Weidai Ltd. Files 2020 Annual Report on Form 20-F

HANGZHOU,China,April 9,2021 -- 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 31,2020 with the Securities and Exchange Commission (the "SEC") on April 8,2021 U.S. Eastern Time.

The annual report on Form 20-F,which contains the Company's audited consolidated financial statements,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/.

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 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. Rene Vanguestaine

Tel: +86-10-5900-1548

E-mail: rvanguestaine@christensenir.com

In US:

Christensen

Ms. Linda Bergkamp

Tel: +1-480-614-3004

E-mail: lbergkamp@christensenir.com

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