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| Exploration the wealth management industry in 2016 |
HONG KONG, Feb 23, 2016 - (ACN Newswire) - Greater China Financial Holdings Limited ("Greater China Financial" or the "company;" stock code: 00431.HK) has announced that Champion Well Limited, its wholly-owned subsidiary, has entered into a MOU with Shanghai Dangtian Asset Management Limited. ("Shanghai Dangtian Asset") today to subscribe not more than 20% of the enlarged equity interest of Shanghai Dangtian Asset. The preliminary valuation of Shanghai Dangtian Asset is estimated to be not more than HK$ 3 billion.
 | | Mr. Chen Ningdi, CEO of Greater China Financial (right) and Mr. Zheng Yang, Chairman of Dangtian Wealth (left), signed the MOU for the equity subscription. |
According to the public information, the value of the wealth management market of the PRC is continuously rising, and currently ranking the third of the whole world. By the end 2015, the amount of personal wealth available for investing in PRC has exceeded RMB 100 trillion. The rapid growth rate is expected to be maintained from 2016 to 2020. Consequently, demand of wealth management service will for sure increase with by. While recognizing the significant opportunity, Greater China Financial is focusing on entering into the wealth management market. The acquisition would provide an opportunity for the Company to diversify its business, expand its financing channel in Greater China region. Also, it will improve its competitiveness and brand value, bring abundant customer resources and strengthen synergies in business development.
Shanghai Dangtian Asset is famous for the "Dangtian Wealth" brand which is an integrated wealth management platform providing personal investment, asset management, cross-border wealth management and cultural-experience service. The registered capital of the company is RMB600 million. In 2015, the company achieved a revenue of RMB300 million. As an independent third-party wealth management company, Shanghai Dangtian Asset takes one-off consultancy fee during the service. Moreover, Shanghai Dangtian Asset could introduce suitable investment and wealth management products to customers objectively. The services provided include wealth management, asset management, film investment, private equity investment, alternative investment as well as overseas asset allocation. Shanghai Dangtian Asset executes strict product management procedures and internal control systems, which involve six phases including "investment-manager committee, strategy committee, project-establishment committee, risk-management committee, voting committee and post-investment management committee. Under the internal control systems, the passing rate of products is only 7%, which can highly guarantee the investment safety. The investment consultancy department conducts a quarterly analysis on future market trends, providing online and offline guarantees for the projects.
Shanghai Dangtian Asset opened more than one hundred branches in over 45 cities across China, including Shanghai, Beijing, Guangzhou, Dalian, Suzhou, Nanjing, Harbin, etc, aiming at providing comprehensive service for customer around China. Dangtian Wealth employs more than 2,500 professional financial planners with rich industry experience mainly from renowned and respected financial institutions.
According to the "China Wealth Management Industry Research Report 2015" published by ChinaVenture, "Dangtian Wealth" was selected as the most competitive wealth management institution among China Top 10 ranking, attaining this honor along with NOAH, CreditEase and JP Investment Group.
About Greater China Financial Holdings Limited (stock code: 431.HK)
Greater China Financial is a cross-border diversified financial services platform focusing on financial development and investment services. It is principally engaged in pawn loans, financing leasing, internet finance, securities trading and asset management businesses. Its professional team possesses industry-leading financial trading and high net worth customer experience. With its understanding of the domestic and foreign financial environment and its accurate insight of the major economic development trend, Greater China Financial is able to provide reliable cross-border financial services. Greater China Financial was included as a constituent of the MSCI Global Small Cap Index - China in November 2015.
Topic: Press release summary
Source: Greater China Financial Holdings Limited
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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