China Financial International Investments (HKG:0721) (CFII) said it entered into agreements earlier this week for the formation of three JV companies.

The first JV company is proposed to be principally engaged in provision of rapid and nimble small loans, financial guarantee, and enterprise development, management and financial consultation services to small and medium enterprises, sole proprietors and rural sectors (farmers, villages and agricultural industry) in Ziyang City, Sichuan Province. The authorised share capital of the JV company will be RMB200 million. CFII will subscribe for 30% of entire share capital of the JV company for a cash consideration of RMB60 million.

The second JV company is proposed to be principally engaged in provision of rapid and nimble small loans, discount of bills, assignment of loans, consultation services in connection with small loans, and clearing in connection with loans to small and medium enterprises, sole proprietors, private enterprises and rural sectors (farmers villages and agricultural industry) in Dongli District, Tianjin City. The registered capital of the JV company will be RMB100 million. CFII will subscribe for 10% of equity interests of the JV company for a cash consideration of RMB10 million.

The third JV company is proposed to be principally engaged in provision of rapid and nimble small loans, discount of bills, assignment of loans, consultation services in connection with small loans, and clearing in connection with loans to small and medium enterprises in technology industry and rural sectors (farmers, village and agricultural industry) in Tianjin City, especially Wuqing District. The authorised share capital of the JV company will be RMB100 million. CFII will subscribe for 30% of entire share capital of the JV company for a cash consideration of RMB30 million.