As of the end of September this yearYi XinThe accumulated loans for leasing financial leases totaled 81 billion yuan, of which 1.5 percent were overdue for more than 90 days. 149000 12.1 billion car loans were generated in the first three quarters of this year.

Source | FinX Technology

Author | FinX Technology

According to the latest news from FinX Technology, in the first three quarters of this year, Yixin leased a total of 81 billion loans, added a total of 149095 financial leasing contracts, traded a total of 305400 vehicles, with a total investment of 12.1 billion yuan.

At the same time, Yixin Leasing disclosed its financial cooperation: 42.53% of asset securitization, 23.62% of subleasing and factoring, 20.31% of bank loans and 13.53% of trust loans. The number of cooperative institutions has also further expanded from 51 at the end of August last year to 64 at the end of September this year.

Yixin Leasing said it expects to invest about $20 billion in 2019 and raise $5 billion in the next six months through instruments such as ABN/PPN, ABS, corporate bonds and lottery.

From January to September, it promoted 149000 12.1 billion auto loans, with a cumulative loan of 81 billion.

According to the prospectus for the second phase of ABN of Yixin Leasing disclosed a few days ago, the main business of Yixin Leasing is divided into two parts: proprietary business and platform business:

The main contents are as follows: 1) the proprietary business is divided into three parts: passenger car financial leasing, centralized procurement services and operating leasing. In the future, the proprietary business development of Yixin Leasing will still focus on the passenger car financial leasing business.

2) the platform business Yixin Leasing is communicating with various banks to provide loan facilitation services, mainly for Yixin Leasing to collect service fees from consumers who borrow money or banks that issue car loans.

By the end of 2018, Yixin Leasing had accumulated loans of 68.87 billion yuan, and the net leased assets at the end of the period totaled 37.35 billion yuan. In 2018, Yixin Leasing added a total of 327226 financial leasing contracts, involving an investment amount of 26.8 billion yuan.

By the end of September this year, Yixin leased financial leases totaled 81 billion yuan, net lease assets at the end of the period 31.6 billion yuan, a total of 149095 new financial leasing contracts, involving 12.1 billion yuan.

In terms of loan facilitation services, the business entered a period of rapid growth in 2018. For the whole of 2018, about 90200 auto financing transactions were facilitated through loan facilitation services to partner banks, while loan facilitation services grew rapidly in 2019, resulting in about 156700 auto financing transactions as of the third quarter.

Since 2018, with the combination of the above two major business models, Yixin Leasing has completed transactions totaling 417300 vehicles in the whole year and 305400 vehicles from January to September 2019. Yixin Leasing business is growing strongly, its market share is increasing year by year, and its development prospects are broad.

The average writing price is 73800 yuan, the average period is 34 months, and the overdue rate of more than 90 days is 1.5%.

Among the 20989 lease contract assets of Yixin Leasing's second phase of ABN products in 2019, the average contract amount of each asset is 73800 yuan, the average contract duration is 34.5 months, the average initial down payment ratio is 28%, and the proportion of new cars and used cars is 75%.

In terms of regional distribution, the above fund-raising documents show that from January to September 2019, the top five provinces, cities and autonomous regions in which Yixin leased new assets accounted for 14.82% of Guangdong Province, 6.03% of Hebei Province, 5.72% of Henan Province, 5.20% of Hunan Province and 5.02% of Jiangsu Province. The financial leasing business of Yixin Leasing is mainly distributed in major economic provinces, and the overall credit standing of customers is good.

From the perspective of customer channels, Yixin's customer acquisition channels are currently divided into agents and direct sales, with 30% of agent customers and more than 150 agents cooperating with more than 150 agents; direct customers account for 70%Car-changing networkProvide online customers and cooperate with more than 30 manufacturers and brands in their direct stores, Taoca experience stores and other self-supporting channels.

In terms of asset quality, by the end of September 2019, the overdue amount of more than 90 days of Yixin lease accounted for 1.5% of the overdue amount of more than 180 days, the provision rate for bad debts was 2.04%, and the early repayment rate of the current period was 0.46%.

ABS accounts for the largest proportion of funds, with a scale of about 20 billion this year.

In terms of funds, Yixin Leasing's main funding channels include asset securitization 42.53%, sublease and factoring 23.62%, bank loans 20.31% and trust loans 13.53%. There are various financing channels and the overall financing situation is relatively smooth.

Among them, 1) Yixin Leasing raised a total of 32.896 billion yuan through asset securitization such as ABS and ABN, and the asset securitization projects issued were all non-phenotypic structures. by the end of the third quarter, the balance of asset-backed securities issued through the open market totaled 11.062 billion yuan, and there was no default in principal and interest repayment.

2) in the same period, the bank credit granted by Yixin leased totaled 4.31 billion yuan, of which the unused amount was 384.5111 million yuan.

Considering that the expected launch size of Yixin Leasing is expected to be about 20 billion in 2019, Yixin Leasing plans to obtain 5 billion financing through financing instruments such as ABN, PPN, ABS, corporate bonds and lottery in the next six months, the document said. The direct debt financing plan of Yixin Leasing is mainly medium-and long-term debt, which makes its debt structure more and more reasonable.

In the way of cooperation, in the loan promotion business, the third-party guarantee institutions provide customers with increased credit and bear risks. At present, there are 12 financial institutions on-line operation of this business. In addition to some assets guaranteed by institutions such as guarantees or insurance, Yixin Leasing pays a certain proportion (about 5%) of the deposit for the rest of the assets as a way to increase credit to resist the related risks arising from the duration of this part of the assets.

The number of Yixin leasing fund cooperation institutions has further expanded from 51 at the end of August last year to 64 at the end of September this year, details are as follows:

ABS and trust institutions include: Wanjia win-win management, Citic Trust,CITIC、Tianfeng Securities, Bank of Communications Trust, China Construction Investment Trust, Xingzheng Securities,HuataiChangan Trust, China Shipping Trust, Ping an Trust, Jiangsu Trust, Huaxin Trust, Huaneng Trust, Xiamen Trust, Jianxin Trust

Leasing and factoring institutions include: Jiangnan Golden Rent, Xinda Golden Rent, Noah Leasing, Guoxing Golden Rent, Guiyin Golden Rent, Huayun Golden Rent, Ping an Leasing, China Construction Investment Leasing, Su Yin Golden Rent, Bang Silver Gold Rent, Nanyue Leasing, Gefei assets, Xingbang Golden Rent, Haisheng Gold Rent, Aerospace Science and Technology Industrial Fund Rent,MoutaiJianyin Leasing, Haihui factoring, Minsheng Financial Rent, Yangtze River United Golden Rent, Hubei Golden Rent, China Railway Construction Financial Rent, Yuexiu Leasing, Caide Leasing, Hitachi factoring, Guoyin Gold Rent,VolkswagenLeasing, Warburg Trust, Societe Generale, FAW Leasing

Banks include: Bank of Communications Shanghai Branch, Guangzhou Agricultural and Commercial Bank Tianhe Branch,Bank of ShanghaiFree Trade Zone Branch,Bank of China Ltd.Shanghai Branch,Bank of CommunicationsShanghai Free Trade Zone Branch,Bank of East AsiaShijiazhuang Branch, Cooperative Treasury Bank Suzhou Branch, Pudong Development BankSilicon Valley BankKunshan Branch of Changhua Bank, Shanghai Branch of HSBC,Shanghai Pudong Development BankShanghai Free Trade Zone Branch,Industrial bankShanghai Branch, Hengfeng Bank Chengdu Branch,Bank of BeijingShanghai Branch, Fubang Huayi,Agricultural BankShenzhen South Branch, Ningbo Commercial Bank, Shanghai Branch, Capital Bank, XiamenInternational bankShanghai Branch.