Text | Xiaoya
Ctrip is the largest online travel agency platform in China, with both user traffic and consumption scenarios. Cross-border finance is also considered a natural layout. Up to now, Ctrip Finance has opened consumer finance, industrial finance, credit card, credit investigation, payment and other businesses, and is still exploring financial-related scenarios. But what many people don't realize is that Ctrip's cross-border entry into the financial industry has many advantages, but the potential risks are not small.
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Ctrip's "Financial Dream"
In order to seek more profit points, Ctrip has been broadening the ecological circle, and new financial business is one of the main directions.
In view of frequent accidents in travel, online sales insurance is the first step for OTA platform represented by Ctrip to enter the financial field.
As early as 20 1 1, Ctrip established an insurance agency;
In 20 13, Ctrip invested 50 million yuan to participate in the establishment of Zhongan Online;
At the beginning of 20 16, Ctrip joined hands to build an insurance strategy platform;
2065438+July 2006, the two sides jointly invested several hundred million yuan to set up an insurance brokerage company-"Beijing 11 Bay Technology Co., Ltd.".
With the trend of "narrow traffic out of princes" on OTA platform becoming more and more obvious, the cooperation mode of insurance companies providing products and traffic on OTA platform began to collapse.
For insurance companies, the unit price of policies brought by the Internet platform is low and the business volume is huge. A series of follow-up work, such as surrender, claim settlement and user return visit, all need insurance companies to complete, which is difficult for traditional insurance companies to digest.
What's more, the insurance company gets a low share. A repeatedly mentioned example is that 90% of the price of an aviation insurance product belongs to OTA, and only 10% belongs to the insurance company. Therefore, for insurance companies, this business is becoming more and more difficult to do, and after tasting the sweetness of financial business, OTA platform is not satisfied with only one sales channel, but extends to the upstream of the industrial chain.
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In 20 13, Ctrip established the financial department.
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In 20 14, two prepaid card wealth management products, Cheng Zengbao and Ctrip, were launched.
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2065438+In September 2005, Shanghai Ctrip Microfinance Co., Ltd. was established with a registered capital of 800 million yuan.
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On 20 16 65438+ 10/8, Ctrip announced the establishment of Ctrip's financial services business segment, and jointly launched the "Ctrip Travel Points Award" platform with MasterCard. It is reported that "Ctrip 10000 points reward" is the exclusive overseas shopping consumption reward platform for MasterCard cardholders in Chinese mainland through Ctrip Jin Fu.
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2016110/0 In October, Ctrip established Shanghai Shang Cheng Consumer Finance Co., Ltd. together with Bank of Shanghai, Shenzhen Andeyu Yixin Investment Co., Ltd. and Wuxi Changying Technology Co., Ltd.
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On 20 17, 10, Ctrip set up the Industrial Finance Department to lock in the first batch of small and medium-sized hotel chain customers, provide them with a loan amount of 300,000 to/kloc-0,000 yuan, and intelligently price financial services according to the term and credit rating.
From consumer finance to industrial chain finance, from C-end to B-end, Ctrip's financial map is getting bigger and bigger.
In May this year, Shenzhen Stock Exchange approved Ctrip Finance's application to issue 3 billion storage ABS, and the first issue was issued in June. According to public information, the basic asset of ABS is the tourism staging product "flower picking" on its platform. It is reported that after the opening of "Take Flowers", users can enjoy interest-free or flexible installment service for up to 40 days in Phase 3, Phase 6, Phase 9 and Phase 12 by using the credit line.
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Left hand carrot, right hand sledgehammer
On July 18, Ctrip released the first industrial financial product "Qiyizhuang".
It is reported that "Qiyizhuang" is going to carry out two types of business: large decoration loans and small working capital loans. The maximum amount of large-scale renovation loans is 6,543,800,000 yuan, and the loan period is 654.38+0 to 3 years. The funds are mainly used for hotel renovation, new hotel renovation and hotel upgrade. The maximum amount of small working capital loan is 6,543,800 yuan, and the longest loan period is 2 years. These funds are used for prepaid rent, equipment upgrading, expansion and partial renovation.
In the cooperation mode, the hotel applies for a loan from Ctrip, and Ctrip will price the risk according to the data on its ow.
Ctrip said that the hotel is one of the most important partners in Ctrip's business system, and this online work is dedicated to solving the financing problems caused by the renovation of small and medium-sized hotels.
"Due to the hotel's own industry and operating characteristics, although banks and other major financial institutions have a strong desire to solve the financing difficulties of small and medium-sized hotels, they have been suffering from the lack of effective risk control measures to control their financing risks, so the financing needs in this area are still difficult to meet."
According to a Ctrip executive, Ctrip has been deeply involved in the hotel industry for 19 years, serving more than 1 10,000 domestic hotels, and accurately controlling the risks of hotel financing business, which just complements the advantages of financial institutions and reduces the risk coefficient to a lower level.
However, in the eyes of some people in the industry, picking up clothes is not a cost-effective thing.
"For hotels with better management, if there is relevant demand, as long as the loan interest rate is reasonable, they will naturally choose, which is the icing on the cake; But for most hotels with bad business, if they really get loans, even if the loan interest rate is lower, it will still add insult to injury to the already difficult business, and it is not a timely rescue. Many hotels do not make money. Compared with funds, they need accommodation products with better return on investment and stronger management support. "
"Ctrip will be divided into three levels when cooperating with hotel suppliers, namely, distinctive brands, gold medals and silver medals. Among these three levels of cooperation, the highest dimension is special brand cooperation. If a hotel wants to become a characteristic brand hotel of Ctrip, it must meet two conditions. One is to pay a high enough commission 15%c, and the other is the exclusive cooperation of the whole network, which is the so-called exclusive agreement. In addition to these two conditions, there is another important factor: your order volume in the last month, that is, how much money Ctrip can earn from this hotel in the near future, is an important factor in obtaining traffic. "
Ctrip executives reacted calmly to the high commission level.
"Ctrip is very hard to do traffic. You have to buy traffic from Baidu to issue a card at the airport. Ctrip has more than 30,000 employees to support, and it will lose money if it is not careful. We hope to maintain this level of commission and believe that the hotel can treat this issue rationally. "
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Overlord and trust crisis
"All the evils that Internet companies can see are in this enterprise." On the Internet, such comments are not uncommon. After becoming the industry hegemon, Ctrip faces an unprecedented crisis of trust.
20 17 10, actor Cecilia Han exposed Ctrip's "routine" in Weibo. At present, Ctrip's widely questioned behaviors include bundled sales, false prices, high-priced refunds, and big data killing. This also makes many people in the industry question whether Ctrip's rising operating income is also based on illegal operations that ignore the interests of consumers.
Last year, I brushed my circle of friends "one year10 billion? In the article "Revealing Ctrip's Deception Trap", it is pointed out that Ctrip will charge some default fees when booking air tickets and train tickets, and this kind of bundled sales will bring Ctrip about 654.38+0 billion revenue every year.
Today, Ctrip has not completed any step beyond, but has been suppressed by the cross-border US delegation and lost some of its territory. According to the information provided by Meituan, from 2065438 to March 2008, Meituan Hotel surpassed the sum of Ctrip, Qunar and Tongcheng Yilong for the first time with a monthly stay of 22.7 million.
Some people believe that Ctrip's overweight layout of new financial business may be directly related to the continuous pressure on its main business.
On September 6th, Ctrip released the second quarter financial report of fiscal year 20 18. According to the financial report, 20 18Q2 Ctrip realized an operating income of 7.3 billion yuan, a year-on-year increase of 13%. The net profit attributable to shareholders of the company was 2.4 billion yuan, compared with 359 million yuan in the same period last year, up 564% year-on-year. However, the increase of profit mainly benefits from the increase of non-operating income, including the equity income of affiliated companies and non-holding companies.
From the specific business point of view, Ctrip's income mainly consists of four parts: hotel reservation, transportation ticketing, travel and vacation, and business travel. Among them, the growth rate of accommodation booking and transportation ticketing, which accounted for more than 80% of the revenue, slowed down obviously, especially in the latter, and the revenue showed a downward trend.
Related question and answer: How long will Ctrip's financial line be locked before it can re-apply for line unlocking? Due to the change of user's credit qualification conditions, users can't get loans through this quota, and Ctrip Finance has locked in the loan quota. In this case, the user must reapply for the loan limit. After the system is approved, the system will give a new loan amount. Of course, it is not excluded that the user has overdue repayment before. If the system locks the quota, it means that the system will not provide loan services to users temporarily. In addition, when the user's loan is not approved, the loan funds cannot be obtained, even if there is a credit line, because the credit line does not mean that the last line has not applied for any loan credit business for at least 2 months, because no matter whether it is successful or not, the credit inquiry will leave a hard inquiry record. : 1. Otherwise, if you apply for borrowing flowers again, you may get stuck if you see more query records within 2 months. It is relatively simple to maintain credit by handling credit business, that is to say, if you have a credit card, you have to swipe some points every month. The key is to repay the loan on time and standardize the use of credit cards. Put an end to abnormal transactions and increase the number of credit inquiries. If you have a loan, it won't expire. In fact, if you have a quota, you can't borrow money, which is normal. After all, borrowing requires a comprehensive evaluation of the user's credit status. The evaluation requirements are more stringent than when granting credit. You will check the credit survey to understand the credit and liabilities of users. Generally speaking, people with good credit, less debt and strong repayment ability are more likely to borrow money. From the feedback of many users, most people are trapped in the inability to borrow a certain amount of credit information. 2. For example, some people have not paid their debts before borrowing, or have been in debt for three or six times in the last two years. These are all objects that must be rejected. In addition, although there are no overdue records, it is impossible to query the records in the past two months more than six times. Ctrip's loan amount is evaluated irregularly by the system, and will change with the change of the borrower's credit status and account status. For example, if the credit conditions continue to improve, the account activity is high and the credit score is improved, the loan amount may increase. On the contrary, the loan amount may be locked, and it is necessary to reapply for the loan amount. Therefore, if you lock in and reapply for the loan amount, you can find the reason from the user's credit status and the user's account status. 3. User's credit status: Usually the most obvious change is that the credit is not as good as before, which affects the repayment ability. You can check whether the credit information has expired or there are too many inquiry records; Then judge the personal debt ratio from the debt situation shown in the credit report, maintain a good credit, reduce the debt ratio as much as possible, and the probability of reapplying for the quota will be higher. Current status of the account: if the activity of the account is very low, the account has been borrowed for a long time, or Ctrip illegally handles loans, overdue loans or other credit products, such as paying flowers and not repaying on time, etc., resulting in a decline in the comprehensive score of the account and failing to meet the evaluation standard of the loan amount.