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(Source: Enterprise Check)
Check and show that in 2015, Fangduo set up a financial services subsidiary in Shenzhen, Shenzhen Qianhai, a number of financial services limited. Penetrating the shareholding structure found that Shenzhen Fangduo Network Technology Co., Ltd. is its major shareholder and holds 100% of its shares.
In 2015, Shenzhen Fangduo Internet Financial Services Co., Ltd. was established with a registered capital of 10 million yuan. Shenzhen Qianhai Many Financial Services Co., Ltd. is its major shareholder and holds 100% of its shares.
In addition, in 2015, Fang Duoduo also invested in the establishment of a small loan company – Wuhu Fangrong Network Microfinance Co., Ltd. Among them, the majority shareholder house holds 89% of the shares; Shanghai Fanghaoduo Network Technology Co., Ltd., which holds 100% of the shares, holds 10%.
However, in 2016, the property market ushered in the strictest regulation in history, and the volume of new home transactions declined significantly.
At the end of July 2016, the “Opinions on Strengthening the Management of Real Estate Intermediary to Promote the Healthy Development of the Industry” jointly issued by the seven ministries and commissions proposed that “intermediaries should not provide or cooperate with other institutions to provide financial products and services such as down payment loans and other illegal and illegal regulations” The regulations have blocked the financial layout of the room.
The blockage of Internet finance business did not allow the house to give up more financial business. According to the prospectus information, the main income of the house is from the basic commission income of the transaction and the income of the innovation plan and other value-added services.
Innovation plans and other value-added services revenues, including sales incentive revenue, franchise revenue, financial services revenue, loan facilitation service income, and other value-added services revenues to registered agents and market participants. According to the information in the prospectus, the income from value-added services such as innovation increased from 49.8 million yuan in 2016 to 146.5 million yuan in 2017, an increase of 194.1%; in 2018, it increased by 69.4% to reach 248.1 million yuan.
After the adjustment, as of June 30, 2019, the income of the Housing Innovation Program and other value-added services was 67.2 million yuan, a decrease of 42.7% from the 117 million yuan in the same period last year. Judging from the information disclosure of the prospectus, the revenue contributed by the financial services revenue of Fangduo is really small.
In March of this year, the house has adjusted its new business model, which is suitable for broker sales, that is, through the Internet technology to help real estate agents complete the transaction, and provide them with new housing,Platform analysis, brokerage, network card, flash commission and other data analysis products.
However, there are not many competitors in the new business model. The room is mostly disclosed in the prospectus information, and its main competitors include Anjuke, the chain house to find the house, and the house world.
Compared with competitors such as Anjuke and Shell to find a house, the room has lost its innate advantages, whether it is endorsement from the brand or the capital strength of shareholders. In the future market competition, the room will face enormous competitive pressure.