Zall Development Group Receives a Capital Injection of US$20 Million from YHD Founder Yu Gang

HONG KONG, Aug. 10, 2015 /PRNewswire/-- On the evening of August 6, Zall Development Group (HKSE: 02098.HK) issued an announcement via the Hong Kong Exchanges and Clearing Limited website that the group had obtained a capital injection of US$20 million from YHD founder Yu Gang.

According to the announcement, Zall Development Group will allot and issue a total of 53,448,000 shares to third party subscribers at price of about HK$2.90 per share via private placement to raise HK$155,000,000 (approx. US$20 million), accounting for about 1.5 per cent of the total shares issued.

Yu Gang's capital injection of US$20 million into Zall Development Group demonstrated his recognition of the value of the group's many offline properties, member merchants, clients, logistics facilities and database as well as its efforts to aggressively drive the firm's online development and create China's largest integrated online and offline wholesale trading platform. The announcement further explained that Zall Development Group plans to use all capital raised via the private placement to expand into e-commerce, internet financing, logistics information and data services, among other businesses.

Zall Development Group focuses on enterprise supply chain property and trading services, with the aim of creating a global trading platform and providing clients with an online-to-offline trading platform in addition to big data and financial services as well as build service chains that incorporate real estate, logistics, port services, warehousing and processing. With over 5 million square meters of properties under management, "Zall" is a well-known trade mark in China.

Dr. Yu Gang is a co-founder of China's leading e-commerce platform YHD, and previously served as global vice president at Dell and Amazon. He is a market leader in China's e-commerce sector.

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