When the domestic media and people cheered for "Chinese tycoon Li Yonghong spent 740 million euros to acquire the Rossoneri".
Zhang Yida stood on the New York Stock Exchange bell ringing platform for the second time and knocked down the gavel in his hand.
Yimindai was successfully listed!
Yimindai's stock issuance code is "YMD", the original issuance price range is US$13.5/ADS-15.5 US$/ADS, and it plans to issue 30 million ADS shares.
Among them, there are 27 million ADS shares of new shares and 3 million ADS shares of old shares. Together with the over-allotment part, the maximum number of ADS issued is 34.5 million shares.
In view of the popularity of the road show, the issuance price of Yimindai was set at US$15.5/ADS.
The opening price closed at US$19.4, an increase of 25.2% from the issue price. The market value reached US$4.482 billion, and the static price-to-earnings ratio reached 42.7 times.
This IPO raised a total of US$534.75 million. After deducting investment bank issuance fees and various related audit fees, the actual amount raised was US$502.66 million.
Among them, US$452.4 million went into the account of Yimin Loan Company, and the other US$50.26 million was cashed out by Zhang Yida personally.
After completing the listing and cashing out, Zhang Yida's shareholding ratio dropped from 41.84% to 34.73%.
Stimulated by this news, the share prices of Yimin Wangjin and Yimin Wealth both rose slightly.
"Mr. Zhang, as Yimindai is the first domestic consumer installment company, what do you want to say to the latecomers?"
After the bell-ringing ceremony, domestic reporters immediately surrounded Zhang Yida and his group, set up long guns and short cannons, and conducted interviews in the square outside the New York Stock Exchange.
"I hope that more and more excellent domestic companies will be successfully listed. At the same time, I hope that everyone will embrace compliance, restrain themselves with strict standards, and make inclusive finance better and stronger..."
A reporter asked again: "What does Mr. Zhang think of the campus loan incident and violent collection? How does Yimin Dai deal with overdue users?"
Zhang Yida has long been accustomed to media provocations and calmly replied: "First of all, let me declare that the lending business engaged in by Yimindai strictly abides by laws and regulations.
It is absolutely impossible for campus loans to happen to Yimindai because we do not grant loans to borrowers under the age of 23.
The customers we face are white-collar and blue-collar groups with stable jobs and sources of income.
As for violent debt collection, Yimindai strictly prohibits it.
How the bank handles overdue users is how we handle it.
For example, reporting to the central bank for credit reporting, and reporting default data to Mung Bean Credit...
I have always believed in a saying: Violence cannot solve problems, it will only deepen them.
Yimindai teamed up with Ruixiang, Yimin Wangjin and many other financial technology companies to form an "alliance to combat lao Lai".
It is very simple to understand that if the user is overdue, his credit will be destroyed and he will be unable to borrow money from other formal financial institutions.
This is also a kind of deterrent, which is very helpful for building a "Credit China" and a "harmonious society"."
The slippery Zhang Yida made reporters unable to find any flaws. Some people did not believe in evil and continued to stir up trouble.
"Together with Yimindai, Xinerfu was listed today. However, Xinerfu encountered Waterloo. It is said that the original price range was US$9.5-11.5, and the planned financing scale was US$105 million.
But in the end, the issuance price was lowered to US$6 per ADS, and the financing scale was reduced by 40% to US$60 million.
I heard that Mr. Shen Yunqing, the CFO, cried a lot because of this, thinking that the company was sold at a low price.
However, the IPO of Yimindai was a great success. What does Mr. Zhang think of this? Why does he think Yimindai is more trustworthy and stronger than others?"
Zhang Yida knew Xinerfu, a company whose valuation reached US$1 billion last year.
As a result, the market value after the IPO was only US$420 million, which was called a "bleeding listing."
Zhang Yida knows the reason. This company was established in 2001. It first made credit card risk control systems for banks, and later entered P2P and cash loans. It has been sixteen years now.
In the past three years, except for 2014, when we made a profit of more than 100,000 US dollars, we lost more than 30 million US dollars in 2015 and 2016.
Even if you make a loss on a cash loan, are you a qualified person?
The real reason is that the boss is too idealistic, the loan interest rate is too low, and the customer base is not right.
Two years ago, Xinerfu and QQ jointly launched a cash loan portal.
More than 1.5 million loans were issued in a single month, and the amount of data is terrifying.
At that time, senior executives from Yimin Net Finance and Yimin Dai approached Zhang Yida and asked him to establish a relationship with Penguin so that everyone could embrace Penguin's lap.
At that time, the specific limit of that product was 100-500 yuan, and the repayment period was 1-14 days.
If you borrow 500 yuan for 14 days, the interest will be 4.2 yuan, which is equivalent to a daily interest rate of 60%. In addition, there seems to be a handling fee of 5 yuan.
Strictly speaking, the daily interest rate is not low, but compared with various anti-aircraft gun players, it is the conscience of the industry.
The penguin wanted to play with them, but he didn't take kindly to it.
Penguin provides dimensional classification of social data, including online time, QQ account, chat history, group records, etc.
Xinerfu models based on these dimensions and then hands the model to Penguin.
Penguin imported user data into this model to run scores and screen out users who meet the requirements. It is said that it has screened out 50 million target users.
Mobile QQ will push cash loan information to these users in batches.
If a user does not receive this advertising pop-up window, it means that he is not the target user.
For Penguin, it is actually trying to apply credit data.
Because the credit data of these 50 million users, including whether they have repaid their debts, whether they are overdue, etc., are shared by both parties.
Consumption data and social data are not as direct as repayment data. It is also a verification of the financialization of social data. It is of great significance to drive the credit model and improve the scoring.
For Xinerfu, it means saving customer acquisition costs. At the same time, if the model is successfully verified, it can also cooperate with companies such as China Mobile and Dianping that have rich data and corresponding scenarios.
The user's credit limit will also increase as the user continues to repay the contract. This will increase the platform's re-borrowing rate, accumulate credit data, and reduce the overdue rate.
But the ideal is beautiful, and the reality is very skinny.
When the data is almost accumulated, Weilidai will be launched.
If you are trustworthy and rich, you can stay where it is cool.
This is the tragedy of not having traffic and a platform, even if you have good ideas and ideas, you can't realize them.
Zhang Yida still has full respect for Wang Zhengyu, the founder of Xinerfu.
No matter what Xinerfu becomes in the future, their starting point for "inclusive finance" is still good.
It’s just that the water in China is too muddy, and honest people suffer!
"He is a person who cherishes feathers very much. The interest rate will never exceed the 24% line stipulated by the state. He is different from other financial practitioners. He is not a profit-driven businessman."
This is the evaluation of Wang Zhengyu by a person in charge of the central bank.
“There are two companies, Yimindai and Xinerfu, one is consumer installment and the other is P2P, so it’s hard to compare.
There is no conclusion that one is stronger or the other is weaker, but rather encouraging and learning from each other.
If I have to mention a few differences, firstly, our total loan amount is several times that of theirs; secondly, we focus on scene installments, while they focus on cash loans..."
In fact, Zhang Yida did not say anything else, "I am a grassroots person in China, and Wang Zhengyu is a Chinese-American, a Ph.D. from the University of Illinois at Chicago, and an elite returnee from overseas in the 1990s."
Mutual funds are so evil, there are many grassroots counterattacks, and those who come from wild backgrounds beat the returnees to death with random punches.
If we have to analyze it from the perspective of objective factors, it is that people are down-to-earth, understand the national conditions, and dare to venture into the world; returnees are just the opposite.
Shen Beipeng, Xu Xiaoming and others stood on the side, looking at Zhang Yida who was surrounded by enthusiastic reporters.
"Hey, I heard that Xinerfu "bleeds to be listed"?" Xu Xiaoming asked Shen Beipeng, who was standing next to him.
Shen Beipeng sighed, "Yes, the only thing that saves some face is that the issue did not break. The opening price was US$6.65, which was an increase of 10.8% from the issue price.
I don’t know what the situation will be like at the closing time?”
"Are you saying that Internet finance is about to become cold? Otherwise, a person as smart as Yida boy would not know how to cash out in various ways.
I heard that Yimin Wangjin and Yimin Wealth have begun to reduce their holdings. Do you black shirts want to run away?"
Shen Beipeng said with a smile: "Yimin Wangjin, we are about to finish liquidation. Yimin Wealth is not bad, and we don't lend.
As for trust and wealth, I think it’s because the financial report is too ugly.”
"I heard that this month, a girl in Xiamen committed suicide by burning charcoal because she couldn't repay her loan?"
Speaking of this, Xu Xiaoming's eyes were complicated.
Then he said: "Yida, do you want to remind us of the red lines for lending?"
Shen Beipeng shook his head, "At most, it can be below 36%. No matter how low it is, Xinerfu's today will be the future of Yimin Wangjin and Yimin Dai."
This is the general trend determined by the customer base and capital cost. Anyone who violates it will only be ruthlessly crushed by the crowd.
Business and emotions cannot be confused.
In fact, because they adhere to the 36% red line, the profit margins of Yimin Dai and Yimin Wangjin are already much lower than those of Paishou Dai and Miaofenqin.”
Xu Xiaoming nodded, he also knew the power of it. In this industry, being soft-hearted and soft-hearted can only serve as a backstop for others.