"What? You said Hantai Fund is going to terminate its cooperation with Lingqianbao?"
Zhang Yida looked at Lin Zhenyang and asked again: "Are you sure you're not mistaken?"
"Absolutely true!"
Lin Zhenyang pointed to the document in his hand, "Here, look, the contract termination letter has been sent."
Zhang Yida took the document and looked at it, why is this happening?
Are you following Brother Crow? If you don’t agree, you’ll flip the table over and no one will eat!
Seeing Zhang Yida in a daze, Lin Zhenyang reminded, "Don't be dazed, think of a solution quickly! Coin Treasure is too important to us, we can't lose this business."
Making money is secondary, the key is to have such a product to hook users!
There are more than 100 million users of Lingqianbao. Without such a flexible and profitable product, wouldn’t it explode?
Leech Golden Clothes has always been eyeing us, and will pounce on us if we reveal even the slightest flaw."
"Don't worry, there are always more solutions than difficulties!"
Lin Zhenyang's face became slightly better and he nodded: "Yes, things have happened. It's useless to talk more. Let's find a solution first!"
He didn't mean to blame Zhang Yida. Hantai Fund's operations were in violation of regulations in the first place, and there were no lower limits.
Harm the interests of Hantai Fund Company and help Handing Group complete the private placement.
Handing Group gets all the benefits, and Han Tai Fund takes all the blame.
To put it bluntly, Handing Group, the major shareholder of Hantai Fund, is harming the interests of Ruixiang, a small shareholder.
In addition, if Ruixiang sells products on a consignment basis, they may have to take the blame for them.
"What kind of logic do they have? Taking their anger out on Hantai Fund?" Zhang Yida said, "This kills 49 enemies and only costs 51!"
"I also don't understand that terminating the cooperation with Lingqianbao will be harmful to Hantai Fund but not beneficial at all!"
Lin Zhenyang suddenly remembered something and said again: "Do you think they were the ones scaring us?"
"It's possible," Zhang Yida nodded, "If it were me, I wouldn't harm my own interests just because of a dispute of temper.
Hu Gang and Wang Xiaojie are both talented people. One is the youngest director of the China Securities Regulatory Commission and the other is the youngest director of the central bank.
It’s such a simple truth that you won’t be able to figure it out!”
Lin Zhenyang frowned, "Since you are not serious, are you trying to force us to submit?"
"That's pretty much it!"
Zhang Yida thought about it carefully. Logically speaking, for such a big deal as terminating cooperation, Hu Gang should have called himself.
But he didn't hit him. Maybe he wanted to call him, right?
"Then let's call Hu Gang and have a chat?"
Zhang Yida waved his hand, "That's not necessary! I'm afraid he's just waiting for us to call him!"
If we make a phone call first, it will be like giving in first. What will happen if they engage in disgusting things like insider trading in the future?"
"Then we have to find a way to deal with the coin treasure thing?"
"Yes," Zhang Yida said with a smile, "aren't the four major banks of the Workers' and Peasants' China Construction Bank always beeping?
This time, Lingqianbao will be connected to ICBC Credit Suisse Fund, CCB Fund, Bank of China Fund, and ABC-CA Fund."
"ah?"
Lin Zhenyang said in surprise: "You just gave up all this money to the four major businesses?"
"Hey," Zhang Yida waved his hand, "Old Lin, you have also been the vice chairman of the student union. Why are your political consciousness so low?"
Lin Zhenyang was not angry when Zhang Yida ridiculed him. He said: "I know what you mean, but Hantai Fund also has a net profit of 200 to 300 million a year, so why don't you just give it up?"
"You can appreciate that little bit of profit," Zhang Yida said with a smile. "It only amounts to more than 100 million a year in our hands. Ruixiang invests more than this amount in public welfare every year."
"Having said that," Lin Zhenyang chuckled, "If you don't accumulate small streams, you can't become a river or a sea! Mosquitoes, no matter how small they are, are still meat!"
Then he pointed at Zhang Yida, "I noticed that you have been inflated recently. Since becoming a billionaire, you have engaged in social activities to tease penguins and bought private jets.
Now I don’t even care about small goals!”
"No way," Zhang Yida smacked his lips, "I'll tell you the truth! I want to fully acquire Hantai Fund!"
"Will Handing Group sell?"
Lin Zhenyang didn't ask for the reason for the acquisition. There was no need for a reason at all. How could he have peace of mind when someone else was holding it in his hands?
Zhang Yida glanced sideways at Lin Zhenyang, "Look at their debt situation, the debt ratio has reached over 70%.
If Lianhebei cannot make a good turnaround, Handing Group will be in trouble."
Lin Zhenyang nodded, "That's true. Handing Group has been playing various capital games like snakes and elephants.
The financial techniques are dazzling and have set many domestic precedents.
In five years, the market value has increased from 10 million to 100 billion, making it worthy of being a top financial player!"
"Eat, eat. The more you eat now, the more you will vomit in the future."
Zhang Yida added: "The two licenses I want most are for public funds and securities.
As for Hantai Fund, our Lingqianbao gave him too much blood transfusion. The original valuation of several hundred million has now been increased to several billion.
No matter if you terminate the cooperation with Lingqianbao, since you give it the profits, it will be cheaper to take over in the future.
Also, Yu’E Bao is so big and its target is so conspicuous.
We have to hide our capabilities and bide our time for a while, just in time to divert the users of Lingqianbao to the public offerings of the four major banks."
"That's fine. Anyway, Lingqianbao's diversion of funds from the four major public funds is not free. Without the diversion, Hantai Fund would make more money, so it wouldn't be any worse."
"That's right. You go and deploy this work!"
Zhang Yida smiled and said: "Hu Gang still wants to take advantage of us, this time we want them to look good!"
…
Something happened to Paybay again!
Alipay has a one-stop financial management platform called "Zhaocaibao", but the 1 billion yuan of private placement bonds it sold cannot be redeemed when it expires.
It stands to reason that Zhaocaibao is backed by the Alipay platform, so it is impossible for it to make such a big mistake? Is it because the review is not strict?
In fact, the issuance of bonds by Qiao Xing Group on Paybay has been approved at all levels.
Qiaoxing Group first asked Zheshang Property & Casualty Insurance to provide a guarantee for itself, and then asked Guangdong Development Bank Huizhou Bank to provide a counter-guarantee to Zheshang Property & Casualty Insurance.
Once you see that there is nothing wrong with the fortune-telling treasure, then go for it!
Two years later, the repayment date arrived.
Qiao Xing Group couldn't pay back the money, so Zhao Cai Bao went to Zheshang Property & Casualty Insurance, which in turn went to Guangdong Development Bank.
Then Guangdong Development Bank said that the letter of guarantee issued was forged and that it had never provided any guarantee to Zheshang Property & Casualty Insurance Company at all.
Zheshang Property & Casualty Insurance Co., Ltd. quit working. Do you want me to compensate for this co-authorship? The evidence was immediately posted on the official website.
Guangdong Development Bank has also continued to post various evidences, but it does not admit that it has issued a letter of guarantee.
The two financial institutions started to fight. Zhaocaibao was on the sidelines and was very anxious. If you don't pay back the money, the users are asking me to make trouble! Qiaoxing Group, as a debtor, was cracking melon seeds and watching the show!
As the incident unfolded, more news continued to emerge.
Carrot stamps, financial fraud... more and more clues are emerging, and the public security organs have begun to open cases for investigation.
Users didn't care so much, they all clamored for Zhao Cai Bao to pay back their money.
This matter makes Zhaocaibao very passive. It is simply a financial product sales platform and does not provide any capital guarantee commitments or guarantees.
In other words, it is okay to ignore this matter if you are recruiting wealth.
But Leech Financial Services Group, which is valued at US$60 billion, can’t afford to lose this person! It quickly mobilized various connections and asked Zheshang Property & Casualty Insurance to advance the money first.
Then Zheshang Property & Casualty Insurance went to Guangdong Development Bank to quarrel, saying that Qiaoxing Group and Guangdong Development Bank had teamed up to defraud him.
At this point, the matter basically has nothing to do with Leech Financial Services.
However, this incident caused a great loss to the reputation of Leech Financial Services. Many users did not dare to invest in Zhao Cai Bao.
In response to the Qiao Xing debt incident, Ruixiang Group held a high-level meeting to analyze the beginning and end of the incident, as well as reflections on the Internet financial platform.
Zhang Yida pursed his lips at Lin Zhenyang, "You see! If we continue to let Hantai Fund mess around, it will be us who have a headache."
Lin Zhenyang nodded in agreement. Originally, he thought he was just selling products on behalf of others and did not need to bear any responsibility at all.
But reality taught him a vivid lesson!
It doesn’t matter how many users there are, it’s your platform that sells the products to us, and you have to be responsible!
"Everyone knows about the Qiao Xing debt incident! Let's talk about the impact of this incident and the reflection it has brought to our platform."
Zhang Yida glanced at the senior executives and took a special look at Gu Panpan.
As the general manager of the platform operation business group, Gu Panpan has seven major financial supermarkets under her jurisdiction.
Things like Qiao Xing's debt are most likely to happen in their business group.
Gu Panpan was very self-aware and was the first to speak: "Mr. Zhang, let me share my opinion first.
As a platform, Zhaocaibao does not have to bear the responsibility for redemption, but many users decide to invest based on their trust in the Zhaocaibao platform.
If Zheshang Property & Casualty Insurance had not made the advance payment, I think Zhaocaibao would have been stumped by this matter.
If you make a rigid payment, it violates the principles of the platform and takes over responsibilities that should not be shouldered;
If you insist on not honoring the payment and keep it official, it will hurt the user's emotions.
So, it’s a dilemma!”
Zhang Yida nodded and analyzed it very well. He looked at her again and asked: "What would you do if this happened to a trust supermarket or a financial management supermarket?"
"Business matters!" Gu Panpan gave his answer without hesitation.
"If you do this, I believe users will go to Ruixiang Building to pull banners downstairs."
Gu Panpan looked serious and replied: "Once you open the hole of just cashing in, it will be a bad start. If similar things happen in the future, will you be compensated?
The commission for product sales is as low as a few tenths of a point, and as high as two or three points.
If you pay, you will lose 100 points!
I would rather bear the infamy and just redeem it. At worst, the product will be shut down. At least it will not harm the group."
The male executives present all looked at Gu Panpan with admiration, he was so decisive.
"It's like what you said. How can it not implicate the group?"
Zhang Yida said with a smile: "I guess the reputation has been ruined and all the customers have left."
"Therefore, we must strengthen risk control. At the same time, we must educate users so that they can develop a sense of risk and not blame the platform entirely if something goes wrong." Gu Panpan replied again.
“Educating users is easier said than done!”
Zhang Yida lamented, “We shout slogans every day to break the rigid payment system. But if we really do this, we will cut ourselves off from the people!
If you don't do this, you can live for a few more years. If you do, you will die immediately.
If you don’t just redeem it, if others just redeem it, users will definitely vote with their feet!
To make the redemption happen, the entire financial industry must come together! At the same time, several painful lessons for users will have to happen before users will grow.”
Zhang Yida added: "Financial Supermarket is a business we started, and it has been three years since we developed it today."
He looked at Gu Panpan again, "I said last year that I would completely close the financial supermarket by the end of 2016. The Qiaoxing Debt incident has strengthened my determination."
"I have no objection!"
Gu Panpan surprisingly had no objection, and she added: "The Qiaoxing debt incident happened even with insurance and double guarantees from banks. In contrast, P2P risks are even more uncontrollable.
Apart from the Internet financial supermarket, we still have six financial supermarkets including loans, credit cards, funds, insurance, banks and trusts.
These products are all products with financial licenses, and the risks are much smaller."
"The Qiao Xing debt incident gave me a lot of insights. I think it is necessary for Ruixiang to move toward an open platform."