Ideanomics signs with Huaxi for the underwriting of the NTS electric bus transaction | Zoom Fintech

Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”), one of the world’s leading financial services and asset digitization companies, is pleased to announce that it has entered into an agreement with Huaxi Securities Co., Ltd. as one of the many underwriters to participate in the NTS Electric Bus initiative underwriting. Ideanomics is in the final stages of negotiation with at least two other leading underwriters.

Huaxi Securities is a leading brokerage and investment banking company in China, ranked number one in the west China region in the center of Sichuan province. Customers serviceable under this agreement include, but are not limited to, NTS, Shenzhen National Transportation Services Limited, and Tianjin New Energy Electric Bus.

This agreement is part of the subscription and marketing of asset-backed securities in support of the electric bus modernization and replacement project mandated by the Chinese government. The initial tranche of funding that Ideanomics will serve, with regional partners such as Huaxi, is expected to be 57 billion RMB (around USD $ 8.5 billion), the final amount of funding is estimated to be approximately 260 billion RMB (about 38.8 billion US dollars).

About Huaxi Securities Co:
Huaxi Securities Co., Ltd. is a Chinacompany based mainly in the field of securities. The Company mainly has five segments. The Brokerage segment is primarily engaged in equities, securities investment funds and spot bonds. The Investment Banking Business segment is mainly engaged in securities underwriting, sponsorship and financial advisory activities. The Asset Management segment is primarily engaged in aggregate asset management activities, targeted asset management activities and asset securitization activities. The Self-Directed Companies segment is mainly active in equities, funds and bonds. The Futures Business segment is primarily engaged in the provision of term brokerage services and term investment advice through its portfolio subsidiaries.

About Ideanomics
Ideanomics seeks to become a leading financial technology company by combining transaction origination and activation with the application of blockchain and artificial intelligence technologies as part of the next generation of financial services.

The company is headquartered in New York, New York State, and has offices at Hong Kong and Beijing, China. It also has a planned global center for technology and innovation in West Hartford, Connecticut, named Fintech Village.

Safe Harbor Declaration
This press release contains certain statements which may include “forward-looking statements”. All statements other than statements of historical fact included in this document are “forward-looking statements”. 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, and include statements regarding our intention to do so. evolving our model of a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our petroleum trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks and uncertainties, and these expectations may prove to be inaccurate. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The actual results of the Company could differ materially from those anticipated in these forward-looking statements due to various risks and uncertainties, such as risks relating to: our ability to continue to operate; our ability to raise additional financing to meet our business needs; the transformation of our economic model; fluctuations in our operating results; the strain on our people management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior executives; competitive pressure; our international operations; and other risks and uncertainties disclosed in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Position and Results of Operations” in our most recent Forms 10-K and 10-Q filed with the Securities and Exchange Commission, similar disclosures in subsequent reports filed with the SEC, which are available on the SEC’s website at www.sec.gov. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these risk factors. Except as required by securities laws, the Company assumes no obligation to update these forward-looking statements.

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