360 Finance to acquire a 30% stake in Kincheng Bank of Tianjin.

360 Finance, a digital consumer finance platform, agreed to acquire a 30% stake in Kincheng Bank of Tianjin, a Chinese bank. Financial terms were not disclosed. "As a long-term and important strategic partner, we are excited to deepen our collaboration with Kincheng Bank. We believe this deal will allow us to generate greater operating synergies and further expand our financial ecosystem. It also showcases our determination to become the most respected fintech company in China in terms of planning for and staying ahead of regulatory compliance," Haisheng Wu, 360 Finance CEO and Director.