Zhang Yida organized an unprecedented merger and acquisition in Southeast Asia, and at the same time, the domestic P2P industry also ushered in its darkest moment.

In June alone, hundreds of platforms either closed down or ran away, with an average of three or four collapses a day, including many well-known tens of billions of platforms.

In the past few years, it has not been without the collapse of platforms, but most investors have taken it for granted.

After all, this industry is close to money, and the entry threshold is also low, and many wealthy bosses invest a few millions, buy a set of systems, and recruit a few program apes to start bidding.

The funds raised are either used for their own other businesses, or used to speculate in stocks and land.

Of course, there are also some bosses who enter the market with the idea of making a fortune and running away from the beginning.

These people died the fastest, after all, most of the Pon's lasted a few months and could not do it, and the life span that would be advertised might be longer.

This round of bankruptcies has exceeded investors' imagination and is far more ferocious than any previous year.

Panic is also contagious, and Yimin Wealth Management, a subsidiary of Yimin Netfinance, and Ruimin Wealth Management, a subsidiary of Ruixin Group, have also been greatly impacted.

Affected by this news, the Chinese concept stocks of mutual funds listed in the United States plummeted.

Yimin Netgold fell more than 10% at the open, with its share price falling to $14 and a market value of about $3.5 billion, down more than 44% from the IPO price of $25 and more than 75% from its peak market value of $12 billion.

Yimin wealth and Yimin loans also declined, but not as serious as Yimin Net Finance.

Yimin Netfinance was once listed under the name of "the first share of mutual finance" and "the first share of P2P", which has accumulated a lot of prestige and saved a lot of advertising costs.

But when the industry collapses, it is also the one that bears the heaviest backlash.

It has been almost three years since Yimin Netgold was listed, and except for Zhang Yida, the founder, and Fan Hongyang and Ding Siyao, the two co-founders, the other venture capital shareholders have basically cleared their stocks.

In the past three years, Goldman Sachs has deliberately raised the stock rating of Yimin Netgold, just to facilitate shipments.

Zhang Yida personally cashed out, and the time was mainly concentrated last year, when the market value of Yimin Wangjin was as high as 10 billion US dollars.

Through multiple rounds of reductions, transfers, stock issuances and other means, nearly $340 million has been cashed out.

Before going public, it also transferred 9% of the shares to Goldman Sachs and took $200 million.

Fan Hongyang and Ding Siyao also reduced their holdings and cashed out tens of millions of dollars respectively.

Through the IPO and additional issuance after listing, coupled with a steady stream of operating profits generated in three years, the book cash once exceeded 2.55 billion US dollars.

After spending $1.1 billion on the acquisition of Gem Bank, there are still more than $1.45 billion on the books.

To deal with this sudden crisis, having money in the account is the greatest confidence.

As the CEO, Fan Hongyang has spoken out many times through public channels, appeasing investors, and at the same time, he has also taken out the net worth of Yimin Netgold.

The 55% stake of Gem Bank, also known as Yimin Bank, is worth US$1.1 billion, and the equity of Xinrui to the group is worth more than US$40 million, with cash reserves of US$1.45 billion......

Although the trick is a bit vulgar and not the first time it has been used, it really works, and the emotions of investors quickly calmed down.

You can not believe in these assets, but can they still not believe in Zhang Yida, the richest man?

Compared with the calmness of Yimin Netfinance, Ruixin Group's Ruimin Wealth Management is much more busy.

Because it was not listed, Ruimin Wealth Management did not cut any leeks and did not reserve a large amount of cash.

And because most of the funds are provided to the two cooperative companies of Yimin Wangjin's "Yimin Puhui" and Yimin Loan, its own "Xinglong Loan" belongs to supply chain finance, which has developed very slowly and has not made much money.

In addition, Ruimin Wealth Management has always been dependent on the development of Huimin Travel, and after the latter was sold to Didi, although there are contractual constraints, the cooperative relationship is still maintained.

But Chen Wei is not Zhang Yida, and Ruixin Group is not his own son.

Soon after this wave of thunderstorms, Didi felt the crisis.

Because of the Zhengzhou flight attendant incident in May, Didi suffered a lot of negative and was criticized by the society, so she became very sensitive.

Now "deposit financial management" has become a time bomb around me, and I don't know when it will explode.

Chen Wei called Zhang Yida urgently, and he was very anxious on the phone, and asked Zhang Yida: "Tell me the truth, where did the funds raised by Ruimin Financial go?"

Are you sure that all of them have flowed to the three platforms of Yimin Puhui, Yimin Loan, and Xinglong Loan?"

In normal times, Chen Wei would definitely not be in such a hurry to get angry, and he would ask interrogation-style questions when he came up.

But the situation is urgent, and he can't care about these false courtesies.

If Zhang Yida really embezzled some of the funds and went out to invest everywhere, he couldn't imagine the consequences.

Huimin travel may be directly wasted, and the people will be regarded as a big liar, and even the deposit will be cheated.

Didi will also be jointly and severally liable, the brand will be damaged, and no matter how serious it is, it is possible that years of hard work will come to naught.

When Chen Wei asked him this, Zhang Yida also felt very funny, and replied: "Do you think I am short of money? Will I use that kind of high-cost funds?"

I'll just put some news out, and the family office and all kinds of wind investment instincts will line up from Zhongguancun to Xiong'an, and I'll be there?"

Zhang Yida's soul question calmed Chen Wei down, and thinking about it, this is indeed the case.

Zhang Yida is the darling of the capital world, and raising some funds is as simple as eating and drinking, so he shouldn't engage in those little tricks.

Besides, Ruimin Wealth Management is only a large volume, tens of billions of yuan.

It sounds like a lot, and if you really want to embezzle, you don't dare to embezzle it all, and you have to keep a large part for turnover.

"Yida, I'm sorry. I was a little excited just now, you understand, Didi has encountered too many problems recently, and people's nerves have become sensitive. ”

Zhang Yida knew what the "problem" Chen Wei was talking about, and he didn't meddle in things, and it was not his turn to point fingers at Didi's development direction.

"The P2P industry is going to break the sky, in just one or two months, hundreds of platforms have collapsed, involving hundreds of billions of funds. ”

Speaking of this, Chen Wei asked again: "You are a good spirit, do you know what kind of attitude it is?"

Of course, Zhang Yida knows what attitude is, that is, one size fits all.

But listening to Chen Wei's meaning, it seems that he has something to say.

Zhang Yida said quietly: "I don't know yet, I will return to China soon, and I heard that a meeting will be organized above." ”

Chen Wei thought for a while and said: "Then you have to convey the spirit of the meeting to me as soon as possible, Ruixin Group and Didi are also strategic partners."

If there are any situations and difficulties, we can discuss and solve them. ”

Zhang Yida knew that Chen Wei was still not worried about the tens of billions of deposits for financial management, and said with a smile: "No problem, don't worry too much, Ruixin and their companies are fine."

As long as there is no problem on the asset side, there will be no gap in the redemption of the capital side. ”

Zhang Yida said so, and Chen Wei didn't want to ask any more.

Originally, according to his intention, he wanted to directly stop the deposit wealth management business, but because there was an agreement in advance, he did not dare to take the initiative to breach the contract.

After hanging up Chen Wei's phone, Zhang Yida had a video call with Fan Hongyang and Fang Yuhan remotely to learn about the latest situation of the two companies.

Zhang Yida still decided to return to China, and he handed over the matter of Grab to Lan Lan, who had just arrived in Singapore, and she was responsible for continuing to follow up.