HANGZHOU, China, April 4, 2022 /PRNewswire/ -- Weidai Ltd.
(the "Company" or "Weidai") (NYSE: WEI), a leading auto-backed
financing solution provider in China, is issuing this press release in light
of the unusual trading activity related to the American depositary
shares (the "ADSs") of the Company on the New York Stock Exchange
(the "NYSE") on April 1, 2022.
Normally, Weidai does not comment on market activity or rumors.
However, Weidai confirms that it is not aware of any undisclosed
material change or development in its business and operations or
rumors in the market that would account for the recent increase in
trading activity, and related increase in trading price, of its
ADSs on the NYSE.
About Weidai Ltd.
Weidai Ltd. is a pioneer and leading auto-backed financing
solution provider in China
supported by sophisticated and effective risk management system and
technology. The Company transforms used automobiles, a type of
"non-standard" collateral, into investable assets, to provide
accessible credit for China's
small and micro enterprises, and connects the borrowers with
institutional funding partners through its platform.
For more information, please visit
http://weidai.investorroom.com/.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. Weidai may also make written or
oral forward-looking statements in its periodic reports to the SEC,
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 Weidai's beliefs and
expectations, are forward-looking statements. Such statements are
based upon management's current expectations and current market and
operating conditions, and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control. Forward-looking statements involve risks, uncertainties
and other factors that could cause actual results to differ
materially from those contained in any such statements. Potential
risks and uncertainties include, but are not limited the following:
Weidai's goal and strategies; Weidai's expansion plans; Weidai's
future business development, financial condition and results of
operations; Weidai's expectations regarding demand for, and market
acceptance of, its solutions and services; Weidai's expectations
regarding keeping and strengthening its relationships with
borrowers, investors and financial institutions and other platform
participants; general economic and business conditions; Weidai's
assumptions underlying or related to any of the foregoing
regulations and governmental policies relating to the online
consumer finance industry in China; its ability to comply with existing or
future laws and regulations related to data protection or data
security; and Weidai's ability to meet the standards necessary to
maintain listing of its ADSs on the NYSE, including its ability to
cure any non-compliance with the NYSE's continued listing criteria;
litigation and negative publicity surroundings China -based companies listed in the U.S.; and
the duration of the COVID-19 outbreak, including the emergence of
COVID variants, and its potential impact on the Company's business
and financial performance. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. All
information provided in this press release is as of the date of
this press release, and Weidai does not undertake any obligation to
update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
applicable law.
For investor and media inquiries, please contact:
In China:
Christensen
Mr. Rene Vanguestaine
Tel: +86-10-5900-1548
E-mail: rvanguestaine@christensenir.com
In US:
Christensen
Ms. Linda Bergkamp
Tel: +1-480-614-3004
E-mail: lbergkamp@christensenir.com
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SOURCE Weidai Ltd.