2025年，存款利率步入"0字头"，金价屡创新高，大众理财意识正经历深刻转变。近日，蚂蚁财富与小 红书联合发起年度理财关键词投票，由2万多名网友票选出了五大关键词：黄金血脉觉醒、新三金、存 款搬家、A股慢牛和AI叙事理财。其中，黄金关键词占据了两席。 "淘金热"贯穿了全年。截至11月末，央行连续第13个月增持黄金，中国黄金储备环比增加3万盎司。此 外，央行10月的金融统计数据报告显示，当月住户存款减少1.34万亿元，而非银行业金融机构存款则增 加1.85万亿元。 "存款搬家到黄金、基金、股市、保险等，是资金在用脚投票，"在线下理财开放麦现场，经济学家、香 帅数字经济研究中心创始人香帅表示，微利时代，人人都要重视配置。在她看来，这些理财关键词 中，"新三金"等配置法是投资者在岛链化的世界里构建自己的安全锚点，而在稳住基本盘之外，也需要 在AI叙事的浪潮中寻找真正的增长方向。 国家金融与发展实验室财富管理研究中心主任王增武指出，"这些关键词在一定程度上反映了居民现金 储蓄向金融资产流动的趋势。居民投资金融资产的积极性正在提高，资产配置的理念也在逐渐形成。" 年轻人黄金血脉觉醒 2025年金价持续上行，年内累计涨幅 ...

经济观察报 记者 刘颖 邹永勤 当国际金价扶摇直上，不断突破历史高点时，深耕黄金产业链二十多年的深圳金雅福控股集团有限公司（下称"金雅福控股"）却"爆雷"了。 据多名投资者反映，他们投资的与金雅福控股相关的黄金理财产品从11月开始出现大面积逾期，无论投资者如何催促，金雅福控股都无法给出明确的兑付时 间。 多名投资者称，12月12日，金雅福控股董事长黄仕坤在内部沟通会中称，希望投资者"借给他们一点时间"。目前，投资者已经向相关部门报案。 12月25日下午，经济观察报记者以投资者身份致电深圳市盐田区地方金融管理局，一名工作人员称，11月初已经成立金雅福专班，当时有投资者提及相关产 品兑付不了的情况后，政府便已介入。金雅福涉及的项目盘根错节，他们要核查的东西很多，包含员工的流水等。目前他们正在给金雅福"自救"的机会，如 果发现其资不抵债，将会对其进行后续清算。该工作人员称，目前警方与金融监管等部门协同，黄仕坤虽然人在香港，但他的弟弟黄仕峰以及一众高管已经 被经侦控制。他进一步表示，对于金雅福这件事涉及的资金总规模有多大、涉及的人数有多少，还是未知数，建议可参考网上的消息（网传70亿元到80亿 元）。现在，他们正处于 ...

Core Viewpoint - The recent liquidity crisis faced by Jin Yafu Holdings, a former top 500 Chinese enterprise deeply involved in the gold industry, has raised significant market concerns despite soaring international gold prices [1]. Group 1: Company Situation - Jin Yafu has been reported to have delayed the redemption of some financial products, leading to a situation where the company's headquarters appears abandoned, and employees are pursuing labor arbitration for unpaid wages [1]. - Investigations revealed that the company's office in Shenzhen was empty, with a notice indicating the termination of the rental agreement, and the new address provided was also unoccupied [2][4]. - The company has faced investor claims, with reports of multiple labor arbitration notices found in the elevator area of their registered office [4]. Group 2: Business Operations - Despite the ongoing crisis, Jin Yafu's "Smart Gold Store," which allows consumers to conduct gold recycling transactions, continues to operate, although there are delays in fund transfers for recycled gold [7]. - The company previously adjusted its service fees for gold recycling in October, indicating attempts to alleviate financial pressure [7]. Group 3: Investment Products and Risks - Jin Yafu promoted "gold entrusted financial products" with promised annual returns of 8% or higher, but concerns have arisen that the funds may not have been invested in gold as claimed [8][9]. - The crisis has highlighted the risks associated with the "gold entrusted" model, where investors sign contracts without actual delivery of gold, leading to potential fraud and illegal fundraising activities [10]. - The liquidity crisis is believed to be exacerbated by financial strains from real estate projects, which have significantly impacted the company's cash flow [10].

Core Insights - The article highlights a significant financial crisis faced by the gold giant, Jinya Fu, which has led to product redemption issues for investors [1] - Despite a booming gold market, with prices exceeding $4,450 per ounce, Jinya Fu, a company with annual revenues exceeding 50 billion yuan, is experiencing severe operational challenges [1] Company Overview - Jinya Fu Holdings Group Co., Ltd. has been a major player in the gold industry, with a revenue exceeding 50 billion yuan [1] - The company operates through its subsidiary, Shenzhen Jinya Fu Jewelry Manufacturing Co., Ltd., which has recently faced product redemption failures [1] Investor Impact - Numerous investors have reported being unable to redeem financial products purchased from Jinya Fu, with some individual investments reaching hundreds of thousands of yuan [1] - An estimated 4,000 investors are affected, primarily consisting of middle-aged and elderly individuals with low risk tolerance [1] Product Details - The "Cultural Gold" financial product offered by Jinya Fu promised fixed annual returns of 8% to 14%, independent of gold price fluctuations, and was marketed as a safe investment [1] - The product was designed to be stored securely in bank facilities, enhancing its appeal to investors seeking reliable returns [1]

曾以黄金珠宝产业为核心、跨界布局地产与资本市场的金雅福控股集团，陷入前所未有的流动性危机。 12月以来，金雅福被曝部分理财产品兑付延期，公司总部已"人去楼空"，员工发起劳动仲裁追讨欠薪， 相关情况引发市场广泛关注。 投资者张先生表示，10月兑付逾期后，金雅福曾组织线下沟通会，承诺将以佛山项目的拆迁款和销售回 款优先兑付理财资金，但此后便再无实质性进展。11月下旬，当投资者再次试图联系时，发现当初对接 的业务员已离职，公司办公地点也已搬迁。 而在此之前，金雅福也曾通过各种方式筹措资金。中登网信息显示，2025年6月和8月，深圳市金雅福首 饰制造有限公司先后将其与多家银行签订的贵金属产品销售代理协议产生的销售回款质押给两家银行， 换取共计1.18亿元融资。此外，2024年底以来，该公司还多次质押名下定期存款、电子存单及旗下公司 的应收账款，对公司借款进行担保。 针对金雅福理财延期兑付一事，深圳市盐田区相关部门接线工作人员在接受媒体采访时表示，政府部门 已全面介入，已聘请会计组，会对公司资产进行清算，警方也在对公司进行监管。其建议投资者报警处 理，并按警方要求发送相关资料。 公司总部"人去楼空" 多名员工发起劳动仲 ...

作者 | 第一财经 王方然 封图｜金雅福集团原罗湖总部现场大门紧缩。摄影/王方然 今年6月，陈涛（化名）发现他购买的一款黄金理财产品收益突然中断。此前，他在金雅福购买投资黄金后，与推荐的第三方签订委托合同，投向"文化 金"销售业务，承诺年化收益8%至14%。在投资的第一年，他的年化收益率为10%。但自今年6月起，款项未再到账。到了11月，多个投资者社群的信息显 示，类似产品已普遍违约。 另一位投资者阿丽（化名）通过代持人购买的与金雅福相关的一款私募产品，同样从6月起停止兑付。但当时公司提出多项产品升级方案安抚投资者，阿 丽也就暂时作罢。 据第一财经调查，11月开始，与金雅福相关的多款产品出现大面积逾期，部分产品承诺年化收益率超过10%，涉及资金或达70亿至80亿元。 其中，有些产品以"黄金委托"为名，引导消费者签订黄金买卖合同后并不提取实物，转而与关联方签订委托合同开展投资，承诺固定收益。另有部分名义 上投向股权或黄金回收项目的私募产品，在补充协议中通过回购承诺、担保补足等形式提供隐性保本，或涉嫌构成"名股实债"。 近日，第一财经记者实地探访金雅福位于深圳罗湖的集团总部，现场已基本搬空，办公场所大门紧锁，房屋 ...

Core Viewpoint - The article discusses the financial troubles faced by Jinyafu Group, highlighting widespread defaults on investment products and potential illegal fundraising activities [2][3][39]. Group 1: Company Overview - Jinyafu Group, established in 2006, is a well-known gold processing company based in Shenzhen, specializing in a comprehensive range of services in the gold and jewelry industry [5]. - The company has developed into a one-stop service provider, including cultural innovation research, smart manufacturing, personalized customization, smart retail, gold recycling, refining, and logistics [5]. Group 2: Investment Product Issues - Since June 2023, multiple investment products associated with Jinyafu have experienced significant payment defaults, with estimated funds involved ranging from 7 billion to 8 billion yuan [2][5]. - Many of these products promised annual returns exceeding 10%, with some investors reporting that their returns ceased as of June [2][3]. - The company has proposed several "upgrade plans" to delay the pressure from these defaults, including converting expired projects into franchise operations and offering debt guarantees from related parties [5][6]. Group 3: Legal and Regulatory Concerns - Legal pressures have intensified, with multiple civil cases against Jinyafu, including a significant case related to financial contract disputes set to be heard in December 2023 [8][39]. - The company has been accused of using complex contractual arrangements to mislead investors, particularly through a model labeled as "golden entrustment," which has raised concerns about potential illegal fundraising [12][39]. - Regulatory bodies have indicated that the company's practices may violate laws against illegal fundraising, as they appear to attract public investment without proper authorization [39]. Group 4: Investment Models and Returns - Jinyafu's investment products often involve a two-step process where investors first sign a physical gold purchase contract without taking delivery, followed by a contract with a third party for investment purposes [12][20]. - The "Cultural Gold" product claims to offer high returns through various sales channels, but industry insiders question the feasibility of achieving promised profit margins [14][15]. - Some investment agreements include clauses that effectively guarantee returns, blurring the lines between equity investment and debt, which raises further regulatory concerns [31][34]. Group 5: Investor Experiences and Reactions - Investors have reported significant delays in receiving payments, with some employees of Jinyafu also experiencing reduced benefits and delayed salaries [8][39]. - The company has been accused of using "pyramid schemes" to circumvent investor qualification requirements, allowing individuals with insufficient financial assets to participate in high-risk investments [34][39].

政府已成立专班介入处理，具体处置方案正在研究中。 今年6月，陈涛（化名）发现他购买的一款黄金理财产品收益突然中断。此前，他在金雅福购买投资黄金后，与推荐的第三方签订委托合同，投向"文化 金"销售业务，承诺年化收益8%至14%。在投资的第一年，他的年化收益率为10%。但自今年6月起，款项未再到账。到了11月，多个投资者社群的信息显 示，类似产品已普遍违约。 另一位投资者阿丽（化名）通过代持人购买的与金雅福相关的一款私募产品，同样从6月起停止兑付。但当时公司提出多项产品升级方案安抚投资者，阿丽 也就暂时作罢。 据第一财经调查，11月开始，与金雅福相关的多款产品出现大面积逾期，部分产品承诺年化收益率超过10%，涉及资金或达70亿至80亿元。 据投资者提供的资料，这些方案包括：将到期项目转为"智慧金店"加盟或代运营、由关联方提供债务连带责任担保，以及将债权转化为关联企业深圳上善智 能有限公司的股份（下称"上善智能"）未来上市后的股权。 值得注意的是，这些展期方案都附有高额回报承诺。 以上述债权转股权方案为例，公司承诺将设立持股平台，客户通过持股平台间接持有上善智能的股份，根据上善智能的股权估值以及持股平台对应客户的债 ...

本文由 AI 算法生成，仅作参考，不涉投资建议，使用风险自担 【12月17日数据：今年A股公司买理财金额同比降18.76%】今年以来，截至12月16日，1147家A股上市 公司购买1.5万个理财产品，认购金额合计9440.99亿元，同比下降18.76%。 各类理财产品中，结构性存 款最受青睐，认购金额5638.34亿元，占比59.72%。 其次是银行理财产品，认购金额1081.24亿元。存款 产品、券商理财产品认购金额分别为769.69亿元、658.07亿元。 ...

格隆汇12月12日丨海信家电(00921.HK)宣布，于2025年5月8日至2025年12月12日期间，公司的附属公司 空调营销公司及冰箱营销公司(作为认购方)订立华夏理财协议，以认购华夏理财产品，认购金额为人民 币17.6亿元。 ...