Winning the new financial era

Chapter 162
"Mr. Zhang, as far as I know, it's more difficult to find institutions to get funds! Banks, trusts, and all the old men have their nostrils turned upside down.

Also, how to distribute the benefits?When there is a bad debt, who will cover it?

The leaders of state-owned enterprises are all masters who do not seek meritorious service, but seek to be innocent.

Let's just come to the door to discuss cooperation like this, it is estimated that there is nothing to do. "

Fan Hongyang shook his head again and again. In his opinion, Mr. Zhang's starting point was good, but it was too difficult to implement it.

"You are right. But we can't walk on one leg and pin all our hopes on Yimin financial management.

In case something happens to the P2P industry in the future, we will stop.

So we have to be prepared. "

Zhang Yida is very sensible, and has already started planning for transformation in advance.When an enterprise reaches its peak, it should consider transformation.If we wait until the decline period, the transformation will be too late.

"It can't be! P2P is so popular now. Some time ago, I saw a company put an advertisement on CCTV.

Now the capital market is optimistic about this industry, the state supports this industry, and users also like this industry.

This up and down, there is no one who does not say that P2P is good.

Now that mass entrepreneurship and innovation are in full swing, everyone's first choice for entrepreneurship is Internet finance.

Last year alone, more than 1000 new platforms were added, and three or five new platforms opened every day.

Even if they face national supervision and rectification in the future, they won't be beaten to death with one blow.

Taking ten thousand steps back, even if a group of companies are rectified and dismissed in the future, there will still be ten or eight companies left.

Among the ten or eight companies, our Yimin Wangjin is definitely indispensable. "

Fan Hongyang felt that Zhang Yida was too unreasonable to worry about the sky. Although there were voices in the society that P2P should be included in the supervision, the mainstream voices still agreed with it rather than against it.

"I have said before that when we do finance, we must always maintain a sense of awe. We are in awe of financial risks, legal risks...we are in awe of policy.

Look, how many P14P companies have been liquidated in 2 years?

I wish the country would take action to regulate now, so that the industry can still be saved.

In a few years, the risk will explode in an all-round way, and even gods will be hard to save. "

Zhang Yida was a little angry, so he simply said what was in his heart.Now the company maintains this kind of optimism from top to bottom, and they must be poured with cold water to wake up.

"No... No way! Mr. Zhang, you are so pessimistic about the future development of the industry. Then why do you want to start a P2P company?"

Fan Hongyang was also thinking about Zhang Yida's words. He felt that some companies were tarnishing the reputation of the industry, but they should generally operate in accordance with the law.

"When I founded Yimin, I mainly focused on accumulating strength in China in the early stage. After Yimin Wangjin was listed, we shifted our development focus to overseas.

Of course, we also have to hold on to the domestic plate.When the asset quality is under control, the bigger the plate, the better.

After we have enough total assets and revenue, we will go to get a consumer finance license.

In my mind, Yimin in the future must be a global Internet finance company. "

Zhang Yida stared straight at Fan Hongyang, who opened his mouth wide enough to fit a fist into it.

"Mr. Zhang... Do you mean to say that the country will take the licensed gold consumption route, and the foreign country will take the P2P route?"

Fan Hongyang calmed down and began to ask.

"Yes, this is the only way to go in the country. Those with license plates are the regular army, and the miscellaneous cards will only be eliminated.

In addition, in foreign countries, P2P, consumption installments, and consumer credit are all available, depending on local conditions. "

Zhang Yida knew very well which routes were correct and which routes were wrong.

He just wants to let Yimin Wangjin take the right path, and avoid the tragedy that happened to P2P peers in the previous life from being staged in Yimin Wangjin.

"Well, it must be great to have a consumer gold license. Then, do we need to vigorously develop our existing P2P business?"

Fan Hongyang was persuaded by Zhang Yida. After all, Yimin Wangjin is now running naked without a license, and the state has not directly said whether to supervise or not, and its attitude is rather ambiguous.

If the country wants to take action in the future, what will happen?It's hard to say!
The transition to licensed consumer finance is also a way out for Yimin Wangjin.

"We need to develop! How can we not develop? I predict that together with this year, the next three years should be relatively easy to develop.

After 17 years, it is uncertain what will happen in the future.

So in the past three years, on the one hand, we have to strengthen our own strength in China, and on the other hand, we have to deploy overseas markets.

In the future, if the domestic market fails, we will go overseas.Anyway, there is a way out. "

Zhang Yida said with a smile, no matter what the future holds, Yimin is sure to win.

"Well, the introduction of institutional funds is also an advance layout for the transformation of consumer finance?"

Fan Hongyang understood Zhang Yida's approach a little bit, and thought, how can he be so scheming at such a young age?

“Yes, there are several advantages to bringing in institutional money.

First, diversify funding channels and walk on multiple legs. If P2P fails, there is still money to lend.

Second, establish a good cooperative relationship with various banks and trusts, and deal with them in order to transform into consumer finance.

Third, maximize the business and increase revenue and total assets.Otherwise, the 600 billion RMB total asset threshold for sponsoring shareholders would not be within reach. "

"Uh... 600 billion? That's a long way to go. At least it needs to grow 20 times from the existing foundation."

Fan Hongyang smiled wryly.

"There is a way! Split + merge, if necessary, all the companies under Yimin Holdings can be reunited.

If the conditions are still not met, let Rui Xianglai.

But in the future, Ruixiang will lead or Yimin will lead, it depends on the efforts of a few of you. "

In fact, Zhang Yida prefers Yimin to take the lead, and the direction of sharp development in the future is technology and technology, and Yimin has stronger financial attributes.

"Hey...then we, Yimin, should work hard! Ruixiang is dedicated to high-tech, and is committed to benefiting all mankind.

We are still good at things like lending.Leave the dirty work to us! "

While rubbing his hands, Fan Hongyang smiled flatteringly.

"It's okay to give it to you, but the premise is that you must meet the shareholder threshold for setting up a consumer finance company.

Otherwise, I can't help it. "

Zhang Yida spread his hands and said.

"It can definitely be achieved, and there will be absolutely no problem."

Fan Hongyang began to fantasize about how to kill the Quartet after obtaining the consumer finance license.

"P2P is unlimited leverage, consumer finance is 10 times leverage, and online microfinance is 2-3 times leverage.

After all, the coolest thing is P2P! "

Fan Hongyang began to pray in his heart: P2P, you have to be strong!How can I live without you!

"Theoretically unlimited leverage, but don't you prepare risk reserves?
Moreover, the cost of capital is different. The cost of P2P capital is as low as eleven or twelve points, and as high as fourteen or five points.

If you spend money, although you can’t absorb savings, in addition to your own funds and shareholder deposits, you can also find interbank lending, issue financial bonds, and issue ABS. The cost of funds is only seven or eight points.

what does this mean?It can reduce the dimensionality of grassroots Internet financial companies.

We can only be high-quality customers with an annualized interest rate of 24% or even lower, thereby reducing bad debts and social negatives.

The best customers belong to the bank, and the second-tier ones belong to consumer funds. P2P can only be the second-tier of the second-tier.

If there is a "subprime mortgage crisis", think about it for yourself! "

Zhang Yida recalled the P2P thunderstorm in his previous life. Although part of the reason was that bad money drove out good money, the bigger reason was a problem with business logic.

With a capital cost of more than ten points or even higher, what is the lending interest rate?Thirty or forty?

Who will borrow such a high interest rate?

The customers who come to borrow this kind of money are basically people with no social security and no provident fund.

Then there is advocacy of "consumption upgrade" everywhere, come on, if you borrow some money, you will spend it on eating, drinking and having fun.

The source of repayment is not guaranteed, even if it can be repaid, it will be demolished to make up for it, and in the end, it will be full of debts, and then go to the rooftop...

Fan Hongyang is also thinking, borrowing so much money, if there is a slowdown in economic growth, trade wars, unemployment, etc., the picture is too horrible to imagine.

That's what it's like to do finance!Crisis is everywhere.

"Mr. Zhang, how likely is it that the state will strictly supervise P2P?"

Fan Hongyang began to believe Zhang Yida's words. The development in the past two years has been so smooth that he was indeed a little too excited.

"99%! The industry is now only more than 2000 billion in scale, and it is a certainty that it will break through trillion in a few years.

How could it be possible for them to mess around on such a large scale?
Moreover, the barriers to entry in this industry are too low. You can buy a set of website templates for tens of thousands of dollars, and you can start working with a few more people.

No entry criteria?There are no requirements for sponsoring shareholders, and no requirements for executives to have a financial background.

What is this like?Sooner or later something will happen.

Look at those offline wealth companies that ask grandpa and aunt to go to class every day, and even take grandpa and aunt to travel, isn't it just for the little pension in their hands? "

Zhang Yida was very disgusted with this phenomenon, and the more he talked, the more excited he became, and he almost scolded him.

"Then what should we do? Report our colleagues?"

Fan Hongyang smiled and shook his head. He felt that Mr. Zhang was still too young.

Zhang Yida opened his mouth and didn't speak any more.He is also considered a vested interest in this industry. He jumped out to sing the opposite tune and pour cold water on him, so he could only be surrounded and beaten.

After all, the country has not spoken out, so you Zhang Yida are nothing.

"Okay, okay, let's not talk about this. Let's take care of our own business!
Strictly control risks and treat users with trust. "

Zhang Yida said to Fan Hongyang.

"Well, how many banks should I try to contact?"

Fan Hongyang asked.

"Don't look for big banks first, look for rural commercial banks and city commercial banks, and the cost of funds within 10% can be followed.

In addition, tell them: We promise to cover bad debts, and if necessary, we can pay a 10%-20% security deposit.

With such generous conditions, some small banks must be tempted. "

Zhang Yida ordered.

"Okay, let's try it on a small scale first. The model can work, and then expand the scale."

Fan Hongyang felt that what Zhang Yida said made sense, he should not set limits on himself, and should explore more business boundaries.

"Take care! Let's ring the bell in the second half of the year!"

Zhang Yida thought that once Yimin Wangjin was successfully listed and its brand was improved, it would be much easier to cooperate with various banking institutions.

This can be regarded as one of the benefits of going public!
(End of this chapter)