SHENZHEN, China, May 24, 2021 /PRNewswire/ -- X Financial (NYSE:
XYF) (the "Company" or "we"), a leading technology-driven personal
finance company in China, today
announced that Mr. Shaoyong (Simon)
Cheng has been appointed as the Vice Chairman of the Board
of Directors and has resigned as President of the Company with
effect from May 24, 2021 and that Mr.
Kan (Kent) Li has been appointed as
President of the Company with effect from May 24, 2021.
Mr. Shaoyong (Simon) Cheng joined
us in 2015 and has served as our Director since December 2017.
Mr. Cheng served as our President starting from October 2017. Prior to serving as our President,
Mr. Cheng served as our Chief Risk Officer from 2015 to 2017.
Prior to that, Mr. Cheng served as deputy General Manager in
charge of retail lending management at Bank of Communications,
senior credit risk manager at HSBC North America and HSBC Asia
Pacific. Mr. Cheng also served as head of CEO office and head
of business banking at Hang Seng Bank China Limited, and manager at
Capital One. Mr. Cheng received a bachelor's degree and a
master's degree in engineering and a bachelor's degree in economics
from Tsinghua University, a master's degree in industrial
engineering and an MBA degree from University
of Southern California.
Mr. Kan (Kent) Li joined us in
2015 and served as our Chief Risk Officer starting from
November 2017. Prior to serving as
our Chief Risk Officer, Mr. Li served as a division director in
charge of unsecured loan risk from 2015 to 2017. Prior to that, he
served as a Sr. manager at Capital One Financial from September 2008 to November
2015, and had served many capacities in various position,
including customer acquisition, customer management, as well as
collections and recoveries. Before that, he worked as a Sr.
Strategy Analyst for ATB Financial, a regional bank in Canada, from May
2005 to August 2008. Mr. Li
received his bachelor's degree and master's degree in economics
from Southwestern University of
Economics and Finance. He has published several academic papers,
including a research paper in Review of Economics and Statistics
(edited by Harvard University).
About X Financial
X Financial (NYSE: XYF) (the "Company") is a leading online
personal finance company in China.
The Company is committed to connecting borrowers on its platform
with its institutional funding partners. With its proprietary big
data-driven technology, the Company has established strategic
partnerships with financial institutions across multiple areas of
its business operations, enabling it to facilitating loans to prime
borrowers under a robust risk assessment and control system.
For more information, please visit:
http://ir.xiaoyinggroup.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These statements can be identified by terminology such
as "will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "potential," "continue," "ongoing,"
"targets," "guidance" and similar statements. The Company may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
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. Any statements that are
not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Such factors and risks include, but not limited to the
following: the Company's goals and strategies; its future business
development, financial condition and results of operations; the
expected growth of the credit industry, and marketplace lending in
particular, in China; the demand
for and market acceptance of its marketplace's products and
services; its ability to attract and retain borrowers and investors
on its marketplace; its relationships with its strategic
cooperation partners; competition in its industry; and relevant
government policies and regulations relating to the corporate
structure, business and industry. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the SEC. All information provided in this
announcement is current as of the date of this announcement, and
the Company does not undertake any obligation to update such
information, except as required under applicable law.
For more information, please contact:
X Financial
Mr. Frank Fuya Zheng
E-mail: ir@xiaoying.com
Christensen
In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
E-mail: eyuan@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
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SOURCE X Financial