Bairong Inc. to Approve Interim Financial Statement at Upcoming Meeting of the Board on August 25

BEIJING, July 29, 2021 /PRNewswire/ -- Bairong Inc ("Bairong" or "the Company", 6608.HK), a leading independent AI-powered technology platform in China, has announced that a meeting of the Board will officially take place on Wednesday, August 25 to approve the company's unaudited interim results for the six months ended June 30, 2021.

The Board confirms that the operations of the Company remain normal and has full confidence in the Company's future development prospects. As of the date of the announcement, the Board is not aware of any change in the regulatory regime or in the business ecosystem which may result in a material negative impact on the business prospects of the Company.

In the first half of 2021, Bairong rapidly expanded its business with technological breakthroughs via its Indra platform, and optimized its initiatives and investments across six categories outlined in its first-ever ESG Report. At the same time, the Company has recently inked business partnerships with China's Nanyang Commercial Bank, Blogis Capital, China Eastern Finance, Hankou Bank, and Dongfeng Motor Finance to provide cloud-based data analytics services in risk management and supply chain finance.

Harnessing the power of data analytics capabilities, AI risk management technology and their collective experience in the industry, Bairong and its partners are ushering in a prosperous future for aviation, banking, logistics, and automobile industries, with a diverse range of application scenarios:

• As a number of online regulatory and product requirements cannot fully be met using traditional risk management methods, Nanyang Commercial Bank has selected to work with Bairong to establish its own localized personal financial risk management platform and build its own risk management model.
• Dongfeng Motor Finance has teamed up with Bairong to support its needs in the digital transformation of automotive finance, as the traditional batch processing and quasi-real-time processing modes of traditional risk management are no longer able to mitigate the financial risks involved.
• Blogis Capital is using Bairong's services to implement financial business models in the transformation of the traditional logistics industry in order to solve the funding needs of small and medium-sized enterprises in the supply chain.
• China Eastern Finance is seeking to promote the development of industry chain finance and build a new integrated industry-finance ecosystem.
• Hankou Bank is promoting both its online and digital credit business using Bairong's supply chain financial technology services.

In recent years, Bairong has established an "industry + technology + finance" ecosystem. By building a bridge to realize the accurate matching of supply and demand of inclusive finance players using its leading "C+B" financial technology platform, Bairong effectively connects capital and assets through data, asset-based and platform empowerment. After years of experience in the logistics field, Bairong has also harnessed its innovative supply chain financial service model to establish agreements with partners in dozens of industries including textiles, FMCG, steel, plastics, agriculture, and rural development to tap into the potential of hundreds of billions worth of capital.

Looking ahead, Bairong will continue to leverage its data analytics expertise to innovate and promote the upgrading of traditional industries. The Company will use its partnerships as an opportunity to improve its supply chain financial risk prevention and management capabilities through ongoing product and service innovation — all in order to contribute to the digital transformation of the industry and empower the development of the real economy.

About Bairong Inc.

Founded in March 2014, Bairong is a leading independent AI-powered technology platform in China serving more than 4,800 financial services provider clients. Bairong was the largest independent financial big data analytics solutions provider in China by revenue in 2019. Adhering to the mission of empowering every financial services provider in China with smart and comprehensive data analytics, Bairong has built a cloud-native technology platform that supports the full business cycle of FSP clients, including pre-lending risk management, post-lending monitoring, NPL management and insurance risk management, enabling them to reduce exposure to fraud and improve their risk management effectiveness. Bairong also provides big data marketing and distribution services that enable FSP clients to reach and serve their target customers more effectively.

For more information, please visit Bairong Inc.

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