On September 14, according to sources familiar with the matter, Ping An Consumer Finance Co., Ltd. has officially announced a significant leadership transition. The company's Chairman, Chen Dongqi, has formally submitted his resignation due to approaching the statutory retirement age. Per the announcement, Chen will continue to fulfill his duties as Chairman until the regulatory authorities approve the appointment of his successor.

Publicly available records indicate that Chen joined the Ping An Group in 1996, marking the beginning of a distinguished career spanning over two decades. During his tenure, he held multiple senior leadership positions, including General Manager of the Jilin Branch of Ping An Property & Casualty Insurance Company of China, Ltd., Assistant General Manager of the Credit Guarantee Business Unit, General Manager of Ping An Insurance Agency Co., Ltd., Assistant General Manager and Chief Sales Officer of Ping An Puhui, and subsequently General Manager of Ping An Puhui.

In March 2020, when Ping An Consumer Finance received regulatory approval to commence operations, Chen was appointed as the founding Chairman of the company, a position he has held since its inception. His leadership has been instrumental in guiding the institution through its formative years.

As the transition unfolds, industry observers will be keenly watching the timeline for appointing a successor. The company stated that the process will adhere to all regulatory requirements and that Chen's continued service until the new appointment ensures operational continuity. This leadership change comes at a time when China's consumer finance sector faces evolving market conditions and regulatory dynamics, making the choice of Chen's successor a matter of considerable interest to stakeholders and market participants alike.