Core Viewpoint - The Shenzhen Municipal Bureau of Local Financial Management issued a public notice on February 13, 2026, prohibiting illegal gold trading activities, including gold pricing transactions, leveraged trading, and deferred trading, which have been linked to fraudulent fundraising practices [3][4]. Group 1: Regulatory Actions - The notice explicitly states that enterprises are not allowed to engage in illegal gold pricing transactions, leveraged trading, and deferred trading through various online platforms, including WeChat groups and apps [4][6]. - The regulatory body has identified that some gold trading businesses have been operating under the guise of physical gold transactions while actually engaging in futures-like trading activities [4][6]. - The recent increase in gold price volatility has led to the exposure of risks associated with these trading models, prompting a stricter regulatory approach [3][6]. Group 2: Market Practices - Some gold pricing platforms have faced significant repayment difficulties, with reports indicating that the Jie Wo Rui platform has encountered large-scale repayment issues related to gold pricing transactions [3][5]. - The pre-pricing trading mechanism allows investors to lock in gold prices with a small deposit, leading to high leverage trading, which has attracted many inexperienced investors [5][6]. - The practice of using social media to create a false trading atmosphere has been noted, where platforms lure ordinary investors into high-risk trading activities [3][5]. Group 3: Legal Implications - The regulatory notice marks a clear distinction in the classification of these trading activities, indicating a shift towards recognizing their illegal nature [6][7]. - Legal experts predict that regulatory measures will focus on administrative actions against businesses engaging in pre-pricing and financing activities related to precious metals [7]. - Criminal penalties may be imposed on entities that operate with the intent to defraud investors, particularly those that cause significant financial losses or public unrest [7].

Core Viewpoint - The Shenzhen Municipal Financial Management Bureau has issued a public notice to further regulate illegal gold trading activities, specifically targeting gold pre-pricing transactions, leveraged trading, and deferred trading, which have been linked to fraudulent investment schemes [3][6][9]. Group 1: Regulatory Actions - The notice explicitly prohibits enterprises from engaging in illegal gold pre-pricing transactions, leveraged trading, and deferred trading, which are often disguised as legitimate gold trading activities [6][9]. - The regulatory body has identified that some gold trading platforms have been operating under the guise of "physical gold transactions" while actually conducting futures-like trading, leading to significant risks for investors [4][9]. - Recent market volatility in gold prices has accelerated the exposure of risks associated with these trading models, prompting a stricter regulatory approach [4][10]. Group 2: Market Practices and Risks - Some gold trading platforms have allowed investors to participate in high-leverage trading with as little as a 2.4% deposit, creating a false sense of security and attracting inexperienced investors [3][6]. - The pre-pricing trading mechanism allows investors to speculate on gold prices without actual physical delivery, which has led to significant financial exposure and risks for both investors and platforms [6][7]. - Recent reports indicate that several gold pre-pricing platforms have faced difficulties in fulfilling payment obligations, with one platform reportedly involved in a crisis affecting over 10 billion yuan [3][7]. Group 3: Legal and Administrative Measures - The regulatory framework will focus on two main areas: pre-pricing business (futures-like activities) and financing activities based on gold, both of which exhibit strong financial characteristics [10]. - Violations of these regulations may result in the revocation of business licenses and administrative penalties for responsible parties, with potential criminal charges for entities engaging in fraudulent practices [10][11]. - The distinction between legitimate physical gold transactions and financial instruments will be crucial in determining the legality of various business operations in the gold market [10].

Core Viewpoint - The Shenzhen Municipal Financial Management Bureau has issued a public notice prohibiting illegal gold trading activities, including gold price reservation trading, leveraged trading, and deferred trading, as well as illegal fundraising activities disguised as gold custody, leasing, and repurchase with promises of fixed returns [1][2][3] Group 1: Regulatory Actions - The notice explicitly states that enterprises are not allowed to engage in illegal gold trading activities through various online platforms, including WeChat groups and apps, under the guise of gold recovery and price reservation [2][3] - The regulatory body has clarified the illegal nature of these activities, marking a shift towards stricter oversight of gold price reservation trading and related financial activities [5][6] Group 2: Market Practices - Some gold traders in Shenzhen have been found to operate under the pretense of gold trading while actually engaging in futures-like price reservation trading, allowing investors to lock in gold prices with minimal deposits [2][5] - The recent volatility in gold prices has exposed significant risks associated with these trading models, leading to difficulties in repayment for several gold price reservation platforms [1][3] Group 3: Legal Implications - The regulatory framework will focus on two main areas: price reservation trading (futures-like activities) and financing activities based on gold, both of which exhibit strong financial characteristics [6] - Violations of these regulations may result in the revocation of business licenses and administrative penalties for responsible parties, with potential criminal charges for entities engaging in fraudulent practices [6]

Core Viewpoint - The articles highlight the prohibition of illegal gold trading activities, including pre-pricing, leveraged trading, and deferred trading, emphasizing the need for compliance in the gold market [1] Group 1: Prohibited Activities - Enterprises are not allowed to engage in illegal gold pre-pricing transactions, leveraged trading, or deferred trading through internet platforms under the guise of gold recycling and pre-pricing sales [1] - Companies must refrain from conducting illegal fundraising activities that promise fixed returns under the guise of gold custody, leasing, or repurchase [1] - Enterprises are prohibited from misleading consumers into purchasing physical gold while promoting illegal gold investment activities without actual delivery of the gold [1] Group 2: Individual Participation - Individuals are not permitted to organize or participate in illegal gold pre-pricing transactions, illegal fundraising under the name of gold, or any form of illegal gold investment activities [1]

Group 1 - The core message indicates that the "Jie Wo Rui" company is taking steps to address its asset disposal and fund-raising issues, having initiated a repayment process [1][5] - The company has opened an online signing channel for repayments and established a physical location for in-person consultations at the Luohu Sports Center [1] - A third-party professional institution has been commissioned to audit the company's operations, with preliminary results suggesting that the reported amounts circulating online are significantly exaggerated [1][6] Group 2 - The "Jie Wo Rui" company, controlled by Shenzhen Water Bay Gold, has shifted its business focus towards retailing precious metals and has opened gold pricing transactions to retail investors [5] - The Luohu District authorities became aware of the operational irregularities of "Jie Wo Rui" and promptly formed a task force to ensure the company fulfills its responsibilities [6]

Core Viewpoint - The Shenzhen Luohu District Working Group is actively intervening in the operational anomalies of Shenzhen Jie Wo Rui Jewelry Co., Ltd., and has provided updates on the company's asset disposal and fund-raising efforts to initiate repayment [1]. Group 1 - The working group has urged Jie Wo Rui to dispose of assets and raise funds, which has led to the initiation of repayment [1]. - Jie Wo Rui has established an online signing and repayment channel, along with a physical location for processing at the Luohu Sports Center [1]. - A third-party professional institution has been commissioned to audit Jie Wo Rui's operational status, with preliminary results indicating that the reported amounts have been significantly exaggerated [1]. Group 2 - Prior media reports indicated that the Jie Wo Rui platform, controlled by Shenzhen Jie Wo Rui Jewelry Co., Ltd., faced repayment difficulties [3]. - The company has gradually shifted its business focus towards retailing precious metals and opened gold pricing transactions to retail investors [3].

Core Viewpoint - The company Jie Wo Rui has initiated a repayment process under the supervision of the Luohu District task force, following asset disposal and fundraising efforts [1][4]. Group 1: Company Operations - Jie Wo Rui, established in 2014, primarily engages in the wholesale of non-ferrous metals and ores, transitioning to precious metal retail and opening up gold pre-order trading to retail investors, which has increased its risk exposure [3]. - The company has faced significant operational challenges, with its online platforms experiencing withdrawal difficulties since January 20, 2026, and imposing daily withdrawal limits of 500 RMB or 1 gram of gold starting January 21, 2026 [3]. - Prior to the cessation of normal withdrawals, Jie Wo Rui launched promotional activities, including a "one-time fee waiver event" on January 24, 2026, which attracted many users to send in gold or recharge their accounts [3][4]. Group 2: Regulatory Response - The Luohu District task force has been actively involved in overseeing Jie Wo Rui's operations, ensuring the company fulfills its responsibilities and addressing investor concerns [4]. - A third-party professional agency has been commissioned to audit Jie Wo Rui's business operations, with preliminary findings indicating that reported amounts may have been exaggerated [1]. - The task force has established online signing channels for repayments and set up offline points for processing, aiming to facilitate the repayment process for affected investors [1][4].

Group 1 - The Shenzhen Luohu District task force is actively managing the operational issues of Shenzhen Jie Wo Rui Jewelry Co., Ltd. (referred to as Jie Wo Rui) and has reported that the company is taking steps to address its asset management and fund-raising efforts [1] - Jie Wo Rui has established online and offline channels for repayment, with a physical location for consultations at the Luohu Sports Center [1] - An audit by a third-party professional institution, supervised by the task force, indicates that the reported financial issues have been significantly exaggerated [1] Group 2 - The management team of Jie Wo Rui, including key personnel, remains in place and is engaged in communication with investors, asset management, and repayment processes [2]

Core Viewpoint - The Shenzhen Luohu District Working Group is actively addressing the operational anomalies of Shenzhen Jie Wo Rui Jewelry Co., Ltd. and has initiated measures for asset disposal and fund raising to facilitate repayment to investors [1][3]. Group 1: Company Actions - Jie Wo Rui has started asset disposal and fund raising under the supervision of the working group, and has initiated repayment processes [1]. - The company has established an online signing channel for repayments and set up a physical consultation point at Luohu Sports Center, located at No. 48, Longsha Highway, Luohu District [1]. - A third-party professional institution has been commissioned to audit the company's operations, with preliminary results indicating that the reported amounts online are significantly exaggerated [1]. Group 2: Communication and Support - The working group has set up a public consultation hotline available daily from 9:00 AM to 6:00 PM, including weekends, to assist the public [1]. - The management team of Jie Wo Rui, including key personnel, remains in place and is actively engaging with investors regarding communication, asset management, and repayment efforts [4]. Group 3: Regulatory Oversight - Relevant authorities are investigating various leads and will handle matters in accordance with laws and regulations [2].

Core Viewpoint - The recent liquidity crisis at Shenzhen's "Jie Wo Rui Jewelry" has raised market concerns, highlighting the risks associated with unregulated gold trading platforms and their reliance on a "pre-priced" model that lacks physical backing [1][3]. Group 1: Company Overview - Jie Wo Rui, originally a gold raw material trader in Shenzhen's Shui Bei area, has transitioned to retailing precious metals, focusing on non-physical gold pricing and related services, which has led to accumulating risks [3]. - Following the liquidity crisis, the Jie Wo Rui app has been suspended, and several related online platforms, such as "Long Ye Jin" and "Jin Cheng Jin Shi Jie," are no longer searchable on WeChat [3]. Group 2: Industry Context - The crisis has prompted the suspension of similar gold trading platforms, with consumers reporting that apps like "Yun Dian Dang" and "Bao Ma Mai Jin" have also been halted, indicating a broader issue within the industry [3]. - A warning from the Agricultural Bank of China in January highlighted the risks of illegal trading platforms masquerading as gold investment opportunities, which often promise low entry barriers and high returns, effectively functioning as gambling scams [6]. - The Shenzhen Gold Jewelry Industry Association has previously issued warnings about companies engaging in non-physical gold betting, which could constitute illegal gambling activities, emphasizing the need for regulatory oversight in the sector [6].