People's net " People venture capital

PPmoney denied that the store disbanded "flash marriage" ofo to "yellow"?

Huang Sheng

06 December 2018, 08:31 source: People net - people venture capital

2018, it is destined to be a sad year for ofo.

The news that the deposit is hard to retreat, bankruptcy and reorganization, and the breakup of capital chain are like nightmares.

Meanwhile, the P2P financial lending platform PPmoney, which has been through the thunderstorm tide, is also in constant crisis. Facing the problems of tightened policy supervision, continuous rumours of departmental disintegration and slow growth of traffic volume, it is difficult to survive.

They had to come together for their respective purposes, but the ofo and PPmoney "flash marriage" were less than five days. The two sides jointly issued a statement that the event was temporarily out of line due to some cooperation details.

The "married" PPmoney faced the first crisis. In November 30th, WeChat public number "red road wind control" said that several stores in the Pearl River Delta PPmoney announced the dissolution in November 30th, and owed wages and royalties to employees. But PPmoney denied it by "untrue".

However, under the environment of tighter financial regulation and P2P thunderstorm, it is an indisputable fact that the P2P net loan industry has encountered "cold winter". By the end of November 2018, the number of normal operation platform of P2P net loan industry dropped to 1181. Compared with the end of October, the number dropped by 25, and there was no new platform for fourth months.

P2P net loan goes to the crossroads of the industry. Ouyang Rihui, vice president of China Internet Economics Research Institute of Central University of Finance and Economics, thinks that the liquidity crisis, credit crisis and moral crisis of the net loan platform are intertwined, which has led to panic in the industry, and investor confidence has been greatly affected. Head platforms, large platforms and investors believe that there are problems with the "background" platform, and even collapse and run away. The development prospect of the entire industry is worrying.

Today, PPmoney has survived the thunderstorm, and the crisis has not yet been lifted.


The crisis came from WeChat's "red road wind control". In November 30th, the WeChat official issued "PPmoney went out of the air", eight departments have been disbanded. The article said that an important department of PPmoney was dissolved in November 30th.

The disbanded "eight departments" refer to the housing department, the factoring Department (Tonghui factoring Co., Ltd.), the capital business department (more than ten million of the loan business), the small loan refinancing business department, the guarantee department (Guangdong Nasta Company limited by guarantee), the supply chain finance department, the vehicle loan department, the one step car buying business department (Wan Hui Finance Leasing Co., Ltd.). At present, the remaining Department of credit and loan (network small loan business) is still maintained.

The article also said that ppmoney is still in arrears of employees for more than a month bonus, should not issue a commission, a total of more than 200 yuan. The layoffs will not be deduct, and the economic compensation will not be paid according to the labor law, resulting in the majority of employees going to collective arbitration. At present, the arbitration has been put on file and awaiting trial.

In response, PPmoney told people's venture capital (ID:renminct) that in November 30th, rumors from our media about the operation of our company were malicious. On the same day, under the leadership of PPmoney Wan Hui group chairman Chen Baoguo and PPmoney net loan CEO Hu Xin, Ou Junqing, director of the local finance office of Guangzhou, investigated the platform operation.

Chen Baoguo, chairman of PPmoney Wan Hui group, said that in the sensitive period of the industry, individual media have caused bad effects by thrilling headlines and false content. At present, many lenders have come to inquire. The platform is patiently communicating with investors to explain the work. At the same time, the company has reported to the public security organ for the first time, and has received a report receipt.

Chen Baoguo said that the sensitive period of industry refers to the problems of P2P network lending platform contraction business in 2018, thunderstorm running and tighter financial supervision.

According to the data of net loan home, as of the end of November 2018, the total number of closed businesses and problem platforms reached 5245, and the number of accumulated platforms in the P2P net loan industry reached 6426 (including shutting down businesses and problem platforms).

"This is different from the past e rent treasure and other closures." Ouyang Rihui said that in 2018, the number of platforms for closing down, liquidation and other problems in the P2P net loan industry was again on the rise because of the combined effects of various factors such as regulatory compliance requirements and poor management, and actively announced that the platform for overdue, restructuring, liquidation and exit had increased significantly.


2018, the P2P net loan platform is particularly difficult for one year.

In the short span of 50 days from June to late July, there were about 212 net loan platforms running out of service, platform closing, active withdrawal and difficulties in raising cash, with an average of 4.24 platforms per day.

There are many famous platforms such as Tang Xiaoseng, Lian Bi finance, Qian Bao network and Ya Tang finance. If we estimate 5000 investors on each platform, we will have millions of victims.

P2P network loan platform thunderstorm and policy regulatory environment is not related. Since July 2015, the central bank and other ten ministries jointly issued the "guidance on promoting the healthy development of Internet finance", regulatory policies have been gradually stricter.

In particular, in 2017, the CBRC issued the guidelines for the management of lending funds and the information disclosure guidelines for intermediary business activities of network information lending agencies. The central bank and other seventeen departments jointly issued the notice on further improving the Internet financial risks and clearing up the whole work. The net loan regulation issued the notice on the rectification and acceptance of P2P network lending risks.

The supervision gate is tightly pulled down, the thunder storm of P2P network loan platform. In the cold winter of 2018, "living" has become their primary task this year.

Ouyang Rihui said, P2P network lending platform dense exit from the industry, in the short term, the whole net loan industry will generate reputation risk, will have an impact on investor confidence. But the withdrawal of institutions is the most direct way to educate the market and educate investors. In the long run, breaking the rigid exchange and clearing the market is the labor pains that the whole industry must go through. Without experience of loss, the market will never grow healthily.

Ouyang Rihui believes that if a market does not exit mechanism, a large number of zombie enterprises and institutions occupy resources, which is an inefficient market. The goal of special rectification of P2P net loan industry is to establish a long-term mechanism for supervision, and exit mechanism is an important part of long-term mechanism. Therefore, with the deepening of the special rectification work of mutual funds, compliance requirements will fall to the ground, and the institutional withdrawal and market clearing of the net loan industry will continue. This will be a normal situation.

PPmoney is one of the net loan platforms that have survived the thunderstorm. PPmoney said to the people's venture (ID:renminct) that as of September 30, 2018, the total number of users of PPmoney net loan has exceeded 36 million, and the number of borrowers is 5 million 123 thousand, with a total loan amount of 15000 yuan per capita.

However, behind the huge and magnificent data, PPmoney was accused of abolish eight major sectors, such as the housing department, and so on. This has also become a microcosm of the economic cold winter.

Founded in 2012, the PPmoney net loan platform is operated by Wan Hui Cci Capital Ltd. The latter is a wholly owned subsidiary of PPmoney Wan Hui group.

People's venture capital (ID:renminct) learned from the data of enterprise inspection that the chairman of PPmoney Wan Hui group is also the helm of Chen Baoguo, the operator of Cci Capital Ltd PPmoney. At the same time, Chen Baoguo is also an expert on Internet financial product research and development in the Asia Pacific region. He is now the president of Guangdong Internet Finance Association, vice president of Guangdong high tech chamber of Commerce, vice president of modern service industry of Guangdong, and director of Guangdong Credit Guarantee Association.

According to the data collected by enterprises, Chen Baoguo also acted as a legal person in 16 enterprises directly or indirectly related to Wan Hui Cci Capital Ltd, and served as executive directors, general managers or supervisors in 19 companies, and 18 affiliated companies were held by individuals or through enterprises.


Initially, under the guidance of Chen Baoguo, PPmoney caught up with the tide of Internet financial development.

In August 2015, Cci Capital Ltd, a holding company in Guangzhou, was successfully listed on the new three board by Polytron Technologies Inc.

At that time, in the guiding opinions on promoting the healthy development of Internet Finance issued by several ministries and commissions of the people's Bank of China, qualified high quality institutions were encouraged to list and raise funds in the domestic capital market, such as motherboards and gem, and encouraged the widening of financing channels for Internet Financial Institutions.

Internet financial network loan platform ushered in a period of rapid rush. PPmoney became a member of the policy dividend at that time.

In the data at that time, the total turnover of PPmoney reached 1 billion in December 2013, and by December 2015, PPmoney's single month revenue was 20 million 500 thousand yuan. In 2015, its annual revenue was nearly 245 million yuan, the new user was 2 million 724 thousand, and the matching financing amount was 28 billion 724 million yuan.

Here, PPmoney Wan Hui group won the 200 million yuan A round financing of the security capital investment, and the net loan platform business has been constantly adjusted. From doing business loan and guarantee related business, it gradually transformed into the multi business mode of consumer finance, auto finance and three rural finance.

In 2016, PPmoney received $375 million from Yang Jianxin, the chief executive of Guangzhou, the real controller of border crossing, and the B of Guangdong Guangdong holding group, the largest shareholder of Guangdong and Thailand.

In the same year, PP money achieved profitability - annual revenue of 341 million yuan and net profit of 36 million 130 thousand yuan. In September 2017, the figure was 327 million yuan in monthly revenue, 109 million yuan in net profit and 80% in gross profit margin.

However, after 2017, under the new policy that financial enterprises were unable to finance the new three boards, many Internet financial companies delisted new three boards, and Guangzhou Wan Hui gold control Polytron Technologies Inc became one of them.

However, these did not affect the capital preference of PPmoney.

In July 2018, PPmoney Wan Hui group won the C round of 600 million yuan financing. The investors include Guohui Jin Hui, Hui Yin De Qing, Ming Tai capital, Cathay Pacific Road and other well-known domestic institutions.

In November of this year, PPmoney held its third quarter business report, which disclosed the unaudited financial data: in 2018, 1-9, the platform revenue continued to rise. As at the end of the third quarter, the total revenue of the platform was nearly 800 million yuan, and the total operating profit continued to grow. In the first three quarters of 2018, the growth rate was 109%, and the growth rate was 116%.

In July this year, at the conference of PPmoney Wan Hui group's C round of financing, Chen Baoguo said that PPmoney will further enhance its investment in products, wind control, technology, talent, brand, operation and other fields, and provide more efficient financial services for more than 30 million registered investment and loan users.


Today, Chen Baoguo's rhetoric is not dispersed, but the P2P network loan platform has been constantly thundering and hard to survive.

It is also this time that the topic of ofo negative news constantly sharing, cycling out of the international market, bankruptcy reorganization and capital chain breaking has been mentioned repeatedly.

In this way, ofo and PPmoney chime in with each other, and the two sides have reached a cooperation to warm up.

In November 23rd, when the ofo user received a deposit of 99 yuan, he was reminded to agree to become a PPmoney user when he applied for a refund.

In the original cooperation plan of PPmoney and ofo, the user of ofo 99 yuan deposit became a new user of PPmoney after a key upgrade. It agreed and agreed to upgrade the ofo 99 yuan deposit into a 100 yuan specific asset of PPmoney. After the upgrade is successful, specific assets are loaned to the PPmoney novice welfare project by default. At the same time, the new age benefit rate of 8%+8% of the project is 30 days. After the expiration of the lock, users can apply for exit, and the corresponding principal and interest can be obtained after the exit. However, if users want to check the balance, they need to download the PPmoney software and register for landing.

According to the interface news report, when ofo users agree to authorize the deposit to be converted into PPmoney's financial management fund, PPmoney will pay 100 yuan / person's diversion fee to ofo, including interest rate.

That is to say, in the original plan of the two sides, PPmoney can earn a new user only by paying 201.3 yuan.

PPmoney, Wan Hui group, disclosed to the people's venture (ID:renminct) that as of September 30, 2018, the total number of users of the PPmoney net loan service has exceeded 36 million, the number of borrowers is 5 million 123 thousand, and the cumulative loan amount per capita is about 15000 yuan. Up to the end of the third quarter of this year, the total revenue of the platform was nearly 800 million yuan.

Behind the seemingly good performance, slowing growth is also an indisputable fact. In 2017, the number of newly registered PPmoney users was close to 1 million 620 thousand. In 2018 and 1, October, the number of new users increased by more than 680 thousand. The reality of the demographic dividend and the difficulty of obtaining new traffic were also happening on the PPmoney platform.

This can be seen in the "double eleven" marketing of PPmoney, one or two.

In this year's double eleven traffic battlefield, the PPmoney public number's Koi marketing campaign tweets reading volume is more than 3000, higher than the platform push in the past. However, the conversion rate of traffic, that is, how to convert public traffic to new PPmoney users, is still hard to predict.

One stone stirred up waves. In the face of the compliance of the deposit to the online loan platform, the legitimacy of the operation process and the public doubt, PPmoney and ofo made a joint statement on the cooperation between the two sides, saying that ofo and PPmoney belong to normal cooperation. Users can choose whether to participate in the activity according to their actual needs after being fully informed of the authorized content.

PPmoney told people's venture (ID:renminct) that the cooperation between PPmoney net loan and ofo is a normal attempt of cross industry cooperation, which belongs to commercial behavior. "Due to the confidentiality provisions of the contract, it is not convenient to disclose specific cooperation details."

In fact, not only PPmoney, a network loan platform, is exploring cooperation with ofo.

According to the Beijing News, ofo aims to achieve commercial realisation on a large scale. It works with Wanda Pu Hui, small black fish credit, loan money, provincial chanting, nine rich cards, Xiao Bai Lai flower, 360 IOU, dots, and many other net loan platforms. In its App's "look" and "wallet" columns, it has embedded related network loan platform promotion services.

"From a marketing point of view, it is quite successful." Yin Zhentao, deputy director of the law and Finance Department of the Financial Research Institute of the Chinese Academy of Social Sciences, said that the cooperative design of ofo and PPmoney is not a bad thing for ordinary users. Ofo is in a tight financial period, and users need to withdraw the deposit. There is not much difference in time between users waiting for the deposit refund on the ofo platform and waiting to return on the PPmoney platform. Such cooperation is good for both sides of the platform. Ofo's financial pressure has been alleviated. PPmoney can also increase passenger and brand publicity in today's Internet lending industry.

Yin Zhentao said that the cooperation is temporarily shelved. In essence, the two industries in both sides are at the focus of attention. The two industries have also had more industrial incidents in recent years, which has brought more attention from public opinion.

Yin Zhentao also believes that the net loan industry is now in the "darkness before dawn". With the promotion of mutual funds in recent two years, changes in the market regulatory environment, and more rational investors and changes in asset channels, the survival of the fittest in the net loan industry will become the norm.

He said that in the process of market turbulence, some platforms may disappear, investors may fail, but eventually they will leave a compliant and legitimate network lending platform. In the future, there will be a better environment for development.

(Editor: Huang Sheng, Zhang Chen)

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