On 1 August 2016, China Goldjoy Group Limited (“China Goldjoy”) was pleased to announce that the Group completed the acquisition of 70% Interest of KB Bullion Limited. As of today, China Goldjoy completed the acquisition of 70% Interest in six financial institutions including China Yinsheng Securities Limited, China Yinsheng Asset Management Limited, China Yinsheng Wealth Management Limited, KB Credit Limited, KB Investment Limited and KB Bullion Limited.

Upon completion of the acquisition, the aforesaid six companies became the indirect subsidiaries of China Goldjoy. China Goldjoy would possess the relevant licences to provide a wide range of asset management and brokerage services in Hong Kong and private equity investment in the PRC, including securities trading, asset management, trading of futures contracts, trading of precious metals, foreign exchange trading and insurance, loans and credit financing services.

Mr. Yao Jianhui, Chairman and Chief Executive Officer of China Goldjoy, said, “The financial market in the PRC is experiencing a transformation. Recently, it relaxes the foreign shareholding limit for Hong Kong financial institutions to enter into the PRC’s market. It speeds up the integration of financial markets in the PRC and Hong Kong. More Hong Kong financial institutions are setting up joint ventures in the PRC while a lot of foreign investors are hoping to seek investment opportunities in the global financial centre in Hong Kong. Therefore, by virtue of our rich experiences in the financial market, our management hopes to build a professional financial services platform among the PRC and Hong Kong through this acquisition and to provide high quality product services and investment channels for global allocation of capital in Mainland China and for overseas investors to seize the opportunities in the China market. We believe this acquisition will enhance shareholder value and benefit the Group and our shareholders as a whole.”