PINTEC Announces Changes to Management and Board of Directors
August 03 2020 - 7:00AM
Pintec Technology Holdings Limited (Nasdaq: PT) (“PINTEC” or the
“Company”), a leading independent technology platform enabling
financial services in China, today announced the appointment of Dr.
Victor Huike Li as chief executive officer and director of the
Company, effective immediately. Mr. Wei Wei, who has been on a
medical leave of absence since September 2019, has tendered his
resignation as the Company’s chief executive officer for health
reasons, and Mr. Jun Dong has resigned from his position as
PINTEC’s acting chief executive officer as a result of Dr. Li’s
appointment. Both Mr. Wei and Mr. Dong will continue to serve on
the board of directors of the Company (the “Board”) following their
resignations from the Company’s management. In addition, Ms.
Xiaomei Peng has resigned from the Board due to personal reasons.
Dr. Victor Huike Li is a serial entrepreneur and
IT industry veteran, with more than 20 years of experience in
building and commercializing cutting-edge technologies. Dr. Li has
held multiple senior executive positions in both China and
Australia, accumulating a comprehensive set of industry experiences
in such areas as R&D, consulting, business development, and
management. Dr. Li was the founder and CEO of VanceInfo
Technologies Australia Inc., wherein he established the first
China-based IT services firm in Australia and drove its expansion
across the Asia-Pacific region. Dr. Li was also the co-founder of
InfraRisk, a leading supplier of credit management solutions in
Australia. Dr. Li joined PINTEC in 2019 subsequent to the
acquisition of InfraRisk. After joining the Company, Dr. Li first
served as head of international business and then as executive vice
president for the Company prior to his current roles. Dr. Li holds
a Ph.D. in Computer Science from the University of Melbourne as
well as a master’s and bachelor’s degree in Electrical Engineering
from the Beijing Institute of Technology.
The Board would like to express its thanks to
Mr. Wei and Ms. Peng for their contributions, efforts, and
dedication over the years. Mr. Wei’s outstanding leadership in the
face of marketplace challenges was particularly inspiring, and the
Board wishes him a speedy recovery. While serving as the head of
the Company’s international business, Dr. Li has demonstrated
unparalleled efficiency in spearheading the Company’s global
expansion initiatives. With Dr. Li at the helm of the Company and a
team of seasoned industry professionals by his side, PINTEC is
well-positioned to further optimize its fintech solution offerings
and expand its market leadership going forward. The Board would
also like to thank Mr. Dong for serving as acting chief executive
officer after Mr. Wei went on leave. The Board looks forward to
continue working with Mr. Dong and Mr. Wei as both continue to
occupy roles on the Board and remains confident in the Company’s
ability to overcome the current short-term market challenges.
Dr. Victor Huike Li, chief executive officer and
director of PINTEC, commented, “We are grateful for Mr. Wei’s and
Mr. Dong's contributions to PINTEC in the past as both have helped
us to navigate a challenging market environment as well as lay a
solid foundation for the future development of the Company. All of
our major business lines are currently on track to grow revenues
and reach profitability. With the recent establishment of multiple
partnerships, I am fully confident in the Company’s present
management team and our ability to enter into a new growth cycle as
we advance through the remainder of the year and beyond.”
Safe Harbor StatementThis press
release contains forward-looking statements. These statements
constitute "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 can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "target," "confident"
and similar statements. Among other things, the quotations from
management in this announcement, as well as PINTEC’s strategic and
operational plans, contain forward-looking statements. PINTEC may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission, in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Such statements are based
upon management's current expectations and current market and
operating conditions, 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. Forward-looking statements involve inherent risks,
uncertainties and other factors that could cause actual results to
differ materially from those contained in any such statements.
Potential risks and uncertainties include, but are not limited to,
the Company’s limited operating history, regulatory uncertainties
relating to online consumer finance in China, the Company’s
reliance on Jimu Group for a significant portion of its funding and
the need to further diversify its financial partners, the Company’s
reliance on a limited number of business partners, the impact of
current or future PRC laws or regulations on wealth management
financial products, publicity regarding the consumer finance
industry and the evolving regulatory environment governing this
industry in China, and the Company's ability to meet the standards
necessary to maintain the listing of its ADSs on the Nasdaq Global
Market, including its ability to cure any non-compliance with
Nasdaq's continued listing criteria. 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.
All information provided in this press release is as of the date of
this press release, and 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 applicable law.
About PINTECPINTEC is a leading
independent technology platform enabling financial services in
China. By connecting business and financial partners on its open
platform, PINTEC enables them to provide financial services to end
users efficiently and effectively. The Company offers its partners
a full suite of customized solutions, ranging from point-of-sale
financing, personal installment loans and business installment
loans, to wealth management and insurance products. Leveraging its
scalable and reliable technology infrastructure, PINTEC serves a
wide range of industry verticals covering online travel,
e-commerce, telecommunications, online education, SaaS platforms,
financial technology, internet search, and online classifieds and
listings, as well as various types of financial partners including
banks, brokers, insurance companies, investment funds and trusts,
consumer finance companies, peer-to-peer platforms and other
similar institutions. For more information, please visit
ir.pintec.com.
Investor Relations ContactJoyce
TangPintec Technology Holdings Ltd.Phone: +1-646-308-1622E-mail:
ir@pintec.com
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