HANGZHOU, China, Feb. 20, 2019 /PRNewswire/ -- Hundsun Technologies Inc. (SHA: 600570) formally announces the merger of its two subsidiaries Ayers Solutions Limited (hereinafter 'Ayers') and Hundsun.com Co., Limited (hereinafter 'Hundsun Hong Kong') to form Hundsun Ayers Technologies Limited (hereinafter 'Hundsun Ayers').
On top of its current focus of providing securities and futures trading solutions to the Hong Kong market, Hundsun Ayers will spearhead the expansion of Hundsun Technologies Inc.'s operations outwards, into the major financial centers of Asia (Singapore), Europe, and the US.
Background on the two entities
Currently supporting more than 200 institutional clients, Ayers was established in 2002 and specializes in developing trading and execution systems for securities and futures brokerage firms in Hong Kong and abroad.
Founded in 2008, Hundsun Hong Kong offers a diversified spectrum of technology solutions ranging from trading systems supporting global securities, futures, and options to consolidated account management platforms, offshore custody service solutions, and finally, the cloud-native Hong Kong H-shares stock lending platform.
Finalization of the merger
In October 2018, Hundsun Technologies Inc. carried out its second acquisition of 41.75% shares of DZH (HK) Investment Holding Company Limited (hereinafter 'DZH HK'), bringing its total stake up to 96.45%.
Given that DZH HK has full ownership of Ayers, Hundsun Technologies Inc. has thereafter exercised full ownership of Ayers, paving the way for this merger.
Combined Synergies - a global brand
This merger brings about significant synergies that will benefit the new entity.
Technology strength - the newly-formed Hundsun Ayers will capitalize on Hundsun Technologies Inc.'s deep experience in the FinTech industry and aim to upgrade and energize its existing suite of product offerings.
Market leadership and experience - Hundsun Ayers will benefit from the wealth of relationships and experience accumulated by Ayers in the Hong Kong market, and beyond.
Combining Hundsun Technologies Inc.'s deep experience and close relationships in the Chinese FinTech ecosystem with technology capabilities and market experience will empower Hundsun Ayers to grow as a global brand as it expands outward into international financial markets.
Hundsun Technologies Inc. was founded in Hangzhou in 1995. It was listed (main board) in Shanghai Stock Exchange in 2003 (code: 600570). The company is a leading supplier of financial software and network services in China. Hundsun devotes itself to offering integrated solutions and services to institutions of securities, futures, funds, trust, insurance, bank, exchange and private placement. It also offers wealth management tools to individual investors.