An 18-year veteran takes over as CEO; Qifu Technology restructures risk control and overseas expansion strategy.

An 18-year veteran takes over as CEO; Qifu Technology restructures risk control and overseas expansion strategy.

On September 21, Qifu Technology announced a management reshuffle: Wu Haisheng, the former chief risk officer, resigned as CEO and director to devote more energy to international business, and Zheng Yan succeeded him as CEO and director.

According to his resume, Zheng Yan has 18 years of experience in consumer finance risk management. He previously worked in the Risk Management Department of China Merchants Bank Credit Card Center, co-founded Samoyed Digital Technology, joined Qifu Technology in 2017, and has served as Chief Risk Officer since 2020.

The announcement stated that the adjustment is linked to long-term strategy and the growth potential of international business, with a focus on the reorganization of management responsibilities.

According to Qifu Technology's unaudited financial report for the second quarter of 2026, its net revenue was RMB 3.567 billion and operating profit was RMB 1.161 billion. Some risk indicators improved, with the first-day delinquency rate decreasing from 5.7% in the first quarter to 5.6%, the 30-day recovery rate increasing from 85.8% in the first quarter to 88.1%, and the delinquency rate of more than 90 days decreasing from 3.50% at the end of the first quarter to 2.83%.

Qifu Technology attributed the changes to improved risk control standards, adjustments to user structure, and optimization of debt collection.

The simultaneous contraction in lending size and improvement in risk indicators reflects that management is rebalancing lending size, loan pricing, and asset quality.

Changes in industry regulations have further increased the weight of risk management and pricing capabilities in loan facilitation businesses.

The new loan facilitation regulations implemented in October 2025 strengthen the independent risk control responsibilities of commercial banks, requiring banks to uniformly manage cooperation platforms, include credit enhancement fees in comprehensive financing costs, and continuously assess the repayment capacity of credit enhancement institutions.

The guidelines for managing financing costs for microloan companies stipulate that the overall financing cost of newly issued loans should be gradually reduced, and in principle, reduced to no more than four times the one-year LPR by the end of 2027 at the latest. Microloan entities under Qifu Technology will also face pricing adjustments as a result.

International business constitutes another thread in this management reshuffle.

Qifu Technology previously mentioned in its periodic reports that it had applied for qualifications and established local teams in some overseas markets. Wu Haisheng's shift to international business further clarified the management responsibilities for overseas expansion.

This leadership change has restructured Qifu Technology's management focus: Zheng Yan will take over overall operations and risk-return management, while Wu Haisheng will concentrate on advancing international business. Asset quality, loan volume, revenue from light-capital businesses, and contributions from overseas operations will be key indicators for observing the effectiveness of this division of labor in the medium to long term.

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