Chinanews.com Financial News, on June 29, Star Bank announced on its website that Lei Jun had retired as chairman of the board of directors.Xiaomi GroupLin Shiwei, Vice President and Chief Financial Officer, officially became Chairman of the Board on June 23, 2021, and thanked Lei Jun for his continued contribution to Star Bank. Lei Jun will continue to focus on Xiaomi Group's business development and new product development, while continuing to support the development of Star Bank at the Xiaomi Group level.

Born in Hong Kong, Lin Shiwei received a master's degree from Oxford University in his early years. Since then, he has been engaged in the financial industry with more than 20 years of experience, and has served as the managing director of two well-known international investment banks. Mr. Lam is not only familiar with the local market in Hong Kong, but also has an international perspective and has profound industry knowledge and experience in the field of global financial markets. Lin Shiwei joined Xiaomi Group in October 2020 and is currently vice president and chief financial officer of the group.

Star Bank said that the Board believes that under the leadership of Mr. Lin, Star Bank will have a positive development in all aspects. The Board of Directors of Star Bank welcomes Mr. Lin Shiwei as Chairman of the Board and thanks Mr. Lei Jun, the outgoing Chairman, and Xiaomi Group for their long-standing support to Star Bank.

According to the official website, Star Bank is jointly established by Xiaomi Group and Shangcheng Group. Star Bank was granted a banking licence by the Hong Kong Monetary Authority on May 9, 2019 and officially opened on June 11, 2020. Adhering to the concept of inclusive finance, Star Bank strives to make everyone enjoy the fun of financial technology and become "everyone's bank", so that every customer can have more convenient access to innovative virtual banking services.

According to the financial report, the total income of Star Bank in 2020 was HK $15.572 million, of which interest income was HK $23.571 million, interest expense was HK $10.174 million, operating expenditure was HK $241 million, pre-tax loss was HK $232 million, and total assets were HK $2.88 billion.LiabilityIt was HK $1.677 billion, with an asset-liability ratio of 59.47%.