Jiayin Group Inc. Announces Purchase of Commercial Property
Jiayin Group (NASDAQ: JFIN), a leading fintech platform in China, has announced the signing of a definitive agreement on December 17, 2024, to acquire commercial property in Shanghai. The property spans approximately 43,500 square meters and will be purchased for a total cash consideration of approximately RMB1.35 billion. The acquisition, subject to customary closing conditions, is intended to serve as the company's new headquarters to accommodate its continuing business growth.
Jiayin Group (NASDAQ: JFIN), una delle principali piattaforme fintech in Cina, ha annunciato la firma di un accordo definitivo il 17 dicembre 2024, per acquisire immobili commerciali a Shanghai. La proprietà si estende per circa 43.500 metri quadrati e sarà acquistata per un controvalore totale di circa 1,35 miliardi di RMB. L'acquisizione, soggetta alle consuete condizioni di chiusura, è destinata a servire come il nuovo quartier generale dell'azienda per ospitare la sua continua crescita commerciale.
Jiayin Group (NASDAQ: JFIN), una de las principales plataformas fintech en China, ha anunciado la firma de un acuerdo definitivo el 17 de diciembre de 2024, para adquirir propiedad comercial en Shanghai. La propiedad abarca aproximadamente 43,500 metros cuadrados y se comprará por un total de aproximadamente 1.35 mil millones de RMB. La adquisición, sujeta a las condiciones de cierre habituales, está destinada a servir como la nueva sede de la empresa para acomodar su continuo crecimiento empresarial.
자이안 그룹 (NASDAQ: JFIN), 중국의 선도적인 핀테크 플랫폼이 2024년 12월 17일 상하이에 있는 상업용 부동산 인수에 대한 확정 계약을 체결했다고 발표했습니다. 이 부동산은 약 43,500 제곱미터의 면적을 가지며, 총 약 13.5억 위안에 구매할 예정입니다. 인수는 일반적인 종료 조건에 따라 진행되며, 회사의 지속적인 비즈니스 성장을 지원하기 위한 새로운 본사 역할을 할 예정입니다.
Jiayin Group (NASDAQ: JFIN), une plateforme fintech de premier plan en Chine, a annoncé la signature d'un accord définitif le 17 décembre 2024, pour acquérir des biens commerciaux à Shanghai. La propriété s'étend sur environ 43 500 mètres carrés et sera achetée pour un montant total d'environ 1,35 milliard de RMB. Cette acquisition, soumise aux conditions de clôture habituelles, est destinée à servir de nouveau siège social à l'entreprise pour accompagner sa croissance continue.
Jiayin Group (NASDAQ: JFIN), eine führende Fintech-Plattform in China, hat am 17. Dezember 2024 die Unterzeichnung eines endgültigen Vertrags zur Akquisition von Gewerbeimmobilien in Shanghai angekündigt. Die Immobilie umfasst circa 43.500 Quadratmeter und wird für insgesamt etwa 1,35 Milliarden RMB erworben. Die Akquisition, die unter den üblichen Abschlussbedingungen steht, soll als neuer Hauptsitz des Unternehmens dienen, um das stetige Geschäftswachstum zu unterstützen.
- Significant real estate acquisition indicates strong financial position
- Business expansion evidenced by need for larger headquarters
- Strategic investment in prime Shanghai location
- Large cash expenditure of RMB1.35 billion may impact liquidity
- Significant capital allocation to non-core business asset
Insights
The
This strategic move from leasing to ownership suggests strong confidence in the company's future growth trajectory and commitment to the Shanghai market. While the immediate impact includes substantial cash outflow, the long-term benefits include fixed occupancy costs, potential appreciation of the asset and enhanced operational control. The property size suggests significant expansion plans, as it could accommodate thousands of employees.
This property acquisition marks a pivotal shift in Jiayin's capital allocation strategy. The
While this may strain short-term liquidity, owning rather than leasing can provide long-term cost advantages and asset appreciation potential. The transaction signals management's bullish outlook on their business growth and Shanghai's commercial real estate market. However, investors should monitor the impact on the company's financial flexibility and debt levels post-acquisition.
SHANGHAI, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Jiayin Group Inc. (“Jiayin” or the “Company”) (NASDAQ: JFIN), a leading fintech platform in China, today announced that it entered into a definitive agreement on December 17, 2024 to purchase certain commercial property located in Shanghai, China (the “Commercial Property”) of approximately 43,500 square meters for total cash consideration of approximately RMB1.35 billion. The completion of the purchase is subject to customary closing conditions. The Commercial Property will primarily be used as the Company's new headquarters to meet the demand arising from the continuing growth of the Company’s businesses.
About Jiayin Group Inc.
Jiayin Group Inc. is a leading fintech platform in China committed to facilitating effective, transparent, secure and fast connections between underserved individual borrowers and financial institutions. The origin of the business of the Company can be traced back to 2011. The Company operates a highly secure and open platform with a comprehensive risk management system and a proprietary and effective risk assessment model which employs advanced big data analytics and sophisticated algorithms to accurately assess the risk profiles of potential borrowers. For more information, please visit https://ir.jiayintech.cn/.
Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States 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” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements in this press release include, but are not limited to, the completion of the purchase and the future use of the Commercial Property. Forward-looking statements involve inherent risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Potential risks and uncertainties include, but are not limited to, those relating to the Company’s ability to retain existing investors and borrowers and attract new investors and borrowers in an effective and cost-efficient way, the Company’s ability to increase the investment volume and loan facilitation volume of loans facilitated through its marketplace, effectiveness of the Company’s credit assessment model and risk management system, PRC laws and regulations relating to the online individual finance industry in China, general economic conditions in China, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Stock Market or other stock exchange. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by the Company is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F.
For investor and media inquiries, please contact:
Jiayin Group
Mr. Shawn Zhang
Email: ir@jiayinfintech.cn
FAQ
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