CBG Added as Constituent Stock of MSCI Hong Kong Micro Cap Index
- Written by ACN Newswire
MSCI is a provider of global equity indices and benchmark related products and services to investors worldwide. The MSCI Hong Kong Micro Cap Index is one of the most widely used equity benchmarks among institutional investors. It covers companies with good operational results and potential. Assessments are based on key factors namely, minimum market capitalization, free float and liquidity.
The Management of CBG believe that being added as a constituent stock of MSCI Hong Kong Micro Cap Index has demonstrated the capital market's confidence on CBG's future development and prospects. It is also a testimony of the Group's great efforts on its strategic business restructure and diversifying its business for sustainable development.
CBG is always striving to seek more business opportunities to promote its long-term development. While improving its jewelry trading and retailing business, as well as money lending business, the Group has also tapped into the promising banking business by acquiring 80% of the issued share capital of CBG Fintech Holdings Limited. To move further, CBG has submitted the application to AFSA for a full banking licence in Astana International Financial Centre ("AIFC") on 9 November 2020, which is expected to be granted in around June 2021 and commence soft launch in August 2021.
The Group is actively seizing the development opportunities of Guangdong-Hong Kong-Macao Greater Bay Area, which is one of the most open and most dynamic regions in China, and relying on which will lay a solid foundation for the Group to march toward the global market in the near future. As digital banking is becoming the main trend due to the increasing demand on the multidimension banking and financial services, the Group believes this new business segment will bring great impetus to CBG and will further increase the Group's revenue.
Mr. Zhang Chunhua, Chairman & Executive Director of CBG said, "We are very glad to gained the confidence and support from capital market, which we believe will further enhance CBG's reputation and stock liquidity and realize its investment value in the future. Amid the challenging economic environment nowadays, we will critically review the opportunities in our existing businesses with a target to re-allocate the Group's resources for a more fruitful manner. We will also focus our work on strengthening the marketing and channel resources, increasing user base and improving the quality of our products. By leveraging the Group's strategic moves of business restructure and business diversification, CBG is expected to maintain its sustainable development and ultimately bring maximum benefits to the Group's shareholders."
About China Brilliant Global LimitedChina Brilliant Global Limited ("CBG") was incorporated in the Cayman Islands in 1989 and listed on the Growth Enterprise Market of the Hong Kong Stock Exchange in March 2000. Since 2018, CBG is devoted to pursuing its business restructure and diversifying its revenue base to jewelry trading and retailing, money lending business as well as the operation of digital banking services in AIFC.
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