On June 20, WeLab founder and group CEO Long Peizhi said that the corporate restructuring has been completed. WeLend is now a wholly-owned subsidiary of WeLab Bank and plans to expand its Hong Kong business to the next stage of growth. WeLab Bank is expanding its business plan and improving its profitability at full speed. It currently serves more than 650,000 users and is expected to generate additional profits of HK $800 million in the next five years and is expected to become profitable in 2025.