Mingzhou Sun
DATASEAAbout Mingzhou Sun
Mingzhou Sun is Chief Financial Officer at Datasea Inc. (DTSS), appointed on August 1, 2021; she is 56 and holds a Bachelor’s degree in Accounting from Renmin University of China, with credentials including PRC Certified Public Accountant, Certified Public Valuer, and ACCA Level 2 certificate . During her tenure, DTSS reported FY2024 revenue of $23.98M, up 558.6% year over year, as the company scaled its 5G AI multimodal business, with the CFO signing the 2024 Form 10-K; the filing also noted going-concern risk and low cash levels, underscoring execution and financing challenges despite top-line growth .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Datasea Inc. | Accounting Director | Sep 2019–Aug 2021 | Prepared accounting documents supporting SEC registration statements and periodic reports . |
| Beijing Mingye Accounting Firm | Partner | Mar 2018–Sep 2019 | Built internal financial control systems, analyzed tax policy, issued tax-related reports for clients . |
| Sun Seven Star Investment Group | Vice President & CFO | Jul 2012–Jan 2018 | Senior finance leadership (CFO) responsibilities . |
| Golden State Holding Group (USA) | Chief Financial Officer | Mar 2008–Jun 2011 | Corporate finance leadership . |
| Various companies | Finance Director/Manager | Prior to 2008 | Earlier finance leadership roles (not individually itemized) . |
External Roles
- No public company directorships or external board roles disclosed for Ms. Sun .
Fixed Compensation
- Employment terms: Original employment agreement dated Aug 1, 2021 provided monthly compensation of RMB 20,000; a new agreement dated Apr 1, 2024 runs through Mar 31, 2027 .
- No target bonus %, actual annual bonus, or perquisites disclosed for Ms. Sun in the proxy .
Multi-year summary compensation (fiscal years end June 30):
| Metric | FY2022 | FY2023 | FY2024 |
|---|---|---|---|
| Salary ($) | $35,233 | $34,564 | $33,452 |
| Bonus ($) | — | — | — |
| Stock awards ($) | — | — | — |
| Option awards ($) | — | — | — |
| Other comp ($) | — | — | — |
| Total ($) | $35,233 | $34,564 | $33,452 |
Performance Compensation
- The company disclosed no annual incentive plan metrics (e.g., revenue, EBITDA, TSR) for Ms. Sun, and no performance-based bonuses or equity awards tied to specific goals for FY2022–FY2024 .
- Outstanding awards at FY2024 year-end did not list any RSUs/PSUs or options for Ms. Sun .
Illustrative incentive metrics table (no disclosures):
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for CFO | — | — | — | — | — |
Equity Ownership & Alignment
- Beneficial ownership:
- As of Apr 24, 2024: 3,334 shares (<1% of 3,017,944 outstanding) .
- As of Mar 28, 2025: 0% (no shares listed in table for Ms. Sun) out of 7,651,111 outstanding .
- No options or unvested equity reported for Ms. Sun at FY2024 year-end; outstanding equity awards table lists only other executives .
- No pledging or hedging disclosures specific to Ms. Sun were found; no stock ownership guidelines disclosed for executives .
Ownership detail:
| As-of Date | Shares Beneficially Owned | % of Shares Outstanding | Notes |
|---|---|---|---|
| Apr 24, 2024 | 3,334 | <1% | Post 1-for-15 reverse split basis . |
| Mar 28, 2025 | — (not listed) | 0% | 7,651,111 shares outstanding . |
Insider transactions (selling pressure, last 24 months):
- Form 144 (intent to sell) filed May 6, 2024 (25,000 value indicated by third-party aggregator; underlying index shows Form 144 present) .
- Prior Form 4 activity includes an award reported in 2023 (50,000 pre-split shares, aligning with ~3,334 post-split holdings), per third-party aggregate data; company proxy shows 3,334 shares as of Apr 24, 2024 .
- Section 16(a) compliance disclosure noted Ms. Sun failed to timely file one Form 4 in FY2023 (company 2023 10-K) .
Insider activity table:
| Date | Form | Transaction | Shares | Price/Value | Source |
|---|---|---|---|---|---|
| May 6, 2024 | Form 144 | Intent to sell | 3,334 (indicative) | ~$25,000 (aggregator) | |
| Jun 2023 | Form 4 | Award (pre-split) | 50,000 | — | ; ownership of 3,334 post-split shown 4/24/24 |
Note: Company filings (DEF 14A/10-K) control for ownership amounts/dates; aggregator values provide corroborating context.
Employment Terms
| Item | Disclosure |
|---|---|
| Appointment date | August 1, 2021 (CFO) . |
| Contract compensation | RMB 20,000 per month (approx. $3,091 at time) . |
| Current term | New employment agreement effective Apr 1, 2024 through Mar 31, 2027 . |
| Probation/termination | Initial 6-month probation; company may terminate with 30 days’ written notice for specified events; employee may terminate immediately for nonpayment; customary benefits apply . |
| Non-compete/confidentiality | Employment contract annexes include confidentiality and IP protection/non-competition agreements (terms not quantified in filing) . |
| Severance/CoC | No severance multiples disclosed for Ms. Sun; at plan level, 2018 Equity Plan allows Committee discretion to accelerate vesting upon change-in-control (Sun had no outstanding equity as of FY2024) . |
| Clawback | Company disclosed “Compensation Clawback Disclosures: None” in FY2024 10-K . |
Compensation Committee Analysis (context for pay governance)
- Compensation Committee members: Yan Yang (Chair), Stephen (Chun Kwok) Wong, and Michael J. Antonoplos (eligible during FY2024; he did not stand for re-election in 2025) .
- The 2018 Equity Incentive Plan was expanded; as of Mar 28, 2025 the Board proposed increasing available shares from 2.6M to 7.6M, to be voted at the 2025 annual meeting .
Performance & Track Record
- Financial performance (context under CFO): FY2024 revenue grew to $23.98M (+558.6% YoY) driven by 5G AI multimodal services; however, the company reported a significant net loss, low cash, and going-concern language, highlighting financing and execution risks during rapid scaling .
- CFO signed the FY2024 10-K; internal control enhancement efforts are described, with risk control initiatives underway .
Related Party Transactions (specific to Ms. Sun)
- No related party transactions involving Ms. Sun are disclosed; related-party items disclosed pertain to the CEO and other parties (e.g., leases) .
Equity Plan, Vesting Schedules, and Selling Pressure
- Plan-level: 2018 Equity Incentive Plan includes RSU/option flexibility and potential acceleration on change in control at Committee discretion .
- Ms. Sun: No outstanding unvested equity or options at FY2024 year-end; thus no forward vesting overhang contributing to selling pressure .
- Insider selling pressure: One Form 144 (intent to sell) in May 2024 for a small amount; otherwise minimal holdings as of 2024 and 0% listed in 2025 beneficial ownership table .
Investment Implications
- Alignment: Ms. Sun’s compensation is primarily fixed salary with no disclosed performance-based pay or equity awards in FY2022–FY2024, and minimal to zero beneficial ownership by 2025; this suggests limited direct pay-for-performance alignment and low insider selling overhang from her position .
- Retention risk: A three-year employment agreement effective April 1, 2024 through March 31, 2027 provides continuity and reduces near-term transition risk for the finance function; severance economics are not disclosed, and no clawback policy is in place per FY2024 10-K .
- Governance/watch items: Company-level going-concern language, prior Section 16(a) timeliness lapse (one Form 4) for Ms. Sun in FY2023, and the significant expansion of the equity plan warrant monitoring; however, there is no evidence of Ms. Sun-related RPTs, pledging, or large discretionary awards .
- Net: CFO alignment via equity appears limited, which may reduce insider-sale overhang but also limits performance linkage; execution focus should remain on liquidity, internal controls, and sustaining growth under the CFO’s stewardship, given rapid revenue expansion and capital needs .