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    1410   KYG290121048

EDVANCE INTERNATIONAL HOLDINGS LIMITED

(1410)
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Edvance International : VOLUNTARY ANNOUNCEMENT - UPDATE ON FINTECH BUSINESS

05/12/2021 | 07:00pm EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the content of this announcement.

This announcement is for information purpose only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities.

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1410)

VOLUNTARY ANNOUNCEMENT -

UPDATE ON FINTECH BUSINESS

The announcement is made by Edvance International Holdings Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis to inform its shareholders and potential investors of the latest business development of the Group.

1. PROPOSED FUND RAISING THROUGH SECURITY TOKEN OFFERING ("STO")

The Company is preparing for a proposed STO (the "Proposed Offering") by Green Radar Holdings Limited ("GR Holdings"), a direct wholly-owned subsidiary of the Company. GR Holdings conducts the Proposed Offering aiming to (i) raise fund to fuel the business expansion and the continuous research and development of its cybersecurity service; (ii) establish the Group's presence and influence in the emerging financial technology and digital asset market; and (iii) conduct the first regulated offering of security tokens using blockchain technology in Hong Kong.

The Proposed Offering will be conducted in accordance with all applicable legal and regulatory requirements, including but not limited to the Securities and Futures Ordinance ("SFO") and the Statement on Security Token Offerings issued by the Securities and Future Commission (the "SFC") on 28 March 2019. The Group is in the course of consultation with the SFC and The Stock Exchange of Hong Kong Limited regarding the Proposed Offering. The security tokens to be issued pursuant to the Proposed Offering is expected to be offered to professional investors (has the meaning ascribed thereto under the SFO) only.

Reasons for the Proposed Offering

The board ("Board") of directors of the Company considers that cryptocurrency and other digital assets are increasingly recognised by the public, and there is a broad recognition of the increase of application of blockchain related financing and importance of blockchain technology. An example is that on 12 December 2020, the SFC granted the first licence for operation of a virtual asset trading platform. The Board is confident with the prospects of STO in Hong Kong. The Proposed Offering also echoes the Company's blueprint to branch into the development of the STO market.

  • 1 -
  1. EXTENSION TO VIRTUAL ASSET MANAGEMENT UNDER AXION GLOBAL ASSET MANAGEMENT LIMITED
    Axion Global Asset Management Limited ("AGAM") (formerly known as Royston Securities Limited), an indirect 60% owned subsidiary of the Company and a licensed intermediary to carry out Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) activities, is in preparation to expand its business to act as a Virtual Asset Fund Manager and a Virtual Asset Fund Distributor. AGAM is committed to comply with all applicable requirements, including the Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets issued by the SFC in October 2019. The Board believes that this is an important step in effecting the Group's long- term strategy.
  2. DEVELOPMENT OF FINTECH VENTURE AND INVESTMENT OF THE COMPANY
    With a view that the blockchain technology will dominate the future of capital financing, the Company has been paving the way to embrace the opportunities derived from the technology development which include investment opportunity in potential projects and building technical infrastructure for the emerging STO market. In 2020, the Company established Axion Global Digits Technology (Hong Kong) Limited, an investment and incubation arm of the Group to build fintech and cybersecurity products by leveraging the knowhow and network of the Group accumulated in the cybersecurity market.

With the abovementioned development plans, the Company is keen to demonstrate to its investors and stakeholders its determination to tap into the digital technology industry as a pioneer of the cybersecurity market, with deep involvement from technology research and development to corporate venture and digital asset management.

The Company may make further announcements to update on the major progress of the abovementioned matters as and when appropriate. As these matters are in their preliminary stages, shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.

By order of the Board

Edvance International Holdings Limited

Liu Yui Ting Raymond

Chairman, Chief Executive Officer and Executive Director

Hong Kong, 12 May 2021

As at the date of this announcement, the executive Directors are Mr. Liu Yui Ting Raymond, Mr. Lee Francis Sung Kei, Mr. Von John, and Mr. Lam Tak Ling, the non-executive Directors are Dr. Tang Sing Hing Kenny and Mr. Lo Wai Ho Ashley, and the independent non-executive Directors are Mr. Yu Kwok Chun Raymond, Mr. Ng Tsz Fung Jimmy, Mr. Chan Siu Ming Simon and Mrs. Wong Hung Flavia Yuen Yee.

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Disclaimer

Edvance International Holdings Ltd. published this content on 12 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2021 22:59:01 UTC.


© Publicnow 2021
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Financials
Sales 2021 411 M 52,8 M 52,8 M
Net income 2021 34,7 M 4,47 M 4,47 M
Net cash 2021 46,0 M 5,91 M 5,91 M
P/E ratio 2021 14,4x
Yield 2021 2,00%
Capitalization 603 M 77,6 M 77,6 M
EV / Sales 2020 0,79x
EV / Sales 2021 1,11x
Nbr of Employees 128
Free-Float 32,8%
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Managers and Directors
Yui Ting Liu Chairman & Chief Executive Officer
Sui Cheong Tang Director-Technical Services
John Von Executive Director & Compliance Officer
Wai Chi Law Director-Internal Control & Compliance
Chun Fai Yuen Secretary & Compliance Officer