Guoan International Limited (the “Company”) (Hong Kong Stock Exchange stock code: 143 and Singapore Exchange stock code: G11) and its subsidiaries (collectively the “Group”) are principally engaged in trading of telecommunications products, provision of repair services for telecommunications products and investments in financial assets.
On the 14th December 2015, 中信国安集团有限公司 (CITIC Guoan Group*) became one of the substantial shareholders of the Company. CITIC Guoan Group is a comprehensive and large enterprise group in the People’s Republic of China (the “PRC”) market headquartered in Beijing with scope of business comprises, inter alia, finance, telecommunication, tourism, resources development, wine, real estate, culture and healthcare etc.
The Company intends to leverage on the Hong Kong and Singapore presence to expand current businesses horizontally and vertically as well as venturing into new industries and identify new investment opportunities to improve its business prospects for long term commercial interest of the Company and its shareholders. Financial plans will periodically be revisited to strengthen the Company’s financial position whilst taking into consideration the capital market conditions in formulating strategies.
*For identification purpose only