Yang Zhihui acquires equity stake in diving equipment and service firm China Dive Company Limited

October 08, 2019 - 06:14
Yang Zhihui acquires equity stake in diving equipment and service firm China Dive Company Limited

HONGKONG, CHINA - Media OutReach - 8 October 2019 - LandingInternational Development Limited Chairman Yang Zhihui has recently bought anequity interest in China Dive Company Limited (stock code: 300526.SZ), a Shenzhen-listedA share that develops and manufactures equipment for diving and underwaterrescue and provides training courses in diving. This is a significant move byMr. Yang since he resumed his duties at the Hong Kong-listed LandingInternational (stock code: 582.HK) in November last year.


Accordingto an announcement issued by China Dive, the entire equity stake in the Ashare's second largest shareholder, Gem Investment (Hong Kong) Company Limited,has been sold by a couple Fang Pingzhang and Chen Cuiqin to Mr. Yang under anagreement. Gem Investment (Hong Kong) holds a 24.46% stake in China Dive.


Mr. Yang states in a legal documentabout the transfer of the equity stake in China Dive that he has acquired theentire equity stake in Gem Investment (Hong Kong) because he is confident aboutChina Dive's prospect of consistent, steady development and appreciates its enterprisevalue. His investment in China Dive could also help to boost investorconfidence in that company. Healso believes that China Dive is a manufacturing firm that has corecompetencies such as core technologies, professional talent, and as such, it isa small or medium sized company with huge potential. Mr. Yang has many years ofexperience in the entertainment industry so he has gained insights into it and businessdevelopment. China Dive offers comprehensive services to customers, includingequipment rental, training courses in diving and running dive tourism. Heexpresses a view that the arrival of the era of consumption upgrade boded wellfor China Dive's future.


OfAnhui descent, Mr. Yang made his first fortune from property development inmainland China. He also once made it to Hurun Report's list of the richestpeople in China. He later extended his business presence to an overseas marketthrough the Hong Kong-listed Landing International -- the company hasestablished an integrated leisure and entertainment resort on a site of 2.5million square metres on Jeju Island of South Korea. Mr. Yang's investment in sucha high-technology firm as China Dive has also marked his return to mainlandChina's market. He once explained his move to the media in the country, saying,"The state has made a great effort to improve the operating environment. Thisis conducive to the development of enterprises." Mr. Yang adds that manyChinese entrepreneurs are returning to mainland China as they regard thecountry as a fertile ground for start-ups. His investment in China Dive canalso be viewed as part of the trend.