Home > Overseas Investment News > Hexindai Announces Strategic Cooperation with Entertainment Manufacturing International Culture Media Group Co. Limited to Develop Business
Hexindai Announces Strategic Cooperation with Entertainment Manufacturing International Culture Media Group Co. Limited to Develop Business

BEIJING, Dec. 21, 2019 /PRNewswire/ -- Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company"), a fast-growing consumer lending marketplace in China, today announced that it has entered into a non-binding Memorandum of Understanding ("MOU") of intent to establish a strategic cooperation with Entertainment Manufacturing International Culture Media Group Co. Limited ("YRZZ"), an affiliate of the Color World Entertainment Limited ("Color World"), and further jointly develop business moving forward.

YRZZ is a leading live event entertainment company in Asia, equipped with abundant resources to seamlessly facilitate a variety of world-class live entertainment and performances. With an outstanding cast and seasoned operation professionals, YRZZ has established a stellar reputation and is well known for their rich experience in providing solid on-and-off line entertainment to wide audiences worldwide.

Mr. Xiaobo An, Hexindai's Founder, Chairman and Chief Executive Officer commented, "We are very excited to launch this new chapter of our business and cannot wait to implement our long-term plans. Under the terms of the MOU, this strategic cooperation will allow Hexindai and Color World Entertainment Limited to develop and diversify the business by providing comprehensive services for the entertainment market, starting in 2020."

About Hexindai Inc.

Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company") is a fast-growing consumer lending marketplace based in Beijing, China facilitating loans to meet the increasing consumption needs of underserved prime borrowers in China. Hexindai provides borrowers with convenient and ready access to comprehensive consumer finance services. Hexindai's strong user acquisition capabilities, cutting-edge risk management system, and strategic relationships with respected financial institutions allow the Company to generate higher customer satisfaction, reliance, and realize fast growth.

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Safe Harbor Statement

This announcement 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 "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), 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. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: the Company's goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace's products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law.

For inquiries, please contact:

Ms. Dorothy Wang

In China
Mr. Christian Arnell

Mr. Tip Fleming


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