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Mr Bai Zimin Appointed as Deputy Chief Executive Officer to Enhance Post-Investment Management and Overall Project Values

2016.10.27

The Board of Directors of China First Capital Group Limited is pleased to announce that Mr Bai Zimin has been appointed as a Deputy Chief Executive Officer of CFCG and put in charge of the post-investment management of the Group’s education projects with effect from 27 October 2016.

Since March 2016, Mr Bai has been the Chairman of the Board of First Capital Education Investment (Shenzhen) Company Limited, a subsidiary of CFCG principally engaged in investment in education projects. In that capacity, he has been responsible for the overall management and strategic development of that subsidiary. Following his appointment as a Deputy Chief Executive Officer of the Group, he is responsible for the post-investment management and integration of educational resources for the Group’s education projects.

Mr Bai has approximately 16 years of experience in project management and planning. He earned a doctorate degree in Management Studies from Sichuan University in 2009. Prior to joining CFCG, he served in various positions at the People’s Procuratorate of Sichuan Province, including as a Division Head of the Information Technology Department and Director of the Technology Service Department. More recently, between 2012 and 2015, Mr Bai served as a Standing Committee Member and a Vice Chief Executive of Zizhong County, Neijiang, Sichuan Province. Since October 2016, Mr Bai has also been a Non-executive Director of Bojun Education Company Limited.

Dr Wilson Sea, the Chairman of the Board and Executive Director of CFCG, said, “since the commencement of the education investment business earlier in 2016, the Group has been actively establishing the integrated operation platform driven by "education + finance.” As a result, while we have optimised the financial service business, we have continued increasing investment in the education sector. Currently, CFCG and the funds established by First Capital Funds Management Company Limited and other institutions have invested in six education projects spanning a wide range, including education from pre-primary to K-12 level, vocational education and language learning. In view of the intensifying competition in the education investment market, we are expediting our business development by enhancing domestic market penetration and actively identifying quality overseas projects. We expect the number of investment projects to double in the near future as we believe that education is a long-term investment, thus, effective post-investment management is crucial to the growth of project value. As Mr Bai is enthusiastic about the education sector and experienced in project management, he is well-prepared to help us formulate and implement an effective strategy of post-investment management and integration of educational resources. We believe this strategy is conducive to maximising the synergies between resources on courses, skills, branding, finance and management of our projects, thus enabling us to enhance our overall value as an education institution.”