HONG KONG--(BUSINESS WIRE)--
LiNiu Technology Group (f/k/a Iao Kun Group Holding Company Limited) (“LINU” or the “Company”) (LINU), which launched its electronic trading platform focused on the Chinese agricultural industry in April 2017 through Guangzhou LiNiu Network Technology Co., Ltd. (“Guangzhou LiNiu”), today announced that it has signed a three-year strategic cooperation agreement with The Peoples Insurance Company of China Limited’s (“PICC”) Guangzhou branch.
PICC, a listed company on the Hong Kong Stock Exchange, which engages in property and casualty insurance, life and health insurance, asset management and financial services, is one of the largest insurance financial groups in China. Total gross written premiums for PICC in 2016 were approximately RMB439.8 billion. Within that total, gross written premiums from agriculture insurance were approximately RMB19.5 billion, and PICC also generated gross written premiums of approximately RMB36 billion from contracts written in Guangdong province.
Through the agreement, the companies will work together to develop new insurance products tailored for farmers, rural residents and the agricultural industry that would help in solving the Three Rural Issues. Guangzhou LiNiu will also prioritize the promotion of PICC’s insurance products to customers of its LiNiuYang trading platform, while PICC in turn will promote LiNiuYang’s products, services and platform to its customers through brochures or booths in its branch offices. In addition, both companies will meet regularly and share knowledge and information to help improve their efficiency through enhanced risk management, information management and e-commerce development.
“We are pleased to be working closely with PICC to help further enhance our presence in Guangdong province while devising new products in concert with PICC that should provide additional benefits to customers of our LiNiuYang platform,” said Mr. Wang Shun Yang, co-Chief Executive Officer of LiNiu Technology Group.
About LiNiu Technology Group
LiNiu Technology Group (LINU) recently launched the LiNiu Network, a Business to Customer (“B2C”), Customer to Customer (“C2C”) and Online to Offline (“O2O”) electronic trading platform focused on the Chinese agricultural industry. The Company also currently participates in the promotion of VIP gaming at the Altira Macau. For more information on the LiNiu Network, please visit www.liniuyang.com.
This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of the Company’s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Factors that could cause actual results to differ materially from management's current expectations include but not limited to those risks and uncertainties relating to future business development; ability to maintain the reputation and brand; privacy and regulatory concerns; competition; security breaches; the continued growth of the e-commerce market in China; and fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. Investors and potential investors should consult all of the information set forth herein and should also refer to the risk factors set forth in the Company’s Annual Report on Form 20-F filed in April 2017, and other reports filed or to be filed from time-to-time with the Securities and Exchange Commission.