SHENZHEN, China, March 2, 2021 /PRNewswire/ -- X Financial (NYSE:
XYF) (the "Company" or "we"), a leading technology-driven personal
finance company in China, today announced commitment to invest
in an aggregate amount of US$10
million in a VC fund managed by Dragonfly Ventures II, L.P.
("Dragonfly") for blockchain industry investment opportunities.
Dragonfly is a venture capital fund focusing on the blockchain
industry with its long-term value investment strategy and
research-driven process. Dragonfly has made investments in some of
the leading blockchain platforms including Maker, Compound, Celo,
UMA, etc.
The Company believes that this investment can bring an
opportunity of exploring innovative technologies and the potential
for improved profitability in long term, which is in line with the
Company's business strategies.
About X Financial
X Financial (NYSE: XYF) (the "Company") is a leading
technology-driven personal finance company in China focused on meeting the huge demand for
credit from individuals and small-to-medium-sized enterprise
owners. The Company's proprietary big data-driven risk control
system, WinSAFE, builds risk profiles of prospective borrowers
using a variety data-driven credit assessment methodology to
accurately evaluate a borrower's value, payment capability, payment
attitude and overall creditworthiness. X Financial has established
a strategic partnership with ZhongAn Online P&C Insurance
Co., Ltd. in multiple areas of its business operations to
directly complement its cutting-edge risk management and credit
assessment capabilities. ZhongAn Online P&C Insurance
Co., Ltd. provides credit insurance on X Financial's
investment products which significantly enhances investor
confidence and allows the Company to attract a diversified and
low-cost funding base from individuals, enterprises and financial
institutions to support its growth. X Financial leverages financial
technology to provide convenient, efficient, and secure investment
services to a wide range of high-quality borrowers and mass
affluent investors which complements traditional financial
institutions and helps to promote the development of inclusive
finance in China.
For more information, please
visit: http://ir.xiaoyinggroup.com.
Safe Harbor Statements
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 investor and media inquiries, please contact:
X Financial
Mr. Frank Fuya Zheng
Email: ir@xiaoying.com
Christensen
In China
Mr. Eric Yuan
Phone: +86-10- 5900-1548
E-mail: Eyuan@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
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SOURCE X Financial