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PP Finance Renamed as United Finance Exchange

BEIJING, July 9, 2015 (GLOBE NEWSWIRE) -- Recently, PP Finance, which is China's leading internet financing platform, announced that with the approval of the State Administration of Industry and Commerce, its parent company changed the name from "Beijing Ronghuizhongchou Financial Service Outsourcing Co., Ltd." to "United Financial Assets Exchange (Beijing) Information Technology Co., Ltd.", and the name of PP Finance platform will also be changed to United Financial Assets Exchange on July 8, 2015.

Mr. Sun Chao, President of PP Finance said that since the establishment of PP Finance, its financing businesses have developed rapidly. In order to adapt to the new business models and brand name upgrading, in according with the platform strategy of becoming a leading company in internet financing field, PP Finance changed its name.

Enhancing Platform Strategy and Fully Upgrading Brand Name

PP Finance stated in its announcement that after the name change, its location and contact information has remained the same. The data and operations related to accounts, passwords, investments and withdraws of users on the previous platform will not be influenced by the name change.

"The new name derives from 'joint finance asset trading'. We will uphold our platformization development strategy, and build United Financial Assets Exchange into a professional service platform to combine asset securitization of financial institutions and quasi-financial institutions with various investing and financing users," explained Sun Chao, President of PP Finance.

By means of the name change, PP Finance not only increases its registered capital to RMB100 million, but also consolidates its scientific business models and product management and control system, transforming to be the first service platform of joint financing asset trading in China which will provide professional internet platform services to institutions and persons with investing and financing demands.

By cooperating with famous Chinese financial asset exchanges, banks, security traders, fund companies and large financing guarantee institutions, PP Finance has initiated the "joint trading" service model of asset securitized financing products. We uphold the platformization development strategy, combine the nationally certified asset securitization products with bank - level security assessment mechanisms (put forward by the third party), re-review and evaluate the businesses on the platform, and realize the joint trading between financial institutions and quasi-financial institutions with the platform, so as to provide more and more secure financing products for investing and financing users.

"Through a series of product upgrading and improvement, PP Finance has constantly been injecting development momentums into its new brand name-United Financial Assets Exchange. The new situation brought by the brand upgrading will also promote the brand strategy of PP Finance to a new development journey," explained Sun Chao, President of PP Finance.

Improving Business Layout and Seizing New Development Opportunities

Internet, finance and big data are closely connected. When innovating its internet financing model and products, PP Finance is also arranging businesses in big data analysis field, and establishing a big data model for industries of environmental protection, bulk trade and fast consumer goods in China and transforming the long tail effects.

Under its double layouts of "internet + finance" and "internet financing + big data", on one hand, based on the risk control guarantee policy deriving from big data and IT technologies, PP Finance will provide more secure and more standardized financing products for various investors; on the other hand, based on its connection with ERP system of supply chain finance and transaction payment platforms, in accordance with the historical data, PP Finance will use big data to make credit appraisals for the core companies and their upstream and downstream companies in an industry, and grant credits to companies based on their collaterals on the platform, so as to provide more convenient financing services and better financing experience to persons and companies with financing demands.

Standing in the air of "internet +", the name change means new industrial consolidation opportunities, new brand name development height and new international vision for PP Finance. Mr. Sun Chao, President of PP Finance, said that, the brand-new United Financial Assets Exchange will as previously, concentrate on the user experience, and provide more secure, more professional, and more convenient internet investing and financing products and consulting services for various investors, so as to create win-win values and practice inclusive finance.

CONTACT: Fu Min +86-13811197123

Source: United Financial Assets Exchange (Beijing) Information