HONG KONG, CHINA - Media OutReach - 8 October 2019 - Landing International Development Limited Chairman Yang Zhihui has recently bought an equity interest in China Dive Company Limited (stock code: 300526.SZ), a Shenzhen-listed A share that develops and manufactures equipment for diving and underwater rescue and provides training courses in diving. This is a significant move by Mr. Yang since he resumed his duties at the Hong Kong-listed Landing International (stock code: 582.HK) in November last year.
According to an announcement issued by China Dive, the entire equity stake in the A share'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 an agreement. Gem Investment (Hong Kong) holds a 24.46% stake in China Dive.
Mr. Yang states in a legal document about the transfer of the equity stake in China Dive that he has acquired the entire equity stake in Gem Investment (Hong Kong) because he is confident about China Dive's prospect of consistent, steady development and appreciates its enterprise value. His investment in China Dive could also help to boost investor confidence in that company. He also believes that China Dive is a manufacturing firm that has core competencies such as core technologies, professional talent, and as such, it is a small or medium sized company with huge potential. Mr. Yang has many years of experience in the entertainment industry so he has gained insights into it and business development. China Dive offers comprehensive services to customers, including equipment rental, training courses in diving and running dive tourism. He expresses a view that the arrival of the era of consumption upgrade boded well for China Dive's future.
Of Anhui descent, Mr. Yang made his first fortune from property development in mainland China. He also once made it to Hurun Report's list of the richest people in China. He later extended his business presence to an overseas market through the Hong Kong-listed Landing International -- the company has established an integrated leisure and entertainment resort on a site of 2.5 million square metres on Jeju Island of South Korea. Mr. Yang's investment in such a high-technology firm as China Dive has also marked his return to mainland China'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. This is conducive to the development of enterprises." Mr. Yang adds that many Chinese entrepreneurs are returning to mainland China as they regard the country as a fertile ground for start-ups. His investment in China Dive can also be viewed as part of the trend.