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since haiyin wealth’s “explosion” in december 2023, tens of thousands of investors behind it have ushered in new progress.

on september 11, the fengxian branch of the shanghai public security bureau issued a police report, stating that it had recently filed a case for investigation into haiyin wealth management co., ltd. (hereinafter referred to as "haiyin wealth") for suspected illegal fund-raising crimes, and had taken criminal coercive measures against several suspects including han moumou, han mou, and wang mou.

everything seemed to happen a little suddenly. an employee of haiyin wealth who is still working told phoenix.com's "eye of the storm" that they went to work as usual on the morning of september 10, and suddenly more than a dozen police officers entered his office floor. they left their workstations as required, registered their names, id numbers, and positions, and went home to wait for news. the office floor where they are currently working has been blocked, and it is still unclear when work will resume and what the future will be like. september 10 was originally payday, but the wages have not arrived.

the employee revealed that senior executives in his department were also taken away by the economic investigation bureau to assist in the investigation.

a month ago, he met han hongwei, the actual controller of haiyin wealth, in the company. the other party had a relaxed expression and nodded in a friendly manner when they met. on september 5, he met wang dian, the president of haiyin wealth. at that time, she was speaking to employees. her voice was confident and loud, and there was nothing unusual.

as haiyin wealth was investigated, shanghai guijiu, which is actually controlled by han and his son, also fell into a new round of turmoil. on september 11, the day the notice was released, the share price of shanghai guijiu fell by 6.91%. as of press time, the share price was 7.28 yuan per share. in the shanghai guijiu stock bar, an investor posted a message lamenting, "haiyin will eventually be investigated. will we get compensation for the losses in yanshi?" recently, shanghai guijiu just disclosed its semi-annual report performance, with a sharp decline in performance and a loss from profit. the operating income fell by 77.32% year-on-year, and the net profit was a loss of 77.38 million yuan.

phoenix.com's "eye of the storm" has followed up on the case many times, produced three in-depth reports, and interviewed dozens of investors and employees, restoring the problems of false fundraising and capital pool violations at haiyin wealth. after the report was published, it also attracted the attention of the shanghai stock exchange and the shanghai securities regulatory bureau, and they asked the related listed companies to respond to the questions raised in the report.

the article "falsely raising more than 10 billion in the name of evergrande? insider reveals the inside story of haiyin wealth's delayed redemption" points out the model problems of haiyin wealth and exclusively discloses the inside story of haiyin wealth's falsely raising more than 10 billion in the name of evergrande.

the article "han's father and son of haiyin group are in crisis again: shanghai guijiu has a department that laid off 90% of its employees, and employees revealed internal reports of skyrocketing performance" points out that shanghai guijiu has used the manpower and resources of china guijiu to boost its performance, and its sales model requires some employees to bring orders with them when they join the company.

the article "dummy people get salaries, and "employees" make payments to the company? the secret of the well-known listed company's performance surge is exposed" exclusively reveals that shanghai guijiu "raises" its employees as customers; local teams use fake identities to swipe cash flow; the company conducts financial isolation in actual operations, and part of the expenditure costs are shared by external companies, but the money paid by employees to buy wine is included in the "internal" company.

haiyin holdings, the controlling shareholder behind haiyin wealth, is the second third-party wealth management company in the mainland to be listed in the united states. it claims to be "ranked third" in china, second only to zhongzhi group and noah. haiyin holdings issued an announcement on december 14, 2023, stating that some of the distributed asset-backed products had redemption problems, and the products have been deferred since then. in may 2024, the securities times revealed that all the wealth management products sold by haiyin wealth were illegal, and it manipulated dozens of shell companies to build a "nested fund pool" with a scale of more than 70 billion yuan.

now, with haiyin wealth under investigation and criminal coercive measures taken against han and his son, shanghai guijiu is also facing an uncertain future. an employee revealed to phoenix.com's "eye of the storm" that they are still working as usual and communicated with several leaders as soon as the notice was issued, but no one responded.