(28 January 2016, Hong Kong) China Rongzhong Financial Holdings Company Limited ( “China Rongzhong” or “Company”, together with its subsidiaries, the “Group”, stock code: 3963), was successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) today.
Mr. XIE Xiaoqing, Chairman and Executive Director of China Rongzhong Financial Holdings Company Limited (Left 6),
together with senior management members of the Company, and Ms. Yvonne Ho, Committee Member of SEHK (Right 7) attended the listing ceremony in the morning.
Shares of China Rongzhong were actively traded on the first trading day. Its share price closed at HK$ 2.13 with an intra-day high of HK$ 3.08 per share. A total of approximately 54.10 million shares were traded, with an aggregate turnover of approximately HK$ 134.667 million.
Alliance Capital Partners Limited is the Sole Sponsor; Alliance Capital Partners Limited, First Shanghai Securities Limited, Haitong International Securities Company Limited and Huatai Financial Holdings (Hong Kong) Limited (In alphabetical order) are the Joint Global Coordinators, Bookrunners and Lead Managers.
China Rongzhong is a leading finance leasing company in Hubei Province. According to Euromonitor International’s industry report, as at December 31, 2014, the Group was ranked first with total assets worth RMB1.73 billion. The Group has focused and will continue to focus on the financing needs of SMEs in Wuhan and other parts of Hubei Province. As Wuhan and Hubei Province are the regional hub of Middle China, therefore, the Group is positioned to take advantage of the opportunities created by the PRC Government’s plan to develop Middle China.
The Group owns a diversified customer base, and has also developed knowledge and experience in meeting the financing needs of certain key industries in Hubei Province, including the first target industry of the Group -- laser processing, and other strong and developing industries in Hubei Province such as plastics, industrial processing, textile and garments and hotel and leisure. The finance leasing business of the Group can be divided into two models, namely the sale-leaseback and the direct finance lease. Sale-leaseback is primarily used by the customers who need working capital, while direct finance leasing is mainly used when the customers commence new projects, expand production, make advancements in technology and have finance demands to purchase new equipment. Besides, the Group also provides advisory services (as a value added service) in conjunction with finance leases business to existing and potential customers. The Group has significant potential for growth as its development is supported by the availability of stable financing sources, it possesses strong risk management capabilities and it has adopted measures and methods that further diversify and mitigate risks. Moreover, the strong corporate shareholders of the Group are able to help to establish high corporate governance standards.
Mr. XIE Xiaoqing, Chairman and Executive Director of China Rongzhong Financial Holdings Company Limited, indicated: “China Rongzhong’s successful listing in Hong Kong marks an important milestone in the history of the Group’s development. It not only reflects the Group’s strength, but also equipped us with abundant capital and confidence for the Group’s long term development. Looking into the future, the Group intends to continue growing and expand the financial services significantly in the next several years. The Group also plans to selectively expand the business into other cities in China with dynamics similar to Hubei Province. Meanwhile, the Group will continue to expand the client base in industries with growth potential and continue to provide innovative finance leasing products and services. We will continue to enhance our risk management capabilities, strengthen our status as the leading finance leasing company in Hubei Province, and to maximize the value to our shareholders.”
Mr. XIE Xiaoqing, Chairman and Executive Director of China Rongzhong Financial Holdings Company Limited (Left),
presented a souvenir to Ms. Yvonne Ho, Listing Committee Member of SEHK (Right).
Mr. XIE Xiaoqing, Chairman and Executive Director of China Rongzhong Financial Holdings Company Limited (Right), presented HK$1-million dummy cheque to Mr Kong Churk-hoi, Billy, BBS, MH, JP, Executive Committee Deputy Chairman of The Community Chest of Hong Kong (Left).
Issued by Porda Havas International Finance Communications Group for and
on behalf of China Rongzhong Financial Holdings Company Limited.