360 Finance Outlines Measures to Ensure Business Continuity in Response to Evolving Situation Associated with Coronavirus Outbreak in China
SHANGHAI, China, Feb. 6, 2020-- 360 Finance, Inc. (NASDAQ: QFIN) (“360 Finance” or the “Company”), a leading digital consumer finance platform, today outlined several measures it has taken to ensure business continuity in response to the evolving situation associated with the coronavirus outbreak in China.
Based on the current situation, the Company made appropriate contingency deployments during the Spring Festival. To ensure the safety and health of its employees, all employees have been asked to work remotely for the foreseeable future. The Company has also issued health-related and safety guidelines for employees and implemented a series of measures that will ensure business continuity.
In addition, the Company's affiliates including 360 Group have jointly donated a total of RMB15 million to support the front-line medical staff leading the fight. The donation will be used for medical and prevention and control work across Wuhan and other places in Hubei Province, which have been the areas most affected by the coronavirus outbreak. RMB12 million of the overall donation has been used to purchase urgently needed supplies and equipment, including various types of medical masks, thermometers, medical gloves, disinfectant solutions as well as test kits for the coronavirus. A significant portion of the medical supplies have already arrived in Wuhan and Jingzhou, and additional medical supplies will be shipped progressively and are expected to be sent to hospitals or charities in other cities in Hubei Province such as Huanggang, Xiaogan and Suizhou in the coming weeks. 360 Finance employees have also voluntarily organized donations.
“Our business development and operations remain stable as a result of the joint effort by all our employees,” commented Mr. Haisheng Wu, Chief Executive Officer and Director of 360 Finance. “We have always been committed to maintaining the highest standards of corporate social responsibility and I am proud to see the outpouring of support from all our employees as the nation battles the outbreak. We continue to focus on improving the quality of the loans originated on our platform despite the situation and amid macro and regulatory headwinds. The delinquency rate of loans originated by us has been temporarily impacted, but we expect it will remain manageable in the long run. Our priority has always been the health and safety of our employees and assuring that business operations continue smoothly as we service our customers and partners. I am confident that we have the flexibility needed to navigate these difficult times and generate long-term sustainable value for our shareholders.”
About 360 Finance
360 Finance, Inc. (NASDAQ: QFIN) (“360 Finance” or the “Company”) is a leading digital consumer finance platform and the finance partner of the 360 Group. The Company provides tailored online consumer finance products to prime, underserved borrowers funded primarily by its funding partners. The Company’s proprietary technology platform enables a unique user experience supported by resolute risk management. When coupled with its partnership with 360 Group, the Company’s technology translates to a meaningful borrower acquisition, borrower retention and funding advantage, supporting the rapid growth and scaling of its business.
Safe Harbor Statement
Any forward-looking statements contained in this announcement are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. 360 Finance may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about 360 Finance’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding such risks and uncertainties is included in 360 Finance’s filings with the SEC. All information provided in this announcement is as of the date of this announcement, and 360 Finance does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please contact:
Christensen In China
Mr. Christian Arnell Phone: +86-10-5900-1548
Ms. Linda Bergkamp Phone: +1-480-614-3004