Ping An Trust responds to the rights protection incident!

Source: Brokerage China

Since April 9, Ping An Trust's customer rights protection incident has been swiped, and Ping An Trust issued a statement this morning.

In response to the announcement of the extension of Ping An Trust's Funing No. 615 trust plan, Ping An Trust said that it apologized for the trouble caused to customers. At present, Ping An Trust adheres to the principle of maximizing the interests of investors, earnestly fulfills its fiduciary management responsibilities, and is actively promoting the disposal of the project by continuously following up the development and sales of the target project and the return of funds, filing a lawsuit against the repurchase obligor Zhengrong Fang, and promoting the transfer and withdrawal of the target equity held by the trust plan. At the same time, Ping An Trust emphasized that the company's overall performance is stable and the operating conditions are good.

According to the Securities Times and Brokerage China reporters, Ping An Trust Funing No. 615 Accumulative Capital Trust Plan was recently announced to be extended. The trust plan was established on September 29, 2021, raising 772 million yuan to invest 70% of the equity of Xiamen Ronglu Real Estate Co., Ltd. in the form of equity, thereby indirectly investing in the "Zhenhuafu" project under the name of Xiamen Lianzhengyue Investment Co., Ltd.

The duration of the above-mentioned trust plan is 30 months, and March 29, 2024 is the maturity date agreed in the trust contract. Up to now, the scale of the surviving trust is 772 million yuan.

Affected by the real estate downturn, the speed of decentralization of the target project is slow. The total sales area (excluding parking spaces) of the "Zhenhua Mansion" project is 100,505.60 square meters, including 98,546.95 square meters of residential buildings, 1,029 planned residential units, 33 commercial units, and 1,029 parking spaces. As of the announcement date, Zhenhuafu has sold a total of 218 sets and received sales of 523 million yuan, with a removal rate of about 21%.

Ping An Trust told relevant investors that due to the real estate downturn, the thunderstorm of the project development company Zhenro Real Estate, and the need for sales funds to enter the supervision account, as of the date of the announcement, the trust plan has not yet been cashed back, and the trust plan has been postponed to the date of full sale of the trust property or the date when the surviving beneficiaries expect the trust benefits to be fully distributed (whichever comes first).

Ping An Trust was established on April 9, 1996, with a 99.88% stake in Ping An Group, and its registered capital has increased to RMB 13 billion.

In 2022, Ping An Trust achieved revenue of 3.085 billion yuan and net profit of 1.592 billion yuan. By the end of 2022, the total assets under management of Ping An Trust reached 552 billion yuan, an increase of 90.7 billion yuan year-on-year, with a growth rate of 19.66%. The business scale of family trusts, insurance trusts, and securities investment trusts increased by nearly 200 billion yuan. The unaudited financial data shows that the net profit of Ping An Trust in 2023 will be around 2 billion yuan.

Editor-in-charge: Wan Jianyi

Proofreading: Peng Qihua

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