China Times reporter Fu Leran Xuedong reported in Beijing
Recently, Chongqing Longxie Small Loan Co., Ltd. (hereinafter referred to as: Longxie Small Loan) has undergone industrial and commercial changes, and its registered capital has increased to 5 billion yuan.
According to the reporter's incomplete statistics, there are currently a total of 10 online small loan companies with a registered capital of 5 billion yuan.It is generally believed in the industry that the capital increase is to meet the registered capital threshold for operating online small loans across provincial administrative regions.
On June 30, Su Xiaorui, a senior analyst in the financial industry of Analysys Analytics, told a reporter from China Times: "Since the first half of this year, many Internet small loan institutions have increased capital, and the increase in capital can not only reflect the shareholders' interest in online loans. A promising business prospect can also demonstrate its compliance operation and its determination to steadily expand its business scale, and can lay a solid foundation for subsequent business development, so it has become a trend.”
Increased capital to 5 billion yuan
Longxie Small Loan was established in June 2009. On June 6 this year, the company's registered capital increased from 3.5 billion yuan to 5 billion yuan, and the current paid-in capital is 1 billion yuan.
The "Interim Measures for the Administration of Online Micro-loan Business (Draft for Comment)" jointly issued by the Central Bank and the China Banking and Insurance Regulatory Commission pointed out that the registered capital of micro-loan companies operating online micro-loan business across provincial administrative regions shall not be less than RMB 5 billion. , and it is a one-time paid-in monetary capital.
Before the official document was issued, the small loan companies under the Internet have increased their capital to 5 billion yuan to meet the needs of cross-provincial development.According to the reporter's incomplete statistics, there are currently a total of 10 online small loan companies with a registered capital of 5 billion yuan.
In October 2019, Ant’s small loan increased its capital to 12 billion; in April 2020, Suning’s small loan increased its capital to 6 billion; in 2021, JD.com and Meituan’s small loan increased its capital to 5 billion; this year, Tencent, Toutiao, Du Xiaoman’s small loans increased their capital to 10 billion, 9 billion and 7.4 billion respectively; in the same year, 360 Finance and OPPO’s small loans also increased their capital to 5 billion.
This is not the first capital increase of Long and Micro Loan.In March 2020, Long brought the registered capital of small loans from 320 million to 1 billion, an increase of 212.5%.In January 2019, Long brought a small loan to increase its capital by 20 million to 320 million, which was also the first capital increase after OPPO and vivo jointly acquired Long brought a small loan.
The company's investigation shows that in terms of shareholder structure, Chongqing Longhe Technology Co., Ltd. (hereinafter referred to as: Longhe Technology), Dongguan Dejite Software Technology Co., Ltd., and Dongguan Tengsheng Software Technology Co., Ltd. (hereinafter referred to as: Tengsheng Software) ) hold 93.4%, 5% and 1.6% of the shares respectively.Among them, Longhe Technology is a wholly-owned subsidiary of Tengsheng Software. According to this calculation, Tengsheng Software holds a total of 95% of the shares of Longxie Small Loan and is the largest shareholder.
After the equity penetration, natural persons Duan Yaohui and Shi Yujian hold 50.73% and 47.22% of the shares of Longxie Microcredit respectively.According to public information, Duan Yaohui is the vice president of OPPO Group and the president of the mobile phone product line, and Shi Yujian is the senior vice president of vivo.
In other words, OPPO and vivo have jointly deployed consumer finance and jointly hold online small loan licenses.
With the help of the license, vivo has launched self-operated financial products, which are embedded in the mobile wallet.Although vivo has a large user base, it is relatively conservative in terms of consumer finance.
OPPO and Huantai Digital Technology established an independent APP "Huantai Finance", which jumped out of the wallet itself.
Huantai Digital told reporters that Huantai Digital has a Huantai financial APP, as well as a mobile “wallet” APP jointly developed and operated for mobile phone brands such as OPPO and OnePlus.At present, the mobile wallet APP covers more than 200 million users, and provides digital life services and comprehensive financial services for OPPO mobile phone users in multiple fields such as joint e-commerce, transportation, finance, and life services.
In addition, Huantai Digital also cooperates with banks and other licensed financial institutions to provide financial technology services for suppliers and distributors in the OPPO industry chain, including upstream factoring and financial leasing services, and three types of downstream small and micro enterprise services. business.
The reporter opened the Huantai Financial APP and found that financial information services include credit, funds, securities dealers, wealth management, insurance, etc. The cooperative institutions include China Postal Savings, Agricultural Bank of China, PICC, Du Xiaoman, Gome, Suning Consumer Finance, etc.
A few days ago, the top four mobile phone manufacturers in China by shipments have all set foot in the field of consumer finance.Huawei mainly deploys its financial business through the "wallet" APP pre-installed on mobile phones; Xiaomi has financial licenses for small loans, payment, insurance brokerage, Internet banking, etc.; OPPO and vivo obtain online small loan licenses through the joint holding of relevant executives .
Regarding the reasons why mobile phone manufacturers are involved in the field of consumer finance, Su Xiaorui said: "First of all, mobile phone manufacturers have technical advantages in software and hardware, and they have natural convenience in reaching users in terms of pre-installed "wallets", which can help the development of consumer finance business. A good foundation has been laid; secondly, the leading mobile phone manufacturers already have a relatively mature business model in the field of consumer gold, which can 'proof' for latecomers; finally, after several years of 'fan' operation, mobile phone manufacturers have accumulated many loyal users. This C-side advantage can also provide a good foundation for its entry into consumer finance."
The application for the issuance of ABS has received feedback
In addition to the capital increase, in April this year, Long brought a small loan application for the first time to issue ABS.
According to the information platform of the Shanghai Stock Exchange’s corporate bond project, the original owner is Longxie Small Loan, the plan manager is China Securities Co., Ltd., and the proposed ABS issuance amount is 3 billion yuan. It was accepted on February 21, 2022. The project Status is Feedback.
The Internet small loan platform has always been the main force in the issuance of ABS for consumer finance on exchanges. Meituan, Didi, and Ctrip have all participated in the issuance of ABS.However, in the past two years, the overall issuance of consumer finance ABS has shown a downward trend.An insider of the Internet financial platform told reporters that around December last year, the Internet platform company received guidance from the window and suspended the new issuance of the Internet company's consumer financial asset securitization products.Since May, the consumer loan ABS products of Meituan and JD.com have been "new".
Previously, the high leverage ratio under the action of ABS was controversial.In order to "control leverage", the "Interim Measures for the Administration of Online Small Loan Business (Draft for Comment)" stipulates that in a single joint loan, the proportion of capital contribution by a company operating online small loan business shall not be less than 30%.
Experts said that this not only strengthened the corporate restraint mechanism, but also reduced the leverage ratio of online small loan companies, effectively strengthening risk management.
