Dow Jones received a payment from EQS/DGAP to publish this press release.
EQS-News / 06/06/2017 / 17:30 UTC+8
*[For immediate release]*
*LSS Leasing forms collaborative platform with Brilliance China and 58.com*
Hong Kong, 6 June 2017 - Sun Hung Kai & Co. Limited (SEHK: 86) (the
"Company", together with its subsidiaries, the "Group") announced that LSS
Financial Leasing (Shanghai) Limited ("LSS Leasing"), the Company's 40%
joint venture, will launch a new strategic collaborative platform together
with its shareholders, Brilliance China Group, 58.com through its "58
Car"(58?) and "58 Suyun"(58??) units.
The platform, "58 Car internet vehicle purchase platform"(58???????????),
draws on the expertise of all the partners to offer a total solution to
entrepreneurial drivers entering the on-demand delivery business.
This platform for car financing will integrate financing solutions offered
by LSS Leasing, the on-demand delivery platform under "58 Suyun" with the
"58 Car" car service platform as the core, as well as the logistic support
from Brilliance China's dealership network. "Big data" collected through the
high volume of online applications in will be used to create demand for
vehicle purchases, financing, and other new business opportunities. This
platform should significantly lower the drivers' threshold to join the "58
Suyun" platform, thus encouraging social entrepreneurship in the markets
they operate in.
Group Executive Chairman Mr Lee Seng Huang said, "We are encouraged by the
performance of LSS Leasing to date and excited by the opportunities ahead as
it forays into the consumer auto finance market. This innovative new
platform that connects the strength and network of our partners reflects the
Group's approach to our investments and businesses. "
At the same time, LSS Leasing has also announced a second round capital
raising, with strong support from the Group. LSS Leasing commenced business
in January 2016, initially focusing on corporate auto leasing products and
services, is already generating a profit in its first year. The capital
increase will enable LSS Leasing to expand into new segments and broaden its
reach.
- End -
*About Sun Hung Kai & Co. Limited*
Sun Hung Kai & Co. Limited is an investment and finance firm with a focus on
Greater China.
Since its foundation in 1969, the Group has owned and operated
market-leading businesses in financial services, striving to generate
long-term capital growth for its shareholders. Leveraging on its heritage
and operational experience, the Group invests across a diverse yet
complementary portfolio of investment and finance businesses. Through
on-line platforms as well as an extensive branch and office network across
Hong Kong and Mainland China, the finance business provides funding
solutions to individuals, small businesses and corporates.
The Group currently has about HK$18 billion* in shareholders' equity. It is
the major shareholder of leading consumer finance firm United Asia Finance
Limited and a substantial shareholder of Sun Hung Kai Financial Group
Limited.
_*As of 31 December 2016._
For more information about Sun Hung Kai & Co. Limited (SEHK: 86), please
visit its website at www.shkco.com [1].
*For enquiries, please contact:*
Nancy Chen (852) 3748 2823 nancy.chen@shkco.com
Document: http://n.eqs.com/c/fncls.ssp?u=COKMPSXJLV [2]
Document title: LSS Leasing forms collaborative platform with Brilliance
China and 58.com
06/06/2017 Dissemination of a Marketing Press Release, transmitted by EQS
Group.
The issuer is solely responsible for the content of this announcement.
Media archive at www.todayir.com
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=6463bb5ef090421e23cbd21318a4bc8f&application_id=580449&site_id=vwd&application_name=news
2: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=2189b6d375a7dafc316b22c37f2cc62b&application_id=580449&site_id=vwd&application_name=news
(END) Dow Jones Newswires
June 06, 2017 05:31 ET (09:31 GMT)
