GUANGZHOU, China , Oct. 17,
2023 /PRNewswire/ -- PUYI Fund, a subsidiary of
Puyi Inc. ("Puyi" or the "Company") (NASDAQ: PUYI), a
renowned asset management company, and Ping An Bank Co., Ltd., a
leading financial institution, recently announced that they have
formally entered into a strategic cooperation, marking the
beginning of a new chapter of all-round, multi-disciplinary, and
deep-level cooperation between the two parties, which is of
far-reaching significance for their synergistic development.
Under the strategic cooperation framework, Ping An Bank and PUYI Fund will establish a
long-term cooperative relationship. In order to safeguard the
common interests and promote the common development of both
parties, they will actively commit themselves to constructive
business co-operation in the field of finance, give full play to
their respective industrial strengths, integrate the resources of
both parties, pool their synergies, realize bi-directional
empowerment, and work hand in hand to push forward the high-quality
synergistic development.
According to the strategic cooperation agreement, both parties
will engage in business collaboration while adhering to the
respective business regulations. The collaboration encompasses
various financial services such as wealth management, account
system services, fund investment and research services, personal
pension investment accounts, personal finance planning and bank
financing services. Furthermore, both parties will foster profound
cooperation and innovation in customer management, product
management, channel management and data management in order to
deliver cutting-edge financial products and services.
Both parties will also establish a "Banking and Enterprise
Strategic Cooperation Group" to enhance day-to-day communication,
actively exploring a new mode of collaboration between banks and
enterprises based on mutual benefit. Meanwhile, taking the signing
of this strategic cooperation as an opportunity, the two parties
will further expand the breadth and depth of their cooperation in
the future, jointly meet the diversified financial service needs of
customers, continuously improve the benefits of synergistic
development, and jointly serve the new pattern of economic
development.
About PUYI
Headquartered in Guangzhou, China, Puyi is a
leading third-party wealth management service provider
in China focusing on affluent and emerging middle class
population. Puyi provides a series of comprehensive
financial asset allocation services including wealth management
services, asset management services, insurance consulting services,
trust consulting services and ancillary services for clients.
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's
future business development; product and service demand and
acceptance; changes in technology; economic conditions; the growth
of the third-party wealth management industry in China; reputation and brand; the impact of
competition and pricing; government regulations; fluctuations in
general economic and business conditions in China and the international markets the
Company serves and assumptions underlying or related to any of the
foregoing and other risks contained in reports filed by the Company
with the Securities and Exchange Commission. For these reasons,
among others, investors are cautioned not to place undue reliance
upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
U.S. Securities and Exchange Commission, which are available for
review at www.sec.gov. The Company undertakes no obligation to
publicly revise these forward‐looking statements to reflect events
or circumstances that arise after the date hereof.
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