Announces Change of Company Name to HNA Technology Investments Holdings Limited Approved at Extraordinary General Meeting
 
Aug 04, 2017
Category:

Advanced Card Systems Holdings Limited ("ACS" or the "Company"; collectively with its subsidiaries, the "Group"; stock code: 2086) is pleased to announce on 3 August that its proposed change of company name to HNA Technology Investments Holdings Limited has been approved by shareholders at an extraordinary general meeting held today.

The Company announced previously that it proposed to change the English name of the Company from "Advanced Card Systems Holdings Limited" to "HNA Technology Investments Holdings Limited" and to adopt the dual foreign name in Chinese of the Company "海航科技投資控股有限公司" to replace its existing Chinese name "龍傑智能卡控股有限公司" which had been used for identification purpose only.

Commenting on the change of company name, Mr. TONG Fu, Executive Director and Chairman of the Board, said, "In January 2017, the Group underwent a reorganisation of its shareholder structure with the introduction of HNA Technology Group Co., Ltd., a PRC-based company focusing on investment and innovation centred on technology. The change of company name will better reflect the recent change of control of the Company, and provide the Company with a more appropriate corporate image and identity which will benefit our future business development and is in the best interests of the Company and its shareholders as a whole."

Mr. Tong continued, "ACS is one of the world's leading smart card reader suppliers and has succeeded in expanding its End-to-End solution market in recent years. With its well-established businesses in technology, the new shareholder is expected to further enhance the Group's highly recognised marketing capabilities by bringing abundant resources in its expertise, capital and other aspects. Looking ahead, the Group would like to develop and engage in the business of investment in and asset management of technology related business, with a view to drawing the synergies between two companies. We are committed to building the Company into HNA Technology Group's listing flagship of technology in Hong Kong, thereby maximising shareholder value."

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About Advanced Card Systems Holdings Limited
Advanced Card Systems Holdings Limited was listed in Forbes Asia's "Best Under a Billion" list, an inter-industry list comprised of 200 top-performing publicly listed companies in the Asia-Pacific, with sales between US$5 million and US$1 billion in 2010, 2014 and 2015. Founded in 1995, its wholly owned subsidiary, Advanced Card Systems Limited (ACSL), is Asia Pacific's top supplier and one of the world's top 3 suppliers of PC-linked smart card readers. ACSL is the winner of the Product Quality Leadership Award for Smart Card Readers from Frost & Sullivan. In January 2017, ACS introduced HNA Technology Group Co., Ltd., a PRC-based company focusing on investment in and innovation of technology, as its controlling shareholder.

Visithttp://www.acs.com.hk for more information about ACS.

About HNA Technology Group Co., Ltd.
Founded in December 2016, HNA Technology Group Co., Ltd. (HNA Technology Group) is strategic mega operation holding group for future development of HNA Group Co., Ltd.(HNA Group), a Fortune Global 500 conglomerate. Relying on the rich operations mix of HNA Group, providing high value-added solutions and products to customers and business partners. HNA Technology Group is committed to becoming a top-tier high-tech holding group. Supported by its well-established businesses and ample resources, HNA Technology Group strives to build a sharing and eco- platform for traffic, logistics, capital flow and information, through operations of, and investment and innovation in cloud computing, big data, artificial intelligence and other aspects.

HNA Technology Group boasts total assets of over RMB200 billion and rakes in over RMB330 billion in annual revenue. HNA Technology Group's operations span over 160 countries in 6 continents, controlling over 40 enterprises from different industries. HNA Technology Group has over 70,000 employees across the world, among them over 60,000 are based overseas and 25,000 are from its research and development team.

This press release is distributed by Anli Financial Communications Limited on behalf of Advanced Card Systems Holdings Limited.

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