Winning the new financial era

Chapter 83 Split Yimin Financial Services
A freshly released semi-annual financial report and operating statement was placed in front of Shen Beipeng and Xu Xiaoming.

"Yimin Wealth has a turnover of 16 billion, with 14.8 billion to be collected.

The transaction volume of Yimin Wealth Management was 62 billion, with 16.5 billion pending.

Yimin Financial Services has a total revenue of 2.7 million yuan, user interest expenses of 1.3 million yuan, sales and advertising expenses of 9500 million yuan, salary expenses of 4000 million yuan, and net profit of 500 million yuan. "

The two looked at each other, knowing that Yimin was developing rapidly, but they still couldn't believe it when they saw the specific business data.

There should be no problem with this data, as it is stamped with the seal of the accounting firm.However, it will still be routine in the future, and the company's financial department will be arranged for a review.

Therefore, it is easy to check whether the data is true or false.However, based on their understanding of Zhang Yida, they would not mess with this little matter.

Shen Beipeng took off his glasses, wiped them, and said:
"78 billion turnover, 31.3 billion to be received. Your development speed is a bit beyond my expectation."

"Does Teacher Shen think it's fast or slow?" Zhang Yida also asked casually.

"It's coming! I originally thought that you would complete the bet in the second half of the year. It seems that I was wrong." Shen Beipeng said with emotion.

"Yida, we will arrange for the financial team to come and go through the process later. After the process is completed, the other 2500 million US dollars will be paid immediately."

Xu Xiaoming is a little excited, Zhang Yida has brought him another miracle, and Yimin has unlimited potential at present!
Zhang Yida nodded in agreement, and it was understandable for the venture capitalist to check the authenticity of the data again.And this data is also real and can withstand investigation.

"$2500 million, plus the $2500 million bet against each other, that's $5000 million. We got a total of 10% of the shares."

Shen Beipeng muttered to himself, then looked at Zhang Yida and said:

"I think Yimin's valuation is at least US$10 billion now!"

"That's right! The B round of financing is at least 10 billion valuations." Zhang Yida also smiled and catered. He understood what Shen Beipeng meant. They were at a disadvantage in the A round. Fry it up.

"When will the B round be launched?" Xu Xiaoming also interjected.

"At the end of the year! Let's talk about using up the 2500 million US dollars in hand!" Zhang Yida already has a specific plan in mind, and will start the B round of financing after the business layout is wider and the revenue is bigger.

"How do you plan, tell me." Shen Beipeng wanted to hear about Zhang Yida's next development plan for Yimin.

Zhang Yida didn't hide anything, and said everything like beans poured out of a bamboo tube:

"Strive in three directions, the funds to be received, the asset-side loan scale, revenue and profit.

Let’s talk about the capital side first. At present, there are three brands of Yimin Wealth, Yimin Wealth Management, and Ruimin Wealth Management.

Yimin Wealth will acquire fund sales and insurance brokerage licenses next, focusing on serving high-net-worth clients.

Create a full range of comprehensive financial services such as wealth management, overseas asset allocation, high-end insurance, and high-end education.

Yimin Wealth Management continued to deepen the P2P credit field, expanding the transaction scale and pending receipts.

Ruimin Wealth Management will serve as a supplementary channel for funds, forming a dual-brand operation pattern with Yimin Wealth Management.When the right opportunity comes, it will be spun off and operated independently. "

Pausing for a moment, observing Shen for a while, Xu and Xu reacted, seeing that they nodded repeatedly in agreement, Zhang Yida continued:
"Then let's talk about assets.

As an offline asset end, Yimin Puhui has completed store coverage in five provinces in North China and Sichuan Province.There are a total of 7 stores in 8 cities including Beijing, Tianjin, SJZ, Baoding, HHHT, Taiyuan, and Rongcheng.

In the second half of the year, we will continue to expand the coverage of stores in provincial capitals, strong second-tier cities, and ordinary second-tier cities.

By the end of 14, the annual goal of covering 49 major cities and building 50 stores will be completed.

As an online asset end, Yimindai will continue to focus on consumer finance.Expand consumption scenario loans, including education, tourism, house renovation, home appliances, automobiles and other types of installment business.

When the risk control model and asset quality are stable, let Yimindai access funds from other financial institutions, including banks, trusts, consumer finance, small loans, ABS claims and other financing channels.

While improving the stability of funds, further reduce the cost of funds. "

"Why do I feel that you are going to spin off several subsidiaries?" Shen Beipeng suddenly interrupted, smelling something unusual.

"Yes, Mr. Shen is really powerful, and he saw through my real intention immediately." Zhang Yida said with a thumbs up.

Looking at the curious eyes of the two, Zhang Yida said again:
"In the preliminary plan, Yimin Financial Service Group's business will be split into four segments.

Wealth management segment: Yimin Wealth.

P2P business segment: Yimin Wealth Management/Ruimin Wealth Management + Yimin Puhui.

Consumer finance platform segment: Yimindai.

P2P Public Welfare Section: Sannong Loans. "

Shen Beipeng was a little puzzled and asked:

"P2P is divided into two sectors? Commercial and public welfare?"

Xu Xiaoming thought about it and asked:
"One for the purpose of making money? One for the purpose of public welfare?"

Zhang Yida sighed and said:
"The current P2P asset side is too focused on personal consumption, housing loans, car loans and other profitable assets.

No one pays attention to agriculture, rural areas and rural finance.Because there is not much money to be made, the operation is also very troublesome.

The Grameen Bank model has developed very well in Bangladesh, and has made great achievements in poverty alleviation and support for rural construction. "

Shen Beipeng couldn't help shaking his head, and said with a serious expression:
"Sannong finance is not easy to do! Capital is for profit. If you want to do rural public welfare finance, it can be said that there are many difficulties.

First of all, because of its public welfare nature, the loan interest rate should not be too high.This determines that the cost of capital is low enough.

And the capital cost is low, how to attract funds to invest in this industry or project continuously?

If you can't make money, what can the company do to attract a steady stream of talents?And technology research and development? "

Zhang Yida understands these reasons, and later generations also know that the Grameen Bank model can be said to have developed unsatisfactorily in China.

"If you are poor, you will be good for yourself, and if you are rich, you will benefit the world." He can't be so noble.However, while earning commercial benefits, it is still possible to give back to the society to a certain extent.

"It cannot be said that it is all public welfare finance, this project will balance commercial and public welfare.

Guaranteeing the normal operation of the platform is the first requirement of business. It is not necessary to force profits, as long as the revenue is balanced and the project can continue for a long time.

Public welfare is not absolutely pure public welfare, and interest will still be charged on loans.It’s just that we will try our best to control the interest within 20%, and it will be gradually reduced according to the operation of the platform in the future.

Small loans for poor areas, I think handouts can discourage people or make people lazy, so that poor farmers can operate with capital.

Only when the poor have credit, goals, and motivation can they truly help the poor, and credit is their capital. "

Zhang Yida said all the words he was holding in his heart in one breath.

"Professor Yunus's method has indeed developed quite well in Bangladesh. It specializes in lending to the poor, supporting rural entrepreneurship, and improving the appearance of backwardness and poverty in rural areas.

Yida, I support you, and I am also very interested in this project. If there is a lack of funds, I can invest part of it for you. "

Xu Xiaoming encouraged him, saying that he is more emotional with a background in art, unlike Shen Beipeng, an investment banker with a background in mathematics, who considers issues first from a business perspective.

"Grameon is indeed very successful in Bangladesh. But after all, our national conditions and policies are different. Do you know what is the most difficult thing to land?"

Shen Beipeng couldn't stand it anymore, and was about to pour cold water on the two of them, and continued:
"The principles of modern economics focus on how to maximize the profit of the enterprise and maximize the return on investment of shareholders.

In a market economy, if an enterprise does not have this most basic goal, then the enterprise is either inefficient or eliminated in the fierce market competition.

In order for Sannong Finance to truly take root in rural areas, profit must be considered before poverty alleviation and public welfare. "

Shen Beipeng's words actually have one purpose:
Let the organization survive in the market first, and then talk about development.If you first consider public welfare and poverty alleviation, and don't have a steady stream of donations, then you will play yourself to death first.

"Yes, the most difficult thing is the sustainability of the model. Some of Grameen's projects in China have failed, mainly due to the unsustainability of the model."

Zhang Yida nodded, Shen Beipeng looked at the problem very rationally, and also hit the nail on the head.

"Think carefully about it first! Come up with a specific plan, as long as it can ensure the sustainable development of business interests and models, I can personally invest a sum of money."

Shen Beipeng made things very clear. After all, this kind of project is not as good as a commercial project that purely pursues the maximum benefit, and he will not let black shirts invest, and at most participate in his own name.

"Okay, this is just a prototype of my idea, and there are still many deficiencies that need to be improved. After the formal plan is formed, I will show it to the two teachers."

Zhang Yida looked at Shen and Xu and said.

Then the three discussed the issue of Nasdaq listing.

Xu Xiaoming looked at Zhang Yida with a happy face, and asked:

"Yimin is going to spin off P2P and log on Nasdaq next year?"

"Yes, Yimin Wealth Management and Yimin Pratt & Whitney are packaged and listed together.

Next year, I predict that Yimin Wealth Management may grow to tens of billions of revenue, and Yimin Puhui can also complete the laying of hundreds of stores.

The development of the enterprise will usher in an explosive climax, take advantage of this opportunity.We won the title of the first overseas mutual fund listed.

No matter how many mutual funds companies go public in the future, the first one will be the most memorable one. "

Zhang Yida said with a smile, squeezed his chin, and added:
"Yimin Wealth will be listed in 16, and Yimin Loan will be listed in 17. I plan to list a company every year in the next three years, and completely establish Yimin Financial Group's dominance in Internet finance!"

"Why split the listing? Isn't it better to go public together? The market value is larger and the resources are more concentrated." Xu Xiaoming asked a little puzzled.

"Avoid risk! Although P2P is not yet regulated, we have to plan for the future."

Zhang Yida frowned, his thoughts suddenly drifted away.Considering the regulatory environment in the next few years, it must be listed and deployed as soon as possible.

(End of this chapter)