1. One cake of Pu’er tea sold for 60 million?

   According to the Beijing News, who has been playing Dayi Tea for more than a year, Luo Hao’s WeChat group can see some information about Dayi Tea’s needs from time to time. “22,000 urgently find a prosperous world”, “52,000 give a few mentions of Yiyouhui intact rat loose bucket”, “34,300 find a mature cow for 10 days”.

   The above pieces of information, “Wang Shi”, “Mouse”, and “Cooked Niu” are all corresponding to different Dayi tea product models. “22000”, “52000”, and “34300” refer to the expected transaction price. Product prices range from tens of thousands to tens of millions.

   Dayi tea is a Pu’er tea product produced by Menghai Tea Factory in Yunnan. Under the increasingly fierce hype, some Dayi tea products with an ex-factory price of more than 10,000 have risen to more than 100,000 a year later. At present, the price of a 2003 “Banzhang Six-Star Peacock Green Cake” in the industry has reached 65 million yuan per piece.

   The Beijing News Shell Finance reporter found that as early as 2007, the Dayi tea hype had experienced a bubble burst, and countless people instantly went bankrupt. In March 2021, due to the skyrocketing price of Dayi tea, futures speculators were sentenced to a compensation of 40 million yuan for being unable to pay for the goods. Driven by many investors, distributors, and trading platforms, Dayi Tea is staged another round of “the tea market is also crazy.”

   

2. How should we look at the sky-high tea?

To be honest, seeing this sky-high price of tea, many times I think it is something that is expected. In recent years, the price of Pu’er tea can be said to have risen. A cake of Pu’er tea cake has almost been sold at a sky-high price. So what should we do? What do you think?

First of all, from an objective point of view, the collection of Pu’er tea can have such a high market value. This is because Pu’er tea is similar to Moutai in a sense, and the shelf life between the two The concept is relatively vague. For Pu’er tea, because there is a process of gradually aging from raw tea to mature tea, there is also a saying that Pu’er tea is more fragrant as it ages, so look at Pu’er tea from this perspective. It also has a similar effect to Moutai, which is why Pu’er tea can be collected in the market, because many tea customers who are very familiar with Pu’er tea will think that Pu’er tea should be put in more to make it taste better. This is one source of Pu’er tea forming the collection market.

Secondly, let’s look at it again. Because the annual output of Pu-erh tea is relatively limited, especially high-quality Pu-erh tea. For example, the Dayi tea mentioned in the previous article is a very famous Pu-erh tea trade name. The quantity of Pu-erh tea produced from Pu-erh tea is relatively limited, and the number of stored Pu-erh teas will definitely be less and less every year, because there will definitely be Pu-erh tea that will be drunk, so it is also promoted under such circumstances. The price of the entire Pu’er tea speculation has risen.

Third, from the perspective of the entire market, due to the abnormal price increase of Pu’er tea in recent years, Pu’er tea has actually become a financial product, and its financial attributes have far exceeded its normal attributes. Under such circumstances, the entire Pu’er tea market has become a market for spreading flowers by drumming. In this market for spreading flowers by drumming, most people want to make money by hyping Pu’er tea. The number of people who really drink tea is relatively limited, so The bubble of Pu’er tea is blown more and more.

Fourth, from the perspective of the entire market, Pu’er tea is just a kind of tea, it is a consumer product that is drunk, so this so-called high price is, in a sense, a pure bubble, and everyone is in Playing the game of drumming and spreading flowers, no one thinks that he is the last picker, but once the market becomes so crazy, the market will inevitably rise and fall. If the bubble bursts, the final pick is to buy Pu’er tea. Those who take the plate.

Jia Yueting was banned from entering the securities market for life.

Financial fraud has set a record for 10 consecutive years, and a personal fine of 241 million yuan has also set a record. There are false records in the submitted and disclosed IPO-related documents, the non-public issuance of stocks constitutes a fraudulent issuance, and Jia Yueting has been banned from the securities market for life. News 1+1 tonight connects with Ye Lin, the director of the Civil and Commercial Law Department of Renmin University of China, together Attention: Can Jia Yueting get back with a high-priced ticket and a lifetime ban?

Ten years of financial fraud, Jia Yueting was fined 241 million

LeTV’s financial fraud over the past ten years, LeTV, Jia Yueting, etc. have five illegal facts, LeTV’s company was fined 240 million yuan in total, and Jia Yueting was fined 241 million yuan.

There are “five crimes” in LeTV, Jia Yueting, etc., and fraudulent registration and false statements are the worst

Ye Lin, Director of the Civil and Commercial Law Teaching and Research Office of Renmin University of China: I think the worst is fraud. Because the fraud situation in the securities market is actually very serious in recent years, the cases discovered after investigation should be intensified. Therefore, I think that among all the “five sins”, the most core is the fraudulent registration and fraud. Statement, this is the most important.

What impact did LeTV and Jia Yueting’s “falsification” have on the securities market?

Ye Lin, Director of the Civil and Commercial Law Teaching and Research Office of Renmin University of China: The most direct consequence is that investors have lost a lot of money, because everyone may buy these stocks at a very high price. After the Dongchuang incident was revealed, the price of the stock dropped sharply. Naturally, investors suffered huge losses. Our confidence in the securities market will be affected to some extent, because we always hope that this market is highly transparent and can achieve fair protection for investors. However, these counterfeiters or misrepresenters have caused investors to have a strong impact on the market. Some kind of worry. And if this concern extends, it may have a very negative impact on the healthy development of our future securities market.

There are administrative penalties for LeTV. Can investors initiate litigation for claims?

Ye Lin, Director of the Civil and Commercial Law Teaching and Research Office of Renmin University of China: I think the feasibility is very high. ① Regardless of whether it is in accordance with the old law or the new law, the probability of investors filing a lawsuit should be said to have greatly increased. ② The current administrative penalties provide convenience for many investors to initiate civil lawsuits. If investors filed a lawsuit, they do not need to prove that Jia Yueting and LeTV have false statements, because these have been identified, and what they may need to do further is the calculation of losses and the confirmation of causality. Through some of these methods, I think investors should be able to get compensation in a certain sense, and help to improve investors’ confidence in the securities market.

After the administrative punishment, will Jia Yueting and others be held criminally responsible?

Ye Lin, Director of the Civil and Commercial Law Teaching and Research Office of Renmin University of China: There may be criminal liability, because Jia Yueting himself is not in China now, and may be abroad. In this case, it may be necessary to assist the judicial authority of the country where Jia Yueting is located to see if he can return. Another way is to request the International Criminal Police Organization, or the International Criminal Police Organization to cooperate to bring the parties or criminal suspects back to the country. This is very difficult, but it is still feasible from the current legal mechanism. If he can be brought back to China, I believe that criminal proceedings in the country may be launched. This case is indeed a very typical case. There are various fraudulent behaviors. Therefore, the criminal charges that may be triggered are not limited to one, and there may be multiple charges. So if it can be dealt with in a criminal manner in the end, I believe it will indeed bring a textbook case to the capital market or the securities market, which is very meaningful.

LeTV began to falsify before it went public, causing fraudulent issuance. What enlightenment does this bring to regulation?

Ye Lin, Director of the Civil and Commercial Law Teaching and Research Office of Renmin University of China: During the securities issuance process in recent years, a series of reforms are being carried out, including the reform of the registration system. The fraud uncovered in the Jia Yueting case actually raises a new problem, that is, whether it is the approval system or the registration system, in the IPO stage—new share issuance or initial public offering stage, stronger measures should be taken to ensure that the issuer The information published is true, accurate and complete. If the first pass falls below, it may be a catastrophe for investors in the entire capital market, or the loss will be very huge. Therefore, no matter what kind of review system is adopted, it is the most important thing to work hard to ensure that the information published by the issuer is true, accurate, and complete.

(The original title is “News 1+1丨The sky-high price ticket, life-long ban, can Jia Yueting come back?”)

(This article is from The Paper. For more original information, please download the “The Paper” APP)