Core Viewpoint - Ningbo Joywise Technology Co., Ltd. has announced the redemption of cash management products purchased with idle raised funds, ensuring compliance with the approved limits and maintaining operational integrity [2]. Group 1: Cash Management Approval - The company held meetings on November 15, 2024, and December 3, 2024, where it approved the use of up to RMB 100 million of temporarily idle raised funds for cash management, focusing on short-term investment products with high safety and liquidity, and a maturity of no more than 12 months [2]. - The authorized management can make decisions within the approved limits and timeframe, allowing for the rolling use of funds [2]. Group 2: Redemption Status - The company has redeemed cash management products that were purchased within the authorized range, with a remaining balance of RMB 45 million in idle raised funds for cash management as of the announcement date, which is within the approved limit of RMB 100 million [2].

Core Viewpoint - The case of Qian Zhimin, known as the "Bitcoin Queen," involves illegal fundraising of 40 billion yuan, conversion to 61,000 bitcoins, and subsequent flight to the UK, where she has now pleaded guilty to money laundering charges [1][2]. Group 1: Company Overview - Tianjin Blue Sky Ge Rui Electronic Technology Co., Ltd. (referred to as "Blue Sky Ge Rui") was established in March 2014 with a registered capital of 30 million yuan [1]. - The company operated under the guise of a technology firm, promoting high-return investment products with annual yields promised between 100% and 300%, significantly exceeding normal investment returns [1]. - From 2014 to 2017, Blue Sky Ge Rui illegally raised a total of 40 billion yuan, leading to substantial losses for nearly 130,000 investors [1]. Group 2: Legal Proceedings and Recovery Efforts - Following the investigation initiated in April 2017, law enforcement has apprehended 50 suspects linked to Blue Sky Ge Rui, with 28 already transferred for prosecution [1]. - The Tianjin Public Security Bureau has been actively pursuing asset recovery, freezing and seizing various assets related to the case, including funds, properties, and vehicles [1]. - Since February 2018, international cooperation has been ongoing with law enforcement agencies in the UK and other countries to pursue fugitives and recover funds [2]. Group 3: Investor Support and Warnings - The "Blue Sky Ge Rui Refund Working Group" was established in 2022 to register the amounts raised and losses incurred by affected investors, with additional registration opportunities provided in 2023 [2]. - The Tianjin Public Security Bureau has issued warnings to investors to cooperate with law enforcement and to avoid scams related to third-party legal guidance or cross-border recovery claims [2].

Core Viewpoint - The article discusses the recent developments in the illegal fundraising case involving Tianjin Lantian Ge Rui Electronic Technology Co., Ltd., highlighting the confession of the main perpetrator, Qian Zhimin, and ongoing efforts by law enforcement to recover losses for investors [1][9]. Summary by Sections Case Background - Tianjin Lantian Ge Rui, established in March 2014 with a registered capital of 30 million yuan, illegally raised 400 billion yuan from 2014 to 2017 by promoting high-yield investment products with promised annual returns of 100% to 300% [6][7]. - Qian Zhimin, the actual controller of the company, used deceptive marketing strategies to attract investors, claiming significant returns on investments [6]. Financial Details - The company’s fraudulent activities resulted in losses for nearly 130,000 investors, with Qian Zhimin converting illegal gains into 61,000 bitcoins, which were transferred overseas [5][6]. - As of November 2, the total value of the bitcoins was approximately 6.7 billion USD (about 47.68 billion yuan), significantly exceeding the total amount raised through illegal fundraising [6]. Legal Proceedings - On September 29, Qian Zhimin confessed to money laundering in a London court, marking a significant step in the international recovery efforts [8][9]. - The Tianjin police have been actively pursuing the case since April 2017, with 50 suspects arrested and assets frozen as part of the recovery process [7][9]. Ongoing Recovery Efforts - The Tianjin police continue to collaborate with UK law enforcement to recover funds for the victims, emphasizing the importance of legitimate channels for investors to express their concerns [9]. - A registration system for victims to report their losses has been in place since 2022, with additional opportunities for registration in 2023 [9].

Core Points - The case of Tianjin Lantian Ge Rui Electronic Technology Co., Ltd. involves illegal public deposit collection, with the main perpetrator Qian Zhimin pleading guilty to money laundering on September 29 [1][7] - The Tianjin police are actively collaborating with UK law enforcement to recover losses for the investors involved in the case [1][7] Group 1: Company Overview - Tianjin Lantian Ge Rui was established in March 2014 with a registered capital of 30 million yuan, promoting itself as a technology company [5] - The company attracted investments by promising extraordinarily high annual returns of 100% to 300%, with one product claiming a return of nearly 400,000 yuan on a 100,000 yuan investment over 30 months [5] Group 2: Financial Impact - From 2014 to 2017, Lantian Ge Rui illegally raised a total of 40 billion yuan, leading to significant financial losses for approximately 130,000 investors [5][6] - Qian Zhimin converted illegal proceeds into 61,000 bitcoins to transfer assets overseas before fleeing to the UK [5] Group 3: Legal Proceedings - The Tianjin police initiated an investigation in April 2017, leading to the arrest of 50 suspects, with 28 already prosecuted [6] - The police have been working on asset recovery, freezing and seizing various assets related to the case [6][7]

Group 1 - The company has approved the use of idle raised funds for cash management, allowing up to RMB 100 million for short-term investment products with high safety and liquidity, not exceeding 12 months in duration [2][6] - The decision was made during the third board meeting and the second extraordinary general meeting of shareholders held in November and December 2024 [2] - The funds can be used in a rolling manner within the approved limit and timeframe, with management authorized to make decisions regarding the investments [2] Group 2 - The company emphasizes that the use of idle funds will not affect the normal operation of fundraising projects or the main business, and aims to improve fund efficiency and generate investment returns for shareholders [6] - As of the announcement date, the company has an outstanding balance of RMB 80 million in cash management from idle funds, which is within the authorized limit [6]