P2P finance frequent withdrawals at the end of difficult run contagion
Toast with frequent P2P industry are difficult. December 11 is affected cash crisis, Guangdong, was founded less than a year, SINA weibo wealth also were explosions since growth suffered its worst crisis: a “meeting online” events, investor collection, this storm will also replay P2P companies run into the spotlight.
Events originated in mid-December, bills finance platform in Shenzhen meeting online has reported unable to withdrawal, over 3,000 investors in more than 260 million yuan of principal and interest back. SINA weibo huiying Fortune two wealth management products “huiying Bao” and “PP cat foreign loan”, “stepping on mine”.
SINA weibo wealth overall scale of these products reached 50 million, involving thousands of people. Although Sina weibo wealth for the first time issued a statement, saying it has made contact with the police in the first, and the Sina micro-wealth investors to Shenzhen local investigative brigade police.
SINA also stressed that all our operations is working properly. Expired products were normal payment, and new product releases are not affected. This thing is still not subsided, and that many investors are still Sina micro-gate of Fortune company debt.
Because the two products have not expired, SINA weibo wealth with investors tensions eased. However, SINA weibo wealth has yet to release the ultimate solution to the incident, but both products expire at the end of, remains a possibility for future tense.
SINA weibo wealth into disputes over P2P, is a microcosm of the P2P industry in the near future. Along with the new year coming, P2P industry to honour high pressure, fled turmoil may spread throughout P2P finance. According to incomplete statistics, December issue has already reached 47.
SINA weibo wealth cry foul
In August this year, SINA online launch huiying Zhong Hui wealth and treasure bills financing product, annualized yields of 8%, the first release of 2.8 million Yuan. In November, the Exchange online micro-fortune on the line again in another product, “PP cats trade credits” (export credit).
After the incident, SINA weibo shouted wronged wealth. One insider said meeting online provide a SINA weibo wealth before the material is complete, did not find any problems, SINA weibo wealth can’t verify, the result was an innocent “stepping on mine”.
These people say, SINA weibo, wealth is in hindsight, through instruments hosting Bank learned that meeting online private appropriation “huiying treasure” managed the bank acceptance bills of Exchange. SINA weibo wealth will actively cooperate with investors currently reported to work.
According to the normal logic, P2P platform after receiving bank acceptance bills of Exchange and other negotiable instruments pledge, issued loans to investors to raise money, financing the financiers, with discounted funds repayment. Meeting online in normal operation, does not burst unable to withdrawal problems.
NET loan House CEO Xu Hongwei said Tencent technology, notes to Exchange online lenders and borrowers, remit money online to lenders, transaction is completed. Current problem is that meeting online bill discount and money from the Bank, used to thaw for personal use.
Kim Dong-founding partner Ji Shaofeng said micro-credit companies in Jiangsu, just fancy meeting online investors returns as high as 18%, the doomed this is extreme amateur’s trick. Ji Shaofeng had engaged in financial supervision at the Central Bank, the Banking Regulatory Commission for 16 years.
Ji Shaofeng’s argument is that general banking issuing bank to accept base annual 4%-6% the discount interest rate fluctuations, located in the one-year fixed deposit interest rates and the benchmark one-year lending interest rate, may even be below the yield on bank capital preservation products.
Meeting online in 2014 to the investor gains mostly in the year of 18%, over the Bank’s discount rate of approximately in the year around Cadbury targeting civil company micro-ticket discount rate at around 5%-8%, 18% yields do not exist.
Platform company reverse loans-for-traffic cannot take such a large loss. Holding the real Bill business, discounted and liquidated the channel a lot, cost far less than this, its impossible to use it as collateral for high-interest borrowing from the platform.
“The only explanation is that there does not exist the so-called collateral of bank acceptance bills, investors ‘ money had been diverted elsewhere. “Ji Shaofeng said that as long as some Bank to accept people with common sense should know this business model would not exist.
In January 2014, Internet investor also noted that acceptance of cash needed to pay six months interest (discount) affixed to the ticket fee will be 3.5%, “no client will be crazy to have acceptance in hand go monthly pledge to take the three points above.”
These people say, is also dominated by Bill business, silver cat, accepting pledge products annualized returns in 6.8%-8%, coupled with banks and civil post tickets discount rates, could obviously see the profit margin of this business model is indeed very small.
In fact, Bill financing is the core of authenticity and presence of the Bill itself. Mortgage bills are real even if financing fails, notes credit covers some of the risks, investors are expected to take back the money.
For investors, it is difficult to distinguish with the naked eye, even some small banks unable to resolve ticket validation and retention problems. In this case, the platform easier to use false information to deceive investors, also led Sina weibo wealth greatly involved at this time.
Meeting online go weak in Sina weibo wealth dilemma
Meeting online has reported unable to withdrawal after the incident, its website remains open normally, and from December 13 till 21st, Exchange online users now has issued statement on the difficulties, and the biggest difference is that before, this platform has suspended publication of the new standard.
Zhong Hui raised questions about platform control people fled amid meeting online or posted in company legal representative Chen Yanfang released a letter, apologized in a letter posted photos of Chen Yanfang holding a letter and claim to be run, collection loans receivable of enterprises.
In this regard, the net loan House CEO Xu Hongwei Outlook is bearish to Exchange online. Xu Hongwei Tencent technology admits that, once a platform similar to the Exchange online encounters show storm, even if the legal representative does not run, will remain impotent.
Exchange online P2P companies broke out recently in the encounter is just the latest example. Ningbo lianchuang wealth platform collapse in the near future, there are more than more than 800 investors, “stepped on mines”, involving more than 50 million Yuan, its boss Ge Gaofeng 20 in Wuhan was captured this month.
According to net loan data show that November 2014 platform that up to 39, the data is December “easily broken” as of December 18, 2014, the December issue platform reached 47, these platforms to collect the principal and interest of over 1 billion yuan.
More P2P industry veterans to Tencent technology said on December 23 has only 12 P2P companies have problems, by 2015 before new year’s day at least 20 P2P companies likely to develop payment problems.
Why the problems of P2P companies? First, P2P industry varies greatly, many will be phased out. More important is that the economic downturn has lasted for a period of time at the end of the tightening of bank credit, increased demand for funds, payment pressure we had to face.
Or to Exchange online, for example, and all loans, using different letters and other large-scale P2P, meeting online and offline is not a unified operation. Which online business is located in Shenzhen, is responsible only for platforms, line part is located in Foshan.
Statistics show that online shareholders are Shenzhen huiying Zhong Hui, is responsible only for online business, offline from home called “JI investments in” business on behalf of the partners is responsible for the operation, and included in the scope of JI investments in real estate development.
Meeting online has been called into question in place is also due to offline business to other operations, equivalent to lifeblood platforms lies in the hands of others, once a problem, blame yourself back amid speculation that Chen Yanfang JI investment and persons meeting online in a secret relationship.
If not involving Sina weibo wealth, Exchange online issues of an outbreak as well as other weed is not P2P may be submerged. However, SINA Sina wealth endorsements, cover more P2P players early, the storm was apparently not easily in the past.
One investor said that meeting online in cooperation with Sina weibo wealth launched “huiying treasure”, annualized yield of just 8%, “to invest in micro-wealth is not against higher-yielding, but safe in the first place, out of Sina trust, didn’t think so. ”
These people say, let everyone is angry, zhonghui online events broke out, SINA weibo wealth overnight change logo: SINA online launched into sinks in sinks in the wealth and launched online, SINA weibo wealth in an attempt to bypass the responsibility.
Facing heavy pressure from the outside world, SINA weibo wealth are deeply stressed, in its announcement: “as a platform for launch less than a year, micro-wealth young and immature in some ways, in support of the shareholder of Sina given proper solutions. ”
Appropriate letter early this year was involved in a 300 million Yuan uncompleted bad storms, spread its founder Stewart run, finally advised to select fallback. Involvement of loans in the second half to help tens of millions of bad loans crisis loan help Yin Fei, founder choose the no fallback. SINA weibo, whether wealth is the fallback?
A P2P industry pointed out, this will be a huge challenge for SINA weibo wealth, fallback will face huge financial losses and no fallback will suffer loss of credibility, from an objective point of view, SINA weibo wealth should negotiate a solution, not exactly fallback.
Above have pointed out, the majority of P2P investors, online event sink is a profound lesson, namely financial risk, investments need to be cautious. “This revelation was that members from seeking unrealistically high returns, where money is at stake. ”