Fintech PR
Qudian Inc. Reports Third Quarter 2019 Unaudited Financial Results
Qudian Inc. (“Qudian” or the “Company”) (NYSE: QD), a leading technology platform empowering the enhancement of online consumer finance experience in China, today announced its unaudited financial results for the quarter ended Sep 30, 2019.
Third Quarter 2019 Operational Highlights:
- Total number of registered users as of Sep 30, 2019 reached 78.3 million, representing an increase of 11.8% from Sep 30, 2018
- Number of outstanding borrowers[1] from loan book business and transaction services business as of Sep 30, 2019 increased by 3.4% to 6.3 million from 6.1 million as of June 30, 2019
- Cumulative number of borrowers[2] from loan book business and transaction services business as of Sep 30, 2019 increased by 3.6% to 19.0 million from June 30, 2019
- New active borrowers[3] from loan book business and transaction services business for this quarter increased by 15.2% to 669,111 from 580,727 for the third quarter of 2018 as a result of incremental user growth driven by transaction services business
- Total outstanding loan balance including transaction services business[4]as of Sep 30, 2019 increased by 151.2% to RMB38.4 billion from Sep 30, 2018
- Weighted average loan tenure for our loan book business was 10.4 months for this quarter, compared with 8.4 months for the second quarter of 2019; Weighted average loan tenure for transactions serviced on open-platform was 13.0 months for this quarter, compared with 14.1 months for the second quarter of 2019
- Cumulative number of users for transactions serviced on open-platform as of Sep 30, 2019 increased by 153.3% to 1,057,497 from June 30, 2019 Cumulative amount of transactions serviced on open-platform in 2019 was RMB15.7 billion as of Sep 30, 2019
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[1] Outstanding borrowers are borrowers who have outstanding loans as of a particular date, including outstanding borrowers from both loan book business and transaction services business. Transaction services business, relates to various services, including credit assessment, referral and post-origination services, provided through our open-platform, which was launched in the second half of 2018. [2] Cumulative number of borrowers are borrowers who have drawn down credit on or prior to a particular date, on a cumulative basis, including outstanding borrowers from both loan book business and transaction services business. [3] Active borrowers are borrowers who have drawn down credit in the specified period from both loan book business and transaction services business. New active borrowers are active borrowers who had never drawn down credit on our platform prior to the specified period. [4] Includes off and on balance sheet loans directly or indirectly funded by our institutional funding partners or our own capital, net of cumulative write-offs. Includes loan balance facilitated through our open platform to funding partners which Qudian does not undertake credit risks and does not include auto loans from Dabai Auto business. |
Third Quarter 2019 Financial Highlights:
- Total revenues were RMB2,590.9 million (US$362.5 million), increased by 34.3% from same period last year, primarily due to the ramp up of the open-platform initiative
- Loan facilitation income and other related income increased by 72.6% year-on-year to RMB583.3 million (US$81.6 million) from RMB337.9 million for the same period last year
- Transaction services fee and other related income which relate to transaction services and traffic referral services provided by our open-platform, substantially increased to RMB993.3 million (US$139.0 million) from nil for the same period last year
- Financing income decreased by 16.9% to RMB797.9 million (US$111.6 million) from RMB960.2 million for the same period last year as a result of a decrease in average on-balance sheet loan balance
- Net income increased by 52.6% year-on-year to RMB1,043.4 million (US$146.0 million), or RMB3.29 (US$0.46) per diluted ADS
- Non-GAAP net income[5] increased by 52.9% year-on-year to RMB1,061.8million (US$148.6 million), or RMB3.34 (US$0.47) per diluted ADS
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[5] For more information on this Non-GAAP financial measure, please see the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this press release. |
“The third quarter marks our successful evolution to a balance sheet independent, technology services fee driven business. Our transaction services fee overtook as the largest in revenue scale and delivered staggering 150% growth from the previous quarter,” said Mr. Min Luo, Founder, Chairman and Chief Executive Officer of Qudian.
“In the face of a complex and evolving regulatory framework over the past several years we have proven our ability to lead and innovate, creating China’s leading regulatory compliant fintech company. Our past efforts in full compliance with Circular 141, restrained use of micro lending license, complete avoidance of P2P business model, 100% institutional funding base, disciplined approach to collection and respect of our customers’ data privacy have all cumulated to our open platform solution. Our open platform where the licensed and regulated financial institutions lend and assume borrowers risk while QD provides a full suite of transaction services using cutting edge technologies to enhance analytics, user experience, reduce customer acquisition and engagement cost, is likely to be the ultimate form of regulatory compliant fintech in China.”
“Our open platform technology enables high speed precision processing of micro loans while simultaneously syndicating each individual user to multiple lenders. This allows all our lender partners to lower risk while providing enhancement in credit size, allowing open platform to focus on the higher quality borrowers. As of the end of third quarter, our open-platform has bridged over 1,020,940 outstanding borrowers and 11 licensed and, regulated financial institutions, both more than doubling from last quarter. Notably, the repeat borrowing ratio was more than 70% for the quarter, demonstrating strong sustainability and user stickiness trends.”
“As a whole, our registered user base grew to 78.3 million and total outstanding borrowers reached 6.3 million, both the highest in our company’s history, illustrating the sustained demand for our services. With the right high-scale, risk-free and regulatory compliant approach to China’s exciting consumer credit opportunity, we believe Qudian remains best positioned to deliver exceptional financial results and returns to our shareholders for the long term.”
“We delivered another quarter of solid Non-GAAP net income of RMB1,061.8 million, a 52.9% year-over-year increase despite the overall industry credit deterioration driven by the macro economic environment and reduced liquidity as non-complaint player exit the credit market,” said Mr. Carl Yeung, Chief Financial Officer of Qudian. “Continuing last quarter’s momentum, our open-platform initiative has become the main growth and profit driver, generating RMB993.3 million revenue for the third quarter, which represents over 90% of our net profit, further boosting our bottom line, as it carries little marginal operational cost and zero credit risk.”
“Attracted by our affordable and seamless product offering, more than 669,000 new borrowers joined the platform with minimal acquisition costs. Our total loan balance including the risk-free open platform business has grown further to RMB38.4 billion, solidifying our strong execution capabilities to drive business development and focus on the higher quality borrowers. Building on the innovation in our open-platform, we will continue to pursue our tech-driven growth strategy to connect China’s over 300 million creditworthy but underserved consumers to more than 5,000 licensed domestic financial institutions.”
“In our risk undertaking business, we implemented a conservative strategy of reducing credit volumes and paused our credit trial program. Our proactive and prompt management of macro driven risk was effective in stabilizing the delinquency rates. To enhance comparability to peers and transparency in our disclosures, our M6+ vintage charge-off rates measured by current receivables at risk stayed below 1.6%. Although risk remains well managed, we believe the recent exit of many smaller players may create further credit liquidity pressure for the Chinese consumption credit sector. As such, we expect to continue a conservative approach on our risk-taking book into the final quarter of 2019 and thus revise our full year guidance accordingly.”
“Given a large disconnect between the strong momentum in our open-platform and risk-free fee based business model and the market value of our company which is near net assets, we have announced another US$195 million of shares under our forward stock repurchase program, bringing our total buyback amount to US$572 million since we became a public company. This reflects our confidence in Qudian’s growth prospects and upholds our commitment to creating shareholder value.”
Third Quarter Financial Results
Total revenues were RMB2,590.9 million (US$362.5 million), increased by 34.3% from RMB1,928.9 million for the third quarter of 2018.
Financing income totaled RMB797.9 million (US$111.6 million), a decrease of 16.9% from RMB960.2 million for the third quarter of 2018, as a result of a decrease in average on-balance sheet loan balance.
Loan facilitation income and other related income increased by 72.6% to RMB583.3 million (US$81.6 million) from RMB337.9 million for the third quarter of 2018, as a result of an increase in the amount of off-balance sheet transactions.
Transaction services fee and other related income substantially increased to RMB993.3 million (US$139.0 million) from nil in the third quarter of 2018, as a result of the ramp-up of the open-platform initiative.
Sales income substantially decreased to RMB135.5 million (US$19.0 million) from RMB586.1 million for the third quarter of 2018, due to the scaling down of the Dabai Auto business.
Sales commission fee increased by 96.0% to RMB69.9 million (US$9.8 million) from RMB35.7 million for the third quarter of 2018, due to an increase in the margins for merchandise credit products.
Total operating costs and expenses increased by 14.0% to RMB1,400.8 million (US$196.0 million) from RMB1,229.0 million for the third quarter of 2018.
Cost of revenues decreased by 70.5% to RMB206.3 million (US$28.9 million) from RMB698.5 million for the third quarter of 2018, primarily due to a decrease in costs incurred by the Dabai Auto business and a decrease in funding costs associated with the on-balance sheet portion of our loan book business.
Sales and marketing expenses decreased by 45.4% to RMB65.5 million (US$9.2 million) from RMB120.1 million for the third quarter of 2018. The decrease was primarily due to the scaling down of the Dabai Auto business.
General and administrative expenses increased by 34.9% to RMB65.1 million (US$9.1 million) from RMB48.2 million for the third quarter of 2018. The increase was primarily due to an increase in service fees.
Research and development expenses increased by 7.0% to RMB44.1 million (US$6.2 million) from RMB41.2 million for the third quarter of 2018.
Provision for receivables increased by 136.4% to RMB691.1 million (US$96.7 million) from RMB292.4 million for the third quarter of 2018. The increase was primarily due to an increase in past-due on-balance sheet outstanding principal receivables compared to the third quarter of 2018 and a write-down relating to the Dabai Auto business of RMB42.7 million (US$6.0 million).
As of Sep 30, 2019, the total balance of outstanding principal and financing service fee receivables for on-balance sheet transactions for which any installment payment was more than 30 calendar days past due was RMB970.6 million (US$135.8 million), and the balance of allowance for principal and financing service fee receivables at the end of the period was RMB1,184.5 million (US$165.7 million), indicating M1+ Delinquency Coverage Ratio of 1.2x.
The following charts display “vintage charge-off rate.” Total potential receivables at risk vintage charge-off rate refers to, with respect to on- and off-balance sheet transactions facilitated during a specified time period, the total potential outstanding principal balance of the transactions that are delinquent for more than 180 days during such period, divided by the total initial principal of the transactions facilitated in such vintage.
Current receivables at risk vintage charge-off rate refers to, with respect to on- and off-balance sheet transactions facilitated during a specified time period, actual outstanding principal balance of the transactions that are delinquent for more than 180 days during such period, divided by the total initial principal of the transactions facilitated in such vintage.
Total potential receivables at risk M1+ delinquency rate by vintage refers to, with respect to on- and off-balance sheet transactions facilitated during a specified time period, the total potential outstanding principal balance of the transactions that are delinquent for more than 30 days during such period, divided by the total initial principal of the transactions facilitated in such vintage.
Current receivables at risk M1+ delinquency rate by vintage refers to, with respect to on- and off-balance sheet transactions facilitated during a specified time period, the actual outstanding principal balance of the transactions that are delinquent for more than 30 days during such period, divided by the total initial principal of the transactions facilitated in such vintage.
Income from operations increased by 73.5% to RMB1,219.6 million (US$170.6 million) from RMB702.8 million for the third quarter of 2018.
Net income attributable to Qudian’s shareholders increased by 52.6% to RMB1,043.4 million (US$146.0 million), or RMB3.29 (US$0.46) per diluted ADS.
Non-GAAP net income attributable to Qudian’s shareholders increased by 52.9% to RMB1,061.8 million (US$148.6 million), or RMB3.34 (US$0.47) per diluted ADS.
Cash Flow
As of Sep 30, 2019, the Company had cash and cash equivalents of RMB2,656.1 million (US$371.6 million) and restricted cash of RMB981.6 million (US$137.3 million). Restricted cash mainly represents (i) cash held by the consolidated trusts through segregated bank accounts; (ii) time deposits that are pledged for short-term bank loans; and (iii) security deposits held in designated bank accounts for guarantee of off-balance sheet transactions. Such restricted cash is not available to fund the general liquidity needs of the Company.
For the quarter ended Sep 30, 2019, net cash provided by operating activities was RMB1,670.9 million (US$233.8 million), mainly attributable to net income of RMB1,043.4 million (US$146.0 million), adjustment of provision for receivables of RMB691.1 million (US$96.7 million). Net cash provided by investing activities was RMB438.6 million (US$61.4 million), mainly due to proceeds from collection of loan principal of RMB5,779.4 million (US$808.6 million), partially offset by payments to originate loan principal of RMB5,279.4 million (US$738.6 million). Net cash used in financing activities was RMB1,919.4 million (US$268.5 million), mainly due to repayments of borrowings of RMB2,752.5 million (US$385.1 million) and prepayment of forward purchases of RMB1,383.1 million (US$193.5 million), partially offset by net proceeds from convertible senior notes of RMB2,389.0 million (US$334.2 million).
Board Member Changes
We also announced today the replacement of Mr. Lianzhu Lv from Qudian’s Board of Directors by Mr. Long Xu, Qudian’s Senior Vice President.
With extensive experience managing startups, Mr. Xu joined Qudian, Inc. in 2016 and has focused on key operations including products, human resources and customer engagement. Mr. Lv will remain as key management of the company focusing on administration.
Outlook
Due to recent strategy for the company to reduce risk-taking loan balance and focus on higher quality borrowers via open-platform, the Company has adjusted its expected total Non-GAAP net income for the full year of 2019 to RMB4.0 billion, which will represent an approximately 57% increase from RMB2.55 billion for 2018.
The above outlook is based on current market conditions and reflects the Company’s preliminary expectations as to market conditions, its regulatory and operating environment, as well as customer demand, all of which are subject to change.
Qudian to Hold Annual General Meeting on December 30, 2019
Qudian announced that it will hold its annual general meeting of shareholders (the “AGM”) at Level 39, Tower A, AVIC Zijin Plaza, Siming District, Xiamen, Fujian Province, China, on December 30, 2019 at 11:00AM (Beijing / Hong Kong Time). No proposal will be submitted to shareholders for approval at the AGM. Instead, the AGM will serve as an open forum for shareholders and holders of the Company’s ADSs to discuss the Company’s affairs with management. The chairman of the AGM will conduct and lead the AGM and may accept questions from shareholders at his sole and absolute discretion.
The board of directors of the Company has fixed the close of business on December 6, 2019 (Eastern Standard Time) as the record date (the “Record Date”) for determining the shareholders entitled to receive notice of and attend the AGM or any adjournment or postponement thereof.
Holders of record of the ordinary shares, par value US$0.0001 per share, of the Company (the “Ordinary Shares”), at the close of business on the Record Date are entitled to attend the AGM and any adjournment or postponement thereof in person.
The notice of the annual general meeting is available on the Company’s website at http://ir.qudian.com. The Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2018 with the U.S. Securities and Exchange Commission (the “SEC”) on April 15, 2019. Holders of the Ordinary Shares and the Company’s American depositary shares may obtain a copy of the Company’s annual report on Form 20-F, free of charge, from the Company’s website at http://ir.qudian.com, or from the website of the U.S. Securities and Exchange Commission at http://www.sec.gov, or by contacting Qudian at Level 39, Tower A, AVIC Zijin Plaza, Siming District, Xiamen, Fujian Province, China, attention: Mr. Ben Zhao, email: [email protected].
SOURCE Qudian Inc.
Fintech PR
2025 Will See Increased QR Code Payments but Payment Card IC ASPs Will Not Return to Pre-Covid Levels
ABI Research’s 5th annual Trend Report identifies the key Digital Payment Technologies trend that will come to fruition —and the 1 that won’t—in 2025
NEW YORK, Dec. 24, 2024 /PRNewswire/ — As 2025 kicks off, predictions abound on the technology innovations expected in the year ahead. In its new whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025, analysts from global technology intelligence firm ABI Research. ABI Research analysts identify 54 trends that will shape the technology market and 47 others that, although attracting vast amounts of speculation and commentary, are less likely to move the needle over the next twelve months. In the Digital Payment Technologies space, 2025 will see increased QR code payment acceptance but little growth for payment card IC ASPs.
“2024 has been marked by challenges, from global conflicts and inflationary pressures to political uncertainty. These factors have strained enterprise and consumer spending, leading to market inertia, short-term technology investments, sidelined capital, and the exposure of vulnerable suppliers,” says Stuart Carlaw, Chief Research Officer at ABI Research. “From a technology perspective, many industries and end markets are in that awkward stage of technology adoption where they are formulating implementation strategies, assessing solutions and partners, and trying to see if they have the resources needed to roll out solutions at scale. This is a particularly sensitive time, which tends to suggest 2025 will have tech implementers and end users on the brink of a period of a massive technology shift as they work through these issues.”
What Will Happen in 2025:
QR code payment acceptance will continue to increase with use cases expanding
Although QR code payment acceptance is prevalent in countries such as China and growing in emerging digital payment markets, including in India, use cases and potential growth areas are not limited to these countries. Significant and continued investments by vendors, including PayPal, Stripe, and SumUp, are setting the foundation for increased adoption in other mature and established economies with use cases expanding. Although QR codes are already being used by many Small and Medium Enterprises (SMEs) and pop-up retail businesses, 2025 will mark the year when the technology begins to shift from one niche to partial mainstream.
What Won’t Happen in 2025:
Payment card IC ASPs will not return to pre-COVID-19 levels
Since the COVID-19 pandemic, chipset pricing has been on a continual rise, driven by increased pricing in myriad manufacturing areas, including energy, raw material, transit pricing, and inflation, driving up wages. The chip shortage further compounded this, and according to ABI Research, the Average Selling Price (ASP) for a payment card Integrated Circuit (IC) increased by approximately +30% between 2020 and 2023. However, despite pricing pressures returning, the cost of payment ICs is some years away from matching pre-COVID-19 levels. Although 2025 will mark another year of pricing deprecation, it will not be until around 2028 when pricing is expected to drop to levels similar to those achieved in 2019 steadily.
For more trends that will and won’t happen in 2025, download the whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司，拥有得天独厚的优势，充当终端市场公司和技术解决方案提供商之间的桥梁，通过提供独家研究和专业性指导，推动成功的技术实施和提供经证明可吸引和留住客户的战略，无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:
Global
Deborah Petrara
Tel: +1.516.624.2558
[email protected]
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Fintech PR
Bybit Champions Web3 Innovation and Strengthens Ties with Asia’s Crypto Community at Taipei Blockchain Week
DUBAI, UAE, Dec. 24, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange, debuted at the Taipei Blockchain Week Dec. 12 to 14, 2024, spotlighting the vibrant Web3 innovations on its platform alongside a dynamic roster of its strategic Layer 1 ecosystem partners.
Featuring side events in collaboration with the Solana Foundation, the Sui Foundation, and a dazzling lineup of multichain projects, Bybit Web3 dedicated the Taipei tour to building up communities and deepening connections with Web3 ecosystem partners. The Bybit delegation also took the stage to uncover the latest insights on Web3, building with a purpose, and the future of blockchain utilities and DeFi.
Purpose, Innovation, and Partnerships
Representing Bybit at the conference were MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3, and Angela Huang, Bybit VIP Relationship Manager, at various panels.
Expanding on blockchain technology’s potential in building better realities for all, Chin joined as a panellist in the session Marketing Web3: Strategies to Engage and Onboard the Next Billion Users. Chin shared learnings and actionable insights from the Bybit-supported Blockchain for Good initiative (BGA), elaborating on both real-world utilities of blockchain technologies and the trickling down of benefits to grassroot communities.
Meanwhile, Angela Huang moderated three sessions closely tied to Bybit’s mission, steering conversations on crucial industry topics:
- The panel Bridging TradFi and DeFi: The Exchange’s Role in User Onboarding on Dec. 12 examined how exchanges could elevate access to the digital economy for users at scale.
- On Dec. 13, Networked Intelligence: The Rise of Decentralized AI explored the intersection of blockchain and AI, showcasing their potential to transform and democratize finance.
- The Building for Impact: How Female Founders Drive Purpose-Driven Innovation panel on Dec. 14 highlighted the evolving role of women leaders in driving solution-oriented innovation.
Another highlight at the event was amplified globally via Bybit Livestream. Collaborating with the Sui Foundation, Ondo, DeepBook, Scallop, NAVI, and other leading projects, Bybit Web3 led a critical debate on the future of Sui’s growth strategy: Sui Ecosystem Showdown: Mass Adoption vs. Native Growth. Hosted by Emily Bao, Head of Web3 and Spot at Bybit, the livestream attracted over 6,500 viewers live at the Taipei Blockchain Week and globally on Dec. 13.
Deepening Bonds: Key Web3 Ecosystems and Communities
Bybit Web3 brought the local community closer to its world-class ecosystem partners with engaging community events, co-hosting Taiwan DeFi Flow with Sui and Scallop on Dec. 12, and Solana Ecosystem Taipei Greetings with the Solana Foundation and Solar with the support of Orderly Network, Zetachain, Jupiter, and Sonic, on Dec. 14. Through collaborations and innovation, Bybit Web3 opens up new on-chain possibilities for partners and stakeholders to expand the Web3 universe.
These relaxed evening gatherings provided a convivial backdrop for like-minded builders and entrepreneurs to network, exchange ideas, and celebrate their shared enthusiasm for DeFi and dApps in Asia’s growing Web3 innovation hub.
“It’s been an incredible experience connecting with the builders, believers, users, creators, and supporters driving innovation on Solana and Sui. These moments remind us of the heart and spirit of Web3—a vibrant ecosystem shaped by collaboration and shared vision. I’m deeply proud to witness this growth, grateful for every connection made, and excited for the road ahead,” said MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3.
“Taipei Blockchain Week showcased the immense growth and potential of Web3 innovation in Asia. Representing Bybit, I had the honor to collaborate with industry leaders to explore Web3’s limitless possibilities, from DeFi and AI to real-world applications. Together, we are shaping a more inclusive global crypto community,” said Angela Huang, Bybit VIP Relationship Manager.
In the past year, Bybit has seen exponential growth in its user base, surging to over 60 million by the end of 2024. It has also invested in vertical growth through community engagements across the world. Connected by the passion for the future of crypto, blockchain, and Web3, the Bybit family is on track to building an inclusive and sustainable path to growth for the industry.
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit Web3, please visit Bybit Web3.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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TIANJIN, China, Dec. 24, 2024 /PRNewswire/ — On December 7, 2024, AIMA Technology Group warmly invited a delegation of five top-performing U.S. IBD dealers to visit its headquarters. Accompanying the group was Angela Zheng, CEO of AIMA’s U.S. subsidiary, AIMA EBIKE, along with her sales, marketing, and customer service teams. This visit not only marked a deepened connection between AIMA and the mainstream U.S. market but also provided U.S. dealers with a valuable opportunity to witness AIMA Technology’s globally leading capabilities in research, development, and manufacturing of electric mobility solutions.
The delegation first toured AIMA’s state-of-the-art factory in Tianjin. Aima Technology possesses production factories with extremely high levels of intelligent manufacturing Additionally, AIMA has integrated advanced technologies such as AI visual recognition and established a CNAS-certified R&D laboratory, maintaining its industry leadership in intelligent transformation. During the tour, the dealers were deeply impressed by AIMA’s cutting-edge technology, large-scale production capabilities, and relentless pursuit of excellence in product development and manufacturing. They expressed that this rare visit not only enhanced their understanding of AIMA but also strengthened their confidence in promoting AIMA products as a symbol of outstanding performance and exceptional quality to their customers.
Furthermore, AIMA Technology’s R&D team engaged in in-depth discussions with the dealers regarding the new models AIMA EBIKE plans to launch in 2025. The dealers test-rode prototypes of the latest models and shared their innovative insights. They expressed high praise for AIMA’s product innovation capabilities and market acumen, recognizing these as key factors that distinguish AIMA in the industry.
Later, the dealers joined AIMA Technology’s team to witness the rollout of the 10,000th AIMA E-Bike. This milestone moment showcased AIMA’s exceptional manufacturing strength and market influence. The dealers were inspired and expressed strong confidence in the promising future of their partnership with AIMA.
This visit from the top-tier U.S. dealer delegation not only deepened mutual trust and friendship but also injected new momentum into AIMA’s ambition to become a leader in the U.S. E-Bike industry by focusing on the IBD channel. Looking ahead, AIMA Technology will continue to strive to provide market-leading performance and quality, enhancing its product development and manufacturing capabilities while working hand-in-hand with global dealers to create an even brighter future.
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