Luo Fan's hometown, Xiahe Town, has a stable sales volume with Luo Fan's help from a large number of fruits and vegetables in Xiahe Town. The remaining part is transported to the city and sold in a direct sales store for fruits and vegetables that were invested in by the town.

The person in charge of the direct sales store of fruits and vegetables was named Luo Zhou. When he was young, he was sentenced to 20 years of being paralyzed because he fought with others and beat them up as paralyzed.

Although he had several commutation times, he had been in prison for 12 years before he came out.

The people from Lao Luo's family were quite affectionate and kind, and helped Luo Zhou, asking him to be responsible for the direct sales store in the city, with a basic salary of 2,000 yuan per month plus a 10% dividend in the store.

At 9 pm, Luozhou, which had just finished the direct sales store business, began to calculate its revenue today.

Luozhou will record every transaction every day, so that people in the town can come and reconcile.

It took nearly 15 minutes before Luozhou settled the cash in the cash register, plus the amount on Xingchao and Alipay, and the income today was about 3,000 yuan, and the business was pretty good.

"It's really troublesome to collect cash. It's more convenient to pay Alipay or Xingchao. There's no need to find change, no calculation, no need to deposit in the bank, no need to exchange change or whole coins. It's much more convenient than that." Luo Zhou murmured to himself.

After saying that, Luo Zhou stretched and turned off the cash register. Now he felt that his life was very fulfilling, and his family was about to tell him a wife, and life was getting more and more hopeful.

After Luo Zhou closed the store door, he hummed a little tune and returned to the room behind the store.

Luo Zhou lay on the bed and habitually opened Douyin. As soon as he swiped two, Luo Zhou saw that he swiped out the advertisement video about "Yu'ebao" on Douyin.

After watching the video, Luo Zhou was immediately attracted by the annual interest rate of 6%.

The money he earns in Luozhou is all in the bank, and the interest rate of 6% is much greater than that of him who deposits the money in the bank.

Luo Zhou believed in the things about Xingchao, because Xingyuan was the company of their Luo family’s children. Without any hesitation, he directly deposited the 12,000 yuan salary he paid last month.

A line of small words below the amount shows the estimated interest rate today of 1.63 yuan. Although it doesn’t seem to be much, compared to depositing it in the bank, it will be much more or less.

Luo Zhou's eyes lit up and he sat up from the bed excitedly. He planned to go to the bank tomorrow, withdraw all the tens of thousands of dollars he had saved before, and deposit it into Yu'ebao.

Yu'ebao's listing on Labor Day on May 1 did not affect its popularity.

Especially after a few days, when the deposited cash has interest returns, users, friends, and colleagues will start to spread each other.

This has also led to more and more users starting to deposit their bank card change into Xingchat.

After all, one is the current annual interest rate at 0:00, and the other is 6%. All fools know how to choose.

The money deposited in Yu'ebao is actually all in Xingyuan's funds, and the numbers on the user's books, whether it is principal or interest, are actually numbers. If the user makes Xingchat payment or red envelope, the one sent is just numbers.

Unless the user withdraws, the money is returned to the user from the fund.

In any other situation, any transaction, these funds are on the fund accounts of Xingdao.

In the banking field, there is a professional term called minimum margin, which refers to the ratio of cash that a bank can use to all deposits. The higher the ratio, the lower the financial risk, but the disadvantage is that profits will also be reduced.

Yu'ebao also has such problems, but after communication from CITIC Bank, it also began to control the entire Yu'ebao with its management system in order to find the best balance between profits and risks.

(ps: The main body of the above information is from Zhihu. The original author indicated that the source of the reprint and quotation should be stated. Let me explain it here.)

With the full advertising and promotion of Xingyuan’s major APPs, coupled with self-promotion among users.

In just half a month, Yu'ebao raised more than 10 billion yuan of funds. At the same time, because of the bizarre interest, many people have begun to put in large amounts of funds.

...

In Shanghai, Luo Fan, Xingyuan Headquarters, felt so comfortable when he looked at Yu'ebao's data.

This comfort is not only because of Yu'ebao's good achievements, but more because this plan belonged to Alipay in his previous life.

In fact, in Luo Fan's impression, it seems that Yu'e Bao was in 2013, and the money Luo Fan earned in 2013 was saved in Yu'e Bao.

But for some reason in this life, Alipay has not launched Yu'ebao, which has made Luo Fan take advantage of the loophole.

At the same time, there was a sound of bells smashing things in Hangzhou, Alibaba headquarters, and General Ma's office.

"Why did Xingyuan know the plan we put on hold? Even the name is the same. Can you give me an explanation?" Mr. Ma asked coldly at the person below.

As Luo Fan thought, Alipay had this plan long ago to raise idle funds from users.

However, in 2013, due to Xingyuan's intervention, the takeaway subsidy war broke out early.

Alibaba's senior management believes that compared with this plan, it is more important to maintain Alibaba's position in the payment field.

The field of takeaway has an important impact on payment, and Alibaba cannot give up.

So Alibaba decided to temporarily shelve the Yu'ebao plan and fully support the competition in the takeaway industry.

However, this shelving has been put on hold for many years.

In addition, Xingyuan Payment will grow little by little in the future, and Xingyuan has formed an alliance with Baidu, Rice and JD.com, and Alibaba's dominant position in the payment field has been repeatedly challenged.

Mr. Ma had no choice, because at this time, it is the most important thing for Alibaba to maintain its basic foundation.

But Mr. Ma never expected that his company's shelved plan would be implemented by Xingyuan. What's more important is that even the name of the plan is the same.

Seeing that Mr. Ma's anger was about to explode completely, Mr. Ma's assistant Xiao Wang said with a tough bullet and said, "Mr. Ma, this time it was a mistake in our work, and we didn't expect that insiders would leak the news."

As Mr. Ma’s assistant, Xiao Wang is the person he trusts the most, and he can only say this.

Mr. Ma said with a cold face when he heard this: "What I am angry about is not that the plan is leaked, but that there are not many people who know about this plan, and they are all senior executives and shareholders of our company. What I am afraid of is that some people no longer have the same heart as us."

After hearing Mr. Ma's words, everyone present changed their faces.

Mr. Ma’s words are both a harsh and a reminder.

The people who were beaten are naturally the people present. At the same time, Mr. Ma also told them that most of the leaked plans were some shareholders who were dissatisfied with Alibaba's past operations.

"But it is also possible that we are thinking too much. Luo Fan may have dreamed of this plan!

So we should not go to investigate if we make a big fuss. Unless there is real evidence, we should just pretend that this matter does not exist."

Mr. Ma’s words meant not to expand the situation any longer. Alibaba can’t afford to turn against the shareholders now.

All the people present were all humans, so they naturally understood what Mr. Ma said.

So Alibaba’s trusted CEO Mr. Zhang asked: “Mr. Ma, what should we do next?”

"We can do this in Xingchao, of course we can do it too. Our plan was halfway through before, so we can take it out now and continue to implement it!

Xingchao has a large number of users. If we really absorb enough funds, it will be too late for us to enter the market again."

As Mr. Ma said, the users on the market are limited, and the idle funds of these users are also limited. Once they are over-absorbed by one party and the people behind them want to catch up, it will be even more difficult. It is necessary to have higher interest rates and greater traffic.

But the former will increase Alipay's financial expenditure, while the latter Alibaba does not have this condition at all.

Mr. Zhang nodded and said, "Don't worry, Mr. Ma, give me 10 days and I will definitely be able to launch our own Yu'ebao."

"Well, I believe in your abilities."

...

A similar conversation happened at the Penguin headquarters on the other side.

"In just half a month, Xingyuan received tens of billions of funds. This achievement is terrifying!" Mr. Ma sighed.

Mr. Zhang, the person in charge of WeChat, quickly echoed: "It's really scary."

"The number of users in Xingchao itself is quite large. After this Spring Festival Gala red envelope, at least 90% of users have bound bank cards on wx.

With this foundation and the publicity is strong enough, it is not surprising that it will raise 10 billion yuan.

And this is just the beginning. According to my estimate, in a year or two, hundreds of billions may not be a problem." Penguin's Cfo Mr. Luo said.

"Ten hundred billion!" Mr. Ma's face was already very ugly when he heard this number.

"Mr. Luo, is Xingzha using this money to earn interest spread?" asked Mr. Zhang.

"It should be that according to my understanding of banks, 100 billion should have an annual interest rate of 8% or even 10%. Even if it is only 8%, Yu'ebao will only take out 6% of the interest rate, which means that they have at least 2% interest margin, and they will be able to make a net profit of 2 billion without doing anything in that year." Mr. Luo replied.

"This should be just theoretical data, right? They will definitely have other consumption." Mr. Zhang glanced at Mr. Ma, whose face was as dark as the bottom of the pot, and said.

Seeing this, President Luo hurriedly remedy: "Mr. Zhang is right. There will definitely be other consumptions, and it will consume a lot. After all, it has to manage so much funds."

Mr. Ma's face looked a little better. He picked up a report and said: "Xingyuan's game business has very good performance overseas, and the market prospects are very good both in mobile games and PC games.

Several games have reached the top of the Apple APP download rankings.

The popularity of the "PUBG" league is already on par with that of League of Legends. This year, I can't suppress the popularity of this game at home, let alone abroad.

In addition to the huge traffic of Xingyuan’s core APP Daily Toutiao and Douyin, now with this Yu'ebao, Xingyuan is already a well-deserved Internet giant!”

"Yes, in this way, it will be difficult for us to suppress Xingyuan." Mr. Luo said.

In the previous competition between Penguin and Xingyuan, there were two eternal advantages, namely resources and funds. Although Xingyuan is not short of money, the wheel pair dare not burn money at will.

But now, several businesses under Xingyuan have strong profitability. Even if they are not as good as Penguin, they are no longer considered very obvious shortcomings.

Coupled with the huge traffic brought by TikTok and Toutiao, Penguin can no longer suppress Xingyuan.

"Mr. Luo, what would happen if we launched the same business?" Mr. Ma asked Mr. Luo.

Mr. Luo pondered for a moment and said, "First of all, we must find a bank that is willing to cooperate with. Another thing is that Xingda has taken this first step and has absorbed a lot of funds. In this area, it is difficult for us to surpass each other.

And I guess Alipay should also launch similar businesses, and its advantages are even greater than ours.

But this business can be done, no matter what the final data is, it can be profitable."

Mr. Ma nodded and said, "Then do it. What I worry most is not how much money Xingchao can make, but if Xingchao's Yu'ebao really has hundreds of millions of users, then these people will really become loyal users of Xingchao. No matter what, they will not be able to abandon Xingchao."

After saving so much money on Xingchat, and there are visible returns every day, users are likely to slowly transfer their social habits, and this is the biggest crisis for Mr. Ma.

What Penguin can stand out among a number of Internet companies now is the social software that almost covers the entire China.
To be continued...