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| Optimistic about "Internet + Film and Television + Finance" Focusing on Innovative Business Model |
HONG KONG, Feb 25, 2016 - (ACN Newswire) - Greater China Financial Holdings Limited ("Greater China Financial" or the "company;" stock code: 00431.HK) has announced that it has acquired an additional 17,060,000 shares of ShiFang Holding Limited ("ShiFang Holding"). After the completion of the acquisitions, together with the 40,000,000 new shares previously subscribed on 22 December 2015, the company now has an interest in 4.7% of the total issued shares of ShiFang Holding.
Mr. Chen Ningdi, CEO & Executive Director of Greater China Financial, said, "The Company has previously subscribed new shares of ShiFang Holding Limited for an aggregate price of HK$32 million. After the completion of the subscription, ShiFang Holding has become sought after by investors, and the share price has continuously increased. Currently the book profit exceeds HKD$100 million, demonstrating that subscribing to shares of Shifang Holding is an appropriate investment. In the future, the company intends to continue to grasp market opportunities, actively exploring investment with high potential value to consolidate the company's business development."
ShiFang Holding is principally engaged in the business of cultural media and advertising media in the PRC, and it is currently actively developing the film cultural business by leveraging the innovative "Internet + Film and Television + Finance" concept. Through close cooperation with renowned domestic wealth management institutions, the company will help ShiFang Holding realize synergies of film and finance, as well as online and offline businesses by using the method of consumerzing finance.
ShiFang Holdings has recently experienced a number of positive developments. Previously, shares of ShiFang Holding were acquired by Shi Jianxiang, a famous film producer, investor and outstanding private entrepreneur in the PRC, who has subsequently become the largest shareholder of the company. Also, Shifang Holding has previously appointed renowned director and film producer, Mr. Tsui, Yiu Ming, as the chief executive officer, as well as famous film producer, Mr. Ng See Yuen, as an independent non-executive director and a member of the Nomination Committee. Mr. Shi, Mr. Tsui and Mr. Ng are individuals respected in the film industry with abundant relevant experience, which provides ShiFang Holding with valuable assets and expertise for the future development of the film media business. Meanwhile, ShiFang Holding has also entered into a movie investment agreement with Hehe Film, in an approximately RMB110 million transaction to purchase 55% of the box office income in the PRC for the movie "Ip Man 3." This transaction helps Shifang Holding to further develop the existing media business in cultural film media, stepping into the booming film industry in the PRC.
Mr. Chen also mentioned that previously the company has signed a MOU for an equity subscription with "Dangtian Wealth," thereby effectively entering the wealth management field, and also representing an innovation in its finance model. Dangtian Wealth is a one-stop integrated wealth management platform which combines general wealth management, private investment, cross-border finance and cultural experience service, with branches nationwide. Apart from opening up the wealth management business in the Greater China region, the investment also complements with its existing business, optimizing the cross-border one-stop financial services platform, and strengthening the linkage of different business segments. The company hopes that related investment can bring synergies to the business and help to develop innovative financial services, financing and cultural media business in the future, further consolidating its diversified financial services platform. The key factor for Greater China Financial to stand out lies in the business model innovation in traditional industries.
About Greater China Financial Holdings Limited (stock code: 431.HK)
Greater China Financial is a cross-border diversified financial services platform focusing on financial development and investment services. It is principally engaged in pawn loans, financing leasing, internet finance, securities trading and asset management businesses. Its professional team possesses industry-leading financial trading and high net worth customer experience. With its understanding of the domestic and foreign financial environment and its accurate insight of the major economic development trend, Greater China Financial is able to provide reliable cross-border financial services. Greater China Financial was included as a constituent of the MSCI Global Small Cap Index - China in November 2015.
Topic: Press release summary
Source: Greater China Financial Holdings Limited
Sectors: Daily Finance
https://www.acnnewswire.com
From the Asia Corporate News Network
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