BEIJING, Nov. 24, 2017 /PRNewswire/ -- Qudian Inc.
("Qudian" or the "Company") (NYSE: QD), a leading provider of
online small consumer credit products in China, today announced that it has been
informed by Ant Financial that for all transactions effective from
November 30, 2017 on the Alipay
consumer interface, an effective annualized rate of 24%, covering
all interest, fees and charges, will be the maximum rate allowed
for credit services for all third-party service providers. This
includes transactions for Qudian Inc. on leads generated from
Alipay's dedicated channel for third-party service providers (the
"Third-Party Channel") as well as leads generated from Alipay's
public service window (the "Public Service Window").
The Company supports this policy change as it promotes a healthy
environment for credit services offered in China and is committed to complying with this
policy by November 30, 2017. For
transactions made through the Company's mobile applications, the
Company will continue to charge a total fee on credit services that
translates into an effective annualized rate of 36% or less, in
accordance with current PRC laws and regulations on lending
activities.
In the third quarter of 2017, a majority of total credit
drawdowns were made through the Third-Party Channel or the Public
Service Window. The Company has recently begun to implement
measures to promote the use of its mobile applications, and has
observed an increase in transactions carried out under these mobile
applications, where it has the flexibility to price credit services
at an annualized rate of up to 36%. The Company's mobile
applications now rank among the top downloaded application under
the finance category for major app stores in China. The Company is committed to continuing
to implement new strategies to grow its business, evolve to meet
market demand and respond to industry developments.
The Company will continue to commit to industry leading best
practices in service fees charged, collection and user experience
while at the same time embracing changes in the regulatory
environment. The Company expects that these best practices will
continue to strengthen Qudian's brand throughout China's underserved users and attract them to
the Company's platform.
About Qudian Inc.
Qudian is a leading provider of online small consumer credit in
China. The Company uses big
data-enabled technologies, such as artificial intelligence and
machine learning, to transform the consumer finance experience in
China. With the mission to use
technology to make personalized credit accessible, Qudian targets
hundreds of millions of young, mobile-active consumers in
China who need access to small
credit for their discretionary spending, but are underserved by
traditional financial institutions due to lack of traditional
credit data. Qudian's data technology capabilities combined with
its operating efficiencies allow Qudian to understand prospective
borrowers from different behavioral and transactional perspectives,
assess their credit profiles with regard to both their willingness
and ability to repay and offer them instantaneous and affordable
credit products with customized terms, and distinguish Qudian's
business and offerings.
For more information, please visit ir.qudian.com
Safe Harbor Statement
This announcement 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. Among
other things, the expectation of its collection efficiency and
delinquency, contain forward-looking statements. Qudian 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 Qudian's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: Qudian's
goal and strategies; Qudian's expansion plans; Qudian's future
business development, financial condition and results of
operations; Qudian's expectations regarding demand for, and market
acceptance of, its credit products; Qudian's expectations regarding
keeping and strengthening its relationships with borrowers,
institutional funding partners, merchandise suppliers and other
parties it collaborate with; general economic and business
conditions; and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in Qudian's filings with the SEC. All information provided
in this press release and in the attachments is as of the date of
this press release, and Qudian does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
Contacts:
In China:
Investor Relations
Sissi Zhu
Director of Capital Markets
Tel: +86 (10) 5948-5220
E-mail: ir@qudian.com
Media
Binbin Yang
VP, Public Relations
E-mail: pr@qudian.com
The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 5730-6200
E-mail: qudian@tpg-ir.com
In the United
States:
The Piacente Group, Inc.
Alan Wang
Tel: +1-212-481-2050
E-mail: qudian@tpg-ir.com
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SOURCE Qudian Inc.