SHANGHAI, Oct. 1, 2019 /PRNewswire/ -- China Rapid Finance
Limited (NYSE: XRF) ("XRF" or the "Company") today announced the
appointment of Haoxin Certified Public Accountants Company, Ltd.
("Haoxin"), a member firm of TGS Global, as the Company's
independent registered public accounting firm.
Haoxin replaces PricewaterhouseCoopers Zhong Tian LLP ("PwC"),
which previously was the independent registered public accounting
firm for XRF. The appointment of Haoxin has been approved by
both the Audit Committee and the Board of Directors (the "Board")
of the Company. XRF's intention is to file its Annual Report
on Form 20-F for its fiscal year ended December 31, 2018 on or before November 15, 2019.
The reports of PwC on the consolidated financial statements of
XRF and its subsidiaries as of and for the years ended December 31, 2016 and 2017 did not contain any
adverse opinion or disclaimer of opinion, nor were they qualified
or modified as to uncertainty, audit scope or accounting
principles.
The Board would like to express its sincere gratitude to PwC for
its professionalism and quality of services rendered to the Company
over the past years.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. These forward-looking statements are made under the
"safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These statements can be identified by
terminology such as "may," "will," "expects," "anticipates,"
"aims," "future," "intends," "plans," "believes," "estimates,"
"likely to" and similar statements. The Company may also make
written or oral forward-looking statements in its reports filed
with, or furnished to, the U.S. Securities and Exchange Commission,
in its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the Company's ability to satisfy the
requirements of PRC regulatory authorities regarding the repayment
of loans made by lenders on its platform; the success of the
cooperation arrangement with EOT; the Company's ability to file its
Annual Report in a timely manner or regain compliance with NYSE
continued listing standards; the potential need to make adjustments
to prior period financial statements of the Company; unexpected
difficulties in the Company's pursuit of its goals and strategies;
unexpected developments, including slow growth, in the consumer
lending market; reduced demand for, and market acceptance of, the
Company's products and services; difficulties keeping and
strengthening relationships with borrowers or investors;
difficulties of expanding data and channel partnerships,
potentially costly servicing activities; competition in the
consumer lending market; PRC governmental regulations and policies;
and general economic and business conditions in the regions where
the Company provides products and services. Further information
regarding these and other risks is included in the Company's
reports filed with, or furnished to, the Securities and Exchange
Commission. All information provided in this announcement and in
the attachments is as of the date of this announcement, and the
Company undertakes no duty to update such information except as
required under applicable law.
About China Rapid Finance Limited
China Rapid Finance (NYSE: XRF) is a leading fin-tech company
that offers an award-winning microcredit platform and one of
China's largest online consumer
finance marketplaces. XRF utilizes its proprietary,
mobile-first technology to select consumers for its institutional
clients. XRF was founded by Dr. Zane
Wang, who has decades of consumer credit industry experience
in the U.S. and China. For more
information, please visit http://ir.crfchina.com.
About Haoxin Certified Public Accountants Co., Ltd
Haoxin Certified Public Accountants Co., Ltd., founded in 2005,
is registered with the PCAOB and is a member of TGS Global, which
is a top 25 international network (https://tgs-global.com).
Haoxin has more than 50 CPA, CPV, CTA, CIA and EC
professionals, including six partners, with more than 15 years of
professional experience in accounting, auditing, tax advice,
financial management, investing and financial consulting and asset
evaluation. For more information, please visit
http://www.haoxincpa.com.
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SOURCE China Rapid Finance