Peter Lynch.
The signboard of "Oriental Fortune Network" is a household name among investors. It once created the sales myth of Internet funds with its unique and innovative business model. At present, after a series of mergers and acquisitions, Oriental Fortune has achieved all-round development.
The Internet financial service platform of Oriental Fortune has become the most visited and sticky Internet financial service platform in China. Is there any innovation in the current business model of Oriental Fortune? Is the current valuation reasonable? Will it continue to lead industry innovation and create new business value in the future?
Historical evolution:
Three steps of "financial portal, fund sales and securities industry":
Up to now, the company has become an Internet service platform with "Oriental Fortune Network" as the core, integrating Internet financial portal platform, financial e-commerce platform, financial terminal platform and mobile platform. The Internet service platform with "Oriental Fortune Network" as the core operated by the company has become one of the Internet service platforms with the largest number of users and the highest user stickiness in China. Oriental Fortune Network, Tian Tian Fund Network and Stock Bar have long maintained their competitive advantages in terms of the number of users and user stickiness, and are in a leading position in the market, forming the core competitiveness of the company.
In the past five years, the compound growth rate of the company's revenue reached 47.2 1%, and the net interest rate in 20 19 was 43.28%.
After the acquisition of Tibet Tongxin Securities, the company's performance rose sharply. 20 15 revenue increased nearly four times compared with the same period of last year, and net profit increased nearly 10 times. In 20 16, it declined due to the cooling of the market. Since then, the performance has achieved steady growth, and the growth rate has increased year by year. From 20 14 to 20 19, the compound growth rates of the company's revenue and net profit attributable to the mother were 47.2 1% and 6 1.69% respectively. According to the disclosure in the third quarterly report of 2020, the company achieved revenue of 5.946 billion yuan in the first three quarters, up by 92.00% year-on-year, and net profit attributable to the mother was 3.398 billion yuan, up by 65,438+043.66% year-on-year, both exceeding the annual data of 2065,438+09. The increase in performance was mainly due to the substantial increase in revenue from financial e-commerce business and securities business.
The proportion of securities and fund consignment business is divided into 62% and 34%, and the proportion is rising steadily.
The company's main business includes securities business, financial e-commerce service business, financial data service business and Internet advertising service business. Securities business: mainly relying on Internet service platforms and branches in major domestic central cities, we provide securities and futures brokerage services to a large number of users through companies with relevant business licenses such as Oriental fortune securities, Oriental Fortune Futures and Cai Dong International Securities.
Financial e-commerce service business: mainly through Tian Tian Fund, providing users with third-party fund sales services. Relying on the massive user resources and good brand image accumulated by the Internet service platform with "Oriental Fortune Network" as the core, Tian Tian Fund provides users with one-stop Internet self-help fund trading service through the financial e-commerce platform.
Financial data service business: mainly based on the financial data terminal service platform, providing professional financial data services to a large number of users through PC and mobile platforms. Internet advertising service: mainly through text chains, pictures, rich media and other means, providing internet advertising services to customers on the pages of "Oriental Fortune Network", professional channels and interactive communities.
At present, the company's institutional business is relatively weak, such as issuing bonds, underwriting and financing for enterprises, which is a big shortcoming. In the future, under the policy environment of registration system, plus policies such as clear management, financial market service entities and expanding direct financing, the proportion and importance of institutional business in securities companies will become greater and greater, and the competition will become more and more fierce. This huge market needs to be explored hard for today's oriental wealth, but because of its low starting point, there is a lot of room for imagination.
Generally speaking, Oriental Fortune is a distinctive company and a leading company in the Internet finance industry. As an internet finance company, the company has outstanding advantages in platform traffic and high flexibility in the growth of securities and funds. The company's wealth ecosystem is becoming more and more perfect, and the financial services are diversified. A number of core data are obviously superior to peers, and they are optimistic about the company's wealth transformation prospects and various business expansion.