Deep Tide TechFlow News, on July 19, according to Caixin reports, Qian Fenglei, considered a friend of Jack Ma, and several companies controlled by him, including Hengfeng International, are suspected of publicly selling multiple collective investment schemes that have not been recognized by the Hong Kong Securities and Futures Commission in Hong Kong. Tens of thousands of people have suffered financial losses, and some individuals have reported to the public security authorities in mainland China, with victims hoping the Hong Kong Securities and Futures Commission will take the initiative to investigate.

Caixin's investigation found that a large number of people from mainland China participated, with one sales group exceeding 120,000 people. According to previous reports, Cao Guowei, Cai Wensheng, Zeng Fanzhi, Li Lin, Shen Guojun, Yu Guoxiang, Lin Jiali, Wu Guangming, and others are also investors in this project.