Note: This article was first published on July 14, 2017.
The financial workshop was launched in 2012. After several changes, how about the overall performance of the financial workshop? The author conducted a comprehensive evaluation and analysis on the financial workshop.
First, the platform basic information
National Enterprise Credit Information Publicity System Query Results
The financial workshop was operated by Beijing Douge Investment Management Co., Ltd. The platform was officially launched on July 1, 2012. The national enterprise credit information disclosure system query shows that the registered capital of the financial workshop is 10 million.
On August 11, 2014, Hong Kong listed company China Credit (08207.HK) announced the acquisition of the financial workshop. On March 30, 2017, China Credit sold 100% of the financial workshop and took over the company Decade Elite Global Limited, priced at HK$580 million. , equivalent to about 515 million yuan. The sale of the shares will be carried out in three phases and will be completed by the end of September this year. According to the 2016 annual performance report disclosed by China Credit, the turnover of financial workshops was 7 billion yuan, an increase of 89%. As of December 31, 2016, the number of registered users of financial workshops was 940,000, of which 208,000 were added in 2016.
According to official website data, as of July 4, 2017, the platform turnover was 18.645 billion, and the loan balance was 1.445 billion.
According to public information, China Credit is the Internet finance business unit of Pioneer Financial Group. The main platforms include online banking, first mortgage, palm finance, and pioneer payment. According to industry insiders, China Credit sells financial workshops because of its positioning and convergence of online financial management. The Group should concentrate on developing online financial management.
At present, financial workshop shareholders have become Shenzhen Elephant Internet Development Co., Ltd. (79%), Wei Wei (7.00%), Kang Zhongqin (7.00%) and Cui Haichen (7.00%).
Second, the operation mode and products
The financial workshop has split the business and split it into two platforms, namely the online loan business workshop micro gold and the gold exchange business workshop:
1. Workshop micro gold
The factory micro-gold is managed and operated by Beijing Phoenix Credit Management Co., Ltd., and is positioned as an online loan platform. Products include: profit-seeking (personal or corporate direct financing projects); friendly loans (real estate mortgage projects); consumer loans (consumption staging financial services) project).
The borrower is a business or an individual, and the capital use is the business turnover and personal consumption of the enterprise. The loan period is 30 days to 1 year, and the expected annualized interest rate is 5% -10%.
The friendly home loan project cooperates with Shenzhen Haofang Credit Information Technology Service Co., Ltd. to provide personal property mortgage financing services, and the mortgaged property in the friendly home loan project is mortgaged to the guarantee company. The amount of each target loan is large, and the author found that the platform has not been released since February 17 this year.
Consumer loan projects are recommended by third-party asset providers such as Netcom Singularity, Shoushan Assets, and self-owned cash loan brands. It is the main asset type of the current platform. The loan term is 3 months to 36 months, and the expected annualized interest rate is 5% - 14.5%. From the above sources of assets, although the platform is sold by China Credit, the asset providers are mainly subsidiaries of China Credit.
2, the factory enjoy
The factory enjoyment is operated by Beijing Union Ivy Asset Management Co., Ltd. The main products are exclusive programs, and the Tianjin Financial Assets Exchange and Dalian Financial Assets Exchange products are docked.
The "Notice on the Cleanup and Rectification of the Cooperation between the Internet Platform and Various Trading Places in the Operation of Violation of Laws and Regulations" issued by the Office of the Leading Group for Special Remediation of Internet Financial Risks, mainly for the split transfer of income rights, breaking through the red line of 200 people in disguise, Require local rectification offices and central bank branches to stop cooperation with various trading venues to carry out the increase of illegal and illegal business suspected of breaking through the policy red line before July 15, 2017.
Project details (take the exclusive plan - W0000596 as an example):
The financing party of the project is Shenyang Hengtaisheng Food Co., Ltd., with a loan amount of 1 million and a term of 7 months. The expected annualized rate of return is 9%. The fund is used for business operations, and the source of repayment is the operating income of the enterprise. The information of the borrowing company is a simple textual description. The disclosure of security protection is guaranteed by United Ventures Group Co., Ltd., but the specific guarantee letter is not disclosed. In general, platform project information disclosure is poor.
In addition, the target loan amount is 1 million, the starting amount is 1000 yuan, and the 200-person limit condition cannot be guaranteed. After the platform is full, the target investor cannot be viewed, so it is impossible to judge the total loan amount of the borrower. Judging from the borrowing enterprise of “Dalian Wanmu Fang Agricultural Machinery Equipment Co., Ltd.”, the platform released a number of borrowing targets for the enterprise in July, so the platform has a demolition standard.
The borrowing projects on the financial workshops are guaranteed by the guarantee company. The most important one is the Joint Venture Guarantee Group Co., Ltd. Prior to the change of the financial workshop shareholders, China Credit was 100% owned, and Zhang Zhenxin, the chairman of United Ventures Group Co., Ltd., was also the controlling shareholder of the original parent company (China Credit). Therefore, there is a related guarantee on the platform before the shareholder changes. However, the home page of the factory micro-gold also promoted the credit of China Credit, I do not know if I forgot to change.
Fourth, bank depository
Although the online loan filings issued by Beijing recently did not require the localization of the fund lending platform of the online lending platform, the online lending platform needs to “select the banking depository agreement approved by the municipal regulatory authorities”, which seems to be lower. The requirement for the deposit of funds in the online loan platform has brought more uncertainty to the bank depository. What kind of banks can be approved by the Beijing regulatory authorities needs to wait for the next news.
On October 20, 2016, the financial workshop was funded by Huishang Bank. Investors investing in factory micro-gold and factory-exclusive products need to open a management account at Huishang Bank.
After the account is opened successfully, the user will get an electronic account of the Hefei Garden Street Branch of Huishang Bank Co., Ltd. Users can recharge their accounts through personal online banking, express payment, Alipay transfer, bank transfer, etc., and the recharge is convenient.
In general, although the financial workshops are sold by China Credit, they still have a certain background strength in cooperation with China Credit at the business level. Large-scale enterprises borrowing from the platform to go to the Golden Exchange mode will face certain rectification pressures in the future. In terms of online lending compliance, the platform has been deposited with Huishang Bank, and the factory micro-gold is mainly based on consumer assets, which is in line with small-scale dispersion.
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