Case Analysis Of 36kr Equity Financing Platform’s “Hongli Event”

On June 3,2016,TMT Post published an article entitled "36kr is stuck in the fraudulent equity-based crowd-funding project".The article exposed 36kr’s Hongli project launched a series of problems,and it caused a heated debate in society.Hongli event is the typical case in the initial period of Internet private equity financing industry,which reflects various problems that existed in the developing industry.Internet private equity financing,namely "Internet + private equity investment",is an important part of the Internet finance.Internet private equity financing emerges in 2011 and is at the early stage of development.It’s mainly meant to solve the financing difficulties of small and medium-sized enterprises,shows such characteristics as low cost,high efficiency and wide audience.Therefore,it is a good way of resource allocation.The government hopes this business model can have the effect of the rational allocation of resources,so the regulatory relatively loose.Until“the guiding opinions on promoting the healthy development of the Internet finance”is issued,Internet private equity financing is set to under CSRC’s regulation.These reasons make the Internet private equity financing booming,but also bring risks to the development of the industry."Hongli event" is under such background of the industry.Afterwards,36kr’s equity investment business hugely shrinked,Hongli’s market price halved.“Hongli event” gives an alert to platforms and regulatory.We should be aware of the fact that platforms and the regulation is immature on risk management.the Internet private equity financing risk management problem is one of the most concern under the theme of "mass entrepreneurship and innovation".Based on the analysis of “Hongli event”,the paper discusses the risk management problems in Internet private equity financing,and puts forward some suggestions to platforms and regulation.The paper is divided into five chapters.The first chapter mainly discusses the paper’s background and content;The secondchapter mainly elaborates the industry,platforms and regulation;The third chapter expounds the details of "Hongli event" and impacts of the event;The fourth chapter analyzes the risk existing in the event and its reasons;The final chapter gives suggestions of risk management on the basis of "hongli incident",and also put enlightenment to industry development.the supervision,industry developing would bring greater financing risk,also exists in the current laws don’t want to adapt to the place.Research of private equity financing on the Internet,we can provide experience for the development of the development of the industry accumulation,to clarify the problem all the responsibility main body,improve investor confidence and promote the development of industry.