Every time a reporter visits Ding Yifeng in the redemption crisis: there are products that have not paid dividends for several months, and are still selling products with an annualized interest rate of more than 80%.
Reporter: Zhao Jingzhi, Feng Dianjun, Song Qinzhang Editor: Liao Dan
Ding Yifeng, who was on the cusp of the storm, held an online morning meeting normally on the morning of the 17th.
"Chapter 33, those who know others are wise, and those who know themselves are clear. At the morning meeting, a female voice led a group of people to recite the Tao Te Ching in the morning, and then carried out news broadcasting. Subsequently, a male host appeared at the meeting and said that Ding Yifeng "only succeeds, not fails", and many people applauded enthusiastically.
As some investors broke the news that the products issued by Ding Yifeng have not paid dividends for several months, the reporter of "Daily Economic News" came to Ding Yifeng's office in Shenzhen Kingkey Riverside Times, which is also the "three departments" in the mouth of investors.
At the scene, contrary to the orderly and responsive online morning meeting, the door of the "three departments" office was crowded with investors who bought Ding Yifeng's wealth management products, questioning the security guards and receptionists here about dividends, digital options and other matters, but the reporter never saw the appearance of the leaders of the "three departments" of Ding Yifeng.
The "three departments" in the mouth of investors, the name of the company such as "Huayin Group" is hung on the wall of its office Photo by reporter Zhao Jingzhi
There are no normal dividends for wealth management products
Recently, a number of investors broke the news that Ding Yifeng's wealth management products did not pay normal dividends, and the principal was not paid after maturity. "Starting in May 2023, the dividends will not be on time, and some will not be there in October. Mr. Wang, an investor, said.
At the door of an office of Ding Yifeng in Shenzhen Kingkey Binhe Times, the reporter of "Daily Economic News" noticed that the words "Huayin Group", "Huayin International Holdings Co., Ltd." and "Huayin International Holdings (Shenzhen) Co., Ltd." were hung on the wall of the office hall. The reporter communicated with investors and found that the company was called "three" by investors, and in addition to "three", there are also "two" and "five".
It is reported that Ding Yifeng's related entities, including "Yuanfeng", "Yuanhui", "Yuanheng", "Wanding", "Tianding", "Jiading", "Huayin" and other branches, promote industrial concepts such as "peptides" and "light wave magnetoelectric therapy" through online and offline activities such as tea parties, evening parties, reading clubs, and listing conferences, and attract investors to subscribe for the "original equity" or "options" of "Ding Yifeng" related entities with "Zen investment method".
Huayin International Holdings Group here is a listed company on the Hong Kong Stock Exchange. According to the company's 2022/23 annual report, Cui Xintong and Sui Guangyi are the co-chairmen of the company's board of directors.
At the door of the "Third Department" office, the reporter found that it was crowded with investors in Ding Yifeng's wealth management products with contracts, and they were generally older.
Mr. Wang said that in October 2023, the dividends of the wealth management products sold by Ding Yifeng were deferred, and the dividends in November and December have not yet arrived.
When asked why Ding Yifeng did not pay, another older investor pointed out to reporters, "It seems that we don't understand what digital currency is called, but I think that no matter what kind of currency it is, (the contract stipulates) should be given." ”
"The problem is that there is no clear statement, if you don't pay dividends a year ago, many people (money) are loans, you have to have a statement, and then we don't understand what kind of digital options are engaged in this, so we have to come and ask clearly. At the scene, another investor kept his hands on his chest and questioned the security guard at the entrance of Ding Yifeng.
"We've been giving, but we've been giving. A staff member of Ding Yifeng said that he also bought Ding Yifeng products, and all his net worth was invested in Ding Yifeng, "As investors, we are also working under pressure." But whenever money comes in, the company's finances will be sent according to it, and the money will come in and the finances will be sent out, what can we do. We are now waiting for the chairman (Sui Guangyi) and the company's senior management to give us some detailed rules to solve these problems. ”
The employee said that he still believes in Ding Yifeng and believes in the master (Sui Guangyi). "On the one hand, we completely trust the master. On the other hand, because we are on the front line, we know what the people in the company are working on. ”
However, the reporter noticed that almost all the investors and security guards, receptionists and others on the scene that day, plus the ordinary employees who bought Ding Yifeng products, the company's leaders did not appear, and when asked about the whereabouts of the person in charge, the staff said that "they were blocked by investors".
When the reporter arrived at the office area at 3:30 p.m. on weekdays, he found that there were very few people here. But an employee told reporters that there were a lot of people, but they hadn't come to work yet. Mr. Wang told reporters that when he came here a year, there were a lot of staff here, and it was a prosperous scene.
The reporter participated in Ding Yifeng's Yuanhui morning meeting as an investor, and found that the host elaborated on the recent Ding Yifeng incident.
"Pay attention to our words and deeds, do not mislead people's children, but walk in the way. Regarding what happened recently, the host said, "Many people are panicking, but listen to my advice, when your heart is in turmoil, don't make random decisions, and make your heart calm first." ”
The annualized rate of return of some products exceeds 80%
Because of the claim to have created the "Zen and I-Ching Investment Method", Ding Yifeng has always been questioned on the Internet about "Ponzi schemes" and "illegal fundraising".
"You can buy Ding Yifeng products through me, and you can also come to me if you have any questions. A person who claimed to be an investor and entrepreneur of Ding Yifeng told reporters who were investors that the company's products are divided into long-term and short-term, and there are currently three products.
According to the person, the first product has a stable cash flow, such as an investment of 100,000 yuan, there will be a cash flow (return) of 3,000 yuan per month, and the contract time is one and a half years. "During the one-and-a-half-year contract period, you can get 54,000 yuan of cash flow and 100,000 yuan of principal, that is, you can get 154,000 yuan when it expires. ”
According to the income, it can be calculated that the yield of this product can reach an annualized rate of 36%.
The second product has a higher rate of return, with an annualized rate of return of more than 80%. "The closed period is one and a half years, sign a contract of 100,000 yuan, but you only need to pay 82,000 yuan, and you will be given 182,000 yuan after expiration, which is fixed, but your principal cannot be moved during the contract period. ”
In addition, the person pointed out that there are also "1 + 3 + 6" products, if the minimum investment is 100,000 yuan, 3,000 yuan of cash flow will be given every quarter, and there will be 12,000 yuan of cash flow in four quarters, and the dividend ratio of the product is 88%, that is, 200,000 yuan can be received after the expiration of one year. "In the tenth year, it's 1.1 million yuan. ”
The person said that at present, there is no official link to buy Ding Yifeng products, and he needs to help connect with the purchase before signing the contract separately and clicking on it, which can be operated through video or other means.
When the reporter asked for an interview with the company, the person said that the company's recent new policy has not yet landed, and he needs to visit the headquarters later.
It can also be seen from a contract obtained by the reporter that some investors subscribed to a so-called option contract at a price of 9 yuan per share, which corresponds to 222,222 shares with a term of 18 months and a monthly dividend of 0.09 yuan per share, that is, a monthly dividend of 20,000 yuan. After 18 months, it was repurchased at 16.38 yuan per share. Judging from the contract, the contract should pay 2 million yuan, because investors can enjoy the "priority dividend", that is, a one-time dividend of 360,000 yuan in the next year and a half, so only need to pay 1.64 million yuan of principal, and there will be 3.64 million yuan after expiration. If the principal amount of 1.64 million yuan is calculated, the yield of one and a half years can reach 122%, and the corresponding annualized interest rate can reach more than 80%.
According to the official website of Ding Yifeng, the company currently has three major industrial sectors: Changbai Mountain cultural tourism industry, health care industry, and innovative magnetic energy industry.
Ding Yifeng's office area is taken by reporter Zhao Jingzhi
The salesperson is still promoting the product
The reporter learned from the interview that at present, Ding Yifeng has "preferential" measures to attract people. Mr. Wang pointed out to reporters that at present, if the salesman pulls the newcomer into the investment, he will generally give at least 5 points of commission, for example, the newcomer will invest 700,000 yuan, and the manager will get 35,000 yuan.
"Now as long as you bring people in, the rewards are very high, (Ding Yifeng) is getting crazier and crazier now. For example, if I want to withdraw 500,000 yuan now, then I have to pull a 500,000 yuan in, or more than 500,000 yuan to come in, and if I don't pull it, I won't give me money. Mr. Wang told reporters.
The reporter's investigation found that the group's salesmen usually use the acquaintances around them to find target investment groups, such as colleagues, relatives, friends, etc., and then increase trust through cultural preaching, and gradually develop them into customers or salesmen.
Mr. Wang told reporters that he was introduced by his colleagues, and they started investing in 2016. Mr. Wang said that he invested his first money in July 2020, totaling 676,000 yuan, and invested three times the product in three years.
Mr. Wang said that after the product expired, that is, in July 2023, "I should have given me more than 2 million yuan, but in the end I was only given a fraction of 460,000 yuan, and he has been negotiating to persuade me to renew the 2 million yuan, and promised to double it in a year and a half." ”
However, due to the normal dividends at the beginning of the investment, Mr. Wang trusted Ding Yifeng very much, and in the past three years, Mr. Wang introduced his family and relatives to Ding Yifeng, and reinvested some of the expired products, and finally the total contract amount of his family reached more than 8 million yuan.
"After the contract expired, he didn't give you money, so he asked you to transfer a contract with a larger amount, and then said that he would give you dividends, and in the end the dividends were gone, anyway, he kept drawing cakes. ”
In the end, the investment did not return to the capital, Mr. Wang said that he has lost a lot of money at present, since the problem of Ding Yifeng in early 2023, Mr. Wang has been speaking out, don't let people buy products, "But many people still think that I made money, in fact, I invested a total of more than 6 million, counting the expiration of the renewal contract, the contract amount is more than 8 million, only two or three million have been returned, and the others have not come back." ”
It is worth noting that at the critical moment of suspending payment, on January 10, a "major positive notice for all investors" issued by Ding Yifeng International Asset Management Group spread among the investor group, saying that the group officially applied for listing on the international digital asset exchange and anchored with Ding Yifeng International Assets as the underlying asset. Issuance of equivalent "digital options" on international digital asset exchanges based on asset valuations for global trading.
Affected by market news, the share price of Ding Yifeng Holdings (HK00612, share price of HK$1.19 per share, total market capitalization of HK$1.858 billion) has fallen sharply in recent days, including a sharp drop of more than 30% on the 16th. After the stock price plummeted, Ding Yifeng Holdings issued a clarification announcement stating that the positive notice was not issued by the company, and the board also declared that, to the best of its knowledge, knowledge and belief, the issuer of the so-called positive notice (i.e. "Ding Yifeng International Asset Management Group") was not a subsidiary or affiliate of the company.
Although Ding Yifeng Holdings has cleared up the relationship, the reporter noticed that the "major positive announcement" has the signature of "Sui Guangyi", and Sui Guangyi and the Hong Kong Ding Yifeng Company actually controlled by Ding Yifeng are both shareholders of Ding Yifeng Holdings.
At the same time, a person who claimed to be a "Lao Ding insider" also told reporters that the announcement of applying for listing on the international digital asset exchange was issued by Ding Yifeng.
In this regard, the reporter called Hong Kong Ding Yifeng, but the phone has not been answered.
It is worth noting that at present, Ding Yifeng is still enthusiastically promoting products to reporters, and told reporters that Sui Guangyi has been promoted to vice president of OCBC Bank of Asia and president of the international investment banking department.
However, when the reporter called OCBC Bank China, he was told by the staff that there was no such person as Sui Guangyi in the bank, and reminded that it was necessary to pay attention to the safety of funds. "We don't have OCBC Bank in Asia. ”
Liu Gongwu, a lawyer at Guangdong Suijiang Law Firm, believes that digital options are a type of options that should be established in accordance with the law, norms and truth, but even so, as a high-risk financial instrument, the profit and loss of options cannot be determined, so investors should make cautious and scientific decisions when deciding whether to invest in digital options.
Regulators have issued a series of warnings
The reporter noticed that Ding Yifeng had been warned twice by the Shenzhen Local Financial Supervision Bureau, pointing out that the business entity of "Ding Yifeng" in Shenzhen did not hold a financial license and did not have the qualifications to engage in financial business.
"The general public is requested to enhance their awareness of risks, carefully choose investment and financial management channels, do not participate in various financial product publicity gatherings held by entities that do not have financial qualifications, remain vigilant against investment projects such as high yields, original equity, and options, and do not fall into the trap of illegal fundraising. According to the risk warning issued on the official website of the Shenzhen Local Financial Supervision Bureau, according to the provisions of the Regulations on the Prevention and Disposal of Illegal Fundraising, the losses incurred by participating in illegal fundraising shall be borne by the fundraising participants.
As for whether Ding Yifeng is involved in illegal fundraising, Zeng Jie, director of the defense center of the illegal fundraising case of Guangdong Guangqiang Law Firm, pointed out to reporters that from a legal point of view, illegal fundraising from the characteristics of the industry requires suspected fundraising for unspecified public, and second, it needs to have a commitment to guarantee the payment of principal and interest.
"Verbal promises to guarantee the payment of principal and interest are also acceptable, but from the perspective of civil cases, such as lawsuits, they must be written in the contract. However, from the perspective of criminal cases, only evidence is needed to prove that the salesman or contract, or that there was a large-scale commitment to the investor, leading the investor to believe that the principal and interest will be paid in full. ”
Zeng Jie said that no matter what the project is, if the project is successful, the initiator will give investors relevant benefits, and the unsuccessful sponsor will also give investors relevant guarantees, so that a commitment will be formed, which will constitute illegal absorption of public deposits. "But there is also a distinction in this, if it is just to predict to investors what kind of benefits the project may have, but also to tell investors that the project itself is risky, then it does not constitute a crime, and the standard of criminal cases is very strict. ”
It is worth noting that during the interview, an investor told reporters that there was a situation where someone else signed the contract at that time, and he only determined the amount and terms of the contract, but the investor himself did not sign it, and the name on the contract he finally got was not signed by himself.
Zeng Jie said that if the contracts are signed by others, then there will definitely be a lack of screening of "qualified investors", so the core point of this case is whether there is a commitment to guarantee the payment of principal and interest.
"There is a problem with the review of qualified investors, and there is a condition to be added, that is, the commitment to guarantee the payment of principal and interest, and the commitment to guarantee the payment of principal and interest, as long as you get a contract of the commitment to guarantee the payment of principal and interest, the characterization of this matter is self-evident, and there is no need to say who will characterize him, and the facts show that he is illegal fundraising. Zeng Jie said that according to the judicial interpretation of the Supreme People's Court, it must be a very clear commitment to guarantee the payment of principal and interest, which is a promise to ensure that investors will not lose, rather than a prediction.
Zeng Jie pointed out that it is possible that Ding Yifeng has been prepared for a long time, and what he signed with investors is a kind of specious, which looks like a promise and does not look like a promise. "There is controversy over the extent to which such cases are indeed guaranteed to repay principal and interest, and whether they can be characterized as illegal fundraising may still need to be discussed. ”
National Business Daily