On Monday, the country's largest traditional financial newspaper, the Financial Times, CCTV's most famous financial commentary program, and the financial channels of major traditional and modern media almost all used front-page headlines to report on a takeover case in the domestic financial market in the first time.

Huayuan Financial Services Co., Ltd., a wholly-owned subsidiary of Zelianke Co., Ltd., invested more than 600 million yuan to subscribe to the registered capital of Tianhong Fund of 222.3 million yuan at a ratio of 3.14 yuan to 1 yuan.

At this time, the registered capital of Tianhong Fund was 440 million yuan.

In other words, Huayuan Financial Services Co., Ltd., after this round of subscription, holds 51% of the equity of Tianhong Fund and becomes the largest shareholder of Tianhong Fund, the owner in the real sense.

After the acquisition, the original three major shareholders of Tianhong Fund carried out a large number of reductions, Jinmen Trust, Inner Mongolia Junzheng Energy and Chemical Group, Wuhu High-tech Investment three major shareholders, the total shares of the remaining 39%, by selling the equity in hand, to achieve more than 1:3 cash, not only to recover the previous investment, but also slightly profitable, and to retain part of the Tianhong shares.

In addition, Huayuan Financial gave the management of Tianhong Fund an incentive equity of 10% for the first time.

Although in last year's reform, the provision that 'senior executives of fund companies are not allowed to hold shares' was revised, in fact, in fund companies, most of the management are professional managers, and they generally receive annual salaries and dividends.

Zhao Zejun, who finally made the final decision in the practical sense this time, broke this rule and exchanged 10% of the equity for the smooth transition of Tianhong Fund, completely pocketed the talent team of this fund, and completed the actual acquisition in the legal sense and the connotation of the company.

On the side of Tianhong, after the change of the company's equity structure, Zhao Zejun became the new chairman, and Guo Shuqiang still retained the position of general manager, announcing that he was busy with post-merger matters and would not accept interviews for the time being.

In the end, Bao Heping, chairman of Huahai Securities, who was still connected between Tianhong and Zelianke, accepted an interview with the media by phone.

It is said that this cooperation with Tianhong, Zhao Zejun after a long time of research, according to the actual situation of the Internet selected Tianhong, Tianhong and Zelianke, there is a rare tacit understanding, whether it is in the initial change channel to launch the Yu Bao Profit Fund, or in the acquisition negotiations, the two sides almost hit it off, the process is very smooth.

"This is good for both parties, and it is a win-win situation for customers, Tianhong and Zelianke. At the same time, with Yu'e Bao, it is expected to enter the top ten fund companies in the country at the end of the year and achieve stable profits. ”

Bao Heping's "really stepping into" the financial market is not an adjective.

Through the previous Yu'e Bao and this acquisition, Tianhong Fund, which was originally unknown, officially entered the field of vision of the financial circle and the Internet circle.

At this time, it was discovered that this small company, which is losing money every year, has complete qualifications that many medium-sized funds do not have, and it can be said that after the acquisition of Tianhong, Zelianke has an "all-round license" to enter the financial industry.

Previously, Zelianke itself belonged to an Internet company, and although its Huayuan had a small loan business, it could only be said to be on the edge of the non-mainstream in the financial circle. After the acquisition of Tianhong, Zelianke's current layout in the financial industry already has five major financial forms of banks, insurance, funds, securities, and trusts.

Even some industry insiders analyzed that it is not ruled out that Zhao Zejun may directly join the brokerage company in the next step.

"The previous so-called Zezi system was just a local name in southern Jiangsu Province. According to common sense, only a group company or consortium that has achieved an industry status in the financial market is qualified to truly call it a 'department', and this acquisition, although there is no obvious change in the assets of the Zezi system, has become a chaebol recognized at the national level. The Financial Times commented.

"Competition is the greatest driving force for development! Throughout every leap and bounds of development of the Zezi system, it is inseparable from competition, and it is in the competition that the transformation has been completed. This time is even more so, starting from the third-party payment market, with a market share of only about 5% of Zepay, challenging the industry hegemon Alipay, attracting Taobao's theoretically largest competitor JD.com, and then entering the financial market strongly. As a result, the market share of Zepay has exceeded 20% and continues to grow, and Danzig has not only achieved a beautiful victory in the third-party payment market, but also entered the financial industry one step ahead of all Internet companies. The Daily Financial Review said.

"It's hard to imagine that a young man who has never set foot in the financial industry, hasn't even finished college, and doesn't have any background, can complete this step-by-step, well-organized layout. Afterwards, from an outsider's point of view, we can find that the third-party payment market is only a focus, and Zhao Zejun takes this focus as the center to march into the larger financial market. From this point of view, the height and broad-sightedness of Zhao Zejun surpassed Alibaba, and he achieved 'comprehensive encirclement, roundabout strikes and dimensionality reduction strikes' against Alibaba. "China Finance and Economics wrote a personal long article commentary specifically for Zhao Zejun.

It's not about you, you can analyze the comments from an objective point of view, but when it comes to your own interests, it won't be so easy.

In terms of Alibaba, Ma Yun has been very popular recently.

In previous internal meetings, the entire Alibaba reached a consensus of thought: in the competition between Alipay and Zepay, it is impossible for Zepay to surpass Alipay, but as long as it gains more than 10% of the market and rises to a level with Tenpay, it is equivalent to Alipay losing this game.

Now, Zepay is not only more than 10%, but has steadily broken 20%.

There are successful cases of Tianhong Fund there, and it is said that there are already other funds and financial companies that are interested in launching new cooperation with Zelianke.

According to the current development momentum, it will not take more than a year to reach 30% or 40%, which is not impossible.

Ma Yun herself even suspects that it may not take a few years for more and more financial products to be launched with the development of JD.com, and the market share of Zepay can compete with Alipay.

The so-called 'share' of third-party payment software is not a completely exclusive data, and the 'share' of all payment software, taken together, must exceed 100%, but the user's funds, time, and resources are limited, and each more choice will inevitably affect the interests of other payment platforms used before.

Ma Yun began to consider that Alipay imitated Zepay and cooperated with the financial field.

Ma Yun is not the only one who has such considerations.

Tencent's Ma Huateng has also been looking at financial markets recently. 8)