On June 3rd, Shenzhen Infogem Technologies Co., Ltd. (Infogem) issued a statement dismissing rumors of the company being investigated. The stock price of Infogem plummeted by 15.51% on the same day, causing a loss of 4.5 billion RMB in market value due to the impact of the market rumors.
Infogem released a clarification notice titled “Clarification Announcement on Market Rumors” on June 3rd. The announcement stated, “We have noticed rumors circulating on online platforms regarding the company being under investigation. These rumors are false. Up to the present time, the company has not received any notification or legal documents from authorized agencies regarding an investigation, and the company’s production and operation are running normally, with all business operations proceeding in an orderly manner without any undisclosed significant matters.”
According to a report by Caixin on June 3rd, rumors spread throughout the market on the same day alleging an investigation into Infogem for possible financial fraud, with expectations of an official announcement by the closing of the market. An employee at Infogem’s office area in Futian District, Shenzhen, told the media, “ST-related matters and investigations are all false information. We are also trying to trace the source of this news. We did receive a lot of calls in the afternoon because the stock price suddenly dropped this afternoon.”
Reported by “Jinrongjie,” exchange data showed that Infogem’s stock price continued to decline after opening on the 3rd. Around 13:50, a large number of sell orders emerged, leading to a rapid decline in the stock price. The price fell to a low of 33.56 RMB per share, a decrease of 19.29%, nearing the limit for a trading halt with a volatility rate as high as 22.94%. The trading volume surged to over 4 billion RMB.
By the close of the market, Infogem’s stock price was reported at 35.13 RMB per share, down by 15.51%, reaching a market value of 24.8 billion RMB, a decrease of 4.56 billion RMB from the previous day.
Financial data indicated that Infogem’s recent performance is worrisome. The company reported consecutive net losses for five years from 2021 to 2025, with a full-year loss of 133 million RMB in 2025 and a continued loss of 21.59 million RMB in the first quarter of 2026. According to Infogem’s “2026 First Quarter Report,” the company achieved a revenue of 186 million RMB in the first quarter, a 7.47% year-on-year increase. The net profit attributable to the shareholders of the listed company was a loss of 21.5933 million RMB, a 15.72% increase year-on-year. The net cash flow generated from operating activities was negative 18.2967 million RMB, a decrease of 191.63% compared to the same period last year. The company’s main bank IT and SMS businesses continue to shrink, with only a slight profit from cross-border e-commerce, indicating poor profitability.
“Jinrongjie” mentioned that Infogem has no controlling shareholders or actual controllers, yet its market value reaches 30 billion RMB. Speculations surrounding Infogem mainly stem from the involvement of Zhuo Haihang, the founder of Kaipanla, in the company. Despite rumors of a shell acquisition, Infogem has clarified its position. Currently, Zhuo Haihang holds 49.462 million shares of Infogem, accounting for 7.59% of the total shares, making him the third-largest shareholder.
Public records show that Shenzhen Infogem Technologies Co., Ltd., established in October 1998, went public on the Shenzhen Stock Exchange ChiNext Board in May 2010. Headquartered in Futian District, Shenzhen, the company’s largest shareholder is Beijing Huadao Credit Information Co., Ltd. Infogem provides image-based application software and technical services to banks, including computerized stamp verification systems and check image exchange processing systems, actively participating in the development of financial industry standards related to check image by the People’s Bank of China.