Thus, a strange closed-loop supply chain financing came into being. A 3C product trader familiar with Chengxing Holdings operation insider pointed out to the 21st century economic report reporter. Through the high-selling and low-buying (self-selling and self-buying) of its affiliated institutions, Chengxing Holdings retrieves 3C products and recycles them. It can do millions of 3C products with millions of dollars worth to tens of millions of trade volumes, thus fabricate about tens of millions of accounts receivable and arbitrage huge supply chain financing funds.
He said frankly that in this supply chain financial chain, Chengxing Holdings must be losing money. Therefore, Luo Jing, the real controller of Chengxing Holdings, has always hoped that by acquiring the controlling right of listed companies and injecting related trade and financial assets into listed companies, the stock price will be raised and the return of capital market will be abundant, so as to fill the growing business loss hole. However, it was unexpected that the stock market downturn in previous years led to a small increase in the share prices of the three listed companies it purchased, which not only failed Luo Jings abacus, but also led to a growing loss in the financing chain of Chengxing Holdings Supply Chain, forcing her to desperately manufacture fake invoices and continue to seek supply chain financing borrow new to repay old, but the fake invoices were unexpectedly rejected. The discovery and reporting of Noah Wealth uncovered the inside story of Chengxing Holdingssuspected supply chain financial fraud.
In the meantime, some large enterprises found that Chengxing Holdings used affiliated companies to sell and buy (sell high and buy low) to obtain receivables vouchers invoices and trade contracts, fearing the risks, and quickly cut off all trade transactions with Chengxing Holdings. The 3C product trader told reporters. However, Chengxing Holdings still takes advantage of many loopholes of financial institutions in the supply chain financial wind control process, and successfully extracts billions of funds from Noah Wealth, Yunnan Trust, Hunan Finance Securities and other institutions.
The 21st Century Economic Reporter exclusively learns that Noah Wealth has decided to suspend the single non-standard consolidated product business, such as supply chain finance, from July, after suffering the thunderstorm of Chengxing Holdings.
High Selling and Low Buying Circular Bill Brushing
If Chengxing Holdings fails, Luo Jing may become a genius in the field of supply chain finance. The above 3C product traders who are familiar with Chengxing Holdings operation insider confess.
As a result, a win-win situation has emerged, e-commerce platform can not only get the corresponding income through Chengxing Holdingshigh-selling and low-buying bill-swiping mode (after deducting the corresponding sales return point, the e-commerce platform can still get a good price differential income), but also expand its own sales; while Chengxing Holdings can through the bill-swiping mode. These operations, in turn, take these 3C products in hand, continue to circulate the operation of expanding their trade volume, and creating more receivables contract vouchers, to obtain a larger amount of supply chain financing from financial institutions.
Assuming that 3C products with a value of 1 million yuan can create 5 million trade volume and receivable voucher invoices through five cycles, and then apply to financial institutions for supply chain financing to obtain about 4 million yuan (the actual fund-raising may be 7-8% of the receivable amount), equal to 1 million yuan goods to create 4 million yuan fund-raising. He pointed out.
He disclosed that this is also one of the reasons why Noah Wealth found the phenomenon of one name, two people in the relevant accounts receivable payers during the period of product life business verification.
Not all enterprises are deceived by Chengxing Holdings. The source said. In 2017, Chengxing Holdings Co., Ltd. was involved in an accident. When a large enterprise that had trade with Chengxing Holdings received a telephone call from a bank, it heard that Chengxing Holdings intends to use trade current account to finance loans. So it investigated all the trade businesses related to Chengxing Holdings and found that upstream sellers and downstream buyers of related trade undertook them. The affiliated companies of Xing Holdings are concerned about Chengxing Holdingsself-selling, self-buying and manufacturing accounts receivable and trade contracts, which quickly interrupt all trade transactions with Chengxing Holdings.
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Source: Responsible Editor of Economic Report in the 21st Century: Ren Hui_NBJ9607