Jin Feng: Employee to Owner | Generated by AI
Question: Who is 金锋 (Jin Feng), chairman of 恺英网络?
Answer:
Jin Feng (金锋) — born July 1988, making him an “88后” (post-1988 generation). Currently Chairman and de facto controlling shareholder of Kingnet Network (SZ:002517).
Background & Career Path
He graduated from Zhejiang University of Technology’s International College, joined Zhejiang Shenghe Network Technology in 2011, and worked his way up from product manager → marketing director → President & CEO.
In July 2018 he entered Kingnet’s management, serving as director, then vice-chairman, then co-chairman, before becoming full Chairman in March 2019.
The backdrop: Kingnet’s founder Wang Yue was arrested in 2019 for suspected market manipulation, creating a leadership vacuum. Jin Feng stepped in at that inflection point.
How He Took Control
This is a classic “employee becomes owner” story — methodical and aggressive:
From March 2020 to September 2021, Jin Feng made 27 open-market purchases, accumulating 9.79% of shares at a total cost of ~740M CNY.
In November 2023, he spent 147M CNY to acquire an 11% partnership stake in Shaoxing Ansheng, bringing his total direct and indirect control to 19.01% of shares, officially becoming the actual controller — ending a period when the company had no controlling shareholder at all.
He also publicly committed in July 2024 that neither he nor his concerted parties would reduce holdings over the next 5 years (2024–2028), and pledged to use all after-tax dividends received to continue buying shares annually.
Legal Drama
It wasn’t a clean rise. In October 2019, Jin Feng was arrested by Shanghai police on suspicion of insider trading. He was released on bail in November 2019 and ultimately returned to run the company — the case against him was eventually dropped without prosecution.
Under His Watch
Revenue and net profit have grown year over year. In H1 2024, the company reported 2.555B CNY in revenue and 809M CNY in net profit attributable to shareholders.
He’s also pushing AI adoption in game development and expanding global publishing reach.
TL;DR: Jin Feng is a 37-year-old self-made game industry operator who rode a turbulent corporate governance crisis to become both chairman and controlling shareholder. He built his position by relentlessly buying shares on the open market over 4+ years while steering the company back to profitability. If you’re evaluating Kingnet as an employer or business partner, the governance is now stable — but the company has a messy recent history (arrested founder, multiple executives under investigation, securities fraud scandals).
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