Another consumer finance company has undergone a significant ownership restructuring. On February 14, the Xiamen Financial Regulatory Bureau announced it had approved the equity change for Xiamen JME Consumer Finance Co., Ltd. (hereinafter referred to as "JME Consumer Finance"). Gome Group will transfer its 16% and 17% stakes in JME Consumer Finance to China Trust Commercial Bank and Jinyuan Financial Holding, respectively. Following this change, China Trust Commercial Bank and Jinyuan Financial Holding will each hold a 50% stake in JME Consumer Finance, while Gome Holding Group will no longer hold any shares. The company has already completed the relevant industrial and commercial registration updates.
After being a shareholder for over seven years, Gome's exit marks a significant shift. Established under China's policy of relaxing financial market access, JME Consumer Finance received approval for preparation from the former China Banking and Insurance Regulatory Commission (CBIRC) in April 2018 and officially commenced operations in October of the same year. It was the first consumer finance company approved after the merger of the former regulatory bodies, the 23rd such company nationwide to open, and notably the first cross-strait joint venture in the consumer finance sector.
Initially, JME Consumer Finance had a registered capital of 500 million yuan, founded by three major shareholders: China Trust Commercial Bank, Jinyuan Financial Holding, and Gome Group, holding 34%, 33%, and 33% stakes, respectively. China Trust Commercial Bank is a private bank established in Taiwan, China, in 1966 by Koo Chen-fu; Jinyuan Financial Holding is a state-owned enterprise under Xiamen Jinyuan Group; and Gome Group is a large conglomerate founded by Huang Guangyu, with its flagship Gome Retail Holdings listed in Hong Kong in 2004.
According to the latest information from the Xiamen Financial Regulatory Bureau, the authority has approved China Trust Commercial Bank's acquisition of a 16% stake and Jinyuan Financial Holding's acquisition of a 17% stake from Gome Group. Post-transaction, China Trust Commercial Bank and Jinyuan Financial Holding will each possess a 50% stake, resulting in Gome Group's complete exit from the company.
The regulatory bureau emphasized that JME Consumer Finance should strengthen equity management, further optimize its ownership structure, strictly control related-party transactions, improve corporate governance and internal control mechanisms, and prevent and mitigate risks.
Financially, JME Consumer Finance reported a net profit of approximately 20 million yuan in 2024, a significant decline of 71.4% year-on-year. The situation worsened in the first half of 2025, with the company shifting to a net loss of about 10 million yuan, as disclosed by China Trust Commercial Bank.
The ownership restructuring is driven by dual factors: the company's operational needs and regulatory requirements. In March 2024, the revised "Measures for the Administration of Consumer Finance Companies" was officially released, raising the minimum registered capital threshold from 300 million yuan to 1 billion yuan and increasing the minimum shareholding ratio for primary investors from 30% to 50%. Prior to the recent changes, JME Consumer Finance's registered capital and primary investor shareholding ratios did not meet the new standards. Even after the equity adjustment, the company's registered capital remains below the required level.
Notably, in June 2022, the former Xiamen CBIRC approved a plan for JME Consumer Finance to increase its registered capital from 500 million yuan to 1 billion yuan through a cash injection by existing shareholders in proportion to their holdings, which would have maintained the ownership ratios. However, the capital increase was not completed as planned.
Statistics indicate that, currently, only a few consumer finance companies have yet to meet the 1 billion yuan registered capital requirement, including JinShang Consumer Finance (500 million yuan), MengShang Consumer Finance (500 million yuan), JME Consumer Finance (500 million yuan), and ShengYin Consumer Finance (300 million yuan).
Apart from the general administrative measures, in December 2024, the National Financial Regulatory Administration issued the "Measures for the Regulatory Rating of Consumer Finance Companies," which assigns a 15% weight to capital management—second only to risk management's 25%. The rating outcomes influence the scope of business activities these companies can undertake, further incentivizing them to bolster their capital base to comply with regulatory standards.
The trend of capital increases is not isolated to JME Consumer Finance. Driven by regulatory mandates and their own development strategies, several consumer finance companies have pursued capital expansions and ownership optimizations over the past two years. Since the beginning of 2025, a total of eight consumer finance companies have completed capital increases.
In January 2025, Vipshop Fintech Consumer Finance doubled its registered capital to 1 billion yuan. Post-increase, Vipshop (China) saw its stake rise from 49.9% to 50%, while Xtep (China) and Fubon Bank (China) each hold 25%.
In March 2025, Ningbo Bank Consumer Finance increased its registered capital from 2.911 billion yuan to 3.6 billion yuan. After the injection, Bank of Ningbo's shareholding increased from 92.79% to 94.17%.
Also in March 2025, CITIC Consumer Finance raised its registered capital from 700 million yuan to 1 billion yuan, with CITIC Financial Holdings and Kingdee Software (China) maintaining their stakes at 70% and 30%, respectively.
In April 2025, Sichuan Jincheng Consumer Finance boosted its registered capital from 420 million yuan to 1 billion yuan. Chengdu Bank's shareholding subsequently increased from 38.86% to 39.99%.
In August 2025 and January 2026, Hubei Consumer Finance completed two rounds of capital increases, raising its registered capital from 1.0058 billion yuan to 2.3089 billion yuan. Hubei Bank and Hubei Provincial SME Financial Service Co., Ltd. emerged as the top two shareholders, holding 49.55% and 20.79%, respectively.
In October 2025, Hebei Happiness Consumer Finance increased its registered capital from 637 million yuan to 1 billion yuan. Prior to the increase, Zhangjiakou Bank, UCAR Inc., and Lanjing Holdings held 47.1%, 39.25%, and 13.65% stakes, respectively.
In December 2025, Nanyin Faba Consumer Finance raised its registered capital from 5.215 billion yuan to 6 billion yuan. Nanjing Bank, BNP Paribas Group, and the International Finance Corporation subscribed to the new capital in proportion to their existing shares, leaving ownership ratios unchanged.
In January 2026, BOB-CBFC Consumer Finance increased its registered capital from 850 million yuan to 1 billion yuan. Following this, Bank of Beijing held a 35.29% stake, while Santander Consumer Finance and Lisi Group held 20% and 15%, respectively.
Additionally, in August 2025, Bank of Jiangsu reviewed and passed a proposal to increase capital in Suning Bank Kaiji Consumer Finance. In December, Bank of Changsha disclosed plans to raise the registered capital of Changyin Wuba Consumer Finance from 1.124 billion yuan to 1.945 billion yuan and acquire additional company shares. Upon completion, Bank of Changsha's stake is expected to increase from 56.66% to over 80%.
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