According to information from Sina Technology and Zhihu, since last September, Shenzhen Qiaoshi Holding Group and its fund-raising end, Shandong Qirong Finance Co., Ltd., have been warned of financial risks by many regulators. The last time was in July, 2023. Jinan officially issued the Risk Warning of Shandong Qirong Financial Consulting Co., Ltd. and Shenzhen Houmu Wealth Management Co., Ltd. for Suspected Illegal Fund Raising. Many investors reported that they all bought wealth management products through Shandong Qirong or Houmu Wealth, and the annualized income was about 10%. However, it has been overdue for several months since last September and has not been resolved so far. The overall overdue scale is 2 billion to 3 billion.