No, Tengming Group, as one of the earliest companies providing bank second-hand car loan guarantee services in China, has long-term partners of more than 30,000 second-hand car dealers. As of August 27, 2022, Sichuan Tengming Auto Loan Company has not closed down. It is a regular loan company with business licenses issued by the industrial and commercial departments and the state, and many people have borrowed money on it.