Late at night on July 4, the Shanghai Branch Bureau of the Hangzhou Public Security Bureau filed an investigation into the suspected illegal absorption of public deposits by Microloan (Hangzhou) Financial Information Service Co., Ltd (" Microloan Network "platform). At present, the case is being investigated in accordance with the law.
Police :" micro-loan network loan platform loan collection notice
After that, the police issued a Weibo urging borrowers who had borrowed through the micro-loan network and had not yet repaid the loans (hereinafter referred to as "platform borrowers ") to take the initiative to repay the loans.
To: Micro-loan (Hangzhou) Financial Information Services Co., Ltd.(" micro-loan network loan platform "borrowers
On July 4,2020, Micro-loan (Hangzhou) Financial Information Service Co., Ltd (" Micro-loan Network network loan platform)(hereinafter referred to as "micro-loan network ") was filed for investigation by Shangcheng District Branch of Hangzhou Public Security Bureau on suspicion of illegally absorbing public deposits. In order to protect the legitimate rights and interests of the vast number of lenders, the Office of the Leading Group for the Prevention of Financial and Network Loan Risk Disposal in Shangcheng District of Hangzhou City (hereinafter referred to as the "Disposal Office ") now cooperates with the public security organs to carry out the work of recovering stolen goods, and urges borrowers who have borrowed money through the micro-loan network and have not yet repaid the loan (hereinafter referred to as the" platform borrower ") to take the initiative to repay the loan. The requirements are as follows:
I. REIBER REQUIREMENTS
The collection work of 1. micro-loan network will be integrated into the overall disposal of the government. The original collection system, organizational structure and personnel will remain unchanged, and the collection work will be managed, supervised and directed by the government. Please the platform borrower consciously cooperate with the loan collection work, according to the requirements of this collection notice to actively return the loan.
2. in order to guarantee the legitimate rights and interests of the lender, the disposal office will start the law procedure in time according to the progress of the collection work, and investigate the law responsibility of the borrower for overdue repayment according to law. Platform borrowers if overdue repayment, will be included in the list of discredit, may affect the borrower's normal life consumption, daily travel, bank loans and other matters.
3. if the platform borrower refuses to fulfill the repayment obligation, maliciously evades the debt, after the collection still does not repay, is suspected to constitute the crime, the public security organ will punish severely according to law.
II. Repayment accounts
1. platform borrower's original repayment route remains unchanged;
2. micro-loan network repayment account by the government department unified supervision. For further information, you may call the telephone number 0571-85261776;0571-86716170.
It is hereby announced.
Shanghai Public Security Bureau
Office of the Leading Group on Financial and Network Loan Risk Management in Shangcheng District, Hangzhou
Withdrawal announced at the end of May
A nine-year-old P2P platform, the micro-loan network, announced on may 31 that it would no longer operate online loan information intermediary business.
Micro-loan network officials micro said, since the launch in July 2011 to date ,9 years of trust and support, along the way, together advance and retreat, we express our deep gratitude!
Based on the national policy and industry trend reasons, micro-loan network after careful study and decision, will withdraw from the network loan industry by June 30,2020, no longer operate network loan information intermediary business.
We hereby announce the following:
At the request of the lenders, after comprehensive consideration, the deadline for signing the capital management plan is 18:00 on June 9,2020, and the signing channel will be closed after the deadline.
The payment plan will be announced separately as soon as possible for the lender who has not signed the contract after the deadline for signing the capital management plan.
If you have any questions, please call 95783-2 or contact online customer service.
The micro-loan network was launched in 2011, focusing on the "financial vehicles" model, in November 2018 landed on the New York stock exchange listed trading, the stock symbol is "WEI"."
According to the data, the real controller of micro-loan network is Yao Hong, with a shareholding ratio of 60.11%; the second largest shareholder, Han Ding Yuyou, has a shareholding ratio of 15.54% through a wholly owned subsidiary, and the third largest shareholder is Deqing Jinxiu Management Consulting Partnership (limited partnership), with a shareholding ratio of 13.19%.
As of February 2020, the loan balance was 8.583 billion yuan, and the cumulative loan amount was 298.663 billion yuan, according to the data published on the website of Microloan Network.
Net profit fell 56.52% year-on-yea
The company reported net revenue of 3.358 billion yuan in 2019, down 14.2 percent from a year earlier. By business division, loan service revenue 2.955 billion yuan, the same period last year was 3.498 billion yuan. The decline in loan service revenue was mainly due to changes in accounting policies and a decrease in the amount of corporate loans and outstanding balances.
Other business revenue was 273 million yuan, up 44.1% from the same period last year. Net financial revenue was 145 million yuan, down 41.3 percent from a year earlier, mainly due to a decline in the company's balance sheet loan balance.
Microloan net profit for the year 263 million yuan, down 56%. diluted earnings per share of 3.60 yuan, down 67% from the same period last year.
In addition, the microloan network mentioned that the impact of the new crown pneumonia epidemic, the company in the first quarter of 2020 loans issued and loan balance were negatively affected. In response, the Network has taken a more cautious approach to managing its loan portfolio and is adjusting its business strategy to minimize the impact of the epidemic on its operations.
90%
After being listed on the NYSE on the evening of November 15,2018, Microloan became the second P2P listed company in Zhejiang after the Hong Kong listing of 51 credit cards.
At $10.50 a share on the same day, it reached its peak of $13.63/ shares in a month, and then went down unilaterally. Since March 5,2020, its share price has been hovering between $1~2. Analysts say companies with long-term shares below $1 will face delisting, micro-loan networks or risk of delisting, according to nyse rules.
As of the latest data, the market value is less than $100 million, leaving only $1.33 per share, which has fallen 90% from the peak.
