Home > News
China Goldjoy Completes the Acquisition of KB Bullion

Marks A New Milestone in Expanding Financial Services and Asset Management Business

(4 August 2016, Hong Kong) China Goldjoy Group Limited (“China Goldjoy” or the “Group”; HKEx stock code: 1282) is pleased to announce that it has completed the acquisition of KB Bullion Limited on 1 August 2016, following the same of KB Credit Limited on 3 May 2016, as well as China Yinsheng Asset Management Limited, China Yinsheng Securities Limited, China Yinsheng Wealth Management Limited and KB Investment Limited on 4 July 2016. The six financial services and asset management companies have each become a 70%-owned indirect subsidiary of China Goldjoy, and their results will be consolidated into the financial statements of the Group.

Mr. Yao Jianhui, Chairman and Chief Executive Officer of China Goldjoy, said, “The successful acquisitions mark another milestone in China Goldjoy’s business transformation towards the high value-added end and diversification. With financial services becoming one of its principal businesses, we will focus our resources on the development of business segments with high growth potential, such as financial services and asset management business, while keeping our eyes on potential business opportunities in the financial services market, so as to bring optimal returns for our shareholders.”

- End -

About China Goldjoy Group Limited (Stock code: 1282)

China Goldjoy Group Limited is principally engaged in the development of a range of high technology products; trading and providing services with respect to automation-related equipment; securities investment; and strategic investment and development in technologies mainly related to biometric security, high-speed wireless data transmission and communications. With the completion of the acquisitions of six financial institutions including KB Credit Limited, China Yinsheng Asset Management Limited, China Yinsheng Securities Limited, China Yinsheng Wealth Management Limited, KB Investment Limited and KB Bullion Limited, the Group has included financial services as one of its principal businesses. After the acquisition of the integrated financial services and asset management business, the Group is identifying appropriate investment opportunities in new energy and emerging industries. It aims to expand into new industries and new markets and also realize its diversified development strategy through a series of strategic transformation measures.

China Goldjoy is the constituent of several Hang Seng indexes, including Hang Seng High Beta Index, Hang Seng Internet & Information Technology Index, Hang Seng Global Composite Index, Hang Seng Composite Index Series – Hang Seng Composite Index, Hang Seng Composite Industry Index – Information Technology, Hang Seng LargeCap & MidCap Index, Hang Seng MidCap & SmallCap Index and Hang Seng MidCap Index. The Group is one of the stocks eligible for trading in Mainland China under the Shanghai-Hong Kong Stock Connect scheme.

© Renze Harvest International Limited All rights reserved