BEIJING, June 19, 2020 (GLOBE NEWSWIRE) – Pintec Expertise Holdings Ltd. (NASDAQ: PT) (“PINTEC” or the “Firm”), a number one unbiased fintech options supplier, at present 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 fee platforms in China, to supply sensible telephone installment fee providers to authorities and enterprise prospects of Bestpay. The corporate began working with Bestpay to develop its scope of cooperation in March 2020.

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

PINTEC initially established its cooperation with Bestpay in February 2017 to supply 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.

“To be able to totally meet the financing wants of governments and company shoppers of Bestpay, we’ve got additional refined our service choices and our current product matrix to develop financing options tailor-made to the particular wants of the focused consumer profile. Sooner or later, we plan to proceed to make use of our intensive service expertise and experience in FinTech to supply Bestpay with superior technical assist, ”commented PINTEC.

“Along with our work with China Telecom, we’ve got additionally established collaborations with China Cell Hebao Funds and China Unicom Wopay to develop world-class sensible credit score options. As one of many few FinTech corporations to serve the three main telecommunications operators in China, our success on this space continues to exhibit our superior service capabilities. As well as, additionally it is additional proof of our skill 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 section and its potential to drive development throughout the economic system. “

Protected Harbor Declaration

This press launch incorporates forward-looking statements. These statements represent “forward-looking” statements throughout the that 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, comprise forward-looking statements. PINTEC might also make written or oral forward-looking statements in its periodic experiences 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 workers to 3rd events. These statements are based mostly on present administration expectations and present market and working circumstances, and relate to occasions that contain recognized or unknown dangers, uncertainties and different components, all of that are tough 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 might trigger precise outcomes to vary materially from these contained in such statements. Potential dangers and uncertainties embody, however will not be 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 influence 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 surroundings governing this sector in China, and the corporate’s skill to satisfy the requirements mandatory to take care of the itemizing of its ADSs on the worldwide Nasdaq market, together with its skill 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 USA Securities and Change Fee. All data offered 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, except required by relevant legislation. .

About PINTEC

PINTEC is a number one unbiased know-how 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 affords its companions a full vary of customized 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 know-how infrastructure, PINTEC serves a variety of verticals spanning on-line journey, e-commerce, telecommunications, on-line schooling, SaaS platforms, monetary know-how, analysis on Web, on-line classifieds and listings, in addition to varied sorts of monetary companions together with banks, brokers, insurance coverage corporations, funding funds and trusts, client finance corporations, 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.
Telephone: + 1-646-308-1622
E mail: [email protected]

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

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John R.

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