Yiren Digital (formerly Yirendai) listed on the New York Stock Exchange (NYSE) in 2015. In January 2017, Mox Reports released a report with allegations of fraud and corporate governance abuses. It had little impact on the company’s share price. Two years later, in January 2019, another report was published on Seeking Alpha which highlighted regulatory short-comings and warned on an upcoming margin squeeze. Although by this stage Yiren Digital shar price had fallen more than 50% since its peak, financial performance began to deteriorate thereafter, dragging its share price down further. The allegations were mostly unproven given that its auditor continued to sign-off on its financials. However, the margin squeeze was validated by deteriorating financial performance.

Last updated April 2022

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