On May 11th, Wuhan P2P platform Changzhuo.com recently announced on the official website that it has officially ceased operations and users can apply for redemption on their own from May 7 to May 20.
According to the announcement, with the increasingly difficult acquisition of long-term online business, the business provider announced that it would expire the business ahead of schedule. After careful consideration, it decided to stop the operation.
According to the announcement, users who have not yet expired products from May 7 to May 20 can apply for redemption on their own. After the application for redemption, all products that have not been added will expire and interest will be terminated until the date of redemption. Early redemption does not charge any fees. After successful redemption, the principal and corresponding income will be returned to the account balance, and the user can apply for withdrawal directly.
The announcement reminds that the daily maintenance time is 23:50-3:30, and no redemption is allowed. The "one-click redemption" function is only applicable to the computer's PC, and the mobile phone APP does not support it. If not redeemed, the system will automatically redeem all products on May 21. The added principal and corresponding income will be returned to the long-term investment account balance. Withdrawal processing time is 3-15 working days (except on weekends). During this period, the current day is not supported.
According to statistics, Long Investment Online went online in November 2013 with a registered capital of RMB 100 million. The product release project categories are: ransom loans, down payment loans, housing loans, mortgage loans, corporate creditor rights transfer projects. As of May 11, 2018, the cumulative trading volume of the platform was 2.6 billion yuan, with a registered population of 68,000, and there were more than 300 million yuan to be received.
The following is the full text of the announcement:
With the increasing difficulty of acquiring long-term online business, business providers have announced that they will expire their business ahead of schedule. We have considered the overall operation of the platform and, after careful consideration, decided to cease operations in order to protect the vital interests of the new and old users. The details are as follows:
1. During the period from May 7 to May 20, any users who have not yet expired their products may apply for redemption on their own. Operation method: After the computer logs in the online official website and clicks “one-click redemption” on the “my long shot” page, all unexpired products can be redeemed. As shown below:
2. After the application for redemption, all products that have not joined the expiry date will cease to carry interest and the interest will be calculated until the redemption date. Early redemption does not charge any fees. After a successful redemption, the principal and corresponding income will be returned to your long-term investment account balance. You can apply for cash withdrawal directly.
Third, the daily maintenance period of 23:50-3:30 is not available for redemption.
Fourth, "one-click redemption" function is only applicable to the computer pc terminal operation, mobile phone APP does not support.
5. If you do not redeem yourself, on May 21, the system will automatically redeem all products. The added principal and corresponding income will be returned to your long-term investment account balance.
6. Withdrawals will be processed in order of priority according to the time of application. The cash withdrawal amount is unlimited and no handling fee will be charged. Due to the large amount of withdrawals, withdrawal processing time from today is 3-15 working days (except on weekends). During this period, it does not support the arrival of accounts on that day.
Thank you for everybody who has been with us for the past 4 years. Thank you for your support and trust. Thank you for your tolerance and understanding.
Together, sometimes, parting, sometimes, sometimes!
Long Investment Online Operations Team
May 7, 2018