Exploring Opportunities and Developing a Broader Business Horizon
HONG KONG, Sept. 19, 2017 /PRNewswire/ -- China Oceanwide International Financial Limited ("Oceanwide Financial" or "the Group") (00952.HK) (previously named "Quam Limited"), a leading financial services corporation in Hong Kong, announced it was officially renamed on 15 August. The Group today organized the "Renaming Cocktail" at the Conrad Hotel in Hong Kong, which marked the debut of a new brand name and signified the beginning of a new chapter in the development of the Group's business. The Group was hopeful it would grasp future growth opportunities and took the opportunity to show its gratitude for the long-term attention and support given by business partners and clients.
In February 2017, Oceanwide Holdings Co.,Ltd. ("Oceanwide Holdings") (000046.SZ) completed the acquisition of Quam Limited, a fully licensed broker in Hong Kong, through its subsidiary Oceanwide Holdings International Financial Development Co. Ltd. To reflect the change in controlling shareholder as well as to demonstrate its close relationship with Oceanwide Holdings, the Group was officially renamed as "China Oceanwide International Financial Limited'' on 15 August.
In the first half of 2017, China Oceanwide International Financial Limited and Quam Limited carried out a comprehensive integration of their businesses. By capitalizing on the advantages of Oceanwide Holdings and China Oceanwide Holdings Group, the Group has embraced considerable opportunities in the financial market, and has been offering premier one-stop financial services to individual, corporate and institutional clients. After being acquired by Oceanwide Holdings, Oceanwide Financial has been given the chance to participate in sizable deals of securities and bond underwriting, and to expand its sources of capital. The Group intends to extend its reach to structured financing, covering general offers, block trades and in-house products while seeding new funds. Oceanwide Financial is exploring more business opportunities and is developing a broader business horizon, and is successfully demonstrating its presence in the Hong Kong capital market with a new image. In addition, on the back of its own advantages and ample experience in financial services, the Group is providing acquisition-related assistance to Oceanwide Holdings and its clients, thereby establishing a closer relationship among different parties and creating a "multi-win" situation.
With a view to increasing the Group's capability, strengthening its reach to a wider business horizon, and scaling up both its size and revenue, Oceanwide Financial completed a rights issue in August, raising HK$5.1 billion in total. With this enormous amount of new capital, the Group will be able to shift into a fast-growth mode. By pursuing innovation and service improvements in its quests, the Group aims to strengthen its market competitiveness and enhance its profitability.
At the Renaming Cocktail, Mr. HAN Xiaosheng, Chairman and Executive Director of China Oceanwide International Financial Limited, and Dr. Kenneth LAM Kin Hing, Chief Executive Officer and Executive Director of China Oceanwide International Financial Limited delivered speeches, followed by the unveiling of the new "Oceanwide Financial" brand together with Mr. Zhang Bo, Deputy Chairman and Executive Director; Mr. Bernard Pouliot, Deputy Chairman and Executive Director; Mr. Zhang Xifang, Executive Director; Mr. Liu Hongwei, Executive Director; and Mr. Richard Winter, Executive Director of the Group. Under the leadership of the new management team, the Group will aim to establish an all-rounded "Financial + Industry Investment" business platform with a new corporate image.
Mr. HAN Xiaosheng, Chairman and Executive Director of China Oceanwide International Financial Limited said: "In order to grasp the historic opportunities arising from the economic restructuring in China, Oceanwide Holdings planned and launched a new development strategy in 2014. Through managing a number of industries investment and through a series of capital operations, it has integrated the development of the high-potential financial and strategic investment segment, and has successfully transformed from a traditional property developer to a 'world-class conglomerate with three pillars: financial services, industrials and technology'. In the future, Oceanwide Financial will continue to play up the enormous capital and enriched experience of its controlling shareholder, and its own unparalleled internationalized edge. By leaning on mainland China, positioning in Hong Kong and connecting to the world, Oceanwide Financial will enhance in-depth interaction and synergy between its finance and industry investment, strengthen its brand and endeavour to lead and contribute to the development of the financial industry in mainland China and Hong Kong."
Dr. Kenneth LAM Kin Hing, Chief Executive Officer and Executive Director of China Oceanwide International Financial Limited said: "It is definitely my pleasure and honour to witness the historic moment of the integration between Oceanwide Financial and Oceanwide Holdings. Over the past two decades since the Group's listing on the Stock Exchange of Hong Kong, we have grown with the territory and has worked hard to provide local and mainland enterprises and individual investors with diversified financial services including securities brokerage, corporate financing, asset management and wealth management. Our business operations have been extended to, among other, the US, Singapore, Taiwan, Malaysia, Japan and Korea. With the full support from Oceanwide Holdings, I truly believe there will be a promising prospect for the Group. In the future, we will establish a closer relationship with Oceanwide Holdings, enhance business interaction and resources integration between the two parties, so as to deliver more premier and advanced international financial services to our clients. We will expand the Group's business scale and the sources of revenue, in order to create maximum returns for investors and shareholders."
About China Oceanwide International Financial Limited
China Oceanwide International Financial Limited is a Hong Kong-based financial services group which has been listed on the Stock Exchange of Hong Kong since 1997. Following a series of strategic acquisitions beginning in 2001, the core businesses of the Group now comprise securities brokerage, asset management, wealth management, and the online financial information platform "Quamnet.com". By applying its thorough professional expertise and utilizing its ample resources, the Group offers premier one-stop financial services and strives to become the ideal partner for both corporate and individual investors in Hong Kong and mainland China. In February 2017, the Group was acquired by Oceanwide Holdings Co., Ltd. (000046.SZ) and officially renamed as "China Oceanwide International Financial Limited'' in August 2017.
For more information, please visit the Group's website at http://www.oceanwidefinancial.com.