On June 25, 2016, nearly 800 representatives from relevant government departments, logistics companies, logistics parks, logistics financial service companies, large and medium-sized manufacturing companies, commercial and trading companies, investment and financial institutions, and Internet and information platform representatives from all over the country Gathered in Zhenjiang.
Why is this described in Xin Qiji's words looking at China? The eye-catching beijing city of beijing building, because the 2016 China logistics and finance summit was held again. Chuanhua Finance was invited to participate in the conference, and Zheng Lei, vice president of Chuanhua Logistics, gave a speech.
▲ Zheng Lei, Vice President of Chuanhua Logistics gave a keynote speech
Colleagues from the industry, today, the theme I share with you is from scene to ecology. Regarding logistics finance, I think the scenario is the most important, and it is more important to promote the scenario to ecology.
I am a loan officer and know that without risk management, all business models are the truth of mirages. In the past, we have also done a lot of mortgages for operating vehicles and steel trade supply chain finance. What happened? The default probability of risk has reached 20% to 30%, and the default loss rate of the latter is as high as more than 50%.
Why is there such a result? Because in the business car mortgage, the bank does not know three: one is a real driver, a fake driver? I do n’t know; second, is the driver ’s business good or bad? I do n’t know; third, where is the car after the customer defaults? Where is the person do not know. Similarly, in supply chain finance, banks also don't know three. One is where the cash flow eventually goes? I do n’t know; the second is the real-time condition of the subject matter controlled by the pledge? I don't know; the third is that the information and data of the entire industry chain is even more confused.
Behind these unknowns is because there is no control over the scene, and no ecology is created.
Below, I will take Chuanhua Finance as an example to share with you how to build a rich scene and gradually upgrade to a fully covered logistics financial ecosystem.
Let's talk about our architecture first. Chuanhua Finance serves cargo owners, logistics companies and drivers. The first module we landed on was payment services. Someone asked me why I do n’t need a lower-cost co-branded card (debit card), because only after I have mastered my own payment channel, B2B, C2C, and C2B will have payment data with high gold content. Comprehensive analysis of capital flow and information flow for value-added services such as asset management, wealth management, and credit reporting.
Our second module is commercial factoring, the third module is financial leasing, and the fourth module is insurance brokering. This information has been published on the Shenzhen Stock Exchange, and everyone can continue to pay attention. Among them: commercial factoring and financial leasing, which mainly focus on a small B, that is, a logistics company, a C-side, that is, a driver; and an insurance broker will use the Internet to achieve full coverage of the big B, that is, the owner, and the small B and C-side. Then, through the closed loop of payment, four-flow integration is realized, and data precipitation is formed. On the basis of this data, when we integrate the data of the same city, off-site vehicle-cargo matching platform, supply chain service platform, and third-party data, it will evolve into real big data.
What's the use of big data? We will gradually move towards the credit end mode of C + B. Many people say to do big data and credit reporting, and I think there are only three modes that are reliable. Which three? You answer three questions. The first question is: Will your model have data that only you have? If not, there will be no core competitiveness. In this case, the C terminal may be more valuable than the B terminal. why? 1.3 billion people across the country, how many of them have repayment information in the PBC? 300 million! Looking at the truck driver group of tens of millions of people across the country, most of them do n’t even have a debit card. Why is there traditional credit information? The second question is: Do you have structured big data and result-oriented dynamic credit reporting models that can really distinguish the probability of default? The third question is: Do you have an applicable scenario to realize the realization of traffic through the results derived from a set of models? In my opinion, Chuanhua has a competitive advantage against the above three issues!
In this process, how to do a good job of risk management? I think the key is risk pricing. Five variables: variable costs of funds (sources), fixed costs of operations, tax costs, value at risk (VAR), and shareholder's expected rate of return. Among them, the value at risk is the most difficult to control. It is the probability of default multiplied by the default loss rate, which is equal to the predictable risk cost.
Our big data is rolled out by using our own payment platform, plus the Internet of Things technology, which provides us with comprehensive management of VAR: big data to manage the probability of default; the Internet of Things Regarding the loss rate of default.
This reminds me that some time ago, the 月月斗地主蓝牌官网 of naked loans by some p2p female college students once attracted widespread social attention. Why should naked loans? Because after the client defaults, p2p has no way to manage the risk. However, if it is a complete ecosystem, if the subject breaches the contract, the Internet of Things will know where the pledged subject matter is and the state of the goods, and then it can dispose of it and find the subject. This is the true model of risk management.
With the above architecture and scenarios, let's talk about ecology. The three major users around the logistics ecosystem (consignees, logistics companies, and drivers) are horizontally the business model of logistics. Financial services are needed in the business circle. The owner delivers the goods to the logistics company, and the logistics company delivers the list to the driver. Consignee. What is vertical? Vertically, it is the supply chain and industry chain, which cannot be separated from the supply chain financial services. As you can see, there are also a series of platform-based products and services such as our land whale, barter barn, and Tudu Radio. Time is limited, I will not start one by one.
Looking to the future, the value of the Chuanhua ecosystem is unlimited. At present, China's economy has entered a new normal. In the next few years, capital will not be the focus, and even capital will not be a problem. However, if you want to find reliable asset targets, including equity, debt, and hybrids, it will become increasingly difficult. However, in our ecosystem, we can generate a series of asset targets and realize self-circulation. For example, online micro-loans, commercial factoring, and financial leasing can be securitized to turn assets into securities. After securitization, funds will return and return to the ecosystem. This is what I call the ecosystem.
▲ Zheng Lei spoke at the Forum on Logistics Finance Innovation and Investment
In the following, I will use the Chuanjin Institute (commercial factoring) as an example to demonstrate the business and profit model, which fully reflects the characteristics of high frequency, small amount, and long tail. There will be freight between the cargo owner and the logistics company 3PL, and then the logistics company will deliver the goods to the driver and settle the freight. The same is the freight, but there is an average time difference of several months between the two links. At this time, the pain point arises, and the Chuanjin will deal with the owner's payables, 3PL's receivables, provide discount services for receivables, and introduce a securitization-like circular purchase receivable pool model.
The above model has at least three values. First, from the user's perspective, it provides logistics companies with discounted accounts receivable services. Second, from the perspective of the ecosystem, provide financing services for users of Internet and supply chain products, thereby increasing stickiness and building a sustainable profit model. Third, core data. It took 80 days from the first factoring to June 5, and the accumulated loan amount exceeded 330 million yuan. This is only an internal beta stage.
And this is not exactly the investment value of the logistics industry we are talking about today? !!
In the end, I use a sentence to summarize the future investment trend of the logistics industry. From the industry to the finance, from the beginning to the end, use the financial concepts, tools and methods to truly serve the real economy. thank you all!