CFCG Appoints Mr. Zhu Huanqiang as Deputy CEO
To Expedite Development of Capital Market Related Business in China


China First Capital Group Limited (“CFCG” or the “Group”; stock code: 1269), which is mainly engaged in education industry investment and financial services, announced that Mr. Zhu Huanqiang has been appointed as Deputy Chief Executive Officer of CFCG, who will be responsible for the Group’s capital market related business in China, with effect from 11 October.

Mr. Zhu possesses substantial experience in the capital market. Since 1997, he had served in two major financial institutions in China. He was the director of Inspection Division II of the Department of Intermediary Supervision of the China Securities Regulatory Commission (“CSRC”) and the deputy director of CSRC’s Heilongjiang Regulatory Bureau. In addition, Mr. Zhu was a deputy general manager of China Securities Finance Corporation Limited (“CSF”) and a member of CSF’s Committee of the Communist Party of China. CSF is the only financial institution in China that provides margin financing loan services with the endorsement of the State Council and CSRC approval.

Upon joining CFCG, Mr. Zhu will be responsible for the Group’s financing business in China’s capital market; mergers and acquisitions, and restructuring and management of projects for the Group; and the development of the Group’s new financial business in the PRC.

Dr. Wilson Sea, Chairman and Executive Director of CFCG said, “A series of policies supportive of the industry has been launched by the Chinese government since the end of last year and that zest up investments in the private education business. Looking at the demand, education spending has been increasing year after year and the education market has a huge demand. Plus, from the investment perspective, the education industry offers a stable and higher rate of return. In the past year, education investment caught the eye of the capital market, with asset mergers and acquisitions and financial investments in the sector the preferred options of many investment institutions. It is the best time for us to apply our first-mover advantages and quickly expand businesses. We believe that, with Mr. Zhu Huanqiang on board, CFCG will see the business development hasten, and going forward, the Group will continue to focus on investment along the entire education industrial chain, at the complement of the financial service business boasting diverse offerings, so that the Group can better explore and tap the domestic and overseas education investment opportunities and capture market share, and ultimately achieve the goal of becoming an internationally renowned ‘Education Industry plus Financial Services’ integrated the education operator and investment and financing enterprise.”