Core Viewpoint - Xiaomi Consumer Finance's product offerings and application processes raise questions about compliance with regulatory standards, particularly regarding borrower assessment and information collection [2][3][4]. Group 1: Product and Application Process - Xiaomi Consumer Finance's self-operated product is named "Chengxing Loan," which is currently only available to invited users [2]. - The application process for Chengxing Loan requires minimal information, omitting critical details such as income, loan purpose, and emergency contacts, which are typically necessary for loan assessments [2]. - The company claims to have a loan balance exceeding 10 billion yuan as of January 2023, and it is projected to surpass 18 billion yuan by October 2024 [4]. Group 2: Regulatory Compliance Concerns - The lack of comprehensive borrower information collection raises concerns about Xiaomi Consumer Finance's ability to comply with the 2017 regulatory notice that mandates thorough borrower assessments [2][3]. - The company’s rapid loan approval process, which resulted in immediate rejections, further complicates the narrative around its compliance with regulatory requirements [3]. Group 3: Management Changes - Recent appointments of executives, including the chairman and other senior management, indicate a significant shift in leadership within Xiaomi Consumer Finance, which may lead to changes in its operational strategies [5][6][7]. - The new leadership includes individuals with extensive experience in banking and finance, suggesting a potential shift in focus or strategy for the company [5][6].