China Silver Group Announces its O2O Employees to Subscribe for Approximately 30% Interest in CSMall
China Silver Group Announces its O2O Employees to Subscribe for
Approximately 30% Interest in CSMall
Demonstrates High Confidence and Commitment Level
Align Interests to Bring O2O segment to New Heights
HONG KONG, 6 June 2016 - Leading Chinese silver brand China Silver Group Limited (“China Silver Group” or “the Group”; Stock Code: 815.HK) is pleased to announce that CSMall Group Limited (“CSMall”, 金貓銀貓集團有限公司), a direct wholly-owned subsidiary of the Group, has agreed to allot and issue a total of 214,275,000 new shares to its O2O employees at RMB0.40 per share for an aggregate consideration of RMB85,710,000 in cash (the “Issuance”). Immediately following the completion of the Issuance, the Group’s O2O employees will effectively own approximately 30.00% of CSMall.
The Board believes that the Issuance demonstrates a high confidence and commitment level of its O2O employees in developing the O2O segment which has enjoyed remarkable growth since its launch in 2014. The Issuance is an investment opportunity provided to the O2O employees to align their interests with those of the Group and motivate them to bring the O2O segment to new heights.
Mr. Chen Wantian, Director of China Silver Group said “We believe that through the Issuance our O2O employees can enjoy the growth in the O2O segment together with the Group by way of share entitlement, while the Group continues to consolidate the financial results of CSMall.”
CSMall is the O2O business arm of the Group. Up to the end of 2015, the Group’s proprietary online sales platform, www.CSmall.com (金貓銀貓), has accumulated over 2.1 million registered members and carries an aggregate of approximately 120 self-owned and third-party brands to offer customers a comprehensive range of products. The Group has also accumulated over 4,000 registered WeChat Social Distribution accounts. Apart from developing its own sales platform, the Group also works with 10+ popular third party platforms including Tmall, JD, Sunning, Gome and Yihaodian, as well as a total of 18 television channels which covers an aggregate of over 300 million home viewers in the PRC. The Group also opened around 120 outlets across China and introduced the new multi-brand CSMall store concept to fulfil different customers’ preferences.
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China Silver Group Limited
Founded in 2002, China Silver Group is a leading silver producer in China and one of the few Chinese companies capable of producing silver ingots with a purity grade of 99.999%, currently the world's highest standard. The Group is one of the 17 Chinese members of the London Bullion Market Association (LBMA) and has been ranked as one of the 20 most popular silver brands in China for eleven consecutive years. In 2014, the Group has diversified into the downstream silver retailing business and launched an integrated online platform “金貓銀貓www.CSmall.com”, aiming to become the leading vertically-integrated silver enterprise in China.
To learn more about the Group, please visit China Silver Group’s website at: www.chinasilver.hk
For further enquiries, please contact:
Ka Wai Li
Tel: (852) 2894 6252
Tel: (852) 2894 6258
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