Jiayin Group Inc. proclaims the acquisition of sure pursuits in Shanghai Bweenet Community Know-how Co., Ltd. Nasdaq: JFIN
SHANGHAI, China, April 5, 2021 (GLOBE NEWSWIRE) – Jiayin Group Inc. (“Jiayin” or the “Firm”) (NASDAQ: JFIN), a number one fintech platform in China, immediately introduced that the corporate has determined to accumulate 95% stake in Shanghai Bweenet Community Know-how Co., Ltd. (“Shanghai Bweenet”), a restricted legal responsibility firm included within the PRC.
On April 1, 2021, Shanghai Jiayin Finance Know-how Co., Ltd. (“Jiayin Finance”), a totally consolidated variable curiosity entity of the Firm, has entered right into a Grasp Acquisition Settlement (the “SPA”) with Shanghai Bweenet and its shareholders, pursuant to which, Jiayin Finance has agreed, below sure circumstances, to subscribe to sure pursuits of Shanghai Bweenet and to accumulate sure pursuits held by present shareholders of Shanghai Bweenet, for a complete consideration of 95 million RMB. Following the proposed transaction, Jiayin Finance will personal 95% of the shares in Shanghai Bweenet. The consideration can be paid in a number of installments, below sure circumstances. The closing of the proposed transaction is topic to sure customary circumstances, particularly the efficiency of passable due diligence.
Details about Shanghai Bweenet
Shanghai Bweenet is a restricted legal responsibility firm included within the PRC. Shanghai Bweenet is especially engaged within the design of chips specializing in cryptocurrency mining, the design and distribution of cryptocurrency mining tools, and the administration of cryptocurrency mining farms and mining swimming pools. .
The Firm expects the funding in Shanghai Bweenet to supply extra enterprise alternatives for its future enterprise improvement.
About Jiayin Group Inc.
Jiayin Group Inc. is a number one fintech platform in China dedicated to facilitating environment friendly, clear, safe and quick connections between buyers and debtors, whose wants are underserved by conventional monetary establishments. The origin of the corporate’s actions dates again to 2011. The corporate operates a extremely safe and open platform with a complete danger administration system and a proprietary and environment friendly danger evaluation mannequin that employs superior large knowledge analytics and complicated algorithms to precisely assess the danger profiles of potential debtors.
Secure Harbor / Ahead-looking statements
This announcement accommodates forward-looking statements. These statements are made below the “protected harbor” provisions of the US Personal Securities Litigation Reform Act of 1995. These forward-looking statements could also be recognized by phrases reminiscent of “will”, “anticipate”, “anticipate”, “Future,” “intend”, “plan”, “imagine”, “estimate” and related statements. The Firm may make written or oral forward-looking statements in its periodic stories to the SEC, in its annual report back to shareholders, in press releases and different written supplies, and in oral statements made by its officers, administrators or staff to people. third. Statements that aren’t historic details, together with statements concerning the Firm’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties and are based mostly on present expectations, assumptions, estimates and projections for the corporate and the business. Potential dangers and uncertainties embody, however aren’t restricted to, these associated to the flexibility of the Firm to retain present buyers and debtors and to draw new buyers and debtors in an environment friendly and price efficient method, the flexibility of the Firm to extend the quantity of funding and the granting of loans. the quantity of loans facilitated by its market, the effectiveness of the credit score scoring mannequin and the danger administration system of the corporate, the legal guidelines and rules of the PRC referring to the net private finance business in China, the overall financial circumstances in China and the Firm’s skill to satisfy the requirements mandatory to take care of the itemizing of its ADSs on the Nasdaq Inventory Market or different change, together with its skill to treatment any failure to satisfy steady itemizing standards from the Nasdaq Inventory Market. All info supplied on this press launch is as of the date hereof, and the Firm assumes no obligation to replace any forward-looking statements to mirror subsequent occasions or circumstances, or modifications in its expectations, until the legislation requires it. Though the Firm believes that the expectations expressed in these forward-looking statements are affordable, it can not guarantee you that its expectations will show to be right, and buyers are cautioned that precise outcomes might differ materially from anticipated outcomes. Additional info relating to the dangers and uncertainties going through the Firm is included within the paperwork filed by the Firm with the US Securities and Alternate Fee, together with its annual report on Type 20-F.
For extra info please contact:
Ms. Shelley Bai
E-mail: [email protected]
The Blueshirt group
Ms. Susie Wang
E-mail: [email protected]
Within the USA:
Ms. Julia Qian
E-mail: [email protected]