Chongqing Department Store Launched 90 Million Consumer Finance Companies

< p > Chongqing department store announced in July 17th that the company decided to act as the main sponsor and jointly launch Chongqing instant consumer finance Limited by Share Ltd (provisional name) with Beijing Beijing Run Trading Co., Ltd. and Chongqing bank Limited by Share Ltd.

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< p > unlike previous Consumer Finance Companies, the largest investor is no longer a bank. Chongqing department store invested 90 million yuan, accounting for 30% of Consumer Finance Companies shares and became the largest investor.

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< p > it is worth noting that Haitong Securities research report pointed out that although the financial industry has a high gross profit margin, fierce competition in the industry is a problem that can not be ignored in Chongqing department stores.

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< p > < strong > < a > href= > http:// > www.91se91.com/news/index_c.asp > Chongqing department store > /a > the largest contributor < /strong > /p >

< p > July 17th, Chongqing department store announced that the company decided to set up the Consumer Finance Companies as the main sponsor, with a registered capital of 300 million yuan.

Among them, Chongqing department store invested 90 million yuan, accounting for 30% of the contribution.

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< p > the rest include 6 companies: Beijing Zhi run commerce and Trade Co., Ltd., Chongqing bank Limited by Share Ltd, Sun Property Insurance Limited by Share Ltd, Zhejiang China Commodity City Group Limited by Share Ltd, Wumart Holding Group Co., Southwest Securities and Limited by Share Ltd.

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< p > Bulletin shows that consumption is less than a href= "http:// www.91se91.com/news/index_c.asp" > financial company < /a > business scope mainly includes issuing personal consumption loans; accepting deposits from domestic shareholders and domestic shareholders; borrowing loans from domestic financial institutions; issuing financial bonds through approval; domestic interbank borrowing; consulting and agency business related to consumer finance; selling insurance products related to sales and consumer loans; and investing in fixed income securities business.

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< p > it is worth noting that when the Consumer Finance Companies was established, the Chongqing department store could receive a dividend policy.

The revised "Consumer Finance Companies pilot management measures" (hereinafter referred to as the "measures") allows the business revenue of not less than 30 billion yuan in the recent 1 years, and the main business is to provide non-financial enterprises with various ownerships for consumption loan business as the main contributors and initiate the establishment of Consumer Finance Companies.

Chongqing department store 2013 annual report shows that its operating income is 30 billion 246 million yuan, and its total profit is 928 million yuan.

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P, a securities analyst who asked not to be named, told the daily economic news that "before the main investor could only be a bank.

Chongqing department store has the qualification of the revised "method", so unlike the Consumer Finance Companies established in the past, Chongqing department store can become the main investor.

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< p > "the cash flow in the department store is good. The Consumer Finance Companies is set up to make full use of the company's cash and increase liquidity."

Zhao Ping, deputy director of the Consumer Economics Research Department of the Ministry of Commerce, also told the daily economic news reporter.

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< p > < strong > < a > href= > http:// > www.91se91.com/news/index_c.asp > Finance > /a > gross margin higher > /strong > /p >

< p > Chongqing department store said in its 2013 annual report, "in 2013, domestic economic growth slowed down, industry changes intensified, commercial property rents and labor costs increased, and shopping centers, e-commerce and other emerging formats accelerated the impact of traditional retail businesses, and business pressures increased sharply."

Meanwhile, a quarterly report of Chongqing department store in 2014 showed that the operating income reached 9 billion 30 million yuan, a slight increase of 2.19% over the same period last year.

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< p > the development of retail business is blocked. Chongqing department stores began to look for new interest growth points. Haitong Securities research reported that the Consumer Finance Companies was launched. "It marks its business scope extended from traditional retail to the financial sector, and is expected to provide new sources of income and profits through providing credit services to consumers and other financial services.

At the same time, it is conducive to increasing the stickiness of consumers, reflecting the inherent links between retail and finance.

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< p > "at present, the gross profit margin of the retail industry is only 10%~20%, while the gross profit margin of Consumer Finance Companies is relatively high, even up to 90%."

The securities analysts said.

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< p > however, opportunities and challenges often exist side by side.

Chongqing department store said in its announcement, "at present, the popularity and use advantages of credit cards have weakened the market competitiveness of Consumer Finance Companies to a certain extent.

With the development of Internet finance, the emergence of virtual credit cards and the prosperity of P2P, the market competition has further intensified.

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< p > Zhao Ping also said, "unlike P2P, most of the Consumer Finance Companies launched by Chongqing department store can only be based on its own customers, and cannot have a wide range of Internet users like P2P."

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