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Company Profile

China Development Financial (CDF) was established in 2001 following a share swap managed by China Development Industrial Bank (CDIB, the former entity of CDIB Capital Group). With its key subsidiaries, CDIB Capital Group, KGI Bank, KGI Securities and China Life Insurance, CDF enjoys a leading position in the venture capital and investment banking markets in Taiwan.
 
CDIB Capital Group - Focusing on Core Businesses of Private Equity Investment & Venture Capital Asset Management
CDIB Capital Group, formerly China Development Industrial Bank, was the first private development-oriented financial institution in Taiwan. It has long worked in close partnership with the government to play a pivotal role in supporting Taiwan's industrial development and economic growth through pioneering the local venture capital and investment banking markets. Today, CDIB Capital Group remains the predominant leader in venture capital business in Taiwan, with a market share of over 30%. In recent years, CDIB Capital Group has been proactively engaged in the administration’s call for a structural upgrade in the financial sector by focusing on raising and managing private equity funds and venture capital assets, and is backed by a wealth of experience supporting Taiwan’s industrial development. Looking forward, CDIB Capital Group aims to become one of the best private equity/venture capital asset management companies in the Asia-Pacific region.
 
KGI Bank - Offering a Full Range of Quality Commercial Banking Services
KGI Bank's operations include deposits/lending, credit cards, wealth management, consumer banking, corporate banking, global markets, and foreign exchange transactions. KGI Bank has actively launched a variety of innovative products and services to keep pace with the digital era in recent years, providing everything from traditional services to internet- and mobile device-based platforms for swift banking at customers’ fingertips. KGI Bank will continue to differentiate and diversify its financial services to earn the support and trust of customers, aiming to become a top bank with a local foundation and relentless innovation.
 
KGI Securities – Peer-Leading Underwriting Business & International Presence
KGI Securities is a market leader in a broad range of areas, including brokerage, wealth management, proprietary trading, underwriting, fixed income and a variety of derivatives products. Not only is KGI Securities the leading brokerage house in Taiwan, it is also ranked number one in the underwriting market. In addition to Taiwan, KGI Securities has a presence in Hong Kong, Thailand, Singapore, Indonesia and China. As one of the first local securities firms to expand abroad, enabling it to benefit from the industry’s most well-established overseas presence, KGI Securities now derives over 20% of its profit from overseas operations. Going forward, investment banking, the opening of offshore securities units (OSU), and mainland China joint-ventures will be new business opportunities for KGI Securities to capitalize on to accelerate growth as it aspires to become an exceptional investment bank in the Asia-Pacific region.
China Life is dedicated to the vision of maximizing benefits and value for the insured, shareholders, employees and society, as well as becoming the most trusted insurance company in Taiwan. China Life places a premium on the rights of the insured, develops a variety of products to meet clients’ demands, offers customized and considerate services, applies state-of-the-art fintech, and promotes micro-insurance policies to serve economically-disadvantaged citizens. China Life has always been pragmatic, professional, and reliable. Not only have we consistently improved corporate governance and internal controls, we’ve also played a stabilizing role in society as a member of the life insurance industry. This is our way of fulfilling our social responsibility. In the future, China Life will hold on to the core spirit of ‘We Share, We Link,’ and operate with forward-looking thinking, strong financial solvency, prudent corporate governance and risk management mechanisms. China Life works with interested parties to create shared value, lives up to the vision of business sustainability, and aspires to become a model enterprise in the life insurance sector.
 
Over the past 50 years, CDF has not only established a close-knit industrial network, but has also been an important driving force in the process of Taiwan’s industrial development. CDF has accumulated over 50 years of experience in principal investments, and most of the clients in whom CDF invested have successfully extended their reach from Taiwan to Greater China and to other major markets around the world. While following a “Taiwan first” philosophy that makes Taiwan the top priority, CDF will also actively deploy its extensive network across Greater China in the future, and move ever closer to our goal of becoming a leading financial group for Chinese-speaking communities around the world.

History

On June 20, 2001, a shareholders' meeting convened by China Development Industrial Bank (CDIB; the former entity of CDIB Capital Group) approved a resolution to establish China Development Financial (CDF) via a share swap. Upon approval of the authorities on November 28, 2001, CDF was formally incorporated and launched its IPO on the TWSE on December 28, 2001.
 
CDIB Capital Group, formerly China Development Corporation and later China Development Industrial Bank, was established in 1959 as Taiwan’s first privately run financial institution operating direct-investment business, born of the joint efforts of the Economic Stabilization Committee of the Executive Yuan, the World Bank, and private capital. It was restructured as an industrial bank in 1999.
 
CDIB Capital Group has long worked in close partnership with the government in support of the nation's developments. Its spearheading role at the forefront of the Taiwan economy has produced significant contribution to the nation's growth and industrial development, a credit to its pioneering pivotal role among local investment banks. On May 1, 2015, CDIB, the former entity of CDIB Capital Group, transferred its corporate banking and financial market operations to KGI Bank. This transfer allowed CDIB to fully focus on the venture capital and private equity fund businesses in Taiwan, mainland China, and the Asia-Pacific region, with the goal of increasing fee income. A strategic business transformation was made in response to future development trends in finance, and CDIB was officially renamed CDIB Capital Group on March 15, 2017, focusing on raising and managing private equity funds and committed to broadening its asset management business.
 
KGI Bank (formerly Cosmos Bank) began operations in 1992 and became a wholly-owned subsidiary of CDF on September 15, 2014 via a share swap. Cosmos Bank was later renamed KGI Bank in January 2015. On May 1, 2015, CDF transferred the corporate banking, financial market operations and the associated liabilities from CDIB (the former entity of CDIB Capital Group) to KGI Bank. This transfer has equipped KGI Bank to offer a complete range of banking services and products. KGI Bank will remain committed to the dual strategy of cross-selling and capital utilization, seizing opportunities to rapidly strengthen its competitiveness and expand its business toward internationalization by establishing branches overseas.
 
KGI Securities began operations in 1988 and has been a leading brokerage house in Taiwan. Over the years, KGI Securities has conducted multiple M&A activities and branch expansions. Following the acquisition of Taishin Securities in December 2009, KGI Securities became the second largest brokerage firm in Taiwan. KGI Securities was later acquired by CDF and became a wholly-owned subsidiary on January 18, 2013 via open-market purchases and share swaps. On June 22, 2013, KGI Securities merged with CDF’s subsidiary Grand Cathay Securities, with KGI Securities being the surviving entity. To further strengthen KGI Securities’ position as a leading brokerage house for investment banking in Taiwan, the firm has continued to capitalize on CDF’s abundant resources at home and abroad. KGI Securities remains committed to broadening its presence throughout the Asia-Pacific region as it strives to strengthen regional leadership.
 
China Development Financial (CDF) publicly acquired a 25.33% stake in China Life Insurance on September 13, 2017, making it the single largest shareholder of China Life Insurance, one of the most important subsidiaries of CDF. China Life Insurance, established in 1963 and renamed as such in 1981, acquired the Taiwan branch of Switzerland-based Winterthur Life in 2007 and the assets and liabilities of UK-based Prudential PLC’s agency distribution business in Taiwan in 2009 during the financial crisis. These maneuvers provided China Life Insurance a more balanced and diversified sales channel. In addition to cultivating the Taiwan market, China Life Insurance has made an effort to explore the mainland China market. In 2010, China Life Insurance acquired a 19.9% minority stake in CCB Life, a subsidiary of China Construction Bank, the world’s second largest bank in terms of market capitalization. China Life Insurance provides life insurance expertise and full technical support to CCB Life, making CCB Life a solid stepping stone for its westward exploration of the China market.

 

Our Goal

CDF has an established reputation as a reliable partner for clients, providing venture capital investments, commercial banking, securities investments, and life insurance services, which are the four major business engines propelling CDF toward the ultimate position as the leading financial group in the Chinese-speaking marketplace.
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Words from Management

Since its founding in 1959, CDF has played a key role as a visionary in Taiwan's economic development and has proactively invested in and provided financial services to the island's major industries at various stages of industrial development.
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Corporate Citizenship

CDF is model of responsible corporate Citizenship. The company leads the way in maintaining good relations with Taiwanese society outside the business community by investing in day-to-day community welfare activities.
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