MMTEC, INC. Announces Expansion of Its Business by Adding Investment Banking Service Line
BEIJING, June 21, 2019 /PRNewswire/-- MMTEC, Inc. (Nasdaq: MTC) ("MMTec" or the "Company") announced today that it had added a new financial advisory and investment banking business line to the roster of services it offers to its customers.
The underlying objective of this additional line is to help the Company to position itself as an investment and listing guidance service provider for offerings of the PRC-based high-value fast-growth enterprises on the US capital markets. The management believes that this expansion represents an added value that complements the Company's current business focus and its future goals.
The Company determined to pursue this expansion following its consideration of the current economic and market conditions in China and the US as well as of various growth trends in those respective markets. Particularly, the Company noted that (1) as a result of the PRC economic downturn, high-growth companies were assigned low P/E ratios, and (2) a number of PRC-based companies consistently expressed their interest in pursuing US market listings as their preferred strategies overseas. MMTec's early venture into this area showed positive market reception and feedback which allowed the Company to continue building on the strengths of this business line.
Under this new business line, the Company anticipates providing financial advising and investment banking services, including, among others, investments, restructuring, IPO and secondary offering guidance, and venture funding advice, for PRC-based small and medium-sized enterprises from various industries that seek access to the US capital markets. Specifically, the Company intends to assist its customers in financings and capital formation at different stages of their growth and development.
The Company maintains professional service teams in China and the US, offering extensive experience in domestic and international capital formation, restructuring, M&A, and related market knowledge. As the business growth needs change, the Company may determine to increase the size and distribution of its support team in the future.
ABOUT MMTEC, INC.
Headquartered in Beijing, China, our Company develops and deploys a series of platforms, including the ETN Counter Business System, the PTN Private Fund Investment Management System, the Personal Mobile Transaction Client System, the PC Transaction Client System, the Individual and Institutional Integrated Account Management System, and the Quantitative Investment Transaction Platform, which comprise a business chain that enables Chinese language speaking hedge funds, mutual funds, registered investment advisors, proprietary trading groups, and brokerage firms to engage in securities market transactions and settlements globally. For additional information about the Company please refer to its corporate website at http://www.51mm.com.
This press release may contain certain "forward-looking statements" relating to the business of MMTEC, Inc. and its subsidiary companies. All statements other than statements of historical fact included herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's ability to execute upon its new business line, the general ability of the Company to achieve its commercial objectives and deliver various services under this new additional business line; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's most recently filed periodic reports with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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SOURCE MMTEC, Inc.