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Hongling Venture Capital still has 5 billion non-performing asset investors who say that it will fail to pass the filing
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Hongling Venture Capital: Disposed of more than 5 billion non-performing assets, and personnel involved in the transfer of interests were dismissed from criminal detention
Internet Finance Jinziqi
On March 25, Zhou Shiping, Chairman of Hongling Venture Capital, published the article "Self revolution of Hongling Venture Capital in 2018" on the official website community, in which he mentioned that in the past two years, Hongling Venture Capital found that there were some company executives who had profit conveying behaviors during the disposal of a number of non-performing assets, replaced the president and vice presidents, and fired more general managers and employees of the branch companies, At the same time, it was reported to Shenzhen Economic Investigation Department to investigate and deal with many cases, and more than 20 internal and external criminal suspects were detained.
Hongling Venture Capital has more than 2.57 million registered users and more than 450000 effective investment users in actual investment, with a total transaction amount of 345.4 billion yuan and investors' income of more than 7.6 billion yuan. As of March 24, 2018, the total transaction amount of Hongling Venture Capital was about 345.493 billion yuan, the amount to be repaid was nearly 16.867 billion yuan, and the amount of debt transfer exceeded 4.348 billion yuan.
The article points out that since the entry of the bank's senior management team, a large number of large amount debt objects, mainly real estate, have been issued, and the transaction amount has risen significantly. Some borrowing enterprises have been overdue after borrowing. Hongling Venture Capital has been affected by adverse debt events. The issue of large target 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 assessment of Shenzhen Guoce Assets Appraisal Co., Ltd. on 60 projects in the preservation stage, it is estimated that the disposal is feasible within three years.
On October 28, 2017, Shennan Shares Officially signed a contract with Shenzhou Agricultural Services to develop financial services for rural land circulation. The target amount of this business is less than 200000 yuan, the borrowing cost does not exceed 12% of the annual rate, and the initial cooperation scale will reach 80 billion yuan. In addition, through the repurchase of minority shareholders' shares by major shareholders and related parties, the total number of shares held by major shareholders and related parties has exceeded 60%.
Original text of "Self revolution of Hongling Venture Capital in 2018":
In 2018, Hongling Venture Capital's self revolution
On the ninth anniversary of Hongling Venture Capital, the 50 year old Zhou is no longer capricious. Hongling Venture Capital's self revolution is not the release of grief, but the expectation of getting rid of all inherent stubborn diseases and gaining new life. After full preparation, the countdown has started. The opportunity of online loan filing is a rare opportunity for Hongling Venture Capital.
Hongling Venture Capital has more than 2.57 million registered users and more than 450000 effective investment users in actual investment, with a total transaction amount of 345.4 billion yuan and investors' income of more than 7.6 billion yuan, which has maintained stable operation in general. Since the entry of the bank's senior management team, a large number of large amount debt objects, mainly real estate, have been issued, and the transaction amount has risen significantly. Some borrowing enterprises are overdue after borrowing. Hongling Venture Capital has been affected by adverse debt events. After summary and reflection, the board of directors of the company found that large amount subject business is not a strong point of Hongling Venture Capital, In addition, during the disposal of a number of non-performing assets, it was found that senior executives of the company had the behavior of conveying interests, and sought ill gotten gains at the expense of the company's interests. In the past two years, Hongling Venture Capital has replaced more than its president and vice presidents, dismissed more than its branch general managers and employees, reported to the Shenzhen Economic Investigation Department for investigation and treatment of many cases, and detained more than 20 internal and external criminal suspects. After the rectification, the company's management team led by President Xiang Xu actively disposed of non-performing assets and developed new products such as housing loans under the premise of ceasing to issue major targets, which achieved certain results and won valuable time for the company's transformation.
Through comprehensive evaluation of mutual fund's rectification situation and the current situation of Hongling Venture Capital, the burden of historical problems is 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. Recently, we have focused on the following work:
1、 Bank fund deposit
Hongling Venture Capital focused on docking Ping An Bank 、 Industrial and Commercial Bank of China 、 CITIC Bank Xiamen International Bank Bank of Shanghai We have officially signed the contract with Xiamen International Bank, and the technical interface has been basically completed. At present, we are waiting for the Internet Finance Association to release the test white list to coordinate the online time of the depository.
2、 Disposal of non-performing assets
Although the issuance of large amount targets was stopped in March this year, the problem of insufficient assets in stock is serious. Through cooperative development, litigation auction and other means, nearly 2 billion yuan of cash was recovered last year, and more than 5 billion yuan of non-performing assets are still in the process of disposal; At the end of February this year, Shenzhen Guoce Assets Appraisal Co., Ltd. was engaged to evaluate 60 projects of our company in the preservation stage: 40 projects with principal mortgage rate below 70%, accounting for 66.67%; There are 10 projects with a principal mortgage ratio of 70% to 100%, accounting for 16.67%; There are 10 projects with a principal mortgage rate of more than 100%, accounting for 16.67%; Through comprehensive assessment of the current overall asset status of Hongling Venture Capital, the risk is controllable, and the goal of disposing all assets within three years is feasible with the support of the resources of the holding company in the future.
3、 Reduction of leverage of net worth standard
After repeated risk publicity and education on the platform, investors are generally rational at present. The number of people with more than five times of high leverage has been significantly reduced, and more than five times of leverage will be the focus of reducing leverage in the first half of this year; According to the company's internal assessment, the overall risk of the net worth standard is controllable. With the recovery of non-performing assets, the overall scale of the net worth standard will also be significantly reduced; In addition, we will try to transfer the asset package in the near future, so that customers with sufficient liquidity can undertake assets, solve the liquidity problems of highly leveraged users, reduce the overall leverage ratio of net worth targets, and meet regulatory requirements to the maximum extent.
4、 Major shareholders increased their holdings in Hongling Venture Capital
In order to maintain a stable transition of Hongling Venture Capital, major shareholders and related parties have been repurchasing the shares of small shareholders. At present, the total number of shares held by major shareholders and related parties has exceeded 60% (details for future reference);
5、 Intensify efforts to investigate and deal with corruption of senior executives
This is a work that is often difficult to understand. According to the clues found in the process of non-performing assets collection, we will investigate and deal seriously with the behaviors of the company's internal executives who take advantage of their positions to obtain improper benefits, and report to the investigation department for handling and reporting to the industry blacklist for major losses to the company;
6、 Actively develop compliance business and seize the opportunity of filing
On October 28 last year, Shennan Shares officially signed a contract with Shenzhou Agricultural Services to develop financial services for rural land circulation by means of financial technology. The amount of the business object is less than 200000, and the borrowing cost is not more than 12% of the annual rate. With the guarantee of land ownership confirmation technology, the risks are relatively controllable, and the initial cooperation scale will reach 80 billion yuan. Wang Yang, Vice Premier of the State Council, has paid close attention to the project and personally asked about its progress. The leaders of the Science and Technology Department of the Central Bank of China discussed the feasibility of using financial technology in the project with the technical team, and hired Dr. Zhang Ping, former vice president of Tencent Tencent Tenpay, to lead the operation of the project. At present, the project has been piloted in Jilin, Hebei and Jiangsu provinces, Vice Governor Yang of Jiangsu Province personally promoted the pilot project in Jiangsu Province. According to the current deployment of the company, make full use of Hongling Holdings resources, the United Nations state-owned holding company and cooperative listed companies, divest the original non-performing assets of Hongling Venture Capital, develop compliance business, go online as soon as possible, meet the regulatory compliance filing conditions, and achieve multi win through the capital market merger. Shennan Shares' acquisition of Yiqian Loan Platform is only a small step, and there will be more actions to meet the requirements of compliance filing in the future. Please pay attention to the official announcement of the listed company, and welcome you to give more reasonable suggestions to jointly create a better tomorrow for Hongling Venture Capital!
Hongling Laozhou in Shenzhen
March 25, 2018
Editor in charge: Xie Haiping
