The Paper Journalist Ye Yinghe

On July 8, it was reported that a product of 360 Digital (formerly 360 Finance, NASDAQ:QFIN) was a product 360 IOU APP is currently being removed.

The Paper confirmed the news from a person close to 360 number subjects. He also said that the reason for the delisting was not what the media claimed to be related to the 13 mutual gold platforms discussed by the central bank and other departments on April 29, but was related to the illegal and illegal use of personal information reported by the Office of the Cyberspace Administration of China on May 10.

According to the news from the WeChat public account”Cyber ​​China” on May 10, the Cyberspace Administration of China issued the”Notice on the Collection and Use of Personal Information in Violations and Regulations of 84 Apps including Tencent Mobile Manager”. Among them, the report stated that the main problems with 360 IOUs are:violating the principle of necessity and the”Regulations on the Scope of Necessary Personal Information for Common Types of Mobile Internet Applications”, collecting personal information irrelevant to the service, collecting and using personal information without the user’s consent, etc.

The above-mentioned person close to 360 Mathematics revealed that the corrected version submitted by 360 Mathematics was still negligent, so it was first removed from the shelf. The new version has been passed but it will take about a month to go online again.

According to Xinhua News Agency, on April 29, the People’s Bank of China and other financial management Departments jointly conduct supervisory interviews with major online platform companies engaged in financial business. Tencent, Duxiaoman Finance, JD Finance, ByteDance, Meituan Finance, Didi Finance, Lufax, Tianxing Digital, 360 Digital, Sina Finance, Suning Finance, Gome Finance, Ctrip Finance and other 13 online platform companies’ actual controllers or representatives participated in the interview.

Xinhua News Agency reported that during the interview, the financial management department put forward rectification requirements from payment business, personal credit investigation business, capital market business, financial consumer rights protection, etc., and asked the interviewed company to compare it. Self-examination was carried out in a comprehensive and in-depth manner, a rectification plan was formulated, and the time point for completion was clearly defined. The financial management department will carry out inspections in due course to verify progress. The 13 companies participating in the interview stated that they will attach great importance to self-inspection and rectification work, formulate rectification plans in full compliance with financial regulatory requirements, and earnestly implement them in place. While ensuring the compliance and continuity of financial business, we will continue to serve the real economy and the people’s origin.

360 Data Science, formerly known as 360 Finance, was established in July 2016 and was incubated in the 360 ​​Group, the largest Internet security company in China. Its products include 360 ​​IOUs, 360 Small and Micro loans, and 360 installments. On December 14, 2018, 360 Digital was successfully listed on NASDAQ in the United States, with an issue price of US$16.5.

According to the quarterly report data, the first quarter operating income of 360 Data Science in the first quarter is 35.9 a year-on-year increase of 13.1%, net profit was 1.447 billion yuan, a year-on-year increase of 635.4%. Facilitated loans trading volume totaled 74.149 billion yuan, a year-on-year increase of 40.4%, of which the light capital model was 37.245 billion yuan. An increase of 211.9%, accounting for half of the total.

Editor in charge:Zheng Jingxin

Proofreading:Zhang Liangliang