Winning the new financial era

Chapter 366 San Fernando Valley
It is not new that college students' "Guotiao" photos leak from QQ groups involved in online lending.

But yesterday, someone packaged 10 G of "Guotiao" photos and videos and posted them on Qiandu.com, and the personal information, contact information of relatives and friends, and private photos of 167 female college students were leaked.

Moreover, among the indecent videos that leaked from the Internet this time, many folders were marked as "borrowing shellfish".

This time, Zaidaibei learned the lesson of half a year ago, and released the "Announcement on Leaking Indecent Photos of Zaidaibei Online" through "Jiadaibei's official Weibo" in the early morning of the next day after the incident.

It is said that Zaidianbei does not provide the function of sending photos. The leaked photos this time are the result of packaging the "Guotiao" exposed in June.

Then this official Weibo was ridiculed by netizens.

"We do not produce water, we are just porters of nature!"

"Tools are innocent, and the responsibility lies with people. But the person who invented it also has an inescapable responsibility!"

"借し宝は直で十路っ照てください"

……

Hu Gang felt tired for a while. Ever since he started this lending platform, there have been constant incidents, and he has never been relieved.

First, billions of RMB were burned in vain, in exchange for hundreds of millions of zombie users;
Then he lost the bet, and compensated the other party for the 20 billion investment capital, not counting, and 3 million in interest;
Then there are campus loan incidents and Guotiao incidents.

Negative news continued to break out after borrowing money, and Handing Group, the parent company, also followed suit.

Partners, shareholders, creditors, and customers all have a lot of opinions on Handing Group, and they put forward their own opinions either implicitly or directly.

Most people asked him to stop the loss, close or sell the lending platform.

If it is closed, Hu Gang is a little bit reluctant, this is a project that has cost more than 30 billion yuan!

If it is sold, there is no suitable buyer for a while.

He asked Zhang Yida earlier, and offered a cost price of 35 billion, but the other party was unwilling to accept the offer.

As for the others, there were some who wanted to take over the loan, but none of them cost more than 10 billion.

Want to take over an Internet finance company with hundreds of millions of users with less than 10 billion?You are so beautiful!

Hu Gang decided not to sell it, so he slowly managed the lending company by himself. With the continuous prosperity of the Internet financial industry, the lending bank will shine its own light one day.

"Brother, the people of Ruixiang Group are so arrogant. Who is the major shareholder?"

Hu Gang's younger brother Hu Qiang started yelling after entering the door.

"what happened?"

Hu Gang frowned. His younger brother has always been a little reckless, and he is not mature at all at the age of 30.

"It wasn't about the underwriting last year. The CFO sent by Sharpxiang said that our procedures were not in compliance and belonged to related financing.

In addition, he also said... He also said that we were cutting leeks, which would damage the reputation of their Ruixiang Fund Supermarket. "

"Fuck"

Hu Gang cursed, "Isn't he meddling in his own business?"

"Who says it's not?" Hu Qiang said with a look of disdain, "Isn't it convenient for us to engage in capital operations when we obtained a public fund license?
To paraphrase Boss Jia's words, this is an ecological chemical reaction. "

Hu Gang is much smarter than his younger brother. After all, he was the director of the Securities Regulatory Commission.

"It's not as simple as you think. He, a small CFO, dares to speak like this to the major shareholder of Handing Group, and he must have something to rely on.

It should be that Ruixiang is dissatisfied with the way our fund operates and is protesting. "

"Didn't it be divided up at the beginning? Ruixiang's people are in charge of managing the currency fund and bond fund, and our people are in charge of the stock fund. Are they over the top?"

Hu Gang closed his eyes, and after thinking for a while, he slowly said: "Don't worry about this matter for now! Without Ruixiang, Hantai Fund would not develop so well.

Monetary funds, in particular, can’t do without Touronghui, an app with hundreds of millions of users. "

Hu Qiang had a displeased look on his face, could it just be that?You've been kicked on the nose by others, and you still pretend it didn't happen?

As if seeing through his younger brother's thoughts, Hu Gang said: "Be patient, Ruixiang is no longer what it used to be. They can abandon us and choose a new partner, but we can't."

Hu Qiang didn't dare to argue with his elder brother. He knew that his elder brother was a gentle man, but he said what he said.He nodded and backed away.

……

"Good trick! A year ago, I issued 100 billion privately with a valuation of [-] billion, and then suspended the license and welded the car door."

Zhang Yida looked at Lin Zhenyang, and said again: "Look at their third quarter report, the total assets are 815.67 billion yuan, and the total liabilities are 572.27 billion yuan.

Net assets of 243.4 billion, corresponding to a market value of 1024.5 billion before the suspension, a price-to-book ratio of 4.2 times.

With a total share capital of 150 billion, the net assets per share are only 1.62 yuan, while the stock price before the suspension was 6.83 yuan per share. "

"Hi~"

Lin Zhenyang took a deep breath, "Damn it, the stock price may drop by 80% after the resumption of trading?"

Zhang Yida glanced at him and said to himself, you are really right. Three years later, the resumption of trading will only bring down more than 100 billion.

"Handing Group has multiple financial licenses in securities, insurance, private equity, public equity, futures, payment, insurance brokerage, etc. Even if the license has a certain intangible asset premium, this is somewhat frothy.

And the bubble is not small, at least it can account for half of the market value. "

After sighing, Lin Zhenyang said again: "The past CFOs reported that Hantai Fund is very irregular, especially the stock fund."

Zhang Yida nodded, "Okay, I got it. Last year, Hantai Fund issued 3 asset management plans, raising a total of 12.3 billion yuan of funds to participate in the [-] billion fixed increase of Handing Group last year.

Have you calculated how much of the 12.3 billion funds was sold through Ruixiang Fund Supermarket? "

"According to the statistics, it's almost 4 million yuan!"

Zhang Yida looked unhappy, and said, "The fund assets held by these investors are estimated to be cut to the ankle. At that time, maybe these people will throw you on Rui Xiang's head."

"No way?" Lin Zhenyang was stunned, "We have marked high-risk products on the fund supermarket.

Fixed increase funds became popular last year, and everyone rushed to buy them at that time.It is impossible to blame our third-party agency for losing money! "

"The Internet financial platform never lacks these annoying things!"

Zhang Yida thought for a while, and then ordered: "Remove all Hantai Fund's stock fund products. From now on, except for currency funds, all cooperation with Hantai Fund will be suspended."

Lin Zhenyang scratched his forehead, "Is this really going to happen? We are also shareholders of Hantai Fund. If we do this, I'm afraid we will have to tear ourselves apart from Handing Group."

"Take stock funds off the shelves first and try their reactions!"

……

"This is Yimindai's financial statements for 14, 15, and the first three quarters of 16."

Chen Shaojie, CEO of Yimindai, asked his secretary to distribute the financial statements to the investors sitting in the conference room.

Wang Jingbo took the financial statement and read it carefully.

“14年度营收9700万元，净利润2250万元；15年度营收25.53亿元，净利润3.83亿元；16年前三季度营收37.06亿元，净利润4.82亿元。”

Wang Jingbo secretly delighted, this is a high-quality company!It has been profitable for three consecutive years, and both revenue and profit are still growing at a high speed.

"Beautiful financial statements, but there seems to be a problem."

Wang Zheng, vice president of Asia Pacific Investment Banking Department of Bank of America Merrill Lynch, raised his eyebrows and looked at Chen Shaojie.

"If there is any problem, Mr. Wang just point it out."

Chen Shaojie and Wang Zheng looked at each other, raised their arms, and said with a smile.

"The financial report for the first three quarters of this year shows that revenue increased by 121% year-on-year, but net profit increased by only 72%.

In other words, the net profit margin has declined.What is the reason? "

Chen Shaojie said calmly: "This is because Yimindai has started a large-scale expansion after obtaining a B-round financing of 3 million US dollars last year.

The increase in personnel and the large-scale placement of advertisements have caused a certain decline in net profit margins. "

Wang Zheng shook his head and said with a smile: "The increase in personnel is contrary to the concept of financial technology that claims to be efficient and cost-effective."

"At present, the application of financial technology is more reflected in risk control review, loan lending speed, and post-loan collection.

As for the front-end customer acquisition, although we are also using some technologies and network platforms to acquire customers.

But it cannot completely replace this link!What's more, what we do is scenario consumption installment, which is different from the general cash loan platform. "

"OK," asked Robert from Goldman Sachs, "Mr. Chen, can you explain the difference between China's cash loan and consumer installment platforms?"

"It's simple. Scenario consumption installments refer to loans with specific uses, such as education installments.

The borrower pays the training tuition through the loan, successfully learns a skill, finds a stable job, and repays the loan with a part of his salary every month.

It is similar to the tuition loan of college students in the United States!

As for the cash loan platform, the quality of their customers is much worse.

Because there is no specific purpose, even the loan is directly issued to the borrower.

They take the money, spend it wildly, and then there is no guaranteed source of repayment.

Consumption installments are different. We directly pay loans to institutions in consumption scenarios, such as schools and plastic surgery hospitals. "

Asks Morgan Stanley's Evans: "I can understand the loan to learn a skill, get a good job, and have a secure source of repayment.

After plastic surgery, can the source of repayment be guaranteed? "

"Mr. Evans, you don't understand China's national conditions. As long as a girl is beautiful, it is a capital in itself.

They can be anchors and Internet celebrities, earning tens of thousands or even hundreds of thousands of income every month.

Or find a rich boyfriend who will help her pay off the loan.

You can also work in bars, and the income is quite high. "

Evans nodded, "I see, it's a genius idea. I think your model can be copied to other countries.

I can go to the San Fernando Valley to make a movie after paying off the loan. "

Chen Shaojie laughed out loud, this foreigner really draws inferences from one instance and draws inferences from another.

Wang Jingbo, the only woman present, spat, it was like a dog mouth could not spit out ivory.

(End of this chapter)