Jiayin Group Inc. Announces Changes in Management

SHANGHAI, China, Jan. 08, 2021 (GLOBE NEWSWIRE) -- Jiayin Group Inc. (“Jiayin” or the “Company”) (NASDAQ: JFIN), a leading fintech platform in China, today announced that Mr. Chunlin Fan tendered his resignation from the position as the Company’s Chief Financial Officer due to personal reasons, effective from January 8, 2021. Mr. Dinggui Yan, the Founder, Director and Chief Executive Officer, expressed appreciation for Mr. Fan’s contributions to the development of the Company on behalf of the board of directors and management team of the Company.

Ms. Bei Bai, the current Financial Controller of the Company, and Ms. Jin Chen, the current Investment and Finance Director of the Company, have been appointed as the Co-Chief Financial Officers of the Company, effective from January 8, 2021.

Ms. Bai, the current Financial Controller, joined the Company as the Director of Investor Relations in August 2018. Prior to joining the Company, Ms. Bai held various positions at PricewaterhouseCoopers Zhong Tian LLP, Shanghai Branch from 2006 to 2018, including manager and senior manager. Ms. Bai received her bachelor’s degree in economics from Shanghai University of Finance and Economics in 2006. Ms. Bai is also a member of Chinese Institute of Certified Public Accountants and American Institute of Certified Public Accountants.

Ms. Chen joined the Company as the Investment and Finance Director in September 2019. Prior to joining the Company, Ms. Chen served as a coverage banker of TMT sector at Citibank (China) Co., Ltd from 2011 to 2017, leading various capital market deals and launching global finance solutions for Chinese tech giants. Ms. Chen received her MBA from the School of Management, Yale University in 2019, a master’s degree in industrial finance from Zhejiang University in 2011 and a bachelor’s degree in mathematical finance from Zhejiang University in 2009.

The Company noted that there were no disagreements between Mr. Fan and the Company and that his departure is not related to the Company’s operations, policies or practices or any issues regarding the Company's accounting policies and practices.

About Jiayin Group Inc.

Jiayin Group Inc. is a leading fintech platform in China committed to facilitating effective, transparent, secure and fast connections between investors and borrowers, whose needs are underserved by traditional financial institutions. The origin of the business of the Company can be traced back to 2011. The Company operates a highly secure and open platform with a comprehensive risk management system and a proprietary and effective risk assessment model which employs advanced big data analytics and sophisticated algorithms to accurately assess the risk profiles of potential borrowers.