BEIJING, Aug. 9, 2018 /PRNewswire/ -- China Lending
Corporation ("China Lending" or the "Company") (Nasdaq: CLDC), a
non-bank direct lending corporation servicing micro, small and
medium sized enterprises (MSME), currently underserved by
commercial banks in China, today
announced that, on August 6, 2018,
Xinjiang Xinquan Financial Leasing Co., Ltd. ("Xinquan"), a
wholly owned subsidiary of the Company that engages in the
business of financial leasing, increased its registered capital
from US$30.0 million to US$50.0 million. Xinjiang Heli Kaiyuan
Construction Co., Ltd. ("XHKC") injected US$20.0 million of new capital into Xinquan. Upon
completion of the transaction, the Company, through China Fenghui
Financial Holdings Group, holds a 60% interest in Xinquan (20% is
held by XHKC on behalf of the Company) and XHKC holds a 40%
interest in Xinquan.
About China Lending Corporation
Founded in 2009, China Lending is a non-bank direct lending
corporation and provides services to micro, small and medium sized
enterprises, farmers, and individuals, who are currently
underserved by commercial banks in China. Headquartered in Urumqi, the capital of
Xinjiang Autonomous Region, with a registered capital of
$94.7 million (RMB 600 million) as of June 30, 2018 China Lending is one of the largest
direct lending companies in the region in terms of registered
capital. For more information, please visit:
www.chinalending.com.
Forward-Looking Statements
This press release may include forward-looking statements
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical facts, included in this press release
that address activities, events or developments that China Lending
expects or anticipates will or may occur in the future are
forward-looking statements and are identified with, but not limited
to, words such as "may," "believe" and "expect." These statements
are based on certain assumptions and analyses made by China Lending
in light of its experience and its perception of historical trends,
current conditions and expected future developments as well as
other factors it believes are appropriate in the circumstances.
Actual results may differ materially from those expressed herein
due to many factors such as, but not limited to, (1) the ability to
obtain or maintain the listing of the Company's securities on the
NASDAQ Capital Market; (2) the risk that our recent business
combination disrupts the Company's current plans and operations;
(3) the ability to recognize the anticipated benefits of our recent
business combination, which may be affected by, among other things,
closing proceeds, competition and the ability of the business to
grow and manage growth profitably; (4) the outcome of any legal
proceedings that may be instituted against the Company; (5) changes
in applicable laws or regulations; (6) the possibility that the
Company may be adversely affected by other economic, business,
and/or competitive factors; and (7) other risks and uncertainties
indicated from time to time in the proxy statement filed by the
Company in connection with the business combination, including
those under "Risk Factors" therein, and other factors identified in
the Company's prior and future filings with the SEC, available
at www.sec.gov.
These forward-looking statements are based on information
available as of the date of this press release and involve a number
of judgments, risks and uncertainties. Accordingly, forward-looking
statements should not be relied upon as representing our views as
of any subsequent date and the Company undertakes no obligation to
update any forward-looking statements contained herein to reflect
events or circumstances which arise after the date of this press
release, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities
law.
For investors and media inquiries please contact:
At the Company:
Katrina Wu
Email: wuxiaoqing@chinalending.com
Phone: +86-991-316-9617
Investor Relations:
Tony Tian, CFA
Weitian Group LLC
Email: ttian@weitianco.com
Phone: +1-732-910-9692
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SOURCE China Lending Corporation