11月20日，深圳市地方金融管理局发布公告，同意深圳市财付通网络金融小额贷款有限公司（下称"财 付通小贷"）完成新一轮增资，注册资本由105.26亿元增至150亿元。 公告显示，深圳市腾讯网域计算机网络有限公司出资42.5亿元，深圳市腾讯计算机系统有限公司出资约 2.24亿元，均以货币形式注入。 增资完成后，财付通小贷股权结构保持不变。其中，深圳市腾讯网域计算机网络有限公司持股比例 95%，深圳市腾讯计算机系统有限公司持股比例5%。 自2020年以来，这已经是财付通小贷第6次增资。此次增资后，其注册资本在全国网络小贷机构中排名 第二，仅次于字节跳动旗下中融小贷的190亿元。 近年，小贷行业呈现冰火两重天态势。一部分小贷公司为了满足监管新规，将注册资本增至50亿元及以 上；另一些自身经营不善的小贷公司，则选择主动离场。 5年来6次增资 财付通小贷成立于2013年10月，是腾讯控股旗下的小额贷款公司。据天眼查，马化腾间接持有该公司接 近60%股权，为实际控制人。 财付通小贷业务涵盖小额贷和互联网贷，主要产品有"分付"和"分期"。其中，微信分付资金由财付通小 贷及合作金融机构提供；微信分期资金仅由合作金融机构提供， ...

Core Viewpoint - The small loan industry in China is undergoing a significant restructuring, with over 300 small loan institutions being canceled or withdrawn this year alone, indicating a deepening industry reshuffle [1][3][4] Group 1: Industry Overview - The cancellation of trial qualifications for small loan companies, such as Fox Internet Microfinance and Alibaba Microfinance, reflects a broader trend of regulatory tightening in the sector [2][6] - As of June 2025, there were 4,974 small loan companies in China, a decrease of 107 from the previous quarter, with a total loan balance of 736.1 billion yuan, down 18.7 billion yuan in the first half of the year [3][4] - The regulatory environment has led to a significant reduction in the number of small loan companies, with the number of companies exiting the market in the first half of 2025 exceeding the total for the entire year of 2024 [3][4] Group 2: Regulatory Environment - Local financial regulatory authorities are implementing a "control new additions, reduce existing" strategy to clean up the small loan sector, focusing on companies that are poorly managed or at risk [4][5] - The regulatory framework has become increasingly stringent, with a focus on identifying and eliminating "lost contact" or "shell" small loan companies [6][8] - The financial regulatory bodies aim to reduce the total number of local financial organizations within three years, targeting non-compliant and severely violating institutions [8][9] Group 3: Company-Specific Developments - Alibaba Microfinance was the first company approved to operate small loan services nationwide but ceased operations by November 2022 and is now in the process of liquidation [6][7] - Other Alibaba-related small loan institutions have also been restructured or dissolved, indicating a trend among major internet companies to exit the small loan business due to regulatory pressures and operational challenges [7][8] Group 4: Future Outlook - The small loan market is expected to experience further differentiation, with stronger and more compliant companies focusing on serving underserved sectors such as small enterprises and low-income populations [9] - Companies are encouraged to enhance their governance structures and risk management systems to adapt to the evolving regulatory landscape and market demands [9]

Core Viewpoint - The small loan industry in China is undergoing a significant "shuffle" due to strict regulations and industry changes, leading to the cancellation of many non-compliant small loan companies across various regions [1][4][5]. Group 1: Regulatory Actions - Multiple regions, including Beijing, Yunnan, Hunan, Inner Mongolia, and Shenzhen, have announced the cancellation of operating qualifications for several non-compliant small loan companies, focusing on "zombie" and "missing" companies [1][4]. - Shenzhen's local financial management bureau has published a list of companies identified as "missing" or "shell" small loan companies, mandating their exit from the industry within 60 days [2][3]. - The central bank reported that as of March 2025, there are 5,081 small loan companies in China, a reduction of 176 from the end of 2024, with a loan balance of 736.6 billion yuan, down 18.3 billion yuan in the first quarter [1][4]. Group 2: Industry Trends - The ongoing cleanup of small loan companies reflects a broader trend of tightening regulation and the need for the industry to evolve towards a more standardized and healthy direction [6][7]. - Experts indicate that the reduction in the number of small loan companies is driven by both external regulatory pressures and internal challenges faced by companies in finding effective business models [6][7]. - The industry is expected to continue experiencing a decline in the number of local financial organizations, including small loan companies, as regulatory bodies implement strategies to control new entries and reduce existing ones [5][6]. Group 3: Future Outlook - The market for small loan companies is anticipated to become more differentiated, with stronger and more compliant companies expected to thrive by focusing on serving underserved sectors such as small enterprises and low-income populations [8]. - Companies are advised to enhance their governance structures, risk management systems, and operational transparency to adapt to the evolving regulatory landscape [8]. - There is a call for regulatory bodies to expedite the development of guidelines for online small loans, particularly focusing on companies with low registration capital that engage in nationwide lending [8].