Jiayin Group Inc. announced on December 20, 2024, that it entered into a definitive agreement on December 17, 2024, to purchase commercial property in Shanghai, China. The acquisition involves approximately 43,500 square meters of space, intended to serve as the company's new headquarters.
The total cash consideration for the commercial property is approximately RMB1.35 billion. This significant investment is subject to customary closing conditions, indicating a substantial commitment of capital by the company.
The primary purpose of this acquisition is to meet the demand arising from the continuing growth of Jiayin Group's businesses. This move supports the company's long-term operational needs and its expansion strategy within the fintech sector.
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