BEIJING and URUMQI, China, May 21, 2018 /PRNewswire/ -- China Lending Corporation ("China Lending" or the "Company") (Nasdaq: CLDC), a leading non-bank direct lending corporation servicing micro, small and medium-sized enterprises ("MSMEs"), currently underserved by commercial banks in China, today announced the expansion of its service offerings with the launch of its financial leasing services. The financial leasing services will be operated through its two wholly-owned subsidiaries Xinjiang Xin Quan Financial Leasing Co. Ltd. and Ningbo Ding Tai Financial Leasing Co. Ltd., which are registered in Khorgas Boarder of Xinjiang Uygur Autonomous Region, and Ningbo of Zhejiang Province, respectively. Both subsidiaries will benefit from a corporate income tax exemption for their initial five years, and half exemption for following five years.
Through the two financial leasing subsidiaries, the Company will provide MSMEs with customized financial leasing solutions in the industries, including manufacturing, agriculture, environmental, energy, healthcare and public transportation. These industries have favorable investment and technology projects, but are in need of funds for the equipment and technology.
Ms. Jingping Li, Chairwoman and Chief Executive Officer of China Lending, said, "Driven by the economic restructuring and supply-side structural reform implemented by the Chinese government, financial leasing services has seen rapid growth in recent years in China as more and more companies, including both buyers and sellers, rely on financial leasing services to implement scalable projects or businesses. According to Research and Markets, the world's largest market research agency, there were 8,218 financial leasing enterprises in China conducting transactions valued at RMB 5.6 trillion as of June 2017."
Ms. Li continued, "We are committed to developing profitable financial leasing services operating in multiple industry verticals, leveraging our strong track record of helping SMEs through our existing direct lending business. We firmly believe that we can capture our fair share of the fast-growing financial leasing services market in the coming years."
About China Lending Corporation
Founded in 2009, China Lending is a non-bank direct lending corporation and provides services to micro, small and medium sized enterprises, farmers, and individuals, who are currently underserved by commercial banks in China. Headquartered in Urumqi, the capital of Xinjiang Autonomous Region, with a registered capital of $94.7 million as of December 31, 2016, China Lending is one of the largest direct lending companies in the region in terms of registered capital. For more information, please visit: www.chinalending.com.
This press release may include forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that China Lending expects or anticipates will or may occur in the future are forward-looking statements and are identified with, but not limited to, words such as "may," "believe" and "expect." These statements are based on certain assumptions and analyses made by China Lending in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. Actual results may differ materially from those expressed herein due to many factors such as, but not limited to, (1) the ability to obtain or maintain the listing of the Company's securities on the NASDAQ Capital Market; (2) the ability to recognize the anticipated benefits of recent business combination, which may be affected by, among other things, competition and the ability of the business to grow and manage growth profitably; (3) the outcome of any legal proceedings that may be instituted against the Company; (4) changes in applicable laws or regulations; (5) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and (6) other risks and uncertainties indicated from time to time in the proxy statement filed by the Company in connection with the business combination, including those under "Risk Factors" therein, and other factors identified in the Company's prior and future filings with the SEC, available at www.sec.gov.
These forward-looking statements are based on information available as of the date of this press release and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date and the Company undertakes no obligation to update any forward-looking statements contained herein to reflect events or circumstances which arise after the date of this press release, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.
For investors and media inquiries please contact:
At the Company:
Tony Tian, CFA
Weitian Group LLC
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