“Borrowed 40,000 yuan and got 28,000 yuan!” At this year’s March 15 party, CCTV News exposed the Tongcheng Financial app gift card routine.
complainant Xiao Li said that netizens came into contact with the Tongcheng Financial App and could borrow money. By purchasing its gift cards, they could recycle the money and turn it into cash. However, in actual operation, through the monetization channel on the Tongcheng Financial app, the gift card limit will be discounted by 94%. In addition, the gift card package purchased by the complainant also included various membership discount cards, high-speed rail VIP lounge coupons, airport VIP lounge coupons, etc. After the
program was broadcast, Tongcheng Financial’s WeChat applet and WeChat public account of the same name have been banned, and the “Tongcheng Financial” app has been removed from the shelves of multiple application malls. That night, Tongcheng Finance issued a statement on Weibo regarding CCTV’s March 15 party coverage.
It is understood that the operating entity of Tongcheng Financial app is Shanghai Lvji Technology Co., Ltd. , and Tongcheng Financial is affiliated to , a subsidiary of Tongcheng Digital.
Credit products operated by affiliated companies have been repeatedly exposed as involving "head-off interest"
Public information shows that Shanghai Yinlv Information Technology Services Co., Ltd. (Tongcheng Digits) was once named Shanghai Yinlv Financial Information Services Co., Ltd. In May 2020, the company name and business scope were changed.
From 2019 to 2020, the "Tongcheng Financial Services" operated by this company has been exposed for many times as being involved in "cutting off interest rates" and "super loan is suspected of diverting 714 anti-aircraft guns."
In 2019, The Paper quoted Sino-Singapore Jingwei as reporting that a borrower said that when he checked the high-speed rail timetable on the Tongcheng Travel App, he saw on the page "Travel in installments, withdraw money and depart" and "Travel with 0 down payment" and "Cash withdrawals available" "Wait, out of curiosity I tried to click on it to see if I could actually borrow cash.
According to the page operation prompts, the borrower entered personal information and borrowed 1,000 yuan on the "Money Travel" platform of the Tongcheng Travel app. Just when he was sighing that "it is true that borrowing money can be disbursed instantly," he received a message. According to this message, the borrower needed to repay 1,029.45 yuan a month, and a "loan speed-up package" of 199 yuan was also deducted. The
report pointed out that under the premise that the principal should be based on the actual amount spent by the platform, the interest charged by Tongcheng Travel has obviously exceeded the standards stipulated by the state, and is suspected of being a disguised form of "beheading interest."
In response to this, Tongcheng Financial Services stated that Tongcheng Financial Services does not engage in any bundling of sales, and users have the freedom to choose and select additional value-added services. Tongcheng Financial Services strictly abides by laws, regulations and policy requirements in the design of its Qianyou products, and always regards compliance as the first element of product design. "Our comprehensive annualized interest rate is controlled within 36%. When users borrow money, we have made clear reminders on the page."
△ Screenshot of self-collection complaint
The cumulative number of online small loans issued under the name of the general manager of the operating company has been Ranked No. 1 in Guangzhou
Public information shows that Shanghai Lvji Technology Co., Ltd. was established in December 2017. Its main business is the sales and agency sales of cultural tourism, entertainment and other related consumer rights products and digital 3C products. Finance is not involved.
Ye Nanxing, the legal representative of the company, serves as the executive director and general manager of the company and another "Guangzhou Firefly Small Loan Co., Ltd."
Guangzhou Firefly Microfinance Co., Ltd. was established in April 2016. Among the many companies associated with Ye Nanxing, this company is the only one involved in monetary financial services.
According to the Beijing News Shell Finance report, in August 2023, in the basic development situation and ranking of various indicators of Guangzhou small loan companies in the first half of 2023 released by the Guangzhou Small Loan Industry Association, Firefly Small Loan is located in the Guangzhou area. Ranked first in the cumulative number of Internet small loans issued.
In addition, the company’s wholly-owned shareholder is Guangzhou Lujin Technology Group Co., Ltd. According to the media, the largest shareholder of Guangzhou Lvjin Technology Group Co., Ltd. is Suzhou Tongcheng Lvjin Technology Co., Ltd., with a shareholding ratio of 55.14%.
Shanghai enforced the law overnight, and the public relations manager of the affiliated company still denied that the gift cards were disguised loans
In the CCTV March 15 party report, the reporter came to Tongcheng Digits as a consumer, and a person named Xu from the company’s public affairs department The manager told reporters:
"It is not a loan product, it is a normal e-commerce product."
"This gift package product is compliant and legal, and there are no problems."
"You can't use it (membership rights), why?" Want to buy? It must be legal and compliant. I can suggest you go to the police or complain to the local municipal supervision department.”
△ Staff from the Pudong New Area People’s Procuratorate entered the office of the person in charge of the company involved
According to Oriental.com, 15 At about 23:00 that night, a reporter from Oriental.com went downstairs to Tongcheng Digital Company, a company related to the app involved, and saw that a vehicle belonging to the Pudong Procuratorate had parked under the building. It is reported that the Pudong Procuratorate has entered the company involved to investigate.
In response to the content exposed at the March 15 party, a vice president of Tongcheng Digital said in an interview with the media: "I respect it, but I don't approve it."
The staff member denied whether the gift card was a disguised loan. She emphasized: "The sale of gift card packages is not a financial loan. The gift card package includes gift cards and related rights and interests. I just noticed the report that the user gave up his rights and interests and transferred part of the cash card because he was anxious to use money. To be honest, this may be because the customer is anxious to use money, so it is difficult to intervene in how the customer handles the matter."
At the same time, prosecutors from the Pudong New Area People's Procuratorate have also intervened in advance to conduct investigation and evidence collection.
Xiaoxiang Morning News reporter Wu Chen Xingzi comprehensive report
