Jiayin Group Inc. Announces Changes in Management
08 January 2021 - 10:00PM
Jiayin Group Inc. (“Jiayin” or the “Company”) (NASDAQ: JFIN), a
leading fintech platform in China, today announced that Mr. Chunlin
Fan tendered his resignation from the position as the
Company’s Chief Financial Officer due to personal reasons,
effective from January 8, 2021. Mr. Dinggui Yan, the Founder,
Director and Chief Executive Officer, expressed appreciation for
Mr. Fan’s contributions to the development of the Company on behalf
of the board of directors and management team of the Company.
Ms. Bei Bai, the current Financial Controller of
the Company, and Ms. Jin Chen, the current Investment and Finance
Director of the Company, have been appointed as the Co-Chief
Financial Officers of the Company, effective from January 8,
2021.
Ms. Bai, the current Financial Controller,
joined the Company as the Director of Investor Relations in August
2018. Prior to joining the Company, Ms. Bai held various positions
at PricewaterhouseCoopers Zhong Tian LLP, Shanghai Branch from 2006
to 2018, including manager and senior manager. Ms. Bai received her
bachelor’s degree in economics from Shanghai University of Finance
and Economics in 2006. Ms. Bai is also a member of Chinese
Institute of Certified Public Accountants and American Institute of
Certified Public Accountants.
Ms. Chen joined the Company as the Investment
and Finance Director in September 2019. Prior to joining the
Company, Ms. Chen served as a coverage banker of TMT sector at
Citibank (China) Co., Ltd from 2011 to 2017, leading various
capital market deals and launching global finance solutions for
Chinese tech giants. Ms. Chen received her MBA from the School of
Management, Yale University in 2019, a master’s degree in
industrial finance from Zhejiang University in 2011 and a
bachelor’s degree in mathematical finance from Zhejiang University
in 2009.
The Company noted that there were no
disagreements between Mr. Fan and the Company and that his
departure is not related to the Company’s operations, policies or
practices or any issues regarding the Company's accounting policies
and practices.
About Jiayin Group Inc.
Jiayin Group Inc. is a leading fintech platform
in China committed to facilitating effective, transparent, secure
and fast connections between investors and borrowers, whose needs
are underserved by traditional financial institutions. The origin
of the business of the Company can be traced back to 2011. The
Company operates a highly secure and open platform with a
comprehensive risk management system and a proprietary and
effective risk assessment model which employs advanced big data
analytics and sophisticated algorithms to accurately assess the
risk profiles of potential borrowers.
Safe Harbor / Forward-Looking
Statements
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the United States 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” and similar
statements. The Company may also make written or oral
forward-looking statements in its periodic reports to 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. Statements that are not
historical facts, including statements about the Company’s beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties and are based
on current expectations, assumptions, estimates and projections
about the Company and the industry. Potential risks and
uncertainties include, but are not limited to, those relating to
the Company’s ability to retain existing investors and borrowers
and attract new investors and borrowers in an effective and
cost-efficient way, the Company’s ability to increase the
investment volume and loan origination of loans volume facilitated
through its marketplace, effectiveness of the Company’s credit
assessment model and risk management system, PRC laws and
regulations relating to the online individual 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 Nasdaq Stock Market or other stock exchange, including
its ability to cure any non-compliance with the continued listing
criteria of the Nasdaq Stock Market. All information provided in
this press release is as of the date hereof, and the Company
undertakes no obligation to update any forward-looking statements
to reflect subsequent occurring events or circumstances, or changes
in its expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that its expectations will turn out to be correct, and investors
are cautioned that actual results may differ materially from the
anticipated results. Further information regarding risks and
uncertainties faced by the Company is included in the Company’s
filings with the U.S. Securities and Exchange Commission, including
its annual report on Form 20-F.
For more information, please
contact:
In China:
Jiayin GroupMs. Shelley Bei
BaiEmail: ir@jiayinfintech.cn
or
The Blueshirt GroupMs. Susie
WangEmail: susie@blueshirtgroup.com
In the U.S.:
Ms. Julia QianEmail:
julia@blueshirtgroup.com
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