Jingdong Finance announced 13 billion yuan B round of financing official statement no listing plan
Sina Financial News July 12th news, early today, Jingdong financial announced that recently with CICC capital, CCC investment, CITIC investment and CITIC capital investors signed a binding capital increase agreement, the B round of financing is about 13 billion yuan, and the post valuation is about 133 billion RMB.
Compared to the A round of financing two years ago, is Jingdong financial valuation growth reasonable? Is there a plan to be listed in the future? How will the Jingdong's financial valuation be affected after the company's strategy has shifted from ToC to ToB? Sina Financial evening dialogue Jingdong financial vice president, the Secretary of the board of directors and general manager of the strategic investment department Ma Ji, he said that the valuation is the investor based on the full investigation of the operating conditions of Jingdong finance and the future outlook on Jingdong finance.
The Jingdong's financial valuation doubles in two years
It is understood that according to customary closing conditions, Jingdong finance's round of financing is expected to be completed in the third quarter of 2018.
As early as in January 2016, Jingdong finance carried out A round financing. The financing amount reached RMB 6 billion 650 million yuan. It was invested by China fund of Redwood capital, Jiashi investment and Chinese Taiping investment. The post valuation was 466, and.5 billion yuan. Then, in June 2017, Jingdong financial completed its equity restructuring and was no longer included in the Jingdong group's consolidated financial statements.
For more than two years, the valuation of Jingdong finance is about 3 times that of the A round.
For the purpose of financing Jingdong finance after this round of financing, Ma Ji told sina finance that it will invest in a strategic direction for the company. For example, the big digital technology direction.
Ma Ji said that this financial technology model has been recognized by investors. Investors are also looking forward to the future of Jingdong finance.
He gave a set of data: Jingdong financial services have maintained rapid growth. Up to now, Jingdong has accumulated more than 700 financial institutions, and has worked with financial institutions to serve small and micro businesses and 400 million users on 8 million lines.
"The current investors are buying additional shares. Jingdong financial investors are all experienced and rigorous investors in the market. Based on the full investigation of the operating conditions of Jingdong finance and the outlook on the future of Jingdong finance, the final decision is made. Jingdong finance has been recognized by investors, and Jingdong finance will continue to create value for investors. He said.
Why is there no participation of foreign shareholders in this financing?
There is a bright spot in the financing of Jingdong finance. At least 4 investment institutions with state-owned enterprises are involved.
China gold capital, founded in March 6, 2017, is a subsidiary of China Gold Corporation. As the only private equity investment fund business platform of CICC, it manages the private investment fund business both inside and outside China Gold Corporation. CICC invested in Beijing in March 1993 and mainly engaged in equity investment and investment in non-performing assets. Real estate investment is a wholly-owned subsidiary of Bank of China Group Investment Ltd, which is a wholly-owned subsidiary established by Bank of China in Hongkong in 1984.
Why did Jingdong finance B round of financing choose these investors? Why do not have the participation of foreign shareholders?
In this regard, Ma Ji pointed out that "the choice of investors is based on strategic needs, development stages, as well as the background and strength of investors to decide. This round of major investors is the background of large state-owned financial institutions, which is matched with our company's financial and technological strategy.
He said there is another factor, that is, Jingdong finance as a domestic company, all shareholders are domestic assets, and all the funds raised are RMB.
Jingdong financial statements are not listed on the market
While the Jingdong has raised funds, its bid companies are not idle, and several Internet financial technology companies, such as ant gold clothing and Baidu, have recently made progress in financing.
Public data showed that in June 8th, the ant gold suit announced a new round of financing, with a total of $14 billion in total financing, and more than 150 billion of the ant gold clothes given by several analysts.
Back to the end of April, the full (original Baidu Finance) also announced the completion of the split, financing over 1 billion 900 million US dollars, valuations or at 24 billion yuan, by TPG, Carlyle investment group, Taikang group, agricultural silver international and other investment.
Ant gold clothing, Jingdong finance, and Xiaoman, etc., have been independently split up. They are regarded as an independent listing of A by the market. Therefore, along with the B financing of Jingdong finance, the outside world has also given great attention to the listing of Jingdong finance.
Does Jingdong finance have a plan to go on the market at the moment? Ma Ji replied to Sina Finance: "we will actively track changes in the capital market, but there is no listing plan yet. There is no timetable for listing."
As the financial sector of the Internet giant, the market will automatically compare Jingdong financial and ant gold clothing to the standard companies. At present, the valuation of ant gold clothing is far higher than Jingdong finance, while Jingdong financial valuation is far higher than that of Baidu finance. In this regard, Ma Ji said frankly, Jingdong finance has just been less than 5 years, only to compare with oneself, to see others is actually of little significance.
B2B2C can create a company with billions of dollars in market value
Prior to this, Chen Shengqiang in an interview with sina finance once said, "Jingdong finance will no longer do finance". In the future, Jingdong finance will transfer all the financial assets to banks and other financial institutions, and the role of Jingdong finance is to serve the financial institutions, that is to say, the whole business is converted into ToB, and it serves as a scientific and technological product. After that, Jingdong financial has released information for many times, and Jingdong financial position is a technology company.
In the past 2017, Jingdong finance has reached a cooperation agreement with ICBC and many other banks. The data show that at present, Jingdong financial partners have more than 400 banks, more than 120 insurance companies, 110 multi fund companies and more than 40 securities, trust and rating agencies.
The Internet financial technology companies, starting with financial services, have shown that they are no longer financial, including ant finance, Baidu finance and other mutual gold giants. Internet technology companies from ToC to ToB are becoming new era draught.
According to Chen Shengqiang's outlook at the 2018 Jingdong financial internal staff meeting, he believes that the business model of B2B2C "has a great opportunity to create a company with billions of dollars in market value."
Of course, there are still many people doubt that Jingdong finance, though not finance, is still accumulating various kinds of licences. At present, Jingdong finance has a licence, such as factoring, small loans, insurance brokers, fund sales, payment, financial leasing and other licenses. Will it continue to obtain the license of financial related fields in the future?
In fact, Chen Shengqiang made an announcement in April when he interviewed sina finance. Jingdong finance did not give up all kinds of licenses for obtaining financial services. After all, with the increasingly stringent financial regulation in the future, if there is no licence, whether it is a fund, a payment or a small loan, all things can not be done, this is for compliance.
Ma Ji also added to sina finance today, whether to obtain a license or to see the company's strategy and business development needs, to ensure that the business is under the premise of compliance.
"At present, a large number of enterprise service companies in China are selling accounts. The unique feature of the Jingdong financial model is that we have users, which can both output and output users, and help financial institutions to better operate stock users and help them achieve growth, "Chen Shengqiang said:" in the future we will serve more enterprises, this is the trend of China's development. At present, the financial industry is the most digitalized, but China still has a large number of primary industries and second industries digitalized Chengdu is not high. We can also go with them. "
According to the Jingdong financial data, up to now, the Jingdong financial institutions have more than 700 financial institutions, and are working together with financial institutions to serve the 8 million line and 400 million users. In addition to the deep ploughing of financial digital services, Jingdong finance has also laid out the innovative business of urban computing, digital enterprise service, intelligent robot and so on, to realize the advance from financial technology to digital science and technology. (Sina Finance Xu Wen)
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