Chapter two hundred and sixteen brothers and sisters
"Mr. Li, our Qiandu Youqianhua has encountered great resistance in expanding vocational education installment loans."
Qiandu Vice President and General Manager of Qiandu Financial Services Group (FSG) Zhu Guang came to Robin Li’s office to report.
"What resistance? How did you do it?"
Robin Li was a little angry, so he formed the financial business group and elevated it to the strategic level of the group. As a result, the good news did not come, but the bad news came instead.
As one of the "troika" of Qiandu Finance, consumer finance is no less important than the other two carriages - payment and financial management.
In terms of team building and business development, the entire group can be said to need people to give people and money to give money.
Robin Li looked at Zhu Guang with an unkind look and began to consider whether he was really suitable for the position of general manager of the financial business group.
Zhu Guang was glared at by Robin Li Fengrui, and cold sweat broke out on his forehead.
He knew how strong Robin Lee's character was. If nothing else, just take the fact that "he was the only one left among the Seven Swordsmen of the Thousand Degrees who started his business in the early years", we can see how controlling the other party is.
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Zhu Guangcai became the general manager of the business group, but he didn't want to be kicked out in despair. He organized his words before answering:
“Yimindai is engaged in a price war. It has lowered the annual loan interest rate to 15% at one time, and has offered cooperative merchants a super high rebate of 3% of the loan amount.
The agents below are all in a quarrel, saying that their business is almost being robbed."
Zhu Guang dared not say that he was the first to initiate the price war, directly lowering the interest rate from the industry standard of 20% to 16%-17%.
Originally, Zhu Guang believed that the education installment industry was full of small start-up companies, most of which had only received Series A financing. They were completely scattered and there was no one that could win.
As a result, Yimindai jumped up and slapped him with his backhand, almost causing Qiandu Fuqianhua to become paralyzed.
"Yimin Dai? Is it related to Yimin Wangjin?" Robin Li asked.
“Originally, both Yimin Dai and Yimin Wangjin belonged to Yimin Financial Services Group.
Later, Yimin Wangjin was independently listed, and Yimin Dai was also spun off.
Some time ago, Yimindai completed a US$300 million strategic financing jointly invested by CITIC Industrial Fund and China Merchants Group.
In addition, Yimindai also received a RMB 10 billion loan jointly granted by China Merchants Bank and China CITIC Bank."
Zhu Guang now regrets not paying more attention to the education installment industry.
As a result, he accidentally killed a giant crocodile.
At the same time, he was also quite angry. This Yimindai was so well disguised.
Qiandu only entered the market when he had money to spend, so you completed such a large amount of financing and worked exclusively against yourself.
Why is there a price war? Isn’t it better for everyone to make money happily together?
In fact, he has double standards, and Yimindai has been developing obscenely.
Qiandu Youqianhua took the lead in provoking a price war, interrupting the wretched development process of Yimindai.
Zhang Yida is afraid of the "Qiandu Youmoqihua" troublemaker. All the small and medium-sized players in the previous education installment were killed by them using capital costs to engage in price wars.
So Zhang Yida will not coddle them. You can get funds from the bank, and Yimindai can also get them. Who is afraid of whom?
It’s just the large group of small and medium-sized players in the education installment industry who get funds from P2P.
Their capital cost was 10 points, or even more than 15 points, and they played a hammer game and were immediately cleared.
"Is it Yida's company?" Robin Li was a little embarrassed. Qiandu should be considered a latecomer in the industry if he had money to spend. It was normal for him to get beaten up when he went to grab the market.
It was he who got closer to Zhang Yida and invested US$200 million in Xinhuo United Family Office.
In a blink of an eye, everyone is fighting against each other again.
However, friendship is friendship, and business is business. Friendship and business cannot be confused.
Robin Li added: "Then let's also adjust the interest rates and rebates! Yimindai is rich, but it depends on who we compare with. Are we Qiandu afraid that we can't beat them?"
Zhu Guang thought to himself, if only it were as simple as you think. Then I'd rather ask for permission and just get started.
Zhu Guang said with a grimace: "If the interest rates and rebates are adjusted again, we Qiandu Youqianhua may face huge losses.
First of all, the cost of bank funds is currently 6%. If we set the interest rate at 14%, the interest rate spread will be only 8 points.
Including rebates, operating and promotion costs, bad debts, and interest differentials, it can be covered.
I'm afraid that Yimindai will continue to have a price war with us.
Our interest rate decreases by 1 point, and their interest rate decreases by 2 points. Our rebate increases by 1 point, and their rebate increases by 2 points.
Their capital costs are similar to ours, but they entered the market more than a year earlier than us. Their control of operating costs is definitely better than ours, and their risk control is no worse than ours.
If we continue like this, I'm afraid we will kill eight hundred enemies and lose one thousand to ourselves."
Zhu Guang analyzed the competitive situation with Yimin Dai very clearly. He was afraid of burning a lot of money and ended up losing it.
So he didn't dare to make decisions on his own, but handed over the decision-making power to Robin Lee.
As long as Robin Li is not afraid of losses or losing, he will go all out to fight Yimindai.
Robin Li also has a headache. In his opinion, Yimindai raised US$300 million, which is just a small deal.
But there is Zhang Yida standing behind Yimindai, so he cannot help but ignore him.
This is a ruthless person. Last year he spent more than 2 billion in the mobile payment market, and this year he will only make more money.
In addition, Yimin Wangjin is said to have more than US$1 billion in capital, and Ruixiang has just completed US$2.5 billion in financing.
If Qiandu has the money to spend all the US$300 million Yimindai has, and these two companies invest in Yimindai again and inject some blood, then the subsidy war will be protracted.
The combined total of several of their start-up companies still cannot compare to Qiandu in terms of funding.
But Robin Li is wondering whether it is worth burning so many billions or even tens of billions for the education installment market.
At present, O2O wars, Qiandu Nuomi, and Qiandu Takeout are all burning money.
Even if the Putian boss keeps advertising and making money from the search engine business, he still can't afford to go around and start wars everywhere!
"Okay. I'll give you an answer on this matter in two days. You go ahead and do your work!"
Zhu Guang guessed that Robin Li wanted to negotiate peace with Zhang Yida. Sure enough, after he left, Robin Li called Zhang Yida's phone number.
"Yida, are you busy?"
"It's nothing, senior brother. If you have anything, just say it!"
Zhang Yida guessed that Robin Li came here to fight for education installment subsidies, but he still pretended not to know anything on the phone.
“That’s right, Qiandu Youqianhua entered the education installment market some time ago.
The people below don’t know that this is your territory, and the flood has washed away the Dragon King Temple! Haha!”
Robin Li also clicked to the end, guessing that Zhang Yida should understand what he meant.
"Is this happening?
What is my territory! Brother, you are serious, there are so many players in consumer installment, how much market can Ruixiang, Yimin Online Finance, and Yimin Dai occupy?
Qiandu has money to spend to enter the education installment market, which is a good thing and will help the industry prosper!"
Zhang Yida didn't blush or breath even when he was pretending.
Robin Li knew it and didn’t say anything. They just gave each other a way out! He continued:
"That's right! The people below didn't know it and started a price war with Yimindai.
When I found out, I gave them a severe scolding."
"Ah? Then I have to restrain Yimindai. I am also too busy, so I ignore many things."
Zhang Yida had basically guessed that Robin Li wanted to negotiate with him, otherwise he wouldn't have made this call.
"The education installment market is still huge. No company can completely dominate it alone.
Instead of our two families fighting each other and taking advantage of outsiders, it would be better for us brothers and sisters to join hands and carve up this market together."
"Yes, senior brother, you are right. A price war between us senior brothers is definitely something that makes relatives hate and enemies enjoy.
Tell me how we can cooperate with you."
Seeing that Zhang Yida was very wise, Robin Li smiled and said: "In this way, let's unify the price policy!
Your interest rate is set at 15% annually, and ours is also 15%.
Your cooperation commission rebate is set at 3%, and we also agree with you.
Leave the market affairs to the people below and let them do their best!
Yida, what do you think of this?"
"Okay! Brother, your approach is good. With this pricing policy, we can just drive out other competitors, and at the same time we can still make a certain profit.
Just follow the method you proposed!"
Zhang Yida didn't want to engage in a price war. Since Qiandu had enough money to spend, he gave up, so he didn't kill them all.
However, Zhang Yida will not completely believe Robin Li's lies. After all other competitors have withdrawn, Yimindai and Qiandu Youqianhua will still have a battle.
"Okay, then we've made an agreement."
After receiving Zhang Yida's affirmative reply, Robin Li hung up the phone, called Zhu Guang, and warned:
"You should align our policies with Yimindai with money to spend, and try to avoid malicious competition with them at this stage."
Zhu Guang nodded and said: "I understand, I will restrain the agents below."
“The other thing is that you have to grow a team that has money to spend as soon as possible and slowly control operating costs.
In the future, we will inevitably have a battle with Yimindai.
But don’t worry about it at this stage, Zhang Yida and I have reached a consensus to clear out other miscellaneous fish first.”
Robin Lee has been in the business world for nearly two decades, so naturally he won't simply think that everything will be settled in the future.
We haven't started fighting yet because we are afraid of the opponent's strength and fear of others taking advantage of us.
When there are only two of them left in the industry, or the parent company of one party weakens, it will be time to fight again.
"Then do we still need to use our extra moves?" Zhu Guang asked.
"What kind of off-beat move?" Robin Li frowned, thinking to himself, can't you change it to a nicer term?
“Seventy to eighty percent of the students in many educational institutions come from Qiandu.
Should we discuss with some educational institutions? If they choose to cooperate with us, we will give them some advertisements.
Also, should we use some means in product design?
For example, take the famous “X+Y” plan in the education phase.
X represents the number of periods in which only interest is repaid in the previous period, and Y represents the number of periods in which the principal plus interest is repaid in the later period.
The allure of this plan is that during the training period, students only have to pay back a small amount of interest, and then repay the principal and interest after the training is over and they find a job.
For example, a course with an installment fee of 20,000 yuan.
If students choose "6+12", then they only need to repay more than 200 yuan in interest per month for the first 6 months, and then only the principal and interest will be paid.
Now the industry generally adopts the 6+12 and 6+18 model.
We changed them to 9+9 and 12+12 models to make them more attractive."
Zhu Guang explained his plan with a smile. The interest and rebates were the same, but there were many other tricks that could be played.
Robin Li said: "As long as our interest and rebates are the same as Chaoyimin Loan. You can play any other tricks you want."
I only have one request, and that is to increase the business volume as soon as possible."
Zhu Guang nodded repeatedly, Mr. Li was indeed the same Mr. Li, and the smell was still familiar.
Any consensus reached with junior brother is nonsense.
If Zhang Yida believed him, he would probably lose his pants.