Has Kunming Junfa Real Estate stalled?

On May 3, on the "Leadership Message Board" of People's Daily, some customers of Yunnan local real estate enterprise Junfa Group Co., Ltd. (hereinafter referred to as Junfa Group) complained that they refused to refund the purchase price. The day before, some employees of Junfa Group complained that they violated the labor law and were not allowed to have May Day holiday.

Although the public relations staff tried their best to refute the rumor after Caijing Tianxia magazine asked Junfa Group for verification, the fuse of the crisis had already been lit.

Before the holiday, Junfa Group delayed the payment of a trust loan of 2190,000 yuan, which triggered a market storm. Facing the huge debt gap, Li Jun, the founder of Junfa Group, put out the fire urgently. On April 28, he took the initiative to hold a press conference to stabilize the morale of the army and announced that he would "take charge of the law again."

Like all roaring real estate developers in the 1990s, Junfa Group had its moments of high spirits. Li Jun's own business experience is even more legendary.