Roan Holdings Group Co., Ltd Reports Full Year 2019 Financial Results.

BEIJING and HANGZHOU, China: Roan Holdings Group Co., Ltd. ("Roan" or the "Company") (OTC Pink Sheets: RAHGF and RONWF), a non-bank financial corporation serving individuals and micro-, small-, and medium-sized enterprises in China that also provides health management, insurance technology, healthcare, and consumer financing services to the employees of large institutions, today reported its financial results for the twelve months ended December 31, 2019.

Highlights

In the fiscal year ended December 31, 2019, the Company conducted its management & assessment services and factoring business as well as its financial guarantee and consulting business. Additionally, the Company decreased its direct loan business and didn't conduct or renew any loans in 2019.

The following are some key measures of the Company's businesses.

For the year ended December 31, 2019, the Company provided management and assessment services to four customers, generating revenues of $135,938. The Company's management & assessment services include asset management services and financing services.

On December 20, 2019, the Company completed acquiring a 65.0177% equity interest in Lixin Financial Holdings Group Limited ("Lixin Cayman") and its subsidiaries (collectively "Lixin"), which were engaged in financial guarantee and consulting services, to diversify its business and generate additional revenue. The Company is able to consolidate operations of Lixin Cayman effective December 20, 2019, and now operates separate financial guarantee and consulting services.

As of December 31, 2019, the amount of outstanding loans and related interests that the Company has guaranteed was approximately $35.1 million. The Company estimates the fair market value of the collateral to be approximately $61.4 million as of December 31, 2019. For the period since acquiring Lixin on December 20, 2019, to December 31, 2019, the Company generated financial guarantee commission of $8,797 and consulting services relating to debt collections of $176,984.

For the year ended December 31, 2019, the Company generated interest income of $2.8 million from providing financing arrangements to its customers through the factoring program of Zhiyuan Commercial Factoring (Guangzhou) Co., Limited ("Zhiyuan").

From 2018, the Company decreased its direct loan business and didn't conduct or renew any loans in 2019. As of December 31, 2019, the Company had direct loan receivables due from four business customers and two individual customers.

Mr. Zhigang Liu, Chief Executive Officer of Roan, commented, "2019 was a crucially meaningful year for...

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