真正螞蟻金服無法上市的原因是違規!

舉例如果有人拿100萬存銀行每年利息領2萬，但是拿一百萬可以換十萬承兌匯票，而10個承兌匯票乘以10就是一百萬，將這些錢轉來放款就可以進行套利。這種財務手段在近年來引起一些關注，尤其是在中國，雖然一些網紅或明星因稅務問題而被調查。有些情況可能比單純的稅務問題更加複雜。

螞蟻金服在中國金融科技領域具有重要地位，但也面臨監管和稅務方面的壓力。舉例如雙11購物節， 收到來自商家或用戶的大筆款項，暫時存放7到15天，然後透過花唄跟借唄這樣的金融工具，以高利率借貸出去，賺取相當可觀的利息。這樣的操作可以讓他們快速套現，並持續進行多次。

具體來說，當天貓收到3000億元的款項後，他們可以將這筆款項作為債權抵押給銀行，然後拿到七成的現金，即2700億元。接著，他們再次使用花唄跟借唄等工具借貸出去，再次賺取高額利息，然後再將這些債權抵押給銀行，取得現金，持續重複這個過程，每次都可以套現70%的現金，這樣可以持續進行48次，從而實現資金的有效運作。

這種財務操作有時被戲稱為“標準的空手套白狼”，因為它看似合法，但實際上是在合法的邊緣運作，並且可能存在監管和稅務風險。主要的放款資金都是從銀行搬運來進行套利。因此，中國政府開始加強監管金融科技行業，要求這些公司進一步合規，以確保金融系統的穩定和透明度。這些措施也在一定程度上影響螞蟻金服等公司的業務運營。

The real reason Ant Group cannot go public is due to regulatory violations!

For example, if someone deposits 1 million and earns 20,000 in interest annually, they could alternatively exchange the 1 million for ten acceptance bills, each valued at 100,000. By leveraging these funds for loans, they can engage in arbitrage. This financial maneuver has garnered attention in recent years, particularly in China, where some influencers or celebrities have faced investigations due to tax issues. In certain cases, the complexity extends beyond mere tax matters.

Ant Group holds a significant position in China's financial technology sector but faces pressure in terms of regulation and taxation. For instance, during the Singles' Day shopping festival, when receiving substantial sums from merchants or users, they temporarily hold the funds for 7 to 15 days. Subsequently, utilizing financial tools such as Huabei and Jiebei, they lend out the funds at high interest rates, earning substantial interest income. This operation allows them to quickly convert assets into cash and repeat the process multiple times.

Specifically, after receiving 300 billion yuan on Singles' Day, Alipay can use this sum as collateral to obtain 70% in cash, i.e., 270 billion yuan. They then leverage tools like Huabei and Jiebei to lend out the funds again, earning high-interest income. They proceed to use these receivables as collateral to obtain cash, repeating this process, allowing for cash withdrawal of 70% each time. This can be repeated 48 times, ensuring effective fund operation.

This financial operation is sometimes referred to as the "standard empty glove with a white wolf" because it appears legal but operates on the edge of legality, potentially involving regulatory and tax risks. The main lending funds are moved from banks for arbitrage. Consequently, the Chinese government has started to tighten regulations on the fintech industry, requiring companies like Ant Group to enhance compliance further, ensuring the stability and transparency of the financial system. These measures have, to a certain extent, impacted the business operations of companies like Ant Group.