BEIJING and HANGZHOU, China, July
27, 2021 /PRNewswire/ -- Roan Holdings Group Co., Ltd.
("Roan" or the "Company") (OTC Pink: RAHGF and RONWF), a provider
of diversified solutions in financial, insurance and healthcare
related products and management services, announced today that the
Company has signed an cooperation agreement with a travel service
provider in China, Beijing Auvgo
International Travel Technology Co. Ltd. ("Auvgo International"),
to form a joint venture, Zhejiang Yijia Travel Digital Technology
Co. Ltd. ("Yijia Travel"), in jointly develop business travel
services.
Pursuant to the agreement, each of Roan and Auvgo International
will invest and hold 35% of the equity in the joint venture and
additional investors will make capital contributions for the
remaining 30% equity in the joint venture. Yijia Travel will be
registered in China Hangzhou city with an initial registered
capital of RMB 5 million. Auvgo
International's investment will include the 40% equity interest it
holds in Chongqing Hanglvjia Technology Co. Ltd. and the right to
use technology patents. The Company and the other shareholders will
invest with cash to acquire the remaining 65% stake in the joint
venture.
Roan will form a team to manage and operate Yijia Travel. Auvgo
International will provide technology support and global business
travel product resources. Yijia Travel will be mainly engaged in
the supply of business travel solutions for financial institutions
via expanding cooperation channels with banks, insurance and
securities firms. Yijia Travel will also seek to explore large- and
medium-sized enterprise business travel client base along
China's Yangtze River Delta
region, in the overseas markets and to develop fintech business
travel solutions.
The two parties will also work together on supply chain services
for enterprise clients. Roan will introduce high-credit clients and
Auvgo International will facilitate Roan to gain access to over
4,000 corporate clients and more than 10 million individual users
on Auvgo International's platform to promote the Company's
innovative insurance services. The two parties has also agreed that
Roan would have a pre-emptive right to acquire no more than 10%
stake in Auvgo International through the latter's next round of
financing.
Mr. Junfeng Wang, Chief Executive
Officer of Roan, commented, "We are very pleased to announce our
cooperation with Auvgo International, which is an enterprise in
business travel services in China.
We are looking forward to the cooperation to facilitate growth and
development of both sides, at the same time the cooperation will
further help map out Roan's bank retail consumer finance market
channels, and enable the products and services reach more
individual users. We will also introduce more high-quality products
and services in response to market demand. We hope that our
cooperation will continue to deepen and generate good financial
returns in the future."
Mr Jing Xiang, President of Auvgo
International, said: "We are honored to reach a comprehensive
business cooperation with Roan. Through the uses of the technology
and resources advantages of both companies, we believe we can
achieve a win-win cooperation in the field of business travel
services and provide relevant solutions to jointly explore the
market potential and bring considerable revenue growth for both
sides. We will be fully open to sharing with Roan our existing
client and business networks to support the Company's strategic
development and growth plan."
Beijing Auvgo International Travel Technology Co.
Ltd.
Beijing Auvgo International Travel Technology Co. Ltd., founded
in 2013, is a platform service provider that continuously pays
attention to the diversified needs of institutional clients and
travelers and provides comprehensive solutions for business
commercial travel. Through years of mature TMC service experience,
Auvgo International has built a one-stop business travel SaaS
platform, combining its accumulated capabilities of research and
development, operation and service, and is committed to creating a
good business travel ecology via deep understanding about the
business travel industry, which relies on its good trust
relationship with corporate customers. By taking the opportunity to
build "financial sharing platform" and "health big data platform",
Auvgo International has grown to become a leading brand of business
travel service platform for enterprises. Since its establishment,
the company has provided services for more than 4,000 large and
medium-sized enterprises, covering more than 10 million people.
Auvgo International is headquartered in Beijing, and has more than 20 subsidiary
companies in Shenzhen,
Shanghai, Hunan, Fujian, Chongqing and other places. For more
information, please visit www.auvgo.com.
About Roan Holdings Group Co., Ltd.
Founded in 2009, Roan Holdings Group Co., Ltd. (OTC Pink: RAHGF
and RONWF)is a financial, insurance and healthcare related
solutions company serving individuals and micro-, small- and
medium-sized enterprises ("MSMEs") in China. Roan provides health management, assets
management, and insurance, healthcare and consumer financing
services to employees of large institutions. Roan has offices in
Hangzhou and Beijing and subsidiaries in Hangzhou, Ningbo, Guangzhou, Shaoxing, Urumqi and Tianjin. For more information, please visit:
www.roanholdingsgroup.com
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of 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 relate to,
among others, the consummation of the proposed transaction, and can
be identified by terminology such as "may," "will," "expect,"
"anticipate," "aim," "estimate," "intend," "plan," "believe,"
"potential," "continue," "is/are likely to" or other similar
expressions. Such statements are based upon management's current
expectations of the consummation of the proposed transaction, and
relate to events that involve known or unknown risks, uncertainties
and other factors, all of which are difficult to predict and many
of which are beyond the Company's control. Further information
regarding these and other risks, uncertainties or factors is
included in the Company's filings with the U.S. Securities and
Exchange Commission. The Company does not undertake any obligation
to update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
law.
IR Contact:
At the Company:
Katrina Wu
Email: xiaoqing.wu@roanholdingsgroup.com
Phone: +86-571-8662 1775
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SOURCE Roan Holdings Group Co., Ltd.