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CHINA WAN TONG YUAN TRANSFERS LISTING TO THE MAIN BOARD STRIVES TO EXPAND FUNERAL SERVICES BUSINESS
Caitong International Capital Co., Limited was the sole sponsor to advise the Company on the transfer. Ms Zhao Ying, chairperson of China Wan Tong Yuan commented, “The Company’s transfer of listing to the Main Board provides the Company access to a larger investor base and raise the Company’s corporate profile and awareness among public investors, as well as enhancing the Company’s credibility and brand awareness . We believe that the transfer would help improve liquidity in the shares and enhance the Group’s financing options. We expect to effectively utilize the main board listing platform, fully capitalizing on resources of the capital market to support our long-term business development in order to create long-term value to shareholders.” China Wan Tong Yuan became listed on GEM in 2017. Thereafter, the Group further consolidated its market position and continuously expanded its business scale by developing the undeveloped area within its cemetery, upgrading cemetery facilities, diversifying burial related services and enhancing publicity and promotion. The Group has made continuous expansion in the sales of burial plots and columbarium units, the provision of other burial related services and cemetery maintenance services. In 2018, the revenue of the Group amounted to RMB43.4 million, representing a growth of 12.3% when compared to the RMB38.6 million reported in 2017. Profit attributable to the shareholders of the Group increased significantly from RMB7.1 million in 2017 to RMB28.2 million in 2018. In 2019, the Group’s revenue increased further as a result of the increase in burial service revenue, the revenue for the nine months ended 30 September 2019 reached RMB 51.9 million, a significant increase of 56.6% when compared with RMB 33.1 million for the corresponding period of 2018. Ms Zhao Ying noted, “After the transfer of listing to the Main board, we believe that we can further consolidate the Group’s position in the industry by leveraging the Main Board listing platform, and enhance the Group’s competitive advantage in retaining and attracting professional employees and broadening the customer base. Therefore, the transfer of listing is beneficial to the Group’s future growth, financing flexibility and business development. About China Wan Tong Yuan Picture: http://n.eqs.com/c/fncls.ssp?u=MOJDYOYAPU Subtitle: Photo: Founder of China Wan Tong Yuan (Holdings) Limited Mr. Wang Jianjun (Right) presented souvenir to Ms. Victoria Lloyd, Member of the Listing Committee of The Stock Exchange of Hong Kong Limited at the Main Board Listing Ceremony. Document: http://n.eqs.com/c/fncls.ssp?u=BBWVRYTSHS Document title: CHINA WAN TONG YUAN TRANSFERS LISTING TO THE MAIN BOARD STRIVES TO EXPAND FUNERAL SERVICES BUSINESS
17/12/2019 Dissemination of a Marketing Press Release, transmitted by EQS Group. |