36%网贷利率再现江湖？ 距离《国家金融监督管理总局关于加强商业银行互联网助贷业务管理提升金融服务质效的通知》10月1 日正式施行不足半月，行业正面临一场大考。 在此背景下，南都湾财社记者关注到一款名为"榕树贷款"的产品以7.2%-36%的年化利率公开展业，其 接近监管红线的利率上限与新规要求的综合融资成本约束形成鲜明对比。 据官方小程序显示，榕树贷款背后的贷款机构为广州数融互联网小额贷款有限公司（下称"数融小 贷"），该公司系百融云创科技股份有限公司全资子公司。 记者通过榕树贷款官方小程序页面发现，该公司首推产品为"榕树优选贷"，最高贷款额度为20万元。此 外还有车抵贷、房抵贷以及即将上线的大额信用贷等，额度从30万-3000万不等，其中房抵贷明显标注 出年化利率为2.8%-18%。 据小程序页面底部的小字信息显示，全部产品的利率范围为年化利率7.2%-36%（单利）。 随后，南都湾财社记者以用户身份致电榕树贷款客服，就产品额度、资方性质及利率水平等核心问题展 开问询。 针对用户最关心的贷款额度问题，客服表示，榕树贷款最高可申请额度为20万元，但实际获批额度存在 个体差异。"每个用户的申请情况不一样，而且匹 ...

Core Viewpoint - Baidu Cloud (06608.HK) reported a revenue of 2.929 billion yuan for 2024, representing a year-on-year growth of 9%, while net profit decreased by 21% to 266 million yuan [1] Group 1: Financial Performance - The net profit of Baidu Cloud fell short of expectations, primarily due to higher-than-expected expenses, which increased by 176% to 110 million yuan in share-based payments compared to 2023 [1] - The non-IFRS net profit, excluding share-based payments, was 376 million yuan, showing a slight increase of 0.3% year-on-year [1] - The company's revenue from BaaS financial cloud services saw a slowdown in growth, and the core customer count and average revenue from MaaS services declined [1][3] Group 2: Market Strategy and Future Outlook - The company plans to significantly increase its investment in research and marketing, which may impact profitability in the short term but is aimed at maintaining long-term competitive advantages [1] - Analysts from Huatai Securities and CICC have adjusted their profit forecasts for the company, predicting net profits of 244 million, 396 million, and 606 million yuan for 2025, 2026, and 2027, respectively, reflecting a decrease of 52.5% and 47.0% for the first two years [2] - The shift from a risk control-focused data service provider to an AI service provider is prompting a change in valuation methods, with target prices adjusted to 13.1 HKD and 12.88 HKD by different analysts [2] Group 3: Business Segments - Baidu Cloud's revenue is primarily derived from two segments: MaaS (data query services) and BaaS (transaction facilitation services), with financial cloud services accounting for 48.17% of total revenue [3] - The BaaS financial cloud segment generated 1.411 billion yuan in revenue in 2024, serving as the core revenue source for the company, although its growth rate has noticeably slowed [3] - The company has reported that the cumulative loan amount for its consumer loan products reached nearly 100 billion yuan by the end of 2023, with over 100 million registered users for its loan brands [3]