HONG KONG, Sept. 24, 2018 /PRNewswire/ -- X Financial (NYSE:XYF), China's leading Internet financial platform, debuted on the New York Stock Exchange (NYSE) on September 19, U.S. local time. China Everbright Securities International Limited^ ("EBSI" or the "Company") was co-manager for the IPO of X Financial.

On its first day of trading in New York, X Financial saw its share price open at US$15, up about 58% compared to its IPO price of US$9.5. X Financial surged to US$20.30, posting a gain of about 114% before closing with a rise of approximately 26%, highlighting substantial market enthusiasm. EBSI assisted X Financial in bringing several reputed international funds on board in a short time frame.

X Financial issued 11.1 million ADS shares to raise about US$105 million from the IPO. X Financial has a share capital of US$302 million and a market capitalization of US$1.435 billion. The funds raised will be used for product development, sales and marketing, improving technology infrastructure, as well as potential acquisitions and investments in technology and business solutions.

At the end of June 2018, X Financial's net revenue stood at RMB1.848 billion (equivalent to approximately US$279 million), a steep increase from RMB605 million a year earlier. In H1 2018, its net profit soared year-on-year to RMB443 million (equivalent to about US$66.99 million).

EBSI has been accumulating experience in the Hong Kong capital market. The X Financial IPO was EBSI's first U.S. IPO project, a key step forward for the development of the Company's Corporate Finance and Capital Markets business, and also a milestone in taking its internationalization to the next step. Looking ahead, EBSI will continue to build its strength, open up new horizons via internationalization, and move towards making the business flourish across the world.

About Everbright Sun Hung Kai Company Limited

Everbright Sun Hung Kai Company Limited ("EBSHKCL") is a leading financial institution with four core businesses, Wealth Management and Brokerage, Corporate Finance and Capital Markets, Asset Management, Investment and Structured Financing. Operating under the Everbright Sun Hung Kai brand ("EBSHK") as well as the EBSHK Direct and EBSHK Private sub-brands, EBSHKCL is a subsidiary of Everbright Securities Company Limited ("Everbright Securities", SSE: 601788, HKEX: 6178), with Sun Hung Kai & Co. Limited (HKEX: 86) as its substantial shareholder, serving individual, corporate and institutional clients in Hong Kong, Macau, Mainland China and the U.K.

Backed by Everbright Securities and China Everbright Group member companies, coupled with its heritage in the financial industry beginning in 1969, EBSHK has emerged to be a full-fledged financial platform providing excellent cross-border and global financial services with Moody's "Baa3" long-term issuer and "Prime-3" short-term issuer credit ratings. EBSHKCL, through its subsidiaries, currently has over HK$143 billion* in assets under management, custody and/or advice. For more information, please visit www.ebshk.com.

*As of June 30, 2018

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http://www.ebshk.com

SOURCE Everbright Sun Hung Kai Company Limited