新规将至 助贷行业迎来大变局

Core Viewpoint - The introduction of the "New Lending Regulations" is expected to significantly impact the high-interest lending sector, leading to a potential exit of many platforms from the market due to increased costs and regulatory pressures [1][6][10]. Industry Overview - The current scale of the lending industry is approximately 3 trillion to 4 trillion yuan, with high-interest lending accounting for about 25%, indicating a potential impact of over 1 trillion yuan on the market [3]. - The high-interest lending business, which operates within a 24%-36% interest rate range, is facing a fundamental shift as banks withdraw funding and raise costs [4][14]. Regulatory Impact - The "New Lending Regulations" will take effect on October 1, 2025, and will include stricter calculations of comprehensive costs, which will challenge the survival of high-interest lending platforms [1][6]. - Many banks have already begun to withdraw from high-interest lending partnerships, citing increased regulatory risks and the need for compliance [3][4]. Cost Dynamics - Funding costs for high-interest lending platforms have surged to 10%-14%, with some platforms even quoting rates as high as 14% to retain bank partnerships [4][5]. - The profitability of high-interest lending is declining, with profit margins dropping to less than 6% due to rising costs associated with funding, customer acquisition, and operational expenses [5][10]. Market Restructuring - The industry is undergoing a significant restructuring, with smaller platforms facing pressures from increased qualification requirements and funding cooperation thresholds [6][12]. - Many high-interest lending platforms are considering a shift to lower-interest lending (below 24%), which requires a complete overhaul of their business models, customer acquisition strategies, and risk management frameworks [11][12]. Competitive Landscape - Leading lending platforms are less affected by the regulatory changes due to their focus on lower-interest lending and stronger risk management practices [2][14]. - The concentration of the lending industry is expected to increase as stronger platforms leverage their compliance and technological advantages to capture market share during the ongoing industry shakeout [15].