I Won a Prize of 100 Million at the Beginning, and I Became a Capital Boss

Chapter 187 Xiaopin business is online!

After attending the celebration banquet of the crew of "Ode to Joy", Zheng Wentong and Bai Xiaolu attended the finale banquet of "Ordinary Glory".

Xu Ru was helping Zheng Wentong greet the crew, seeing Zheng Wentong and his girlfriend coming together, he was relieved, "The heroine and the chief producer are not here, and we can't be lively here, Mr. Zheng."

Director Lu Xing came over to toast Zheng Wentong with a wine glass, "Although Director Lu is young, he has quite good director skills. We have already got a few good scripts, which are very suitable for adaptation into web dramas, and we look forward to our continued cooperation."

Lu Xing took the lead, and the actors took turns to toast. Zheng Wentong first encouraged Zhao Youting and his wife Gao Yuanyuan to learn Mandarin well. The mainland market is huge, and the original voice is definitely more popular than the dubbing.

When Wei Daxun arrived, Zheng Wentong sent out an invitation for the film, "Daxun, I heard from Producer Li and Director Lu that your performance in the film has indeed made a breakthrough. Noon Sunshine will make a movie next year. The reform and opening up gift film, called "Da Jiang Da He", is also our highlight next year."

"There is a character called Yang Xun, which is actually quite suitable for you to play. I will send you the script in advance, so you can study it carefully. Director Kong Sheng will also direct it. This is a rare opportunity, so don't miss it." Zheng Wentong said.

Wei Daxun obviously knew the gold content of director Kong Sheng and the tribute drama, and was very pleasantly surprised, "Thank you Mr. Zheng, just watch it!"

Zheng Wentong has seen the original version of Dajiang Dahe, Song Yunhui played by Wang Kai, and Lei Dongbao played by Yang Shuo are all brilliant. Although Yang Xun played by Dong Zijian played the cunning of the little guy, he didn't show the madness of the little guy after a successful career. It is indeed the most suitable candidate, but others have clearly expressed their unwillingness to act as a supporting actor in a TV series.Zheng Wentong decided on Wei Daxun after the next best thing. After all, the role of Yang Xun actually has a sense of joy, and Wei Daxun's character image actually fits the original.

"Ordinary Glory" finale dinner was over, everyone took a group photo together, Zheng Wentong and his girlfriend were still standing in the C position.After the group photo was over, there was another episode. The waiter at the Peninsula Hotel recognized Bai Xiaolu and asked Xiaolu to sign for her. Because the waiter was holding a blank piece of paper, Zheng Wentong refused for his girlfriend. Finally, Bai Xiaolu and the waiter took a group photo alone to comfort her. Look at the fans.

Bai Xiaolu posted the finishing copy of "Ordinary Glory" on Wei Toutiao, "Hope is always a little more than disappointment, and every end is a starting point. "Ordinary Glory", happy ending!"

"Ode to Joy" had a rating of over 2 on Dragon TV, with a market share of 6%, and Blueberry Channel's ratings also exceeded 1.5%, achieving a perfect ending.Blueberry Channel has officially announced that Bai Xiaolu will appear in the fourth season of Running Man and record a variety show as a flying guest.

Yang Zi and Bai Xiaolu have already flown to Daocheng Yading to record the first episode of the first season of "Longing for Life". The guests of this episode are Gao Yalin, Zhang Yishan, Yang Zi and Bai Xiaolu.Yang Zi and Bai Xiaolu planned to go on a trip first, and then recorded the variety show by the way.

On May 5, Pinduoduo users discovered that the APP had launched a new function called Xiaopin.The vast majority of users will grant a small amount of credit, ranging from 15 yuan to 500 yuan.

Some Alipay users immediately understood, isn’t this the Pinduoduo version of Huabei?When they buy things on Pinduoduo, they can pay through the small pin credit.After users click on the Xiaopin Quota and read the terms and conditions, they will know that Puhai Huaxin Microfinance Co., Ltd. provides this service.

Before Zheng Wentong got the license of Huaxin Small Loan, he had already thought about how to start the lending business.Of course, it is impossible for Zheng Wentong to open offline stores like Yixin Finance and engage in small loans with a maximum amount of 20.

Because this kind of loan has a long cycle and high risk, and more funds come from wealth management platforms, it is also prone to the risk of thunderstorms.

Hou Hongbo didn't understand why Zheng Wentong didn't buy the wealth management platform of sack wealth management together. Zheng Wentong was not interested at all. He had channels to solve the funds and even more channels to conduct business, so there was no need to make a fuss.

Before getting the small loan license, Zheng Wentong had already contacted Huang Zheng, expressing that he would launch the small business.Huang Zheng considered that if there is a small quota for Pinduoduo, it will actually be beneficial to both merchants and Pinduoduo. After all, it can increase Pinduoduo’s GMV and facilitate Pinduoduo’s further financing, so he agreed to this cooperation.

Huaxin Microfinance Co., Ltd. provides Pinduoduo users with Xiaopin services. Pinduoduo will open some user data to Huaxin Microfinance, including shopping records, delivery addresses, recipient addresses, etc.

Huaxin Microfinance and Pinduoduo signed a 36-month cooperation agreement to become the exclusive technology provider of Pinduoduo's services.According to the agreement, Huaxin Microfinance cannot disclose the data and personal information of Pinduoduo users to other companies in the slope system, and must strictly fulfill the obligation of confidentiality.

On the 1st of each month, a small bill will be issued, and the final repayment date is fixed on the 10th of each month.If it is consumption in the current month, after the small bill of the next month comes out, the bill will be paid off before the final repayment date without paying any interest.Like credit cards, there is a maximum interest-free period of 40 days.

If the user feels pressure to repay the bills of the current month, they can also choose installments. There are 3 installments, 6 installments, 9 installments and 12 installments. The handling fee for the 3rd period is 2.4%, 6% for the 4.2th period, 9% for the 6.3th period, and 12% for the 8.4th period.
For example, if a user spends 1500 yuan in the small amount, it will be repaid in three installments. Each installment should be 3 yuan, and the total repayment in three installments is 512 yuan.

If the user spends 1 yuan and repays the loan in 12 installments, then each installment should be 903.33 yuan, and a total of 10840 yuan needs to be returned, of which the first installment needs to be repaid 903.34 yuan.
Although Xiaopin’s benchmark is Huabei, Xiaopin’s handling fee is a little lower than Huabei’s. The handling fees of Huabei’s 3rd, 6th, 9th, and 12th phases are 2.5%, 4.5%, 6.5% and 8.8% respectively. %.
Huabei's quota is 500 to 50000, but Xiaopin's quota is 500 to 10000.For Pinduoduo users, the reason why they choose Pinduoduo is to buy cheaper products, so they will be more sensitive to prices.

Xiaopin users will highly overlap with Huabei users. After they use it for a period of time and pay in installments, they will feel that Xiaopin’s installments are actually cheaper than Huabei’s installments. This is Zheng Wentong’s conspiracy.

Alipay launched Huabei business in April 15, which is very popular among post-4s and post-80s consumers.Pinduoduo’s launch of Xiaopin business is actually a year later than Huabei.

Huaxin Microfinance focuses on small consumer loans. It does not provide cash loans, but gives Pinduoduo users a consumption quota.

The GMV of Pinduoduo in 17 was 1412 billion. The data for 16 has not been released to the public. However, Zheng Wentong, as a shareholder of Pinduoduo, knows something about it. In 2016, the GMV of Pinduoduo in the first quarter exceeded 150 billion yuan. The annual GMV is expected to Exceeded 700 billion.

Then from May to the Spring Festival, Pinduoduo’s GMV should be between 5 billion and 500 billion yuan. Assuming that 600% of the GMV is contributed by Xiaopin’s business, then Xiaopin’s cumulative loan amount in a year is also more than 20 billion yuan. .

The annual handling fee for the small fight business is 8.4%, the consumption is 1 yuan, divided into 12 installments, the annual handling fee is 840 yuan, and the average monthly fee is 70 yuan.

Because the repayment of principal and interest is in equal installments, the actual annual interest rate has exceeded 15%. Assume that there is a 100 billion amount in the 50 billion Xiaopin loan, and the user chooses installments.Then, according to the annual interest rate of 15%, it can actually bring more than 7 million yuan of interest income to Huaxin Small Loan. The revenue of RMB 7 million has already surpassed most of the small loan companies. In 2015, China Transcript loaned nearly RMB 70 billion, and the company’s annual income was less than RMB 3 million. This is the gap in business model.

Like Huabei, Huaxin Microfinance also raises funds through ABS securitization. The ABS financing project of Huaxin Microfinance has been submitted for approval at the Shanghai Stock Exchange, and Huafu Securities issued it on its behalf. "Huafu Securities Xiaopin-To The Tenth Phase of Consumer Loan Credit Payment Asset Support Special Plan", the first phase of financing amounted to RMB 10 billion.

The so-called ABS securitization is a project financing method in which project assets are packaged, and the expected income that project assets can bring is guaranteed, and funds are raised by issuing bonds in the capital market.

Huaxin Microfinance actually packs the repayable bills that Xiaopin users need to repay in the next year, and then securitizes the assets.There is a famous saying in the old American Wall Street, "As long as you have a stable cash flow, then you can securitize its assets."The essence of asset securitization is to realize the future cash flow in the present.

ABS asset securitization must meet four conditions: the underlying assets are legal and compliant, the ownership of the underlying assets is clear, the underlying assets can generate stable, independent, and predictable cash flows, and the underlying assets implement the negative list system.

Therefore, the Xiaopin business perfectly meets these four requirements. Its assets are legal and compliant, it has a small loan license, and it can develop business legally.The ownership is clear, and the users owe Huaxin Microfinance the repayable accounts.The monthly repayment record of Xiaopin users is a stable, independent and predictable cash flow.

Alipay began to implement ABS asset securitization in April 16, and issued Huabei ABS and Jiebei ABS. With this precedent, the small fight ABS business submitted by Huaxin Microfinance will soon be approved.

Of course, some people may not understand that Zheng Wentong will only apply for 16 billion yuan in Xiaopin’s ABS since he expects the accumulated loans of Xiaopin’s business to be around 100 billion in 10.
In fact, those who have worked in the Internet financial industry can understand the mystery.Because users will repay each installment, after they repay the money, they can immediately lend it to other users to realize rolling recurring loans.If the cumulative lending scale of Xiaopin’s business exceeds 500 billion next year, Huaxin Microfinance will need to apply for the issuance of 50 billion Xiaopin’s ABS securities on the Shanghai Stock Exchange.

Zheng Wentong remembers that before the rebirth, Pinduoduo did not carry out a business similar to Huabei, and at most only used WeChat's service of "pay first and pay later".As long as you have enough credit points on WeChat, you can place an order on Pinduoduo first, and after you receive the product, you can deduct the payment from WeChat after confirming the receipt.

Later, when Ant Group went public, one of the most criticized points was that Ant Group used a principal of 30 billion yuan to repeatedly increase leverage, and Huabei issued a total of 3000 billion yuan in loans. Later, worried about risks, it stopped Ant Group's road to listing.

In fact, there is another important reason why the Shanghai Stock Exchange stopped the listing of Ant Group, which is that Ant Group has always positioned itself as a financial + technology Internet company, thereby obtaining a higher listing valuation.

The valuation of sci-tech Internet companies is generally 30 to 50 times the price-earnings ratio, while the price-earnings ratio of bank stocks is usually 8 to 10 times.According to the valuation of Internet companies, the market value of Ant Group is well over one trillion yuan. If it is valued according to financial institutions, it will be between 1500 billion and 2000 billion yuan.

Later, in order to prevent systemic financial risks, the Finance Committee stipulated that companies like Ant Group must apply for a financial holding group license. The first financial holding license was awarded to the large central enterprise Wing On Group, and Wing On Financial Holdings Co., Ltd. was established.

Zheng Wentong did not intend to copy an Ant Group. The registered capital of Huaxin Microfinance is 3 million. Zheng Wentong did not intend to increase leverage like Ant Group. After all, Pinduoduo has so many GMVs, and he cannot pass the small Pinduoduo. Business lending hundreds of billions.

Zheng Wentong will strictly control the scale of lending in accordance with the standards of financial institutions. If the self-owned funds of Huaxin Microfinance are 10 billion, then the scale of ABS will not exceed 100 billion, and the leverage ratio will be strictly controlled within 10 times. Self-restraint, Ease of compliance with regulatory requirements.

Zheng Wentong still hopes to help Huaxin Microfinance obtain stable operating income and profits through the small business, so that after next year, it will begin to meet the conditions for applying for a consumer finance company.

After the establishment of Huaxin Consumer Finance Co., Ltd., Weike Xinke has also obtained a third-party payment license by then.Zheng Wentong can officially start the cash loan business through Weitoutiao and Weiyin. The name of the cash loan product is called Weidai, with a maximum amount of 20 yuan and an annual interest rate of up to 21.6%. Compared with other licensed consumer finance companies' 23.9% The annual interest rate is much lower.

If the highest annual interest rate of 21.6% is used, then the daily interest rate is 10/12, the loan is 9340.2, divided into 112082.4 installments, and the repayment is equal to the principal and interest. The monthly repayment is 12100 yuan, and the total repayment is [-] yuan a year. The interest is less than [-] yuan.Moreover, the interest is calculated on a daily basis, and the loan can be repaid at any time, and there is no liquidated damages for early repayment.

In contrast, Zhongyanxin borrowed 10 yuan, and the annual interest is 23900 yuan, which is the annual interest after rectification.The highest interest rate of formal consumer companies is actually lower than that of all small loan companies and online loan platforms on the market.

For individual industrial and commercial households, small and micro business owners and ordinary netizens who cannot borrow money from banks, Consumer Finance Co., Ltd. is undoubtedly a better choice than small loan companies and online loan platforms.

So for many people, they actually hate that kind of routine loan or usury online loan.Alipay users are actually not disgusted with the Huabei business and the borrowing business. First, they are more flexible, and second, they can indeed solve urgent needs.

It can be said that the establishment of Huaxin Microfinance and the launch of the small pin business have allowed Zheng Wentong to complete 50% of his financial layout. Zheng Wentong's goal is to obtain a limited consumer finance license in 17 and a banking license in 18!
　Some modifications have been made to the follow-up plot to speed up the progress of the plot.Thank you for your monthly pass!Thanks and see you tomorrow.

　　
　
(End of this chapter)