Is happiness consumer finance fraud?

No, according to official website, Xinfu Consumer Finance is a national non-bank financial institution approved by China Banking Regulatory Commission. It is a formal financial institution initiated by Zhangjiakou Bank in conjunction with UCAR and Blue Whale Holdings. Hebei Happiness Consumer Finance Co., Ltd., founded on 20 17, is located in Shijiazhuang City, Hebei Province, and is an enterprise mainly engaged in financial industry. The registered capital of the enterprise is 637 million yuan, and the paid-in capital is 637 million yuan. In 2020, the equity transfer has been completed with a transaction amount of 250 million yuan.