Zhuoyu Li
About Zhuoyu Li
Zhuoyu Li, 33, is Chairman of the Board and Chief Executive Officer of ENFY, roles he has held since December 2017 following service as President; he studied business at the University of Auckland in 2012 and previously held operational roles at affiliate 900LH.com from 2013–2016 . Under his tenure, ENFY reported revenues of $95.8M in FY2024 and $75.3M in FY2025, with net losses of $(28.4)M and $(15.6)M, respectively; NYSE Regulation commenced delisting proceedings in October 2025, elevating execution risk and capital markets constraints . On June 23, 2025, the Board appointed director Jian Huang as Co-CEO to lead blockchain/crypto expansion while Li remained Chairman/CEO/President, signaling leadership bandwidth sharing amid strategic diversification .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ENFY (formerly China Green Agriculture) | President; then Chairman & CEO | President from May 2016; Chairman & CEO since Dec 2017 | Continuity of leadership post-founder transition; oversight of fertilizer core and crypto entry . |
| 900LH.com (affiliate) | Senior Manager (Customer Center) | Mar 2013 – Jan 2015 | Customer operations, domestic market development . |
| 900LH.com (affiliate) | Senior Manager (International Dept.) | Jan 2015 – Jan 2016 | International market development . |
| 900LH.com (affiliate) | Chief Operating Officer | Jan 2016 – 2016 | Operational leadership at affiliate prior to ENFY presidency . |
External Roles
| Organization | Role | Years | Strategic Impact / Notes |
|---|---|---|---|
| Xi’an TechTeam Science & Technology Industry (Group) Co., Ltd. | Chairman | Not disclosed (disclosed as current in risk factors) | Time-allocation risk cited; potential related-party exposure . |
| Xi’an TechTeam Investment Holding (Group) Co., Ltd. | Chairman & CEO | Not disclosed (disclosed as current in risk factors) | Time-allocation risk; oversight of other entities (e.g., Gem Grain) . |
| Kingtone Information Technology Co., Ltd. | Chairman | Not disclosed (Chairman as of lease renewal dated Jul 1, 2022) | Related-party office lease with ENFY subsidiary (Jinong) . |
Fixed Compensation
| Metric | FY2023 | FY2024 |
|---|---|---|
| Base Salary ($) | 300,000 | 300,000 |
| Target Bonus % | Up to 40% per employment agreement | Up to 40% per employment agreement |
| Actual Bonus Paid ($) | 96,000 | 96,000 |
| Perquisites | Minimal per company practice | Minimal per company practice |
| Deferred Compensation | None | None |
| Pension/SERP | None | None |
Notes:
- No compensation consultant used; management believes packages are comparable locally .
- Compensation Committee (independent directors) oversees executive pay .
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Annual Cash Bonus | Not disclosed | Not disclosed | Up to 40% of salary | $96,000 paid in FY2023 and FY2024 | Cash; annual . |
| Equity (RSUs/PSUs/options) | N/A in FY2024 | N/A | N/A | No grants to NEOs; no outstanding awards | N/A . |
Context and plan capacity:
- ENFY maintains 2009 and 2023 equity plans; on Apr 25, 2025 the Board approved amending the 2023 Plan to add 3.0M shares (to 5.7M total), subject to shareholder approval, after fully utilizing the initial 2.7M capacity as of Apr 29, 2025 .
- Change-in-control terms provide immediate vesting of unvested awards unless award agreements state otherwise; with no unvested awards for Li in FY2024, indicated CoC value was nil .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership | 937,033 common shares (5.81% of 16,116,914 outstanding as of Apr 29, 2025) . |
| Ownership Composition | Includes 804,135 inherited from father’s estate (41,449 held by mother) . |
| Vested vs. Unvested | No outstanding equity awards; all holdings are common shares; “Outstanding Equity Awards: None” at FY end . |
| Options (Exercisable/Unexercisable) | None outstanding . |
| Pledging/Hedging | Insider Trading Policy prohibits hedging transactions; no specific pledging disclosure noted . |
| Ownership Guidelines | Not disclosed in proxy . |
Employment Terms
| Term | Provision |
|---|---|
| Initial Agreement | Employment agreement effective May 19, 2016 as President; base $100k and up to 40% bonus; stock awards under plan . |
| CEO/Chairman Transition | Appointed Chairman and CEO on Dec 18, 2017 with same compensation as predecessor; annual base $300k and bonus up to 40% . |
| Term/Auto-Renewal | Initial one-year term; auto-renews annually unless 60 days’ prior written notice (President agreement) . |
| Termination (Without Cause) | Payment shown for “Termination Without Cause” as $25,000 (as of Jun 30, 2024) . |
| Termination Mechanics | Employer may terminate with 30 days’ written notice (no termination pay) or immediately with one month’s salary in lieu; immediate termination for cause . |
| Change-in-Control | Unvested awards vest immediately unless otherwise specified; with no unvested awards, indicated CoC value was $0 as of FY2024 . |
| Non-Compete/Non-Solicit | Not disclosed for Li in proxy narrative . |
| Clawbacks/Tax Gross-ups | Not disclosed . |
Board Governance and Service
- Board service and roles: Li has served as a director since 2017 and is Chairman of the Board; he is not independent as an executive .
- Dual-role governance: Company maintains combined Chairman/CEO structure, citing Li’s operational knowledge; a Lead Independent Director (Lianfu Liu) is designated as counterbalance, and committees are fully independent .
- Committees and leadership: Audit (Chair: Tianping Cai; Cai is an Audit Committee Financial Expert), Compensation (Chair: Jinjun Lu), Nominating (Chair: Lianfu Liu); all committees composed entirely of independent directors .
- Board activity: The Board held 8 meetings in FY2024; each incumbent director attended at least 75% of meetings/committee meetings held during their tenure .
- Director compensation: Separate director fees disclosed for non-employee directors; no separate director retainer/fees are disclosed for Li as an executive director (he does not appear in the director compensation table) .
Performance & Track Record (Company-level during Li’s tenure)
| Metric | FY2024 | FY2025 |
|---|---|---|
| Revenues ($) | 95,845,788 | 75,284,871 |
| Net Income ($) | (28,405,315) | (15,602,160) |
| Strategic Events | Crypto mining business launched (Antaeus Tech; 2023), later leadership augmentation with Co-CEO for blockchain/crypto (Jun 2025) | NYSE Regulation delisting proceedings commenced Oct 13, 2025; trading suspended |
Related Party Transactions (Governance Risk Indicators)
- Amounts due to related parties totaled $5,511,053 as of Jun 30, 2024 (vs. $5,439,209 in 2023) .
- Unsecured, non-interest-bearing loans/advances involving entities controlled by Li: Gufeng borrowed $962,500 (2024) from Xi’an TechTeam Science & Technology Industry (Group) Co., Ltd. (controlled by Li); advances from Li totaled $2,336,693 (2024) .
- Office lease: Jinong renewed a lease on Jul 1, 2022 with Kingtone Information Technology Co., Ltd., where Li served as Chairman; 612 sqm for RMB 28,000/month (approx. $3,837) for 2 years .
Compensation Committee and Governance Practices
- Compensation Committee membership (FY2024): Jinjun Lu (Chair), Daqing Zhu, Lianfu Liu, and Cui Song; all non-employee and independent; no interlocks or insider participation disclosed .
- Compensation consultant: Company did not use a compensation consultant for executive/director pay determinations .
- Equity grant timing: Committee policy to avoid grants around MNPI and SEC reporting windows; no NEO equity grants in FY2024 .
Investment Implications
- Pay-for-performance alignment: Li’s pay mix skews heavily to fixed cash (base $300k plus consistent $96k bonus), with no disclosed performance metrics and no equity grants in FY2023–FY2024, limiting long-term incentive alignment and reducing leverage to TSR/financial outcomes .
- Vesting and selling pressure: No outstanding equity awards implies limited forced selling from vesting; however, shareholders face potential dilution if the proposed +3.0M share increase to the 2023 Plan (to 5.7M total) is approved and utilized .
- Ownership alignment and conflicts: Li’s 5.81% stake (937,033 shares) provides material skin-in-the-game; however, notable related-party loans and leases with entities he chairs introduce governance overhang and potential conflicts that investors should monitor .
- Retention/contract economics: Employment terms feature small cash severance ($25k) and standard at-will/notice provisions; CoC acceleration is moot without unvested awards—indicating low contractual retention costs but also low long-term incentive binding .
- Board governance and dual role: Combined Chairman/CEO structure is partly mitigated by a Lead Independent Director and independent committees; nonetheless, independence and oversight concerns remain common for dual-role structures, especially given related-party transactions .
- Execution and trading risk: FY2025 loss-making profile, delisting proceedings (trading suspended on NYSE), and strategic pivot to Bitcoin mining elevate business model, capital markets access, and liquidity risk; leadership addition of a Co-CEO in crypto may help execution but adds complexity .
Key watch items: outcome of equity plan amendment vote and grant cadence; any Form 4 insider activity by Li (sales/pledges); governance remediation around related-party balances; progress on profitability; exchange listing status resolution **[857949_0001213900-25-039748_ea0240613-def14a_enlightify.htm:20]** **[857949_0001213900-25-039748_ea0240613-def14a_enlightify.htm:21]** **[857949_0001213900-25-039748_ea0240613-def14a_enlightify.htm:17]** **[857949_0001213900-25-100566_ea0260513-10k_enlightify.htm:2]** **[857949_0001213900-25-100566_ea0260513-10k_enlightify.htm:27]** **[857949_0001213900-25-100566_ea0260513-10k_enlightify.htm:58]**.