Core Points - Jiangsu Provincial Communication Administration has been actively addressing the issue of apps and mini-programs illegally collecting and using personal information, with a recent report identifying seven apps, including "Xiao Cheng Borrowing," that have not completed rectification [1][3] - "Xiao Cheng Borrowing" is operated by Nanjing Lezai Technology Microloan Co., Ltd., which has been flagged for violating personal information collection regulations [1][3] - Lezai Technology has registered multiple microloan apps, with "Xiao Cheng Borrowing" being one of them, and the company was established in May 2023 with a registered capital of 100 million yuan [3] Company and Industry Insights - The financial software sector is under strict scrutiny from regulatory bodies, with the National Cyber Security Reporting Center having previously issued warnings regarding multiple financial apps' violations [3] - Lezai Technology's apps are linked to Sanbao Group, raising market concerns about potential undisclosed relationships and the implications for the company's operations [2][5] - The connection between Lezai Technology and Sanbao Group is highlighted by the fact that several apps registered by Lezai Technology share names with those previously registered by Nanjing Hongtu Technology Microloan Co., Ltd., which is linked to Sanbao Group [5][6] - Sanbao Group has faced financial difficulties, including a delisting from the Shanghai Stock Exchange, which raises questions about whether Lezai Technology is a vehicle for transferring Sanbao Group's credit business [7]