Core Viewpoint - The Tianjin Financial Regulatory Bureau has approved Li Bo as the new chairman of JD Consumer Finance Co., Ltd. (JD Finance) [1] Group 1: Leadership Changes - Li Bo is currently the Vice President of JD Group and has over 20 years of experience in the financial industry, having joined JD in 2021 [2] - Prior to his appointment as chairman, Li Bo was approved as a director of JD Finance in early September [4] - JD Finance has also approved six other directors alongside Li Bo [5] Group 2: Company Developments - JD Finance underwent a restructuring process involving multiple institutions, including Tianjin Bank and China Foreign Trade Trust, in December of last year [5] - The shareholding structure of JD Finance was officially approved in January 2025, with a registered capital of 5 billion yuan [6] - JD Finance was officially renamed from Jiexin Consumer Finance in May [8] Group 3: Operational Expansion - JD Finance launched its operations in the Tianjin Economic Development Zone, planning to establish a team of around 200 people and various operational centers [9] - The company has integrated its services with the JD ecosystem, including the JD White Bar payment service, and is also collaborating with external platforms for loan assistance [10][11] - JD has been an early player in the consumer finance sector, launching JD White Bar in 2014 and expanding its financial product offerings [12]

Core Viewpoint - After nearly 20 years of operation in China, Jiexin Consumer Finance Co., Ltd. is officially changing its name to Tianjin JD Consumer Finance Co., Ltd., indicating JD's impending ownership of the consumer finance license [1][2]. Group 1: Company Name Change - The Tianjin Financial Regulatory Bureau has approved the name change of Jiexin Consumer Finance to Tianjin JD Consumer Finance [2]. - The approval date from the Tianjin Financial Regulatory Bureau was May 15, and it was publicly announced on May 19 [2]. - As of May 26, the final business registration change for the name change had not yet been completed [2]. Group 2: Company Background and Market Position - Jiexin Consumer Finance is a significant player in the consumer finance industry, being one of the first licensed foreign-funded consumer finance companies in China [2]. - The company rapidly rose to prominence due to its offline network and credit product capabilities, and there were previous discussions about an IPO [2]. - Following the unexpected death of its original actual controller, Peter Kellner, in March 2021, Jiexin Consumer Finance faced challenges and began seeking restructuring [2]. Group 3: Shareholding Structure - The shareholding restructuring plan for Jiexin Consumer Finance was finalized in December 2024, with JD Group owning 75% of the new company [2]. - China Foreign Economic and Trade Trust Co., Ltd. and Tianjin Bank hold 12% and 10% of the new company, respectively [2]. Group 4: Management Changes - On April 18, 2025, the Tianjin Financial Regulatory Bureau approved Zhang Hanchun as the new general manager of Jiexin Consumer Finance [3]. - Zhang Hanchun became the responsible person and legal representative of Jiexin Consumer Finance on April 21, 2025 [3]. - Zhang joined JD in November 2017 and previously served as Vice President and head of risk management at JD Technology [3]. Group 5: JD's Financial Business - JD's financial operations encompass personal finance, corporate finance, and financial technology, with credit products including JD Baitiao, JD Jintiao, and various loans [3]. - Prior to obtaining the consumer finance license, Chongqing JD Shengji Microloan Co., Ltd. was a core lending license within JD's financial business [3].