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China Silver Group Announces Spin-off of CSMall to Unlock Value


[For Immediate Release]

 

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China Silver Group Announces Spin-off of CSMall to Unlock Value

 

Hong Kong, 28 February 2018 - Leading Chinese silver brand China Silver Group Limited (“China Silver Group” or the “Group”; Stock Code: 815.HK) is pleased to announce the spin-off and separate listing of its subsidiary, CSMall Group Limited (“CSMall Group”) on the Main Board of the Stock Exchange of Hong Kong Limited (“HKEx”). Public offering on the spin-off commences today. 

 

CSMall Group will offer a total of 194,183,990 shares in its global offering, 90% of which will be offered under the international placing. The remaining 10% will be offered under the Hong Kong public offering. The indicative price range per share is HK$2.28 and HK$3.28 respectively. Trading of CSMall Group’s shares on the Main Board of the HKEx is expected to commence on Tuesday, 13 March, 2018, under the stock code 1815.HK.

 

Founded in 2014, CSMall Group is the leading online and offline internet-based jewellery retailer in China. In recent years, leveraging on the continuous rapid expansion of CSMall Group, sales in CSMall Group increased from approximately RMB290 million in 2014 to RMB3,150 million in the first ten months of 2017. Net profit also surged from RMB9.67 million in 2014 to nearly RMB97 million in 2017. Excluding the effect of listing expenses, net profit for 2017 was more than RMB110 million. CSMall Group is expected to continue its rapid growth in the future. The spin-off of CSMall Group will enhance the transparency of the new jewellery retail business and unlock its value.

 

Mr. Chen Wantian, Chairman of China Silver Group, said: “We are pleased with the promising results achieved by CSMall Group since it was established a few years ago. The CSMall Group spin-off and separate listing will make the development of each business segment more efficient. Looking ahead, leveraging on the Group’s superior upstream manufacturing business and its leading position in the industry, we truly believe that China Silver Group will become the leading fully-integrated silver and precious metals enterprise in China.” 

 

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 twelve consecutive years. In recent years, the Group has diversified into the downstream businesses and launched an integrated online and offline Internet-based jewellery retail platform 金貓銀貓CSmall”. 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.

 

To learn more about the Group, please visit China Silver Group’s website at: www.chinasilver.hk. 
For further enquiries, please contact:

Hill+Knowlton Strategies

 

Ka Wai LI

Tel: (852) 2894 6252

Email: kawai.li@hkstrategies.com

Crystal YIP

Tel: (852) 2894 6223

Email: crystal.yip@hkstrategies.com  

 


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