Forchn Holdings Announces Hong Kong Office Opening

Hong Kong, 5 JULY 2018 – Forchn Holdings, sponsor of SGX-listed EC World REIT (SGX: BWCU) has opened an international office in Hong Kong SAR. The entity – called Forchn International (Hong Kong) Limited – is located at the ICBC Tower, 3 Garden Road, in Central, Hong Kong.

Forchn Holdings is a Shanghai-based, privately held investment holding company established in 1992 with major operations in Hangzhou, China. As a founding shareholder of Alibaba’s China Smart Logistic Network, also known as Cai Niao Network, and Ruyicang E-commerce Logistics Service, Forchn Holdings owns a robust and broad portfolio in Chinese e-commerce logistics services and warehousing, e-commerce real estate, health & wellness, manufacturing and financial service industries. It is also the owner of iconic brands including the luxurious Fuchun Golf Resort in Hangzhou and the elegant 400-year old cutlery brand, Zhang Xiao Quan.

According to Mr. Zhang Guobiao, Chairman of Forchn Holdings, “This is an important milestone for us. As one of the world’s leading financial centres, Hong Kong is strategically located at the heart of Asia and will provide us the access to capital markets that we need. Plans for the Hong Kong office includes setting up private equity funds and launching our offshore asset management business. It is a very exciting time for us.”

Mr. Zhang Xincheng, Chairman of Forchn International and Chief Financial Officer of Forchn Holdings will head the Hong Kong office. He says, “The Hong Kong office will be instrumental in making inroads to access capital markets in Greater China. By having a local presence, it enables us to be closer to prospective customers and institutional investors. It is in line with our long-term growth strategy.”

In his capacity as Vice Chairman of Forchn International and Chief Investment Officer of the Group, Mr. Ren Wang will lead the Group’s international operations in Hong Kong and Singapore, as well as the Group’s overall investment activities. Mr. Wang joined Forchn in February 2018. He brings almost 20 years of investment and banking experience to the Group, and had previously held various senior positions including Chief Financial Officer of China Minsheng Financial Holding, President of Asia of Jefferies, and Head of Asia Financial institutions Group of UBS Investment Bank.

Forchn Holdings currently has a Singapore office that oversees its expansion and footprint in Southeast Asia. Together with its Singapore-based partner YCH, the partners recently launched the US$150 million Forchn-YCH Belt Road Initiative (BRI) Logistics Asset Private Equity Fund, which will be marketed in the second half of 2018.

About Forchn Holdings

Forchn Holdings is a Shanghai-based, privately held investment holding company established in 1992 with major operations in Hangzhou, China. As a founding shareholder of Alibaba’s China Smart Logistic Network, also known as Cai Niao Network, and Ruyicang E-commerce Logistics Service, Forchn owns a robust and broad portfolio in Chinese e-commerce logistics services and warehousing, e-commerce real estate, health & wellness, manufacturing and financial service industries. It is the owner of iconic brands including the luxurious Fuchun Golf Resort in Hangzhou 富春山居度假村 and the elegant 400-year old cutlery brand, Zhang Xiao Quan 張小泉 in China.

Forchn Holdings is also the sponsor of EC World REIT (SGX: BWCU), a Singapore real estate investment trust that invests in a diversified portfolio of real estate in e-commerce, supply-chain management and logistics, as well as real estate-related assets. EC World Reit has an asset portfolio valued at S$1.37 billion.

Forchn is known as 富春 in Chinese. For more information, please visit www.forchn.com.cn