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On August 26, Luo Yonghao, founder of Smartisan Technology and host of "Make Friends", published two consecutive clarification articles on social media platforms, responding to the accusations made by Zheng Gang, founder of Zihui Venture Capital, regarding the investment in Smartisan Technology and Luo Yonghao's personal debt.

Luo Yonghao (right) and Zheng Gang (left) took a photo at Smartisan Technology Company. Source: Weibo

Since the beginning of 2023, former investor Zheng Gang has publicly accused his former partner Luo Yonghao on social platforms. Zheng Gang believes that Luo Yonghao "backstabbed" investors in the Smartisan Technology project and has not yet repaid his personal debt of 15 million yuan.

"Starting from January last year, for more than a year and a half, Zheng Gang, an investor of Smartisan Technology, has launched personal attacks, slander and defamation against me countless times on social networks and some self-media." Luo Yonghao said that he has completed the collection of relevant evidence and materials, and will formally sue Zheng Gang for his long-term rumors, slander and defamation.

In this response, Luo Yonghao also refuted Zheng Gang's previous accusations. Among them, regarding Zheng Gang's claim in early 2023 that he would initiate a repurchase lawsuit against Luo Yonghao, Luo Yonghao responded that Zheng Gang did not obtain more than 50% of the support of investors and failed to trigger the repurchase clause to take effect. Regarding the 15 million loan dispute between the two parties, Zheng Gang previously said that he "did not write an IOU" because he trusted Luo Yonghao, while Luo Yonghao believed that the above 15 million loan was borrowed by Smartisan Technology Company and the repayment should be "handled in a fair and impartial manner."

In addition, Luo Yonghao said that Zheng Gang of Smartisan Technology accused him of being a real "tightwad" to the old shareholders of Smartisan Technology and accused him of not sharing the profits after the success of the business with the old shareholders of Smartisan Technology. In response, Luo Yonghao said that the 5% original equity plan reserved for the old shareholders of Smartisan Technology by Jiao Ge Pengyou will be implemented in January 2025. However, Luo Yonghao said that the plan will exclude Zheng Gang and the old shareholders of Smartisan Technology who have the same position as him.

According to Smartisan Technology's equity information, Zihui Venture Capital, founded by Zheng Gang, holds a total of 10.08% of Smartisan Technology's shares, and the subscribed capital has been paid. Zihui Venture Capital, founded by Zheng Gang, has participated in Smartisan Technology's angel round and B round of financing. Zheng Gang has repeatedly claimed that his investment in Luo Yonghao exceeds 200 million yuan. In 2019, Smartisan Technology gradually fell into debt disputes and stopped production. Its founder Luo Yonghao also took on huge debts and was once included in the court's list of restricted high consumption.

Jiupai Finance reporter Shu Jiakui and editor Wan Pei

[Source: Jiupai News]