“First Capital Corporate Services Limited”---a Subsidiary of China First Capital Group Limited was Awarded the TCSP License


First Capital Corporate Services Limited (First Capital Corporate Services for short), a wholly-owned subsidiary of China First Capital Group Limited (First Capital for short, Stock Code: 1269.HK) was awarded the “Trust or Company Service Provider License” (TCSP) on Sep.29th, license No.: TC008643.

Henceforth, First Capital Corporate Services is an official license holder of TCSP, with the availability of conducting business like trust, corporate registration services, secretary management services, bank account opening services, finance and taxation services, trademarking services and other professional services in accordance with law constitutes.

In January of 2018, the Companies Registry of Hong Kong released an announcement that according to Cap.615 Anti-Money Laundering and Counter-Terrorist Financing Ordinance, the regulation of licenses for trust or company service providers would come into effect from March 1st, 2018. According to this regulation, the trust or company service providers can only provide business of trust and company services in Hong Kong after applying licenses to the Registrar of Companies, as well as meeting the "fit and proper person" criteria. Anyone who operates business of trust or company services without a license will be considered as a crime. Likewise, a Hong Kong corporate who chooses an unlicensed institution as a secretary company will also be punished.

Under the new licensing regulation, license holders of TCSP must establish adequate and appropriate policy, procedure and control measure, which is their responsibility in anti-money laundering and counter-terrorist financing. Additionally, as required by the Companies Registry of Hong Kong, license holders of TCSP also need to provide relevant materials of business.

As ”First Capital Corporate Services” , a wholly-owned subsidiary becomes a license holder of TCSP, First Capital will further extend its business scale and actively expand new business, facilitating harmonious development of various businesses of the company and promoting the linkage between Hong Kong, Mainland China and overseas markets.

Up to now, First Capital Corporate Services has developed general secretary services, company registry search services and so on. Moreover, they provide customers with greater comprehensive value with customized and professional high-quality services and cost-effective bidding advantages. At the same time, First Capital Corporate Services is speeding up in aspects of team building, business innovation, project implementation, etc., in order to build a more comprehensive business system and a more professional service process.

First Capital adheres to the diversified development strategy, providing customers with diversified products and specialized professional services.

In terms of financial services, by virtue of its susidiary’s No.1, 4, 6, 9 financial services licenses awarded by Securities and Futures Commission (SFO) as well as the qualification of private fund manager filed by Asset Management Association of China, First Capital can provide professional services such as issuing and listing sponsorship, underwriting placement, securities trading, financing advisory, M&A intermediary, financial advisory, asset management and private equity fund management.

In aspect of corporate business services, apart from secretary services, they can also provide environmental, social and governance report preparation, investor relations management and planning, financial public relations, upscale talent hunting, compliance consulting and operation management consulting, devoted to providing one stop professional operation services for the company.

First Capital will firmly hold the customer-driven core value, with a determination of being refined, specialized and strong in various businesses, with an aim to help customers achieve high-quality development.