Yiren Digital addresses media reports about controlling shareholder affiliates

Yiren Digital Ltd. (NYSE: YRD) stated that recent media reports concerning financial products offered by affiliates of its controlling shareholder are not connected to the company's operations.

The Beijing-based fintech company said it operates independently with separate management, board of directors, financial reporting and daily operations from its controlling shareholder. Yiren Digital focuses on AI-enabled credit and insurance services and does not operate in unrelated business sectors.

The company said the matters referenced in media reports relate to controlling shareholder affiliates and do not affect its business operations. Yiren Digital continues operating normally and stated its operations remain unaffected.

Transactions between Yiren Digital and its controlling shareholder and affiliates are conducted on an arm's-length basis and disclosed in company filings according to Securities and Exchange Commission rules and regulatory requirements, the company said.

Yiren Digital specializes in digital consumer lending, insurance and financial technology across China and global markets. The company said it will make required disclosures under applicable laws, regulations and listing standards as appropriate.

The statement was based on a press release from the company.

You May Also Be Interested In

• AES stockholders approve $10.7 billion takeover by GIP and EQT
• Tianci International updates Zimbabwe gold and chromium project progress
• Universe Pharmaceuticals to acquire five-patent portfolio for $10.75M