Roan Holdings Group Co. Announces the Signing of a Cooperation Agreement with Hangzhou Weiche Info Tech to Implement Growth Strategies on Lifestyle Consumer Services

BEIJING and HANGZHOU, China, Nov. 15, 2021 /PRNewswire/ -- Roan Holdings Group Co., Ltd. ("Roan" or the "Company") (OTC Pink Sheets: RAHGF and RONWF), a provider of diversified solutions in financial, insurance and healthcare related products and management services, announced today that the Company's subsidiary, Yifu Health Industry (Ningbo) Co., Ltd. ("Yifu"), has signed a cooperation agreement (the "Agreement") with Hangzhou Weiche Info Tech Co., Ltd. ("Weiche"), a national high-tech company focused on travel consumption and parking payment realization services, in order to further the development of Roan's growth strategies on its lifestyle consumer services business.

According to the terms of the Agreement, both parties will share resources and utilize each parties' respective advantages in order to jointly provide accurate and real-time smart parking services. In addition, both parties will enhance their related products such as developing virtual electronic coupons for their individual customers, based on mobile internet, big data and cloud computing technologies. Pursuant to the Agreement, Weiche will develop the electronic parking coupon product, and provide the HTML5 page refresh and parking coupon rights embedding channels to Roan. Weiche is also responsible for the operational stability of the digital marketing tools system, and will work with Roan to provide standardized solutions and related supports to their corporate customers. When the order amount exceeds the single deductible amount of the electronic parking coupon, the fee will be automatically deducted when the customers use WeChat to pay, which will be applicable to the all WeChat payment parking lots in China.

Mr. Junfeng Wang, Chairman of the Company, commented: "We are pleased to begin this partnership with Weiche, a national personal travel consumption service company. Following our previously announced establishment of the joint ventures, with the FINE C+ Interactive Technology (Hangzhou) Limited developing its culture and tourism consumption business in October 2021, and with the Zhejiang Yijia Travel Digital Technology Co., Ltd developing its business travel service in July 2021, we continue to make extensive progress on our long-term growth strategies of upgrading and developing our personal consumption service system.

Our new partner, Weiche has an extensive operation network across nationwide, covering 32 provinces and autonomous regions, 320 cities, 95% of the WeChat payment smart parking lots, and serving more than 50 million car users in China. With its 21 intelligent marketing and management independent intellectual property rights base on the Matrix big data precise algorithms and AI intelligent technology, Weiche has effectively served the high-level car-owners in China. Weiche is also among China's first cohort with WeChat's banking service provider, WeChat's parking rights issuer, and WeChat's "Internet + Car" project partner. This strategic cooperation with Weiche is not only enhances the transformation space of our existing banking resource rights and interests and obtain more potential customers, but also enable the Company to enjoy the increasing abilities in our business segments and marketability in the future. Looking forward, we anticipate seizing the opportunity presented by this Agreement by accelerating the digital transformation in the personal consumption service business, and to utilize our new cooperation with Weiche to deliver more products and services for our customers."

About Hangzhou Weiche Info Tech Co., Ltd.

Hangzhou Weiche Info Tech Co., Ltd., is a national high-tech company focused on travel consumption and parking payment realization services. The company's current service network covers 32 provinces and autonomous regions, 320 cities, 95% of the WeChat payment smart parking lot, and serves more than 50 million car users in China. The company has 21 intelligent marketing and management independent intellectual property rights base on Matrix big data precise algorithms and AI intelligent technology to effectively serve the high-level car-owners in China. The company is among China's first cohort as a WeChat banking service provider, WeChat parking rights issuer, and as a WeChat "Internet + Car" project partner. For more information, please visit: http://www.ttcars.com.cn.

About Roan Holdings Group Co., Ltd.

Founded in 2009, Roan Holdings Group Co., Ltd. (OTC Pink: RAHGF and RONWF) is a financial, insurance and healthcare related solutions company serving individuals and micro-, small- and medium-sized enterprises ("MSMEs") in China. Roan provides health management, assets management, and insurance, healthcare and consumer financing services to employees of large institutions. Roan has offices in Hangzhou and Beijing and subsidiaries in Hangzhou, Ningbo, Guangzhou, Shaoxing, Urumqi and Tianjin. For more information, please visit: http://www.roanholdingsgroup.com.  

Safe Harbor Statement

This announcement contains 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 relate to, among others, the consummation of the proposed transaction, and can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations of the consummation of the proposed transaction, 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. 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. The Company 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 law.

IR Contact:
At the Company:
Katrina Wu
Email: [email protected]
Phone: +86-571-8662 1775

Investor Relations Firm:
Janice Wang
EverGreen Consulting Inc.
Email: [email protected]
Phone: +1 571-464-9470 (from U.S.)
           +86 13811768559 (from China)

SOURCE Roan Holdings Group Co., Ltd.