On March 28, 2019, Dr. Yang Weizhang (楊煒長), the chairman of Northern Investment Group Co., Ltd. (北京北方投資集團) (“NIG”) and the president of Beifang International Education Group (北方國際大學聯盟) (“BIEG”), and Mr. Yao Yujian (姚玉劍), the vice president of NIG, visited the headquarter of China First Capital Group Limited (“CFCG” or the “Group”, stock code: 1269.HK) in Hong Kong. During the visit, they met Dr. Wilson Sea, the chairman and executive director of the Group, Dr. Zhu Huanqiang, the co-CEO and executive director, Mr. Michael Zong, the deputy CEO and the chairman of First Capital Fund Management Limited, and Dr. Wang Hui, the chief financial officer in a friendly and efficient communication and exchange. Parties had entered into a strategic cooperation framework agreement, which laid a foundation and specified directions for the comprehensive, multi-layer and dimensional in-depth cooperation in the future between both parties in respect of investment and mergers and acquisitions, operational management, capital utilisation and other aspects.
Dr. Wilson Sea, on behalf of CFCG, expressed his warmest welcome to Dr. Yang Weizhang and Mr. Yao Yujian, and congratulated NIG and BIEG on their excellent achievements in higher education. Dr. Wilson Sea was of the view that, NIG, as the largest higher education investment group in China, and BIEG, as the largest private higher education alliance in China, enjoyed unique competitive edges in terms of education investment and operational management. Through the strategic cooperation, powerful combination and complementary advantages can be achieved, thus bringing new dynamics and drivers to the development of both parties. Looking forward, CFCG will gradually integrate its intensive experience in capital utilisation of domestic and overseas education institutions and quality education resources with the competitive edges of NIG and BIEG in terms of education investment and operational management, as well as conduct in-depth exploration, thus better contributing to the implementation of national education strategies and building China as a power education nation. This cooperation with NIG and BIEG has significant, influential impacts, which can enhance the layout of CFCG in education industry. Centering on the Belt and Road Initiative, both parties intend to jointly establish the Education Merger and Acquisition Fund for the Belt and Road Initiative (一帶一路教育併購基金), aiming to facilitate the promotion and implementation in art media and other fields, integrate quality education resources, and promote the new development of quality higher education in China.
Dr. Yang Weizhang spoke highly of the mission of “Finance Empowers Education, Education Lights Up Future” of CFCG, and greatly appreciated the strong market influence and brand recognition of CFCG in education financial services and investment and operation in education industry. Dr. Yang was of the view that there will be a huge room for and wide scope of cooperation between CFCG, NIG and BIEG. Through the strategic cooperation with CFCG, parties can fully utilise the huge synergies arising from organic combination of industry and finance, thereby continuously improving education quality, building education brand, enhancing education development level and strengthening core competitiveness of our nation.
Both parties were unanimously of the view that, through the strategic cooperation, new blueprint has been created for future development, with new room for expansion and new dynamics. Based on the resources of both parties and the actual circumstances, parties will gradually explore and facilitate the cooperation in respect of the investment and merger and acquisition in higher education, operational management and capital utilisation, K12 education management service, the introduction, connection and integration of domestic and overseas quality education resources, as well as the building up of famous art media listing platforms.
BIEG was founded by NIG in 2013, as a platform for sharing resources, improving operations, and promoting internationalisation in higher education. There are nearly 20 colleges, vocational colleges and international secondary schools under BIEG, including Yanching Institute of Technology, Canvard College, Beijing Technology and Business University, Kede College of Capital Normal University, City College of Science and Technology, Chongqing University, Chengdu College of Arts and Science, Wuhan University of Engineering Science College, Bowen College of Management at Guilin University of Technology, Yunnan Normal University Business School, City College of Wenzhou University, Zhujiang College of South China Agricultural University, Nanhang Jincheng College, Yinchuan College of China University of Mining and Technology, Swan College, Central South University of Forestry and Technology, Harbin Guangsha College, Yunnan Urban Construction Vocational College, Shanghai Lida Vocational Technology College and Sofia University, with over 200,000 students. BIEG, as the largest private higher education alliance in China, invites world-famous leaders from different fields as the consultant of its International Advisory Committee. For instance, BIEG has appointed Mr. Kevin Rudd, the former Prime Minister and Foreign Minister of Australia, as the chairman of the Advisory Committee, Mr. Joe Clark, the former Prime Minister and Foreign Minister of Canada, as the vice chairman, Mr. George Andreas Papandreou, the former Prime Minister of Greece, as the consultant, as well as Mr. Eric Maskin, the winner of Nobel Memorial Prize in Economics and a professor at Harvard University, as the Honorable Headmaster of Head School of BIEG, thereby providing huge support for the internationalisation of BIEG and the development of private higher education in China.
Signing of agreement
Picture of Dr. Yang Weizhang, the chairman of NIG and the president of BIEG, Mr. Yao Yujian, the vice president of NIG, Dr. Wilson Sea, the chairman and an executive director of the 新闻稿, Dr. Zhu Huanqiang, the co-CEO and an executive director, Mr. Michael Zong, the deputy CEO and the chairman of First Capital Fund Management Limited, Dr. Wang Hui, the chief financial officer, and Mr. Sun Xubiao, the investment director of Capital Operation Business Unit of CFCG