Yunnan Hongru's brand "Old Boy" used to be the designated tea for Boao International Tourism Forum 20 10 and the reception tea for Shanghai World Expo. Li Xinghua himself made frequent appearances in the media, and once made a high-profile claim to build "China Pu 'er tea carrier". 20 10 The chairman of Yunnan Hongru Tea Co., Ltd. made three consecutive programs in a CCTV media, talking to the audience Kan Kan, claiming that the "Laotongzi" brand Pu 'er tea has a history of more than 400 years and entered the Shanghai World Expo from the "Tea-Horse Road", the highest ancient commercial road.
From 2006 to the first half of 2007, due to a large amount of hot money entering the Pu 'er tea market, the price of Pu 'er tea was wildly hyped, with an average appreciation of 100% ~ 200%, and some even appreciated by more than 10 times. Tea cakes with a kilogram of tens of yuan were fired to several thousand yuan or even ten thousand yuan. At that time, there were tens of millions of people frying Pu 'er tea, and manufacturers, merchants and even ordinary people were hoarding Pu 'er tea. However, the good times did not last long. From the second half of 2007, Yunnan Pu 'er tea fell to the bottom almost overnight, and then it fell all the way, and its value returned to its original shape.
According to Hangzhou media survey, the marketing model of Hongru Company is similar to "back-to-capital sales". The contract is divided into two parts, one is the Pu 'er tea purchase contract, and the other is the Pu 'er tea consignment contract. The operation mode is roughly as follows: Party A (the victim) invests to buy a certain amount of Pu 'er tea from Hongru Company and then entrusts Hongru Company to sell it. Initially, the contract period was 3 years. If Hongru Company fails to sell Pu 'er tea within 3 years, it shall pay 20% of the annual investment to Party A in return, and the Pu 'er tea will be recovered by Hongru Company at the original price, and the remaining profits will be returned to Hongru Company. During the whole process, Party A only needs to pay a small amount of storage management fees. In June 2009, Hongru Company made some adjustments, reducing the annual return of new investors to 65,438+06%, and paying quarterly and four times a year.
The way to raise funds is very hidden. There is one price for the sales contract and one price for the guaranteed repurchase contract. The difference between the guaranteed repurchase price and the sales price is fixed income, and the income exceeding the guaranteed repurchase price is floating income. There are two contractual constraints, and the seller does not seem to let investors bear any risk of commodity price fluctuations. A large number of investors came to consult from word of mouth.
Investors who pay to buy first, then deposit, and then wait for the company to buy back are constantly appearing, and the number of goods that the company takes out to sign sales, warehousing and repurchase agreements may be very small. In this fund-raising model, only a small number of valuable goods, many investors have the right to use funds. The above-mentioned insiders said that the sales price is low, the repurchase price is high, and the entrusted custody cost is low. There is no problem with all three contracts. But together, they can absorb public deposits in disguise. The practice is extremely hidden, and it is difficult to supervise and characterize.
The purpose of absorbing public deposits in disguise is not all "absconding with money", but some enterprises are for investment. For example, when gold is used to absorb public deposits, a small amount of leveraged funds can be used for hedging transactions in the futures market; The difference between "full sales" and leveraged funds is used for investment.
A prosecutor in Hangzhou revealed that "the purpose of Li Xinghua's fund-raising is still under investigation".