According to the Daily Economic News, on April 9, Shanghai Hehe Capital Investment Management Co., Ltd. (Hehe Capital) issued an announcement stating that the company and related enterprises have become seriously insolvent and have major operating risks. They are no longer able to make payments and will suspend payments from now on. Work.
Lin Qiang, the actual controller, chairman and CEO of Hehe Capital, experienced a “disconnection incident” at the end of August last year. Management turmoil ensued, and some products under the “Hehe System” began to be deferred.
China Business News reported that in response to the reason for the “suspension of redemption” announcement on the official website of Hehe Capital and the follow-up arrangements, the reporter called the official customer service of Hehe Capital as an investor, and the other party said that “the leader is already urgently verifying the relevant content of the announcement” and that “after the suspension There is currently no more information on whether to continue to enable redemption.”
A reporter from China Business News combed through its official announcement and found that Hehe Capital’s current redemption ratio is about 13%.
According to the official website, Hehe was founded in January 2016 with a registered capital of 1 billion yuan. Based on diversified businesses such as equity investment funds, securities investment funds, bill investment funds, real estate funds, overseas asset allocation, and family trusts, investments are made through equity parent funds, private securities investment funds, EAM platforms and other entities. The company’s investment team comes from leading banks, securities firms, futures companies and other outstanding institutions in the industry, and generally have more than ten years of practical experience in the financial field.
Lin Qiang is one of the three major partners of Hehe Futures. In 2021, Lin Qiang fully acquired Hehe Futures and became the actual controller, with a final shareholding ratio of 100%.
It is reported that the annual sales volume of “Hehe” companies exceeds 30 billion yuan, of which at least 20 billion yuan is the financial exchange bill products directly controlled by Lin Qiang himself, as well as some third-party sales such as futures asset management.
Public information shows that Lin Qiang is a director of Hehe Futures Co., Ltd. and chairman and CEO of Shanghai Hehe Capital Investment Management Co., Ltd. Lin Qiang graduated from Shanghai Jiao Tong University majoring in international economics and trade, received an EMBA master’s degree from Shanghai Jiao Tong University and a DBA doctorate from Peking University. Lin Qiang has more than ten years of experience in the financial industry and has worked in large financial institutions such as Cathay Life Insurance, China International Finance Corporation Securities, and China International Finance Fund. In 2021, Lin Qiang was selected as one of the “Top Ten Outstanding Young People in Lujiazui Financial City”.
According to a report by China Business News on April 9, Hehe Capital’s official customer service confirmed to reporters the news of Lin Qiang’s disappearance: “We have not contacted him since he lost contact at the end of August last year. We have not received any information about his whereabouts.” All these things (referring to the redemption crisis) started when Lin Qiang lost contact.”
It is reported that Lin Qiang’s disappearance is related to the “gray property case” involving debt circle boss Yu Lei’s 30 billion urban investment bonds. Legend has it that Lin Qiang also took away all the money Yu Lei earned and ran away to Singapore, a huge sum of about 1 billion. Yu Lei is known as the “invisible brother in the debt circle”. According to Caixin’s previous investigative report on Yu Lei, in the urban investment structured bond issuance system established by Yu Lei, in addition to linking many institutions and private equity, Lin Qiang is Yu Lei’s most important agency sales channel.
Yu Lei was originally a little-known investment manager of Zhongyuan Futures. He accumulated more than 1 billion in wealth in just three years. Caixin reported that he connected with the urban investment platform through an intermediary, and connected with the capital side at the other end. By connecting a number of licensed institutions and various private equity vests, he formed a large network of structured bond issuance and issued a total of 30 billion in urban investment management products. .
Yu Lei mainly targeted urban investment with weak qualifications, and worked with many partners through consulting companies and other channels to collect “rebates” to make profits. While quickly accumulating wealth, he unknowingly went astray and put himself in shackles. , Yu Lei was taken away in early 2023.
Caixin reported that after the Yu Lei case, Lin Qiang has been stranded in Hong Kong and accelerated money laundering abroad. On the evening of August 25, Lin Qiang disappeared into the Hong Kong night after a gathering with senior executives of the “Hehe Group”.
In early 2024, Yu Lei was released on bail pending trial. After Yu Lei came out, he found that most of the hundreds of millions of wealth he originally earned had been “swept away” by his partners and moved abroad. It is reported that it was Lin Qiang who took away the huge sum of money. Yu Lei, who was already suffering from severe depression and under the pressure of returning huge amounts of stolen money, was overwhelmed and eventually committed suicide.
Caitong News reported that on March 13, an investor asked for help on a social platform because the Ping An Trust Xiangyuan No. 230 collective fund trust plan he bought defaulted.
According to the announcement, the trust plan was established on June 30, 2020, with a duration of 30 months, which will expire on December 31, 2022.
The trustee has issued a delayed distribution announcement on August 31, 2022. The trust funds are mainly used for the income rights of specific assets of the Chongqing Rongsheng City project and will be repurchased by the financiers upon maturity. The financing funds are mainly used for the construction of the Rongsheng City project. .
For this project, the financier provided four land mortgages under its name, Chongqing Rongsheng Xinyu Real Estate provided one land mortgage guarantee, and Rongsheng Real Estate provided joint liability guarantee.
Rongsheng Development has already had problems as early as 2022, and its performance has declined across the board. In 2022, it even suffered a loss of 16 billion, with less than 20 billion in monetary funds, but short-term borrowings + non-current liabilities due within one year totaled 26 billion. Since June 2023, it was once on the verge of delisting due to less than 1 yuan, and Rongsheng was involved in a 600 million merger and acquisition loan from Shengjing Bank.
As for Ping An Trust this time, it is the listed asset of AH listed company Ping An of China, and Ping An of China holds over 98% of the shares. As of mid-2023, Ping An Trust’s assets exceeded 6 trillion, and dividends received 834 million, a significant decrease from last year’s 2.554 billion.
In recent years, trust companies have experienced thunderstorms frequently. Xinhua Trust, Sichuan Trust, and Cedar Trust have experienced thunderstorms one after another. Due to the breakthrough in rigid redemption, tens of thousands of investors lost their money.
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2024-04-09 20:41:33
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