On August 17th, according to reports from Trust News, Fusion Bank, a Hong Kong virtual bank in which Tencent has a stake, announced layoffs after changing its CEO last month. It is reported that about 20 employees have been laid off, with some positions being replaced by employees from Tencent's WeBank and some IT staff being asked to become contract workers.

Data shows that Fusion Bank's losses continued to expand last year, with operating expenses increasing by 25.1% to 525 million yuan, and losses expanding from 435 million yuan in the previous year to 534 million yuan last year.