Zhao Guodong Jinkong "Yangmou": Omar's electrical financial license to collect Qilongzhu"?

This article was first published on the WeChat public account: Mujin. The content of the article belongs to the author's personal opinion and does not represent the position of Hexun.com. Investors should act accordingly, at their own risk.

Zhao Guodong, the former vice president of Jingmao Electric (002668.SZ), is in the overall situation. Zhao Guodong’s ambition to build a gold control platform with Omar Electric has been exposed.

Up to now, domestic companies engaged in different financial businesses need to obtain the license of the relevant regulatory authorities, that is, financial licenses. The financial licenses currently required to be approved include banks, insurance, trusts, brokerages, financial leasing, futures, funds, fund subsidiaries, fund sales, third-party payment licenses, micro-credits, and pawn. Among them, some financial licenses have been discontinued, and if they want to engage in related businesses, they must adopt acquisition methods.

Mujinjia noted that since December 2015, Oma Electric has begun to collect “Dragon Ball” and has applied for a number of core financial licenses, including Internet microfinance loans, through independent and joint sponsorship. Licences for licenses, public fund licenses, Internet property insurance licenses, asset management licenses, insurance brokers, life insurance, etc.

Oma Electric has invested in financial companies at a glance

Source: Company Announcement

Among them, in 2016 alone, Oma Electric has set up a subsidiary company wallet insurance, wallet gold certificate, Tibet net gold, wallet easy, wallet small loan. In addition, the company also participated in the establishment of two financial enterprises including Western Life Insurance Co., Ltd. (Western Life Insurance) and Guangxi Guang Investment Management Co., Ltd. (Guangxi Guangtou).

In this regard, some industry veterans believe that in the future, consumer finance and the Internet will be highly developed, and the technical barriers to entry into Internet finance will gradually weaken. In contrast, the destabilizing factors in the sub-sectors are mainly due to policy changes, so the license admission qualification is the strongest barrier to entry and the key to determining whether the enterprise has core competitiveness.

According to the company announcement, Zhao Guodong plans to increase the company's shares within 6 months from May 3, 2017 (May 3, 2017 to November 3, 2017), and increase the company's shares by not less than 300 million yuan. Or the cumulative shareholding of the company's shares is not less than 2% of the company's total shares.

Collecting "Dragon Ball"?

On April 28th, Omar Electric announced that the company's shareholding subsidiary Guangxi Guangxi Investment has obtained the asset management license issued by the China Banking Regulatory Commission, which has become an important step in the company's pan-financial business layout. The registered capital of Guangxi Guangtou is 100 million yuan, and the company accounts for 19% of the total investment.

As of the date of the announcement, Guangxi Guangtou has obtained the authorization of the People's Government of Guangxi Zhuang Autonomous Region as an autonomous regional asset management company to carry out the acquisition and disposal of non-performing assets of financial enterprises.

According to the number issued by the China Banking Regulatory Commission, the Banking Regulatory Commission [2017] No. 702 "The Office of the China Banking Regulatory Commission announced the list of local asset management companies in Yunnan, Hainan, Hubei, Fujian, Shandong, Guangxi Zhuang Autonomous Region and Tianjin. The Notice of the Notice (hereinafter referred to as the “Notice”), from the date of issuance of this Notice, financial enterprises may, in accordance with the relevant laws, regulations and the “Administrative Measures for the Batch Transfer of Non-performing Assets of Financial Enterprises”, transfer the non-performing assets in bulk to Guangxi Guangtou.

The so-called batch transfer refers to the behavior of financial enterprises to group 3 or more non-performing assets and transfer them to asset management companies.

Financial enterprises and local asset management companies shall strictly abide by the laws, administrative regulations and regulatory requirements for the management and disposal of non-performing assets of financial enterprises when conducting bulk transfer and disposal of non-performing assets of financial enterprises. Financial enterprises may not transfer non-performing assets in bulk to financial asset management companies or entities other than local asset management companies. When important matters occur, they should report to the CBRC and the Ministry of Finance in a timely manner.

According to the announcement disclosed by Oma Electric on September 13, 2016, Guangxi Guangtou is supported by Guangxi Investment Group Financial Holdings Co., Ltd. (Guangxi Jinkong), Acer Shanghai Equity Investment Management Co., Ltd., and Fujian I want to have limited automotive network technology. The company, Zhongheng Group 600252, stock bar (600252.SH) and Guangxi Guofu Innovation Equity Investment Fund Management Co., Ltd. (Guangxi Guofu) jointly initiated the establishment.

Among them, Guangxi Jinkong's capital contribution is 200 million yuan, Guangxi Guofu's capital contribution is 50 million yuan, and the rest of the capital contribution is 190 million yuan.

Previously, Omar Electric announced in December 2016 that its holding subsidiary Ningxia Wallet Gold Co., Ltd. has obtained the “Ningxia Hui Autonomous Region Microfinance Company Business License”. However, the approved business license is valid until April 30, 2017. The company needs to complete the renewal of the wallet small loan in accordance with relevant regulations, and apply to the competent authority for renewal of the new business license.

As early as the end of 2015, Omar Electric also plans to launch the establishment of Ju'an Property Insurance Co., Ltd. and establish a wholly-owned subsidiary of Wallet Insurance Brokers Co., Ltd.

Among them, the sponsors of the giant insurance investment were drafted into a total of six, including Omar Electric and five other legal persons. Oma Electric invested 10 million yuan, accounting for 10.00% of the total share capital. The company contributes in cash, all from its own funds.

Ju'an Insurance intends to invest in equity structure

At that time, Omar Electric also said that the purpose of this investment is to set foot in the insurance business, and it is also a key step for the company to establish the goal of the Internet financial ecosystem. As a starting point, the company will gradually establish an Internet insurance business. Plate.

On January 20, 2016, the company's controlling subsidiary Zhongrongjin Beijing Technology Co., Ltd. (Zhongrongjin) planned to cooperate with Zheshang Venture Capital Co., Ltd., Guangdong New Value Investment Co., Ltd., Shanghai Zhongji Enterprise Group Co., Ltd., Zhejiang Zhejiang Shanghui Yue Wealth Management Co., Ltd. jointly invested in the establishment of Puze Fund Management Co., Ltd. The registered capital of Puze Fund is planned to be RMB 200 million, and Zhongrong Gold will contribute RMB 40 million, accounting for 20.00% of the registered capital. On December 23, 2016, including Omar Electric and seven other legal persons, it is proposed to establish Western Life. Among them, Oma Electric invested 110 million yuan, accounting for 11.00% of the total share capital.

However, as the company is still at a critical moment in the layout of license resources, the above-mentioned business development is still limited in the short term, and it will take time for the company's performance to reflect.

Scene financial ecosystem

Mujincai noted that as of now, the main profit contribution of the company's Internet finance sector comes from the company's controlling subsidiary Zhongrongjin.

In 2016, Zhongrongjin achieved operating income of RMB 2,957,858,500, a year-on-year increase of 150.13%, and a net profit of RMB 1,611,792,000, which was attributed to the net profit of listed companies of RMB 73.290 million.

On the evening of May 9, 2017, Omar Electric announced that it has completed a 100% equity acquisition of its subsidiary Zhongrongjin (previously acquired 51% at the end of 2015; announced in April 2017 to acquire the remaining 49%). To this end, Zhongrongjin promised that the net profit for 2017-2019 should not be less than 240 million yuan, 264 million yuan and 290 million yuan respectively.

From the layout of Omar's Internet finance business, it covers B-end (including financial institutions) and C-terminal financial service portals. Compared with the advantages of e-commerce in terms of consumption scenarios and traffic, Omar Electric mainly acquires and builds offline consumption scenarios through equity acquisition and self-built methods.

According to the company's plan, the company will further deploy the technology finance field in the future. With the strategic concept of “Scenario + Technology + New Finance”, the company will further lay out the financial technology field and actively build a financial ecosystem based on the scene.

According to public information, Zhongrongjin has a self-operated Internet lending platform “Good Loan”; and it has a mobile phone APP credit card preferential information distribution mobile Internet platform “Caihui”, and also carries out bank credit card application, bill management and other cards. People service business. In addition, Zhongrongjin conducts auto finance services through its subsidiary Qiankun Good Car.

At present, Zhongrongjin's Haobaobao and Qiankun Good Cars mainly charge platform service fees and technical service fees as the main source of income.

GF Securities 000776, stock analyst Liu Xuefeng said that although the company has not disclosed the service fee rate level, but according to the current good loan platform, Qiankun good car transaction scale, can basically be calculated, the service rate is on average about 1%.

For example, the bank's mobile financial platform launched by the company's banking financial institution, Bank Treasure, has not yet obtained a financial asset trading license, so its business model and current Dalian Financial Assets Exchange Zhongke Jincai 002657, stock bar holding), online gold The company has different discrepancies, such as the company's licenses, and can only obtain technical service fees, information and service fees through the provision of platforms, and cannot conduct product design and other services.

As of the 2016 annual report, the company has nearly 1.58 billion yuan in hand-money funds, plus 3 billion yuan in supporting financing and 1.9 billion yuan in non-public offerings. At the same time, the company announced a non-public issuance of 1.010 billion yuan of corporate bonds. Roughly calculated, the company's direct use of funds is nearly 8 billion yuan.

Liu Xuefeng believes that in view of the fact that the company has obtained a microloan license and has sufficient capital, and considers the development plan of the company's development of consumer finance and the existing financial business layout, it is expected to use its own funds to carry out credit business in the future, which will be much greater than There are about 1% of the service fees that can be collected by Haobao and Qiankun.