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Chongqing Xiaomi Consumer Finance Co LTD has been fined 500,000 yuan for misappropriating consumer loan funds

via:IT之家     time:2022/9/19 20:00:50     readed:143

Chongqing Regulatory Bureau of China Banking and Insurance Regulatory Commission (CBC) announced the latest batch of administrative penalty information disclosure form today. Among them, Chongqing Xiaomi Consumer Finance Co LTD was fined 500,000 yuan.

Public information shows that the letter number of the administrative punishment decision is No. 40 [2022].Due to inadequate post-loan management, consumer loan funds were misappropriatedOn September 8, the Chongqing Regulatory Bureau of the China Banking and Insurance Regulatory Commission fined Chongqing Xiaomi Consumer Finance Co LTD 500,000 yuan and issued a warning to Ai Hao. Among them, the legal representative of Chongqing Millet Consumer Finance Co., Ltd. is Hong Feng.

According to Sina Technology on September 9, Xiaomi announced in an internal email that Lin Shiwei, vice president and CFO of the group, has been appointed as the chairman of the group, reporting to Lei Jun, CEO of the group. Hong Feng, Xiaomi's co-founder and senior vice president, was previously named chairman of the company, and the appointment also means that Mr. Hong is no longer in charge of Xiaomi's finance business, which he founded.

As previously reported by IT House. On Aug 30, Chongqing Rural Commercial Bank released its 2022 semi-annual report to reveal the performance of its affiliate Chongqing Xiaomi Consumer Finance Co., LTD. In the first half of this year, Xiaomi's net loss in consumer finance was 93.196 million yuan, a 43 percent increase from the same period in 2021, compared with its full-year net profit of 3.68 million yuan last year, the semi-annual report showed.

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