BEIJING, June 27, 2023 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading digital personal financial management platform in China, today announced that it had entered into an equity transfer agreement (the "Agreement") to acquire 100% equity interest in Chongqing Jintong Financing Guarantee Co., Ltd. ("Chongqing Jintong"), a licensed financing guarantee company in China, for a total cash consideration of RMB204.9 million. 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 2023.
Chongqing Jintong was established in 2007 in China with a registered capital of RMB200.0 million. 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.
About Yiren Digital
Yiren Digital Ltd. is a leading digital personal financial management platform in China. The Company provides customized, asset allocation-based holistic wealth solutions to China's mass affluent population as well as provides retail credit facilitation services to individual borrowers and small business owners.
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