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China Silver Group Establishes Shenzhen Daxidi Technology Company Limited To Promote the Group’s fast-growing e-commerce business

HONG KONG, 20 May 2014 – Leading Chinese silver producer China Silver Group Limited (“China Silver Group” or “The Group”; Stock Code: 815.HK) is pleased to announce that the Group has entered into of VIE Agreement, and partnered with Shanghai Ameoba Venture Investment Partnership Enterprise (“Ameoba”), Zhuhai Dongtai Technology Company Limited (“Dongtai Technology”), and Shenzhen Richwise Venture Investment Company Limited  (“Richwise Venture”) to establish Shenzhen Daxidi Technology Company Limited (“Daxidi Technology”). The Group is committed to promote the downstream silver retail business through the fast-growing e-commerce sales channel, and capitalise on the experience, expertise and resources of the other Joint Venture Parties in the arena of e-commerce business to build one of the largest and most comprehensive jewellery e-commerce platforms in China.
The core founder of Ameoba previously served as the management of Alibaba Group, while the founder and core members of Dongtai Technology were formerly from Alibaba Group and well-known domestic internet companies. Both partners possess a wealth of rich expertise, operating experience and industry resources in the e-commerce business. The joint venture aims to acquire domestic e-commerce talents and resources and to combine with the Group’s existing resources in precious metals and jewellery, to build a multi-brand e-commerce platform for jewellery. Integrating the offline supplies and membership   sharing of domestic and overseas brands, Daxidi Technology will be committed to provide a customised platform for entry-lux and fast-fashion jewellery brands with assured quality, logistics support and service to satisfy young consumers’ preferences for personalized products. In addition, the platform can attract outstanding artists and collectors to implement a fans-oriented sales model through auction and buying sprees. It aims to become the largest B2C、C2C and C2B jewellery e-commerce platform in China, and through collaboration with the Group’s B2B2C operations to build a comprehensive B2B、B2C、C2C and C2B e-commerce ecosystem and transform the Group to become the leader in e-commerce of precious metals and jewellery in China. 
The shareholding structure and shareholders’ backgrounds of Daxidi Technology are as follows:
1.China Silver Group through the VIE Structure effectively holds 30% of the equity interest in Joint Venture Agreement, making it the largest shareholder of Daxidi Technology. The Group can appoint two directors, the president and the legal representative.
2.Ameoba holds 29% of equity interest and can appoint one director. Ameoba is an investment fund established by entrepreneurs and management of IT background, and is principally engaged in early-stage investment in telecommunications, media and technology (“TMT”) companies. The Company was established in January 2012. Its chief founders are Mr. Zhao Hong (former vice president and corporate finance director of Alibaba Group), Mr. Wang Donghui (former executive director and chief financial officer of Kingsoft) and Mr. Li Zhiguo (founder of and senior director of Aliyun). Investors of Ameoba are successful founders, entrepreneurs and management in the IT industry. Ameoba has invested in more than 10 companies, including,, DT E-Commerce,, LikePal, komovie, Xinhe Culture Media, etc., and has closely worked with their founding teams. 
3.Dongtai Technology holds 21% of equity interest and can appoint one director. Dongtai Technology is principally engaged in the provision of one-stop internet and mobile network solutions to corporate clients, providing comprehensive services including the construction of e-commerce platform (PC and mobile), integration of information system, data mining and analysis, online marketing and promotion, business development and operation through e-channels, B2C warehouse management, etc. and is the official partner of Alibaba Group. The core members of Dongtai Technology are formerly from Alibaba Group and other famous internet companies. The members have ample work experience in e-commerce, and processes credentials and practical experience in building up online sales platform. The projects that they led have won numerous awards and have obtained multiple rounds of investments from prominent funds.
4.Richwise Venture holds 20% of equity interest and can appoint one director. Richwise Venture is a subsidiary of Richwise Capital Group Limited (“Richwise Capital”), which invests in China businesses and is principally focus in early-stage investments in the areas of internet, mobile internet, new media and information technology. Richwise Capital is a private equity firm mainly focused on Chinese companies at growth stage. It invests in sectors including consumption, energy, internet, mobile internet and information technology. In the past, Richwise Capital successfully invested in a number of leading companies in the sectors, and supported their listings on the Hong Kong Stock Exchange, New York Stock Exchange and NASDAQ respectively.
Mr. Chen Wantian, Chairman and Chief Executive Officer of China Silver Group, said: “We are pleased to establish DaxidiTechnology and believe that this strategic cooperation will promote the rapid development of the Group’s e-commerce business. E-commerce is growing rapidly in China, in which it is fully penetrating, and even revolutionizing traditional business sectors. The Group has been paying close attention to the development opportunities in the downstream over the years. In 2014, the Group officially entered the downstream retail sector by leveraging its listing status and the retreat in precious metal prices. In addition, the Group has been actively promoting cooperation in the domestic jewellery e-commerce sector to build a powerful B2B2C e-commerce platform. Through this cooperation, we hope that the Group can build a comprehensive e-commerce ecosystem, making it a prominent e-commerce platform and the biggest online shopping mall for jewellery in China.”
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