Pintec Develops Supply Chain Financing Solutions for China Dili Group
Pintec Technology Holdings Ltd. (NASDAQ: PT) has partnered with China Dili Group (HKEX: 1387) to enhance supply chain financing solutions. Utilizing its Credit Value Maximizer (CVX) Business Lending Solutions, Pintec aims to digitize China Dili's financing operations. This partnership targets improved efficiency in credit processes, including cost reductions and automation. Pintec's CVX platform has seen global adoption, assisting firms in various countries with their financing needs. The collaboration is expected to bolster competitive advantages for both companies.
- Pintec's CVX Business Lending Solutions enhance efficiency in credit financing for China Dili Group.
- The partnership leverages advanced technology capabilities in machine learning and big data.
- Global adoption of CVX solutions indicates strong market validation and applicability.
- None.
BEIJING, July 15, 2020 (GLOBE NEWSWIRE) -- Pintec Technology Holdings Ltd. (NASDAQ: PT) (“Pintec” or the “Company”), a leading independent fintech solutions provider, today announced the launch of its partnership with China Dili Group (HKEX: 1387), one of the largest agricultural produce wholesale market operators in China. As part of this partnership, PINTEC will leverage its Credit Value Maximizer (“CVX”) Business Lending Solutions to provide China Dili Group with a full suite of supply chain financing solutions. In addition, PINTEC’s ability to leverage its fintech capabilities in the empowerment of brick-and-mortar businesses will enable it to help digitize the supply chain financing operations of China Dili Group.
The Company’s CVX Business Lending Platform assists both financial institutions and commercial enterprises to manage their credit financing processes. By addressing various pain points throughout the credit financing life cycle, including labor costs, approval cycles, and risk controls, the CVX Business Lending Solutions will enable China Dili Group to unify its credit financing business management, standardize its risk control procedures, digitize its data collection systems, and automate its data analysis processes.
Pintec’s CVX Business Lending Solutions have proven to be effective in the efficient management of enterprise credit financing processes. These solutions have been widely adopted by industry players as a result. Currently, businesses in countries, including Australia, Austria, Ireland, and Germany, are actively leveraging Pintec’s CVX Business Lending Solutions to enhance their automotive supply chain financing processes, enterprise credit management systems, and microfinance banking services. Additionally, world-class financial institutions and multinational enterprises, such as Toyota Financial Services, Judo Bank, and the National Australia Bank, have also found success using these solutions.
Mr. Victor Li, executive vice president of Pintec, commented, “We are excited to partner with China Dili Group, one of the largest agricultural produce wholesale market operators in China. Our ability to address our partners’ needs through the development of custom supply chain financing solutions is a direct result of our extensive experience in providing finance-focused services as well as our technology capabilities in machine learning, big data, and cloud computing. By leveraging our industry-leading expertise in these areas, we have been able to develop intelligent solutions that are capable of not only helping our partner institutions to efficiently digitize their businesses, but also bolster their competitive advantages and enhance their customer service quality. We are confident that our strong value proposition will remain attractive to those businesses around the world that are interested in improving their operating efficiencies as well as increasing their business scale and will thus enable us to continue growing our partner base going forward.”
About China Dili Group
China Dili Group is one of the leading operators of agricultural produce wholesale markets in China. It is listed on the Hong Kong Stock Exchange (stock code: HK.01387). The group currently operates 10 wholesale markets in 7 cities, including Harbin, Qiqihar, Mudanjiang, Shenyang, Shouguang, Guiyang and Hangzhou, with gross floor area over 1.50 million sq.m. The principle function of the markets is for the wholesale and retail of agricultural produce, mainly vegetables, fruits, seafood, frozen food, grain, oil and other food produce from China nationwide as well as from other countries in the world.
About Pintec
Pintec is a leading independent technology platform enabling financial services in China. By connecting business and financial partners on its open platform, Pintec enables them to provide financial services to end users efficiently and effectively. The Company offers its partners a full suite of customized solutions, ranging from digital retail lending, digital business lending, RPA, to wealth management and insurance products. Leveraging its scalable and reliable technology infrastructure, Pintec serves a wide range of industry verticals covering online travel, e-commerce, telecommunications, online education, SaaS platforms, financial technology, internet search, and online classifieds and listings, as well as various types of financial partners including banks, brokers, insurance companies, investment funds and trusts, consumer finance companies and other similar institutions. For more information, please visit ir.pintec.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. 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," "target," "confident" and similar statements. Among other things, the quotations from management in this announcement, as well as PINTEC’s strategic and operational plans, contain forward-looking statements. PINTEC may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, 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. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, the Company’s limited operating history, regulatory uncertainties relating to online consumer finance in China, the Company’s reliance on Jimu Group for a significant portion of its funding and the need to further diversify its financial partners, the Company’s reliance on a limited number of business partners, the impact of current or future PRC laws or regulations on wealth management financial products, publicity regarding the consumer finance industry and the evolving regulatory environment governing this industry in China, and the Company's ability to meet the standards necessary to maintain the listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
Investor Relations Contact
Joyce Tang
Pintec Technology Holdings Ltd.
Phone: +1-646-308-1622
E-mail: ir@pintec.com
Jack Wang
ICR Inc.
Phone: +1-646-308-1622
E-mail: pintec@icrinc.com
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