Jin Xiaolong, Chairman of Online Commercial Bank, concurrently serves as Ant Consumer Finance, replacing Ant | Chairman | Consumer Finance
Chongqing Ant Consumer Finance Co., Ltd. welcomes a change in chairman.
On July 14th, the Chongqing Banking and Insurance Regulatory Bureau issued an approval on the qualification of Jin Xiaolong to serve as the chairman of Chongqing Ant Consumer Finance Co., Ltd., which showed that Jin Xiaolong's qualifications were approved. The proposed candidate shall take office within 3 months from the date of the decision, and report their appointment status to the Chongqing Banking and Insurance Regulatory Bureau within 5 days after taking office.
While serving as the Chairman of Ant Consumer Finance, Jin Xiaolong is also Senior Vice President of Ant Group and Chairman of Online Commercial Bank.
Ant Consumer Finance is a licensed financial institution approved by the China Banking and Insurance Regulatory Commission in June 2021, mainly undertaking the consumer finance business of Ant Group after rectification. The first chairman was Huang Hao, President of Ant Group's Digital Finance Business Group. The initial approved registered capital of Ant Consumer Finance was 8 billion yuan, with Ant Group holding 50% of the shares. At the end of 2022, Ant Consumer Finance's registered capital increased from RMB 8 billion to RMB 18.5 billion. Hangzhou Jintou Digital Technology Group Co., Ltd., Zhejiang Shunyu Optics Co., Ltd., and Chuanhua Zhilian Co., Ltd. invested in Ant Consumer Finance, with 12 shareholders, and Ant Group's shareholding ratio remained unchanged.
The latest annual report shows that as of the end of 2022, Ant Consumer Finance's total assets were 106.233 billion yuan, total liabilities were 98.457 billion yuan, and total owner's equity was 7.776 billion yuan. In the fiscal year 2022, Ant Consumer Finance achieved a net profit of 841 million yuan, and all regulatory indicators met regulatory requirements.