China Silver Group Announces Introduction of Professional Investors to Its O2O Business Flagship CSMall as Strategic Shareholders
[For Immediate Release]
China Silver Group Announces Introduction of Professional Investors
To Its O2O Business Flagship CSMall as Strategic Shareholders
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To Expand CSMall’s Shareholding Base for Future Growth
Steps Forward to be a Leading Vertically-Integrated Silver Enterprise
HONG KONG, 2 December 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”), a subsidiary and the O2O business flagship of the Group, has agreed to allot and issue a total of 118,059,000 shares (“the Subscription Shares”) to Caitong Funds SPC and Best Conduct Investments Limited (“Best Conduct”) at RMB1.26 per share for an aggregate consideration of RMB148,754,340 in cash (the “Issuances”), representing approximately 14.18% of the issued share capital of CSMall as enlarged by the Issuances. The Issuances reflect that the pre-money valuation of CSMall is approximately RMB900 million, while post-money valuation is approximately RMB1.05 billion.
Upon the completion of the Issuances, Caitong Funds SPC and Best Conduct will own 7.22% and 6.97% of CSMall shareholding respectively. The shareholding of the Group in CSMall will be diluted from approximately 70.00% to approximately 60.07%.
Mr. Chen Wantian, Chairman of China Silver Group, said, “The Group is delighted to introduce professional institutional investors who possess substantial investing experience and abundant resources in the internet and new economy companies as strategic shareholders. It also reflects that our development in the O2O business has received high recognition from the capital market. The Issuances will expand CSMall’s shareholding base for future growth, thereby working towards our long-term goal of becoming a leading fully-integrated silver and precious metals enterprise in China.”
CSMall is the O2O business flagship of the Group. As of 30 September 2016, the CSMall’s proprietary online sales platform, www.csmall.com, has recorded over 3.6 million registered members and carries an aggregate of over 140 self-owned and third-party brands, offering customers a comprehensive range of products. Apart from that, CSMall also works with third party platforms such as Tmall, JD, Sunning, Gome, Yihaodian and WeChat Social Distribution accounts, as well as a total of 23 television channels which covers an aggregate of over 300 million home viewers in the PRC. Furthermore, CSMall currently has over 140 outlets across China and leverages on its new multi-brand CSMall store concept to fulfil different customers’ preferences.
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 a member 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 recent years, the Group has diversified into the downstream businesses and launched an integrated O2O platform “金貓銀貓www.csmall.com”. Furthermore, the Group has fully acquired Shanghai White Platinum and Silver Exchange to develop the silver exchange business, aiming to become the leading vertically-integrated silver enterprise in China.
For further enquiries, please contact:
Ka Wai Li
Tel: (852) 2894 6252
Tel: (852) 2894 6258
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