Today,
Luo Min published a blog piece, reflecting on his mishandling of
the media and public relations. He acknowledged his immaturity,
inexperience and ... arrogance. I love the piece, and rate him 10
out of 10.
Qudian
has rolled out a new line of business, selling cars and lending to
car buyers, at lightening speed, once again demonstrating its
unrivaled execution capabilities. Its earnings in 2018 may be a
touch weaker than previously forecast. But who knows: it may
surprise the market on the upside. Market expectations of Qudian
are very low any way. Most importantly, it is in full compliance
with the new regulations.
** I
drank tea recently with the CEO of Paipaidai, Cliff Zhang. He
was on top of the new regulations and the company was adapting to
them in a structured way. He was calm, radiating confidence.
** Last week, the regulators hosted a
seminar in Beijing with some key industry executives and regional
regulators. The key takeaway I gleaned from it: The new regulations
are indeed an overkill but the regulators are primarily concerned
with two issues: the 36% interest-rate cap, and the rough
debt-collection tactics exposed by the media. I think the
regulators will allow some leeway on the interest rate front when
it comes to very short-term lending. Some people suggest that an
annual fee or membership fee on the short-term borrowers may be
allowed. The bottom line: the regulations may be flexibly
implemented.
The sky
has not fallen on China's online lending sector, after all.
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