ZUOLI KECHUANG MICRO-FINANCE COMPANY LIMITED
Zuoli Micro-finance obtained approval to lend to online retailers nationwide – Commence online finance business, Expand revenue base and geographic coverage
For immediate release Zuoli Micro-finance obtained approval to lend to online retailers nationwide (16 April 2015, Hong Kong) Zuoli Kechuang Micro-finance Company Limited (“Zuoli Micro-finance” or the “Company”; SEHK stock code: 6866), the largest licensed microfinance company in Zhejiang*, is pleased to announce that the Company has obtained approval from the Financial Work Office of the People’s Government of Zhejiang Province (浙江省人民政府金融工作辦公室) to cooperate with online micro e-commerce money lending platforms. Pursuant to which, the Company may grant loans not exceeding RMB500,000 to any of online retailers nationwide, with annualized interest rate not exceeding 15%. Loans to online e-commerce retailers in aggregate shall represent not more than 30% of the Company’s funding available for the granting of loans. Mr. Yu Yin, Chairman of Zuoli Micro-finance said, “The cooperation signifies Zuoli Micro-finance’s official commencement in online finance business, which will diversify the Company’s sources of revenue. By providing loan service to online retailers throughout the country, the Company will lift its current geographical limitation in Huzhou and reduce reliance on the local market. As a pilot company in Zhejiang’s micro-finance industry, Zuoli Micro-finance takes the lead to introduce innovation to business, which marks a milestone for the Company. This move also demonstrates the management’s efforts following the Company’s public listing, in expanding its business scope and enhancing operational performance with an aim to achieve better returns to shareholders.” * In terms of registered capital as of 30 June 2014 – End – About Zuoli Micro-finance End of Press Release +++++ Document: http://n.equitystory.com/c/fncls.ssp?u=EJRSBUCHOM Document title: Zuoli Micro-finance obtained approval to lend to online retailers nationwide – Commence online finance business, Expand revenue base and geographic coverage Key word(s): Miscellaneous 28/04/2015 UTC+8 Dissemination of a Press Release, transmitted by EQS TodayIR – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com |
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