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BEIJING, Dec. 16, 2020 /PRNewswire/ Hexindai Inc. (NASDAQ: HX) ( Hexindai or the Company ), a social e-commerce platform in China, today announced that Beijing Hexin Yongheng Technology Development Co., Ltd. ( Hexin Yongheng ), a wholly-owned subsidiary of the Company, Kuaishangche Automobile Leasing Co., Ltd. ( Kuaishangche ), a company not directly associated with the Company, Hexin E-Commerce Company Limited ( Hexin E-Commerce ), and individual shareholders of Hexin E-Commerce have entered into an assignment and assumption agreement on December 16, 2020 (the Agreement ). Pursuant to the Agreement, Hexin Yongheng has agreed to assign and transfer to Kuaishangche the control over Hexin E-Commerce, in exchange for cash consideration of RMB 5 million (the Disposition ). Upon the closing of the Disposition, Kuaishangche will become the primary beneficiary of and have control of Hexin E-Commerce, and as a result, assume all assets and liabi