WUHAN,
China, April 1, 2022 /PRNewswire/ -- Dunxin
Financial Holdings Limited (NYSE MKT: DXF) ("Dunxin" or the
"Company"), a licensed microfinance lender in Hubei Province, China, today announced that the Company
furthers its plan to explore new opportunities based on Metaverse
related technologies after two-years' research and analysis, since
the announcement of its plan to transition from microfinance to
Metaverse related business in November
2021.
On December 29, 2021, Dunxin
entered into a non-binding Letter of Intent on business cooperation
with Fengniao (International) Network Technology Co., Ltd., a
technology company based in Hong
Kong that is engaged in the development of digital
technology, research and development, production and sales of
servers ("Fengniao"). According to this Letter of Intent, Dunxin
and Fengniao plan to set up a Computing Power Investment Fund with
the total investment amount of RMB1
billion, and an intelligence computing power center in
Hong Kong and other overseas
regions in the next three to five years. In addition, Dunxin and
Fengniao plan to cooperate on setting up data center, distributed
computing network, big data and computing power services. On
January 10, 2022, Dunxin issued a
press release under the heading "Dunxin Financial (DXF.US) Sets Up
Computing Power Investment Fund and Plans of Intelligence Computing
Power Centre based on Metaverse Platform," announcing that Dunxin's
sets up a computing power investment fund and an intelligence
computing power center. However, as of the date of this press
release, the parties are still in the planning stage of the
proposed collaboration.
On January 10, 2022, Dunxin
entered into a non-binding Letter of Intent with Wuhan Shumu Equity
Investment Fund Management Co., Ltd., a block chain game company
("Shumu"), on business cooperation. According to the Letter of
Intent, Dunxin and Shumu plan to cooperate on, among others,the
setup of a digital copyright online trading platform, digitalized
registration, trading and protection of copyrights, block chain and
digital copyrights fund. Related to this cooperation, on
January 20, 2022, Dunxin issued a
press release under the heading "Dunxin Financial Holdings Limited
Forms Partnership with Authorized Digital Copyrights Institution to
Develop Global Digital Copyrights Transaction Platform," announcing
the plan to set up of a digital copyright trading platform,
including proposed structure and investment amounts, among others.
Although the Company has not finalized the specifics of the
platform or the investment amounts due to delay caused by the
resurgence of COVID-19 and extensive lockdown measures across the
country, the Company plans to have further discussions with Shumu
to implement the agreements under the Letter of Intent with
Shumu.
Investors are cautioned that businesses based on Metaverse
related technologies are new to Dunxin, and involve various
uncertainties and a significant degree of risk. The transition of
business from microfinance to Metaverse related industries may not
be successful, may result in disruption to Dunxin's businesses and
lead deteriorating financial condition or operating results.
Dunxin's business and prospects may be affected by many factors,
including without limitation, the development in Metaverse related
technologies, changes in economic conditions in China or globally, and the resurgence of
COVID-19 pandemic. This press release is intended to provide
clarification and updates on Dunxin's recent business development.
Investors are advised not to rely on press releases issued by
Dunxin on January 10, 2022 and
January 20, 2022, respectively.
About Dunxin Financial Holdings Limited
Dunxin is a licensed microfinance lender serving individuals and
SMEs in Hubei Province,
China. Dunxin suspended offering loans to its customers since
2020 and is exploring new business opportunities based on Metaverse
related technologies.
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may, "will, "intend," "should," "believe," "expect," "anticipate,"
"project," "estimate" or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company's expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's goals and strategies; the Company's
future business development; product and service demand and
acceptance; changes in technology; economic conditions; the growth
of market in China and the other
international markets the Company plans to serve; reputation and
brand; the impact of competition and pricing; government
regulations; fluctuations in general economic and business
conditions in China and the
international markets the Company plans to serve and assumptions
underlying or related to any of the foregoing and other risks
contained in reports filed by the Company with the SEC. For these
reasons, among others, investors are cautioned not to place undue
reliance upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
SEC, which are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward–looking
statements to reflect events or circumstances that arise after the
date hereof.
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SOURCE Dunxin Financial Holding Limited