Beijing Business Daily (Reporter Li Haiyuan) has also announced the closure of its online direct selling platform. According to the content of the announcement recently released by Jinxin**, since March 6, Jinxin** has closed the company's online direct sales trading platform and account inquiry platform. Since March, NORD** and Great Wall** have successively announced the closure of online direct selling platforms and related businesses. Previously, there were also a number of public offerings that closed online direct selling platforms or their apps. In the eyes of industry insiders, due to the small sales volume of some small and medium-sized public direct selling platforms and high maintenance costs, it is not cost-effective to continue to choose to sell in the form of online direct selling platforms, and it is expected that in the future, most small and medium-sized institutions will no longer retain their online direct selling platforms.
On March 5, Jinxin** announced that from March 6, the company's online direct sales trading platform and account inquiry platform will be closed. However, Jinxin** also reminds that investors can handle it through the company's direct sales center if they have business needs such as account opening, subscription, subscription, redemption, and account inquiry.
It is worth mentioning that in the past week, Nord** and Great Wall** have successively announced the closure of online direct selling platforms or related businesses. Among them, since March 18, NORD** has closed the account opening, subscription, subscription (including regular and fixed investment) and * conversion business of the company's direct online trading platform and WeChat trading platform, and the redemption and inquiry business can still be handled normally. NORD said that if investors have business needs such as account opening, subscription, subscription, and conversion, they can handle it through the company's direct sales counter or cooperative sales agencies.
In addition, Great Wall ** also previously announced that since March 2, the online direct trading platform on the company's official website will be closed for account opening, subscription, subscription, conversion, redemption and new automatic investment business, and inquiries, stock regular investment and other businesses can still be handled normally. However, Great Wall ** also mentioned that if investors have business needs such as account opening, subscription, subscription, conversion, redemption and new regular investment, they can handle it through the company's mobile client (Great Wall **APP), WeChat service account (Great Wall**) direct sales counter, or the company's cooperative ** sales agency.
In response to the specific reasons for the closure of the online direct selling trading platform and account inquiry platform, a reporter from Beijing Business Daily issued an interview with Jin Xin**, but did not receive a reply as of press time.
Some public offering practitioners admitted to the Beijing Business Daily reporter that because the customer structure and channels of some public offerings are mainly concentrated in consignment channels such as Ant and Tiantian, they will choose to tilt more resources to do the resource maintenance of consignment channels. Specifically, it will focus more on the accompaniment of investors in the distribution channel, and hope to achieve feedback to the company. The public offering practitioner also bluntly said that in fact, this operation has gradually become an industry phenomenon.
As mentioned by the above-mentioned public offering practitioners, in recent years, many public offerings have announced the closure of online direct selling platforms or related businesses. As early as June 2019, CITIC Prudential** took the lead in announcing the closure of online direct sales account opening, subscription, subscription and regular investment business. Since then, IFC**, Nanhua**, and Changjiang Asset Management have also successively closed down the handling of related businesses in recent years.
From the perspective of management scale, the above-mentioned institutions are all small and medium-sized public offerings. According to Flush iFinD data, as of the end of 2023, only the Great Wall** has a non-cargo-based management scale of more than 100 billion yuan, reaching 1,333$1.2 billion; During the same period, the non-cargo-based management scale of CITIC Prudential**, Guojin**, Nord**, Nanhua**, Jinxin**, and Changjiang Asset Management was 9130.6 billion yuan, 4521.3 billion yuan, 3065.5 billion yuan, 172400 million yuan, 1058.1 billion yuan, 1043.2 billion yuan, in the middle or lower position of the industry.
Why do more and more small and medium-sized public offerings choose to shut down their online direct selling platforms in recent years? In the view of Yang Delong, chief economist of Qianhai Open Source, due to the small sales volume of some small and medium-sized public direct selling platforms and high maintenance costs, it is not cost-effective to continue to choose to sell in the form of online direct selling platforms, so there is a phenomenon of closing online direct selling platforms. It is expected that in the future, some large and medium-sized public offerings may retain their online direct sales platforms, but most small and medium-sized institutions may no longer retain them.
In fact, in addition to shutting down online direct selling platforms, some small and medium-sized public offerings have taken their apps offline in recent years. According to public information, up to now, there have been Everbright Prudential**, Jiutai**, Guojin**, Xinhua**, PICC Asset Management and other public offering offline company APPs or terminated the operation and maintenance services of related APPs.