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RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended
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Dec. 31, 2020
Related Party Transactions [Abstract] |
Summary of transactions with and amounts due from and due to related parties | The Company entered into the following transactions with its related parties:
|  | Year ended December 31, |
|  | 2018 |  |  | 2019 |  |  | 2020 |
|  | RMB |  |  | RMB |  |  | RMB |
Services provided by related parties: |  |  |  |  |  |  |  |  |  |  |  |
Jiayin Zhuoyue (1) |  |  | 77,984 |  |  |  | 81,206 |  |  |  | 55,207 |
Jiayin (Shanghai) (1) |  |  | 2,459 |  |  |  | 6,548 |  |  |  | 9,004 |
Shanghai Jiayin (2) |  |  | 13,806 |  |  |  | 8,280 |  |  |  | 5,845 |
Li Mahui (4) |  |  | — |  |  |  | — |  |  |  | 425 |
Kailiantong (3) |  |  | 8,065 |  |  |  | 2,255 |  |  |  | — |
Shilupan (5) |  |  | 17,202 |  |  |  | 7,863 |  |  |  | — |
Jiayin Credit (6) |  |  | 10,513 |  |  |  | 196 |  |  |  | — |
Geerong Yun (7) |  |  | 3,136 |  |  |  | — |  |  |  | — |
Total |  |  | 133,165 |  |  |  | 106,348 |  |  |  | 70,481 |
Services provided to related parties |  |  |  |  |  |  |  |  |  |  |  |
Kailiantong (3) |  |  | — |  |  |  | 1,761 |  |  |  | 6,209 |
Total |  |  | — |  |  |  | 1,761 |  |  |  | 6,209 |
14. | RELATED PARTY TRANSACTIONS - continued
|  | Year ended December 31, |
|  | 2018 |  |  | 2019 |  |  | 2020 |
|  | RMB |  |  | RMB |  |  | RMB |
Loans to related parties: |  |  |  |  |  |  |  |  |  |  |  |
Subsidiary shareholder (8) |  |  | — |  |  |  | — |  |  |  | 463 |
Subsidiary director (9) |  |  | — |  |  |  | — |  |  |  | 79 |
China Smartpay (10) |  |  | — |  |  |  | 119,924 |  |  |  | — |
GAYANG (11) |  |  | — |  |  |  | 1,716 |  |  |  | — |
Shanghai Jiayin (11) |  |  | — |  |  |  | 909 |  |  |  | — |
Shanghai Jiajie (11) |  |  | 7,700 |  |  |  | 800 |  |  |  | — |
SG Fintech(12) |  |  | — |  |  |  | 598 |  |  |  | — |
Geerong Yun (7) |  |  | 3,850 |  |  |  | — |  |  |  | — |
Total |  |  | 11,550 |  |  |  | 123,947 |  |  |  | 542 |
Loans from related parties |  |  |  |  |  |  |  |  |  |  |  |
Subsidiary shareholder (13) |  |  | — |  |  |  | — |  |  |  | 3,113 |
Jiayin Financial Leasing (14) |  |  | — |  |  |  | 150 |  |  |  | — |
Jiayin Credit (14) |  |  | 70,765 |  |  |  | 80 |  |  |  | — |
Total |  |  | 70,765 |  |  |  | 230 |  |  |  | 3,113 |
| (1) | Jiayin Zhuoyue and Jiayin (Shanghai) referred investors and borrowers to the Company and charged referral service fees. Jiayin (Shanghai) also collected loan facilitation service fees on behalf of the Company from customers.
| (2) | Shanghai Jiayin rents office space to the Company and charges other related service fee, which is calculated dependent on its usage of the underlying office space.
| (3) | Kailiantong provides cash payment services to the Company and charges transaction processing fees. The Company provided referral service to Kailiantong and charged loan facilitation fees, which resulted in the 2019 balance of amount due from related parties. Our Founder, Mr. Dinggui Yan, partially disposed of his investment over China Smartpay in September 2020, and therefore Mr. Dinggui Yan lost the significant influence over China Smartpay thereafter. As Kailiantong was wholly owned by China Smartpay, Kailiantong was no longer deemed as our related party as of October 2020.
| (4) | Limahui primarily provides internet catering service for employees of the Company and charged corresponding service fees. Mr. Zhang has significant influence over Limahui in the first three quarters of 2020.
| (5) | Shilupan provided credit analysis service for the Company and charged corresponding service fees.
| (6) | Jiayin Credit provided credit service to the Company and charged credit service fees.
| (7) | Geerong Yun provided referral services to the Company and charged referral service fees. Geerong Yun was acquired by the company in September 2019 and became our wholly-owned subsidiary thereafter.
| (8) | The amount represents loans to minority shareholders of the subsidiary company Thanh Cong Biz Link Joint Stock Company (“Biz link”) in 2020, for the investment and establishment of the Biz link, which are non-interest bearing, unsecured, and due on demand.
| (9) | The amount represents loans to the minority director of the subsidiary PT. Jayindo Fintek Pratama since November 2020 with principal of RMB 79 and annual interest rate of 6%. The outstanding loan balance will be repaid in 36 equal monthly installments.
| (10) | The Company entered into a loan contract with China Smartpay of RMB119,924(US$17,225) with fixed annual interest rate of 9%. The interest was RMB4,938 for the year ended December 31, 2019 and the interest portion through January to September 2020 was RMB7,570. The outstanding loan balance including principal and interests had been settled with consideration of the acquisition with Keen Best (See Note 7), together with a lump-sum cash payment of RMB37,372 in September 2020. Since October 2020, China Smartpay is no longer a related party of the Company.
| (11) | The amount represents loans which are non-interest bearing, unsecured, and due on demand.
14. | RELATED PARTY TRANSACTIONS - continued
| (12) | The amount represents loans to related parties in 2019, which results in the balance of amount due from related parties shown as below. The Company entered into a loan contract with SG Fintech of RMB 598 (US$86) with fixed interest rate 0.5%. The loan balance includes principal RMB 598 and interest receivable RMB 1. As of December 31, 2020, all principal and interest have been collected.
| (1 3) | The amount represents loans from minority shareholders of the subsidiary company Aguila Information, S.A.P.I. de C.V. (“Aguila Information”) in 2020, which results in the balance of amount due to related parties shown as below. Aguila Information entered into an agreement with minority shareholders that the portion of total investment capital which exceeds paid-in capital is deemed as loan to the Company. The loans will be due on March 31, 2021 with annual interest rate of 3%.
| (1 4) | The amounts represent loans from related parties in the years of 2018, 2019 and 2020 for the daily operation.
| (1 5) | Shanghai Zhundian Enterprise Service Co., Ltd.("Shanghai Zhundian")(formerly known as “Shanghai Limahui E-Commerce Co., Ltd”) was a related party controlled by Yan Dinggui, the Chairman of Jiayin Group during the period of January, 2020 to April, 2020. On April 22, 2020, Shanghai Zhundian was acquired by Jiayin Finance, and becomes a wholly-owned subsidiary of Jiayin Group Inc. The consideration is nil, and the Group recorded RMB 3,000 in APIC as it is a combination under common control and the net assets of Shanghai Zhundian on the acquisition date was RMB 3,000.
The following table present amounts due from and due to related parties as of December 31, 2019 and 2020:
|  | As of December 31, |
|  | 2019 |  |  | 2020 |
|  | RMB |  |  | RMB |
Amounts due from related parties |  |  |  |  |  |  |  |
Subsidiary shareholder |  |  | — |  |  |  | 463 |
Subsidiary director |  |  | — |  |  |  | 79 |
China Smartpay |  |  | 124,862 |  |  | — |
GAYANG |  |  | 1,716 |  |  |  | — |
Shanghai Jiayin |  |  | 1,564 |  |  |  | — |
Kailiantong |  |  | 1,050 |  |  |  | — |
Shanghai Jiajie |  |  | 800 |  |  |  | — |
SG Fintech |  |  | 599 |  |  |  | — |
Jiayin Credit |  |  | 131 |  |  |  | — |
Total |  |  | 130,722 |  |  |  | 542 |
Amounts due to related parties |  |  |  |  |  |  |  |
Subsidiary shareholder |  |  | — |  |  |  | 3,113 |
Jiayin Zhuoyue |  |  | 722 |  |  |  | 3,442 |
Shanghai Jiayin |  |  | — |  |  |  | 2,150 |
Jiayin Financial Leasing |  |  | 150 |  |  |  | — |
Jiayin Credit |  |  | — |  |  |  | 80 |
Total |  |  | 872 |  |  |  | 8,785 |
Amounts due from related parties primarily consist of loans to related parties. Amounts due to related parties primarily consist of the amount of service fees payable to related parties and loans from related parties.

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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