As of Q3 quarter, Ruixiang Group has generated a total net profit of 800 million yuan.
Of course, this data is obtained after deducting R&D investment and Mobao payment subsidies.
At present, the only profitable sectors of the entire group are the seven major financial supermarket sectors: Internet Financial Supermarket, Loan Supermarket, Credit Card Supermarket, Fund Supermarket, Insurance Supermarket, Bank Financial Management/Loan Supermarket, and Trust Supermarket;
Tiance Technology has cooperated with hundreds of financial institutions and created a net profit of 200 million yuan.
Mung Bean Credit will launch external cooperation in the future, and profits can be expected.
Hantai Fund and Touronghui Wallet have just started operating, so they have not yet generated profits, but they should be able to make profits over time.
Mobao Payment, Diandianchi, AI, blockchain, cloud computing, big data and other sectors are in a state of loss.
Fortunately, this part of the loss has been supported by money from venture capital funds.
The US$500 million in Series B venture capital, which is equivalent to 3.1 billion yuan, has been planned for a long time. Mobao will pay a subsidy of 1.5 billion, invest 800 million in research and development, and acquire financial licenses for 800 million.
The total of 2.3 billion for Mobao payment and R&D investment has already been budgeted, and it will only be exceeded and not reduced.
A total of 368 million was spent on license acquisition, and 600 million was spent on increasing the registered capital of two Internet microfinance companies, exceeding the budget by 168 million. This part of the money was subsidized from Ruixiang's operating profits.
In addition, Ruixiang deducted the RMB 100 million invested in Lefenfen and Miaofenfen in 2013, leaving a balance of RMB 146 million.
The entire Ruixiang Group currently has a total of 778 million idle funds. This more than 700 million is completely available for use.
This is because Ruixiang Group’s personnel salaries and daily expenses are supported by several profit-making sectors. Others, such as Mobao’s huge subsidies and the research and development of cutting-edge technologies, are invested by venture capital funds.
In fact, it is best not to use the more than 700 million in reserve cash, otherwise the group will encounter problems and there will not be enough risk reserves.
But Zhang Yida decided to withdraw US$100 million, equivalent to RMB 616 million, from Ruixiang Group and invest it in the industrial investment fund.
In this case, Ruixiang Group's cash reserves were suddenly exhausted, leaving only 162 million yuan. If something uncontrollable happened, it would have no choice but to seek help.
However, Zhang Yida feels that the most uncontrollable business is the consumer finance and wealth management business group. If the fund suffers losses, it will not be a big problem. Users are responsible for their own profits and losses, and the risks cannot be passed on to the parent company.
I am afraid that if I invest in Ronghui Wallet, the overdue rate of IOUs will explode and users will not pay back. However, there are 600 million in cash from Internet small loans, and the worst case scenario is that all 600 million will be lost.
However, this is basically impossible. The 600,000 users currently granted credit can be considered as the 600,000 users with the best credit among the 150 million users. The risk is relatively controllable.
Zhang Yida smiled, he was already suffering from delusions of being persecuted.
Yimin Financial Services Group is generally profitable here.
As of the Q3 quarter, Yimin Financial Services' revenue in the first three quarters totaled 513 million yuan, and its net profit reached 85 million yuan.
Among them, four subsidiaries, Yimin Wealth, Yimin Financial Management, Yimin Puhui and Yimin Dai, have entered full profitability.
Huinong Dai and Ruimin Financial Management were newly opened and are still in the early stage of investment, so they have incurred certain losses.
In 2013, there was a balance of 100 million yuan, plus the US$25 million won from gambling, Yimin Financial Services Group has a total cash reserve of 339 million yuan.
Yimin Financial Services Group only received a round of Series A financing of US$50 million, which is equivalent to a little over 300 million. Now Yimin Financial Services has so much cash reserves, which is equivalent to earning back all the money burned in the early stage.
.
If we extend the timeline to 2013, the losses in 2013 and the profits in 2014 will be exactly offset.
Zhang Yida lamented that he only made money by doing business. The cash reserves of Yimin Financial were almost half of those of Ruixiang Jinke.
Moreover, Yimin Financial Services does not deduct any subsidies, sales expenses, and R&D investment, so it is fully profitable in the true sense. Ruixiang Group's full profitability is still far away.
This is the difference between being an intermediary and doing direct business!
Yimin Financial Services Group had 339 million in cash, and Zhang Yida decided to invest US$50 million, or 308 million yuan, into the industrial investment fund.
The remaining 31 million yuan is reserved for corporate emergency reserves.
Yimin Wealth has transformed into high-end wealth management, and users are responsible for their own profits and losses when investing.
The biggest risk still comes from Yimin Financial Management + Ruimin Financial Management, Yimin Puhui + Yimin Loan. The two major financial management companies are most afraid of a run wave, and the two major loan companies are most afraid of the outbreak of overdue and bad debts.
Moreover, these four major companies serve as fund suppliers and asset suppliers to each other, and risks are passed on to each other.
If one family is unlucky, it will affect the other three families.
For example, if the funds provided by Yimin Financial Management were borrowed by Yimin Puhui and could not be recovered, then Yimin Financial Management could not repay the lender's money, and a redemption crisis broke out.
Then Yimin Financial Management will be unable to provide funds to Yimindai, and Yimindai's operations may be paralyzed.
Yimindai was paralyzed and could not provide credit assets. The funds raised by Ruimin Financial Management did not know who should be provided to...
So in the later stage, Zhang Yida planned to make a split. Yimin Financial Management + Yimin Puhui formed a pair of CPs, and Ruimin Financial Management + Yimin Loan formed another pair of CPs.
The two pairs of CPs no longer intersect, thus isolating some risk transmission.
Huinong Loan is too small and has little impact on the broader market.
Ruixiang invested US$100 million and Yimin invested US$50 million, which solved US$150 million.
There is still a gap of US$50 million. Blackshirt Capital, Zhenke Fund, and Temasek can cooperate.
However, there is no rush on this matter at the moment, and there is no need to allocate funds. We have to wait until Lei Dongming has raised enough funds.
…
He Qingxuan made an appointment with Zhang Yida for dinner today. At a Western restaurant, Zhang Yida saw He Qingxuan wearing a white dress.
She also wore light makeup today, looking like a goddess. As soon as she entered the restaurant, she attracted the attention of many men. It was not until Zhang Yida appeared that a group of spectators slowly withdrew their attention.
Zhang Yida noticed this and said with a smile:
"Beautiful He is truly a goddess. The male customers present can't even turn their eyes when they see you."
He Qingxuan's pretty face turned slightly red, and she said angrily, "How could that be? If you keep talking nonsense, I'll tell Erya if you believe it or not."
"Say it, I'm not afraid of anything. What I said is the truth. You have to face the facts." Zhang Yida said nonchalantly.
The waiter on the side stepped forward and asked the two to order, and each ordered a steak. Zhang Yida specifically told the waiter:
"Bring me another plate of dried chili noodles!"
The waiter was a little confused as to what kind of operation this was, and said with a wry smile:
"I'm sorry, sir! We only have black pepper sauce here."
Zhang Yida was speechless. When eating steak in Sichuan, they provide chili noodles, which tastes better. What's so delicious about black pepper sauce?
He Qingxuan came to the waiter's rescue and chuckled:
"You have a lot of magic tricks! The steak with dried chili noodles looks delicious!
But they don’t have it here, so don’t make things difficult for them.”
"Okay, just black pepper sauce!" Zhang Yida waved to the waiter with a look of despair.
"What do you want with me? Goddess He." Zhang Yida guessed that He Qingxuan must have something with him, so he asked directly.
"What's wrong? Can't I treat you to dinner if you have nothing to do?" He Qingxuan began to make circles for Zhang Yida.
"Okay! It's not a bad idea to treat someone to dinner. I'm so poor these days that I can hardly afford to eat, so a few meals are just right." Seeing that she wasn't talking about the topic, Zhang Yida also followed suit.
"Are you still poor? A regretful creation of Ali Jack Ma? Ordinary family Ponima? Plus Zhang Yida who can't afford to eat?" He Qingxuan chuckled, and ripples trembled in her chest.
Zhang Yida glanced twice, quickly looked aside, and sighed: "My skills are far worse than these two big guys.
Also, I am really poor. The company is rich, but the shares cannot be liquidated now. I can only take my dead salary now."
What Zhang Yida said is true. He is really like a wage earner at the moment. He is just a high-level wage earner. Ruixiang and Yimin combined give him a salary of 5 million yuan after tax every year.
He Qingxuan didn't believe Zhang Yida's words. He easily spent 40 million to buy his father's company. The media said Zhang Yida was worth tens of billions...
He Qingxuan chatted with Zhang Yida for a long time, and finally returned to the topic and said with some embarrassment:
"After my father sold the company, he went on a trip with my mother for more than a month. After returning to the capital, he stayed at home every day without going out, sighing.
I think he must be confused about the rest of his life. He is still young, not yet fifty years old.
He will definitely not be willing to stay at home with nothing to do now. Can you give me some advice on what my dad can do?"
After saying that, He Qingxuan looked at Zhang Yida longingly.
Zhang Yida understood He Shenghua quite well. The business he had worked so hard to establish and had been with him for more than ten years was gone.
Financial satisfaction cannot fill the emptiness and loneliness in a person's heart, especially a middle-aged man who is at his peak and full of career ambitions.
However, He Shenghua is not suitable for starting a business on the Internet, or in any field that he does not understand.
The loan industry is probably the most suitable one for him!
Hey, there it is!
Zhang Yida looked at He Qingxuan and considered whether to tell her.
Seeing the troubled look on Zhang Yida's face, He Qingxuan couldn't help but smile and said: "You can just say whatever you want? What is there to be scrupulous about?"
Hearing this, Zhang Yida did not hesitate and said seriously:
“The most suitable career for Uncle He is the loan industry!
If he wants to continue working in the loan industry, he can come to work in our company. Yimin Financial Services Group has Yimin Puhui and Huinongdai, both of which focus on offline loans.
Yimin Puhui focuses on consumer loans for urban residents, while Huinong Loan provides entrepreneurial loans to farmers.
In the future, the business of both companies will cover the whole country, and branches will be opened in various provinces and cities. If Uncle He is interested, he can choose from both companies, and I can also give him a province for him to take charge of management."
He Qingxuan thinks this is also very good. If it manages a province, its scale may be even bigger than Dad's previous Jingrui Loan Company.
It is also my father’s favorite loan industry. If he has something to do, he won’t stay at home and sigh every day.
Thinking of this, He Qingxuan looked at Zhang Yida with sincere eyes and thanked:
"Zhang Yida, thank you for your help!"
Zhang Yida waved his hand and said it was no big deal and there was no need to move the heavens or the earth.
He Qingxuan raised a goblet full of red wine, clinked it with Zhang Yida, and said:
“Here’s to you!”
After saying that, he drank the red wine in the glass in one breath.
After a while, two red clouds appeared on her face, her beauty was beyond compare. She bit her lower lip and said:
"Can you do me one more favor?"
"Say." Zhang Yida was eating with his head buried in his knife and fork.
"I want to deal with Liang Weimin. He almost made my father bankrupt. I must not let him go. Can you give me an idea?"
He Qingxuan said bitterly, and then looked at Zhang Yida with hope.