Core Viewpoint - The article discusses the withdrawal difficulties faced by investors in the "Liuke Yunbang" and "Xiaogu Fengshou" apps, both operated by the Mengda Group, highlighting a potential financial crisis within the company and investor concerns regarding the safety of their funds [1][2][3]. Group 1: Withdrawal Issues - Since November 2025, investors have reported difficulties in withdrawing funds from the "Liuke Yunbang" app, with many unable to access their money despite multiple attempts [2][4]. - The withdrawal issues began after the National Day holiday in 2025, initially affecting large withdrawals before escalating to all amounts being stuck in the platform [2][4]. - The Mengda Group has proposed a repayment plan that categorizes unpaid amounts into four tiers, with varying repayment timelines and conditions, including equity conversion for larger investments [3][8]. Group 2: Company Background - "Liuke Yunbang" was launched in 2021 and is operated by Dongguan Mengda Data Technology Co., Ltd., part of the Mengda Group, which has received investments from notable institutions [3][4]. - The Mengda Group also operates other platforms, including "Xiaogu Fengshou," which entered the liquor industry in 2023, promising fixed annual returns and claiming bank supervision of funds [3][4]. Group 3: Investor Reactions - Over 3,000 investors are reportedly involved, with total funds exceeding several billion yuan, leading to widespread panic and distrust in the company's assurances [4][6]. - Many investors have expressed their frustrations online, with some filing police reports against the Mengda Group for suspected contract fraud [4][6]. - The company's communication regarding the crisis has been met with skepticism, as investors doubt the feasibility of the proposed repayment plan and the company's ability to fulfill its commitments [4][19]. Group 4: Operational Challenges - The company cited external events and economic downturns as contributing factors to its liquidity issues, including a protective freeze on bank accounts due to investigations into money laundering [7][8]. - The Mengda Group has acknowledged losses due to overdue payments from client companies, many of which are small and medium-sized enterprises facing operational difficulties [7][8]. - Despite the crisis, the company claims that other business segments remain operational, although investor confidence has significantly waned [7][8].

经济观察报 记者 蔡越坤 "转出申请成功，请等待银行处理。"2025年10月24日上午11点，来自西安的卢先生通过"六客云帮"APP 提交了一笔五万多元的货款提现申请，页面立即弹出一句提示。 按照卢先生的过往经验，这笔提现申请经平台后台人工审核后即可到账。然而，时间一天天过去，直到 2025年11月19日，这笔钱依然未见踪影。对卢先生来说，他辛苦赚来的工资被锁在了屏幕另一端。 卢先生的遭遇并非个例。不少投资者反映，国庆节后，"六客云帮"的提现通道就开始出现异常。起初只 是限制大额提现，小额仍可勉强到账；但自2025年10月20日起，情况进一步恶化，无论提现金额大小， 资金均被"卡"在平台中，无法转出。 公开资料显示，"六客云帮"上线于2021年，运营主体为东莞市盟大数据科技有限公司，隶属于盟大集 团。官网介绍称，盟大集团旗下拥有环球塑化、大易有塑、盟大企业购、小谷丰收等多个数字科技服务 平台，该公司曾获粤科金融、启赋资本、深创投等多家知名机构的多轮投资。2023年，盟大集团推 出"小谷丰收"平台，切入白酒产业链，提供原酒预订、封坛等投资模式，承诺每年固定收益，并称资金 由银行监管。 2025年11月以来，不仅 ...

Core Viewpoint - The article discusses the financial troubles faced by Dongguan Mengda Group Co., Ltd., highlighting a significant "run on the bank" situation where hundreds of users are unable to withdraw their investments, raising concerns about the company's financial stability and operational integrity [3][10]. Company Overview - Mengda Group was established in 2010 and is recognized as a national high-tech enterprise focused on integrated development services, utilizing technologies such as big data, IoT, and AI to create a digital service platform [3]. - The company claims to have over 1 million clients in the plastic chemical industry and an online trading volume exceeding 240 billion yuan, positioning itself among the top 10 B2B platforms in China [3]. Investment Scheme - The investment platform "Liuke Yunbang" offered investors fixed annual returns of 8% to 12%, promoting a perception of safety and ease in profit generation [5][6]. - Investors were required to sign two agreements: a "Distribution Cooperation Agreement" and a "Service Agreement," neither of which explicitly mentioned investment or returns, raising red flags about the legitimacy of the investment scheme [6][8]. Financial Crisis - On October 24, the company acknowledged a cash flow crisis due to a sudden halt in platform operations and significant customer withdrawals, attributing the situation to multiple factors, including a police investigation into money laundering that affected their bank accounts [10]. - The company proposed a "debt-to-equity swap" solution to investors, allowing them to exit their investments through a structured repayment plan [10]. Legal Actions - Investors have reported the company to the police, alleging illegal public deposit solicitation without regulatory approval, which could lead to serious legal consequences for the company [11].

Core Viewpoint - Dongguan Mengda Group has faced a liquidity crisis due to a large number of users requesting withdrawals, leading to a non-normal termination of platform operations and significant cash flow issues [7] Company Overview - Mengda Group, established in 2010, is a national high-tech enterprise focused on industrial integration development services, utilizing technologies such as big data, IoT, and AI [1] - The company has over 1 million clients in the plastic chemical industry and has achieved an online trading volume exceeding 240 billion yuan, ranking among China's top 10 B2B platforms [1] Investment Scheme - The "Liuke Yunbang" platform, operated by Mengda Data Company, promised investors fixed annual returns of 8% to 12%, claiming capital safety and principal protection [3] - Investors were required to sign two agreements: a Distribution Cooperation Agreement and a Service Agreement, neither of which explicitly mentioned investment or returns, raising concerns about the legitimacy of the investment [4][5] Financial Operations - The Distribution Agreement involved investors providing "stock turnover funds" to a supplier, while the Service Agreement indicated that investors would receive distribution income, which they believe is actually investment returns [5][6] - Prior to October, the platform operated normally, and investors received their returns as promised [6] Crisis and Response - On October 24, Mengda Group acknowledged the liquidity crisis in a letter to clients, attributing it to multiple factors, including a protective freeze on bank accounts due to a police investigation related to money laundering [7] - The company proposed a debt restructuring plan involving a "debt-to-equity swap" to address the financial issues, but many investors have not agreed to this proposal [7][8] Legal Actions - Investors have reported the company to the police, alleging illegal public deposit solicitation without regulatory approval [8]