Credit China Fintech plans to expand its investments in peer-to-peer lending and payment companies; it invests in companies in the fintech industry and has recently invested in Ping An Securities Group Holdings Ltd. and blockchain technology firm BitFury Group Ltd.; recent investments have caused some scrutiny from short seller Anonymous Analytics which negatively affected the stock price in December 2016; the firm's stock price has regained its value since then with a current market capitalization of approximately $3 billion; over the past three years the firm has raised HK$4.3 billion ($554 million) and it plans to acquire at least one more company in the first quarter of 2017. Source
Credit China Fintech is forming a consortium to acquire a 36.58% equity interest in Ping An Securities Group (Holdings) Limited; upon completion the consortium intends to make a cash offer for all of the issued shares of Ping An Securities; Credit China Fintech's CEO Phang Yew Kiat says, "Ping An Securities' product offerings are valuable resources that we believe will generate significant synergies with our existing businesses." Source
Under the new deal Credit China Fintech will invest $30 million into BitFury Group, a blockchain infrastructure provider; the new joint venture is focused on selling BitFury's bitcoin mining hardware; Phang Yew Kiat, vice chairman and CEO of Credit China Fintech told CNBC they are investigating using blockchain on fintech platforms which include both P2P lenders and payment services; Phang also stated they have a working prototype payment system using blockchain. Source