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NetQin's Share Price Dropped To A 52-week Low With 22 Cents Left, With No Earnings Report Or Delisting
- Dec 06, 2018 -

On Dec. 5, the stock price of Ling Ling Zhihang dropped 18.52% to $0.22 in midday trading, nearly equal to the 52-week low of $0.219. Previously, it had a record high of $2.39.

Data show that Ling Ling Zhixing was formerly NetQin Mobile Co., Ltd. As early as February this year, at the special shareholders'meeting held in Hong Kong, NetQin Mobile Co., Ltd. officially changed its name to Ling Ling Zhixing Co., Ltd. and its stock code changed from NQ to LKM. Ling Ling Zhixing's financial report for 2017, which was due to be submitted on November 15, was not submitted smoothly on that day. At that time, it was reported that it was related to the contradiction between Lin Yu and Shi Wenyong, two founders of the company. According to NYSE regulations, companies will face delisting risk in this case.

In September this year, Lin Yu, the founder and former chairman of NetQin, who had been missing for more than a year, suddenly appeared, saying that Shi Wenyong, then chairman of NetQin, had forged his personal seal to sign his resignation document for him while he was in private trouble, removed himself from the company, and then kidnapped him in November 2016 by buying black clothes, and was detained for 13 months. He was rescued by Beijing police. Lin Yu also appeared at this time, unilaterally issued a series of appointments and dismissals of the company, declaring that he is the CEO and co-chairman of NetQin, and his wife Guo Lingyun is the chairman. So far, NetQin once fell into a tussle of disputes between its predecessor and current chairman, and has continued to this day.