On November 18, according to the information from the Chinese corporate information platform Tianyancha, Chairman Shi Yuzhu and others from Giant Network have been added as debtors with an amount involved of 350 million yuan, to be enforced by the Beijing Financial Court.
At the same time, two additional debtor information involving Giant Investment Limited and Shanghai Giant Investment Management Co., Ltd. were added, with a total enforcement target of 870 million yuan, also to be enforced by the Beijing Financial Court.
Shi Yuzhu invested in health products in 1994, with the first product being “Brain Gold”. In 1997, he launched the health product “Brain Platinum”, which was highly successful. In 2004, he invested in online games. Shi Yuzhu and his daughter have appeared on the Hurun Rich List.
In August 2020, Shi Yuzhu was appointed as a director of China Minsheng Bank Co., Ltd.
In April 2021, the Forbes Global Billionaires List was released, with Shi Yuzhu and his family ranking 421st on the 2021 Forbes Global Billionaires List with a wealth of 6.3 billion US dollars.
The shares held by Shi Yuzhu in the company have been frozen multiple times.
On August 24, 2021, Tianyancha App showed that Shi Yuzhu’s shares were frozen again. The company with frozen shares as the target is Hangzhou Yunxi Investment Partnership Enterprise (Limited Partnership), and the enforcing court is the Beijing Financial Court, with a frozen amount of 65 million yuan, with the freeze period until August 2024.
In December 2021, Shi Yuzhu added information about frozen shares, with the target companies being Giant Investment Limited and Hangzhou Yunxi Investment Partnership Enterprise (Limited Partnership), with frozen equity amounts of 114.38 million yuan and 65 million yuan respectively.
In late September 2023, Shi Yuzhu had around 114 million yuan of shares frozen, with the freeze period from September 18, 2023, to September 17, 2026, and the enforcing court is still the Beijing Financial Court.
In early October 2023, Tianyancha showed that Shi Yuzhu and Beihai Hongtai Investment Co., Ltd. added a debtor information, with an enforcement target of over 1.76 billion yuan, to be enforced by the Beijing Financial Court.
Previously, Shi Yuzhu and Beihai Hongtai Investment Co., Ltd. were sued by China Minsheng Trust Co., Ltd., with the court ruling that Beihai Hongtai Investment Co., Ltd. should repay the bank the principal amount of over 1.2 billion yuan, an interest of over 130 million yuan, and corresponding default fines. Shi Yuzhu is jointly responsible for the principal amount of over 990 million yuan, an interest of over 100 million yuan, and related default fines.