According to media reports, on the evening of September 11th, science and technology innovation board, the Shanghai Stock Exchange, published the prospectus of Jingdong Mathematics. Jingdong Mathematics Department plans to issue no more than 538 million shares through science and technology innovation board, accounting for no less than 1% of the total share capital after issuance, and plans to raise a total of 2.367 billion yuan.
In fact, the company that Jingdong Mathematics Department should target most is Alibaba Cloud, which is the case from the business direction, but many articles on the Internet target Ant Technology, because Jingdong Mathematics Department evolved from Jingdong Finance after all. Of course, the business scope of JD.com is partly related to Alibaba Cloud and Ant Technology, but not the same.
JD.com disclosed three major business segments for the first time, namely, digital solutions for financial institutions (To F), digital solutions for merchants and enterprises (To B) and digital solutions for governments and other customers (To G). In the first half of 22, the operating income of these three businesses accounted for 41.48%, 52.37% and 5.57% respectively.
In reply to the inquiry of the Exchange, Ant Group said that its main business sectors include digital payment and merchant services, digital financial technology platform, innovative business and others.
In the progress of listing, Ant is temporarily ahead of JD.com.
From the progress of listing, JD.com started early, but the progress seems to fall behind Ant Technology. However, because Ant Technology wants to be listed in both A and H, it is not easy to make a final decision on who will land in the capital market first. For JD.COM Mathematics Department, it is obviously quite important to be listed before Ant Technology.
On July 1st, the website of China Securities Regulatory Commission published a series of documents on the listing guidance of JD.com in science and technology innovation board. It was not until July 2th that Ant Group announced that it would start the plan of seeking simultaneous issuance and listing in science and technology innovation board and the Hong Kong Stock Exchange. Ant Group has submitted a prospectus to Hong Kong stocks and science and technology innovation board, and the audit status of science and technology innovation board has been updated to "inquired" on August 3th. Jingdong Mathematics has just been accepted by the Shanghai Stock Exchange. The IPO process of Ant Group came from behind, and the counseling brokers were CICC and CITIC Jiantou. From August 25th, when the application of Ant Group in science and technology innovation board was accepted, to September 9th, when two rounds of inquiries were completed and the meeting was notified on September 18th that night, the whole IPO review of Ant Group in science and technology innovation board took 25 days.
Ant's revenue is about seven or eight times that of JD.com, and the profit gap is too obvious.
Look at revenue. According to JD.com's prospectus, from 217 to 219, JD.com's revenue was 9.7 billion yuan, 13.616 billion yuan and 18.23 billion yuan respectively. In the first half of 22, the revenue was 1.327 billion yuan.
Similarly, in 217, 218, 219 and January-June of 22, Ant Group achieved operating income of 65.396 billion yuan, 85.722 billion yuan, 12.618 billion yuan and 72.528 billion yuan respectively. In other words, the revenue of Ant Group is about seven or eight times that of JD. Tencent released the semi-annual report in 22, showing that Tencent's financial technology sector achieved operating income of 56.337 billion yuan in the same period.
JD.com started to turn losses into profits in 218, and the net profit attributable to shareholders of the parent company in that year was 13 million yuan. During the reporting period (from 217 to the first half of 22), JD.com's operating income was 9.1 billion yuan, 13.6 billion yuan, 18.2 billion yuan and 1.3 billion yuan respectively, maintaining rapid growth; The net profit was-3.82 billion yuan, 13 million yuan, 79 million yuan and-67 million yuan respectively, which fluctuated greatly. The profits of Ant Group in the reporting period were 8.25 billion yuan, 2.156 billion yuan, 18.72 billion yuan and 21.9 billion yuan respectively.
Who has more money? Ant class 1 billion, JD.com class 1 billion
By June 3, 22, the balance of cash and cash equivalents in JD.com was 11.7 billion yuan.
on June 3, 22, Ant Technology had a monetary fund of 14.723 billion yuan.
There are great differences in the number of users, including C-side and B-side
In terms of users, there is no detailed data on the number of users of Jingdong Digital Branch, but the number of users of JD.COM Group exceeded 4 million in the second quarter of 22, because quite a few users use WeChat to pay for shopping in JD.COM, and the online banking purchased from JD.COM has geographical restrictions. Obviously, the number of users of Jingdong Digital Branch will not be too large.
Ant Group disclosed that by June 22, Alipay APP had 1 billion annual active users, 711 million monthly active users, more than 8 million monthly active businesses and more than 2, cooperative financial institutions, making it the largest life service/business app in the world.
There is no comparability in payment ability and market share
In addition to digital payment services, Alipay platform provides digital financial services and digital life services at the same time, and Alipay APP has covered more than 1, kinds of daily life services and more than 2 million applets.
According to the Ant Prospectus, during the 12-month period ending June 3, 22, the total payment transactions completed through the company platform reached 118 trillion yuan. In the same period, the transaction amount of digital payment in China was 21 trillion yuan, and the transaction scale of Alipay Group exceeded 55%.
In this data, the data of JD.com is unknown, but the data of third-party monitoring institutions show that the market share of Alipay and WeChat exceeds 93%, leaving less than 7% for all other payment institutions.
The transaction of core financial business is not an order of magnitude
The total balance of consumer credit and micro-business credit contributed by the micro-loan technology platform of Ant Group reached 2.1 trillion yuan, the asset management scale contributed by the financial technology platform reached 4.1 trillion yuan, and the premium and allocation amount contributed by the insurance technology platform reached 51.8 billion yuan.
According to the prospectus, the loan scale facilitated by JD.COM Gold Bar in each reporting period was RMB 13.685 billion, RMB 255.492 billion, RMB 458.915 billion and RMB 261.217 billion respectively. For the IOUs that are more familiar to users and the market, the prospectus does not disclose the loan scale data. It is estimated that by the end of 219, the loan balance of gold bars and white bars in JD.COM will be about 5 billion yuan. According to the prospectus of Ant Group, the balance of consumer credit by the end of June 22 was 1,732 billion yuan, and there was an order of magnitude gap between them.
According to the prospectus of Ant, its micro-loan technology platform products such as flower buds and borrowing buds earned 28.586 billion yuan in the first half of 22. In February 214, the revenue of "JD.COM White Bar" reached 1.794 billion yuan, and in the first half of 22, the revenue of scientific and technological services realized by JD.COM Gold Bar reached 2.636 billion yuan.
The R&D investment capacity and proportion are large, but the gap is not small
According to the prospectus of Jingdong Mathematics Department, as of June 3, 22, there were 9,989 employees in Jingdong Mathematics Department, among whom R&D personnel and professionals accounted for about 7% of the total employees of the company. In the first half of this year, JD.com's R&D investment accounted for 15.67%, ranking second only to SMIC among the companies with annual revenue exceeding RMB 1 billion in science and technology innovation board, and exceeding 95% in the whole A-share market. This shows that Jingdong Mathematics is very "scientific and technological".
In 219, the annual R&D investment of Ant Technology reached 1.62 billion yuan, equivalent to half of the R&D expenditure of more than 13 science and technology innovation board new shares in 219. 4% of the funds raised by this IPO will be invested in supporting innovation and technology, and 3% will be invested to help upgrade the digital economy. At the same time, according to the prospectus, as of the end of June 22, among the 1,646 employees of Ant Group, technology research and development personnel accounted for more than 64%.
In 217-219 and the first half of 22, the R&D expenses of Jingdong Mathematics Department were 1.78 billion yuan, 1.743 billion yuan, 2.567 billion yuan and 1.619 billion yuan respectively, accounting for 11.88%, 12.8%, 14.1% and 15.67% of the operating income respectively. Due to the larger revenue scale, the overall amount of research investment of Ant Group is also more, reaching 4.789 billion, 6.93 billion and 1.65 billion respectively, which has always been maintained at about 4 times that of Jingdong Mathematics Department.
By the end of June, 22, the big data risk control system of Jingdong Digital Science Service Financial Institutions had accumulated more than 1, models, more than 1, risk strategies and 47 million daily decisions. In terms of technical capabilities of payment services (including transaction processing capabilities, security and risk management capabilities, etc.), the peak payment processing capacity of Ant Group reached 9.459 million times per second during the "Double Eleven" Global Shopping Carnival in 219. The ant's risk control system is called "Ant Shield". How strong is this system? You can see clearly that Alipay often does some online promotions that other companies dare not do, and the coupons after the epidemic in 22. Most local governments choose Alipay without being afraid of being bonus hunter.
In terms of technology patents, ants have owned 26, patents, 26 self-developed core technologies and 18 world-class awards. In terms of database, ant's self-developed database OceanBase has the highest performance test in the world, and in the accumulation of blockchain technology related to financial strength, the number of blockchain patent applications of ant chain has also reached the first place in the world, and it has begun to be commercialized. The list of global enterprise blockchain invention patents in the first half of 22 released by IPRdaily and incoPat Innovation Index Research Center shows that Alibaba (including Ant Group) continues to rank first with 1457 patents, and the total number exceeds the sum of 2, 3 and 4. Ranked second is Tencent, with 872 pieces.