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| Joint-Hands to Explore the Extensive Business Opportunities of Internet "Cloud Printing" Services |
HONG KONG, Aug 11, 2014 - (ACN Newswire) - eprint Group Limited ("eprint" or the "Group"; HKEx stock code: 1884), the leading printing services provider in Hong Kong which covers both online self-service ordering platforms and retail stores, today announced that five of its shareholder ("the five shareholders") are currently in negotiation with Shantou Dongfeng Printing Co., Ltd. ("Dongfeng Printing"; Shanghai Securities Stock Exchange stock code: 601515) as Dongfeng Printing proposed to acquire an aggregate of 82,500,000 shares of the Group ("the Transaction") for being the Group's strategic investor. Upon the completion of the Transaction, Dongfeng Printing will hold 16.5% of the total issued shares of the Group and becomes the Group's second largest shareholder. eprint Limited , the largest shareholder of the Group, will remain its 58.5% stake in eprint.
Dongfeng Printing is an A share company listed on the main board of the Shanghai Securities Stock Exchange (stock code: 601515) with market capitalization of about RMB12 billion, and has already been admitted into the eligible stock list of Shanghai-Hong Kong Stock Connect upon its launch. It is principally engaged in printing of paper packaging, such as tobacco, wine and cosmetics, and has already developed itself to become a high-tech enterprise which integrates scientific research, design, production, sales and service.
eprint operates four online platforms (namely www.e-print.com.hk, www.e-invoice.com.hk, www.design-easy.com and www.photobook1010.com) under the Group's self-developed eprint management system to computerise and standardise the entire process from order to print. eprint is a pioneer in the printing industry which has dedicated continuous efforts in developing its information technology infrastructure. Together with its online sales platform as well as "cloud printing" techniques, the Group is well-positioned to seize the numerous internet business opportunities with its strong capability to provide round-the-clock self-service ordering services for its customers. "Cloud printing" is a remote network printing service built on modern digital communications through the establishment of computerised and logistics systems with advanced printing technology. It is defined as a "cloud computing" business model applied in the printing process, management and cloud platforms. On the other hand, the Group is a "cash-cow" business with strong cash in-flow and healthy financial status, growing eprint as Hong Kong's largest printing service provider which covers both online self-service ordering platforms and retail stores.
Dongfeng Printing is particularly interested in the Group's online self service printing platform and "cloud printing" services system and it has classified the "cloud printing" development as one of its major strategic development moves. Dongfeng Printing hopes to explore business opportunities with eprint in both Mainland China and overseas markets in future as in the role of the Group's strategic investor.
Completion of the Proposed Acquisition of Shares is subject to the entering into of formal agreements between the two parties and is expected to be completed before 30 September 2014.
Contact:
Strategic Financial Relations Limited
Vicky Lee +852 2864 4834 vicky.lee@sprg.com.hk
Maggie Au +852 2864 4815 maggie.au@sprg.com.hk
Fax: +852 2527 1196
Website: http://www.sprg.asia/hk
Topic: Press release summary
Source: eprint Group Limited
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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