Recently, Blue Whale News learned from the industry that Hong Kong stock fintech company Weixin Financial Technology Co., Ltd. (02003. HK) A deputy general manager and senior product director has left his job and was reported on suspicion of serious disciplinary violations. In addition, he also committed other misconduct during his tenure. Blue Whale News learned that the executive was promoted to Weixin Jinke's Deputy General Manager for less than half a year.
On April 25, Weixin Jinke's core management made a disclosure at an internal meeting. The disciplinary notice stated that the executive's actions violated Weixin Financial Technology's reward and punishment regulations and was a serious disciplinary offense. After research, the management of the company decided to remove the position of Deputy General Manager from April 24, 2024 and terminate the labor contract with him in accordance with the provisions of the “Employee Handbook” and related rules and regulations.
According to Weixin Jinke's official website, the company is a leading fintech platform in China. Adhering to the original intention of “maintaining trust and gathering value”, we are committed to empowering licensed financial institutions through financial technology such as risk assessment, quantification, and intelligent risk control, so that more users can enjoy responsible and trustworthy fintech services.
On the evening of March 26, Weixin Jinke announced that in 2023, the company achieved total revenue of 3,570 billion yuan, an increase of 14.4% over the previous year; operating profit and net profit were 605 million yuan and 454 million yuan respectively, down 13% and 14.8% from the previous year.
Weixin Jinke said that operating expenses and credit impairment losses have increased mainly due to the unbalanced macro environment and the increase in loan fulfillment volume and business scale.
In the same period, the company's loan implementation reached a record high of 75.248 billion yuan, an increase of 44.2% over the previous year; the balance of loans in progress was 34.466 billion yuan, an increase of 37.5% over the previous year. By the end of 2023, Weixin Financial Technology had established cooperative relationships with 104 external funding partners, including 24 national joint-stock commercial banks, consumer finance companies and trusts. In 2023, Weixin Jinke's total number of registered users reached 144 million.
In March 2006, Weixin Jinke established business as one of the first consumer finance service providers in China. Its headquarters and main business location in China are located in Shanghai.
Liao Shihong, founder of Weixin Jinke, said in an interview with the media earlier that he hopes to develop steadily, and that rapid growth is not necessarily a good thing for financial institutions.