Beijing police said they have opened a criminal investigation into companies tied to Yixin and taken criminal coercive measures against several core suspects, including actual controller Tang Ning and his spouse Zhao Mei. The Chaoyang branch of the Beijing Municipal Public Security Bureau said investors can file reports through online, mail and in-person channels, and warned them to use official routes to defend their rights and avoid follow-on fraud. Public information cited in the report shows Tang founded Yixin in 2006, while its platform Yirendai listed on the New York Stock Exchange in 2015 and was known as China’s first publicly traded P2P lender. In May 2026, Yixin said it would suspend repayments on all of its credit products and begin what it called an orderly wind-down. Caixin data put the unpaid balance at about 30 billion yuan, affecting nearly 100,000 high-net-worth clients. On Oct. 11, 2026, Yixin said in an apology letter that it was highly likely insolvent and that its products were effectively in default. Its affiliated listed company Yiren Digital has fallen 78% this year and faces delisting risk.
Beijing police have opened a criminal investigation into companies tied to Yixin, according to a notice from the Chaoyang branch of the Beijing Municipal Public Security Bureau. Several core suspects, including actual controller Tang Ning and his spouse Zhao Mei, have been placed under criminal coercive measures.
Police said they have opened online, mail and in-person reporting channels at the same time. They also told investors to pursue claims through official channels and stay alert to secondary fraud. Asset recovery and loss-reduction work is now fully under way.
Repayments on all credit products were halted in May
Public records show Tang founded Yixin in 2006. Its platform Yirendai listed on the New York Stock Exchange in 2015 and became known as 「China’s first publicly traded P2P lender」.
In May 2026, Yixin announced that it would suspend repayments on all of its credit products and start what it described as an orderly wind-down. Caixin data showed about 30 billion yuan remained unpaid, affecting nearly 100,000 high-net-worth clients.
Apology letter said the company was likely insolvent
On Oct. 11, 2026, Yixin published an apology letter saying the company was highly likely insolvent and that the products were effectively in default. Its affiliated listed company Yiren Digital has dropped 78% so far this year and faces delisting risk.
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