QINGDAO, China, July 20, 2020 /PRNewswire/ -- SOS Limited, (NYSE:
SOS) (formerly China Rapid Finance Limited, the
"Company") announces the approval from shareholders at the
2020 Annual Meeting of Shareholders of the proposal to change the
Company's name to SOS Limited. The Company also announces the
relocation of its headquarters to Qingdao City, Shandong, China.
As previously disclosed, the Company completed its asset
injection with Yong Bao Two Ltd., ("YBT"), the parent
company of SOS Information Technology Co. Ltd. Following
shareholder approval on July 17, the
Company's name has been changed to SOS Limited and the trading
symbol for its ADS changed to "SOS" effective Monday, July 20, 2020. The Company's ADS will
continue to trade on NYSE under the new CUSIP 83587W106.
The relocation is consistent with the Company's strategic plans
to accelerate scale in the hyper-growth category of the emergency
rescue services business. SOS provides marketing related data,
technology and solutions to emergency healthcare services in
China. The Company has accumulated
over 55 million members.
Mr. Yandai Wang, CEO of the Company, said, "Our strategy of organic growth, coupled with
strategic acquisitions, is well underway. The recently signed
cooperation agreement with Qingdao West Coast New District
Management Committee ("Qingdao")
is one of many progress milestones that we are making. We have also
been actively working on strategic acquisitions that are expected
to scale and complement our current customer base. We are ramping
up our go-to-market capabilities to meet this unprecedented demand
from our members."
The Company plans to discuss more about its strategic developments during its
upcoming earnings release and investor call.
About SOS Limited
SOS Limited (NYSE: SOS) is a holding company providing marketing
data, technology and solutions to the emergency rescue services in
China. The Company provides a wide
range of services to its corporate and individual members in
China through its operating
subsidiary, SOS Information Technology Co., Ltd. ("SOS").
SOS also provides various types of membership cards to individual
members in large corporations as part of employee benefits. Its
products include SOS Medical Rescue Card, SOS Auto Rescue Card, SOS
Financial Rescue Card, and SOS Life Rescue Card. SOS utilizes cloud
and other cutting-edge technologies to provide marketing solutions
in a new fashion, including its app based mobile platform, cloud
call centers and large data centers. SOS has contractual service
agreements with major banks, insurance companies, internet
companies, and telecom providers in China.
Forward-Looking Statements
Certain statements made herein are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate," "believe," "expect," "estimate," "plan," "outlook,"
and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include timing
of the proposed transaction; the business plans, objectives,
expectations and intentions of the parties once the transaction is
complete, and XRF's estimated and future results of operations,
business strategies, competitive position, industry environment and
potential growth opportunities. These forward-looking statements
reflect the current analysis of existing information and are
subject to various risks and uncertainties. As a result, caution
must be exercised in relying on forward-looking statements. Due to
known and unknown risks, our actual results may differ materially
from our expectations or projections. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does
not assume a duty to update these forward-looking statements.
Additional information concerning these and other factors that
may impact our expectations and projections can be found in our
periodic filings with the SEC, including our Annual Report on Form
20-F for the fiscal year ended December 31,
2019. XRF's SEC filings are available publicly on the SEC's
website at www.sec.gov. XRF disclaims any obligation to update the
forward-looking statements, whether as a result of new information,
future events or otherwise.
View original
content:http://www.prnewswire.com/news-releases/china-rapid-finance-announces-name-change-to-sos-ltd-and-ticker-change-to-sos-301095991.html
SOURCE China Rapid Finance
