Photo source: Visual China
The Pudong Zhangjianghui Mansion, which is close to the Outer Ring Road, is rarely as lively as it is today.
On the evening of May 9, news of the private equity Ruifengda running away went viral in the industry. The news said that investors were no longer able to redeem it. Blue Whale News learned on the scene that investors are unable to redeem their funds not only Ruifengda, but also Riying Holdings in Building 8 of Tongzaihui Mansion.
“We bought Riying's private equity, not Ruifunda. I found out last night that I couldn't withdraw my money, so I arrived from Hong Kong today.” At 3 p.m. on May 10, two investors hurriedly arrived at the office area of Riying Holdings, but the building was empty at this point. According to the investors mentioned above, the referrer promised capital protection benefits at the time of the initial purchase, and even if they lose money, Riying can make up for it.
Judging from the situation on site, most investors are Ruifengda buyers. An institutional investor from a brokerage firm told Blue Whale News that there are too many institutional investors, such as Ruifengda's private equity products, brokerage asset management, etc., as well as individual investors, and even Ruifengda's own employees. “We bought 40 million yuan. Currently, there are at least 60 people defending our rights. The amount of money involved is huge. We can definitely file a case. Now let's see what the public security authorities say.”
“This morning (May 10), many people arrived. There were people of all ages, and some were still crouching and crying in the neighborhood.” According to several property security personnel at the scene, on the evening of May 9, human rights activists came one after another. On the morning of May 10, human rights activists poured in. In the afternoon, the investigation detachment of the Shanghai Pudong branch intervened and sealed the office. Office workers from Riying and Ruifengda were taken away one after another, and the office building personnel were simply unable to enter.
A notice was posted on the first floor of Building 8 of Huigongguan, “If you have any matters relating to Zhejiang Ruifengda's asset management investment disputes, please go directly to the Pudong Economic Investigation Detachment for consultation and handling! The Economic Investigation Detachment has now intervened in the closed investigation.”
According to a property staff member, Building 8 of Huigong Building is relatively deserted, and there aren't many employees. Investors come to the door to defend their rights all year round, and the police used to come, but not so many people and police cars today. Although renting an entire luxurious French garden building, Riying Holdings did not use the security services provided by the property. “Their security and cleaning are all done by themselves, so the property doesn't need to pump fuel and water inside.” An introduction to the above property personnel.
Huigong Building No. 8 is a French garden house. It is very luxurious both on the outside and inside. It is also the office location of two asset management agencies, Riying and Ruifengda, registered with the China Foundation Association. These two asset management institutions are inextricably linked: not only are their offices located next to each other, but both companies also have the same registered phone number and email address. Seventy-five companies use this registered call, and nearly 30% of them are related to RiWin in terms of name.
According to reports, Riying invests in private equity, that is, investing in the primary market, while Ruifengda is a second-tier private placement. According to the official website of the China Foundation Association, Riying Holdings' wholly-owned private equity investment fund, was established in March 2015, with a management scale of 1-2 billion yuan. The operating business is private equity investment funds, private equity investment FOF funds, venture capital funds, and venture capital FOF funds; Ruifengda Asset Management was established in October 2016, with a management scale of 2 billion to 5 billion yuan.
According to media reports, the two companies are suspected to be “husband and wife stores.” Sun Wei, the actual controller of Ruifengda's assets, and the actual manager of Riying Holdings are husband and wife. However, according to Tianyan Research, the actual controller behind the Shanghai Qingcheng Cultural Club, which holds 49% of Ruifengda's assets, is indeed Riying Holdings.
Ruifunda currently has a total of 68 products in operation, and some of its results are remarkable. According to the private equity ranking network, as of April 30, Ruifengda Shirui 1, which was founded in April 2022, has accumulated revenue of 795.43%. In January 2024, this product also became the winner of the private equity ranking network's 2 billion to 5 billion yuan subjective multi-product revenue list. Among the top ten funds with subjective long returns of 2 to 50 billion dollars in the first quarter, Ruifengda Shirui No. 2 and Ruifengda Jinxiu No. 7 were selected.
Ruifengda has traded a number of new third-tier stocks in the secondary market, and the market value in circulation generally does not exceed 500 million yuan, including Sai Rongxin (834466.NQ), Youlian Shengye (872262.NQ), and Farmer Technology (872293.NQ).
Blue Whale News obtained a copy of Ruifengda's 2023 briefing document from the industry, which states that the company's current management scale is 3 billion yuan, and the management scale is expected to exceed 10 billion yuan within the next 1-2 years. The company's fund manager team consists of 12 people. One of them is named Shangguan Lijun. According to reports, he is a private quantitative investor and has no experience in institutional work.
The company's official website address in the file cannot currently be opened.
In its 2023 profile, Ruifengda stated that the company has a complete risk control system
Building 8, Huiji Mansion, the registered office of China Foundation Association Shangriying Holdings and Ruifengda