WUHAN, China, Feb. 12, 2018 /PRNewswire/ -- SSLJ.com Limited (NASDAQ: SSLJ) (the "Company"), a vertically integrated O2O home decoration service and product provider in China announced today, that the Company has entered into a strategic cooperation framework agreement (the "Agreement") with Hubei Rural Credit Cooperatives ("HBRCC"). HBRCC is the largest federal credit union located in the Hubei province of China. HBRCC is responsible for establishing financing platforms to enhance cooperation between parties in investment and financing to support business development and improve both parties' overall competitiveness. It is comprised of 68 individual credit unions and has more than 27,000 employees, 70 million accounts, and 2,103 outlets. HBRCC has more than 30 million customers, it has extended loans to over 3 million farmers, and it provides clearing and settlement services to around 70% of the rural areas in the province.
Pursuant to the Agreement, HBRCC will assist SSLJ by providing comprehensive financial services including credit financing, settlement, cash management, consulting as well as other financial services. HBRCC will provide SSLJ with credit financing services, including but not limited to personal consumption loans, project loans, and implementation of financial management systems connecting banks and enterprises to help SSLJ realize the safe, convenient and quick settlement of funds. HBRCC has the ability to also provide SSLJ with credit certificates, credit investigation and information consultation services, and provide personal financial services for employees of SSLJ, including comprehensive services such as payroll, personal credit, credit card, internet banking and telephone banking. As part of the Agreement, SSLJ will prioritize HBRCC's financial services. These services include handling the financial businesses of deposits, enterprise annuities, tax payments, fund custody, account management, internet banking and other financial services.
Mr. Wei Zheng, Chairman and Chief Executive Officer of SSLJ.com Limited, stated, "This partnership with Hubei Rural Credit Cooperatives provides a great benefit to SSLJ, by providing opportunities to leverage our large consumer base. This agreement solidifies our relationship and opens the door for us to grow into several other areas and take advantage of increasing opportunities. We believe this partnership will position us well for the future as a vertically integrated O2O home decoration service and product provider, as well as enhance our market competitiveness as our products will reach many more customers through our substantial sales network."
About SSLJ.com Limited
SSLJ.com Limited is a pioneer in the vertically integrated O2O home decoration service and product market with one of the largest market shares in China. The Company provides customers with a convenient, full-service, one-stop solution for their homes' interior decoration and improvement needs by offering consulting, design, construction, and furnishing services as well as modern, high-quality and high-tech products. The Company has 9 branch companies and 12 sales offices in 10 cities, which are Beijing, Shanghai, Shenzhen, Wuhan, Suzhou, Hefei, Zhengzhou, Tianjin, Chengdu, Xi'an. For more information, please visit http://www.sslj.com/.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the listing of the Company's Class A ordinary shares on NASDAQ. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. 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 the Company cautions investors that actual results may differ materially from the anticipated results.
For more information, please contact:
SSLJ.com Limited Contact:
Ms. Wing Chuen Rhoda Lau, CFO
Phone: +8627-8366-8638
Email: ir@sslj.com
Investor Contact:
Ms. Tina Xiao, President
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
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