Business
TNMD ANNOUNCES SIGNING OF LETTER OF INTENT WITH CHENGDU SHIDAIHONGRUI TECHNOLOGY CO., LTD., INTENDS TO ENTER TRILLION DOLLAR CHINA FINANCIAL SERVICE MARKET
TNMD ANNOUNCES SIGNING OF LETTER OF INTENT WITH CHENGDU SHIDAIHONGRUI TECHNOLOGY CO., LTD., INTENDS TO ENTER TRILLION DOLLAR CHINA FINANCIAL SERVICE MARKET.
About this update from Tianrong Med Group, Inc.
[{"type":"text","content":"Tianrong Medical Group, Inc. (OTC: TNMD) today announced that its wholly-owned subsidiary, China based Sichuan HuanMedia Co. Ltd. ( https://www.huanmedia.com ) has signed a Letter of Intent (LOI) to acquire a majority stake in Chinese financial service company, Chengdu Shidaihongrui Technology Co., Ltd. (CST), which would launch the Company’s entrance into China’s booming $1.5 trillion financial service sector. The internet has played a major role in the rapid development of China’s financing industry.CST has developed processes and collaboration methodologies that link financial institutions, banks, credit bureaus, retailers and online malls together, in order to provide users a flexible and effective financing vehicle for their purchases.CST has mainly focused on the 3C (Computers, Communications and Consumer Electronics) markets and offers flexible financing for cell phones, laptop computers, tablets, game consoles, TV’s, etc. The financing has generated over 40 million RMB ($6.25 million) in merchandise purchasing cash flow and CST is expanding at a rate of 2 to 3 times per year. In addition to the 3C markets, CST is aggressively expanding to the automobile, home renovation & improvement, furniture, life and beauty sectors. These sectors will drive a much more rapid growth for the company.Howard He, CEO of Huanmedia said, “ This proposed acquisition is an excellent opportunity for both Huanmedia and Shidaihongrui. The financing business can be enhanced dramatically with the collaboration of CST’s valuable assets. Huanmedia will offer the Big Data analytical expertise to drive target customer acquisition. CST offers flexible, easy monthly payments at reasonably low interest rates, so that the user can pay off the purchases in a time frame that fits his or her budget and keep the funds in the bank for unexpected expenses.”HuanMedia was established in 2013 and started off as China’s number one railway transportation Wi-Fi operator and a leader in China's rail transportation information services. It focuses on the construction and operation of mobile internet in the field of public transportation, internet product development and distribution, big data analysis and scene-based precision marketing services. HuanMedia will now bring the same expertise, technology and strategy to expand into horizontal business sectors, such as...