X Financial Announces Leadership Change

Rhea-AI Summary

X Financial (NYSE: XYF) announced that Chief Risk Officer Yufan Jiang will resign effective July 1, 2026, citing personal reasons and no disagreements with company operations, policies, or procedures.

Kan Li, currently President and Director, will serve as Acting Chief Risk Officer from the same date.

Positive

• Clear effective date: leadership transition on July 1, 2026
• Company states resignation not due to disagreements on operations, policies or procedures
• Kan Li previously served as Chief Risk Officer from 2017 to 2023
• Acting CRO also serves as President and Director, suggesting leadership continuity
• Tenured executive: Kan Li has been with the company since 2015

Negative

• Resignation of sitting Chief Risk Officer effective July 1, 2026
• Risk management leadership in acting capacity rather than permanent appointment
• Concentration of roles as President, Director and Acting CRO in one individual

News Market Reaction – XYF

-5.05%

-5.05% News Effect

On the day this news was published, XYF declined 5.05%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SHENZHEN, China, June 17, 2026 /PRNewswire/ -- X Financial (NYSE: XYF) ("X Financial" or the "Company" or "we"), a leading Chinese fintech platform, today announced that Mr. Yufan Jiang resigned from his position as the Chief Risk Officer of the Company, effective from July 1, 2026, due to personal reasons. Mr. Yufan Jiang's resignation was not a result of any disagreement with the Company's operations, policies or procedures. We express our gratitude for his dedicated contributions during his tenure with the Company. We also extend our sincere best wishes to Mr. Yufan Jiang for his future career and personal life.

Effective July 1, 2026, Mr. Kan Li will be appointed as Acting Chief Risk Officer of the Company.  Mr. Kan Li has served as the President and Director of the Company and will continue to hold these positions.

Mr. Kan Li has served as the President of the Company since May 2021, Director since December 2021 and our Chief Risk Officer from November 2017 to November 2023. Mr. Li joined our company in 2015, initially serving as a Department Head overseeing unsecured loan risk from 2015 to 2017.

About X Financial

X Financial (NYSE: XYF) (the "Company") is a leading Chinese fintech platform. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate and originate loans to prime borrowers under a risk assessment and control system.

For more information, please visit http://ir.xiaoyinggroup.com.

Disclaimer

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but are not limited to the following: the Company's goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace's products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law.

X Financial

Mr. Fuya Zheng
Mr. Noah Kauffman
E-mail: ir@xiaoying.com

 

View original content:https://www.prnewswire.com/news-releases/x-financial-announces-leadership-change-302802614.html

SOURCE X Financial

FAQ

Why is X Financial (NYSE: XYF) Chief Risk Officer Yufan Jiang resigning?

According to X Financial, Chief Risk Officer Yufan Jiang will resign effective July 1, 2026, due to personal reasons. The company states his resignation is not related to disagreements with its operations, policies, or procedures, and thanks him for his contributions.

When will the X Financial (XYF) Chief Risk Officer change take effect?

The leadership change at X Financial takes effect on July 1, 2026. According to X Financial, on that date, Chief Risk Officer Yufan Jiang will resign and President and Director Kan Li will assume the role of Acting Chief Risk Officer.

Who is replacing the X Financial (XYF) Chief Risk Officer after July 1, 2026?

According to X Financial, Kan Li will become Acting Chief Risk Officer effective July 1, 2026. He will also continue serving as President and Director, having previously been Chief Risk Officer from November 2017 to November 2023 and joining the company in 2015.

What is Kan Li’s background before becoming Acting Chief Risk Officer at X Financial (XYF)?

According to X Financial, Kan Li has been President since May 2021 and Director since December 2021. He previously served as Chief Risk Officer from 2017 to 2023 and joined the company in 2015 as Department Head overseeing unsecured loan risk.

Does X Financial (XYF) report any disagreement related to Yufan Jiang’s resignation?

X Financial states that Yufan Jiang’s resignation as Chief Risk Officer is not due to any disagreement with its operations, policies, or procedures. According to X Financial, the company expresses gratitude for his service and offers best wishes for his future.

How might the X Financial (XYF) leadership change affect its risk management structure?

According to X Financial, President and Director Kan Li will also serve as Acting Chief Risk Officer. He previously held the CRO role for six years, which may support continuity in risk oversight while the company operates with an acting rather than permanent appointment.