BEIJING, June 27,
2023 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD)
("Yiren Digital" or the "Company"), a leading digital personal
financial management platform in China, today announced that it had entered
into an equity transfer agreement (the "Agreement") to acquire 100%
equity interest in Chongqing Jintong Financing Guarantee Co., Ltd.
("Chongqing Jintong"), a licensed financing guarantee company in
China, for a total cash
consideration of RMB204.9 million.
The closing of the transaction is subject to conditions that are
customary for transactions of this type and is currently expected
to occur in July 2023.
Chongqing Jintong was established in 2007 in China with a registered capital of
RMB200.0 million. It primarily
operates financing guarantee business and provides relevant
financing advisory services. Following the acquisition of Chongqing
Jintong, the Company will be able to provide financing guarantee
services through Chongqing Jintong, which will help expand its loan
facilitation business in China,
optimize its service offerings and accelerate the pace of its
business development.
About Yiren Digital
Yiren Digital Ltd. is a leading digital personal financial
management platform in China. The
Company provides customized, asset allocation-based holistic wealth
solutions to China's mass affluent
population as well as provides retail credit facilitation services
to individual borrowers and small business owners.
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 Yiren Digital'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
Yiren Digital's ability to attract and retain borrowers and
investors on its marketplace, its ability to introduce new loan
products and platform enhancements, its ability to compete
effectively, PRC regulations and policies relating to the
peer-to-peer lending service industry in China, general economic conditions in
China, and Yiren Digital's ability
to meet the standards necessary to maintain listing of its ADSs on
the NYSE or other stock exchange, 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 Yiren Digital'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
Yiren Digital 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.
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SOURCE Yiren Digital