Bairong Cloud's profits plummet 72% in 2025, recently launching car mortgage loans to seek growth | Big Fish Finance

Ask AI · How do the new regulations for loan facilitation impact BaiRong Cloud’s core business revenue?

Amid the wave of deep adjustments in the loan facilitation industry, BaiRong Cloud’s performance pain and business breakthroughs are unfolding in parallel. On March 26, BaiRong Cloud released its 2025 financial report. The results show that the company’s profit within the year fell 72% year over year. Its main revenue source, BaaS financial industry cloud revenue, declined under the impact of the new regulations. In addition, the lead-generation footprint of its core loan-facilitation platform, Rongshu Loan, quietly shrank as well. To address its performance dilemma, Rongshu Loan recently launched an auto-title loan business and tested a installment-mall business, seeking new growth points.

Profit Within the Year Drops Sharply

On March 26, BaiRong Cloud released its 2025 performance update.

The financial report shows that in 2025, BaiRong Cloud achieved revenue of 2.92 billion yuan, down 0.31% year over year; it achieved profit within the year of 0.74 billion yuan, down sharply 72% year over year.

Previously, BaaS financial industry cloud business was BaiRong Cloud’s main revenue source. In 2025, the company generated 1.371 billion yuan in revenue from this segment, down 3% year over year.

The financial report explains that this was mainly due to the new regulations for loan facilitation, which caused some cooperating financial industry customers to make cautious adjustments to their product strategies and take products down, thereby having a significant impact on the company’s BaaS financial industry cloud revenue.

At the end of 2025, BaaS financial industry cloud service revenue accounted for 46.94% of total revenue. From 2022 to the first half of 2025, the revenue share of this segment was 36.32%, 44.2%, 48.17%, and 53.17%, respectively. The BaaS financial cloud business mainly includes related businesses of Rongshu Loan, the lending platform, and Qianxiaole.

Currently, Rongshu Loan’s credit loan “Youxuan Dai” mainly serves as lead generation for other products, and it also buys traffic on other traffic platforms.

From the “Loan Service Instructions” inside the App, it can be seen that the institutions Rongshu Loan currently mainly generates leads for include: Jiezhaibei (Wenzhou Yizhao Small Loan), Fiqianbao (Fulong Small Loan), Kaitai Bank, Yuan Xiaohua (Dalian Jinzhou Yuangyuan Small Loan), Wei Wallet (Xiaowei Technology Small Loan Company), Xin Yongqian (Guangzhou Jinno Small Loan), Shan Jie Hua (Yingtan Huixin Small Loan), etc.

The reporter noted that this lead-generation list has been reduced. Previously, it also included licensed financial institutions such as Suzher Bank and Jinshang Consumer Finance. In addition, Rongshu Loan also provides insurance services. On the App home page, and when users submit materials for review, there is a section with “1 yuan for the first month, unlock exclusive benefits.” This section is “Hui Xiang e Life — Youxuan One Million Medical,” provided by Zhonghui Property Insurance, with 1 yuan in the first month and starting from 61.83 yuan in the second month. On the insurance page, the next-year auto-renewal service is selected by default.

Public information shows that BaiRong Cloud holds a network small loan license—Guangzhou Shurong Internet Small Loan Co., Ltd., established in 2017, with registered capital of 200 million yuan.

Recently Launched an Auto-Title Loan Product

Recently, Rongshu Loan officially launched an auto-title loan business within the App, promoting the slogan “You can borrow if you have a car.” The maximum loan amount is 1 million yuan, with a maximum term of 5 years (60 installments). The annualized interest rate range is 3.58%~24%.

From the agreement attachments, it can be seen that the auto-title loan business cooperation service providers of Rongshu Loan include: Huarui Bank, Lianzhong Youche, Deyi Car Owner Rong, Chejixing, Xinsheng Auto-Title Loan, Jianyín Auto-Title Loan, 360 Qiyi Rong Car Owner Loan, Paipaidai Car Owner Loan, Yixin Car Owner Loan, Hengche Rong, Huarui Auto-Title Loan, etc.

Since last year, the auto-title loan market has been booming. Internet giants, licensed financial institutions, and automotive vertical platforms have all stepped in with plans.

It is understood that on one hand, auto-title loan assets have more controllable quality. Vehicles, as collateral that is easy to liquidate and appraise, can effectively reduce default risk compared with credit loans. On the other hand, as the auto-title loan process continues to improve, steps such as vehicle valuation and collateral registration can be completed online, greatly improving application efficiency. Add to that the impact of the new regulations on loan facilitation platforms, auto-title loans have become an important direction for loan facilitation platforms to expand compliant business and seek new growth points.

It is worth noting that in January this year, Rongshu Loan also tested an installment-mall business, but currently there is no entry for this business within the App. The reporter previously asked customer service, and customer service said that the mall is currently in a phase of gradually opening up, and the specific entry will be subject to what appears in the user’s App.

The installment-mall business has long been controversial. Especially in the period leading up to 315 this year, issues such as “high markup,” “month-based mall,” “virtual cards,” and “cash-out via recycling” have attracted attention from major media outlets. At this time, it is not to rush into large-scale listing, nor is it necessarily the wise choice.

With the launch of the auto-title loan product, Rongshu Loan has formed a product lead-generation matrix of “small-ticket credit loans + large-ticket auto-title loans.” Industry insiders said that Rongshu Loan’s attempt to add an installment mall and launch auto-title loans, in essence, is a breakout attempt by the loan facilitation industry under the dual pressures of tighter regulation and profit declines.

However, while adjusting the business, issues related to platform compliance operations and consumer rights protection have also gradually come to light. The Black Cat Complaints platform shows that Rongshu Loan has received more than 3,300 consumer complaints in total, with key complaint terms mainly including actual annualized interest rates exceeding the interest rate levels agreed in the contract, violent debt collection, guarantee fees, and so on.

On March 17, a consumer filed a complaint stating that on Rongshu Loan’s platform, in the “Kuai Le Hua” product, they borrowed 13,000 yuan, to be repaid in 12 installments. The repayment amount was about 1,300 yuan each installment. The contract agreed the loan’s annualized interest rate at 23.99%, but the actual annualized interest rate was as high as 35%. The consumer requested the platform to refund the fees that were not compliant.

The consumer complaint content indicates that Rongshu Loan’s problem of violent debt collection is relatively prominent. Multiple consumers said in their complaints that during Rongshu Loan’s collections, there were behaviors such as threats and intimidation, as well as contacting third parties.

Reporter: Liu Jinyang Editor: Cao Mengjia Proofreader: Tang Qi