Fincera Inc. has received FINRA approval to change its ticker symbol to “YUANF“. Previously, the China based online lender had traded under “AUTCF”. Fincera trades on OTC Markets OTCQB. The Company’s common stock has been assigned a new CUSIP number of G3441J102 in connection with the corporate name change to Fincera Inc.
Yong Hui Li, Fincera’s Chairman and CEO, released a statement regarding the ticker change;
“We are pleased to be trading under our legal corporate name and new ticker symbol. The new ticker YUAN pays homage to our Company’s Chinese name—Kaiyuan— which has built a strong reputation in the trucking industry over the past two decades. In addition, yuan is a reference to the Chinese currency and can also mean the first of its kind, the original, or the beginning. We believe these changes more accurately reflect the company that Fincera has evolved into in recent years and look forward to moving forward on our mission of building an era of efficient and inclusive financial services in China.”
Fincera has transitioned into a successful online lender providing financing for small and medium-sized businesses and individuals in China. In 1994, Fincera’s management team was the first to introduce commercial vehicle financing to China’s transportation industry. Over the next 20 years, Fincera refined and evolved its business model to focus on affordable web-based financial and e-commerce services. Fincera currently operate four online platforms: CeraPay (垫付宝), a B2B payment platform, CeraVest (轻易贷), a small business lending platform, TruShip (1号车网), an e-commerce and shipping marketplace platform, and AutoChekk TM (车快快), an e-commerce platform focused on passenger cars. China has the largest online lending market in the world.