近日，大陸一家曾被外界視為「黃金產業龍頭」的企業金雅福，突然捲入理財產品逾期風波，引發市場與投資人高度震驚。多名投資者爆料指出，金雅福相關理財計畫已出現大規模兌付困難，公司總部更被發現幾近搬空，辦公室人去樓空，讓原本信任企業背景與品牌光環的投資人陷入極度不安。

根據受害者說法，金雅福長期以「實體黃金背書」「高端貴金屬理財」作為賣點，吸引高資產客戶投入資金。其中不乏金額龐大的投資案例，有人前後投入超過700萬元人民幣，卻自始至終未曾親眼見過所謂對應的實體黃金，相關合約與說明文件也多以內部憑證或電子紀錄為主。隨著近期理財到期卻無法兌付，投資人這才驚覺情況可能遠比想像中嚴重。

更令外界譁然的是，在公司資金鏈緊張、理財產品爆出逾期疑雲之際，金雅福董事長今年稍早仍完成對一家上市公司的收購行動。此舉被投資人質疑是否存在資金挪用或關聯交易問題，也引發市場對公司財務透明度與內控機制的強烈質疑。部分投資者直言，自己一邊等不到本金與收益，卻看到企業高層持續進行資本操作，心理落差極大。

金雅福過去曾被包裝為「500強體系中的黃金企業」，在品牌宣傳中強調自身規模、背景與行業地位，成功塑造出穩健、可信賴的形象。也正因如此，不少投資人是在熟人介紹或業務強力推銷下，將多年積蓄甚至企業周轉資金投入其中。然而隨著總部異常、理財逾期與高層動向曝光，這層光環迅速崩塌，外界開始重新審視其所謂「實體黃金金融模式」的真實性。目前，部分投資人已開始聯合報警或尋求法律途徑維權，相關監管部門是否介入調查，也成為輿論關注焦點。有金融法律人士指出，若企業在理財銷售過程中存在虛假宣傳、資金池運作，甚至未實際配置對應資產，恐涉及非法集資或詐欺等嚴重法律風險。

這起「黃金理財爆雷」事件，再次凸顯在經濟下行與資產焦慮加劇的背景下，打著實體資產、貴金屬保值旗號的理財產品，往往更容易讓投資人放鬆警惕。一旦企業內部治理失衡或資金去向不明，所謂的「黃金保障」也可能只是紙上承諾，而真正承擔風險的，仍是毫無防備的投資大眾。

A mainland Chinese company once widely regarded as a leading player in the gold industry, Jinyafo, has recently been thrust into controversy after reports emerged of overdue payments on its wealth management products. The revelations have shocked investors, particularly after it was discovered that the company’s headquarters had been almost completely vacated, with offices largely emptied and staff nowhere to be found, further intensifying fears over the firm’s financial stability.

According to multiple affected investors, Jinyafo promoted its products as “physically backed by gold” and marketed them as high-end precious metals investments. These claims attracted wealthy clients willing to commit substantial sums. Some investors reported putting in more than 7 million yuan, yet astonishingly, they never once saw the physical gold that was supposedly tied to their investments. Contracts and supporting documents were often limited to internal receipts or digital records, raising serious concerns once the products matured and redemption failed to materialize.

What has fueled even greater outrage is the fact that while Jinyafo has been struggling with liquidity issues and investors have been unable to recover their funds, the company’s chairman reportedly went ahead earlier this year with the acquisition of a listed company. This move has led investors to question whether there was any misappropriation of funds or improper related-party transactions, and it has significantly undermined confidence in the company’s financial transparency and internal controls. Many investors expressed deep frustration, noting the stark contrast between their inability to reclaim principal and returns and the company leadership’s continued capital expansion.

In the past, Jinyafo had branded itself as part of a “Fortune 500–level gold enterprise system,” emphasizing its scale, background, and industry standing in promotional materials. This carefully crafted image of stability and credibility played a crucial role in convincing investors to commit their life savings or corporate working capital, often following recommendations from acquaintances or aggressive sales pitches. However, as reports of overdue products, an abandoned headquarters, and questionable executive actions surfaced, the company’s carefully maintained reputation quickly unraveled, prompting widespread reassessment of the authenticity of its so-called “physical gold financial model.”

At present, groups of investors have begun coordinating with one another to file police reports and pursue legal remedies, while public attention has turned to whether regulatory authorities will formally intervene. Financial and legal experts have warned that if the company engaged in misleading marketing, pooled investor funds, or failed to allocate corresponding physical assets, it could potentially face serious legal consequences, including allegations of illegal fundraising or fraud.

This “gold investment collapse” serves as another stark reminder that during periods of economic uncertainty and heightened asset anxiety, investment products branded around tangible assets such as precious metals can lull investors into a false sense of security. When corporate governance breaks down or fund flows become opaque, the promise of “gold-backed protection” may exist only on paper, leaving unsuspecting investors to bear the real risks and losses.