300 billion P2P giant put on file for investigation late at night

category:Finance
 300 billion P2P giant put on file for investigation late at night


On May 31, the micro loan network announced in its official micro signal that due to the national policy and industry trend, the micro loan network decided to withdraw from the online loan industry before June 30, 2020 and no longer operate the online loan information intermediary business.

Image source: wind

Photo source: screenshot of official website of micro loan website

According to the financial report of the micro loan network in 2019, the outstanding loan balance of the micro loan network by the end of last year was 13.7 billion.

Suspected of illegally absorbing public deposits

In addition, Shangcheng branch of Hangzhou Public Security Bureau also issued the announcement on loan collection of micro loan network online lending platform, the full text of which is as follows:

To: borrower of micro loan (Hangzhou) Financial Information Service Co., Ltd. (micro loan network online lending platform)

1. The collection work of micro loan network will be included in the overall disposal of the government. The original collection system, organizational structure and personnel will remain unchanged. The collection work is subject to the unified management, supervision and guidance of the government. The borrower of the platform shall consciously cooperate with the loan collection work and actively repay the loan according to the requirements of this collection announcement.

3. If the platform borrower refuses to fulfill the repayment obligation, maliciously evades or withdraws the debt, and still fails to repay after collection, which is suspected to constitute a crime, the public security organ will severely punish it according to law.

2u3001 Repayment account

1. The original repayment route of the platform borrower remains unchanged;

It is hereby announced.

Shangcheng District branch of Hangzhou Public Security Bureau

Office of leading group for financial prevention and online lending risk management in Shangcheng District, Hangzhou

July 4, 2020

According to qixinbao, Yao Hong is the actual controller of the micro loan network, with a shareholding ratio of 60.11%; Han Ding Yuyou, the second largest shareholder, holds 15.54% of shares through a wholly-owned subsidiary, and the third largest shareholder is Deqing Jinxiu management consulting partnership (limited partnership), with a shareholding ratio of 13.19%.

The reason is that since February 18, 2020, the investment of X intelligent investment directly penetrates the underlying assets. If the investors directly hold the lending object, they will not undertake debt to carry on. At the same time, due to the impact of the epidemic situation and the reduction of the regulatory requirements of P2P stock scale, no new bid will be issued. The original x smart investment will cash the principal according to the maturity date of the penetrated target, and the income part will not be cashed temporarily.

Photo source: photo web

According to the financial report of 2019 released by the micro loan network, the net income of the micro loan network in 2019 is 3.358 billion yuan, a year-on-year decrease of 14.21%. According to the micro loan network, this part of the decrease is mainly due to the reduction of loan service fee.

In 2019, the net profit of the micro loan network was 263 million yuan, a year-on-year decrease of 56.52%. In addition, the net profit attributable to common shareholders was 253.6 million yuan, a year-on-year decrease of 64.86%. In 2018, the index was 721.6 million yuan.

In novel coronavirus pneumonia, the loan volume and loan balance in the first quarter of 2020 were negatively affected by the new crown pneumonia epidemic. In response, microlending networks have taken a more prudent approach to managing their loan portfolios and are adjusting their business strategies to minimize the impact of the epidemic on their business.

Photo source: screenshot of official website of micro loan website

The share price is down 90% from its peak

The micro loan network was launched on 2011, and the main Internet plus Finance + car mode was listed on the New York stock exchange in November 2018, with the ticker symbol WEI. The company became the second P2P listed company in Zhejiang Province after 51 credit cards were listed in Hong Kong.

On the same day, the opening price of the micro loan network was $10.50/share, and then reached the peak of the stock price of $13.63/share the following month, and then it went down unilaterally. Since March 5, 2020, the share price of the micro loan network has been hovering between $1 and $2 for a long time. According to the NYSE rules, companies whose stock price is less than $1 for a long time will face delisting, and the micro lending network will also face the risk of delisting. By the end of July 3 (Friday), the market value of the micro loan network was $93.71 million, and the stock price was only $1.33/share, which had dropped more than 90% from the peak. In addition, according to the daily economic news (micro signal: nbdnews), the reporter learned from people familiar with the matter that the regulatory authorities required all online lending platforms in Hangzhou to withdraw from P2P business before the end of June. What is the cause of the car loan model behind the micro loan network of Listed Companies in the United States? In 9 years, micro loan network suspected of non sucking was formally filed for collection under the unified management of the government. Hangzhous largest P2P cool: nearly 10 billion yuan has not been paid back! Source: daily economic news editor in charge: Chen Hequn_ NB12679

By the end of July 3 (Friday), the market value of the micro loan network was $93.71 million, and the stock price was only $1.33/share, which had dropped more than 90% from the peak.

In addition, according to the daily economic news (micro signal: nbdnews), the reporter learned from people familiar with the matter that the regulatory authorities required all online lending platforms in Hangzhou to withdraw from P2P business before the end of June.