HONG KONG, June 27, 2016 /PRNewswire/ -- OP Financial Investments Limited (together with its subsidiaries, "OP Financial" or the "Group"), an investment company listed on the Main Board of Hong Kong Stock Exchange (Stock code: 1140), today announces its annual results for the twelve months ended 31 March 2016 (the "Year").
The Group's net asset value ("NAV") increased to HK$1.43 per share as of 31 March 2016 (31 March 2015: HK$1.35 per share). OP Financial recorded a profit for the Year of HK$44.16 million (31 March 2015: a loss of HK$2.95 million), which was mainly attributable to the positive returns from the disposal of Zhonghui and Technovator, redemption of an incubated fund and share of results of CSOP.
The Group's cash position increased significantly to HK$1.67 billion (31 March 2015: HK$513.38 million) due to positive investment returns and the completion of its placement of 900 million ordinary shares during the Year. The net proceeds from the placing were approximately HK$1.32 billion.
The Board of Directors recommended the payment of a final dividend of HK 2.5 cents per share.
Investment Portfolio
As of 31 March 2016, OP Financial's portfolio and core investments are as follows:
Zhang Gaobo, Chief Executive Officer of OP Financial, commented: "We achieved satisfactory performances through divestment from three projects last year. We believe 2016 will be a fruitful year for our cross-border investment business, as Chinese companies continue to intensify their efforts in overseas mergers and acquisitions. A large number of PRC listed companies turn to Hong Kong for financing since China has strengthened capital control. This gives OP Financial an excellent opportunity for market penetration."
Zhang continued: "Our expertise in cross-border transactions and financing makes us the best partner for PRC listed companies. We will concentrate on industries with huge potential, such as finance, general health, modern services, high-end manufacturing and new energy, or industries lacking development, especially where efficiency can be rapidly improved through internet technologies. Meanwhile, we will also focus on financial platforms generating stable returns and creating synergies."
About OP Financial Investments Limited (Stock Code: 1140)
OP Financial Investments Limited is an investment company listed on the Hong Kong Stock Exchange (Stock code: 01140), and an exempted company with limited liability under the Companies Law of the Cayman Islands. OP Financial develops customized syndicate investment solutions leveraging proprietary capital and co-investment structures to access scalable opportunities. Part of the Oriental Patron Group, OP Financial possesses a strong global network of investment partners and industry leaders.
For further information, please contact:
Investor Relations |
|
Tel: |
(852) 2842 5888 |
Fax: |
(852) 2842 5833 |
E-mail: |
|
Website: |
Full details of our 2016 annual results have been posted on the designated website of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk and the corporate website at www.opfin.com.hk.