BEIJING, Jan. 11, 2019 /PRNewswire/ -- Hexindai Inc.
(NASDAQ: HX) ("Hexindai" or the "Company"), a fast-growing consumer
lending marketplace in China,
today announced that it has established a partnership with Bohai
International Trust Co. Ltd. ("Bohai International Trust"), a
leading trust company in China, as
part of its strategy to diversify and expand its funding sources
from individuals to institutional investors.
Under the terms of the agreement, Bohai International Trust will
facilitate personal credit loans through a designated trust for an
initial aggregate principal amount of RMB300
million to borrowers referred by Hexindai. The initial term
of the agreement is five years. Hexindai will carefully evaluate
borrowers using its advanced risk management and credit assessment
capabilities before referring them to Bohai International Trust who
will conduct a second credit assessment before funds are
distributed. Hexindai will receive service fee revenues from Bohai
International Trust for borrower referral, credit assessment
services, and assistance in the loan facilitation process.
"Our partnership with Bohai International Trust is a 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 Bohai International
Trust to realize major strategic business synergies by leveraging
our combined credit assessment capabilities to target our core
demographic of borrowers, those seeking medium-sized consumer
credit loans with loan terms of 36 months. To further strengthen
deterrence against fraud and defaults, all defaulters will be
reported to the Credit Reference Center of the People's Bank of
China, which operates and
maintains a database of personal credit reports. With a diversified
funding structure and reduced funding costs, we will have greater
corporate flexibility to weather fluctuations in the market and
better serve our customers."
About Bohai International Trust
Founded in 1983 and based in Shijiazhuang, Hebei
Province, Bohai International Trust is the only non-bank
financial institution focused on the trust business in the
province. Bohai International Trust's business covers fund trusts,
chattel trusts, real estate trusts, securities trusts, property
trusts, investment funds, enterprise asset restructuring, M&A
and project financing, wealth management, and financial consulting
across a variety of industries including real estate, commerce, and
financial services.
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.