The hard attitude has exposed the determination to crack down on usury companies, but many usury companies have not attracted enough attention, but instead continue to find ways to swim on the edge of regulation.
Since September, many financial companies in Hangzhou and Shanghai have been investigated by the police continuously. This time, the sword fell on 51 credit cards.
02 From managing credit cards to matching credits
As the largest online credit card management platform in China, how is 51 credit card linked to online loan business?
Maybe, from the financial data of 51 credit cards over the years, you can see some clues. According to the 2019 semi-annual report data, the number of registered users of 51 credit cards was 83.4 million, and the cumulative number of managed credit cards reached 138.7 million, accounting for about 20% of the total credit card in the country.
In the first half of 2019, the total revenue of 51 credit cards was RMB 1.4 billion, up 9.8% year-on-year; the adjusted net profit was 309 million yuan, up 12.9% year-on-year, and the total revenue and net profit once again achieved steady growth. .
The previous prospectus shows that 51 credit card revenue consists of four main components, namely credit card technology services, credit introduction services, credit matching services and other services.
It is particularly noteworthy that in the total revenue of 1.4 billion yuan, the credit-credit service income and credit introduction service income accounted for 71.5% of the loan-related business income. In other words, if the two big businesses are divested, the performance of 51 credit cards can only be described as “lack of goodness.”
51 credit card was born to help credit card holders solve the pain of managing multiple credit cards, but as 51 credit cards continue to grow and develop, credit card management business has clearly become a hindrance to its development, business transformation It is imperative.
The credit matching service is on this node and is naturally pushed to the position of the core business.
From 2015 to 2017, the revenue of 51 credit card credit matching services was 16 million yuan, 380 million yuan and 1.62 billion yuan respectively, and the proportion of total revenue also rose from 17% to 71%.
After listing, the 51 credit card credit matching service is still strong. According to the 2018 annual report data, 51 credit card revenues were RMB 2.8 billion, of which credit matching and service income was 2.056 billion yuan, accounting for 73.1%, and credit introduction service income was 203 million yuan, accounting for 7.2%.
