CFCG Successfully Completes Share Placement Raising HK$1 billion
Speeds Up Growing Global Education Investment Business


China First Capital Group Limited (“CFCG” or the “Group”; stock code: 1269) has announced today that it has completed the placing of approximately 100 million shares at HK$10.00 per share to no less than six placees who are independent third parties. Of the HK$994 million net proceeds raised from the share placement, approximately HK$750 million will be used to develop the Group’s education investment business via investment or acquisition, approximately HK$200 million for funding development of its financial service business and approximately HK$44 million as general working capital.

To better apply its first-mover advantages for grasping opportunities in the booming education investment market, CFCG has hastened its development and made a number of breakthroughs in the past year. For education investment business, it invested and acquired of mainland education projects including Virscend Education, Kunming Professional College of Arts, Jinan Century Yinghua and Xishan Schools. Regarding projects with overseas parties, it recently signed a cooperation agreement with the elitist Kingswood School from the U.K. on setting up Kingswood International Schools in China. CFCG has also invested in the GSV Fund, a well-recognized learning and talent technology investment fund in Silicon Valley, the U.S. In 2017, the Group will join hands with GSV and Tomorrow Advancing Life to present in Beijing the world’s most prominent education innovation and investment summit. For the financial services, the Group’s three financial services companies in Hong Kong are operating efficiently and have been active in developing education investment business by setting up with partners related funds such as Guolian First Capital Education Fund, Zhuhai First Capital Education Investment Fund and Shenzhen Shouzhong Education Development Equity Investment Enterprise .

Mr. Yan Haiting, President and Executive Director of CFCG, said “The overwhelming response to the fund raising exercise speaks clearly to the high recognition and support of the market for CFCG’s development strategy and also the full confidence investors have in the prospects of the industry. The Group is actively looking for education investment targets with good development potential at home and abroad, with a focus on investing in quality cultural and education assets that it can add to and complete the industrial chain of its education investment business, bringing in quality international education brand resources into the country to meet the immense latent demand of the market in China. With the strong financing capability, the Group is confident of having solid support in pursuing rapid development in the future, that it will be able to push at full steam towards achieving the goal of becoming a world-renowned ‘Education plus Finance’ integrated operation platform.”