TENCENT(HK:00700) Zheng Quan Shi Bao·2025-11-20 18:29Core Insights - Shenzhen Qianhai Financial Technology Co., Ltd. (referred to as "Qianhai Small Loan") has received approval to increase its registered capital from 10.526 billion to 15 billion yuan, adding 4.474 billion yuan [1] - After this round of capital increase, Qianhai Small Loan's registered capital ranks second among online small loan institutions in China, only behind ByteDance's Shenzhen Zhongrong Small Loan Co., Ltd. with a registered capital of 19 billion yuan [1] - The capital increase was completed by two Tencent-affiliated companies, with Shenzhen Tencent Network Computing Company contributing 4.25 billion yuan and Shenzhen Tencent Computer Systems Company contributing 224 million yuan [1] Company Overview - Qianhai Small Loan, established in October 2013, specializes in small loan services and provides credit services for the WeChat ecosystem's consumer credit product "WeChat Fenfu," which is similar to Ant Group's Huabei and JD's Baitiao [1] - The company's capital strength has been consistently improving, with significant increases in registered capital over the years, from 300 million yuan in 2020 to 10 billion yuan, then to 25 billion yuan, and further to 100 billion yuan in 2022 [2] Regulatory Environment - The continuous capital increases of small loan companies are driven by regulatory policies and business expansion needs, with a notable regulatory signal from the draft guidelines issued by the former CBIRC and the central bank in November 2020, which set a capital threshold of 5 billion yuan for cross-provincial operations [2] - The January 2025 regulations from the National Financial Supervision Administration do not set a unified capital threshold but require that the contribution ratio of online small loan companies in joint loans must not be less than 30%, linking business scale directly to capital strength [2]