Yuan Zheng
About Yuan Zheng
EMCG’s Chief Financial Officer (also referenced in filings as “Zheng Yuan”) has served as CFO and a director since March 2021, and is listed as the company’s CFO contact in the 2025 proxy materials . She previously served as Acting CFO and Administrative Director of Ningbo Super fan Culture Media Co., Ltd. and as Vice President of International Banking at Bank of Beijing; she holds master’s and bachelor’s degrees from Tianjin University of Finance and Economics . EMCG is a blank check company focused on completing a business combination (no operating business metrics provided), so TSR, revenue growth, and EBITDA growth disclosures for her tenure are not applicable in company filings reviewed . Notably, she personally financed EMCG via $841,112 of zero-interest, convertible promissory notes (plus $144,060 in vendor payments), which may convert at $10 per unit into private-placement-equivalent units upon a de‑SPAC, indicating material “skin in the game” .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Ningbo Super fan Culture Media Co., Ltd. | Acting CFO and Administrative Director | Jun 2017–Aug 2021 | Board cites her “extensive and long-term multinational financial management experience” as helpful to identifying financial risks of potential targets |
| Bank of Beijing Co., Ltd. | VP of International Banking | Oct 2010–Mar 2016 | International banking leadership experience |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Not disclosed in EMCG filings reviewed | — | — | — |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (CFO) | Not listed with a reported position in the DEF 14A beneficial ownership table; individuals named for executives show “-” (no amounts listed) |
| Personal financing to EMCG | $841,112 zero‑interest convertible promissory notes (Oct 2023–filing date) plus $144,060 paid to vendors on EMCG’s behalf; convertible at $10 per unit into units identical to IPO private placement units upon the Business Combination |
| Unit economics (reference) | IPO units consisted of one Ordinary Share, one warrant (exercisable at $11.50), and one right (entitles holder to 1/8 share upon a Business Combination) |
| Shares outstanding (Record Date) | 4,520,024 Ordinary Shares outstanding as of July 22, 2025 |
| Concentrated holder (Sponsor) | Wuren Fubao Inc.: 2,221,964 shares (49.2% of outstanding) |
| Other large holders | Wolverine Asset Management: 466,542 (10.3%); Mizuho Financial Group Inc.: 400,320 (8.9%); Polar Asset Management: 250,000 (5.5%); TD Securities (USA) LLC: 240,719 (5.3%) |
Employment Terms
| Term | Detail |
|---|---|
| Current role and start | CFO and director since March 2021 |
| Location/citizenship (from risk factors) | Resides in the U.S.; citizen of China (relevant to CFIUS “foreign person” analysis) |
| Contract term, severance, change‑of‑control, non‑compete | Not disclosed in filings reviewed |
| Stock ownership guidelines, pledging/hedging | Not disclosed in filings reviewed |
Performance Compensation
No disclosure of base salary, target/actual bonus, stock/option grant values, performance metrics, vesting schedules, or clawback terms for the CFO was found in the EMCG proxy/10‑K materials reviewed. EMCG is a SPAC with scaled disclosures; filings focused on extension and business combination processes rather than NEO pay details .
Related Party and Incentive Levers (Selected Data)
| Metric | Detail |
|---|---|
| CFO loans: terms | Zero interest; repayable at de‑SPAC or convertible at holder’s election into private‑placement‑equivalent units at $10 per unit |
| Trust account balance | ~$26.9 million in the Trust Account as of July 25, 2025 |
| Pro forma redemption price | ~$12.08 per Public Share as of Aug 7, 2025 (illustrative) |
Risk Indicators & Trading Context
- CFIUS exposure: EMCG is likely considered a “foreign person” given CEO and CFO ties; a U.S. target could face CFIUS review, delay, conditions, or blockage, potentially narrowing target set and timeline to close .
- Nasdaq 36‑month rule: Nasdaq requires a business combination within 36 months of IPO effectiveness (Aug 9, 2025 for EMCG); extending to Aug 12, 2026 would likely trigger suspension and delisting from Nasdaq, with trading moving OTC and associated adverse consequences .
- Extension payment arrears: EMCG disclosed being behind on Trust Account extension deposits by $675,000; while it expects to pay before a Business Combination, liquidation risk exists if payments are not made .
- Redemption dynamics and liquidity: Record date shares outstanding were 4,520,024; with a trust-derived redemption price of ~$12.08 per share vs. $12.15 market close (July 25, 2025), implying limited arbitrage and potential for high redemptions impacting deal cash .
Investment Implications
- Alignment and retention: The CFO’s $841,112 of zero‑interest, convertible funding plus $144,060 of vendor payments indicate tangible commitment to seeing a de‑SPAC through; conversion at $10 per unit into private‑placement‑equivalent units ties personal upside to successful close and post‑deal equity performance .
- Ownership optics: The DEF 14A’s beneficial ownership table does not show a direct equity stake for the CFO; alignment is principally via the convertible notes and any future conversion, while Sponsor control is significant at 49.2% .
- Execution risk: CFIUS “foreign person” status, extension deposit arrears, and Nasdaq’s 36‑month rule materially raise execution and listing risks, which can influence redemption behavior and post‑deal trading dynamics .
- Trading signals: High Sponsor concentration, potential delisting if extended beyond Aug 9, 2025, and tight trust‑to‑market spread suggest a setup where redemption rates and regulatory milestones are key catalysts; successful resolution of arrears and regulatory clearance would be necessary to reduce risk premia .