KUORA has formed a business partnership with China’s largest consumer finance company

September 27, 2024

KUORA has entered into a business cooperation agreement with Merchants Union Consumer Finance Company Limited.

Merchants Union Consumer Finance Company Limited was founded in March 2015. It is a licensed consumer finance company approved by the China Banking and Insurance Regulatory Commission and jointly established by China Merchants Bank (600036.SH) (03968.HK) and China Unicom (600050.SH) (00762.HK). Both parties hold 50% of the shares, and the registered capital is 10 billion yuan.

Merchants Union Consumer Finance Company Limited is the largest consumer finance institution in China, with a revenue of 19.602 billion yuan and a net profit of 3.6 billion yuan in 2023, both ranking first in the industry.

Merchants Union Consumer Finance Company Limited has a large number of untapped customers in the industrial sector who possess high skill levels and good reputations. KUORA is promoting Merchants Union Consumer Finance Company Limited in the industrial sector.

The contract signed by both parties is valid for one year and will be automatically renewed upon expiration unless objected to by either party, with a maximum term of three years.