SHANGHAI, Aug. 28,
2023 /PRNewswire/ -- FinVolution Group
("FinVolution," or the "Company") (NYSE: FINV), a leading fintech
platform in China, today announced
that (i) Mr. Shaofeng Gu, Chairman
of the board and Chief Innovation Officer of the Company, and (ii) other senior management of the
Company, purchased in their personal capacity approximately 0.63
million of the Company's American Depositary Shares ("ADSs") in the
first half of 2023. All the ADSs purchased were independent of the
Company's share repurchase programs and were made during an open
window period in full compliance with all the Company's and legal
guidelines.
Mr. Gu commented, "We continue to view FinVolution as an
excellent investment, particularly at our current market valuation,
and share buybacks serve as an effective capital management tool in
the current environment. Capitalizing on our cutting-edge suite of
technologies, strong liquidity position and financial flexibility
that enable us to navigate and succeed in all the markets in which
we operate, we believe FinVolution is well-positioned to execute
our 'Local Focus, Global Outlook' strategy to deliver long-term
sustainable growth."
About FinVolution Group
FinVolution Group is a leading fintech platform with strong
brand recognition in China and
international markets connecting borrowers of the young generation
with financial institutions. Established in 2007, the Company is a
pioneer in China's online consumer
finance industry and has developed innovative technologies and has
accumulated in-depth experience in the core areas of credit risk
assessment, fraud detection, big data and artificial
intelligence. The Company's platform, empowered by proprietary
cutting-edge technologies, features a highly automated loan
transaction process, which enables a superior user experience. As
of June 30, 2023, the Company had
over 169.3 million cumulative registered users across China, Indonesia and the
Philippines.
For more information, please visit: http://ir.finvgroup.com.
Safe Harbor Statement
This 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. 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 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, uncertainties as to
the Company's ability to attract and retain borrowers and investors
on its marketplace, its ability to increase the volume of loans
facilitated through the Company's marketplace, its ability to
introduce new loan products and platform enhancements, its ability
to compete effectively, laws, regulations and governmental policies
relating to the online consumer finance industry in China, general economic conditions in
China, and the Company's ability
to meet the standards necessary to maintain the listing of its ADSs
on the NYSE, including its ability to cure any non-compliance with
the NYSE'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 FinVolution 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.
For investor and media inquiries, please contact:
In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan, IRC
Tel: +86 (21) 8030 3200 Ext. 8601
Email: ir@xinye.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
Email: finv@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com
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SOURCE FinVolution Group