Written | District Mayor
Source | Beduo Finance
Introduction: The financial dream of two, three, four and five is almost tantamount to shattering, leaving a mess.
On August 17, two three four five (SZ: 002195) released the first half of 2020 financial report. In the first half of 2020, the two-three-fourth five-year revenue reached 650 million yuan, a year-on-year decrease of 63.76%; the net profit attributable to shareholders of listed companies was 209 million yuan, a year-on-year decrease of 67.59%.
Regarding the decline in performance, 2345 said that it was mainly affected by the company's adjustments to the financial technology service business in 2019 and the new crown epidemic in the first half of 2020. Prior to this, the main business of 2345 was Internet information services, and then began to increase financial business.
According to data, in the first half of 2020, the financial technology service business of the two three four five-year period achieved revenue of 105 million yuan, a year-on-year decrease of 83.25%, and the proportion of total revenue fell to 16.06%. In 2017, its financial technology service revenue accounted for 65.43%.
According to public information, 2345 launched the cash loan product "2345 Loan King" in 2014, which is engaged in the small loan business. In 2016, 2345 launched the "2345 Auto Loan King" and "2345 Commercial Loan King", and established the Auto Finance Division and Consumer Finance Division.
The previous 2017 financial report released by 234F shows that during the reporting period, the operating income of the 234F financial technology subsidiary's consolidated statement was 1.99 billion yuan, an increase of 866.22% over the same period in 2016; attributable to the owner of the parent company The net profit of 410 million yuan, an increase of 271.67% over the same period in 2016.
Subsequently, the positioning of the two, three, four and five is changed to mainly provide Internet information services and Internet financial services. The person in charge of the 2345 Financial Technology Company stated that the 2345 Loan King is the group's strategic goal in 2016, and the Internet consumer finance business represented by the 2345 Loan King has shown a blowout development, becoming the biggest highlight of the group's performance.
Chen Yubing’s financial dream of two, three, four, five was shattered: the performance of the first half of the year was cut in half, and the financialization was "naked swimming"
In 2017 and 2018, this situation has changed. According to the 2017 financial report of 2345, its Internet finance business revenue was 2.093 billion yuan, accounting for 65.42% of operating revenue. At the same time, the 2345 Loan King business under 2345 has made a provision for bad debts of 269 million yuan.
In 2018, the Internet financial services business in the second, third, fourth, and fifth year achieved revenue of 180 million yuan, a decrease of 14.38% from 2017. In this regard, 234 said that the decrease in revenue was mainly due to the company’s "sound development strategy", which reduced the scale of its personal consumer finance business.
As an adjustment, two, three, four and five will shift to areas with consumer scenes such as auto finance. As of the end of 2018, the 2345 car loan platform has covered more than 200 prefecture-level cities and provided car loan and car consulting services to 30,000 customers.
It is understood that in the field of financial technology, two three four five have formed three directions of automobile consumer finance, personal consumer finance, and commercial finance, and they hold Internet small loans, financial leasing, factoring, and financing guarantee licenses. At the same time, 2345 also stated that it is actively applying for financial licenses such as consumer finance and insurance brokerage.
The good times will not last long. In the middle of 2019, 2345 will make a clear transition in its financial report for the first half of 2019-providing other financial institutions or enterprises with system construction, risk control output, service output, capital cooperation, etc. In November 2019, some media reported that the auto finance division had been disbanded on February 3, 4, 5, and the news was confirmed.
Prior to this, Shanghai 2345 Financial Technology Co., Ltd., a subsidiary of 2345, had completed its definancialization renaming. In August 2019, the company changed its name to Shanghai Hongsheng Intelligent Technology Co., Ltd. (hereinafter referred to as "Hongsheng Intelligent"), and adjusted its business scope to technology-based technical services.
In the 2019 financial report, Internet financial services were deleted from the main business of 2345, and Internet information services were retained. In 2019, the two-three-fourth five-year plan achieved operating income of 2.441 billion yuan, a year-on-year decrease of 35.33%; the net profit in 2019 was 759 million yuan, a year-on-year decrease of 44.48%.
Two, three, four and five means that it was mainly due to the adjustment of the company's business during the reporting period, including adjustments to the financial technology business. However, in 2019, its financial technology service revenue still accounted for 42.07% of its total revenue, reaching 1.027 billion yuan.
Regarding the performance in the first half of 2020, the 2345 board stated that the company adjusted its financial technology service business in 2019 and stopped providing new consumer financial services for individual customers in the second quarter of 2019. Therefore, in 2020 The performance in the first half of the year has dropped significantly compared to the same period in 2019.
At the same time, 2345 disclosed that it co-sponsored the establishment of Jiangsu Suyin KGI Consumer Finance (raised) with Bank of Jiangsu, KGI Commercial Bank and Hailan Home, with a proposed registered capital of 600 million yuan, and 54 million will be invested in 2345. Yuan, accounting for 9%. According to 2345, the matter is still under examination and approval by the China Banking Regulatory Commission and other relevant agencies.
This also means that two, three, four and five did not completely give up financial business. As a major shareholding company that affects more than 10% of its net profit, Guangzhou 2345 Internet Microfinance Co., Ltd., a subsidiary of 2345, achieved operating income of approximately 24 million yuan and net profit of approximately 21.21 million yuan in the first half of 2020.
In terms of equity, Zhefu Holding Group is the largest shareholder of 2345, holding 7.38%; 2345 co-founder Han Meng holds 6.87%, Han Meng’s mother Zhang Shuxia holds 2.8%, 2345 Chairman Chen Yubing holds 2.04% of the shares, and the remaining shareholders hold less than 2%.
It is worth mentioning that Chen Yubing's experience is very interesting. He once served as the general manager of Guotai Junan Investment Department in Guotai Junan. According to information, Chen Yubing joined 2345 (formerly Hilong Software) in November 2014 as the investment director. In February 2015, Chen Yubing took over as chairman.
In March 2015, Shanghai 2345 Hilong Financial Information Service Co., Ltd. (Hilong Financial Services) was established on 2345 and began the transformation to Internet finance. In May 2016, Chen Yubing became the chairman and general manager of Hilong Financial. In September of the same year, Hilong Financial was renamed Shanghai 2345 Financial Technology Co., Ltd.
Then everyone knows the story.