Chairman of CFCG Board of Directors Mr. Wilson Sea wishes all the colleagues a happy new year!
Fellow CFCG employees and friends:
Happy New Year!
With the Year of the Monkey behind us now comes the warmth of spring and the Year of the Rooster, and during this year our ambitions shall take off and soar. In the past year of 2016, with the full support of you and our fellow employees, CFCG has succeeded in the strategic transformation of its business, and initially completed the "education + finance" investment and financing platform. CFCG is now focusing on investment in the education sector as the main business and has achieved rapid growth in domestic and international markets through diversified financial services. At this wonderful turn of the year, on behalf of CFCG's board of directors, I would like to express my most sincere gratitude to all my fellow employees for your hard work and contribution in the past year. I would also like to express my heartfelt wishes for the best of health, happiness for your family, personal and professional progress, in short, I wish you the best of luck in the New Year!
During 2016 we have given full play to our creativity and worked hard. It has also been an exciting year in which we have gathered a multitude of talent and forged strong partnerships. During this year, we have been able to grasp new opportunities for investment in the education sector, explore investment channels, evaluate high-quality projects, and seize the initiative in creating the strategy for investment in education. We have opened up both domestic and international markets and focused on research and integration of resources, and are putting together an "Education + Finance" investment blueprint for our future development.
In 2016, the National People's Congress officially passed the Private Education Promotion Law, resulting in an acceleration of M&As and integration in the sector, which saw frequent technological innovations across various areas, while capital drove the education sector forward into an era of rapid development. In this era of mega-mergers and acquisitions, the Group for its part has accelerated the pace of investment and acquisition, with successful investment and acquisitions of a number of entities: Highlights here include Virscend Education, Kunming Professional College of Arts, Jinan Shijiyinghua Experiment School and Xishan Schools. At the same time, it has completed investment in or acquisition of Nanchang Baishu Education Group, Meten Education and Bojun Education. All of these transactions were executed through its wholly-owned subsidiary First Capital Fund. In the international arena, we have not only signed a cooperation agreement with Kingswood, a prestigious elite school in the United Kingdom and established a joint Kingswood International School in China. We have also invested in the GSV Fund, a well-known education and talent technology fund in Silicon Valley in the U.S. We have exchanged letters of intent for cooperation with well-known international institutions such as Churchill College Møller Centre of the University of Cambridge (UK), the University of West London, and Altschool, a future-oriented trendy school in the U.S., and hired Parthenon-EY, one of the world's top education strategy consulting firms, which provides the Group with strategic consulting on business development in the global education sector.
Passion and sweat have powered our way forward in the past, but wisdom and tenacity help set our direction in the future. In the past year, the Company has gathered experienced professionals to form teams of international financial and education experts. After Mr. Yan Haiting, former president of Agricultural Bank of China London Branch, was appointed the Group's President and Executive Director, Mr. Henry Hao, former President of the Bank of Communications New York Branch and Executive VP of its Hong Kong Branch, joined as Executive President of the Group and Chairman of First Capital Fund Management Co., Ltd. The Group was also honored to appoint Victor He, former Director of International Cooperation of the New Oriental Education Group, as Deputy CEO of the Education Expert Team. Mr. He is in charge of global promotion and operation of the Group's brand and acquisitions in the international education sector. The Group hired Mr. Zhu Huanqiang, former Executive VP of China Securities Finance Co., Ltd., who had many years of prior work experience in China Securities Regulatory Commission, as Executive VP of Capital Operations. Mr. Zhu is in charge of the Group’s overall business development related to China's capital market in order to further expand the Group's diversified financial services business. With these great talents now part of the Group, the Group's overall strength and brand influence can enjoy a qualitative boost.
We’re now well-equipped with our special forces for the march forward, and we shall waste no time in starting a new journey. Though the mountains may be steep and roads long and rough, the world can hear our iron-plated hoofs clank and clatter! Looking ahead into 2017, the Group will usher in greater challenges and opportunities. We will adhere to our business philosophy of "Openness, collaboration, and creativity for win-win situations.” Let us be filled with passion but maintain a humble attitude, and march forward with a broad mind in step with our partners in CFCG's new journey of 2017!
Last but not least, I wish all my fellow employees a happy New Year once again!
Wilson Sea, Chairman of the Board of Directors
China First Capital Group Co., Ltd.
January 1, 2017
2017 New Year's Day Speech
Dear fellow employees, partners and friends:
Greetings! At the quiet departure of 2016, we welcome the advent of a new year. 2017 has arrived. Looking back at the past year, I would say First Capital Fund had a magnificent year.
Spring is returning and everything is taking on a new look. It’s New Year's Day today and, on behalf of First Capital Fund, I give my warmest regards and heartfelt gratitude to all of you, our staff members and partners, for your hard work in the past year, to your families for backing and caring for you, and to all our friends for giving First Capital Fund their support.
2016 was a critical year for First Capital Fund in its pursuit of strategic transformation. Guided by its "education + finance" umbrella strategy, First Capital Fund has been steadfastly pushing forward with investing in education for a better future and has made major achievements:
At the Group's centralised and coordinated efforts, progress and improvement were made with including the number of pre-established investment funds, the scale of management funds, number of investment projects, risk control level, and team building and internal management. First Capital Fund has become better qualitatively as well as quantitatively, and has a solid foundation to continue to transform and take its business international.
On the "education + finance" front, First Capital Fund initiated and set up a number of industry investment funds and M&A funds, such as the "Guolian Fund" and "Zhuhai Education Investment Fund." We have also found strategic partners in a number of strong financial institutions and completed a number of milestone investments and M&A projects, by ourselves or together with our partners. In the days ahead, we will continue to explore and integrate educational resources in and outside the country.
Since last year, our team has grown and our partnership mechanism has kept improving with the addition of many partners. And, the roll out of our strategy nationwide has been smooth. Around the middle of the year, First Capital Fund moved its headquarters in a new office more spacious and with a more comfortable working environment to accommodate its rapid development. Regarding management, the company has adopted a modern approach that is people-oriented, and efficient and rigorous. We also hired Hejun Consulting to advise it on management and structure of the organization, and performance appraisal, giving us a better corporate structure and enabling us to manage the organisation more scientifically.
First Capital Fund could not have achieved so much without the support of the community and we have the responsibility and obligation to give back to it. In 2016, we created more than 150 new jobs for the community and organised staff members to take part in activities such as the Shenzhen Marathon. The company is active in encouraging the embrace of healthy lifestyle and environmental protection. The "Global Academic Research Report Competition" was held, representing our effort to bring bright minds together to help the cause of development of education...
The efforts of First Capital Fund have been widely recognised by the community. Last November, First Capital Fund stole the limelight at the "Sina - Chinese Education Festival" and took home the "2016 Influential Brand in Education Investment” award.
In 2016, the "The Non-state Education Promotion Law of the People's Republic of China” was passed after the third reading, opening the door to a new path for the industrialisation of education and securitisation of educational assets. And, the Cultural Fourth Board (Education Board) we jointly launched with the Shenzhen Cultural Property Exchange, marked the formal beginning of securitisation educational assets in China. First Capital Fund has taken wing on supportive policies.
Looking back at 2016, every progress made by First Capital Fund was the fruit of the wisdom and efforts of all in the company. So, I thank you all. You are our most valuable asset and the loveliest people!
A new year represents a new start and, for us, new hopes and dreams as we carry on our journey.
2017 is a promising year worth looking forward to. In the new year, we will continue to perfect our "Education +Finance" setup, and pool together strength for "investing in the education industrial chain.” We are confident of achieving the goals and responsibilities entrusted to us by the Group. In 2017, let us work together to write a bright chapter in the building of our "Education + Finance" operation, our purpose from day one.
Last but not least, I wish you all happiness, good health and success in the new year!
January 1, 2017
Messages from Management Team