Zhang Yida made it clear that he wanted the eight banks to bid against each other, but no one who could sit here was a fool. After conceding to an annualized interest rate of 4%, he refused to compromise.
Because if the interest rate drops again, there will be no more money left.
Seeing that the situation was almost over, Zhang Yida said, "Okay, 4% is 4%. But I have a requirement regarding the currency of this loan."
"Oh, please tell me, Mr. Zhang?" Robert raised his hand.
"Half RMB, half US dollars."
Robert and the representatives of the other three major foreign banks looked at each other, nodded and said, "Okay, the U.S. dollar portion will be borne by the four of us."
"We will bear the RMB part." Representatives from the four major banks did not hesitate.
Zhang Yida smiled and said, "I am not in a hurry to get this loan at the moment. You can give me a credit line first."
Robert was not very surprised. This model of credit granting was the norm. After all, if such a large amount of money, a total of 20 billion US dollars, was withdrawn, where would it be invested?
The interest rate may not seem high, but it is US$800 million in interest per year.
Choose the credit mode. When investment opportunities appear, use the bank's credit limit immediately and invest in small sums. This is in line with maximizing benefits.
"What's the approximate withdrawal time?" Robert asked again. He was also very concerned about when Zhang Yida would use the money.
If he leaves it unused, he will not be able to generate any income for the bank, nor will he achieve any personal performance.
"Probably within the next six months to a year!"
Robert nodded. It didn't take long, so it was acceptable.
…
After reaching a preliminary agreement with the eight major banks, Zhang Yida asked employees of the Xinhuo Family Office to register a company in Hong Kong - "Yanhuang Investment (Hong Kong)".
This company is 100% owned by Yanhuang Investment (Cayman Islands). Behind the Cayman company is the Zhang Yida Family Trust Fund.
Yanhuang Investment Hong Kong also registered a subsidiary in Beijing to serve as the operating entity for mainland business.
After all the structures were set up, Zhang Yida transferred 20% of his shares to Yanhuang Investment.
In this way, his Ruixiang equity was divided into two, and the other 26.53% was in the hands of Yizhou Overseas, another Cayman company he controlled.
Zhang Yida asked Lei Dongming, a partner of Huayi Capital, and Ding Siyao to recommend some people to set up Yanhuang Investment.
In Zhang Yida's vision, Yanhuang Investment (Hong Kong) controls US dollar funds and invests in international markets;
Yanhuang Investment (Beijing) controls RMB funds and invests in the mainland market.
The reason for this arrangement is also due to various reasons such as foreign exchange control and tax planning.
Yanhuang Investment can be regarded as his personal independent family office.
The Xinhuo Family Office has been operating for two or three years. After figuring out the basic operating model, he no longer wanted to partner with others, so he simply started one by himself.
As for the equity interests in the three listed companies of the Yimin Group, Zhang Yida still managed them in the Xinhuo Family Office. In addition to standing up for his company, he also had a cunning plan.
After Yanhuang Investment was established, it had no big business. It took over P2P credit assets and Bayer Animal Insurance acquisition negotiation business, which were followed up by two companies in the mainland and Hong Kong respectively.
On the P2P side, Fan Hongyang and Fang Yuhan, as the heads of two large platforms, both participated in the secret symposium organized by the Finance Office.
The content of the meeting is very simple. First, all your P2P bosses must be subject to border control and cannot leave the country without authorization.
Second, we need to carry out three reductions in P2P business, namely reducing the balance, reducing the number of people, and reducing the number of stores.
…
Fan Hongyang, who came back from the meeting, had given up completely. The leaders did not speak harshly, and withdrawal was inevitable.
The announcement of the "three drops" will directly push the platform that has not yet collapsed to a dead end.
Especially some companies that are not yet profitable!
Because regulatory agencies require scale reduction, this will greatly affect the revenue of each platform.
Those that have already made substantial profits will see a decline in profits or even lose money; those that have already achieved balanced revenue may move towards losses.
As for those who are still losing money, it is basically a dead end.
Because under the current environment, investment institutions will definitely not invest in this industry.
As for those who were very large and did not fall down in this thunderstorm, when the water dries up, you will know who is swimming naked.
However, all this has little to do with him and Fang Yuhan.
Both of them knew the news about the establishment of Yanhuang Investment and what this investment institution was used for.
Zhang Yida pointed out the way forward for the two of them, which is to get rid of P2P and start a "second entrepreneurship".
That’s right, it’s a second venture.
Zhang Yida didn't have time to appease them, so he directly said that he would run the company with the mentality of starting a new business.
The glory of the past only represents the past. Now we have to forget all this and start all over again.
The two returned to their respective companies and arranged for the latest "debt transfer" function to be launched!
As soon as this feature came out, investors who were already worried about it rushed to transfer their claims.
Because they are now frightened and afraid that they will not get their money back.
According to the latest transfer rules, the principal can be taken back, but the interest during this period will be lost.
It's not that Zhang Yida is greedy for this small profit, but mainly because he hopes other investors will bear part of the pressure.
Not to mention, there are quite a few investors coming to buy the bottom.
In fashionable terms, they are greedy when others are fearful.
Out of trust in Yimin Financial Management, Ruimin Financial Management, and Zhang Yida’s reputation.
Some investors spent a lot of money and began to take over a large number of claims transferred by other investors.
The most popular ones are those with one, two, and three-year targets, and investors have been investing for 10 or 20 months.
It was due to expire in two or three months, but they didn't want to endure the inner torment anymore, so they had to jump out of the car.
Even if you lose some interest, as long as the principal is still there, that is the greatest victory.
The happiest people are the investors who hunt for the bottom, getting high returns at a small cost.
For example, 100,000 yuan buys a debt worth 107,000 or 108,000 yuan including principal and interest.
When this debt fully matures in two or three months, you can still get another two to three thousand yuan in interest.
It is equivalent to investing 100,000 yuan and earning 10,000 yuan in two or three months.
However, there are only a few people who jump out of the car, and many people are also frightened by various thunderstorms outside.
After a period of chaos, the transfer wave slowly subsided.
It seems that Yimin Financial Management and Ruimin Financial Management will not collapse for a while and cannot be transferred at a loss. This is the thinking of some investors who have calmed down.
Funds from Yanhuang Investment and the parent groups of the two P2P companies have not been used.
Zhang Yida chose to let the market digest it naturally and let a group of investors with low risk appetite get off the bus first to avoid sudden chaos in the future.
Because this group of people is the easiest to be shaken and cannot withstand incitement.
Also, considering that thunderstorms have put a lot of financial pressure on some investors, some of whom need to pay off mortgages, credit cards, etc., give them an opportunity to get off the bus early.
The two platforms have not officially announced their withdrawal yet. In addition to opening the transfer function, they are also continuing to issue bids.
It's just that the bid was much lower and interest rates were cut significantly.
The loan scale that has been formed by several Yimin companies will not be able to be reduced for a while.
Because once it is reduced, the huge team on the asset side will look extravagant and wasteful, unless there are layoffs.
Zhang Yida asked several of his companies to maintain their lending scale and not continue to expand, because rash expansion would put a lot of pressure on the capital side.
While looking for banks to discuss cooperation, we will continue to let the P2P platform issue bids.
It is not appropriate to announce a complete withdrawal at this time. Ordinary users cannot bear this shock.
Zhang Yida is also waiting for the right opportunity. When most of the loan funds are replaced by bank funds, the time will basically be ripe.
At that time, let Yanhuang Investment buy out the investors' claims in one go.
The bomb was defused successfully and landed safely! Perfect!
Ordinary users complained about Yimin Financial Management, Ruimin Financial Management has cut interest rates again, and the bids have become increasingly difficult to grab.
There are also users who regret that they transferred their claims too early. If they had known there were no problems with the platform, they would have...not transferred them.
In short, through a set of fancy techniques, the two platforms quickly stabilized and clarified their future development paths.