SHANGHAI, Aug. 25, 2020 /PRNewswire/ — FinVolution Group (“FinVolution”, or the “Firm”) (NYSE: FINV), a number one fintech platform in China, as we speak introduced that efficient August 24, 2020, the board of administrators of the Firm (the “Board”) authorized a brand new share repurchase program (the “New Program”) whereby the Firm is allowed to repurchase its personal Class A strange shares within the type of American depositary shares (“ADS”) with an combination value of as much as US$60 million until December 31, 2021.
Mr. Feng Zhang, Chief Govt Officer of FinVolution, mentioned, “FinVolution stays firmly dedicated to shareholder value, and because the preliminary launch in 2018 of our authentic share repurchase program of as much as US$120 million, now we have cumulatively deployed roughly US$111 million to buy the Firm’s ADS as of August 24, 2020. This New Program serves as an growth of our share buyback efforts, bringing the whole cumulative quantity of capital for share repurchase as much as US$180 million. It additional displays our confidence within the Firm’s enterprise operations and outlook, in addition to our agency dedication to producing long-term value for our shareholders.”
About FinVolution Group
FinVolution Group is a number one fintech platform in China connecting underserved particular person debtors with monetary establishments. Established in 2007, the Firm is a pioneer in China’s on-line client finance business and has developed modern applied sciences and has amassed in-depth expertise within the core areas of credit score danger evaluation, fraud detection, large information and synthetic intelligence. The Firm’s platform, empowered by proprietary cutting-edge applied sciences, incorporates a extremely automated loan transaction course of, which allows a superior person expertise. As of June 30, 2020, the Firm had over 110.four million cumulative registered customers.
Protected Harbor Assertion
This press launch incorporates forward-looking statements. These statements represent “forward-looking” statements throughout the which means of Part 21E of the Securities Trade Act of 1934, as amended, and as outlined within the U.S. Personal Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology resembling “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “goal,” “assured” and comparable statements. Such statements are based mostly upon administration’s present expectations and present market and working circumstances and relate to occasions that contain identified or unknown dangers, uncertainties and different elements, all of that are tough to foretell and plenty of of that are past the Firm’s management. Ahead-looking statements contain dangers, uncertainties and different elements that might trigger precise outcomes to vary materially from these contained in any such statements. Potential dangers and uncertainties embody, however are usually not restricted to, uncertainties as to the Firm’s potential to draw and retain debtors and traders on its market, its potential to extend quantity of loans facilitated by means of the Firm’s market, its potential to introduce new loan merchandise and platform enhancements, its potential to compete successfully, legal guidelines, laws and governmental insurance policies regarding the net client finance business in China, basic financial circumstances in China, and the Firm’s potential to satisfy the requirements vital to take care of itemizing of its ADSs on the NYSE, together with its potential to remedy any non-compliance with the NYSE’s continued itemizing standards. Additional info concerning these and different dangers, uncertainties or elements is included within the Firm’s filings with the U.S. Securities and Trade Fee. All info offered on this press launch is as of the date of this press launch, and FinVolution doesn’t undertake any obligation to replace any forward-looking assertion because of new info, future occasions or in any other case, besides as required underneath relevant legislation.
For extra info, please go to https://ir.finvgroup.com
For investor and media inquiries, please contact:
In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan
Tel: +86 (21) 8030 3200- Ext 8601
E-mail: [email protected]
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: [email protected]
In america:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]
SOURCE FinVolution Group
Associated Hyperlinks
https://ir.finvgroup.com/
