Business
Addentax Group Corp. Announces Strategic Fintech Initiative and Negotiations to Acquire Up to 20 Online Lending Platforms in Asia Pacific Representing Over 600,000 Customers and Estimated Annual Loan Volume Exceeding HK$25 Billion
Addentax Group Corp. (Nasdaq: ATXG) ("ATXG" or the "Company") announced today that it has entered into mature negotiations to acquire multiple leading online money lending platforms across the Asia Pacific region, with definitive agreements expected to be executed subject to the completion of ongoing negotiations, due diligence, regulatory approvals and other customary conditions.
About this update from Addentax Group Corp.
[{"type":"text","content":"SHENZHEN, China, March 17, 2026 /PRNewswire/ -- Addentax Group Corp. (Nasdaq: ATXG) ("ATXG" or the "Company") announced today that it has entered into mature negotiations to acquire multiple leading online money lending platforms across the Asia Pacific region, with definitive agreements expected to be executed subject to the completion of ongoing negotiations, due diligence, regulatory approvals and other customary conditions.","length":451,"tagName":"p"},{"type":"text","content":"These platforms operate digital lending businesses across the Asia Pacific region and provide services that include AI-supported credit assessment, digital asset-related financial services (where permitted by applicable regulations), and personal digital lending. These platforms are characterized by established user bases, proprietary risk control systems, operational efficiency and regional market presence. Upon completion of the proposed acquisitions, the combined platforms could create a large-scale digital credit platform with significant regional reach. Based on information provided by the target companies, the combined platforms currently serve more than 600,000 customers and generate an estimated aggregate annual loan origination volume exceeding HK$25 billion.","length":778,"tagName":"p"},{"type":"text","content":""We are pleased to announce this strategic acquisition initiative, which we believe has the potential to significantly expand Addentax's participation in the Asia Pacific fintech sector," said the Chief Executive Officer of Addentax, Mr. Hong Zhida. "These platforms represent innovative participants in AI-driven digital lending and emerging financial technologies. By potentially bringing them together under the ATXG umbrella, we aim to build a technology-driven digital credit platform with meaningful scale, technological capabilities and regional market reach. We believe this initiative could support long-term value creation for our stockholders, partners and customers across the Asia Pacific."","length":727,"tagName":"p"},{"type":"text","content":"The transactions are subject to customary closing conditions, including final due diligence, board approvals, approvals from relevant financial regulatory authorities in the jurisdictions in which the target companies operate and other customary ...