Fintech first quarter report perspective: fully implement the upper limit of loan interest rates, plus small micro -seeking business breakthroughs

The 21st Century Economic Herald reporter Chen Zhi reported that as of mid -June, all the stocks in the financial technology listed in the United States all announced the first quarter financial report.

The reporter noticed that due to the repeated impact of macroeconomic fluctuations and epidemic conditions, the performance of stocks in fintech showed two new trends.

First, the overdue rate has risen slightly from the previous month. For example, FINV.NYSE, LX.NASDAQ, and 360 Division (QFIN.NASDAQ) have reached 1.64%, 2.4%, and 2.4%, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively. The quarter -quarter increased by 0.38, 0.48 and 0.86 percentage points.

Second, while a number of fintech platforms have steadily increased in revenue, net profit has fallen year -on -year. For example, the revenue of 360 Digital and Xinye Technology in the first quarter of this year reached 2.447 billion yuan and 4.32 billion yuan, respectively, an increase of 15.8%and 20%year -on -year, but the net profit of the two in the first quarter was 534 million yuan and 1.18 billion yuan, respectively. RMB, a year -on -year decrease of 9.9%and 12.5%.

A number of people in many fintechs revealed to reporters that the overdue rate of the first quarter of financial technology in many financial technology increased, mainly due to various factors, such as the repeated macroeconomic fluctuations and epidemic conditions. The loan is repaid on time. In addition, the active debt -making phenomenon has also made some borrowers adopting a malicious debt strategy of malicious debt to drag the extra time of the platform. The year -on -year decline in profit margins, or it has a close relationship with many platforms began to strictly implement the upper limit of loan interest rates, which has caused their average interest rate level to decline, affecting profit margins.

A 360 -digital person revealed to reporters that as of the end of the first quarter, their self -operated consumer credit product interest rates have all implemented the annualized IRR (internal yield) of no more than 24%.

Reporters have learned that in response to these new market environment changes, many of the stocks of many fintech have adjusted their operating strategies. One is to tilt credit resources to high credit rating customer groups to reduce the overdue rate; the second is to increase small orientation for small orientation. Credit distribution of B -end customers such as micro -customer groups, hedging 2C consumer finance business risks; third, actively expand technology output business and seek new business growth points.

Among them, increasing the credit of small and micro customer groups, it has become a "consensus" for many financial technology stocks to seek business breakouts.

The reporter sorted out the relevant data that in the first quarter, the Lexin helped the small and WeChat group to obtain 4.2 billion yuan in credit loans, an increase of 102%year -on -year; the seasonal Xinye Technology provided services to more than 507,000 small and micro enterprises, with a year -on -year increase of 66.2%; during the same period, during the same period; The credit scale of 360 Division to SMEs also reached approximately 7.4 billion yuan; Lu.NYSE (Lu.NYSE) added 83.5%to the small and micro enterprise owners in the first quarter, an increase of 7.8 percentage points over the same period last year.

An operating director of a fintech platform admitted to reporters that as the country actively introduced measures to support the development of small and micro enterprises, many fintech platforms regarded small and micro customer groups as new blue ocean markets. In addition, more and more banks have added small and micro one after another. The amount of credit investment helps the latter's scale of the loan -aid business expansion.

"More importantly, because of the long -term providing credit services to individual households and husband and wife stores, the fintech platform has also accumulated relatively mature risk control experience, making them look easy in this market." He pointed out. As the macroeconomic fluctuations and epidemic repeatedly make personal loan consumption decline, individual fintech platforms are planning to increase the scale of new loans to the small and micro customers during the year.

At the same time, some fintech platforms focus on obtaining new business income growth space through technology output. For example, the credit card recommendation business revenue in the first quarter of this year increased by 24.8%year -on -year, becoming the largest online customer acquisition channel partner of many credit card issuers.

Ye Daqing, co -founder and CEO of Janepu Technology (JT.NYSE), told reporters that now the demand for digital transformation of banks is presenting new features such as professionalism, intelligence, and cross -border integration, which gives the fintech platform for new technology output expansion space, such as, such as, such as, such as, such as, such as, such as the expansion of the financial technology platform, such as, for example Financial technology platforms can assist financial institutions to obtain customers at the same time and better identify and analyze customer portraits through different channels, provide customers with better services and increase customer life cycle value.

Multi -pronged alignment to curb overdue rates increased

A financial technology shareholder revealed to reporters that since the fourth quarter of last year, they have noticed that the overdue rate has rebounded. The reason is that the first is that the macroeconomic fluctuations have caused some borrower's income to be affected and cannot repay the loan on time. Since this year, the epidemic situation has caused this situation to worsen this situation.

"In the first quarter of this year, many stocks in fintech involved in loan -aid business have adopted relatively prudent operating strategies." He told reporters. At present, they have tilted credit resources to high credit rating customers at the same time, and they have suspended lending for certain customer bases with overdue risks.

The reporter was informed that this led to some financial technology platform borrowing in the first quarter to promote the corresponding decrease in scale. For example, Lexin's loan amount promoted by financial institutions in the first quarter was 43.2 billion yuan, a year -on -year decrease of 19.8%from the first quarter of 2021.

However, the scale of stock loans in many fintech still increased against the trend. For example, in the first quarter of this year, the scale of loans promoted by 360 Division reached 98.8 billion yuan, an increase of 33.29%year -on -year; Xinye Technology created a loan scale of 39.7 billion yuan, an increase of 48.1%year -on -year; 100 million yuan, an increase of 40.5%year -on -year. The above -mentioned director of fintech platform operations believe that behind this is mainly affected by the two major factors. One is that Lexin's original borrowing scale is large. Under the influence of macroeconomic fluctuations and epidemics, the corresponding control of the scale of compressed loans is controlled to control the corresponding corresponding Credit risk is a kind of secure approach. In contrast, the original loan scale of some financial technology stocks in some fintech is relatively low. Instead, it can exert the advantage of the "small ship to look up" and lay out the growth of new businesses to maintain loans. Second, this year this year Since then, many fintech stocks that have achieved growth in loans have invested a lot of credit resources in small and micro business, driving the scale of loans to rising.

Data show that in the first quarter, the amount of loans that facilitated Xinye Technology in the small and micro field increased to 9.8 billion yuan, accounting for 24.7%of the total borrowing of the quarter.

From the perspective of many people in the industry, compared with the new business layout to maintain the growth of loans, the current stocks in fintech are urgently needed to solve it is to optimize the risk control strategy to reverse the overdue rate.

Zheng Yan, chief risk officer of the 360 ​​Digital Section, said that they are continuously optimizing the risk model. By introducing more high credit rating and high -quality users, the borrower's risk status has been improved. Fall to 5.2%; in addition, the 30 -day payment rate of 30 days in the face of the epidemic decreases from 87%to 86%. They are also actively adjusting the post -loan management strategy. Eliminate the return rate.

"With the continuous advancement of the re -production and re -production, the revenue of the vast number of borrowers has recovered, and the quality of credit assets in the second half of the year may gradually improve." He pointed out.

A Lexin person pointed out that they are now optimizing the risk grading strategy of stock users, speeding up high -risk users, and increasing the proportion of contributions of low -risk -level users.

Increase small and micro customer group and digital marketing business

It is worth noting that the increase in small micro -credit business has become a common choice for many financial technology stocks to seek business breakout under the changes in the market environment.

Among them, the scale of small micro -credit in the first quarter of small micro -credit in the first quarter of fintech shares, such as 360 Digital Division, Xinye Technology, and Lu Jin Institute, continued to grow. In addition, in the face of the year -on -year decline in credit contributions to the first quarter, Ji Lexin still assisted small and micro enterprises to obtain a credit loan of 4.2 billion yuan, an increase of 102%year -on -year.

The directors of the operation of the fintech platform revealed to reporters that the reason why many stocks in many fintech continued to lay out the small micro -credit market is mainly affected by the three major factors. First, in their borrowing customers, individual households and husband and wife shops The proportion continues to rise and even contributes a large proportion of the scale of assistance business, so that the small and micro customer groups in fintech shares as a separate important credit asset category will continue to increase the investment in credit resources. Second, the relevant state departments since this year this year Continue to increase the credit support for small and micro enterprises, so that the amount of small and micro -credit investment in banks will continue to increase, but will bring greater increase in loan -aid funds for small and micro customer group business in fintech shares. The experience service experience of individual households and couples can assist banks to better achieve accurate customer acquisition and assistance risk control, guide more credit funds to flow to small and micro passenger groups, while driving their own loan assistance business steady and rapid growth.

Reporters have learned that more and more fintech stocks are working with small and medium -sized banks. New citizen entrepreneurial groups provide exclusive credit products.

However, despite the continuous rapid growth of small WeChat credit business in the first quarter, many people in fintech stocks bluntly said that this business is encountering a stronger "ceiling" effect. The reason is that the first is the growth of small and micro business in fintech stocks, mainly from existing existing existing customers. However, if the small and micro customer base is "exhausted", how to obtain new customers in the financial technology platform and how to do a good job of risk characteristics and risk control measures for new customers will become a major challenge for the steady development of small and micro business; Second, in order to control the risk of small and micro customer groups, some of the stocks in some fintech put a large number of small micro -credit resources into small micro -customer groups such as tobacco retail, which leads to obvious limitations in business development and cannot quickly expand to small and micro -micro -micro -micro -micro -micro -micro -micro -micro -micro -micro -micro -micro -micro -micro -micro user group.

"More importantly, as the epidemic has repeatedly led to many retail wholesale and catering industries such as individual households and husband and wife stores in the operation of new changes, how to optimize the risk control model in a timely manner for financial technology platforms to avoid surging bad debt rates, which will greatly affect their future. Small and WeChat business transcripts. "The person in charge of a small and micro business of a fintech platform pointed out.

The reporter learned that more and more fintech stocks are currently trying to cooperate with various consumer scenarios, small and micro enterprises' financial SaaS platforms, and strive to open up the upstream and downstream trade information data of small and micro enterprises, and the post -epidemic era to resume production and re -production in the era of epidemic situation. New operating data and changes in capital turnover status, and gradually expand the coverage of small and micro -credit customer groups while doing a good job of risk control.

At the same time, some fintech platforms have taken a different approach to obtain new business development space by improving banks to improve digital marketing.Ye Daqing told reporters that as the bank continues to promote digital transformation, they have higher requirements for increasing user retention and customer loyalty. Financial technology platforms can rely on their own technology to help financial institutions to obtain customers at different channels, while better better way, better better wayIdentify and analyze customer portraits to assist them with better financial services to further enhance user retention and customer loyalty.

"Since this year, we have accelerated the layout of omnicular strategies, expanded digital marketing services such as credit card recommendation to adjacent categories with large user bases, rich data, and huge financial demand, and omni -channel collaborative management based on social essay and private region flows.The platform expands all kinds of non -financial services to help banks achieve multi -channel customer acquisition, customers, and promotion. "Ye Daqing pointed out.This made the digital marketing service revenue of the first quarter increased by 2.5 times year -on -year, of which the new business quarterly yield increased by 10 percentage points month -on -month.

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