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China's 9F unit acquires stake in Hubei Consumer Finance

China-based digital financial account platform 9F Inc., through its wholly owned subsidiary, acquired a strategic stake in Hubei Consumer Finance Co., Ltd.

Details of the deal were not disclosed. Following the transaction, 9F's subsidiary is now the second-largest shareholder in the consumer finance company, according to a Sept. 25 release.

Through the acquisition, 9F will leverage its technical experience to assist Hubei Consumer Finance in acquiring traffic and deploying AI technology across its consumer finance business.