此外，近期东融也连续获得多项重磅奖项，包括"2025年度金融向善引领奖""2025年度金融科技领航 者"等年度重磅奖项。这些荣誉不仅印证了公司在金融科技领域的创新实力与领先地位，更凸显了东融 坚守合规、助贷向善的品牌担当。 作为长三角重要经济中心，苏州一直是东融战略布局的核心城市之一。本次全城覆盖的品牌曝光，不仅 增强了本地用户对助贷服务的信任感，也为后续业务拓展与全国品牌宣传奠定了扎实基础。东融助贷凭 借"线上科技赋能+线下专业服务"的双轮驱动模式，持续为个人与企业提供高效、便捷、可靠的贷款解 决方案。 本次投放注重场景化精准触达：跨街大牌抢占城市主干道视觉焦点，社区道闸与电梯媒体深入居住与办 公场景，智能屏则覆盖消费与商务高频区域，共同构建多层次、沉浸式的品牌接触体系。通过简洁有力 的视觉与文案，东融助贷持续传递"找贷款，选银行，就找东融助贷"的核心价值，进一步强化公众对正 规助贷服务的认知。 12月，东融助贷在苏州正式启动大规模品牌广告投放，覆盖户外跨街大牌、社区道闸、电梯框架与智能 屏等多元场景，全面渗透城市核心商圈、交通枢纽与生活空间，形成高密度、立体化的品牌曝光网络。 此次苏州区域广告投放，是东融 ...

利率下行趋势挤压了助贷平台的盈利空间。平台原本可覆盖坏账代偿的利润空间被压缩，盈利能力持续 承压。这一变化直接导致此前助贷平台向银行作出的"兜底承诺"失效，保障银行资金安全的合作难以落 地。有助贷机构对记者表示，模式调整后，自己所在的机构每季度利润将缩减几亿元。 本报（chinatimes.net.cn）记者付乐 北京报道 中国助贷行业历经十余年发展，已深度嵌入中国金融体系，成为不可或缺的组成部分。当前，正处在行 业格局交织的复杂背景下。随着"助贷新规"落地，曾帮助中小助贷平台对接银行资金的"兜底"模式难以 为继，行业加速从"重规模"向"重质量"转型。头部助贷机构凭借合规优势和技术能力占据合作主导地 位，中小平台被迫寻求转型，而中小银行则陷入优质客群争夺、高风险客群处置两难的困境，重建自主 风控体系成为全行业破局的关键。 "兜底"模式不再 回溯行业发展，"兜底"曾是中小助贷平台撬动资金的杠杆。这里的"兜底"，是指助贷平台向银行等资金 提供方作出承诺，对双方合作产生的坏账，也就是借款人出现逾期、无力还款等情况导致的资金损失， 由助贷平台承担全额或约定比例的代偿责任，以此保障银行的资金安全。 在监管政策尚未细化的 ...

网络助贷行业 丨研究报告 核心摘要： 《2025年中国网络助贷行业研究报告》，以"特殊时期-历史使命-群体价值-未来趋势"为核心脉络，解析 行业发展逻辑。报告指出，数字经济推动下，2025年中国网民达11.2亿，信贷成居民日常，2024年不含房 狭义消费贷余额21.7万亿；互金助贷2024年规模3.5万亿，CR5达76%，以增信、分润为主要模式，风 控、资金获取与获客为核心能力。基于5285人调研，借新还旧与大额消费用户为行业深度客群，需求及信 息敏感度存差异。面对监管新规，24%以上业务利润或降3%-6%，平台需转向24%以下业务或拓展多元金 融服务，为行业合规化发展提供方向。 不可阻挡之势 数字的生产资料属性被夯实，科技无意间开启的社会迭代 根据国家互联网中心的统计数据， 2004 年中国网民总数不足 1 亿，但是截至 2025 年这一数字已经 上升到 11.2 亿。其中 2006 年到 2015 年这十年是网民增长速度最快的十年，也是数字经济在人们 尚未有所反应时，迅速重塑中国社会的十年。改变起始于用户获知信息的方式，深化于社会经济生 活的模式。 金融，作为链接各类型经济主体的线索，也在这场变革中悄然改 ...

Core Viewpoint - Yongyirong is a professional institution focused on financing, loan assistance, and operational loans, effectively addressing funding challenges for various clients and supporting their stable development [2][9]. Financing Services - Yongyirong has extensive financing channels and industry resources, allowing for tailored financing solutions based on client needs, whether for business expansion, project investment, or personal consumption [5]. - The company has successfully provided financing services to numerous enterprises and individuals, alleviating their financial pressures [5]. Loan Assistance Services - Yongyirong has established a professional loan assistance team to guide clients through the entire loan process, enhancing efficiency and convenience [5]. - Client feedback indicates that the approval rate for loans has significantly increased, and the loan processing time has been greatly reduced due to the company's assistance [5]. Operational Loans - Operational loans are a core business area for Yongyirong, crucial for the normal operation and development of many small and medium-sized enterprises [5]. - The company focuses on innovating and optimizing operational loan products to meet diverse business needs, offering competitive interest rates and flexible repayment options [5]. Integrated Service Model - Yongyirong demonstrates strong integration capabilities by combining financing, loan assistance, and operational loans into a one-stop financial service, improving service efficiency and reducing financing costs for clients [7]. Risk Control - The company has established a comprehensive risk assessment system to ensure the safety and profitability of funds, conducting strict reviews for each loan [7]. - Yongyirong collaborates with multiple financial institutions to mitigate market risks and protect client rights [7]. Customer Service Experience - Yongyirong has developed a robust customer service system, providing 24/7 online consultation to address client inquiries and ensure a seamless service experience [7]. Brand Image and Market Position - In a competitive market, Yongyirong has built a strong brand image in the financing, loan assistance, and operational loan sectors through its professional service team and efficient processes [7]. Future Outlook - Yongyirong aims to continue enhancing service levels and innovating financial products while adapting to market changes and industry trends to become a leading enterprise in its field [8].

Core Viewpoint - The implementation of the new regulations for the lending industry on October 1 marks a new starting point for the standardized development of the sector, aiming to clarify the comprehensive financing cost range and address existing issues in the market [1][4]. Summary by Sections Issues in the Lending Industry - The lending industry has seen various problems arising from profit-driven motives, including excessive charges disguised as consultation and guarantee fees, leading to inflated comprehensive financing costs [1][2]. - The "dual guarantee" phenomenon is prevalent, where the actual annualized interest rates for lending products range from 24% to 36%, with part of the fees hidden under different service charges [2][3]. Market Response to New Regulations - Following the new regulations, many lending platforms have ceased offering products with annualized interest rates exceeding 24%, and several institutions have begun to clearly display their interest rate ranges on their platforms [3][4]. - The new regulations require a clear delineation of comprehensive financing costs, prompting lending institutions to prioritize compliance and reduce interest rates [2][3]. Industry Transformation - The lending industry is undergoing a significant transformation, with 31 licensed consumer finance companies disclosing their lending partners in compliance with the new regulations [4]. - According to a report by iResearch, the growth rate of lending businesses with annualized interest rates above 24% has dropped from 34.1% to 8.6%, indicating initial effects of compliance rectification [4]. Future Directions for the Lending Industry - The future of the lending industry lies in focusing on loans with comprehensive annualized interest rates below 24% and transitioning towards comprehensive financial services [5]. - Competition in the lending market is expected to shift from mere scale and traffic to a focus on risk management capabilities, financial technology strength, and refined customer operations [5].

Core Insights - October marks the implementation of the new regulations for the lending industry, specifically the "interest rate red line" which caps annual interest rates at 24%, leading to significant adjustments in product offerings and operational models across the industry [1][3][4] Industry Overview - The lending industry is entering a period of deep restructuring as institutions adapt to the new regulations, with a focus on compliance and the need to lower interest rates [1][4] - Major platforms are increasing their marketing efforts to capture quality customers with interest rates below 24%, resulting in rising customer acquisition costs [1][11] Regulatory Changes - The new regulations have prompted many lending platforms to stop offering products with interest rates exceeding 24%, indicating initial compliance efforts [5][12] - The industry is witnessing a shift where platforms are unbundling previously tied "equity products" from the borrowing process due to heightened regulatory scrutiny [13][15] Market Dynamics - The overall transaction volume in the lending sector is declining, with some smaller institutions experiencing a significant drop in transaction amounts [2][11] - The competition for customers with interest rates below 24% is intensifying, leading to increased operational pressures on smaller platforms [12][25] Product Adjustments - Many platforms are revising their product offerings to comply with the new regulations, including the removal of high-interest products and the restructuring of equity-related services [19][24] - The industry is exploring new revenue models to replace the income lost from high-interest products, with a focus on compliance and customer retention [13][25] Future Outlook - The lending industry is awaiting further regulatory guidelines to clarify compliance requirements and operational standards, which are expected to shape the future landscape of the sector [26][27]

Core Viewpoint - The new regulation on internet lending by commercial banks will take effect on October 1, aiming to enhance financial service quality and efficiency, with over 20 financial institutions already announcing their lending partnerships to comply with the new "list management" requirement [1][2]. Group 1: Regulatory Impact - The new regulation emphasizes a "list management" approach for lending partnerships, leading to a concentration of partnerships among major platforms like Ant Group and JD.com [1][2]. - Compliance adjustments are seen as a trend, with institutions indicating that the new rules will not be a definitive turning point but rather a part of ongoing dynamic adjustments [1][6]. - The performance of lending institutions in Q3 and Q4 is expected to be impacted, particularly for those with a high proportion of equity income, potentially leading to short-term performance challenges [1][6]. Group 2: Institutional Participation - As of September 25, 24 financial institutions have disclosed their lending partnership lists, including 6 foreign banks, 6 joint-stock banks, 4 city commercial banks, and 3 rural commercial banks [2]. - Foreign banks are actively entering the Chinese retail financial market, particularly in consumer credit, leveraging their global risk management experience and cost advantages [2][6]. - The cooperation models among institutions include not only traffic diversion but also joint loans, guarantee enhancements, payment settlements, and overdue collections [2][3]. Group 3: Market Dynamics - The "head effect" is prominent, with major internet financial companies dominating the partnership lists, indicating a shift from a phase of rapid growth to a competitive ecosystem favoring stronger players [4][5]. - Smaller lending institutions with less traffic advantage and questionable compliance are likely to be phased out as the industry consolidates [5][6]. - The performance of leading platforms like Qifu Technology and Xinye Technology remains strong, with significant year-on-year profit growth reported [6]. Group 4: Future Outlook - The new regulation may lead to a significant contraction in lending activities, particularly in September, as institutions adjust to compliance requirements [6][7]. - There is a call for maintaining dynamic vitality in the lending industry, suggesting that the disclosure of partnership lists should not become a barrier to market entry [7].

Core Viewpoint - The article highlights the ongoing issue of fraudulent financial advertisements on social media platforms, particularly focusing on the rise of "agent insurance cancellation" and "credit loans" scams, which pose significant risks to consumer rights and financial stability [1][10]. Group 1: Regulatory Concerns - Regulatory bodies have repeatedly warned about the prevalence of fraudulent activities in the financial sector, emphasizing the need for strict enforcement against intermediary institutions and online channels engaging in illegal practices [1][12]. - The financial regulatory authorities have pointed out that some insurance cancellation agents exploit consumer grievances for profit, undermining both consumer rights and market stability [1][12]. - Despite multiple warnings from regulators over the past two years, the issues persist, with platforms like Xiaohongshu becoming new breeding grounds for financial scams [1][10]. Group 2: Mechanisms of Fraud - On Xiaohongshu, users can find numerous posts disguised as "experience sharing" that promote insurance cancellation and loan assistance, often written in a relatable tone to evoke emotional responses and anxiety [2][3]. - The operational model of these scams typically involves creating a narrative of personal hardship, leading users to believe in the availability of solutions through private messaging or WeChat [2][3]. - Users are often misled into paying high service fees or are directed to unlicensed financial institutions, resulting in significant financial losses [2][3][8]. Group 3: User Experiences - A consumer shared an experience where they were promised maximum recovery of losses through an agent, only to end up paying nearly 10,000 yuan in fees, which was much higher than expected [3][8]. - Many posts on Xiaohongshu provide misleading information about debt negotiation and repayment extensions, often leading users to believe that their debts can be easily managed or erased [4][8]. - Complaints on various platforms indicate that users frequently pay fees for services that are never rendered, with ongoing harassment from debt collectors [8]. Group 4: Platform Responses and Challenges - Xiaohongshu has announced the establishment of a financial content governance team to combat fraudulent financial advertisements through manual reviews and algorithmic detection [10]. - The challenge lies in the sophisticated methods employed by scammers to evade detection, as fraudulent content often appears legitimate at first glance but reveals its true nature during user interactions [10]. - The dual presence of legitimate financial information and fraudulent content on platforms like Xiaohongshu poses significant reputational and compliance risks, especially in a tightening regulatory environment [10][11]. Group 5: Future Directions - Industry experts suggest that Xiaohongshu should invest in user education and content transparency, potentially collaborating with licensed institutions to enhance investor education and reduce the space for fraudulent activities [11]. - The ongoing demand for insurance cancellation and loan assistance services in the legitimate market indicates that as long as these needs are unmet, fraudulent entities will continue to find ways to infiltrate [11].

Core Insights - Ping An Consumer Finance has updated its list of partner marketing and credit enhancement service institutions, adding the well-known loan assistance platform, Xinyongfei [1] - Shanghai Xiaotu Network Technology Co., Ltd. has been added to the marketing acquisition list, while Shanghai Ersu Information Technology Co., Ltd. has been removed [1] - The marketing acquisition list highlights partnerships with Chongqing Liangxin Jincheng Technology Co., Ltd. for loan assistance and Chongqing Meituan Sankuai Small Loan Co., Ltd. for joint loans, both of which are affiliated with Meituan [1] - In the credit enhancement service institutions, Tianjin Xinfly Financing Guarantee Co., Ltd. has been added, which is a wholly-owned subsidiary of Shanghai Xiaotu [1] Marketing Acquisition Institutions - The updated list includes various institutions such as Shenzhen Zhiling Haohai Technology Co., Ltd., Du Xiaoman Technology (Beijing) Co., Ltd., and others [2] - Notable additions and removals include Shanghai Xiaotu Network Technology Co., Ltd. being added and Shanghai Ersu Information Technology Co., Ltd. being removed from the list [1][2] Credit Enhancement Service Institutions - The updated list of credit enhancement service institutions includes Tianjin Xinfly Financing Guarantee Co., Ltd. as a new addition [1][3] - Other institutions in the list include Ping An Rongyi (Jiangsu) Financing Guarantee Co., Ltd. and Shenzhen Zhongzhi Credit Financing Guarantee Co., Ltd. [3] Regulatory Context - The update aligns with the guidelines issued by the National Financial Regulatory Administration in April, which mandates that commercial banks manage platform operators and credit enhancement service institutions through a list system [4] - The regulation emphasizes that banks should not engage in cooperation with institutions outside the approved list for internet loan assistance business [4]

Core Insights - Q2 2025 performance of Qifu Technology shows revenue of 5.216 billion, a year-on-year increase of 25.38% and a quarter-on-quarter increase of 11.2% [1] - Net profit for the same period is 1.731 billion, reflecting a year-on-year increase of 25.72% but a quarter-on-quarter decrease of 3.68% [1] Financial Performance - Total loan facilitation in Q2 reached 84.609 billion, a quarter-on-quarter decrease of 4.81% but a year-on-year increase of 16.12% [2] - As of June 30, 2025, the loan balance stood at 1400.80 billion, showing a slight decrease from 1402.73 billion at the end of March but a year-on-year increase of 13.38% from 1235.51 billion [3] Business Strategy - Qifu Technology's strategy remains cautious, with a focus on balancing growth and risk [4] - The company has diversified its business model, allowing for flexibility in asset allocation between heavy and light capital [5] Revenue Breakdown - In Q2, revenue from heavy capital loan facilitation reached 0.461 billion, a year-on-year increase of 205.1% [7] - Financing income accounted for the largest share of total revenue at 2.205 billion, representing 42% of total revenue [10] - The company issued bonds totaling 14.4 billion in the first half of 2025, a 45% increase year-on-year [12] Regulatory Impact - The "Assisted Loan New Regulations" are expected to have a positive long-term impact on the industry, promoting a healthier ecosystem [13][14] - Qifu Technology is preparing alternative plans in response to the new regulations, ensuring compliance and operational stability [20][21] International Expansion - Qifu has initiated small-scale operations in the UK, with positive early indicators [24] - The company aims to understand local markets and refine its risk models as part of its international strategy [25] Cost Management - Customer acquisition costs decreased to 370 yuan in Q2 from 384 yuan in the previous quarter [30] - Marketing expenses increased to 6.63 billion, a 12% quarter-on-quarter rise [33] Risk Management - The company has increased its risk provisions, with new provisions for risk-bearing loans totaling approximately 2.5 billion in Q2 [8] - The D1 delinquency rate remained stable, but recovery rates declined from 88.1% to 87.3% [35] - Qifu is tightening risk management measures in response to industry-wide pressures and regulatory changes [42][43] Future Outlook - The company maintains a cautious outlook due to ongoing macroeconomic uncertainties, projecting Q3 net profit between 1.52 billion and 1.72 billion, reflecting a potential year-on-year decline [44][45]