Welcome to our dedicated page for 9F SEC filings (Ticker: JFU), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The 9F Inc. (NASDAQ: JFU) SEC filings page provides access to the company’s reports as a foreign private issuer, including Form 20-F annual reports and Form 6-K current reports. In these documents, 9F Inc. describes itself as a digital technology service provider aiming to empower institutional partners with advanced financial technologies, and as a blockchain-based digital securities brokerage platform and service technology company with activities in China, Hong Kong and other markets.
Through its filings, the company reports financial results, including total net revenues, net income, adjusted net income, and the breakdown of revenues into sales income, technical services revenues and wealth management revenues. Earlier filings also detail loan facilitation services revenue, post-origination services revenue and other revenues related to its digital financial account platform. Investors can review unaudited interim results, explanations of changes in revenue composition, operating expenses, interest income and gains or losses on investments in marketable securities.
9F Inc.’s SEC reports also discuss regulatory impacts and business adjustments, such as the effect of regulations on internet loan facilitation in China, the cessation of certain online lending information intermediary services in Mainland China, and the company’s focus on technology enablement services and overseas brokerage operations. Filings describe how regulatory notices are expected to reduce some technology-based businesses and prompt cost control and efficiency measures.
In addition, the filings disclose internal control and audit matters, including changes in the independent registered public accounting firm and identified material weaknesses in internal control over financial reporting. Balance sheet information in the filings shows cash and cash equivalents, term deposits, restricted cash, investments in marketable securities, accounts receivable and other key items, along with shareholders’ equity and non-controlling interests.
On this page, users can review these SEC submissions alongside AI-powered summaries that explain key points from lengthy reports, highlight changes in revenue drivers, and clarify technical disclosures on non-GAAP measures such as adjusted net income. Filings related to topics like audit firm changes, internal control weaknesses and regulatory developments are available to help readers understand how 9F Inc. presents its financial condition, operations and risk factors in official documents.
9F Inc. director Ouyang Yuping has filed a Form 3, which is an initial insider ownership report for company officers, directors, or large shareholders. This filing lists Ouyang’s status as a director of 9F Inc. but does not report any insider transactions in the excerpt provided.
9F Inc. filed an initial insider report listing Gong Fangxiong as a director of the company. The filing shows no reported transactions or derivative positions and no holding entries in the data provided, so it functions mainly as a baseline disclosure of his reporting status.
9F Inc. filed a Form 3 showing the initial insider holdings of major shareholder Ren Yifan. The filing reports indirect ownership of 43,583,400 Class A Ordinary Shares held through Nine Fortune Limited, a British Virgin Islands company controlled by Ren.
9F Inc. Chief Financial Officer Zhang Li (Joanne) has filed an initial insider ownership report on Form 3. The filing identifies her role as an officer but, in the provided data, does not list any insider share transactions, holdings, or derivative positions.
9F Inc. director and 10% owner Lei Sun filed an initial Form 3 showing substantial indirect ownership through Nine F Capital Limited. The filing reports indirect holdings of 6,085,465 Class A ordinary shares and 58,348,000 Class B ordinary shares held by Nine F Capital Limited.
Nine F Capital Limited is indirectly wholly owned by The Nine F Trust, for which Lei Sun is settlor and protector and, together with his family members, a beneficiary. Under the trust terms, he can direct the trustee on voting, retention, or disposal of the shares held in 9F Inc.
9F Inc. director and executive officer Liu Lei has filed an initial ownership report showing his indirect equity interests in the company through Stone Cube Capital Ltd., which he wholly beneficially owns. The filing lists 3,000,000 Class A Ordinary Shares and 1,347,600 Class B Ordinary Shares held indirectly by Stone Cube Capital Ltd.
It also reports an option, held indirectly through Stone Cube Capital Ltd., covering 1,500,000 Class A Ordinary Shares at an exercise price of $2.3430 per share, expiring on June 30, 2026. According to the disclosure, these options are fully vested and exercisable as of the filing date.
9F Inc. director Xiao Changxing has filed an initial ownership report showing indirect beneficial ownership of 13,920,300 Class A Ordinary Shares. These shares are held through DFM Capital Ltd., which is controlled via Guernsey trust structures, and Xiao can direct how the trustee votes and disposes of these shares.
9F Inc. reported unaudited first half 2025 results, highlighted by net income of RMB218.5 million, up from RMB12.5 million a year ago. Management noted an ongoing transition under new internet loan facilitation rules, which is expected to reduce technology-based businesses and drive a focus on efficiency, cost control, and new opportunities.
Total net revenues were RMB152.1 million, modestly higher year over year. Sales income rose to RMB75.9 million (up 69.5%) on product mix adjustments, while technical services fell to RMB61.0 million (down 22.3%) and wealth management to RMB15.3 million (down 21.7%).
Total operating expenses and fees decreased 41.8% to RMB124.0 million, with notable declines in origination and servicing and general and administrative costs, and a small reversal of credit losses. Interest income and realized gains reached RMB56.5 million, and unrealized gains on marketable securities were RMB133.7 million. Adjusted net income was RMB105.1 million. Cash and cash equivalents and term deposits were RMB443.6 million as of June 30, 2025.
9F Inc. reported a change in its independent auditor. The board of directors and audit committee approved the dismissal of Wei, Wei & Co., LLP as the company’s independent registered public accounting firm, effective September 16, 2025, and appointed Marcum Asia CPAs LLP as the new auditor for the fiscal year ending December 31, 2025.
The prior auditor’s reports on 9F’s consolidated financial statements for fiscal years ended 2024 and 2023 contained no adverse opinions, disclaimers, or qualifications. The company states there were no disagreements with Wei, Wei & Co. on accounting principles, financial disclosure, or audit scope, and no reportable events other than previously identified material weaknesses in internal control over financial reporting, including limited U.S. GAAP and SEC reporting expertise, insufficient documentation for certain transactions and investment analyses, and inadequate policies for complex financial instruments.
9F Inc. presents consolidated U.S. GAAP financials and consolidates PRC VIEs via contractual arrangements. As of December 31, 2024 the company had 235,466,660 ordinary shares outstanding (174,304,260 Class A; 61,162,400 Class B) and used an exchange rate of RMB7.2993 per US$1.
The company returned to profitability with net income of RMB50.2 million (US$6.9 million) in 2024 after prior-year losses and reported operating cash flow of RMB46.5 million (US$6.4 million) in 2024. Material legal and regulatory exposures are disclosed: a contract claim against PICC seeking approximately RMB2.3 billion, judicial freezing orders on assets of about RMB326 million as of May 20, 2025, reliance on VIE contractual arrangements that could be unenforceable under changing PRC law, and potential CSRC filing, cybersecurity review and HFCAA inspection risks that could affect its overseas listing and operations.