performance of Xinjinke since 217

whirlwind

Weixin Jinke, a listed company in Hong Kong that just tasted the sweetness of profit in p>219, will face huge losses again. Recently, WeChat Jinke issued a profit warning for the first half of 22. According to the preliminary assessment, Weixin Jinke expects a net loss of 89 million yuan to 1.9 billion yuan in the first half of 22, and an adjusted net loss of 85 million yuan to 1.5 billion yuan.

compared with the net profit of 6.2 million yuan and the adjusted net profit of 193 million yuan in the first half of 219, Weixin Jinke turned from profit to loss again. In this regard, Weixin Jinke explained in the announcement that the estimated loss in the first half of the year was mainly due to the adverse impact of the novel coronavirus epidemic on the Group's business and operation during the period, especially the increase in the fair value loss of the loan portfolio and the increase in the repayment default rate.

However, the loss in just half a year is as high as 1.9 billion yuan, which is unusual for financial technology companies in the field of personal consumer credit. As Xu Weidong, an associate professor at Hangzhou Dianzi University, said, "In the first half of this year, affected by the epidemic, many borrowers lost their income due to short-term unemployment. In fact, the rise in the non-performing rate of personal consumption loans is universal, mainly concentrated in the sub-prime loan population. Wei Jinke lost 1 billion yuan in the first half of this year, and it is a bit far-fetched to explain it with a simple epidemic deviation. "

in fact, this is not the first time that wechat jinke has lost 1 billion yuan in half a year. According to the financial report disclosed by WeChat Jinke, in the first half of 218, the operating income was 1.271 billion yuan and the net loss was 1.1 billion yuan. It was not until 219 that it turned losses into profits.

Wei said that in order to cope with the impact of the epidemic, the Group has responded, mainly focusing on loan collection, as part of the overall risk management strategy; At the same time, try to maintain healthy cash flow and operating cash balance during the period.

Yu Baicheng, president of Zero Research Institute, said that WeChat Jinke is a financial technology company mainly assisted by loans. It is expected to lose money in the first half of the year, and the business impact brought by the epidemic is the main factor. The sudden epidemic situation affects the economic operation, the repayment ability of borrowers decreases, and the overdue rate generally increases. In this context, platforms generally adopt a prudent management attitude, control the loan scale, increase credit risk provision and increase losses. At the same time, the adjustment of business model and the decline of interest expense level under the background of stricter supervision are also factors affecting performance.

inexplicable information authorization

Xinjinke was established in 26 and listed in Hong Kong in June 218. In terms of stock price performance, according to the statistics of Eastern Fortune Choice, as of July 9, the share price of WeChat Jinke was reported at HK$ 4.82, and the highest at the initial stage of listing was HK$ 22.65. Its share price fell by nearly 8%, with a total market value of only HK$ 2.43 billion, down HK$ 8.877 billion from the initial listing.

in terms of business operation, the products and services operated by wechat jinke mainly include "wechat card loan", consumer credit, risk control cloud service and capital cooperation. However, according to the company's previously disclosed financial report, more than 5% of its revenue comes from credit products, including credit card compensation product "WeChat Card Loan" and online consumer credit products "Doudou Money" and "WeChat Flash Loan".

however, credit products that were once regarded as the "cash cow" of wechat jinke have frequently caused controversy in recent years. Recently, the user complained about tying insurance, charging for no reason, and the defendant went to court.

On July 2nd, China Judgment Document Network published the first-instance civil judgment of other contract disputes between plaintiff Mao Moguang and defendant Wei Xin Jinke. According to reports, in February 219, the borrower Mao Moguang applied to WeChat Jinke for 6, yuan to repay the credit card debt of a joint-stock bank through "WeChat card loan". However, during the loan process, WeChat Jinke forced the user to check the "Borrower's Accidental Injury Insurance" that bought 699 yuan, otherwise the next operation could not be carried out. In this case, the borrower can only check and confirm and agree to the authorization. In the judgment of the first instance, the court pointed out that the defendant < P > lawyer further stated that if the personal information controller is entrusted by several cooperative organizations or enjoys the data, it should follow the standard requirements of data entrusted processing and data * * *, including the personal information controller's personal information security impact assessment on the entrusted behavior and the * * * enjoyment behavior, so as to ensure that the trustee meets certain data security requirements.

Xu Weidong also pointed out that in the process of credit application, whether it is legal to transmit information to a third-party company is mainly based on whether the transmission is a "necessary" behavior to complete credit granting and pricing (interest rate). In this case, WeChat Jinke transmits information to partners. This customer information sharing mechanism set in the product credit process is hardly considered as a "necessary" link in the credit process, and there is no lack of risk of revealing users' personal privacy.

what is the specific credit standard of "Doudou Money"? What are the main reasons for not granting credit after obtaining a large number of user core information? Why can't the diversion loan platform be registered, and it is a "book city" business? In response to this series of questions, Weshin Jinke did not give an answer.

Business problems to be solved

For Weixin Jinke, besides dealing with loss-making business problems, product compliance risks are also worthy of vigilance.

According to the Information Security Technology Personal Information Security Standard issued by China Internet Finance Association, institutions should strictly abide by the legal bottom line, carry out activities such as the collection, processing, use and external provision of personal information in accordance with laws and regulations, and must not mislead or force consumers to collect personal information by means of default authorization, profile authorization and function binding. Do not cooperate with third parties who illegally collect and use personal information, and do not abuse, illegally trade or disclose consumers' personal information.

a senior analyst in the mutual fund industry bluntly said that in terms of compliance risk, Wechat Jinke needs to review and control its partners, assess their ability to protect personal financial information, and take necessary measures to ensure that partners perform the above duties and obligations. At the same time, if multiple cash loans are misappropriated, we should pay attention to abide by relevant laws and measures, protect the applicant's right to know, respect the true wishes of financial consumers, and not handle business on behalf of financial consumers without authorization, nor modify the business instructions of financial consumers without authorization.

The person further stated that the biggest risk facing the credit industry at present is compliance risk. If the dimension

Xinjinke can make steady progress in compliance, it is expected that its operating performance will improve in the second half of the year.

This article comes from beijing business today's related question and answer: Is Doudou Money a credit card? Expand 3 All

Doudou Money for Credit Information? Doudou Money is a credit report. As long as you apply for a loan in Doudou Money, your records will be uploaded to your personal credit report. Of course, it is only uploaded. If you don't have overdue behavior, your credit will have no impact! Of course, once the overdue behavior occurs, it will be recorded and recorded in the personal credit report for five years. Relatively speaking, the consequences are quite serious! Therefore, everyone should borrow according to their own ability before borrowing, so as not to cause the pressure of repayment. After borrowing, we must remember the repayment time, and it is necessary to repay on time! The above is the sharing of whether Doudou money is on credit reporting for everyone. I hope I can help you!