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A few days ago, Diguantong was publicized as an internal online "leader plan" to encourage employees to start their own businesses. However, the content of the plan caused great controversy.
It is reported that the employees of Diguantong can contribute 1 million yuan by themselves and the company can allocate 9 million yuan to jointly establish SPV (Special Purpose Vehicle). The employees are the partners of SPV, and a team will be formed to help SPV continue to tap high-quality assets to be listed on Diguantong Australia Exchange, so as to create investment opportunities and returns. Employees who do not register will be transferred or resigned. This news has caused great discussion.
Afterwards, DDT responded to this. Diguantong believes that a selected group of key personnel will be divided into several teams, funded by the company, and part of the team will follow the investment, so as to form a group of professional investment institutions with different priorities and explore investment strategies in different fields separately. Diguantong admitted that this would bring about the adjustment of the company's organizational structure, so it had to cancel or adjust some posts.
On May 22, a reporter from the Securities Times learned from the inside of Diguantong that the layoff of the company was a fact, involving more than 100 employees, accounting for a quarter of the total number of employees. The relevant person of Diguantong told the reporter that as a startup company, this was the hardest decision that Diguantong had to make since its establishment.
Management error, layoffs are true
Previously, when the Securities Times reporter interviewed Li Xiaojia, the founder of Diguantong, he introduced that at the beginning of its establishment, Diguantong directly invested its own funds to build a model. The original intention was to connect international large capital and Chinese small enterprises, not just to do capital business, but to establish a new market (exchange). The current digital revolution has made this idea possible.
But today, the management said frankly that due to the rapid growth of the company's size, the management did not have a deep understanding at that time. Although they had noticed, they did not have enough control. As a licensed exchange, it must always reserve sufficient long-term strategic reserve capital to leave more time and space for market development.
On May 13, Drip Irrigation sent a letter to all employees, announcing the company's latest strategic plans, namely "Leader Plan" and "ETF Plan".
The so-called "leader plan" means that the employees raise 1 million yuan by themselves, and the drip irrigation company allocates 9 million yuan to establish an SPV. Literally, SPV is a "carrier company" set up for "a certain purpose", or it can be understood as a "shell company with a specific purpose".
In the SPV of Diguantong, employees will become partners and form a small team to be responsible for daily operation, business decision-making and foreign investment. Simply understood, employees used to look for projects for investors, but now they are digging high-quality assets for themselves and then listing on the Diduan Tong Australian Exchange.
Li Xiaojia and Zhang Gaobo, the founders of Diguantong, mentioned in their letters that Diguantong has entered the stage of "two-stage rocket". In the stage of "first stage rocket", drip irrigation uses its own money and strength to test the feasibility of the drip irrigation mode - in the face of the historic problem of investing in small and micro stores, it uses the success of the digital revolution to break a new path and establish a model for the world. With the success of the "first stage rocket", Diguantong has completed the foundation of the market construction of Diguantong Australia Stock Exchange. In the "second stage rocket" stage, Diguantong began to organize the money and power of the market to truly overcome the global historical problem of investing in small and micro stores.
Therefore, the relevant manpower and resources allocated in advance for direct investment in the early stage are not suitable for the new stage and new tasks. "Keeping enough strategic capital also means that we must strictly control operating costs at all times. This is the fundamental reason why we have to make downsizing adjustments," said an insider of Diguantong.
"With the launch of the company's" two-stage rocket "strategy, the organizational structure of the company's relevant departments also needs to be adjusted. This adjustment includes job changes and staff reductions, involving more than 100 employees in offices in different regions. We have provided employees with N+3 severance compensation, and also express our deep regret to them." The above said.
The drip irrigation model has been questioned many times before
The market has never been short of disputes about the drip irrigation mode. Previously, Song Xiangqian, a consumer investor and the founding partner and chairman of Jiahua Capital, publicly pointed out the business model of Diguantong, saying that "it is essentially a usury and an upgraded P2P". His comments mainly focus on the following points:
1. Questioning the financial innovation model of Diguantong, since it is non equity and non debt, what is Diguantong?
2. In the "daily operating income sharing" model of Diguantong, the interest income should not be less than 20%, which is infinitely close to the standard of usury, namely 24%. Therefore, Diguantong is more like usury, an upgraded P2P.
3. Doubt that there are legal and regulatory loopholes in the cross-border structure of drip irrigation.
The Securities Times reporter interviewed Li Xiaojia previously. In his opinion, the Daily Revenue Contract (DRC), as a new asset class with digital empowerment, enables investors to directly and decentralize their investment in a large number of small and micro businesses in China, and share transparent and safe investment returns every day. Because China's digitalization allows the in store account system to be monitored at any time.
How to understand daily revenue sharing? Li Xiaojia said that it is actually the discounted financing of income cash flow. For example, Zhang San's Pickled Cabbage Fish Restaurant wants to open a new store and borrow money from Diguantong, but the premise is that the daily income of Zhang San's old store of Pickled Cabbage Fish Restaurant should be divided according to the proportion agreed in the contract. For example, the contract stipulates that the investment is 300000 yuan, and the investment period is 24 months. The investment will be divided into 10% of the daily income. After the principal is recovered, the daily income will be discounted by 5%. Assuming that Zhang San's old store earns 10000 yuan a day, then Diguantong can get back 1000 yuan a day. One month is 30000 yuan, the principal will be recovered in 10 months, and the remaining 14 months will be divided into 5% of the daily accounts.
"I think it is a good thing to have disputes in the market, and it is also a good thing to be discussed. When we do this, the purpose is to bring international large capital into small and micro enterprises. First of all, we are very clear that we cannot bring international capital into China's small and micro enterprises by equity investment, because it will be troublesome to change procedures for industry and commerce. Second, we cannot lend to small and medium-sized enterprises in the form of debt, because we do not require small stores to provide guarantees. If they lose money, they will not be repaid. " Li Xiaojia said.
However, it seems that the current drip irrigation model has encountered bottlenecks and problems, but Li Xiaojia's words are still in the ear, "Even if this matter (capital injection into Chinese small and micro enterprises) both of us (Zhang Gaobo) fall, I have to persuade people with skills to go forward every day."
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