china everbright limited completes joint investment in sinowel
business related 15 jul 2015
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china everbright limited (“cel”, stock code: 165.hk) announced that it, together with tpg, keytone ventures and the existing investor kpcb, has completed the joint investment of usd 41 million in sinowel. the invested capital will be used to strengthen sinowel’s financial services capabilities, particularly in upgrading its it system as well as expanding and promoting its online wealth management platform “best wealth”.
established in 2000, sinowel is highly recognized in the banking, insurance, fund management, securities and trust industries. with the ambition to become china’s leading financial product distribution and services platform with continuous innovation and thought-leadership, sinowel’s current key focused areas include wealth management, asset management and consumer finance; generating annual revenue of more than rmb 30 billion.
with 15 years of experience in financial services and wealth management, sinowel established the online wealth management platform, best wealth, in september 2014 to capture the growing opportunities in internet finance. by combining the unique opportunity set of china’s wealth management industry with the relevant experience of the mature overseas market, best wealth built china’s first o2o wealth management ecosystem; which effectively strengthen and facilitate the product transactions and interactions between product providers and third-party financial planners. within only 10 months after the platform launch, best wealth’s total transaction volume has already surpassed rmb 10 billion.
this investment not only demonstrates a deepened collaboration between cel and sinowel after signing a partnership agreement in apr 2015, but also indicates cel’s confidence in sinowel’s long-term prospect in wealth management services. as a major investor, cel expects to add significant value in sinowel’s business development strategy，corporate governance and risk management. meanwhile, sinowel is expected to provide significant strategic value for cel’s future fund-raising activities and product distributions.
established in 2000, sinowel is highly recognized in the banking, insurance, fund management, securities and trust industries. with the ambition to become china’s leading financial product distribution and services platform with continuous innovation and thought-leadership, sinowel’s current key focused areas include wealth management, asset management and consumer finance; generating annual revenue of more than rmb 30 billion.
with 15 years of experience in financial services and wealth management, sinowel established the online wealth management platform, best wealth, in september 2014 to capture the growing opportunities in internet finance. by combining the unique opportunity set of china’s wealth management industry with the relevant experience of the mature overseas market, best wealth built china’s first o2o wealth management ecosystem; which effectively strengthen and facilitate the product transactions and interactions between product providers and third-party financial planners. within only 10 months after the platform launch, best wealth’s total transaction volume has already surpassed rmb 10 billion.
this investment not only demonstrates a deepened collaboration between cel and sinowel after signing a partnership agreement in apr 2015, but also indicates cel’s confidence in sinowel’s long-term prospect in wealth management services. as a major investor, cel expects to add significant value in sinowel’s business development strategy，corporate governance and risk management. meanwhile, sinowel is expected to provide significant strategic value for cel’s future fund-raising activities and product distributions.
