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HONG KONG, Apr 6, 2016 - (ACN Newswire) - China Everbright Limited ("CEL", stock code: 165.HK) announced today that it is now the largest investor of the Haiyin Capital-managed Haiyin Equity Investment Fund L.P. ("Haiyin Fund" or the "Fund") with co-investment rights, following an additional investment of US$15 million made in March 2016. CEL invested US$8 million in the Fund in June 2015.
CEL said the recent investment is in line with the company's strategy to expand its overseas investment and asset allocations. Through Haiyin Fund, CEL will invest in high-tech enterprises in the U.S. and share in potential returns from the development and growing maturity of early-stage high technologies. CEL will also introduce its investee projects into mainland China in cooperation with Haiyin Capital, broadening CEL's pipeline of high-quality projects in the Chinese market and driving synergy.
Haiyin Fund specialises in investing in early-stage projects in the U.S. high-tech sector, with focus on fast-growing industries such as electronics, wearable equipment, robotics, aerospace, fintech, new energy and healthcare. While grasping the growth potential of the U.S. high-tech industries, Haiyin Fund is also committed to bringing emerging business models and technologies into China and building partnerships with local Chinese enterprises.
Currently, Haiyin Fund has an equity stake in more than 10 projects. These include Terrafugia Inc., an aerocar manufacturer operating in aviation and intelligent transportation. Terrafugia has completed its initial product R&D phase and concluded a series of cooperation plans with a major automobile manufacturer in China. It also received a new round of investment from the automobile manufacturer. New energy company Witricity Corporation is a developer of magnetic resonance battery-charging technology, with a wireless charging technology that is already applied in a number of areas including personal computers and electric cars. Its specially manufactured chips have already been built into the latest products of some internationally renowned brands including Intel and Toyota. In the future, it is expected to have extensive applications in a number of fields. Hanson Robotics Company manufactures intelligent robots and develops interactive emotive and voice technology. The company is expected to claim a larger market share for promotional, display, educational and medical rehabilitation products. Also, AngelList LLC is a fintech company and one of the world's leading crowd-funding platforms for venture capital investment. Subsequent to the investment from Haiyin, the company also received the investment from a Chinese investment institute.
About China Everbright Limited
China Everbright Limited ("CEL", stock code: 165.HK) was established at Hong Kong in 1997, CEL persistently pursues its "Macro Asset Management" strategy, with specific focuses on cross-border asset management and investment business. Over the past years, CEL manages series of private equity funds, venture capital funds, sector focus funds, mezzanine funds, hedge funds and principal investment as operated via an international management platform, and provides overseas investors with opportunities to explore and invest in companies with fast growing potential in Mainland China. On the other hand, CEL also seeks investment opportunities from overseas and provides diversified financial services for its clients in Mainland China. As of 31 December 2015, CEL's total fundraising scale reached over HK$49 billion, with a total of 31 funds.
China Everbright Limited, being a member of China Everbright Group, is the second largest shareholder of Everbright Securities (stock code: 601788.SH), a strategic shareholder of China Everbright Bank (stock code: 601818.SH, 6818.HK), the controlling shareholder of the Hong Kong-listed China Aircraft Leasing Group Holdings Limited (stock code: 1848.HK) and the second largest shareholder of the Singapore-listed Ying Li International Real Estate Limited (stock code: 5DM. SGX).
After the launch of "Shanghai-Hong Kong Stock Connect" on 10 April 2014, CEL becomes one of the first batch of specific stocks listed on The Stock Exchange of Hong Kong which can be directly traded by Mainland investors.
Through upholding the philosophy of "Making Wealth Simple", CEL leverages on its own substantial financial strength, as well as the position and influence of China Everbright Group and its affiliated companies in the financial industry in China, and has successfully built huge cross-border social and business networks in Hong Kong and the Mainland, and established a reputable image in the market.
For more information, please visit www.everbright165.com.
Golin
Jackie Cheung
Tel: +852 2501 7901
Email: jcheung@golin.com
Annie Leung
Tel: +852 2501 7918
Email: aleung@golin.com
Topic: Press release summary
Source: China Everbright Ltd
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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