BEIJING and URUMQI, China,
Jan. 24, 2019 /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, through its wholly-owned subsidiary, China Feng Hui
Industrial-Financial Holding Group Co., Limited (HK), it has
acquired a 1% equity interest in Zhejiang Lixin Enterprise
Management Holding Co., Ltd. ("Lixin"), a financial service company
providing financial leasing, factoring, funding, financing
guarantee and supply chain management solutions and related
advisory services for individuals and MSMEs in the Yangtze River
Delta Region. The transaction has been approved by related
government agencies.
Additionally, China Lending announced that its business
factoring services business, which the Company launched in late
November through its recently incorporated subsidiary, Zhiyuan
Factoring (Guangzhou) Co., Ltd.,
has secured multiple business factoring contracts in Shanghai and Hangzhou with contract value of over
RMB 5 million, involving gross
transaction amount of over RMB 435
million, since its launch.
"The Lixin investment follows previously announced strategic
partnership between China Lending and Lixin and marks another
important step toward broader collaboration and cooperation between
the two parties. Over the past three months, China Lending has
benefitted tremendously from this partnership with Lixin helping
with realigning our resources, upgrading our product portfolio,
expanding our geographical outreach and reaching out to new
business partners and M&A targets," said Ms. Jingping Li, Chairwoman and Chief Executive
Officer of China Lending.
Ms. Li continued, "As China Lending moves through strategic
restructuring, thanks to the Lixin partnership, we are very pleased
to see that the newly launched business factoring services got off
to a good start. This marks the beginning of a new era for China
Lending as it evolves from single revenue stream, regional player
to a multiple-revenue stream, national player. We look forward to
further development of our partnership with Lixin and continuing
expansion of our service offerings and geographical outreach in
2019."
Zhejiang Lixin Enterprise Management Holding Co., Ltd.
("Lixin")
Headquartered in Hangzhou,
Zhejiang province, Lixin is a
financial service company focusing on providing a wide range of
financing solutions and related peripheral services to individuals
and MSMEs, including financial leasing, factoring, private funding,
financing guarantee and supply chain management, in the Yangtze
River Delta Region. Lixin and its subsidiaries were established in January 2013 with registered capital of
RMB 101 million (approximately
$14 million).
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 ability to recognize
the anticipated benefits of our business combination;
(3) the outcome of any legal proceedings that may be
instituted against the Company; (4) changes in
applicable laws or regulations; (5) the possibility
that the Company may be adversely affected by other economic,
business, and/or competitive factors; and (6) 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