Ant suspended listing, just now, this financing project passed!

category:Finance
 Ant suspended listing, just now, this financing project passed!


In addition, the plan to issue CITIC Securities Huabei 1-10 credit payment asset support special plan with the same scale of 10 billion yuan was approved on November 20. The original beneficiary is Chongqing ant small and micro loan Co., Ltd. and the acceptance time is November 3.

Both of them are ABS. ABS financing mode is a securitization financing mode supported by the assets of the project, that is, based on the assets owned by the project, guaranteed by the expected income of the project assets, and by issuing bonds in the capital market to raise funds.

Another 26 billion are in the pipeline

In addition to the above-mentioned ABS projects, three ABS projects with a total of 26 billion yuan have been accepted by the Shanghai Stock Exchange

Tianhong innovation Huabei phase 8-15 consumer credit financing asset support special plan, the proposed issuance scale is 8 billion yuan; the acceptance time is October 29.

CITIC Securities Loan Asset support special plan for phase 5-14 consumer loans is planned to issue 10 billion yuan. The acceptance date is November 20.

For ants Huabei and jiebei businesses

500 million users

Data shows that the above two companies are currently ant group, which has two companies operating credit business in the country, Chongqing ant Shangcheng small loan Co., Ltd. (lending business is borrowing); Chongqing ant small micro loan Co., Ltd. (lending business is Huabei).

Both are wholly owned subsidiaries of ant group.

According to ants prospectus at that time, the companys Huabei and jiebei products have become widely used consumer credit products by Chinese residents. During the 12 months ending June 30, 2020, about 500 million users have obtained consumer credit through the companys micro loan technology platform.

In addition, the data shows that by the middle of 2020, the registered capital of Chongqing ant Shangcheng small loan was 4 billion yuan, the total assets was 215 million yuan, and the net profit in the first half of the year was 6.2183 million yuan.

By the end of June 2020, the registered capital of Chongqing ant small and micro loans was 12 billion yuan, the total assets was 240 million yuan, and the net profit in the first half of the year was 4.3358 million yuan.

On the whole, the loan business contributed 39% to the income of ants, and the technical service fee generated by borrowing has become the largest income source of ants.

On November 3, ants were put off the market

On the evening of November 3, the Shanghai Stock Exchange issued a decision to suspend the listing of ant Technology Group Co., Ltd. on the science and technology innovation board. According to the Shanghai Stock Exchange, recently, the actual controller, chairman and general manager of ant group were jointly supervised and interviewed by relevant departments, and ant group also reported major events such as changes in its financial technology regulatory environment. This major event may cause ant group to fail to meet the listing conditions or information disclosure requirements.

According to the analysis of financial experts, the management method of network small loan will have an all-round impact on ant groups business.

First of all, it seems that the trans provincial operation of ant group needs administrative approval. According to Article 5 of the measures, ant group shall apply to the CBRC for administrative permission for Huabei and jiebei to operate business nationwide, which shall be incorporated into the regulatory framework of the CIRC.

In terms of operating leverage, ant group needs to significantly increase the scale of on balance sheet loans. Article 15 of the measures stipulates that in a single joint loan, the contribution proportion of small loan companies operating network small loan business shall not be less than 30%. Based on the current scale of 1.8 trillion yuan of joint loans, ant groups corresponding balance sheet loan balance is at least 540 billion yuan, far higher than the current balance sheet loan balance of 36.2 billion yuan. According to the principle of maximum 5 times leverage of on balance sheet loans determined in the notice on strengthening the supervision and management of small loan companies, the capital of ant groups small loan companies needs to be expanded to 140 billion yuan, which is much higher than the total registered capital of Huabei and jiebei companies, which means that if the current business scale is maintained, the capital of the small loan company should be expanded to 140 billion yuan The principal needs to be increased by more than 100 billion yuan. It is worth noting that, according to the measures, the small loan companies of ant group must fully meet the requirements of the Interim Measures for the management of network small loan business within one year after the implementation of the measures; and obtain the trans provincial business qualification within three years after the implementation; before obtaining the trans provincial operation quality, the small loan scale must be controlled within the scope of stock, and be gradually reduced and cleared. However, after the suspension of the listing of ant group, the China Banking and Insurance Regulatory Commission has said that it has not guided the banks to suspend the joint loan business with ant group. Source: Yang Qian, editor in charge of China fund daily_ NF4425

In terms of operating leverage, ant group needs to significantly increase the scale of on balance sheet loans. Article 15 of the measures stipulates that in a single joint loan, the contribution proportion of small loan companies operating network small loan business shall not be less than 30%. Based on the current scale of 1.8 trillion yuan of joint loans, ant groups corresponding balance sheet loan balance is at least 540 billion yuan, far higher than the current balance sheet loan balance of 36.2 billion yuan. According to the principle of maximum 5 times leverage of on balance sheet loans determined in the notice on strengthening the supervision and management of small loan companies, the capital of ant groups small loan companies needs to be expanded to 140 billion yuan, which is much higher than the total registered capital of Huabei and jiebei companies, which means that if the current business scale is maintained, the capital of the small loan company should be expanded to 140 billion yuan The principal needs to be increased by more than 100 billion yuan.

However, after the suspension of the listing of ant group, the China Banking and Insurance Regulatory Commission has said that it has not guided the banks to suspend the joint loan business with ant group.