SHANGHAI, Feb. 19, 2019 /PRNewswire/ -- PPDAI Group Inc. ("PPDAI," "Paipaidai," or the "Company") (PPDF), a leading online consumer finance marketplace in China, today announced further progress in growing its institutional funding partners base.
The Company has made a solid start in 2019, with total loan origination volume in January further increasing from the average monthly level experienced in the fourth quarter of 2018. The Company has forged ahead with diversifying its funding sources, highlighted by the proportion of loans facilitated by institutional funding partners to total loan origination volume increasing to 35.1% in January from 20.4% in the fourth quarter of 2018.
Mr. Jun Zhang, Chairman and Co-Chief Executive Officer of PPDAI, commented, "We are diversifying our funding sources through multiple partnerships, further demonstrating our capabilities in navigating the dynamic market and capturing growth opportunities. Despite some expected seasonal weakness in February due to the Chinese New Year holiday, this solid progress marks an encouraging start for 2019 as we continue to engage with a larger base of institutional funding partners and maintain a healthy funding structure."
Mr. Feng Zhang, Co-Chief Executive Officer of PPDAI, continued, "We believe increasing the proportion of institutional funding is in line with the current regulatory outlook and we are confident that we can achieve further growth in funding from institutional funding partners in 2019."
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:
PPDAI Group Inc.
Jimmy Tan / Sally Huo
Tel: +86 (21) 8030 3200 Ext. 8601
The Piacente Group, Inc.
Tel: +86 (10) 5730-6202
In the United States:
The Piacente Group, Inc.