2016-02-04 16:30
＂Break the rules＂ lending Jiuding treasure pyramid style promotion valuation 50 billion
Direct reporting network in Beijing in February 4th (China Economic Net) recently, produced and operated lending treasure platform for everyone line Polytron Technologies Inc (hereinafter referred to as all lines) signed a contract to complete the second round of financing". Allegedly, after the current round of capital increase agreement signed, the industry and commerce registration change is still in the process, and the current round of financing amount up to 2 billion 500 million yuan, more than 50 billion yuan for the valuation of all line. Compared to the first round of the August 2015 2 billion yuan financing, lending treasure in just five months to complete the larger second round of financing.
Public information display, borrow treasure is the Internet financial platform to build social by the country's top private institutions Jiuding holding effort. In this regard, Jiuding group said that everyone is lending technology treasure operators, and not Jiuding group affiliation.
Actually, in borrowing treasure was established shortly after, promotion of the viral in the early for its frequently create registered quantity highs at the same time, also let the MLM promotion model repeatedly questioned. However, the lending has not yet publicly disclosed the actual platform volume and revenue status and other related data, the effect of its acquaintances lending model how much market attention.
And just half a month ago, the loan has been reported to be suspected of illegal. According to the Beijing Daily reported, a micro channel, micro Bo ID are "Beijing nine uncle" said the current Jiuding investment Chairman Wu Gang suspected of illegal, etc. a total of 9. Beijing nine uncle also provides a number of the Commission accepted the report. Also said he was "threat of Jiuding investment". Since then, Jiuding investment announcement to fight back. Jiuding investment said that the report untrue, the Wu work properly, there is no received discipline inspection departments or other regulatory agencies in calling for an investigation of the situation.
Some analysts believe that the reason why "attack" lending treasure, may be directed to the investment jiuding. And over the past few years Jiuding always keep the radical, in the industry, "approach" the bold and different industry to think its by routine the cards ", breaking the rules.
"Push" Jiuding venture "lending treasure"
According to business reports, June 2015, a borrow in acquaintances for the characteristics of mobile Internet products "borrowing treasure" Heng Kong born, and was given the Jiuding "and then start" strategic position, Jiuding investment Chairman Wu Gang think through this product how to realize the "everyone to do the financial" inclusive financial industry blueprint.
Its play is quite attractive: the user as long as the registration App that access to cash 20 yuan, the user is promoted to a friend, users and friends have 20 yuan in cash...... Its unique business model sought after.
Borrowing treasure set in acquaintances lending and by the people in the Internet connection mechanism, make direct acquaintance with transaction, so as to effectively reduce the or even eliminate the information asymmetry, and acquaintances reputation constraints and credit punishment mechanism can effectively reduce the risk of default.
Lending treasure also said that their platform to adhere to the true pure platform positioning, and in line with the regulatory network for the location of the net loan platform information intermediary.
Following the August 2015 gains in the first round of 20 billion yuan of financing, in just five months to complete the larger of the second round of financing, financing amounting to 25 billion yuan RMB, valuation of five million.
For the assessment of valuation, insiders said that Internet banking business valuation of the valuation model value user method. Under this way of valuation, the valuation is enterprise users multiplied by the number of the valuation of certain proportion, borrowing treasure now boasts 150 million users, in the user, the user unit valuation reached 300 yuan, although higher but also not be to cannot explain. "Purely from the valuation method, the loan treasure of 50 billion yuan valuation has a certain objectivity. However, whether it is really able to achieve, but also according to the profit and development of lending treasure point of view. However, the current point of view, the possibility of short-term profit is small, coupled with the inherent drawbacks of acquaintances lending model, the valuation of 50 billion yuan still need more time to test."
Borrow treasure road to counter attack
According to China business report, compared with the August 2015 A round of 2 billion yuan of financing, lending in just six months to more than doubled valuation. However, the borrowing of treasure, but did not disclose specific list of investors, saying only that the current round of capital agreement has been signed, the capital of business change registration is in the process of handling, over a period of time can be through the industrial and commercial registration authority to the query.
Actually, in borrowing treasure was established shortly after, promotion of the viral in the early for its frequently create registered quantity highs at the same time, also let the MLM promotion model repeatedly questioned. In addition, despite the "burn" promotion, but borrowing treasure has not open platform for the actual volume and revenue of relevant data, the acquaintances lending model results exactly how much market attention.
According to the net loan 315 released the 2015 in the fourth quarter of P2P net loan industry research report "shows, December 2015 P2P platform app total active number (including Android and IOS end) ranked the first three is treasure of borrowing, the land of gold and pleasant loans, the number is respectively 198.16, 249.43 719.87 million people in the million people, million people. However, the number of active lending platform from the fourth quarter of 2015 began a sharp decline, from the end of the three quarter, the number of people fell to the.
It is worth noting that the B round of financing by a large joint-stock commercial banks, the round of financing, the valuation of 50 billion yuan. In the subsequent annual meeting of the company, borrowing Bao senior says that 2016 will launch lending Bao Enterprise Edition, through the platform, the depth of the connected businesses, individuals and banks, is committed to solve the problem of small micro enterprise financing difficulties, financing expensive.
In this regard, insiders said, just to get a new round of financing and the valuation of double, borrowing treasure announced the launch of Enterprise Edition, in a move that could is in the desalination of acquaintances lending model, and then to "borrow". "In the personal credit market is subject to greater uncertainty, to enter the higher income, the greater the amount of the enterprise market is undoubtedly a new market lending treasure. However, this lending model in the enterprise market risk and bad debt rate is undoubtedly higher, how to model innovation will be the greater challenge lending treasure."
"Attack" refers to the borrowing Jiuding sword
According to the investment times, lending treasure is under the P2P platform for everyone, in March 22, 2015 the same year in June 22nd beta, beta. The shareholder is a Klc Holdings Ltd and co-founder of Dagze Genesis Jiuding Jiuding Investment Center (limited partnership). Among them, the former accounted for 95% of the shares.
Borrow treasure at the beginning of the establishment of the Jiuding investment of 500 million yuan. On 12 August 2015 and borrowing treasure announced completed the first round of financing of 20 billion yuan, Jiuding said the 25 billion yuan, in addition to build platform, the remainder are to be used for market promotion. It is reported that in the field of P2P Jiuding not only set up a treasure of borrowing, previously had investment group lending network, Indus financial and other Internet related financial platform. In April 2015, Jiuding also invested 2 billion yuan to create a wholly owned Internet financial brand is the nine letter of the financial.
However, the wonderful business model also determines the lending is a treasure products get both praise and blame. In pursuit of applause and I also received a condemning. Even, was questioned as a pyramid scheme.
According to the Beijing Daily reported, in January 2015, a micro channel, micro Bo ID are "Beijing nine uncle" said the current Jiuding investment Chairman Wu Gang suspected of illegal, etc. a total of 9. Beijing nine uncle also provides a number of the Commission accepted the report. Also said he was "threat of Jiuding investment". But then there is the media devoted to the inquiry, but did not check the report to the letter.
On the same day, Jiuding group company Jiuding investment Cmi Holdings Ltd (stock code 600053) limit. Subsequently, lending treasure day issued a statement clarifying, and that was to discredit, and officially filed a lawsuit.
But more analysts believe that the reason why some people borrow treasure, "attack" may be directed to the Jiuding investment. And over the past few years Jiuding always keep the radical, in the industry, "approach" the bold and different industry to think its by routine the cards ", breaking the rules.
The market about the ability of assets operation
According to the investment Times reported, on July 18, 2014, Jiuding investment founded the first private background PE Department of public fund namely Jiutai Fund Management Co., Ltd., to enter the public fund management business. Jiutai funds registered capital of 1 million yuan RMB, Jiuding funds accounted for more than 99%, Tongchuang Beijing Jiuding Investment Management Co., Ltd. funded ratio of 1%.
In August 2014, Jiuding directed to issue stock to raise money 2 billion 250 million yuan, the total equity shares to 4 billion 73 million. In September 2014, the establishment of Beijing Jiuding black horse Ziqiang Cci Capital Ltd, enter the personal risk investment. A month later, Jiuding and initiated the first international fund JD international fund, I set up, LP, the main investment in overseas real estate and equity funds.
On October 20, 2014, Jiuding Group invested about 3.6 billion capital increase of Tianyuan Securities Co., Ltd., after the completion of the capital held Tianyuan securities 51% stake and achieve holding, Tianyuan Securities Co., Ltd. has also changed its name of Kyushu Securities Company Limited. Jiuding investment through capital holding a brokerage license, the first Department of PE securities company or securities official landing kyushu. After the capital increase of Kyushu securities except Jiuding holding 51%, original largest shareholder of Guangzhou securities holdings to about 39%, the remaining three shareholders aggregate shareholding of about 10%.
As the first new board PE companies, Jiuding group shares once from a high of 1 yuan per share price soaring to 950 yuan per share, fabulous existence but also make the market that Jiuding can not imitate and copy.
May 2015 Jiuding in Jiangxi Province, Nanchang City, Jiangxi Province, property rights exchange through electronic bidding, to 41.5 billion yuan film Zhongjiang 100% stake in the group, and therefore entered Jiang estate, holds the 72.37% stake. Jiuding again to create the "first", became the first case of three new board company to swallow A shares of listing Corporation.
But lookers Jiuding still attracted the attention of regulators. In May 2015, Jiuding group due to abnormal stock transactions, Chinese received notice of the Commission investigation
After a series of capital operation, the Jiuding group's including Jiuding investment, Kun Wu Jiuding, Jiutai fund, Kyushu securities, Fortis Insurance Hong Kong, nine of the trust assets, Morningstar plan, Huahai futures to the Czech Republic and insurance brokerage nine company. Is the establishment of the establishment of the nine insurance and the nine letter of the bank. It is understood that Jiuding affiliated with 21 fully owned company, 14 holding companies, two funds, a wholly-owned holding fund.
Jiuding group in 2014, the annual report showed that 2014 revenues of $6.88 billion yuan, an increase of 120.32%, attributable to the listing of the shareholders of the company net profit of 349 billion yuan, year-on-year growth of 12.5 times. In addition, its total assets in 2014 was $6919.1%, net assets of $. While the number of large growth rate, but its weighted evaluation of net assets yield of only 5.63%, down by 78.05%, which is not matched with the high growth of other figures.
Generally speaking, a company's net assets income rate to some extent reflects the profitability, Jiuding real asset management capabilities will undoubtedly make market worried and puzzled.
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