China Goldjoy Group Limited Clarifies Misleading Press Report

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Tuesday, 17 May 2016, 11:49 HKT/SGT

HONG KONG, May 17, 2016 - (ACN Newswire) - China Goldjoy Group Limited ("China Goldjoy" or the "Group"; stock code: 1282) in its effort to clarify certain misleading information pertaining to the Group and Mr. Yao Jianhui, the chairman and chief executive officer of China Goldjoy, released a press report on 12 May 2016.

The press report alleged that (1) on 29 January 2016, Mr. Yao Jianhui acquired 14.139 billion shares of Hang Fat Ginseng Holdings Company Limited ("Hang Fat Ginseng") through off-market transaction at an average price of HK$0.01 per share in cash; and (2) on 1 February 2016, Mr. Yao Jianhui increased his shareholding in Hang Fat Ginseng to 24.98%.

These allegations are factually incorrect, and the Group would like to clarify as follows:

(1) as stated in the announcement on 2 February 2016 of the Group, on 29 January 2016, Rich Inward Limited ("Rich Inward"), an indirect wholly-owned subsidiary of the Group, entered into a memorandum with several existing shareholders of Hang Fat Ginseng for a proposed acquisition of 14.139 billion shares of Hang Fat Ginseng at an average price of HK$0.1 per share; and after preliminary due diligence conducted by the Group, the Group had decided not to proceed with the proposed transaction and terminated the memorandum on 1 February 2016; and

(2) Rich Inward took security over 5 billion shares of Hang Fat Ginseng held by a company controlled by Mr. Matthew Yeung (representing 24.98% of the then total share capital of Hang Fat Ginseng) on 29 January 2016 in connection with financial assistance extended by Rich Inward to Mr. Matthew Yeung. As of the date of this press release, Rich Inward does not have any interest in shares of Hang Fat Ginseng.

About China Goldjoy Group Limited (Stock code: 1282)
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 Sectors: Daily Finance, Daily News
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