"Lao Fan, how is the situation over there? Ruixiang, ICBC and Jingnong Commercial Bank have negotiated a credit extension of 4.77 billion yuan.
Yimin Wangjin needs to hurry up, we are expected to submit a prospectus to the SEC (U.S. Securities and Exchange Commission) in June."
On the phone, Zhang Yida was once again concerned about Yimin Wangjin's financing from the bank.
"Hey, how can Yimin Wangjin compare with Ruixiang? We don't have a parent company with a valuation of tens of billions to provide joint liability guarantee.
I contacted several small banks, and they expressed a certain interest in cooperation, but they were also a little worried.
After all, there is no precedent for this!”
Fan Hongyang has not been idle these days. Through various connections, he has contacted many bank leaders.
The other party told him: With online small loans as the main financing body, loans with the highest leverage ratio can be granted.
But beyond this, there are many obstacles to larger-scale financing.
Zhang Yida thought about it briefly and roughly understood what each bank meant. He wanted to make money but was afraid of being punished for illegal operations.
Suddenly, I had a new idea and said:
"If you do this, you will acquire a financing guarantee company to provide intermediary guarantees for the cooperation between Yimin Wangjin and banks.
In this way, the procedure will be smooth."
The current situation of Yimin Wangjin is that the supply of funds is insufficient and it is optimizing to reduce financing costs.
Compared with P2P's capital cost of more than ten points, the bank's capital cost of a few points can help Yimin Wangjin save a lot of costs and help improve corporate profitability.
"Um, does this count as a related guarantee? What is the upper limit of the guarantee?"
Fan Hongyang is an e-commerce operator and is better at Internet operation and management. Although he has gained a lot of knowledge about financial services, he is still not familiar with it.
Zhang Yida was going to teach him a lesson and said:
"Related guarantees are mainly used by listed companies to ruin their reputations. The major shareholders guarantee the listed companies, and the listed companies guarantee the major shareholders.
Now the new way to play is that listed companies provide guarantees for subsidiaries. While harvesting leeks, they also ruin their reputation.
China's credit system is not perfect, so many loans require a guarantor or guarantee company to increase credit.
We set up a guarantee company to guarantee our parent group, which is completely legal and compliant.
According to Article 28 of the "Interim Measures for the Administration of Financing Guarantee Companies", the balance of financing guarantee liabilities of a financing guarantee company shall not exceed 10 times its net assets.
The equivalent leverage ratio cannot exceed 10 times, that is, 1:10.
If you pool together the surplus funds of Yimin Internet Finance, you can make up one billion or eighty billion.
Just use 1 billion to leverage the bank's 10 billion in credit.
This 1 billion guaranteed funds must be frozen in the bank and cannot be touched, but the other 9 billion can be used for lending.
With a capital cost of five or six points, if you lend it at an annualized rate of 24 points, there will be an interest rate difference of eighteen or nineteen points.
It’s much more cost-effective than P2P. If the model works, I would like to replace all funds provided by institutions in the future.”
Fan Hongyang thought for a while and said: "That's wrong! I remember there is a rule in the guarantee company that the balance of guarantee liability for the same guaranteed party and its related parties must not exceed 15% of the net assets of the financing guarantee company."
"Hey, it would be nice if you approved a few more vests. Anyway, it's not like we won't pay back the money, or we can't afford it.
WeBank, MYBank, and Ali Small Loans all do this.
What we call this is giving full play to the strengths of financial technology and driving small and medium-sized banks to make progress together."
Zhang Yida sneered in his heart. In his previous life, his elder brothers took the lead in lending out hundreds of billions to trillions. The registered capital of his small loan company was only a few billion, and the leverage of hundreds of times was very smooth.
As soon as the regulatory agencies took action, the model was adjusted and changed to joint lending, with capital contribution on the 19th and separate accounts on the 28th.
The bank takes the big share and the financial technology company takes the small share. The big guys are very happy to cooperate.
Sit in a row and eat fruit!
"Then... okay! I'll talk to them based on your idea."
Fan Hongyang thought about it and felt that what Zhang Yida said was quite reasonable. It seemed that it was very necessary to open up channels for institutional funds.
After hanging up Fan Hongyang's call, Zhang Yida got up and left Ruixiang Company and went to DouShi Company.
About a hundred DouShi employees work together in a Grade A office building in Zhongguancun.
In order to provide convenience and provide employees with a spacious and comfortable office environment, Zhang Yida directly rented the entire 15th floor, covering an area of more than 1,500 square meters.
Since Dikvision is still in the early stages of research and development, Zhang Yida usually only comes here once a week.
Because the first test version has been made, Zhang Yida came over today to experience it for himself.
When we reached the 15th floor, we saw a huge music symbol, which was the logo of Dioshu.
DouVi product manager Zhang Lan stood at the gate early and waited for Zhang Yida. When he saw him coming, he hurriedly greeted him.
Zhang Lan was poached from Toutiao by Zhang Yida. In her previous life, she was the president of DouShi and was also a rare outstanding female product manager.
In 2014, she and Zhang Ming suggested making a short video APP, but it was never adopted by the other party.
It wasn't until the beginning of 2016 that Zhang Ming decided to make a short video APP.
Zhang Lan also lived up to his expectations. In 17 months, DouShi had 100 million daily active users, becoming the fastest product to reach 100 million daily active users after WeChat.
For this kind of talent, Zhang Yida couldn't bear to see her wasting her time anymore, so he directly poached her from the headlines.
Zhang Lan led Zhang Yida through the front desk and into the dirty and messy employee area.
Zhang Yida looked around and saw dozens of senior programmers who were either bald or wearing plaid shirts coding. All kinds of sundries were piled on the workstations.
Seeing this, Zhang Yida didn't say anything. These were the treasures he had entrusted a headhunter to dig out, and each of them had an annual salary of hundreds of thousands.
They like an open and free R&D atmosphere, so let them go.
When he arrived at the conference room, Zhang Lan took out several test mobile phones, all of which had DouShi APP installed, handed them to Zhang Yida, and said:
"Mr. Zhang, our team has downloaded hundreds of short video apps at home and abroad in the past two months, tried them all several times, and finally made this DouYu test version.
Take a look and give me your opinion!"
Zhang Yida took the phone and opened the DouShi APP, and a screen popped up on the homepage:
A girl is lip-syncing and singing.
"The foam under the sun is colorful.
Just like me who was deceived, I am happy.
What is right or wrong? Your lies are based on still loving me."
…
Zhang Yida took a closer look and saw that it was Zhang Lan. He was wearing makeup and almost didn't recognize it.
The video was very mediocre, incomparable to the long legs that I remembered from my previous life.
The video only lasted 15 seconds, and it was almost over. Zhang Yida paused and did not scroll down. He glanced at Zhang Lan and asked, "Did you take it?"
"Yes! As a product manager, I will definitely be the first to experience it!
If you continue to scroll down, our team has taken a total of more than a dozen videos."
Zhang Lan was very satisfied with her work and urged Zhang Yida to continue reading.
Thinking that Zhang Yida didn't understand the operation, Zhang Lan leaned closer to Zhang Yida. She swiped her middle finger on the phone screen, and the phone switched to the next screen, and said:
"Mr. Zhang, look, this is switching to the next video.
There are no redundant operations and pages, this is the "immersive experience" you want to create."
The next video showed a balding programmer lip-syncing and singing. The picture was so beautiful that Zhang Yida did not quickly scroll through it in order to experience the product, but watched it carefully.
The dozen or so videos that followed were all taken by DouYu employees, and Zhang Yida watched them all.
After reading it, Zhang Yida said nothing and began to think quietly about the advantages and disadvantages of the product.
"Mr. Zhang, what do you think? If you have any shortcomings, just point them out and I'll ask everyone to correct them."
When Zhang Lan saw that Zhang Yida didn't speak for a long time after watching the video, she felt quite cold. She thought the boss was dissatisfied and stopped talking.
"Oh...no, no. The UI is quite beautiful, and the APP responds very quickly, without any lag.
There are just a few videos, so I don’t know what the algorithm recommendation is like.
Another thing is that the functions are too single, such as video editing, BGM insertion, beauty functions, and special effects functions.”
To be honest, with the current version, Zhang Yida would not dare to bring it to the market, and he would definitely rush it off.
Short video began to develop in 2011. Now the mainstream players on the market include Kuaishou, Meipai, Xiaokaxiu, Miaopai, Xiaoying, Weishi...
Weishi was abandoned by Penguin last month, and I don’t know whether it will be restarted in the future.
In terms of users, there are not too many, and short videos are still in a relatively niche Internet segment.
"Modu Home Musical.ly, launched in April last year, is also a music short video community application.
However, unlike DouShi, their main market direction is in North America.
The main function of their product is: users can quickly create a 15-second MV by matching the video they shot with music from the music library.
Or choose your favorite hit song and create a music video through lip sync and body movements.
Next, you can study their products carefully and extract some advantages to our DouShi."
Zhang Yida gave Zhang Lan advice.
Musical.ly was launched in China and the United States at the same time in July last year, but the situation after its release was like ice and fire. It was almost unknown in China, but it became "the most exciting application for me" among young people in the United States.
It is the No. 1 product of its kind in the United States, and even popular stars like Lady Gaga and Baby Ariel are its users.
In its previous life, DouShi paid homage to Musical.ly in a “pixel-level” manner in terms of functions and interface, so it has been trapped in the “plagiarism” vortex.
In the second half of 2017, DouYi simply spent US$1 billion to acquire musical.ly.
After acquiring the other party, DouShi also used the other party's overseas market influence to go abroad in one fell swoop and create the popular overseas TikTok.
“music.ly? I have tried their products, but I don’t think they are that cool?”
Zhang Lan was a little unconvinced. Although he did not object to "learning from" others, he still indirectly admitted that his own product was not good.
“They are so popular overseas, so there must be some merits to them?
Put down your tactics and study hard!"
Zhang Yida smiled and said that although musical.ly's popularity in the United States was due to some luck, the product quality is definitely on the level.
The main reason why it is not adapted to the domestic climate is its poor operational capabilities and insufficient funds.
Hey, do you want to make some plans and invest some money in musical.ly?
Zhang Yida remembers that Cheetah seemed to have invested in him in his previous life. In this life, let’s see if he can cut off his penis?
Of course, it would be best if you can acquire it, lest DouShi also gets the reputation of "plagiarism".