CEO Soul Htite expanded on the strong year: "Since the launch of new online lending regulations in the second half of last year, and with the regulator actively supporting the sector's development, the online lending industry has been significantly revitalized. Furthermore, with the exit of many platforms from the industry, major players with strong brands and state-of-the-art technology have been given new opportunities to further their development when compared with 2015."
One of China's Top Three Marketplace Lending Platforms
During the year, Dianrong was named one of China's top three online lenders by the renowned rating website, Wdzj.com, and Yingcan Consulting Company in their "Development Index Rating of the Top 100 Online Lending Platforms for October 2016".
The recognition was the result of Dianrong's effort to enhance its compliance and transparency procedures, for which it scored the No.1 among the top 10 companies in the ranking respectively, making the platform a leader in the industry on these metrics.
Four Consecutive Years of Exponential Growth
Last year marked the fourth consecutive year of strong growth in origination for Dianrong, hitting approximately RMB 60 million, RMB 790 million, RMB 6.55 billion and RMB 16.23 billion in 2013, 2014, 2015 and 2016 respectively.
Since May 2016, Dianrong's origination significantly increased following the company's "Real P2P" consumer education campaign in Beijing and Shanghai which makes a positive case for P2P.
The introduction of new online lending rules by the regulator in August helped Dianrong's trading volumes hit a one-year high in September. Soul noted, "As the entire industry grows, it is fair to say that the P2P sector has had many positive developments since the boom period in 2014 to 2015, and the subsequent correction in the sector in 2016. The figures also show that as people learn more about formal P2P models, and as China increasingly facilitates inclusive finance, the P2P industry is expected to maintain a rapid growth for a longer time."
Dianrong has also disclosed more details on how the "Tuan Tuan Zhuan" ("Group Investing") engine works. If one was to select 'Classic Group Investing' for example, every renminbi the client puts in will be diversely invested in more than 239,000 projects in line with their strategic needs, and the client will know about the capital flows of each of their investments and which projects they are invested in. Currently, all the funds are deposited at Hengfeng Bank.
Additionally, during the past year, Dianrong investigated 45,490,000 credit reporting records while strictly controlling the risks of various investments. In 2016, the minimum loan amount Dianrong issued was merely RMB 200.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/dianrong-announces-2016-annual-results-cumulative-trading-amount-exceeds-rmb-162-billion-a-year-on-year-increase-of-148-300391724.html