everbright zhongying capital invests in consumer finance platform mime targeting female online consumer market
business related 31 mar 2017
china everbright limited (“cel”, stock code: 165.hk) announced that subsidiary everbright zhongying capital (the “fund”), which focuses on investments in emerging, high-potential industries at the growth stage, has completed an investment in mime, a leading consumer finance platform targeting the young female demographic in china. the investment represents the fund’s formal entry into the country’s massive female consumer market.
mime is the first consumer finance company to enter the medical cosmetology industry. the company, which introduced the concept of medical cosmetology instalment plan, remains at the forefront of the industry with numerous merchant partners, deep business penetration and wide geographical coverage among other advantages. it ranks first in the medical cosmetology instalment industry with more than 1.3 million accumulative users, transaction volumes of rmb4 billion, average monthly asset growth of 20% and a market share of over 50%. supported by a professional financial team, user-friendly internet platform and superior product experience, mime has also successfully entered other consumer areas including education, travel and affordable luxury.
the consumption upgrade trend has shown strong growth in china in recent years. in 2016, individual consumer credit in china amounted to approximately rmb22.6 trillion, representing 30% of the country’s gdp and 14% of aggregate credit. however, there remains huge potential for further penetration compared to developed countries such as europe and the us.
meanwhile, economic reform programmes have had a profound effect in transforming domestic consumer trends in china, while the internet era has boosted female consumption. in addition, more chinese women are attaining financial independence and gaining influence on family expenditures. currently there are 290 million women between the ages of 25 and 45 years in china, making female consumers a major driving force as the trillion-dollar consumer finance market continues to grow.
a major investor in mime’s c-round financing, everbright zhongying capital believes mime will continue to develop across a variety of sub-sectors and realise its goal of evolving into a dedicated consumer environment for female users. mime aims to provide superior, convenient credit consumption services for users while also presenting merchants with exclusive, customised mime credit consumption solutions, harnessing the full power of finance to drive consumption upgrades. this will also maximise the potential for female users to unleash greater buying capacity.
about everbright zhongying capital
everbright zhongying capital, established in august 2016, mainly focuses on making quality investments in industries at the growth stage, such as consumption upgrading, pan-entertainment, enterprise services, internet finance and other sub-sectors. the fund has a total size of rmb5 billion. its management team offers strong resources and experience, exploring growth opportunities and arbitrage in emerging economies by extensively engaging with outstanding enterprises to drive industrial integration and equity investment. the fund recently entered two emerging industries in china, completing investments in a leading mobile video enterprise, yixia tech, and a leading e-commerce platform for second-hand cars, youxin group. the fund intends to leverage cel’s platform and resource advantages sayto continue seeking value plays in emerging industries and delivering return on investment.
mime is the first consumer finance company to enter the medical cosmetology industry. the company, which introduced the concept of medical cosmetology instalment plan, remains at the forefront of the industry with numerous merchant partners, deep business penetration and wide geographical coverage among other advantages. it ranks first in the medical cosmetology instalment industry with more than 1.3 million accumulative users, transaction volumes of rmb4 billion, average monthly asset growth of 20% and a market share of over 50%. supported by a professional financial team, user-friendly internet platform and superior product experience, mime has also successfully entered other consumer areas including education, travel and affordable luxury.
the consumption upgrade trend has shown strong growth in china in recent years. in 2016, individual consumer credit in china amounted to approximately rmb22.6 trillion, representing 30% of the country’s gdp and 14% of aggregate credit. however, there remains huge potential for further penetration compared to developed countries such as europe and the us.
meanwhile, economic reform programmes have had a profound effect in transforming domestic consumer trends in china, while the internet era has boosted female consumption. in addition, more chinese women are attaining financial independence and gaining influence on family expenditures. currently there are 290 million women between the ages of 25 and 45 years in china, making female consumers a major driving force as the trillion-dollar consumer finance market continues to grow.
a major investor in mime’s c-round financing, everbright zhongying capital believes mime will continue to develop across a variety of sub-sectors and realise its goal of evolving into a dedicated consumer environment for female users. mime aims to provide superior, convenient credit consumption services for users while also presenting merchants with exclusive, customised mime credit consumption solutions, harnessing the full power of finance to drive consumption upgrades. this will also maximise the potential for female users to unleash greater buying capacity.
about everbright zhongying capital
everbright zhongying capital, established in august 2016, mainly focuses on making quality investments in industries at the growth stage, such as consumption upgrading, pan-entertainment, enterprise services, internet finance and other sub-sectors. the fund has a total size of rmb5 billion. its management team offers strong resources and experience, exploring growth opportunities and arbitrage in emerging economies by extensively engaging with outstanding enterprises to drive industrial integration and equity investment. the fund recently entered two emerging industries in china, completing investments in a leading mobile video enterprise, yixia tech, and a leading e-commerce platform for second-hand cars, youxin group. the fund intends to leverage cel’s platform and resource advantages sayto continue seeking value plays in emerging industries and delivering return on investment.
