OP Financial(1140.HK) Announces Interim Results for the Six Months Ended 30 September 2016
类型:Corporate News
Type:Corporate News
时间:2016-11-28
Time:2016-11-28
(Hong Kong, 29 December 2016) OP Financial Investments Limited (“OP Financial”), an investment company listed on the Main Board of Hong Kong Stock Exchange (Stock code: 1140.HK), announced its interim results for the six months ended 30 September 2016 (the “Period”).
Key Highlights and Investment Portfolio
NAV per share of HK$1.42
Profit for the Period amounted to HK$21.63 million
Strong cash position with HK$1.21 billion cash and bank equivalence
New investments were made during the Period, which included Beijing International Trust Co. Ltd, Xiaoju Kuaizhi Inc, Guardforce Holdings (HK) Ltd and Gooagoo Group Holdings Ltd. The major underlying companies are as follows:
Beijing International Trust Co. Ltd. OP Financial invested in 25% of equity interest in Treasure Up Ventures Limited (“Treasure Up”) for a total of US$45.17 million (equivalent to approximately HK$351.67 million). Treasure Up participates in a 15.3% investment in Beijing International Trust Co. Ltd (“BITIC”), which translated to a 3.8% indirect interest of OP Financial in BITIC. BITIC is a large-scale non-banking financial institution engaging in trusts business, investment fund business, financial services business, brokerage and advisory businesses. As at the end of 2015, BITIC had net assets of RMB6.99 billion and trusts’ total asset of RMB206.4 billion. The investment interest in BITIC gives OP Financial access to one of the dominant participants in the promising market.
Xiaoju Kuaizhi Inc. OP Financial subscribed series A-18 preferred shares issued by Xiaoju Kuaizhi Inc (“Didi Chuxing”). Total subscription from OP Financial was US$15 million (equivalent to approximately HK$116.35 million). Didi Chuxing is a major Chinese ride-hailing service provider with over 300 million users in more than 400 cities in China since its establishment in 2012. The investment in Didi Chuxing allows OP Financial to benefit from the attractive opportunities arise in the sharing economy.
Guardforce Investment Holdings PTY Ltd and Guardforce Holdings (HK) Ltd (“Guardforce”). OP Financial has provided funding to China Security & Fire Co., Ltd (“China S&F”), a listed company on Shanghai Stock Exchange (Stock Code: 600654) to expand overseas through acquisitions. China S&F, founded in 1987, engages in the provision of security system integration and operation services and manufacturing of security intelligent products. To help its overseas expansion, OP Financial subscribed approximately US$64.18 million (equivalent to approximately HK$497.78 million) 6.5% promissory notes issued by Guardforce Investment Holdings PTY Ltd, a subsidiary of China S&F. In addition, OP Financial also subscribed a US$15 million (equivalent to approximately HK$116.35 million) exchangeable bond issued by Guardforce Holdings (HK) Ltd which is a company fully controlled by Mr. Tu Guoshen, the controlling shareholder of China S&F.
Gooagoo Group Holdings Ltd. OP Financial subscribed US$3 million (equivalent to approximately HK$23.27 million) limited partnership interest in Tsingdata Holdings L.P. (“Tsingdata”), a BVI registered partnership with the sole purpose of investing into Gooagoo Group Holdings Ltd (“Gooagoo”). Gooagoo is a high-tech service provider for Offline-to-Online data processing, big data analysis and online marketing platform operation. The investment in Gooagoo fits well with OP Financial’s portfolio strategy in terms of technology and “Internet Plus”.
CSOP Asset Management Ltd. OP Financial established an asset management joint venture in Hong Kong named CSOP Asset Management Limited (“CSOP”) with China Southern Asset Management Co. Ltd (“China Southern”) in 2008. To date, CSOP holds a total of RMB46.10 billion Renminbi Qualified Foreign Institutional Investor (RQFII) quota, making it the largest RQFII asset manager globally. OP Financial owns 24% of issued capital of CSOP. The carrying value of the Group’s CSOP position was HK$119.38 million at 30 September 2016, an increase of 14.04% as compared to the value at 31 March 2016. OP Financial will hold this position as one of the core investments in its financial services platform.
OP Investment Management (“OPIM”). OPIM is an asset management platform which serves Asian-based managers to develop funds across diversified strategies for institutional and professional investors. OP Financial invested in 30% issued ordinary share capital and the 100% non-voting preference shares of OPIM Hong Kong and OPIM Cayman. The investment allows OP Financial to enjoy promising prospects of hedge fund industry developments. Given total number of funds increases, the Group’s investment position in OPIM increased to HK$26.68 million during the Period.
Zhang Gaobo, Chief Executive Officer of OP Financial, commented: “Looking ahead, we will continue to invest in platforms with long-term strategic value for obtaining financial returns and synergies. Also, we will strengthen the direct investment solution and create more depth cooperation with industry leaders to capture middle to short term market opportunities.”
Full details of the interim results announcement have been posted on the designated website of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk and the corporate website at www.opfin.com.hk.