安邦财新事件

Thematic summary

The "Anbang Caixin Incident" triggered by the report of Caixin magazine's "Penetration of Anbang Capital Magic" has intensified, from the "Announcement" content of Anbang, to the "new response" of the Caixin, and then Going to Ampang to decide on the relationship between Bogongtang, Anbang and Caixin has developed to a "climax" stage.

On the morning of May 3, Anbang Group published an open letter to Ms. Hu Shuli on its official website, saying that it had decided to sue Hu Shuli and Caixin Media, and would also sued Guo Tingbing, the author of Caixin, in Canada.

latest news

"Ampang" stocks continue to be under pressure to adjust, today Vanke A, Gemdale Group, Minsheng Bank, China Merchants Bank, China Construction, Goldwind Technology, Eurasia Group, Financial Street and other Anbang holding more collective decline, Vanke A Set a new low in the next phase. It is reported that Minsheng Bank and Vanke A's share price fell sharply not only in Anbang, but also in the capital.[full text]

The life of news is time-sensitive, dealing with the negative consequences of negative reports, and timeliness is also the highest. Anbang was able to “tear” with a media twice in three days, and it also showed its news sensitivity. The so-called "rumors stop at the wise", but don't forget that the "herd effect" in mass communication will expand the impact, whether the impact is good or bad...[full text]

Anbang May 3 Open Letter: Prosecuting Hu Shuli and Caixin Media

Open letter to Ms. Hu Shuli

Ms. Hu Shuli:

Caixin Media has repeatedly requested our company to give advertisements and sponsorships, and to give us a contract with the unilateral seal of Caixin Media. The editors and editors come to our company at the same time, sit at a table and negotiate with us. Other companies exchanged for the protection of Caixin by means of equity participation. This is what you call "establishing a strict firewall mechanism, completely separate from management and editing"?

Caixin Media and its media have repeatedly attacked Mr. Wu Xiaohui, the chairman of our company, and fabricated false reports of “three marriages” and concocted rumors that “the relationship between husband and wife has been confirmed”. Is it true that you are not investigating and verifying these basic facts?

After our company invested in Minsheng Bank as a financial investor, you published the article "Who is the People's Livelihood Bank" and quoted Dong Wenbiao as saying: "You (Ampang) do not need to control Minsheng Bank, and it will be very troublesome in the future." Soon after, you came to our company with the editor of Caixin Media, and repeatedly said that you should not participate in Minsheng Bank. Because our company did not adopt your opinion, and then it was troublesome, Caixin reported to us on the smearing for several years. Can you not know the prophet, or do you have an interest in it?

On April 28th, Caixin Media once again released the so-called “heavy report” that attacked Ampang, but the article was flawed and the content was seriously misrepresented. For example, the investment of 27 billion in Anbang Property Insurance in Wenzhong is used for Anbang's capital increase. In fact, the investment of Anbang Property Insurance has been fully recovered in the months before the Anbang Group increased its capital. There is no possibility of self-injection of insurance funds. For example, the article also lists our company as the largest shareholder of listed companies such as Financial Street, Gemdale Group, Dashang Co., Ocean Group, and Huafu Group. In fact, we can see that in addition to Minsheng Bank, we are listed in the list of shareholders of listed companies. Other than a large shareholder, the others are not the largest shareholder. As a “professional financial media”, do you not consult the public information of listed companies before reporting?

In the past few years, Caixin Media has made a series of reports on our company. These reports are mostly plausible, far from the facts, some fabricated facts, fictional unrelated people and the company's relationship; some use speculation Anbang Insurance Group’s legitimate business activities were attacked; some self-talking fabricated conclusions that were completely unfounded. We express our strong contempt and condemnation of such reports that disregard the facts, are full of malicious and presupposed positions.

Our company has decided to sue you and Caixin Media. I hope that Ms. Hu Shuli will stop making facts and misleading public opinion for interest groups. We also hope that you will not reinvent the black box, find people to put pressure, we hope to work with you. A series of smeared and sleazy articles published by Caixin Media were on the court. We will also sued Guo Tingbing, the author of Caixin, in Canada.

We firmly believe that in today's rule of law, we will not allow any media that abuses the right to speak for interest groups to be willing to do so; we also firmly believe that the law will guarantee the survival rights of legitimate business enterprises!

Anbang Insurance Group Co., Ltd. Legal Department

May 1, 2017

Anbang 怼上财新

New report

1. On April 29, Caixin cover story: Penetrating Ampang Capital Magic

The cover article of Caixin Weekly, which was officially published on May 3, 2017, published a long article from the author and registered financial analyst Guo Tingbing based on public data research and analysis: “Penetrating Anbang Magic”. This article begins with Anbang's 100 million overseas investment in the year of 2015. It analyzes the "family control of Wu Xiaohui" behind Ampang's "shareholder structure puzzle", and then analyzes the relevant equity arrangements and capital increase of Anbang...detailed]

3. On May 1st, Caixin responded: the disregard of the facts

Caixin statement: On the 29th, the Anbang Group issued a statement on the grounds of "deciding the prosecution", swearing that Caixin smeared its attack out of its own economic demands. This is a trap of disregarding the facts and completely lacks legal basis. Since its inception, Caixin Media has always adhered to the principle of media credibility, established a strict firewall mechanism, and completely separated from management and editing, ensuring that news independence is not interfered by commercial interests...[detailed]

Anbang response

2, April 30, did not meet the advertising sponsorship requirements, concocted Wu Xiaohui relationship between husband and wife

Anbang issued an official statement saying that Caixin Media has repeatedly asked our company to give advertising and sponsorship, and to give us a contract with the unilateral seal of Caixin Media. Since our company failed to meet its requirements, Caixin Media and its The media such as Caixin Weekly and Caixin.com repeatedly attacked Wu Xiaohui, the chairman of our company, and fabricated false reports of “three marriages” and concocted rumors that “the relationship between husband and wife has been confirmed”. .[detailed]

4. On May 3, Anbang Insurance issued an open letter and declared the court again.

Anbang unilaterally announced that Caixin published the article "Who is the People's Livelihood Bank" and quoted Dong Wenbiao as saying: "You (Ampang) do not need to control Minsheng Bank, and it will be very troublesome in the future." Soon after, Hu Shuli came to Anbang with the editor-in-chief of Caixin Media, and repeatedly said that he would not participate in Minsheng Bank. Because Ampang did not adopt Caixin’s opinions, and then it was troublesome, Caixin’s smearing report on Ampang for several years...[detailed]

4 major focus questions who are more legitimate

Question 1: About holding the Minsheng Bank

        Caixin report:There is no need to control Minsheng Bank, it will be very troublesome in the future.

        Anbang Insurance:What are your interests?

Question 2: About Wu Xiaohui's marriage

        Caixin report:There have been three marriages, the husband and wife relationship has been confirmed to be suspended.

        Anbang Insurance:Multiple requests for advertising and sponsorship failed

Question 3: About Ampang Cash Flow

        Caixin report:Anbang Insurance Group's Ampang Life Insurance and Anbang Property Insurance's net cash flow at the end of the first quarter are now negative.

        Anbang Insurance:Ampang Life's cash reserves of 207.8 billion, Anbang property insurance cash reserves of 322.6 billion, there is no billion-dollar loan

Question 4: About Ampang, the major shareholder

        Caixin report:Ampang is the largest shareholder of several listed companies

        Anbang Insurance:There is a problem with the data.

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