Before the shocking poisoning that led to Lin Qi's untimely death in December 2020, a sense of mounting tension and strategic recalibration was palpable within the company.
Lin Qi, the driving force behind Yoozoo Games and the ambitious 'The Three-Body Problem Universe,' had started to reckon with the project's costly missteps.
“A crucial meeting with Howard Zhao, the VP of Bilibili, and other stakeholders became a turning point.”
According to personnel close to Lin Qi.
What Happened Before the Poisoning Death of Lin Qi?
In a twist that could rival the most intricate science fiction plots, the story behind 'The Three-Body Problem' CEO Poisoning Case has its roots deeply embedded in the ambition and intrigue of China's tech and entertainment moguls.
Lin Qi, the visionary behind Yoozoo Games, saw untapped potential in the intellectual property of 'The Three-Body Problem,' a renowned science fiction novel by Liu Cixin.
Winning the IP rights for a surprisingly low 10 million RMB, thanks to legal wizardry by Xu Yao, Lin Qi envisioned a media universe that could catapult Chinese science fiction onto the global stage.
Xu Yao, the lawyer turned Senior Executive, seemed the ideal lieutenant for this ambitious enterprise. Yet, the sparkle of potential soon tarnished.
Over the course of half a decade, Xu Yao burned through nearly 100 million USD, leaving only a subpar, undistributed movie as a tangible outcome. Zhao Yu(Lin Qi’s secretary), who was unfortunate enough to preview the film, could only comment that it made her want to sleep. Han Zhen, another viewer, found it unworthy of representing Chinese cinematic standards.
Facing mounting losses and disappointment, a high-stakes meeting was called. Attended by Lin Qi, Howard Zhao of Bilibili, and other key stakeholders, the verdict was unanimous: Xu Yao had been fiscally irresponsible.
The reins were then handed over to Howard Zhao, and international partnerships, including a deal with Netflix, were set into motion.
As the dust settled, Xu Yao privately asked Lin Qi about his future. "No worries," came the reply. Yet, in the landscape of corporate power struggles, "no worries" could signify anything but. The unfolding saga of betrayals and corporate backstabbings was just beginning.
A series of Losses for Xu Yao Over The Years
The combination of Xu Yao's status as "not an Industry person" and his track record of losses at The Three-Body Problem Universe could conceivably make it challenging for him to secure a similar role in the same industry.
Was the Poisoned Pu'er Tea 6 Months in the Making?
Here's the rundown of the sequence of events Involving Xu Yao.
1. Xu Yao, a Breaking Bad fan and CEO of a subsidiary at Yoozoo Networks, allegedly poisoned his colleague Lin Qi, the chairman of Yoozoo Networks.
2. Xu Yao went all out: he set up a poison-manufacturing facility, bought hundreds of toxins online, and even tested them on animals.
3. He also set up a trading company in Japan to handle these toxic chemicals and had over 160 mobile phone numbers to cover his tracks.
Timeline:
- December 17, 2020: Lin Qi suspected of being poisoned, Xu Yao detained.
- December 25, 2020: Lin Qi dies, causing shock.
- January 18, 2021: Multiple toxins and victims revealed.
Motivation:
- Professional jealousy and power struggles within the company, not emotional or romantic issues as speculated.
Collateral Damage:
- Zhao Jilong, a colleague in the same company, also poisoned by Xu Yao.
Lin Qi’s Poisoning Death Case Court Hearing Ongoing
On October 31, a court in Shanghai will hear a case involving Zhao Jilong, Zhao Yuyao, and Xu Yao, all senior executives at YoozooGroup, for intentional homicide.
The case stems from the 2020 poisoning death of Lin Qi, chairman of Yoozoo Networks. Xu Yao is a key suspect. The case announcement has been removed from the court's website.
After Lin Qi's death, the company underwent multiple changes. His shares were inherited by his minor children, and the children's mother, Xu Fenfen, took over. Months later, Xu Fenfen planned an equity transfer amid falling stock prices. Debts from Lin Qi became an issue.
New shareholder Wan Zheng took over, leading to a shakeup in personnel and business strategy. Despite some increase in stock price, Youzu's financial performance continues to decline.
The case and company developments have had a significant impact on Youzu's stock and financials.
The ongoing court case is a critical juncture for ensuring justice in Lin Qi's tragic demise. It's a moment of reckoning that could serve as a deterrent to corporate malfeasance, focusing on moral integrity over backroom dealings. Justice for Lin Qi is long overdue.