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HONG KONG, July 8, 2016 - (ACN Newswire) - China Everbright Limited ("CEL"; Stock Code: 165.HK) and Sichuan Hope Education Group ("Hope Education") jointly announced that CEL's RMB Mezzanine Fund has invested in Hope Education and become its key strategic shareholders. An agreement for full strategic cooperation was also reached, which will see two strong players joining forces to greatly enhance the effectiveness of Hope Education's capital utilisation and further support its efforts to achieve leapfrog development. At the same time, Hope Education will consider bringing in other professional investment institutions and making preparations for public listing at an appropriate time to acquire more resources in support of future growth.
CEL is a financial holdings company operating in Hong Kong and mainland China. Its parent company is China Everbright Group, and it is the second largest shareholder of Everbright Securities and the third largest shareholder of China Everbright Bank. Established in 1997 in Hong Kong, CEL manages a series of private equity funds, venture capital funds, industrial funds, mezzanine funds, and hedge funds via its international management platform, and has partnered with overseas investors to identify and develop a large number of Chinese enterprises with tremendous growth potential. It also provides a diverse range of financial services for clients in mainland China seeking overseas investment opportunities. CEL is highly regarded and trusted by companies both in mainland China and the rest of the world.
Established in 2007, Hope Education has become a comprehensive education group as well as the leading private education organisation in mainland China and the largest in western China after 10 years of development, with multiple educational institutions under its wing and over 100,000 students currently enrolled in its schools and colleges. These include three undergraduate colleges (Hope College of Southwest Jiaotong University, Guizhou University's Business College of Finance and Economics, and Jinci College of Shanxi Medical University), four vocational colleges (Sichuan Tianyi University, Sichuan Vocational College of Culture & Communication, Sichuan Hope Automotive Vocational College, and Guizhou Vocational Institute of Technology) one technical college, seven vocational (mechanical) schools, one elementary/secondary school, and several training schools.
This collaboration is a result of many rounds of careful selection among a large number of investment companies. "Hope Education is a fast-growing education group with strong brand reputation and great development potential," said Chen Shuang, China Everbright Limited's Executive Director and Chief Executive Officer. "CEL's investment in Hope Education rides on the nation's strong push for developing vocational education and it is the first time we are working together with a Chinese education brand. CEL has had many success stories of industry growth driven by financial capital. This collaborative venture will accelerate the growth of Hope Education, further expand CEL's horizons in mainland China, and enhance the development of China's education industry."
Wang Huiwu, President of Hope Education, said, "Hope Education meets the needs of the nation's education reform and the development of vocational education. We have taken this opportunity to explore new directions ahead and bring to fruition our strategic cooperation with CEL. Through entering into this investment agreement, we seek to renew our development approach, refine our strategic plans, and improve the avenues of our growth. We plan to bring in key strategic partners, expedite the listing process, pool our resources for development, and strengthen our capability for further growth. We are committed to help develop the education industry in a whole new way, and nurture more talented people with practical skills for the nation's economic and social development."
Wang Degen, President of Huaxi Hope Group and Chairman of Hope Education, said, "As a member of the Hope Group, Hope Education has achieved leapfrog development with support of the Group's formidable resources. I hope that the two organisations will work closely together and complement each other's strengths to implement the terms of the agreement, expedite asset restructuring, and improve the management structure for Hope Education to become the number one private education brand in China."
About China Everbright Limited
China Everbright Limited ("CEL", stock code: 165.HK) is the largest overseas financial platform of China Everbright Group Ltd. ("Everbright Group"). It is the second largest shareholder of Everbright Securities (stock code: 601788.SH) and a strategic shareholder of China Everbright Bank (stock code: 601818.SH, 6818.HK) the controlling shareholder of the Hong Kong-listed China Aircraft Leasing Group Holdings Limited (stock code: 1848.HK) and the second largest shareholder of the Singapore-listed Ying Li International Real Estate Limited (stock code: 5DM. SGX). As at end-2015, CEL managed 31 funds with AUM of more than HK$49 billion. Everbright Group, the parent company of CEL, is a state-owned financial conglomerate with AUM of approximately RMB3,000 billion as at end-2015. For more information about CEL, please visit www.everbright165.com.
About Hope Education
Sichuan Hope Education Group, a member of the Hope Group, was founded in July 2007, as one of China's largest private enterprises. Currently, Hope Education owns three independent undergraduate colleges, four vocational colleges, one technical college, seven vocational (mechanical) schools, one primary education school, and eight vocational training schools. It is a comprehensive educational group that covers primary education, secondary education, higher education, vocational education, and continuing education. Schools under the Hope Education umbrella has won numerous awards, including, among others, "Top Ten Most Reputable Private Institutes of Higher Education in China", "Top Ten Most Influential Higher Education Brands in Western China", and "Outstanding Private Institute of Higher Education in China". For more information about Hope Education, please visit www.hope55.com.
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Topic: Press release summary
Source: China Everbright Ltd
Sectors: Daily Finance, Daily News
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