I recently went to Shenzhen and went all the way south. With the development of the industry and the change of supervision, I have a deeper feeling. With the expansion of industry supervision and urban supervision, time seems to have returned to 1992, and I have returned to the crossroads where Chinese banks hesitate to carry out factoring business and boldly move forward. Today, we are still hesitating, and we still have to move forward boldly. The industry is once again at the crossroads of how to accept supervision and how to conduct business in compliance.
Standing at the crossroads, the most compliant business is in standardized markets, trading places, and legendary cities that we are all talking about.
Speaking of cities, public opinion and the characteristics of cities are obvious. People in Beijing are discussing where to register factoring companies in central enterprises, and people in Tianjin are discussing what is more important and why they should take the lead in introducing industry supervision measures. People in Chongqing are basically unable to move. People in Nanjing and Suzhou are watching Shanghai, and people in Shanghai are considering whether supervision will bring greater international influence. The simplest thing in Shenzhen is to make money, for survival and development. A walk will reveal that the market for factoring ABS is still in Shenzhen. In a place less than 2,000 square kilometers, a place dubbed "Pengcheng" is full of crisis and needs the greatest survival. A street office can resist American imperialism.
20 15, it was the third year of factoring pilot, and 3 years old was just enough for children to enter kindergarten. As a result, the whole industry is in a state where hormones are full and they don't know how to vent. The powerful and challenging policies, chaos and opportunities are the most appropriate descriptions of that year.
There are always people who lead the trend in the times, and the industry has never lacked intelligent talents and intelligent teams. This year, Moshan Factoring is the trendsetter of the times, and it left its mark in history with the help of the capital market. In April this year, Moshan Factoring issued the first domestic factoring ABS on the Shanghai Stock Exchange. At that time, public opinion propaganda was the leading issue, which was the first factoring ABS. It was born in Shanghai, the economic center of China.
China's innovation cannot be separated from Shenzhen, and it will not be without Shenzhen. Within half a year after the first factoring ABS appeared, Shenzhen responded and Shenzhen Qianhai Factoring Company was established. The factoring ABS of the first echelon such as Vanke, Country Garden and Poly has entered the era.
Then, after the adjustment of personnel and business strategy, we saw that joint factoring was officially launched in the field of factoring ABS, followed by second-tier housing enterprises such as Evergrande, Longhu and Xuhui.
Then, Lianyirong, Lian Jie Factoring, Shang Jun Factoring, BAIC Factoring, Yihao Factoring and Bailinhui Factoring have all entered history, and different new companies are pouring into this market. They are all shouting a slogan: that is, in this Jianghu, I should be the first!
Even in history, it is only the fourth year, 20 19 years. This road is still very long, and there is still unlimited imagination.
Paying attention to the subject and ignoring the operation is a typical feature of the current factoring ABS business, so many people will think that the role of the factoring company as the original obligee is only a channel, because they have sufficient arguments:
First, your factoring company needs to cross the bridge to receive the consideration funds paid by accounts receivable.
Second, the reverse factoring model is in real estate enterprises or core manufacturing enterprises, and the cost of communication with suppliers is low.
Third, the legal team is basically conducting a formal review of qualified receivables entering the fund pool.
We see more legal teams working overtime, overtime and overtime again. ...
Obviously, in the initial stage of the development of a business model, everyone will see the simplest side. According to the actual communication between me and related operating companies in Shenzhen, factoring companies are doing a lot of work, such as spending a lot of money and energy to build systems, such as spending a lot of time and energy to handle due diligence of funders, such as spending a lot of business teams on business trips to sort out accounts receivable details. The world of adults is never simple. If you haven't done it, you naturally don't have a deep understanding.
Of course, some friends will ask, why don't central enterprises, state-owned enterprises and listed companies do the strategic layout of this kind of business? Through the actual docking, we also found that, indeed, factoring ABS is still in the early stage in China, and the tax issue is a problem that the founding team must face and consider. For example, a state-owned company is more concerned about the requirements of SASAC audit and internal audit, such as a listed company. He is considering more inquiries from regulators of Hong Kong stocks and A shares. This topic could not be discussed in depth, so it was put aside for the time being. Therefore, if someone deceives the central state-owned enterprises to make ABS as a factoring company to make money, basically this person is not very reliable.
This is why private companies can have the characteristics of the current business model of factoring ABS. Before the reform of the camp, Tianjin Binhai New Area and Shenzhen Qianhai had preferential policies for differentiated taxation, which were later cancelled. Therefore, private companies do not have differentiated tax policies for factoring ABS, and input tax invoices cannot be deducted. They can only take risks and bear huge tax risks to make profits. Looking at the factoring companies under the central enterprises, do you have the ability to persuade shareholders to bear such uncertain risks?
Of course, some people will say that we can pay taxes in full and there is no tax risk. Yes, but it involves another issue, namely pricing and marketing. I strongly feel that a good market will be destroyed by egoists. For example, we have calculated that a company whose quotation includes tax 1000 yuan will definitely lose money if it pays taxes in full. Then why do so many companies dare to do low-price malicious marketing in marketing? There is only one answer. I'm eating tax profits and taking risks. Adventure is the characteristic of people like China, and because of this, a few people become rich.
We interpret the current situation of factoring ABS from a brand-new strategy, status quo, pricing and marketing perspective rather than a commercial perspective. I hope everyone can have a more rational and clear understanding of this river and lake.
ABS is really a good product. Although the scale of factoring ABS is not large enough, it has attracted enthusiastic attention from the industry. I want to say that housing financing needs factoring ABS, and non-housing financing needs factoring ABS. This Jianghu is definitely promising. The reason why we dare to make such a judgment is mainly because we are one of them and come from our major.
Yesterday, a friend said that the root cause of human disease pain is lack of sleep. We want to say that the root cause of the rapid development of factoring ABS should be our constant innovation and long-term study.