LONDON, UK / ACCESSWIRE / July 10, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for China basedYintech Investment Holdings Ltd (NASDAQ: YIN), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=YIN. The Company, which is a leading provider of investment and trading services for individual customers, announced on July 07, 2017, that it has signed an agreement with SINA Corporation (NASDAQ: SINA) to form a financial software, information, and services joint venture (JV). For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Commenting on the JV, Wenbin Chen, Chairman and Chief Executive Officer of Yintech expressed:
"Our joint venture with SINA is another step in our strategy to become a provider of diversified investment and trading services to individuals in China. As we expand our service offerings, we particularly value the experience and highly successful businesses SINA has incubated as well as their extensive online media and social networking resources. Leveraging these resources and combining them with our deep understanding of, and extensive experience in serving Chinese individual investors, we are confident that our joint venture will have the support needed to rapidly grow into a market leader."
Terms of the Joint Venture Agreement
After undergoing a series of reorganization and capital increases, Yintech and SINA will take a 51% and 49% equity stake respectively, in SINA Caidao (Shanghai) Information Technology Co., Ltd ("SINA Caidao"), thereby inflating SINA Caidao's paid-in capital to RMB200 million.
The JV entity, SINA Caidao, will focus on providing financial software, information, and services to individual investors seeking investments in securities, wealth management, futures and gold products, particularly in China. The deal is expected to be completed in Q3 2017. SINA Caidao is expected to begin generating revenue in Q4 of the same year.
About Yintech Investment Holdings Limited
Founded in 2011, Yintech Investment Holdings Limited is a provider of trading and investment services for online spot commodity trading in China. The Company facilitates trading by individual customers of silver, gold, and other precious metals and commodities on the Shanghai Gold Exchange, the Tianjin Precious Metals Exchange, and the Guangdong Precious Metals Exchange. It strives to provide best-in-class financial information, investment tools, and services to individual customers utilizing the latest financial technology and mobile platform.
Yintech's customer relationship management (CRM) system allows it to manage relationships with customers, monitor, and supervise customer communications, as well as centrally manage customer information. The Company is also actively developing new businesses including gold based wealth management products, trading of cultural assets, and trading of overseas securities, in order to provide customers with a wider range of products and services. Headquartered in Shanghai, China, the Company has additional offices in Beijing, Guangzhou, Hong Kong, and Boston, and it employs around 4,000 people.
About SINA Corporation
Sina Corporation is an online media company serving China and the global Chinese communities. The Company operates via four major business lines: Sina Weibo, Sina Mobile, Sina Online, and Sinanet.
Sina enables Internet users to access professional media and user generated content in multi-media formats from personal computers and mobile devices. It offers distinct and targeted professional content on each of its region specific websites and a range of complementary offerings. The Company was founded in 1997 and is headquartered in Beijing, China.
Last Close Stock Review
At the close of trading session on Friday, July 07, 2017, Yintech Investment's stock price slightly fell 0.39% to end the day at $10.14. A total volume of 191.01 thousand shares was exchanged during the session, which was above the 3-month average volume of 174.73 thousand shares. The Company's shares are trading at a PE ratio of 3.99 and have a dividend yield of 7.89%. At Friday's closing price, the stock's net capitalization stands at $699.96 million.
SINA Corp.'s share price finished last Friday's trading session at $86.62, climbing 1.74%. A total volume of 708.50 thousand shares has exchanged hands. The Company's stock price skyrocketed 32.27% in the last three months, 36.40% in the past six months, and 89.78% in the previous twelve months. Additionally, the stock soared 54.41% since the start of the year. Shares of the Company have a PE ratio of 26.95 and currently have a market cap of $6.21 billion.
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