The investment entails a senior loan to Chongqing Xiaomi Microfinance Co., Ltd. (“Xiaomi MCC”, or the “Company”). Xiaomi MCC, wholly owned by Xiaomi Corporation, was established in June 2015.
Xiaomi MCC provides consumer loans and installment loans using its big data-based credit assessment methodology. Along with its new retail strategy, Xiaomi MCC is expanding its product offering to micro, small, and medium enterprises (“MSMEs”). The proposed senior loan will be on-lent to MSMEs in low tier cities and counties to support their business operation.
Xiaomi MCC is registered in Chongqing, China, and provides loans to borrowers throughout the country. The IFC Loan will be used for on-lending to MSMEs located in low tier cities and counties to support their business operation.
Xiaomi MCC is indirectly wholly owned by Xiaomi Corporation, through Xiaomi Finance Inc. and Xiaomi Finance HK Limited. Founded by Mr. Lei Jun in 2010, Xiaomi Corporation is a mobile internet company developing smartphones and smart hardware/devices and providing internet services. Xiaomi Corporation was listed in HK Stock Exchange on July 9, 2018.
1/ The Project Contact
Chongqing Xiaomi Microfinance Co., Ltd.
Ms. Yuru Yang
2/The IFC Contact
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
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