Huge amounts of funds have not been cashed, and the person in charge of thunderbolt P2P rights protection uses the cashing money to fry Panda Financial Holding Corp.Ltd(600599) ? All parties questioned and changed to say that the funds were self raised

Another strange thing is added to the capital market. In late December last year, Panda Financial Holding Corp.Ltd(600599) (600599, SH) disclosed that natural person Zhang Yiying controlled several natural person accounts and bought shares of the company on a large scale. It is common for listed companies to be increased by capital, but Zhang Yiying’s identity is not general. She claims to be the head of the Rights Protection Committee of Yinhu network, a P2P platform. “(I) bought the company’s shares with the money planned to be paid to the investors in 2022, hoping to make a profit and pay it to the investors of Yinhu network.” Zhang Yiying said in the statement of changes in equity.

From the industrial and commercial information, Silver Lake network, which has been thundering for a long time, is still under Panda Financial Holding Corp.Ltd(600599) , and more than 2 billion yuan of funds have not been cashed. Its thunderbolt P2P platform uses cashing funds to buy its own company’s shares? Such a dramatic scene attracted many questions. On January 11, Panda Financial Holding Corp.Ltd(600599) said that after inquiry, Zhang Yiying’s funds for investing in the company’s shares were not Yinhu’s own funds; At the same time, Panda Financial Holding Corp.Ltd(600599) emphasizes again that Silver Lake network is no longer controlled by it.

Zhang Yiying’s increased holdings of funds did not come from the cashing of yinhu.com?

According to the Panda Financial Holding Corp.Ltd(600599) announcement, Zhang Yiying’s behavior of investing in stocks is mainly Zhang Yiying’s personal system, not yinhu.com; The source of funds Zhang Yiying used to invest in the company’s shares is the additional funds raised by Liu Hai, the actual controller of Dengkou haochang Consulting Service Co., Ltd. (hereinafter referred to as haochang consulting), not the own funds of yinhu.com, the funds of yinhu.com investors and the borrower’s repayment funds recovered by yinhu.com, and the ownership of these funds itself does not belong to yinhu.com investors. “Therefore, Zhang Yiying’s use of idle funds to invest in stocks is legal.” Panda Financial Holding Corp.Ltd(600599) indicates.

According to the disclosure in late December of Panda Financial Holding Corp.Ltd(600599) , by controlling the accounts of Chen Jiangen, he Weifang, Fu Feng, he Tingqiang, Zhao Xiaofeng and Du Xinda, plus her own accounts, Zhang Yiying directly and indirectly controlled 30.0892 million shares of the company, accounting for 18.13% of the total share capital of the company.

Zhang Yiying’s identity is very special. According to the statement of changes in equity, Zhang Yiying and her relatives and friends invested heavily in Silver Lake network, a P2P platform operated by Silver Lake Network Technology Co., Ltd. (hereinafter referred to as silver lake network technology). The investor recommended him to be the person in charge of the Silver Lake network investor rights protection Committee to comprehensively manage and supervise the cashing of Silver Lake network to investors and other related expenses. It is said that she has been docking with the shareholders of haochang consulting on the cashing work of yinhu.com investors.

According to Zhang Yiying’s previous statement, Silver Lake investors need to pay a large amount, and there will be more than 2 billion yuan by the beginning of 2020. The loans that silver lake can receive and the funds that silver lake receives from other places are not enough to cover the arrears of Silver Lake investors, and the investment funds returned to investors must be completed. Therefore, it is necessary to find additional ways to raise funds. So she bought Panda Financial Holding Corp.Ltd(600599) shares with the money planned to be paid to investors in 2022, hoping to make a profit to pay the investors of yinhu.com.

The person in charge of thunderbolt P2P Rights Protection Committee makes money by investing in stocks and cashing investors, which sounds very inspirational. But if so, the risk of securities investment means that it is not responsible for the investors of yinhu.com.

The reporter noted that recently, some investors asked Panda Financial Holding Corp.Ltd(600599) through the interactive platform and said: “as a lender of yinhu.com, the repayment proportion of the platform for rights protection in the past three years is only 16% of the principal. Now I declare that I have never heard of the establishment of an investor Committee, let alone Zhang Yiying among the borrowers. I have never entrusted or allowed anyone to buy your company’s shares with the hard-earned money of the lender”. The Shanghai Stock Exchange also quickly issued an inquiry letter asking listed companies to verify and explain the relevant situation.

the cashing gap of yinhu.com exceeds 2 billion yuan

Silver Lake network was once one of the main P2P platforms of Panda Financial Holding Corp.Ltd(600599) and was once an important carrier for listed companies to transform Internet finance. However, the P2P industry changed dramatically in 2018, and the performance of Silver Lake network also changed. In 2019 and 2020, the listed company twice planned to divest yinhu.com by transferring the equity of panda Capital Management Co., Ltd. (hereinafter referred to as panda capital), but they failed to make the trip. During this period, Silver Lake network technology was filed by the Economic Investigation Detachment of Dongcheng Branch of Beijing Public Security Bureau in October 2019, and Silver Lake network exploded.

From the industrial and commercial data alone, haochang consulting has no equity relationship with yinhu.com. According to qixinbao, Silver Lake network technology is wholly controlled by panda capital, while panda capital is still a wholly-owned subsidiary of Panda Financial Holding Corp.Ltd(600599) . According to Panda Financial Holding Corp.Ltd(600599) , the company transferred 100% equity of panda capital to haochang consulting in December 2019, and the above transaction was cancelled by relevant departments in late January 2020. However, Panda Financial Holding Corp.Ltd(600599) claims that it has completed the handover procedures of all materials of panda capital with haochang consulting, so panda capital and its Silver Lake network have always been under the control of haochang consulting. From December 2019, haochang consulting and its actual controller Liu Hai will be responsible for all remaining work such as the benign exit of Yinhu network in the later stage

Photo source: screenshot of qixinbao

It is worth mentioning that the cashing work of Silver Lake network has not been completed. According to the information disclosed in the early stage of Panda Financial Holding Corp.Ltd(600599) , as of May 31, 2021, the number of remaining lenders of yinhu.com was 26600, the cashed amount was 1.352 billion yuan, and the balance to be cashed was 2.111 billion yuan.

“In order to solve the fund cashing problem of yinhu.com investors, Liu Hai plans to use the funds that do not belong to yinhu.com, yinhu.com investors or yinhu.com borrowers for cashing yinhu.com investors, which is conducive to safeguarding the rights and interests of yinhu.com investors.” Panda Financial Holding Corp.Ltd(600599) indicates.

Qixinbao shows that Liu Hai serves as a shareholder in three enterprises; It also serves as the legal representative of 31 enterprises and senior executives of 27 enterprises, but many of them have been cancelled. Among the above-mentioned enterprises involved in bangs, some companies have indistinct links with Panda Financial Holding Corp.Ltd(600599) .

According to the information disclosed on Panda Financial Holding Corp.Ltd(600599) January 11, the account controlled by Zhang Yiying began to gradually buy Panda Financial Holding Corp.Ltd(600599) shares as early as June 2017; From May to early December last year, Zhang Yiying greatly increased her holdings. During this period, the total shareholding of the two accounts reached more than 5% in late May last year.

From the disk view, Panda Financial Holding Corp.Ltd(600599) share price has continued to rise since mid January last year. It seems that Zhang Yiying’s increase in holdings should contribute.

(source: Daily Economic News)

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