after two consecutive years of losses, cancellation of branches, and removal of apps, jiutai fund received another 20 million yuan in capital from shareholders
2024-09-20
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one year later, jiutai fund management co., ltd. (referred to as "jiutai fund") received another capital increase from its shareholders.
on september 20, kunwu jiuding investment holding co., ltd. (hereinafter referred to as "jiuding investment", 600053) announced that in order to meet the sustainable development needs of jiutai fund, jiuding investment's wholly-owned subsidiaries kunwu jiuding investment management co., ltd. (hereinafter referred to as "kunwu jiuding"), tongchuang jiuding investment management group co., ltd. (hereinafter referred to as "jiuding group"), and lhasa kunwu jiuding industrial investment management co., ltd. (hereinafter referred to as "lhasa kunwu") plan to increase capital in jiutai fund by rmb 20 million.
among them, kunwu jiuding plans to invest 6.84 million yuan, increasing the registered capital by 4.10 million yuan. after the capital increase, the shareholding ratio will increase from 26.73% to 26.99%, making it the largest shareholder; jiuding group plans to invest 6.58 million yuan, increasing the registered capital by 3.95 million yuan. after the capital increase, the shareholding ratio will increase from 25.73% to 25.98%, making it the second largest shareholder; lhasa kunwu plans to invest 6.58 million yuan, increasing the registered capital by 3.95 million yuan. after the capital increase, the shareholding ratio will increase from 25.73% to 25.98%, making it the third largest shareholder; huayuan securities, the fourth largest shareholder of jiutai fund, waived its priority subscription right for the same proportion of capital increase.
the announcement shows that of the 20 million yuan of capital increase, 12 million yuan will be used as registered capital and 8 million yuan will be included in capital reserve. after this capital increase, jiutai fund's registered capital increased from 330 million yuan to 342 million yuan.
the reporter of the paper found that this is not the first time that jiutai fund has received capital increase. on july 6, 2023, jiuding investment issued an announcement that kunwu jiuding, jiuding group and lhasa kunwu intend to increase capital to jiutai fund by 50 million yuan. earlier in 2015 and 2016, jiutai fund also received capital increase from shareholders.
however, a reporter from the paper found that after the previous capital increase, jiutai fund's development did not show any significant improvement. instead, it took further steps to cut costs.
on august 14, 2024, jiutai fund announced that due to business development needs, the office address of jiutai fund has changed. the office address before the change was the first and second floors on the west side of building 1, no. 2, yangshan park, no. 30, anli road, chaoyang district, beijing. the office address after the change is the first floor on the west side of building 1, no. 2, yangshan park, no. 30, anli road, chaoyang district, beijing. compared with the past, one office building has been reduced.
on june 13, 2024, jiutai fund announced that according to the company's strategic development needs, jiutai fund cancelled its shanghai branch.
on november 21, 2023, jiutai fund issued an announcement stating that it will shut down the operation and maintenance services of the mobile jiutai fund app and wechat service account "jiutai fund service account" from 18:00 on november 23, 2023.
"low traffic, low retention and high maintenance costs of apps are the main reasons why fund companies remove apps from their shelves." industry insiders said that some fund companies will choose to allocate resources and rely on third-party sales channels to help acquire customers. after all, building a brand and operating it still costs money and manpower.
another person from a public offering marketing department in east china said that under the matthew effect, the differentiation of china's public funds is not only reflected in the scale of management, but also in app operations. some small and medium-sized public fund companies cannot afford the high investment, and their ability to serve customers and sales reach are very limited.
according to the official website, jiutai fund was established on july 3, 2014, with a registered address in beijing and a registered capital of 300 million yuan. according to jiuding investment's 2024 semi-annual report, as of the end of the first half of 2024, jiutai fund achieved operating income of 9.5955 million yuan, a year-on-year decrease of 43.31%; net profit loss was 18.4962 million yuan, a decrease from the same period in 2023.
in the long run, jiutai fund has been in the red for five years since its establishment ten years ago. in 2022 and 2023, jiutai fund suffered annual net profit losses of tens of millions for two consecutive years.
source: the paper reporter based on wind data statistics
wind data shows that as of the end of june 2024, jiutai fund's total net asset value was 1.351 billion yuan, ranking 173rd among public offering institutions, of which the scale of mixed funds was 971 million yuan. it is worth noting that jiutai fund reached its peak at the end of 2017, when the fund management scale was 14.397 billion yuan. since june 30, 2021, jiutai fund's management scale has declined year by year, shrinking by 10.631 billion yuan in three years.
in terms of fund product performance, as of september 19, 2024, from the performance of jiutai fund's 23 managed funds, only jiutai ritianjin achieved positive returns during the year, with the a share earning 0.92% and the b share earning 1.02% during the year, but still underperforming the benchmark during the same period. the remaining 22 fund products all closed down during the year, accounting for more than 90%.
at the same time, as of the end of june, the above 23 funds were all “mini funds” with a fund size of less than 200 million yuan, of which 12 funds had a size of less than 50 million yuan, hovering on the edge of the liquidation red line.
the paper reporter ding xinqing
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