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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Yangtze China | YCI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 2.5001 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.5001 | 2.5001 |
| Top Posts |
|---|
Posted at 18/3/2010 13:28 by andrbea Initial investment (July 2008)Yangtze China Investment Limited (AIM:YCI.L), a provider of expansion capital to China-based enterprises, today announces that it has completed its first investment following its admission to AIM. The Company has invested US$5.0 million in Aesthetic International Holdings Group Ltd. ('Aesthetic'), the holding company for a beauty spa franchise group based in Beijing, China with around 24 full-time employees. Aesthetic has issued to Yangtze a 15% convertible loan note due 2011 representing, upon full conversion, a stake of approximately 25 per cent. of the equity share capital of Aesthetic on a fully diluted basis. The terms of the investment provide Yangtze with the right to appoint up to 2 directors to the board of Aesthetic and certain other investor rights in accordance with the Company's investment guidelines. Aesthetic, a company incorporated in the British Virgin Islands, has been established to facilitate the investment by the Company and the subsequent corporate restructuring of the group that will be implemented following completion. The business of the group is principally the sale of beauty and skincare products and services, marketed under the brand names of 'Aesthetic' and 'O'rola'. These beauty and skincare products are distributed in the Peoples Republic of China ('PRC') using a franchise beauty centre sales network. To date, Aesthetic has developed a variety of product lines, totalling approximately 200 items. The business generates revenues principally through the sale of its products, which are manufactured by two independent manufacturers. In addition to product sales, Aesthetic also generates revenues through licensing and franchising fees resulting from the use of the brand names of 'Aesthetic' and 'O'rola' by franchisees. As at 31 May 2008, Aesthetic had, through its agent, 621 direct franchised beauty centres and 696 sub-franchised beauty centres, totalling 1,317 shops throughout the PRC. Although the business is growing fast and is generating sales, it is still in its infancy and profits are currently at break-even. The funds invested will enable Aesthetic to complete the group's restructuring, raise the group's profile through increased marketing and promotion of its brands and products, expand the research and development team, and fund the establishment of beauty training and franchise management centres. Strong economic growth and the rapid urbanisation of the PRC have resulted in a larger labour force earning higher wages which has subsequently boosted the disposable income level of Chinese individuals. This rise in disposable income has directly led to an increase in household expenditure, in particular retail consumption. The combination of rising income, the increasing proportion of women in the workforce, changing attitudes to personal grooming and growing awareness of grooming trends are the fundamental drivers of China's cosmetics and toiletry industry. According to Euromonitor International, a provider of business intelligence, China's cosmetics and toiletry industry achieved RMB95 billion in retail sales in 2006. Skincare products and colour cosmetics account for the largest share of the PRC cosmetics and toiletries industry with a 31 per cent. and 11 per cent. market share respectively. Wilfred Wong, Chairman of Yangtze China Investment Limited, said: 'At the time of Yangtze's admission to AIM we stated that we would move quickly to invest the capital raised and this investment into Aesthetic marks the Group's ability to adhere to its strategic goals. 'In line with our investment strategy, Aesthetic is ideally placed to benefit from increasing disposable income in China. There is still considerable growth in the Chinese cosmetics and toiletries industry and we are confident that Aesthetic will benefit from this ongoing trend and will help generate positive returns for our shareholders.' |
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