Original title: 51 credit cards were investigated by the police! The stock price collapsed by 40% and the trading was suspended. The latest response came
Another big event happened in Hangzhou financial circle! 51 credit card, a financial Unicorn company listed in Hong Kong, was exposed at noon that more than 100 policemen rushed into the office building and police cars gathered at the scene.
After the news came out, the Hong Kong stock market opened in the afternoon, and the share price of 51 credit cards collapsed, once plummeted by more than 40%. What happened?
51 credit cards investigated by Zhejiang Police
Police cars gathered at the scene
According to the first consumer finance report, on October 21, 51 credit cards were involved by Zhejiang local police.
Police cars gathered at the scene. News shows that more than 100 policemen rushed into the office building with 51 credit cards in Xixi.
According to the consumer finance observer group, 51 credit cards are located on Zixia street, the first block of Xixi, with dozens of Zhejiang licensed police cars parked.
The entrance and exit on the first floor of the office building where the credit card is located are also guarded by special police.
Stock price collapse
Once plummeted by more than 40%
The news of credit card was fermented in the afternoon. After the opening of Hong Kong stocks in the afternoon, the share price suddenly collapsed, once plummeted by more than 40%, and the share price was as low as HK $1.58/share, and then the decline narrowed slightly.
51 credit card was listed in Hong Kong in 2018 and became one of the new economic companies at that time. On the first day of listing, the opening price of 51 credit card was HK $8.76, up 3.06% from the issue price of HK $8.5, with a turnover of HK $218 million.
However, as of today, the share price has fallen by nearly 80%.
According to public data, the 51 credit card launched in 2012 is one of the earliest mobile Internet platforms engaged in credit card bill management in China. Its business has covered one-stop personal financial services such as personal credit management, credit card technology services and online credit matching and investment services. It has many apps such as' 51 credit card housekeeper ',' 51 character ',' 51 character loan 'and' give you flowers'.
It is said that 51 credit card was founded by sun Haitao in 2012, focusing on credit card management tools, but it was not favored by investors because the profit model was not clear. Until 2015, 51 credit cards were transformed from "credit card management tool" to "microfinance business", and began to make substantial profits, and investment institutions swarmed in.
According to the 2019 interim performance report disclosed by 51 credit cards, there was a steady growth in the first half of 2019. The total revenue increased by 9.8% from about RMB 1275.3 million in the same period in 2018 to about RMB 1400.2 million in the first half of 2019, and the net profit in the first half of 2019 reached RMB 309 million. The proportion of revenue from non credit matching business in total revenue increased significantly from 26.8% in the same period in 2018 to 42.6% in the first half of 2019. At the same time, the proportion of financial institutions in the capital sources of credit matching business has also increased significantly.
By the end of 2018, '51 credit card housekeeper' app had 75.9 million users and managed 123 million credit cards for them. According to its recently updated interim report, the number of managed credit cards has reached 138.7 million, with 83.4 million users.
According to the prospectus, the total revenue of 51 credit cards in 2015, 2016 and 2017 was about 89.73 million yuan, 571 million yuan and 2.269 billion yuan respectively, with a compound annual growth rate of 402.9%. In terms of revenue, 2017 increased by 24.2 times compared with 2015. Most of its revenue comes from the third main business of 51 credit cards - online credit matching and investment services.
What happened to the credit card?
Why was the police investigation, the market debate.
According to the consumer finance agency, a vice president of 51 credit card said, "due to the outsourcing of 51 credit card collection, the company's P2P business is normal."
The Securities Times reporter learned from relevant people close to Yang Yuzhi, vice president of the company that Yang Yuzhi said that the company abides by the law. At present, he is understanding the situation and will make an announcement as soon as there is a situation.
The interface reports that it is mainly the outsourcing business and cash loan of subsidiaries, and the former involves crawler technology.
A letter sent by the bank circulated on the Internet shows that 'through our technical monitoring, it is found that your company captures our information through the crawler program, but we have not signed the relevant written letter of authorization and consent with your company, or default that your company obtains the user's personal information from our system and business processing process.'
Zhao Ke, CFO of credit card, told sina finance that the company is operating normally and is understanding the specific situation. It is unclear whether the person taken away by the police is an employee of the company, and a formal announcement will be issued later. Zhao Ke also said, 'if you can call me, it means that we are still normal.'
However, it was also reported on the microblog that CEO sun Haitao had been taken away to assist in the investigation.
Company emergency suspension
The latest announcement says so
On the afternoon of October 21, 51 credit card announced that the trading of the company's shares had been temporarily suspended from 1:50 p.m. on October 21.
Before the suspension, it was reported at HK $1.77, down 34.32%, with a turnover of HK $88.71 million and the latest total market value of HK $2.1 billion. The stock once fell more than 40% to HK $1.58, a new low price for listing.
According to the credit card announcement, concerned about the rumors about the company in today's social media, in order to fully protect the interests of investors and ensure the fairness of information disclosure, the company hereby announces as follows:
The company would like to emphasize that the business operation and financial status of the company remain normal and healthy. The board of directors of the company unanimously and severely condemns such acts of creating false rumors, and reserves the right to resort to legal recourse.
The company will provide shareholders and potential investors with the latest information on any further developments related to the investigation of the incident from time to time.