More than 20 billion explosions, financial management you have to be careful!
On January 30, Cedar Holdings issued a letter of apology telling investors (Figure 2) that the payment could not be completed. According to the previous plan, 10% of the principal amount of the product due before August 2021 should be redeemed at the end of the month. The total amount involved is about 20 billion. About 8,000 investors are involved.
According to the official website, Cedar currently has five major industries, namely Commodity Industry Group, Commodity Supply Chain Group, Chemical Industry Group, Industrial Investment Group, and Cedar International Trust.
Cedar Holdings was once the most powerful private enterprise in Guangzhou. But once such an enterprise gets rid of formal business monitoring, sooner or later there will be problems, such a wealth management product, do you dare to want it?
