Group 1: Financial Risk Management - The company has implemented a "Principal Protection Plan" to safeguard investors' interests, which includes a risk reserve fund amounting to 1.5% of the loan amount for transactions under this plan [2][3] - Last year, the company completed 20,000 loans without any bad debts, attributed to a comprehensive risk model that excludes high-risk cities and developers [3] - The risk assessment includes analyzing borrowers' professional backgrounds, income levels, and annual bank statements to determine creditworthiness [3] Group 2: Property Management Expansion - The company has entered the property management sector, focusing on office buildings and parks, with potential clients like ZTE Communications in discussions [3] - This sector is seen as a significant growth opportunity, especially in light of increased sensitivity among foreign companies post-Snowden [3] Group 3: Future Growth Strategies - The primary growth point for the company is expected to be in financial services, with a goal to evolve into a platform company [3][4] - The company aims for its mobile app to achieve over 2 million daily clicks, positioning it among the top 200 applications in China [3] - The integration of services such as property valuation, sales, rentals, and financial investments is anticipated to enhance user engagement and capitalize on the growing financial awareness among Chinese households [4]

Group 1: Business Strategy - The company summarizes its strategy with "twelve characters," focusing on "pan-trading," which includes traditional new housing agency services and aims to expand into bulk trading and post-transaction services [2] - The second business segment is "quasi-financial," emphasizing the need for financial support in any transaction, particularly in the second-hand housing market [2][3] - The third segment is "large asset management," which includes property management and enterprise service management, with notable clients like Xiaomi and Baidu [2][3] Group 2: Market Position and Competition - The company has initiated the "Xiaoyang Community" project, managing five cities and planning to acquire Shanghai Shengyao, which manages nearly 100 communities [3] - The second-hand housing market is highly competitive, with no agency achieving over 20% market share outside Beijing, primarily dominated by small community agencies lacking financial support [4] - The company aims to enter the second-hand housing market through financial services, leveraging its status as a listed company and its micro-lending license [4] Group 3: Financial Performance and Projections - The company projects to achieve 700 million in sales this year, having reached 430 million in the first three quarters [3] - The industry is experiencing a shift away from reserve-style contracts, with a decrease in signing volume in the first half of the year [3] - The company emphasizes the importance of scale and refined management in the agency industry, as market share increasingly consolidates among larger firms [3][4]

Group 1: Market Overview and P2P Insights - The current P2P market is characterized by a mix of good and bad players, with government initially adopting a tolerant and open attitude towards financial innovation [2] - Government guidelines emphasize avoiding the creation of fund pools, focusing on matching borrowing and lending, maintaining P2P as an information platform, and ensuring third-party supervision [3] Group 2: Development and Risk Management - The P2P system is still in the development phase, with careful selection and assessment of technology [3] - There are two types of P2P development: one by internet companies leveraging technology, and the other by traditional lending companies utilizing expertise; collaboration between both is seen as ideal [3] - Default rates are reported to be less than 0.1%, with low risks associated with short-term loans for essential housing needs [3]

Market Overview - The new housing agency market share is currently around 3%, with expectations for growth as larger developers dominate the market [2][3] - The overall real estate market in China is valued at approximately 7 trillion RMB, indicating significant potential for growth for leading companies like the subject company [3][4] Company Performance and Strategy - The company holds a market share of approximately 4.4%, which is considered small relative to the overall market size, suggesting ample room for growth [3][4] - The company aims to double its market share, aligning with the growth trajectory of major developers [3][4] - The company has launched three mobile applications targeting different user groups, with a goal to enhance user engagement and service frequency [4][5] Financial Services and Risk Management - The company has issued around 2 billion RMB in loans through its financial services, with a focus on maintaining a low default rate [4][5] - The risk management strategy emphasizes understanding borrower behavior, particularly in the context of real estate purchases, which are deemed low-risk [4][5] - The company aims to control the risk of its P2P platform and small loan business, targeting a default rate below 0.01% [4][5] Competitive Landscape - The company recognizes the increasing competition in the new housing market, with smaller agencies struggling to survive [3][4] - The competitive strategy includes deepening service offerings and embracing mobile internet technologies to enhance customer experience [3][4] - The company is exploring partnerships with major platforms like SouFun to leverage their traffic and enhance service delivery [8][9] Future Outlook - The company anticipates a 30% increase in revenue and a 10% increase in profit for the current year, driven by new product offerings and strategic partnerships [13] - The focus for the upcoming years includes expanding into the second-hand housing market and enhancing asset management capabilities [12][13] - The company is cautious about entering new markets, preferring to avoid "bloodbath competition" and instead focus on providing quality services [12][13]

Group 1: Financial Business Progress - The financial business has achieved a loan issuance share of 7.23% in 2014, a significant increase compared to the previous year [2] - Financial business revenue reached 159 million RMB in the first three quarters, accounting for 4.24% of total revenue, indicating a successful transformation strategy [2] - The overall loan amount increased to 10.5 billion RMB, showing a growth of 374% since the beginning of the year [2] Group 2: Future Developments - The introduction of MBS (Mortgage-Backed Securities) is expected to alleviate banks' capital adequacy pressure, leading to increased credit availability and higher transaction volumes for the company's agency business [3] - REITS (Real Estate Investment Trusts) will enhance the company's asset management business, as packaged assets will require professional property management, positioning the company as a suitable candidate [3] - Both MBS and REITS are anticipated to take time for large-scale development under the current policy environment [3] Group 3: Overseas Property Ventures - The company has launched an overseas property platform called "World Residence," featuring properties in the USA, UK, Canada, and Australia, with the highest unit price around 120 million RMB [3] - Recent promotions to high-end clients have received positive feedback [3]

证券代码： 002285 证券简称：世联行 1 深圳世联行地产顾问股份有限公司投资者关系活动记录表 编号：20151211 | --- | --- | --- | |-------------------------|-------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系活动 | √ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单 ...