Note: This article was first published on July 14, 2017
The financial factory was launched in 2012. After several “changing hands”, how did the financial industry perform as a whole? The author conducted a comprehensive evaluation analysis of the financial industry.
First, the basic information of the platform
National Enterprise Credit Information Public Announcement System Query Result
The financial industry workshop was operated by Beijing Dougou Investment Management Co., Ltd., and the platform was formally launched on July 1, 2012. The national enterprise credit information disclosure system inquires that the registered capital of the financial industry workshop is 10 million.
August 11, 2014 Hong Kong-listed company, China Credit (08207.HK) Announced the acquisition of a financial factory. On March 30, 2017, China Credit sold a 100% stake in the financial industry and took over Decade Elite Global Limited, priced at HK$5.8 billion. , equivalent to RMB 515 million. The equity sale will be conducted in three phases and will be completed by the end of September this year. According to the 2016 annual results report disclosed by China Credit, the turnover of financial institutions was 7 billion yuan, an increase of 89% over the same period of last year. As of December 31, 2016, the number of registered users of financial institutions was 940,000, including 208,000 new users in 2016.
According to official website data, as of July 4, 2017, the trading volume of the platform was 18.645 billion and the loan balance was 1.445 billion.
According to public information, China Credit is an Internet financial business unit under the Pioneer Financial Group. The main platforms include Netson Financial, First Home Loan, Palm Capital, and Pioneer Payment. According to industry insiders, China Credit sold its financial factory because of its orientation and the convergence of NetBank's financial management, and the Group must concentrate on developing NetBank financial management.
At present, the shareholders of the financial industry have changed to Shenzhen Elephant Internet Development Co., Ltd. (79%), Wei Wei (7.00%), Kang Zhongqin (7.00%), and Cui Haichen (7.00%).
Second, the operating model and products
The financial workshop splits its business into two platforms, namely, the online loan business workshop Microgold and gold exchange business workshops enjoy:
1, factory micro-gold
The factory Microgold is managed and operated by Beijing Phoenix Credit Management Co., Ltd. and is positioned as an online loan platform. The products include: Lee Sukang (personal or corporate direct financing projects); friend loans (property mortgage projects); consumer loans (consumption phased financial services project).
Lee enjoys that the borrower is a company or an individual, and the purpose of the funds is the operating capital turnover and personal consumption of the company. The loan period is 30 days to 1 year, and the expected annualized interest rate is 5% -10%.
The Friends Credit Project cooperates with Shenzhen Shifang Credit Information Technology Service Co., Ltd. to provide personal real estate mortgage financing services. All the mortgaged properties in the friendly credit project are pledged to the guarantee company. The amount of the loan for each subject is relatively large. The author finds that the platform has not been released since February 17 this year.
The consumer loan projects are provided by third party asset providers such as IPO Singularity, Shoushan Assets, and self-owned cash lending brands. It is the main asset type of the current platform. The loan period is 3 months to 36 months, and the expected annualized interest rate is 5% -14.5%. Judging from the above sources of assets, although the platform was sold by China Credit, the asset provider is mainly a subsidiary of China Credit.
2, factory enjoyment
The factory enjoys exclusive operation by Beijing Joint Ivy Asset Management Co., Ltd. The main product is the exclusive plan, which is connected with the Tianjin Financial Asset Exchange and the Dalian Financial Asset Exchange.
The Notice on Clearing up and Reorganizing the Internet Platforms and Various Trading Sites for Engaging in Irregular and Infringement Businesses issued by the Office of the Leading Group on Internet Financial Risks is mainly aimed at splitting and transferring the income rights and breaking through the red line of 200 people in disguised form. Requiring the local rectification office and central bank branches to stop cooperation with various types of trading venues before July 15, 2017 in order to increase the number of illegal and irregular businesses that are suspected of breaking the red line.
Project Details (Exclusive Program - W0000596 as an example):
The project financing party is Shenyang Hengtaisheng Food Co., Ltd., with a loan amount of 1 million, a term of 7 months, and an expected annualized return rate of 9%. The fund is used by the company and the repayment source is the operating income of the company. The information of the borrowing company is only a simple text description. The security protection disclosure is guaranteed by the Joint Venture Guarantee Group Co., Ltd. However, the specific guarantee letter was not disclosed. In general, the disclosure of platform project information is poor.
In addition, the target loan amount is 1 million, and the initial investment amount is 1,000 yuan. It is not possible to guarantee the 200-person limit condition, and after the platform is full, the investor who is not the target can not view it. Therefore, the total loan amount of the borrower cannot be judged. From the point of view of the “Dalian Wanmu Agricultural Machinery and Equipment Co., Ltd.” borrowing company, the platform issued multiple borrowing bids for the company in July, so the platform has a demolition bid.
In the financial industry, all loan projects are guaranteed by the guarantee company. The most important one is the Joint Venture Guarantee Group Co., Ltd. Prior to the change of the shareholders of the Financial Institutions, 100% of China Credit was held, while Zhang Zhenxin, Chairman of the Joint Venture Guarantee Group Co., Ltd., was also the controlling shareholder of the original parent company of the platform (China Credit). Therefore, before the change of shareholders, the platform has a related guarantee. However, the homepage of Microgold in the workshop still advertises that it is owned by China Credit, and it is not known whether they have forgotten to change.
IV. Bank depository
Although the recent draft of online loan filings issued by Beijing does not require the localization of deposit funds for online banking platforms, the online loan platform needs to “select a banking financial institution approved by the city’s regulatory authorities to sign a depository agreement”, which appears to be lowered. The requirement for bank depository of online loan platform funds actually brings more uncertainty to the depository of the bank. What kind of bank can get approval from the Beijing supervisory authority will need to wait for the next step.
On October 20, 2016, the Huizhou Huishang Bank deposited funds on the financial factory. Investors' investment workshops and microsites and factory-exclusive products all need to open deposit accounts at Huishang Bank.
After the account is opened successfully, the user will get the electronic account of opening account Huishang Bank Co., Ltd. Hefei Huayuan Street Branch. Users can recharge their accounts through personal online banking, quick payment, Alipay transfer, bank transfer, etc., which is convenient for recharging.
In general, although the financial industry workshop is sold by China Credit, it still has a certain background strength when it cooperates with China Credit at the business level. Platform large enterprises borrow money to take the gold exchange model, the future will face some pressure for rectification. In terms of online loan compliance, the platform launched Huishang Bank depository. The factory's micro-gold is mainly based on consumer assets, which is in line with small amount dispersion.
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