Core Viewpoint - The traditional "dual financing guarantee" model is being phased out as the "new lending regulations" come into full effect, leading to a significant reshaping of the lending industry [1][2] Group 1: New Lending Regulations - The new regulations set a cap on annualized interest rates for lending services at 24%, effectively rendering the previous "dual financing guarantee" model ineffective [2][8] - The regulations will be implemented on October 1, and the transition to compliance has been challenging for many institutions [2][8] Group 2: Shift to New Models - Many small and medium-sized institutions are transitioning to a "24% + notarization" model, particularly in the equipment rental sector [1][2] - Some rental platforms are bundling additional fees such as notarization and insurance, which increases the actual cost for users [3][4] Group 3: Notarization Practices - The notarization fees are often used for "strong notarization," which allows creditors to bypass lengthy litigation processes, thus improving recovery rates [3][5] - A new "composite notarization" model is being explored, which includes measures like deposit guarantees and evidence chain notarization to balance costs [4][6] Group 4: Challenges in Implementation - The industry faces challenges such as the judicial system's capacity to handle small, high-frequency cases and rising customer complaints regarding hidden fees [7][8] - The sustainability of the new business models is questioned, as institutions may need to forgo previous profit margins of 24%-36% to comply with the new regulations [8][9] Group 5: Industry Transformation - The industry is undergoing a critical transition from tentative adjustments to substantial changes, with many institutions initially attempting to repackage existing high-rate products as compliant [8][9] - The current asset scale of products with interest rates above 36% still exceeds 50%, indicating potential systemic risks if abrupt changes are made [9]