Future Bright Mining and Shenzhen Qianhai Jun Feng Tai Financial Services Sign Acquisition Agreement

HONG KONG, May 31, 2016 /PRNewswire/ -- Future Bright Mining Holdings Limited (Stock Code: 2212) is pleased to announce that they have entered into a non-legally binding Memorandum of Understanding (MoU) to acquire 51% of the issued share capital of Shenzhen Qianhai Jun Feng Tai Financial Services Co., Ltd. ("target company").

As stated in the MoU, Future Bright Mining is to acquire an online to offline (OTO) supply chain platform and the financial self-service terminals developed by the target company. The project is expected to bring in 10 billion renminibi (RMB) of revenue per year, with the addition of 10,000 service, network and 1 million household target users in 2016.

The financial self-service terminals serve multiple functions of payment, clearing and money transfer, allowing customers to make purchases, travel and pay bills through the terminals.

Zhou Tai Ping, Chairman and Executive Director of Future Bright Mining, said the acquisition is in line with the long-term strategic interest of the company:

  1. With the rapid development of the Internet, OTO has in recent years become a new business model. Acquiring the OTO platform of the target company will help to bring online customers back to the physical stores as customers enjoy the service in a physical location after making the payment online. On the other hand, other businesses can also make use of the platform to promote their products to the customers and lower the cost. This new service is expected to bring new source of revenue for the company.
  2. The central government has pushed efforts in recent years to develop Internet finance. Providing financial services in rural villages has become a huge untapped market as banks in the Mainland China are held by the high cost of developing financial services in those areas. Our company plans to put great efforts in introducing the financial self-service terminals to the communities in rural villages and less-developed cities. The acquisition is expected to create synergy and to pave the way for strategic cooperation with service providers, banks and other financial institutions.

"As the financial self-service terminals become more popular, the mode of consumption among the public will be changed. The service network in provinces and cities across the country will help save the cost. Customers will also be able to get discounts when they make orders online. As our customers use the services more frequently, our financial analysts will be able to introduce related financial and investment plans for the customers according to their spending habits," said Zhou.

Please feel free to contact us for further information.

Notes to editors.

About Future Bright Mining Holdings Limited (Stock Code: 2212)

Future Bright Mining Holdings Limited (Stock Code: 2212) is a marble mining company and has been focusing on developing our Yiduoyan Project, which is an open pit mine located in Hubei Province of China. On 1 July 2014, in accordance with JORC Code, the Yiduoyan Project's total resource is 10.7 million m3, and its total reserve is 0.91 m3. We commenced limited commercial production in September 2014. Marble blocks mined from our Yiduoyan Project are our principal product.

Future Bright Mining Holdings Limited


16/F,Guangdong Finance Building,88 Connanght Road West,Hong Kong


+852 2104 9080


+852 2104 9060



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Source: Future Bright Mining Holdings Limited
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