Zhang Jin (right).Source: Cedar Holdings Official Website, please contact deletion on infringement.
Author | Chen Fu Ye
Edit | Pudding
Produced | Prism · Tencent Xiaoman Studio
"It is finally qualitative. A world's top 500 ended in this way, which is rare in business history." On May 8th, an investor lamented the author.
On May 7th, the Huangpu Branch of the Guangzhou Public Security Bureau issued a case notice that Guangdong Yuanfang Investment Co., Ltd. and other suspected illegal absorption of public deposits were filed for investigation. The main suspect Zhang and others were taken criminal compulsory measures.Guangdong Yuanfang was wholly -owned by Cedar Holding Group. According to Caixin and other media reports, Zhang Jin, the chairman of the Cedar Holding Board of Directors, Zhang Jin.
Before the case announcement, there were media reports that many cedar executives have been controlled, such as Vice President Lin Weilong, Xie Shaobin, who are in charge of funds, etc. The case involved in the two people includes fund -raising.
Zhang Jin was controlled by criminal this time, not a sudden incident.The former employee of a Cedar Holdings revealed to the author that Zhang Jin had been controlled and monitored last year.However, many people did not think that Zhang Jin would be detained.
On the afternoon of May 8th, "ST Xuefa", a listed company of Cedar Holdings, issued an announcement saying that they could not contact Zhang Jin, the actual controller.
In 2018, Cedar entered the World Fortune 500 list of Fortune 500 for the first time with a revenue of $ 32.7 billion.
Cedar is known as "Guangzhou First Private Enterprise". According to its official website, its business includes five major sections: commodity industry, commodity supply chain, chemical industry, industrial investment, and trust, and control the development of Cedar (002485.SZ)Qi Xiang Tengda (002408.SZ), two major listed companies.
In recent years, Cedar raised funds to the public through a series of dazzling operations. The products have been thunderstorms one after another, which has also been questioned by "self -financing", "illegal fundraising", and "illegal storage".In February last year, the prism had allowed employees to betray the company's secret with 1,000 yuan: When Douyin Taobao fought, paid was tens of thousands of questions, and reported it.
Today, the subsidiary has been filed for investigation, and the boss was taken criminal measures.
Not only "Yuanfang Investment Company" was established
In the aforementioned case notice, the emergence of Guangdong Yuanfang Investment Co., Ltd. surprised many people.
According to the previous reports of the prism, many of the wealth management products of Cedar "thunderstorms" are "creditor's right transfer projects" and "directional financing plan". These wealth management products often involve multiple companies to use the "debt transfer project".For example, it will involve creditors, debtors, trading platforms, asset management companies, etc.
Among them, the debt relationship between creditors and debtors is the underlying assets of these wealth management projects, and creditors will package these underlying assets to the gold exchanges and pseudo -gold exchanges.Investors transfer the money to the asset management company, and the latter will delist these underlying assets on the trading platform and pay relevant interest to investors.
Many creditors, debtors, and asset management companies have a lot of relationships with Cedar. Cedar will also have a letter of promise to investors. If the asset management company cannot repay the principal and interest, they will bottom out.
According to the information provided by investors to the author, Guangdong Yuanfang plays the role of "asset management company" in some wealth management products.For example, the asset management company of the "Cedar Chengdu Jiuwan Zhongan 12M Finance Plan" is the company. Some investors have invested 1.5 million yuan in this project, and so far they have not recovered the principal.
Industrial and Commercial Information shows that Guangdong Yuanfang was established in February 2016. It was originally called "Guangdong Yuanfang Private Fund Management Company". Its legal representative is Zhou Ting, while Zhou Ting is an executive of Cedar Holdings and serves as many as many as many as a many.The legal representative of the affiliated company.
An investor of a cedar wealth management product analyzes the author that Guangdong Yuanfang may be a company used by Cedar in early financing. Later, after the private equity fund management was strict, the company rarely appeared.
At the same time, Guangdong Yuanfang, as a wholly -owned subsidiary of Cedar, will have a certain impact on Cedar when fundraising. Some asset management companies established later are not directly related to Cedar in terms of equity, butCedar is the guarantor of the investment agreement of these asset management companies.Investors believe that these asset management companies are Cedar's "white gloves" and suspect that the funds raised will eventually go to Cedar's account.
"Huangpu Police used the word 'waiting', that is, there are other companies involved in the case. As far as we know, these companies involved are mostly asset management companies.They were. "The aforementioned investor said.
The author saw on the "Guangzhou Economic Investigation Investor Information Registration System" on the official website of the Guangzhou Public Security Bureau.Shang Investment Management (Shenzhen) Co., Ltd., Shenzhen Jiatai Century Asset Management Company, etc. These companies are "asset management companies" of Cedar wealth management products.
According to the author's inquiry, except for Shenzhen Qianhai Qidi and Shenzhen Asia -Pacific Yingxin may have nothing to do with this case, several other companies are related to Cedar wealth management products.
According to the author's previous statistics, in Cedar's wealth management products, Shenzhen Tianyun Junye and Shanshi Investment are the two main asset management companies. Most of the wealth management products guaranteed by Cedar are related to these two companies.Essence
As early as the end of 2021, investors went to the two companies to discuss, but found that there was already "people go to the building."Today, the two companies appear on the "information registration system of public investors", which means that the police have filed a case for most of the cedar's wealth management products.
"Thunderstorm", still push the product
An investor recalled to the author that at the beginning of this year, the Guangzhou police had asked some investors to ask about the situation.wait.
"At that time, the police mainly investigated the wealth management products after 2021," said the investor.In her opinion, in 2021, some of the wealth management products of Cedar had been thunderstorm, but at that time, some people were still promoting new wealth management products to attract new investors to enter and let the previous investors "unravel".
It is worth noting that according to the aforementioned case notice, companies such as Guangdong Yuanfang were filed for investigation and punishment because they were suspected of "illegal absorption of public deposits".wait.
To this day, many investors still believe that these actions of Cedar are "fraud". They believe that the underlying assets of many products do not realize, and the procurement of some large items is also fictional.
For example, according to the information provided by investors, in July 2020, Guangzhou Chai Fu Energy Company purchased an electrolytic copper worth 185 million yuan from Shanghai Yiyi Trading Company. The former needs to pay the full payment within half a year.However, the pick -up list of Shanghai Yiyi shows that all important information such as the pick -up warehouse, the name of the consignee, the contact information of the consignee, and the delivery requirements are all empty. Investors believe that these vacant information may meanReally lifted away.
In addition, many of the debtors of these wealth management products "underlying assets" are "state -owned enterprises", but after thunderstorms, some so -called "state -owned enterprises" quickly changed business information. The shareholders changed from "state -owned assets" to "individual".Or "private companies".
For example, Shoujun Supply Chain Co., Ltd., ShouzunSupply Chain Co., Ltd. is such a "state -owned enterprise". Before this, after penetrating the equity, its wholly -owned shareholders were Jiuyuanji Investment Co., Ltd..Enterprises with state -owned assets and other state -owned assets.
In the first half of 2022, the two "state -owned enterprises" changed shareholders and became "private companies."
20 billion wealth management redemptions have no time limit
On May 7th, Caixin wrote in an article that as early as a year ago, Zhang Jin and many executives were taken away by Guangzhou Economic Investigation, but many people were askedPut it out one after another.A person close to the Guangzhou Municipal Government said that if Zhang Jin can pay for it for a period of time, he may be exempted from criminal punishment according to relevant policies.
Huangpu Police wrote in the latest case notice that Zhang Jin has adopted "criminal compulsory measures" for Zhang Jin. At present, Zhang Jin is likely to lose personal freedom.
In fact, in Cedar's financing games, many wealth management products are not directly issued by Cedar, and Cedar plays the main role of "Guarantor".However, because the creditors, debtors, asset management companies, and financial management of the financial products have a direct or indirect relationship with Cedar, which makes the outside world think that these wealth management products are cedar.
In the second half of 2021, when investors began to defend their rights, they always wanted to talk directly with Zhang Jin to let him solve these problems.
On December 22 of that year, Cedar Holdings also submitted a report on the redemption plan of relevant wealth management products to the Huangpu District Political and Legal Committee, admitting that the wealth management products that they were used to make up for the obligations were overdue.In the promotion arrangement, Zhang Jin all signed the name.
At that time, many investors saw hope -Zhang Jin finally acknowledged that these wealth management products were related to him.They believe that the mines of wealth management products are not a difficult problem for the boss of the world's top 500.
After a few days, the legal representative of Cedar Holdings was also changed from Fan Jiayu to Zhang Jin, while the former was limited to high consumption because the financial products were overdue by investors.
In February last year, Liu Bin, an executive of asset management, disclosed some data when communicating with investors.According to him at the time, the total fundraising of these wealth management products of Cedar was about 20 billion. There were about 8,000 investors, and the average investment amount per person was about 2.5 million.
After thunderstorms, Cedar also proposed a treatment plan, but in the end, the problem was not solved.
Some investors told the author that last year, cedar returned 1%of the principal to the investment of some wealth management products, and also provided some investors with major diseases.But for the total amount of fundraising of 20 billion, it is only a lot of money, and most investors are still waiting.
