BEIJING, Dec. 26, 2018 /PRNewswire/ -- Hexindai Inc.
(NASDAQ: HX) ("Hexindai" or the "Company"), a fast-growing consumer
lending marketplace in China,
today announced that it has further diversified its funding sources
by partnering with Kunming Aotou Economic Information Consulting
Co., Ltd. ("Kunming Aotou").
According to the agreement, Hexindai will carefully assess
borrowers leveraging its advanced risk management and credit
assessment capabilities before referring them to Kunming Aotou who
will facilitate the loans through a trust fund. An initial
aggregate principal amount of RMB30
million will be distributed. Hexindai will generate service
fee revenues from Kunming Aotou for assisting in the loan
facilitation process including referring and assessing the credit
worthiness of borrowers.
"Our partnership with Kunming Aotou is another significant step
in our strategy to diversify our funding sources with the addition
of institutional investors," said Mr. Xinming Zhou, Chief Executive Officer of
Hexindai. "We are excited to begin working with Kunming Aotou where
we will benefit from our combined credit assessment capabilities
and base of high-quality borrowers. Diversifying funding sources
will further reduce our funding costs and provide us with the
flexibility needed to navigate a challenging market environment. We
look forward to supporting the long-term sustainable development of
consumer finance industry in Southwest
China. We expect this partnership to be the first step in
our efforts to capture the market opportunities created by the
local consumer finance boom and hope to seek more cooperation in
the future."
About Kunming Aotou
Kunming Aotou is an innovative consumer finance solutions
provider. Leveraging its big data analysis capabilities, Aotou
provides integrated financial solutions to financial institutions,
enterprises, and individual customers. Aotou collaborates with over
70 respected large-scale financial institutions including banks,
trust institutions, wealth management companies, and venture
capital firms. Kunming Aotou is the exclusive advisor for a
designated trust of Yunnan International Trust.
About Hexindai Inc.
Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company") is a
fast-growing consumer lending marketplace based in Beijing, China facilitating loans to meet the
increasing consumption demand of the emerging middle class in
China. Hexindai provides borrowers
with convenient and ready access to credit through its online
marketplace. The Company offers borrowers a wide range of products
designed based on customer segmentation data and tailored to the
specific needs of the emerging middle class in China by matching them with investors seeking
various types of investment products with appropriate risk levels
and risk-adjusted returns. Hexindai's strong user acquisition
capabilities combined with an online platform with extensive
offline networks, an advanced risk management system, and strong
strategic cooperative relationships with a custodian bank and an
insurance company to safeguard investments, allows the Company to
generate higher customer satisfaction, reliance, and realize faster
growth in China.
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 visit
http://ir.hexindai.com/
For investor inquiries, please contact:
Hexindai
Investor Relations
Tel: +86-10-5380-6196
Email: ir@hexindai.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Mr. Tip Fleming
Phone: +1-917-412-3333
Email: tfleming@Christensenir.com
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SOURCE Hexindai Inc.