[23 November 2017, Hong Kong] Differ Group Holding Company Limited (“DFH” or “Company”,Stock code: 6878) together with its subsidiaries (“Group”) a leading provider of short- to medium-term financing and financing-related solutions in the PRC, announced on 21 November 2017 (after trading hours), Differ Asset Development Limited (“Differ Asset”), a wholly-owned subsidiary of the Company, will acquire the entire issued share capital of Differ Cultural Tourism Development Company Limited (“Differ Cultural Tourism Development”) at the consideration of RMB375,000,000. Upon the completion of acquisition, Differ Cultural Tourism Development become the indirect non-wholly owned subsidiary of the Company and its financial results of will be consolidated into the financial results of the Group.

Differ Cultural Tourism Development currently has two property development projects, namely Differ Sky Realm (鼎豐天境) and Chu Zhou Fu Cheng (處州府城) in Lishui city, Zhejiang Province, the PRC through its subsidiaries, with an aggregate gross floor area of approximately 471,679.1 sq.m. These two projects can be developed to a residential project and a commercial / cultural development project respectively. In addition, according to the unaudited financial statements of Differ Cultural Tourism Development for the nine months ended 30 September 2017, its Profit before tax and Profit after tax recorded approximately RMB20.8 million and RMB18.6 million respectively.

Mr. Ng Chi Chung, executive director and CEO of DFH stated, “The consideration of the acquisition is reasonable. The Group is full of confidence in capturing the development potential brought by the local economic growth and benefit from the related government policies and we believe that such premium projects will become the new driver for our profit growth. The point to be emphasized is that this acquisition is not a simple real estate development project, but more of a showcase for our asset management capability. Real estate is just one of the many different classes of assets in our portfolio. The acquisition will also benefit to the Group's cash flow and profit as the project is mature enough. It demonstrated that the asset management business development of the Group is diversifying from non-performing asset to including value asset investment. Leveraging on our success in asset management business and our competitive advantages, the Group can enhance its asset value after the resource consolidation and promote it profitability. More importantly, not only that we can diversify in asset classes, we are also extending our geographical coverage from Fujian Province to Zhejiang Province. In the future, the Group will proactively develop its non-performing asset management business while further exploring value assets with high-growth potential in order to expand product mix and revenue base, bring new momentum to business growth and maximize the returns to our shareholders”   

- end -

About Differ Group Holding Company Limited (stock code: 6878)

Headquartered in Xiamen, Differ Group Holding Company Limited mainly provides short- to medium-term financing and financing-related solutions for SMEs. The Group mainly offers five types of financing and financing-related solutions, including 1) Finance Lease Services; 2) Asset Management Services; 3) Express Loan Services; 4) Financial Guarantee Services; and 5) Financial Consultant Services. DFH has continued to achieve remarkable business results and is seeking to develop new businesses to broaden its income streams. In December 2016, the Group announced the formation of a joint venture for providing commercial factoring related services in the PRC. DFH was listed on the GEM Board of the Hong Kong Stock Exchange on 9 December 2013 and has since transferred its listing to the Main Board on 6 July 2015. The Group was selected as a constituent stock of the MSCI Small Cap Indices – China Index in May 2015 and entered the Hang Seng Composite Index in March 2016. For details, please visit its website: www.dfh.cn