KOC3436

Individual Video
Presentation
WANG CHENAN
204821
 Title: Wirecard files for insolvency

BERLIN, June 25 (Reuters) - Wirecard, a

German payment company known as
"European Alipay", has filed a
bankruptcy petition with the Munich
court.
Wirecard said in its announcement that
under the current situation, the company
was unable to repay the 1.3 billion euro
debt due at the end of June, so it had to
file for bankruptcy.
 There
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reasonsfor
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wirecard.

01 First of all, the bankruptcy of wirecard is almost the same

as the previous stock market of Ruixing coffee (1.380, -
54.00%). After financial fraud, the stock price plummeted
immediately. Facing delisting of the stock market,
punishment from the regulatory authorities and investor
claims, bankruptcy is almost inevitable. Ruixing coffee
fictitious operating income, and wirecard fictitious assets of
1.9 billion euros, but these assets were found to be non-
existent.
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02
Secondly, wirecard is considered to be Alipay in
Europe, a rare technology giant in Europe. It was
once banned by German securities regulators as a
ban on short selling, and its importance to
Germany was seen. But the huge amount of
fictitious assets has undoubtedly shattered its
growth myth. Compared with Alipay's achievements
in China, the valuation has been close to two
hundred billion US dollars.
03
Finally, from Ruixing coffee to wirecard, incidents of
listed companies have occurred frequently in recent
years, and severe regulatory punishments and the
serious consequences of bankruptcy will also bring
warning to other companies in the future. The most
important thing in the capital market is credit. A company
without credit will have no market value.
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