360 Founder Zhou Hongyi Denies Ties to Controversial Loan Service, Sparking Public Skepticism

On April 27, Zhou participated in a live streaming event in Rongchang, where he was asked by a brave attendee whether he could waive a debt owed to 360 Borrow. Zhou replied, "That's not my company," leaving many to wonder about the true nature of 360 Borrow's relationship with 360. Despite Zhou's denial, many are still unsure about the legitimacy and safety of 360 Borrow, which has been rebranded as Qirui Borrow.

The controversy surrounding 360 Borrow has highlighted the complexities of China's internet finance industry, where companies often operate in a gray area, blurring the lines between legitimate and illegitimate businesses. As the debate continues to unfold, one thing is certain: consumers are becoming increasingly cautious about their financial transactions and are seeking more transparent and reliable loan services.

The 360 borrowing platform, a fundamental business of QiFu Technology, remains a crucial component of Zhou Hongyi's business landscape despite his reduced direct involvement in the company's management. According to data from Nami AI, Zhou's influence persists through his equity stake and strategic cooperation, making QiFu Technology's profitability a vital source of funding for his investments in new businesses, such as Nezha Automobiles. The shift in deposit interest rates, as observed by the Fintech Research Institute, reveals a notable decrease, with 3-year and 5-year deposit rates showing a pronounced difference, and the overall rate entering the "1.0" range. This downward trend in interest rates may have implications for companies like QiFu Technology, which rely on the profitability of their financial services to fund other ventures.

The relationship between Zhou Hongyi and 360 Borrow has sparked controversy, with many questioning the extent of his involvement. While Zhou may claim that 360 Borrow is not his company, a closer examination of the corporate structure and strategic partnerships reveals a more nuanced reality. According to publicly available information, Zhou is listed as the actual beneficiary of 360 Borrow, raising questions about the extent of his involvement. Some netizens have expressed skepticism about Zhou's assertion, with one commentator calling it "a blatant lie" in a viral video. The commentator argues that while Zhou may not be the sole owner of 360 Borrow, it is implausible to claim that he has no connection to the company, given his significant influence and control through shareholdings and strategic collaborations.

The debate surrounding Zhou's relationship with 360 Borrow highlights the complexities of corporate ownership and control in China's tech industry. As the founder of 360 Group, Zhou has built a business empire with significant interests in cybersecurity, finance, and other sectors. While he may have diversified his holdings and scaled back his direct involvement in certain ventures, his reputation and influence continue to loom large over the companies he has founded or invested in. The controversy also underscores the challenges of transparency and accountability in China's corporate landscape. With complex webs of shareholdings, subsidiary companies, and strategic partnerships, it can be difficult to discern the true nature of ownership and control.

Despite stepping down from his roles as a director and chairman of the board, Zhou Hongyi still holds shares in the company. As a result, his statement about 360 Borrowing being "not my company" has been met with skepticism by many netizens. A commentator expressed that Zhou's words are untrustworthy, stating "nothing he says can be believed," which has sparked controversy online. This incident highlights the ongoing scrutiny of Zhou's actions and the skepticism surrounding his claims, with many viewing his statement as insincere. The fact that Zhou still holds a stake in the company has led many to question the sincerity of his attempts to distance himself from 360 Borrowing, fueling further debate and discussion among online users.