YKA(SZ:300999) 第一财经网·2025-11-21 11:41Core Viewpoint - The company Jinlongyu claims that Anhui Huawen is attempting to illegally transfer its massive losses after being defrauded in a significant palm oil scam involving 5 billion yuan [1][2]. Group 1: Background of the Case - From 2008 to 2014, Guangzhou Yihai acted as a storage intermediary for Anhui Huawen and Yunnan Huijia, responsible for storing palm oil imported by Anhui Huawen [2]. - The transaction between Anhui Huawen and Yunnan Huijia was essentially a financing trade, which is common in bulk commodities but carries risks such as loss of control over goods and funding chain disruptions [2][3]. - Yunnan Huijia's representative bribed Anhui Huawen's executives to change the agreed payment terms from "payment before delivery" to "delivery before payment" [2][3]. Group 2: Details of the Fraud - Yunnan Huijia's representative exceeded the agreed limits to obtain goods and used forged documents to conceal the fact that the palm oil stored at Guangzhou Yihai had already been sold [3]. - Between March 2012 and December 2014, Yunnan Huijia's representative bribed Anhui Huawen's employees to facilitate the acquisition of goods through fraudulent means [3]. - The direct economic loss to Anhui Huawen was reported at 3.23 billion yuan, with indirect losses amounting to 2.015 billion yuan [3]. Group 3: Legal Proceedings and Company Response - The court found Guangzhou Yihai guilty of contract fraud and imposed a fine of 1 million yuan, along with a compensation responsibility of 1.881 billion yuan [4][5]. - Guangzhou Yihai and its parent company, Yihai Kerry, have appealed the ruling, asserting that they did not participate in any fraudulent activities and that Anhui Huawen is attempting to shift its losses onto them [5][6]. - The chairman of Guangzhou Yihai stated that they followed due diligence as per the storage agreement and had no knowledge of any fraudulent actions [6]. Group 4: Market Implications and Observations - The case has drawn attention to the unusual storage claims made by Anhui Huawen, which allegedly stored over 1 million tons of palm oil for over a decade, raising questions about the feasibility and legality of such practices [7]. - Legal experts suggest that the current judgment may favor the victims, as Yunnan Huijia appears to lack the ability to repay the defrauded amounts [8].