CCTV News, Beijing, December 27 (Reporter Zhang Qian and Wang Yipin) According to the economic voice "World Finance", on the 24th local time in the United States, the Dow Jones Index achieved the worst Christmas Eve trend in history, and the price of crude oil also fell below 43 US dollars on this day.
This article analyzes and discusses the feasibility of automatic stock trading products. I hope the ideas and methods can provide you with some reference.
1. Background analysis 1. Why do we invest?
Personal investment methods and projects can be diverse, but the purpose of investment is the same: to obtain income and avoid wealth depreciation. Therefore, individual investors will choose to invest their funds in the market when their funds are idle or when the returns from capital operations are lower than expected.
Depending on the amount of idle funds, circulation cycle and expected returns, different investment selection strategies will appear: currencies, bonds, futures, real estate, funds, stocks, etc.
2. How do we get returns on our investments?
Here, the author takes stocks as the object of analysis and simply sorts out the relationship and investment logic between listed companies, markets, and investors. The main reason for choosing stocks for analysis is that the stock trading market is highly digitized, the investment threshold is low, and the income ceiling is high, so there are a large number of investors (high 2C potential).
First, let’s briefly analyze the stock investment logic under a rational market. When a company's cash capital cannot keep up with its development needs, it will choose to go public if relevant conditions are met, and sell a part of the company's shares to obtain capital reserves for development; investors are optimistic about the company's development and buy its shares to obtain equity and enjoy the company's development dividends (company profit dividends). In this process, the company shared its development dividends with the market for development needs, and investors used idle funds to obtain corresponding returns.
Next, let’s analyze the impact of irrational logic on investment decisions. Due to the large number of listed companies in the market, the investment decisions of stock investors have become complicated. Due to barriers to information transmission between the market and investors, and between investors, it is difficult to establish comprehensive investment trust. Mutual suspicion makes the market unpredictable under the intervention of irrational logic. This is manifested when good news comes from a company, and the stock price continues to rise, far higher than the company's value; or negative news causes the company's stock price to plummet, far below the company's value. As a result, some smart investors have appeared in the market. They are keen on short-term operations, selling high and buying low. As long as there are ups and downs in the market, they can profit from their advantages in information acquisition and capital volume.
In the complex system of the market, rationality and irrationality jointly determine investors' trading decisions.
3. The essential reasons why the Internet brings industry changes
The improvement of chip computing power is based on the optimization of the rules and efficiency of electrical signal transmission. The operation of society also relies on rules and efficiency. Rules are the logic of information transmission, and efficiency is the speed of information transmission. Abstract information is given to entities. It can be knowledge, capital, productivity, technology, or everything that is transferred between people and between people and society. The emergence of the Internet is equivalent to opening up the channel for information transmission across time and space. In most industries, massive decentralized information will promote transparent and efficient dissemination of information within the industry.
In the PC era, the Internet entered the public eye with content entertainment (games, information), connected the public with instant messaging, built a social ecology, and connected supply and demand information through e-commerce platforms to achieve efficient circulation of resources on both sides. In the mobile Internet era, smartphones broke the barrier between people's online and offline information transmission. Since then, the Internet has begun to penetrate all aspects of people's lives, using efficient and transparent information transmission to reconstruct the operation of many industries.
2. Feasibility of automatic stock trading products 1. Can investment strategies be machine learned?
A senior investor will dynamically adjust investment behavior based on market reaction based on his rich investment experience and logical judgment. By treating investment experience as historical data and logical judgment as investment algorithms, the investment process of an automatic decision-making machine investor can be programmed. The market environment and various news information are used as input data. After calculation by the investment algorithm, the optimal trading decision can be obtained. Such an investment algorithm requires large samples of historical data for training and optimization. Since there is such a large data sample library in the stock market, it should be feasible to identify the complex system of the market and find the "optimal" algorithm. A simple schematic diagram is given as follows:
2. Product functions and marketing strategies at different stages
The first stage: Comply with the speculative nature of the current market to complete user growth
The first thing to make clear is that in the early stages, automated trading products are suitable for short-term swing investment strategies. At the same time, the investment volume should not be too large, otherwise the algorithm will fail due to the degree of market participation. Based on this premise, the core functions and marketing strategies of automatic trading products are described.
The simulated trading game allows users to choose stocks on their own and compete with machine decision-making for profit in the same time period and under the same capital conditions. It builds users' preliminary understanding of automatic trading products. For users whose return rate is higher than machine decision-making, their trading data will be recorded in a large database to optimize the algorithm.
Provide trading decision-making advice and investment advice with different levels of intervention for users with different needs. For users who are willing to invest on their own, it can provide sudden information on listed companies related to the stocks in their warehouses. For users who are willing to accept product investment suggestions, it can provide trading decision-making information, push transaction content (number of stocks bought and sold, prices, etc.) and vibrate reminders at the appropriate trading time.
With relevant qualifications, we accept user investment entrustments, implement automatic transactions, and provide customized investment services based on the user's investment amount and time.
Set up a stop-loss liquidation mechanism to fully or partially subsidize losses. In order to build user trust, the stop-loss liquidation mechanism is triggered under fully authorized transactions, and corresponding subsidies are provided after liquidation.
The second stage: establishing an investment environment with transparent information and rebuilding credit
With a certain number of users, short-term investments will gradually become ineffective, and product investment strategies will gradually shift to value investments. In order to determine the value and prospects of a listed company, it is necessary to have rich data information about the company and the industry. Financial reports and announcement information are far from enough. Fortunately, the Internet of Things and the industrial Internet are developing rapidly, and production and sales data will become more transparent and efficient. Real-time information release will help reduce investment suspicions and help listed companies grasp market demand and constantly adjust production and R&D directions. The entire market will promote the optimization of the efficiency of capital investment and allocation.
Returning to product functions, at this stage, the weight of toB business will be higher than that of toC. The main purpose is to establish financial databases related to listed companies, publicize them, and establish corporate credit. The C-side is classified according to the length of time users have idle funds, and the capital structure is adjusted to ensure the stability of funds.
The third stage: establishing an investment ecosystem and realizing the sharing of social development dividends
At this stage, the market information is transparent, the credit system of enterprises and investors is complete, and the value investment system based on rational judgment has an environment to rely on. Building a rational investment society and breaking down information barriers effectively reduces the capital bubbles in some industries caused by concentrated speculation, which is conducive to the sharing of social development dividends and the dynamic orientation of labor and R&D capabilities, making it possible for social development to be invested by all people, production and construction to be participated by all people, and development dividends to be shared by all people.
Summary and reflections
The value of the stock market should be to integrate and rationally allocate idle social resources to promote industrial development, rather than to seize profits through information transmission barriers or time differences and abandon industries. The development of the Internet and Internet technology has penetrated all aspects of society and life, bringing about the transparent and efficient transmission of information. When information barriers and information delays in the market no longer exist, it is time for the Internet to reconstruct the financial investment system. Only by facing the contradiction between market demand and scientific and technological development and rationally allocating capital and resources can the benefits of social development be maximized.
Back to the present, the biggest competitor in the market investment industry may be Alibaba. Alibaba has established a national credit system through personal consumption data obtained through products such as Taobao and Alipay. Alibaba provides cloud computing and cloud storage services to enterprises through Alibaba Cloud. Alibaba only needs to obtain enterprise data information when the time is right. Alibaba itself is both the largest capital supplier and the largest capital demander. By then, Alibaba's destination may be to optimize social development and protect enterprises.
On the night of January 2 this year, with the excitement of the Dongji Fuyuan New Year Marathon Championship trophy still lingering, the "fastest female nurse" Zhang Shuihua posted a resignation video on her personal social platform. “I don’t regret the way I came, and I’m not afraid of new journeys. These years have been great, but I should move forward.”
The news of her resignation quickly aroused heated discussions, and whether she could make a living by running marathons after resigning also became the focus of discussion among netizens.
Three months after resigning, there is a short-term answer to this question - 4 games, 2 championships and 1 runner-up; 3 endorsements, signed in a week; more than 30 live broadcasts, nearly 5 million people watched; cash bonus of about 115,000 yuan, plus a car worth 100,000 yuan, discounted to more than 200,000 yuan.
Picture of Zhang Shuihua’s Liuzhou Marathon victory, released by Liuzhou
A few days ago, Red Star News reporters reviewed Zhang Shuihua's recent achievements and endorsements, and interviewed many people in the running industry to find the logic behind all this happening beyond the numbers.
What you earn on the track is not just bonuses
The day before announcing his resignation, Zhang Shuihua had already stood on the court. On January 1, she won the East Pole Fuyuan New Year Marathon and broke the competition record, winning a bonus of 15,000 yuan.
After releasing her resignation video, on January 18, Zhang Shuihua’s first race after officially announcing her resignation was the Chongqing Marathon. She finished sixth among women and fourth in the country with a time of 2 hours, 30 minutes and 51 seconds, and received a bonus of 20,000 yuan.
Nearly two months later, she won the runner-up in the Nanjing North Shore Marathon on March 8, with a bonus of 10,000 yuan; on March 22, she won the Lishui Marathon and broke the competition record, with a bonus of 40,000 yuan.
The most eye-catching event was the Liuzhou Marathon on March 29. She registered as an ordinary runner and crossed the finish line in 2 hours, 36 minutes and 23 seconds to win the race. She pocketed 30,000 yuan in cash and a car worth about 100,000 yuan. Winning two championships back to back within 8 days, the total rewards exceeded 170,000 yuan.
After resigning, he received a cash bonus of approximately 115,000 yuan. Including a car worth 100,000 yuan, the total discounted value exceeded 200,000 yuan. However, marathon prize organizers generally withhold 20% tax.
Her best marathon time of 2 hours, 30 minutes and 37 seconds has reached the standard of the Chinese Athletics Association for international athletes - only about 20 people in the national women's marathon have reached this standard. What's even more commendable is that Zhang Shuihua's scores have been stable between 230-236 for a long time, with minimal fluctuations.
Ka Ge, the person in charge of the Rabbit Hi-Running Camp, told the Red Star News reporter that this stable high-level performance is the prerequisite for all Zhang Shuihua’s future development and can provide the foundation for her endorsements, accounts, etc. Brother Ka also mentioned that given the special nature of marathon sports, Zhang Shuihua still has a long time to maintain a high level. Moreover, the window period for domestic marathon events is very short. There are at least a dozen events almost every weekend. In addition to the participation restrictions of players within the system, the probability of Zhang Shuihua and several of the top domestic runners crashing is not high. Zhang Shuihua's strength will allow her to continue to perform in many competitions for many years to come, bringing her continued income and exposure.
But some insiders have different views. A running coach told a Red Star News reporter that the uncertainty of event prizes is extremely high. After the 2025 National Games, competition will also intensify significantly in the future. Another former professional athlete also mentioned that the prize money for small events is limited. After deducting 20% personal tax and travel costs, "not winning is basically a waste of money or even a loss", and high-frequency participation is extremely taxing on the body.
The number of fans on the account doubled, and "little yellow cars" were posted one after another
On the day of his resignation, Zhang Shuihua had already appeared in the live broadcast room.
On January 2, she participated in the live broadcast of Fuyuan's "Heixiazi Island" tourism. Although it was not a commercial cooperation, it also triggered speculation about her transformation and sales. On January 6, she launched her first personal live broadcast after her resignation, and her second live broadcast on January 8 attracted a lot of attention.
Since then, its live broadcast frequency has stabilized at about one every three days.
The data monitoring platform shows that Zhang Shuihua has live broadcasted 34 times in total, of which the second live broadcast on January 8 had nearly 500,000 viewers, with an average of about 130,000 viewers. The live broadcast after Liuzhou Marathon won the championship attracted nearly 300,000 viewers, which was the second highest number of live broadcasts. Zhang Shuihua's account followers have doubled from more than 90,000 at the beginning of the year to more than 180,000 today.
Zhang Shuihua’s recent live broadcast data
During the live broadcast, Zhang Shuihua acted relaxed and comfortable. Her cooperation with her husband and the occasional teasing made the live broadcast room interesting, unlike the "poor words" that many netizens had previously believed.
It is worth noting that her account’s business attitude has also undergone changes. In March, "little yellow cars" began to be put out one after another, mainly selling running shoes, equipment, and nutritional products. In 4 of her 34 live broadcasts, she carried goods. The sales in each live broadcast were only a few thousand yuan, but there was a steady improvement trend.
This change is closely related to the reality of the industry.
In previous interviews with Red Star News reporters, many practitioners pointed out that the income of the running industry mainly comes from the four major sectors of events, endorsements, accounts, and coaching. However, it is extremely difficult to monetize accounts. "There are many running accounts, and we must rely on professional teams."
At present, Zhang Shuihua's account has completed the transition from "content exposure" to "initial realization", but it is still in the early stage.
Three signings a week, commercial value overflows the track
For top marathon runners, the main source of income is commercial endorsements.
Before resigning, Zhang Shuihua had already signed an endorsement contract with 361°, but after a dispute arose, the two parties officially terminated the contract in September last year. In the following months, Zhang Shuihua, who was caught in the whirlpool of public opinion, had no commercial endorsements. So when she first resigned, some people in the industry were worried about her endorsement prospects: brands may be afraid of her controversial identity.
But in February, Zhang Shuihua's worries were overturned, and he won consecutive signings. On February 10, sports eyewear brand Hyper Run officially announced the signing; five days later, on February 15, Xtep announced that she had become an official signed athlete; and the next day, on February 16, Shandong home decoration brand Boulevard completed the signing - "three signings a week."
Zhang Shuihua’s account announces endorsement
According to Shangguan News, industry insiders estimate that Zhang Shuihua’s annual endorsement income can reach 1.8 million to 4.6 million yuan, and the appearance fee for a single event is about 100,000 yuan. However, this figure has not been confirmed by Zhang Shuihua or the brand.
In an interview with reporters, Ka Ge mentioned that Zhang Shuihua had recently successfully registered a company to ensure standardization of commercialization, but he did not disclose the specific company name.
Insider perspective:
Grades and labels provide the possibility of breaking the circle
As a friend of Zhang Shuihua and an industry insider who has been engaged in sports event communication for a long time, Ka Ge is not surprised by Zhang Shuihua’s outburst and believes that there are multiple advantages that provide him with confidence.
Brother Ka mentioned that performance is Zhang Shuihua’s biggest source of confidence. Long-term stable high-level performance has brought continuous income and exposure to Zhang Shuihua. In recent years, brands have increasingly tended to spend money on "accurate fans" rather than Internet celebrities with large numbers of pure fans. Zhang Shuihua only has a few hundred thousand Douyin fans, but his commercial influence has begun to surpass that of Internet celebrities with millions of fans. The most intuitive example is the Liuzhou Marathon, the Shijiazhuang Marathon, and the Yangzhou Marathon: Compared with the Shijiazhuang Marathon, which invited former world record holder Kipchoge, and the Yangzhou Half Marathon, which brought together many of the country's top elite runners, the Liuzhou Marathon does not fall behind in terms of online communication.
Ka Ge believes that Zhang Shuihua’s label is also the key to her breaking out of the circle: she was born as a nurse and started running in 2018. She relied purely on love and self-discipline. She has taken steps every year, from breaking 3 (hours) to breaking 250 to breaking 240, and now she has stabilized at the level of 235. These labels have natural public resonance and are closer to the sports needs of ordinary people. Her story will make people feel that she is the same kind of person as you. After resigning, the controversy surrounding Zhang Shuihua also disappeared.
Brother Ka believes that after resigning and preparing for the competition full-time, through more professional training and greater running volume, Zhang Shuihua's score has a chance to break through the 230 mark, and if there are no injuries, he can still maintain a high level for more than ten years. According to Shangguan News, Zhang Shuihua’s husband revealed that she plans to optimize her condition through systematic training, strive to hit her personal best (PB) in the second half of the year, and explore new ways to deeply integrate professional athletes with commercial value.
challenge:
How far business can go depends on the next game
But behind the bright numbers, challenges also exist.
There has always been uncertainty in the competition on the field. Ka Ge mentioned that the results are Zhang Shuihua's confidence, but once the results decline, the commercial value will also shrink rapidly. However, based on Zhang Shuihua's current performance, as long as there are no injuries, there is no need to worry too much about this for the time being.
But Zhang Shuihua will also face common problems among marathon runners. Except for top professional runners, ordinary runners have almost no team protection. Several well-known amateur runners, like Zhang Shuihua, only have their significant other as a team member, and at most a few people to assist in account operations.
Additionally, there are athletes who face contractual and financial risks. "Many team members received bonuses, but they didn't know how to file taxes or what pitfalls were in the contracts." Brother Ka has seen many athletes sign long-term contracts with extremely poor terms. When the commercial value has far exceeded the contract value, they cannot change it. However, in this regard, Zhang Shuihua and her husband, who graduated from Tianjin University, can obviously do better.
At the same time, account operation is not a simple task. After Zhang Shuihua's account has doubled the number of fans, it is only 180,000, and he can bring in goods for several thousand yuan in a single game. Compared with the top accounts, the gap is very obvious. Some running circle practitioners said that there are currently many running accounts and there are many professional MCN organizations on this track. If you want to make a good account, you definitely need the support of professional organizations, which is very difficult. Ka Ge mentioned that these live broadcasts and endorsements should be ranked after training and competitions. "Training and competitions are fundamental." The product categories should also fit the personality and focus on sports brands, healthy life, and female growth. It is better to be lacking than to overload.
Taken together, in the three months since his resignation, Zhang Shuihua has delivered an impressive report card: performance, traffic, and business. The three curves have risen at the same time, but he will also face dual challenges in performance and commercialization in the future.
As Ka Ge said, "Training and competition are fundamental." How far the business can go ultimately depends on whether she can win the next game.
Red Star News reporter Liu Yazhou and intern Zhang Yichi
CCTV News, Beijing, December 27 (Reporter Zhang Qian and Wang Yipin) According to the economic voice "World Finance", on the 24th local time in the United States, the Dow Jones Index achieved the worst Christmas Eve trend in history, and the price of crude oil also fell below 43 US dollars on this day. Data shows that behind the rapid decline in the U.S. market in 2018, about 85% of trades were automatically executed. So is this type of automated trading exacerbating market volatility?
Automated execution of trades is primarily controlled by machines, models or passive investing formulas. Speaking of the impact of automatic execution of transactions on the market, Xu Chun, a financial analyst and founder of JiZhi.com, believes that the development of new technologies and AI will cause certain changes in the entire trading mechanism in the future. The impact of automatic execution of transactions on the market is relatively symmetrical. The key is to pay attention to the judgment of market signals.
Zhang Gang, chief analyst at Southwest Securities R&D Center, believes that automatic execution of transactions has stylized characteristics and will have a small impact on market fluctuations. However, automatic execution of transactions often requires intervention in the manual confirmation process, which can be remedied in a timely manner.
Take automatic stock trading software as an example. It generally has automatic functions such as range automatic trading function, indicator formula automatic trading function, automatic buying and selling turning point trading function, automatic stop loss selling function, etc. Xu Chun said that automated transaction execution is still very promising. In the long run, it is a good liquidity provider.
At present, the automatic execution transaction development system is not yet mature and complete, and cannot completely replace investors in investment transactions. It is just an assistance software. Zhang Gang believes that stock trading still requires investors' own knowledge and experience. "In the future development of the investment field, it will be difficult to achieve a perfect investment result relying on a certain model of a certain type of tool."
In November last year, it was reported that Korean director Kim Chang-min had a cerebral hemorrhage and entered the hospital and passed away. The media at that time also reported that he donated his body to four people after his death.
Unexpectedly, new news came from the media: Jin Changmin was beaten to death by a group of people!
What happened?
According to Korean media reports, Kim Changmin took his son to a restaurant to eat in the early morning of October 20 last year because his autistic son wanted to eat pork chops.
Unexpectedly, his son made noise while eating, causing an argument with other customers in the store. In the end, the other customers beat him to the ground. After the restaurant owner reported the incident, the police rushed to the scene and called an ambulance.
Unfortunately, after resuscitation, Jin Changmin still did not wake up. He died after lying in bed for 15 days. He was determined to be brain dead on November 7.
It is really unfortunate that it is not easy to have an autistic son, but he was beaten and lost his life while innocent.
At that time, his sister also posted the news of Jin Changmin's death, mentioning that Jin Changmin had donated his body to four people, extending his life in another form.
She said, "He looks strong on the outside, but he is warmer and more delicate than anyone else. I hope that those who remember my brother, even from a distance, can make him feel less lonely in his last journey. We will be grateful if we pray for him and remember him with a warm heart."
However, she did not mention the cause of Jin Changmin's death at the time, and it was not made public until five months after the incident. His family members said that there was a large hospital near the incident site, but the delivery to the hospital was delayed by an hour, missing the golden time.
They also complained that the police only applied for detention of one of the multiple suspects before targeting the other two. However, the application for detention was rejected, the investigation was incomplete, and was delayed for several months. Kim Changmin's parents said, "Five months have passed and the criminal who killed my son is still walking freely outside."
Kim Chang-min switched from being a behind-the-scenes worker to a director. He worked as a prop crew member and also worked as an art crew member for films such as "Narcos" and "Fire Rescue". He only directed "Someone's Daughter" in 2016, and in 2019 he filmed "Jiuyi Station Exit 3".
I never expected that such a family-oriented and loving director would die young in this way. I just hope that the evildoers will eventually be punished and that the director can freely make the movies he likes in another world.
After the liberation of debt-side funds of Internet banks, their development has been rapid.
Among private banks, Internet banking is definitely the one that attracts the most attention. As an important "chess piece" in the ecological layout of various Internet companies, Internet banks have been unique since their establishment.
Without the stacking of offline branches, relying solely on the ability to acquire customers online has allowed Internet banking business to break through geographical constraints and gain great freedom. However, it has also caused a lack of trust between banks and deposit customers. It is particularly difficult to promote liability-side business in the early stage.
However, this situation is a thing of the past.
Net profit accounts for nearly 80% of the total assets of private banks, with explosive growth
In the past five years, Internet banks have gradually entered the public world. Since Shenzhen Qianhai WeBank was approved for establishment in 2014, Zhejiang Online Commerce Bank, Sichuan Xinwang Bank, Wuhan Zhongbang Bank, and Jiangsu Suning Bank have successively opened their businesses. In the past two years, five banks have made rapid progress and have begun to become the leading institutions of private banks.
Statistics from the China Banking and Insurance Regulatory Commission show that private banks had a net profit of 4.5 billion yuan in 2018 and a net profit of 8.2 billion yuan in 2019, of which Internet banks contributed nearly 80%. By sorting through the annual reports of four Internet banks (Wuhan Zhongbang Bank did not disclose the 2019 annual report), it was found that the net profit of the four banks in 2018 was 3.504 billion yuan, accounting for 77.87% of the overall net profit of private banks; in 2019, the net profit of the four banks was 6.415 billion yuan, accounting for 78.23%.
At the end of 2019, the asset size of Qianhai WeBank was close to 300 billion yuan, and MYBank also exceeded the 100 billion yuan mark. As for Jiangsu Suning Bank and Sichuan Xinwang Bank, which were less than three fiscal years away from their official opening, their asset size also increased significantly compared with the previous year. Among them, the assets of Jiangsu Suning Bank reached 63.901 billion yuan, an increase of 97.14% from the end of the previous year, and the assets of Sichuan Xinwang Bank reached 44.153 billion yuan, an increase of 22.11% from the end of the previous year.
The ability to absorb savings has increased by leaps and bounds, and debt-side funds have been liberated.
The rapid increase in asset size is due to the liberation of the liability side.
Internet banking is positioned to serve small and micro enterprises and individuals. This type of customer is inclusive in nature, has difficulty obtaining credit from traditional banks, and has strong demand for funds. However, the difficulty in attracting deposits has always restricted the development of Internet banks.
The debt situation of Qianhai WeBank and Zhejiang MYBank for four consecutive years shows that 2018 serves as a watershed and the situation of Internet banks is very different.
Before 2018, among the liability-side funds of Internet banks, deposits accounted for a small proportion, and the funds mainly came from interbank institutions. Qianhai WeBank's deposit-to-liability ratio has been around 7% for two consecutive years. Although Zhejiang MYBank's deposit ratio is relatively high, it also dropped by 6.3 percentage points in 2017.
After 2018, this situation has been greatly improved. On the one hand, the deposit interest rate of private banks is higher, which is close to that of some financial products, and the deposit insurance system of up to 500,000 yuan also adds a psychological safety cushion; on the other hand, the development of Internet finance is deeply rooted in the hearts of the people, and people have become accustomed to purchasing financial products and enjoying financial services through terminals and apps. The development of the liability side of Internet banking is ushering in liberation.
From a total perspective, Qianhai WeBank's total assets and liabilities have doubled since 2018, with deposits reaching 154.478 billion yuan, a 27-fold increase from the end of 2017. It will further grow in 2019, exceeding 200 billion yuan. The total deposits of online merchant banks showed a steady and rapid increase.
From a structural perspective, at the end of 2018, the proportion of Qianhai WeBank’s deposits suddenly increased to 74.23%, and in 2019 it reached 85.89%. The proportion of Zhejiang Online Merchant Bank's deposits has steadily increased for three consecutive years, reaching 61.11% by the end of 2019.
Jiangsu Suning Bank and Sichuan Xinwang Bank have experienced two complete fiscal years. Under the favorable conditions of the general environment, the liability-side funds of the two banks were mainly deposits from the beginning. Jiangsu Suning Bank's deposits accounted for 69.01% in 2018, which increased by 4.11 percentage points to 73.12% in 2019; Sichuan Xinwang Bank's deposits accounted for 41.34% in 2018, which increased by 25.72 percentage points to 67.06% in 2019.
Deposit business is the basis for the expansion of bank assets, and asset size is the basis for bank operations. From this point of view, the liberation of the liability side of Internet banks has greatly promoted the operation and development of institutions.
The problem of capital replenishment needs to be solved urgently. MYbank is testing the waters of perpetual bonds.
It is worth mentioning that after Internet banks solve the problem of liability-side funds and free up scale, they will face the problem of rapid consumption of capital.
According to statistics from the past three years, at the end of 2018, except for Jiangsu Suning Bank, the capital adequacy ratios of other banks were between 12% and 13%. Entering 2019, Jiangsu Suning Bank expanded its scale and entered a stage of rapid capital consumption. By the end of the year, its capital adequacy ratio dropped to 12.39%. Qianhai WeBank remained stable, while the capital adequacy ratios of MYbank and Xinwang Bank both increased.
Among Internet banks, Zhejiang MYBank always actively explores capital expansion paths. In December 2019, MYbank conducted a capital increase and share expansion, increasing its capital by 2.5 billion yuan and increasing its capital adequacy ratio by 4.3 percentage points. Just recently, the Zhejiang Banking and Insurance Regulatory Commission approved Zhejiang MYbank’s request for issuance of non-fixed-term capital bonds and agreed that MYbank would issue perpetual bonds of no more than 5 billion yuan. This is also the first time a private bank has issued a perpetual bond.
At present, the capital adequacy ratios of the four Internet banks have reached the normal level of banking institutions. The capital adequacy ratios of less than 20% can no longer support their rapid expansion. Internet banks will now face a problem: through which channels should they replenish their own "fresh blood"?
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(For details on investment levels, please see Must-read 2 for new players and members) After investing and opening an account on the FNS Francis Swiss Exchange, in addition to the system automatically buying 50% of the investment level amount In addition to the coins automatically purchased at the current price, you can recharge your own money to buy coins at the current price! You can download a mining machine to mine coins! Three: The value-added principle of encrypted digital currency: the total number of R coins is 100 million, and the original coins are 3 million (·Chicago, Illinois, the first batch of cloud mining machines started mining in March 2015, and 3 million original R coins were issued). The remaining 97 million R coins need to be mined by everyone with mining machines! The current number of exchanges It is estimated that more than 4,000 R coins can be mined every day, and now a total of more than 3.88 million R coins have been mined (plus the first batch of 3 million original mined R coins). The number of R coins currently circulating and trading in exchanges is less than 4 million coins. However, the demand for R coins, that is, more and more people are buying R coins, so things are rare and the value of R coins must also be increasing! This is the appreciation principle of R coins, and Other encrypted digital currencies such as Bitcoin are of the same nature, but they are somewhat different from Bitcoin in terms of operating mechanism! R-coin inherits the advantages of Bitcoin and improves the shortcomings of Bitcoin! Four: R-coin is more value-added, with stable value-added and stable income: Although R-coin and Bitcoin are both encrypted digital currencies, the principles of value-added and mining are the same, but everyone should know that the price of Bitcoin is skyrocketing! Over a period of time, the market skyrocketed due to large-scale buying, and plummeted due to large-scale selling! The risk is very high, but R-coin does not have these risks, because R-coin has a control mechanism, with regulations and restrictions, which stabilizes the rise and fall of R-coin, making our income more stable. Long-term holding, steady profits without losing money! 1: R-coin has a control mechanism in terms of skyrocketing rise and fall: the maximum daily limit is 10%, and the maximum daily increase is 10%, which controls the player's risk of loss! Of course, it must also It controls the player's profit! But throws away the sudden rise and fall, making the player's profit more stable! 2: R coin has a one-month closed period after opening an account, that is, the currency cannot be sold within 30 days after opening the account, so this mechanism can make the coins sold on the exchange even rarer, but the demand for R coin, that is, more and more people are buying R coins, and the buying orders are getting bigger and bigger! Therefore, the appreciation of R coin is more important in the value-added principle of the encrypted digital currency itself. Increased value! 3: The buying and selling of other encrypted digital currencies such as Bitcoin are sold at will. If sold in large quantities, it will definitely greatly affect the rise and fluctuation of Bitcoin, and it is very likely to plummet! When R coins are sold on the exchange, there are regulations, and only 5% of the number of R coins in the R coin wallet can be sold every day! So this mechanism will further reduce the number of coins sold on the exchange, but the demand for R coins, that is, the purchase of R coins
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