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Jiayin increased its registered capital to 550 million RMB

  Apr 18, 2019  

On April 17, Jiayin said that the registered capital of its subsidiary, Niwodai Internet Financial Information Services Co. Ltd., increased to 550 million RMB. Jiayin shows that it has completed the change of business information, and it will be announced for the first time after the completion of the work.

In the future, funds will be used to strengthen the company's core capacity building in risk control, data, technology, and promoting the "data plus technology" strategy.

In March, Jiayin updated its prospectus again and disclosed the financial report for 2018. The data shows that Jiayin's operating income and net profit both increased a lot, while the overdue rate decreased.

The increase in registered capital may be related to regulatory requirements.

Previously, a "Principal Recording Work Plan for Online Lending Information Intermediaries" on the details of P2P online loan filings was circulated on the Internet. According to this "Pilot Work Plan," the supervision of online lending institutions will strictly classify the types of online lending institutions, and the online lending institutions will be divided into single provincial-level regional operations and national operations according to their business scope.

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