Ant Consumer Finance’s capital increase of 10.5 billion yuan was approved

Since Ant Group’s listing plan was urgently suspended in November 2020, and supervision has followed, Ant’s main focus has been on compliance rectification. Where does the ants go, what will happen to Huabei and Bianbei in the future, has attracted much attention. With the establishment of Ant Consumer Finance in June 2021, the capital increase plan of Ant Consumer Finance began to surface in December, and the withdrawal of China Cinda once brought variables to the capital increase of Ant Consumer Finance. Now the “mixed reform” plan has finally landed. Comply with regulatory requirements, but also prepare funds for future business operations.

Based on the rectification requirements of Ant’s credit business, coupled with the large volume of Huabei and Jiebei, Ant Xiaojin completed the capital increase. After the capital increase, the 50% equity ratio of Ant Group remains unchanged, which will not have a substantial impact on the operation of Ant Consumer Finance, which is conducive to the continuation of the business strategy. The state-owned Hangjin Digital Technology and Chongqing Rural Credit Group’s shareholding will help Ant Consumer Finance’s shareholder structure and governance, and will help Ant Consumer Finance’s rectification and subsequent development. After the mixed reform, “Huabei” and “Jianbei” will also be repositioned to complete a gorgeous turn, and the evolved Ant Xiaojin will also be on the right track of development.