makinezmoney
3 years ago
$RAHGF: More SOLID NEWS today......... JV established
Im guessing something MetaVerse NFT Crypto and AI related news isn't far off either
GO $RAHGF
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Roan Holdings Group Co., Ltd. Announces Agreement to Establish Joint Venture to Develop Its Entertainment Technology Business
8:00 AM ET 11/18/21 | Dow Jones
HANGZHOU, China and BEIJING, Nov. 18, 2021 /PRNewswire/ -- Roan Holdings Group Co., Ltd. ("Roan" or the "Company") (OTC Pink Sheets: RAHGF and RONWF), a provider of diversified solutions in financial, insurance and healthcare related products and management services, today announced that the Company's subsidiary, FINE C+ Interactive Technology (Hangzhou) Limited (the "FINE C+ Interactive"), has signed a cooperation agreement (the "Agreement") with Beijing Liuxinghuoyu Technology Co., Ltd. (the "Liuxinghuoyu"), a subsidiary of Harvest Horn (Beijing) Marketing Co., Ltd. ("Harvest Horn"), to set up an entertainment technology joint venture ("Target") focusing on expanding its theme park business.
Pursuant to the Agreement, the Target is positioned as a service provider base on the integration of entertainment, artificial intelligence, and the intellectual properties ("IP"). The Target, tentatively named FINE C+ Entertainment Technology (Hangzhou) Limited, will be registered in Hangzhou City with a registered capital of RMB 1 million. Both parties will hold the Target's equity with cash investment; FINE C+ Interactive and Roan's partners will hold 70% equity, and Harvest Horn's subsidiary, Liuxinghuo will hold the remaining 30% equity.
To support the Target's operational development, Roan will be responsible for formulating the Target's development strategies, and overseeing both the Target's resource management and system construction. FINE C+ Interactive will provide the overall solution for the theme park project including design and implementation, operational management, and interactive technical support service. Harvest Horn and its subsidiary, Liuxinghuoyu will be responsible for Target's IP operational management, technological research and development, and derivative product development according to consumer needs. All parties will share their resources and utilize their respective advantages to jointly promote the Target's business development and global market expansion.
Mr. Junfeng Wang, Chairman of the Company, commented: "I am very excited to announce the signing of a cooperation agreement with Harvest Horn which shows our determination to further expand into the personal consumption market, beginning with establishing the joint venture, FINE C+ Interactive Technology (Hangzhou) Limited last month. The objective of this cooperation is focusing on the development and the operation in the theme park market. The development advantages in the cultural and creative field from Harvest Horn, and its platform-based IP operation and driving capabilities, are a perfect combination with Roan's business layout to enhance its strategic footprint in the cultural and tourism industry. I believe that this cooperation will greatly enhance our IP production and developmental abilities in the cultural and tourism business operation, which bring us continuous IP peripheral derivatives and the commercialization capacity of customized IP products, which will particularly enrich our theme park realization ability, and to achieve the commercial value combination of the IP economic and our immersive interactive technology platform."
About Harvest Horn (Beijing) Marketing Co., Ltd.
Harvest Horn (Beijing) Marketing Co., Ltd. is an intellectual property commercialization comprehensive service provider, focusing on the fully commercialized solutions of intellectual property authorized derivatives. It services a series of in-vogue intellectual properties including Arena of Valor, Onmyoji, Royal War, Trilbal Conficts, Popmart, etc. Its advanced research and development system, experienced supply chain management and outstanding Non-Fungible Token commercialization capabilities, are suitable for multiple types of IP in the two-dimensional field, to obtain the IP customers by the multi-channels. The team members mainly come from leading companies in the internet and online video industry. Company's customers are core IP business service providers including Tencent Games and China Literature Limited.
About Roan Holdings Group Co., Ltd.
Founded in 2009, Roan Holdings Group Co., Ltd. (OTC Pink: RAHGF and RONWF) is a financial, insurance and healthcare related solutions company serving individuals and micro-, small- and medium-sized enterprises ("MSMEs") in China. Roan provides health management, assets management, and insurance, healthcare and consumer financing services to employees of large institutions. Roan has offices in Hangzhou and Beijing and subsidiaries in Hangzhou, Ningbo, Guangzhou, Shaoxing, Urumqi and Tianjin. For more information, please visit: www.roanholdingsgroup.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, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, the consummation of the proposed transaction, and can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations of the consummation of the proposed transaction, 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. Further information regarding these and other risks, uncertainties or factors are included in the Company's filings with the U.S. Securities and Exchange Commission. 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 law.
IR Contact:
At the Company:
Katrina Wu
Email: xiaoqing.wu@roanholdingsgroup.com
Phone: +86-571-8662 1775
Investor Relations Firm:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)
View original content:https://www.prnewswire.com/news-releases/roan-holdings-group-co-ltd-announces-agreement-to-establish-joint-venture-to-develop-its-entertainment-technology-business-301427775.html
SOURCE Roan Holdings Group Co., Ltd.
> Dow Jones Newswires
November 18, 2021 08:00 ET (13:00 GMT)
makinezmoney
3 years ago
$RAHGF: More Awesome News....... Signing additional Subsidiaries
Increasing More REVENUE streams.
This Chinese player is flying under the radar.
It will easily rip over $1
GO $RAHGF
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Roan Holdings Group Co. Announces the Signing of a Cooperation Agreement with Hangzhou Weiche Info Tech to Implement Growth Strategies on Lifestyle Consumer Services
NEWS PROVIDED BY
Roan Holdings Group Co., Ltd.
Nov 15, 2021, 08:00 ET
SHARE THIS ARTICLE
BEIJING and HANGZHOU, China, Nov. 15, 2021 /PRNewswire/ -- Roan Holdings Group Co., Ltd. ("Roan" or the "Company") (OTC Pink Sheets: RAHGF and RONWF), a provider of diversified solutions in financial, insurance and healthcare related products and management services, announced today that the Company's subsidiary, Yifu Health Industry (Ningbo) Co., Ltd. ("Yifu"), has signed a cooperation agreement (the "Agreement") with Hangzhou Weiche Info Tech Co., Ltd. ("Weiche"), a national high-tech company focused on travel consumption and parking payment realization services, in order to further the development of Roan's growth strategies on its lifestyle consumer services business.
According to the terms of the Agreement, both parties will share resources and utilize each parties' respective advantages in order to jointly provide accurate and real-time smart parking services. In addition, both parties will enhance their related products such as developing virtual electronic coupons for their individual customers, based on mobile internet, big data and cloud computing technologies. Pursuant to the Agreement, Weiche will develop the electronic parking coupon product, and provide the HTML5 page refresh and parking coupon rights embedding channels to Roan. Weiche is also responsible for the operational stability of the digital marketing tools system, and will work with Roan to provide standardized solutions and related supports to their corporate customers. When the order amount exceeds the single deductible amount of the electronic parking coupon, the fee will be automatically deducted when the customers use WeChat to pay, which will be applicable to the all WeChat payment parking lots in China.
Mr. Junfeng Wang, Chairman of the Company, commented: "We are pleased to begin this partnership with Weiche, a national personal travel consumption service company. Following our previously announced establishment of the joint ventures, with the FINE C+ Interactive Technology (Hangzhou) Limited developing its culture and tourism consumption business in October 2021, and with the Zhejiang Yijia Travel Digital Technology Co., Ltd developing its business travel service in July 2021, we continue to make extensive progress on our long-term growth strategies of upgrading and developing our personal consumption service system.
Our new partner, Weiche has an extensive operation network across nationwide, covering 32 provinces and autonomous regions, 320 cities, 95% of the WeChat payment smart parking lots, and serving more than 50 million car users in China. With its 21 intelligent marketing and management independent intellectual property rights base on the Matrix big data precise algorithms and AI intelligent technology, Weiche has effectively served the high-level car-owners in China. Weiche is also among China's first cohort with WeChat's banking service provider, WeChat's parking rights issuer, and WeChat's "Internet + Car" project partner. This strategic cooperation with Weiche is not only enhances the transformation space of our existing banking resource rights and interests and obtain more potential customers, but also enable the Company to enjoy the increasing abilities in our business segments and marketability in the future. Looking forward, we anticipate seizing the opportunity presented by this Agreement by accelerating the digital transformation in the personal consumption service business, and to utilize our new cooperation with Weiche to deliver more products and services for our customers."
About Hangzhou Weiche Info Tech Co., Ltd.
Hangzhou Weiche Info Tech Co., Ltd., is a national high-tech company focused on travel consumption and parking payment realization services. The company's current service network covers 32 provinces and autonomous regions, 320 cities, 95% of the WeChat payment smart parking lot, and serves more than 50 million car users in China. The company has 21 intelligent marketing and management independent intellectual property rights base on Matrix big data precise algorithms and AI intelligent technology to effectively serve the high-level car-owners in China. The company is among China's first cohort as a WeChat banking service provider, WeChat parking rights issuer, and as a WeChat "Internet + Car" project partner. For more information, please visit: www.ttcars.com.cn.
About Roan Holdings Group Co., Ltd.
Founded in 2009, Roan Holdings Group Co., Ltd. (OTC Pink: RAHGF and RONWF) is a financial, insurance and healthcare related solutions company serving individuals and micro-, small- and medium-sized enterprises ("MSMEs") in China. Roan provides health management, assets management, and insurance, healthcare and consumer financing services to employees of large institutions. Roan has offices in Hangzhou and Beijing and subsidiaries in Hangzhou, Ningbo, Guangzhou, Shaoxing, Urumqi and Tianjin. For more information, please visit: http://www.roanholdingsgroup.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, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, the consummation of the proposed transaction, and can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations of the consummation of the proposed transaction, 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. 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. 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 law.
IR Contact:
At the Company:
Katrina Wu
Email: xiaoqing.wu@roanholdingsgroup.com
Phone: +86-571-8662 1775
Investor Relations Firm:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)
SOURCE Roan Holdings Group Co., Ltd.
makinezmoney
3 years ago
$RAHGF: AWESOME NEWSSSSSSSSSSSS
Love it !!!!!!!!
Roan Holdings Group Announces Agreement to Set Up Joint Venture to Acquire Multimedia Interactive Technologies and Expand into Culture and Tourism Industry Markets
8:00 AM ET 10/18/21 | Dow Jones
BEIJING and HANGZHOU, China, Oct. 18, 2021 /PRNewswire/ -- Roan Holdings Group Co., Ltd. ("Roan" or the "Company") (OTC Pink: RAHGF and RONWF), a provider of diversified solutions in financial, insurance and healthcare related products and management services, today announced that the Company has signed a cooperation agreement (the "Agreement") with Flourishing Technology Inc. ("Flourishing") and media interactive technology experts (collectively, the "Parties") to set up a joint venture, FINE C+ Interactive Technology (Hangzhou) Limited (the "Target"), to jointly develop culture and tourism consumption, education development industry business and personal finance services.
Pursuant to the Agreement, the Target will be engaged in offering cultural tourism facilities and products research and development, construction investment, sales and operations, customers maintenance and services; immersive interactive education facilities and products research and development, market promotion, and customer maintenance and services, utilizing multimedia real-time multi-threaded interactive technologies. Roan and Flourishing will use their resource sharing and respective advantages to jointly set up a technology-based immersive interactive multimedia cultural and tourism company. The Target will have an initial registered capital of RMB 5 million.
According to the agreement, Roan will be the largest shareholder in the Target by cash investment. To ensure smooth cooperation, Roan will be responsible for the Target's development strategies and operation management; Flourishing will be responsible for Target's technical research and development, production process management, facilities installation and maintenance, and software updates. Both parties will work together to jointly promote the business operation and global market expansion of the Target.
Mr. Junfeng Wang, Chairman of the Company, commented: "We continue to expand in the personal consumption services market. Reaching a strategic cooperation agreement with Flourishing Technology Inc. represents that we have taken an essential step in implementing our growth strategy in the cultural and tourism consumption service industry. Flourishing Technology Inc. and its technical team have been in the leading position of multimedia real-time multi-threaded interactive technology, and it is the only company in China and one of the only five companies in the world that have this key technology. The technology also provides perfect synergy that offers and creates consumption traffic and scenarios to our consumer payment JV previously set up with Harvest."
"Theme parks have now become a very hot sector with investment pouring into the industry as major international intelligent properties, such as Universal Studios, enter the Chinese market. Thanks to its more economic development costs, this core technology now provides immersive multimedia interactive recreational facilities for theme parks, tourist attractions, museums and large-scale commercial complexes."
"The Target company's operations will be based on the multimedia real-time multi-threading interactive technology, technology application ability and large tourist traffic attraction of Flourishing Technology Inc. and its technical team, and consolidate more leading IP resources whilst combining with the Company's own advantages in business operations, marketing channels and strategic plan, to establish a nationwide theme park ecosystem and consumption behavior. In addition, Company also plans to launch immersive interactive cultural and tourism products. We firmly believe that will bring significant profit for the company in the future."
About Flourishing (Beijing) Animation Technology Co., Ltd.
Flourishing (Beijing) Animation Technology Co., Ltd. is a China-Canada high-tech joint venture, which is a member of International Association of Amusement Parks and Attractions (IAPPA) and is a council member of China Association of Amusement Parks and Attractions (CAAPA). The company is located in Tongzhou District in Beijing, covering 20,000 square meters and having built area of 15,000 square meters. It is specialized in the design, manufacturing, film development and production, software development and system integration of interactive theatre, dynamic theatre, Interactive Dark Ride, flying theatre and other recreational facilities. It also provides immersive multimedia interactive recreational facilities for theme parks, tourist attractions, museums and large-scale commercial complexes at home and abroad.
About Roan Holdings Group Co., Ltd.
Founded in 2009, Roan Holdings Group Co., Ltd. (OTC Pink: RAHGF and RONWF) is a financial, insurance and healthcare related solutions company serving individuals and micro-, small- and medium-sized enterprises ("MSMEs") in China. Roan provides health management, assets management, and insurance, healthcare and consumer financing services to employees of large institutions. Roan has offices in Hangzhou and Beijing and subsidiaries in Hangzhou, Ningbo, Guangzhou, Shaoxing and Tianjin. For more information, please visit: www.roanholdingsgroup.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, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, the consummation of the proposed transaction, and can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations of the consummation of the proposed transaction, 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. 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. 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 law.
IR Contact:
At the Company:
Katrina Wu
Email: xiaoqing.wu@roanholdingsgroup.com
Phone: +86-571-8662 1775
Investor Relations Firm:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)
View original content:https://www.prnewswire.com/news-releases/roan-holdings-group-announces-agreement-to-set-up-joint-venture-to-acquire-multimedia-interactive-technologies-and-expand-into-culture-and-tourism-industry-markets-301401938.html
SOURCE Roan Holdings Group Co., Ltd.
> Dow Jones Newswires
October 18, 2021 08:00 ET (12:00 GMT)
makinezmoney
3 years ago
$RAHGF: Biggggggg NEWS......... time to RIP to $1 !!!!!
Roan Holdings Group Announces Agreement to Set Up Joint Venture to Expand in Consumer Health Services Market
8:00 AM ET 10/14/21 | Dow Jones
BEIJING and HANGZHOU, China, Oct. 14, 2021 /PRNewswire/ -- Roan Holdings Group Co., Ltd. ("Roan" or the "Company") (OTC Pink: RAHGF and RONWF), a provider of diversified solutions in financial, insurance and healthcare related products and management services, today announced that the Company's subsidiary, Yifu Health Industry (Ningbo) Co., Ltd. ("Yifu") has signed a cooperation agreement (the "Agreement") with Smart Cloud Technologies Holding (Beijing) Co., Ltd ("Smart Cloud"), a blockchain and AI healthcare data security solutions provider, and Shanghai Jingmu Information Technology Co. Ltd. ("Jingmu"), a critical disease medical consultation firm, to set up a remote medical consultation and traditional Chinese medicine direct supply joint venture (the "Target") targeting overseas big health markets.
Pursuant to the Agreement, the Target will make use of Jingmu's system development expertise to build a remote medical consultation and traditional Chinese medicine direct supply platform targeting overseas customers. The Target will also help Roan and affiliated companies promote and market the scientific achievements and products of the Company's "homology of medicine and food" medical studies that aim to expand the targeted base of both domestic and overseas consumers. By setting foot in the big health and finance industries, the Target will run and manage an AI-empowered medical consultation technology system, which combines innovative insurance products that helps enrich third party administrator for group medical insurance (TPA) service system, first-tier medical and scientific research achievements that facilitate incubation of a mature healthcare financial market, a comprehensive healthcare and medicine logistic supply service system, and upgrade health care and management service quality and efficiency, according to the Agreement.
The Target, tentatively named FINE C+ Health Technology (Hangzhou) Limited, will be registered in Hangzhou, China with a registered capital of RMB5 million. Yifu will be the largest shareholder in the Target with cash investment, according to the Agreement. Yifu will oversee setting up key strategies, designing structures and introducing external resources for the Target. Jingmu will help build up technology platform, manage consumers, suppliers and supply channels to assist the Target to provide tailor-made solution plans for clients. Smart Cloud will mainly offer AI technology and innovative insurance solution support for the Target.
Mr. Junfeng Wang, Chairman of the Company, commented: "We are thrilled to announce our next joint venture milestone following our previous ventures targeting various aspects of the consumption service field. Teaming up with Smart Cloud and Jingmu allows Roan to advance our strategies that center on big health and big consumption, further strengthen the company's initiatives in financial consumption, cultural and travel consumption and health consumption, and integrate excellent teams, technical systems and platforms.
"Smart Cloud focuses on blockchain, artificial intelligence and medical data security technologies, as well as provides insurance technologies, whereas Jingmu helps break down time, space, culture and language and other barriers with a coverage of top domestic and overseas medical institutions, hospitals, insurance companies and biomedical enterprises, so that patients are able to get timely and accurate treatment."
"The new venture is an important project as part of Roan's overall strategic growth plan and will help consolidate the Company's foundation as Roan tries to expand its healthcare related services business. We believe this ambitious venture will best serve especially our target consumers based overseas and be able to help complete our overarching business jigsaw that targets both domestic and overseas lifestyle consumer sector, generating promising returns for Roan and its shareholders in the foreseeable future."
About Smart Cloud Technology (Beijing) Co., Ltd.
Smart Cloud Technology (Beijing) Co., Ltd. is a service provider specialized in blockchain, artificial intelligence technology and medical data security application solutions. Smart Cloud mainly provides medical data security application solutions, cross-agency data security applications, collaborative management and operation, as well as multi-center intelligent collaborative diagnosis and treatment platform solutions.
About Shanghai Jingmu Information Technology Co. Ltd.
Shanghai Jingmu Information Technology Co. Ltd. focuses on medical consultation services for patients with critical diseases and provides domestic and foreign treatment consultancy and accessible treatment services that are of high-quality and suitable for different treatment levels according to patients' medical conditions, financial conditions and other factors. Jingmu helps break down time, space, culture and language and other barriers, so that patients are able to get timely and accurate treatment.
Jiangmu's services now cover China's top 50 tumor treatment medical institutions, over 10 leading bio-medical firms and more than 100 channels for new drugs that aim to treat tumor related diseases in China. Jingmu cooperates with 40 medical institutions and 12 hospitals in the U.S. and has partnerships with medical institutions and hospitals in India. For more information, please visit: www.nuanyangjk.com/.
About Roan Holdings Group Co., Ltd.
Founded in 2009, Roan Holdings Group Co., Ltd. (OTC Pink: RAHGF and RONWF) is a financial, insurance and healthcare related solutions company serving individuals and micro-, small- and medium-sized enterprises ("MSMEs") in China. Roan provides health management, assets management, and insurance, healthcare and consumer financing services to employees of large institutions. Roan has offices in Hangzhou and Beijing and subsidiaries in Hangzhou, Ningbo, Guangzhou, Shaoxing and Tianjin. For more information, please visit: www.roanholdingsgroup.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, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, the consummation of the proposed transaction, and can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations of the consummation of the proposed transaction, 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. 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. 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 law.
IR Contact:
At the Company:
Katrina Wu
Email: xiaoqing.wu@roanholdingsgroup.com
Phone: +86-571-8662 1775
Investor Relations Firm:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)
View original content:https://www.prnewswire.com/news-releases/roan-holdings-group-announces-agreement-to-set-up-joint-venture-to-expand-in-consumer-health-services-market-301400152.html
SOURCE Roan Holdings Group Co., Ltd.
> Dow Jones Newswires
October 14, 2021 08:00 ET (12:00 GMT)
makinezmoney
3 years ago
$RAHGF: Noboddddddyyyyyyyy knows yet !!!!!!
Too bad......... MEGA steal here under $0.06
GO $RAHGF
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Roan Holdings Group Co. Announces Agreement to Jointly Set Up Consumer Payment Technology Joint Venture to Advance Growth Strategies Targeting Lifestyle Consumer Services Sector
8:00 AM ET 9/30/21 | Dow Jones
BEIJING and HANGZHOU, China, Sept. 30, 2021 /PRNewswire/ -- Roan Holdings Group Co., Ltd. ("Roan" or the "Company") (OTC Pink: RAHGF and RONWF), a provider of diversified solutions in financial, insurance and healthcare related products and management services, today announced that the Company has signed a cooperation agreement (the "Agreement") with Shenzhen Harvest Business Limited Liability Co. ("Harvest"), a leading consumer reward rights and interests system operator in China, to jointly set up a consumer payment technology joint venture (the "Target") that offers lifestyle consumer services including cross-platform clearing and settlement services for consumer reward rights and interests.
Pursuant to the Agreement, the Target will be engaged in offering clearing and settlement solutions for cross-platform consumer reward points via expanding and promoting the clearing and settlement system to financial and insurance institutions such as banks, insurance and securities firms, as well as to major telecom services providers. Roan, with the Company's resources in culture, travel and consumer sectors, will be in charge of the Target's management and setting up key development strategies. Harvest will provide technology support in research and development, technology upgrading, system operation and maintenance for the Target, which will be registered in Hangzhou city, China, with a registered capital of RMB5 million. The two parties will work together to expand the Target's business in China and to overseas markets.
Roan and affiliated partners will hold a 75% stake in the Target via cash investment. Harvest will hold the remaining 25% interest by authorizing exclusive right to use its relevant technology patents and achievements to the Target, according to the Agreement. Harvest is one of the few companies in China that standardize the conversion process for consumer coupons and reward points under different systems and institutions, that recycles 'zombie' consumer reward points, combine payment with cash and consumer credits across diverse platforms, help expand usage of reward points for commercial clients via its core system and payment technologies that have been developed over the past 8 years. Harvest is also one of the few third-party service providers that gains access to China Union Pay's payment ecosystem.
To support the Target's development, the two parties have also agreed that within no more than 12 months, the Target will invest 40% net monthly income in Harvest, to finance for the latter's technology R&D, as per the Agreement.
Mr. Junfeng Wang, Chairman of Roan, commented, "We are excited to launch another JV targeting the lifestyle consumer sector to boost our competitiveness in the sector since we set up business travel service firm, Yijia Travel Digital Technology Co., in July. We continue to advance our strategies providing services for individual consumers and with the support from our partner Harvest, a China leading consumer rights and interests system operator, our new venture will allow us to connect and provide services for hundreds of millions of users. The JV will democratize consumer rewards system and digitalize marketing and consumer traffic for users as well as businesses, large and small.
"Harvest owns core technology and system that combines payment via cash and reward points. This payment solution-based service can be applied in different consumption scenarios that facilitate spending and increase consumer stickiness. So our cooperation with Harvest match perfectly to Roan's overall growth strategies that center on personal and household retail financial consumption, culture and travel consumption, as well as healthcare-related consumer service sectors.
"Roan pivots cross-platform collaboration, technology empowerment, security and tries to combine industrial and financial resources to implement our platform-wide development strategies. To acquire key innovative technologies and systems has always been crucial in our overarching business mapping in culture, travel and healthcare ecosystem."
About Shenzhen Harvest Business Limited Liability Co.
Shenzhen Harvest Business Limited Liability Co. is a leading digital solutions provider of consumer reward rights and interests system in China, offering services for real businesses, institutions, commercial service organizations, as well as providing technology modular design and operation support for consumer rights and interests used as payment substitutes.
Harvest has successively formed in-depth strategic cooperation with BWTON Technology -- a subsidiary of CRRC and China UnionPay, Guolian Securities, Shenzhen Deep Unionpay Eps Financial Services, China Unicom Epay, Shanghai UnionPay, Webank, Hong Kong Shopping Festival Group, Ren Ren Le Group, China Life Insurance, HuaAn Insurance, China Information Technology, Shanghai Lansai Technology and other well-known enterprises. It has developed "dual channel system" and "business service system", the two core technology patents and accumulated rich experience in commercialization with mature technologies. At present, Harvest services cover Suzhou, Wuxi, Changzhou, Shenzhen, Guangzhou, Hong Kong, Hangzhou, Chengdu, Chongqing, Xi 'an and more than 40 other cities across China. For more information, please visit: https://www.365gl.com/.
About Roan Holdings Group Co., Ltd.
Founded in 2009, Roan Holdings Group Co., Ltd. (OTC Pink: RAHGF and RONWF) is a financial, insurance and healthcare related solutions company serving individuals and micro-, small- and medium-sized enterprises ("MSMEs") in China. Roan provides health management, assets management, and insurance, healthcare and consumer financing services to employees of large institutions. Roan has offices in Hangzhou and Beijing and subsidiaries in Hangzhou, Ningbo, Guangzhou, Shaoxing, Urumqi and Tianjin. For more information, please visit: www.roanholdingsgroup.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, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, the consummation of the proposed transaction, and can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations of the consummation of the proposed transaction, 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. 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. 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 law.
IR Contact:
At the Company:
Katrina Wu
Email: xiaoqing.wu@roanholdingsgroup.com
Phone: +86-571-8662 1775
Investor Relations Firm:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)
View original content:https://www.prnewswire.com/news-releases/roan-holdings-group-co-announces-agreement-to-jointly-set-up-consumer-payment-technology-joint-venture-to-advance-growth-strategies-targeting-lifestyle-consumer-services-sector-301388521.html
SOURCE Roan Holdings Group Co., Ltd.
pennypauly
3 years ago
Roan Holdings Group Co., Ltd. Reports Full Year 2020 Financial Results
May 17, 2021 5:21 PM ETPR NewswireRoan Holdings Group Co., Ltd. (RAHGF)
BEIJING and HANGZHOU, China, May 17, 2021 /PRNewswire/ -- Roan Holdings Group Co., Ltd. (RAHGF) ("Roan" or the "Company") (OTC Pink Sheets: RAHGF and RONWF), a financial, insurance and healthcare related solutions company serving individuals and micro-, small-, and medium-sized enterprises in China that also provides health management, asset management, insurance technology, healthcare, and consumer financing services to employees of large institutions, today reported its financial results for the twelve months ended December 31, 2020.
Fiscal Year 2020 Highlights:
Net revenues of services, including revenues from services and healthcare service package net of cost, increased by $1.50 million, or 238%, from $0.63 million for the year ended December 31, 2019 to $2.13 million for the year ended December 31, 2020.
Revenues from services increased by $1.49 million, or 233%, from $0.64 million for the year ended December 31, 2019, to $2.13 million for the year ended December 31, 2020.
Consulting services relating to debt collection reported significant increase of $1.61 million or 327%, due to the Company's consolidation of the full year results of Lixin Financial Holdings Group Limited ("Lixin Cayman") and its subsidiaries (collectively "Lixin") operations in 2020. Roan completed the acquisition of Lixin on December 20, 2019.
For similar reasons, commissions and fees on financial guarantee services increased by $0.37 million, or 4168%, for the year ended December 31, 2020, as compared to the same period of 2019.
Interest expenses and fees on secured loans decreased by $2.22 million, or 100%, from the year ended December 31, 2019 to $Nil for the year ended December 31, 2020, as all secured loans were repaid during the year ended December 31, 2019.
Operating income increased by $5.84 million, or 618%, to $4.90 million for the year ended December 31, 2020, as compared to a net operating loss of $0.95 million during the same period of 2019.
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3 years ago
On March 25, 2021, Ms. Shuangping Feng submitted to the Board her letter of resignation as a member of the Board of Directors (the “Board”) of Roan Holdings Group Co, Ltd. (the “Registrant”). Ms. Feng’s resignation was not the result of any disagreement with the Registrant, the Registrant’s management or the Board.
On April 2, 2021, the Board and the Nominating Committee of the Registrant appointed Mr. Qingliang Yang, age 54, as a member of the Board of Directors, effective immediately. Mr. Yang will serve as an executive director until the expiration or termination of his employment agreement with the Registrant (including any renewals) or until his successor has been duly elected and qualified.
Mr. Yang is the Chief Executive Officer and Executive Director of the China Representative Office of Jinxiang Guinea Mining Group Co., Ltd. and has held that position since March 2016. As the Chief Representative of Jinxiang Guinea Mining Group’s operations in China, he is responsible for the overall planning, management and operations of the company’s business in China. Prior to that role, Mr. Yang had held various senior management positions at major Chinese and international companies and organizations, including serving as the general manager of the China Project Management Office of the World Bank, the Vice-President of the Research Institute of China Communications and Transportation Association, and a director and Executive Vice-President of Shenzhen Civil Aviation Co., Ltd, among others. Mr. Yang holds a Master’s degree in international finance from Fudan University, Shanghai, China.
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