Kuaishou appoints new CFO as part of its senior management reshuffle

January 18, 2022 7:00 pm

Kuaishou, China’s second-largest short video operator behind Douyin, has named former Joyy as its new chief financial officer three months after the short video operator announced the surprise departure of its chairman Su Hua.

Jin Bing, who previously served as CFO of live-streaming company Joyy and online tutoring company Zuoyebang, will replace Nicholas Yik Kay Chong, who has retired from his position and will serve as a senior adviser to the firm for two more years, according to a Kuaishou document filed to the Hong Kong Stock Exchange on Monday.

Prior to joining the tech companies, Jin Bing had an investment bank background and held various financial positions in big banks including the investment banking division of CitiGroup, Credit Suisse.

Jin Bing's appointment is part of Kuaishou’s effort to reshuffle its senior management team. In November 2021, Su Hua, a former Google engineer who graduated from China’s top university Tsinghua University, stepped down as CEO of the company, and his position was replaced by the co-founder Cheng Yixiao.

Kuaishou booked total revenue of CNY20.5 billion for the quarter ended September, representing year-over-year growth of 33.4 percent. However, the company booked consecutive loss-making quarters with a net loss of CNY7.1 billion and CNY7 billion for the third and second quarters of 2021.