9F's Strategic Holding of Primasia Securities Asia Gets SFC Approval: Upgraded and Renamed 9F Primasia Securities

Primasia Securities Asia Limited has been operated in Hong Kong for many years, and its management team has decades of experience in securities and asset management. It has a steady operation for years with business license qualifications for stock trading, asset management, futures investment and consultation and others. 9F's acquisition of Primasia Securities Asia was mainly because of its long-term steady development, good teams, and business platforms. The existing management team will retain their posts with a minority of shares after the strategic holding of 9F. Hong Kong is listed as one of the Three Major International Financial Centers with New York and London. The strategic holding of Primasia Securities Asia and obtaining a license is a strategy of 9F's international expansion. In the future, 9F will jointly develop the Hong Kong and overseas markets with its advantages and the experience of the existing team, and open up overseas markets further with Hong Kong 9F Primasia Securities as the platform.

9F Group is an integrated platform focusing on the fintech services, and its subsidiaries cover business of smart financial management (Wukonglicai), consumer finance (9F Dingdang, 9F Chaoneng, Stage GO, Crayon Stage), internet lending (9F Puhui), supply chain finance (9F Small Gold Tickets), big data credit evaluation (Wecash, Fire-eye Credit) and others. These will be integrated and connected through an APP (9F Wallet) to realize one-stop service. Early in 2006, 9F became the first domestic company to establish a third-party internet financial service platform and put forward the concept of "making it simple". As one of the earliest Internet financial enterprises in China, 9F has taken the lead in completing the mobile financial layout within ten years and created an unique cross-scene consuming financial ecological chain system in China with " Link & Plus" Strategy and the idea of " Scene + Incubator", thus providing integrated mobile financial services for users.

With the financial globalization and the opening of capital markets, and considering the decentralized asset risk and other influences, domestic investors have increasingly high demand for global asset allocation. Industrial Bank Co., Ltd. and the Boston Consulting Group (BCG) jointly issued a report on Chinese private bank development in 2016, the "Chinese Private Banks in 2016: Anti-trend Growth, Global Configuration", in which it is expected that from 2015 to 2020, the average annual growth rate of investable financial assets of Chinese high net worth individuals will be 15% and China will become one of the world's largest high net worth customers markets. Meanwhile, in the next five years, Chinese individual overseas asset allocation ratio will rise from the current 4.8% to 9.4%, and the new market will reach RMB 13 trillion. Thus, the establishment of 9F Primasia Securities is also an active exploration of overseas asset allocation services.

Currently, 9F has over 30 million registered users, with its WeChat official account "Wukonglicai" along exceeding a total of more than 12 millon users, which has contributed to trades of over RMB 10 billion after more than a year. It has created a miracle in the industry and was hailed as the "Master" of the mobile financial service!

In the future, 9F Primasia Securities will focus on asset management service and provide more diversified and personalized investment financing and asset allocation services. In July this year, the finals of "The 2016 Fire-eye 9F Sino-US Fintech Venture Contest" were held in Beijing. The block chain company Snapcard from Silicon Valley in the United States won the championship. According to the information, 9F will conduct strategic investment in it, which will also be one of the accelerated arrangements for 9F's globalization strategy.

Photo - http://photos.prnewswire.com/prnh/20160909/405950

SOURCE 9fbank.com