Guotai Jun’an buys 10% stake of HMYD.com

By Vera Ye | September 17, 2015, Thursday |

Online Edition

HMYD.COM, a Shanghai-based online financial platform, announced that Guotai Jun’an Investment Management Co Ltd (GIMC) has acquired 10 percent of its equity for an undisclosed amount.

Established in April with a registered capital of 100 million yuan (US$15.7 million), HMYD.com provides small- and medium-sized enterprises a funding channel while offers retail investor access to investment projects in fields of factoring, financial leasing and entertainment.

China’s Internet finance industry is going from boom to bust as dozens of peer-to-peer lending websites went bankruptcy as borrowers default on loans.

HMYD said it is joining hand with traditional financial institutions such as financial guarantee firms, banks and brokerages to ensure the reliability of its investment projects.

“The industry is facing reshuffle after a period of rapid expansion,” said Bai Bing, chief executive officer of HMYD, “They key to existence is to ensure the transparency of fund flows and strengthen business risk control.”

Business Finance

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Guotai Jun’an buys 10% stake of HMYD.com

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