SHANGHAI, Nov. 27, 2019 /PRNewswire/ -- FinVolution Group, formerly known as PPDAI Group Inc ("FinVolution," or the "Company") (NYSE: PPDF), a leading online consumer finance marketplace in China, today announced a reminder of that the Company's ticker symbol on the New York Stock Exchange will be changed to "FINV" from "PPDF", as previously announced on November 19, 2019.
Commencing on November 29, 2019, at the market open, the American depositary shares ("ADSs"), each representing five ordinary shares, of the Company, are expected to begin trading under the Company's new ticker symbol. No action is needed from current shareholders and ADS holders in relation to the ticker symbol.
Mr. Feng Zhang, Co-Chief Executive Officer of the Company commented, "We are pleased to align our stock's ticker symbol directly with our new corporate brand- FinVolution, which will strengthen our visibility with public investors and provide consistent recognition across all our stakeholders. As a leader in the technology-driven consumer finance space, we remain committed to our strategies and maximize shareholder value by expanding our core capabilities, enhancing our brand recognition and continuing to invest in technology."
About FinVolution Group
FinVolution is a leading online consumer finance platform in China connecting underserved individual borrowers with financial institutions. Established in 2007, the Company is a pioneer in China's online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company's platform, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of September 30, 2019, the Company had over 102 million cumulative registered users.
For more information, please visit http://ir.finvgroup.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 FinVolution 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.
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SOURCE FinVolution Group