On February 21, Chinalin Securities Co.Ltd(002945) (002945. SZ) made a sudden announcement that it was conducting transactions with the relevant parties of byte jump, a large Internet manufacturer in China, in which it had signed an agreement with Beijing zitiao Network Technology Co., Ltd. to purchase its dolphin stock app, It plans to acquire 100% equity of Beijing Wenxing Online Technology Co., Ltd. (hereinafter referred to as “Wenxing online”) held by Jiangsu today’s headlines Information Technology Co., Ltd. (hereinafter referred to as “Jiangsu today’s headlines”) at the price of 20 million yuan. Wenxing online is the main operator of dolphin stock app.
Relevant people of Chinalin Securities Co.Ltd(002945) said that dolphin stock app has a high degree of matching with Chinalin Securities Co.Ltd(002945) ideal stock market software. Purchasing instead of construction can improve the speed of the implementation of Hualin science and technology transformation strategy. However, after winning the dolphin stock app, Chinalin Securities Co.Ltd(002945) will also iteratively upgrade it. Chinalin Securities Co.Ltd(002945) CEO Zhao Weixing revealed that the new dolphin app will be the first financial application in the market with accurate and rich docking bytes and standard interactive content capability.
There are many cases in the market where the application of high-quality stock market trading has successfully driven the flow of investors. The above transactions are regarded as the product layout in the landing stage of Chinalin Securities Co.Ltd(002945) technology and finance strategy. Prior to this, Chinalin Securities Co.Ltd(002945) vigorously promoted the transformation of science and technology finance, in which the IT investment increased significantly year-on-year, and Zhao Weixing joined and served as CEO. At the same time, it “poached” the core middle and senior talents of large Internet companies such as Tencent, byte beating and ant financial services.
exit securities layout Chinalin Securities Co.Ltd(002945) purchase instead of construction
According to the announcement, dolphin stock official website, software store and other information, Wenxing online was established in April 2017 and is 100% controlled by Jiangsu today headlines (Note: a wholly-owned subsidiary of byte beating Co., Ltd.). Taking dolphin stock app as the platform and based on the headline machine learning model, it quantifies stock big data, provides users with stock market and Beijing Vastdata Technology Co.Ltd(603138) analysis, tracks stock trends at any time, uses genetic algorithm and natural language investment logic analysis, scans stock market hotspots in real time and intelligently monitors market dynamics. The dolphin stock app is a software that provides securities financial information and market data, including bright spot functions such as intelligent marking, high-speed market and business analysis.
The product form and operation subject of this app is an important part of the securities business. Among them, the stock market software is the main support for investors. Behind it, there are two securities companies, namely Hong Kong Securities Company squirrel securities and Star Securities.
In September 2021, the media reported that byte beat had communicated with China International Capital Corporation Limited(601995) , Fosun Group and other parties, planned to sell its securities business, and made it clear that it would not engage in securities business in the future. Now the counterparty who won dolphin stock app and Wenxing online has finally unveiled the cup.
“Dolphin stock app has a high degree of matching with Chinalin Securities Co.Ltd(002945) ideal stock market software in terms of social content operation, data processing depth and user experience. Considering the scientific and technological complexity and data port diversity of stock market software, as well as the time cost of re applying for relevant software copyright, Chinalin Securities Co.Ltd(002945) By purchasing the equity of Wenxing online, it will further shorten the time to develop new stock market software from 0 to 1 and improve the speed of the implementation of Hualin science and technology transformation strategy. ” The above Chinalin Securities Co.Ltd(002945) relevant person mentioned.
In terms of dolphin stock app, Huawei application market shows that the app has been installed 18.9 million times. “As of September 2021, the user data of dolphin stock securities app platform is 12.46 million, and the monthly number of active users is about 320000.” Mentioned by the above Chinalin Securities Co.Ltd(002945) relevant persons. According to Huawei and Apple App Stores, the optimization frequency of dolphin stock app is similar to that of most head securities trading apps. On average, there are one or two optimization upgrades every month, and the latest version was updated two months ago.
Wenxing online achieved a revenue of 28.51 million yuan and a net profit loss of 1.64 million yuan in 2021. As of the benchmark date of January 31, 2022, the total book value of Wenxing online assets is about 14.74 million yuan, the total book value of liabilities is 700000 yuan, and the book value of owner’s (shareholder’s) equity is 14.04 million yuan. The total equity of shareholders determined by the cost method (asset-based method) is 20.77 million yuan, which is 6.73 million yuan higher than the book value of owner’s (shareholder’s) equity, with an appreciation rate of 47.95%. The transaction consideration of Wenxing online is 20 million yuan.
After the completion of the above transaction, the company will go offline and no longer operate dolphin stock app and corresponding securities business, and Chinalin Securities Co.Ltd(002945) will continue to provide services for the users of the app. Meanwhile, Chinalin Securities Co.Ltd(002945) plans to record Wenxing online as an information technology professional subsidiary. According to relevant regulations, the matter shall be filed with the CSRC and approved without objection.
upgrade the application and set up a technology subsidiary
According to the above Chinalin Securities Co.Ltd(002945) relevant sources, after winning Wenxing online, it will accelerate the integration of relevant module functions of dolphin stock app, upgrade and launch a new generation of dolphin stock app securities trading software, improve user experience and generate synergy.
“At present, the Chinalin Securities Co.Ltd(002945) technology team is speeding up in an all-round way and cooperating with the byte beating team to carry out technical handover and all-round upgrading and transformation of dolphin stock app. (the new dolphin stock APP) will focus on better trading experience and break through the stereotyped image of traditional securities app by using byte content capability, user full life cycle operation and new generation UX style.” The source mentioned that the new dolphin stock app is expected to be officially launched in April.
It is worth noting that as part of the implementation of Chinalin Securities Co.Ltd(002945) technology finance strategy, the new dolphin stock app is a product directly facing investors. In its product strategy, Chinalin Securities Co.Ltd(002945) puts forward the idea of focusing on C-end customers and focusing on the wealth management needs of indigenous people of generation Z Internet. It also has this consideration in introducing the scientific and technological capabilities of Internet giants and accelerating the research and development of new products. Other media disclosed that in addition to the above equity acquisition, Chinalin Securities Co.Ltd(002945) has a comprehensive cooperation amount of more than 500 million yuan with byte beat, covering software purchase, technical services, commercial advertising and other fields.
On the other hand, relying on the acquisition of Wenxing online, Chinalin Securities Co.Ltd(002945) will also apply for the establishment of an information technology professional subsidiary.
This structure is no stranger to securities companies who intend to layout the technology and finance track. Since the measures for the administration of information technology of securities fund operating institutions in 2018 allowed securities fund operating institutions to set up information technology subsidiaries, leading securities companies have taken action one after another. Take jinteng technology information (Shenzhen) Co., Ltd. as an example, which is a securities business science and technology subsidiary of the “marriage” between China International Capital Corporation Limited(601995) (601995. SH) and Tencent.
Chinalin Securities Co.Ltd(002945) behind this action, it aims to “improve the competitiveness of the company’s scientific and technological R & D and product innovation, and accelerate the company’s strategy of digital transformation.
”The above Chinalin Securities Co.Ltd(002945) relevant person mentioned, “In the future, the subsidiary will establish a unified product and R & D system, unify and standardize the R & D process of multiple app platforms, and uniformly build public platforms such as big data AI to enable business. In addition, the subsidiary will unify the data user operation system, establish a digital operation team under the information technology professional subsidiary, formulate user data operation strategies and improve the user core data index body System and data analysis system, and establish a set of unified user management system to carry out fine operation at different stages of user life cycle, so as to effectively improve the overall ability of data user operation. “
More than 80% of the newly recruited personnel are IT talents
In fact, Chinalin Securities Co.Ltd(002945) in the strategic transformation of science and technology finance, the action range and promotion speed are more prominent in the industry. In April 2021, Chinalin Securities Co.Ltd(002945) chairman Lin Li publicly mentioned that he had hired internationally renowned consulting institutions to start the strategic transformation of science and technology finance. In June of the same year, Chinalin Securities Co.Ltd(002945) officially announced and determined the strategic goal of building a leading science and technology finance company in China. Subsequently, Chinalin Securities Co.Ltd(002945) ran into the science and technology finance track and accelerated the implementation of multiple strategies from human resources, corporate structure to process reengineering, mechanism innovation to product layout. Among them, in terms of talent introduction, Zhao Weixing, one of the first financial executives to realize the “cross-border” of Finance and technology in the market, was introduced as the CEO, and the technical talents of large Internet manufacturers were frequently paid attention to by the market.
The above Chinalin Securities Co.Ltd(002945) relevant person mentioned: “in 2021, the company recruited technology, product, operation and design talents with Internet ‘big factory’ experience on a large scale. The scientific and financial talents recruited in the whole year accounted for 83% of the new recruits of the headquarters. At present, the proportion of scientific and technological talents of the headquarters has exceeded 50%.”
“2022 is the second year of Chinalin Securities Co.Ltd(002945) fully implementing the strategic transformation strategy of science and technology finance. The company will continue to embrace the new trend of Internet securities companies, accelerate the pace of financial reform and transformation, and comprehensively build a customer-centered, science and technology driven, transaction based and agile technology finance company.” Mentioned by the above Chinalin Securities Co.Ltd(002945) relevant persons.
Relevant data show that from January to September 2021, Chinalin Securities Co.Ltd(002945) business and management fees increased by 32.52% compared with the same period in 2020, of which the operation cost of electronic equipment reached 106 million yuan, a significant increase from 31.82 million yuan in 2020. In this regard, Chinalin Securities Co.Ltd(002945) mentioned that the year-on-year increase in business and management fees is due to the company’s continuous increase in information technology investment and the introduction of scientific and technological talents in order to better promote the company’s scientific and technological financial strategic transformation, and the significant year-on-year increase in information technology related expenses. In addition, by the end of September 2021, Chinalin Securities Co.Ltd(002945) information technology investment had increased by about 160 million yuan compared with the same period in 2020, of which the information technology investment in a single quarter in the third quarter of 2021 reached 94.91 million yuan.
