Weidai Ltd. Files 2019 Annual Report on Form 20-F

HANGZHOU,China,June 4,2020 -- Weidai Ltd. ("Weidai" or the "Company") (NYSE: WEI),a leading auto-backed financing solution provider in China,today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31,2019 (the "Annual Report) with the Securities and Exchange Commission (the "SEC") on June 4,2020.

The Annual Report can be accessed on the SEC's website at http://www.sec.gov and on the Company's investor relations website at http://weidai.investorroom.com/.The Company will provide a hard copy of its Annual Report containing the audited consolidated financial statements,free of charge,to its shareholders and ADS holders upon request. Requests should be directed to investor relations department,No. 9 Baiyun Road,Shangcheng District,Hangzhou,Zhejiang Province,the People's Republic of China.

About Weidai Ltd.

Weidai Ltd. is a pioneer and leading auto-backed financing solution provider in China supported by sophisticated and effective risk management system and technology. The Company transforms used automobiles,a type of "non-standard" collateral,into investable assets,to provide accessible credit for China's small and micro enterprises,and connects the borrowers with institutional funding partners through its platform.

For more information,please visit http://weidai.investorroom.com/.

For investor and media inquiries,please contact:

In China:

Christensen

Mr. Christian Arnell

Tel: +86-10-5900-1548

E-mail: carnell@christensenir.com

In US:

Christensen

Ms. Linda Bergkamp

Tel: +1-480-614-3004

E-mail: lbergkamp@christensenir.com

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