Chapter 334

"Split Alipay?" when Fang zhe proposed to split Alipay, among the executives present, except Li Yifei, who has always been in charge of Alipay, there were puzzled expressions on their faces.

"President Fang, well, I don't understand why we should split Alipay. Although Alipay is a subsidiary, its business is closely related to our parent company. Now splitting Alipay may affect the development of Alipay and the parent company, and it may not be conducive to the valuation of capital we introduce in the future!"

Huang Siyi, the vice president of Huizhong who has been promoted in the past two years and is specially responsible for Huizhong's foreign investment business, has been responsible for the specific work of Huizhong's foreign investment since he assisted Zheng Siwen in establishing Huizhong's investment department. Now, with more and more Huizhong's foreign investment, his position in the company is becoming higher and higher, Until two months ago, he was promoted to the position of vice president of Huizhong's parent company, adding the core management of Huizhong.

He has been involved in the investment industry for many years. Therefore, when Fang zhe said that he intended to "spin off Alipay", he was the first to express doubts, because from the perspective of investment and financing, the spin off of Alipay is not conducive to the overall valuation of Huizhong parent company, nor to the future development and internationalization of Alipay.

However, Fang zhe did not directly answer his doubts. Instead, he looked at Li Yifei and asked:

"Mr. Li, you have always been responsible for Alipay. What do you think?"

Li Yifei was named by Fang Zhe. He looked up for a circle. Finally, his eyes stayed on Fang Zhe and said, "president Fang, are you worried about the regulatory department?"

Fang Zhe's face was calm and nodded gently. It seemed that Li Yifei had seen this step long ago.

Without waiting for Fang Zhe to speak, Li Yifei directly explained to other executives:

"Since the end of last year, the above and the central bank have become more and more strict in the supervision of third-party payment companies and related financial companies. A few days ago, the central bank issued new regulations requiring non bank payment companies to obtain relevant payment licenses to operate in China. As a third-party payment company, Alipay has also received the notice of the central bank."

"But what does this have to do with our split payment system? Is it... Foreign capital?" Huang Siyi asked half of the questions and guessed the answers to some questions.

Li Yifei replied: "yes, it is pointed out in the regulations that any payment company accepting foreign investment must abide by the relevant regulations in terms of business scope, foreign investment qualification, proportion of foreign capital and so on."

Huang Siyi nodded. It seemed that as he guessed, it was related to foreign investment. If Huizhong accepted overseas capital investment in the future, the restriction on Alipay was indeed an issue to be considered. However, Huang Siyi asked with some confusion:

"Then let's just come according to the regulations. Why bother to dismantle Alipay? I'm afraid it will have many adverse effects on the development of our parent company and Alipay in the short term. Even if we wait another year or two, it's better than now!"

Li Yifei showed an indescribable smile on his face and said, "although the regulations say that there are access conditions for foreign investment, the specific conditions are not clear!"

Huang Siyi was puzzled when he said this, but without waiting for him to think about it, Fang zhe opened his mouth:

"Do not think too much, the domestic third party payment is not only our payment, but also on the top of us, there are two bigger fortunes and Alipay, especially Alipay, which has been relying on Taobao for more than 6 years. Now people are the boss of this industry."

Huang Siyi, who is the head of the investment department of the Hui people, said that he had understood what it meant by this. Obviously, the above inhibition was mainly directed at the boss of Alipay. He knew that the largest shareholder of Ali in Alipay was foreign capital.

Fang zhe said: "seeing this provision, I think Ma should have a bigger headache than us. It doesn't specify the specific access conditions. It can be seen that there are still many variables in this matter.

The payment and financial industries are different from others. They are very strict with this industry, both at home and abroad. In the future, when we collect public financing and even go abroad for listing, the proportion of foreign capital is not something we can fully grasp. Once the hoop is too tight, it is likely to affect the development of our whole company.

Moreover, the payment and financial industries are related to many industries, and each industry may have different foreign investment access conditions. Instead of being so troublesome in the future, it's better to spin off the payment link before we introduce foreign investment. "

Several executives nodded in agreement, and Li Yifei added:

"At present, the correlation ratio between the business of Alipay and the parent company is getting lower and lower. E-commerce business has become the main driving force for the current development of Alipay. However, I guess you should give us Alipay and prepare a big gift!"

Fang zhe looked at him and smiled, thinking that this guy is getting better and better now. Indeed, wechat and Alipay are still two independent products. In the future, after wechat develops and grows, many users of wechat will be a big gift prepared by Fang zhe for Alipay!

Think of the number of users that WeChat paid far more than Alipay in previous years. Fang Zhe is looking forward to the combination of WeChat and payment in the world with huge users. What potential will there be in the future?

On the morning of June 9, Fang zhe held a plenary high-level meeting at Huizhong headquarters in Yanjing.

At the meeting, Fang zhe announced to all senior executives that Huizhong decided to split its wholly-owned subsidiary Alipay into an independent company. After the split, some of Huizhong's existing shareholders and some senior executives will become shareholders of Alipay, while Fang Zhe is still the largest shareholder of Alipay.

Fang zhe will hold 85% of the shares of Alipay through another company with 100% shares of Fang Zhe. In addition, Li Yifei, Zheng Siwen and other shareholders will hold 7%, 3% and 5% of the shares respectively.

After the spin off of Alipay, Li Yifei still served as president and CEO, and Fang zhe served as chairman. Considering the future development of Alipay and its complex business relationship with Huizhong, Huizhong shareholders such as Fang Zhe and Zheng Siwen raised funds through shareholder dividends and injected nearly 1 billion yuan into Alipay!

Although the future Alipay is nominally independent, its business relationship with Huizhong will probably continue to be complicated. Fortunately, whether it is Alipay or Huizhong, their big boss is Fang Zhe. Even if many problems need to be handled in the future due to various reasons such as financing and listing, it is no big deal for Fang Zhe.

In the past, Ali's chief executive, Alipay and Alibaba, were much more complicated than him. The master is the teacher. Fang zhe just needs to learn more from these cattle!