"2.质保计划拨备从8.5%提高到11%以及2亿特殊风险拨备是一种保守的策略，是为了应对潜在的风险，而并非是去弥补已经爆发的风险。其次，根据财务官说法，拨备足够的质保金，主要目的是保证给理财端投资者提供具有竞争力的回报。也就是说，宁可牺牲一些公司的利润，也要保证投资者目前8%左右的收益。所以，这其实是一种保守的、负责任的策略，而并非是风险爆发后的亡羊补牢" Their 60billion loans originated in 15, 16 actually only has 7% assurance fund. YRD need to pay additional into the assurance fund quarter after quarter from now, and it will be more and more. And nobody knows how much more they will end up paying. This is the key. If 11% persistent, this company will have no profit. A total of 33% interest income, 11% to assurance, 11% to investors, 6.5% to acquisition cost, 3% to management, tax, and origination expense. The math does not work out.