Source of this article: Times Finance Author: Chen Zexuan
[Editor's note: When we talk about "good consumption", what are we talking about? The significance of the existence of the annual 315 International Consumer Rights Day is to strive to restore the original appearance of "good consumption". This March, Time Media Group's Consumer Report, Time Weekly, Times Finance, and New Weekly jointly launched the "HAO Consumption" feature to focus on your consumer life.
"Since February 9, there have been people who have not received money one after another", Cai Ming is a former employee of a Fujian real estate company, after the explosion of the wealth management products he purchased, he has been in contact with his colleagues and other investors, although he is very dissatisfied with the original payment plan, but the news he has heard recently made him more panicked.
Cai Ming's purchase of wealth management products, different from offline for the people, this is an online financial management platform set up for employees, "in 2017, when the company just launched financial products, I bought it, the first investment was not much, and later although I left, I also continued to add to millions, and have been placed in it to do rolling investment."
"The annualization is about 8-10%, the income is good and can be paid on schedule, out of trust, the more you buy," Cai Ming told Times Finance, until the moment before the thunder, the salesman was still promoting wealth management products, and he was still very reassured about the former owner, "Last October, I heard that China Merchants Bank wanted to take out loans, and I knew that the former company was financially tight, and then there was a problem with the financial payment in November. ”
Image source: Visual China
In the past few years, the market is still in an upward cycle, housing enterprises are keen to quickly expand the scale through leverage, through wealth management products to raise funds is one of their common ways, therefore, many housing enterprises have launched their own financial platform, many investors are housing enterprises their own employees, employees relatives and friends and owners.
Times Finance learned from different investors that the annualized yield of the wealth management products they subscribe to is generally between 8-12%, while the annualized income of conventional wealth management products on the market is less than 5%, coupled with the stable expectations of housing enterprises, the funds invested in financial products are less than 100,000 or more than millions, and individual housing enterprises have set up amount indicators internally, in order to complete the performance, some employees have to pull on relatives and friends, and even borrow money to manage their finances.
In order to obtain more funds and cover up liabilities, some housing enterprises use wealth management products to invest the funds obtained in real estate projects in the form of clear shares and real debts or joint venture off-balance sheet liabilities, which are high risks but hidden. When the market is good, through this kind of tightrope management, investors can especially get considerable returns, but in the second half of 2021, some housing companies have fallen into a liquidity crisis, and internal financial management has also exploded.
"I couldn't believe it until the day of the thunderstorm"
"At the beginning, I did not plan to buy, but then the leader came to me, saying that he recently had a 400,000 financial payment, I see that the interest rate is very good, more than 11%, but also want to solve the task for the department to buy", Li Wei, who bought a TOP10 housing enterprise wealth wealth management product, told Times Finance that the company will vigorously promote financial products at each node, and give the leaders of various departments to reach the indicator, "If the department subscribes to zero in the month, the leader does not have the salary of the month."
After analyzing the entire process of purchasing wealth management products, Li Wei believes that he inherently trusts the company too much, "which is also caused by long-term brainwashing." He said the most common phrase heard in the company is "the company has 140,000 employees, so many suppliers and owners, how can it be said that it is down?" ”
It is worth mentioning that September 2021 is the month when the company's wealth redemption crisis intensified, and on the 8th of The financial products purchased by some investors went to the company's location to defend their rights when they were due, and then the crisis expanded rapidly, and the company's offices in many cities were blocked by investors. Although in the months before that, Li Wei had occasionally heard about suppliers' debt collection and owners' rights protection, but because he believed that the company's operation was stable and that the wealth management products were promised to be rigidly paid, he always felt that the wealth management products he purchased could not have problems, "I remember the salesman said that the word 'capital protection' could not be reflected in the financial contract, which was too naïve at that time."
The contract provided by Li Wei shows that the wealth management product he purchased was a directional financing plan issued by a company registered in Qingdao, although from the perspective of equity, this is a small and micro enterprise in construction engineering that has no connection with its company, but another company with 100% shareholding in the company provides an irrevocable joint and several liability guarantee guarantee for the principal and income of the fixed financing plan.
"Until the day of the thunderstorm, I couldn't believe it was true," Li Wei received an emergency notice late one night in September 2021, "there are activist groups ready to storm the company and ask us to work from home the next day."
After the redemption crisis, Li Wei was glad that he did not invest too much money under the persuasion of his family, "originally prepared 1 million in hand, fortunately not all invested in it, but there are many colleagues who have bought a huge amount of financial management with full wealth, some people have bought one or two million, 4 million have also heard of it, and now they dare not leave, with a salary of 3033 yuan per month, in a very collapsed situation, afraid of taking this money it is more difficult to come back, staying in the company can also find leaders and leaders."
According to the redemption plan announced by the real estate enterprise wealth management company on December 31, 2021, it will redeem the principal amount of 0.8 million yuan per investor per month in December 2021 and January and February 2022 respectively, that is, a total of 24,000 yuan, and the remaining principal of less than 24,000 yuan will be redeemed with the remaining principal until the remaining principal is paid, and the redemption plan in March 2022 and beyond will be announced in late March.
"24,000 yuan has been paid and received, but the next payment plan has not yet shown any expression", Li Wei has now completely lost confidence in the company, does not care whether the plan has "bargaining power", only hopes to recover his principal in the shortest possible time.
"The most feared payment plan is only to delay time"
Compared with Li Wei, Cai Ming, who holds millions of wealth management products, has recently fallen into a more anxious state.
According to the redemption plan provided by Cai Ming, the parent company of the housing enterprise provided investors with an extension plan and physical asset redemption, of which, for investment projects due on December 1, 2021 (inclusive), the principal redemption plan is to repay 10% in the month of maturity, and then repay 15% per month in the 7th to 12th months, and settle the principal in the 12th month; the interest is also apportioned in 7-12 months; and the physical assets provided by the physical asset redemption plan include residences, apartments, office buildings, shops and parking spaces. The redemption amount can be used to offset the full or partial balance of the physical asset.
"Because my amount is relatively large, I have thought about exchanging it into fixed assets, but the location of the products given is very poor, and a friend chose to arrive at the house, because the amount of redemption is not enough to put in a down payment, and finally the house network can not sign, I think the risk is too big", Cai Ming said that after the redemption crisis appeared, customer service called him three times, "but the sincerity is not enough, the extension plan has no asset guarantee, so I did not choose both programs, and then was forced to default the extension plan, and indeed paid 10% of the principal to me."
Although he was very dissatisfied with the compulsory payment plan, Cai Ming had some comfort at the moment when he saw part of the principal returned to his pocket, but due to the overall financial tension of the former boss, the one-year payment period was full of uncertainty, he still felt unsteady, and soon after getting 10% of the principal, the most frightening thing happened to him.
In the process of communicating with his colleagues and other investors, Cai Ming learned that "since February 9, there have been people who have not received money one after another", and he began to worry that the liquidity of his predecessor was further tightened, which would make the remaining investment amount unable to be paid in cash. Recent rumors from current employees about future redemption plans have deepened his anxiety.
Through exchanges with different investors, Times Finance has learned that when facing the redemption plan, the general concern of investors is that the longer the redemption cycle, the higher the uncertainty of cash recovery, and because many investors cannot directly communicate with housing enterprises and related financial platforms or express their demands, it has pushed up their expectations of risk.
Huang Jiatao, an investor who purchased a wealth management product of a real estate enterprise in Shenzhen, told Times Finance that the relevant payment work is currently being carried out in accordance with the plan announced on November 22, 2021, but this is a "unilateral plan of the company", which is inconsistent with the management's commitment to "pay off the arrears and interest within one year" in the early communication process, which he and other investors cannot accept, "and after the plan is announced, it will no longer pay attention to the demands of our investors."
"I'm afraid that what I get is a plan to delay time, and in the end I will lose everything," said another investor who purchased the above-mentioned Fujian real estate enterprise wealth management products.