Friday , May 14 2021

Value of valuation, Lu Jin completed a new round of funding of 1.3 billion dollars – Wall Street



Lu Jin has raised a total of $ 1.33 billion in the final round of funding, but Luying's funding amounted to $ 38 billion, less than the $ 40 billion target set in June this year.

Lu Ping, the Unic-owned Ping An, has just completed a new round of funding, but this round of funding shows that its valuation has been reduced.

According to Reuters news, Lu Jin's recent round of funding raised a total of 1.33 billion US dollars from a dozen investors, but the valuation was lower than expected. People familiar with the issue said that funding was estimated at $ 38 billion for Louis, which is less than the $ 40 billion set by Louis in June when he began to raise funds.

The media quoted sources as saying that Chunhua Capital is the main investor, apart from the Investment Authority in Qatar, Hong Kong All-Stars Investment and the Japanese financial company SBI Holdings. In addition, financial institutions such as JP Morgan Chase, Macquarie Group, UBS, UOB and Goldman Sachs have joined the ranks of investors.

In September, Wall Street observations mentioned that the QIA, one of the four treasury treasuries of the Middle East, negotiates, could acquire a minority stake in Lujin, a financial services technology company owned by Ping An, and can invests around 500 million to 10 billion dollars.

In June this year, Lu Jin plans to launch a new round of funding up to $ 2 billion, when the valuation reached 40 billion US dollars.

In January of this year, there were reports in the media that Lu Jin plans to go public in Hong Kong in April, with an estimated $ 60 billion. According to reports at that time, the assets run by Lu Jin were close to 500 billion yuan, and the net profit in 2018 is expected to be 10 billion yuan.

However, at the Ping An performance conference afterwards, Ping An said that despite the good doctors already listed, other companies in Lu Jin do not have a clear listing plan.

A broker analyst said that whether it's $ 40 billion or $ 60 billion is now too high, especially if regulatory expectations are very uncertain, this is the most worrying capital market.

To support high values ​​and avoid political risks, Lujin completed its business restructuring in 2016 and subsequently merged into Chongqing for financial assets, Qianhai Financial Assets, and Ping An Huihui. Business encompasses wealth management, interagency transactions and In the consumer finance sector, the volume of P2P business transactions has decreased, with less than 10%.

Ping An Group's annual report for 2017 shows that Lujin Holdings maintains rapid growth in its business areas, such as wealth management, consumer financing and interagency transactions and for the first time achieved overall profits for the whole year.

As of the end of 2017, the number of Lujin's registered users exceeded 33 million, and the asset management level reached 4.66199 billion yuan, an increase of 5.3% at the beginning of the year, and the balance of management loans equaled 288.434 billion yuan, an increase of 96.7% at the beginning of the year. In the same period, Luyin's accumulated loan amounted to 615.833 billion yuan, of which unsecured loans amounted to 398.764 billion yuan, and mortgage loans amounted to 217609 billion yuan.

* This article is from Wall Street (WeChat ID: wallstreetcn). For more information, visit wallstreetcn.com or download the Wall Street application. *


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