Financial channel> Small financial evaluation> Which network investment "brokerage + listed companies + state-owned" background but the risk control and letter of approval to be improved

Which network investment "brokerage + listed companies + state-owned" background but the risk control and letter of approval to be improved

Edit: Lisa Source: Financial 360 original Date: 2018-02-13

Summary:

Has a "triple" background of brokerage + listed companies + state-owned assetsWhich network investment, After gaining 820 million yuan of financing of C giant of giant network of giant network, received widespread concern by net loan industry.

Which investment network in the end of 2012 on the line, the operating company for Shenzhen Wang Financial Information Services Limited. The largest shareholder of the platform is Giant Network Group Co., Ltd. Wholly-owned subsidiary of Shanghai Giant Network Technology Co., Ltd. On January 2, 2018, China Merchants Ziyuan Capital Subordinate Fund increased its capital to Wangjin Finance by RMB300 million. Upon completion It will hold 10.7143% of the shares of Wangjin Financial. Joker network equity ratio will be reduced from 40% to 35.7143%, but still enjoy 51% of the voting rights. Platform also brokers (GF Securities, a wholly owned subsidiary of GF Shun Tak) and state-owned (Bank of China Yue Fund) background. The main business of the platform is vehicle collateral. According to the data disclosed by the mutual fund association, the overdue amount posted by OCN in October 2017 was 224,396,600 yuan. The overdue rates and the overdue rates of the projects were 3.38% and 2.65% respectively.

  First, the basic information platform

  National Enterprise Credit Information Disclosure System query results

Which network from Shenzhen Wang Jin Financial Information Services Co., Ltd. operation, the platform formally launched by the end of 2012, the National Enterprise Credit Information Disclosure System inquiries show which network registered capital of 75,470,103 yuan.

In June 2014, WN.com won nearly RMB100 million Series A financing of GF Securities, a wholly-owned subsidiary of GF Securities. In April 2015, WMN received the 150 million yuan B from Daikin Heavy Industries (stock code: 002487) Financing. In the same year in December, cast which net access to the Bank of China Yue Fund strategic investment. In November 17, 2015, CNAF won the C-round financing of 820 million yuan from CJ Network Technology Co., Ltd. (wholly-owned subsidiary of Giant Network Holdings Co., Ltd. with stock code 002558) and holds 40% of the shares. At this point, which network founder Li Zhigang and Wu Xiangyong holding 13.59% and 24.13% respectively, a total of 37.73%. On January 2, 2018, China Merchants Guiyuan Capital Subordinate Fund increased its capital to Wangjin Finance by RMB300 million. Upon completion, it will hold 10.7143% of Wangjin Financial Equity. Joker network equity ratio will be reduced from 40% to 35.7143%, but still enjoy 51% of the voting rights. However, the platform has a weak background of state-owned assets, and the BOC Yue Fund held only 1.94% of the platform shares through the Guangzhou-Guangdong Platinum Investment Partnership.

The background of the platform shareholders is strong. Giant Network owns 51% of the voting rights. The shares of Founder Li Zhigang and Wu Xiangyong do not add up to much network. Therefore, operational risks and operating costs may arise due to different business philosophy during the platform operation.

Second, the platform executives

  Financial 360 according to which investment net official website information finishing

Which network official website disclosed information disclosure, platform executives have excellent academic background and work experience, platform, lower the potential moral hazard of executives.

  Third, operational data

Which net official website disclosure operation monthly report shows that as of November 30, 2017 platform total turnover of 47.942 billion yuan, the loan balance of 8.205 billion yuan, the data disclosed from the mutual association also shows that the platform by the "double-drop The impact of the loan balance declined from 9,026 million at the end of August to 8,205 million at the end of November. In November, the amount of brokered transactions was 19.45 billion.

  China Mutual Gold Association

Mutual fund disclosure data show that in October 2017, which network overdue amount of 224 million yuan, the project overdue rate and the amount of overdue rates were 3.38% and 2.65%, both compared with September increased. Although the overdue rate in November has dropped below 1%, the project overdue rate is still close to 3%.

  Fourth, the operating modes and products

Which network is currently voted Wangwang car loans, Wang Xin Loan, Wang car loans mainly to the car mortgage, Wang salary loans for personal credit. Apart from the superscript superscript superscript tender package of the project, according to the deadline is divided into peace of mind, peace of mind, six months Ann, the peace of mind, peace of mind plus and so on. The tender scope of these plans are Wang car loan, Wang salary loan. Wang car loans are the assets of the car loan assets, borrower vehicle registration certificate, insurance documents, vehicle keys and other related documents held in cast which network.

Wang car loan 171,206-627 period

Wang car loans 171,206-627 period amount of 77,000 loans, a period of 36 months, the expected annualized return rate of 11.8%, the purpose of borrowings for the cash flow. Disclosure of the borrower's gender, age, work, with a mosaic of identity cards, motor vehicle driving license and vehicle registration certificate and other documents, the platform for the loose standard borrower information disclosure more comprehensive.

[Peace of mind II-180104 period]

Year of reassurance II-180,104 expected annual rate of return of 10.4%, the investment period of 24 months. The project only describes the scope of the tender are the supply chain, Wang car loan, Wang salary loans, the platform claims that the program is an automatic bidding instrument, so before the investment can not see the actual borrower, the investment system to match the borrower, in fact, this It is counter-productive to view details of borrowers before investing in regulatory requirements.

  Financial 360 according to which investment net official website finishing

The platform will charge 10% of the interest income for each investment as interest management fee. The real profit of monthly security products is only 6.48% and the yield is relatively low.

  Fifth, security

There was a risk reserve before the platform, but to meet the regulatory requirements, the risk reserve was now canceled.

July 3, 2017 Shenzhen Finance Office issued the Measures for the Administration of Record and Registration of Information Loans of Internet Loans in Shenzhen (draft for solicitation of opinions), requiring that the major funds settlement accounts of the online loan platform should be opened in commercial banks in the administrative area of ​​Shenzhen Branches, and network loan platform to apply for record registration, with the Shenzhen administrative area with branches (including) above the level of commercial banks to achieve the funding arrangements. Which network cast in July this year, GF Capital Fund deposit line, in line with the provisions.

  Sixth, summary

With the triple background of "securities firms + listed companies + state-owned assets", it received wide attention from the net loan industry after obtaining a total of 820 million yuan of C-round funding from Giant Network. Platform deep car loan market, has a good market share, but the project overdue rate needs to be improved. In addition, the platform before the "peace of mind" product investment can not see the actual borrower, after the investment system to match the borrower, this setting with regulatory requirements before the investment can see the details of the borrower is contrary to.

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