Winning the new financial era

Chapter 515
Zhang Yida organized an unprecedented large-scale merger and acquisition in Southeast Asia. At the same time, the domestic P2P industry also ushered in its darkest moment.

In June alone, hundreds of platforms either closed down or ran away, with an average rate of three or four collapses a day, including many well-known tens of billions of platforms.

The past few years have seen platform failures, but most investors have taken them for granted.

After all, this industry is close to money and has low barriers to entry. Many wealthy bosses invest millions of dollars to buy a system, recruit a few programmers, and start issuing bids.

The funds raised are either used for their own other businesses, or used to speculate in stocks or land.

Of course, there are also some bosses who enter the market with the idea of ​​making a fortune and running away from the beginning.

These people die the fastest. After all, most Ponds can't die if they persist for a few months, and the life span that can be advertised may be longer.

This round of bankruptcies has exceeded the imagination of investors and is far more ferocious than any previous year.

Panic is also contagious, and Yimin Financial Management under Yimin Wangjin and Ruimin Financial Management under Ruixin Group have also been greatly impacted.

Affected by this news, the stocks of mutual funds listed in the United States plummeted all the way.

Yimin Wangjin fell more than 10% at the opening, and its stock price fell to US$14.

Yimin Wealth and Yimin Loan also saw declines, but not as serious as Yimin Wangjin.

Yimin Wangjin once went public under the name of "the first stock of mutual funds" and "the first stock of P2P", which has accumulated a lot of prestige and saved a lot of advertising costs.

But when the industry collapses, it is also the one that suffers the heaviest backlash.

It has been almost three years since Yimin Wangjin was listed. Except for Zhang Yida, the founder, and Fan Hongyang and Ding Siyao, the two co-founders, the other venture capital shareholders have basically cleared their stocks.

In the past three years, Goldman Sachs has deliberately raised the stock rating of Yimin Wangjin, just to facilitate shipments.

Zhang Yida personally cashed out a lot, and the time was mainly concentrated last year, when the market value of Yimin Wangjin reached tens of billions of dollars.

Through multiple rounds of shareholding reduction, transfer, and additional stock issuance, etc., nearly 3.4 million US dollars have been cashed out.

Before going public, it also transferred 9% of its shares to Goldman Sachs and took away 2 million US dollars.

Fan Hongyang and Ding Siyao also reduced their holdings, cashing out tens of millions of dollars respectively.

Yimin Wangjin Company has no shortage of money in its accounts. Through the IPO and additional issuance after listing, coupled with the steady stream of operating profits generated in three years, the book cash once exceeded 25.5 billion US dollars.

After spending US$11 billion on the acquisition of Gem Bank, there are still more than US$14.5 billion in funds in the account.

To deal with this kind of sudden crisis, having money in the account is the greatest confidence.

As the CEO, Fan Hongyang has spoken out through public channels many times to appease investors, and at the same time, he has also revealed the net worth of Yimin Wangjin.

Baoshi Bank is Yimin (Indonesia) Bank’s 55% equity value of 11 billion US dollars, Xinruixiang Group’s 4000/14.5 equity value is more than [-] million US dollars, and its cash reserves are [-] billion US dollars...

Although the trick is a bit vulgar, and it is not the first time to use it, it really works, and investors' mood quickly calmed down.

They don't need to believe in these assets, but can they still not believe in Zhang Yida, the richest man?

Compared with the calmness of Yimin Wangjin, Ruimin Financial Management under the Ruixin Group is much more hectic.

Because it was not listed, Ruimin Financial Management did not harvest any leeks, nor did it reserve a large amount of cash.

And because most of the funds are provided to the two cooperative companies of "Yimin Puhui" and Yimindai under Yimin Wangjin, its own "Xinglongdai" belongs to the supply chain finance, which develops very slowly and does not make much money money.

In addition, Ruimin Financial Management has always relied on Huimin Travel for its development. After the latter was sold to Didi, although it is bound by the contract, the cooperative relationship is still maintained.

But Chen Wei is not Zhang Yida, and Ruixin Group is not his own son.

Not long after this wave of thunderstorms occurred, Didi felt the crisis.

Because of the Zhengzhou stewardess incident in May, Didi suffered a lot of negativity and was criticized by the society, so it became very sensitive.

Now "deposit financial management" has become a time bomb around me again, and I don't know when it will explode.

Chen Wei called Zhang Yida urgently, he was very anxious on the phone, and asked Zhang Yida: "Tell me the truth, where did the funds raised by Ruimin Financial Management go?
Are you sure it all went to the three platforms of Yimin Puhui, Yimindai, and Xinglongdai? "

Normally, Chen Wei would definitely not be so anxious to get angry, and would ask cross-examination questions as soon as he came up.

But the situation was urgent, and he couldn't care less about these empty etiquettes.

If Zhang Yida really embezzled part of the funds to invest elsewhere, he couldn't even imagine the consequences.

Huimin's travel may be directly ruined, and the people will be regarded as a big liar, the kind who even cheated the deposit.

Didi will also be jointly and severally liable, and the brand will be damaged. No matter how serious it is, years of hard work may be wiped out.

When asked by Chen Wei, Zhang Yida also found it funny, and replied: "Do you think I'm short of money? Will I use that kind of high-cost funds?
I casually release some news, family offices, and various venture capitals can go from Zhongguancun to Xiong'an instinctively, what about me? "

Zhang Yida's soul question made Chen Wei calm down, and it was true after thinking about it.

Zhang Yida is the darling of the capital world. Raising some funds is as simple as eating and drinking, so he should not engage in those little tricks.

Besides, how big is Ruimin Financial Management, tens of billions of RMB.

It sounds like a lot, but I dare not embezzle all of it if I really want to embezzle it, and I have to reserve a large part for turnover.

"Yida, I'm sorry. I was a little excited just now. Please understand that Didi has encountered too many problems recently, and people's nerves have become sensitive."

Zhang Yida knew what the "difficulty" Chen Wei was talking about, so he didn't bother to meddle in other people's affairs. It was not his turn to dictate the direction of Didi's development.

"The P2P industry is going to break the ground. In just one or two months, hundreds of platforms have closed down, involving hundreds of billions of funds."

Speaking of this, Chen Wei asked again: "You are a good newsman, do you know the attitude of the higher-ups?"

Of course Zhang Yida knew what the attitude was, it was one size fits all.

But hearing what Chen Wei meant, it seemed that he had something to say.

Zhang Yida said calmly, "I don't know yet. I'm going back to China soon. I heard that the higher-ups will organize a meeting."

Chen Wei thought for a while and said, "Then you must convey the spirit of the meeting to me as soon as possible, Ruixin Group and Didi are also strategic partners.

If there are any situations and difficulties, the two of us can discuss and resolve them. "

Zhang Yida knew that Chen Wei was still worried about the tens of billions of deposit money, and said with a smile: "No problem, don't worry too much, Ruixin and their companies are all fine.

As long as there is no problem with the asset side, there will be no gap in the payment of the capital side. "

Zhang Yida said so, Chen Wei couldn't ask further.

Originally, according to his intention, he wanted to stop the deposit wealth management business directly, but because of the agreement, he dared not take the initiative to breach the contract.

After hanging up Chen Wei's phone call, Zhang Yida had another remote video call with Fan Hongyang and Fang Yuhan to learn about the latest situation of the two companies.

Zhang Yida still decided to go back to China. He handed things over to Grab to Lan Lan who had just arrived in Singapore, and she was responsible for continuing to follow up.

(End of this chapter)