Late exclusive 丨 Kuaishou CFO Zhong Yiqi retired, and the original Happy Gathering Era CFO Jin Bing took over

Kuaishou currently has only three executives with CXO titles.

Wen 丨 Shi Xian

Editor 丨Gao Honghao

"LatePost" exclusively learned that Kuaishou (01024. HK) CFO Zhong Yiqi officially announced his retirement today (17th). The new CFO, Jin Bing, joined the company and reported to CEO Cheng Yixiao.

The 55-year-old Zhong Yiqi has worked in Procter & Gamble, Dell, Li Ning Group and Autohome. After joining Kuaishou in 2016, Zhong was mainly responsible for the company's finance, legal affairs, auditing, internal control and capital market activities, and successfully operated the listing of Kuaishou. He is also the only three executives of Kuaishou currently holding the title of "CXO", the other two being CEO Cheng Yixiao and CTO Chen Dingjia.

"He may have been planning for retirement for a long time." A Kuaishou person said that after the company went public, Zhong Yiqi gradually reduced his attention to specific businesses.

Finding a new CFO is not easy, and Kuaishou has spent more than half a year for this. "Kuaishou wants to find someone who understands both capital markets and financial operations and can fully understand and understand Kuaishou's business." A person familiar with the matter said.

Judging from Jin Bing's past experience, he is a candidate who relatively meets this requirement. Prior to joining Job Gang, he was head of Credit Suisse's Asia Pacific Investment Banking and Capital Markets China Technology Industry Group, where he was involved in a number of financing and M&A transactions; from 2017 to early 2021, he was a member of YY. US) CFO, the company incubated YY Live, Bigo Live and Likee and other similar products to Kuaishou.

A person close to Jin Bing described him as understanding business, high emotional intelligence, and able to communicate. It is understood that previously, the level of Kuaishou shareholders has also interviewed Jin Bing.

Jin Bing once summed up to the media how to be a good CFO: let the financial things go and let professional people do it. What cfos should consider is how to turn money into weapons, use money to fight wars, use money to do good investment acquisitions, and then bring 10 times or even 20 times the amplification effect to the company; on the construction of the team, Jin Bing has constantly emphasized that team members should use high dimensions to fight low dimensions, and think deeply about the core logic and essence behind things. "A manager can do the work of a vice president, and a vice president can do the work of a CFO, and he can do more with less."

As of press time, Kuaishou's stock price is 87 Hong Kong dollars, with a market value of about 370.2 billion Hong Kong dollars, compared with the peak of Kuaishou's just listed listing, the stock price has fallen by nearly 80%.