The Company, together with its subsidiaries, engages in the microfinance lending business in the People s Republic of China. The company offers consumer, commercial, collateral-backed, and enterprise loans to individuals; micro, SMEs; and sole proprietors.
The Company used its website http://hbctxed.com and its membership in certain industry associations to promote and to provide information about the Company and its products. After learning about the Company and our products, borrowers approached us to apply for their loans. The Company provided loans to individuals and companies through its credit teams.
Most of its borrowers are individuals and companies. The Company s typical size loans are around RMB 4.0 million (US 0.6 million) for individuals, and are around RMB7.0 million (US 1.1 million) for companies. Upon loan origination, its loans are either guaranteed or secured and have payment terms that are typically become due within twelve (12) months, subject to annual renewal of terms. However, in 2019, the Company began to experience defaults on its loans. As of December 31, 2022, the Company had loans of an aggregate of principal amount of RMB753.0 million (US 109.2 million), which were all overdue. Due to the severe financial restraint, it has suspended offering loans to its customers since the second half year of 2019 and the Company is exploring new opportunities in supply chain finance.
The Company operates in only one segment.
HISTORY
2010 The Company was incorporated in the Cayman Islands as an exempted limited liability company on June 24, 2010.
On November 23, 2010, the Company listed its ADSs on the New York Stock Exchange under the symbol “XNY”.
2017 On December 28, 2017, the Company completed the Divestiture and Acquisition. In connection with the Divestiture, the Company divested its wholly-owned subsidiary, Xiniya Holdings Limited, a Hong Kong company, to Qiming Investment Limited, a British Virgin Islands company, in exchange for a purchase consideration of RMB228,000,000 (US 34,588,428). In connection with the Acquisition, it purchased all of the issued and outstanding ordinary shares of True Silver for a cash payment of RMB228,000,000 (US 34,588,428) and the issuance of 772,283,308 of our ordinary shares at RMB1.00 (US 0.15) per share, and True Silver became its wholly owned subsidiary. True Silver utilizes a VIE structure to operate and consolidate 80 of the financial results of Chutian.
On December 28, 2017, the Company transitioned to the NYSE American LLC (“NYSE American”).
2018 The Company began trading under its new symbol “DXF” on March 5, 2018.
总部
27Th Floor, Lianfa International Building, 128 Xudong Road, Wuchang District
武汉; 湖北;
邮编: 430063
联系方式: 购买Dunxin Financial Holdings Ltd.报告以查看信息。
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