Since the establishment of Oriental Fortune Network in 2005 and the launch of "Share Bar" the following year, the company has focused on financial data services and advertising business, and accumulated a huge traffic base in the process.
Subsequently, the company began to actively seek ways to realize the flow, and finally obtained the fund sales qualification of its subsidiary Shanghai Tian Tian Fund Sales Co., Ltd. on 20 12. Since then, the fund business has quickly become the main source of profit.
Later, due to the intensified competition in the industry, the agency rate of the fund gradually declined. On 20 15, the company acquired Tibet Tongxin Securities, officially entered the securities field, and began the second transformation. In 20 19, the income from securities business became the largest income source of the company.
20181kloc-0/0. Oriental fortune securities was approved by China Securities Regulatory Commission to invest 200 million yuan to establish Tibet Cai Dong Fund Management Co., Ltd., a wholly-owned subsidiary. The landing of the Public Offering of Fund license marks that the company has obtained the key to enter the third stage of the wealth ecosystem, and officially opens a new era of wealth management.
Three transformations: The company experienced three transformations in the development process, each of which profoundly changed the company's revenue structure.
① Fund consignment: By providing financial media services and relying on the customer resources and brand influence accumulated by Tian Tian Fund Network since 2007, after obtaining the first batch of third-party fund sales qualifications in 20 12, the number and business scale of online funds of Tian Tian Fund increased rapidly, which can be described as the first time to realize the accumulated Internet traffic.
(2) Retail securities: Due to the intensified competition in the industry, the fund commission rate has gradually declined, which can be proved by two data. In 20 15, the company's consignment funds reached 743.3 billion yuan, and its consignment income was 2.44 billion yuan. In 20 19, the commission scale was 658.9 billion yuan, accounting for about 90% of the fund commission scale in 20 15, but the commission income was only12.4 billion yuan, about 215. As a last resort, the company can only start the road of transformation again.
③ Public Offering of Fund: At present, traditional brokers pay more and more attention to Internet finance, and some traditional brokers have also made great progress in the number of active users of APP. For example, Huatai Securities has 25 million monthly active users, accounting for 63% of the company.