(HONG KONG, 19 May 2016) China Innovative Finance Group Limited ("CIFG" or the "Company" and together with its subsidiaries, the "Group"; stock code: 0412.HK) is pleased to announce that CIFG has entered into a strategic cooperation agreement with internet financing platform Licaifan (理財範, www.licaifan.com) owned by Beijing Wangrong Tianxia Financial Information Services Co., Ltd (北京網融天下金融訊息服務有限公司)with the theme of "Listed Companies Industrial Financing".
Pursuant to the strategic cooperation agreement, Licaifan will provide financial information services for the financing needs of small-, medium- and micro-sized enterprises in the upstream and downstream sectors of the industry chain of CIFG, and carry out strategic cooperation in terms of financial assets and the circulation of funds and financial assets of the exchange whilst Licaifan will be able to gain access to higher quality financial assets, CIFG could effectively and efficiently manage its assets chain development. Such strategic cooperation will see both parties jointly develop relevant industrial segments, thereby optimising and upgrading the industrial structure. Licaifan is a well-known Internet-based financial platform in China under Beijing Wangrong Tianxia Financial Information Services Co., Ltd., aims to provide a one-stop asset allocation and investment platform for individuals and families. Licaifan has completed financial transactions exceeding RMB5 billion thus far, having generated investment income of over RMB200 million for more than 600,000 investors. Licaifan has been able to maintain zero bad debt and zero overdue records with its stringent risk control measures. Moreover, Licaifan is widely recognised by various sectors of the community and won various honorary titles such as "The Fastest-growing Internet-based Financial Platform 2015", "The Automotive Financial Innovative Services Award 2015" and "The Most Responsible Internet-based Financial Enterprise 2015".
Mr. Yau Wai Lung, Executive Director of CIFG said, "Leveraging its competitive edges, the Group is offering a comprehensive spectrum of financial services including financial leasing, operation of an asset trading platform ("Shenzhen Asia-Pacific Leasing Assets Exchange Center. Co., Ltd." (LAECAP)), equity investment, money lending, etc. While having witnessed a continued business development, CIFG has also been included in the MSCI Global Small Cap Indexes. That shows investors' recognition and enhances our image, thereby fostering further growth of the Company. With this strategic cooperation, the Group will further expand into the internet financing sector through Licaifan's established platform, with a view to extending into consumer finance business while realising resource sharing. The cooperation is expected to generate synergy with our existing businesses. Through the extensive network of the platform, CIFG could provide diverse financial products and services to a broader customer base. Therefore, the management is of the view that the terms of the strategic cooperation agreement are in the interests of the Company and its shareholders."
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About China Innovative Finance Group Limited
China Innovative Finance Group Limited (stock code: 0412.HK) is a financial holdings institution listed on the main board of the Hong Kong Stock Exchange since April 1992. At the present, the Group's core business includes financial leasing, operation of an asset trading platform (Shenzhen Asia-Pacific Leasing Assets Exchange Center Co., Ltd. (referred to as "LAECAP")), equity investment, money lending, etc. The Company aims to provide an integrated financial platform offering a comprehensive spectrum of financial services by obtaining licenses and qualifications for banks, insurance, trusts, asset management and other financial institutions through partnership, equity investment or acquisition. CIFG has received continuous support from various renowned financial institutions in China, such as China Taiping Insurance Holdings Company Limited (stock code: 0966.HK), Haitong International and CCB International (Holdings), which have subscribed to the Group's convertible bonds, becoming strategic shareholders. CIFG is dedicated in becoming an integrated financial platform providing a comprehensive spectrum of financial services. CIFG has been included by MSCI Inc. as one of the constituents of the MSCI Global Small Cap Indexes, effective as of the close of 31 May 2016.
This press release is distributed on behalf of China Innovative Finance Group Limited by Anli Financial Communications Limited.
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