Sino Fortune Holding Corporation (OTCQB: SFHD) ("Sino Fortune" or the "Company"), a leading online financial credit facility solution provider servicing SMEs and individual borrowers in China, today announced the launch of entrusted loan services (the "Services") to the vastly underserved SME and individual borrowers in China. The Company has engaged Qingdao Weichuang Private Capital Management Co., Ltd. as the trustee (the "Trustee") at launch of the Services.
The Company also announced today that it has entered into a series of entrusted loan contracts (the "Entrusted Loan Contracts"), pursuant to which the Company, as the trustor and provider of the funds, entrusted the Trustee to grant entrusted loans in the aggregate principal amount of RMB 50 million (approximately US$7,362,252) to five SME borrowers.
In connection with the execution of the Entrusted Loan Contracts, the Company also entered into entrusted loan guarantee contracts with financing guarantors, pursuant to which the guarantors have agreed to guarantee the obligations under the Entrusted Loan Contracts.
"Today marks an important milestone for our Company as we launch our new entrusted loan services. Leveraging our continuously improving financial condition and years of experience in providing financing solutions to the SME and individual borrowers in China, we believe the new Services allow us not only to maximize returns on our surplus cash but also to expand our scope beyond the existing service of being a matchmaker between investors and borrowers through our online marketplace, www.hyjf.com," said Bodang Liu, Chairman and Chief Executive Officer of Sino Fortune.
Mr. Liu continued, "As China's financial service industry is undergoing a transformative revolution due to technological advances and product innovations, posing both opportunities and challenges for companies like us, we believe continuing expansion of both scale and scope along the financial ecosystem is the only path to our long-term success. We have high hopes for this new line of business."
About Sino Fortune Holding Corporation
Founded in 2013, Sino Fortune Holding Corporation (the "Company") is a leading online financial credit facility solution provider servicing under-served SME and individual borrowers in China. Through operating an electronic online financial platform, www.hyjf.com, the Company matches investors with SME and individual borrowers in China. The Company also sets aside risk reserve funds with the aim of limiting losses to investors from borrower defaults. In addition, the Company provides investors with access to a liquid secondary market, giving them an opportunity to exit their investments before the underlying loans become due. For more information, please visit: ir.hyjf.com.
This press release may contain projections or other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) and are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements.
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