eResearch | Peak Positioning Technologies (CSE: PKK) announced today that their Asia Synergy Data Solutions (“ASDS“) subsidiary is working with the Jiangyin Municipal Government and the Jiangyin Federation of Industry and Commerce in China to help distribute financial aid, in the form of low-interest loans, to Small-and-Medium Enterprises (SMEs) that were affected by the COVID-19 outbreak.
According to a February 25 Bloomberg article “China Pledges Cheap Credit and Tax Cuts to Aid Small Firms”, the People’s Bank of China will offer 500 billion yuan (US$71.2 billion) of funding to commercial lenders for loans to SMEs and the agricultural sector to support the virus-weakened economy.
The Jiangyin Municipal Government has launched a website (www.jysmefund.cn) to distribute part of those funds to affected SMEs in the city of Jiangyin and will be promoted at most branches of the banks operating in Jiangyin.
The Jiangyin Municipal Government selected ASDS’ Cubeler Lending Hub platform to help qualify the SMEs.
The Cubeler Lending Hub platform uses an Analytics and Artificial Intelligence engine to apply a variety of rules and criteria to quickly process credit requests and render decisions.
ASDS and the Jiangyin Municipal Government are currently working on integrating the Cubeler Lending Hub platform into the new website and expect to complete the project by mid-April.
//
| In early March, eResearch initiated coverage on Peak Positioning with a Buy rating and one-year price target of C$0.20/share.
You can download the full 42-page report by clicking here: eR-Peak_PKK-IR-2020_03_04_FINAL |
//
Diagram 1: Peak’s Six Operating Subsidiaries in China Focusing on FinTech Solutions
//
