Winning the new financial era

Chapter 395 Fund Intermediary
"Mr. Long, how can there be so many secrets?"

Fang Yuhan naturally knew the intention of Zhang Yida's arrangement, but she dared not tell the truth!

What is the valuation of Ruixin Group, which has been spun off from Ruimin Financial Management, and can it be worthy of the status of unicorn?

Therefore, in order to obtain a sufficiently high valuation and sufficient investment, she can only bite the bullet and say that she is optimistic about the P2P business.

In fact, Long Yu's question hits the nail on the head.

Since it is optimistic, why not do direct sales business?
Fang Yuhan can only try his best to explain, "Consumer finance seems to be full of flowers, but in fact we have noticed some bad signs.

Campus loans, beheading interest, and high-interest consumer loans to people with unstable incomes.

If the market is run down by these unscrupulous businessmen, it will cause social conflicts sooner or later, and the regulatory agencies will definitely take action.

As for the small and micro finance at the B-side, because it is a difficult bone, few companies dare to do it, and they do it well.

The market is huge, but there are no decent competitors.

Compared with the consumer finance market, this is still a blue ocean, and it is a good time for Ruixin Group to sail broadly. "

These words attracted the attention of Mi Qun, Managing Director of Lightspeed China, and he said with a smile: "Mr. Fang, did you worry too much?

Although there are some phenomena of stepping on the red line in the consumer finance market, it is not to the point of anger and resentment, right?
Consumer finance is one of the most profitable financial businesses, and everyone is digging into it.

It's good for Ruixin, but he did the opposite.

Is this Mr. Zhang's idea, or Mr. Fang's idea? "

"Although consumer finance is good, it is a red ocean. If we do a good job in corporate finance and corporate credit investigation, our future achievements will not be inferior to Yimin Wangjin."

Zhang Yida said these words to Fang Yuhan, and now she repeated them to the investors present.

"In addition, comprehensively entering the field of corporate finance and credit investigation is also a strategy set by Mr. Zhang several years ago."

Why did Zhang Yida do this?A subsidiary company lays out a subdivided track?
Mi Qun thinks it’s not that simple. Both Yimin Wangjin and Yimindai are making a lot of money in the field of consumer finance, so there’s no reason for Ruixin Group to watch the fun from the sidelines?
Who thinks too much money?
The investors present are all typical three highs, "high education", "high EQ", and "high IQ".

Moreover, all of them hold the high positions of partners and managing directors. They have invested in more projects and become more sophisticated.

They did not rush to refute, but continued to test Fang Yuhan with words in order to obtain more information for pre-investment analysis.

"I think Ruixin Group can spin off Ruimin Financial Management and go public independently.

B-side businesses such as Xinglongdai, Weizhong Tax Bank, etc. are used as financing entities.In this way, management is also more convenient.

The company's business is also clearer and will not confuse concepts.

In the future, when people mention Ruixin Group, they will know that it is engaged in corporate credit investigation and corporate finance, rather than P2P finance from person to person.

This can greatly enhance user awareness of the brand. "

The proposal of Zheng Wei, a partner of Northern Light Venture Capital, received unanimous support from other investors.

"I think Mr. Zheng's idea is good, it can be considered!"

"Ruimin Wealth Management has such a large scale, it is absolutely possible to go public."

"Business still needs to be focused to do better and better!"

Fang Yuhan glanced at Zheng Wei, this abacus is extraordinary!

After splitting Ruimin Financial Management, the valuation of 10 billion yuan may not be reached by relying on Weizhong tax bank and Xinglong loan alone.

The lower the valuation, the more cost-effective it is for venture capital institutions to buy shares, and the higher the return on investment in the future.

Zheng Wei was mentioned by others as treacherous and cunning like a ghost. This was the comment given to him by his colleague Qiandu.

Whether he is great or not, you can tell from his resume at the beginning of college.

Aoki's master's degree, the chairman of the student union, a senior official of the graduate student group, a Ph.D. from Beijing University, the general manager of Qiandu Innovation and Development Department...

"Splitting...it's impossible to divide. If it is divided, where will the funds for Xinglong Loan come from?"

Zheng Wei answered, "It's simple, banks, trusts, consumer finance and other institutions can connect funds, and the cost is cheaper than P2P."

The "loan assistance" model has indeed begun to rise. Even Zheng Wei, a layman, knows that it is not too difficult to access bank funds.

Compared with institutional funds, the cost of P2P funds is indeed too high. Even Miaofenqi has gradually stopped cooperating with P2P and started to lend money from banks and trusts.

Fang Yuhan said with a smile: "Who knows what the future financial regulatory policies will be?

What if a paper ban comes down and institutional funds are restricted?
Do not doubt that this possibility is quite high.Chinese banks can be regarded as the most conservative banks in the world.

Yield is not the most important, safety first.

How many bank failures have you heard of in China?Very little!

Therefore, the funding channels still have to be in their own hands to be at ease. "

"Since we choose to be in the B-end market, I don't think we should miss the C-end market.

Mr. Fang, you are like this, which makes me doubt Ruixin Group's determination to do a good job in the corporate credit investigation market. "

Long Yu's words were unanimously recognized by other investors, after all, Ruixin Group's current valuation is too high.

The last round of financing was valued at US$10 billion, and now the volume of P2P business is not much less than that of Yimin Wangjin. Could it be that the valuation is US$100 billion?
Because Ruimin Financial Management does not have too much direct involvement in the loan market, its revenue and profit are much lower than that of Yimin Wangjin.

Moreover, most of the wealth management business of Ruimin Wealth Management comes from the diversion of Huimin Bicycle, and 75% of the profits are distributed to Huimin Bicycle.

Now Huimin Bicycle is selling itself again, which adds another unstable factor.

"What about the valuation? Boss Fang, please set a price!"

Mi Qun decided to listen to the valuation first before making further plans.

"$30 million!"

Fang Yuhan spit out a number lightly.

"I'm curious, how did this valuation come about?"

Facing Zheng Wei's question, Fang Yuhan didn't panic at all. Since he dared to offer this valuation, it was naturally targeted.

"The usual valuation method for P2P is the pending valuation method, which is similar to the GMV valuation method in the e-commerce industry.

Multiplying 320 billion to be received by 0.6 is 192 billion yuan, which is 28 billion in US dollars.

The combined valuation of Weizhong Tax Bank and Xinglongdai is not too much, is it? "

Fang Yuhan smiled, "It's not against Yimin Wangjin yet. If it's against Yimin Wangjin, it's more than $30 billion."

Mi Qun shook his head, "Boss Fang, that's not how accounts are calculated. Lightspeed China has invested in Pashoudai, and is no stranger to the field of Internet finance. You can't bully us for not knowing what to do!"

He went on to say: "Pashoudai has its own asset side, and for every 100 yuan of loans released, it can earn 40 yuan.

What about Ruimin Financial Management?It needs to be divided with asset-side partners such as Yimin Wangjin, and with diversion institutions such as Huimin Bicycle.

Calculated, the loan is 100 yuan, and the profit earned is less than 10 yuan. "

"Yes, Ruimin Financial Management is a fund intermediary, not a P2P company in the true sense, and the ecology is not perfect.

Most of the profits have been made by other partners, and the profit margin is less than one-sixth of Paidai. "

Although Long Yu is a woman, she speaks very forcefully, mercilessly lifted the fig leaf, and directly said that Ruimin Financial Management is an intermediary.

"That's right, P2P is originally an information intermediary, and it's not wrong to say that Ruimin Financial Management is an intermediary!
Don’t just look at how much profit Ruimin Wealth Management distributes to Yimin Wangjin and Huimin Bicycle. This kind of partnership is what many P2P companies can only dream of.

As the "No. 2" P[-]P company in China, Yimin Wangjin has the best risk control technology in the industry.

In addition, it also has a market value of tens of billions of dollars, and there are more than one billion dollars in cash in the account.

According to the agreement signed by Ruimin Financial Management and Yimin Wangjin, they will cover all bad debts.

This alone surpasses most of the domestic counterparts.

There is also Huimin Bicycle, how much free traffic have we obtained by cooperating with them?

When other companies are still troubled by the fact that hundreds of millions of advertising dollars per year cannot be exchanged for good enough advertising effects.

Huimin Bicycle, within two years, has brokered a transaction value of hundreds of billions for us.

If it continues to maintain this growth momentum, it will not be difficult to surpass Yimin Wangjin and Lufax.

There is a saying that "money gathers and people disperse, and wealth disperses and people gather together", I believe everyone understands what I mean.

It is impossible for a company to make all the profits. To realize a bigger dream, we must unite all the forces that can be united.

At the same time, there is another problem involved here.

The growth rate of Xinglongdai cannot catch up with Ruimin Wealth Management. "

Speaking of this, Fang Yuhan smiled generously, "There is nothing to hide, it is an indisputable fact.

In terms of corporate finance, due to the imperfect domestic infrastructure, it is impossible to make rapid progress like consumer finance, and it needs to be cultivated slowly.

In addition, Huimin Bicycle is also too powerful.

With so much money raised, they must not be allowed to sit idle. Exporting to external assets has become an inevitable choice. "

"I understand Ruixin Group's approach, but in this way, the concept and growth imagination are a little bit worse.

With this alone, it cannot support the valuation of 30 billion US dollars. "

Zheng Wei said with a smile: "Ruixin Group's last round of financing was valued at 10 billion US dollars, and Yimin Wangjin invested.

I can't comment on this valuation.But for this round of financing, I think our institutions need to calm down.

As far as I know, the size of Paishdai is half that of Ruimin Financial Management, but its valuation is only about US$10 billion.

And the revenue and net profit are even slightly better than Ruixin Group. "

Mi Qun took over the topic and said: "Yes, the revenue is more than one billion, and the net profit is more than 5 million."

"The interest rate of the clapping loan is a bit of an edge ball, and there are a lot of negative news."

After Fang Yuhan finished speaking, Mi Qun smiled and shook his head, "These are not important, the profit margin is high, the financial report is good-looking, and the business growth rate is very high...

Investors in the secondary market prefer to see these, and Paipaodai is just right. "

Other investors also echoed their words, saying that the valuation was too high to accept.

The negotiation was temporarily suspended, and Fang Yuhan reported the negotiation situation to Zhang Yida.

(End of this chapter)