On August 10, a regulatory update from the Financial Frontline revealed that the Shanxi Bureau of the National Financial Regulatory Administration has approved a capital increase and shareholding structure revision for Jinshang Consumer Finance Co., Ltd. The regulator has given the green light for JINSHANG BANK to inject an additional 500 million yuan into the consumer finance unit.

Following this capital injection, the registered capital of Jinshang Consumer Finance will double from 500 million yuan to 1 billion yuan. Upon completion of the capital change, the equity structure will be adjusted as follows: JINSHANG BANK will hold 700 million shares, representing a 70% stake; Shanghai Rongda Investment Management Co., Ltd. will hold 125 million shares, accounting for a 12.5% stake; Tianjin Yuxin Yicheng Technology Co., Ltd. will hold 100 million shares, representing a 10% stake; Shanxi Huayu Commercial Development Co., Ltd. will hold 40 million shares, accounting for a 4% stake; and Shanxi Meetall Chain Supermarket Co., Ltd. will hold 35 million shares, representing a 3.5% stake.