Yiren Digital to acquire Chongqing Jintong for RMB 204.9M

Yiren Digital announced that it had entered into an equity transfer agreement to acquire 100% equity interest in Chongqing Jintong, a licensed financing guarantee company in China, for a total cash consideration of RMB 204.9M. The closing of the transaction is subject to conditions that are customary for transactions of this type and is currently expected to occur in July. Chongqing Jintong was established in 2007 in China with a registered capital of RMB 200M. It primarily operates financing guarantee business and provides relevant financing advisory services. Following the acquisition of Chongqing Jintong, the company will be able to provide financing guarantee services through Chongqing Jintong, which will help expand its loan facilitation business in China, optimize its service offerings and accelerate the pace of its business development.