Joyas International Holdings Limited has incorporated a new subsidiary, Asia Growth Group Limited ("AGGL") for the purposes of carrying out the Financing Business and management services, on May 04, 2015. AGGL is a company incorporated in Hong Kong and as at the date of this announcement, AGGL has an issued and paid-up share capital of HKD 1,000. The Company intends for AGGL to operate as a licensed lender in Hong Kong to provide corporate loans and individual loans. AGGL will apply for a money lenders license for the purposes of the Financing Business.

Mr. Cheung Wai Hung, an Executive Director of the Company and Mr. Ong Chor Wei, a Non- Executive Director of the Company, shall sit as the directors of AGGL.
AGGL will be appointing two new executives, Mr. Ma Nam Shing and Mr. Cheung Chun Wai, Vincent (the "Management"), to manage the day-to-day operations of the Financing Business. Prior to joining the Group, Mr. Ma Nam Shing was the Chief Financial Officer and Credit Board Member in China Yinsheng Finance (Holding) Limited from 2011 to 2014. Prior to joining China Yinsheng Finance (Holding) Limited, Mr. Ma Nam Shing was the Chief Financial Officer of Modern Beauty Salon Holdings Limited, from 2008 to 2009 before joining Conpak Mgmt Consultants Limited as Senior Vice President since 2010. Prior to joining the Group, Mr. Cheung Chun Wai, Vincent was the Assistant General Manager at AEON Credit Service (Asia) Co. Ltd. from 2006 to 2015. Prior to joining AEON Credit Service (Asia) Co., Ltd, Mr. Cheung Chun Wai, Vincent had worked in the financial services industry with companies such as AIA and JCG Finance Co. Ltd.