On the evening of October 5th, 65438/kloc-0, the official micro-bulletin of the network letter said that Zhang Zhenxin, the chairman of Pioneer Group and the actual controller of the network letter group, died in London, England on September 8th, 20/kloc-0, at the age of 48, due to multiple organ failure, alcohol dependence and acute pancreatitis.
The last time Jang Jin appeared in the public eye was on July 23rd, three months ago. At that time, he mentioned in an internal letter to all employees that the Group had encountered unprecedented difficulties and crises, and now it has started a restructuring plan, hoping to reverse the unfavorable situation in the shortest time. Since then, there have been many rumors about the status of Jang Jin Xinhe Vanguard Department until today. Just in September, the news that Zhang Zhenxin lost contact came out, and his real situation remained a mystery.
According to the obituary, after Zhang Zhenxin died of illness abroad, his family and the company's accompanying staff handled the funeral, and on September 26th, they obtained the death report issued by the hospital and the designated forensic appraisal institution and the death certificate issued by the London District Government. At the same time, because the Group was in an extraordinary period, the core team, after learning the bad news, confirmed the cause of death of Zhang Zhenxin through various verifications such as death reports on the principle of prudence and safety.
The crisis began three months ago.
On July 8, Zhongxin Holdings, a Hong Kong-listed company under Pioneer Group, announced the suspension of trading, and then announced the details of its wholly-owned subsidiary Pioneer Payment Co., Ltd. in China.
Since then, Sino-Singapore Holdings has been silent. The share price of HK$ 0.0 12 remains unchanged, and the market value remains at HK$ 278 million.
On July 23rd, Zhang Zhenxin, Chairman of Pioneer Group, published an internal letter, acknowledging that the Group had encountered unprecedented difficulties and crises. At present, the restructuring plan has been started, and the asset restructuring plan has been negotiated with many asset management companies, brokers, auction companies and property rights exchanges, and achieved practical results, hoping to reverse the current unfavorable situation in the shortest time.
Zhang Zhenxin said in the letter that the downturn of the real economy has led to a serious decline in the quality of assets at the asset end, the value of collateral has shrunk, and the difficulty of disposal has increased; At the same time, we also met some enterprises and individuals who maliciously evaded debts.
"Although we have more than ten years of experience in providing professional financing services and wealth management for SMEs and have a strong intelligent risk control system, we cannot 100% avoid risks; Although we have been using our own funds to maintain liquidity and maintain rigid redemption, there are still inevitable overdue moments. " Zhang Zhenxin said that at present, a collection management working group has been set up, and circular letters have been sent to borrowing enterprises and asset providers. The team has arrived to collect debts through legal means, sort out the names of enterprises and individuals in arrears and report them to relevant departments.
Zhang Zhenxin promised that he and the core management team will stick to their posts, never give up, have a clear division of labor, have the same goal, be responsible to the end, go all out to carry out all the work, and do their best to protect the interests of investors and the rights and interests of every employee.
Despite Zhang Zhenxin's statement, Sino-Singapore Holdings, a Hong Kong-listed company owned by Pioneer Group, has been slow to open, and its share price of HK$ 0.0 12 barely supports a market value of 278 million.
19 On June 4th, Zhongxin Holdings announced that, as disclosed in the announcement on July 8th, 20 19, relevant departments of China government required Pioneer to take severe remedial measures for some major non-compliance matters related to its business operation.
Our company has learned that Pioneer Payment has temporarily stopped operating since the on-site inspection by relevant departments of China Municipal Government on July 8, 2009.
"The working group is now discussing closely with the relevant departments of the China Government the remedial measures to be taken. The relevant departments of China Municipal Government have not issued any written investigation results or notice of remedial measures. According to Sino-Singapore Holdings, except for the temporary suspension of Pioneer Payment, other businesses of the Group are still going on normally. The company has been investigating some major non-compliance issues of Pioneer Payment, including setting up an internal investigation team to follow up related matters.
According to Caixin. Com, Pioneer paid illegally because another company of Pioneer Department had a problem with the wealth management company of Netcom Group. Pioneer payment involves misappropriation of bank "T+0" funds, and there is a vacancy of 240 million yuan.
In the past year, the share price of Sino-Singapore Holdings has been in a state of decline for a long time. From 2065438 to September 2008, the short-selling institution Boli Darth Research issued a report accusing the actual controller Zhang Zhenxin of malicious false transactions, exaggerating financial performance and fabricating book income. The equity value of Sino-Singapore Holdings is ultimately zero.
According to public information, Sino-Singapore Holdings and Netcom Group are two major sectors of "Pioneer" Internet finance business, and the actual controller of "Pioneer" is Zhang Zhenxin.
Pioneer system under thunder tide of mutual gold explosion
According to public information, the eight main businesses of Sino-Singapore Holdings are: third-party payment, online investment, technology-driven loans, traditional loans and financing services, social games, insurance, asset management and blockchain, and it owns two subsidiaries: pioneer payment and palm financial services.
20 19 April, Zhongxin Holdings released its 20 18 annual report. The annual report shows that the annual net profit of Sino-Singapore Holdings has suffered a loss for the first time since its listing, amounting to 836 million yuan, because the performance of Zhang Jinfu, a consumer loan platform acquired by 20 16, has shrunk dramatically in 20 18. In 20 18, the contribution rate of palm financial services to the total income reached 69.4%, with a total amount of about 3.334 billion yuan.
According to the financial report, in the middle of 20 18, the total amount of transactions facilitated by Zhang Jinfu was only 106 billion, and his performance declined by more than 80%, which was greatly affected by the mutual gold explosion in 20 18.
In the previous article, Pioneer Payment, which is caught in the rumor of violation, has a third-party payment business license issued by the People's Bank of China, a non-financial institution, and can operate nationwide Internet payment and the issuance and acceptance of prepaid cards (Beijing, Liaoning Province). At present, the business scope of Pioneer Payment covers basic payment services and online loan bank depository, direct banking, industrial chain finance, online loan cloud platform and cloud wallet.
According to public reports, from 2065438 to March 2009, China Bank Dalian Central Sub-branch issued a penalty decision, and Pioneer Payment was fined 420,000 yuan for violating the payment business regulations.
According to the financial report of Sino-Singapore Holdings, as of the first quarter of 20 19, the total amount of pioneer payment transactions reached 2 157 billion yuan, up about 36% year-on-year; The cumulative number of active users reached 5.37 million; The income generated by pioneer payment is1.1.50 billion yuan, accounting for about 22% of the total income of Zhongxin Holding Group.
A network letter of chicken feathers in one place
It is Wang Xin Group, another peer-to-peer platform of Pioneer Department, that ignited the thunder paid by Pioneer.
In the early morning of July 4th, Sheng Jia, CEO of Netcom Group, once said that the platform of Netcom would quit in a benign way. At noon that day, the official account of WeChat, Netcom, announced that at present, the Netcom platform was overdue on a small scale. As an information platform, it is actively communicating with product managers and related financing enterprises, actively collecting funds, and has formulated strategies such as delaying exit and steadily reducing the scale of some businesses.
Netcom Group also stated in the statement that leaders such as China Internet Finance Association and Beijing Finance Bureau have also given great trust and support to Netcom, and Netcom is still actively preparing relevant filing matters. Any progress will be actively updated in batches.
On the evening of July 5, Netcom Group issued a statement again, saying that some products of the Group were overdue due to the failure of large enterprise targets to repay in time and some borrowers maliciously evaded debts. Netcom Group will strengthen internal risk control and intensify the collection of enterprises in arrears. Pioneer Group, the parent company of the Group, will also actively help and support the redemption work, and strive to return to a benign and healthy operating state in the shortest time. At present, the senior executives of the group have their own duties, and there are no rumors and reports of "being detained" and "being taken away".
Under Zhang Zhenxin's obituary, the first message was "I urge Pioneer and the new management team of Netcom to work hard and repay investors as soon as possible".
On September 28th, before Zhang Zhenxin's obituary was published, the latest work released by Netcom showed that five products were repaid in the exclusive project of Netcom, with a total amount of 4,787,300 yuan. The total repayment amount of Netcom Pratt & Whitney consumer loan project is 24.9709 million yuan, and the repayment amount of supply chain project is 1 104700 yuan.
According to the data of the registration and disclosure platform of China Internet Finance Association, as of July 3, 20654381day, the accumulated loan balance of Netcom Pratt & Whitney, a P2P platform under Netcom Group, was 16527800 yuan, and the cumulative number of borrowers was 3,752,500. At present, the overdue rate of the project is 59.48%, and the overdue rate of the amount is 14.655.
Netcom Group once said that since June 2065438+2008, the P2P "Thunderstorm" has caused many investors to withdraw their funds. However, the transaction and service fees of Netcom Holdings continue to grow.
In addition to P2P business, Netcom also has private equity, securities, insurance and other business lines. It also has an offline wealth management team Huaying Fortune.
It is reported that from 2065438 to March 2009, Netcom Group just completed the curve listing plan and landed in the capital market through Hunter Maritime Acquisition, which has been listed in the United States.
According to the announcement issued by Hunter Company, when the two parties merge, the equity value of Netcom Group is estimated to be 2 billion US dollars, about 65.438+034 billion yuan. Netcom Group began to make profits from 20 17. By the end of September, 20 18, the net profit of Netcom Holdings was US$ 49.5 million, about RMB 330 million.
10 On June 5th, at the bottom of the obituary, Wang Xin Guan Wei also announced that in order to continuously resolve the crisis, the on-the-job management team insisted on a responsible attitude, and set up a temporary crisis management working group at the first time, and recommended Zhang Liqun, CEO of the Group, as the team leader to discuss the follow-up work plan and scheme together. After the establishment of the working group, all sub-group companies of Pioneer System shall be informed first, and it is not allowed to transfer property, change or cancel the company without permission.
The working group will focus on safeguarding the interests of creditors, maintaining social stability, protecting the company's assets from losses, and continuing to complete the payment of various products, and establish and strengthen asset management, creditor management and payment and collection management. At the same time, we urge Everbright lenders, investors, creditors, partners and news media to continue to give understanding and tolerance to Pioneer Group. The company will do its best to do all the work and try to resolve the risks as soon as possible.
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(Article source: Caijing Tianxia Weekly)
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