A number of asset management products flow to Chuanwei Group.
The asset management report shows that the funds of various asset management products of Huaxi Securities flow to the trust products issued by China Railway Trust. An investigation by the reporter of Economic Information Daily found that the above funds of Huaxi Securities flowed to Chuanwei Group and its affiliated enterprises through China Railway Trust.
"Huaxi Securities' various asset management products and its own funds flowed into Chuanwei Group and its affiliated enterprises through China Railway Trust's fund pool project or single trust plan, with a total amount of 900 million yuan." An insider of Huaxi Securities revealed to the reporter of Economic Information Daily.
The reporter checked the public information of Huaxi Securities and found that Huaxi Securities did have a number of asset management products that flowed to the trust products of China Railway Trust.
Huaxi Securities Honglilai No.4 Limited Specific Aggregate Asset Management Plan 2065438+The asset management report for the second quarter of 2004 shows that as of 2065438+June 30, 2004, the product fund has invested 65438+500 million yuan in "China Railway Trust Wealth Management No.3 Trust Plan".
According to the asset management report for the second quarter of 20 14 of limited aggregate asset management plan No.6 of Huaxi Securities, as of June 30th, 20 14, the market value of the beneficial rights of the assets of this aggregate plan held by "China Railway Trust Wise 13 17 Trust Plan" was 50 million yuan.
The asset management report of Huaxi Securities Jiaxiang 1 No.20 14 in the second quarter shows that as of June 30th, 2014, the market value of the beneficial right of "China Railway Trust Wise 13 17 Collective Fund Trust Plan (inquiring about trust products)" held by this collective plan is. The market value of the beneficiary right of "China Railway Trust Wise 1459 Collective Fund Trust Plan" is 68.5 million yuan, totaling11850,000 yuan. On August 18, the collective plan was liquidated, and the market value of the beneficial right of "China Railway Trust Ruizhi 1459 Collective Fund Trust Plan" was transferred to Huaxi Yinfeng Investment Co., Ltd. (Yinfeng Investment). Yinfeng Investment is a wholly-owned subsidiary of Huaxi Securities with a registered capital of 654.38+0 billion yuan, which is a subsidiary of Huaxi Securities engaged in alternative investment business.
The asset management report of Huaxi Securities Jiaxiang No.2 collective asset management plan 20 14 in the second quarter shows that as of June 30th, 20 14, the market value of the beneficial right of the collective plan holding "China Railway Trust Wise 1335 Trust Plan" was RMB 4,265,438+million; The market value of "China Railway Trust Wise 1335 (2) Trust Plan" is 69 million yuan, and the market value of "China Railway Trust Wise 1459 Trust Plan" is 5.7 million yuan, totaling1/680,000 yuan.
The asset management report of Huaxi Securities Jiaxiang No.5 Collective Asset Management Plan 20 14 in the second quarter shows that as of June 30th, 20 14, the market value of the beneficiary right of "China Railway Trust Wise 1458 Collective Fund Trust Plan (1)" was 70 million yuan; Holding the beneficial right of "China Railway Trust Wise 1458 Collective Fund Trust Plan (Phase 2)" with a market value of 50 million yuan; Holding the beneficial right of "China Railway Trust Wise 1458 Collective Fund Trust Plan (Phase III)" with a market value of 60 million yuan; Holding the beneficial right of "China Railway Trust Wise 1459 Collective Fund Trust Plan (1)" with a market value of 40 million yuan; Holding the beneficial right of "China Railway Trust Wise 1459 Collective Fund Trust Plan (Phase 2)" with a market value of 65.8 million yuan; The market value of the beneficiary right of "China Railway Trust Wise 1460 Collective Fund Trust Plan" is17.5 million yuan, totaling 303.3 million yuan.
An unnamed person of China Railway Trust admitted in an interview with the Economic Information Daily that about 900 million yuan of funds from Huaxi Securities flowed into Chuanwei Group and its affiliated enterprises through the fund pool project or single trust plan of China Railway Trust.
The related party Chuanwei Group is on the verge of bankruptcy.
The Economic Information Daily reporter learned from Huaxi Securities that Sichuan Xinli Investment Co., Ltd. (hereinafter referred to as "Xinli Investment") holds 654.38+0.083 million shares of Huaxi Securities, with a shareholding ratio of 7.66%, making it the sixth largest shareholder of Huaxi Securities; Xinli Investment is an enterprise controlled by Chuanwei Group. It can be seen that Chuanwei Group is an affiliated enterprise of Huaxi Securities.
While Huaxi Securities invested heavily in asset management products in Chuanwei Group, a related party, Chuanwei Group gradually got into trouble and was on the verge of bankruptcy.
Chuanwei Group is the second largest iron and steel enterprise in Sichuan Province. In the case of the continuous downturn in the steel industry, this well-known local steel enterprise is also in trouble due to financial problems like Haixin Iron and Steel Group and Xilin Iron and Steel Group. According to the information obtained by the reporter, in addition to the difficulties brought about by the downturn in the steel industry, Chuanwei Group and its subsidiary Chengyu Vanadium and Titanium Technology Co., Ltd. (hereinafter referred to as "Chengyu Vanadium and Titanium") have expanded new vanadium and titanium projects on a large scale in recent years, with new loans exceeding 654.38 billion yuan and heavy debts, resulting in high financial expenses of the company, almost all of which are "short-term loans and long-term investments" and extremely tight funds. At present, their production is basically in a state of suspension.
2065438+In early July 2004, Chuanwei Group and its subsidiary Chengdu-Chongqing Vanadium-Titanium filed an application for "bankruptcy reorganization" with the court. At the same time, Neijiang City set up a working group with the mayor as the team leader and the deputy mayor as the deputy team leader to enter Chuanwei Group. The working group consists of four groups: production and stability.
Due to the shortage of funds, Chuanwei Group is very eager for funds. In recent years, it has been financing in various ways, involving about 20 banks such as CDB, ICBC, BOC and Minsheng Bank, as well as other financial institutions such as China Railway Trust, Zhongtai Trust and National Trust.
According to the data obtained by the reporter from the Sichuan Economic and Information Committee, according to incomplete statistics, the total liabilities of Chuanwei Group are as high as 32.3 billion yuan, mainly including bank loan debt of about 654.38+0.85 billion yuan, non-bank financial product debt of about 3.8 billion yuan and operating debt of about 654.38+0 billion yuan.
Huaxi Securities' listing dream or bubble?
Huaxi Securities illegally invested the funds raised by huge asset management products into Chuanwei Group, facing huge losses, and the listing target may be ruined.
According to the Measures for the Administration of Customer Assets of Securities Companies promulgated by the Securities Regulatory Commission [Weibo], "If a securities company invests its managed customer assets in securities issued or underwritten by the company and companies with related parties to the company, or engages in other major related transactions, it shall follow the principle of giving priority to the interests of customers, obtain the consent of customers in advance, inform the asset custodian and customers afterwards, report to the stock exchange at the same time, and take practical and effective measures to prevent conflicts of interest and protect the legitimate rights and interests of customers.
The product descriptions of the above-mentioned asset management products of Huaxi Securities promise that when a related party transaction occurs, the manager (Huaxi Securities) shall notify the trustee in writing, inform the customer through the manager's website and report to the stock exchange.
The reporter of Economic Information Daily checked all publicly disclosed materials of Huaxi Securities and found that it never disclosed the related transactions of asset management products (limited specific aggregate asset management plan of Huaxi Securities Honglilai No.4, limited specific aggregate asset management plan of Huaxi Securities Honglilai No.6, aggregate asset management plan of Huaxi Securities Jiaxiang 1, aggregate asset management plan of Huaxi Securities Jiaxiang No.2, aggregate asset management plan of Huaxi Securities Jiaxiang No.5, etc.). ) respectively invested in the affiliated companies of Chuanwei Group, an affiliated company.
The reporter also found that in the specific collective asset management plan of Huaxi Securities Honglilai No.2, Huaxi Securities invested 654.38 billion yuan to purchase the "China Railway Trust Chengdu-Chongqing Vanadium-Titanium Loan Project Collective Fund Trust Plan", which was clearly invested in Chengdu-Chongqing Vanadium-Titanium, a subsidiary of Chuanwei Group, and failed to truthfully disclose that the plan was invested in related parties.
Xing Huaizhu, chief risk officer and compliance officer of Huaxi Securities, said in an interview with this reporter that it is not convenient for me to answer your question.
While asset management products are operating in serious violation of regulations, Huaxi Securities is in full swing to promote its listing process. The reporter of Economic Information Daily learned that Huaxi Securities plans to submit the IPO materials on September 30, 20 14, requiring all departments to complete the preparation for listing on time. In addition, the reporter learned from the Sichuan Securities Regulatory Bureau that Huaxi Securities completed the share reform in mid-July and has now entered the listing counseling period. The counseling application date is 2065438+August 6, 2004, and the sponsor institution is CITIC Securities.
Zhang Yuanzhong, director of Beijing Wentian Law Firm, told the Economic Information Daily that the above-mentioned serious violations and huge losses caused legal damage to the IPO of Huaxi Securities, making it ineligible for listing.