Reports / Due Diligence
Is LongShine's EV-Charging RWA a Scam? Fact Check & Evidence
LongShine Technology (300682.SZ) completed a ~RMB 100M RWA financing in Hong Kong in 2024, backed by revenue rights from its EV-charging network — the first of its kind from Mainland China. It is a real, exchange-disclosed project, but "real" does not mean "you can buy it": it was privately placed to professional investors in Hong Kong only.
- ✓ The issuance is backed by both a listed-company disclosure and a regulatory sandbox record — not a concept-riding fake
- ✓ It was privately offered to professional investors in Hong Kong, China; Mainland retail has no compliant channel — anyone offering to "invest on your behalf" is running a scam
- ✓ Returns depend on charging-station operating cash flow; it is not a guaranteed-yield product
Bottom line
LongShine's EV-charging RWA is a real, issued project — not a scam. But its fame has spawned copycat "LongShine RWA wealth products" in chat groups that ARE scams. Verify each claim yourself below.
Evidence
| Evidence | Detail | Confidence |
|---|---|---|
| Listed-company disclosure | LongShine (300682.SZ) disclosed the ~RMB 100M RWA financing with Ant Digital Technologies on the Shenzhen exchange | High (statutory disclosure) |
| Regulatory sandbox | Part of the HKMA Project Ensemble tokenisation case series | High (regulator public info) |
| Tech partner | Ant Digital Technologies | High (mutual public statements) |
| Venue | Hong Kong, private placement to professional investors | High |
What to know
1. You cannot buy it as retail. Private placement to professional investors in Hong Kong, China only. Any group-chat offer to "co-invest" is fraudulent.
2. Yield is not guaranteed — it tracks EV-charging operating cash flow.
3. Not a stock recommendation — the financing is a corporate action, not an endorsement of LongShine shares.
Verify any RWA project yourself with our [Authenticity Check](/verify/) and read the [open methodology](/methodology/).
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*Fact check based on public information. Not investment advice. Verified 2026-10-19.*