Strategy sets the stage for continuing expansion and growth;
2018 to be transitional
BEIJING, July 10, 2018 /PRNewswire/ -- China Internet
Nationwide Financial Services Inc. (NASDAQ: CIFS) ("CIFS" or the
"Company"), a financial advisory services provider and financial
technology company today provided an update on its recent business
developments, new business opportunities and growth initiatives for
2018 and beyond, which was previously announced at its Fintech GO
2018 conference held at the Park Hyatt Hotel in Beijing on June 28,
2018. Over 500 professionals joined this conference.
Conference details are available at
http://cifsp.com/portal/index/investview/pid/5/id/102/t/1530872731/lang/2/stype/1531131931.html/p/1.
While 2017 was a year of growth and expansion (revenue and net
income increased by 59% and 73%, respectively as compared to 2016),
2018 is expected to be a transitional year for the
Company. The Company has now moved onto the next phase of its
growth and expects its financial technology ("FinTech") products to
gradually become the catalyst for future growth.
At the Fintech GO 2018 conference, the Company's management
discussed its potential markets and FinTech technologies. Since the
acquisition of AnyTrust in November last year, the Company has
invested in new technologies and talented IT professionals to
support the development of its FinTech products and
services. The Company is expecting to transition from a
traditional financial service provider to a FinTech company
supported by following:
(i) Supply Chain Financing Services
(Factoring): Launched in October
2017, the Company's factoring business aims to provide
supply chain financing solutions to SMEs - with an initial focus on
the pharmaceutical (medical supplies and equipment) sector by
reducing financing costs and improving operational efficiency.
Since then, the Company has signed several agreements, including a
RBM 100 million (approximately $15.7 million) revolving
factoring credit agreement with Sino Pharma Business Factoring Co.,
Ltd, one of China's leading
factoring services providers serving the healthcare industry,
backed by accounts receivable from Grade A hospitals with Class II
or above rankings. This new business line is expected to be a
significant contributor to the Company's 2018 financial
performance, and will account for at least 25% of total revenue.
For more details about factoring business, please visit:
http://cifsp.com/portal/index/invest/pid/1/lang/2/stype/153.html.
(ii) AnyTrust: In November
2017, the Company acquired Beijing AnyTrust Science & Technology Co., Ltd
("AnyTrust"), a big data company focusing on providing data
infrastructure design, big data access and analytics, and document
automation for enterprises and government agencies in China.
In early 2018, the Company launched the beta version of AnyInfo, a
vertical search engine and big data platform covering a broad range
of publicly available data for over 28 million enterprises in
China, which is now available for
Windows and Android users at www.anyinfo.cn. For more details about
Anytrust's products and technologies, please visit:
http://www.anytrust.cn/.
(iii) Intelligent Research Platform ("IRP"):
Launched in April 2018, IRP provides
intelligent financial products and services to financial
institutions such as banks, insurance and asset management firms
and investment funds in China. IRP
uses big data, cloud computing, artificial intelligence,
blockchain, machine learning,
natural language processing etc., to develop its intelligent
investment research platform. IRP's beta version is presently
offered as a trial to certain of the Company's target clients. To
learn more about InTruth and IRP, please visit http:
http://cifsp.com/portal/index/invest/pid/1/lang/2/stype/153.html.
In addition to the above, the Company is pursuing a two-fold
growth strategy:
- Expand legacy / higher margin financial advisory
services (commercial payment advisory services, international
corporate financing advisory services, and intermediary bank loan
advisory services) by targeting new clients in China and expanding its geographical coverage
through innovative product offerings.
- Focus on its FinTech Initiative through the
development of its big data platform by offering data access,
analytics, artificial intelligence, machine learning, and
intelligent investment research to clients such as SMEs,
state-owned enterprises, financial institutions and
individuals.
Mr. Jianxin Lin, Chairman and
Chief Executive Officer of CIFS noted, "Within a very short period
we have been able to expand our breadth of products and
services. We are extremely proud of our achievements. We
believe that we have positioned the company well to take advantage
of substantial opportunities in the FinTech sector and successfully
execute our growth strategy. We look forward to reporting our
progress in the coming months."
For more information contact:
Investor
Relations
China Internet
Nationwide Financial Services, Inc.
ir@cifsp.com
+1 212
200-6998
|
Investor Relations
Service (US)
Lena Cati:
ir.us@cifsp.com
+1 212
836-9611
|
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.
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SOURCE China Internet Nationwide Financial Services Inc.