In the first half of 2020, 51 credit card followed the guidance of regulatory agencies to carry out the work of clearing its P2P business. According to the financial report, by the end of 2019, the P2P business balance of 51 credit card was 5.63 billion yuan. At present, 51 credit card has completed P2P clearance and completely quit the industry.
The credit card also announced that about 167 million new shares would be issued under three subscription agreements on 31 August 2020 at a price of HK $0.6 per share.
Source: Wang Fengzhi, editor in charge of Netease science and Technology Report_ NT2541