Yiren Digital Denies Rumors Regarding Fixed-Income Product Liquidation

Deep News05-25

Recent market discussions have centered on the "orderly liquidation of fixed-income-like products by a leading loan facilitation platform." On May 25, Yiren Digital issued a statement clarifying its position. The company stated that as an independently operated, publicly listed entity, it operates within a distinct business system separate from other business segments. Its operations and management are completely isolated, ensuring independent and non-interfering business activities. Yiren Digital confirmed it does not engage in any wealth management-related businesses.

Recently, market information suggested that Yiren Digital's parent company, CreditEase, was conducting an "orderly liquidation" of its fixed-income-like products. As of the close of trading on May 22 (Eastern Time), Yiren Digital's (YRD.N) stock price plummeted by 14.44%, closing at $1.60, with a market capitalization of $140 million.

On May 25, inquiries regarding the product liquidation were made to CreditEase's customer service by a media representative. No effective feedback was received prior to the publication of this report.

It is understood that CreditEase was founded in 2006 and is headquartered in Beijing. Its business spans inclusive finance and wealth management sectors, encompassing publicly listed U.S. entity Yiren Digital and the non-listed CreditEase Wealth Management, among other entities.

Yiren Digital, formerly known as Yiren Jinke, underwent a brand upgrade to its current name in June 2024. Its predecessor, Yirendai, was listed on the New York Stock Exchange on December 18, 2015.

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