Fan Hongyang, CEO of Yimin Financial Management, sent good news:
"As of the end of August, the total transaction volume of Yimin Financial Management has exceeded 10 billion! The transaction volume in August reached a new high, with a single-month transaction volume of 1.5 billion! The total amount to be collected is 3.5 billion.
At present, the platform has caught up from behind and ranks among the top ten in the country in terms of transaction volume and scale of collection, second only to established platforms such as Lufax, Yiyindai, and Paishoudai.”
Zhang Yida knew that this was the merged data of Yimin Fortune. The merged data of Guang Yimin Fortune had a transaction volume of 2 billion, with more than one billion to be collected.
But since we are all a family, it doesn’t matter if we combine the data and calculate them together.
There is a trend of exaggeration in the industry now. A financing of 1 million US dollars is said to be millions of US dollars, and a financing of several million US dollars is said to be nearly 10 million US dollars. Some even report debt financing from venture capital as equity financing.
Blowing to death.
Zhang Yida also understands that if you brag a little more and appear stronger, customers, suppliers, and partners will all look up to you.
This trend of exaggeration is reflected in the Internet financial management industry, which means vigorously promoting transaction volume data and data to be collected, so as to make the platform appear larger and stronger, and customers can invest with peace of mind.
Yimin Wealth has divested its P2P business and integrated it all into Yimin Financial Management, which is not only to avoid risks, but also to prepare for the listing of Yimin Financial Management.
Zhang Yida replied to Fan Hongyang via email:
"It is indeed a good thing that the transaction volume exceeds 10 billion. Contact various media to hold a press conference to build up the hype.
In addition, there are still 4 months until the end of the year, so we can make another push and strive to achieve a turnover of 20 billion!"
After handling Yimin Financial Management, I clicked on the email from Yimindai CEO Chen Shaojie:
"Yimindai's second-generation risk control system "Fire Eyes and Golden Eyes" has performed well, and the overdue rate has now been reduced to 5%.
In addition, in addition to cash loan projects, the company has also entered the fields of education installment and medical beauty installment, and has cooperated with hundreds of education and training companies and medical beauty and plastic surgery hospitals.
At present, the quality of the installment business in the two major scenarios is stable, and there are no large-scale bad debts or malicious loan fraud.”
Zhang Yida frowned. Educational installments and medical aesthetics installments are okay at the moment, but this market will be ruined in the future.
There are two main reasons. First, the quality of education and training institutions and medical aesthetic institutions vary greatly. Customers are not satisfied with the services provided, so they do not plan to repay the loans, and there are a lot of bad debts.
The second is that in order to compete for partners, lending institutions engage in price wars and offer higher and higher cooperation commissions to educational institutions and medical aesthetic institutions. Of course, these costs are ultimately paid by users, so the loans issued by lending institutions are
Interest rates are getting higher and higher, and user quality is getting worse and worse.
This is a vicious cycle. When the interest rate is high, the quality of the customer base is poor, and then users cannot afford to repay. In order to cover bad debts, lending institutions have no choice but to raise interest rates, and then users are worse off and cannot afford to repay. Then the lending institutions
Raising interest rates again...
Reply to Chen Shaojie via email:
“The overdue rate must be controlled again and must be kept below 3%.
In addition, for educational installments and medical aesthetics installments, in addition to risk control for borrowers, the partners must also be evaluated and risk controlled.
Including the partner's qualifications, past performance, and customer praise must be taken into consideration.
If the customer is not satisfied with the service provided, he will definitely not be willing to repay the loan! Then we will bear the loss. So these factors must be taken into consideration."
Fang Yuhan, the newly appointed CEO of Ruimin Financial Management, sent an email to Zhang Yida:
"Mr. Zhang, Ruimin Financial Management (formerly Jingrui Wealth) has been operating normally for more than a month after undergoing transformation.
After learning about our acquisition of Jingrui Wealth, some of the former Wool Party customers withdrew their investments when they expired, and some chose to stay on our platform because of the strength of our parent company. This part is about 100 million yuan to be collected.
The new transaction volume is 120 million. The current monthly transaction volume remains above 100 million and continues a good growth trend. By the end of the year, the monthly transaction volume is expected to reach 300 million."
Fang Yuhan used to be an elite on Wall Street, but later joined Yiyindai. This time, she was lured to Ruimin Financial Management by Zhang Yida's high salary + equity.
However, this woman did not disappoint Zhang Yida. She made drastic reforms as soon as she took office and put Ruimin Financial Management back on the right track in just over a month.
Because of poaching her, I also had some unpleasantness with Senior Brother Tang Ning. From the current point of view, these costs are worth paying.
In addition, it turns out that the woolly client of Jingrui Wealth actually left 100 million to be collected, which was a complete surprise.
Just from these customers and the 100 million to be collected, we can basically make back the 40 million that we spent to acquire Jingrui Wealth in the next two years. We won’t lose money this time!
Zhang Yida wrote an email reply to Fang Yuhan:
“Ruimin Financial Management has developed well, and your contribution is obvious to all. You have worked hard during this period!
In addition, Ruimin Financial Management's annual goal this year is to achieve a turnover of 2 billion, including the previous several hundred million transactions of Jingrui Wealth; if it is to be collected, it will be 500 million!
Also, how is the development of deposit financial products for shared bicycles being developed?
This deposit financial product must take into account both liquidity and profitability. Users may also return their deposits at any time. How can users trust the financial management platform? How to cooperate with Huimin Bicycle?
These factors must be taken into consideration and a plan should be come up as soon as possible. We will officially launch it at the end of September."
Huinongdai CEO Bao Bufan was the former vice president of Rural Commercial Bank. He was in his forties and had no hope of further career advancement, so he was recruited to take over Huinongdai.
Bao Bufanhui reports:
"Ganzhou Huinong Small Loan Company has received approval from the Ganzhou Provincial Banking Regulatory Bureau and was officially established.
At present, the registered capital of the small loan company is only 10 million, which is slightly insufficient whether it is lending with its own funds or leveraging financial leverage. The company is in urgent need of new capital injection, and I hope Mr. Zhang can solve it.
In addition, the Valley County branch has been officially established, the preliminary screening and risk control of local farmers has been completed, and the first phase of 10 million loans will be issued soon."
Money was needed again, and Zhang Yida found that none of his companies were short of money, except Dogfud.
Companies with greater potential will burn more money in the early stage, and companies that make money right from the start basically don’t have much development potential.
Zhang Yida replied to Bao Bufan:
“Persist for a period of time, Huinongdai will make certain achievements first, and then we will start Series A financing.
You have to pay close attention to the matters in Valley County. This is our Huinong Loan’s first project, so there is no room for error. Whether we can obtain financing, and the scale of financing, completely depends on the performance of the project in Valley County!"
After the emails from the six subsidiaries of Yimin Financial Services were processed, Zhang Yida began to look through the emails from Dogford Company again.
Gu Binhui, Lu Fenghai’s successor and the second general manager of the company, reported:
"The company's Taobao store has been upgraded to a second golden crown store, with a good score of more than 1 million points.
In addition, the monthly net profit exceeds 3 million yuan, and Mr. Zhang can come and withdraw it at any time if necessary."
His words made Zhang Yida feel a little embarrassed. As his only cash cow, Dogfud had to be milked every few months. He milked 5 million for Petnet and another 5 million for Huimin Bicycle.
.
Doing this made other companies happy, but Dogford's own development was restricted.
Zhang Yida replied to Gu Bin:
"Net profit has reached a new high, your contribution is not small!
I have decided that I will no longer extract profits from Dogford this year. With the remaining funds, you can decide whether to expand the scale, expand more product categories, or open more stores.
In addition, you should pay more attention to self-media marketing. Dogfud can try to make breakthroughs from this area."
Lu Fenghai, CEO of Pate.com, sent an email saying:
"Pate.com completed a transaction volume of 24.2 million in August! It has now entered 5 cities in Beijing, Shanghai, Pengyang and Rong."
Zhang Yida touched his chin. The target of 20 million transaction volume in August was exceeded. Ruixiang and Yimin were also helpful in shouting. The mall advertisements in the APP were all created for their brother companies.
Of course, Lu Fenghai himself worked very hard. He led the team to open up 5 cities and put a lot of effort into offline promotion.
Zhang Yida replied to him: "Come on! 40 million next month, and 80 million next month. We can definitely complete it!"
That’s for sure! Rui’s goal of reaching 150 million users is no joke. There are still 15 million people raising dogs and cats.
It’s just that currently O2O services can only be provided in 5 cities, while e-commerce can serve the whole country. This has some impact on Ruixiang’s traffic promotion, after all, you cannot serve users in some areas.
But even so, Ruixiang has made a huge contribution. Half of Petnet’s user traffic comes from Ruixiang. Of course, advertising fees still have to be paid.
But compared to the traffic effect brought by Ruixiang, this is just trivial.
Qin Zheng is the chief human resources officer of Huimin Bicycle and is temporarily in charge of the overall business of Huimin Bicycle. He reported to Zhang Yidahui:
"Dispatchers have begun to be recruited. After being trained by the company, they will be launched on the market together with Huimin Bicycles at the end of September."
Huimin Bicycle has not yet been built, but Zhang Yida decided to recruit a team of dispatchers in advance.
Because it is impossible to wait for the bicycle to be on the market and then rush to recruit people. The dispatcher and the bicycle must be online at the same time.
In addition, Zhang Yida asked Qin Zheng to give priority to the dispatchers recruited by Shunfeng and Goudong because the couriers of these two companies are recognized as providing good service and being able to endure hardships.
In addition, the dispatchers are selected to be young adults aged 20-40. On the one hand, moving bicycles is indeed a physical job. In addition, Zhang Yida intends to train these people as the backbone. When the business expands to all parts of the country in the future, it will be up to them.
People who perform well in the company serve as management.
But if you want to be a manager, you have to carry my bicycle for at least half a year. Starting from the grassroots level, it is a big training.
Zhang Yida replied to Qin Zheng's email: "OK, I have high hopes for this batch of dispatchers. Let's train them well! I hope that the dispatcher management across the country will be born from them."
On the Huayi Capital side, Lei Dongming called and said overjoyed:
“We have officially started raising funds for the second phase!”
Zhang Yida was very calm. He said "oh" first, and then said with a smile:
"I have recently scouted a number of companies, would you like me to send them to you?"