Recently, Guangdong-based gold enterprise Jinya Gold faced market scrutiny after delays in redeeming some wealth management products. Investors reported millions trapped, with one claiming to have mortgaged multiple properties for over 7 million yuan without ever receiving physical gold.
Wei Hongbo (pseudonym) and his family learned about the investment scheme through Jinya Gold's offline stores in 2023. He disclosed that investors had to sign two contracts: one for purchasing gold from Jinya Gold, and another entrusting Shenzhen Boyao to manage the gold investment. The company promised principal plus interest upon maturity, but Wei never saw the physical gold. In November this year, Wei discovered a 2 million yuan investment had defaulted, bringing his total exposure to over 7 million yuan. "We mortgaged several family properties for this investment, and now we're deeply distressed," Wei said.
A visit to Jinya Gold's former headquarters in Shenzhen's Luohu district revealed complete abandonment. The company signage had been removed from the reception area, with office equipment cleared out. Property management notices dated December 12, 2025, confirmed termination of Jinya Gold's leases for floors 23, 24, 29 and 31 in the building.
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