Zhongzhi Enterprise Group is a leading financial management group in China.
To thoroughly investigate the case, recover stolen assets and compensate for losses, Chaoyang District Police under Beijing Public Security (China) requested investors to cooperate and provide relevant information and evidence.
The police also took legal action against suspects from ZEG's asset management company.
According to its official website, ZEG holds shares or controls a series of licensed financial institutions, including Zhongrong International Trust, Hengqin Life, Hengbang Property Insurance Co, and Tang Wealth Investment Management Co.
The local police announcement came days after ZEG, one of China's largest financial management groups, warned that it was facing a severe capital shortage, leading to a loss of liquidity and facing existential risks.
According to the content of ZEG's letter to investors published by China Daily on November 23, ZEG's total assets are about 200 billion yuan (about 28 billion USD), while total liabilities range from 420 billion to 460 billion yuan.
ZEG's leadership has made efforts to adjust its organizational structure and related mechanisms, as well as implement self-rescue measures. However, the results have not been as expected.
Preliminary assessment results show that, based on the current financial situation, ZEG is seriously insolvent.
According to information on the official ZEG website, the group was originally founded as Heilongjiang Zhongzhi Enterprise Group Co in 1995. In 1999, the company underwent restructuring and changed its name to ZEG.
Since 2001, ZEG has been engaged in the financial sector and business development in the real estate industry. In 2002, the group began expanding its operations into trust funds and is now a Beijing-based asset management group.
In recent years, even as business rivals faced risks, ZEG and its subsidiaries, including Zhongrong International Trust, continued to finance troubled property developers and acquire assets of companies including China Evergrande.
Source link
![[Photo] National Assembly Chairman Tran Thanh Man visits Vietnamese Heroic Mother Ta Thi Tran](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/7/20/765c0bd057dd44ad83ab89fe0255b783)
Comment (0)