In fact, to put it bluntly, we mainly use the money we put in Yu 'ebao to cooperate with the bank, negotiate the interest rate, and deposit the money in the bank to earn interest. Then give us some interest.

In the investment structure of Yu 'ebao, bank deposits account for 92%, bonds account for 7%, and other investments account for 1%. Among them, Yu 'ebao's bank deposits are mainly time deposits, and the proportion of time deposits of 1 month, 1-3 months and more than 3 months is 29%, 48% and 23% respectively. Demand deposits only account for 0.05%.

Analysis on the profit model of Yu 'ebao;

1. Yu 'ebao collects small funds into super-large funds through the Internet, and then obtains a higher deposit yield through agreement deposits, and then returns them to users. Yu 'ebao acts as an intermediary between banks and depositors and benefits from it.

Second, the income of Yu 'ebao business is mainly realized through "parasitism", and it does not have the strength and foundation for value growth. According to statistics from relevant departments, Yu 'ebao cooperates with fund companies, and on average, 90% of its assets are invested in bank deposits or insurance financing. Risk-free premium and excess profit target (mainly commercial banks) are its main characteristics.

Where's Ma Yun? Ant Financial Services, which he founded, is the largest shareholder of Tian Hong Fund, the company where Yu 'ebao works. Tian Hong Fund earned it and Ma Yun earned it.