Yinfu Gold Corporation Reports P2P Lending Platform Results
23.04.2015 | GlobeNewswire
HONG KONG, April 23, 2015 -- Yinfu Gold Corporation ("ELRE") is pleased to report the progress of its recently acquired peer-to-peer (P2P) lending platform, Dongguan YouDai Financial Information Services Co., Ltd. (YouDai).YouDai is an internet financial services company, incorporated in the People's Republic of China, which is operating an online peer-to-peer lending platform (www.youdai365.com) together with multiple finance services including financing counseling, corporate investment counseling, loans application counseling, industrial investment, equity investment and assets management.
In February, ELRE engaged the services of Mr. Yang Jinlin as the company's Chief Public Relations and Media Officer. Mr. Yang Jinlin will host ELRE' s press conferences and public relations and media meetings.
Mr. Yang Jinlin is well-known in China and will work to promote ELRE's YouDai corporate brand image and ELRE's financial products. Additionally, Mr. Yang will help ELRE develop marketing strategy.
Mr. Yang is an associate researcher and visiting professor at Taiwan Research Institute of Xiamen University and also a visiting professor at Jinan University, Huaqiao University and Zhejiang University of Media and Communications. He was also the chief journalist and chief editor in several China-based newspapers. In 2002, he joined Phoenix TV and anchored several well-known programs including Read Newspapers Everyday, Weekly Comment, How the World Views China, World Olympic Report, Studying Around Greater China and Oriental Wisdom. In 2011, he was the Vice President and Executive Director of a Hong Kong TV Station.
On March 14, 2015, Mr. Yang Jinlin hosted a press conference in Dongguan, China on behalf of ELRE. More than 700 potential lenders with interest in YouDai's P2P lending platform as well as journalists from mainstream financial media in Mainland China and Hong Kong attended the conference.
In a statement, Mr. Liu Jun, the Chairman of the Board of ELRE, said, "After the acquisition announcement was released at our press conference, YouDai was able to increase its registered member base from 111 in February to 1848 members which represents an increase of more than 1,600%. Furthermore, the amount of loan principal increased from RMB 1,488,800 (US$240,000) in February to RMB 8,186,600 (US$1,318,000) in March, which represents a 549% increase."
Mr. Liu added, "Based upon these figures we see a positive indicator that loan investors' faith in YouDai has increased substantially following its acquisition by ELRE. YouDai will continue to invest in product development, engineering, process automation and build up of risk management functions. This is all part of our determination to become one of China's premier P2P lending platforms."
The Company is currently working to complete all its accounting up to 2015 in order to become current in its reporting requirements and will upload its filings onto the OTC Alternate Filing System.
About ELRE
In February, ELRE acquired 100% of the shares and assets of Eternal Fairy International Ltd. (EFI). EFI owns Dongguan YouDai Financial Information Services Co., Ltd. ELRE paid US$600 million by the issuance of 1.2 billion restricted common shares of ELRE.
ELRE's YouDai focuses on peer-to-peer lending and provides a marketplace that connects customers with multiple lenders and which rewards people who are financially responsible by providing low rate loans to borrowers and high interest returns to lenders.
On February 5, 2009 the company began trading in the U.S. under the symbol "ELRE." On November 12, 2014 the company announced the appointment of Mr. Liu Jun as the company's President and as its sole director.
The Company website is: http://www.uselre.com/
This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.
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