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Alltronics Announces 2019 Annual Results
HONG KONG, Mar 31, 2020 - (ACN Newswire) - Alltronics Holdings Limited ("Alltronics" or the "Group") (SEHK: 833), a leading electronics products manufacturer and a provider of energy-saving business solutions, has announced its annual results for the year ended 31 December 2019 ("review year"). During the review year, the operating environment has remained challenging due to the ongoing global trade disputes and fluctuation in exchange rate. Nevertheless, the Group managed to achieve a stable revenue at HK$1,260.8 million (2018: HK$1,284.8 million). Gross profit margin slightly increased to 14.6% for the year 2019 from 14.5% for the year 2018, mainly due to improvement in production efficiency of the Group's Yichun factory after about one year of operation. The Group has also shifted production of some of its electronics products that were subject to additional tariffs imposed by the US to subcontractors in Malaysia and the Philippines, in order to reduce the impact from the Sino-US trade dispute on the Group's business. The adjusted profit from continuing operations attributable to owners of the parent (excluding the impairment losses on the overdue consideration for the disposal of the discontinued operation and the debt due from the disposed subsidiary of the discontinued operation) was HK$33.6 million (2018: HK$75.4 million).Business Review and ProspectsFor the electronic products segment, total sales revenue comprises sales of finished electronic products, plastic moulds and components and other components for electronic products. During the review year, sales of irrigation controller products and sales of walkie-talkies increased by HK$24.1 million and HK$31.3 million respectively, despite the drop of sales from components for electronic products, segmental revenue thus remained stable at HK$1,255.8 million. The demand for irrigation controller products and other major electronic products is expected to remain stable in the year 2020. In addition, new products for new customers in the PRC and in Europe are expected to be launched in 2020 to provide momentum for the continuing growth in revenue. The Group has confidence that the overall performance of the electronic products segment will remain stable in the near future. During the year, Yichun Yilian Print Tech. Co., Ltd., an associate of the Group which is established in the PRC and principally engaged in the manufacturing and sale of printers and other accessory products, and the provision of on-line printing services, has been approved as a qualified supplier of printers to governmental organisations in the PRC, which is expected to contribute continuing growth momentum to Yichun Yilian's business in the near future.Operations of the biodiesel products and energy efficient gas stoves segment continued to remain stable during the review year with total sales revenue of approximately HK$3.4 million (2018: HK$4.2 million). The Group expects that the business of biodiesel products and energy-efficient gas stoves segment will remain stable in the year 2020.The Group's energy-saving business segment consists of revenue generated from over 650 retail stores of Suning.com Co., Ltd. and two hotels operated by the HNA Group Co., Ltd. with LED lighting equipment installed. As the energy management contract with one of the hotels has expired during the review year, segmental revenue dropped to HK$1.6 million (2018: HK$3.5 million). The Group expects that the energy-saving business will remain stable in the near futureLooking ahead, in view of the uncertainty of the global economic environment and escalating geopolitical tensions from the ongoing trade dispute between the US and the PRC, the Group will continue to devote efforts to exploring new markets and new customers in order to broaden its customer base. The Group will also continue its effort to tighten the controls over production costs and overhead, and to improve production efficiency so as to maximise profitability. Mr. Lam Yin Kee, Chairman of Alltronics concluded, "Although the recent outbreak of the coronavirus disease has had an adverse impact on the business operation and overall economy worldwide, the Group has implemented various cost-cutting measures to minimise the adverse effects. We will continuously monitor the situation, assess and actively react to its impact, in order to meet customers' needs. In the coming year, we will continue to look for investment opportunities to diversify its business so as to maintain its growth momentum towards the end of providing better returns to shareholders."About Alltronics Holdings Limited (Stock code: 833)Alltronics Holdings Limited is mainly engaged in the design and manufacture of a wide range of electronics products with quality and style, supplying biodiesel products and energy efficient gas stoves, as well as the provision of energy-saving business solutions. Besides, the Group is in the process of diversifying its business into manufacturing patented Wi-Fi Products and printers. The Company is a constituent stock of the Morgan Stanley Capital International ("MSCI") Hong Kong Micro Cap Index. For more information, please visit the company website http://www.alltronics.com.hk/. Media enquiriesStrategic Financial Relations LimitedVicky Lee Tel.: +852 2864 4834 Email : vicky.lee@sprg.com.hkAngela Wong Tel.: +852 2114 4953 Email : angela.wong@sprg.com.hkPinky Hui Tel.: +852 2114 2897 Email : pinky.hui@sprg.com.hkWebsite: www.sprg.com.hk Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
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HTSC Announces 2019 Annual Results: Strengthened Capital Base with Deepened Digital Transformation across Businesses
HONG KONG, Mar 31, 2020 - (ACN Newswire) - HTSC (Stock Code: 6886.HK; "The Company") announced its annual results for the year ended December 31, 2019 ("Reporting Period"). The Company achieved RMB32.44 billion in total revenue and other gains, a year-on-year increase of 32.36%, while the profit of this year attributable to shareholders surged 78.86% to RMB9.00 billion. As a result of the Company's Global Depositary Receipts ("GDR") issuance on the London Stock Exchange through the Shanghai-London Stock Connect pilot, the Company's net assets grew to RMB 125.65billion, laying an enhanced funding profile for its multi-dimensional development in the future.Enhanced Capabilities Facilitated by Platform Innovation in Wealth ManagementAccording to the Annual Report, the Company has a customer base of nearly 14 million with total customer account assets exceeding RMB3.35 trillion as of the end of the Reporting Period. The Company's equity and fund trading volume amassed to RMB20.57 trillion, tapping the market's underlying potential while maintaining its leading position in the industry.During the reporting period, the Company fully promoted digital transformation, built an industry-leading wealth management platform, and optimized the headquarters-driven integrated service model. The mobile service platform "ZhangLe Fortune Path" underwent several upgrades to optimize its digital service offering; according to Analysys statistics, the app's NMAU (number of monthly active users) in December 2019 was 7.79 million, continuing to rank first among all securities companies' apps. During the Reporting Period, the Company comprehensively rebuilt its wealth management work platform and launched "AORTA", a cloud-based platform that serves as an important mid-end support for both customers and front-end investment advisors. Through "AORTA", the Company has provided prompt and targeted strategies and solutions to over 2,000 investment advisors in China, while ensuring the delivery of professional and high-quality services to the customers. According to statistics from the Securities Association of China, investment advisors comprise over 30% of employees of the Company by the end of the Reporting Period.In terms of financial products sales, the Company endeavored to strengthen the use of its investment research system in providing efficient insights and supporting customer product allocation, so as to enhance the competitiveness of all financial products. In 2019, the sales volume of financial products achieved RMB374.36 billion, while the number of financial products reached 5,533.With regards to capital-based intermediary business, the balance of margin financing and securities lending business of the Company amounted to RMB67.13 billion with a market share of 6.59% and an overall maintenance guarantee ratio of 314.66%, ranking first in the industry.Expanded New Economy Client Ecosystem Led by Investment Banking BusinessWith the industry's inaugural digital service system for institutional clients, the development of the Company's digital capabilities in institutional services accelerated with the aim to build a digital financial ecosystem together with its clients. In 2019, the Company launched the 2.0 version of "Xing Zhi" mobile app, an independently developed digital platform that supports online application of IPO, private placement and convertible bond projects, client engagement in research activities, and customization of financial products for institutional clients, empowering to expand client network for institutional services.With the strategy to focus on emerging markets and high-quality clients in technology industry, the Company's investment banking business reinforced the synergy between domestic and overseas businesses, and built up the industry-leading brand influence and a client ecosystem in the comprehensive health and TMT industries.During the Reporting Period, the Company was the industry front runner with 14 CSRC approved M&A and restructuring transactions, amounting to an outstanding RMB 128.07 billion. Among which, the leading restructuring project - by transaction amount disclosed - of Shuanghui I&D, the largest Chinese semiconductor M&A between China's Wingtech Technology and Nexperia Holding, and Gree's mixed ownership reform in partnership with Hillhouse Capital were some of the flagship projects.According to Wind statistics, the Company's equity underwriting in 2019 amounted to RMB132.10 billion, ranking third in the industry. During this period, the Company partook in the listing of five enterprises onto the SSE STAR Market, including HYC Technology, the first project on the STAR Market. According to SSE statistics, as of the end of the Reporting Period, there were 19 Huatai Securities sponsored companies accepted by the STAR Market, firmly cementing the Company's leadership position.The Company continued to promote and develop its platform-based investment and trading capabilities, while increasing OTC derivatives trading volume, boosting market making volumes for exchange-traded options, and maximizing the scale of income certificates. In addition, the Company's bond settlement volume soared to second place in the industry.Industry Leading Position in Active Asset Management AUMThe Company's asset management business was further augmented through enhanced business innovation, strengthened transformation towards active investment management, and a "fixed income +" product-centric strategy. During the Reporting Period, the revenue of Huatai Asset Management achieved RMB2.59 billion, growing to a new record high. According to statistics from the Asset Management Association of China, the private active asset management scale of Huatai Asset Management averaged RMB252.25 billion on a monthly basis as of the end of Q4 2019, ranking third in the industry. According to Wind statistics, Huatai Asset Management's scale of enterprise ABS (asset securitization) issuance during the Reporting Period amounted to RMB90.89 billion, ranking second in the industry.The private equity fund management business continued to focus on the comprehensive health and TMT industries, with a total AUM of RMB49.59 billion across 40 investment projects during the Reporting Period. Suzhou BrightGene, Jiangsu Bioperfectus Technologies and Shenzhen Lifotronic Technology, invested by Huatai Purple Gold Investment, were listed on the STAR board in 2019; in light of the recent COVID-19 pandemic, the COVID-19 Nucleic Acid detection kit developed by BioGerm was among the first batch to have obtained the Medical Device Registration Certificate on January 31, 2020, while Vazyme Biotech has developed a novel antibodies detection kit, both of which have played a crucial role in combating COVID-19.Further Growth Fueled by Development in International BusinessThe international business of the Company achieved numerous historical accomplishments and breakthroughs in 2019. The Company's issuance of GDRs as the first firm to be listed on the London Stock Exchange through the Shanghai-London Stock Connect raised USD1.69 billion in the overseas market; this was the largest IPO in the global depositary receipts market since 2013, and with the successful listing the Company also became a "A+H+G" financial institution listed in three markets. The Company's U.S.-based subsidiary AssetMark also successfully listed on the New York Stock Exchange, raising USD316 million to enhance its capital base and allow for long-term development of its distinctive financial service platform. In addition, Huatai Securities (USA) obtained a broker-dealer license in the U.S. to carry out broker-dealer business in the country, while Huatai Financial Holdings (Hong Kong) forged ahead against market adversity, to emerge as one of the leading Chinese-funded securities companies in Hong Kong. As of the end of the Reporting Period, the international business segment contributed to 12.48% of the Company's total revenue and other income.During the Reporting Period, Huatai Financial Holdings (Hong Kong) completed 14 IPO projects and 42 bond issuance projects, contributing to approximately HKD19.73 billion in underwriting amount. In addition, it completed 4 financial advisory projects and 6 structured investments and financing projects. In 2019, Huatai Financial Holdings (Hong Kong) obtained the UK cross-border Global Depositary Receipts conversion institution certification as well as membership to the London Stock Exchange.As one of the major financial institutions in China, the Company is dedicated to fulfill its social responsibility with its financial expertise. The Company improved its ESG (Environment, Social and Corporate Governance) management structure, provided financing services for technologically innovative and environment-friendly enterprises, and continued to promote the development of green finance; in 2019, the Company underwrote 31 green bonds with the total financing scale of RMB55.48 billion. Meanwhile, as a responsible corporate citizen actively engaged in promoting sustainability, the Company's corporate philanthropy project "Yixin Huatai", continued to improve the level of professional operations, and partnered with NGOs to carry out a series of projects that focus on protecting the Yangtze River source region ecosystem and supporting the distressed children both physically and mentally. Amid the crucial time of containing the spread of COVID-19, the Company was able to fully utilize its professional expertise to support industries and enterprises in key regions financially; with the advanced financial technology, the Company was able to provide more diversified online services for individual and institutional clients. Moreover, the Company actively integrated advanced resources within the healthcare and logistics ecosystems, to effectively and efficiently provide targeted support to the areas of Hubei Province most in need. Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
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VPower Group's 2019 net profit Increases by 33% to HK$283.6 Million
HONG KONG, Mar 31, 2020 - (ACN Newswire) - VPower Group International Holdings Limited ("VPower Group" or the "Group", stock code: 1608.HK), a leading DPG station owner and operator in Southeast Asia announced today its annual results for the year ended 31 December 2019. Despite the challenges in global business environment in 2019, the Group's business and operations were proven to be resilient and the Group managed to record a satisfactory revenue growth of 15.4% to HK$ 2,794.0 million. The gross profit grew by 4.3% to HK$737.2 million with a gross profit margin of 26.4%; while EBITDA rose by 37.3% to HK$853.2 million and net profit increased 33.0% to HK$ 283.6 million. Business ReviewAs for SI business, with 20 years of operational experience in SI business, the Group continued to strengthen its leadership in the global SI market and recorded revenue of HK$1,756.5 million (2018: HK$1,579.0) for the year ended 31 December 2019, representing a year-on-year growth of 11.2%. This was mainly attributable to sales to satisfy the increasing demand from power reserve market and rapid development of data centers and marine market. IBO segment recorded a revenue of HK$1,037.5 million for the year ended 31 December 2019 (2018: HK$ 841.7 million), representing a year-on-year growth of 23.3%. The increase was primarily contributed by revenue generated from the new projects in Myanmar and Sri Lanka. In 2019, the Group continued to expand its business presence in Myanmar and further consolidated its leadership as an independent power producer in Myanmar by commencing two new gas-fired distributed power stations with total installed capacity of 114.4MW. In mid-2019, the Group was awarded a public tender for a 20MW gas-fired power project (with planned installed capacity of 23.2MW). At the same time, the consortium comprising the Group's members and China National Technical Import & Export Corporation was awarded three power projects with an aggregate contract capacity of 900MW (with total planned installed capacity of 1,059.5MW). Accordingly, the Group is building the country's first LNG-to-power station. Seeing the growth in electricity demand and business opportunities in Sri Lanka, the Group has set foot in the market by successfully securing two diesel-fired power projects in the country through public tenders. The projects with a total installed capacity of 54.9MW commenced commercial operation in mid-2019.Furthermore, the Group secured a gas-fired power project in Indonesia with planned installed capacity of 18.7MW for a contract term of 15 years which is expected to commence operation in the second half of 2020. OutlookRegardless of the signs of economic recovery and ease of trade disputes towards the end of 2019, the start of year 2020 was unsettled by the outbreak of novel coronavirus (COVID-19) which has brought a damaging impact to all walks of life across different countries. Attributable to the Group's strategic business footprint in different countries and the flexible management system it built over the years, its operation remains stable and healthy albeit minor operational disruptions with new project development largely on track. The Group sees a strong demand for distributed power solutions in countries in Southeast Asia, Latin America and Europe. The Group expects the total installed capacity of its project portfolio (including the projects under joint venture) to reach around 1,900WW by the end of 2020 from currently 752.7MW. As a result, the Group is confident to achieve a strong growth in the years ahead.The Group will continue to focus on materializing the projects in pipeline in the short term, in particular, the newly awarded projects in Myanmar. It is expected the four new projects in Myanmar will commence commercial operation in the second quarter of 2020. In Sri Lanka, the Group announced in February 2020 that it secured new projects with planned installed capacity of 38.8MW. The projects are expected to commence commercial operation in the second quarter of 2020. Together with its existing 54.9MW operating projects, the Group's total installed capacity in the country will reach close to 100MW. For the projects in the United Kingdom (Doncaster Project) and Indonesia (Dumai Project), the Group expects them to commence commercial operation within this year.Mr Ambrose Lee, Chief Strategy Officer and Head of Capital Markets/Corporate Finance of VPower Group, remarked, "Backed by the market demand for distributed power solutions, our strong pipelines and solid business foundation, we are confident to maintain a strong growth in the years ahead despite the market uncertainties. We will also continue to strengthen our business development, optimize our operation and improve efficiency and cost management for corporate sustainability."In response to the recent outbreak of COVID-19, Mr. Rorce AU-YEUNG, Co-Chief Executive Officer of VPower Group added, "The outbreak of COVID-19 at the beginning of 2020 has become a threat to all countries around the world. By placing the health and safety of our staff and stakeholders as the top priority, we will closely monitor the development of the current global health emergency to ensure swift response and take all necessary prevention and controls. At all times, we are committed to creating the greatest value and sharing the accomplishment with our shareholders, and caring for the well-being of the environment."About VPower Group International Holdings LimitedHeadquartered in Hong Kong, VPower Group is an integrated expert in distributed power generation (DPG). It principally engages in power system integration (SI) business, covering designing, integrating and sale of gas-fired and diesel-fired engine-based gen-sets and power generation systems, and Investment, Building and Operating (IBO) business, involving investing in, building, leasing and operating distributed power stations to supply reliable electricity. It is one of the world's leading large gen-set system integration providers, and Southeast Asia's largest private gas-fired engine-based distributed power generation station owner and operator. Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
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Fosun Chartered Flight to Portugal, Over One Million pieces of Masks and Detection Kits arrive Lisbon
HONG KONG, March 31, 2020 /PRNewswire/ -- March 30, 4:30pm Beijing time (9:30am, Lisbon time, on March 30, 2020) - A chartered flight carrying over one million pieces of medical supplies weighing over 120,000 tons from Shanghai landed at Lisbon Airport. This batch of supplies includes 50,000 medical supplies and 20,000 nucleic acid detection kits donated by Shanghai Fosun Foundation and Fosun's member companies in Portugal, as well as one million KN95 masks purchased by Fosun member company, Luz Saúde. Among the 50,000 pieces of medical supplies donated by Fosun to Portuguese Central Government, there are 38,000 KN95 masks, 5,000 masks that are cleared for use in the "red zone" of hospitals, 3,000 plastic-strip protective suits that are permissible in the "red zone", 4,000 pieces of waterproof protective clothing, and 20,000 Fosun's self-developed novel coronavirus nucleic acid detection kits that comply with the EU standards. The detection kit can help the frontline to detect novel coronavirus (COVID-19) infection in a safe, swift and efficient manner. This batch of supplies is donated by Fosun and its member companies in Portugal, including Fidelidade, Luz Saúde, and Millennium BCP. A chartered flight carrying over one million pieces of medical supplies weighing over 120,000 tons from Shanghai landed at Lisbon Airport It is worth mentioning that the nucleic acid detection kit donated to the Portuguese Central Government has received emergency approval from China's National Medical Products Administration (NMPA) and the European Union CE certification, and has obtained the medical device registration certificate. This kit can realize the qualitative detection of the three genetic targets of ORF1ab, N, and E of the novel coronavirus by using a fast nucleic acid extraction instrument and extraction reagents. It can produce the results in 90 minutes, with the advantage of fully automatic operation, can greatly reduce the manual operation time of medical professionals, and improve the diagnosis efficiency. Currently, the nucleic acid detection kits are gradually exported to overseas countries including South Korea, Portugal, Hungary, Germany and Indonesia through donations or sales channels. Eurico Brilhante Dias, Secretary of State for Internationalization and Jamila Madeira, Deputy Minister for Health of the Portuguese Government accepted the donation of the materials as the representatives at the scene, and Jorge Magalhães Correia, Fosun's global partner, Chairman of Fidelidade, Isabel Vaz, CEO of Luz Saúde, Miguel Maya, CEO of Millennium BCP, and Xu Lingjiang, Fosun's Assistant President and Executive Director of the Overseas Healthcare Service Group, are present as the representatives of the donors. Jamila Madeira, Deputy Minister for Health of the Portuguese Government stated that, "Together with its portfolio companies in Portugal, Fosun's help is very important not only from the perspective of donations to the government, but also of the further shipment of medical goods to Portugal." Jorge Magalhães Correia, CEO and President of Fidelidade, Fosun's global partner said, "As a core member company of Fosun in Portugal, we maintain close communication and collaboration with the government and the health department. We are happy to work with Fosun to fight the epidemic in Portugal, and we hope that these supplies will help the medical staff in the frontline." An adapted Chinese ancient poem was printed the packaging box of medical supplies delivered to Portugal, "A small beautiful sea country, to which we give 10,000 miles of spring." The first half of this poetic couplet came from the poem entitled "Farewell" written by Chen Tao, a poet from the Tang Dynasty, in which the original couplet was: "A small beautiful sea country, where 10,000 strings of ice are hanging." The adapted poetic couplet is used to symbolize the care that China and Portugal have for each other in spite of the long distance between them. The second half of the couplet came from a poem entitled "An Ode to the Plum Blossom by Lu Kai." Lu Kai was a poet living in the Southern Dynasty and once sent a twig of plum blossoms together with a poem to his friend because he missed his friend dearly, including this couplet: "There is nothing in southern China, and I can only send you a twig of spring." The adapted poem changed "I can only send you a twig of spring" to "to which we give 10,000 miles of spring" in order to express the deep blessing for the people of Portugal. Corresponding to the Chinese poem, there is also a famous poetic line in Portuguese: "Tudo vale a pena. Se a alma não é pequena," written by Fernando Pessoa, a Portuguese author, which means "If the soul is not small, everything is worth it." In addition to this batch of medical supplies, Fosun joined hands with Shanghai Municipal Government's Foreign Affairs Office, Haitong Securities, Haitong Bank and Portuguese company, Gestifute, to donate another batch of supplies to the city of Porto, a friendly city of Shanghai, This batch of supplies, a total of 58,400 pieces of medical protective materials, have also taken a flight to Portugal and will donate to the local municipal government of Porto. Working together to overcome the difficulties and fight the epidemic together Fosun and Portugal have a long history of friendship. As a representative of Chinese private enterprises investing in Portugal, Fosun has acquired Fidelidade, Portugal's largest comprehensive insurance company, in 2014 and has successively extended its business to local banking, medical and other industries. Millennium BCP, the largest listed bank, and Luz Saúde, the largest private medical group, in Portugal are both member companies of Fosun. Fosun's investment in Portugal has brought economic vitality to the region and has become a strong promoter of Portugal's economic recovery, achieving mutually beneficial results for local businesses and communities. Shortly after the global epidemic outbreak, Guo Guangchang communicated with Portuguese Prime Minister Antonio Costa. Guo Guangchang expressed his concern about the outbreak in Portugal and expressed his intention to make donation to Portugal. The Portuguese Prime Minister thanked Guo Guangchang and Fosun Foundation for their support to the global fight against the epidemic and support to the Portuguese nation to fight the epidemic. Protection medical supplies and novel coronavirus nucleic acid detection kits are very important to a country especially during this critical period. He said "This is a great support to the Portuguese government and society, and also reflects the beautiful friendship and solidarity between the two countries in critical period." Guo Guangchang, Chairman of Fosun International, said, "As a global company, we hope that we can do our part to help the world win the fight against the novel coronavirus as soon as possible. Fosun has developed its footprint in Portugal for many years, and Portugal has also become my second hometown. At this time of the epidemic, Fosun has joined the local member companies to maintain close communication with the Portuguese central government to provide a full support for the local fight against the epidemic. I believe that the Portuguese people, with their hardworking and courageous spirit, will definitely overcome the difficulties and defeat the virus." On January 26, at the beginning of China's fight against the epidemic, 10,200 masks raised by Luz Saúde for China's fight against the epidemic arrived in Shanghai as the first batch of global medical supplies from Fosun's overseas platforms. One million KN95 masks arrived together with this batch of supplies were purchased by Luz Saúde through Fosun's global procurement network, which will be delivered to the local public hospitals in Portugal through the Portuguese Ministry of Health to provide strong protection for the local medical workers. As of March 29, Portugal has added 792 confirmed cases and a total of 5,962 confirmed cases. Portugal also declared a state of emergency with effect from the 19th. António Sales, the Secretary of State for Health of the Ministry of Health of the Portuguese Government said that the Portuguese health system will increase the number of medical masks and FFP2 masks by 2 million each this week. At present, the national health system and private medical institutions have a daily testing capacity of 2,500 and 1,500 cases respectively, and the testing capacity will continue to increase in the future. Since the outbreak of COVID-19, Fosun has acted first and donated supplies to the frontline for the epidemic prevention and control through the global procurement network covering 23 countries. As a global enterprise rooted in China, Fosun has always paid attention to the further upgrade of the global epidemic prevention and control. On March 1, Fosun officially started the second phase of its operations against the coronavirus by urgently deploying global resources to support the global fight against the epidemic. As of March 23, Fosun has deployed and donated a total of 11 batches of medical protection supplies to overseas key countries with rapid epidemic outbreak, such as Italy, Japan, South Korea, India, the UK and France. Photo - https://photos.prnasia.com/prnh/20200331/2764935-1?lang=0Related Links :http://www.fosun-international.com
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Blue Planet realises its end to end vision with Zigma, India's largest landfill mining company
SINGAPORE, March 31, 2020 /PRNewswire/ -- Blue Planet Environmental Solutions Pte Ltd (Blue Planet), Asia's leading sustainable waste management company, today announced a significant investment in Zigma Global Environ Solutions Pvt Ltd (Zigma), India's largest landfill mining company. Before and after images of a dumpsite reclamation project undertaken by Zigma in India to clear 15 acres of land from a 20-year-old dumpsite. Zigma specialises in landfill mining and full reclamation of land which is contaminated with legacy waste and suffers from environmental pollution and degradation. Founded in 2015, the company provides a sustainable solution involving multi-step segregation, treatment and recycling to clear landfills of deposited refuse. "By adding Zigma to our portfolio of solutions to treat organic, plastic and inert waste, we can now offer governments an integrated solution to tackle its problematic landfills. Apart from significantly improving resource recovery, our technologies can also drastically reduce or eliminate the negative impact of existing landfill sites," said Madhujeet Chimni, co-founder of Blue Planet. Globally, landfills are a substantial source of anthropogenic greenhouse gases that contribute to climate change. Governments, in Asia in particular, are developing enhanced waste handling measures to cut landfill disposal rates and combat the rising volume of waste generated. However, this alone will not be able to address the dangerous fugitive methane emitted from existing landfills. Chimni added: "Besides upcycling and recycling freshly generated waste, Blue Planet's vision is to offer the technological capabilities to clear vast areas containing mountains of waste. We have taken a significant step in realising our vision through this investment in Zigma, which can convert unsanitary dumpsites that are a threat to public health into land, which can be utilised for waste processing plants, parks and other productive uses". Turning legacy waste into an opportunity Open dumps are a major cause of social concern for local authorities as it is accompanied by underground water pollution, soil contamination and emission of flammable and toxic gasses. "In India, there are about 23,000 open dumpsites which emit harmful gasses and puts public health at risk. We saw the immediate need to develop a solution to clear legacy dumps, avoid continuous contamination of groundwater and air and remediate land for regional development," said Nagesh Prabhu, Director of Zigma. Zigma has cleared multiple open dumpsites since 2015 in India and aims to clear a total of 3 million tonnes of waste by 2021 and 10 million tonnes by the end of 2022. "Previously landfill capping was the only solution that existed but we saw potential in landfill mining to be a successful socio-economic business model and developed the required tools and systems, necessary for enhanced scalability and sustainability," added Prabhu. Zigma's process involves landfill mining, which starts with waste composition analysis and pre-stabilisation processes including deodorisation and leachate drainage from open dumpsites. The company leverages online monitoring system with real-time data processing, which is made available to all project owners to ensure high quality of operations. With Blue Planet's strategic investment in Zigma, waste processing can be augmented using Blue Planet technologies to extract and upcycle useable materials and resources. This includes technologies to convert inert waste into concrete blocks, plastic waste to fuel conversion, and decentralised organic waste to energy solutions – where Blue Planet has one of the largest installed bases in India. Zigma has completed multiple landfill mining projects in various states like Tamil Nadu, Gujarat, Uttar Pradesh and others and is currently undertaking 16 projects in various parts of the country. "As we expand and look at opportunities in ASEAN and the Middle East market, our partnership with Blue Planet takes us a step closer towards the overall vision of creating a cleaner world. We will do this by combining best practises in waste management with advanced technologies from around the world," added Ilangovan, CEO at Zigma. "Zigma's solution is aligned to our vision of creating circular economy solutions and brings us closer to creating an integrated sustainable waste management model," said Prashant Singh, co-founder/CEO of Blue Planet. Singh added: "With Blue Planet's experience in handling waste projects in Asia, we aim to help Zigma in expanding its footprint in the waste management sector around the region, and contribute to sustainable economies around Asia." Blue Planet recently announced a strategic investment of US$25 million made by Nomura, to further efforts to develop an integrated and inclusive waste management solutions for the region. Since October 2018, Blue Planet has completed a string of acquisitions which includes Rudra Environmental Solutions (India), Yasasu Environmental Management Services (India), Xeon Waste Managers LLP (India), Globecycle Holding Sdn Bhd (Malaysia), Virtus Concrete Solutions Ltd (UK) and Smart Creative Technologies Ltd (UK). About Blue Planet Environmental Solution Pte Ltd Blue Planet is a Singapore headquartered company driving regional sustainability through technology-driven and IP based end-to-end solutions for waste management and upcycling. Blue Planet has assembled a strong team of experts to lead its growth and has strategically acquired solutions which enable it to provide the collection, transportation, segregation, processing and treatment of waste. Blue Planet's key investors include the Neev Fund which is an infrastructure-focused private equity fund that was created as a partnership between State Bank of India (SBI) and the UK Government's Department for International Development (DFID) with a focus on achieving long-standing capital appreciation by promoting sustainable models of development to focus on low-income states in India. Website: www.blue-planet.com About Zigma Global Environ Solutions Pvt Ltd Zigma was founded in 2015 in India and headquartered at Erode, Tamil Nadu which pioneered integrated landfill mining. Since its pilot project in Kumbakonam, Tamil Nadu, Zigma has won several awards for innovation and best sustainable practices in waste management in India. In 2017, Zigma associated with Forcebel, a South Korean Landfill Mining major which was credited with successful reclamation of more than 100 dumpsites across the globe. Zigma today employs more than 600 personnel across its various plants and processes over 10,000 tonnes of waste per day. Website: www.zigma.in Photo - https://photos.prnasia.com/prnh/20200330/2763877-1?lang=0 Related Links :http://www.blue-planet.com
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BSOS, the Hidden Champion of Enterprise Blockchain, Now Backed Up by the National Development Fund to the Max
TAIPEI, March 31, 2020 /PRNewswire/ -- The Taiwan blockchain technology company - BSOS - announced on March 30th that it has closed on its angel funding round. They raised more than USD1 million, including USD666,000 from the National Development Council, making it the largest investment that the National Development Council has ever injected into the blockchain industry. BSOS, Taiwan hidden champion of Enterprise Blockchain, which is also the only official technical ambassador of J.P. Morgan Quorum in Taiwan. "Business Application" has been one of the main trends of international development in recent years. Tech giants, financial institutions or fintech startups are devoting a lot of resources to secure a foothold in this market. In the past, Taiwan has focused more on Cryptocurrency as opposed to Enterprise Blockchains. Daniel, CEO of BSOS, believes that the Business Angel Investment from the National Development Council is not only an endorsement from the Council for BSOS but also creates a positive ripple effect for Enterprise Blockchains. BSOS Blockchain Technology Endorsed by J.P. Morgan Quorum, led by J.P. Morgan, belongs to one of the main enterprise blockchains globally. Since its early years, BSOS has been working with J.P. Morgan to integrate technology as well as co-develop blockchain technology and applications. In May 2019, BSOS officially became the exclusive Quorum Ambassador in Taiwan. Daniel further stated that J.P. Morgan has always been a crucial and strategic partner to BSOS, saying that, ''We will cooperate on blockchain issues concerning 'privacy,' 'interoperability,' and micro service structure in 2020.'' Meanwhile, BSOS has acted as the bridge between local developers and international blockchain technology, hosting several blockchain tech meetups last year and committing to increasing efforts in related subjects. Stocking Up and Collaborating with Financial Giants BSOS now collaborates with Taipei Fubon Commercial Bank, Cathay Financial Holdings Company, Financial Information Service Company and other large financial institutions to apply blockchains in practical situations and drive a new type of business value. Blockchain is a single technology. Only by integrating it with current IT technology and putting its security, reliability, and scalability into consideration can the unique value of blockchain be translated into real business. This is what the current market lacks. Luckily, it's one of BSOS's core value. The BSOS CEO mentioned that, "We are grateful for large financial institutions like Taipei Fubon Commercial Bank, Cathay Financial Holdings Company, and Financial Information Service Company for their willingness to embrace startup companies with such open minds. BSOS has been able to gain considerable industrial experience through these collaborations." On the other hand, BFSI (banking, financial services and insurance) still remains the most intuitive application scenario for blockchains, accounting for 40% of blockchain projects worldwide. BSOS is especially positive towards applying blockchain to supply chain finance and will be launching related services and products in 2020. BSOS's core products and services can solve authentication problems on financial data while cutting costs, helping financial institutions conduct risk checks at all levels. Taiwanese Startups Have the Potential to Perform on the Global Stage Blockchain is revolutionary and the world, especially the financial sector, is falling head over heels. But during this time, companies must remain patient as they continue to hone their skills. "People often overestimate the development of blockchain today while underestimating the future value of it." Unlike Silicon Valley, Taiwan does not offer a robust environment for early-stage investments. Given such circumstances, BSOS was still able to successfully close on their angel funding round, raising over USD1 million. The National Development Fund is a substantial angel investor not only for BSOS but also for providing financial support to the capital market, clearing the financial path for Taiwan start-ups, and propelling unicorn companies based in Taiwan into the global blockchain wave. Marketing Manager: Andrew Yen Email: andrew@bsos.techMobile: +866-988-828-198 Photo - https://photos.prnasia.com/prnh/20200330/2763824-1?lang=0
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ANAPTYSBIO DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 in AnaptysBio, Inc. to Contact the Firm
NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in AnaptysBio, Inc. (“Anaptys” or the “Company”) (NASDAQ:ANAB) of the May 26, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you invested in AnaptysBio stock or options between October 10, 2017 and November 7, 2019 and would like to discuss your legal rights, click here: http://www.faruqilaw.com/ANAB. There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Anaptys common stock between October 10, 2017 and November 7, 2019 (the “Class Period”). The case, City of Hallandale Beach Police Officers et al v. Anaptysbio, Inc. et al., No. 3:20-cv-00565 was filed on March 25, 2020, and has been assigned to Judge Thomas J. Whelan. The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and misleading statements regarding the purported efficacy of etokimab, and by touting data from the Company's Phase 2a trial in peanut allergies as showing a "remarkable efficacy result" and describing the drug as having a "pretty profound efficacy" in its treatment of patients with atopic dermatitis based on AnaptysBio's Phase 2a trial data for that indication. Specifically, on March 26, 2018, after the markets closed, the Company issued a press release, which it also filed on Form 8-K with the SEC, announcing data from an interim analysis of a Phase 2a trial for etokimab in adult patients with peanut allergy. The press release reported that six of 13 patients (or 46%) improved their peanut tolerance to a cumulative 500mg at day 14 after a single dose of etokimab compared to zero of three patients (or 0%) dosed with placebo. Based on the “positive” data from the study, the Company announced its plans to continue development of etokimab in a multi-dose Phase 2b trial in moderate-to-severe baseline peanut allergy patients. Later that day, however, an analyst from RBC Capital Markets issued a report questioning the reliability of the Company’s Phase 2a peanut allergy data. The report stated that “[etokimab’s] response rate in an [intent-to-treat] population does not appear to be meaningfully differentiated” relative to the placebo. Specifically, the report explained that since AnaptysBio excluded two patients from each arm of the trial due to having mild symptoms, the difference between the etokimab-treated arm and the placebo arm was only approximately 7% on a 500mg tolerated cumulative dose intent-to-treat responder analysis basis—significantly less than the 46% response rate of etokimab-dosed patients over placebo-dosed patients the Company reported from its subgroup analysis. When considering the patients the Company excluded from its trial data analysis, seven of 15 patients (or 47%) improved their peanut tolerance to a cumulative 500mg at day 14 after a single dose of etokimab compared to two of five patients (or 40%) dosed with placebo. On this news, the Company's stock price fell from $113.83 per share on March 26, 2018 to $107.52 per share on March 27, 2018: a $5.31 or 5.54% drop. Then, on June 21, 2019, an analyst from Credit Suisse issued a report that questioned the veracity of the Company’s Phase 2a atopic dermatitis data because of patients’ use of topical corticosteroids as a rescue therapy during the study. On this news, the Company's stock price fell from $67.02 per share on June 20, 2019 to $59.24 per share on June 21, 2019: a $7.78 or 11.61% drop. Finally, on November 8, 2019, the Company announced “very disappoint[ing]” data from its ATLAS trial, a Phase 2b multi-dose study which evaluated the efficacy of etokimab in approximately 300 patients with moderate-to-severe atopic dermatitis. Specifically, AnaptysBio revealed that each of the etokimab dosing arms “failed to meet the primary endpoint of the trial, which was demonstration of statistically greater improvement in the Eczema Area and Severity Index (EASI) relative placebo at week 16.” The Company also revealed that, as a result of this data, it had postponed the initiation of its Phase 2b etokimab clinical trial in asthma. On this news, the Company's stock price fell from $36.16 per share on November 7, 2019 to $10.18 per share on November 8, 2019: a $25.98 or 71.72% drop. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding AnaptysBio’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. Contacts FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. rgonnello@faruqilaw.comTelephone: (877) 247-4292 or (212) 983-9330
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Linx Grows 21.8% in Net Revenues in the Fourth Quarter of 2019 Compared to the Same Period in 2018
Linx Digital and Linx Pay Hub offers have been mainly responsible for the constant increase in the company's results SÃO PAULO--(BUSINESS WIRE)--Linx, leader and specialist in technologies for retail, closed the fourth quarter of 2019 with gross operating revenues of BRL 256 million. The indicator is the result of the combination of subscription revenues and consulting service revenues. In the fourth quarter of 2019, total recurring revenue reached BRL 203 million, 11.3% higher than the same period in 2018 and equivalent to 79% of total gross revenues. The Company's net cash in 4Q19 was BRL 560.9 million. Excluding the amount linked to leasing from gross debt, resulting from IFRS16, and the net earn-out of accounts payable for acquisitions, Linx's adjusted net cash is BRL 735.1 million. Linx's net operating revenues was BRL 222 million, which represented an increase of 21.8% compared to the fourth quarter of 2018. Adjusted EBITDA reached BRL 53 million in the quarter, 16.5% higher compared to 4Q18 adjusted. The adjusted EBITDA margin in the period was 24.0%. Full year net income was BRL 39 million. “The cross selling of financial services (Linx Pay Hub) and Linx Digital, both natively integrated into our end-to-end platform, remains our main growth trend. In 4Q19, we signed new projects to integrate retailers' online and offline channels through OMS, totaling around 16 customers at different stages of implementation. In addition, the Linx Pay Hub offerings continue to grow, supported mainly by the adoption of TEF and the continuous expansion of our portfolio of differentiated solutions and natively integrated into the Linx platform. With a constant focus on business profitability, we also entered into strategic partnerships to integrate the wallets and further strengthen the QR Linx and the Digital Account,” explains Alberto Menache, Linx CEO. In 2020, the scenario tends to be more challenging. Due to the spread of the new Coronavirus (COVID-19) in Brazil and Latin America, we have put in place a plan covering several preventive measures necessary to minimize the effects of the pandemic, such as: creation of a Crisis Committee, implementation of home office for all Employees from March 16 and suspension or postponement of national and international business trips. In addition to looking at our internal public, we have also intensified initiatives and offers related to the digital transformation of retail, such as customized e-commerce solutions and delivery to restaurants (Delivery App), further supporting Brazilian retail at this time. Linx continues to operate normally and reaffirms its commitment to the safety of its Employees, ensuring service to Customers and Suppliers, and consequently, to the business. We will continue to invest in innovation and in valuing our team to bring people and technology even closer together through passionate shopping experiences around the world. About Linx Linx is a Brazilian company specialized in retail technology. Leader in the management software market, with 42.2% of retail market share, as IDC attests. All of Linx's shopping journey expertise is transformed into key insights to achieve what retailers expect most: build customer loyalty and achieve tangible, relevant results. Publicly traded at B3 since 2013, Linx also became the first Brazilian publicly traded software company at NYSE in 2019. The company has more than 3,500 employees distributed among its headquarters in São Paulo, 15 branches throughout Brazil. and 5 countries in America. To learn more, visit www.linx.com.br/imprensa. Contacts JeffreyGroup BrazilGuilherme Galvão | ggalvao@jeffreygroup.com+55 11 3185-0874 Natalia Binotto | nbinotto@jeffreygroup.com+55 11 3185-0814
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NORWEGIAN DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Norwegian Cruise Line Holdings Ltd. To Co
NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Norwegian Cruise Line Holdings Ltd. (“Norwegian” or the “Company”) (NYSE:NCLH) of the May 11, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you invested in Norwegian stock or options between February 20, 2020 and March 12, 2020 and would like to discuss your legal rights, click here: www.faruqilaw.com/NCLH. There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. The lawsuit has been filed in the U.S. District Court for the Southern District of Florida on behalf of all those who purchased Norwegian securities between February 20, 2020 and March 12, 2020 (the “Class Period”). The case, Douglas v. Norwegian Cruise Lines et al, No. 20-cv-21107 was filed on March 12, 2020, and has been assigned to Judge Robert N. Scola, Jr. The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company was employing sales tactics of providing customers with unproven and/or blatantly false statements about COVID-19 to entice customers to purchase cruises, thus endangering the lives of both their customers and crew members; and (2) as a result, Defendants’ statements regarding the Company’s business and operations were materially false and misleading and/or lacked a reasonable basis at all relevant times. Specifically, on March 12, 2020, the Washington Post published the article, “Norwegian Cruise Line managers urged salespeople to spread falsehoods about coronavirus.” The article revealed even more about Norwegian’s sales tactics from leaked internal memoranda including dangerous statements such as: “Focusing all of your attention is actually illogical, especially when we live in a world of daily threats and dangers anyhow,” the manager wrote under the headline “The coronavirus will not affect you.” “Fact: Coronavirus in humans is an overhyped pandemic scare.” The Washington Post article also disclosed Company executive’s reaction to the leaked memorandum, including: The whistleblower told The Post that company leaders are trying to find out who shared the emails. In one email sent Monday evening, after a Miami New Times journalist contacted the company, an executive wrote, “One of our own ratted.” On this news, Norwegian’s stock fell from a closing price of $15.03 per share on March 11, 2020 to $9.65 on March 12, 2020—a $5.38 or 35.80% drop. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Norwegian’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. Contacts FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. rgonnello@faruqilaw.comTelephone: (877) 247-4292 or (212) 983-9330
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Singapore-headquartered Telehealth Start-up Doctor Anywhere Closes US$27 Million Series B Financing Led by Square Peg, EDBI and IHH Healthcare
SINGAPORE, March 31, 2020 /PRNewswire/ -- Doctor Anywhere, a regional tech-led healthcare company headquartered in Singapore, announced today that it has secured a US$27 million Series B financing round led by Square Peg -- the largest venture capital fund in Australia, Singapore Government investment arm -- EDBI, and IHH Healthcare, a leading international healthcare provider. Rounding out this series of funding are Pavilion Capital and existing shareholder Kamet Capital, bringing Doctor Anywhere's total capital base to exceed US$40 million. This makes it one of the largest financing raised by a Singapore health-tech start-up in less than two years. The latest investment will boost Doctor Anywhere's market leadership position in the health-tech industry in Asia, as it prepares for extensive expansion to augment the region's healthcare landscape through digital transformation, with the support of strong local and regional partners. Lim Wai Mun, Founder and CEO, Doctor Anywhere, said: "I am thrilled to announce our partnership with this group of outstanding institutional investors, especially at a time when global healthcare challenges are top-of-mind in many countries." "Our mission is to make healthcare cost-effective and accessible for everyone, and I feel grateful that our partners share the same vision of transforming the traditionally conservative healthcare industry. With our partners' significant influence and astute industry insights, we are rapidly becoming the leading tech-led health and wellness platform in Asia." Doctor Anywhere also recently launched its platform in Thailand, in partnership with one of Thailand's most established private hospitals, and a global corporate insurance provider serving more than 95 million customers worldwide. Doctor Anywhere also operates in key cities of Vietnam, namely Hanoi and Ho Chi Minh City, with announcements on other regional plans in the pipeline due later this year. Tushar Roy, Partner, Square Peg, said: "It is a privilege to partner with Wai Mun and the Doctor Anywhere team. The provision of high-quality, affordable care delivered digitally, is important for the continued development of Southeast Asian economies. While high smartphone penetration and a fast-rising middle class provide an attractive market for the company, its solutions are also highly applicable to help bridge the urban and rural divide in healthcare access that exists throughout the region." Chu Swee Yeok, CEO and President, EDBI, said: "As one of the earliest digital health players in Singapore, Doctor Anywhere delivers the best of both virtual and in-person care, to bring choice, personalisation and improved healthcare outcomes to patients. As a homegrown company, Doctor Anywhere is actively supporting our nation's fight against COVID-19, by deploying its telemedicine platform at ferry terminal custom checkpoints and providing medical services to home-quarantined individuals. EDBI seeks to bolster Doctor Anywhere's journey as it continues to champion the adoption of telemedicine to bring healthcare accessibility and affordability to all patients in Southeast Asia." Dr Kelvin Loh, Managing Director and Chief Executive Officer of IHH Healthcare, said, "IHH is transforming healthcare to make it as convenient as possible for our patients. As part of this journey, IHH is very pleased to partner with Doctor Anywhere. Their end-to-end digital platform enables patients to schedule and receive virtual consultations with a doctor anytime, anywhere. Prescribed medications can also be delivered right to their home. The partnership is immediately synergistic in Singapore which is one of IHH's home markets." Danny Wong, Pavilion Capital, said: "We are pleased to support Doctor Anywhere. With a compelling vision and comprehensive platform capabilities, Doctor Anywhere is building the leading regional telehealth network to improve healthcare access in Southeast Asia." Kerry Goh, CEO and Co-Founder, Kamet Capital, said: "Since the beginning, Kamet Capital shared Doctor Anywhere's vision to make high quality healthcare accessible and cost-effective for everyone with the help of technology. We are pleased to continue our partnership to provide mentorship and business advice to Doctor Anywhere, in alignment with our commitment to creating and growing local champions - particularly in healthcare and technology." About Doctor Anywhere Doctor Anywhere is a regional tech-led healthcare company headquartered in Singapore. With a strong network of established healthcare providers and experienced doctors, Doctor Anywhere's digital platform enables users to manage their health easily and effectively through the Doctor Anywhere mobile app. Users can consult a licensed local doctor anytime, anywhere, and get medication delivered to their doorsteps within hours. Medical history, health reports, and other documents are stored in-app for easy access. Doctor Anywhere now serves more than one million, and growing, users on its online and offline platforms. Complementing this ecosystem is the DA Marketplace. Users can shop for a wide range of health and wellness products and services, such as nutritional supplements, skincare products, physical therapy sessions, and even book home-based healthcare services -- all in one place. For more information, please visit: https://doctoranywhere.com About Square Peg Square Peg is a venture capital firm on a mission to empower exceptional founders. It invests in technology companies across Australia, Israel and Southeast Asia at the Series A and B stage. Square Peg is investing out of its US$230 million 2018 fund and manages more than US$0.8 billion in capital commitments. About EDBI Investing since 1991, EDBI is a Singapore-based global investor in select high growth technology sectors ranging from Healthcare (HC), Information & Communication Technology (ICT), Emerging Technology (ET), and other strategic industries. As a value creating investor, EDBI assists companies in achieving their ambitious goals by leveraging our broad network, resources and expertise. With our growth capital, EDBI supports companies seeking to grow in Asia and globally through Singapore. About IHH Healthcare IHH Healthcare is a leading international healthcare provider in markets where the demand for quality care is strong and growing. We are one of the largest healthcare groups in the world by market capitalisation and are listed on the Main Market of Bursa Malaysia and the Main Board of SGX-ST. Employing more than 55,000 people and operating over 15,000 licensed beds across 77 hospitals in 10 countries worldwide, the Group offers the full spectrum of integrated healthcare services from clinics to hospitals to quaternary care and a wide range of ancillary services IHH is the leading player in its home markets of Malaysia, Singapore, Turkey and India, and key growth markets of Mainland China and Hong Kong. For more information, please visit www.ihhhealthcare.com. About Pavilion Capital Pavilion Capital is a Singapore-based investment firm that is focused on private equity investments in North Asia and Southeast Asia. About Kamet Capital Kamet Capital is a professional family office managing the private activities and investments of a small and growing group of billionaire families. We are in the inner circle of new-economy founders and entrepreneurs who entrust Kamet Capital to manage and advise the bulk of their private wealth. We help families plan and structure their private assets, provide in-house administrative support, invest globally, and progress on their philanthropic endeavours. Kamet Capital started in 2017 and is regulated as a Capital Markets License holder by the Monetary Authority of Singapore (MAS).Related Links :https://doctoranywhere.com
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Starlight Hybrid Global Real Assets Trust (NEO: SCHG.UN) Reports Annual 2019 Results
TORONTO--(BUSINESS WIRE)--Starlight Investments Capital LP (“Starlight Capital”), on behalf of Starlight Hybrid Global Real Assets Trust (the “Trust”), announced today the Trust’s audited financial results for the year ended December 31, 2019. 2019 HIGHLIGHTS Portfolio Investments As at December 31, 2019, the Trust had an investment of $32,617,601 in the Public Portfolio LP and $10,464,403 in two private investments and a commitment of $1,010,440 to the Starlight Canadian Residential Growth Fund. The Public Portfolio LP had 41 investments with a market value of $29,842,900 in publicly traded global real estate and infrastructure securities. Distributions The Trust targeted a $0.50 gross distributions per Unit per annum (5.0% yield based on the initial offering price per Unit) at the discretion of the Trustees, to be paid on a monthly basis. As at December 31, 2019, the Trust declared eleven distributions of $0.0416667 per Series A Unit and Series C Unit for a total distribution of $0.4583337 per Unit for each of Series A and Series C. The Trust also declared three distributions of $0.0416667 per Series F Unit for a total distribution of $0.125 per Series F Unit and one distribution of $0.0416667 per Series B Unit. On January 14, 2020, Starlight Capital announced the 2020 monthly distributions for the Trust. The Trust will pay a $0.52 gross distribution per Unit per annum. Unitholders of record will receive a monthly cash distribution of $0.0433 per Unit commencing in January 2020. Distributions Reinvestment Plan On March 25, 2019, the Trust announced a distribution reinvestment and optional cash purchase plan (the “DRIP Plan”). The DRIP Plan provides eligible Unitholders of Series A Units and Series C Units of the Trust an opportunity to acquire additional Series A Units at the greater of either the NAV per Series A Unit or 97% of the average market price (as such term is defined in the DRIP Plan). The DRIP Plan provides an efficient and cost-effective way for the Trust to issue additional equity to existing Unitholders. Unitholders may choose to make optional cash purchases of Series A Units under the DRIP Plan at any time in amounts equal to or greater than $1,000, but not to exceed $100,000 per annum. The aggregate number of Series A Units issued pursuant to optional cash payments, in any financial year, cannot exceed 2% of the issued and outstanding Series A Units as at the beginning of that financial year. Private Placement On July 5, 2019, the Trust closed a non-brokered private placement of Series C Units of the Trust for gross proceeds of $4,589,115 (the “July Private Placement”). Pursuant to the July Private Placement, the Trust issued an aggregate of 446,412 Series C Units at the offer price of $10.28 per unit which was the NAV per Series C Unit on the pricing date, May 31, 2019, plus costs. On December 17, 2019, the Trust closed a private placement offering (the “December Private Placement”), consisting of both a brokered private placement of Series B Units and Series F units of the Trust and a non-brokered private placement of Series C Units of the Trust for aggregate gross proceeds of $8,286,265. Pursuant to the December Private Placement, the Trust issued an aggregate of 35,650 Series B Units (of which 26,738 Series B Units were issued pursuant to the non-brokered private placement), 538,543 Series F Units, and 183,486 Series C Units at the offer price of $11.22, $10.93 and $10.90, respectively which was the NAV per Series C Unit on the respective pricing dates, plus costs. 2019 FINANCIAL AND OPERATIONAL HIGHLIGHTS As at December 31, 2019 As at December 31, 2018 Current assets $ 43,360,853 $ 28,312,178 Current liabilities 397,109 497,061 Net assets attributable to holders of redeemable units per series Series A 15,216,599 19,085,354 Series B 376,527 – Series C 21,682,443 7,370,787 Series F 5,688,175 1,358,976 $ 42,963,744 $ 27,815,117 ANALYSIS OF FINANCIAL PERFORMANCE The Trust’s financial performance and results of operations for the year ended December 31, 2019 and for the period from December 13, 2018 (date of formation) to December 31, 2018 are summarized below: Three months ended December 31, 2019 Year ended December 31, 2019 For the period from December 13, 2018 to December 31, 2018 Investment gain (loss) $1,217,575 $4,651,234 $(4,336) Expenses (199,443) (565,327) (58,176) Net Investment income (loss) 1,018,132 4,085,907 (62,512) Increase in net assets attributable to holders of redeemable units $1,018,132 $4,085,907 $(62,512) Financial Information The Trust’s audited annual financial statements, the notes thereto, and Management’s Discussion and Analysis for the three month and year ended December 31, 2019, can be found on Starlight Capital’s website at www.starlightcapital.com or www.sedar.com. Subsequent Events The recent spread of coronavirus disease (COVID-19) has caused volatility in the global financial markets, resulted in significant disruptions to global business activity and threatened a slowdown in the global economy. Such impacts could also cause substantial market volatility, exchange trading suspensions and closures, affect the investment portfolio’s performance and significantly reduce the value of an investment in Units. About Starlight Hybrid Global Real Assets Trust The Trust’s investment objective is to provide unitholders with stable monthly cash distributions and long-term capital appreciation through exposure to institutional quality real assets in the global real estate and global infrastructure sectors. About Starlight Capital and Starlight Investments Starlight Capital is an independent asset management firm offering mutual funds, exchange-traded funds and structured products. Our goal is to deliver superior risk adjusted returns to investors through a disciplined investment approach, Focused Business Investing. Starlight Capital is a wholly owned subsidiary of Starlight Investments. Starlight Investments is a privately held, full service, real estate investment and asset management company. The firm manages over $14.0 billion of assets on behalf of institutional joint ventures as well as publicly listed REITs, closed-end funds and investment funds and is driven by an experienced team of over 200 professionals. Please visit us at www.starlightcapital.com and connect with us on LinkedIn. Contacts Dennis MitchellChief Executive Officer & Chief Investment Officer 416-855-2642 dmitchell@starlightcapital.com Graeme LlewellynChief Financial Officer & Chief Operating Officer 1-416-855-2643 gllewellyn@starlightcapital.com
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Kingworld Medicines Seizes the Opportunity Foster the Diversified Development of Product Specifications
HONG KONG, Mar 31, 2020 - (ACN Newswire) - Kingworld Medicines Group Limited ("Kingworld Medicines" or the "Group", stock code: 01110.HK), a globally leading and well-known omni-channel enterprise with a complete supply chain in the greater healthcare products and services industry in China, has announced its unaudited annual results for the year ended 31 December 2019 (the "Year Under Review").For the Year Under Review, the global economic environment is complicated and aggravated the downward pressure on the Chinese economy. The Group continued to monitor changes in the domestic and foreign environment and optimise its product portfolio while continuing to develop down-market penetration in different channels and strengthening channel management to explore market niches and expand product coverage. For the Year Under Review, facing the financial volatility and uncertainty in China and abroad, the Group's total revenue slightly decreased by 9.4% to approximately RMB977,928,000, profit attributable to owners of the Company increased by 5.9% to approximately RMB43,427,000 and basic earnings per share increased by 6.1% to approximately RMB7.00 cents. For the Year Under Review, revenue from the pharmaceutical products segment amounted to approximately RMB633,700,000, accounting for 64.8% of the Group's total revenue. Revenue from the healthcare products segment was approximately RMB151,114,000, accounting for 15.5% of the Group's total revenue. Revenue from the medical devices segment amounted to approximately RMB193,114,000, accounting for 19.7% of the Group's total revenue.Mr. Zhao Li Sheng, Chairman of the Board of Kingworld Medicines, said, "During the Year Under Review, both the domestic and global economic environment are complex and challenging which have slowed down global economic growth. Social unrest in Hong Kong and subsequently the outbreak of coronavirus (COVID-19) epidemic caused more uncertainties in the overall economic development in China. Facing the uncertainty in the macroeconomic environment, the Group continues to provide customers with high-quality healthcare products, has seized market opportunities, and bolstered its competitive advantages to achieve steady development. In 2019, the Group geared up for further penetration of various product channels to widen the product coverage in third- and fourth-tier cities and rural villages, which can further expand the exploration to the market gaps.For the pharmaceutical products segment, the Group continued to undergo channel optimisation for the Nin Jiom product series. By leveraging its brand appeal and product reputation, Nin Jiom has expanded the market into lower-tier cities and enhanced terminal coverage for the products as well as the cooperation with regional pharmacy chains, so that more consumers can enjoy the benefits of Nin Jiom products. The Group actively coordinated with Nin Jiom and conducted various large-scale promotional events and new media brand promotion activities which aimed at cultivating younger consumer group as well as consolidating the loyalty of old customers and injecting a contemporary sense into the brand. During the Year Under Review, the China Pharmaceutical Enterprises Cooperation and Development Organisation Summit ("the CPEO Summit") announced that "Nin Jiom" ranked 18th in the "Brand. Value Ranking", with a brand value of RMB3.989 billion. In addition, the Group implemented orderly marketing activities and maintained a stable price for Taiko Seirogan from Japan, another core product of the Group's pharmaceutical segment. The Group through full-scale distribution and market perpetration and product display in key areas, as well as through different product deployment activities to expand its market coverage. As for branding promotion, the Group placed large billboard advertisements in high-traffic areas such as alongside busy roads in cities, trains and advertising campaigns at high-speed train stations. In addition, the Group also launched online e-commerce promotional events with various cooperative companies or e-commerce platforms, mainly including JD.com, Alibaba Health, and Dingdang Medicine Express, in order to facilitate integration of its online and offline channels.For the product series of medicated oils for external use, Kingworld Imada Red Flower Oil made breakthrough development in channel, terminal sales and brand promotion. Kingworld Medicines strived to strengthen the cooperation with downstream enterprises, so as to enlarge the market coverage of the product. As for terminal sales, the Group enlarged the deployment of products in terminal retail stores to increase market coverage. The Group also offered bundled-gift purchase activities for consumers during major festivals to improve terminal sales and boost brand influence. As for brand promotion, the Group proactively supported a variety of sports events and continued to offer product trial packs and offer massage service of Kingworld Imada Red Flower Oil to the residents in major communities. Through providing direct experience with its products to consumers, both the product recognition and purchase confidence were enhanced. For the Mentholatum series, the Group increased its market share through product deployment activities, concentrated display activities in prioritised major cities and staff training and customer education activities. And as for Hoe Hin White Flower Embrocation, the Group actively participated in marketing activities during shopping festivals on e-commerce platforms and offered gift-with- purchase activities for consumers during major festivals to improve terminal sales and brand influence. In terms of the Healthcare Products Segment, the sales volume of Lifeline Care maternal and infant fish oil nutrients product series from Norway, another star healthcare product of the Group has significantly increased. During the Year Under Review, the Group formulated comprehensive promotional strategies for Lifeline Care maternal and infant fish oil, which mainly included establishing strategic cooperation with cross-border e-commerce platforms and maternal and infant public accounts, so as to reach a wider group of target audience. The Group captured the trend of promotion platform by cooperating with key opinion leaders ("KOL") to raise hot topics on different promotion platforms like Xiaohongshu and Kaola.com. Meanwhile, the Group through recommendations from professional doctors, maternal and infant experts and celebrities, consumers' trust in our brand was greatly enhanced. Lifeline Care maternal and infant fish oil nutrient product series gained well-deserved reputation towards its brand and products. For the Culturelle Probiotics product series, the Group adjusted its marketing strategy accordingly and invested the core sales resources for the development of the product in the Hong Kong and Macao markets in 2019. In addition, the Group plans to launch collaborative project in probiotics with the Hong Kong University of Science and Technology ("HKUST"). HKUST's research and development capability with the Group's analysis and expertise regarding the future market trends. The cooperation aims to develop Chinese medicines with probiotics and anti-inflammatory properties in order to expand its product line and accommodate various demands of a broader spectrum of consumers.Kingworld Medicines actively carried out channels reform. In view of the uneven development of urbanisation in second- and third-tier cities, the Group proactively refined its target markets. For the Year Under Review, the Group proactively developed down-market penetration to different channels, strengthening channels management, exploring untapped market niches and expanding the product coverage to meet the consumption needs of domestic consumers while further improving channel marketing and customer loyalty. During the Year Under Review, the distribution network of the Group increased from 200,000 to 210,000 OTC retail pharmacies, which shows the channel optimisation efforts have achieved significant results.Looking ahead, the macroeconomic environment is more complex and volatile. The uncertainty of the Sino-US trade negotiations and the continuous initiation by the Chinese government of new policies related to the pharmaceutical industry make the industry's prospects more challenging. Facing changes in the business environment, market and consumption patterns as well as technology, Kingworld Medicines strives to seize opportunities presented by the favourable policies toward the vigorous development of the Chinese medicine industry in China. The Group actively engages in further cooperation with long-established traditional Chinese medicine manufacturers. The Group will utilise the scientific big data analysis of the Market Sales Traceability Management System (the "SMART System") to accommodate to the changes in consumers' needs and competitive landscape and set up comprehensive marketing plan and distribution for each product portfolio of the Group. In the future, the Group will continue to develop channels in lower-tier cities. Through the "SMART System" together with its upstream and downstream integrated supply chain and logistics, the Group will further enlarge its product coverage and reach in third- and fourth-tier cities and explore untapped markets, so as to increase market share and profitablity.Mr. Zhao concluded, "The domestic and global economic environment are complex and challenging in 2019. At the end of the year, affected by COVID-19 outbreak, the overall sentiment of the market is poor, and the Group also encountered opportunities and challenges amidst the turbulence. The Group will continue to adhere to its motto of "to serve the community and to heal the souls", and continuously source home healthcare products for consumers. The "Pu Ji Kang Gan Granules" can be applied to upper respiratory tract infections. The product is highly efficacious with limited side effects and can help to prevent and treat virus infections. In the future, the Group will enlarge its existing product categories, including anti-epidemic items for households, such as face masks, disinfection supplies, hygiene goods, and strive to counter the epidemic together with the nation. Looking forward to 2020, Kingworld Medicines will further build a sound foundation and enhance competitiveness of its core products in an orderly and effective manner. The Group also focuses on cost control as it strives to maintain its profits, continues to develop a sound system in financial risk management and maintains sufficient cash flow, so as to protect the return on investment of shareholders and other stakeholders. In the future, Kingworld Medicines will continue to introduce new products while optimising its product structure, expediting the implementation of negotiated projects and enriching its product portfolio, At the same time, the Group will expand its development in the greater health industry in order to develop the Company to become a domestic leading and world-renowned enterprise with a well-established upstream and downstream supply chain for the greater health products and service industry."About Kingworld Medicines Group LimitedKingworld Medicines Group is a globally leading and well-known omni-channel enterprise with a complete supply chain in the greater health products and services industry in China. It provides high-end logistics management service, B2C trading service and data service to major leading pharmaceutical and healthcare product suppliers, manufacturers and distributors, and is a pharmaceutical and healthcare product supply chain management service enterprise integrated with logistics, product and information flow. The Group's business in the greater health industry includes: (i) an agent and distributor of high-quality and well-known pharmaceutical products from overseas, including the star product series of Nin Jiom product series from Hong Kong and Taiko Seirogan from Japan; (ii) actively introducing high-quality and well-known healthcare products from overseas into the China market, such as the star product Culturelle probiotics product series from the United States, Lifeline Care maternal and infant fish oil nutrient product series from Norway, "Global Slimming" product series and medicated oils for external use; (iii) undertaking research and development, manufacturing and production of medical devices. In terms of total import value, Kingworld Medicines Group was among the Top 100 Import Enterprises of Pharmaceutical and Healthcare Product for six consecutive years from 2009 to 2014, and was named as one of the Top 5 Sales Enterprises of Chinese Patent Medicine in terms of sales in 2013. The Group also ranked among Shenzhen Top 500 Enterprises in 2018 and 2019 respectively, and continued to be recognized as a "Shenzhen Time-honoured Brand" in 2019. The Group manages a portfolio of over 60 kinds of medicines and healthcare products manufactured in Hong Kong, Japan, the United States, Australia, Europe, Canada, Singapore and Mainland China, and has a distribution network covered about 210,000 OTC retail pharmacies.For further information, please visit http://www.kingworld.com.cn/. Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
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Hi Sun Tech Announces 2019 Annual Results: Adjusted Net Profit Increases 32% to HK$713 million
HONG KONG, Mar 31, 2020 - (ACN Newswire) - A leading payment & finance solutions provider in China, Hi Sun Technology (China) Limited (the "Company"; Stock code: 818.HK), announced the audited consolidated results of the Company and its subsidiaries (the "Group") for the twelve months ended 31 December 2019 (the "Year").Results Highlights1. During the Year, the Group's payment processing solutions segment continued to maintain a steady and solid increase, with annual accumulative transaction volume exceeded RMB1,760 billion in 2019, and the total number of transactions increased by 129% as compared with last year, driven by the rapid growth of mobile QR code payment transactions.2. While pursuing performance growth, the Group adhered to compliance development and looked to the wider international market. During the Year, the Group have successfully brought in the strategic investment from EQT, which speeded up the overseas expansion strategy.3. The Group will continue to integrate advanced technologies into its services, export the digital empowerment advantage in data and scenarios, and solve the urgent digital transformation demands of medium, small, and micro companies.During the Year, the Group's consolidated revenue reached HK$5,576.0 million, representing an increase of 20% when compared with HK$4,662.0 million for the same period last year. The Group's operating profit was HK$578.2 million, representing an increase of 124% when compared with HK$258.5 million for the same period last year. Profit for the year was HK$683.0 million, representing an increase of 102% when compared with HK$337.3 million for the same period last year. The increase in profit was mainly contributed by the increase in segmental profit from the payment processing solutions segment, and the absence of share option expenses of approximately HK$195.3 million under the segment in 2018. Adjusted profit for the year was HK$713.3 million, representing an increase of 32% when compared with the same period last year. Basic earnings per share for profit attributable to the equity holders of the Company increased 105% to HK$0.205.Strengthening Technical Barriers, Helping Small and Micro Companies with Digital UpgradesDuring the Year, the Group's payment processing solutions business continued to grow steadily. The segmental turnover amounted to HK$4,672.6 million, representing an increase of 25% when compared with the same period last year; the segmental operating profit amounted to HK$696.5 million, representing an increase of 75% when compared with the same period last year. In 2019, VBill OPCO ("VBill"), a subsidiary of the Group primarily engaged in its payment processing business, has 3.5 million accumulated active domestic merchants with the cumulative transaction volume exceeded RMB1,760 billion for the Year. The total number of transactions increased 129% to 0.9 billion transactions, contributed mainly by the rapid growth of mobile QR code payment transactions.With offline-based payment scenarios becoming much more complicated, and payment needs becoming much more diverse, VBill has been focusing on offline-based scenarios, continuously innovating technologies and upgrading service models; integrating 5G, blockchain, artificial intelligence, and other advanced technologies in its services; and comprehensively helping small and micro companies with digital and intelligent transformation. The strategy has thus far achieved remarkable results despite fierce industry competition.Basing on Local and Prospecting Globally, Actively Pursuing Multidimensional Business DevelopmentThe repaid development of cross-border e-commerce has introduced wider development prospects for the cross-border payment industry. During the Year, the Group has obtained the Hong Kong Money Service Operation ("MSO") license that laid the foundation for cross-border payment business. Moreover, the Group has successfully brought in the strategic investment from EQT. EQT has distinct achievements in the aspects of finance and payment, the Group considered that the addition of EQT will speed up VBill's overseas strategy. In the future, the Group will explore the wider international market, and is committed to offering less costly, more efficient and diversified payment and fintech services to a wider user base.Facing a complex external environment and fierce market competition, the Group's other fundamental business segments made steady progress during the Year. During the Year, the performance of the Group's information security chips and solutions segment remained similar to last year. Research and development projects are progressing smoothly, and cost reduction initiatives of various products are rolling out in an orderly manner. In terms of platform operation solutions, the Group continued the provision of operational supporting services to three bases of China Mobile. As the biggest operational supporting partner of China Mobile Financial Technology Co., Ltd., the Group expected to strengthen its strategic cooperation in integrated payment, featured e-commerce, and fintech business with China Mobile, and to expand its business outside the communications industry. The Group's financial solutions segment also maintained a steady development, and established project developments and production were completed. The Group won the bid for the special project of constructing a new generation decentralized core business system for the Bank of Guizhou, also achieved business breakthrough in Southeast Asia market, and won the bids for special projects of constructing core business systems for one big state-owned bank in Laos and one newly-established bank in Malaysia. The performance of the Group's electronic power meters and solutions improved, and the Group managed to win more bids in the State Grid's unified tender during the Year.The Group commented, "In 2020, the sudden outbreak of CONVID-19 disrupted the orderly rhythm of many industries, and it is a heavy blow to traditional industries that rely heavily on offline operations. As the domestic epidemic prevention and control situation gradually improves, the work and production in various industries will resume. Many SMEs are beginning to realize their own shortcomings in daily operations, and hope to recover as soon as possible. The Group believes that the Internet is now penetrating into more offline scenes. After taking the "epidemic test", it will become an opportunity for small, medium, and micro enterprises to reflect, grow, and transform. Digital construction will become a new development direction. Through the application of cutting-edge technology such as cloud computing, big data, and blockchain, the Group will be committed to assisting the digital and intelligent transformation of small, medium, and micro enterprises, and contribute to the Internetization of traditional enterprises." Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
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Green Future Food Hydrocolloid Maintains Solid Business Foundation in 2019, amid Market Challenges
HONG KONG, Mar 31, 2020 - (ACN Newswire) - Green Future Food Hydrocolloid Marine Science Company Limited ("Green Future Food Hydrocolloid" or "The Group"; HKEX: 1084), a leading seaweed-based and plant-based hydrocolloid producer in China and global market, has announced its annual results for the year ended 31 December 2019 (the "Year"), the first annual results since the Group's listing in October 2019. During the Year, amidst the market challenges posed by the economic slowdown in China and the Sino-US trade fiction, the Group has maintained a stable performance, demonstrating its competitiveness and resilience as an industry leader.During the year under review, the Group's revenue amounted to HK$992.9 million (2018: HK$997.1 million), profit for the year was HK$93.9 million (2018: HK$93.8 million) and net profit margin slightly increased to 9.5%. The Board has resolved to propose the payment of a final cash dividend of HK5.0 cents per share for the Year.In 2019, due to the markets being still at a consolidation phase as the Group gave a huge boost to production capacity in 2018, and the slowdown of economic growth in China and Europe, the total sales revenue of carrageenan and agar-agar products, contributing to approximately 90% of the sales revenue of the Group, remained broadly flat.The Group has continued its strategy to gradually increase the proportion of overseas sales, as it achieved a remarkable increase in the revenue attributable to the Korean and Indonesian markets, resulting in an increase of 44.7% in revenue in the Asian markets (excluding China) for the Year. In 2019, the sales in China and the overseas accounted for 44.2% and 55.8% of its annual sales, respectively (2018: 47.7% and 52.3%).In the year under review, the Group succeeded in expanding the market for quick-dissolve agar-agar products for use in dairy products through strengthening its product research and development capability and marketing efforts, which drove the sales revenue of quick-dissolve agar-agar products to soar 253.7% in the Year, and making it one of the Group's products that offers highest gross profit margin. Moreover, the Group has expanded the use of its products in the application of pet foods, while the development of konjac gum was gaining momentum, and the markets for gel-type air fresheners and beauty products such as face masks were also further developed. The Group expects the diversity of end products and applications to be key areas for its future expansion.After the end of the reporting year, the outbreak of the Coronavirus Disease 2019 ("COVID-19") has impacted the Group's production, but the Group managed to meet sales and production needs as it had sufficient stock of raw materials and finished products. Currently, the Group's facilities have already resumed production, and the Group will closely monitor the situation and evaluate its impact on its financial position and operating results.Mr. CHAN Kam Chung, Executive Director, Chairman and Chief Executive Officer of Green Future Food Hydrocolloid, said, "We are prudently optimistic about the prospects in 2020. The business of manufacturing and technical development of all-natural performance materials nurtures strong ties with customers all along their value chain of product innovation. Further, as our hydrocolloid products are mainly used in the applications of foods and daily necessities, we expect the demand to remain stable with ample potential. Furthermore, we believe that with the continuous launch of new end products to the market, the prospect of hydrocolloid products is promising."About Green Future Food Hydrocolloid Marine Science Company LimitedGreen Future Food Hydrocolloid Marine Science Company Limited is a leading seaweed-based and plant-based hydrocolloid producer in China and global market. Its principal products include agar-agar, carrageenan and konjac products, and their respective blended products, all derived from natural sources like seaweed or other plants. Seaweed- and plant-based hydrocolloid products are commonly used in the food processing, consumer goods and cosmetic industries. In 2018, in terms of sales volume and value, the Group ranked first among all agar-agar producers in China and the world and placed second among carrageenan producers in China. Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
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PDFelement Honored with Top 20 Listing by Capterra for Contract Management Software
SHENZHEN, China--(BUSINESS WIRE)--#AdobeAcrobatAlternative--Wondershare PDFelement, the core office productivity software tool and PDF editor from Wondershare（SHE: 300624）, was honored with a mention in the Capterra Top 20 Contract Management Software applications list alongside industry behemoths like Adobe Sign and DocuSign. “We are humbled that our efforts have been validated and we hope we can contribute to the global workforce at this time of crisis when more and more companies are being forced to transition to remote work software so their employees can continue to work from the safety of their homes,” a company spokesperson said during a telephonic interview. In this situation, the lead product - PDFelement 7 Pro - allows businesses to effectively manage PDF and document workflows remotely in low and high-volume environments and includes the following features: Edit PDF - PDF editing tools to edit text, images, objects, links, and other PDF elements. Create PDF - Create PDFs from over 300 file formats. Convert PDF - Convert PDF files to numerous other formats like MS Office files, HTML, etc. Review and Comment - Full suite of annotation and markup tools for an enhanced collaborative environment. Cloud Storage and Retrieval - Cloud integration to fetch from and save documents to cloud storage services. Quick to Deploy - Easy organization-wide deployment across multiple locations and countries. Protect PDF - PDF security in the form of password encryption, permission restrictions, watermarking, redaction, and digital signing. PDF Forms - Comprehensive form management tools for creation, conversion, filling, data extraction, and import/export. Perform OCR - Advanced optical character recognition in 20 languages for converting scanned PDF documents into digitally editable content. According to a recent report by CNN, nearly every major tech company is either encouraging or mandating their employees to work from home rather than risk infection attempting to commute to work. Google, Facebook, Twitter, Microsoft, Amazon, and other big tech firms have all rolled out WFH (work from home) policies, and smaller businesses are following suit. Urging businesses to digitize their paper-based processes or switch to digital documentation, the PDFelement representative said: “Digital document workflows give you the freedom to work from anywhere and still collaborate effectively with team members in a different physical location. It is perfect for clerical tasks that would otherwise require the physical presence of the employee at the office. PDFelement can circumvent that by helping to digitize such workflows so they can easily be integrated with cloud services to support remote work protocols.” Contacts Media: Wondershare Technology Co., Ltd Name: Maggie Zhou Email: pdfelement@wondershare.comAddress: GuangDong, China Phone number: +86 755 86665000 Website: https://pdf.wondershare.com
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Air Canada flight attendant union responds to second set of layoffs due to COVID-19
VANCOUVER, British Columbia--(BUSINESS WIRE)--The union representing Air Canada flight attendants deeply regrets that hundreds of its members are among the layoffs announced today at the airline. “Our members have been through so much in the past few months as a result of COVID-19, and to see so many lose their jobs because of it is nothing short of heartbreaking,” said Wesley Lesosky, the President of the Air Canada Component of the Canadian Union of Public Employees (CUPE). “We will keep fighting for our members who continue to fly and making sure those who are facing layoffs get the support they need in the weeks and months ahead.” Today’s announcement brings the total number of flight attendant layoffs to 6,800 including those announced by the airline on March 19. The union continues to demand that the airline provide flight attendants with long-sleeve disposable gowns, fit-tested N95 masks, and fitted gloves during flights to prevent the spread of the COVID-19 virus. CUPE National President Mark Hancock has also sought and received assurances from Finance Minister Bill Morneau that federal support for the airline sector will prioritize workers. Contacts Hugh Pouliot Media relations, CUPE 613-818-0067 hpouliot@cupe.ca
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Trade Show, Conference and Event Updates as of March 30, 2020
LOS ANGELES--(BUSINESS WIRE)--#COVID19--The following are updates to trade shows, conferences and events impacted by the novel coronavirus (COVID-19) pandemic. April 5 - 9 April 9 IEEE World Forum on the Internet of Things 2020 IoT Day Slam 2020 Canceled Virtual event. https://wfiot2020.iot.ieee.org/ http://iotslam.com/ April 10 - 19 April 18 - 19 New York International Auto Show 2020 Los Angeles Times Festival of Books 2020 Moved to August 28 to Sept. 6, 2020 Moved to Oct. 3 - 4, 2020 https://www.autoshowny.com/ http://events.latimes.com/festivalofbooks/ April 18 - 22 April 19 - 23 2020 NAB Show COLLABORATE 20 Canceled. Will host virtual event, NAB Show Express, in April. Canceled. http://www.nabshow.com/ http://collaborate.oaug.org/ April 19 - 23 April 20 - 21 Game Developers Carnival Spring 2020 OGIS New York 2020 New virtual event. Canceled. https://www.gamedeveloperscarnival.com/ https://www.ipaa.org/events/ogis-new-york-2020/ April 20 - 23 April 20 - 23 Coverings 2020 Strata Data Conference London 2020 Canceled. Canceled. https://www.coverings.com/ https://conferences.oreilly.com/strata/strata-eu April 21 - 23 April 21 - 23 Bio-IT World 2020 IE expo 2020 Moved to Oct. 6 - 8, 2020. Postponed. New 2020 dates TBD. https://www.bio-itworldexpo.com/ http://www.ie-expo.com/ April 22 - 23 April 24 - 29 Smart Mobility Congress Asia 2020 AACR Annual Meeting 2020 Moved to June 23 - 24, 2020. Postponed. New 2020 date TBD. http://www.cdmc.org.cn/2020/smc/ http://www.aacr.org/ April 28 - 29 May 02 - 05 Red Hat Summit 2020 Digestive Disease Week 2020 Will be held as a virtual event. Canceled. https://www.redhat.com/en/summit http://www.ddw.org/home May 03 - 06 May 03 - 07 RIMS 2020 LightFair 2020 Canceled. Postponed. New 2020 date TBD. https://www.rims.org/annual-conferences/RIMS2020 https://www.lightfair.com/ May 04 - 07 May 07 - 08 Offshore Technology Conference 2020 HOW Design Live 2020 Postponed. New 2020 date TBD. Postponed. New 2020 date TBD. http://2020.otcnet.org/ https://www.howdesignlive.com/ May 11 - 12 May 11 - 12 BioEquity Europe 2020 QAD Explore 2020 Postponed. New 2020 date TBD. Canceled. https://www.biocentury.com/conferences/bioequity-europe-2020 http://explore.qad.com/ May 11 - 14 May 18 - 20 WorkHuman Live 2020 Phocuswright Europe 2020 Canceled. Moved to Aug. 4 - 6, 2020. https://www.workhumanlive.com/ https://www.phocuswrighteurope.com/ May 19 - 20 May 19 - 21 Licensing Expo 2020 Citrix Synergy 2020 Moved to Aug. 11 - 13, 2020. Will move to a virtual format in Fall 2020. http://www.licensingexpo.com/ https://www.citrixsynergy.com/ May 20 May 26 - 29 Virtual EA Connect Day 2020 Augmented World Expo 2020 New virtual event. Will be held as a virtual event. https://www.eaconnectdays.com/ http://www.augmentedworldexpo.com/ May 29 - 02 2020 ASCO Annual Meeting Will be held as a virtual event. http://am.asco.org/ About Business Wire Business Wire, a Berkshire Hathaway company, is the global leader in news release distribution and regulatory disclosure. Investor relations, public relations, public policy and marketing professionals rely on Business Wire for secure and accurate distribution of market-moving news and multimedia. Founded in 1961, Business Wire is a trusted source for news organizations, journalists, investment professionals, and regulatory authorities, delivering news directly into editorial systems and leading online news sources via its multi-patented NX Network. Business Wire has 18 newsrooms worldwide to meet the needs of communications professionals and news media. Learn more at www.businesswire.com. Follow us on Twitter @businesswire. Contacts Jim Liebenau Director, Trade Show & Event Services Business Wire +1.310.820.9473 jim.liebenau@businesswire.comwww.tradeshownews.com
