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08137 HONBRIDGE

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0.365 -0.005-1.35%
Not Open 10/03 16:08 CST
0.375High0.360Low1.51MVolume
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About HONBRIDGE Company

The Group was listed on the GEM of the Hong Kong Stock Exchange on January 8, 2002, with magazine publishing as its main business. On October 16, 2007, Hongqiao Capital Co., Ltd. became the new controlling shareholder of the Group by subscribing for the Group's newly issued shares and convertible notes. At the same time, the Group also reorganized its magazine publishing business, sold a number of publications, continued to operate “Xu Mo JESSICACODE” and “Lisa Taste”, and changed the company name to “Hongqiao Group Co., Ltd.” In June 2008, the acquisition of a 60% interest in Jining Karen Photovoltaics was completed at a cost of about HK$70 million, entering the renewable energy sector. Karen Photovoltaics is engaged in the production of metallic silicon and the development of solar-grade high-purity silicon (UMGs). On March 5, 2010, a formal agreement was signed with Brazil's Votorantim Novos Negócios and its subsidiaries to acquire 100% interest in its iron ore subsidiary Sur Americana de Metais S.A., at a cost of up to $405 million, and plans to build a large-scale integrated iron ore project for open-pit mines, processing plants, transportation pipelines and ports in Brazil with an annual output of 25 million tons of iron concentrate. On March 24, 2010, all of the issued share capital of Shan Jun Co., Ltd. (“Shan Jun”) was acquired at a cost of HK$880 million. After the acquisition is completed, the Group directly owns all of Shan Jun's share capital interests and will indirectly own 66% of the share capital interest of Xianglan Do Brasil Mineracao Ltd (hereinafter collectively referred to as “Xianglan Brazil Group”). The main business of the Xianglan Brazil Group is the research, exploration and commercial exploitation of mineral resources (manganese) in Brazil. On March 28, 2013, the second instalment of payments made by the Group amounted to 65 million US dollars to acquire 99.99% of SAM's shares. SAM became a subsidiary of the Group. On June 6, 2013, when the Group sold 100% of its shares in Shanjun Limited to Brilliant People Limited, it was confirmed that the total cost was approximately HK$729.8 million. On January 17, 2014, the Group sold Divine Mission Holdings Limited, a wholly-owned subsidiary of HK$3,600,000 in cash to an independent third party. Divine Mission Holdings Limited indirectly holds 60% of Jining Karen Photovoltaic Materials Co., Ltd. On September 26, 2014, the Group completed the acquisition of 90.68% of Kairong Investments Limited (“Kairong”)'s interests in Geely International (Hong Kong) Limited, Good Cheer Holdings Limited and Leads Top Limited. However, the main asset of Kairong Investment is that it holds all of the issued share capital of Shandong Hengyuan New Energy Technology Co., Ltd. (“Shandong Hengyuan”). Shandong Hengyuan is a company founded in Zoucheng, Shandong Province, China. It is mainly engaged in R&D, production and sales of lithium-ion power batteries in China. In addition to continuing to operate mineral resource exploration and development business, the Group also hopes to actively seek investment and cooperation opportunities in the fields of resources and energy.