China Tea Company Fan Cha Holdings Defaulted on Hundreds of Millions Payment of Raw Tea-Wealth Management Products, 1 Dealer Unable to Redeem $195 Million of Wealth Management Products, Fan Cha Offered 4 Redemption Options with 5% Redemption & 95% on New Products, Converting Debts to Equities, Goods as Compensations, Bankruptcy & Liquidation
8th August 2024 | Hong Kong
China tea company Fan Cha Holdings has defaulted on hundreds of millions payment of raw tea-wealth management products, with 1 dealer unable to redeem $195 million of wealth management products. Fan Cha had offered 4 redemption options with 5% redemption & 95% on new products, converting debts to equities, goods as compensations, bankruptcy & liquidation. Profile – Fan Cha, budding in 2015 and officially launched at the end of 2021, is a tea enterprise with old tea as its core product, headquartered in Guangzhou, China, focusing on the research and development, promotion and sales of tea products.The company cooperates with two 10,000-mu tea plantation base (Yunnan + Fujian), and owns Fanfu Mansion, tasting center, R&D center, warehouse center, distribution center, and more than 500 brick-and-mortar stores.With “tasting, collection, value and circulation” as its business philosophy and “making the world fall in love with Chinese tea culture” as its development mission.Following the principle of old tea getting older and more fragrant, practicing the concept of “Three Tea”, and driving the high-quality development of tea industry with tea culture and tea science and technology, we strive to build a tea brand inheriting Chinese culture.
“ China Tea Company Fan Cha Holdings Defaulted on Hundreds of Millions Payment of Raw Tea-Wealth Management Products, 1 Dealer Unable to Redeem $195 Million of Wealth Management Products, Fan Cha Offered 4 Redemption Options with 5% Redemption & 95% on New Products, Converting Debts to Equities, Goods as Compensations, Bankruptcy & Liquidation “
China Tea Company Fan Cha Holdings Defaulted on Hundreds of Millions Payment of Raw Tea-Wealth Management Products, 1 Dealer Unable to Redeem $195 Million of Wealth Management Products, Fan Cha Offered 4 Redemption Options with 5% Redemption & 95% on New Products, Converting Debts to Equities, Goods as Compensations, Bankruptcy & Liquidation
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