1. Poly adopted the proposal of the microfinance company.
Poly Microfinance Co., Ltd., now called "Poly Microfinance" in official website, first appeared in the announcement of 20 15. On May 7th of that year, Poly Real Estate announced that the company held the 16th meeting of the 4th Board of Directors on May 6th, and the Board of Directors agreed to pass the Proposal on Establishing a Small Loan Company. Specifically, Poly Real Estate and its wholly-owned subsidiaries Guangzhou Poly Real Estate Agency Co., Ltd., Poly Investment Holdings Co., Ltd. and its external unrelated shareholders will jointly set up a company to carry out microfinance business according to the equity ratio of 40%:20%:20%:20%. The registered capital is tentatively set at 200 million yuan, and the management is authorized to implement it. Small loan is different from its patient small loan company, and its business will fit the real estate business of Poly Real Estate. Relying on the 197 project and the sales performance of15 billion yuan owned by Poly Real Estate in China at that time, we developed a variety of financial instruments, which could provide services such as down payment and small loans, and extended policy support such as installment payment. At the beginning of its establishment, microfinance companies received much attention and occasionally acted openly. If it formally signs a contract with Tommy Tam Technology, a financial technology service provider, Tommy Tam Technology will build an Internet small loan platform for Poly and cut into its traditional real estate business scene.
Second, Poly Small Loan increased its capital.
At present, there are only five online microfinance companies with a registered capital of more than 5 billion yuan, the highest of which is Chongqing Ant Small and Micro Loan Co., Ltd., which is the main operator of Ant Garden with a registered capital of 654.38+0.2 billion yuan. In addition, Suning, a subsidiary of Chongqing Suning Microfinance Co., Ltd., has just reached the standard with a registered capital of 6 billion yuan. In other words, the registered capital of Poly Small Loan must be increased by 4.5 billion yuan to provide corresponding small loan business for upstream and downstream customers and buyers of most domestic projects.
To sum up, if Poly Small Loan wants to carry out more business, it needs to prepare more fund pools. Poly also stated in this announcement that this capital increase is mainly to meet the development needs of the company's microfinance business and improve the comprehensive strength and market competitiveness of the microfinance business.