Data falsification interferes with the central government’s judgment, and China launches the most severe crackdown
Interest income continues to decline, and non-interest income turns from increase to decrease. Ping An Bank's net profit in 2025 is still under pressure.
The 2025 annual report of Ping An Bank (000001.SZ) disclosed on the evening of March 20 showed that the bank’s operating income and net profit (net profit attributable to shareholders of the bank, the same below) last year continued to decline by 10.4% and 4.2% year-on-year. Compared with the previous year, the decline in the bank's operating income last year slowed down, while the decline in net profit was basically the same.
The reduction in the loan market prime rate (LPR) and the contraction of interest income caused by insufficient effective demand are still the main factors affecting revenue and profits. Last year, the bank's net interest income and non-interest net income fell by 5.8% and 18.5% respectively year-on-year.
However, positive factors have emerged. Last year, the bank's net interest margin fell by 9 basis points, a sharp 42 basis points narrower than the decline in 2024. The retail business, which has been in the throes of adjustment in recent years, has also shown signs of stabilizing, and its net profit has increased significantly compared with the previous year.
Interest spreads narrowed
Annual report data shows that as of the end of 2025, Ping An Bank's total assets were approximately 5.93 trillion yuan, a year-on-year increase of 2.7%; its deposit and loan balances were 3.58 trillion yuan and 3.39 trillion yuan, respectively, a year-on-year increase of 1.4% and 0.5%.
Compared with the previous year, the bank's operating income last year still declined, but the decline narrowed, while the decline in net profit was basically the same.
Last year, the bank achieved operating income of 131.44 billion yuan, a year-on-year decrease of 10.4%; net profit was 42.63 billion yuan, a year-on-year decrease of 4.2%. In 2024, the bank's revenue and net profit dropped by 10.9% and 4.2% respectively.
The year-on-year decline in revenue and profits was related to the decline in non-interest income. For the whole of last year, the bank's non-interest net income was 43.421 billion yuan, a year-on-year decrease of 18.5%. In the previous year, this figure was 53.268 billion yuan, a year-on-year increase of 14%.
The largest decline was in other non-interest net income, with a total scale of 19.527 billion yuan, a year-on-year decrease of 33%. Ping An Bank explained that this was mainly due to the decline in non-interest net income from bond investment and other businesses due to market fluctuations in 2025. Among them, the largest decrease was the gain and loss from changes in fair value, which was a floating loss of 2.518 billion yuan, a year-on-year decrease of 181.1%.
Compared with non-interest income, the factor that has the greatest impact on performance is still interest income. The annual report shows that for the whole of last year, the bank’s interest income was approximately 169.86 billion yuan, a year-on-year decrease of 14.4%. Among them, deposit interest income was 130.5 billion yuan, a year-on-year decrease of 15.4%. This resulted in the bank's net interest income last year falling 5.8% year-on-year to 88.021 billion yuan.
The main reason for the decline in interest income comes from the narrowing of interest spreads. In 2025, the bank's average loan yield will be 3.87%, a year-on-year decrease of 67 basis points, of which the average corporate and personal loan yields will be 3.05% and 4.79%, respectively, a year-on-year decrease of 51 and 77 basis points.
In this regard, Ping An Bank explained that this is because the bank has increased credit support for key industries, regions and customers, increased the proportion of high-quality customer groups, and driven the continuous optimization of customer group structure and asset structure; secondly, due to the decrease in the loan market quoted interest rate (LPR), coupled with the lack of effective credit demand, the interest rate of new loans continued to decline, coupled with the impact of factors such as interest rate adjustments and repricing of existing mortgage loans, the loan yield declined year-on-year.
During the same period, the bank's interest expenses in 2025 will be 81.84 billion yuan, a year-on-year decrease of approximately 23.1 billion yuan, a decrease of 22%. Deposit interest expenses fell from 72.3 billion yuan in the previous year to 59.4 billion yuan, a decrease of nearly 13 billion yuan, a decrease of 17.9%; the average interest payment rate of interest-bearing liabilities was 1.67%, a year-on-year decrease of 47 basis points; the average interest payment rate of deposits was 1.65%, a year-on-year decrease of 42 basis points, but both were lower than the decline in loan yields.
Under this circumstance, the bank's net interest margin and net interest margin also dropped by 0.09 and 0.07 percentage points year-on-year to 1.78% and 1.76% respectively.
The bank expects that in the context of asset repricing and support for the real economy, there will still be downward pressure on net interest margins, but the downward trend is expected to slow down. It will continue to strengthen asset and liability portfolio management, refine pricing management, and provide forward-looking guidance to mitigate the downward trend in interest margins. On the asset side, we will continue to allocate large categories of assets and encourage high-quality credit; at the same time, we will strengthen market research and judgment, flexibly and dynamically allocate interbank assets, and improve the efficiency of capital utilization. On the liability side, we focus on guiding the absorption of low-cost deposits, controlling high-cost deposits, and making every effort to control and reduce overall liability costs.
However, positive factors have emerged. The bank's net interest margin decline last year has slowed significantly. In 2024, the bank's net interest margin and net interest margin will be 1.87% and 1.83% respectively, a decrease of 0.51 percentage points and 0.48 percentage points compared with 2023.
Retail profits stop falling and stabilize
After more than two years of adjustments, Ping An Bank’s retail business performance has shown signs of stabilizing.
Annual report data shows that last year, the bank's retail business achieved operating income of 61.26 billion yuan, operating profit before impairment of 40.83 billion yuan, total profit of 3.22 billion yuan, and net profit of 2.68 billion yuan. Compared with the previous year, the latter two indicators increased by 2.864 billion yuan and 2.394 billion yuan respectively, a year-on-year increase of more than 800%, and their proportion in the total net profit increased from 0.6% to 6.3%.
Such changes are mainly due to the decrease in the scale of asset impairment. Last year, the bank's retail credit and other asset impairment losses totaled 37.57 billion yuan, a year-on-year decrease of nearly 11.2 billion yuan, and a drop of more than 22% from the previous year's 48.7 billion yuan.
In addition, the non-performing ratio of Ping An Bank's personal loans also dropped from 1.39% at the end of 2024 to 1.23% at the end of last year, a year-on-year decrease of 0.16 percentage points. In addition to operating loans, the non-performing ratios of personal housing mortgages, credit cards, consumer loans and other loans fell by 0.19, 0.32 and 0.23 percentage points respectively year-on-year.
Wealth management income in the retail business also saw considerable growth. Last year, Ping An Bank's wealth management fee income was 5.06 billion yuan, a year-on-year increase of 15.8%; of which, personal insurance agency income was 1.292 billion yuan, a year-on-year increase of 53.3%; personal financial management agency income was 1.287 billion yuan, a year-on-year increase of 8.8%; personal fund agency income was 2.290 billion yuan, a year-on-year increase of 8.9%.
The annual report shows that Ping An Bank’s asset quality continues to improve slightly. As of the end of last year, the bank's non-performing loan ratio was 1.05%, a year-on-year decrease of 0.01 percentage points; the non-performing loan generation rate was 1.63%, a year-on-year decrease of 0.17 percentage points.
During the same period, the bank's proportion of overdue loans also declined. As of the end of last year, the bank's focus on loans accounted for 1.75%, a decrease of 0.18 percentage points from the end of the previous year; overdue loans accounted for 1.34%, a decrease of 0.18 percentage points from the end of the previous year; the deviations of loans overdue for 60 days and more than 90 days were 0.67 and 0.56 respectively; the credit and other asset impairment losses for the year were 40.56 billion yuan, a year-on-year decrease of 17.9%.
Ping An Bank said that this was mainly due to the overall macroeconomic stability and progress. The bank continued to optimize its business structure, strengthened the collection of non-performing assets, achieved results in risk management and control of key large accounts, and reduced overall impairment provisions. Among them, the total amount of non-performing assets recovered was 36.798 billion yuan, including the principal of written-off non-performing assets of 19.11 billion yuan; and 97.2% of the recovery amount was cash recovery.
1. You can delete a single address bar record through the keyboard; 2. Clear all browsing history and cache in the settings; 3. Turn off the address bar search and association function; 4. Set the history to be automatically cleared when exiting, effectively managing the content of the 360 browser drop-down list.
If you find that unwanted browsing history or search terms are displayed in the address bar drop-down list when using it, it may be because the historical data has not been cleared in time or the relevant functions are turned on. Here's how to manage this content.
The running environment of this article: Pro 16, Windows 11
1. Delete address bar drop-down records one by one
This method is suitable for those who only want to remove specific historical access entries and retain other commonly used records. You can quickly locate and delete a single piece of content through keyboard operations.
1. Click the address bar at the top of 360 and wait for the drop-down list to expand.
2. Use the up and down arrow keys on the keyboard to position the cursor on the URL record that needs to be deleted.
3. Press the Delete key and the item will be removed from the drop-down list immediately.
2. Clear all browsing history and cached data
This method can clear a variety of online traces including address bar records at one time, and is suitable for users who want to comprehensively clean up their private data.
1. Click the menu button (three horizontal lines icon) in the upper right corner of the browser and select the "Settings" option.
2. In the settings page, enter the "Privacy and Security" or "Advanced Settings" area.
3. Click "Clear Browsing Data" or "Clear Internet Trace Settings".
4. In the pop-up window, select "All" for the time range, and check options such as "Browsing history", "Cache files", "Cookies and other website data".
5. Click the "Clean Now" button and wait for the system to complete the cleaning process.
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3. Disable the address bar search and association function
Turning off the association function can prevent new recommended words and search suggestions from appearing in the drop-down list, fundamentally reducing unnecessary prompt content.
1. Open 360 Browser, click the "three horizontal" menu icon in the upper right corner, and enter "Settings".
2. Find "Basic Settings" or "" related options in the left or upper navigation bar.
3. Find the function switch of "Address bar search shows associated words" or a similar description.
4. Uncheck this option and the system will automatically save the changes without manual confirmation.
4. Set to automatically clear history when exiting
After the automatic cleaning function is enabled, the specified browsing data will be automatically deleted every time the browser is closed, ensuring that the drop-down list does not accumulate records for a long time.
1. Enter the "Settings" interface of 360 Browser and select the "Privacy and Security" category.
2. Find the option "Automatically clear the following browsing history when closing the browser" and enable it.
3. Check "Browsing History", "Entered URLs" and other related items in the list below.
4. After completing the settings, the system will automatically perform cleaning tasks every time you exit the browser.
Shanghai’s mental health service model is innovated again. During the spring equinox, all things sprout. With the theme of "Nourishing the Four Seasons and Enchanting the Mind", an art therapy and popular science activity on the spiritual growth of children and adolescents was held at the Shanghai Theater Academy. At the scene, the city's music and art therapy standardization work was officially launched. This is one of the key measures since the establishment of the Shanghai Medical Doctors Association's Music and Art Therapy Special Committee.
This event brought together experts and scholars in the fields of medicine, art, education and other fields, and attracted nearly 300 primary and secondary school psychology teachers, educators and citizens from various districts to participate. As the vice president of the Music and Art Healing Committee of the Shanghai Medical Doctors Association, erhu performer Ma Xiaohui brings an immersive healing music performance, leading everyone to embark on a spiritual journey through music that blends medicine and art.
For a long time, due to the lack of unified standards in the field of art therapy, there have been problems such as superficiality and insufficient professional support. The launch of standardization construction will pave a professional channel for the development of art therapy, making art therapy truly an effective support for the mental health of children and adolescents. As the vice-chairman of the special committee, Wang Yong, dean of the Shanghai University School of Music, detailed the standardization work plan, making it clear that he will sort out international cutting-edge experience, take root in local Chinese practices, define standards for professional healing practices and skill levels, and gradually implement healing norms in the fields of music, dance, drama, calligraphy and painting, and promote art healing from perceptual experience to scientific intervention.
Professor Xu Jianguang, vice president of the Chinese Medical Doctor Association and honorary president of the Shanghai Medical Doctor Association, said that the integration of art and medicine has opened up a new path for protecting children's innocence. He called on all parties in society to gather forces to weave a warm network to protect the mental health of children and adolescents, and build a more complete mental health support system.
In order to adapt to the spiritual growth rhythm of children and adolescents of different ages, this event has four major chapters based on the four seasons. Targeting preschool children, primary school students, junior high school students, and late adolescent groups between 15 and 18 years old, doctors from many tertiary hospitals in Shanghai jointly bring a set of art therapy "demonstration courses".
Xie Bin, chairman of the Music and Art Therapy Special Committee of the Shanghai Medical Doctors Association, said that the core of art therapy is not to cultivate artists, but to allow children to become themselves better under the protection of art and build a bridge to the heart. "The special committee brings together professional forces from all fields in Shanghai to serve as both a professional supporter of children and adolescents' mental health and a warm lamplighter, using the light of art to illuminate the hidden corners of children's hearts."
This event is an important step taken by Shanghai in innovating its mental health service model. The Shanghai Medical Doctors Association's Music and Art Healing Special Committee stated that it will bring together "medicine" and "art" forces to promote art therapy into hospitals, campuses, and communities, so that professional healing services can become a new force in the construction of the city's "emotional economy."
On March 20, the Night of Friendship·Kong Xiangdong×NYU Shanghai 2026 Spring Sound Concert was played warmly at the Cadillac Shanghai Concert Hall. At the end of the performance, the audience ushered in the most touching moment: under the leadership of Kong Xiangdong, Chinese and foreign artists, young students on the stage and nearly a thousand audience members sang "The Same Song" in unison. The singing transcended language, regional and cultural differences and became the warmest resonance of the night, pushing the atmosphere to the climax.
As an important main performance project of the 41st Shanghai Spring International Music Festival, this concert is led by the famous pianist Kong Xiangdong and jointly performed by teachers and students of NYU Shanghai. It uses music to build a bridge for cultural exchanges between China and foreign countries and highlights the diverse charm of artistic education and urban culture.
The performance coincides with the 40th anniversary of Kong Xiangdong's stage career, integrating classic melodies with humanistic sentiments. Nearly 170 Chinese and foreign teachers and students from the NYU Shanghai Symphony Orchestra, Jazz Band, and Chorus presented on the same stage. The collision and blending of Eastern and Western musical elements not only demonstrated professional artistic standards, but also became a vivid practice of cultural exchanges between China and foreign countries, fully reflecting Shanghai's open, inclusive, and diverse international urban temperament.
The entire performance runs through the concepts of music aesthetic education and spiritual healing. Kong Xiangdong uses the sound of the piano to convey the warmth and power, integrating art appreciation, emotional expression and spiritual nourishment, bringing an immersive aesthetic education class to young students. The event continued the original intention of public welfare. 10 girls from the National Unity Demonstration Class of the No. 1 Primary School in Guangnan County, Yunnan Province, who were recipients of the AIA Friendship Charity Project, were invited by pianist Kong Xiangdong to form a choir and took to the stage to sing the Zhuang folk song "Water Hen". This song carries the Zhuang's millennium rice farming culture and entrusts their beautiful vision.
This concert uses art as a link to promote cultural exchanges and mutual learning between China and foreign countries, deepens the practice of music aesthetic education, uses a warm, emotional and powerful stage to demonstrate the soft power of urban culture, and injects impetus into the cultivation of young artistic talents and the popularization of social aesthetic education.
Today, as digital currency transactions become increasingly popular, it is crucial to choose a safe and reliable trading platform. As one of the world's leading digital asset trading platforms, OKX Ouyi has been favored by many investors for its rich trading varieties, professional security protection and smooth user experience. For new users, downloading and installing the OKX Ouyi App is the first step in starting a trading journey. This article will provide you with a detailed download tutorial for OKX Ouyi, covering mobile phones (iOS/Android) and computers, to help you quickly obtain the official application and ensure transaction security.
Must read before downloading: Why choose official channels?
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Mobile version download tutorial (iOS/Android)
Mobile phones are the preferred device for most users to trade OKX. The download process is as follows:
iOS users (iPhone/iPad)
Step 1: Open the App Store
Find the "App Store" icon on the device desktop and click to enter.
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Enter "OKX" or "OKX Ouyi" in the App Store search box, and be sure to look for the official developer "OKX Blockchain Technology Inc.".
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Find the official App in the search results, click "Get" or the cloud download icon, follow the prompts with Face ID or enter the Apple ID password to complete the download.
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Some iOS devices may need to trust enterprise-level applications in "Settings-General-VPN and Device Management", but the version of OKX listed on the App Store does not require this operation and can be used directly by opening it.
Android users (Huawei/Xiaomi/OPPO/vivo, etc.)
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After the download is complete, open the installation package. If the system prompts "Prohibit the installation of applications from unknown sources", you need to go to "Settings-Security-Unknown Source Applications" to turn on authorization (different brands of mobile phones have slightly different paths, for example, Huawei needs to turn it on in "Settings-Security and Privacy-More Security Settings").
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After the installation is complete, open the OKX App, register/log in with your mobile phone number or email to start using it.
Computer download tutorial (Windows/macOS)
If you are used to conducting trading analysis or operations on a computer, OKX also provides a professional computer client.
Windows users
Step 1: Visit OKX official website
Open your computer browser and enter the OKX official website.
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On the "Download" page of the official website, select the "Windows" version and click "Download".
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After the download is completed, double-click the installation package and click "Next" as prompted to complete the installation. After the installation is successful, double-click the desktop icon to open the OKX client, enter your account information and log in.
macOS users
Step 1: Visit OKX official website
Also enter the OKX Ouyi official website through the browser.
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Click the "macOS" button on the "Download" page to obtain the DMG installation package.
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Step 4: Open and trust the app
Find OKX in "Applications", right-click to open it (if the prompt cannot be opened, you need to allow "Apps from the following locations: App Store and Recognized Developers" in "System Preferences - Security & Privacy").
Must do after downloading: security verification and account settings
After completing the download of OKX Ouyi App, in order to ensure the security of your account, it is recommended to perform the following operations:
Bind two-factor authentication (2FA): Turn on Google Authenticator or SMS verification in the "Security Center" to prevent account theft. Set a complex password: Avoid using simple passwords and recommend a combination of letters, numbers, and symbols. Complete real-name authentication: Complete KYC authentication according to platform requirements to improve account transaction authority and security. FAQ
Q1: What should I do if it prompts "Cannot install" after downloading?
Q2: How to confirm that the downloaded version is the official version?
Q3: Are there any differences in functions between the computer version and the mobile version?
The core functions are the same, but the computer version is more suitable for in-depth transaction analysis (such as K-line charts, batch operations, etc.), while the mobile version is more convenient for checking market conditions and making quick transactions at any time.
Through the above tutorial, you can easily download and install the OKX official App. Whether it is a mobile phone or a computer, OKX can provide you with a safe and efficient trading experience. Always downloading the application from official channels is the first step to protect the security of digital assets. Download OKX now and start your digital asset investment journey!
Stepping on the red line!
How about saying that online loans are “deep”?
When you borrow money on my platform, it is clearly written on it. I will charge you a comprehensive annualized interest rate of less than ten points, and it will be credited to your account quickly. This opportunity is not to be missed, and the time will never come again!
But I won't tell you:
As long as you sign and the money arrives, the third-party platform will quickly deduct a "service fee", "membership fee", and "guarantee fee"... In this way, the comprehensive annualized interest rate can be directly doubled!
Although it sounds a bit "shady", there are quite a few online loan platforms that charge high "service fees" through third-party platforms.
A recent complaint brought 58.com, which had been dormant for a long time, to the public’s attention.
According to Tencent Finance, on the eve of March 15, some consumers reported that they did not click or check to activate membership.
However, in the early morning of February 19, 58 Haojiu, a subsidiary of 58.com, privately deducted 1,500 yuan from him through Shenzhen Oak Network Innovation Technology Co., Ltd. and Baofu to activate a one-month premium membership.
The money was deducted directly from the bank card he had reserved before. There was no confirmation in the whole process and I was completely unaware of it.
After finding out, he immediately contacted customer service to negotiate, but no one handled it for several days. When I received the message again, it turned out to be a text message: "The membership service has taken effect, and the cancellation failed due to the use of bonus rights."
The co-author didn't even give a chance to refuse...
Even earlier, on January 29, a user also said on the "People's Complaints" platform of People's Daily Online that he applied for two loans totaling 40,000 yuan through 58 Haojie. I have to say that the lending speed is really fast and the money arrives quickly.
But when he checked the bank statements, he was confused. As soon as the loan arrived, a sum of money was instantly transferred, and a full 3,000 yuan was deducted in two installments.
It was not the bank that transferred the money, but a third-party institution called "Shanghai Flash Network Technology Co., Ltd."
This means that he actually received only 37,000 yuan, but when he repaid the loan, he had to calculate interest on the principal of 40,000 yuan. In other words, each loan actually received 18,500 yuan, and the repayment was calculated as 20,000 yuan, and the comprehensive annualized interest rate rushed to 35.28%.
The annual interest rate advertised on the 58 Haojie interface is only 7.2%, which is nearly five times the difference between the two and far exceeds the upper limit of judicial protection stipulated by the state. It is not an exaggeration to say that it is a disguised loan shark.
Supervision has been strengthened
In fact, the problem of arbitrary charging of online loans has been criticized for a long time, but this year, it seems that supervision is coming for real?
Just a few days before March 15, the financial regulatory authorities interviewed five platforms: Fenqile, Qifu IOU, Youwodai, Yixianghua, and Credit Fei.
They are clearly required to standardize marketing promotions, clearly disclose interest and fee information, protect personal information, comply with collection requirements, and improve complaint mechanisms.
On March 15, the financial regulatory authorities went all out and issued a blockbuster new regulation - "Regulations on Expressed Comprehensive Financing Costs for Personal Loan Business", which targeted the "hidden charges" and "interest rate cover" in the online lending industry.
From "suggestion" to "mandatory", this time's new regulations are not empty words. The core is one: all fees must be transparent and cannot be hidden.
First, all costs are calculated together. Whether it is interest, service fees, guarantee fees, or membership fees, they must be added together to calculate the "annualized comprehensive financing cost."
Second, users must confirm their knowledge. Offline loans require signature confirmation, while online loans require a mandatory reading pop-up window and sufficient reading time.
Third, the scene is fully covered. Especially for online consumption installments, comprehensive financing costs must be displayed prominently on the payment page to prevent users from being misled by the guise of “low monthly payment” and “zero interest”.
Fourth, responsibilities must be extended. Lending institutions must manage their cooperative institutions, such as loan assistance platforms and guarantee companies, to ensure that their fees are compliant and transparent, and cannot pass the blame to third parties.
However, this time the new regulations will not be implemented immediately. A buffer period of nearly 5 months will be given and will be officially implemented from August 1, 2026. In the past five months, some companies have begun to make corrections, while others want to accelerate their performance. So 58 is easy to borrow, which one does it belong to?
You won’t know if you don’t check, but you’ll be shocked if you check.
As of March 19, the number of complaints about 58 Haojie on the Black Cat complaint platform has reached 37,582, which is more than 5,000 more than his hometown 58.com, and most of them focus on "arbitrary deductions."
As for 58 Haojie, do you want to take advantage of these five months to boost performance, or do you want to start making rectifications? At present, after 315, the phenomenon of "illegal deduction of guarantee fees" still exists.
On March 19, four days after the introduction of the new regulations, there were still users reporting on Black Cat Complaints that 58 Haojie illegally deducted guarantee fees through a third-party platform, and the interest rate exceeded the upper limit, requiring a refund.
The pressure is on 58.com
58 Haojie’s illegal operations were ultimately paid by 58.com.
Recalling that year, Yao Jinbo encountered a rogue rental agent right after graduating from college, and secretly made up his mind to create a platform so that rogue agents had nowhere to go.
But the ideal is very full, and the reality is very skinny. 58.com finally felt defeated by the reality.
Since its listing in 2013, 58.com’s revenue growth has been declining, and in the fourth quarter of 2019, it experienced negative growth for the first time.
In September 2020, 58.com announced the completion of a privatization merger and delisting from the New York Stock Exchange, trying to find a new way out through business spin-offs.
After delisting, it spun off businesses such as Anjuke (real estate agency), Swan Daojia (local life), and Kuaigou (city freight). It may want to list these sectors independently to support the overall situation.
But the reality is cruel. These separated businesses have strong opponents in every field.
In the field of recruitment, there are Zhaopin Recruitment and BOSS Direct Recruitment; in real estate business, there is Beike House Search; in intra-city freight, there are Lalamove, Truck Help...
The main business is weak, and the financial business was once a hope, because the financial business has indeed given 58.com a surprise.
Changyin Wuba Xiaojin, which it holds a stake in, maintained rapid growth from 2019 to 2023. Its net profit reached 683 million yuan in 2023, ranking fifth in the industry and becoming an important source of profit for 58.com.
But the good times did not last long. Entering 2024, Changyin Wuba's growth suddenly stalled, and the net profit that year plummeted 95.02% year-on-year, leaving only 34 million yuan. By the first three quarters of 2025, net profit has further narrowed to 21 million yuan, which is about to hit bottom.
With the implementation of new loan assistance regulations, 58 Haojie’s model of relying on hidden charges to achieve high interest rates has made 58.com’s financial business even worse.
But what’s even more fatal is the closed-loop imbalance of 58.com’s business model.
Its core income relies on traffic sales, advertising and commissions, which results in the platform deliberately lowering the review threshold and causing the proliferation of false information such as black agents and fake housing listings, which in turn backfires on word-of-mouth and leads to the continued loss of core traffic.
The essence of the loan assistance business is an extension of traffic realization, which is highly dependent on the parent company's traffic supply, and has extremely weak synergy with main businesses such as recruitment and real estate. It can neither drive the recovery of the main business nor solve the fundamental dilemma of inefficient operations and aging business models.
It can only be said that 58.com is under a lot of pressure. Please stay tuned for the follow-up.
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