Hongling Venture Capital disposed of more than 5 billion in non-performing assets, and those involved in the interests were dismissed and detained

On March 25, Zhou Shiping, chairman of Hongling Venture Capital, published an article "2018, Hongling Venture Capital's Self-Revolution" on the official website community. The article mentioned that Hongling Venture Capital has made a number of achievements in the past two years. During the disposal of non-performing assets, it was discovered that some company executives were engaged in profit transfer. Several presidents and vice presidents were replaced, and several branch general managers and employees were fired. At the same time, multiple cases were reported to the Shenzhen Economic Investigation Department for investigation and prosecution, and internal and external criminal suspects were detained. There are more than twenty people.

Hongling Venture Capital has more than 2.57 million registered users, more than 450,000 actual active investment users, a total cumulative transaction amount of 345.4 billion yuan, and investors have gained more than 7.6 billion in income. As of March 24, 2018, the total transaction amount of Hongling Venture Capital was approximately 345.493 billion yuan, the amount to be repaid was nearly 16.867 billion yuan, and the debt transfer amount exceeded 4.348 billion yuan.

The article pointed out that since the entry of the bank’s senior management team, a large number of large-denomination debt targets, mainly real estate, have been issued, and the transaction amount has increased significantly. Some borrowing companies have overdue loans and have defaulted on their loans. Hongling Venture Capital has been plagued by bad debts. Impact of debt events. The issuance of large-volume bids has been suspended in March this year, and there are still more than 5 billion yuan of non-performing assets in the process of disposal. According to the evaluation of 60 projects in the preservation stage by Shenzhen National Policy Asset Appraisal Co., Ltd., it is estimated that 60 projects will be disposed of within three years. feasibility.

On October 28, 2017, Shennan Co., Ltd. officially signed a contract with China Agricultural Services to develop rural land transfer financial services. The subject amount of this business is less than 200,000, and the borrowing cost does not exceed the annualized rate of 12. The initial cooperation scale will reach 80 billion. In addition, through the way of major shareholders and related parties repurchasing the shares of small shareholders, the total number of shares held by major shareholders and related parties currently exceeds 60%.

"In 2018, Hongling Venture Capital's Self-Revolution" Original text:

In 2018, Hongling Venture Capital's Self-Revolution

Hongling Venture Capital Nine anniversary, the 50th-year-old Zhou is no longer willful. The self-revolution of Hongling Venture Capital is not the catharsis of sadness, but the expectation of getting rid of all the inherent stubborn diseases and gaining a new life. After full preparation, the countdown has begun, and the opportunity for online loan registration has begun. This is a rare period of opportunity for Hongling Venture Capital.

Hongling Venture Capital has more than 2.57 million registered users, more than 450,000 actual effective investment users, a total cumulative transaction amount of 345.4 billion yuan, and investors have gained more than 7.6 billion yuan in income, and the overall operation has been stable. Since the entry of the bank's senior management team, a large number of large-denomination debt targets, mainly real estate, have been issued, and the transaction amount has increased significantly. Some borrowing companies have overdue debts after borrowing money. Hongling Venture Capital has been affected by bad creditor's rights incidents. After summary and reflection, the company's board of directors said, Large-ticket business is not Hongling Venture Capital’s strong suit, and during the disposal of multiple non-performing assets, it was discovered that some company executives engaged in interest-conveying behavior, sacrificing the company’s interests to seek ill-gotten gains. In the past two years, Hongling Venture Capital has replaced several presidents and vice presidents, fired several branch general managers and employees, and reported many cases to the Shenzhen Municipal Economic Investigation Department for investigation and criminal detention of more than 20 internal and external criminal suspects. After rectification, the company's management team, led by President Xiang Xu, actively disposed of non-performing assets and developed new products such as Fangyidai on the premise of suspending the issuance of large tenders, and achieved certain results, winning valuable time for the company's transformation.

Comprehensive assessment of the mutual fund rectification situation and the current status of Hongling Venture Capital. The burden of historical issues is relatively large, which has restricted the short-term compliance process of Hongling Venture Capital, especially the disposal of non-performing assets and the progress of bank custody. etc. We have recently focused on the following work:

1. Bank fund depository issues

Hongling Venture Capital has focused on docking with Ping An Bank, Industrial and Commercial Bank of China, China CITIC Bank, Xiamen International Bank, Shanghai Bank, etc., and has officially signed a contract with Xiamen International Bank. The technical interface has been basically completed and is currently waiting The Internet Finance Association announced the test whitelist coordination depository launch time.

2. The issue of disposal of non-performing assets

Although the issuance of large-value bids has been suspended in March this year, the problem of existing assets is serious. Through cooperative development with cooperative institutions, litigation and auctions, nearly 2 billion yuan in cash has been recovered last year , there are still more than 5 billion yuan of non-performing assets in the process of disposal; at the end of February this year, Shenzhen National Policy Asset Appraisal Co., Ltd. was hired to evaluate 60 projects of our company in the preservation stage: projects with principal mortgage ratios below 70 There are 40 projects in total, accounting for 66.67; There are 10 projects with principal mortgage ratios of 70 to 100, accounting for 16.67; There are 10 projects with principal mortgage rates of more than 100, accounting for 16.67; After a comprehensive assessment of the current overall asset status of Hongling Venture Capital, the risks are controllable. In the future, with the resource support of the holding company, the goal of disposing of all assets within three years is feasible.

3. The problem of reducing leverage in net worth targets

After repeated risk publicity and education on the platform, investors are generally more rational at present. The number of people with high leverage of more than 5 times has been significantly reduced. Leverage of more than 5 times will be the first half of this year to reduce leverage. Key points: The company’s internal assessment shows that the overall risk of the net worth bid is currently controllable. With the recovery of non-performing assets, the overall scale of the net worth bid will be significantly reduced. In addition, asset package transfer will be trialled in the near future to allow customers with sufficient liquidity to take over assets and resolve high risks. To solve the liquidity problem of leveraged users, reduce the overall leverage ratio of net worth assets and meet regulatory requirements to the maximum extent.

4. Major shareholders increase their holdings of Hongling Venture Capital

In order to maintain the stable transition of Hongling Venture Capital, major shareholders and related parties have been repurchasing the shares of small shareholders. Currently, the total number of shares held by major shareholders and related parties has exceeded 60 ( Detailed information is available for future reference);

5. Increase efforts to investigate and deal with executive corruption

This is a task that is often difficult to understand. Investigations are conducted based on clues discovered during the collection of non-performing assets, and internal executives of the company take advantage of their positions to obtain improper Acts of interest will be seriously investigated and punished, and any serious losses caused to the company will be reported to the economic investigation department and submitted to the industry blacklist;

6. Actively develop compliance business and seize the opportunity of filing

On October 28 last year, Shennan Co., Ltd. formally signed a contract with China Agricultural Services to use financial technology to develop rural land transfer financial services. The subject amount of this business is 20 Below 10,000 yuan, the borrowing cost will not exceed 12 per annum. Because it is guaranteed by land rights confirmation technology, the risks are relatively controllable. The initial cooperation scale will reach 80 billion. The project has attracted the attention of Vice Premier Wang Yang of the State Council and personally inquired about the progress. The leaders of the central bank’s Science and Technology Department discussed the feasibility of using financial technology methods with the technical team and hired Dr. Zhang Ping, the former vice president of Tencent Tenpay, to lead the operation of the project. Currently, It has been piloted in Jilin, Hebei and Jiangsu provinces, and Vice Governor Yang of Jiangsu Province personally promoted the implementation of the pilot in Jiangsu Province. According to the company's current deployment, it will make full use of the resources of Hongling Holdings, cooperate with state-owned holding companies and cooperative listed companies, divest the non-performing assets of the original Hongling Ventures, and at the same time develop compliance business, go online for bank depository as soon as possible, and meet regulatory compliance filing conditions. Capital market mergers and acquisitions achieve a win-win situation for all parties. Shennan Shares’ acquisition of the Yiqiandai platform is just a small step. More actions will be taken to meet the compliance filing requirements. Please pay attention to the official announcement of the listed company. You are also welcome to give more rational suggestions and create a bright future together. Ling Venture Capital has a better tomorrow!

Hongling Lao Zhou in Shenzhen

March 25, 2018