On May 15th, Beijing time, in 219, * * * the first IPO of the same fund, Jiayin Jinke (Nasdaq: JFIN), rose by 54% on the first two trading days. On the morning of May 1th, local time in the United States, Shanghai Jiayin Financial Technology Co., Ltd. (hereinafter referred to as "Jiayin Jinke") was listed on the American stock market.

the parent company changed from the New Third Board to the US stock market.

My loan is its "cash cow"

During the three trading days of listing in the US stock market, Jiayin Jinke's performance showed a "V" trend. Wind data shows that as of 1 am on May 14th, Beijing time (May 13th, US Eastern Time), Jiayin Jinke's share price fell by 9.29%, ranking first in the decline list of mutual gold stocks at that time. Its share price is $14.65, and its total market value is $784 million, which is about $7 million less than the first trading day. At the same time, the second and third places in the decline list of mutual gold stocks were pat on the loan and point cattle finance, which fell by 7.74% and 6.69% respectively.

As of May 14th, 1:45: 2 EST (May 15th, Beijing time), in the second half of the trading day, the market revised Jiayin Jinke, and its share rose by USD 15.39, or 1.52%.

In fact, Jiayin Jinke is a company that has just moved from China New Third Board to the other side of the ocean. The national share transfer system announced on April 19, 218 that according to the application submitted by Jiayin Jinke, the share transfer system decided to terminate the listing of its shares from April 23, 218.

Previously, on February 16th, 216, the original "Fu Jen Technology" announced that the short name of the company's securities was officially changed to "Jiayin Jinke". As a result, Jiayin Jinke achieved the goal of curve listing through the backdoor of the New Third Board.

Your online loan business has always been Jiayin Jinke's main business and its current "cash cow". Official website shows that its industrial and commercial registration entity is Shanghai Wodai Internet Financial Information Service Co., Ltd., and its actual controller and legal representative is Yan Dinggui, with a registered capital of 55 million yuan (paid-in 1 million yuan). The online operation time of your loan platform is June 18th, 211. As of April 3 this year, the balance of platform loans was 15.92 billion yuan, with 184,7 current borrowers and 2,974,9 current borrowers. At present, there are three loan products on the platform, namely second loan, Jiaka loan and Jiaying loan, with a term of 12 months.

According to the prospectus, Jiayin Jinke achieved an operating income of 2.882 billion yuan in 218, a year-on-year increase of 28% and a net profit of 613 million yuan. According to the audit report of Youwo Loan official website in 218, the net profit of Youwo Loan Platform in 218 was 36 million yuan, that is, nearly 6% of Jiayin Jinke's net profit came from the contribution of Youwo Loan. The proportion will be higher in 217. In 217, Jiayin Jinke achieved an operating income of 2.251 billion yuan and a net profit of 53 million yuan. In that year, the net profit of your loan was 459 million yuan, and the contribution rate of your loan to the net profit of the parent company reached nearly 9%.

the overdue rate of your loan project is higher than the "hard standard" of 1% in the regulatory documents.

On January 21st this year, the Opinions on Doing a Good Job in Classified Disposal and Risk Prevention of Online Lending Institutions (namely "Document No.175") described the "high-risk institutions" of online lending. 3354 All P2P online lending institutions with one of the five characteristics, such as overdue projects exceeding 1%, are classified as high-risk institutions.

according to the definition in peer-to-peer lending of Internet Financial Information Disclosure reviewed and approved by China Internet Finance Association in 217, the overdue rate (%) refers to the ratio of overdue amount to unpaid amount as of the statistical date; The overdue rate of projects (%) refers to the ratio of the current number of overdue projects to the total number of unsettled transactions as of the statistical point.

according to the statistical data when Circular No.175 was published, as of December 218, the overdue rate of your loan project disclosed by China Internet Finance Association was 15.18%, the overdue rate was 1.96%, and the overdue amount was 338 million yuan. After nearly half a year, the overdue rate and overdue amount of projects before you and I borrowed IPO decreased, but the overdue rate increased. By April 3, 219, the overdue rate of the project was 14.77%, the overdue rate of the amount was 2.4%, and the overdue amount was 324 million yuan.

from the loan balance, according to the prospectus, as of December 31, 218, the overdue rate of Jiayin Jinke Platform (M3) for more than 9 days was 14.91%; In the same period of 217, the overdue rate of more than 9 days was 12.21%.

Before the listing of the New Third Board was terminated, on March 17, 218, Jiayin Jinke disclosed in its reply to the inquiry letter of the share transfer system that as of December 31, 217, the overdue rate of the total unsecured products related to your loan was 1.62%; The overdue rate of the total amount of related mortgage products is 5.5% (since March 3, 217, you and I will no longer provide mortgage products).

Your loan product has "appeared" on the diversion platform without the actual operator.

the daily interest rate changes as soon as it is said.

In addition, according to the Audit Report of You Lend My Mine in 218 issued by Daxin Certified Public Accountants, Beijing Rongqiniu Information Technology Co., Ltd. ranks first in the amount of prepayment. According to public information, Jianpu Technology is a loan supermarket Rong 36 of a company listed on the New York Stock Exchange, which is operated by Beijing Rongqiniu Information Technology Co., Ltd. and its affiliated entities. In 218, the payment amount of this mobile financial intelligent product selection diversion platform under Rong 36 from your loan to my loan accounted for 19.22% of the total advance amount.

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according to the prospectus, the APR (annualized interest rate) of a large number of loans on Jiayin jinke platform previously exceeded 36%. In 217, the loan APR of 11.6 billion yuan exceeded 36%. As of December 31, 218, the outstanding loan principal of Jiayin Jinke Platform with an annual interest rate of more than 36% is still 1, yuan.

in December p>217, Jiayin jinke adjusted the pricing of all loan products to ensure that the annual interest rate of all new loans does not exceed 36%. At present, Jiayin Jinke believes that the annual interest rate of the loan products it provides does not exceed 36%.

The real controller of Jiajinke holds nearly 8% of the shares.

According to the analysis, the "shareholding structure of the company" may have room for change.

According to the prospectus, Yan Dinggui, the actual controller, founder and CEO of Jiayin Jinke, directly held 58% of the shares before listing. After IPO, Yan Dinggui holds 54.2% of the shares and has 92.2% of the voting rights. The main shareholders of Jiajinke also include Dre, holding 25.2%.

amglory L.P., a limited partnership company in the British Virgin Islands, was established to hold the shares of the company awarded in Jiayin Jinke's future equity incentive plan, which is wholly controlled by Yan Dinggui. That is, Yan Dinggui holds 79.4% of the shares of listed companies directly or indirectly.

after the p>IPO, Zhang guanglin, director and executive vice president of Jiayin jinke, held 11.2% of the shares through Sunshinewoods Holdings Limited. This means that Jiayin Jinke's real shares in the market are less than 1%.

according to the investment director, "if the management or founder of a listed company holds more than 7% of the shares, it means that there may be room for change in the company's shareholding structure. Usually, even if the management is absolutely controlling, it should not exceed 7% of the shares as far as possible. Moreover, it is best for some international investment institutions, such as pension funds, insurance funds or some sovereign funds, to join the ranks of shareholders of listed companies, which is very helpful for the long-term stability of the overall stock price. In addition, in the long run, investors in the secondary market will also prefer the investment of such companies. " Related Q&A: What are the consequences of overdue repayment?

The direct consequence is overdue fees. Secondly, you and people around you will be bombarded by phone messages and your credit will be affected.

any consumer advertisement

the emergency channel will arrive quickly!

The consequences of your overdue loan are as follows:

First, you are subject to telephone collection, overdue fees and crazy short message collection, which is really standard for small loans, and you and I are no exception. As long as you fail to repay your overdue loan, you will be collected, and everything depends on the strength of collection.

second, the upload is overdue. At present, your loan has not been connected to the central bank's credit information system, so your loan is not available for credit information. However, sesame credit will be affected and even uploaded to the online blacklist.

third, pay the overdue fine. If you fail to pay back the overdue loan, the first thing is the overdue fee. At present, the official has not specified the overdue fee for your loan, but it should not be a small sum.