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【Introduction】Chinese Industrial Investment Trust Products Loss Exceeds 80 Million Yuan in 7 Years

China Fund News Amman

On August 20, Huazi Industrial issued an announcement stating that the company recently received a trust benefit of RMB 25.2869 million from New Era Trust Co., Ltd. (hereinafter referred to as New Era Trust) after deducting trust remuneration and trust fees. After the trust benefit is recovered, according to the disposal agreement, the company still has RMB 1.2 million of the principal of the credit guarantee fund and its interest to be recovered.

According to previous announcements, Huazi Industrial subscribed 120 million yuan of New Era Trust products. Together with the 10.4709 million yuan received in July, this means that Huazi Industrial has only recovered 30% of the principal.

A previous announcement showed that on January 20, 2017, China Industrial and Commercial Bank of China and New Era Trust signed the "New Era Trust-Hengxin No. 63 Collective Fund Trust Plan Trust Contract". The company subscribed to the New Era Trust-Hengxin No. 63 Collective Fund Trust Plan (hereinafter referred to as the Trust Plan) with its own funds of 120 million yuan.

During this period, the company extended the trust period several times to July 20, 2021. After the expiration, the principal of 120 million yuan and the interest income of more than 10 million yuan were overdue and could not be recovered. In April 2021, Huazi Industrial fully provided for impairment losses on the New Era Trust-Hengxin No. 63 Collective Fund Trust Plan.

On June 2, 2022, New Era Trust, which is under takeover, released a natural person repayment plan: the repayment ratio for natural person investors is 50%~80%: the first tier: less than 3 million (inclusive), the calculation ratio is 80%; the second tier: 3 million to 6 million (inclusive), the calculation ratio is 70%; the third tier: 6 million to 10 million (inclusive), the calculation ratio is 60%; the fourth tier: 10 million and above, the calculation ratio is 50%.

Obviously, the redemption ratio of institutional investors is lower than that of natural persons.

Editor: Xiaomo

Audit: Wooden Fish

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