新一轮小贷评级陆续启动，“清退”态势不改，行业仍将持续洗牌

Core Insights - The small loan rating work has commenced across various regions, with Inner Mongolia's financial management authority publicly announcing the ratings for five small loan companies, indicating a mix of ratings from BB to D levels [1][4] - Shenzhen's financial management authority has also released a list of small loan companies rated C and above, with 57 out of 104 companies achieving ratings in this category, including notable firms like Tencent's and Douyin's subsidiaries [3][4] Group 1: Rating Overview - Inner Mongolia's ratings revealed one company rated BB, one rated C, one rated CC, and two rated D, indicating a need for regulatory attention for the lower-rated firms [1] - In Shenzhen, 18 companies received an A rating, 16 received a B, and 23 received a C, showcasing a relatively healthy segment of the small loan industry [3] Group 2: Regulatory Context - The small loan rating system is designed to enhance regulatory oversight, focusing on governance, business operations, risk management, and compliance, with lower ratings indicating higher scrutiny [4] - The ongoing rating process is part of a broader trend where local financial authorities regularly assess small loan companies to ensure compliance and operational integrity [4] Group 3: Industry Trends - The number of small loan companies continues to decline, with several regions announcing the cancellation of non-compliant firms' operating licenses, suggesting a tightening regulatory environment [5] - As of March 2025, there are 5,081 small loan companies in China, a decrease of 176 from the end of 2024, with a total loan balance of 736.6 billion yuan, reflecting a downward trend [5]