Differ Group Announces Acquisition of a Finance Lease Company to Develop Finance Leasing Business in the Tourism and Distant Marine Fisheries Industries and Signing of a RMB100 Million Entrusted Loan Agreement

Oct 29, 2015 13:28 JST

Source: Differ Group Holding Company Limited

Provides Diversified Financing Solutions to Capture Potential Opportunities Brought by National Policies

HONG KONG, Oct 29, 2015 - (ACN Newswire) - Differ Group Holding Company Limited ("Differ Group" or the "Group") (stock code: 6878), a leading provider of short-to-medium term financing and financing-related solutions in the PRC, has announced the approval on the acquisition of Jiashi Development Limited ("Jiashi") which engages in the provision of finance leasing in the PRC at its recent Extraordinary General Meeting. The Group has also entered into an entrusted loan agreement with a lending bank for the purpose of re-lending to an investment limited company in Xiamen.

The targeted acquisition is expected to further strengthen the Group's existing finance lease business through Jiashi's extensive experience in the finance leasing business, especially on tourism, distant marine fisheries industry, and car leasing to individuals. In light of the emphasis of the 13th Five-year Plan on promoting modernisation of the agriculture, forestry, animal husbandry and fisheries industries, the Group believes Jiashi, which has extensive experience in the distant marine fisheries industry, will advance the long-term development of its finance lease business. As for the entrusted loan, the Group's subsidiary has agreed to entrust the lending bank with a sum of RMB104,000,000 for a period of 12 months.

Mr. Hong Mingxian, Chairman of Differ Group, said, "We believe that the above acquisition and entrusted loan agreement will consolidate the Group's leading position in the finance lease business in Fujian province, further diversify the Group's businesses and broaden our customer base. Looking ahead, we will continue to establish close cooperative relationships with financial institutions and banks, complementing the national strategy of 'One Belt One Road' and the development of the Fujian Free Trade Zone, so as to build a comprehensive short-to-mid term financing platform servicing SMEs."

Contact:

Strategic Financial Relations Limited
Heidi So        +852 2864 4826  heidi.so@sprg.com.hk
Janet Fong      +852 2864 4817  janet.fong@sprg.com.hk
Michelle Cheng  +852 2114 4912  michelle.cheng@sprg.com.hk
Fax: +852 2804 2789 / +852 2527 1196

Source: Differ Group Holding Company Limited
Sectors: Daily Finance