1. It is understood that the predecessor of Cedar Trust is Zhongjiang Trust, and the predecessor of Zhongjiang Trust is Jiangxi International Trust and Investment Corporation. After divesting 928 million yuan of non-performing assets in 2004, it began to gain a foothold in the trust industry. However, the good times did not last long. While Zhongjiang Trust is expanding vigorously, Cedar Group has repeatedly walked on the brink of danger. The data shows that from 2008 to 20 17, the total assets of Zhongjiang Trust soared from the initial 737 million yuan to 10996 million yuan in ten years. Among them, the net profit in 20 16 was192.5 billion yuan, ranking sixth among 68 trust companies. Zhongjiang Trust's first fatal blow was the release of 20 18 new asset management regulations. At that time, the problems of barbaric growth and accumulation of many trust institutions were gradually exposed.

Second, until the first half of last year, old-fashioned head trust companies such as Sichuan Trust and Anxin Trust were not spared, and thunderstorms appeared one after another. Zhongjiang Trust is the hardest hit area of thunderstorm. Since 20 17, trust products such as Jinhe series, Jinma series, Yinxiang series and Jinlong series under Zhongjiang Trust have fallen into many overdue events. During the period, I also stepped on companies such as Leikaidi Ecology, Yiyang Group, Shenwu Energy Saving, and then set foot in credit information projects such as Jinma and India. In fact, such a rainy day is not without warning.

3. Previously, when Cedar Group entered Zhongjiang Trust, it disclosed overdue projects: 35 overdue projects with a total principal of 7.9 billion yuan, involving about 2,400 investors. It is rumored that the acquisition of Zhongjiang Trust by Cedar Holdings still needs to pay a transaction consideration of10 billion yuan. Therefore, the acquisition of Zhongjiang Trust by Cedar Group is also regarded as the scarcest financial license resource for gambling, and it is a breakthrough. You know, with the acquisition of Zhongjiang Trust, Cedar Group also won a "death-free gold medal". Moreover, the trust license is the first core financial license obtained by Cedar Holdings. Previously, the financial licenses obtained by Cedar were mostly in the fields of financial leasing, private equity fund, commercial factoring and guarantee. However, the operating data of Cedar Group, whose trust business is increasingly justified, is not optimistic. Cedar Development's recently released 202 1 semi-annual report shows that the operating income during the reporting period was 959,093,015.11yuan, a year-on-year increase of 42.90%. The loss was RMB 3,526,660.49, a year-on-year decrease of 93.7 1%.