Huaxia Times (www.chinatimes.net.cn) reporter Liu Jia reported in Beijing
Recently, Tibet Trust announced two trust plans with a total of 1.8 billion yuan.
It is understood that these two trust plans are "Barui No. 8" and "Barui No. 10". Among them, the total scale of "Barui No. 8" is 900 million yuan, with a planned term of 5 years; the scale of "Barui No. 10" trust is also 900 million yuan, with a planned term of 5 years.
Tibet Trust stated in the risk warning that due to the financial loan dispute between the two trust plan financiers Wuhan Kangshun Automobile Service Co., Ltd. (hereinafter referred to as Kangshun Automobile Service), and the trust plan guarantor involved the financial loan dispute between Minsheng Bank Wuhan Branch and Kangshun Automobile Service, it was sued by Minsheng Bank Wuhan Branch and the guarantor's equity in Shanghai Life Insurance Co., Ltd. held by the guarantor was frozen, so the guarantor sent an email to the principal to remind the relevant risks of its guarantor.
Tibet Trust stated: If the guarantor experiences related adverse conditions due to asset restrictions in the future, it will directly have an adverse impact on the guarantor's operating performance and debt repayment ability, which may in turn have an adverse impact on the repayment of this project.
The reporter checked the information and found that the guarantor referred to by Tibet Trust is Lanhai Holdings Group (hereinafter referred to as "Lanhai Group"), and the legal representative is Mi Chunlei.
In response, the reporter called the relevant departments of Tibet Trust to learn about the existence of the trust plan and its solvency. The staff said he would reply later. However, as of press time, no reply was received.
1.8 billion risk warning
It is understood that Tibet Trust "Barui No. 8" was initiated and established on August 7, 2020. The scale was 500 million yuan when it was established. The additional subscription was completed on August 10, 2020. The scale of additional subscription was 400 million yuan. As of the end of the reporting period, the total scale of the trust plan was 900 million yuan. The operation mode is closed and the planned period is 5 years.
In the same month of the same year, the "Barui No. 10" collective trust plan was established with a planned scale of 900 million yuan. It also adopts a closed-end operation, with a term of 5 years.
The funds of the two trust plans are both used to acquire the income rights of 100% of the equity of Wuhan Jielu Automobile Sales Service Co., Ltd. held by Wuhan Kangshun Automobile Service Co., Ltd., to supplement Kangshun Automobile Service's liquidity funds. At the same time, the guarantors of the above two trust plans are Lanhai Group, and the 1.8 billion trust funds are institutional investors and do not involve individual investors.
Tibet Trust stated in the risk warning that Minsheng Bank Wuhan Branch had a credit business for Kangshun Auto Services expired in July last year. Kangshun Auto Services provided real estate mortgage, with a mortgage value of 300 million yuan. Lanhai Group provided liquidity support for the credit.
However, due to the financial lending dispute involving the former two, Lanhai Group was sued, and its total equity of Shanghai Life Insurance Co., Ltd. of 213 million yuan was frozen. The freezing period will range from December 22, 2020 to December 21, 2023, totaling 1,094 days.
According to the guarantor's feedback, after the lawsuit was heard on March 3, the two parties had 2 months to mediate. At present, the two parties negotiated a settlement plan on related matters.
Tibet Trust stated that in the future, if the guarantor Lanhai Group experiences related adverse conditions due to asset restrictions, it will directly have an adverse impact on the guarantor's operating performance and debt repayment ability. In addition, since the guarantor Lanhai Group has recently involved many negative media reports, the client is reminded to pay attention to the risks related to media and institutional reports.
For the Tibetan trust risk warning book, "It may have an adverse impact on the repayment of this project", does it mean that there is a risk of default?
An unnamed trust industry insider told reporters that the risk warning is only a warning to inform investors of litigation involving the underlying assets, which does not mean that the trust product is a substantial default. "If the contract is truly breached, it will have a relatively negative impact on the reputation of the trust company and will be detrimental to the later business development."
Coincidentally, not long ago, Western Trust issued product risk warning announcements three times, involving a product scale of 3 billion. Behind the trust products that the two trust companies made risk warnings are Lanhai Group, which serves as the guarantors.
was once involved in Luckin's turmoil
It is reported that Tibet Trust was established in October 1991. It is originally named Tibet Autonomous Region Trust Investment Company. It is a non-bank financial institution established with the approval of the People's Government of the Tibet Autonomous Region and the People's Bank of China and controlled by the Finance Department of the Tibet Autonomous Region.
Tibet Trust shareholders are: the Tibet Autonomous Region Finance Department holds 89.43% of its shares, the Tibet Autonomous Region Investment Co., Ltd. holds 10.57% of its shares, and the actual controller is the Tibet Autonomous Region Finance Department.
According to the 2019 annual report data, Tibet Trust achieved operating income of 796 million yuan, a year-on-year increase of 64.8%, and a net profit of 491 million yuan, a year-on-year increase of 79.56%.
As of the end of 2019, the scale of managed trusts was 197.37 billion yuan, of which 38.51% and 32.21% of the industry and commercial enterprises and financial institutions accounted for 38.51% and 32.21% respectively. The real estate industry is the third distributed field, with an amount of 10.77 billion yuan, accounting for 5.46% of the trust scale.
It is worth noting that the Tibet trust industry has a small scale of assets managed in the industry and is located in the west, which rarely attracts attention, so it seems to be relatively low-key.
In April 2020, Tibet Trust was involved in Luckin Coffee fraud incident. At that time, Luckin Coffee and Tibet Trust had a loan of 300 million yuan, with a term of two years and an interest rate of 8%. Shortly after Luckin Coffee's "crash", the official website of Tibet Trust announced that Luckin Coffee had paid the principal of all trust loans of Tibet Trust, and Tibet Trust and Luckin Coffee have no existing creditor-debtor relationship.
At the beginning of this year, Chasong, general manager of Tibet Trust, who had been in the industry for nearly 10 years, submitted his resignation and resigned from the position of general manager of the department. After Chasong resigned, Zhou Guiqing, chairman of Tibet Trust, performed his duties as general manager and was fully responsible for the company's business management.
