P2P market needs regular troops. Yunyou Holdings acquires Jianlicai to focus on technology finance

[51CTO.com original article] The earliest P2P online lending platform in China was established in 2006. In the following years, the development of the P2P industry slowed down. It was not until 2010 that online lending platforms were favored by many entrepreneurs and some trial runners began to appear. In 2012, China's online lending platforms entered a period of explosive growth. According to incomplete statistics, in 2012 alone, the annual transaction volume of online lending platforms in China, including offline lending, exceeded 10 billion. In 2013, online lending platforms flourished, with a rapid growth rate of 1-2 online platforms every day.

In the early stages of development, the Internet finance industry was not favored by most people, and there were many chaos in actual operations, which lowered the image of P2P in the minds of investors and financial managers. In August last year, the China Banking Regulatory Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office jointly issued the "Interim Measures for the Management of Business Activities of Online Lending Information Intermediaries", which clarified the information intermediary positioning of online lending platforms, and divided the functions of the online lending supervisory agency, the China Banking Regulatory Commission, and local financial regulatory agencies. At the same time, it clearly stipulated the upper limit of the loan balance of the same borrower in the same online lending institution and different online lending institutions, including the requirement that individuals do not need to borrow more than 200,000 yuan from the Internet, and enterprises are not allowed to borrow more than 1 million yuan. The online lending industry has officially entered the regulatory era, and it also indicates that a group of regular troops in the online lending industry are about to appear.

[[202007]]
Group photo of the senior management team of Yunyou Holdings Jianlicai

On the afternoon of August 31, a corporate strategy release event titled "Simplifying Finance and Gathering Strengths in Technology" was held in Beijing. Forgame Holdings Limited, a Hong Kong-listed group, announced a strategic transformation to focus on technology finance, and also announced that the financial technology platform Jianlicai was officially merged into Forgame Holdings. Forgame Holdings (Forgame Group) was established in 2009 and started out as a web game developer and publisher. In the past eight years, it has accumulated 200 million registered users in more than 100 countries and regions, and has cooperated with more than 300 publishers, achieving remarkable results.

The transformation of a gaming company into the field of Internet finance shows us the trajectory of market changes driven by technology, and of course, the vision and perseverance of the leadership team. As Wang Dongfeng, Chairman and CEO of Forgame Holdings and founder, said, the past 20 years of the entire Internet can be collectively referred to as the first half of the Internet. Its main work is to connect people, connect people with information, and connect people with goods. The next 20 years, that is, the second half of the Internet, the keyword is intelligence, that is, artificial intelligence. And the financial industry is one of the important industries that artificial intelligence is changing.

[[202008]]
Mr. Wang Dongfeng, Chairman of the Board, CEO and Founder of Forgame Holdings, gave a speech

Against the backdrop of continuous breakthroughs in science and technology, artificial intelligence will usher in a real explosion of science and technology, and finance will be the first field to be changed by new technologies, and will bring users the best experience and convenience. Yunyou Holdings is a company with Internet genes. Previously, Yunyou Holdings has formulated a strategic plan to enter technology finance and obtained an online micro-loan financial license; Yunyou Holdings' goal is to rely on artificial intelligence technology and big data risk control to make public finance easier; entering technology finance is not a simple investment behavior for Yunyou Holdings, but is based on the group's strategic judgment and industry market potential.

From traditional finance to Internet finance and now to technology finance, financial services have become a service that ordinary people need and more and more people can enjoy. In life, work, online and offline, there are more and more scenarios, which will surely become a trend. The "Jianlicai" acquired by Yunyou Holdings is also a key link in promoting the development of Internet financial business. Jianlicai regards this strategic acquisition as the starting point for its further deepening of technology and financial reform. In addition to the optimistic outlook of both parties on the future of technology and finance, the respective advantages of both parties are also an important reason for the realization of this strategic acquisition.

Internet finance represented by P2P is in the period of transition from non-standardization to standardized development. The national regulatory framework has been determined as a bottom line to ensure that the platform does not cross the line. But after compliance, in which direction will the industry move forward? How to deal with various subdivided technologies and fields? These are more dependent on more and more industry standards and the self-discipline of Internet financial companies. It is expected that a large number of P2P standards will be issued in the next year. After that, the companies entering the P2P industry will definitely be regular troops with certain strength and development potential. Their appearance will re-arrange the past chaos of the P2P industry. We look forward to the refinement of national standards and the future integration of this field with technology, and the standardized P2P era that will benefit the financial management group.

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