SHANGHAI, Nov. 19, 2019 /PRNewswire/ -- FinVolution Group
formerly known as PPDAI Group Inc ("FinVolution," or the "Company")
(NYSE: PPDF), a leading online consumer finance marketplace in
China, today announced that,
at its 2019 annual general meeting of shareholders held on
5th November, shareholders of the Company adopted the
following resolution as a special resolution proposed by the
Company that the name of the Company be changed from "PPDAI Group
Inc." to "FinVolution Group" and that "信也科技" be adopted as the dual foreign
name of the Company.
In addition, the Company will change its ticker symbol on the New York Stock Exchange from "PPDF"
to "FINV," effective at the start of trading on November 29, 2019. No action is needed from
current shareholders and holders of
American depositary shares ("ADSs)" in relation to the
ticker symbol change.
In connection with the name change and ticker symbol change, the
CUSIP for the Company's American depositary shares has been changed
from 69354V108 to 31810T101.
"We are excited to align our corporate name with our mission
-- To leverage innovative
technology to make financial services better. FinVolution is a
newly created word referring to a finance revolution, which
provides better visibility and insights into our mission with
shareholders and across all our stakeholders," said Mr.
Jun Zhang, Chairman and Co-Chief
Executive Officer of the Company. "As a leader in the
technology-driven consumer finance space, we will maintain focused
on our strategy and deliver shareholder value by expanding our core
business, enhancing our brand recognition and continuing to invest
in technology."
About FinVolution Group
FinVolution is a leading online consumer finance platform in
China connecting underserved
individual borrowers with financial institutions. Established in
2007, the Company is a pioneer in China's online consumer finance industry and
has developed innovative technologies and has accumulated in-depth
experience in the core areas of credit risk assessment, fraud
detection, big data and artificial intelligence. The Company's
platform, empowered by proprietary cutting-edge technologies,
features a highly automated loan transaction process, which enables
a superior user experience. As of September
30, 2019, the Company had over 102 million cumulative
registered users.
For more information, please visit http://ir.ppdai.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. 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 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, uncertainties as to
the Company's ability to attract and retain borrowers and investors
on its marketplace, its ability to increase volume of loans
facilitated through the Company's marketplace, its ability to
introduce new loan products and platform enhancements, its ability
to compete effectively, laws, regulations and governmental policies
relating to the online consumer 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 NYSE, including its ability to cure any non-compliance with the
NYSE'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 FinVolution 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.
For investor and media inquiries, please contact:
In China:
FinVolution Group
Jimmy Tan
Tel: +86 (21) 8030 3200 Ext. 8601
E-mail: ir@ppdai.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: paipaidai@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: paipaidai@tpg-ir.com
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SOURCE PPDAI Group Inc.
