(Yicai Global) Oct. 23 -- Shenzhen Shengxunda Technology Co. [SHE:300518] and its promoter and shareholder, Peng Jianrui, will set up an internet micro-credit company in the Guangdong Hi-Tech Service Zone for Financial Institutions.

Shengxunda said it will pay USD23 million (CNY153 million) for a 51-percent stake in the joint venture, while Peng's CNY147 million will get him a 49-percent stake.

Shengxunda specializes in animation creation and the development of games and other mobile internet applications.

Peng holds 1,471,677 Shengxunda shares, accounting for a 1.58-percent holding in the group, Shengxunda said.

The goal of setting up this micro-credit joint venture is to ease financing difficulties for Shengxunda's upstream and downstream links as well as other high-net-worth clients. The joint venture can help Shengxunda forge closer cooperation relationships with its upstream and downstream links, the company said.

The firm said that by providing its users with micro-credit services, it can increase user liquidity and consolidate and enhance its core competitiveness.