Equity Crowdfunding "Grace energy" projects fraud krypton 36 said it was accountable

Recently, because of "Grace energy" projects suspected fraud, 36 krypton equity crowdfunding platform brought to play Frozen Games the public air. For the market questioned, 36 krypton emergency response that is actively accountability of the parties, and may try to recover losses of investors. Although Grace energy event only case, but this event is a reflection of the development of equity crowdfunding many problems exist in the industry. Investors in addition to continuous trial and error and learning on the Internet this innovative financial markets, regulatory policies are more eager to follow up in a timely manner, so as to better protect the interests of investors. event Krypton 36 alleged false propaganda June 3, the media published the article said, "Grace Energy" Project Finance 36 Krypton equity crowdfunding platform suspected data fraud. Beijing Times reporter learned that Grace is 36 energy projects krypton equity crowdfunding platform for the first time to participate in three new board placement project attempt at the end of last year, Grace Energy announced private placement 600 million shares at a price per share of $ 10, raised a total of capital 60 million yuan, of which 30 million yuan will be the amount of the subscription on 36 krypton equity crowdfunding platform, the threshold is 100 million. However, the Annual Report 2015 has forced investors to the recent disclosure of Grace Energy is very disturbing, the report shows, the company actually has been plunged into a loss situation. 2015, the Company achieved an operating profit -3362.01 million; net profit -2676.06 million. Therefore, investing in people 36 krypton equity crowdfunding platform also raised question four: First, why the project from the initial announcement of the "private placement" to "old stock transfer"; the second is whether the project management information through false packaging; Third, krypton 36 commitments subscribed 10 million shares but no later; Fourth, the alleged existence of krypton 36 "prop up", encouraging investors to subscribe for projects. Reporters learned from the krypton 36, after the incident came to light, Krypton 36 has taken relevant action. 36 Krypton in a statement admitted that the project has been noted before party performance prediction, the data provided with the actual serious discrepancies with company executives made solemn representations. 36 krypton, said Rong was passed Beijing law firm, formally Grace energy made quickly, asking them to bear the responsibility, and try to restore investor's potential loss. analysis Equity crowdfunding platform chaos There equity crowdfunding practitioners told reporters, in the promotion of the platform there may indeed suspected excessive packaging, but it is actually common in the industry, investors need to polish his eyes, to improve resolution. "Financial institutions when selling financial products will be packaged and publicity, but also risk warning, which in China is actually a process requires investor education," the source said. Specific to the incident energy Grace, another equity crowdfunding platform executive told reporters: "If it does not exist 'Equity Offering' becomes 'old stock transfer', also depends on the people involved in this investment whether the investment in doing before the investment decision, fully understand and agree with their wishes play Barbie Cooking Games for this variable, if investors before the funds transfer information is learned issuance of new shares, and that the funds in the investment funds allocated for the old shares after the sale. that platform there must be a problem, at least not truthfully disclose information about the project. As to investors represents 10 million has been put inside and then not honored, it also depends on whether the individual actually express this meaning is to represent the meaning of the expression platform side. " the executives believe that this obvious case of walking a fine line approach should not be a compliant and professional services that some behavior in equity investment and financing activities of a neutral platform, at least the presence of defects at the moral level. However, Wang Chao, vice president of krypton 36, said about the issuance of new shares into the old shares for sale, and for this reason all the time investors have to communicate, also made the same. Since these shares are completed in February delivery, Wang Chao pointed out that investment has not objected to the delivery instructions have been completed, the investor for the entire transaction, are recognized. However, in the false performance issues, he told reporters the industry generally believe that the platform really need to take responsibility in this regard. However, investment pot, CEO Zhao Yanyu told reporters false information results exist regarding project promotion, which is more difficult to identify responsibility, because there is no law specifically publishing platform party financing projects whether due information verification obligations, it is difficult to say whether the platform responsible for the project to be disclosed false information, but one thing we can see is the platform of the party not the substance of the information submitted by the project review and due diligence platform square Independence, this area also has its own practices in the various platforms, so this also fully exposed the current equity crowdfunding platform operating items chaos. status quo Industry risk gradually exposed Crowdfunding as an important branch of Internet banking in the country has developed rapidly in recent years, according to Zero One data center statistics, as of the end of the first quarter of 2016, China's Internet crowdfunding platform has at least 399, which relates to the equity crowdfunding crowdfunding More than half of the platform. In fact, since 2011, after landing in the domestic equity crowdfunding quickly favored by capital from various quarters, the number of platforms showing explosive growth, but with the increasing number of platforms, issues of equity crowdfunding industry is gradually exposed previously there have been disagreements as investors and failed crowdfunding coffee case, after the failure of financial fraud and other cases have also occurred. Zero One data center, according to statistics, as of the end of the first quarter of 2016, the 399 Internet crowdfunding platform, there are 132 outage, closure or restructuring, accounting for 33.1% of the overall number. The risk of equity crowdfunding platform, it is repeatedly regulators concerned about the end of May, Commission Vice Fang Street while attending the forum pointed out that the focus of the market judged the situation and potential risks, financial risks rectification grasp the Internet , regulate the Internet equity financing, risk prevention in the field of private equity, and other equity crowdfunding. Recently, the Commission Vice-Chairman Jiang Yang at the Lujiazui Forum said that the current basis to maintain the smooth operation of the market, regulate the Internet equity financing activities to prevent risks of private equity funds, equity crowdfunding and other areas. Plight Equity crowdfunding platform positioning is not clear After five years of development, equity crowdfunding is still in infancy, in the development process, many problems by legal status is not clear, the business model is not clear and other problems, of which, how to locate the platform is also an important dilemma. In order to avoid risks, many platforms to position itself as information intermediaries, rather than a credit intermediary. Ying Chan consulting industry researcher Chen Zhi told reporters: "I think as an equity crowdfunding platform, it should be positioning itself as 'pure information platform', if both the referee and an athlete, it is easy about to investor decision-making." Chen Zhi said that while equity crowdfunding really is an investment behavior, the investment should pay for their own decision, but if the platform or false information on the project review is not strict, according to investors 'false information' investment decisions, the platform must to take responsibility. 36 Krypton founder Liu admitted into the city, there is a certain responsibility platform, he said, "sort out the whole process, although the industry is not mature enough, information disclosure rules and responsibilities participants defined the lack of extrinsic reasons, but our own responsibility platform also inescapable. " As an industry participant, crowdfunding platform investment pot, CEO Zhaoyan Yu told reporters, as for the non-professional investors, venture capital projects open participatory rights of the majority of the equity crowdfunding platform to stand on objective and neutral stance and reasonable disclosure of project-based risk , as well as project information reciprocity, communication and connection of both the investment and financing, and not from its neutral role, especially in the equity crowdfunding this new thing just rise in the country at this stage, most of the investment involved in the project investment people do not have any equity investment experience of white investors. "Although the major platform has its own prevention and control system and project selection mechanism, but I personally think, too early or angel stages of the project, is not suitable for equity crowdfunding in the field of fund-raising, but not optimistic about the so-called 'Everyone do angels' investment logic, so I think the platform of choice for the play Angela Games project must first clear the main investor positioning and control of wind projects targeting matches. "Zhao Yanyu said. Outlook Expect more-regulated industry Chen Zhi said that equity crowdfunding some risks must be well regulated to healthy development. For example, the platform should as far as possible the transparency of information, which currently belongs to a regulatory gap, with the future introduction of regulatory rules, non-compliance of the platform will be eliminated to avoid or reduce the likelihood of illegal fund-raising platform. For investors, the project review mechanism does not have a standardized platform for project financing submitted by the right to review, in this part of the environmental review or audit whether staff are lack of appropriate oversight and transparency. Investors in the investment project, not blindly believe the propaganda of the project, many research should own, or in addition to select some well-known historical credibility good platform for investment, eventually landing the needs of future regulation, increase specification efforts. Zhao Yanyu said that the current equity crowdfunding platform in the country can only be considered the early development of the state, from the value of the business model to the platform will need more time to verify, with the development of the industry, does not have the investment skills, product innovation does not have the force of public chip platform will gradually be eliminated, and counterattack to seize the two core elements of a small platform, crowdfunding is bound to usher in the spring. Chen Zhi believes that the current Jingdong, Ali, Suning, Baidu, 360, millet and other Internet giants began to layout all equity crowdfunding, their strong strength and resources is unmatched by other platforms, but giant platform is far unable to cover all the needs of , small platform next is still a large living space, should make better use of their regional resources, and then the vertical segments of their business, specializing in the field of a category, such as vertical equity shops do consumer financing, tech equity financing or equity financing game development class and so on. Wind may attempt to block chain control technology Law School of Renmin University of China Yang said the Internet in private equity financing as one of the forms of new Internet banking, still in the early stages of their development, detours are inevitable. Of course, this incident also proved that the traditional model of due diligence is not one hundred percent reliable, Internet banking with the new technologies must actively strengthen risk control to prevent fraud. Block chain technology is a worthwhile direction. Yang said block chain is essentially a decentralized distributed books database, the block chain itself is actually a string using cryptography data associated with the block generated before each new block of data contained in the transaction All historical information. Block chain to create a decentralized structure of the books, adding the block chain nodes each crowdfunding platform parties involved in the construction and maintenance of such a books, any transaction platform party subject to confirmation and synchronized to a single node node involvement other crowdfunding play Dora Games platforms. This ensures that transactions on the crowdfunding platform once write block chain can not be tampered with, historical transaction information can be tracked, thereby increasing the credibility of the platform side information and transparency of the market. The event, Grace is the use of energy trading transactions and opaque process of information asymmetry between the two sides conducted a fraud, all transaction information if Grace energy occurred in the past can be broadcast to the entire network in the block chain network, Grace to conceal the real situation may be fraudulent energy does not exist.