PINTEC Expands Cooperation with China Telecom Bestpay to Supply Handset Put in Cost Companies to Authorities and Enterprise Clients Nasdaq: PT


BEIJING, June 19, 2020 (GLOBE NEWSWIRE) – Pintec Expertise Holdings Ltd. (NASDAQ: PT) (“PINTEC” or the “Firm”), a number one unbiased fintech options supplier, immediately introduced that it has expanded cooperation with China Telecom Bestpay (“Bestpay”), a a wholly-owned subsidiary of China Telecom Company Restricted (“China Telecom”) and one of many largest cost platforms in China, to offer good cellphone installment cost providers to authorities and enterprise prospects of Bestpay. The corporate began working with Bestpay to broaden its scope of cooperation in March 2020.

Leveraging PINTEC’s technological experience, Bestpay launched its Chengfenqi handset finance product to offer retail prospects with good installment cost providers. The 2 sides determined to develop the Chengfenqi product for presidency staff and huge enterprises, a bunch of consumers typically characterised by above-average credit score high quality. By utilizing the corporate’s good credit score options, Chengfenqi is ready to scale back the price of financing for the focused buyer group and thus allow these prospects to buy handsets which can be inside their credit score vary by funds. staggered.

PINTEC initially established its cooperation with Bestpay in February 2017 to offer technical assist within the growth of Bestpay’s financing merchandise. These merchandise, collectively developed by the 2 events, are at the moment out there in additional than 70,000 China Telecom retail shops in 432 cities in 29 provinces throughout China. In 2019, the financing providers the corporate collectively developed with Bestpay generated a complete mortgage quantity of RMB 513 million.

“As a way to absolutely meet the financing wants of governments and company shoppers of Bestpay, we have now additional refined our service choices and our current product matrix to develop financing options tailor-made to the particular wants of the focused shopper profile. Sooner or later, we plan to proceed to make use of our in depth service expertise and experience in FinTech to offer Bestpay with superior technical assist, ”commented PINTEC.

“Along with our work with China Telecom, we have now additionally established collaborations with China Cell Hebao Funds and China Unicom Wopay to develop world-class good credit score options. As one of many few FinTech firms to serve the three main telecommunications operators in China, our success on this space continues to exhibit our superior service capabilities. As well as, it’s also additional proof of our potential to speed up the event of inclusive finance providers and take away obstacles to finance for customers who’ve historically been underserved within the home market. Seeking to 2020 and past, we stay assured within the promise of this client phase and its potential to drive progress throughout the financial system. “

Protected Harbor Declaration

This press launch comprises forward-looking statements. These statements represent “forward-looking” statements throughout the which means of Part 21E of the Securities Change Act of 1934, as amended, and as outlined within the US Non-public Securities Litigation Reform Act of 1995. These forward-looking statements could also be recognized by such terminology. as “will”, “expects”, “anticipates”, “future”, “hears”, “plans”, “believes”, “believes”, “targets”, “assured” and related statements. Amongst different issues, the administration quotes on this announcement, in addition to PINTEC’s strategic and operational plans, include forward-looking statements. PINTEC may make written or oral forward-looking statements in its periodic reviews to the US Securities and Change Fee, in its annual report back to shareholders, in press releases and different written supplies, and in oral statements made by its officers, administrators or staff to 3rd events. These statements are based mostly on present administration expectations and present market and working situations, and relate to occasions that contain identified or unknown dangers, uncertainties and different components, all of that are troublesome to find out. predict and lots of of that are past the management of society. Ahead-looking statements contain inherent dangers, uncertainties and different components that would trigger precise outcomes to vary materially from these contained in such statements. Potential dangers and uncertainties embody, however usually are not restricted to, the corporate’s restricted working historical past, regulatory uncertainties associated to on-line client credit score in China, the corporate’s dependence on the group Jimu for a good portion of its funding and the necessity to additional diversify its monetary companions. , the dependence of the corporate on a restricted variety of enterprise companions, the impression of present or future legal guidelines or rules of the PRC on monetary wealth administration merchandise, publicity concerning the credit score business consumption and the evolution of the regulatory atmosphere governing this sector in China, and the corporate’s potential to fulfill the requirements crucial to take care of the itemizing of its ADSs on the worldwide Nasdaq market, together with its potential to treatment any failure – compliance with the continual itemizing standards of the Nasdaq. Additional data concerning these and different dangers, uncertainties or components is included within the paperwork filed by the Firm with the US Securities and Change Fee. All data supplied on this press launch is as of the date of this press launch, and the Firm doesn’t undertake any obligation to replace any forward-looking statements on account of new data, future occasions or in any other case, until required by relevant legislation. .

About PINTEC

PINTEC is a number one unbiased expertise platform for monetary providers in China. By connecting enterprise and monetary companions on its open platform, PINTEC allows them to ship monetary providers to finish customers successfully and effectively. The Firm presents its companions a full vary of personalised options, starting from point-of-sale financing, private installment loans and installment loans to companies, to wealth administration and insurance coverage merchandise. Leveraging its scalable and dependable technological infrastructure, PINTEC serves a variety of verticals spanning on-line journey, e-commerce, telecommunications, on-line training, SaaS platforms, monetary expertise, analysis on Web, on-line classifieds and listings, in addition to numerous varieties of monetary companions together with banks, brokers, insurance coverage firms, funding funds and trusts, client finance firms, peer-to-peer platforms and different related establishments. For extra data, please go to ir.pintec.com.

Investor Relations Contact

Joyce Tang
Pintec Expertise Holdings Ltd.
Cellphone: + 1-646-308-1622
E-mail: [email protected]

Jack Wang
ICR Inc.
Cellphone: + 1-646-308-1622
E-mail: [email protected]nc.com

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