On January 29, Yunnan regulatory bureau of China Banking and Insurance Regulatory Commission announced the information of administrative punishment. Yunnan International Trust Co., Ltd. (hereinafter referred to as “Yunnan trust”) was fined 800000 yuan for failing to effectively control the additional charges from third-party cooperative institutions to borrowers and serious carelessness in personal loan business.
At the same time, four people, including the general manager of the Trust Business Department II of Yunnan International Trust Co., Ltd., were fined from 50000 yuan to 80000 yuan, totaling 230000 yuan, for being responsible for the illegal act of “failing to effectively control the additional fees charged by the third-party cooperative institutions to the borrower”.
It is worth noting that Yunnan banking and Insurance Regulatory Bureau issued a fine of 500000 yuan to Yunnan trust a month ago. The cause of the case was the illegal issuance of land reserve loans with trust funds. At that time, he was the trust vice president, manager, assistant and deputy general manager of Yunnan trust innovation business Department, and was fined 100000, 60000, 60000 and 80000 respectively. The punishment information was publicized on January 10.
In addition, on January 26, the Kunming Central Branch of the central bank made an administrative punishment decision. Yunnan trust was fined 225000 yuan for failing to stop the user in time and failing to inform the information subject before reporting the bad information of individual customers to the basic financial credit information database. In February 2010, the former CBRC issued the notice on strengthening the supervision of real estate trust business of trust companies, requiring trust companies not to issue land reserve loans with trust funds.
With regard to the fined personal loan business of Yunnan trust, it has been reported that the letter and visit response documents revealed that in 2020, Yunnan trust was ordered to rectify by Yunnan regulatory bureau of China Banking and Insurance Regulatory Commission due to its cooperation with Xiaoxiang premium products, involving improper business cooperation with a third party without lending qualification. Xiaoxiang premium products mainly involve consumption installment and credit card repayment products.
In 2020, mixiaofeng, the consumer finance platform of mixiaofeng wisdom (Beijing) Technology Co., Ltd., a linkage advantage holding enterprise of Hyunion Holding Co.Ltd(002537) (002537. SZ), announced that the cooperative trust plan expired and the original creditor was changed from Yunnan trust to mixiaofeng. According to the Hyunion Holding Co.Ltd(002537) 2019 annual report, linkage advantage entrusts Yunnan trust with its own funds to provide loans to qualified borrowers designated under the consumption installment shopping and credit card bill installment scenarios when linkage advantage’s own business platform provides consumer financial services.
It is disclosed that Yunnan trust has developed consumer finance business since 2016. In March 2016, Yunnan trust signed a strategic cooperation agreement with Bairong yunchuang (formerly Bairong financial service, Bairong cloud (06608. HK)) involved in the field of consumer credit to cooperate in big data risk control, asset risk pricing, Internet finance, marketing and other aspects.
In 2019, Yunnan Trust launched a self purchase consumer loan product, “cloud letter Buffalo”, which was involved in cash flow and self financing. The following year, the official account was renamed “Yunnan trust personal credit service platform”. Today, Yunnan trust operates “Yunyi loan” to provide small loan services.
Since the second half of 2021, many Gosling users have pointed out that the product name of the applet has been changed to “Yunyi loan”, and the loan limit has been frozen. The “Yunyi loan” applet shows that the service is provided by Yunnan trust, and the product prompt is the invitation mechanism. The gosling spends money and the small program still exists, which is served by Weizhong bank. Gosling spent money online in 2019 and was named by the Ministry of industry and information technology in 2020 for privately collecting personal information. Before the change, Yunnan trust had been pointed out to be one of the funds used by goslings.
According to incomplete statistics, the loan assistance platform that Yunnan trust has worked together includes the “borrow and borrow” of byte beating and trembling, the “buy and buy” purchase of “Qian Mei”, the “where to borrow money”, the “golden money”, the “small tiktok”, the small elephant superior product, the pat loan, the flash silver, the Weixin “Doudou money”, “Kaka loan”, and Ping An Bank Co.Ltd(000001) “Ping Zhi loan”.
By the end of 2020, the cumulative lending volume of consumer financial trust was 129.1 billion yuan, and the total lending volume of Yunnan trust in that year was 27.7 billion yuan. In 2020, the revenue of Yunnan trust was 745 million yuan, a year-on-year decrease of 16%, and the net profit was 319 million yuan, a year-on-year decrease of 20%.
According to the official website, the purpose of Yunnan trust’s consumer finance trust fund is to provide financing trust for consumption for individual or family consumers; Usually in the form of trust loans, Internet consumer finance enterprises, as loan AIDS, recommend loan customers through the “inclusive star” system of Yunnan trust. The consumer financial trust of Yunnan trust also involves agricultural scenes. Up to now, Yunnan trust has 2035 existing products, including 187 Pratt & Whitney related fund trusts.
Some cases of judgment documents show that “Yunnan trust Puhui No. 90 Anji single fund trust” involves many loan disputes. The relevant loans are user housing decoration, and some loans are overdue.
Yunnan trust, formerly known as Yunnan Fudan trust and investment company, was funded and established by Yunnan Provincial Department of Finance in 1991. It was approved to be re registered after the capital increase and restructuring of the former Yunnan International Trust and investment company in 2003. In that year, it introduced “Yongjin” private enterprises. In November 2021, the shareholders of Yunnan trust changed, and the Yunnan Provincial Department of Finance withdrew and transferred to holding 25% of the shares of Yunnan trust through the wholly-owned subsidiary Yunnan state owned Financial Capital Holding Group Co., Ltd.
In addition, Yongjin industry (Group) Co., Ltd. holds 24.3%, Shanghai nano Venture Capital Co., Ltd., which is controlled by “Yongjin Department” Chen Jinxia, holds 23%, and Beijing Zhijin Technology Investment Co., Ltd., which is also a “Yongjin Department”, holds 17.5%. Shenzhen Zhongmin e-commerce Holding Co., Ltd. (formerly Shenzhen Litong) holds 7.5% and Yunnan hehe (Group) Co., Ltd. under Hongta Group holds 2.50%. In 2020, it was reported that Yunnan trust intended to introduce new war investment. Up to now, the actual controller of Yunnan trust is Chen Jinxia.
Yunnan trust is also involved in the 10 billion “Chengxing case”. As the trustee of the Yunyong series of collective fund trust plans, Luo Jing, the actual controller and guarantor of the financing party, is suspected of contract fraud. Yunyong series projects have a total of 11 trust products, with a total paid in trust scale of 1.583 billion yuan. The trust funds are used to transfer the accounts receivable held by Guangdong Zhongcheng Industrial Holding Co., Ltd. and Guangdong kang’an Trade Co., Ltd. with Suning.Com Co.Ltd(002024) Suning.Com Co.Ltd(002024) procurement center as the payer.
On August 14, 2021, the announcement of Yunyong No. 1 collective trust plan extension shows that the product will be extended for another two years. Yunnan Trust said that in extreme cases, Yunyong series projects may not be able to recover the trust principal, and there is a risk that the trust benefits cannot be distributed to investors.
