The 'detonation tide' of the P2P industry has not formed systemic risks, but its lethality has spread to a growing extent. More and more Internet companies such as Jingdong, FeiXin, and Xiaomi are involved. Recently, just landed. In the short-term capital market, Xiaomi was deeply criticized by the P2P platform of the diversion.
Relying on the large-scale traffic accumulated, Internet companies have started a 'drainage business', and the P2P platform has become a major source of customers. However, when the millet's diversion of the 'rice powder' shouted 'let Xiaomi be responsible, When letting Xiaomi pay the price, can it bring enough shock to Internet companies that are diverting the P2P platform or are about to take the lead?
Xiaomi should not be responsible
Key role positioning
With the Akita Wealth, 2025, Mi Bag, Xiao Zhuge, Qian Qianbao, People Love, Little Grizzly, Butler, Jiemai and other P2P platforms continue to 'Burst', investing in these P2P platforms through Xiaomi online platform diversion Rice noodles began to look for millet, accounted for Xiaomi and wanted Xiaomi to be responsible. The reason is very simple - 'I bought it because Xiaomi recommended me.'
Judging from the current response from Xiaomi, this reason is obviously not enough to say that Xiaomi. From the little grizzly gold clothing 'explosive thunder' and triggered the 'rice powder' to question the voice of Xiaomi, Xiaomi once remained silent. And with the situation Continued fermentation, Xiaomi finally responded on July 24, saying that the application of financial products is being comprehensively inspected. At the same time, it also said that the app store has decided not to include new P2P wealth management applications, and retain all P2P product apps. Developer contact information and business license copy information, provide necessary support when the user needs, and cooperate with public security agencies for industrial and commercial law enforcement.
Xiaomi’s response is simply two points: one is to emphasize the legal compliance of his advertising business; the other is to show that he is willing to help the user to defend his rights under the premise of being legitimate and legal. However, such a response obviously cannot calm the 'rice meal’. Excited emotions.
Then, should Xiaomi be responsible for the 'rice powder' that is stepping on the mine with the P2P through the millet diversion? What responsibility should it be?
"International Finance News" reporter interviewed a number of Internet industry insiders, their general consensus is that the negative is not responsible or responsible, the key depends on the role of Xiaomi in the incident.
Xiaomi’s position in this incident is very clear. In response to an interview with the International Finance News reporter: “As we all know, we are only the advertising publishers of the P2P platform. We have done a strict review (responsibility), promotion It is also a product that complies with relevant laws and regulations. Xiaomi's advertising business is legal and compliant, and the cooperation model is pure advertising. It is not Xiaomi's strategic cooperation with it, and it does not participate in P2P sharing.
'Only the advertising publisher', 'Pure advertising cooperation model', can such self-definition be recognized by everyone?
'If I just saw a P2P advertisement on Xiaomi's platform, and then I went to find the P2P platform to invest, then I think Xiaomi is a pure advertising publisher. But the actual situation is not the case, 'rice powder' is passed Xiaomi mobile phone's 'Millet Sports' APP and Xiaomi VIP mission system to complete the download and registration of P2P platform APP, and also get the reward of Xiaomi mobile phone, Xiaomi TV and other millet products after investing a certain amount of money in 'rice powder'. Shao Liming (pseudonym), which lost 80,000 yuan on Xiaomi’s recommended P2P platform, questioned the reporter of “International Finance News”. “With such a way of getting a visitor, can you use a simple phrase “pure advertising cooperation”?
A special researcher at the E-Commerce Research Center, Dong Yizhi, a lawyer at Shanghai Yida Law Firm, said in an interview with the International Finance News: 'China's financial institutions are basically licensed, but P2P is a special case, so how to promote it, There is no clear legal regulation on the diversion. If it is from the perspective of the Advertising Law, then the most critical requirement for Xiaomi is whether it has fulfilled the audit obligation, which requires the relevant departments to intervene in the investigation to know. But to be honest, the P2P industry In terms of development, even if the procedures are complete, it is difficult to identify whether it is legal and compliant.
'But if Xiaomi is not only a pure advertising publisher in the cooperation with the P2P platform, but is defined as an intermediary business service or a channel service, and so on, then Xiaomi needs to bear the corresponding responsibility. It is only the "Advertising Law", which is more in accordance with the financial supervision method. 'Dong Yizhi further pointed out.
Why does Meitu welcome the 'risk'?
Advertising revenue is attractive
Undecided, there will naturally be more criticisms. And while Xiaomi is still experiencing the pressure of public opinion, Meitu Xiuxiu is still on the line to give the P2P platform the function of diversion. In the P2P industry, Lei Lei is constantly erupting. Under the circumstances, I have to say that Mito Xiuxiu is really 'courageable.'
Recently, Meitu Xiu Xiu’s personal homepage has a wallet, and users can apply for a loan service. The “International Finance News” reporter tried to click on the advertisement column of Meitu Xiuxiu’s loan, and then jumped out through the 'Meitu account’. Authorized to log in to the 'Quin Niu Jinke' page. After logging in, there will be a 'Meitu user exclusive borrowing platform, the maximum loan amount is 50,000 yuan', 'pass rate is over 90%, as fast as 2 minutes to review, daily interest rate 0.05% From the 'advertising word.
The driving force for such great courage is naturally the 'interest temptation'. On December 15, 2016, Meitu Corporation (Hong Kong stocks 01357) was listed on the Hong Kong stock market. As of the end of June 2016, Mito accumulated losses of 6.3 billion yuan, minus the priority. The accumulated fair value loss and equity incentives of the stocks were adjusted to a total loss of 1.1 billion yuan. In 2017, Mito was still in a loss state, and the net adjusted net loss was 45.95 million yuan.
Because it is just the P2P platform diversion function, it is still unknown how much it can bring to Meitu. However, if you look at the income and profit status of Xiaomi, it may not be difficult to understand the courage of Mito Xiuxiu.
According to Xiaomi's prospectus, Xiaomi's main business is divided into three major segments, smartphones, IoT and consumer products, Internet services. Among them, 'advertising' is an important part of Internet services. In 2017, Xiaomi's overall revenue was 114.6 billion yuan, of which smartphones accounted for 70%, loT and consumer products accounted for 20%, and Internet services accounted for only 9%. Although Internet services accounted for a small proportion of revenue, their profit margins were high. However, from the perspective of gross profit, the gross profit margin of Internet services is much higher than other businesses. In 2017, this figure was 60.2%, 8.8% of smartphones and 8.3% of IoT consumer products. The ratio has a great advantage. The advertising gross margin is as high as 83.54%.
In addition to high gross profit margin, Xiaomi's advertising revenue growth rate is more attractive. From 2015 to 2017, Xiaomi's advertising revenue was as high as 1.821 billion yuan, 3.838 billion yuan and 5.614 billion yuan, with an average annual compound growth rate of more than 30%. 2018 In the first quarter of the year, Xiaomi’s advertising revenue reached 1.874 billion yuan, surpassing the total advertising revenue for the whole year of 2015. Among them, how much advertising revenue comes from its cooperation with the P2P platform cannot be obtained from public information. However, in recent years, P2P companies are absolutely impressed with their marketing and customer acquisitions.
Now Xiaomi has already released all the advertisements about P2P, which will affect the income of Xiaomi. On this issue, Xiaomi did not respond positively to the interview of the reporter of International Finance News. In fact, now Xiaomi not only faces The loss caused by the promotion of advertising under the P2P, the loss of a large number of 'rice' trust is likely to bring more serious losses.
In the prospectus of the public offering of depositary receipts submitted by Xiaomi to the regulatory authorities on June 7, the company has such a statement about the size of 'rice noodles': In March 2018, MIUI monthly active users were about 190 million, in the above active MIUI users. Among them, there are a group of enthusiastic users called 'rice noodles' who are loyal to the Xiaomi brand, actively participate in the millet platform, and actively provide suggestions for the company's product development. As of March 31, 2018, there are more than 5 Xiaomi Internet The number of 'rice noodles' for products (excluding smartphones and laptops) exceeds 1.4 million.