eResearch Corp. (www.eresearch.com) published an updated Research Report after Peak Fintech Group Inc. (CSE:PKK | OTCQB:PKKFF | DB:P0T) released its third quarter financial statements.

Peak is the parent company of a group of Fintech subsidiaries operating in China’s commercial lending industry. Peak provides an investment vehicle for investors looking to participate in China’s Fintech industry.

Peak’s subsidiaries use technology, analytics, and artificial intelligence to provide loans, help Small-to-Medium Enterprises (SME’s) obtain loans, help lenders find clients, and also minimize lending risk.

In the third quarter, Peak’s revenue doubled to $15.1 million compared to $7.3 million in the same quarter last year.

Peak's Fintech subsidiaries generated 94% of revenue in the quarter, up from 80% in the previous quarter, and its Financial Services subsidiaries generated 6% of revenue.

Chris Thompson, Director of Equity Research of eResearch wrote, “Peak continued to benefit from its lending platforms being used to help distribute government relief funds to SME’s in China that were affected by the coronavirus.”

Peak is now on track to beat its revenue guidance of $40 million in 2020, more than tripling its 2019 revenue of $11.7 million. Peak’s stock price has responded accordingly and increased over 230% year-to-date.

Subsequent to the quarter end, Peak announced deals with Beijing Beijia Trading Company, Beijing Youxiangtong Group, Beijing Dianjing Company, and Beijing Jingying Corporate Management, and Peak expects these deals to contribute revenue starting in early 2021.

eResearch increased its 2020 revenue estimate to $42.8 million from $35.3 million but decreased its EBITDA estimate to $0.9 million from $2.9 million due to higher outsourcing and consulting expenses estimated for the balance of 2020.

Peak competes in China with other companies including Ant Financial (IPO pending), X Financial (NYSE: XYF), and Hexindai Inc. (NASDAQ: HX).

For more information about eResearch's report on Peak Positioning, please visit eResearch's website (www.eresearch.com).

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