How big is the Xiaomi Group?
In many people's impressions, Lei Jun and his Xiaomi have always been labeled as entrepreneurs and start-ups, and it seems that Xiaomi is still just a start-up company. Actually, today's Xiaomi is not small at all. According to the data, the company, which was founded in 2010, will have an operating income of 270.9 billion yuan in 2023 and is already a Fortune 500 company.
At present, Xiaomi Group's most familiar business is the traditional smartphone business, and the second is the hot new energy vehicle business. In terms of mobile phone business, Xiaomi's global mobile phone shipments rank third in the world, second only to Samsung and Apple, two foreign giants. In terms of new energy vehicles, the Xiaomi SU7 launched in 2024 is also becoming a new force to be reckoned with.
Xiaomi also has a profit segment
In addition to Xiaomi's mobile phone and car business, there is actually another business segment that is often overlooked, and now it has also become an important profit-contributing department, that is, private banking.
At present, we have a total of 19 private banks, 4 of which have obvious Internet genes, and they have obtained full online credit business filing licenses.
The first is Shenzhen Qianhai WeBank, a subsidiary of Tencent Holding Group, founded in 2015, which is the first private bank in mainland China and the largest bank at present.
The second is Zhejiang MYbank, a subsidiary of Alibaba Group, and one of the first batch of private banks (there are 5 in the first batch), headquartered in Hangzhou.
The third is Jilin Yealink Bank, a subsidiary of Meituan Group, founded in 2017 and headquartered in Changchun City, Northeast China.
The fourth, Sichuan Xinwang Bank, headquartered in Chengdu, the capital of Sichuan Province, is founded in 2016 by Sichuan New Hope Group and Xiaomi Group. At present, Sichuan New Hope Group owns 30% of the bank's shares, Xiaomi holds 29.5% of the shares, in addition to Hongqi Chain and other participating shareholders.
Xinwang Bank's annual profit exceeded 1 billion yuan
Sichuan Xinwang Bank is the seventh private bank established in mainland China, with a registered capital of 3 billion yuan. Recently, the bank released its latest annual financial statements, as of the end of 2023, the total assets of Sichuan Xinwang Bank reached 102.9 billion yuan, the annual operating income was 5.49 billion yuan, and the net profit was 1.01 billion yuan.
It is worth mentioning that Sichuan Xinwang Bank is the fifth private bank in the country with total assets of more than 100 billion yuan, in addition, Qianhai WeBank, Zhejiang MYbank, Wuhan Zhongbang Bank and Jiangsu Sushang Bank (formerly Suning Bank). Among them, WeBank's total assets have exceeded 500 billion yuan, and MYbank has 452.1 billion yuan.
In terms of net profit, WeBank's net profit in 2023 will be 10.8 billion yuan, making it the only private bank with a net profit of more than 10 billion yuan. The asset scale is similar to that of WeBank, and the net profit of MYbank is 4.2 billion yuan. There is another company with a net profit of more than 1 billion yuan, that is, Sushang Bank (1.055 billion yuan), and the net profit of Wuhan Zhongbang Bank is only more than 400 million yuan. Therefore, the net profit of Xinwang Bank ranks among the top 4 in the industry.
Write at the end
At present, there are 19 private banks in the mainland, but in terms of profitability, the profitability of Internet banks is relatively strong. Of the four private banks with a net profit of more than 1 billion yuan in the country, 3 of them are Internet banks, although Suning Bank is not completely an Internet bank, but Suning's Suning Tesco business also has certain Internet genes.
Through the all-online loan model, Internet banks have eliminated the operating costs of opening offline stores, which is more cost-effective than other private banks. In addition, they are backed by powerful Internet companies, which are huge traffic entrances themselves, and their customer acquisition costs are much lower than those of other types of banks.
The same is true for Sichuan Xinwang Bank, a subsidiary of Xiaomi Group, although it is difficult to compete with the two major banks of Tencent with WeChat and Alibaba, but with its own advantages, it has also achieved the top 4 in the industry. Now Sichuan Xinwang Bank can create hundreds of millions of profits for Xiaomi every year, which can be said to be a veritable cornucopia business sector, and this investment can be said to have a great return.