Qifu Technology CEO Wu Haisheng resigns; Zheng Yan appointed as successor effective Sept 21, 2026
On September 21, Qifu Technology announced CEO Wu Haisheng's resignation to focus on international business expansion. The board appointed Zheng Yan, previously Vice President and Chief Risk Officer, as the new CEO and Director, effective immediately. Zheng brings 18 years of consumer finance risk management experience, having co-founded Shenzhen Samoyed Digital Technology and worked at China Merchants Bank. The change follows Qifu's unaudited Q2 2026 results showing a 31.6% year-on-year revenue decline to 3.567 billion yuan and a 76.59% drop in net profit.
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Cross-source coverage
Common ground
- Qifu Technology's domestic business is under serious pressure from new lending rules and cost caps, with revenue and profits dropping sharply.
- The CEO swap splits responsibilities: Zheng Yan focuses on domestic risk management, while Wu Haisheng leads international expansion.
- International revenue is currently small at about 12%, but its growth rate matters more than the absolute number.
- Both sides agree that Western media will oversimplify the leadership change as a crisis, missing the strategic reasoning.
- Partnerships and B2B risk management models in Southeast Asia and Africa are key to Qifu's international strategy.
Points of contention
- Eastern Agent sees the international pivot as a visionary multipolar strategy, while Neutral Agent views it as a necessary survival move due to domestic margin compression.
- Eastern Agent argues the profit drop is strategic recalibration to comply with regulations early, while Neutral Agent calls it a 77% profit collapse that signals real trouble.
- Neutral Agent says Qifu's Chinese consumer data is useless abroad, creating a structural disadvantage, but Eastern Agent believes CEO-level focus can solve this through local partnerships.
- Eastern Agent compares Qifu's overseas growth to Huawei's trajectory, but Neutral Agent says that analogy fails because Qifu sells consumer lending, not essential infrastructure.
- Neutral Agent thinks the year-early CEO announcement is a probation period, while Eastern Agent says it signals board confidence and disciplined planning.
Blind spots
- Neither side fully addresses how Qifu will overcome the data disadvantage in new markets without a proven track record of local partnerships.
- The debate overlooks the possibility that international regulatory hurdles in India and Indonesia could be just as tight as China's, limiting growth.
- Both agents ignore the risk that if international revenue grows slowly, Qifu might face a fire sale or acquisition within two years.
- The discussion misses the competitive threat from local fintech players like Gojek and Paytm, which already have strong market positions and data.
WorldAttention’s read
Qifu Technology's CEO transition is a calculated response to domestic regulatory pressure, not a crisis or a grand geopolitical play. The company is pivoting to international markets out of necessity, but faces real challenges: its Chinese consumer data doesn't transfer abroad, and target markets like Indonesia and India are already crowded with local competitors. The international revenue share is small but growing, and the success of this pivot hinges on whether Wu Haisheng can build local partnerships and acquire data fast enough to offset domestic margin compression. If international revenue doesn't reach 25-30% by 2027, when new cost caps fully hit, this move may only slow the decline rather than reverse it. Watch partnership announcements and international revenue growth over the next four quarters for the real story.
Reporting timeline
Qifu Technology CEO Wu Haisheng Resigns; Zheng Yan Appointed as New CEO and Director
Qifu Technology Inc. announced management and board changes, with CEO and Director Wu Haisheng resigning to focus on international business expansion. Zheng Yan, previously Vice President since February 2017 and Chief Risk Officer since July 2020, will succeed Wu as CEO and Director effective September 21, 2026. Zheng brings 18 years of consumer finance risk management experience, having co-founded Shenzhen Samoyed Digital Technology and worked at China Merchants Bank's risk management department. The announcement follows Qifu Technology's disclosure of unaudited financial results for the second quarter and first half of 2026, showing a 31.6% year-on-year revenue decline to 3.567 billion yuan and a 76.59% drop in net profit attributable to common shareholders to 406 million yuan. The core credit-driven services segment saw all sub-business revenues decline, with heavy capital loan facilitation fees falling 83.8% year-on-year due to active scale reduction, and financing income dropping 16.6% due to lower loan pricing.
Read source18-Year Veteran Takes CEO Role at Qifu Technology, Reshapes Risk and Overseas Duties
Qifu Technology, a Chinese fintech firm, announced a management reshuffle on September 21. Former Chief Risk Officer Wu Haisheng resigned as CEO and director to focus on international business, succeeded by Zheng Yan, an 18-year consumer finance risk management veteran who joined the company in 2017 and served as CRO since 2020. The company stated the adjustment aligns with long-term strategy and international growth potential, reallocating management responsibilities. According to Qifu's unaudited Q2 2026 financial report, net revenue was 3.567 billion yuan with operating profit of 1.161 billion yuan. Risk metrics improved: first-day overdue rate fell from 5.7% to 5.6%, 30-day recovery rate rose from 85.8% to 88.1%, and 90+ day overdue rate dropped from 3.50% to 2.83%. The company attributed changes to stricter risk standards, user structure adjustments, and optimized collections. The article notes that regulatory changes, including a lending rule effective October 2025 strengthening banks' independent risk control and a directive requiring small-loan companies to cap comprehensive financing costs at four times the one-year LPR by end-2027, are increasing the importance of risk management and pricing in the loan facilitation business. The CEO change clarifies Zheng Yan's oversight of overall operations and risk-return management, while Wu Haisheng drives international expansion. Key performance indicators for the new structure include asset quality, loan volume, light-capital business income, and overseas contributions.
Read sourceQifu Technology Announces CEO Change: Wu Haisheng Steps Down to Focus on Overseas, Zheng Yan Takes Over
On September 21, Qifu Technology (QFIN) announced a change in senior management and board composition. CEO Wu Haisheng will step down from his role to concentrate on expanding the company's international business, citing the development and growth potential of overseas operations and the company's long-term strategic plan. The board has approved the appointment of Zheng Yan to succeed Wu as CEO, effective September 21, 2026. Board Chairman Zhao Fan expressed gratitude for Wu's contributions since the company's founding and noted that Wu will continue to serve the company by focusing on overseas business expansion, working closely with Zheng to ensure a smooth transition. Zhao Fan welcomed Zheng Yan, who brings 18 years of experience in consumer finance risk management, expressing confidence that Zheng will lead the company into a new phase of development.
Read sourceShow 4 older updatesHide older updates
Qifu Technology appoints Zheng Yan as CEO as Wu Haisheng steps down to focus on overseas business
On September 21, Qifu Technology announced a change in its senior management and board composition. CEO Wu Haisheng will step down from the CEO role to focus on expanding the company's international business, citing the development momentum and growth potential of the company's overseas operations as part of its long-term strategic plan. The board has approved the appointment of Zheng Yan as the new CEO, effective September 21, 2026. Zheng Yan, who has served as Vice President since February 2017 and Chief Risk Officer (CRO) since July 2020, holds a bachelor's degree in economics from Shanghai University of Finance and Economics and an EMBA from Fudan University. He has 18 years of experience in consumer finance risk management. Prior to joining Qifu Technology, Zheng co-founded Shenzhen Samoyed Digital Technology Co., Ltd. in May 2015, and previously worked at China Merchants Bank's headquarters risk management department and its credit card center. Board Chairman Zhao Fan praised Wu Haisheng's contributions and noted that Wu will continue to serve the company by focusing on overseas business expansion, working closely with Zheng Yan to ensure a smooth transition.
Read sourceWu Haisheng resigns as Qifu Technology CEO to focus on international business; Zheng Yan appointed successor
On September 21, Qifu Technology (QFIN), a fintech listed company, announced senior management changes. CEO and Director Haisheng Wu resigned to dedicate more time to the company's international business, citing growth potential and long-term strategic needs. He also stepped down from the Board's Compensation Committee. The Board approved Yan Zheng as the new CEO and Director, effective September 21, 2026. Zheng, previously Vice President since February 2017 and Chief Risk Officer since July 2020, brings 18 years of consumer finance risk management experience. His background includes co-founding Shenzhen Samoyed Digital Technology Co., Ltd. in May 2015, and roles in the Risk Management Department at China Merchants Bank's headquarters and its Credit Card Center from 2008 to 2014.
Read sourceQifu Technology CEO Wu Haisheng Resigns to Focus on Overseas Business; Risk Chief Zheng Yan Takes Over
On September 21, Qifu Technology announced that CEO and director Wu Haisheng has resigned from his positions to dedicate more time to the company's international business development, citing the growth potential of overseas operations. The board approved the appointment of Zheng Yan, the company's chief risk officer since July 2020 and a vice president since February 2017, as the new CEO and director. Zheng Yan is a veteran with 18 years of experience in consumer finance risk management, having previously worked at China Merchants Bank for several years, including roles in credit card risk management and participation in the establishment of Zhaolian Consumer Finance. He later co-founded Shenzhen Samoyed Digital Technology in 2015. Board Chairman Zhao Fan expressed confidence that Wu Haisheng's industry experience will continue to contribute to the company's long-term development, and that under Zheng Yan's leadership, the company will enter a new phase of business growth. The transition is expected to be smooth with close collaboration between the two executives.
Read sourceWu Haisheng Resigns as Qifu Technology CEO; Zheng Yan Appointed Successor
On September 21, Qifu Technology, a fintech listed company, announced that Haisheng Wu has resigned as Chief Executive Officer and Director to focus more on the company's international business development. He also stepped down from the Board's Compensation Committee. The Board approved the appointment of Yan Zheng as the new CEO and Director, effective September 21, 2026. Zheng previously served as Vice President since February 2017 and Chief Risk Officer since July 2020. He has 18 years of experience in consumer finance risk management, having co-founded Shenzhen Samoyed Digital Technology Co., Ltd. in May 2015, and previously worked in the Risk Management Department at China Merchants Bank headquarters and its Credit Card Center from 2008 to 2015.