Financial Services Association, April 19: Zhou Weiwei was fired. On the evening of April 19, Hongbo Co., Ltd. officially announced the news.

Today, Hongbo Co., Ltd. announced that the board of directors agreed to dismiss Zhou Weiwei as Deputy General Manager, effective from the date of review and approval by the board of directors. After the dismissal, Zhou Weiwei no longer held any position in the company. This dismissal will not have a significant impact on the company's daily production and operation activities. As of the disclosure date of the announcement, Zhou Weiwei held 850,000 shares of the company, accounting for 0.17% of the total number of shares in the company.

It is worth mentioning that on April 16, news about the termination of the labor contract went viral on social media. The relevant information notes and notices were all stamped with the official seal of InBev Mathematics. The notice also left the telephone contact information of Zhou Gui, general manager of the Human Resources Center of Hongbo Co., Ltd.

On the evening of the 16th, Beijing Yingbo Digital Technology Co., Ltd., a subsidiary of Hongbo Co., Ltd., issued a clarification notice stating that the company had dismissed some employees from their positions in accordance with relevant regulations. After the work of the relevant employees was adjusted, their remarks and actions did not represent the position and views of Beijing Yingbo Digital Technology Co., Ltd.

Although the “dismissal of some employees” mentioned by Yingbo Mathematics on its official WeChat account does not clearly indicate whether it is related to Zhou Weiwei, according to many documents circulating in the market, they are all somewhat indicative.

According to data, InBev Mathematics was established on June 1, 2022. Zhou Weiwei has been the general manager of InBev Mathematics since August of the same year, and is fully responsible for all aspects of InBev Digital's preparation, technology research and development, team building, and business development. In April 2023, Hongbo Co., Ltd. also announced the appointment of Zhou Weiwei as the deputy general manager of Hongbo Co., Ltd. to be responsible for the company's business in the artificial intelligence AI sector.

Hongbo Co., Ltd. mentioned in the announcement that Yingbo Mathematical Technology is the sole operator of the company's Beijing AI Innovation and Empowerment Center. As the general manager of InBev Digital, Zhou Weiwei comprehensively oversees the daily operations and management decisions of InBev Mathematics, and is also a key figure in the smooth implementation of the project.

It is worth mentioning that before Zhou Weiwei was dismissed, Hongbo Co., Ltd.'s big performance “changed face” also attracted a lot of attention from the market. Hongbo Co., Ltd. explained that it was mainly related to the computing power business of InBev Digital.

On April 13, Hongbo Co., Ltd. issued the “2023 Annual Results Forecast Revision Notice”. According to the announcement, the company's net profit was previously estimated to have a profit of 37.4 million yuan to 56.1 million yuan, but since the original recording time of equipment sales revenue was not approved by the auditing agency, the net profit for 2023 is expected to be corrected to a loss of 50 million yuan to 58 million yuan, and a loss of 65 million yuan to 75 million yuan after deducting non-net profit.

According to the revised performance forecast announcement, Yingbo Mathematics will cooperate with Beijing Jingneng in the procurement of intelligent computing center construction equipment in 2023. As of December 31, 2023, the company has received an initial contract payment of 500 million yuan from Beijing Jingneng for the above cooperative project. The company has delivered some equipment and obtained a phased equipment acceptance certificate.

Shanghui Accounting Firm (Special General Partnership) believes that the company should only confirm revenue after all equipment for the project has been delivered and the final deployment is completed, and the relevant revenue will be deducted from the operating income. As a result, the company made corrections to the financial indicators in the performance forecast.

The performance “changed its face”, and Hongbo Co., Ltd. has successively received warning letters from the Fujian Securities Regulatory Bureau and letters of concern issued by the Shenzhen Stock Exchange.

According to the “Notice Concerning the Company and Related Personnel Receiving a Warning Letter from the Fujian Securities Regulatory Bureau” disclosed by Hongbo Co., Ltd. on the evening of April 15, the Fujian Securities Regulatory Bureau stated that Ni Hui, then chairman of Hongbo Co., Ltd., and Pu Wei, the financial director, failed to fulfill their duty of diligence and due diligence and bear the main responsibility for the above issues. The Fujian Securities Regulatory Bureau decided to take administrative supervision measures to issue warning letters against Hongbo Co., Ltd., Ni Hui, and Puwei, and are recorded in the securities and futures market integrity file database.

On the evening of the same day, the Shenzhen Stock Exchange issued a letter of concern to Hongbo Co., Ltd., indicating that the revised announcement of the company's performance forecast was significantly different from the original performance forecast and that the nature of profit and loss had changed. It is suspected that it violates the relevant provisions of the Shenzhen Stock Exchange's “Stock Listing Rules (revised in August 2023)”. The Shenzhen Stock Exchange will then initiate disciplinary proceedings against Hongbo Co., Ltd. and related parties.

Under the “big change in face” of performance, the stock price of Hongbo Co., Ltd. immediately fell sharply. On the first two trading days of this week, it had 2 consecutive one-sided declines. As of today's close, the stock closed at 17.31 yuan/share, a weekly decline of more than 20%.