CFCG Signs Huarong Convertible Bond Restructuring Agreement, Welcomes Major Turnaround in Development


On 13 January 2022, China First Capital Group Co., Ltd. ("First Capital Group" or "Group"; Stock Code: 1269.HK ) is pleased to announce that it has reached an agreement on the terms and conditions of Huarong Convertible Bond Restructuring Agreement with subsidiary of Huarong and other relevant parties and has signed the restructuring agreement. It will advance the restructuring arrangement of the Convertible Bonds in a conditional and step-by-step manner.

The Group welcomes and appreciates the joint efforts of all the parties involved, and is particularly grateful for the trust and support of the relevant parties to the Group and their confidence in the Group's business and future growth prospects.

The Group believes that as the restructuring plan is gradually implemented, it will gradually be relieved of its greatest risks and uncertainties. Its businesses will gradually return to normal and it will see significant opportunities. The Group will take this chance to move forward without forgetting our original intention, develop our businesses and improve operating results, so as to live up to the expectations of our shareholders, investors, customers, partners and colleagues. We will fulfill the long-term support and high expectations of the public with  practical actions and achievements. In the future, we will make full use of our resources and professional advantages with courage and confidence to contribute to the economic and social development of Hong Kong and the Mainland.

In recent years, the integration of Hong Kong and Mainland has accelerated. Hong Kong's status as an international financial center has become more consolidated. The domestic capital market has further deepened its reform. With the establishment of Beijing Stock Exchange, the promotion of the registration system of the Science and Technology Innovation Board, the implementation of new regulations on mergers and acquisitions and restructuring, and the optimization of the refinancing system, etc., policy benefits have been released continuously. The Group is bound to embrace new development opportunities. It will adhere to the core value of "all for the sake of our clients" and is committed to providing comprehensive and professional innovative services to our clients.

In the recently concluded "Group 2021 middle and senior staff report and 2022 work conference", the Group's leadership clearly Specified the management objectives and requirements on business development in 2022: firstly, the Group will make every effort to promote debt restructuring, resolve major risks in a timely manner, and strive to create a new flexible platform for rapid development with a new business structure; Secondly, we will endeavor to develop the business characteristics of the financial sector, innovate business with the integration of "investment + investment banking", increase project development and contracting, take the initiative to plan and provide a package of solutions in line with customer needs, and rely on customized and specialized services to achieve the differentiation of industry competition and our own resource endowment. We will also strengthen business synergy and linkage among Hong Kong, Singapore and Mainland. Thirdly, the education operation segment insists on innovative business development, vigorously develops vocational education in line with the policy, and gives full play to the synergy effect on existing education businesses and actively promotes the expansion of new businesses among various projects to increase new growth of the Group's performance.

Looking ahead to 2022, compliant operation and value creation will be the core keywords of the Group. In the new economic situation and environment, all employees will also follow the pace of the Group's development, firmly put our faith in development, maintain determination, create self-value and promote the steady development of the Group!