EQS-News: IDG Energy Investment Limited: IDG Energy Investment Sets Foot in New Mobility Industry for Broader and Diverse Return

EQS-News / 25/11/2019 / 10:03 UTC+8 
 
*For Immediate Release November 25, 2019* 
 
*IDG ENERGY INVESTMENT LIMITED 
IDG ????????** 
_(Stock code: 650.HK)_ 
 
*IDG Energy Investment Sets Foot in New Mobility Industry 
for Broader and Diverse Return* 
 
*(November 25, 2019 - Hong Kong)* *IDG Energy Investment Limited* ("*IDG 
Energy Investment*" or the "*Company*", stock code: 650.HK) is pleased to 
announce that on 15 November 2019, its wholly-owned subsidiary, Triple 
Talents Limited ("*Triple Talents*") entered into a series of agreements 
with Weipin (Cayman) Holding Limited (the "*Target*") and its affiliates, 
pursuant to which Triple Talents has agreed to subscribe for certain shares 
in the Target, which constitutes 35% of the total share capital of the 
Target upon completion of such subscription. Upon completion of the 
transaction contemplated under agreements ("*Transaction*") with a total 
investment of approximately RMB200 million, the Company has become the 
controlling shareholder of the Target.The Target will become the holding 
company of the online ride-hailing services platform business ("*Mobility 
Services Platform*") upon completion of restructuring. 
 
The Mobility Services Platform will be one of the focal businesses to 
develop for the Company, and the Company expects to closely engage in the 
operation and supervision of this new business to ensure its commercial 
development, sound financial performance, and the realization of the 
synergetic value to be created between the Target and the Company along with 
its energy industry expertise and strategic partners. 
 
In China, the new mobility industry represents a fast growing and 
underpenetrated market opportunity, with an annual transaction volume of 
more than RMB300 billion that is expected to reach RMB500 billion in 2022. 
Currently there are more than 10 billion ride orders recorded per year. 
 
Mobility Services Platform manages hundreds of thousands of drivers and 
vehicles to supply ride services to online ride-hailing companies including 
but not limited to Didi. The Target aims to resolve the need of both 
consumers and relevant regulatory agencies to improve the quality and safety 
of online ride-hailing services. With the Mobility Services Platform, the 
Target will charge a take rate from the gross merchandise value (GMV) of 
every ride it supplies. Value will be created through efficient drivers and 
fleets management. 
 
*Mr. LIU Zhihai, Executive Director & President of IDG Energy Investment*, 
commented: "The Target is an optimal quality investment opportunity which 
can diversify income stream and maximise returns for shareholders. The 
Transaction will enable us to capture development opportunities in the new 
mobility industry and increase the efficiency of its fund utilisation. In 
addition, the Company will also be able to provide fuel cost optimization 
for the fleet of the Target." 
 
"We believe that the Target is well positioned to rapidly scale up and we 
will positively benefit from this new venture through its cash-generating 
capability, operational sustainability and business scalability." 
 
- End - 
 
*About IDG Energy Investment (Stock Code: 650.HK)* 
IDG Energy Investment Limited is an investment holding company mainly 
engaged in global energy and other assets investment and management. 
 
The Company has invested in various energy related portfolio companies, both 
in China and abroad, which include Hongbo Mining, Stonehold, GNL Quebec, 
LNGL, JOVO, and JUSDA Energy, etc., covering investments in upstream crude 
oil assets and strategic investments throughout LNG value chain. 
 
The Company will broaden its income stream and achieve sustainable growth 
through unyielding pursuit of attractive investment returns with 
determination to unleash value-creating projects in high-growth sectors. 
 
For further information, please refer to IDG Energy Investment's website: 
www.idgenergyinv.com [1] 
 
This press release is disseminated by *Financial PR (HK) Limited* on behalf 
of *IDG Energy Investment Limited*. 
 
*IDG Energy Investment* 
Media Contact: Ms. Lydia Zhong Email: [e-mail] 
Tel: [phone] 
*Financial PR (HK) Limited* 
 
Mr. Tim Yue    Email: [e-mail] 
Ms. Dawn Lee   Email: [e-mail] 
Ms. Zoey Qiu   Email: [e-mail] 
Ms. Carol Zhou Email: [e-mail] 
Tel:           [phone] 
Fax:           [phone] 
 
Document: http://n.eqs.com/c/fncls.ssp?u=PMIIQBMMUG [2] 
Document title: IDG Energy Investment Sets Foot in New Mobility Industry for 
Broader and Diverse Return 
 
25/11/2019 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: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=98dd72607039f9863db99dbbd931c452&application_id=920455&site_id=vwd&application_name=news 
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=739a1bddd16c8854bd6eb4443d48c453&application_id=920455&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

November 24, 2019 21:03 ET (02:03 GMT)