Small and medium-sized brokerage fierce competition for customer resources with Internet finance

Under the impact of fierce competition for small and medium-sized brokerages with Internet resources on customer resources, large-scale brokerage firms are no longer silent.

Recently, Haitong Securities, a direct investment subsidiary Hai Tong Kaiyuan 91 lead the financial investment round B, then the two sides jointly launched wealth management products, "Value-added treasure 3" is expected to yield an annual rate of about 7%. Prior to the end of June, Haitong Securities has launched the "e Hai Tong Choi" integrated Internet financial services platform.

As one of the earliest established large-scale brokerages, Hai Tong Securities frequently extended to the field of Internet finance action, it is "conform to the general trend" move.

Insiders told the "China Business" reporter: "Haitong Securities rumors had talked about cooperation with Tencent matters, but because of strong Tencent attitude, the conditions can not fit, the final sea to give up cooperation in securities and choose their own development platform. In the development platform In the process, Haitong Securities is mainly based on the integration of its existing five major businesses. Its business is mainly targeted at retail customers. This approach is similar to Guotai Junan. However, compared with Guodian Securities, its customers may not have incremental space or may not have Tencent Scale effect. "

In fact, due to the stock market downturn, IPO dammed lake accumulation, brokerage brokerage business, investment banking business are "pressure mountain." At the same time, under the sweeping wave of Internet finance, small and medium-sized brokerages have leaned over the intention of the portal to overtake corners. Large brokers are often reluctant to be subordinate to the negotiation due to their abundant customer resources, which makes it difficult for suitable Internet partners to find themselves. Being single-handedly breaking into the Internet business becomes a "passive choice."

Haitong Securities can successfully transition, apparently also need to verify the performance.

Not transition not live

Bundling the Internet, it seems the industry, or Haitong Securities is the helpless move.

As one of the earliest established securities companies in China with the most comprehensive strength, the industry prefers to refer to Haitong Securities as the "established brokerage house." However, also due to the "large size", in the context of the cyclical industry brokered by the brokerage in recent years, the blow it suffered should not be underestimated.

Reporter combing Haitong Securities in the past three years, the annual results report found that since 2010, Haitong Securities fee and commission income dropped sharply, out of L-bottom. Among them, in 2010, Hai Tong Securities realized fee and commission income reached 8.384 billion yuan, but in 2011 it plummeted to 6.566 billion yuan, after more than two years time, the income did not significantly improved. For a long time, this part of the revenue accounted for about 70% of the overall business share of Haitong Securities. In the early years (before and after 2006), this part of the income even reached 80%, while 90% The proportion. The decline of its size, the impact of the Haitong Securities should not be underestimated.

"In fact, since 2010, the overall boom of brokerage industry began to decline. After two years of struggle, everyone realized that the brokerage business can not last long and can not compete for a long time, which is to compete in the saline-alkali land. No matter who, they will think Transformation, but also faster, more accurate transition. "Southwest, a large brokerage official told reporters that the market is not good Brokerage business shrank in 2012 IPO barrier gave the investment banking business a blow, the brokerage in the past for some time complaining , Restructuring and innovation are already unimaginable. Whether it is investing in innovative businesses or turning to the Internet, it is an attempt to find a chance to survive.

"Do not rely on the weather to eat, life is precarious. Not restructuring, not living." A broker insiders mentioned that in August last year, CITIC Securities, Ping An Securities and Guotai Junan and other brokerages have submitted to the Commission to apply for Internet finance business , Focusing on the two core issues of products and accounts and proposing detailed solutions based on the current institutional framework. Transformation has become the biggest issue of all brokerages, including Haitong Securities.

After the innovation conference in 2012, Haitong Securities also vigorously developed related innovative businesses. However, it did not completely change the life style of Haitong Securities until the end of 2013. In this context, "Internet Finance", which is loved by small and medium-sized brokerages, has received the attention of Haitong Securities.

In April this year, Wang Kaiguo, chairman of Haitong Securities, publicly acknowledged that the rise of Internet finance in the Mainland had some impact on the company's commission income, especially retail retail. Therefore, Haitong intends to enter the Internet financial business, including online account opening, trading and sales.

On June 23, Haitong Securities launched "e-Hai Tong Choi" Internet financial integrated wealth management service platform; on July 2, Haitong Kaiyuan and 91 financial cooperation launched the internet platform wealth management product-added treasure No. 3, claiming an annualized yield of 7% The first phase of a limited 25 million yuan. It is reported that this product with Haitong Securities "e Haitong Choi" Internet platform, in just 6 seconds, that is being sold out.

Platform integration is not yet fully in place

Although Hai Tong Securities launched "e Hai Tong Choi" in the media is called "brokerage Internet financial aircraft carrier set sail." But in fact, Haitong Securities-related front-end staff said: "'e Haitong Choi' is just a name, online banking and other business operations in the Haitong Securities official website page, if you want to buy OTC products, check the same online account In addition, it is not yet clear when the deal will be fully realized. "

The Hai Tong Securities "e Hai Tong Choi" page, showing that the platform will achieve "financial management, trading, financing, investment, payment," the five functions. However, according to this reporter learned that most of the above features have been introduced in the past, the platform will be transferred directly to the Hai Tong Securities official website account page, check the relevant business, you can open the relevant services. However, if you want to continue operations, such as the purchase of financial products also need to Haitong Securities official website of the business interface to operate.

In addition, the payment function of the Hai Tong Securities account is currently only available to cattle and other sites, "the cooperation of other platforms is still gradually advancing." Hai Tong Securities business staff told reporters that the future Hai Tong Securities account can be achieved as Alipay functions, but the specific time is still unknown.

In the "e Hai Tong Choi" platform, it also introduced the company has a mobile client and other functions, but at present "still under test, will be launched." Hai Tong Securities, an investment adviser told reporters that at that time, Hai Tong Securities mobile phone customers End will be able to get financial products push, buy and other integrated services.

Yang Pengfei, a securities analyst at AVIC, mentioned that several brokerages had already started Internet-related businesses or cooperation. The most important services were low-commission accounts and free consultation. But the difference between the Internet business brokerage precisely lies in the depth of cooperation. As of now, the platform integration of Haitong Securities is not yet in place and the commission rate of online account opening has dropped significantly. The Haitong Securities front-end staff said: "As long as the account is opened online, no matter which business department tick, are Commission rates."

Due to the huge proportion of commission and fee income in the overall business volume of Haitong Securities, the business volume of Haitong Securities may be under pressure due to the drastic reduction of commission rate. In response, this reporter called Haitong Securities, but said the relevant person in charge are not in the company, as of press time still no response.

In fact, Haitong Securities also said in the contents of the announcement of the company that the fierce market competition in recent years has led to the declining brokerage commission rate of the Company. The Company has been devoted to providing new products and services to its customers. However, innovative businesses can also lead to increased risk. Business innovation drives Haitong Securities to deal with a broader customer base or counterparty, entering new market segments and offering new products, all of which expose the company to new risks. Companies may be subject to more regulatory scrutiny or assume greater market, credit and operational risk.

This is like a feast, all impatient admission, but who can have the last laugh, it is still unknown.