Vipshop consumer gold license was finally approved, but the financial business fell behind

category:Finance
 Vipshop consumer gold license was finally approved, but the financial business fell behind


According to the reply, the company should examine the qualification of shareholders and handle the preparatory work in strict accordance with the relevant laws and regulations, and complete the preparatory work within 6 months from the date of approval.

Sichuan weipin Fubang Consumer Finance Co., Ltd. is under the supervision and guidance of Sichuan banking and Insurance Regulatory Bureau, and shall not engage in financial business activities during the preparation period. After the completion of the preparatory work, an application for business opening shall be submitted to Sichuan banking and Insurance Regulatory Bureau in accordance with relevant regulations and procedures.

In fact, as early as 2018, vipshop proposed to cooperate with Fubang financial holding to establish a consumer finance company. On September 19 of that year, Fubang financial holding, the parent group of Fubang Huayi bank, announced that it planned to participate in the establishment of a consumer finance company in the mainland with RMB 125 million, accounting for 25% of the shares. However, the application was temporarily stranded two years ago due to policy tightening, and now it has been re approved with the re opening of the license plate.

Vipshop was established in Guangzhou in August 2008, and its main business is online sales of brand discount products on the Internet. Since its launch, vipshops special sales business has grown rapidly in the wave of consumption upgrading, making vipshop the third largest e-commerce platform in China after Alibaba and JD. Four years after its establishment, vipshop was listed on the New York Stock Exchange in March 2012.

Vipshop, which landed in the capital market early, extended its tentacles to the Internet financial business in the year following its listing, and established its financial business department in 2013. In 2014, following the landing of Ali xiaodai and Jingdong xiaodai, vipshop announced in a high profile that it had entered the supply chain finance field, and its small loan license had been approved by the Guangdong provincial financial office; and then in September 2016, vipshop invested 400 million yuan to complete the project A wholly-owned acquisition of Zhejiang Beifu was granted a payment license; in February 2017, Guofu life insurance company, vipshops second largest shareholder, was also approved to prepare for construction.

In this time, the distribution of consumer loan, consumer insurance and consumer insurance will be realized.

Although there are many stocks of licenses, it is worth noting that vipshops financial services and revenue are not ideal. According to the annual report of 2019, vipshops annual revenue is 92.99 billion yuan, an increase of 10% over the same period of last year; the financial business is not only invisible, but also contains other income of only 300 million yuan, accounting for only 4.6% of the total revenue. By the end of 2019, the balance of customer consumer credit has dropped to 1.3 billion yuan, 80% lower than that of 5.7 billion yuan at the end of 2018.

At the same time, from the beginning of 2019, vipshops financial business layoffs are also rampant. Some media have reported that vipshop will lay off all its Beijing branches. In response, vipshop said that it was not the dissolution, but the organizational structure adjustment of the technical department. Financial products for the C end are also undergoing a comprehensive contraction. The interface news found that vipshop financial app is about to be discontinued, and its business will be transferred to the financial sub column of vipshop app. Meanwhile, the sub column only has credit card and loan services. The financial products such as vipshop and Weiduoli have disappeared. The approval of the consumer finance license was not easy, but it may be a little late for vipshop finance. Compared with the counterparts who will soon develop the blueprint of consumer finance business, this license is not very urgent for vipshop. However, as the competition in the consumer gold market intensifies and the gold content of the license plate becomes more prominent, can vipshop still rely on this license to keep up with the ranks of Internet Finance? Source: interface news editor: Yang Bin_ NF4368

At the same time, from the beginning of 2019, vipshops financial business layoffs are also rampant. Some media have reported that vipshop will lay off all its Beijing branches. In response, vipshop said that it was not the dissolution, but the organizational structure adjustment of the technical department.

Financial products for the C end are also undergoing a comprehensive contraction. The interface news found that vipshop financial app is about to be discontinued, and its business will be transferred to the financial sub column of vipshop app. Meanwhile, the sub column only has credit card and loan services. The financial products such as vipshop and Weiduoli have disappeared.

The approval of the consumer finance license was not easy, but it may be a little late for vipshop finance. Compared with the counterparts who will soon develop the blueprint of consumer finance business, this license is not very urgent for vipshop. However, as the competition in the consumer gold market intensifies and the gold content of the license plate becomes more prominent, can vipshop still rely on this license to keep up with the ranks of Internet Finance?