BEIJING, March 27,
2025 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD)
("Yiren Digital"), an AI-powered platform providing a comprehensive
suite of financial and lifestyle services in China, today announced the formation of a
strategic joint venture (the "JV") with PT. Pinjaman Kemakmuran
Rakyat ("klikUMKM") and PT. Artha Digital Investama, member of
Artha Graha Network (altogether "AG Network"). AG
Network is a leading Indonesian conglomerate with businesses in
finance, retail, agriculture, telecommunications, and
manufacturing. The partnership combines Yiren Digital's
cutting-edge financial technology expertise and AG Network's deep
local market knowledge to develop innovative digital solutions,
addressing the growing demand for accessible financial services and
inclusive finance in Southeast
Asia's largest economy.
Under the collaboration, Yiren Digital will integrate its
AI-driven capabilities and proprietary technologies into the JV's
operations, including advanced risk management algorithms,
automated customer service platforms, and data-driven marketing
solutions. The technological foundation will enable the platform to
scale efficiently and deliver secure, customer-centric financial
services tailored to the Indonesian market.
The JV will also capitalize on AG Network's established local
market presence and regulatory expertise, which includes compliance
with local regulatory requirements and a nuanced understanding of
domestic market dynamics. AG Network's
support is expected to expedite regulatory approvals and
ensure swift market entry for the JV.
The JV is expected to commence operation in the second half of 2025.
Beyond the JV, the partnership aims to explore additional
technology collaborations, supporting AG Network's broader digital
transformation initiatives across its diverse business
portfolio.
Mr. Ning Tang, Chairman and CEO of Yiren Digital,
commented: "The partnership with AG Network marks a significant
milestone in our international expansion strategy. It underscores
our AI capabilities in credit financing and our ability to deploy
these technologies at scale. I am confident that this collaboration
will drive financial and technological innovation in Indonesia's market of 281 million people,
fostering greater financial inclusion."
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "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," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. 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 Yiren Digital's control.
Forward-looking statements involve risks, uncertainties, and other
factors that could cause actual results to differ materially from
those contained in any such statements. Potential risks and
uncertainties include, but are not limited to, uncertainties as to
Yiren Digital's ability to attract and retain borrowers and
investors on its marketplace, its ability to introduce new loan
products and platform enhancements, its ability to compete
effectively, PRC regulations and policies relating to the
peer-to-peer lending service industry in China, general
economic conditions in China, and Yiren Digital's ability to
meet the standards necessary to maintain the listing of its ADSs on
the NYSE or other stock exchange, including its ability to cure any
non-compliance with the NYSE's continued listing criteria. Further
information regarding these and other risks, uncertainties or
factors is included in Yiren Digital's filings with the U.S.
Securities and Exchange Commission. All information provided in
this press release is as of the date of this press release, and
Yiren Digital 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.
About Yiren Digital
Yiren Digital Ltd. is an advanced, AI-powered platform providing
a comprehensive suite of financial and lifestyle services
in China. Our mission is to elevate customers' financial
well-being and enhance their quality of life by delivering digital
financial services, tailor-made insurance solutions, and premium
lifestyle services. We support clients at various growth stages,
addressing financing needs arising from consumption and production
activities, while aiming to augment the overall well-being and
security of individuals, families, and businesses.
About Artha Graha Network
Headquartered in South Jakarta, Artha Graha Network is a
leading Indonesian conglomerate with business spanning financial
services, real estate development, retail management, agriculture
and telecommunication. Artha Graha Network provides innovative,
sustainable finance solutions and banking services, driven by
digital innovation and a commitment to financial inclusion.
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SOURCE Yiren Digital
