SHANGHAI, Jan. 29, 2019
/PRNewswire/ -- PPDAI Group Inc. ("PPDAI," "Paipaidai," or the
"Company") (NYSE: PPDF), a leading online consumer
finance marketplace in China,
today announced updates on its growth in institutional funding
and loan origination volume for the fourth quarter of 2018.
The Company's loan origination volume facilitated with
institutional funding increased significantly by 71.2% to
RMB3.6 billion in the fourth quarter
of 2018 from RMB2.1 billion in the
third quarter of 2018.
Benefiting from the rapid growth in institutional funding, the
Company's total loan origination volume in the fourth quarter of
2018 increased by 19.2% to RMB17.6
billion from RMB14.8 billion
in the third quarter of 2018. In the fourth quarter of 2018, the
proportion of loans facilitated with institution funds to total
loan origination volume was 20.4%, compared to 14.3% in the third
quarter of 2018. As a result, for the full year 2018, the Company
achieved total loan origination volume of approximately
RMB61.5 billion.
Mr. Jun Zhang, the chairman and a
co-chief executive officer of PPDAI, commented, "We have been
embracing regulations and made further efforts to strengthen our
institutional funding capabilities. We are encouraged with our
solid progress over the last few quarters and have developed a
diversified institutional investor base covering a range of
financial institutions. Looking forward, we are confident in our
ability to attract more institutional investors and further
diversify our funding source."
About PPDAI Group Inc.
PPDAI is a leading online consumer finance marketplace in
China with strong brand
recognition. Launched in 2007, the Company is the first online
consumer finance marketplace in China connecting borrowers and investors. As a
pioneer in China's online consumer
finance marketplace, the Company benefits from both its early-mover
advantages and the invaluable data and experience accumulated
throughout multiple complete loan lifecycles. The Company's
platform, empowered by its proprietary, cutting-edge technologies,
features a highly automated loan transaction process, which enables
a superior user experience, as evidenced by the rapid growth of the
Company's user base and loan origination volume. As of September 30, 2018, the Company had over 83
million cumulative registered users.
For more information, please visit http://ir.ppdai.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 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 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 PPDAI 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:
PPDAI Group Inc.
Jimmy Tan / Sally Huo
Tel: +86 (21) 8030 3200 Ext. 8601
E-mail: ir@ppdai.com
The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 5730-6202
E-mail: paipaidai@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: paipaidai@tpg-ir.com
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SOURCE PPDAI Group Inc.