Wang Han of reporter of economic observation newspaper " my fund portion expired, do not have income of a minute of cash up to now. Jin Cheng lets me sign exhibition period agreement however, after although acceptance says,be being signed can according to do not undertake returning a money under every months of scale of 5% , I also am not willing to believe. " on April 10, the investor king grand that item of platform of gold of the investment since last year March already expired tells economy observation signs up for.
Once " run quickly madly " Jin Cheng group of 10 years, development turning point was received 2018. In those days by April, bureau of Zhejiang card inspect begins illicit recruit special inspection, the company of collect of 5 family property below division of Jin Cheng group rejects to cooperate to check the work, legal representative of superintendency requirement company accepts superintendency talk to card inspect bureau. Subsequently, bureau of Zhejiang card inspect sells company Jin Guancheng 3 times to allot to the fund below the banner instruct the decision that correct and suspends dealing with fund to sell relevant business.
During this, the risk that fault of deadline of the fund below division of Jin Cheng group compounds begins to show. Enter originally open period fund stops redemptive, begin the case of cash of occurrence exhibition period; At the same time because of credit problem, the company cannot obtain the loan that give a letter in regular financial system, so far Jin Cheng group is immersed in truly " fluidity predicament " .
Jin Cheng group exposes to the sun after giving cash crisis nearly one year, recombine, exhibition period... the motion is constant. Current condition is, company liquidity still did not restore, investor does not take money as before. Sincere group recombines gold of investment hostage doubt reliable, how will cash return to normal again after requirement investor signs exhibition period agreement? At the same time investor also is in the capital flow direction that oppugns the project below division of Jin Cheng group.
Reporter of economic observation newspaper recombines with respect to flow direction of relevant project financing, company reach fluidity to restore the pertinent question such as progress to contact respect of Jin Cheng group, reply of the other side says: The company believes the written requirement that visits a delegate and governmental demand according to investor, preparing actively hold investor to represent the conference, the capital whereaboutldirection with respect to each projects, asset (project) plan of circumstance, reimbursement do farther specification.
The group explains Jin Cheng, "Come nearly one year, suffer market liquidity and policy change effect, partial fund product has delay cash appearance truly, the worry that brings to broad investor from this feels apology. Current, I manage besides according to superintend the problem that point out, undertake rectifying and reform besides, it is a Chongzhongzhi that solves liquidity problem to serve as the job more heavy, have confidence and the legitimate rights and interests that ability guarantees all investor. Have confidence and the legitimate rights and interests that ability guarantees all investor..
The doubt of investor: 2 billion flow direction is unidentified
Net of officer of Jin Cheng group shows, this company held water 2008, headquarters is located in Hangzhou, up to now, jin Cheng group is core product with characteristic small town, subordinate already company of finance of the star of industry of fortune of new town of include Jin Cheng, Jin Cheng, Jin Cheng, Jin Cheng, culture having an elephant, hotel, estate, Jin Cheng, public (Jin Cheng accuses, 1462.HK) wait for 9 board piece.
And division of Jin Cheng group issues core board gold nugget sincere fortune is management of fund of collection secret collect and fund sale at an organic whole, ceng Gong exceeds 70 billion yuan with dimensions of product of administrative illicit collect. A fund is had to sell company Jin Guancheng below the banner, have gold of canal of new Yu Guanyue, new Yu Guanfu, Jin Cheng endowment, Hangzhou to turn at the same time Jin Zhongxing of source, Hangzhou, Hangzhou is watched answer the illicit collect that 6 classics put on record fund management person.
Crisis of cash of Jin Cheng group is inchoative Yu Jincheng fortune.
What Wang Hao observes to economy newspaper reporter is revealed is the Jin Cheng that he participates in fund of collect of the illicit below fortune banner -- " city of altar of gold of Jin Cheng Changzhou spends development fund 6 " project (next weighing " Jin Tan project " ) . Show according to contract content, canal of Jin Cheng endowment serves as administrative person to establish, collect dimensions 600 million yuan, year change investment target outstanding achievement for 9.9% . Of mark ensure room and project of municipal project PPP for developing zone of economy of Changzhou gold world. 2016, the international of as square as the government hair of nation of Jiangsu gold world after company assemble makes a canal of Jin Cheng endowment win the bid invests development limited company (next weighing " the country sends Jin Tan " , cast platform for city of region of Changzhou gold world) each are occupied 80% , the 20% Changzhou town that established to register capital to be 1 billion yuan jointly Jin Ze invests Jin Tan administrative limited company (next weighing " jointly owned company " ) , the safeguard house building that is in charge of building this development dish, the PPP project such as afforest of municipal road, landscape.
Above is golden platform item only the 6th period collect dimensions, the reporter interviews understanding to include the illicit collect product that 16 still are moving or delay liquidates at least to golden platform item, up to by 2018, fund portion has many 3.1 billion, according to initiative net value 1 yuan is calculated, accumulative total makes an appointment with collect to exceed 3.1 billion yuan, exceed 700 investor to participate in investment.
Come when this year April, the share of golden platform item that Wang Hao owns expires, did not obtain fund to answer paragraph and corresponding accrual redound up to now.
So, is item of platform of Jin Cheng gold true exist? The reporter is newest those who get " about Jin Cheng Jin Tan invests crowd interlocution collect " the file shows, up to this year on April 3, the 3 place of item of Changzhou gold platform ensure sexual housing to all finish the 90% above that always build plan, prepare or already entered check and accept level beforehand; Chief reply ensures a room to predict complete will be checked and accept October this year related Jin Cheng group, municipal project enters complete to check and accept, etc check and accept the government after finishing to be able to begin 6 years minute to counter-purchase.
Is project financing reachs the designated position and using a case how? Investor tells economy observation signs up for, partial fund holder went on January 15, 2019 developing zone of economy of Changzhou gold world is on-the-spot survey this project and to local government consult hind is informed, jointly owned company uses fund actually 1.3 billion, already returned a money at present 200 million, shang Cunyu 1.1 billion.
Does the rest flow to He Fang 2 billion yuan? The with Zhuang Huijun of general manager of company of project jointly owned recording that according to investor Wang Hao offers, because bank network silver and financial You Jincheng are used surely,Zhuang Huijun says, jin Cheng group collects 2 billion yuan in 3.1 billion yuan of fund the Zhejiang that appoints to Jin Cheng to concern a company, these capital decide without collective of board of directors of jointly owned company before remit.
In investor according to Wei Jie the delegate communicates what can go up to talk a way: "The flow direction of money basically is project correspondence the cost that current and actual happening, include but not cost of land of be confined to, project fund expenses, relevant duty expends overhead expenses; During capital is unused, undertake to ease cost pressure conduct financial transactions invests; According to fund contract agreement, pay the investment of early days investor get one's own back. Pay the investment of early days investor get one's own back..
Up to in September 2017, conduct propaganda of Jin Cheng group weighs 59 to have project of characteristic small town, governmental project autograph measures more than 570 billion yuan about. Up to in September 2018 portion, the fund dimensions of add of remain after deduction of division of Jin Cheng group is 15.7 billion yuan, include the fund share of project of governmental infrastructure bond and management of Jin Cheng proper motion, collect.
Feedback according to investor, the Jin Cheng group before 2013 is product of a conduct financial transactions only sell goods on a commission basis company, pass intelligence of pair of financial license plate subsequently explain get, begin large-scale in issueing short-term kind firm accepts fund product; Build at the same time went up financing of local government PPP and fundamental construction service, lending politics letter the product endorse begin to be in capital end and asset end undertake deadline fault matchs, borrow return newly old wait for a variety of operations, formed from this later alleged " Jin Cheng mode " -- the frame that signs project of a PPP with local government first, the illicit collect product that establishs engrave to wear this project subsequently begins to sell, the product that sells at the same time distributes the item from fault of the fractionation on time.
"Financial product deadline of Jin Cheng is 1-2 commonly year, but the project is built period Yuan Chao spends this time, especially 6 years above ability answers PPP project the paragraph is normal, so the group needs Jin Cheng by issue the fund from the back to come the capital before cash. In May 2018 portion hind is superintended to make stay time of half an year, fund sells end to cannot begin collect work, measure time when collect of cash amount outclass, this causes one of causes of fluidity insecurity and exhibition period namely. " a personage that approachs Jin Cheng group is analysed to the reporter.
Economic observation signs up for newest know, bureau of Zhejiang card inspect expresses when replying to investor on April 2, right already the action that Jin Cheng endowment provides fund of illegal illicit collect to supervise administrative law laws and regulations is carried out lawfully superintend, supervise and urge for many times diligence of the other side is responsible fulfil administrative person obligation, make practical risk deal with plan.
Buy mark " be mortgaged " mystery
The problem that Jin Cheng group is oppugned by investor is the unidentified flow direction of collect capital not only, still include to buy mark " be mortgaged " . The triplet document that net of Chinese judge copy clerk published March this year, debunk among them secret.
This is the name wins 3 firmly for Jin Cheng - buy fund of investment illicit collect (next weighing " Jin Cheng 3 fund " ) , namely project of Hangzhou antique city. This fund is established on Feburary 10, 2017, asset of 10 thousand fir manages Hangzhou limited company (next weighing " Hangzhou company of 10 thousand fir " ) manage a person for fund, group of 185 million yuan of Jin Cheng of formal invest in with creditor's rights and equity controls collect fund share company Hangzhou watchs Yue Shi course of study to invest limited company (next weighing " company of view high mountain " ) , use investment fund at buying Hangzhou antique town by company of view high mountain limited company the equity of 100% and suffer give place to 14 date, 16 Hangzhou reach Hui Xinglu of the city zone on Hangzhou city on antique city land 21 the business shop property right of three-layer, ground. Fund of investment of this illicit collect already put on record to conduction fund of fund trade association formalities.
Hangzhou Mr Zhang subscribe Jin Cheng 3 fund 3 million yuan, next year of the bid on contract book changes investment target outstanding achievement for 8.6% . Mr Zhang says frankly, at that time when subscribe, the salesperson makes clear clearly have capital fund of fund ground floor. But discovery of after the event, the capital of fund collect is with creditor's rights the form lends view Yue Gong department only, is not to take fund portion to buy property of project of Hangzhou antique city directly. In the meantime, after company of view high mountain takes this money to buy property, did not give Jin Cheng 3 fund pledge of asset of project of Hangzhou antique city.
Show according to content of juridical copy clerk, on July 16, 2018, wei Jie and group of west lake house property, sincere connect company and two natural person Pan Mou, Sun Mou (the following a general designation " accuser " ) sign 5 fund portion to make over an agreement, the Jin Cheng of the hold in accuser hand portion of fund of collect of the illicit below group division makes over Wei Jie, total value is total 100.3 million yuan. And company of view high mountain offers guaranty to assure for afore-mentioned creditor's rights. Be worth what carry is, this mortgage department is offerred for Wei Jie individual liabilities assure. After accuser and issue of pledge of generation of company of view high mountain, the rights and interests of 3 fund investor damages vest in Jin Cheng badly by, fund cannot cash.
Mr Zhang expresses: "Had turned round to view discovery, jin Cheng group undertakes cutting apart in the contract, current condition is creditor's rights it is creditor's rights, asset is asset. So Wei Jie can go to guaranty Hangzhou with the name of individual asset antique city project. So Wei Jie can go to guaranty Hangzhou with the name of individual asset antique city project..
The reporter rules from triplet writ discovers, pan Mou, Sun Mou is the investor of below Jin Cheng banner many fund, they ever were bought " collect of illicit of Jin Cheng Jin Ao invests fund 1 " , " Jin Cheng 4 fund " , " city of Jin Cheng Changzhou spends fund of development illicit collect 7 " differ portion. And the time that Wei Jie and accuser sign fund portion to make over was last year July, lay foundation in division of Jin Cheng group just about during bedding face accumulates exceed the time limit.
Juridical copy clerk justs to be made public, jin Cheng 3 fund investor thinks, "What fund investment forms the capital fund of company of view high mountain, in equity all impawn gives fund, fall to the circumstance of loan of fund a huge sum, jin Cheng group abuses his to accuse a partner status, antique city house property guaranty gives tripartite, solid collude with for ill will, harm interest of the 3rd person. Harm interest of the 3rd person..
Current, the many praedial guaranty that first instance of this issue desk adjudicates to the result is to watch Yue Gong to manage assistance accuser handles project of Hangzhou antique city register formalities. And the manner of Jin Cheng group is, person of project fund management has entrusted a lawyer to mention a series of relevant lawsuit, strive for through legal measure wrong to what exist in the project guaranty undertakes corrective.
Recombine suspicion in one's mind
Concern Jin Cheng group to recombine a problem to will be paid close attention to from last year November all the time by investor. The data that investor provides shows, heart into industrial control a limited company (next weighing " heart into industrial accuse " ) group of as new as Hangzhou Jin Cheng town held cooperative agreement autograph to arrange a ceremony on January 17, 2019, wei Jie of president of Jin Cheng group is attended and sign.
Did not appear on the cooperative curtain of the spot " recombine " model of written characters, investor expresses: "This collaboration is Jin Cheng actually the respect is in what be on the lookout says to introduce center look forward to all the time recombine, just recombining main body is not Jin Cheng group, the new town of subsidiary Jin Cheng of PPP project is in charge of below the banner however. The new town of subsidiary Jin Cheng of PPP project is in charge of below the banner however..
Legal representative of Jin Cheng new town is Wei Jie, make public data presentation, up to by last year, accumulative total of company PPP project wins the bid amount is 30.7 billion yuan.
Of coincidence is, the reporter releases in small letter of government of Jin Cheng bloc " investor delegate communicates meeting memoir " on discovery, wei Jie of president of Jin Cheng group states to investor its had been signed January publicly recombine an agreement, "The purpose that I recombine lets others become large stockholder namely, vigor of the coruscate in should making the credence of state-owned company and large company and capital new introduce Jin Cheng capital fund, is not backwater or it is base price sale. is not backwater or it is base price sale..
In the meantime, the investor that offers a reporter from Wang Hao group in light of check scheme, vice-president of Jin Cheng fortune holds Jiang Xueqi of Jin Guancheng's president concurrently to also be in group in express, recombine formal agreement to had been signed January this year, the company already began the work of materiality after 2019, but the process may be gianter, won't have new information every week.
The heart that with Jin Cheng the group signs cooperative agreement is become industrial accuse held water 2014, register capital 100 million yuan, be subordinate to belongs to commercial site to build development center (career legal person is solely invested enterprise) . Data of the treasure that start a letter shows, around move heart into industrial accuse capital stock body to share 24 oneself risk, 4 equity freeze information, aggregate freeze amount 80 million yuan. And in December 2018 the portion is labelled break his promise to be carried out person, by adjudication reachs its penalty due to breach of contract 6.96 million yuan to applicant pay off.
Commercial site construction develops central official net to show, this center was on October 11, 1993 the institution of nation of department bureau class that establishs via approval of office of committee of central orgnaization organizing, be subordinate to belongs to the State Council state-owned asset controls administrative committee. Via not complete count, up to in November 2017, the platform below division of commercial site department cast 16 nets to borrow run a company with fortune, share 4 to explode thunder platform, 10 existence violate the platform of compasses problem.
In recombine square aptitude to what introduce " impeach " while, investor generated more question, the debt that is aimed at group of the Jin Cheng after recombining is to be brought into entirely, be still come off or to come off partly?
The investor that the reporter offers from Wang Hao group check scheme sees, jiang Xueqi expresses to investor is not debt bring into or come off, recombine be talent and resource, credence, debt past is how, today still is how.
The side is shown in recombining message, jin Cheng group shows to the reporter, recombine to already entered a key to fulfil level at present, inconvenience of of short duration discloses recombine specific details.
Jin Cheng group claims to undertaking recombining on one hand, on the other hand requirement investor signs exhibition period agreement, many investor worry about exhibition period to consultation damages his rights and interests and reject to sign.
Wang Hao tells a reporter him scruple: "It is with item of Changzhou gold platform exemple, integral project is overall and devoted 1.1 billion, according to rock-bottom agreement appreciation 63% (rise 62.84% ) , although total amount of reckoning in every item is in 1.8 billion yuan or so, we collect of investor of this fund collectivity 3.1 billion yuan, still not as good as collect capital, how does this breach fill? How does this breach fill??
The newest data that small letter of government of Jin Cheng bloc discloses shows, dimensions of total assets of group of the Jin Cheng after classics audit twenty billion two hundred and seventy-six million yuan, indebted ten billion three hundred and eight million yuan, net assets total 9.899 billion yuan, asset is indebted lead 50.84% .
To running asset way next, although respect of Jin Cheng group emphasizes striving for repeatedly before this,restore partial liquidity, advance a project to come to counter-purchase or need a sale, but look in investor those who do not have materiality recombine progress, all plans are like a castle in the air, those who use up is the patience of investor and rights and interests only. Economy observes the newspaper will pay close attention to the progress of this one incident continuously.
(demand of the person that should interview, wang Hao is alias)
