New investment in V2 International (9988W)
30 11월 2010 - 4:00PM
UK Regulatory
TIDMYCI
RNS Number : 9988W
Yangtze China Investment Limited
30 November 2010
Press Release 30 November 2010
Yangtze China Investment Limited
("Yangtze" or the "Company")
New investment in V2 International
Yangtze China Investment Limited (AIM: YCI), a provider of
expansion capital to China-based enterprises, today announces that
it has just completed its investment into V2 International Vision
Photography Co., Ltd. ("V2 International"), a professional
photographic group.
The Company has invested US$3.74 million in V2 International,
the holding company of a professional photographic group based in
Chengdu, Sichuan, China. V2 International has issued to Yangtze
convertible preferred shares of 12 per cent. dividend per annum for
a term of three years representing, upon full conversion, a stake
of not less than 27.5 per cent. of the equity share capital of V2
International on a fully diluted basis. The terms of the investment
provide Yangtze with the right to appoint up to three directors to
the board of V2 International and certain other investor rights in
accordance with the Company's investment guidelines.
Incorporated in the British Virgin Islands, V2 International has
been established to facilitate the investment by the Company and
the subsequent corporate restructuring of the group that will be
implemented following completion. The group is principally engaged
in the provision of professional photographic service marketing
under the brand names of "V2" and "Xiqu". A wide range of
professional photographic services and products are provided by the
group through a network of ten self-owned and franchised studios in
the People's Republic of China ("PRC") together with another one in
New Zealand. The group specialises in high-end outdoor wedding and
portrait photography and offers customers with a differentiated
contemporary outdoor style of photography experience. To ensure
high quality and artistically appealing portraits, customers are
assigned an exclusive team of a professional photographer, lighting
crew, make-up and hair stylists during their photo-shoot sessions.
The group is believed to be the pioneer in launching and promoting
"Wedding Photography with Travelling" in China and all their
studios are located in cities renowned with tourists for stunning
scenery and historic attractions.
To date, V2 International operates at a small profit and
generates revenues principally through the provision of photography
services and sale of image-related merchandises. Another major
source of revenue is primarily derived from the sale of additional
photos and merchandises not included in the initial sale package.
In addition, the company also operates a photography training
school in Chengdu providing professional and amateur photographers
with various training courses to meet the market demand driven by
the increased popularity of digital cameras.
The funds invested by Yangtze will enable V2 International to
raise the group's profile through increased marketing and promotion
of its brands and products, expand the in-house image processing
centre and the photography training school, and fund the
establishment of a sales and customer management centre as well as
procuring photographic equipment to meet technological changes.
China has emerged as the fastest growing economy in the world
and as disposable income of the Chinese continues to grow,
expenditure on weddings which are considered as an
'once-in-a-lifetime' event is expected to grow in tandem.
Statistics show that more than eleven million couples married in
China in 2009, setting the highest record in 25 years. The post-80s
generation is reaching marriage age as a huge social group, the
wedding sector is therefore expected to maintain strong momentum in
growth over the next ten years. Furthermore, with the one-child
policy in China, Chinese parents continue to spend more on their
children, so baby products and services remain a fast growth market
in China. In order to tap into this lucrative "Little Emperor"
market, a bright and colourful childrens studio with playing area
and toys was recently opened by V2 International targeting families
who seek to commemorate the coming-of-age milestones for their
children.
- Ends -
For further information:
Yangtze Capital Advisory Limited
Richard Zhao Tel: +852 2281 7218
www.yangtzecn.com
Collins Stewart Europe Limited
Adrian Hadden Tel: +44 (0) 20 7523
8350
www.collinsstewart.com
Media enquiries:
Abchurch Communications Limited
Henry Harrison-Topham / Quincy Allan Tel: +44 (0) 20 7398
7710
quincy.allan@abchurch-group.com www.abchurch-group.com
Notes to Editors
Yangtze China Investment Limited is a closed-ended investment
company established to make minority equity and equity-related
investments in a portfolio of small and medium-sized growth
businesses within, or associated with, the consumer sector in
China. With a proprietary deal flow, the Group focuses on unlisted
companies whose business operations are based principally in
mainland China. Yangtze typically seeks to invest in companies that
are revenue generating, ideally profitable or anticipated to
generate profits in the near term and which the Group believes have
strong management teams and market leading potential.
Yangtze aims to capitalise on the growing disposable income in
China, investing primarily in companies operating in a variety of
consumer sectors, including consumer-related technology, media and
advertising, entertainment, distribution and retailing of consumer
goods and services and health goods and services.
Since the free market reforms in 1978, China's GDP has grown at
an average of 9.9% a year recording annual GDP growth of 8.7% in
2009. Government reforms are transforming the economy, with a focus
on domestic consumption, infrastructure spending and increasingly
upon environmental issues.
For further information, please see www.yangtzecn.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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