BEIJING, May 3, 2018 /PRNewswire/ -- China Internet
Nationwide Financial Services Inc. (NASDAQ: CIFS) ("CIFS" or the
"Company"), a leading financial advisory services company, today
announced that Fu Hui (Shenzhen)
Commercial Factoring Co., Ltd. ("Fu Hui"), a wholly owned
subsidiary of the Company, signed a revolving factoring credit
facility (the "Facility") agreement with Sino Pharma Business
Factoring Co., Ltd. ('Sino Pharma BF"), one of the leading
factoring services providers serving the healthcare industry and a
subsidiary of China National Pharmaceutical Group Corporation
("Sino Pharma") . The Facility has a one-year term with the option
for multiple-year extensions and allows Sino Pharma BF to receive a
RMB 100 million (approximately
$15.7 million) revolving factoring
credit line from CIFS. The Facility is backed by accounts
receivable from Grade A hospitals with Class II or above
rankings.
Mr. Jianxin Lin, Chairman and
Chief Executive Officer of CIFS, commented, "We are excited about
the opportunity to team up with Sino Pharma BF to advance our
supply chain financing business which we launched in October 2017 and view as one of strategic
priorities. We look forward to this relationship to bear fruit and
contribute significantly to our financial performance in 2018 and
beyond."
About Sino Pharma Business Factoring Co., Ltd.
Established in February 2015 as a
joint venture between two leading state-owned enterprises –Sino
Pharma and China Life, Sino Pharma Business Factoring Co., Ltd.
("Sino Pharma BF") provides business factoring and supply chain
financing solutions primarily in the health care industry.
About China Internet Nationwide Financial Services
Inc.
Incorporated in 2014 and headquartered in Beijing, China Internet Nationwide Financial
Services Inc. provides financial advisory services, including
commercial payment advisory, intermediary bank loan advisory, and
international corporate financing advisory, to meet the financing
and capital needs of its clients, comprised largely of
small-to-medium sized enterprises. Beijing Anytrust Science &
Technology Co., Ltd. ("Anytrust") is a wholly owned subsidiary of
CIFS focusing on providing data infrastructure design, big data
access and analytics, and document automation for enterprises and
government agencies in China. For
more information about the CIFS and Anytrust, please visit
www.cifsp.com or www.anytrust.cn.
Forward Looking Statements
This news release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. 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. All statements other than statements of historical fact
in this press release are forward-looking statements and involve
certain risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
These forward-looking statements are based on management's current
expectations, assumptions, estimates and projections about the
Company and the industry in which the Company operates, but involve
a number of unknown risks and uncertainties, Further information
regarding these and other risks is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary
statements.
INVESTOR RELATIONS:
China Internet Nationwide Financial Services Inc.
Email: ir@cifsp.com
Phone: +86 10 8587 8166
Tony Tian, CFA
Weitian Group LLC
Email: tony.tian@weitian-ir.com
Phone: +1 732 910 9692
View original
content:http://www.prnewswire.com/news-releases/china-internet-nationwide-financial-services-inc-grants-rmb-100-million-revolving-factoring-credit-to-sino-pharma-business-factoring-co-ltd-300642030.html
SOURCE China Internet Nationwide Financial Services Inc.