Sino Fortune Holding Corporation (OTCQB: SFHD) ("Sino Fortune" or the "Company"), a leading online financial credit facility solution provider servicing SME and individual borrowers in China, today announced that Puhui Equity Investment Co., Ltd. ("Puhui"), a wholly owned subsidiary of the Company's variable interest entity -- Benefactum Alliance Business Consultant (Beijing) Co., Ltd., entered into a definitive share transfer agreement (the "Agreement") on September 1, 2017 to acquire a 4.45% equity interest in Shenzhen TouZhiJia Financial Information Service Co., Ltd. ("TouZhiJia") from certain selling shareholders for an aggregate purchase price of RMB19,100,008 (approximately US$2.8 million). Fifty percent (50%) of the purchase price has been paid by the Company upon the execution of a framework agreement dated June 14, 2017 (see FORM 8-K filed with the SEC on June 20, 2017). The balance of the purchase price is payable upon the closing of the transaction.
About Shenzhen TouZhiJia Financial Information Service Co., Ltd.
Shenzhen TouZhiJia Financial Information Service Co., Ltd. ("TouZhiJia") operates a P2P online lending and vertical search platform, www.touzhijia.com, which caters to investors by providing professional and P2P services designed to make investment and financing safer and more efficient. TouZhiJia's main businesses include vertical P2P search engine, private wealth management, and secondary loan exchange services. Since its inception in September 2014, the TouZhiJia platform has accumulated 2.74 million registered users and facilitated 1.98 million transactions with aggregate transaction value of more than RMB 15.63 billion (approximately US$2.30 billion). TouZhiJia is an affiliate of Yingcan Group.
About Sino Fortune Holding Corporation
Founded in 2013, Sino Fortune Holding Corporation ("Sino Fortune") 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). 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.
Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
For investors and media inquiries please contact:
At the Company:
Tony Tian, CFA
Weitian Group LLC