Hengchang scale issued about 20 billion private offerings: underlying assets are Hengyi Loan claims, and the borrowing interest rate exceeds 36%

Produced ｜ WEMONEY Research Room

Text ｜ Lin Xiaolin

As a former offline wealth management giant, Hengchang Wealth and Fortune and Fortune, Shanlin Finance, Yingu Fortune were listed as offline wealth management companies. With the end of the P2P industry, the other three in the dilemma of mines or redemptions are still operating.

Hengchang is still under low -key offline wealth management business. Not only that, Hengchang also has a cash loan business. According to the user, its loan interest rate exceeds 36%, and the high service fee and disguised "cutting" is charged.

On the one hand, it is offline financial management, and on the other hand, it is a high -interest loan business. In fact, Hengchang's business has been questioned. The regulatory authorities have also punished it due to Hengyi Loan's violations. convergence.

8%of the pseudo -delivery product, borrow multiple companies to send products

Recently, the WEMONEY Research Office discovered that Hengchang Wealth salesperson recommends Hengchang's offline wealth management products on the platforms such as Zhihu. You know that users want to know whether Hengchang's wealth management product "12%of the year's income" is reliable, and the business of this business. In Zhihu, the product said that the product is a solid -income product, which is twice as much as the bank's financial management. The risk control is also good, which is stable.

The product in this salesman is an offline wealth management product issued by Hengchang Wealth. The Wemony Research Office obtained a contact information of a financial consultant from Hengchang's official customer service hotline. The wealth management consultant introduced that Hengchang's current products are mainly from the wealth management products of the Gold Exchange.

The financial consultant provides a income statement show that the 10W investment is more than -1000W, which is divided into six files, with a yield of 4.5%-11.6%, with 3, 6, 12, 18, 24, 36. The new user was invested at least 6 months, with a yield of 6%-10.6%.

In the mouth of wealth management consultants, such products are safe products. According to them, such products can be regarded as "guarantee and insurance."

In fact, the product issued by the Golden Exchange is a "targeted financing plan" product, also called private equity bonds. Hengchang's underlying assets of this product are the credit packets of the borrower. Hengchang packed the borrower's claims to a company to issue wealth management products on the company listed on this company.

Financial consultants show a past product book. The product is issued by Chengzhou Lianying (Liaoning Province) Investment Management Co., Ltd. (referred to as: Chengzhou Lianying). : Shanxi Zhongcai) filing, the filing guarantor: Shandong Dingotuoxin Investment Management Co., Ltd. (referred to as: Dingtai, Shandong), raised funds for 30 million, not more than 12 months.

After the WEMONEY Research Office purchases a product as a new user, you need to register in Zhongrun Duo APP. After a series of operations such as the real -name authentication and binding bank card, Zhongrun Duo shows several wealth management products that are currently issued, of which More than a dozen projects in the L series are still under raising. Most of the projects displayed by the L series are debt transfer plans, and about 20 billion yuan of funds raised. Chengzhou Yuzheng's income right transfer plan, Xin and Langbang's income transfer plan, the raising scale is 60 million, the number of raised persons is 200, and the interest rate of 6.5%is 6.5%. Among them, Chengzhou Yuzhang's issuer is Chengzhou Lianying, Xinhe Libang's income transfer plan is Wuhan Xinhe Jiashi Investment Management Co., Ltd. (referred to as Wuhan Xinhe), Wuhan Xin was established in November 2021 and Shandong Ding, Shandong Ding, Shandong Ding. Tai is the same actual controller. The project starts in May. Within six months of raising time, the Chengzhou Lianying project has now raised 59.85 million yuan in nearly two.

From the project list, Wuhan Xinhe and Chengzhou Lianying is a fixed issuer and frequently raised funds.

The financial consultant repeatedly stated that although the issuer is different companies, the underlying assets are real Hengchang borrowers. From each project, you can view the borrower of the underlying assets.

Tianyancha shows that Chengzhou Lianying was established in September 2021, with a registered capital of 50 million, which belongs to the business service industry. Shandong Dingtai was established in December 2019 with a registered capital of 50 million. These companies have been established in the past few years when the P2P online loan industry has been ebb. At the same time, these companies have almost no other industrial and commercial information and no patented information. The business scope is consistent. There are reason to suspect that these suspected empty shell companies are the purpose of Hengchang's filing of the exchange.

On the surface, both companies have no equity relationship with Hengtian Wealth. Financial consultants said that this is for the filing of compliance. Although it is issued by other companies, it is still Hengchang's wealth management products. Not only is it listed in Shanxi Zhongcai, but also issued similar products on multiple exchanges

However, an industry insider revealed that the claims of this desensitization are not necessarily true. According to the contract, the underlying claims have already transferred several companies, and the shareholders behind them may come from the industry and other industries. Its annualized income has reached 8%, and general debt financing will not have such high interest.

Where does Hengchang come from the courage, at the stage of interest rates, the issuance of high -profile wealth management products?

Gold loan products are charged high guarantee fees, and the annualized interest rate exceeds 36%

Mr. Sun in Shandong applied for a loan of 19,900 yuan at Hengyi Loan (now known as Pu Ronghua) under Hengchang Company on April 21, 2022, and then issued 19,900 yuan on April 25th. Mr. Sun recalled that the first two issues of the loan needed two high equity service fees. The first and second phases were 3751 yuan and 3852 yuan each period, and the monthly repayment of 1,896 yuan per month was paid in the next ten months. Mr. Sun only repaid 7,603 yuan in the first two issues, and also had 38%of the capital. The service fee of the two issues was 4134.26, accounting for 20%of the principal. The borrowing interest rate of IRR was 60%, far exceeding the previous statutory red line 36%. Mr. Sun believes that the actual service fee is bent in disguise. The cutting interest refers to usury loan or underground money house. When lending the loan, the borrowers deduct a part of the money from the principal. This part of the money is called "cutting". In 2019, the "315" was exposed, and the high "cutting" and "overdue costs" became the "culprit" to bear huge debt in the future. In fact, Hengyi Loan actually sorted this "cutting interest" into interest, and was charged in the form of a service fee in the first two issues. As a result, the actual borrowing amount of the user is occupied.

In Mr. Sun's borrowing contract, there is no borrowing contract. There is only one rate confirmation book. The funds are Hunan Haohuitong Internet Micro Loan Co., Ltd. Gold Information Technology Co., Ltd. (referred to as: Junhang Weijin) charged the corresponding service fee. Haohan Huitong Loan, Junhang Weijin and Hengchang Wealth are related companies. Mr. Sun repeatedly asked Hengchang for a loan contract, and Hengchang has not given a complete loan contract so far.

There are not a few situations like Mr. Sun. Black cat complaints have reached 20,000 complaints on Hengchang. The borrower said that before the Hengyi Loan borrowing of Hengchang, the existence of the contract amount was not in line with the actual account amount, that is, The actual amount received by the borrower is deducted in advance for service fees and bare fees. Nowadays, Hengchang just shares the pre -deducted service fee into the repayment plan, and "soup does not change the medicine" to collect disguise "cutting".

According to Mr. Sun, Hengchang also involved violent collection, and he said that the end of the payment received a call from Hengchang in just ten days. Some users said that Hengchang will be accepted violently in the way Hengchang will conduct telephone bombardment and address book. The severe collection team was also proven by the above financial consultants. He said that Hengchang had a very good collection team, and the bad debt rate during the epidemic was less than 1.5%, and it was even lower than the bank's bad debt rate.

Financial consultants revealed that the bad debt rate is to allow users to buy products more assured or real data? It cannot be proved, but does Hengchang ensure that investors' interests are reliable through violence?

Another financial industry employee revealed that Hengchang does not necessarily cover the income of investors through the high interest of the borrower. In fact, this is a game of drumming flowers. The next investor is likely to take over the last one. The greater the bigger, the offline P2P. And from the perspective of the contract, it is reasonable and legal.

In 2020, a regulatory announcement of Shandong issued an announcement that Beijing Hengchang Litong Investment Management Co., Ltd. (Hengchang Fortune) was suspected of illegally absorbing public deposits, and the provincial comprehensive big data platform preliminarily judged that the company had major illegal fund -raising risks.

Guo Shuqing, chairman of the China Banking Regulatory Commission, previously said: "If the yield is more than 6%, the question is required. More than 8%is very dangerous.

Although Hengchang's funding game, although the product contract agreed with 8%of the yield, it is not a guarantee of income. There is no thunder, but there is always a sword on top of the head. As an old company, Hengchang should be responsible for investors and borrowers.

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