SHANGHAI, Dec. 18, 2019 /PRNewswire/ -- China Rapid
Finance Limited (NYSE: XRF) ("XRF" or "the Company"), one of
China's leading fintech companies,
today reported that its Micro Credit Company just received the
approval from the local regulatory annual compliance review.
Several members of the management team plan to buy the Company's
stock during the open trading window, in accordance with applicable
rules and regulations.
Dr. Zane Wang, Founder, Chairman
and Chief Executive Officer of the Company, noted: "When the
regulators are closing marketplace lending platform businesses as a
whole, a licensed micro credit company presents an attractive
alternative for the business. While some micro credit
companies are required to undergo rectification, and some are
forced to close, we are very pleased to receive a clean approval
from the regulator's annual compliance review in our transition
into our new business direction. The management team believes
in the Company's prospects, and some plan to buy the Company's
stock in the open market."
About China Rapid Finance
China Rapid Finance (NYSE: XRF) is a leading fintech company
that offers award-winning decisioning technology and marketing
services that addresses China's
growing consumer credit market. The Company utilizes its
proprietary technology and 18 years of experience to provide its
services. The Company is establishing partnerships and is currently
developing strategic alternatives and new businesses in financial
technology, marketing services and portfolio management. For more
information, please visit http://ir.crfchina.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. 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 "may," "will," "expects," "anticipates,"
"aims," "future," "intends," "plans," "believes," "estimates,"
"likely to" and similar statements. The Company may also make
written or oral forward-looking statements in its reports filed
with, or furnished to, the U.S. Securities and Exchange Commission,
in its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the Company's ability to regain
compliance with NYSE continued listing standards, unexpected
difficulties in the Company's pursuit of its goals and strategies;
the unexpected developments, including slow growth, in the consumer
lending market; reduced demand for, and market acceptance of, the
Company's products and services; difficulties keeping and
strengthening relationships with borrowers or investors;
difficulties of expanding data and channel partnerships,
potentially costly servicing activities; competition in the
consumer lending market; PRC governmental regulations and policies;
and general economic and business conditions in the regions where
the Company provides products and services. Further information
regarding these and other risks is included in the Company's
reports filed with, or furnished to, the Securities and Exchange
Commission. All information provided in this announcement and in
the attachments is as of the date of this announcement, and the
Company undertakes no duty to update such information except as
required under applicable law.
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SOURCE China Rapid Finance
