More Companies with Investment from Far East Holding Group Listed in Stock Market

Source: CCTV.com  Date:2016-05-04  Page View: 1499 times

Link of the original article:

http://gxtv.cntv.cn/2016/05/04/ARTIQMcPb5tPvEYtRNC5pCND160504.shtml

Far East Smarter Energy Co., Ltd., a subsidiary held by Far East Holding Group (Abbreviation: Smarter Energy, stock code: 600869) disclosed its annual report 2015 and the report of the first quarter 2016 on the night of the 28^th, which shows that Smarter Energy has achieved revenue amounting to 11.711 billion Yuan, increasing by 3.16% on year-on-year basis; the net profit payable to the shareholders amounts to 422 million Yuan, rising by 131.11% on year-on-year basis; the total remuneration of the employees rises by 14.47% on year-on-year basis, where the average personal monthly salary and daily salary rises by 19.93% and 17.95% respectively. This demonstrates that Smarter Energy, with its business structure and achievements in performance, has drawn high attention from the capital market since strategic transformation. Following this boon news, Far East Holding Group announces that it will contribute 500 million Yuan to the incorporation of Jiangsu Private Investment Holding Company (Jiangsu Private Investment) to carry out further strategic layout.

Jiangsu Private Investment is a company supported by the Party Committee and government of Jiangsu Province, promoted by Association of Industry and Commerce of Jiangsu and government of Wuxi City and invested by eleven private companies in Jiangsu, including  Far East Holding Group, Jiangsu Shagang Group, GCL, Hongdou Group, Yangzijiang Shipbuilding (Holding) Ltd., Jiangsu Chengxing Group, etc. The registered capital is 8.6 billion Yuan. The contribution made by Far East Group is 500 million Yuan, accounting for 5.81% of the registered capital. On April 25, 2016, Jiangsu Private Investment held the first shareholders meeting to elect the members of the first BOD and the first board of supervisors; Jiang Xipei, Board Chairman and CEO of Far East Holding Group was elected as shareholder supervisor and chairman of board of supervisors of Jiangsu Private Investment.

It’s learned that in the next five years, the net asset of Jiangsu Private Investment will be over 60 billion Yuan, the value of the company will be more than 120 billion Yuan and the total asset managed by the company will be over 500 billion Yuan; in addition, the company plans to develop over 10 oversea listed companies, build up a financial holding platform with complete functions and list the whole company in the market.

Far East Holding Group insists on the strategy of “owner+ investment”; the investment to Jiangsu Private Investment is an important step in the development strategy of the company; Far East will expand the business scope with the assistance of the investment platform, integrate the industry operation with capital operation, improve the core competitiveness and profitability and, via the flexible investment systems and methods such as equity investment, acquisition investment, etc., promote Far East to the target of “global investment management experts”.

By April 30, 2016, Far East Holding Group has invested 325 companies in total, of which 74 companies (25 companies in the new Three-board) have completed listing, 3 companies have passed examination of CSRC and are in preparation of issuance and 26 companies have completed pre-disclosure. IPO examination has been accelerated and the sound companies with investment fromFar Eastare being listed gradually.