---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39466029.md"
description: "Bizarre news from the scam-ridden country: Weifang's state-owned assets are transferring a 30% stake in Shandong Maglev Transportation Technology Research Institute for a reserve price of just 1 yuan, reflecting the rapid fall of local industrial projects from "trillion-yuan blueprints" to "empty shells."The institute was established in 2022 based on a 10-billion-yuan maglev industry base plan, aiming for 10-billion-yuan output within a decade. Now, however, it has become an empty shell with zero assets, zero revenue, and zero paid-in capital, retaining only 3 employees and liabilities.Behind the state-owned assets' fire sale lies the need to cut losses under local fiscal pressure, also exposing the malpractice in some regions of "PPT investment promotion" and blindly chasing trends detached from industrial foundations. This case serves as a warning to real-economy enterprises: beware of the traps of policy hype and government endorsement. They must focus on market logic, technical feasibility, and industrial foundations, carefully assess cooperation risks, and avoid getting stuck in rootless projects.Netizen: Who said you can't buy regret or get scammed for just one yuan? This is a huge scam!"
datetime: "2026-03-24T00:03:53.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39466029.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39466029.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39466029.md)
author: "[浩浩小课堂](https://longbridge.com/en/profiles/19784218.md)"
---

# Bizarre news from the scam-ridden country: Weifang…