NEW YORK, Jan. 13, 2016 /PRNewswire/ -- Wins Finance Holdings Inc. (Nasdaq: WINS) ("Wins Finance" or the "Company"), today announced that its wholly-owned subsidiary, Jinshang International Financial Lease Co., Ltd, entered into a purchase-and-lease-back agreement valued at RMB100 million (US$15.42 million) with Liaoning Sg Automotive Group Co., Ltd. ("SG Automotive Group"), a leading Shanghai Stock Exchange-listed automobile manufacturer that is focused on developing new energy vehicle technology.
"The new energy vehicle industry is expanding globally, and is an important component of global measures to reduce hydrocarbon consumption and carbon dioxide emissions. The new energy vehicle industry is one of the seven strategic emerging industries supported by the Chinese central government, which has promulgated a variety of supporting policies and regulations to create a beneficial environment for the development of this sector," said Renhui Mu, Co-Chief Executive Officer and Chief Operating Officer of Wins Finance. "Under the central government's policy of encouraging the development of new energy vehicles, the capital investment profile in this sector has become extremely attractive, and the sector will be an area of focus for Wins Finance's future business development activity."
"Our arrangement with SG Automotive Group facilitates our entry into this new business area by applying our purchase-and-lease-back model, which we expect to provide us with positive returns at relatively low risk," added Mr. Mu. "We look forward to expanding in this industry and see the financing as further evidence of our being recognized as a versatile and innovative lease financing provider."
About Wins Finance
Wins Finance is a financial holding company that provides integrated financing solutions to small and medium enterprises (SMEs) in China. Wins Finance's goal is to assist Chinese SMEs, including microenterprises, which have limited access to financing, to improve their overall fund-raising capability and enable them to obtain funding for business development. Since its establishment in 2006, Wins Finance has helped various SMEs obtain funding by providing them financial guarantees and financial leasing, as well as advisory services. Wins Finance is building upon its core financial services business in China to create a comprehensive asset management platform, offering its clients access to high quality proprietary assets in both China and the United States. For more information, please visit www.winsfinance.com.
This news release includes forward-looking statements. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions and analyses made by the Company in light of current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results and developments will conform to the Company's expectations and predictions is subject to a number of risks and uncertainties, including the risk that the Company's efforts to expand into the new energy vehicles leasing sector will not be successful, and the risks described in Wins Finance's Quarterly Report on Form 10-Q filed on November 16, 2015 and in its other filings with the Securities and Exchange Commission.
Richard Xu, President Wins Finance Holdings Inc. 590 Madison Avenue, 21st FL New York, NY 10022 Tel: 646-480-9882 Email: email@example.com
SOURCE Wins Finance Holdings Inc.