Lao Luo was restricted to consumption, indicating that he was selling his art to pay off his debts.
Published on December 17, 2024 11:05AM EDT By Nancy Miller

Luo Yonghao recently had a very difficult time, first forced to sell the hammer company's mobile phone business, left the mobile phone team. Then their new start-up project suffered a serious blow-November 1, the state issued a circular, requiring ecommerce platform to remove e-cigarette products in time. There are also disputes between Lao Luo and Smartisan's former colleagues, which netizens laugh at as a veritable "hot search physique."

In response to reports on the evening of November 3, Luo Yonghao sent a long text on Weibo late in the evening, saying Smartisan had owed more than 600 billion dollars at most since the operating crisis in the second half of last year. But in the past 10 months, about 300 million of the company's debts have been paid off, and tens of millions of them have been paid off by individuals.

Luo Yonghao said he had paid off about 300 million of the company's debt, during which time the company pledged equity and changed legal persons. It was also necessary to continue the operation in order to pay off the debt, not to lose the company's debt. Finally, he apologized to creditors, investors and all friends who cared about Smartisan. Smartisan will continue to do so, and individuals will pay off their debts in the same way as Mark Twain and Shi Yuzhu in the same way as Mark Twain and Shi Yuzhu.

And a few days ago, Luo Yonghao chased the electronic cigarette tuyere seems to be getting cold again. The State Tobacco Monopoly Administration and the State Market Supervision have jointly issued a circular that all kinds of market subjects shall not sell e-cigarettes to minors; and urge e-cigarette production, sales enterprises or individuals to shut down Internet sales websites or clients of e-cigarettes in a timely manner.

(picture source:搜狗图片)

The matter is to be mentioned from Jiangsu Chenyang Electronics Co., Ltd., the company became the supplier of the hammer charger in May 2017, and the amount of 3755991.6 Yuan was supplied to the hammer company for one year. But as of November 1,2018, the hammer company paid only 50,000 yuan, only 75 of the total price of the goods! The remaining 3705991.6 Yuan, which was not yet returned, ended up in the court by Jiangsu Chenyang Electronics Co., Ltd. More interestingly, after the prosecution, Jiangsu Chenyang Electronic Co., Ltd. made a concession after the prosecution, and signed a joint with the hammer company. Debt Disposal Agreement>. The content of the agreement is to divide the repayment into two steps. The first step is to pay 1111797.48 yuan by January 31,2019, and the second step is to pay the remaining 2594194.12 yuan from February 1,2019 to the three-year period from January 1,2019 to January 31,2022. It was clear that the hammer company did not have a first step of 1111797.48 yuan, and even in the subsequent court decision of 6 August 2019, the hammer company did not send a representative to attend. The case was then filed on 4 September by the City Court of Danyang, and then a restriction on the consumption order was held on 30 October.

Earlier, on October 31, Wu Dezhou, former president of Smartisan's COO, acronym laboratory, said at the launch of the new product of the nut mobile phone that earlier this year, the nut mobile phone team as a whole joined the byword beat, Luo Yonghao has left the nut mobile phone team, thank him for his efforts for the company in the past few years, and thank Luo Yonghao for his help and support for the launch.

It is reported that the purpose of restricting consumption order is to prevent property impairment. The consumption restriction order shows that the filing date is September 4, 2019. The consumption restriction order also states that those who commit the above-mentioned acts with personal property for private consumption may apply to the hospital. If the consumption activities prohibited by the said mentioned above are carried out because of the necessity of operation, an application shall be submitted to the hospital and approved before it can be carried out. "if a violation of the consumption restriction order is verified to be true, the hospital shall, in accordance with the provisions of Article 111 of the Civil procedure Law of the people's Republic of China, be fined and detained. If the circumstances are serious and constitute a crime, criminal responsibility shall be investigated according to law."

On 3 November, the China Executive Information Open Network found that on October 30, the Danyang City people's Court issued a "consumption restriction order" to Beijing Hammer Digital Technology Co., Ltd.: as the company failed to fulfill the payment obligations established in the legal documents in force within the period specified in the notice of implementation, it took measures to restrict consumption against Hammer Digital Technology Co., Ltd. And restrict the company and its Luo Yonghao not to implement the following high consumption and non-living and work necessary consumption behavior: when travelling by means of transport, choose aircraft, train soft berth, ship second class or above space; High in hotels, hotels, nightclubs, golf courses and other places above stars. Consumption; purchase of real estate or new, expansion, high-grade decoration houses; lease high-grade office buildings, hotels, apartments and other places to work; buy non-business essential vehicles; travel, vacation; children attend high-fee private schools; pay high premiums to buy insurance wealth management products; take the G-shaped EMU train all seats, other EMU trains first-class seats and other non-domestic and work necessary consumption behavior.

Beijing Hammer Digital Technology Co., Ltd and Luo Yonghao were restricted on Nov. 3, according to the Danyang City people's Court's restriction on consumption, and aircraft were not allowed to choose second-class or above class space. This incident has become a hot search, Luo Yonghao himself has just explained on Weibo.

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