Hang Seng Group: Zhejiang Credit is to be held in cash by the Hang Seng Group 100% of the shares

April 3 News, Hang Seng electronic April 2 late announcement, Hang Seng Electronic received the company's holding shareholder Hang Seng Group's written notice, Zhejiang credit to the letter to the Hang Seng Group 100% of the shares, the total transaction amount of about 3.299 billion yuan.

After the completion of the transaction, Zhejiang Credit Letter will be through the Hang Seng Group holding the 20.62% stake in the Hang Seng electronics. Information shows that Ma Yun (micro-bo) holds 99.13% shares of Zhejiang Credit, Shei holds a 0.86% of the shares of Zhejiang Rong Xin, after the completion of the transaction, MA will become the actual control of Hang Seng electronics.

At the same time, Hang Seng Electronics founder and the current executive team still hold the Hang Seng Electronics about 10% of the shares.

There have been rumours that Alibaba will buy Hang Seng electronics. Hang Seng Electronic Bulletin clarified that the acquisition of the Hang Seng Group shares of the main body is Zhejiang Credit, is the natural person Ma Yun Holdings of Domestic limited liability company. In addition to Jack Ma in Alibaba Group as Chairman of the board, Zhejiang Rong Xin and Alibaba Group has no equity or control or controlled relations.

The bulletin said that the Hang Seng electronics only to financial institutions to provide financial IT software, software delivery by the customer's own operation and management, the company and the company's technology, maintenance, engineering personnel can not obtain, more likely to disclose financial customer data, financial data storage and property rights are fully owned by customer control and all. The company's cloud services business is positioned in the provision of technology platforms and services, the company will be in strict accordance with the agreement with customers, and in the framework of relevant laws and regulations to carry out business.

Hang Seng Electronics mainly to banks, securities, insurance, fund management and other financial institutions to provide applications software solutions, the company's asset management system, wealth management system, transaction management system and many other products are in the financial field of cross-industry sales. Because the domestic different types of financial institutions in the same business areas of the competition has become more and more obvious, the financial industry application software and related technical Services has become a high demand and supply of alternative related markets.

According to IDC and other third party data synthesis statistics, 2012 domestic financial application software and related technical services market size reached tens of billions of yuan, Hang Seng electronic main business revenue scale of only about 1 billion yuan, accounted for is not high. Domestic financial industry application software and services market is a fully competitive market, concentration is not high.

The bulletin said that Zhejiang Credit and its affiliates are not engaged in and Hang Seng electronic core business competition business, and the company currently does not exist upstream and downstream relationship. Therefore, the acquisition will not be in the financial industry application software and related IT services in the market, the effect of restricting competition.

As to whether the Hang Seng Electronics will give priority to the interests of other customers, the bulletin said, the Hang Seng Electronics will continue to maintain the independence of the operation, this principle has never changed in the past years, and will not change in the future.