21st Century Asset Management Research Institute, Wu Shuang, Intern Zhao Junting, Comprehensive Compilation
1、 Regulatory and Industry Policies
Both 1-year and 5-year LPR have decreased by 25 basis points
On October 21, the People's Bank of China authorized the National Interbank Funding Center to announce that the 1-year LPR (quoted interest rate in the loan market) was 3.1%, and the 5-year LPR was 3.6%, both of which were 25 basis points lower than the previous period.
2、 Institutional dynamics
1. Haier Consumer Finance has successfully issued a 1.5 billion yuan "Duhua" series ABS, with a total registered amount of 8 billion yuan
On October 23, it was reported that Haier Consumer Finance Co., Ltd. (Haier Consumer Finance) recently successfully issued RMB 1.5 billion worth of "Personal Consumption Loan Asset Backed Securities (ABS) for the first period of 2024", marking the beginning of its "ABS" series and receiving a top rating from AAAsf. At the same time, its registered capital has increased to RMB 2.09 billion, and the company's performance has continued to grow in recent years. (Economic Observer)
2. Multiple licensed consumer finance companies welcomed 'new leaders' within the year
Recently, the Fujian Regulatory Bureau of the State Administration of Financial Supervision and Administration issued an approval for the appointment qualifications of directors of Xingye Consumer Finance Company (hereinafter referred to as "Xingye Consumer Finance"). In fact, since the beginning of this year, there have been significant personnel changes in several companies including Xingye Consumer Finance, Changyin 58 Consumer Finance, Ant Consumer Finance, Instant Consumer Finance, Zhaolian Consumer Finance, Suyin Kaiji Consumer Finance, Xiaomi Consumer Finance, Shanghai Shangcheng Consumer Finance, Xiamen Jinmeixin Consumer Finance, involving core positions such as Chairman, General Manager, Vice President, and Chief Risk Officer. (Securities Daily)
3. 39.25% equity of Happiness Consumer Finance will be auctioned off, with a starting price of 440 million yuan
On October 25th, 39.25% of the equity of Hebei Xingfu Consumer Finance Co., Ltd. (Xingfu Consumer Finance) will be auctioned on the JD Asset Trading Platform on November 17th, with a starting price of 440 million yuan, a 30% discount from the assessed price of 620 million yuan. This is due to the frozen equity of its second largest shareholder, Shenzhou Youche, due to debt issues. As the first consumer finance company in Hebei Province, Xingfu Consumer Finance currently has a registered capital of 637 million yuan, which does not meet the latest regulatory requirement of 1 billion yuan. Xingfu Consumer Finance has not yet responded to potential buyers, new shareholder conditions, and capital increase plans for this auction. (China Net)
4. Strictly prevent credit funds from flowing into the stock market! The small loan industry has also begun to take action, how does it work?
The A-share market is recovering, and investors are enthusiastic about entering the market. At this time, preventing credit funds from flowing into the stock market has become an important task to protect investors. On October 16th, a reporter from Beijing Business Daily learned that local small loan associations have received requirements from financial regulatory authorities for credit fund control and have conveyed them to member units in their jurisdiction. So far, more than 30 banks have issued reminders that bank credit funds are strictly prohibited from illegally flowing into the real estate and stock markets, and cannot be used for investing in stocks. Once discovered, measures such as early repayment of loans, suspension of loans that have not yet been disbursed, full repayment of loan principal and interest, and related expenses will be taken. (Beijing Business Daily)
5. Ctrip's net profit for the first three quarters exceeded last year's total by 15 times
Recently, Ctrip's small loan company disclosed its financial data for the first three quarters of 2024. It is reported that in the first three quarters of 2024, Ctrip Xiaodai achieved a revenue of 317 million yuan; Operating profit of 60.3533 million yuan; Net profit of 52.026 million yuan. Compared with the net profit of 3.3236 million yuan for the whole year of 2023, the increase is over 15 times. It is worth noting that Ctrip Finance is one of the 14 large platform enterprises that has completed rectification, but there are still unresolved issues. (Interface News)