news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

the "fight" between luo yonghao and zheng gang has not yet ended.

recently, zheng gang of zihui fund posted several updates on weibo, blasting luo yonghao. he even changed his weibo name to "zheng gang·guo junwang", saying that he would accompany luo yonghao to "continue the show". (editor's note: previously, luo yonghao changed his weibo name to "luo yonghao·niu hulu", and then published a long article to respond to the details of "true return" and the dispute between him and zheng gang.)

in response to the criticism from zheng gang of zihui fund, luo yonghao published another long article this morning.

in fact, this is not the first time that the two have quarreled in public. the focus of their dispute is mainly on the repayment of funds and reputation issues. as an investor in luo yonghao's early days of smartisan technology, zheng gang believed that his investment was at risk of being wasted. at the same time, he mortgaged his only house to lend 20 million yuan to the other party, but luo yonghao refused to admit it and even turned the tables. luo yonghao responded that zheng gang was lying and deliberately misidentified to create confusion, and once again stated that he did owe zheng gang money, but would pay it back in the end.

luo yonghao: zheng gang is lying and will pay back the money he owes him in the end

recently, zheng gang has posted several weibo posts to criticize luo yonghao. in one of his weibo posts, zheng gang said that after he lent luo yonghao 15 million yuan, luo yonghao asked if he could borrow more money. since he didn't have that much cash, he mortgaged his only house and lent him 20 million yuan, but luo yonghao denied it and even accused him of lying. in this weibo post, zheng gang attached a video showing the wechat chat records between luo yonghao and him about borrowing money.

afterwards, zheng gang once again published a long weibo post to blast luo yonghao. "when smartisan technology was in the most difficult time and couldn't pay wages, suppliers put up banners, and luo yonghao was in trouble, i lent him 15 million yuan in two installments. i didn't even write any ious or ask him to sign any agreements. i trusted him and didn't sign the loan agreement until three years after the loan. in addition, when he used up the loan and asked me to borrow again, i really couldn't come up with the money, so i mortgaged my house to borrow 20 million yuan from the bank for him. now he actually denies that i mortgaged my house to lend him money."

in this long post, zheng gang said that he decided to change his social media nickname to: zheng gang·guo junwang. "if luo yonghao wants to act, i will act with him. we can co-star in "true legend: zheng gang·guo junwang vs luo yonghao·niu hulu"."

at the same time, zheng gang also expressed his intention to shoot a movie called "chinese break-ups".

this morning, luo yonghao published a long article in response to zheng gang's "bombardment". luo yonghao directly stated at the beginning that "zheng gang lied and always complained that he had few fans and that few people read his articles."

regarding zheng gang's claim that he borrowed 15 million yuan in two installments, luo yonghao said that the loans were made in 2016 and 2017, not in 2018 when smartisan technology encountered problems, and that the two parties had a loan agreement. however, smartisan technology's mobile phone business was unsustainable and encountered difficulties in 2018, not 2016 and 2017. regarding zheng gang's claim that he borrowed money directly without signing an agreement, luo yonghao said that the electronic version of the loan agreements for the two loans has been found, and he is asking his financial colleagues to find the originals in the database.

in response to zheng gang's claim that he "mortgaged his own house to lend money to luo yonghao", luo yonghao said: "when smartisan technology was short of production funds, we had an operating loan from a bank in beijing. the bank required us to provide asset mortgages. an old friend of mine helped to provide three houses as mortgages, and zheng gang also helped to provide a house as mortgage. using four houses as mortgages, smartisan technology obtained a total of 49 million yuan in operating loans. however, these loans were repaid to the bank long before smartisan technology's incident (the repayment date of the last loan was february 6, 2018), and the mortgages of the four houses were also cancelled accordingly."

luo yonghao said that zheng gang confused the facts and said that the 15 million yuan that zihui lent to smartisan was a loan secured by a house, which led the public to believe that luo yonghao personally defaulted on his debt. at the same time, luo yonghao also emphasized that the money was originally the debt-to-equity swap agreed by both parties. he said that zheng gang's fund lent 15 million yuan to smartisan technology in a public-to-public manner, and the help it provided to him was indeed huge. "no matter how serious the dispute with zheng gang was, i am still very grateful for his help at the time." but luo yonghao once again said that given zheng gang's attitude towards him, he would pay back the money in the last installment.

at the end of the long article, luo yonghao also reminded his peers who failed in entrepreneurship that when facing debt problems, they should rationally evaluate their abilities and responsibilities and pay attention to legal developments in corporate and personal bankruptcy. he emphasized that the reason why he chose to assume all the debts of smartisan technology was out of a sense of responsibility to the company and creditors, and not because he was forced to do so.

the industry calls on entrepreneurs and investors to maintain good relations

luo yonghao and zheng gang have been engaged in a war of words for several years. since it appeared in the public eye, both sides have insisted on their own opinions and the dispute has not been resolved. from a business perspective, this incident is not just a quarrel between individuals, but reflects a crisis of trust in the entire entrepreneurial ecosystem.

in the financing process of start-ups, the relationship between investors and entrepreneurs is crucial, and good communication and trust are the key to success. however, when conflicts of interest arise, this trust relationship is often challenged. smartisan technology, represented by luo yonghao, has experienced many twists and turns in the past, and investor zheng gang is also known for his tough investment style. the conflict between the two actually reveals the potential tension between entrepreneurs and investors.

the relationship between entrepreneurs and investors is a very critical link in the business ecosystem. it is not just luo yonghao and zheng gang. for china's current primary market, the relationship between other entrepreneurs and investors needs to be maintained more carefully. it is still a definite proposition that entrepreneurs and investors still need each other.

from the perspective of early-stage startups, facing the current multiple financing challenges, market-oriented investment institutions are still a more inclusive option for risk in the entire financial market. from the perspective of investors, new and growing companies are the cornerstone of the investment industry, and the value and benefits created by investors and entrepreneurs together are the long-term plan for the future development of companies and the realization of effective exit.

a year ago, zheng gang angrily accused luo yonghao of being unkind, dishonorable and immoral, and pointed out that luo yonghao was ungrateful and had ruined smartisan technology. he said that he would join dozens of investors to initiate a repurchase of its shares.

the repurchase issue has also become a hot topic among primary market investors recently. as qiming venture partners' kuang ziping said before, he has been engaged in venture capital in china for more than 20 years and has been fortunate to witness the birth of many great companies, understand the hardships of corporate growth, and experience the final failure of some companies. over the past 10 years, qiming and its peers have invested in a large number of companies, among which thousands are developing well, but are far from going public and are facing redemption or gambling pressure. kuang ziping believes that these companies are very important components of innovation and development in various fields, a considerable wealth of society, and provide millions of jobs, embodying the dreams of many entrepreneurs. these companies should never be ruined by stampede-style repurchases.

kuang ziping called for joint efforts from all sides, such as greater patience in the primary market, moderate liberalization of the secondary market, more proactive m&a policies, especially further relaxation of m&a policies for unprofitable companies by listed companies, greater support and encouragement from regulators for overseas listings, and more pragmatic standards for lps to measure whether gps have fulfilled their repurchase obligations. this will give these companies and entrepreneurs some breathing space and a greater chance of continuing to grow and benefit society.