Ping An Trust Apologizes for Delayed Redemption of Investment Product
In a recent turn of events, Ping An Trust has issued an apology to its customers for the delayed redemption of one of its investment products. The “Ping An Trust Funing No. 615 Collective Fund Trust Plan” has come under scrutiny due to poor sales of the real estate project it invested in, resulting in difficulties in fund recovery.
The trust plan, with a scale of approximately 770 million yuan, invested in a real estate project by Zhenrong Real Estate in Xiamen. However, the current sales of the project have been disappointing, leading to delays in payment and redemption for investors.
In response to the situation, Ping An Trust has taken proactive steps to address the issue. The company has filed a lawsuit against the repurchase obligor, Zhenrong, and is actively working towards project disposal to recover funds for investors. Despite the challenges faced, Ping An Trust remains committed to maximizing the interests of its investors and ensuring the stability of its operations.
It has been revealed that Ping An Trust is exploring various options for resolving the situation, including seeking sales proceeds from the project, legal recourse against Zhenrong, and finding a third party to transfer trust shares. While progress is being made, the disposal process is expected to take some time to complete.
The trust plan, established in September 2021, raised funds to invest in the equity of a real estate project in Xiamen. However, due to the current real estate market conditions, sales of the project have fallen short of expectations, leading to challenges in fund recovery. Ping An Trust has assured investors that it is working diligently to address the issue and ensure a favorable outcome for all parties involved.
As the situation unfolds, investors are advised to exercise caution and stay informed about the developments related to the Ping An Trust Funing No. 615 Collective Fund Trust Plan. Ping An Trust continues to uphold its commitment to transparency and accountability in its operations, and remains dedicated to delivering value to its investors.