Mr. Zhu Huanqiang is appointed as Co-CEO of CFCG
Hastens development of education operation and financial service businesses


The Board of Directors (the “Board”) of China First Capital Group Limited (“CFCG” or “the Group”; stock code: 1269), announced today that it has appointed Mr. Zhu Huanqiang as Co-Chief Executive Officer who will focus on developing and managing the Group’s education operation business and financial service business, effective from 26 July.

Mr. Zhu joined CFCG on 11 October 2016 as Deputy Chief Executive Officer of the Group. He was responsible for the Group’s financing business in the capital market in China; merger and acquisition (“M&A) projects and restructuring and management of the projects, as well as the development of the Group’s new financial services in China.

Mr. Zhu has substantial experience in the capital market. Since 1997, he had served and held senior positions at two major financial institutions in China, including Director of Inspection Division II of the Department of Intermediary Supervision of China Securities Regulatory Commission (“CSRC”) and Deputy Director of Heilongjiang Regulatory Bureau of the CSRC, Deputy General Manager of China Securities Finance Corporation Limited (“CSF”) and member of Communist Party Committee of CSF. CSF is the only financial institution in China approved by the State Council and CSRC to provide margin financing loan services. Mr. Zhu is a qualified lawyer in China. He obtained a master’s degree in law majoring in civil law from the Southwest University of Political Science and Law in 1996 as well as a doctorate in law majoring in civil and commercial law from the China University of Political Science and Law in 2006.

Dr. Wilson Sea, Chairman of the Board and Executive Director of CFCG, said, “After a full year of development, the Group’s strategic layout for education investment is basically in shape and breakthroughs have also been achieved with financial service business. Our three financial service subsidiaries in Hong Kong have all received relevant licenses and have been running their businesses efficiently, providing the Group a more comprehensive financial services business setup. In particular, with only a year and a half of operating time, First Capital Securities had underwritten eight listing projects on the Stock Exchange of Hong Kong. Moreover, First Capital Asset Management is now a Qualified Foreign Limited Partner (“QFLP”), whereas First Capital International Finance was given the go ahead in October last year by the Securities & Futures Commission to conduct Type 6 (advising on corporate finance) regulated activities. The Board believes that Mr. Zhu, who has profound industry experience and market resources, will be able to lead the Group in achieving steady development, ensuring the Group to pursue the core business of education investment continuously, with complement from its diverse financial business units. As such, the Group shall be able to unearth and capture education investment opportunities, domestic and overseas, and enlarge its market share more effectively while it moves, in full gear, towards the goal of becoming an internationally renowned ‘Education Investment + Financial Services’ dual-wheel driven education operation, investment and financing platform.”

On his promotion, Mr. Zhu thanked the Board and all in the Group for their trust and support. He said, “With the support of government policies, reforms on supply side, relaxed family planning policy, consumption upgrade, steady development of the financial and capital markets as well as market-oriented reforms, the education industry has a strong foundation to prosper. Furthermore, there is a great opportunity for investment in the private education market with huge development potential. In the face of both opportunities and challenges within the industry, CFCG has gathered together education experts, financial investment experts, entrepreneurs, education technology experts to form a top-notch professional team in order to focus on investment in the education industrial chain, providing fully-licensed financial services, such as underwriting of securities, wealth management, cross-border investment and financing and M&A advisory, to the education sector. In the future, the Group will continue to strengthen its core competitive advantages, including its strong resources integration ability, efficient execution and stringent risk management. Such efforts will help quickly boost the scale of the education assets of the Group, enhance its education industrial chain and see its move in firm strides on the path of efficient, healthy and sustainable education investment and develop its business to another new height.”