Committee of Inquiry Wirecard and the “Mastercard” from Commerzbank

As of: 06/09/2021 3:01 a.m.

The parliamentary groups’ final reports on the Wirecard committee of inquiry are almost ready. Nevertheless, the panel heard witnesses well into the night. It was about early information from Commerzbank. By Arne Meyer-Fünffinger and Josef Streule, BR When the Munich Chief Public Prosecutor Hildegard Bäumler-Hösl entered the “Europa Hall” in the Paul-Löbe-Haus, the Wirecard investigative committee had already spent almost nine hours of intensive witness questioning behind it. At this point in time, the committee had already questioned the head of the FIU anti-money laundering unit, Christof Schulte, and the State Secretary in the Federal Ministry of Finance, Rolf Bösinger – with unsurprising results. Both vigorously defended the work of the authority in connection with the Wirecard scandal. “We have no indications that the FIU would not have fulfilled its legal mandate,” emphasized Bösinger. The FIU has been standing for reporting from BR research for days again more and more criticized. In February 2019, Commerzbank submitted a detailed suspicious transaction report to the FIU – including a list of almost 350 suspicious transfers and a short report to make the FIU’s work easier. A reference to the allegations made against former Wirecard managers was not recognizable, explained Schulte and Bösinger. The FIU therefore only forwarded this suspicious activity report to the responsible criminal investigation authorities in Bavaria in July 2020, after seven foreign partner authorities had been sent “spontaneous information” in July 2019. Schulte emphasized that there has been no response from them to this day. And apart from that: “The Commerzbank report was by our standards not a particularly good report,” said the FIU boss.

Prosecutor: Commerzbank report was the “Mastercard”

The Munich public prosecutor’s witness, Chief Public Prosecutor Bäumler-Hösl, arranged the Commerzbank report completely differently when she was interrogated: “The major money laundering report from Commerzbank is the Mastercard. This is the most valuable and most extensive money laundering report. It is elementary. ” “That’s a statement,” said the committee chairman Kay Gottschalk (AfD) spontaneously. The lawyer also contradicted Bösinger and Schulte on a central point: Both had emphasized that Commerzbank’s suspicious transaction report had no reference to the German legal area. That is why the FIU did not forward this to the local authorities any faster. “What alarmed me about the report is the presentation of the facts by Commerzbank,” she said. This refers to the brief report that the bank added to the list of nearly 350 suspicious payments. In this and in the transfers listed by the Frankfurt money house, a relationship with Germany was clearly recognizable, Bäumler-Hösl made clear. With the fact that the report did not contain any reference to Germany, the FIU justified the fact that it had only informed the local authorities of this information more than a year and a half later. “All the reasons given by the Federal Ministry of Finance as to why the FIU did not initially have to pass on the suspicious transaction report have literally collapsed,” commented Florian Toncar (FDP) on the statement by the chief public prosecutor.

Wirecard suspicious activity report on a silver platter

Matthias Hauer (CDU / CSU) had already disagreed with the presentation of the FIU representative before the chief public prosecutor’s statement: “In my opinion, the silver platter is not enough, it must be made of gold.” Other experts had also classified the suspicious activity report from Commerzbank in the run-up to today’s testimony as a “silver platter” on which the bank had served the FIU with its information. The third witness in the Wirecard investigative committee, Rolf Bösinger, State Secretary in the Federal Ministry of Finance, countered the accusation that he had withheld information from parliament at an earlier point in time: “These accusations are untenable. I have neither withheld information nor do I have it There is nothing to hide or to conceal. We have informed the German Bundestag and the MPs comprehensively, “he said.

Accusation of “concealment”

These statements did not make an impression on every committee member. For Lisa Paus (Bündnis 90 / Die Grünen) they were “not credible”, Hans Michelbach (CDU / CSU) spoke of “veiling” by the ministry even after Bösinger had been questioned for several hours. BR research had previously reported on internal mail correspondence of the FIU, according to which Bösinger is said to have influenced a dossier of the FIU accordingly. This was drawn up by the authority on the occasion of a special meeting of the finance committee on August 31, 2020. The dossier was an internal preparatory document, stressed Bösinger in front of the members of the committee of inquiry. They will now focus on completing their final reports after months of work. Bundestag President Wolfgang Schäuble will probably receive a thick pile of papers at the end of this month.

Dr. Le Quoc Cuong, Deputy Director of Ho Chi Minh City Department of Information and Communications, said that Gate 1022 has been integrated on the Operation Center system of the city’s smart city. Photo: LE THOA It is ready to receive 24/7 feedback from the people about the COVID-19 epidemic situation related to Ho Chi Minh City. Accordingly, to send feedback to port 1022, people can do it by the following five methods: – Via the 1022 switchboard phone number – press 3. – Through the application “PBX 1022” (install the Mobile App on Android and iOS operating systems). – Via website: https://1022.tphcm.gov.vn. – Via email box (e-mail) at address: 1022@tphcm.gov.vn. – Via Facebook at: https://www.facebook.com/1022.tphcm.gov.vn The City Department of Information and Communications confirmed that port 1022 allows people to monitor the processing process; receive notification of processing results after completing troubleshooting. At the same time, people can compare the actual handling and continue to reflect back to the system in case the actual problem has not been handled or the quality has not been handled. Thus, the 1022 portal currently receives information in the fields of transport infrastructure, water supply and drainage, trees, lighting, urban order, electricity, telecommunications, public transport and even COVID. -19…

Compared with last year’s quarterly report, this year’s A-share listed companies’ quarterly report performance is generally expected to be happy. The reason is that, on the one hand, the base number last year was low, and it is very difficult for performance growth this year compared to the same period last year; on the other hand, the expected economic recovery this year has risen significantly, and the performance recovery of listed companies will also be significantly enhanced.

In fact, due to the special environmental impact in the first quarter of 2020, the data in the quarterly report of listed companies last year did not have much reference. For the market, it is more willing to conduct a comparative analysis with the quarterly report data of 2019. In reality, although many listed companies reported a substantial increase in the performance of this year’s quarterly report compared with the same period last year, there is still a gap compared with the 2019 quarterly report. In other words, if the performance of a listed company in the first quarter of this year is stronger than that of the first quarter of 2019, then for this listed company, the growth advantage is still relatively obvious. On the contrary, it may reflect that the profitability of listed companies is not strong. It is just that compared with the first quarterly report of 2020, there has been a repairable performance, and the performance of market prices will naturally be greatly reduced. As a result, this can explain the reason why some listed companies have announced their performance pre-history, but the capital market does not buy it.

In addition, there is also a phenomenon that the performance of listed companies is growing well. This year’s quarterly report not only increased significantly compared with the same period last year, but also showed signs of growth compared to the first quarterly report of 2019. However, judging from the price performance of the secondary market, it is still being sold off by market funds, which may be related to the high valuation factors of listed companies themselves. Or, in the context of intensified institutional grouping and disagreement, there is pressure for institutions to concentrate on selling.

Since February 18 this year, the A-share market has shown a trend of “killing valuations”, which is mainly concentrated on the white horse stocks in the A-share market. However, from the perspective of these white horse stocks that have been sold by institutions, they mainly have the characteristics of institutional grouping, high valuations and large previous increases. In contrast, blue-chip stocks with low valuations and small gains in the previous period did not show a significant downward trend, becoming the most stable listed company this year.

The white horse stock market’s “killing valuation” is largely related to the anticipated advancement of the inflection point of loose liquidity, which is also a manifestation of partial de-bubble. In addition, as the “anchor” for the valuation and pricing of global core assets, the yields of US 10-year Treasury bonds have soared, which has also accelerated the compression rate of the global core asset valuation premium.

As the white horse stocks occupying a higher weight in the market, this round of irrational decline in the market has a greater impact on the market index. However, due to the impact of many large blue chip stocks, the decline in the market index is not very significant. Since the beginning of this year, the Shanghai Stock Index has performed relatively well in the Shenzhen market.

A shares fell below 3400 points again, and the total trading volume of the Shanghai and Shenzhen markets shrank to less than 700 billion yuan, which shows that the investment sentiment in the market has dropped to a freezing point. As the market continues to shrink, it actually heralds that the market’s turning point is approaching. However, from another perspective, if the major A-share market indexes have fallen below the half-year line and the annual line, and the average daily trading volume of the Shanghai and Shenzhen markets has fallen below the level of 500 billion yuan, then the A-share market may be declared Step into the bear market again.

Over the years, the A-share market has often been characterized by a bull market for only three years and a bear market for only five years. Whether this market curse can be broken this time, there are still certain unknowns. However, according to the current valuation level of the A-share market and the analysis of the economic environment, the A-share market does not yet have the basis for entering a bear market again. Even according to the relatively weak trend, it is difficult for the A-share market to re-enact the unilateral decline in 2015 and 2018, and it is more likely to complete the process of turbulence and bottoming in the form of time for space.

From the overall analysis, although the decline of the market index will be relatively limited, judging from the rapid decline of the White Horse stock in the last two months, the market is more inclined to partially defoam, rather than defoaming and deleveraging. Market. Compared with 2019 and 2020, the A-share market in 2021 will look more dull, and the structural market has become the main tone of this year’s market.

However, with the experience and lessons learned from the deleveraging market in the second half of 2015, at the level of policy supervision, the attitude of the bull market in the financial market may be cautious. However, under the background of the comprehensive advancement of the registration system, the support of a continuous bull market environment is required. Therefore, from a policy perspective, I do not want the stock market to see a trend of ups and downs. It is more likely that I hope that A shares will go out of 2016 to 2017. Slow Bull Quotes of the Year.

Compared with last year’s quarterly report, this year’s A-share listed company’s quarterly report performance is generally expected to be happy. The reason is that, on the one hand, the base number last year was low, and it is very difficult for performance growth this year compared to the same period last year; on the other hand, the expected economic recovery this year has risen significantly, and the performance recovery of listed companies will also be significantly enhanced.

In fact, due to the special environmental impact in the first quarter of 2020, the data in the quarterly report of listed companies last year did not have much reference. For the market, it is more willing to conduct a comparative analysis with the quarterly report data of 2019. In reality, although many listed companies reported a substantial increase in the performance of this year’s quarterly report compared with the same period last year, there is still a gap compared with the 2019 quarterly report. In other words, if the performance of a listed company in the first quarter of this year is stronger than that of the first quarter of 2019, then for this listed company, the growth advantage is still relatively obvious. On the contrary, it may reflect that the profitability of listed companies is not strong. It is just that compared with the first quarter report of 2020, there has been a repairable performance, and the performance of market prices will naturally be greatly reduced. As a result, this can explain the reason why some listed companies have announced their performance announcements, but the capital market has not bought it.

In addition, there is also a phenomenon that the performance of listed companies is growing well. This year’s quarterly report has not only increased significantly compared with the same period last year, but also showed signs of growth compared with the first quarter of 2019. However, judging from the price performance of the secondary market, it is still being sold off by market funds, which may be related to the high valuation factors of listed companies themselves. Or, in the context of intensified institutional grouping and disagreement, there is pressure for institutions to concentrate on selling.

Since February 18 this year, the A-share market has shown a trend of “killing valuations”, which is mainly concentrated on the white horse stocks in the A-share market. However, from the perspective of these white horse stocks that have been sold by institutions, they mainly have the characteristics of institutional grouping, high valuations and large previous increases. In contrast, blue-chip stocks with low valuations and small gains in the previous period did not show a significant downward trend, becoming the most stable listed company this year.

The white horse stock market’s “killing valuation” is largely related to the anticipation of the inflection point of loose liquidity, which is also a manifestation of partial de-bubble. In addition, as the “anchor” for the valuation and pricing of global core assets, the yields of US 10-year Treasury bonds have soared, which has also accelerated the compression rate of the global core asset valuation premium.

As the white horse stocks occupying a higher weight in the market, this round of irrational decline in the market has a greater impact on the market index. However, due to the impact of many large blue chip stocks, the decline in the market index is not very significant. Since the beginning of this year, the Shanghai Stock Index has performed relatively well in the Shenzhen market.

A shares fell below 3400 points again, and the total trading volume of the Shanghai and Shenzhen markets shrank to less than 700 billion yuan, which shows that the investment sentiment in the market has dropped to a freezing point. As the market continues to shrink, it actually heralds that the market’s turning point is approaching. However, from another perspective, if the major A-share market indexes have fallen below the half-year line and the annual line, and the average daily trading volume of the Shanghai and Shenzhen markets has fallen below the level of 500 billion yuan, then the A-share market may be declared Step into the bear market again.

Over the years, the A-share market has often been characterized by a bull market for only three years and a bear market for only five years. Whether this market curse can be broken this time, there are still certain unknowns. However, according to the current valuation level of the A-share market and the analysis of the economic environment, the A-share market does not yet have the basis for entering a bear market again. Even according to the relatively weak trend, it is difficult for the A-share market to re-enact the unilateral decline in 2015 and 2018, and it is more likely to complete the process of turbulence and bottoming in the form of time for space.

From the overall analysis, although the decline of the market index will be relatively limited, judging from the rapid decline of the White Horse stock in the last two months, the market is more inclined to partially defoam, rather than defoaming and deleveraging. Market. Compared with 2019 and 2020, the A-share market in 2021 will look more dull, and the structural market has become the main tone of this year’s market.

However, with the experience and lessons learned from the deleveraging market in the second half of 2015, at the level of policy supervision, the attitude of the bull market in the financial market may be cautious. However, under the background of the comprehensive advancement of the registration system, the support of a continuous bull market environment is required. Therefore, from a policy perspective, I do not want the stock market to see a trend of ups and downs. It is more likely that I hope that A shares will go out of 2016 to 2017. Slow Bull Quotes of the Year.

The net profit attributable to Shengxiang Biological and other companies increased by more than 10 times

According to the data disclosed by Wind, among the 261 listed companies on the Sci-tech Innovation Board, 243 companies will achieve profitable net profits in 2020, accounting for about 93.1% of the number of companies on the Sci-tech Innovation Board.

According to Wind data, among the 243 sci-tech innovation board listed companies, 136 companies will achieve attributable net profit of more than 100 million yuan in 2020. Among them, 17 stocks such as Lanqi Technology, Trina Solar, Stone Technology, and Oriental Bio will be realized in 2020. The net profit attributable to over 1 billion yuan. Judging from the data disclosed by Wind, SMIC’s net profit attributable to 2020 will be approximately 4.332 billion yuan, ranking first in science and technology stocks in terms of profit.

The growth rate of attributable net profit is an important indicator to measure the growth and development capabilities of a company. According to Wind data, among the 243 companies listed on the Sci-tech Innovation Board with attributable net profits in 2020, 180 companies’ attributable net profits in 2020 will increase year-on-year. Among them, 29 stocks including Chipsea Technology, Haier Biotechnology, and Kingsoft Office will be The annual attributable net profit doubled year-on-year, and the attributable net profit of the four sci-tech innovation board listed companies of Shengxiang Bio, Shijia Photonics, Oriental Bio, and Zhijiang Bio will increase by more than 10 times in 2020.

The biggest increase is Shengxiang Biology. The data shows that in 2020, the attributable net profit of Shengxiang Bio will be approximately 2.617 billion yuan, a year-on-year increase of over 65 times. The attributable net profit of Shijia Photonics, Oriental Bio, and Zhijiang Bio will be 39 million yuan, 1.688 billion yuan, and 928 million yuan in 2020, respectively, representing a year-on-year increase of 2542.2%, 1956.37%, and 1701.53% respectively. From the perspective of Wind industry, Shengxiang Bio, Oriental Bio, and Zhijiang Bio are all medical and healthcare companies.

Wind statistics show that among the 243 listed companies on the Science and Technology Innovation Board, there are still many stocks that have seen a year-on-year decline in net profit attributable to 2020. Specifically, the net profit attributable to 24 shares in 2020 has declined by more than 30% year-on-year, including Espressif Technology, Minxin, Haohaishengke, etc. The net profit attributable to 5 stocks including Shin Kong Optoelectronics, Sino Medical, Nuohe Zhiyuan, Ruisheng Intelligent, and Tianyi Shangjia will drop by more than 50% in 2020.

The net profit attributable to 14 shares exceeded 100 million yuan

According to Wind data, there are 18 sci-tech innovation board listed companies in a state of loss in 2020 attributable net profits.

Specifically, among the 18 companies listed on the Science and Technology Innovation Board, 14 stocks will have attributable net profit losses exceeding 100 million yuan in 2020, including Qingyun Technology, Frontier Biology, and Zejing Pharmaceuticals.

The data disclosed by Wind shows that among the 18 sci-tech innovation board listed companies that have attributable net profit losses in 2020, Junshi Biologics has the largest amount of losses. The data shows that Junshi Bio will have a net profit loss of approximately 1.669 billion yuan in 2020.

It is understood that Junshi Biotech was listed on July 15, 2020 and is an innovation-driven biopharmaceutical company. Regarding the reason for the performance loss, Junshi Biotech stated that it was mainly because the company’s operating income could not fully cover the continuously increasing R&D investment in research projects and reserve R&D projects. Junshi Bio also stated that the company reserves a number of research projects in the early preclinical research stage, and the company will continue to invest in large-scale research and development in the future to complete preclinical research, clinical trials and preparations for new drugs. The company’s product pipeline research and development business, and the company’s new drug listing application and new drug market promotion will also incur high costs, which may lead to further expansion of the company’s losses.

After Junshi Biologics is Shenzhou Cell, the company’s attributable net profit loss in 2020 is about 713 million yuan.

It is worth mentioning that according to Wind data statistics, among the 18 sci-tech innovation board listed companies that have a net profit loss in 2020, 14 are companies with “U”, accounting for about the proportion of the number of companies with a net profit loss in 2020. 77.78%.

According to the industry to which Wind belongs, among the 18 sci-tech innovation board listed companies that will have a net profit loss in 2020, 9 companies including Junshi Bio, Shenzhou Cell, Biotech, and Kangsino belong to the healthcare industry. Qingyun Technology, Youke Six companies, including Deer, Cambrian, etc., belong to the information technology industry, while three companies, Funeng Technology, Eft, and Yihuatong, belong to the industrial field.

Song Qinghui, a well-known economist, believes that most of the companies with performance losses in the science and technology board stocks are biomedical innovation companies. From the perspective of the general development cycle, the large R&D investment before the product launches, and the situation of sustained losses or even no income in the short term is the inevitable pain for the growth of these companies.

4 shares are now listed for the first loss

It is worth noting that the 4 shares of You Kede, Funeng Technology, Sansheng Guojian, and Youfang Technology will usher in their first losses on the market.

Excluding the companies with “U”, among the 18 sci-tech innovation board listed companies with a net profit loss in 2020, Youqo will have the worst performance. According to the 2020 performance bulletin disclosed by Youkede, in 2020, Youkede realized operating income of approximately 2.466 billion yuan, a year-on-year increase of 62.79%; the corresponding realized net profit loss was approximately 341 million yuan, which turned from profit to loss year-on-year.

It is understood that Ukerde was listed on January 20, 2020. It is a third-party cloud computing service provider and one of the first companies to pass the certification of trusted cloud services. It adopts three modes: public cloud, private cloud, and hybrid cloud. Users provide services. This is also the first loss in the annual report of Ukde since its listing.

Regarding the specific reasons for the company’s 2020 attributable net profit loss, a relevant person of Youkede said in an interview with a reporter from Beijing Business Daily, “We are currently in the silent period of annual reports. The 2020 annual report will be issued on April 27. The matter will be explained in detail”.

In addition to You Kede, Funeng Technology, Sansheng Guojian, and Youfang Technology also experienced their first losses on the market. It is understood that Sansheng Guojian went public on July 22, 2020, and is mainly engaged in the research and development, production and sales of antibody drugs. The performance bulletin shows that Sansheng Guojian will have a net profit loss of about 200 million yuan in 2020. Before listing, 3SBio Group maintained its profitability in its performance. Data show that from 2017 to 2019, the attributable net profit of Sansheng Guojian was approximately 390 million yuan, 370 million yuan, and 230 million yuan, respectively.

Funeng Technology and Youfang Technology were listed on July 17, 2020 and January 23, 2020 respectively. The net profit attributable to Funeng Technology and Youfang Technology in 2020 will be approximately -316 million yuan and -69 million yuan, respectively.

Xu Xiaoheng, an investment and financing expert, said that investors should be cautious in investing in stocks that have “changed their faces” after listing.

Beijing Commercial Daily reporter Liu Fengru

In January this year, Chenghua District Bureau of Chengdu Public Security Bureau uncovered a new type of telecom network fraud under the guise of “members rate reservations for hotels nationwide.”

According to Xinhua News Agency, at the end of December 2020, Mr. Lu, a Chengdu citizen, booked a four-night room in a hotel in Shanghai through a seller who provided hotel reservation services on the Xianyu platform. The seller stated that the original price for the four nights was 5,000 yuan. It only costs 3300 yuan to book through him. After taking the photo, Mr. Lu provided the occupant’s information to the other party and contacted the hotel for verification. After confirming that it was correct, he clicked to confirm receipt. But when Mr. Lu went to Shanghai to check in, he was informed by the front desk of the hotel that the order had been cancelled. Mr. Lu tried to contact the seller again and found that he was blackmailed by the other party, and then realized that he had been cheated.

According to the “Statistical Report on National Star-rated Hotels in the Fourth Quarter of 2020” issued by the Ministry of Culture and Tourism, there are 9,717 star-rated hotels in the national star-rated hotel statistical management system in the fourth quarter of 2020, including 2,552 four-star hotels. There are 850 five-star hotels, accounting for 26.3% and 8.7% respectively. In addition, the average price of five-star hotels is as high as 523.27 yuan, and the average occupancy rate is 53.96%. Higher prices and vacancy rates have made some crooks smell business opportunities.

Jiemian News combed through the information on Black Cat Complaints, Zhihu, Weibo and other platforms and found that there are currently two main complaints from consumers about the reservation service of Xianyu Hotel. The first is Mr. Lu mentioned in the above report. In that way, the full payment was paid to the seller on Xianyu before the check-in, and the seller deducted the payment by himself and contacted the hotel to cancel the order. As a result, the consumer found that there was no room available when he arrived at the hotel.

Another situation is that consumers did not pay the room fee to the seller of Xianyu, but only paid a certain reservation fee, and the corresponding room fee was paid directly to the hotel upon check-in. Some of these consumers did pay the seller on behalf of the hotel. The booking was successfully checked in, but some orders were recognized as illegal operations by the hotel and could not be checked in.

The experience of a consumer on Weibo falls into this category. The consumer stated in his post that he had purchased the Conrad Hangzhou Hotel at a low price for two nights through the booking service, but he was questioned by the front desk when he checked in. “I followed the instructions provided by the seller to check in, but the hotel front desk said that I had encountered travelers cheating to check in with the same words before, which caused us to be very embarrassed, and finally failed to check in. We tried to find after being rejected by the hotel The seller claimed for the reservation fee, but found that it had been blocked by the seller.” The consumer wrote on Weibo.

So, where do the low-priced houses on the Xianyu platform come from? And why is there such a situation that “some passengers successfully checked in, while others failed to check in”?

“We will have some hotel sales agents on hand to sell us the negotiated price listings.” A seller who provides hotel reservation services on Xianyu revealed to the interface news. “After the buyer has provided the information, we will generally send the buyer a fake electronic version of the corporate name tag, or send the agreement number of the corresponding company to the buyer, so that the buyer will print it and show it to the hotel front desk when checking in. “The seller said so.

It is understood that the negotiated price means that some hotel sales agents specially sign an agreement with a large company or individual to agree that when the company’s guests or employees stay in the hotel, they can enjoy a preferential price. In this way, the hotel guarantees a certain occupancy rate and keeps the vacancy rate within a reasonable limit. It is generally lower than the listed price of the hotel. Some big companies such as Alibaba, JPMorgan Chase, IBM, etc. will sign an agreement with five-star hotels.

Take the Ritz-Carlton Nanjing as an example. During the period of 4.12-4.13, the price for ordinary travelers to stay in the hotel’s deluxe room is 1430 yuan, while the price for the same room type using Alibaba’s negotiated price is 1287 yuan. This one night produced a price difference of nearly 150 yuan.

The price difference of superior room types is even more disparity. Also on this night, the price for ordinary travelers to stay in a premium suite was 3480 yuan, while Alibaba’s negotiated price was only 3001 yuan, and the difference was nearly 500 yuan. This is not difficult to explain why most sellers on Xianyu provide reservation services only for top-level rooms such as executive suites or prestigious suites, and the resulting profit difference can be seen.

However, tourists staying in hotels through fraudulent use of negotiated prices are essentially an encroachment on the interests of the hotel. Xia Zifan, chief consultant of Lausanne Hotel Agency, said that the current hotel’s negotiated price leakage exists. If consumers book at the negotiated price, they must report the agreement number to the front desk when they check in. This is a common practice in hotels. However, it is inevitable that some unprofessional front desk staff did not identify well. This is also the reason that “some passengers will check in successfully, and some are told not to check in” mentioned above.

“This is actually a’risky activity’. Once the fraudulent agreement price is discovered by the front desk, you will definitely not be able to check in, and personal credibility will be affected. When I sell, I will inform the buyer that there is a risk of not being able to check in successfully, but As far as I know, other people rarely do this.” The above-mentioned idle fish seller told the interface reporter.

Xia Zifan also told Jiemian News: “It is still recommended that consumers book hotels through formal channels to avoid being unable to check in at that time.”

It is worth noting that the lack of qualification review of sellers on Xianyu platform and the inefficiency of handling user complaints have also caused dissatisfaction among some consumers.

A user posted on the Black Cat Complaint Platform that she saw a low-cost hotel booking on Xianyu platform called “Xia Chao’s Weightlifting Doll” on February 21, and she subsequently ordered it from the seller Orders. After contacting the hotel to confirm the information, she clicked to receive the goods, but then the hotel contacted her to pay again at the front desk. The user immediately filed a complaint to Xianyu’s official after realizing that she was deceived, but she found that the seller’s goods were still listed on the platform the day after she complained. “Xianyu platform has been allowing him to deceive without taking any measures.” The consumer wrote in the post.

Jiemian News tried to contact Xianyu regarding this incident, but has not received a response as of press time.

(Reporter Zheng Cuiying also contributed to this article.)