BEIJING, Oct. 26, 2017 /PRNewswire/ -- China Internet Nationwide Financial Services Inc. (NASDAQ: CIFS) ("CIFS" or the "Company"), a leading financial advisory services company, today announced the expansion of its service offerings with the launch of its supply chain financing services (the "SCF Services"). The SCF Services provide owners of small to medium sized enterprises (the "SMEs") with holistic supply chain financing solutions and value-added services in order to reduce financing costs and improve efficiency during a business transaction. With an initial focus on the medical supplies and medical equipment, airline catering and bulk commodity supply chains, the SCF Services will be operated through Fu Hui (Shenzhen) Commercial Factoring Co., Ltd., a recently incorporated, wholly owned subsidiary of the Company.
Jianxin Lin, Chairman and Chief Executive Officer of CIFS, commented, "Driven by the increasing globalization and complexity of supply chains, supply chain financing has gained growing popularity in recent years in China as more and more companies, including both buyers and sellers, rely on third party services to provide much needed extension of buyer's account payable terms, inventory finance and invoice factoring, etc. For example, business factoring, which is the most common and largest sub-segment of SCF in today's China, more than doubled in transaction volume and reached over RMB 500 billion in 2016 according to statistics by China Association of Trade in Services, making it one of the fastest growing segments of the financial service industry."
Mr. Lin continued, "Since our inception in 2014, we have been aiming to become a one-stop shop to meet the financing and capital needs of SMEs who are often ignored or underserved by commercial banks in China. Leveraging our strong track record of helping SMEs through our existing advisory services in commercial payment, international corporate financing and intermediary bank loans, we firmly believe that we can capture our fair share of the fast-growing supply chain financing services market in the coming years."
About China Internet Nationwide Financial Services Inc.
Incorporated in 2014 and headquartered in Beijing, China Internet Nationwide Financial Services Inc. provides financial advisory services, including commercial payment advisory, intermediary bank loan advisory, and international corporate financing advisory, to meet the financing and capital needs of its clients, comprised largely of small-to-medium sized enterprises.
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and 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" and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties, Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update 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 such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.
INVESTOR RELATIONS:
China Internet Nationwide Financial Services Inc.
Email: ir@cifsp.com
Phone: +86 10 8587 8166
Tony Tian, CFA
Weitian Group LLC
Email: tony.tian@weitian-ir.com
Phone: +1 732 910 9692
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