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HONG KONG, Mar 28, 2016 - (ACN Newswire) - China Goldjoy Group Limited ("China Goldjoy" or the "Group"; stock code: 1282) is pleased to announced that the Group has entered into a memorandum of understanding on 23 March, 2016 to purchase the entire issued share capital of the holding company of a group of companies which are primarily engaged in the reinsurance business on a global basis. That group of companies underwrites energy, property, casualty and other specialty risks through its offices worldwide. The proposed acquisition is in line with the Group's recent diversification strategies which aim at better leveraging its existing resources to maximize shareholders' returns, expand income streams and enhance the Group's financial position.
Mr. Yao Jianhui, Chairman and Chief Executive Officer of China Goldjoy, said, "In executing our diversified development strategy, the Group has been actively seeking suitable investment opportunities in securities and financial markets in order to capture the development opportunities in the booming financial industry. The proposed acquisition provides a golden opportunity for the Group to enter the financial services market and is expected to boost our income and bring good returns for shareholders."
The Group will commence due diligence on the proposed acquisition and further announcement will be made when appropriate.
About China Goldjoy Group Limited
China Goldjoy Group Limited, formerly known as World Wide Touch Technology (Holdings) 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 relating to biometric security, high-speed wireless data transmission and communications. The Group is currently implementing a series of strategic transformation measures and will identify appropriate investment opportunities in such areas as integrated financial services, asset management, new energy and emerging industries. The Group will also strive to expand into new industries and new markets in executing its diversified development strategy.
China Goldjoy has been selected as the constituent of a number of Hang Seng indexes: 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 eligible stocks under the Shanghai-Hong Kong Stock Connect scheme.
Topic: Press release summary
Source: China Goldjoy Group Limited
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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