Suddenly "run away"! 5 billion well-known private equity thunder, the financial circle fryer!

Jiang Dongwen of the investor network

2024-05-14 09:22Posted in Beijing Science and Technology Creators

Just! The SFC, it's a shot!

The well-known private equity Ruifengda suddenly exploded, and the China Securities Regulatory Commission quickly investigated, but unfortunately its Shanghai office was empty, and it was difficult to redeem!

It is said that the actual controller has lost contact.

As soon as the news came out, it instantly exploded the financial circle!

After all, it has only been half a year since the FOF private placement China Soft New Power explosion incident.

The Ruifengda "runaway" incident is very likely to trigger a crisis of confidence in the market in private equity products again.

In fact, before this "runaway", this private equity firm had already exposed the "fox tail" of unreasonable, extremely non-compliant and even involved in illegal crimes.

Before the crisis was exposed, the shareholders of private equity institutions had quietly changed...... Private equity funds that provide back-up guarantees are ultimately unable to pay.

Behind the 795% return, there is a "pig killing plate" that has long been laid out.

Don't be misled by the "pie" of high-net-worth private equity funds, you fancy the high rate of return of "guaranteed principal and guaranteed returns", but others have already been eyeing your principal!

Coveting temporary profits, it is inevitable that the principal and interest will not exist in the end.

01

Another well-known private equity explosion "ran away"? The office was empty, the public security was handling the case at the scene, and some people had not redeemed tens of millions of yuan!

Recently, a rumor of "Ruifengda assets running away" has gone viral in the asset management circle, according to relevant information, "the redemption funds have not arrived in the account for a month", which has attracted market attention.

According to the brokerage China, the full name of the private placement involved is Zhejiang Ruifengda Asset Management Co., Ltd. (hereinafter referred to as "Ruifengda"), and the private placement product is currently unable to be redeemed, the company's actual controller has lost contact, and some investors have reported the case.

It is worth mentioning that the Economic Investigation Detachment of the Shanghai Pudong Branch has seized the office of Ruifengda Assets.

According to the news on the website of the China Securities Regulatory Commission on the 11th, Ruifengda Company was suspected of a number of violations of laws and regulations, and the Securities Regulatory Commission decided to investigate it.

According to the notice, at present, the China Securities Regulatory Commission has notified the public security organs and others to strengthen coordination and cooperation. Next, the China Securities Regulatory Commission will promote risk disposal and effectively protect the legitimate rights and interests of investors.

Ruifengda, which has a management scale of 5 billion, was suddenly rumored to have run away, which shocked the investment circle again.

You know, Ruifengda is a formal record of private equity, and the customer's money is also hosted in a third party, when everyone thought that there was no need to worry about the security of funds, the money was "transferred"!

It is understood that some investors have subscribed for millions or tens of millions of yuan of fund products, but they are currently unable to redeem them.

What's more, "there are still 33 million yuan that cannot be redeemed in Ruifengda, and only 5 million yuan of the redemption application in March has finally arrived." ”

To be honest, investors can't be blamed for being careless, it can only be said that Ruifengda's methods are more clever, at least in terms of yield performance, which is very tempting.

Third-party private placement data shows that the net value of Ruifengda's products is very beautiful, with almost no drawdown, and the annualized rate of return basically starts at 20%. One of its products has a return of 795.43%, and the annualized return is as high as 191.25%.

According to private equity sources familiar with the matter, "the boss of Ruifengda took 500 million funds to make an inferior, 20 million starting investment, 1:4 priority inferior, 8% capital protection, and Ruifengda's commission was 4 points, which is higher than P2P." ”

There are many fund managers in the company's promotional materials, but none of them have been seen. The company's product income is more than 20% annualized with no drawdown.

Could it be that this is another story of "you want his interest, and he wants your principal"?

02

According to public information, Ruifengda was established on October 20, 2016 and registered with the Asset Management Association of China (AMAC) in May 17, with a registered capital of 30 million yuan and a paid-in capital of 7.5 million yuan. In terms of investor subscription, Qiu Wenlong, the actual controller of the company, holds 80% of the shares, and Liu Licheng, the company's legal representative and general manager, holds 20% of the shares.

According to the official website, Ruifengda Ruifengda Assets has a total of 70 private equity fund products, with a management scale of 2 billion to 5 billion yuan, and its business types are private securities investment funds and private securities investment FOF funds.

In Ruifengda's external promotional materials, the company claims that its products mainly involve stock long strategies, portfolio investment strategies, quantitative/neutral/derivatives strategies, etc. At the same time, the number of fund managers in the company reached 12.

According to the data of the private placement network, many of Ruifengda's products have performed well, with a cumulative income of 87.04% and an annualized income of 10.11% since its establishment. One of its products, Ruifengda Shirui No. 1, has a cumulative income of 795.43% and an annualized rate of return of 191.25% since its establishment two years ago, so Ruifengda's products are sought after by some investors.

Why did a medium-sized private equity "Ruifengda" that looks glamorous suddenly "run away"?

In fact, before this "thunderstorm", Ruifengda had already shown the "fox tail" of unreasonable, extremely non-compliant and even involved in illegal crimes.

First of all, the company is registered and the office is not in the same jurisdiction.

Secondly, the hidden misdeeds of Ruifengda's senior management team in their careers are even more shocking.

The three senior executives of Ruifengda, including Liu Licheng, the company's legal representative, general manager and executive director, Xie Xuefei, deputy general manager, and Chen Qingji, the person in charge of compliance and risk control, all have bad records.

The most important thing is that the company's investment ability can be called "all-round", but many of the investor inquiry account opening rates of the company's private equity products are shown as 0.00%.

In addition, Ruifengda Assets also has private equity funds that have exceeded the maturity date for 3 months and have not submitted liquidation applications.

In short, behind Ruifengda's "running away", there are many doubts, and I hope that the supervision will be investigated as soon as possible and investors will be fair.

03

A very important question is, how exactly is the money swept away?

Different from other private equity "thunder" incidents in recent years, one of the major concerns of the Ruifengda incident is its use of the NEEQ market, which is suspected to be a high-level takeover in the NEEQ market.

According to interface news, Ruifengda may use funds to "take over" the new third board stocks with very poor liquidity to transfer funds; It is also not excluded that through its main FOF business, the money will be invested in other funds, and the funds will be reversed against each other, and the custody of the next layer of funds invested in is not clear.

The market speculated that Ruifengda first used its own multiple accounts to buy a number of new three board companies, because the liquidity of the new three board companies is very poor, so only a small amount of funds can be "sitting" to manipulate the stock price, to achieve dozens of times higher.

Immediately afterwards, Ruifengda issued products to raise funds, and the investors' money was taken over these new third board stocks at a high level, which was similar to knocking on the form. In this way, the investor's money in the escrow account goes into the trader's pocket, and the transfer of funds is completed in a seemingly compliant manner.

Finally, the relevant private equity products hold these inflated prices and completely illiquid NEEQ stocks, even if investors redeem the private products, if the shares cannot be realized, the redemption crisis will naturally appear.

According to the 2023 annual report, Ruifengda Assets' products appear in the list of the top ten circulating shareholders of 6 NEEQ stocks, including Wei Fu Ji, Hejia Tianjian, Haotian Energy Storage, Youlian Shengye, Nongjiang Technology and Bangkele, that is, a large number of these stocks will be bought in the second half of 2023.

Wind data shows that Hejia Tianjian soared by 1435% in July last year alone, Weifu Ji increased by 15462% from June 30 to September 28 last year, Youlian Shengye increased by 1223% from June 30 to September 28 last year, Haotian Energy Storage also rose by 78% from June 30 to November 30 last year, and Agrocarpus Technology increased by 48914% from August 31 to December 29 last year.

At a time when the stock price has risen sharply, the top 10 circulating shareholders of these stocks as a whole have shown a situation of "multiple natural person shareholders withdrawing, and private equity funds buying a large number of new shareholders".

04

At the end of the day, the high net worth of some products of Ruifengda is only rich on paper, and it is easy to buy and sell at the basic layer of the new third board, and it is difficult to realize it at a high level, not to mention that the fundamentals of the listed company are really lackluster, which may be the main reason why Ruifengda's products are highly profitable on the surface, but it is difficult to pay in fact.

As for whether there are hidden rat traps and benefit transfer behind the operation of these products, it is still unknown.

However, there are huge risks hidden in the "gray hijab" of Ruifengda assets and "guaranteed principal and returns", and investors must not be misled by the "pie" of high net worth private equity funds.

In January 2022, Qiu Wenlong and Liu Licheng have withdrawn, and the shareholding ratios at the time of withdrawal were 80% and 20% respectively. In January 2022, Li Tao held shares for the first time, but the shareholding ratio was not announced.

In September of the same year, the person in charge of Ruifengda was officially changed from Liu Licheng to Li Tao, and Li Tao withdrew from the capital contribution on the same day. Up to now, the controlling shareholder of Ruifengda is Hainan Smart City Holding Group Co., Ltd., with a shareholding ratio of 51%, and Shanghai Qingcheng Culture Club Co., Ltd. has increased its shareholding by 49% since September 2022.

What surprised the market even more was that "Ruifengda was still raising funds last week".

Marx once said that if there is a 10% profit, it must be guaranteed to be used everywhere; With a 20% profit, it becomes active; With a 50% profit, it takes risks; For the sake of 100% profit, it dares to trample on all human laws; With a 300% profit, it dares to commit any crime.

Selling dog meat on the head of a sheep, multi-layer nesting, and receiving ...... There are a lot of routines for private equity to harvest investors, and for financial products that you don't understand, it's best not to touch them, just watch the excitement!

Remember, don't be greedy, you must know that every gift from God is marked with a price code in advance!

Resources:

"Just now! SFC, do it! China Fund News

How did Ruifengda "transfer" the money? Interface News

"Financial Circle Fryer! Well-known private equity thunder, the product has been unable to redeem", Brokerage China

"Lifting the "Gray Hijab" of Ruifengda Assets, "Guaranteed Principal and Guaranteed Returns" Hidden Huge Risks", China Securities Journal

"The Securities Regulatory Commission filed a case, and the investigation was closed! Why did the glamorous 5 billion private placement Ruifengda suddenly "run away"", The Paper

View original image 96K

• 

• 

• 

• 

• 

• 

• 

• 

• 

•