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Differ Group's Chief Executive Officer and Executive Director Increases Shareholding in the Group
Strong Confidence in the Group's Prospects
HONG KONG, Jun 03, 2016 - (ACN Newswire) - Differ Group Holding Company Limited ("Differ Group" or the "Group", stock code: 6878.HK), a leading provider of short- to medium-term financing and financing-related solutions in the PRC, announced that Mr. Ng Chi Chung ("Mr. Ng"), the Group's Chief Executive Officer and Executive Director, purchased 4,000,000 shares of the Group via the trading system of The Stock Exchange of Hong Kong Limited from 1 June to 3 June 2016. Following such purchase, Mr. Ng is interested in approximately 0.09% of the issued share capital of the Group as of the date of this release. Mr. Ng has expressed his satisfaction with the current operating conditions of the Group and is confident about its prospects. Mr. Ng has also expressed his intention to continue to increase his shareholding in the Group if and when appropriate.
Mr. Ng said, "The Group has been applying proactive strategies in response to the ever-changing market demands under the macroeconomic environment. Outstanding track records are booked continually. As for one of the Group's development focus this year, distressed asset management, the Group has made satisfactory progress in the execution of a number of distressed assets acquired last year. Early last month, the Group entered into a convertible bond agreement of amounting up to US$50 million with Huarong International Financial Holdings Limited (993.HK), Cinda International Holdings Limited (111.HK) and Cinda International Securities Limited. The proceeds raised will be mainly used in the loan services and distressed asset management business. Looking ahead, the Group will continue to explore more cooperation opportunities with the related parties." Recently, the three Mainland banks kicked of the securitization of distressed assets. Mr. Ng commented, "Along with the demands of execution of distressed assets accelerates, the industry has entered the pro-cycle development phase. Differ Group will actively align its practices with related government policies and industry demands, maximize its capacity to develop the distressed asset management business."
Regarding finance lease services, another major focus of the Group, Mr. Ng said, "To solve the Three Rural Issues, the PRC has been encouraging the mechanization of plan protection with ample subsidies. Agricultural drones, with high production efficiency and low operational cost, have become highlights of the ecological agricultural industry. Since last year, we have started to expand financing service to SMEs in staple industries with drone leasing, aiming to consolidate the leading position as the preferred financing service platform for SMEs. At the Jiangxi-Hong Kong Economic Cooperation Conference held last month, the Group entered into a financing service framework agreement in the amount of RMB2.0 billion with the People's Government of Yujiang County and an independent third party for the development of the agricultural drone business."
Look ahead, Mr. Ng said, "The Group's track record of steady growth is the proof of the management's profound understanding of the industry and predominant operational capabilities. I have full confidence in the Group's prospects and development potential. I believe with its professional service system, flexible and aspiring strategies, the Group will be able to further boost its market share and enhance the competitiveness of its asset management and core businesses, thus realising sustainable growth in value."
Contact:Strategic Financial Relations Limited
Heidi So +852 2864 4826 heidi.so@sprg.com.hk
Angel Li +852 2864 4859 angelok.li@sprg.com.hk
Jenny Lam +852 2864 4883 jennysy.lam@sprg.com.hk
Fax: +852 2804 2789 / +852 2527 1196
Source: Differ Group Holding Company Limited
Sectors: Daily Finance, Daily News
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