(the picture offers: Panoramic vision)
Li Nan of Hu Qun of reporter of economic observation network encounters throughout history when domestic P2P the biggest crisis when, consumptive finance welcomed development opportunity however.
On August 23, happy letter (NASDAQ: LX) release 2018 2 quarters the financial outstanding achievement without audit. 2 quarters, happy letter user is achieved 29.2 million, record so that be not profit of net of general accounting standard 502 million (RMB, similarly hereinafter) , achieve the history new tall.
Late on August 24, interesting inn (NYSE: QD) release the 2nd quarter not audit money newspaper. 2 quarters total battalion controls interesting store for 2.244 billion RMB, grow 124.7% compared to the same period; Profit of the net after adjusting is 738 million RMB, grow 42% compared to the same period.
On August 27 evening, brief general science and technology (NYSE:JT) is released without audit Q2 money signed up for 2018. Company total battalion receives 490 million yuan of RMBs, grow 91.6% compared to the same period, annulus comparing grows 46.1% ; Income of credit card business soars compared to the same period 356% ; Big data wind accuses business to also have outstanding show, the income that drives service of etc of advertisement, sale grows 159% compared to the same period.
Yang Jiakang of CFO of interesting store group expresses, what as consumption sex of financial industry structure adjusts is ceaseless and thorough, company management layer is managed to what did not come and financial standing has sufficient hope, and forward the target of profit of the net after annual is adjusted 2.5 billion yuan advances steadily.
The personage inside the industry predicts generally, because net of P2P of 3 quarters home borrows industry risk to be exposed continuously, and capital requirement square, especially the financial demand of individual consumer still is in, this share requirement changes the part to consumption financial orgnaization, business of orgnaization of finance of this will farther stimulative consumption grows. Accordingly, superintending gradually below perfect setting, 3, the four seasons spends hopeful of afore-mentioned company outstanding achievement to obtain rapidder growth.
The backside that outstanding achievement grows
Award winner made an appointment with Nobel economics 2001 E of husband of a twenty-five-stringed plucked instrument. Sidigelici (Joseph E. Stiglitz) thinks, the success of an economy can adopt opinion of a kind of means only, the standard of living that sees most person namely then produced what kind of change inside lasting period of time.
All previous classics is close reforming and opening of 40 years, chinese economy already gained huge success, GDP of current China average per capita just exceeded 9000 dollars, but still put in structural unbalance problem, the good life that people grows increasingly needs and lopsided contradiction still exists between scant progress, and to a lot of youths character, this kind of contradiction is more intense: They are young impoverished however, their heart puts ideal to confront frozen reality however, they ought be the rich creativity, main force that change the world, trammels however the tall house price in the city, tall chummage...
The development that finance of benefit from benefit from innovates, consumptive finance is changing a destiny in the youth that help strength. Seek advice from data to show according to Ai Rui, our country 18-30 year old there is 68.2% to ever had been used in the youth consume in installment, the youth have not that has 21.1% additionally is used but support open attitude to this. The consciousness that young generation lead consumes also is mirrorred to the way that its consume, according to the first finance and economics one about the investigation after 80/90, it is when the commodity with higher unit price of face offset cost, the youth that has about 40% can choose credit card or Internet undertakes instalment.
This shows, the self-identity that young generation consumes to lead already evolved to appeal to for a kind of consumption beg.
Superintend as finance strengthen, p2P platform runs road, explode thunder is ceaseless. Since a few months, in capital market, stock of Internet banking industry goes force is small fan, the confidence of investor falls for a time to freezing point.
Value money signs up for season, 3 afore-mentioned orgnaizations that give priority to in order to consume financial business handed over a piece of beautiful exam paper, also brought a bright color for depressed market. But after money newspaper is released, the stock of 3 companies goes situation already formed differentiation.
Prices of happy letter stock
Prices of interesting store stock
Prices of stock of brief general science and technology
Although data of newspaper of interesting inn money is beautiful beautiful, but up to now, capital market appears to be not valued. If fine fractionize analyse, with respect to meeting discovery, the face has a good news and a bad news here.
Good news is, the net gain of 2 quarters starts interesting shop its history is new tall. The bad news is, part company after ant gold is taken, the ability winning a customer of interesting inn will get test. Future how? Real test is from the back.
Good news and bad news
Late on August 24, interesting inn releases the 2nd quarter not audit money newspaper. 2 quarters total battalion controls interesting store for 2.244 billion RMB, grow 124.7% compared to the same period; Profit of the net after adjusting is 738 million RMB, grow 42% compared to the same period.
Embellish all obtains the business income of interesting inn and net to grow substantially, effect sees at the beginning of the transition of before this also can give it from report of a respect one phase.
The income of consumptive banking business of interesting inn is 1.459 billion yuan of RMBs, 65.02% what hold gross earnings. End end of the 2nd quarter, service of the accumulative total banking that finish trades 150 million. Financial service revenue, sale is included in this part business commission income, punish orgnaization of breath, finance to match business income to wait. Interesting inn is aided borrow business to be 452 million yuan, grow 2913.33% compared to the same period, make engine of the 3rd big income.
Additional, the car of become known of new retail business that interesting inn began last year, the sales revenue first quarter is 546 million RMB, the 2nd quarter is 785 million RMB, annulus comparing grows 43.7% . The proportion that holds gross earnings is amounted to 35% . A total of new car consign 15082. Average pay time is car of 2 quarters become known 13 days.
Had held income proportion the car of 35% is new retail trade Wu, show interesting inn had fostered new point of growth. To this, CEO Luo Min expresses " special satisfaction " the expression of 2 quarters.
"We are right the performance of the 2nd quarter of company is very satisfactory. Our enrollment the impetus that user number continues to maintain steady growth, meanwhile, the core wind that includes exceed the time limit to be led inside accused index to get marked improvement. Current, consumptive banking industry of China is experiencing by the decay of superintendency drive, through promoting industry conformity, build healthy market environment, help industry is on the road of long-term development. After the market returns stability again, interesting inn is depended on closing compasses sex, fund end and innovate by science and technology of drive of big data, AI the advantage of the respect, will have better long-term gain capacity, will continue firm its lead a position in the market that consumes financial domain. " Luo Min says.
Nevertheless, notable is, the sale of become known car does not expect an end. According to the plan before, the sale target 2018 is 100 thousand cars, and first half of the year, accumulative total consign exceeds 15 thousand, go with target photograph very far.
Because the become known car of interesting inn wants next online building door inn, build consumption to experience setting, increased the devoted strength of capital greatly, make its cost medium also arrived of totle drilling cost nearly 6 into. As a result of the capital of interesting inn main source is orgnaization investor and own reserves, the heavy capital in car banking business is devoted, have to capital depend on higher. Money newspaper shows, 2 quarters interesting inn added partner of orgnaization of 8 finance that hold a card newly.
Cost of interesting inn whole 947.8 million RMB, grow 387.8% compared to the same period, interesting inn respect also expresses, main reason depends on the cost on business of become known car throwing.
On one hand investment of car banking industry is large, competition is intense on the other hand, cereal of Yi Xin group of congener company of city of competitor as above, Can, actor is believed. Still have for many times those who obtain financing is small borrow net, melon seeds car of two handcart, big search, enter newly bureau person become known car is not comfortable. Be based on the sale in finished state of current become known car, interesting inn has reduced annual to sell a target to come 25 thousand - 30 thousand.
Nevertheless, the risk control of interesting inn behaves stability, 2 quarters add loan exceed the time limit newly to lead under 1.0% , under 1.7% first quarter. But loan of the 2nd quarter is active number 4 million, drop 1.6 million.
Interesting inn and ant gold are taken
Network times, the most valuable resource is discharge. The disbursement that ant gold takes treasure from pay application make one's fortune, rely on clean out treasure and day cat, had developed become " multidimensional " , " useful " super entrance, exceeded even clean out treasure.
The action of super entrance does not need doubt, the entrance of small letter notes flow ecbolic spell great prosperity. Ant gold takes the course that borrows transition cash from campus in interesting inn in, take credit to oneself comes Wei. Specific the report before seeing our newspaper " " draw near big money " the market prise of one billion two hundred and fifteen million seven hundred and fifty-two thousand one hundred and ninety-two dollars of interesting inn He Luomin dreams " .
Ant gold takes the cooperation with interesting inn only then in November 2015. In September 2015, ant gold took investment to become a shareholder interesting inn. Main strategy regards as the partner later, ant gold takes the contribution of pair of interesting inn to basically depend on two respects, the wind that pays the discharge winning a customer of treasure the entrance and sesame seed credence namely accuses to choose a client.
The manual of raise capital by floating shares of interesting inn shows, "Ant gold is taken management service is provided for us in each respects, if because any reasons are restricted,ant gold takes the provides service such as this, prohibit, cut, loss of efficiency, rise in price, or it is to bring about our borrower to cannot be used, our business may get great and adverse effect. Our business may get great and adverse effect..
These influences are acting well nowadays.
As we have learned, ant gold takes the cooperative agreement with interesting inn this year the bottom expired in August. The reporter was examined, current, still can find interesting store in the project of tripartite service that pays treasure " come in installment " application. The mobile phone number that decides through paying treasure to bind registers application can, the conduct propaganda on the webpage is " 3 seconds examine and verify, fast careful borrows quickly at any time loan. Fast careful borrows quickly at any time loan..
And after once cooperate,the agreement is stopped, interesting inn will not pass the applied interface that pays treasure to develop borrower. Inn bearing an interest and ant gold take the effect that does not renew autograph cooperation agreement, interesting inn share price on August 23 dish in drop for a time nearly 20% .
Interesting store group shows, "Pay treasure App to accept an agreement " expire to renew the contract no longer, this is bilateral and collective business decision. Interesting store group says in money newspaper, begin first quarter, majority user all is in interesting inn interesting inn has App to be finished oneself trade. The personage that nears interesting store says, actually, the outside is unscrambled to what the agreement expires exceed situation of time of estate deal with concrete matters relating to work. Current, interesting inn already had the user cardinal number of 6689, be head and shoulders above current interest inn to produce the user number that consumes financial service actually. Interesting inn and pay treasure to there is collaboration in many domains, "Pay treasure App to accept an agreement " expire and cooperate without strategy of whole of influence both sides. Actually, it is early by last year, after cash borrows the announcement that consolidates business to allot, ant gold takes the diversion that tightened up pair of interesting inn, and ask its year change interest rate to must not exceed 24% . At present till, ant gold serves the large stockholder that remains interesting parlor, oppose a scale 12.8% , row the 4th.
Interesting inn respect, all the time firm the termination that calls collaboration the agreement won't produce distinct effect to the operation henceforth, because 2018 the data with 2 quarters is medium first quarter, the independence application that passes interesting inn finishs the loan of about 96% trades.
Nevertheless, kang Tan of interesting inn Home CFO Home Yang bear, some specific contract that issues through interesting inn and the cooperative agreement that pay treasure will register the new borrower that has 30% about. And the generation that the termination of cooperative agreement can make changes. "The APP that we have confidence to among them can the user of the half can use us next undertakes leasehold. "The APP that we have confidence to among them can the user of the half can use us next undertakes leasehold..
As we have learned, the cost winning a customer before interesting inn appears on the market is 30-40 yuan / , and the cost winning a customer of industry competitor is in 100 yuan at least / above. Before because be the same as the cooperation that ant gold takes, its market and cost of sales are occupied in what general branch goes out than, from 82% 2015, fall to 12.6% 2016.
Book of raise capital by floating shares shows, interesting inn is in pay treasure to enter the mouth not to collect fee. After March 2017, because ant gold takes tone to make contract provision, charge of interesting inn market is occupied than coming by 6.5% litres 9.5% . Interesting inn was mixed 2016 2017 first half of the year, take the credence that pays 6.2 million yuan to mix 11.3 million yuan to analyse cost to ant gold respectively.
Consume the backside that upgrade is discharge cost to upgrade, this also is brought about it is more and more difficult to win a customer, the cost that win a customer is higher and higher. After the collaboration that left ant gold to take and discharge guide, the gets new client ability of interesting inn how? Cost how? Whether should add a lunar month of 30 days to establish promotion channel? In addition, how to control a venture effectively or whether does wind accuse charge to you can increase considerably? These return unknown.
After leaving ant gold to take
Money newspaper shows, end end of the 2nd quarter, interesting inn registers user number to amount to 67.9 million, grow 41.7% compared to the same period. Nevertheless, the data with the closest anatomize, interesting inn registers a number 62.42 million person is by 2017, was 65.3 million person on March 31, 2018, was 67.9 million person on June 30. Can see, its add the amplitude of the user newly to put delay ceaselessly.
Future, besides increase win a customer besides, dish vivid existing user, lengthen user lifecycle, also do not lose a way.
"From the point of the user structure of the company, because 67 million user of company is medium, have user of 5 million loan only, average the leasehold amount of every usurer has 1400 yuan of RMBs only. We have very large growth space on loan user amount. Additional, borrower total line of credit was used only 60% . " Yang Jiakang says.
As a result of before, interesting inn uses one of methods that sesame seed credence accuses as wind. How to adopt wind accuse to future, yang Jiakang is confidence full: "Interesting inn is company of a big data, when evaluating capability of loan user reimbursement, sesame seed credence is one of 1000 factors that we consider only. Interesting inn developed his data technology to assess credit quality. From the loan first half of the year the rate that move equipment looks, be in all the time with the collaboration of sesame seed credence first half of the year continuously, the rate moving equipment first quarter is 3.2% , and in 2 quarters we introduce him company after the risk control of research and development evaluates an element, the rate that move equipment falls 1.6% , this shows the data analysis capability of interesting inn is very strong. This shows the data analysis capability of interesting inn is very strong..
Additional, the huge amount that interesting inn accumulates trades data, looking in Yang Jiakang also is advantage of a competition. "Current, the loan that the company had gathered 100 million class and repay trade record, user of loan of this pair of our understanding is very helpful, also be why the rate of loan exceed the time limit of interesting inn is in support level in the industry. Also be why the rate of loan exceed the time limit of interesting inn is in support level in the industry..
Of course, interesting inn has his vivosphere, and, do not have the ceiling far.
On July 26, go all out great land Nasidake, market prise approachs 30 billion dollar for a time, the month is active the user is close 300 million person. Although be put to death by the pen buccal cut down. Nevertheless, personage of the analysis inside course of study thinks, spell great success, more it is the success on the law of ability of business of successful and rather than on sociological meaning.
Investigate its reason, china has nearly 450 million person to was not brought into completely normal banking system, more than 900 million person still does not have loan record, so big group is potential client, they have huge consumer credit demand. Accordingly, the consumptive finance of the company of each other gold that is a delegate with interesting inn matchs business to still have very large development space.
2018 first quarter, interesting inn is average every commodity in installment trade the forehead is 1850 yuan. The user of interesting inn more it is the young user with strong desire of consumption of 34 lines city, offer a car to the youth of 345 lines city than if new retail service, this accords with its client group fixed position already, space of market of blue to what did not come also sea has clear knowledge.
Of course, there are opportunity and risk on business of become known car, "Future 2 still meet to 3 years of markets very big, pursuit gain means a risk necessarily, it is OK to go to we can be challenged susceptive risk. " Yang Jiakang expresses.
Year of sale target of become known car reduce from 100 thousand to 2.5-3 10 thousand. Yang Jiakang thinks this is to go after gain and the consideration that control a venture. "Every of 10 thousand car of our set is sold, add amount of loan M1+ exceed the time limit newly to have 20 or so only, it is very conservative. The strategy of the company is we do financing to rent only, the management pattern that hire is answered after doing carry out, hope future the 2 operation that reach 3 years are can last and but of gain. Hope future the 2 operation that reach 3 years are can last and but of gain..
From the point of current condition, run the become known car that afterwards throws, had not brought profit to interesting inn truly. Yang Jiakang expresses in telephone conference: "For the angle from gross profit embellish, we predict car of next month become known can become a cash shedding to be and the business of gain. We predict car of next month become known can become a cash shedding to be and the business of gain..
Analytic personage expresses to the reporter: "The prospective gain of become known car or origin two respects. It is, sell car a place difficult of access. 2 be, sell truckload earn price difference, it can take wholesale price into the car from manufacturer. It can take wholesale price into the car from manufacturer..
Cannot doubt, the rapid development of interesting inn, cannot leave the big setting of the times, cannot leave to borrow situation. Of course, the strategic eye of the person that several transition also reflects a Luo Min to steer a boat as the enterprise, before look up sex and crisis feeling. After leaving ant gold to take, interesting inn more needs aggrandizement oneself, fortunately it has shifted to an earlier date layout, professional work is not single.
Is the below one station of interesting inn met how? "There is a road originally on the world, the person that take became much also became a way. " actually, commercial society does not have a road originally, going, also became a way.
Future how, give the market and time.
