打着上市公司、国资旗号的“高收益项目”，暴雷了

Core Insights - The article discusses the collapse of Qingyun Rental, a mobile phone rental platform that promised high returns but ultimately turned out to be a financial trap, affecting thousands of investors and involving a capital scale of up to 1 billion yuan [3][4][21] Company Background - Qingyun Rental marketed itself as a leading mobile phone rental platform, claiming to have over 300 offline experience stores and serving more than a million users across 200 cities [4][21] - The company was backed by a Hong Kong-listed company and a state-owned fund, which contributed to its perceived legitimacy [4][8] Financial Operations - The business model involved investors purchasing mobile phones for the platform to rent out, with promises of high returns, such as an annualized rate of 16.8% [17][20] - The actual revenue model relied heavily on continuous investment from new investors to pay returns to earlier investors, resembling a Ponzi scheme [18][20] Risk Factors - The platform's claims of stability and high returns were misleading, as the actual rental income did not support the promised yields, and the majority of funds were not used for legitimate rental activities [19][20] - The complex ownership structure and the use of multiple layers of investment obscured the true financial health of the company, making it difficult for investors to assess risks [10][12][14] Regulatory Implications - The Qingyun Rental incident highlights the need for better regulatory oversight in the financial innovation space, particularly regarding models that blur the lines between lending and leasing [21]