SOURCE: Fincera Inc.

Fincera Inc.

October 28, 2015 16:05 ET

Fincera Provides 2015 Third Quarter Business Update, Announces Launch of Trucking Ecommerce Platform TruShip

SHIJIAZHUANG, CHINA--(Marketwired - Oct 28, 2015) -  Fincera Inc. ("Fincera" or the "Company") (OTCQB: AUTCF), a leading provider of web-based financing and ecommerce services for China's transportation and automobile industries, today provided an operational update on the 2015 third quarter ended September 30, 2015, and announced the launch of its ecommerce platform for the trucking industry in China called TruShip.

Third Quarter 2015 Business Update
Since their initial launches at the end of 2014, the Company's small business lending platform CeraVest (www.qingyidai.com) and its electronic payment platform CeraPay (www.dianfubao.com) have continued to achieve steady growth.

From its inception in November 2014 through September 30, 2015, CeraVest has originated over RMB2 billion in loans. CeraVest had a loan portfolio of approximately RMB1.6 billion at September 30, 2015. Fincera created CeraVest as an online lending marketplace that provides short-term operating capital for small businesses in the transportation industry. Through CeraVest, Fincera can originate loans and then sell those loans to investors. Currently, individuals may invest on the CeraVest platform and earn an annual interest rate of approximately 8.6%. Fincera earns origination fees on CeraVest loans.

Also launched in November 2014, the Company's electronic payment platform CeraPay was used to make payment transactions totaling over RMB1.1 billion in September 2015. Fincera developed CeraPay as a convenient platform through which customers can make electronic payments and the Company can make credit advances to its customers, allowing customers to pay for their everyday truck-operating needs at participating merchants within the CeraPay network. Fincera earns transaction fees through its CeraPay platform. The CeraPay network had over 28,000 active users (individuals and merchants) during the month of September.

The Company recorded 150 new leases of commercial vehicles (primarily Class 8 heavy trucks) as part of its legacy truck-leasing business in the third quarter of 2015, compared to 3,409 vehicles leased in the third quarter of 2014. As previously announced, Fincera's legacy truck-leasing business ceased initiating new leases in August 2015 as the Company is focusing on developing its Internet-based businesses. At September 30, 2015, the Company had 15,020 leased vehicles under its sales-type leasing program.

During the 2015 third quarter, the Company closed two sales and service centers located in Hebei and Shandong provinces. As of September 30, 2015, Fincera operated 553 sales and service centers in 26 provinces, municipalities, and autonomous regions.

Launch of New Ecommerce Platform TruShip
Fincera also announced the October 15 launch of TruShip (www.che001.com), a new ecommerce platform that enables trucking industry merchants, such as truck dealerships and leasing companies, to establish an online presence. This presence includes an online store-front that can display inventory and complete sales transactions through Fincera's proprietary closed-loop payment network CeraPay. At TruShip, truck owners and owner-operators can easily access a wealth of information prior to making purchase decisions and also enjoy the convenience of making payments online.

Traditionally, most truck purchases are made completely offline. Fincera provides CeraVest-financing incentives to merchants that use TruShip to transact and collect payments online using CeraPay. Through this system, the Company will also be able to collect transaction data and use it to more effectively underwrite CeraVest loans, which provides merchants with better access to affordable financing on CeraVest. Fincera will also collect a nominal fee of 0.02% per transaction from the merchant conducting the sale using TruShip.

As part of TruShip's ongoing development, the Company expects to launch a shipping marketplace in December. This marketplace will allow truck operators and logistics agencies to connect to conduct shipping transactions. The Company is also working to make advertising and marketing services to truck dealerships and manufacturers available on TruShip in the near future.

Mr. Yong Hui Li, Fincera's Chairman and CEO, stated, "As CeraVest and CeraPay continue to gain traction, we are excited to be launching TruShip, which we believe is a natural extension of our existing Internet-based offerings for China's transportation industry. We developed TruShip to be a platform that would help foster the best possible online relationships between consumers and merchants in the trucking sector. In the past, that experience required a great deal of time and effort from the consumer. But with Truship, consumers can now access information on merchants and their available offerings quickly and easily without leaving the comfort of their home or business, making the buying experience much more informed and efficient. Merchants will have increased exposure to a targeted customer audience through their online store-fronts, and the ability to transact online via our CeraPay network will change the way business is done in the trucking industry, connecting consumers to the products they want faster than ever before. With the launch of TruShip Ecommerce, we are working in earnest on the next phase of this product -- TruShip Logistics -- and look forward to continuing to provide our customers with innovative ways in which they can more efficiently grow their businesses."

About Fincera Inc.:
Founded in 2005, Fincera Inc. (OTCQB: AUTCF) provides innovative web-based financing and ecommerce services for China's transportation and automobile industries. The Company also operates over 550 sales and service centers in 26 provinces, municipalities, and autonomous regions across China. Fincera's current service offerings include a B2B payment network and a web-based small business lending platform. The Company's website is http://www.fincera.net. Fincera trades on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies. OTCQB companies are current in their reporting and undergo an annual verification and management certification process.

Safe Harbor Statement:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the Company. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of the Company's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to meaningfully differ from those set forth in the forward-looking statements:

  • Changing principles of generally accepted accounting principles;
  • Continued compliance with government regulations;
  • Legislation or regulatory environments, requirements or changes adversely affecting the transportation or financial services industry in China;
  • Fluctuations in consumer demand in the transportation industry;
  • Management of rapid growth;
  • General economic conditions;
  • Changes in government policy;
  • China's overall economic conditions and local market economic conditions;
  • The Company's ability to expand through strategic acquisitions;
  • The Company's business strategy and plans, including whether its new financial services products are accepted by consumers;
  • The results of future financing efforts; and
  • Geopolitical events.

The information set forth herein should be read in light of such risks. The Company does not assume any obligation to update the information contained in this press release.

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