Wuliang Advertiser

Wu Liang looked at Ma Mingzhe, who had to solve it, sighed, "selling policy?"

It is 58.8 billion, the insurance premium income of Life insurance, and 1.6 billion in the insurance premium income.

The 6 billion policy is not 10%.

At this time, China's letter insurance is still a small insurance company that is unable to be small, and the annual insurance income will not be up to 1 billion.

The only thing you want to do, the only thing you can do is the so-called chicken egg.

The truth is simple.

Insurance company profit model, death difference, cost difference and spread.

The death is the most basic probability statistics, that is, the so-called large number law.

For example, the 30-year-old young people mortality is eight, and one person will pay 100,000.

So, 10,000 people per person premium 80 yuan, then the insurance company will not lose money, if they die, the insurance company earned 200,000.

If the spread can be understood as a wealth management product, earn more, earn more business strategies, as for the insured will lose money, can be safe, Guojia stipulate that insurance is the only amount of all products One one.

For Appian, 6 billion premiums may create 300 million profits, remove the income of the policyholders, earn 200 million.

So for the Chinese letter insurance, you earn 200 million, I will make you profit 300 million, the premise is the 6 billion funds to me.

Recalling the development of the insurance industry in recent years.

Investment products Breakthrough from fixed income products to equity products, 1998 Insurance company joined the bank's intervals market, July 1999, purchase of central enterprises bonds in AA +, in July 1999, and in August insurance company can apply bond back in the same industry Buy, October can enter the securities market.

2004 can purchase stocks directly.

Investment Attributes Breakthrough from stock investment to equity investment, 2006 Insurance Company has completed the investment in the Bank of the Tianchao, Available in the Bank, Guangdong Development Bank, Tianxin Securities Equity.

Until in September 2010, the Tianchao Insurance Regulatory Commission announced the Interim Measures for Insurance Fund Investment Real Estate, stipulating the balance of insurance fund investment real estate, not higher than 10% of the company's total assets last quarter, insurance company may not directly engage in real estate development construction.

Then adjusted to 20%, so there is a battle for Baandan.

All in all, insurance is much better, not the bank of the bank's dry Baba, only know the weak sector of interest.

At this time, Wu Liang's pace is nothing more than a slightly radical.

The operation of Ma Mingzhe this is clear, the only difference is that Appian is a listed company and financial supervision is more stringent.

"This ..." Ma Mingzhe is three, or gives up this part of the intend, "small and small problems are not big, no six billion."

Wu Liang hits the snake, "How much is it?"

Ma Mingzhe scratched his head, "Selling 2 billion."

"The line! It is still 4 billion." Wu Liangyi hammer sound, then the eyes of Ma Mingzhe, "brain happened!"

Ma Mingzhe shakes his head, "Who said in 2000 billion before?"

Wu Liangzhao, he is not finishing 200 million funds, but funds are also required to consider capital costs.

Whether it is a securities or fund, however, there is no use cost of insurance funds, but Ma Mingzhe is in the risks and refuses Wu Liang's proposal.

Wu Liang scratched his head. "If you give me another year, don't say 20 billion, 50 billion, I can come out."

Just, say that these are really not too much, he is also purely a complaint.

But no matter what to say, Wu Liang is fulfilled in accordance with his own commitment.

Ma Mingzhe put his heart back in his stomach. The atmosphere at the scene was finally harmonious. He asked Wu Liang's plan about Pengcheng Development Bank.

Wu Liang really said, "a party is one control."

The so-called one control, that is, the so-called 1 + 1 principle, one institution or a number of institutional participation fund management companies controlled by the same actual controller must not exceed two, in which the number of controlling fund management companies must not exceed A family.

The initial restriction is set for foreign investment domestic securities companies, which are then involved in each financial industry that requires control.

Ma Mingzhe is somewhat strange, ask, "Wu Dong's funds are also foreign investment?"

Wu Liang shake his head, "prevention in advance."

To the understanding of the policy, Ma Mingzhe is more than a half, but he is a little understanding Wu Liang, "Do you say??"

Ma Mingzhe refers to the finger head.

"Yes, this is not a good news for some securities companies eager to listed."

For securities companies, one of the most important ways to expand capital is to list, remove such a maximum financing approach, and such securities companies can imitate.

Ma Mingzhe's attitude towards Wu Liang's view, he nodded, "The securities seem to be clear, the bank?"

Wu Liang smiled, "The introduction of policies is definitely related to the current status of the industry. In the universal banking industry, the banking industry that is generally deficient, it should not do too much restrictions, especially, the capital is very useful."

Ma Mingzhe is more sensitive to this news, which involves his site. "Currently invested stocks, the equity investment is let go, huh, huh."

Wu Liang smiled and pair in Ma Mingzhe and did not speak.

However, this is not to say that insurance funds cannot invest in equity, change the tricks, and Ma Mingzhe does not lack this means. Wu Liang will ask questions, "So, since the country is investing out, I top, foreign capital, foreign investment The ratio of less than 25%, the secondary market? "

This is the problem of the problem of the problem. It is also the reason for Mingzhe's so-called 11 billion funds. Compared with 10% of premium, Fenghui Bank must be able to get 20% of the highest holding ratio, 10% can only be said to be the bottom line, do not exclude Added 10%.

"Wu Dong's concerns I can understand, and do not rule out the possibility of investing in the price." Ma Mingzhe thought carefully, but also said his intention, "I intentionally, the bank, this is a reason."

The foreign-funded shareholding of Industry Bank has reached 25%, and it is almost impossible to get the control.

However, as a financial investment has not been tasted, as for the interpretation of the proportion of more than 25% of foreign investment, there is no similar situation, and the general probability may be negative.

Or, holding no more than 5%, can not reach the trip, and may be successful.

Or, the shares in foreign investment is also a road.

It's just that Ma Mingzhe revealed this news, let Wu Liang also couldn't touch his true intention, "the bank supervision department has reasonable explanation? 25% red line?"

"100 million shares, 2.5%, require not high?" Ma Mingzhe didn't matter.

Wu Liang smiled, "I am afraid that the bank doesn't think so. Do you say that there is a company to quit?"

"Qi Yi Sheng spit," exit? Is this stupid? "

She knows how much Wu Liang has abolished the 70 million shares of the Bank of China.

Wu Liang patiently explained her, "The banks on the banks in the city are so stable, and they can't stop the lonely contained shareholders!"

Ma Mingzhe laughed, "Wu Dong is also interested?"

Wu Liang laughs, it seems very casual explanation, "Ma Dong thought that Ji Li Bao was only for Jintong Securities?"

"Hey, how do you suddenly become a competitor?" Ma Mingzhe suddenly sold a good, "It's better to stir a bureau, help you?"

Wu Liang is thinking, "Is Marm's meaning?"

"I arrange people to let go of the wind, intentionally acquire the shares in your hand, then, huh, huh!" Ma Mingzhe is an explanation.

Wu Liang haha ​​laughed, applauded, "It is really more interesting to fight against Ma Dong."

Ma Mingzhe is willing to trial, when the stumbling block listed on the bank, forced the rest of the shareholders, this step has to be said very innocent.

As a regulatory authority, although there is no more than 20% of single foreign capital, all foreign capitals do not exceed 25% of the red line requirements, but there is no detailed explanation for indirect holdings.

If it is, Appian has released such a wind, and the impact on the market is tantamount to the quiet water, and the regulatory level is "under the presence of the leadership" because there is no precedent.

As for when to study?

This is not allowed.

Perhaps six months, per hour.

It is true that this will slow down the footsteps of the bank's listing, but compared with it, forced other shareholders to leave the shares in their hands, which is more confident.

Wu Liang and Ma Mingzhe were extremely tacit and did not talk about the value of this part of the shares. However, it can be clear that two people are optimistic about the banking bank.

Wei Daxin in the whole way is in the next long time cannot be a magnificent wave.

In the past, he thought that it was almost the peak in his life from Zhejiang Energy to Guixin Holdings. He followed Wu Liang went to see a hand of appresses. The feeling is that his peak may still be high. Putting a layer.

The more days of contacting Wu Liang, the more clear the feelings of Wei Daxin.

Take the Internet hot vine, A raccoon, the same three or six zero, the big Pingyang computer network, thousands of 100 companies, once the listing, Wu Liang's personal assets can reach the horror of 100 billion.

In addition, after leisure, he also measures the assets of Luo Mode Group.

Invested 420 million, won 50% of the shares, and livelomolbolue assets, according to the news, the company's output value of this company reached a billion problem, 3 billion profit, 3 billion yuan.

According to the earnings per share, the P / E ratio calculates 10 times, the market value can reach 30 billion.

Helpless is a three-year profitable hard bear, the fastest listing, and only by zero seven years.

So, after two years, what is the development of Lo-molybolue?

Wei University is really died.

Especially such mining companies, Wu Liang has two.

Leverail!

Wei Daxin looked at Ma Mingzhe and Wu Liang to discuss it for 100 million small trading discussions, always feel that things should be like that he thinks.

The assessment price given by the Industry Bank, the assessment price given in 2 8, a small project of 2003 million, two people talk about the smile, and the smile of the thief, Wei Daxin feels some subversion, until he heard it seems Some people are calling him, "Great New Total? What is it?"

Wei Da's new, this important occasion is actually god, he is busy standing up, "Just recalling the rocker high-speed trust project, what else is nothing to do, sorry."

Wu Liang put his hand, "What advice do you have in the shares of Pengcheng Development Bank?"

Wei Daxin gradually retrieved the focal length, meditation, gave his own opinion, "Guoxin, trust investment temporarily not considering, the previous rocker high-speed project is still raising funds, short-time stress is relatively large.

In addition, the trust plan does not have legal qualifications, nor does it comply with the regular commission on the number of shareholders and information disclosure in the listing of the listing, which will of course bring out the obstacles after IPO. "

This is very professional, Wu Liang is not self-point, he considers another thing, it is the problem of money.

There is no doubt that the security is holding.

The company is going to develop, and the profit generated by many companies in Guoxin is too slow, especially if this is obviously a fragrant thing to hand it over to wealth management products.

Wei Daxin next, "there is no doubt that Wu Dong chooses to invest in Pengcheng Commercial Bank. It is not a controlling, but the shares I have just mentioned, even if the profit, whether it is divided, so, It is also a problem with the funds raised by the financial project.

So, of course, of course, it is self-funded, or an existing shareholder of China Jense Holdings is an investment entity. "

To put it bluntly, this project is either Guxin Holdings, or Liang Lei Fund is coming, even if it is a backwered investment.

Just like what I said, the subject of investment is divided into three parts. Part is the Yuan Zhuo Fund, part of the Chinese investment company, and some of the insurance funds of Guoxin.

According to the Pengcheng Development Bank withdrawn from the shares held by the shareholders, 17.89%, 347 million shares.

Xinqiao Investment Quotes $ 3.55 per share, the price is more than 60% percentage of net assets per share in the middle of Pengcheng Development.

However, this is the first listed company in Tianchao Peng City. The stock price is much higher than 2.18 even more than 6 yuan.

Buying a price below the secondary market is earning, nothing more than a time cost, five years.

Xinqiao Investment can promise, Wu Liang, can still promise.

In the case of other people do not look at Pengcheng Development Bank, take out more than one billion, right to buy stocks, Wu Liang's calculation is nothing more than funding costs.

Wu Liangxiao laughs, "The analysis is good, how does Yan Dong considerate?"

Yan Yi Sheng became the actual control of the National Jense Holdings. Although he also considered Lianghui Fund, he asked her, but she could no longer say things.

This is certainly determined by the nature of Lianghuo.

Liang Lei Fund has started to be a pure investment company, and there are several people from Wu Liang and Bai Wei and its super-running club.

Before the acquisition of Jianli Baoyu, the new investment company was invested by Lianghui Fund, and the name is Liangzheng investment, and the legal person is white.

After the acquisition of Jianli Bao, sell Jianli Bao's industrial assets, and the Yintong Securities is calculated as a subsidiary of Liangzhu.

The fund business is a wholly-owned subsidiary of Jinotong Securities and has a public fund license.

Calculate two companies.

Such a company has a relatively complicated structure, so white operation is to directly use the Jinotong Fund as a subsidiary of Liangzhu Investment and Jintong Securities, oriental wealth.

Acquisition of the National Jense Holdings and use also Yiang Yizhen.

Yan Yi Sheng is to know that Wu Liang wants to set the seven financial cards to call the plan of Shenlong, so she is prioritized or the main body of China, "Trust and insurance are not good, then private equity!"