Since the beginning of the year, regulatory authorities in Jiangsu, Qingdao, Xiamen, and Beijing under the National Financial Regulatory Administration have publicly disclosed a series of approvals involving senior executive appointments and registered capital adjustments for multiple consumer finance companies.

According to the approval notices, new executives have taken office, including the deputy general manager of JD Consumer Finance and the assistant general manager of Nanyin Faba Consumer Finance, signaling fresh leadership and direction.

Additionally, changes in registered capital for several companies have drawn significant attention. Specifically, Suyin Kaiji Consumer Finance increased its capital by 530 million yuan, raising its registered capital from 4.2 billion yuan to 4.73 billion yuan. Its two largest shareholders, Jiangsu Bank and Kaiji Commercial Bank, hold stakes of 61.32% and 33.41%, respectively.

Haier Consumer Finance received approval for a capital increase of 1.028 billion yuan, a rise of nearly 50%. The original major shareholder, Haier Group, contributed additional funds, while new shareholders—Qingdao Guoxin Chanrong Holding (Group) Co., Ltd. and Qingdao Lincong Trading Co., Ltd.—were introduced. After the capital increase, Haier Consumer Finance’s registered capital will reach 3.118 billion yuan. Notably, this marks the fourth capital increase for Haier Consumer Finance since its establishment in 2014, following previous increases in 2018 (500 million yuan), 2022 (500 million yuan), and 2024 (590 million yuan).

Statistics reveal that the consumer finance industry has experienced a wave of capital increases in 2026. Besides Suyin Kaiji Consumer Finance and Haier Consumer Finance, Hubei Consumer Finance, Beiyin Consumer Finance, and Jinmeixin Consumer Finance have also completed capital injections.

Hubei Consumer Finance raised its registered capital from 1.359 billion yuan to 2.309 billion yuan. Its ownership structure was adjusted accordingly, with its two largest shareholders, Hubei Bank and Hubei Provincial SME Financial Services Center Co., Ltd., holding 49.55% and 20.79% stakes, respectively.

Beiyin Consumer Finance increased its registered capital from 850 million yuan to 1 billion yuan. Beijing Bank holds a 35.29% stake, while Santander Consumer Finance Co., Ltd. holds 20%.

Jinmeixin Consumer Finance doubled its registered capital from 500 million yuan to 1 billion yuan, with Xiamen Jinyuan Financial Holdings and China Trust Commercial Bank each holding 50% stakes.

The acceleration in capital increases by consumer finance companies is directly linked to the implementation of the "Measures for the Administration of Consumer Finance Companies" on April 18, 2024, which raised the minimum registered capital requirement to 1 billion yuan and adjusted the conditions and shareholding ratios for major contributors.

In this round of capital increases, Beiyin Consumer Finance and Jinmeixin Consumer Finance have met the minimum threshold, while Haier Consumer Finance and Hubei Consumer Finance have far exceeded the requirement.

This wave of capital increases reflects a fundamental shift in the development logic of the consumer finance industry. Previously focused on scale expansion, the industry is now driven by stricter regulations, consumer upgrading, and technological advancements, shifting its focus toward capital efficiency, risk management, and integration with real-world scenarios.

Among the 31 licensed consumer finance companies, only three have yet to meet the 1 billion yuan registered capital requirement: Mengshang Consumer Finance, Jinshang Consumer Finance, and Shengyin Consumer Finance. Their current registered capital stands at 500 million yuan, 500 million yuan, and 300 million yuan, respectively, all significantly below the regulatory minimum.

Analysts suggest that, in line with regulatory compliance requirements, the remaining three institutions will face increasing pressure to bolster their capital. The overall strengthening of capital across the industry will also drive consumer finance companies to transition from extensive expansion to refined operations. By reinforcing risk management and control, they can better serve inclusive finance, support domestic demand expansion and consumer upgrading, and lay a solid foundation for long-term, high-quality growth.