Wang Wenyin, a Fortune 500 company and a former friend of Xu Jiayin, and chairman of Zhengwei Group, has recently attracted much attention, and he has been crowned the "World Copper King" and claims to hold copper ore resources worth 10 trillion yuan. Last year, Wang Wenyin claimed that the operating income of Zhengwei Group reached 600 billion yuan, of which the operating income of its subsidiary Authority Copper was close to 100 billion, becoming the mainstay of Zhengwei Group. However, it is surprising that Authority Copper suddenly stopped production all this year and is preparing to give employees a two-month long vacation. Even more suspicious is the fact that almost all of the leading copper executives have stepped down. What is the reason behind this?The economic downturn has led to a decrease in ordersThe cost of raw materials remains highAuthoritative Copper's financial problems?Wang Wenyin was forced to deal with it urgentlyThere has been no official response yet. It is understood that the main reason for the shutdown of authoritative copper may be poor management. According to relevant reports, authoritative copper has been producing intermittently since the beginning of this year, and production has been suspended from time to time. The reason for this shutdown may simply be a minor business problem due to a decrease in orders. As for the main reason for the suspension of production, it may be that Wang Wenyin is suspected of financial fraud. According to reports, Authoritative Copper claims that the factory covers an area of up to 600,000 square meters, but actual observation will show that "600,000 square meters" is only the size of a few factories, and a large part of it is undeveloped wasteland. Even in this authoritative copper factory, which claims to have a market value of 100 billion yuan, there are almost no large machinery and large-tonnage trucks. These circumstances have raised questions about the authenticity of authoritative copper production capacity and products. Not long ago, a number of suspected former employees of Authoritative Copper broke the news that the production capacity of Authoritative Copper is extremely low, and the reason for Wang Wenyin's claim may be just to obtain a loan. While these revelations need further research, people's skepticism is understandable.
Wang Wenyin once called himself the world's copper king and investment tycoon, claiming that he has mineral resources in more than 20 countries around the world, and also announced on the official ** of Zhengwei Group that the group's copper ore reserves exceed 30 million tons, with a total value of up to 10 trillion. However, what is doubted is which countries exactly these copper mines are located in and how much reserves there are in each country. Since 2013, Wang Wenyin has announced that he has invested globally, covering a wide range of sectors, including semiconductors, software and minerals. Although it seems to be a good investment on the surface, it is actually more like a pie, except for a wood mining project in the United States, everything else is only at the stage of investigation. After gaining the title of the world's copper king and investment tycoon, Wang Wenyin used these titles to find partners in China and acquire land in the name of building copper and semiconductor factories. These factories often bring tax revenue and jobs to the local area, so there is a rush to cooperate and offer preferential land policies. For example, Wang Wenyin spent 100 million yuan to buy 670,000 square meters of industrial land in Yichun City, mainly planning to build a copper factory, with a total investment of about 600 million yuan. There are many similar cases, with a total value estimated at more than 500 billion yuan. It should be noted that according to online rumors, there is also a part of the land that was mortgaged to Evergrande by Wang Wenyin, which means that Wang Wenyin obtained a sum of money from Evergrande. However, it should be noted that only residential land is mentioned here, and as for industrial land, most of it is still wasteland and has not been developed and utilized. It is precisely because of Evergrande's financial problems that Xu Jiayin's reputation has also been affected, and the shady curtain behind Wang Wenyin's business empire has gradually been revealed, and his claim of 600 billion output value and 10 trillion copper ore resources is nothing more than a lie woven into a falsehood.
Wang Wenyin is known as the "World Copper King" and the title of investment tycoon, but there are many doubts and doubts hidden under the name. He claims to have mineral resources in more than 20 countries around the world, and Zhengwei Group's copper reserves are as high as 30 million tons, with a total value of up to 10 trillion yuan. According to reports, Wang Wenyin has obtained a large amount of land across the country through various means in the past few years, and its value is estimated to have exceeded 500 billion. However, most of the industrial land is wasteland and has not been developed. With the collapse of Evergrande and Xu Jiayin, the shady curtain of Wang Wenyin's business empire gradually surfaced, and his claims about output value and mineral resources may be false. If these rumors are confirmed, then Wang Wenyin could face charges of alleged financial fraud. In this case, we need to wait further for an official response and further confirmation of the truth.