Roan Holdings Group has announced the Company’s full Year 2019 Financial Results. According to the details, the company generated a total revenue of $135.938. In December 2019, the completed successfully acquired the 65.0177% equity interest in Lixin Financial Holdings Group Limited.
The company has reported the total value of loan was $35.1 million. The company generated an interest income of $2.8 million from providing financing arrangements to its customers via Zhiyuan Commercial Factoring.
Chief Executive Officer of Roan Holdings Group, Mr. Zhigang Liu said, “2019 was a crucially meaningful year for Roan. During the period, we decreased our direct lending business and disposed of Urumqi Fenghui Direct Lending Co., Ltd. (‘Feng Hui’) by terminating our related VIE agreements and removing the VIE structure, both of which we regarded as key steps in adjusting our business structure, enhancing our financial indicators, and optimizing our development strategy.”
“At the same time, we continued our national market strategy in 2019, with our subsidiaries conducting businesses mainly in Zhejiang and Guangdong provinces and contributing more revenue and profit to the Company,” Mr. Zhangiang Liu further added in the statement.
“At the beginning of 2019, we began a strategic cooperation with Zhejiang Lixin Enterprise Management Holding Group Co., Ltd. (‘Zhejiang Lixin’) and settled the terms for a business combination. This was ultimately accomplished through a share exchange with Lixin Cayman on December 20, 2019, and had helped to significantly improve the Company’s performance. We firmly believe that Lixin’s advantages in product development, market share, and management will help to enhance our asset quality, competitive advantages, and market value going forward,” Mr. Zhangliang Liu further added in the statement.
“Importantly, starting at the end of 2019, we established subsidiaries in the healthcare industry and began to cultivate long-term relationships with a variety of insurance service partners, medical service partners, and technology and big data partners to provide innovative insurance services, smart health medical services, data mining, and operations,” Mr. Zhangliang Liu concluded.