On August 30, Chongqing Rural Commercial Bank launched its 2022 semi-annual report back to disclose the efficiency of its affiliate firm, Chongqing Xiaomi Consumer Finance Co., Ltd. The semi-annual report reveals that within the first half of this yr,The web lack of Xiaomi Consumer Finance was 93.196 million yuan, a rise of 43% in contrast with the identical interval in 2021, and its web revenue final yr was 3.68 million yuan.
IT House discovered that as of the tip of the reporting interval, Xiaomi Consumer Finance had complete belongings of 9.661 billion yuan and web belongings of 1.412 billion yuan, a lower of 93 million yuan from the tip of the earlier yr. As of the tip of 2021, Xiaomi Consumer Finance had complete belongings of 6.316 billion yuan and web belongings of 1.505 billion yuan.
It is known that Chongqing Xiaomi Consumer Finance Co., Ltd. is the second licensed shopper finance firm in Chongqing. It was established in May 2020 and is especially engaged within the issuance of private consumption loans with a registered capital of 1.5 billion yuan and a long-term fairness curiosity in Chongqing Rural Commercial Bank. Invested 424 million yuan and held 30% of its shares. In addition, Xiaomi Technology holds 50% of the shares, Kingsoft Holdings holds 10%, Dashun Electric holds 9.8%, and Jinguan Group holds 0.2%. In May of this yr, Xiaomi Consumer Finance was formally permitted to enter the nationwide interbank lending market.
Supporting Xiaomi Group’s “mobile phone + AIoT” dual-engine technique, Xiaomi’s monetary enterprise is especially carried out across the group’s ecological chain.The major enterprise scope contains shopper credit score, third-party cost, Internet wealth administration, Internet insurance coverage, provide chain finance, monetary know-how, digital banking and abroad sectors.
Previously, Xiaomi Group introduced its second-quarter monetary report that income from the Internet companies phase decreased by 0.9% from RMB 7 billion within the second quarter of 2021 to RMB 6.97 billion within the second quarter of 2022, primarily because of the lower in income from the monetary know-how enterprise. , however was partially offset by greater income from TV value-added companies and gaming enterprise.
Xiaomi Vice President and CFO Lin Shiwei mentioned in final yr’s This fall earnings convention name that Xiaomi Finance has modified its identify to Tianxing Digital and has no plans to separate, however will make changes primarily based on market circumstances. He mentioned on the time that by way of enterprise integration, the principle private shopper mortgage product underneath the previous Tianxing Digital Technology, “Suixingzhuan”, has been operated by Xiaomi Small Loan Company to Chongqing Xiaomi Consumer Finance Company. At current, the “Suixing Borrowing” and Xiaomi’s installment interface each present that the enterprise is supplied by Xiaomi Xiaojin, and the principle physique of the consumer settlement remains to be Tianxing Digital Technology and Xiaomi Small Loan.
In February this yr, it was revealed that Tianxing Digital, a monetary know-how enterprise of Xiaomi, was lowering its enterprise line. Tianxing Digital responded on the time that there was no discount within the Tianxing Digital workforce, and the related enterprise strains have been primarily based on the precept of ‘specializing in the principle enterprise and serving entities’. In precept, the organizational construction was adjusted within the fourth quarter of 2021, and the related enterprise strains have been built-in to kind the Digital Industry Finance Department and the Digital Retail Finance Department.