This is not the first time that there is a news or a rumor that Jia Nan Zhizhi will be listed on the US stock market. As early as July of this year, there were media reports that Jia Nan Zhizhi had secretly submitted the listing application to the SEC .
According to media reports, Jia Nan Zhizhi will release the Red Herring Prospectus on November 6th, a due diligence investigation when the company first issued shares to gain public trust and approval from government agencies. The font color is red) and a preliminary roadshow is made to the agency. It is expected that the IPO will eventually be carried out on November 20-25.
Jia Nan Zhi Zhi was established in 2013, specializing in cryptocurrency “mining” special mining machine. With the rise of cryptocurrencies such as Bitcoin, the company launched the hot-selling mining machine “Avalon” with low power consumption. It is easy to operate and is loved by miners and investors.
Introduction of Regulatory Policies by Governments
However, after the successful introduction of regulatory policies by governments, the cryptocurrency market ushered in clarity, and transactions related to cryptocurrencies were restricted in mainland China, and the shipments of Jia Nan Zhizhi fell sharply.
Since then, in order to alleviate the risk of the encryption market, Jia Nan has introduced the artificial intelligence chip business. In August 2018, Jia Nan Zhizhi realized the production of the world’s first self-developed 7nm chip, and mass-produced the world’s first RISC-based. V self-developed commercial edge intelligent computing chip. At the same time, its 5nm chip is about to enter the market, and it is expected that the mining machine production in 2020 is expected to exceed 1 million units.
It is reported that Jia Nan Zhizhi’s operating income in 2015-2017 was 47.299 million yuan (about $6747746288.50 or 6.747 billion US Dollars) , 316 million yuan (which is about 45 million US dollars), 1.308 billion yuan ( that is about 18.66 million US dollars, and the profits were 1.511 million yuan, 52.544 million yuan and 361 million yuan respectively. The sales revenue in 2018 is expected to exceed 4 billion yuan.
It should be noted that the current cryptocurrency market is still volatile. BitfinexUSD has risen by about 147.60% this year. Recently, the Chinese government decided to focus on the development of blockchain technology, which has a greater impact on the market, but then The People’s Daily issued a statement saying that the blockchain is not equal to Bitcoin, and the cryptocurrency market has declined
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