BEIJING, Aug. 31, 2021 /PRNewswire/ -- Pintec Technology
Holdings Limited (Nasdaq: PT) ("PINTEC" or the "Company"), a
leading independent technology platform enabling financial services
in China, today announced its
decision to expand its technical services to focus on better
empowering the small and medium enterprise ("SME") ecosystem, by
leveraging the Company's advanced technology in big data,
artificial intelligence, and cloud-based infrastructure.
Specifically, the Company plans to utilize its "SaaS + Fintech"
model as a total solution in order to accelerate the digitization
of SMEs, encompassing technology-based credit services and
solutions to the manufacturing process and operations of the
SMEs.
Part of this decision requires strategic review of the Company's
existing operations in order to optimize resource and talent
deployment. As a result, the Company has determined to
restructure certain non-core technical services, which require
long-term investment but may generate negative earnings currently
and in the foreseeable future, by transferring out 85% of its
equity interest in FT Synergy Pte. Ltd. ("FT") at nil consideration
(the "Deconsolidation"). Upon the completion of this
deconsolidation, the financial results of FT will no longer be
included in the Company's consolidated financial statements,
therefore eliminating its negative financial impacts to the
Company. Going forward, the Company will be focused on offering of
comprehensive technology-based credit services and solutions to
SMEs.
As a leading developer for credit services, PINTEC initiated a
technology-based credit assessment system for SMEs as early as
2016. PINTEC's technology-based credit services and solutions
focus on customer acquisition and risk control, and were adopted in
several business aspects, including e-commerce, payment, corporate
finance and taxation. As of the end of 2020, PINTEC's solution
has enabled over 80,000 SMEs in managing their cash flows and
needs.
Mr. Victor Li, Chief Executive
Officer of PINTEC, stated, "Our historical proven track records,
cumulative partnership collaborations, and advanced technology will
enable us to naturally extend our focus on the SME digitization
ecosystem, and to scale our offerings for expanded accessibility.
Our total solution leverages our "SaaS + Fintech" capabilities in
encompassing end-to-end services from manufacturing to
operations, distribution, inventory control, human resources
management, property management, financing, etc. for SMEs of
various industry sectors. Our aim is to significantly enable these
enterprises to enhance their operational efficiency and to reduce
overall financial costs. In addition, we are confident that
the deconsolidation of our loss-making non-core operation can
effectively streamline our overall operations and improve our
financial performance. These decisions and efforts fully
reflect the execution of our strategic initiatives in optimizing
our portfolio offerings, servicing and internalization."
About PINTEC
PINTEC is a leading independent technology platform enabling
financial services in China. By
connecting business and financial partners on its open platform,
PINTEC enables them to provide financial services to end users
efficiently and effectively. The Company offers its partners a full
suite of customized solutions, ranging from digital retail lending,
digital business lending, robotic process automation, to wealth
management and insurance products. Leveraging its scalable and
reliable technology infrastructure, PINTEC serves a wide range of
industry verticals covering online travel, e-commerce,
telecommunications, online education, SaaS platforms, financial
technology, internet search, and online classifieds and listings,
as well as various types of financial partners including banks,
brokers, insurance companies, investment funds and trusts, consumer
finance companies and other similar institutions. For more
information, please visit ir.pintec.com.
Safe Harbor Statement
This press release 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 can
be identified by terminology such as "will," "expects," "is
expected to," "anticipates," "aim," "future," "intends," "plans,"
"believes," "are likely to," "estimates," "may," "should" and
similar expressions, and include, without limitation, quotations
from management and the Company's strategic and operational plans.
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. 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 the Company's control. Forward-looking
statements involve inherent risks, uncertainties and other factors
that could cause actual results to differ materially from those
contained in any such statements. Further information regarding
such risks, uncertainties or factors is included in the Company's
filings with the SEC. All information provided in this press
release is as of the date of this press release, and 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 applicable law.
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SOURCE Pintec Technology Holdings Limited