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BEIJING - Pintec Technology Holdings Limited (NASDAQ:PT), a micro-cap fintech company with a market value of $15.21 million, announced Friday that directors Chao Chen and Tixin Li have resigned from the company’s board, with their departures not resulting from any disagreements with the company. According to InvestingPro data, the company currently shows weak financial health with an overall score of 1.5 out of 5.
To fill these vacancies, the financial technology platform has appointed Xin Yang and Hao Liu as new board members.
Yang has served as Pintec’s chief financial officer since December 2023 and brings 20 years of accounting and financial management experience. Prior to joining Pintec, he was chief financial officer at Shenzhen Longchengfa Technology from 2021 to 2023.
Liu currently serves as an independent director of 3E NETWORK TECHNOLOGY GROUP LIMITED (NASDAQ:MASK) and previously held positions as co-founder and CEO of Jeethen Capital from 2020 to 2024. His experience includes serving as CEO and director at Mercurity Fintech Holding Inc. (NASDAQ:MFH) in 2021 and as chief technology officer at Huasheng Securities from 2017 to 2019.
Jun Dong, chairman of Pintec’s board, expressed gratitude to the departing directors and welcomed the new appointees, stating they would "strengthen the Board and support PINTEC’s continued growth and innovation," according to the company’s press release statement.
Pintec Technology describes itself as a technology platform that enables innovative financial and digital solutions for businesses worldwide.
In other recent news, Pintec Technology Holdings Limited announced a significant development involving a share transfer agreement with ZIITECH PTY LTD and certain ZIITECH shareholders. Pintec will acquire a 25% stake in ZIITECH by obtaining 715,521 ordinary shares. In return, Pintec will issue 83,726,789 Class A ordinary shares to the transferring shareholders. This agreement was signed on September 3, marking a notable step in Pintec’s strategic initiatives. These recent developments highlight Pintec’s ongoing efforts to expand its financial services platform. The transaction reflects a mutual exchange of equity interests between the two companies. Pintec’s engagement in this share exchange agreement underscores its commitment to growth and collaboration within the financial technology sector.
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