Tianhong Fund disclosed the report of Yu’E Bao’s first three quarters’ performance in 2014 on 24 October. As of 30 September 2014, total transaction value of Yu’E Bao exceeded RMB534.9 billion ($87.46 billion) with a decrease of 6.8% quarter on quarter in Q3 2014.
Yu’E Bao users made profit of RMB5.7 billion ($0.93 billion) in one quarter and the total profit generated since its birth on June 2013 was over RMB20 billion ($3.2 billion). On average, each user made profit of RMB133 ($21.74).
According to the latest data, total transaction volume of Yu’E Bao was 428 million with a total worth RMB206.8 billion ($33.81 billion) in Q3 2014, an increase of 53.16% quarter on quarter.
There was a net redemption of RMB39.27 billion ($6.42 billion) by the end of Q3 2014, which was the first quarterly decline of Yu’E Bao. The main reason was that some high net worth individuals with money management skills reduced their investment in Yu’E Bao.
The number of Yu’E Bao’s users increased to 149 million in Q3 2014 in China. The number of users increased by 25 million in a single quarter with an growth rate of 20%. Yu’E Bao is still growing rapidly in China. In tier-1 and tier-2 cities, the growth rate was 14% while it had a user growth rate of 21% in tier-3 and tier-4 cities.
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