Focus Small Loan This company is a small loan company under Focus Media. Its main loan targets are small and medium-sized enterprises and private owners, and credit loans can also be issued to individuals. In the third quarter, the gross profit margin increased by 2. 19% to 72.28% year-on-year, which was mainly due to the effective control of media resource rental costs, labor costs and other costs. In the third quarter, the expense ratio decreased by 3.35% year-on-year, mainly due to the strict control of sales expenses (sales expenses are the main source of the company's three expenses), and the sales expense ratio decreased by 2.97% year-on-year; At the same time, the company's financial expenses decreased by 46% year-on-year, benefiting from the double impact of the increase in bank wealth management interest rates and the increase in monetary funds for investment wealth management products.

In addition, Focus Media also disclosed that under the above-mentioned loan assistance mode, in addition to the risk control audit, when the user cannot repay the bank principal and interest on the agreed date (due date and three days after the grace period), Shunhe Information will pay the bank principal and interest receivable on behalf of the customer and collect it from the customer. May cause cooperative financial institutions to outsource core risk control services such as credit evaluation, which does not meet regulatory requirements? Wang Shiqiang said. With the tightening of supervision, it is urgent to change the repayment method. What's more, affected by the epidemic, Shuhe Technology lost as much as 257 million yuan in the first quarter. The net profit in the same period last year was 4,654,380,842,300 yuan, down 765,438+04% year-on-year.

Focus Media disclosed that Shuhe Technology intends to transfer the equity of Chongqing Focus Microfinance Co., Ltd. (hereinafter referred to as Focus Microfinance) 100%, a wholly-owned subsidiary of Focus Media, at a price of US$ 50 million. Focus Media said that this move is conducive to integrating the company's superior resources in the field of Internet finance, which is in line with the company's strategic planning and long-term layout in related fields. According to the announcement of Focus Media and Focus Microfinance, the initial investment cost of the company's investment is about 436 million yuan. After the equity transfer and capital increase of Focus Media, the remaining equity of Focus Media will be re-measured at fair value on the day when it loses control. Focus Media expects to realize pre-tax investment income of about 7 1 100 million yuan, and after deducting income tax, the impact on Focus Media's net profit is about 530 million yuan.

Set Technology was established in August 2005+2065438, and it is one of the earliest financial technology companies in China to serve the online consumer credit needs of credit card users. 20 16, 1 month, Focus Media invested 6,543.8 billion yuan, accounting for 70%. Subsequently, Sequoia Capital, Cinda Hongkong, noah wealth, Sina and other shareholders made presentations. 20 17 Focus Media transferred the equity of Chongqing Focus Microfinance to Shuhe Technology, and Shuhe Technology obtained the Internet Microfinance License.