According to news on June 27, the Qichacha APP shows that the Xining court will publicly hear the case of Mihayou and Lilith v. Minmetals Trust for “business trust disputes” on July 25.
According to the People’s Court of Chengzhong District, Xining City, Qinghai Province, the court is scheduled to openly hear Mihayou Technology (Shanghai) Co., Ltd. v. Minmetals International Trust Co., Ltd. in the fifteenth court of this court at 09:00 on July 25, 2022. The company’s “business trust dispute” case.
According to the temporary information disclosure announcement, the trust is used to acquire the creditor’s rights of accounts receivable held by Shenzhen Wushun Party to buy out the suppliers of Shimao Group’s project companies, and Shimao’s affiliates provide the debtor’s repayment obligations to make up the difference.
After the news came out, it caused a heated discussion among Weibo netizens. Netizens have expressed that they did not expect Mihayou to be cut with leeks. I would say that it is better to invest more in your own games than to invest with the money from the profits.
Some netizens said, I remember the year before or last year there were rumors that Mihayou was looking for financial management with more than 5 billion in cash (earned by Yuanshen), right? As a result, various private placements: “We also want to know how you make money.”
Minmetals Trust sued by Mihayou, over 2.3 billion wealth management products thunderstorm
In fact, the Minmetals Trust sued by Mihayou and Lilith is a subsidiary of the state-owned Minmetals Group. The company was established on October 8, 2010, registered in Xining City, Qinghai Province, with a registered capital of 13.051 billion yuan.
It is understood that Minmetals Trust Dingxing No. 1 to No. 15 products were sold by China Merchants Bank in violation of regulations and could not be redeemed after the expiration on March 30. The investment direction is real estate financing, and the minimum purchase threshold is 1 million yuan and 5 million yuan. The period is 18 months, and Tian Huiyu, the former president of China Merchants Bank, was dismissed.
In April this year, media reported that a number of Minmetals International Trust investors complained that the “Minmetals Trust-Dingxing No. 1 Collective Fund Trust Plan” they purchased through China Merchants Bank could not be redeemed after the expiration date on March 30. , the trust plan is suspected of thunderstorms, but no response has been received.
According to the statistics of 15 electronic contracts of Minmetals Trust Dingxing series products, the total scale of this series of trust products is 2.339 billion yuan. At present, all the products of Minmetals Trust Dingxing series have expired and cannot be paid normally.
Some people close to Minmetals Trust said that the funds involved in the product may have been invested in real estate projects, and it is more difficult for relevant investors to recover.
Times Weekly quoted a number of investors as saying that China Merchants Bank had many violations in the agency sales of Minmetals Trust Dingxing series products, including deliberately concealing trust product information, deliberately concealing investment risks, and lax risk control. Report to the China Banking and Insurance Regulatory Commission. In addition, Minmetals Trust and Shenzhen Wushun Fang have an equity relationship, but they have not disclosed relevant information. China Merchants Bank Beijing Branch has repeatedly refused to provide capital management reports.
In the past two years, there have been frequent explosions in real estate companies, and real estate trusts have also repeatedly encountered redemption risks.
The “Economic Observer” once reported that the real estate trust’s default scale in 2021 will reach 91.711 billion yuan, accounting for 61.34% of the total default scale. In addition to Minmetals Trust Dingxing products, Shimao Group has recently defaulted on other financial products. On June 20, Maoxiang No. 1, a product directly sold by Zhongcheng Trust and Shimao Group, defaulted and did not pay interest.
According to the data, the “Minmetals Trust-Dingxing No. 1 Collective Fund Trust Plan” was established on March 30, 2021. In the following two months, Minmetals Trust Dingxing series products were successively established, and the product period was 12 months. Among them, Dingxing No. 12-15 was established on June 18, 2021, and the product expiration date is June 18, 2022. In addition, the investment direction of Minmetals Trust Dingxing series products is real estate financing products, and the performance comparison benchmark is 5.80%, which belongs to R3 medium-risk products.
Mihayou was once rumored to be holding 5 billion in cash to seek fund management
Leifeng.com learned that in March last year, Fengjing Capital Wu Yuefeng posted on the Weibo platform that a game company in Shanghai was holding 5 billion yuan in cash and was looking for someone to help with fund management.
With 5 billion cash in hand and a game company located in Shanghai, netizens have speculated that it is Mihayou, which has a large number of fans of the “Genshin Impact” and “Honkai” series players.
However, former Guojin Media analyst Pei Pei said on Weibo: “This Shanghai game company should not be Mihayou.” In addition, industry insiders also said that the company that is seeking investment with 5 billion cash is not Mihayou.
Although the news has not been confirmed or responded by Mihayou, the industry has always seen Mihayou’s crazy ability to attract money in recent years.
Also in March last year, Cai Haoyu, the co-founder and president of Mihayou, who rarely makes public appearances, said in public that Mihayou’s revenue in 2020 has exceeded 5 billion yuan, doubling its revenue year-on-year, and the company’s scale has reached 2,400. people, an increase of 1,000 people compared to 2019.
In March of the same year, the 21st Century Business Herald stated that some people in the investment industry said that Mihayou had 5 billion yuan in cash and was looking for a backdoor listing opportunity. The person said: Mihayou and Lilith have always wanted to go public. The company could not IPO, so both ended in failure.
It is reported that Yuanshen was officially launched on September 28, 2020, and the global revenue in the first month was 245 million US dollars, sweeping the top ios best-selling list in various countries. In 2020, with the game “Yuan Shen”, Mihayou earned a net profit of more than 5 billion yuan in less than half a year.
In March 2021, Genshin Impact became the most profitable game overseas with a monthly revenue of US$100 million. Mihayou has also become the highest-grossing game company in the world (excluding the Chinese market), leaving Tencent and NetEase behind.
It is reported that a single “Yuan Shen” will contribute more than 15 billion running water to Mihayou in 2021.
According to the financial report data, in the first half of 2017, Mihayou’s operating income was 587.9 million yuan, and its net profit was 447 million yuan. In 2016, the operating income was 424 million yuan and the net profit was 272 million yuan. Similar to most game companies, Mihayou has a very high gross profit margin. From 2014 to the first half of 2017, the company’s gross profit margins reached 80.83%, 93.85%, 95.08%, and 96.86%, respectively.
In addition, public data shows that Mihayou’s annual revenue in 2021 will be about 32.854 billion yuan, and its net profit will be 18.540 billion yuan.
In 2022, China’s “New Fortune 500 Rich List” will be released, and the three founders of Mihayou will all be on the list: Cai Haoyu, Liu Wei and Luo Yuhao, with net worths of 55.35 billion yuan, 30.51 billion yuan and 28.89 billion yuan respectively, ranking 73rd, 145th bits, 157 bits. In addition, Cai Haoyu also became the new richest man in Jinan, Shandong with Mihayou.
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