Jingdong white bar installment buy can be early repayment ? The development of the combination of industry and finance of Jingdong is largely influenced by the development of China's Internet finance, because China's Internet finance is springing up and developing rapidly, and under this tide, in order to its own development, Jingdong followed the trend and set up the Jingdong Finance. The development of Jingdong's e-commerce platform, the construction of the distribution system and the need for the development of the strategic layout of the Jingdong Group is also an important background for its development.
As of the mouth so far, it can be said that Jingdong has been China's largest self-supporting Internet e-commerce platform, Jingdong **** 120,000 merchants stationed, tens of thousands of self-supporting suppliers. Jingdong research data show that 89% of the merchants are in need of financing, but in the traditional institutions under the strict risk control system can not be realized, therefore, Jingdong need to seek a new financing channels to ensure the development of their platform business. The combination of production and financing force a style just right to solve this problem, both to solve their own financing problems and to ensure the development of the entire platform supply chain.
The study of Jingdong's integration of production and finance will inevitably lead to the study of Jingdong Finance, and the study of Jingdong Finance will inevitably lead to the study of Jingdong White Bar. Jingdong white bar can be said to be the Jingdong Group's earliest attempt to enter the financial business. At that time, the ant gold service "flower sigh" has not yet launched, in a competitive vacuum period after the launch of the Jingdong white bar market demand was immediately stimulated. The financial business of the Jingdong Group has achieved rapid development, laying the foundation for the development of Jingdong Finance.
Jingdong Group obtained the license of China's virtual operator in 2013, Jingdong to its e-commerce platform to provide merchants with micro-credit loans, running water loans, joint-insurance loans, note cashing, accounts receivable financing, domestic and foreign factoring business and other financial services, formally opened the door to its integration of industry and finance.
Beingdong Group carried out a formal spin-off reorganization in 2014, under which two sub-groups, namely Jingdong Mall Group and Jingdong Financial Group, were established. At this point, Jingdong Finance is officially independent, Jingdong Group embarked on a new journey of integration of production and finance.
Beingdong's financial business was transferred to the Jingdong Financial Group, the main business scope involves (Jingdong financial mouth before the main business scope can be summarized into two major areas, namely, supply chain finance and consumer finance, the main products for the Jingdong White Stripes, Jing Baby and Jing Xiaolong, the specific business involves the third force - mobile payment, microcredit business, stocks, funds, wealth management and other forces side). Now Jingdong Group has developed into a mature multi-level integration of industry and finance group of companies, and Baidu, Ali, Tencent and known as the "BATJ" four Internet giant companies.
Beijing East Group's production and financing mode is mainly through the consumer finance and supply chain finance, which supports the whole structure of the combination of production and financing of Beijing East. C1> consumer finance analysis. On the consumer finance side, Jingdong Group supports consumers' purchasing behavior through the consumer finance products constructed by Jingdong Finance, thus forming certain consumer claims, which are further securitized through the issuance of consumer bonds.In October 2015, the consumer finance product of Jingdong Finance Company - Jingdong White Bar Asset Securitization Product - was successfully listed on the Shenzhen Stock Exchange. Listed on the Shenzhen Stock Exchange, it is China's first financial product based on account receivable claims of Internet consumer finance assets. The overall period of the product is now 2 years, and the model adopted is the "12+12" model, with the first 12 months known as the revolving purchase period and the last 12 months known as the principal and interest amortization period. On the repayment side, the preferred is paid out quarterly during the revolving period.
C2> Supply chain finance analysis. In the supply chain finance force side, China has had a long development, can be traced back to the Shenzhen Development Bank's "l + N" model, and gradually set off a wave in the country. Jingdong Group formally set up a supply chain finance department in 2013, and at the end of the same year, "Jing Xiaolian" was on line, which is essentially a factoring financing product, and then put forward accounts receivable financing, order pool financing, single financing and other financing modes, which greatly enriched the connotations of the supply chain finance force side of the financing force. Connotation. Jingdong Finance's supply chain financial system relies on the upstream and downstream business of its commercial platform, and takes the transaction data of the Jingdong platform as the credit basis, which has enabled Jingdong Group to successfully reduce the cost of enterprise funds, ensure the internal circulation of funds, improve the efficiency of the use of funds and turnover rate, and promote the sustainable development of enterprises.
Jingdong Group has established a multi-level risk management and control system from top to bottom with full participation of all staff, and has achieved the effect of risk management and control from macroscopic to microscopic through the mode of "top-level design and staff implementation". Moreover, based on its powerful data platform, Jingdong Group has formed a risk control mechanism centered on a large amount of Internet data, and risk analysis and control can be carried out at any time according to the enterprise's daily operation data, which has truly established a multi-level risk warning mechanism from pre-credit, credit, and post-credit. Once a new risk point is found, you can react quickly and formulate a corresponding risk response strategy, evaluate and verify the operational data, and make adjustments continuously and in a timely manner, so that you can discover and dispose of risks in a timely and effective manner.
When shopping on Jingdong Group's open platform, consumers can selectively use Jingdong White Bar's force one type of payment settlement, the use of Jingdong White Bar makes Jingdong will get the receivable and the related service fee, if there is a default can also get the default fee. So, in a way, the essence of jingdong white bar is actually jingdong open platform to sell goods when the accounts receivable. Because of this, the expanding scale of the use of Jingdong White Bar and the continuous rise in business volume have caused the rapid growth of Jingdong's accounts receivable. Mouth While the accounts receivable port and current assets port of Jingdong Group have undergone rapid improvement, the proportion of its accounts receivable port in current assets port has shown an increasing trend. Therefore, the Jingdong white bar business has a direct impact on the increase of Jingdong Group's accounts receivable account, which leads to the expansion of current assets.
But for Jingdong, the huge accounts receivable caused by Jingdong's capital occupancy, belonging to the precipitation funds, a force one side of the amount of such a large amount of accounts receivable so that Jingdong lost a lot of time value of money; another force one side, such as a large number of defaults on accounts receivable, resulting in an increase in the rate of defaults, the Jingdong Group accounts receivable of bad debts will be a substantial increase in the normal operation of the enterprise, which will have negative effects to the enterprise itself, and the normal operation of the enterprise, and the bad debt will increase. Negative impact on the enterprise itself, and how to revitalize this precipitated accounts receivable, reduce the risk of bad debts let Jingdong embarked on the road of asset securitization.
The role of Jingdong White Stripes securities securitization effect is obvious, for Jingdong revitalization of accounts receivable has irreplaceable significance, Jingdong White Stripes asset securitization makes its part of the precipitation of funds revitalization, accounts receivable to get a rapid realization, improve the efficiency of the use of corporate funds, promote the improvement of the company's financial situation, enhance the operational capacity of Jingdong, is conducive to reducing business risks, and promote the long-term sustainable development of the enterprise. Long-term sustainable development of the enterprise.
The core of the risk control of Jingdong Finance is the quantitative analysis risk control model based on big data platform, to a certain extent, the solution is the problem of enterprise financing difficulties, but it has a fairly high degree of dependence on the computer network science and technology, especially on the quantitative analysis of big data, which gives rise to an over-reliance on science and technology and data analysis of the risks brought about by the over-reliance. If faced with some innovative financial services or products, its data analysis and technical level of synchronous follow-up will be greatly challenged, easy to cause risk control loopholes, at the same time, its big data platform has closed characteristics, resulting in the information it holds is only online transaction data and some behavioral data, and can not be completely true to reflect the reality of the situation and the possibility of risk. This requires Jingdong Group to continuously improve its credit system, expand its data sources, strengthen the data and credit cooperation with the industry, strengthen the monitoring of the platform data, expand the sources of data, and further improve the reliability and authenticity of the information in the system.