"The Ice Cream Assassin" has finally fallen, with tens of thousands watching as Zhong Xuegao goes bankrupt and liquidates, 508 intangible assets sold for 21.1 million yuan, founder: can pay back a bit more money

"Can stand in the center of ten thousand people, radiating boundless glory. Can stay alone, but you alone are a thousand armies." On January 15 this year, Lin Sheng posted a video.
More than three months later, he truly stood in the center of ten thousand people—only in front of a judicial auction viewing area.
On May 7, the results of the auction of 508 intangible assets under Zhong Xuegao Food (Shanghai) Co., Ltd. (abbreviated: Zhong Xuegao) were announced, with an initial bid of 2.07 million yuan and a winning bid of 21.1 million yuan, delayed 621 times, with 14 people registering, 65 people following, and over 13k watching.
It is reported that these 508 intangible assets include: 492 registered trademarks, 8 authorized patents (including 2 utility model patents and 6 design patents), and 8 copyrights (including 7 works copyrights and 1 software copyright).
On May 7, during the auction, a reporter learned exclusively from Zhong Xuegao founder Lin Sheng that he had anticipated the bidding war for the auction items, "I expected there would be competition, the administrator set the starting price low." After the auction, Lin Sheng told the reporter: "Can pay back a bit more money."
A once-hot internet celebrity ice cream was put on the auction shelf. How did the once-dominant ice cream internet celebrity come to this point?
Rewind to May 20, 2018, when Zhong Xuegao launched 6 original ice cream flavors online for the first time, gaining 4.55 million fans in just three years, becoming the brightest star in the ice cream industry. Founder Lin Sheng said with his mouth "not willing to be called an internet celebrity," but he understood in his heart: "Internet celebrities are the bridges through which brands cross the river to reach consumers' hearts." He firmly believed Zhong Xuegao would not be just a passing trend.
But this trend quickly turned into a storm. In mid-2021, the China Consumers Association publicly criticized it, and almost every summer, Zhong Xuegao trended on social media for issues like pricing, quality, and false advertising. The affordable sub-brand "Zhong Xue Bu Gao" failed, wage arrears rumors became true, office lease was terminated, Lin Sheng livestreamed to pay debts, and bowed to 729 employees owed wages. The company and Lin Sheng himself were restricted from high consumption, with case-related amounts totaling tens of millions of yuan, and the company's assets have entered bankruptcy liquidation. $ETH
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