Peak Fintech Group Inc.: Peak 2020 Revenues Top $40M in Audited Year-End Financial Results
Montreal, Quebec (Newsfile Corp. - April 30, 2021) - Peak Fintech Group Inc. (CSE: PKK) ( Peak or the Company ) today announced its financial results for the year ended December 31, 2020. The Company reported revenue in excess of $40M for the year, in line with what it had forecasted, despite some headwind from the COVID-19 pandemic during the year. All amounts expressed are in Canadian dollars.
2020 Financial Highlights:
2020
($3,608,920)
1 Expenses do not include interest, taxes, depreciation (including impairment of intangible assets) loss on settlement of debt, gain on bargain purchase and amortization
Article content
2 Adjusted EBITDA equals net income (loss) before finance costs, taxes, depreciation, amortization and impairment of intangible assets, loss on extinction of debt, gain on bargain purchase and amortization
2020 Operating Highlights:
Expansion of operations to Shanghai commercial credit market
Partnership to help distribute COVID-19 financial aid from Jiangyin municipal government to city’s affected businesses
Addition of several new Jinxiaoer Service Centres, including in the cities of Changzhou, Suzhou, Nanjing and Taiyuan
Addition of several new lenders to the Lending Hub, bringing the number of banks and lending institutions in the ecosystem to more than 50
Integration of the Jinxiaoer loan brokerage platform to the Lending Hub ecosystem
(2)
Montreal, Quebec (Newsfile Corp. - February 16, 2021) - Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) ( Peak or the Company ), an innovative Fintech service provider to the Chinese commercial lending sector, today provided the following update on select segments of its operations for the first half of Q1 2021 while China pauses to celebrate the Chinese New Year / Spring Festival Holiday.
SOCIAL MEDIA INFLUENCERS FINANCING PROGRAM
After spending several months in 2020 building relationships with over 55,000 social media influencers who collectively have more than 120M followers, Peak created a program to help these influencers finance the online retail shows they use to sell goods ranging from cosmetics to household appliances to their millions of followers. The program launched earlier this year and helped finance about CAD$1M worth of goods during its first week. Since then, it has become one of the more consistent transaction generators on the Lending Hub platform, out
(2)
Montreal, Quebec (Newsfile Corp. - January 28, 2021) -Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) ( Peak or the Company ), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that beverage distributor Xiamen Guangzhui Ltd. ( Xiamen ) became the third distributor after Beijing Dianjing Company Ltd. and Beijing Jingying Corporate Management Ltd. to join the Company s program specifically created to bring financing solutions to wholesale distributors and their retail clients through the Cubeler Lending Hub platform.
Xiamen has over 1,100 retail clients, including e-commerce giant JD.com, and owns distribution rights to several popular beverages in China, including exclusive rights for Red Bull energy drinks at PetroChina convenience stores in Guizhou province. Xiamen expects to distribute approximately 24 million cans of Red Bull per year worth about CAD$ 19.6M and will now use Peak s Lending Hub powered program to finance its a
Peak Fintech Group Inc.: Peak Provides Corporate Update on Recent Events and Operations
Montreal, Quebec (Newsfile Corp. - December 15, 2020) - Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) ( Peak or the Company ), an innovative Fintech service provider to the Chinese commercial lending sector, today provided the following update on its operations and recent events that have occurred since the end of the Company s third quarter of 2020.
JIANGYIN FINANCIAL CENTRE
Summary and Update:
The Jiangyin Financial Centre is an initiative of the city s municipal government. The city invited its 200,000+ businesses to join the Financial Centre to qualify for loans and credit from 34 banks and lending institutions based on data analysis and AI-based credit rules powered by the Lending Hub. Since its launch in late September, the Financial Centre has been responsible for almost 100 transactions and has brought more than 3,000 SMEs and several new raw material suppliers to the Lending Hub