Kaiying Network: Controlling shareholder Jin Feng plans to increase his holdings of the company's shares by no less than 150 million yuan

Kaiying Network Visual China Stock Photo

The actual controller and all senior management of Kaiying Network plan to increase their holdings of the company’s shares.

On March 12, Kaiying Network Co., Ltd. (Kaiying Network, 002517) announced that it received a notice from its controlling shareholder, actual controller, and Chairman Jin Feng. Based on confidence in the company’s future development prospects and a reasonable judgment of the company’s stock value, and to boost investor confidence, safeguard the interests of small and medium investors, and maintain stability in the capital market, Jin Feng plans to increase his holdings of the company’s shares through methods permitted by the Shenzhen Stock Exchange. He intends to do so within six months from the disclosure date of the plan, with a total increase of no less than 150 million RMB, funded by his own or raised funds.

Regarding the proposed price range for the increase, the announcement states that no specific price range is set. The plan will be implemented based on overall market trends and fluctuations in the company’s stock trading prices; the increase will be carried out through methods permitted by the Shenzhen Stock Exchange, including but not limited to centralized bidding, block trades, and other direct or indirect methods. Jin Feng commits to strictly comply with relevant laws and regulations, avoid insider trading, trading during sensitive periods, and short-term trading, and complete the increase within the specified period.

The announcement discloses that Jin Feng directly owns 320 million shares of Kaiying Network, accounting for 14.99% of the total share capital. He also holds 112 million shares through Shaoxing Ansheng Enterprise Management Partnership (Limited Partnership), representing 5.26% of the total share capital. In total, he owns 433 million shares, accounting for 20.26% of the total share capital. In the six months prior to this announcement, Jin Feng did not reduce his holdings of the company’s shares.

On the same day, Kaiying Network also announced that it received notices from Vice Chairman and General Manager Shen Jun, Director and Vice General Manager Zhao Fan, Director and Vice General Manager Qian Junfa, Employee Representative Director Huang Yu, Vice General Manager Lin Bin, Vice General Manager Tang Yue, Board Secretary Liu Honglin, and CFO Zhang Qirun. Based on confidence in the industry and the company’s future prospects, and a reasonable judgment of the company’s stock value, and to enhance investor confidence and maintain stability in the capital market, these personnel plan to increase their holdings of the company’s shares within six months from the disclosure date of the plan.

The announcement shows that all senior management of the company plan to increase their holdings with a total amount of no less than 9.5 million RMB.

Kaiying Network’s official website indicates that the company is a well-known domestic listed internet gaming company. Its core business includes the development, operation, and distribution of mobile and web games, as well as web platform and mobile app distribution platforms. The company has also long-term investments in the smart technology sector and actively promotes global distribution to reach a broader user base. Currently, its subsidiaries Shanghai Kaiying and Zhejiang Shenghe have developed and operated popular games such as “Millionaire Miracle,” “Blue Moon Legend,” “Gundam Duel,” “King’s Legend,” “Angel War,” “New Legend of the Condor Heroes,” “Dragon God Eight Divisions: Western Journey,” “The Legend of Sword and Fairy: A New Beginning,” “Stone Age: Awakening,” “National Jianghu,” “Rainbow Orange,” and “Dragon Nest World.”

In October 2025, Kaiying Network released its Q3 2025 financial report. As of the end of this reporting period, the company’s total operating revenue was 4.075 billion RMB, up 3.75% year-over-year, and net profit attributable to shareholders was 1.583 billion RMB, up 23.7% year-over-year. On a quarterly basis, the third quarter’s total operating revenue was 1.497 billion RMB, an increase of 9.08% year-over-year, and net profit attributable to shareholders was 633 million RMB, an increase of 34.51% year-over-year.

According to Dazhihui VIP, as of the close on March 12, Kaiying Network’s stock price fell by 7.59%, closing at 18.75 RMB per share.