Real -concealment, since May 1st, Observation Jun has been considering a question, or a question similar to soul torture: Are you behind the waves? Still the front wave?

Now think about it, this problem is actually not important, but the key is that even those who observe such a slowness of the monarch pay attention to this new word, which is enough to show how hot it is.

However, today, what I want to talk about is a “Houlang” company in the field of fintech -finance one account. I believe many people have heard of it, and they are also a self -proclaimed infrastructure track. The company, he just disclosed a quarterly report.

For the whole quarter report, the feeling of observing the monarch is that although the data looks very good, the observation Jun who has always been stabbing is the old problem of financial one account. How can I break the circle?

Four highlights

Old rules, before analyzing the first quarterly report, still have to look at the highlights of others. After all, due to the epidemic, you can achieve such performance and observe that you feel that it is really not easy.

From the perspective of the first quarter report, observe Jun to combine it carefully, there are about the following highlights:

The first one, revenue rose 30 %. Data show that the financial revenue in the first quarter was 581 million yuan, an increase of 29.6%year -on -year, of which high -quality customers from third parties contributed 46.4%of their revenue.
Observation Jun found that at present, the financial one account has two major business segments: the plan’s execution revenue is 139 million yuan, a year -on -year increase of 47.8%; the transaction -based revenue and support service revenue is 441 million yuan, an increase of 24.7%year -on -year.

Second, the net loss is flat year -on -year. The first quarterly report showed that the net loss of the quarterly account of the financial one was 414.7 million yuan, which was almost the same as the net loss of 415.2 million yuan in the same period last year. To be honest, the loss of financial accounts has always been the focus of observing Jun’s attention, because it is a technology company, and the investment is naturally large.

Third, the gross profit margin improved. In the first quarter of 2020, the gross profit margin of financial one account was significantly improved. Compared with the same period last year, it increased by 6.3 percentage points to 34.8%. During the epidemic, it was precious to achieve such performance.

Fourth, the performance of operating products is eye -catching. The epidemic emergency, the “zero contact” ability became the first choice of customers, and the incremental increase in operating products in the first quarter. According to the financial report, in the transaction income, the income of operating products increased by 148%year -on -year, and the proportion of revenue increased from 15%to 28%. “Explosive” products include AI customer service and intelligent rescue.

Regardless of whether you say such a quarterly report, the performance of financial one account is still good.

New track

However, for financial one account, the first quarter report data is really good, but it is not worth showing off. Because a new track has opened.

The name of this track, I believe many people have heard of it, and observe the Jun again, which is “new infrastructure”.
Different from the old statement, new infrastructure mainly includes the progress of new infrastructure construction such as 5G networks, artificial intelligence, cloud computing, and blockchain, which has become the key direction of the development of the national industry.

Let’s understand, right? Although it is called a new infrastructure, the concept is completely different.

In the first quarter report of Ping An Group, the introduction of financial one account is very clear: China’s leading business technology cloud service platform The plan will integrate the rich financial service industry experience with the leading science and technology, and help financial institutions to achieve digital transformation.

Obviously, finance is already a member of this track.

The good news is that the scientific and technological investment of traditional banks is increasing. According to the annual report data, in terms of capital investment, the proportion of financial/information technology investment in the six major banks accounted for more than 2%of the bank’s operating income. Among them, Construction Bank invested the capital of six major banks with a capital investment of 17.633 billion yuan. In 2019, the total investment of the six major banking technology/information exceeded 70 billion yuan.

In addition, China Merchants Bank, CITIC Bank, Everbright Bank, and Pudong Development Bank have a higher proportion of investment and urban commercial banks. Among them, China Merchants Bank Bank’s information investment in 2019 is 9.361 billion yuan, accounting for as high as 3.72%, while Pudong Development Bank technology also invested 4.12 billion yuan last year.

Of course, there are many competitors, and it is very strong. This should be a bad news.
For financial one account, there are both opportunities and challenges in front of them.

Breaking circle

Okay, after talking about the highlights and the environment, observing the focus of the priority, paying attention to the financial one account for so long, every time I read his financial report, I will have different thoughts and gains to observe that this time Let me share with you that the financial one account that really achieves a circle, three things that must be done:

The first one is no longer relying on the backing of Ping An. This is also a common talk that the development of finance is still inseparable from the support of the safety department. Although the proportion of third -party customers has risen, it is undeniable that the support of the Ping An Department is still the big head. From the specific source of income, in the first quarter of 2020, the revenue from Ping An Group and Lu Jin was 228 million yuan and 83 million yuan, respectively, with the corresponding year -on -year growth rate of 11.1%and 30.5%, while from third -party customers, from third -party customers The income was 50 million yuan, an increase of 50.4%year -on -year, exceeding the overall growth rate, which is very happy.
However, the Ping An Department contributed 53.5%in the total revenue of financial one account during the reporting period. In the same period last year, this proportion was 60%. The “breaking circle” problem for many years has not been solved.

Second, the company turned to profit. Although the revenue rose nearly 30 %, the data of net profit was still losing money. In fact, it is not difficult to understand. As one of the representative platforms of science and technology business, the system and personnel have a large investment itself. For this At one point, although there is no detailed data disclosure, at the end of last year’s performance communication meeting, relevant executives of Ping An Group also confirmed the fact that the facts of losing money were confirmed. Attention.

Third, expand new customers. In 2019, the number of high -quality customers in financial one account increased by 114%, with a total number of customers reached 3707, covering all mainstream banks in China, 99%of the city commercial banks and 52%of insurance companies.

Overseas markets have also blossomed more. As of the end of March 2020, financial one account has developed 16 markets overseas, including Singapore, Indonesia, Thailand, Japan, South Korea, Germany and other countries. In the first quarter of this year, two new projects in Indonesia and Abu Dhabi were launched with credit reporting models with the Indonesian credit reporting agency and cooperated with Abu Dhabi International Financial Center to cooperate with the “Digital Lab”.

Financial One accounting third -party revenue accounted for steadily increased: the proportion of third -party customers’ income in the first quarter of 2020 accounted for 46.4%, the data in the same period in 2019 was 40%, and 44%in the fourth quarter of 2019 was 44%. This fully shows the customer’s recognition and stickiness of the customer.

However, after the outbreak of the epidemic, given the limited overall budget of the city commercial bank, the key expansion of customers in the next step of the financial account is definitely a stronger joint -stock bank, but the requirements of such banks are often higher and face it. The strength of competitors must also be stronger, such as Ant Financial, Tencent Fintech, JD.com, etc., so the pressure on pioneering is undoubtedly greater.

Benyong, will the financial accounts be the “back wave” that everyone expects?