Pintec’s Subsidiary Aixin Announces Successful Interface with the Credit Reference Center of The People’s Bank of China
April 07 2020 - 12:30AM
Pintec Technology Holdings Limited (Nasdaq: PT) (“Pintec” or the
“Company”), a leading independent technology platform enabling
financial services in China, today announced that its subsidiary,
Ganzhou Aixin Internet Micro Finance Co., Ltd. (“Aixin”), has
successfully interfaced with the Credit Reference Center (“CRC”) of
The People’s Bank of China (“PBOC”). Aixin is the first internet
microfinance service provider with national service coverage in
Jiangxi Province to successfully interface with the CRC, enabling
Aixin to leverage the CRC’s extensive credit reference database
(the “database”) to further optimize its service offerings in
China.
Aixin, formerly known as Ganzhou Jimu Micro
Finance Co., Ltd., was founded in April 2016 with total registered
capital of RMB500 million. In December 2017, Aixin received initial
approval from the PBOC to access the CRC and begin the process of
interfacing with its system. In March 2019, Aixin became a
wholly-owned subsidiary of the Company.
The CRC is a credit information agency directly
administered by the PBOC and is considered an essential component
of the financial infrastructure in China. Companies that receive
approval from the PBOC are able to access the CRC’s database to
assess the ability of individuals and businesses to repay debt.
Notably, the database is currently composed of 1.02 billion
individuals and 28.3 million businesses in China.
“The approval of Aixin to access the CRC’s
database by the PBOC is further recognition of its comprehensive
regulatory compliance as well as the strength of its risk
management capabilities,” commented Mr. Steven Sim, Chief Financial
Officer of Pintec. “In response to the novel coronavirus COVID-19
outbreak in China, Aixin has implemented a series of initiatives to
help its small and medium-sized enterprise customers overcome their
current funding challenges in the marketplace. Going forward, we
plan to continue expanding Aixin’s financing services, refining its
product offerings, upgrading its technological capabilities, and
exploring joint business development opportunities to accelerate
Aixin’s growth trajectory. Moreover, we are confident that Aixin’s
successful interface with the CRC’s database will heighten our risk
control processes and contribute to enhancing the overall quality
of our credit assets, both of which are mission-critical to driving
to the sustainable growth of our company over the long term.”
Safe Harbor StatementThis press
release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended, and
as defined in the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "target," "confident"
and similar statements. Among other things, the quotations from
management in this announcement, as well as Pintec’s strategic and
operational plans, contain forward-looking statements. Pintec may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission, in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Such statements are based
upon management's current expectations and current market and
operating conditions, and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control. Forward-looking statements involve inherent risks,
uncertainties and other factors that could cause actual results to
differ materially from those contained in any such statements.
Potential risks and uncertainties include, but are not limited to,
the Company’s limited operating history, regulatory uncertainties
relating to online consumer finance in China, the Company’s
reliance on Jimu Group for a significant portion of its funding and
the need to further diversify its financial partners, the Company’s
reliance on a limited number of business partners, the impact of
current or future PRC laws or regulations on wealth management
financial products, publicity regarding the consumer finance
industry and the evolving regulatory environment governing this
industry in China, and the Company's ability to meet the standards
necessary to maintain the listing of its ADSs on the Nasdaq Global
Market, including its ability to cure any non-compliance with
Nasdaq's continued listing criteria. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the U.S. Securities and Exchange Commission.
All information provided in this press release is as of the date of
this press release, and the Company does not undertake any
obligation to update any forward-looking statement as a result of
new information, future events or otherwise, except as required
under applicable law.
About PintecPintec is a leading
independent technology platform enabling financial services in
China. By connecting business and financial partners on its open
platform, Pintec enables them to provide financial services to end
users efficiently and effectively. The Company offers its partners
a full suite of customized solutions, ranging from point-of-sale
financing, personal installment loans and business installment
loans, to wealth management and insurance products. Leveraging its
scalable and reliable technology infrastructure, Pintec serves a
wide range of industry verticals covering online travel,
e-commerce, telecommunications, online education, SaaS platforms,
financial technology, internet search, and online classifieds and
listings, as well as various types of financial partners including
banks, brokers, insurance companies, investment funds and trusts,
consumer finance companies, peer-to-peer platforms and other
similar institutions. For more information, please visit
ir.Pintec.com.
Investor Relations ContactJoyce
TangPintec Technology Holdings Ltd.Phone: +1-646-308-1622E-mail:
ir@Pintec.com
Jack WangICR Inc.Phone: +1-646-308-1622E-mail:
Pintec@icrinc.com
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