China Brilliant Global Limited was incorporated in the Cayman Islands in 1989 and listed on the Growth Enterprise Market (‘GEM’) of the Hong Kong Stock Exchange in March 2000. The principal activities of the Group are wholesale and retailing of jewellery, money lending and distribution of pharmaceutical and healthcare products. In addition, the Group is also making efforts to tap into the fast-growing banking business, so as to diversify its business portfolio and broaden its revenue sources.
On 4 October 2019, the Company has entered into a nonbinding memorandum of understanding with an independent third party in relation to formation of a joint venture (the “JV”). The JV will engage in banking business in Kazakhstan which is expected to commence in mid-2020. The Group considers that the formation of the JV would provide an opportunity for the Group to establish the banking business.