SHANGHAI, Aug. 11, 2020
/PRNewswire/ -- FinVolution Group ("FinVolution", or the "Company")
(NYSE: FINV), a leading fintech platform in China, today announced that Mr. Shaofeng Gu, Chairman and Chief Innovation
Officer of the Company has informed the Company that he has
continued to purchase in his personal capacity 1.46 million of the
Company's American Depositary Shares in the second quarter of 2020.
The purchases were made during an open window period and in full
compliance with all company and legal guidelines.
Mr. Shaofeng Gu commented,
"Despite the challenging start to the year, many of the uncertainties and challenges appear to be behind us. Credit
risk performance on the Company's platform has not only stabilised but has improved to the lower-end of our vintage delinquency
range over the past 2-3 years. We have successfully transitioned
our platform from being primarily funded by individual
investors to being fully funded by institutional funding
partners. We continue to deeply believe
that a technology-driven focus will enable the Company to better
navigate through market dynamics and achieve sustainable
development in the long-term. I believe the current share price
undervalues the potential of the Company and serves as
a highly attractive investment opportunity."
As of June 30, 2020, Mr.
Shaofeng Gu beneficially owned
412,257,375 ordinary shares, representing approximately 27.7% of
ownership in the Company.
Safe Harbor Statement
This 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. 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 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, uncertainties as to
the Company's ability to attract and retain borrowers and investors
on its marketplace, its ability to increase volume of loans
facilitated through the Company's marketplace, its ability to
introduce new loan products and platform enhancements, its ability
to compete effectively, laws, regulations and governmental policies
relating to the online consumer finance industry in China, general economic conditions in
China, and the Company's ability
to meet the standards necessary to maintain listing of its ADSs on
the NYSE, including its ability to cure any non-compliance with the
NYSE'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 FinVolution 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 FinVolution Group
FinVolution Group is a leading fintech platform in China connecting underserved individual
borrowers with financial institutions. Established in 2007, the
Company is a pioneer in China's
online consumer finance industry and has developed innovative
technologies and has accumulated in-depth experience in the core
areas of credit risk assessment, fraud detection, big data and
artificial intelligence. The Company's platform, empowered by
proprietary cutting-edge technologies, features a highly automated
loan transaction process, which enables a superior user experience.
As of March 31, 2020, the Company had
over 108.3 million cumulative registered users.
For more information, please visit
http://ir.finvgroup.com
For investor and media inquiries, please contact:
In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan
Tel: +86 (21) 8030 3200- Ext 8601
E-mail: ir@xinye.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: finv@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com
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SOURCE FinVolution Group