According to the financial report: As of the end of 2018, Yixin Group’s total assets were 50.542 billion yuan, a year-on-year increase of 1.791%; total liabilities were 35.124 billion yuan, a year-on-year increase of 27.61%; the annual revenue was 5.53 billion yuan, a year-on-year increase of 27.61%; An increase of 42% over the same period; adjusted net profit was 345 million yuan, a year-on-year decrease of 26%. Among them, financial leasing service revenue was 4.1 billion yuan, a year-on-year increase of 55%, accounting for 74% of the total revenue.
As a member of the Tencent department, you have to know that Yixin Group is not just a female classmate without a story. It is also the largest Internet car retail trading platform in China, right?
The story starts from that year when it was not called Yixin Group: Let’s briefly introduce Bitauto, which was established in 2000. Bitauto is one of the earliest companies in China to produce Internet automotive content. Its operations The platforms include: Bitauto website, Bitauto APP and Automobile Quotes APP.
The predecessor of Yixin Group is Bitauto Automotive Financing Division established in December 2013. In August 2014, Shanghai Yixin Financial Leasing Co., Ltd. (referred to as "Yixin Leasing") was registered in Shanghai. The current registered capital is US$1.5 billion. In November 2014, Yixin Group was registered in the Cayman Islands and is a subsidiary of Bitauto. Shanghai is Yixin’s operational headquarters. In November 2017, Yixin Group was successfully listed on the Hong Kong stock market, with a current total share capital of 6.371 billion.
The business relationship between Bitauto and Yixin Group basically does not overlap except that advertisers may place advertisements on both platforms at the same time:
a. Advertising and membership: Some customers may choose both Bitauto and Yixin Group when advertising, but their positioning and target audiences are different. Bitauto's advertising customers are automobile manufacturers that publish new car advertisements, while Yixin Group's customers include automobile manufacturers, dealers, financing partners and insurance companies of new and used cars.
Bitauto’s members are mainly dealers selling new cars, while Yixin Group’s members are mainly dealers selling used cars.
b. Transaction services: Bitauto indirectly operates transaction service business (transaction facilitation and value-added services, self-operated financing business) through its shareholding relationship with Yixin Group.
c. Digital marketing: Yixin Group has no digital marketing business.
Let’s take stock through the timeline. Over the years, there are stories about her: In December 2013, the Bitauto Automotive Financing Division was established. In 2014, it only had advertising and member service businesses; in the second quarter of 2015, it began to operate self-operated financing business; in the second quarter of 2016, it began to carry out loan facilitation business; in February 2017, it launched an operating leasing product - Drive Away; it was launched in June 2017 Trading platform - Taoche brand.
In today’s emerging Internet platforms, without traffic, it is almost a matter of life and death. There is a very vivid saying: The world belongs to entrepreneurs, but ultimately it belongs to BAT. Yixin Group has officially taken a fancy to this by cooperating with traffic giants such as Tencent and JD.com.
With BAT online, what about offline cakes? Financial leasing business is Yixin's main source of income. Yixin's automobile financial leasing products are richer and more efficient than those of banks and automobile finance companies.
As of the end of 2017, the average financing amount and term of each consumer's financial lease were 70,000 yuan and 330,000 yuan respectively, and the average yield of Yixin's net financing accounts receivable was 13. The main products are financing solutions such as One Securities Loan, Two Securities Tong, and Xindongrong. Figure 4 shows the entire consumer-centered automobile trading ecosystem. Many of these dealerships have become Yixin stores in the form of franchise stores.
Maintaining SP well can help Yixin better develop business and sell products, especially the large-scale 10,000-level SP. On July 4, 2019, the leaders of Yixin Group visited Pony Car Provide work guidance and discuss deepening cooperation in the second half of the year.
The purpose of Yixin Group's visit is to "deepen cooperation and continue innovation". The two parties will carry out further in-depth cooperation in Kuruong credit, car loan business, risk management and asset collection and other businesses.
What is the story between a tens of thousands of SPs like Xiao Ma Yongche and Yi Xin?
In 2015, Pony Auto was officially authorized by Yixin as an auto finance distributor in Guangdong Province, and won the first place that year. In 2015, it won the title of "National Sales Champion" by Shanghai Yixin Financial Leasing Co., Ltd. Since 2015, Pony Car has continued to rank first among Yixin authorized auto finance distributors in terms of business volume nationwide.
It is reported that on the same day, the two parties had in-depth communication on the access of Kuruong credit and car loan business to Shenzhen, Guangzhou, and Dongguan, as well as the undertaking and service optimization of Yixin System in risk management and asset collection business. Reach cooperation. In the second half of the year, Pony Auto will provide implementation services based on the strategic layout of Yixin Group, and use its own advantages to empower car dealers and support their financial services.
The store is the end point of Yixin’s closed-loop transaction and is responsible for delivery and after-sales. In the early days, auto e-commerce companies could only rely on sales leads to make profits. Precisely because of the lack of offline delivery system, profits from sales, car loans, insurance, and after-sales were still in the hands of 4S stores.
However, if the offline business experience is not good, not only the transaction may not be completed, but the car owner may also abandon the use of the online platform. Therefore, the platform's ability to control offline channels is also very important.