On the evening of July 8, Wang Jingbo, founder and chairman of the board of directors of Noah Wealth, issued an internal letter saying that the current Chengxing-related funds did have risks. As a manager, Goffer took the fastest action to effectively safeguard the interests of investors as soon as it found out the risk factors.
Noah Wealth said that after discovering the risk factors of the project, it immediately launched an in-depth survey of other products in its lifetime, and no similar problems have been found so far (as of the first quarter of 2019, the total amount of Goffer Management Fund was 171.1 billion, with more than 800 products in total). Noah Wealth will actively cooperate with the police investigation and make every effort to promote the resolution of the incident.
In March 2017, Huishan Dairy Industry fell into a debt storm of 10 billion yuan. Goffer, a wholly owned subsidiary of Noah Wealth, has a debt of 546 million yuan involving Huishan Dairy. Since then, Goffer Asset Management Limited has applied to the court for an injunction to freeze the assets of Yang Kai, his wife and Hampshire Asset Limited, the actual controllers of Huishan Dairy and Huishan Group, in Hong Kong, in order to assist Goffer Asset Management Limited in legal proceedings against them in Shanghai. But court documents show that Noah Wealths application for freezing Huishan Dairys Hong Kong assets has been rejected.
Less than three months after being exposed to the Huishan Dairy Bond Cash Crisis, Noahs private equity fund with a fortune of 3 billion yuan fell into a happy situation.
On July 5, 2017, Noah Wealth issued a statement saying that the Goffer Chuangshi Xingen M&A Fund, which is owned by Goffer, can be divided into three types: inferior, intermediate and priority limited partners, in which Goffer Chuangshi Xingen Fund invests in the fund as its priority limited partner. Le Video Networks, Le Video Holdings and Jia Yueting have joint and several guarantee liability to the priority investors of the fund to supplement their principal and earnings. At the same time, in order to further ensure the security of the fund assets, the fund manager has been asked to suspend new investment and promote the quickening of withdrawal of projects already invested by the fund. According to the announcement issued by Lexus in August 2016, Noah Wealths Wuhu Goofy Asset Management Co., Ltd. has subscribed to a priority of 2.3 billion yuan. According to the 2016 annual report of Le Video Network, the debt has reached nearly 2.75 billion yuan.
Noah Wealth, a dairy company that has stepped on Leihui Mountain, has been exposed to deliberately vilify rights-defending customers
According to the International Finance Daily, in March 2017, Huishan Dairy Industry fell into a debt storm of 10 billion yuan. Goofy Asset Management Co., Ltd., a wholly-owned subsidiary of Noah Holdings Limited (hereinafter referred to as Noah Wealth), involved in the debt crisis of Huishan Dairy Industry. There were two products, one of which was Goofy Chuangshis best investment. Foundation and Goffer Foundation Optimum II Investment Fund.
Han Qingguo is the authorized agent of the institutional investors of Goffer Creation Optimum No. 1 Investment Fund (Huishan Dairy Project). According to Han Qingguo, his company, a food industry limited company in Suzhou, has invested 10 million yuan, and the agreed annual rate of return is about 7.2%.
According to the civil judgment issued by the Second Intermediate Peoples Court of Shanghai, the total creditors rights related to Huishan Dairy Industry amounted to 547.9 million yuan. Goffer Assets has applied to the court for an injunction to freeze the assets of Huishan Dairy and Yang Kai, his wife and Champh Artvest Limited in Hong Kong in order to assist Goffer Assets in legal proceedings in Shanghai. However, court documents showed that the application of Goffer Assets to freeze Huishan Dairys Hong Kong assets had been rejected, and the court did not grant a non-trial injunction against the company.
Noah Wealth stepped on the thunder in Huishan Dairy Industry caused dissatisfaction among investors. Some investors found that Noah Wealth violated the rules when selecting investment targets. Therefore, relevant investors defended their rights and demanded that Noah Wealth repay investment funds and returns.
Han Qingguo told reporters that he found that Noah Wealth had violated the rules when investing in Huishan Dairy Project. He complained to Jiangsu Supervisory Bureau of China Securities Regulatory Commission (hereinafter referred to as Jiangsu Securities Regulatory Bureau) in July and August 2017 and January 2018 respectively.
Subsequently, on July 31, 2018, Jiangsu Securities Regulatory Bureau issued a warning letter to Goffer Asset Management Co., Ltd. that it failed to fulfill its obligations of good faith and prudence and diligence in two funds based on Huishan dairy products.
On November 23, 2018, the 2018 Noah Wealth Diamond Annual Conference was held in Lijiang. At the meeting, Wang Jingbo said that clean-up participants are the guarantee of long-term healthy development. When talking about responsibility and independent thinking are the most basic abilities that investors need, the PPT matching pictures displayed synchronously on the large screen are the on-site photos of investorsrights protection activities that have not been processed technically.
Photographs show that many investors have clear facial contours. After confirmation by Han Qingguo, one of the investors involved in the photo is the authorized client of institutional investors of Huishan Project, and the rest are individual investors of Huishan Project.
In this regard, Han Qingguo said that there is no such fact, which is fabricated.
Li Hulin, deputy president of Jiangsu Provincial Association of Grass-roots Legal Service Workers, who acted as an agent in the honour infringement case of Han Qingguo, told reporters that Noah Wealth-related personages had made the portrait of Han Qingguo public at the meeting, pointed out that they charged investors five-tenths of ten thousand fees for safeguarding rights, and hinted that Han Qingguo was a cheater, which on the one hand infringed on Han Qinggu The right to portrait; on the other hand, it is suspected of defamation and infringes on the reputation of Han Qingguo.
Li Hulin said that, in fact, Han Qingguo did not collect five-tenths of the investors rights protection fee. On December 6, 2018, Han Qingguo reported the case to the public security organs and made relevant statements.
According to relevant legal documents provided by Han Qingguo to reporters, he went to Taixing Peoples Court on November 29, 2018 to bring Wang Jingbo, Shanghai Noah Investment Management Co., Ltd. and Shanghai Noah Financial Services Co., Ltd. to court for disputes over reputation rights. Han Qingguo demanded a decree, and the three defendants apologized to the plaintiff, clarified the facts, compensated the plaintiff for the corresponding losses and assumed the costs of the lawsuit.
The subpoena of Taixing Peoples Court shows that the above cases will be heard on December 25, 2018. We will apply for live broadcasting online. Noah Wealth has not responded to my personal demands so far. Han Qingguo said.
Li Hulin introduced that Han Qingguo initiated civil litigation in Taixing Court and criminal private prosecution in Pudong New District Court of Shanghai. Considering Noah Wealths infringement of reputation during Lijiang Meeting, it was the place where the infringement occurred, and Han Qingguo reported the case to Lijiang Public Security Bureau. At present, the case of Han Qingguos right of reputation is a civil and criminal case.
Zeng stepped on Leile TV Network, involving nearly 3 billion creditors
According to First Financial Report, a statement by Noah Wealth showed that it was very hurt by the crisis. On the afternoon of July 5, 2017, Noah Wealth issued a statement explaining the investment situation of Goffer Chuangshi Xingen M&A Fund under Goffer Asset Management.
According to the statement, Shenzhen Lexingen Merger and Acquisition Fund is a joint equity fund established by Xingen Asset and Lexingen Streaming Media (wholly-owned subsidiary of listed companies). The fund is divided into three types: inferior, inferior, intermediate and priority limited partners. Among them, Geoffrey Chuangshi Xingen Fund invests in the fund as its priority limited partner. u3002 The fund is a multi-project portfolio investment fund. The Shenzhen Municipal Government guided the fund to invest 600 million yuan as the intermediate limited partner of the fund, and Le Video Streaming Media (the wholly-owned subsidiary of listed companies) to invest 1 billion yuan as the inferior limited partner. At the same time, Le Video Network (listed companies), Le Video Holdings and Jia Yueting invested 1 billion yuan in the fund. Priority investors are liable for joint and several guarantees to supplement principal and income.
The statement said that the fund has a total period of five years (the first three years of which are investment periods). Currently, the projects invested in the fund are not happy to see the projects in the system, and the fund has not yet completed all the investments.
The statement pointed out that in view of the current situation, in order to further ensure the safety of the fund assets, the fund manager has been asked to suspend new investment and promote the quickening of withdrawal of projects already invested by the fund.
Goffer Assets was established in 2010, which is the asset management platform of Noah Wealth Group, as well as an important development platform for Noah Group to transform and control assets. Its business scope covers private equity investment, real estate fund investment, open market investment, institutional channel business, family wealth and discretionary entrustment business and other diversified areas. Goffers assets management scale is over 100 billion, and its income has become the main profit source of Noahs wealth.
According to the announcement in August 2016, Noah Fortunes Wuhu Goffel Asset Management Co., Ltd. has subscribed to a priority of 2.3 billion yuan, Shenzhen Guiding Fund Investment Co., Ltd. has subscribed to a total of 600 million yuan of sub-shares, and its wholly-owned subsidiary, Le Video Streaming Media, has subscribed to a total of 1 billion yuan of inferior sub-shares.
According to the annual report released by Le Video in April 2017, the debt has reached nearly 2.75 billion yuan.
3.4 billion Thunderbolt Chengxing International
Noah Wealth said in a late-night announcement that the company manages the Generation Core Enterprise Series Private Equity Fund, which mainly provides supply chain financing to third parties associated with Chengxing, with a total amount of about 3.4 billion yuan. Recently, Chengxings actual controllers were detained by public security organs for suspected financial fraud. As the fund manager, the company has taken various legal measures, and earnestly fulfilled the duties of the manager, and fully guaranteed the legitimate rights and interests of the fund investors according to law.
As the relevant parties involved in financial fraud are still in the criminal investigation process, our company expects to be unable to distribute the funds at the expiration of the investment period of the Genesis Core Enterprise Series Private Equity Fund, so the expiration date of the investment period of the fund shares is postponed according to the agreement of the fund contract. Our company will safeguard the legitimate rights and interests of fund share holders according to law. Noah Wealth Express.
In another note on the pledge of shares of Chengxing International Holdings Limited, Noah Wealth said that the Pledgee of this pledge is Shanghai Goffel Asset Management Co., Ltd., representing the Genesis Core Enterprise Series Private Equity Fund and Noah (Shanghai) Financing Rental Limited Company, and the pledgee is the holding stock of Chengxing International Holdings Limited Company. East China Base Group Limited.
The above-mentioned actions are not the transfer of shares but the pledge of shares. We have noticed that the misrepresentation of the pledgees identity of the relevant subject in our company by some third-party stock information software as the shareholders identity is not in accordance with the facts and has no legal basis. Noahs wealth tells us.
As for the follow-up of the incident, Noah Fortune responded that the company found some risk factors during the life of the fund products and started verification and negotiation with the relevant parties at the first time. The company has set up a special emergency and disposal team to take necessary measures. The disposal work completed includes, but is not limited to, increasing credit enhancement measures for fund products; issuing reminder letters to relevant parties for fulfilling repayment obligations; reconciling with relevant parties and conducting asset sorting; adopting legal measures for relevant parties in accordance with law; and having already taken legal measures to supervisors. Guan reports. Due to the complexity of the situation, it takes time and space to clarify the problem. The company will actively support the public security organs and spare no effort to protect the interests of investors.
At the same time, Noah Wealth also declared: No pool of funds, no deadline mismatch, all its products are managed by third-party qualified financial institutions, assets and corresponding funds are managed in accordance with fund contracts, maintain independent operation, risk will not be transmitted to other products; after discovering the risk factors of the project, I They immediately launched an in-depth survey of other products during their lifetime, and so far no similar problems have been found.
Source: Responsible Editor of China Economic Network: Ren Hui_NBJ9607