Tony Tian
About Tony Tian
Xuedong (Tony) Tian is Chief Financial Officer (Principal Financial and Accounting Officer) and a director of Aimfinity Investment Corp. I (AIMTF) since March 17, 2023 . He is 53 years old and holds an MBA (NYU), an MA in Economics (University of Connecticut), and MS/BS degrees from China Agricultural University; he is also a CFA charterholder . As a SPAC, Aimfinity presently has no revenue and has incurred losses since inception, so traditional operating performance metrics (revenue/EBITDA growth) and TSR-based pay-for-performance analysis are not applicable at this stage . As of the September 29, 2025 record date, the Trust Account stood at approximately $14.29 million and estimated per-share redemption value was ~$12.80, framing the company’s capital structure and incentive environment during Mr. Tian’s tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Snail, Inc. (Nasdaq: SNAL) | Co-CEO | Since Apr 2024 | Public company leadership experience in gaming/entertainment; capital markets and operating credentials . |
| Kingswood Capital Partners | Managing Director | Since 2024 | Investment banking/capital markets leadership relevant to SPAC execution and financing . |
| Feutune Light Acquisition Corp. (Nasdaq: FLFV) | CEO (Mar 2022–Jun 2024); Director (Jun 2022–Jun 2024) | 2022–2024 | Direct SPAC leadership and deal process experience . |
| US Tiger Securities, Inc. | Managing Director, Head of Capital Markets | 2020–2024 | ECM/DCM execution; sponsor/PIPE networks . |
| Weitian Group LLC | Founder, President | 2012–2020 | Corporate advisory/IR; issuer communications and investor targeting . |
| Merriman Capital, Oppenheimer, Ladenburg Thalmann, Ticonderoga, Pacific Crest | Equity research/analyst roles | 2008–2016 | Coverage of China/tech sectors; analytical rigor and sector networks . |
External Roles
| Organization | Capacity | Notes |
|---|---|---|
| Snail, Inc. (SNAL) | Co-CEO | Concurrent operating role since April 2024 . |
| Kingswood Capital Partners | Managing Director | Concurrent investment banking role . |
| Inkstone Feibo Acquisition Corporation (Inkstone SPAC) | CFO and Director | Additional SPAC governance/finance experience . |
| Feutune Light Acquisition Corp. (FLFV) | Former CEO/Director | SPAC leadership track record (ended June 2024) . |
Fixed Compensation
None of Aimfinity’s executive officers or directors, including Mr. Tian, has received any cash compensation (salary, bonus, or cash retainers) for services rendered prior to completion of an initial business combination; only out-of-pocket expense reimbursement is permitted and reviewed quarterly by the Audit Committee .
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | $0 | $0 | $0 |
| Target/Actual Bonus ($) | $0 | $0 | $0 |
| Cash Director Fees ($) | $0 | $0 | $0 |
Performance Compensation
Aimfinity discloses no annual cash incentive plan, no RSU/PSU program, and no option grants to executives/directors prior to a business combination; compensation, if any, may be determined by the post-combination board/compensation committee after closing .
| Incentive Type | Metric(s) | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Annual Cash Bonus | Not applicable | — | — | — | — |
| RSUs/PSUs | Not applicable | — | — | — | — |
| Options | Not applicable | — | — | — | — |
Founder Shares are the primary equity incentive for insiders and are discussed in Equity Ownership & Alignment. Founder equity becomes worthless upon liquidation, creating a strong incentive to close a deal .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | 100,000 Class B “Founder Shares” (approx. 5.0% of Class B) via Sponsor membership interest; Mr. Tian holds 5.908% of Sponsor membership interests entitling him to distribution of 100,000 founder shares . |
| Acquisition Terms | Mr. Tian purchased 5.908% of Sponsor membership interests on Jan 19, 2024 for $1,242, entitling him to 100,000 founder shares distribution . |
| Vested vs. Unvested | Founder shares convert to Class A upon business combination; founder shares are worthless if no business combination (deal-contingent value) . |
| Lock-Up/Transfer | Founder shares and private placement units remain subject to Letter Agreement lock-up restrictions per S-1 framework (company disclosure references applicable lockup) . |
| Options/Warrants | Beneficial ownership tables exclude warrants not exercisable within 60 days; no executive option grants disclosed . |
| Pledging/Hedging | No pledging disclosed in beneficial ownership or related party sections; no hedging policy disclosure observed . |
| Ownership Guidelines | No executive/share ownership guidelines disclosed . |
Employment Terms
| Term | Status |
|---|---|
| Role Start Date | March 17, 2023 (appointed CFO; also Class III director) . |
| Term/Expiration | Officers serve at the discretion of the Board; no fixed term . |
| Severance / Termination | No agreements providing benefits upon termination prior to business combination . |
| Change-of-Control | Not disclosed . |
| Non-Compete / Non-Solicit | Not disclosed . |
| Garden Leave / Post-Termination Consulting | Not disclosed . |
| Clawback | Not disclosed . |
Board Governance
- Board Service: Director since March 17, 2023; appointed Class III director concurrent with CFO appointment .
- Committee Roles: Audit Committee members are independent directors Kevin Vassily (Chair), Hanzhong (Han) Li, and Teng-Wei Chen; Mr. Tian is not listed on any committee .
- Independence: Company identifies the Audit Committee as independent; Mr. Tian is a management director and not among independent committee members .
- Lead Independent / Attendance: Not disclosed .
Director Compensation
- No cash compensation or director fees paid prior to business combination; reimbursement only for out-of-pocket expenses with quarterly Audit Committee review .
Related Party and Incentive Structure Considerations
- Founder Shares/Deal Incentives: Insiders’ founder shares become worthless if no business combination is completed within the prescribed timeline; Board acknowledges these interests may influence motivations in pursuing a deal .
- Insider Voting Control: Insiders owned ~66.4% of outstanding Ordinary Shares as of record date and planned to vote in favor of extension proposals, highlighting concentrated control during key decisions .
- Sponsor Financing: Working capital loans from the CEO-controlled Sponsor are convertible into private placement units at $10 upon business combination (structural dilution if converted), illustrating additional insider economic alignment with closing a deal .
Compensation Structure Analysis
- Cash vs. Equity Mix: 100% pre-close compensation is non-cash; no salary/bonus. Economic upside is primarily via founder shares that are contingent on closing a business combination .
- Pay-for-Performance Alignment: While founder shares tie value to deal completion, they can create incentives to consummate any transaction rather than optimize long-term quality, a risk noted by the company’s disclosure of insider interests diverging from public shareholders .
- Year-over-Year Changes: No change in pre-close cash compensation structure across FY 2022–2024; no option/RSU programs disclosed .
- Repricing/Modifications: No equity award repricings or modifications disclosed .
Performance & Track Record
- Company Operating Profile: SPAC with no revenue and losses since inception; capital preserved in Trust Account for redemptions and business combination .
- Capital/Shareholder Base Context: ~$14.29 million in Trust as of Sep 29, 2025; estimated ~$12.80 per-share redemption amount; extensive redemptions and repeated extensions emphasize the time pressure under which management operates .
- Regulatory/Listing Constraints: Company has sought extensions and NTA requirement amendments to facilitate business combination (Docter) and navigate listing/penny-stock constraints—factors shaping execution risk during Mr. Tian’s tenure .
Equity Ownership & Alignment (Detail Table)
| Metric | Value |
|---|---|
| Class B Founder Shares Beneficially Owned | 100,000 shares (approx. 5.0% of Class B) . |
| Ownership Form | Indirect via 5.908% Sponsor membership interests; purchased Jan 19, 2024 for $1,242 . |
| Economic Contingency | Founder shares become worthless if no business combination is completed . |
| Lock-Up/Restrictions | Subject to Letter Agreement/lock-up restrictions as disclosed . |
| Pledging | No pledging disclosed . |
Employment Terms (Detail Table)
| Item | Detail |
|---|---|
| Start Date | March 17, 2023 (CFO and director) . |
| Term | At Board’s discretion; officers serve without fixed terms . |
| Severance / CoC | None disclosed; no termination benefits agreements pre-close . |
Board Service History and Committee Roles
| Attribute | Detail |
|---|---|
| Board Class/Start | Class III Director since Mar 17, 2023 . |
| Committees | Not a member; Audit Committee consists of independent directors (Vassily—Chair, Li, Chen) . |
| Independence | Not identified as independent; acts in management capacity; not on independent committees . |
Investment Implications
- Alignment and Pressure: Mr. Tian’s founder-share exposure provides strong financial alignment to complete a business combination but also creates pressure to transact (deal-contingent value that becomes worthless on liquidation) . For trading, milestones around extensions/redemptions and any definitive merger progress can be catalysts given insider voting control (~66.4%) and Trust dynamics .
- Limited Pre-Close Cash Pay and No Variable Plan: Absence of salary/bonus reduces cash burn but offers little visibility into future incentive metrics until after any business combination, shifting focus to sponsor economics, lock-ups, and potential dilution from convertible insider financing .
- Governance Considerations: Dual role as CFO and director, with no service on independent committees, concentrates influence in management and underscores the importance of independent Audit Committee oversight during the deal process .
- Execution Risk: As a SPAC with no operations/revenue, outcome is binary around deal completion and listing/CFIUS/“penny stock” rule navigation; Mr. Tian’s capital markets and prior SPAC leadership experience is relevant but does not eliminate structural risks tied to redemptions, Trust size, and regulatory listing thresholds .