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FinTech trading platform TradeUP introduces Hong Kong stock trading
NEW YORK, March 30, 2020 /PRNewswire/ -- TradeUP, an online trading platform that offers commission-free trading of U.S. stocks and ETFs, introduced Hong Kong stock trading to its mobile platform today. The unique offering of Hong Kong stock trading gives U.S. investors a distinctive opportunity to access one of the most liquid markets in the world and expand their portfolios to include international stocks. With a history of high trading volumes, as well as a continued effort to list new companies and startups, the Stock Exchange of Hong Kong Limited (SEHK) attracts investors from all over the world who are interested in Asia's steady economic growth. SEHK topped global ranking for IPO markets in 2019 -- the seventh time in 11 years -- with several of 2019's biggest listings, including Alibaba and Budweiser APAC (2019 Final Results). In addition to having strong financial infrastructure and a reputation for high regulatory standard, one of the key attractions of the Hong Kong market is its location. Viewed as the financial gateway to China, SEHK is the listing destination for international firms who seek to expand into the Chinese and Asian markets. Many Chinese companies are listed on SEHK, making up a substantial proportion of the Exchange's market capitalization. "There are very few platforms in the U.S. that let users trade Hong Kong stocks. TradeUP aims to fill this gap by providing domestic investors the possibility to diversify their investments internationally, especially amid volatile equity prices back home," said Ryan Song, director of TradeUP. To facilitate a seamless user experience, TradeUP offers an all-in-one account, allowing users to trade U.S. stocks during the day and Hong Kong equities during the night without having to switch between accounts. There is no minimum balance requirement to open such an integrated account. Users benefit from one of most competitive commission fees in the market, as low as 0.08% of trade value (min HKD 18 per order). Moreover, the account may also be eligible for shorting, margin financing and day trades. Rooted in FinTech, TradeUP introduced its proprietary mobile trading app in Jan 2020, followed by a launch of its web-based trading platform two months later. TradeUP offers efficient data analysis and trade execution with a wide array of advanced tools and real-time access to streaming market information. The addition of Hong Kong stock trading echoes TradeUP's vision for the financial service industry to enhance users' abilities to invest around the clock and around the world with ease. "The ability to trade Hong Kong stocks presents opportunities for U.S. investors to integrate further with the global economy. TradeUP will continue our effort to drive product expansion and technological innovation so that users can enjoy the convenience of trading across multiple markets at lower costs," said Song. Brokerage services in TradeUP are offered by Marsco Investment Corporation. Download TradeUP in the Apple App Store or Google Play for free. For more information, please visit TradeUP's website: https://www.itradeup.com/ About Marsco Investment Corporation Marsco Investment Corporation is a registered brokerage firm at SEC (CRD:18483; SEC: 8-36754), a member of FINRA / SIPC and a member of DTC/NSCC, regulated by the US Securities and Exchange Commission and Financial Industry Regulatory Authority. Risk Disclosure: All investments involve risk, including possible loss of principal. Past performance of a security, market, or financial product does not guarantee future results. Electronic trading poses unique risk to investors. System response and access times may vary due to market conditions, system performance, and other factors. Market volatility, volume, and system availability may delay account access and trade executions. Commission to trade Hong Kong stock is 0.08% of trade value during promotion period, valid until 7/30/2020. The contents of this article shall not be considered a recommendation or solicitation for the purchase or sale of securities, futures or other investment products. View original content:http://www.prnewswire.com/news-releases/fintech-trading-platform-tradeup-introduces-hong-kong-stock-trading-301031194.html
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IMA(R) Launches New Data Analytics & Visualization Fundamentals Certificate(TM)
SINGAPORE, March 30, 2020 /PRNewswire/ -- IMA® (Institute of Management Accountants), the association of accountants and financial professionals in business, has announced a new IMA Data Analytics & Visualization Fundamentals Certificate™ course, as part of an ongoing campaign to integrate knowledge and expertise in data analytics into the core skillset of the management accountant. The course allows professionals and students to learn from industry experts who share their proficiency in and perspectives on emerging technologies, data analytics, and data visualization. Those who successfully complete the course will: Recognize the impact of technology and analytics on the accounting profession Demonstrate how data analytics can influence organizational strategy Identify ways data visualizations effectively enables appropriate business decisions "The foundational knowledge and tools this course provides are critical to finance professionals and will better equip them in an environment where technology continues to disrupt and transform entire industries," said Debbie Warner, CAE, CPLP, Vice President, Education and Career Services at IMA. The course's four modules will take learners from understanding the impact of technology and analytics on business processes to being able to apply skills in their careers. The modules include: Becoming Data Driven: Introduces the changes impacting the accounting and finance profession due to emerging technology Visualizing the Present and Predicting the Future: Discusses the various data visualization tools and the importance of choosing the right visualization based on one's audience Applying Data Analytics and Visualization: Provides video-based tutorials for performing the required analytics, and then learners are asked to apply these techniques to answer in-depth, scenario-based exercises on data analytics and data visualization Conclusion and Final Assessment: Reviews all lessons learned and culminates in a final assessment With the most important business decisions increasingly driven by data, IMA's Data Analytics & Visualization Fundamentals Certificate is a pathway to acquiring data analytics skills and demonstrating an in-demand competency to employers. IMA is offering this new certificate course to its members at no cost through April 30. To learn more about the course, please click here. About IMA® (Institute of Management Accountants)IMA®, named the 2017 and 2018 Professional Body of the Year by The Accountant/International Accounting Bulletin, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the U.S. CMA® (Certified Management Accountant) and CSCA® (Certified in Strategy and Competitive Analysis) programs, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 125,000 members in 150 countries and 300 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/India. For more information about IMA, please visit www.imanet.org. CONTACT: Sunantha Huang IMA Southeast Asia and Australasia (65) 6493 3113 Sunantha.huang@imanet.org Logo - https://photos.prnasia.com/prnh/20191017/2614087-1LOGO?lang=0Related Links :http://www.imanet.org
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JMU Limited to Hold Annual General Meeting on April 30, 2020
BEIJING, March 30, 2020 /PRNewswire/ -- JMU Limited (the "Company") (Nasdaq: MFH) today announced that it will hold its annual general meeting of shareholders at Room 536, 5th Floor, Building No.1, No. 35 Shangdi East Road, Haidian District, Beijing, People's Republic of China on April 30, 2020 at 10:00 a.m. (local time). The Board of Directors of the Company has fixed the close of business on March 31, 2020 (Eastern Standard Time) as the record date for determining the shareholders entitled to receive notice of the annual general meeting or any adjournment or postponement thereof. Holders of record of the Company's ordinary shares at the close of business on the record date will be entitled to attend, and to vote at, the annual general meeting and any adjournment or postponement thereof in person. Beneficial owners of the Company's ADSs are welcome to attend the annual general meeting in person but must act through Citibank, N.A., the depositary of the Company's ADS program, to exercise their voting rights for the underlying ordinary shares. In order to assist us in our preparation for the annual general meeting, please RSVP by email to ir@mercurity.com. The notice of the annual general meeting, which sets forth a resolution to be submitted to shareholder approval at the meeting, is available on the Investor Relations section of the Company's website at http://ir.ccjmu.com. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "estimate," "expect," "hope," "going forward," "intend, " "ought to, " "plan, " "project," "potential," "seek," "may," "might," "can," "could," "will," "would," "shall," "should," "is likely to" and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about the Company's beliefs and expectations are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. Contact:Xingyan GaoJMU Limitedir@ccjmu.comTel: +86 (021) 6015-1166, ext. 8904 View original content:http://www.prnewswire.com/news-releases/jmu-limited-to-hold-annual-general-meeting-on-april-30-2020-301031512.htmlRelated Links :http://ir.ccjmu.com/
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Ever-Glory Reports Fourth Quarter 2019 Financial Results
NANJING, China, March 30, 2020 /PRNewswire/ -- Ever-Glory International Group, Inc. (the "Company" or "Ever-Glory") (NASDAQ: EVK), a retailer of branded fashion apparel and a leading global apparel supply chain solution provider, reported its financial results today for the fourth quarter ended December 31, 2019. Mr. Yihua Kang, Chairman, President and Chief Executive Officer of Ever-Glory, said, "During the fourth quarter, we maintained our focus on developing the retail business through our multi-brand strategy and store network optimization initiative, while improving our wholesale business by upgrading customer portfolio and enhancing our account receivables." "During the full year of 2019, our retail brands continue to attract new customers and retain existing customers by focusing on design, quality and value," Mr. Kang continued. "Following the remodeling or relocation of 117 stores during 2019, we operated a nationwide network of 1,101 stores as of December 31, 2019." "Looking at our wholesale business, we maintained focus on upgrading customer portfolio to reduce credit risk and improve margin in light of weak micro-environment and enhancing our account receivables. Going forward, we'll implement a stricter client evaluation system and remain diligent in our account receivables collection. We believe the enduring strength of our wholesale business will support its long-term profitability." concluded Mr. Kang. Mr. Jason Jiansong Wang, Chief Financial Officer of Ever-Glory, added, "The fourth quarter results, are coupled with our ability to increase operating leverage. Going forward, we remain confident in the long-term prospects of our business and we will continue implementing our margin enhancement and cost control measures to further strengthen the profitability of our business." Full Year 2019 Financial Results Total sales for the full year of 2019 were $383.1 million, a 14.6% decrease from $448.5 million in the full year of 2018. This decrease was primarily due to a 10.7% decrease in wholesale sales and an 18.2% decrease in retail sales. Wholesale sales from the Company's wholesale business decreased by 10.7% to $195.2 million for the full year of 2019, compared with $218.6 million for the full year of 2018. This decrease was primarily attributable to decreased sales in Mainland China, United Kingdom, Hong Kong China, Germany and Europe-Other partially offset by increased sales in Japan and United States. Retail sales from the Company's branded fashion apparel retail division decreased by 18.2% to $187.9 million for the full year of 2019, compared with $229.9 million for the full year of 2018. This decrease was primarily due to a decrease in same store sales. Total gross profit for the full year of 2019 decreased by 19.4% to $118.8 million, compared with $147.4 million for the full year of 2018. Total gross margin for the full year of 2019 decreased to 31.0% from 32.9% for the full year of 2018. Gross profit for wholesale business decreased by 4.6% to $39.9 million for the full year of 2019, compared with $41.8 million for the full year of 2018. Gross margin for the full year of 2019 increased to 20.4% compared with 19.1% for the full year of 2018. Gross profit for retail business decreased by 25.2% to $78.9 million for the full year of 2019, compared with $105.6 million for the full year of 2018. Gross margin for the full year of 2019 decreased to 42.0% from 45.9% for the full year of 2018. Selling expenses for the full year of 2019 decreased by 12.3% to $80.2 million, or 20.9% of total sales, compared with $91.4 million, or 20.4% of total sales for the full year of 2018. The decrease was attributable to lower retail sales. General and administrative expenses for the full year of 2019 decreased by 11.8% to $35.1 million, or 9.2% of total sales, compared with $39.8 million, or 8.9% of total sales for the full year of 2018. The decrease in absolute amount was mainly attributable to the decline in number of stores. Income from operations for the full year of 2019 decreased by 76.5% to $3.5 million compared with $15.0 million for the full year of 2018. Net income attributable to the Company for the full year of 2019 decreased by 89.4% to $1.3 million compared with $12.0 million for the full year of 2018. Basic and diluted earnings per share were $0.09 and $0.81 for the full year of 2019 and 2018, respectively. Balance Sheet As of December 31, 2019, Ever-Glory had approximately $48.6 million of cash and cash equivalents, compared with approximately $47.0 million as of December 31, 2018. Ever-Glory had working capital of approximately $39.8 million as of December 31, 2019, and outstanding bank loans of approximately $29.9 million as of December 31, 2019. Conference Call The Company will hold a conference call at 8:00 a.m. Eastern Time on March 30, 2020 (8:00 p.m. Beijing Time on March 30, 2020). Listeners can access the conference call by dialing +1-800-289-0438 or + 1-323-794-2423 and using the access code 1073501. The conference call will also be webcast live over the Internet and can be accessed at the Company's website at http://www.everglorygroup.com. A replay of the conference call will be available from 11:00 a.m. Eastern Time on March 30 through 11:59 p.m. Eastern Time on April 6, by dialing +1-844-512-2921 or +1-412-317-6671 and using the access code 1073501. About Ever-Glory International Group, Inc. Based in Nanjing, China, Ever-Glory International Group, Inc. is a retailer of branded fashion apparel and a leading global apparel supply chain solution provider. Ever-Glory is the first Chinese apparel Company listed on the American Stock Exchange (now named as NYSE MKT) in July 2008 and then transferred to The NASDAQ Global Market on December 31, 2015. Ever-Glory offers apparel to woman in China under its own brands "La go go", "Velwin", "Sea To Sky" and "idole". Ever-Glory is also a leading global apparel supply chain solution provider with a focus on middle-to-high end casual wear, outerwear, and sportswear brands. Ever-Glory services a number of well-known brands and retail stores by providing a complete set of supply chain management services, including: fabric development and design, sampling, sourcing, quality control, manufacturing, logistics, customs clearance and distribution. Forward-Looking Statements Certain statements in this release and other written or oral statements made by or on behalf of Ever-Glory International Group, Inc. (the "Company") are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and the Company's future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including, without limitation, market acceptance of the Company's products and offerings, development and expansion of the Company's wholesale and retail operations, the Company's continued access to capital, currency exchange rate fluctuation and other risks and uncertainties. The actual results the Company achieves (including, without limitation, the results stemming from the future implementation of the Company's strategies and the revenue, net income and new retail store projections set forth herein) may differ materially from those contemplated by any forward-looking statements due to such risks and uncertainties (many of which are beyond the Company's control). These statements are based on management's current expectations and speak only as of the date of such statements. Readers should carefully review the risks and uncertainties described in the Company's latest Annual Report on Form 10-K and other documents that the Company files from time to time with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. For investor and media inquiries, please contact: Ever-Glory International Group Dandan SongTel: +86-25-5209-6817E-Mail: sdd@ever-glory.com.cn EVER-GLORY INTERNATIONAL GROUP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands of U.S. Dollars, except share and per share data or otherwise stated) AS OF DECEMBER 31, 2019 AND 2018 2019 2018 ASSETS CURRENT ASSETS Cash and cash equivalents $ 48,551 $ 47,012 Accounts receivable, net 78,053 86,527 Inventories 67,355 65,929 Value added tax receivable 2,495 2,580 Other receivables and prepaid expenses 7,497 10,204 Advances on inventory purchases 9,681 6,420 Amounts due from related parties 123 192 Total Current Assets 213,755 218,864 NONCURRENT ASSETS Intangible assets, net 4,729 4,962 Property and equipment, net 28,812 28,445 Operating lease right-of-use assets 53,379 - Deferred tax assets 996 - Total Non-Current Assets 87,916 33,407 TOTAL ASSETS $ 301,671 $ 252,271 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Bank loans $ 29,931 $ 29,497 Accounts payable 72,418 78,412 Accounts payable and other payables - related parties 4,811 4,756 Other payables and accrued liabilities 19,137 21,958 Value added and other taxes payable 1,657 2,569 Income tax payable 1,142 1,569 Current operating lease liabilities 44,888 - Total Current Liabilities 173,984 138,761 NONCURRENT LIABILITIES Deferred tax liabilities - 354 Non-current operating lease liabilities 8,537 - TOTAL LIABILITIES 182,521 139,115 NOTE 13 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY Stockholders' equity: Preferred stock ($0.001 par value, authorized 5,000,000 shares, no shares issued and outstanding) - - Common stock ($0.001 par value, authorized 50,000,000 shares, 14,801,770 and 14,798,198 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively) 15 15 Additional paid-in capital 3,640 3,627 Retained earnings 106,328 105,914 Statutory reserve 19,939 19,083 Accumulated other comprehensive loss (4,330) (3,578) Amounts due from related party (4,932) (10,354) Total equity attributable to stockholders of the Company 120,660 114,707 Noncontrolling interest (1,510) (1,551) Total Equity 119,150 113,156 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 301,671 $ 252,271 EVER-GLORY INTERNATIONAL GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (In thousands of U.S. Dollars, except share and per share data or otherwise stated) FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018 2019 2018 SALES $ 383,101 $ 448,508 COST OF SALES 264,330 301,153 GROSS PROFIT 118,771 147,355 OPERATING EXPENSES Selling expenses 80,180 91,439 General and administrative expenses 35,123 39,811 Marketing related intangible asset impairment - 1,086 Total operating expenses 115,303 132,336 INCOME FROM OPERATIONS 3,468 15,019 OTHER INCOME (EXPENSE) Interest income 1,003 1,375 Interest expense (1,222) (1,989) Other income 2,532 1,977 Total other income 2,313 1,363 INCOME BEFORE INCOME TAX EXPENSE 5,781 16,382 INCOME TAX EXPENSE (4,562) (4,942) NET INCOME 1,219 11,440 Net loss attributable to the non-controlling interest 51 568 NET INCOME ATTRIBUTABLE TO THE COMPANY $ 1,270 $ 12,008 NET INCOME $ 1,219 $ 11,440 Foreign currency translation loss (660) (6,084) COMPREHENSIVE INCOME $ 559 $ 5,356 Comprehensive loss attributable to the noncontrolling interest 41 489 COMPREHENSIVE INCOME ATTRIBUTABLE TO THE COMPANY $ 610 $ 5,845 EARNINGS PER SHARE ATTRIBUTABLE TO THE COMPANY'S STOCKHOLDERS: Basic and diluted $ 0.09 $ 0.81 Weighted average number of shares outstanding Basic and diluted 14,801,770 14,798,198 EVER-GLORY INTERNATIONAL GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EQUITY (In thousands of U.S. Dollars, except share and per share data or otherwise stated) FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018 Additional Retained Earnings Accumulated other Amountsdue from Totalequityattributableto stockholders Non- Common Stock paid-in Statutory Comprehensive related of the controlling Total Shares Amount capital Unrestricted reserve income party Company Interest equity Balance at January 1, 2018 14,795,992 $ 15 $ 3,620 $ 95,195 $ 17,794 $ 2,585 $ (15,449) $ 103,760 (1,062) $ 102,698 Stock issued for compensation 2,206 0.002 7 - - - - 7 7 Net income (loss) - - - 12,008 - - - 12,008 (568)
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CTBC Bank focuses on asset digitalization - Seeks breakthrough from traditional mode of banking through partnership with Aegis
The first blockchain fintech firm to use factoring digitalization in TaiwanHONG KONG, March 30, 2020 /PRNewswire/ -- Aegis Custody is announcing a partnership with CTBC Bank to expand its digital financial asset business, launching bundle factoring, REITs and equity investment in special asset digitalization to tap into channels for cash flow and support diversification of the banking sector. Aegis Custody, a blockchain fintech firm based in San Francisco, USA, sees strong prospects for digital financial asset development in Asia. The trust license granted to Aegis Custody in Hong Kong in 2019 is the first to be given to any fintech start-up in Asia. The factoring digitalization platform set up by the Aegis team features third-party trust mechanisms in the USA and Hong Kong, coupled with patented technology to achieve a single-chain-multiple-validation mechanism. This will help satisfy big institutions' need for business diversity and security. Furthermore, the digital asset digitalization designed by Aegis helps to break down assets by programing with blockchain technology to make it much simpler. This is beneficial for financial institutions, as it offers liquidity at a low cost. This is an innovative solution for traditional financial institutions that were unable to provide financing alone. CTBC Bank has proactively expanded in the area of blockchain-based financing. It was not only the first financial institution in Taiwan to join blockchain firm R3, but it also spared no effort in expanding into fintech, in light of the emphasis Taiwanese banks put on legal compliance and risk control. Hence, CTBC Bank is working with Aegis to expand its digital financial assets business and launching bundle factoring, REITs and equity investment in special asset digitalization to tap into channels for cash flow and support diversity in the banking industry. AEGIS seeks breakthrough in conventional banking in 2020 with fully-fledged launch of its asset digitalization platform in Asia Blockchain and digital asset management will be the irreversible course of development. For enterprises and financial institutions, innovative technology brings about change and may completely transform the mode of transactions and financing. In its quest for innovation in technology and business modelling, Aegis started with the know-how in digital asset custody to design an exclusive security chip. Aegis' blockchain technology has been certified by the Common Criteria (CC) for Information Technology Security Evaluation in the USA, with its digital asset custody technology at the highest security level of EAL5+ for the USA, Europe, and Japan. It is in the process of applying for trust licenses in Europe, Taiwan and Singapore. Aegis acts as a bridge between conventional banking and digital banking. Conventional banking is expected to shake off the yoke of its traditional practices in 2020 in favour of a fully-fledged localized asset security platform. In 2019, Aegis established a strategic joint-venture agreement with Finconn, a subsidiary of the Foxconn Group, to use blockchain technology in the digitalization of factoring. CTBC Bank said the Aegis digital asset digitalization platform allows investors who intend to factor with Foxconn to review each entry of related data in blockchain, effectively enhancing the liquidity and reducing the transaction cost in factoring with Foxconn. It is the first Taiwan firm to utilize blockchain in localized digitalization factoring. Founder and CEO Serra Wei of Aegis said: "A stable cash flow is essential for big enterprises. They will be able to access a stable cash flow after the digital digitalization of traditional assets. This is indeed the practical financial application of blockchain. The initial digitalization of assets is expected to amount to CNY20 million. This arrangement not only helps to enhance working capital allocation and financial planning, but also allows Aegis, a new breed of fintech firm, to showcase its strong performance. In 2020, Aegis is targeting CNY200 billion and aiming for other core enterprises in asset digitalization to create a new type of supply chain asset digitalization platform. With the use of a blockchain smart contract, the complicated asset transaction process will become simpler and more transparent, which could transcend regions, districts and systems for transactions." About Aegis Custody Company Limited Aegis Custody is a digital asset financial services company headquartered in San Francisco, CA, and is backed by global asset manager Fosun International Limited. It focuses on serving family offices, asset managers, exchanges, asset-backed token issuers, third-party trusts and financial institutions. Aegis Custody makes digital assets easy for institutions to invest in by providing a flexible institutional-grade digital asset custody solution. To provide the safest trust and financial services, Aegis developed its proprietary offering by utilizing a hybrid, distributed hardware-software storage solution with security controls, self-customized workflows, sequential approvals, multi-signature accounts and insurance, while satisfying their regulatory compliance needs. For more information, please visit www.aegiscustody.com.Related Links :https://www.aegiscustody.com/
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CITIC Capital Acquisition Corp. Announces the Separate Trading of its Class A Ordinary Shares and Warrants, Commencing on or about April 2, 2020
NEW YORK, March 30, 2020 /PRNewswire/ -- CITIC Capital Acquisition Corp. (NYSE: CCAC.U) ("CITIC" or the "Company") announced that holders of the units sold in the Company's initial public offering of 27,600,000 units completed on February 13, 2020 (the "offering") may elect to separately trade the Class A ordinary shares and warrants included in the units commencing on or about April 2, 2020. Any units not separated will continue to trade on The New York Stock Exchange under the symbol "CCAC.U", and each of the Class A ordinary shares and warrants will separately trade on The New York Stock Exchange under the symbols "CCAC" and "CCAC WS," respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the units into Class A ordinary shares and warrants. CITIC Capital Acquisition Corp. is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, the Company intends to search globally for companies in the energy efficiency, clean technology and sustainability sectors, with a focus on companies that the Company believes can be positioned for success in China, as well as other markets in Asia and beyond. A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on February 10, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from Credit Suisse Securities (USA) LLC at Attn: Prospectus Department, Eleven Madison Avenue, 3rd floor, New York, NY 10010, by telephone at (800) 221-1037 or by email at usa.prospectus@credit-suisse.com. FORWARD-LOOKING STATEMENTS This press release contains statements that constitute "forward-looking statements," including with respect to the Company's search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.Related Links :http://www.spacbyccac.com
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IG Group launches IG Prime to serve the needs of Institutional clients in the prime brokerage market
SINGAPORE, March 30, 2020 /PRNewswire/ -- Singapore's IG Asia Pte Ltd, part of IG Group Holdings plc, a FTSE 250 global leader in online trading, has today launched IG Prime for institutional clients to address the specific needs of start-up & multi-prime hedge funds and Family Offices. IG Prime will provide clients with prime brokerage execution and facilitation services which will be supported by an expanded international sales coverage network within IG Prime. "Institutional clients have been calling for a new challenger, for some time, to enter the prime-brokerage market and offer an innovative and competitive alternative to the incumbent providers," said Fouad Bajjali, CEO IG Prime & IG Bank SA. "IG Prime will deliver world-class prime brokerage execution for clients through cutting-edge technology combined with access to global markets." Founded in London in 1974, IG is a trusted global leader in online trading with over 15 years' experience of serving institutional clients. In 2006, IG launched prime brokerage services, delivering tailored solutions for hedge fund managers and family offices ever since. "IG has always taken pride in providing the best trading experience for our clients, the launch of IG Prime will enable us to better serve institutional clients based on their different trading needs with innovation and first-class technology," said Tony Lim, Head of Singapore. "Our advanced trading platforms are engineered for speed, stability and resilience, routinely processing multi-million trades per month and providing access to more than 40 global financial markets," said Simon Myers, Chief Technology Officer at IG. IG Prime has global resources across 16 countries providing clients with their own dedicated account management team covering business and technology processes. As part of IG's wider strategy of investing for growth, to deliver a more diversified and sustainable business, IG Group will continue to expand its products and services for clients over the next two years. "IG Prime will deliver efficiency for clients through its use of cutting-edge technology and product development. We can successfully compete because we will be cost effective, whilst still offering clients deep and sophisticated trading access with a personal touch," said Max Hayden, Global Head of Prime Brokerage Sales. "Hedge Fund clients are more focused on cost than ever as the industry has gone mainstream, but they still want the comfort of a secure well capitalised counterparty." IG Prime gives hedge fund managers and family offices access to the full spectrum of prime brokerage services across trading and financing solutions. The business combines web-based trading with real-time reporting and is supported by IG's strong global client support network. Notes to Editors About IG's Institutional Business IG's Institutional business is part of its Significant Opportunities business portfolio and targets the c.8000 hedge funds and family offices with less than $US200 million in assets under management. This market segment represents a potential market opportunity of around £500 million for IG. In IG's interim results on January 21st, its institutional business delivered a double-digit increase in institutional revenues. When an institutional client decides to trade through IG, the revenue opportunity is, on average, larger than for a professional client. As part of its May 2019 strategy announcement, IG set out to deliver the following targets, revenue growth in its core markets at around 3-5% per annum over the medium term; and to increase revenues from its Significant Opportunities business portfolio by £100 million, to around £160 million in FY22. About IG Brand IG empowers informed, decisive, adventurous, people to access opportunities in over 16,000 financial markets. With a strong focus on innovation and technology, the Group puts client needs at the heart of everything it does. IG's vision is to provide the world's best trading experience. Established in 1974 as the world's first financial derivatives firm, it continued leading the way by launching the world's first online and iPhone trading services. IG is an award-winning, multi-platform trading Group company which allows retail, professional and institutional clients to trade 24 hours a day, 7 days a week*. IG is the world's No.1 provider of CFDs** and a global leader in forex. It provides leveraged services with the option of limited-risk guarantees and also offers an execution-only stock trading service in the UK, Australia, Germany, France, Ireland, Austria and the Netherlands. IG Group Holdings plc is a member of the FTSE 250, with offices across Europe, including a Swiss bank, Africa, Asia-Pacific, the Middle East and North America. IG Group Holdings plc holds a long-term investment grade credit rating of BBB- with a stable outlook from Fitch Ratings. *Excluding 10pm Friday (GMT) to 4am Saturday (GMT)**Based on revenue excluding FX (from published financial statements, June 2019) Contacts IG GROUPJon Laycock+44 (0)207 573 0326press@ig.com IG Asia Pte LtdQian Ying Goh+6563908346prime@ig.com.sg Logo - https://photos.prnasia.com/prnh/20200330/2763644-1logo?lang=0
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Country Garden Releases Financial Results for 2019
- Positive Net Operating Cash Flow for Four Consecutive Years Backed by Steady Improvement in Sales Performance- Total Revenue reached US$68.5 billion, while net profit stood at US$8.6 billion- Gross profit, net profit and other core earnings indicators maintain double-digit growthFOSHAN, China, March 30, 2020 /PRNewswire/ -- On March 27, Country Garden Holdings Company Limited ("Country Garden") (02007.HK) released its financial results for the year ended December 31, 2019. Country Garden Releases Financial Results for 2019 Key highlights include: Steady improvement in sales performance In 2019, the Group (including joint ventures and associates) achieved contracted sales attributable to shareholders of RMB552.2 billion (US$77.8 billion), with contracted sales GFA attributable to shareholders totaling approximately 62.37 million sq. m. This represents a year-on-year increase of 10.03% and 15.16% respectively. Double-digit growth for core earnings indicators In 2019, the Group's total revenue rose by 28.2% YoY to RMB485.91 billion (US$68.5 billion). Gross profit increased by 23.6% YoY to approximately RMB126.64 billion (US$17.9 billion), while net profit increased by 26.1% YoY to approximately RMB61.2 billion (US$8.6 billion). Overall, the core net profit attributable to shareholders rose by 17.6% YoY to RMB40.12 billion (US$5.6 billion). Abundant operating capital As of 31 December 2019, the Group's available cash rose to a historic high of RMB268.35 billion (approx. US$37.8 billion). This marks the fourth consecutive year since 2016 that operating cash flow has remained positive. Balancing significant revenue growth with strict management of liabilities As of 31 December 2019, the Group's net gearing ratio stood at 46.3%, a year-on-year decrease of 3.3 percentage points and has remained lower than the redline of 70% for the 12th year in a row. The Group's unused bank credit lines totaled RMB316.79 billion (approx.US$44.7 billion). Delivering generous, stable dividends for shareholders An investment-grade blue-chip stock, Country Garden has maintained generous, stable dividends for many years in an effort to give back to shareholders for their ongoing support. The Group's basic earnings per share rose by 14.9% YoY to RMB1.85 (US$0.27) for the year of 2019. Meanwhile, the Board recommended payment of a final dividend of RMB34.25 cents (US$0.0048) per share, up 13.0% YoY. Total annual dividends reached RMB57.12 cents (US$0.08) per share, up by 17.0% YoY. Spearheading innovation in construction robotics and modern agriculture Parallel to developing its property business, the Group has focused on the research and development of robots since July 2018 with the Bright Dream Robotics project, in a bid to increase safety and efficiency in complementary industries such as construction and modern agriculture. To date, there are over 50 types of construction robots in the pipeline - 32 of which are already being tested at construction sites. With 327 patents under their belt, the team now hold proprietary core technologies in the key areas of application. Country Garden have also adopted cutting-edge technologies and equipment for modern agricultural production. In addition to using robot technology to build advanced, unmanned farms, the Group have linked its farms directly to community-based retail channels, reducing intermediaries across the supply chain and decreasing transaction costs for farmers and consumers. Combining urbanization initiatives with high-tech planning to deliver steady long-term growth Country Garden serves as an example of how an urbanization initiative can make a company more competitive, and its growth has only strengthened the Group's confidence in the future. Looking ahead, Country Garden will continue to explore intelligent manufacturing and robotics, develop modern agricultural production and cultivate community-based retail channels. In doing so, the management team will further enhance the Group's competitiveness, while maintaining the strategies that have served the company well and delivered consistent returns for shareholders. Photo - https://photos.prnasia.com/prnh/20200330/2763690-1?lang=0 Related Links :http://www.bgy.com.cn
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CSPC Pharmaceutical Announces 2019 Annual Results
Profit Attributable To Shareholders Increased 20.6% to RMB3,714 MillionInnovative Drug Business Continued to Deliver Strong GrowthNew Products Launched Helped to Sustain Growth HONG KONG, March 30, 2020 /PRNewswire/ -- CSPC Pharmaceutical Group Limited (HKEx: 01093) ("CSPC Pharmaceutical" or the "Group") is pleased to announce its annual results for the year ended 31 December 2019. For the current year, the Group recorded a revenue of RMB22,103 million, representing an increase of 24.8% year-on-year, and profit attributable to shareholders of RMB3,714 million, up 20.6% year-on-year. Basic earnings per share was RMB59.65 cents. During the year, the Group continued to expand the dedicated sales force and accelerate market expansion in major cities and hospitals. Through sales strategies including stepping up market penetration into county-level hospitals, rapidly establishing strong sales teams for new products, emphasising on the competitive edge from product differentiation and strengthening market expansion in different indications, innovative drug products managed to maintain a strong growth momentum and achieved sales of RMB12,975 million in 2019, representing a 48.4% growth. In particular, the sales of NBP increased by 35.8% and the sales of oncology drugs increased by 148.8%, becoming the dual engines of the Group's growth. In respect of common generic drug business, the Group continued with the strategy of enhancing sales mix by strengthening the promotion of non-antibiotic drugs and expanding the product line of oral formulation for chronic diseases. The Group also actively pushed forward the consistency evaluation for key products, with 17 drugs passing during the year (cumulative 23). During the year, common generic drug products achieved sales of RMB4,962 million, representing a 4.2% growth year-on-year. The strong R&D capability and rich pipeline of drugs under development enable the Group to have a continuous launch of new products. Most of the products newly launched in 2019 including Daxinning (dronedarone hydrochloride tablets), Shuanling (Pentoxifylline injection/tablets), Meiluolin (ticagrelor tablets), Gubangjia (alendronate sodium-vitamin D3 tablets), Gaoshunsong (acemetacin extended-release capsules), Qixiao (arbidol hydrochloride tablets), Luoruite (erlotinib hydrochloride tablets) and Enxi (pramipexole hydrochloride tablets) are exclusive or first-to-market products in China. With high clinical demands, these products are expected to become new growth drivers of the Group. The Group firmly believes in the importance of investing in research and development. The R&D expenses for the year amounted to RMB2,000 million, representing an increase of 49.1% and accounting for approximately 11.2% of the finished drug business revenue. At present, there are more than 300 projects in the pipeline, of which over 40 are innovative small molecule drugs, over 50 are innovative macromolecule drugs and over 20 are drugs of new preparation, primarily focusing on the therapeutic areas of oncology, autoimmunity, psychiatry and neurology, digestion and metabolism, cardio-cerebrovascular system and anti-infectives. During the year, 10 drugs were granted drug registration approval in China, while 27 drug candidates were pending drug registration approvals. As for international registration, 1 drug was granted U.S. NDA approval, 2 drugs granted U.S. ANDA approval and 6 drugs candidates are pending approval. 16 new drug candidates, including 7 innovative small molecule drug candidates, 5 innovative macromolecule drug candidates and 4 new preparations, were granted clinical trial approvals, of which 12 in China and 4 in the U.S. and Australia, further enriching the clinical pipeline of new drugs. At present, 42 products are under clinical trials, including 31 innovative drugs and 11 new preparations. Apart from in-house research and development, the Group has also been proactively seeking external cooperation and acquisition opportunities. During the year, the Group has entered into multiple products cooperation / license-in agreements, providing strong support for the future growth. About CSPC Pharmaceutical Group Limited CSPC Pharmaceutical Group Limited is a leading pharmaceutical group in China. The Company has been listed on the Main Board of the Hong Kong Stock Exchange since 1994 and has become a constituent stock of Hang Sang Index since June 2018. CSPC Pharmaceutical is a leading player of innovative and common generic drugs in China. Major products include "NBP", "Duomeisu", "Jinyouli" and "Keaili". It is also a major manufacturer of bulk drugs, principal products including vitamin C, caffeine and antibiotics. The production facilities of CSPC Pharmaceutical are mainly located in Shijiazhuang City, Hebei Province, China. For more information, please visit its website at http://www.cspc.com.hk. Logo - https://photos.prnasia.com/prnh/20200327/2762457-1LOGO?lang=0 Related Links :http://www.cspc.com.hk
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Dominguez urges more support and delegated authority for President Asakawa so ADB can respond swiftly to COVID-19 crisis
MANILA, Philippines, March 30, 2020 /PRNewswire/ -- Finance Secretary Carlos Dominguez III of Department of Finance, Republic of the Philippines has urged his fellow governors at the Asian Development Bank (ADB) to empower its President Mr. Masatsugu Asakawa with more discretion in undertaking measures to address the health emergency associated with the novel coronavirus (COVID-19) and any resulting economic fallout. In a letter to his fellow ADB governors, Dominguez said providing President Asakawa with some leeway, "within reasonable limits" in handling the institution's budget and approving crisis-related initiatives will go "a long way in ensuring that timely and decisive action is taken by the Bank in fighting the COVID-19 and the economic fallout that will follow." "Now more than ever, we, the Board of Governors of the ADB, should do our part to support the ADB Management in ensuring that its avowed functions are carried out with utmost efficiency and effectiveness. I therefore call on my fellow Governors to empower our trusted ADB President and the Bank's Management to work alongside the governments of developing member-economies in dealing with the crisis in a highly responsive manner," Dominguez said in his emailed letter sent to the other 67 governors of the Bank. A copy of the letter was also furnished President Asakawa. "Extraordinary times call for extraordinary measures. A certain degree of discretion ought to be provided to the President on administrative matters, such as allocating the Bank's budget and authority to approve crisis-related programs and projects, within reasonable limits," Dominguez added. Dominguez pointed out that the global health crisis spawned by the COVID-19 has compelled governments to rethink their priorities and "force a paradigm shift in the way they deal with global concerns". Amidst and after this crisis, Dominguez said the ADB needs to "stand taller" among the other development institutions. "This will require us, the Board of Governors of the ADB, to take bold action to realize that vision," he said. Radical steps are needed to defeat COVID-19, Dominguez said the ADB's array of decisive measures carried out since early February under President Asakawa proves that strong leadership translated into actions can "spell a difference in the lives of many". "Amongst international financial institutions, the ADB is at the forefront of decisive measures to help defeat COVID-19," Dominguez said. On top of providing a US$6.5 billion assistance package to its member-economies, along with grants and a private sector loan, the ADB also kept the public regularly informed with its timely economic analysis of the impact of COVID-19, and continues to dialogue with international organizations and development partners on crafting global solutions to the virus-induced crisis, Dominguez noted. "It is in these challenging times that we find the ADB Board of Directors and Management working closely, with swiftness and fierce determination, and leading with clear guidance and direction," he said. Dominguez thanked President Asakawa and the ADB Board, Management and Staff for "working tirelessly and responding swiftly to the needs of developing member-economies struggling with containing the spread of the virus". In the Philippines, Dominguez said the government is taking aggressive steps to ensure the safety of its people and mitigate the health, economic, and social impacts of COVID-19. "While the immediacy of addressing the health impacts of COVID-19 is upon us, the bigger challenge facing governments and leaders now is how we can collectively address the inevitable economic fallout that will result from this pandemic," Dominguez said. Logo - https://photos.prnasia.com/prnh/20200327/2762611-1LOGO?lang=0
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Hortiflorexpo IPM Shanghai 2021 will start booking in late March
SHANGHAI, March 30, 2020 /PRNewswire/ -- At the beginning of 2020, the outbreak of Coronavirus Disease 2019 has caught people off guard and disrupted everyone's life. Under this sudden difficulty, flower industry also suffers a serious loss among all industries. However, people don't finch but start mutual self-help actions to find ways surviving from the financial shock. For example, flower store runners find new direction of suppliers and markets by using e-commerce platform, help both flower growers and florists to get through the crisis with new trading methods. Meanwhile, fresh flowers were transported to hospitals where face the outbreak of Coronavirus, carrying the blessings and happiness. With the industrial enterprises gradually resuming, Chinese Customs in many places also took active measures to speed up the import and export inspection of plant seeds and seedlings. The relevant industrial parks cooperated with other parties to ensure that the prevention and control materials of the enterprises were in place, and under the premise of safety prevention and control, they promoted the resumption of production and jointly helped the flower industry to resume production capacity. Although many exhibitions have been cancelled in 2019, it is believed that we will get over the pandemic and difficulties it brought. The 23rd Hortiflorexpo IPM Shanghai will be launched from 15 to 17 April 2021 in Shanghai New International Expo Center (Hall W2-W5) as scheduled. As being Asia's prestigious exhibition among flower, horticulture and gardening industries, Hortiflorexpo IPM Shanghai has been through over 22 years' development. The show is organized by China Flower Association, managed by Shanghai Intex Exhibition Co Ltd and China Great Wall International Exhibition Co Ltd alternately in Shanghai and Beijing in each April or May. The 2019's Shanghai show has welcomed 52362 visitors on site, gathered with almost 900 exhibitors from 30 countries and regions from the globe. Hortiflorexpo IPM Shanghai 2021 will further subdivide the exhibition categories, enhance the on-site experience and interaction, combine all aspects of flowers, horticulture, gardening and life style, and provide both international and domestic business possibilities and trade cooperation for exhibitors. 2021 booth booking will start in the end of March 2020. For updating news about Hortiflorexpo IPM Shanghai, please subscribe official Wechat Account "hfexpo" or simply visit www.hfexpo.org. Shanghai Intex Exhibition Co., Ltd.www.hfexpo.orgContact: Xinyi Dong/Angela WanTel：+86-21-62957551/2075Email: dongxinyi@shanghai-intex.com / wanqi@shanghai-intex.comRelated Links :http://www.hfexpo.org
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St Kitts and Nevis Accepts Online Submissions for Citizenship by Investment
LONDON, March 30, 2020 /PRNewswire/ -- On 26 March, in light of the COVID-19 pandemic, the Federation of St Kitts and Nevis issued a Notice to Authorised Persons, Developers, International Marketing Agents, and other investor immigration industry stakeholders, announcing the implementation of a new process for the submission of applications to its Citizenship by Investment Unit (CIU). Effective immediately, the St Kitts and Nevis CIU will accept the submission of certain documents uploaded electronically to its online system, the Citizenship Application Management System (CAMS). The announcement comes as the effects of the deadly COVID-19 virus continue to be felt across the world, with other Caribbean citizenship by investment (CBI) units taking similar measures to close their physical offices in efforts to stem the spread of the virus. The temporary application submission process implemented in St Kitts and Nevis attempts to ensure that applications continue to be received and processed efficiently, despite the current climate. Mr Les Khan, CEO of the CIU, commented: "it is important to highlight that the temporary measures will not compromise the stringent due diligence procedures that applicants to the St Kitts and Nevis Citizenship by Investment Programme must undergo." In the 2019 edition of the prestigious CBI Index, published by the Financial Times' PWM magazine, St Kitts and Nevis received the maximum score for its performance of due diligence. St Kitts and Nevis' commitment to the high-level vetting of applicants remains as strong now as it was in 2019, and as such, the electronic documents submitted via CAMS will be provided to the CIU's external due diligence companies as per normal procedures. St Kitts and Nevis was the first citizenship by investment country to utilise a digital system through which to upload documents forming part of an application for citizenship by investment, having implemented CAMS in 2015. This is one of the ways in which St Kitts and Nevis has cemented its status as a thought leader in the citizenship by investment industry, proudly holding a reputation as the 'Platinum Standard' of CBI. Established in 1984, the St Kitts and Nevis Citizenship by Investment Programme is the oldest in the world and one of the industry's most successful. Offering an excellent solution for large families and with an optional Accelerated Application Process (AAP) feature, St Kitts and Nevis offers a second citizenship solution to highly-scrutinised, reputable individuals. Contact Details:pr@csglobalpartners.comwww.csglobalpartners.com Related Links :http://www.csglobalpartners.com
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Taiwan's First Digital Bank Implements Fully-Integrated Kamakura Risk Management Solution
SINGAPORE, March 30, 2020 /PRNewswire/ -- After doing a comprehensive vendor evaluation, Next Commercial Bank (NCB), Taiwan's first digital bank, has implemented Kamakura Corporation's suite of solutions to manage risk. The bank believes that a modular and integrated solution offers distinct advantages over disparate systems by saving costs and increasing transparency and efficiency. NCB is one of the first institutions in the digital banking space to augment its digital offerings with a robust and advanced technology enterprise risk management infrastructure platform. Dr. Matt Yu, Managing Consultant Mr. Kung-Ho Chang (Chief Risk Management Officer, NCB) said, "After extensive evaluation and due diligence, NCB felt that Kamakura's integrated ERM system was best suited to provide the holistic and dynamic perspective the bank needs to address of its regulations and requirements. The selection of Kamakura's suite of Credit Risk, Market Risk, FTP, ALM, IRRBB, Basel III LCR and NSFR solutions was based on the company's well-integrated and advanced solution, which encompasses balance sheet management as well as regulatory requirements." Dr Matt Yu, Kamakura's Managing Consultant of Professional Services for Asia-Pacific, said, "One key factor for choosing Kamakura as an integrated risk management system was that unlike other risk management solutions, it allows banks to use the same variables for stress testing scenarios and new business assumptions, generating holistic risk metrics. In addition, by subscribing to Kamakura Risk Information Service (KRIS), NCB has access to default probabilities for more than 40,500 corporate institutions in 76 countries and 180 sovereigns—information the company updates daily." Frances Cheng, Vice President and Director of Professional Services for Asia Pacific said, "The bank was also impressed by Kamakura's professional approach and the deep expertise of its international, regional, and local consulting staff. And Kamakura's platform, by performing one-time data extraction and reconciliation of the bank's exposure before generating the risk metrics, provides the bank a coherent approach to strategic analysis and reporting. The platform is based on common data architectures and is supported by strong governance of data hierarchy, traceability and lifecycle, yielding optimal business value for a digital bank." Kamakura's unique offering of a complete, advanced ERM solution is essential for banks to actively manage cash flow and accurately assess the margins of internal business units. It is user-friendly and flexible in its configuration, allowing users to configure simulations intuitively on a day-to-day basis. Dr. Clement Ooi, Kamakura's President, Asia-Pacific Operations said, "We are happy that NCB is now able to manage its risk by running simulations in multiple scenarios, integrated with a dynamic view of the rest of its balance sheet profile. The bank will be able to incorporate risk metrics into both its short-term and long-term planning strategies. Kamakura's KRIS credit information will help NCB to manage risks inherent in credit portfolios and to optimize credit investment decisions, complementing Kamakura's integrated balance sheet solution." Kamakura's portfolio management system includes data elements to capture the characteristics of all financial products, whether in a digital or a mainstream banking environment. By viewing its entire exposure within a single table and a single database, any bank can easily create reports, analyze results, and generate risk metrics. It provides everything a bank would want in a gaining a holistic and integrated risk management solution. About Kamakura Corporation Founded in 1990, Honolulu-based Kamakura Corporation is a leading provider of risk management information, processing, and software. Kamakura was recognized as a category leader in the Chartis Report, Technology Solutions for Credit Risk 2.0 2018. Kamakura was named to the World Finance 100 by the editor and readers of World Finance magazine in 2017, 2016 and 2012. In 2010, Kamakura was the only vendor to win two Credit Magazine innovation awards. Kamakura Risk Manager, first sold commercially in 1993 and now in version 10.0.5, is the first enterprise risk management system for users focused on credit risk, asset and liability management, market risk, stress testing, liquidity risk, counterparty credit risk, and capital allocation from a single software solution. The KRIS public firm default service was launched in 2002. The KRIS sovereign default service, the world's first, was launched in 2008, and the KRIS non-public firm default service was offered beginning in 2011. Kamakura added its U.S. Bank default probability service in 2014. Kamakura has served more than 330 clients with assets ranging in size from $1.5 billion to $3.0 trillion. Current clients have a combined "total assets" or "assets under management" in excess of $26 trillion. Its risk management products are currently used in 47 countries, including the United States, Canada, Germany, the Netherlands, France, Austria, Switzerland, the United Kingdom, Russia, Ukraine, South Africa, Australia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Singapore, Sri Lanka, Taiwan, Thailand, Vietnam, and many other countries in Asia, Europe and the Middle East. To follow risk commentary by Kamakura on a daily basis, please follow: Kamakura CEO, Dr. Donald van Deventer (www.twitter.com/dvandeventer)Kamakura President, Martin Zorn(www.twitter.com/riskmgrhi) Kamakura's official twitter account (www.twitter.com/KamakuraCo). About Bank Next Commercial BankNext Commercial Bank, led by Taiwan's Chunghwa Telecom, became the first financial services firm in Taiwan to be issued a digital banking license by the Taiwanese financial authorities in July 2019. Frances Cheng, Vice President and Director of Professional Services for Asia-Pacific Dr. Clement Ooi, Kamakura's President, Asia-Pacific Operations Photo - https://mma.prnewswire.com/media/1137850/Kamakura_Corp_Matt_Yu.jpg Photo - https://mma.prnewswire.com/media/1137851/Kamakura_Corp_Frances_Cheng.jpg Photo - https://mma.prnewswire.com/media/1137852/Kamakura_Corp_Clement_Ooi.jpg Logo - https://mma.prnewswire.com/media/657972/Kamakura_Logo.jpg Related Links :http://www.kamakuraco.com
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Hortiflorexpo IPM Shanghai 2021 will start booking in late March
SHANGHAI, March 30, 2020 /PRNewswire/ -- At the beginning of 2020, the outbreak of Coronavirus Disease 2019 has caught people off guard and disrupted everyone's life. Under this sudden difficulty, flower industry also suffers a serious loss among all industries. However, people don't finch but start mutual self-help actions to find ways surviving from the financial shock. For example, flower store runners find new direction of suppliers and markets by using e-commerce platform, help both flower growers and florists to get through the crisis with new trading methods. Meanwhile, fresh flowers were transported to hospitals where face the outbreak of Coronavirus, carrying the blessings and happiness. With the industrial enterprises gradually resuming, Chinese Customs in many places also took active measures to speed up the import and export inspection of plant seeds and seedlings. The relevant industrial parks cooperated with other parties to ensure that the prevention and control materials of the enterprises were in place, and under the premise of safety prevention and control, they promoted the resumption of production and jointly helped the flower industry to resume production capacity. Although many exhibitions have been cancelled in 2019, it is believed that we will get over the pandemic and difficulties it brought. The 23rd Hortiflorexpo IPM Shanghai will be launched from 15 to 17 April 2021 in Shanghai New International Expo Center (Hall W2-W5) as scheduled. As being Asia's prestigious exhibition among flower, horticulture and gardening industries, Hortiflorexpo IPM Shanghai has been through over 22 years' development. The show is organized by China Flower Association, managed by Shanghai Intex Exhibition Co Ltd and China Great Wall International Exhibition Co Ltd alternately in Shanghai and Beijing in each April or May. The 2019's Shanghai show has welcomed 52362 visitors on site, gathered with almost 900 exhibitors from 30 countries and regions from the globe. Hortiflorexpo IPM Shanghai 2021 will further subdivide the exhibition categories, enhance the on-site experience and interaction, combine all aspects of flowers, horticulture, gardening and life style, and provide both international and domestic business possibilities and trade cooperation for exhibitors. 2021 booth booking will start in the end of March 2020. For updating news about Hortiflorexpo IPM Shanghai, please subscribe official Wechat Account "hfexpo" or simply visit www.hfexpo.org. Shanghai Intex Exhibition Co., Ltd.www.hfexpo.orgContact: Xinyi Dong/Angela WanTel：+86-21-62957551/2075Email: dongxinyi@shanghai-intex.com / wanqi@shanghai-intex.com
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Suncity Group Holdings Limited Announces 2019 Unaudited Annual Results Update; HOIANA Phase 1 to Open in 2021, Preview in Summer 2020
HOIANA PHASE 1 TO OPEN IN 2021, PREVIEW IN SUMMER 2020ENTERED PHILIPPINES MARKET TO CO-DEVELOP WESTSIDE CITY PROJECTSUNCITY WELL POSITIONED TO BECOME A LEADING IR OPERATOR HONG KONG, March 29, 2020 /PRNewswire/ -- Suncity Group Holdings Limited ("Suncity", the "Group" or "Company") (Hong Kong Stock Exchange code: 1383) reported selected unaudited financial data for the year ended 31 December 2019. All amounts are expressed in RMB unless otherwise stated. 2019 UNAUDITED ANNUAL RESULTS HIGHLIGHTS Suncity 2019 Review: 2019 was a Year of Expansion across Asia Progressed construction works in HOIANA, a premier integrated resort destination in Vietnam Acquired 51% of Suntrust Home Developers (PSE: SUN); Entered the Philippines gaming market to co-develop Westside City project in Entertainment City, Manila Became the single largest shareholder of Summit Ascent (HKEx: 102), the listed company of the largest integrated resort in Russia, known as Tigre de Cristal, based in Vladivostok, Russia Purchased a scenic piece of land in Okinawa, Japan; Signed MOU with Paradise Co. for potential cooperation in Busan, South Korea Development Updates: Solid Integrated Resort Development Pipelines across Asia despite Short-Term Coronavirus Disruptions Vietnam: Unveiling HOIANA for the first time ever in an exclusive preview in summer 2020; Official opening of HOIANA now scheduled in 2021 due to coronavirus disruptions Russia: Moving forward with the renovation works in Phase 1 Tigre de Cristal which includes a Suncity branded VIP room, ready by summer 2020 Philippines: Piling works in Westside City project ongoing, continuing architectural design work with ground-breaking ceremony to be held soon Other international locations: Actively exploring other overseas markets globally including Japan and South Korea etc. Group & Segmental Results: Awaiting Transformation to Focus on Travel & Integrated Resort Businesses in the Future The integrated resort projects Suncity invested in or under its management (except for Tigre de Cristal) were under development in 2019 and have not contributed operational results to the Group yet 2019 Total Revenue of RMB611.8 million, down 22.8% YoY. Group Gross Profit of RMB99.9 million, down 57.8% YoY Loss attributable to Owners of the Company was RMB1.48 billion, of which a loss RMB521.7 million for the change in fair value of the financial instruments of the convertible bonds was included, primarily due to the Group's share price increased from HK$1.23 to HK$1.59 in 2019 Travel Related Product & Travel Agency Services Segment: Full Year Revenue of RMB525.5 million, down 3.2% YoY Hotel & Integrated Resort General Consultancy Segment: Full Year Revenue of RMB14.5 million, down 27.0% YoY Balance Sheet: Strong Support from the Main Shareholder Bank balances and cash, pledged bank deposits and restricted bank deposits of RMB289 million as at 31 December 2019 Main Shareholder Mr. Chau Cheok Wa fully supports the Group by offering shareholder's loan at 3.5% interest rate. As at 31 December 2019, the aggregate of unconditional loan facilities amounted to HK$3.6 billion, of which approximately HK$1.4 billion have been drawn down with the remaining of approximately HK$2.2 billion being unutilised A Letter from Mr. Chau Cheok Wa, Chairman Dear fellow shareholders, The coronavirus pandemic brought the world into an uncharted territory, where lots of businesses were disrupted. I am aware of the persistent impacts that the pandemic brought to the global economy - Markets have been extremely volatile as a result of the virus, consumer confidence dwindles, visas temporarily stopped and quarantine measures were put in place across borders. To me, the health and safety of our staff and our guests are of utmost importance. I am also proud of the containment measures by the Central Government and the Macau SAR Government. Together they have set exemplary examples of virus containment measures for the rest of the world. I am also proud of my team who has worked tirelessly together amid times of uncertainty. I am confident that the pandemic will pass, just as every storm eventually runs out of rain, and every dark night eventually turns into day. Nevertheless, the year of 2019 was a remarkable year of development in Suncity's corporate history. Among other things, we officially entered the Philippines integrated resort market to co-develop Westside City Project in Manila; we became the single largest shareholder of the listed company of the largest integrated resort in Russia; we purchased a scenic piece of land in Okinawa Japan to build villas and hotel rooms; and most important of all, we continued to progress on the final construction works of our flagship integrated resort, the HOIANA, in Vietnam. We are working hard to ensure that HOIANA will be ready to welcome our firsts guests in the preview in summer. All of these set the stage for 2020 and beyond to become transformative years ahead for Suncity. I would also like to take this opportunity to update my fellow shareholders that the highly-anticipated grand opening of HOIANA is now scheduled to happen in 2021, with an exclusive preview of HOIANA in summer 2020 as a consequence of the uncertainties brought by coronavirus. Suncity's investment in Vietnam is intended to stay for a very long time. Now, there may be flight and visa disruptions to Vietnam; however, our long-term confidence towards the Vietnam market remain positive, as seen as Vietnam's extraordinary growth prior to the pandemic. With Suncity extensive platform and expertise, I am confident that we will transform HOIANA into a benchmark for excellence in South East Asia. In summer 2020, we will unveil HOIANA Phase 1 for the first time ever in an exclusive preview, with the grand opening now scheduled in 2021. HOIANA will feature an integrated resort with a casino that holds live table games, electronic gaming machines, Asian delights & other international cuisine with more than 1,000 hotel rooms. HOIANA will offer guests authentic Vietnamese experience embellished with sun, sea and sand. This is a very exciting time for myself to witness my vision for Suncity to sprout from ground zero into a truly integrated resort - a metamorphosis for Suncity. This year, we will also be completing the upgrade works of Tigre de Cristal Phase 1 in Vladivostok, Russia, where a Suncity branded VIP room will be introduced in the Russia Federation for the first time ever. I am also thrilled to be conducting the ground-breaking ceremony of the Westside City Project in Manila soon, marking a new chapter for Suncity's presence in Asia. With a few years down the line, I envision Suncity's integrated resort portfolio to be extended all over the key Asian jurisdictions, rivalling peers ahead of us today. Finally, I would like to extend my gratitude to all government officials and medical staff for combating the virus around the world. I would also like to thank our valuable team members for their hard work striving to create strides in this challenging yet exciting times; and, for their patience to grow together with the company. I hope you are as excited as I am to embrace 2020. Mr Chau Cheok WaChairmanSuncity Group Holdings Limited Market Overview In 2019, the key gaming jurisdictions Suncity has invested in delivered solid growth. GDP in Vietnam grew 6.5% year-on-year to USD261.6 billion[1] in 2019. Total investment reached 26.3% of Vietnam's GDP. Vietnam has delivered extraordinary visitation growth in 2019, total international arrivals increased by 16.2% year-on-year to 18 million visitors[2]. In particular, the area of Danang and Hoi An served as a hub for international tourism as quality tourism products such as five-star hotel rooms, long pristine beaches, UNESCO World Heritage sites and newly built tourist attractions, are now made available. In the Philippines, GDP grew 5.7% year-on-year to USD356.8 billion[1] in 2019. Gross Gaming Revenue (GGR) for casinos in the Philippines grew 15.4% year-on-year to PHP216.4 billion (USD4.3 billion) in 2019, making the Philippines one of the best performing gaming jurisdictions in Asia. In Vladivostok, Russia, Tigre de Cristal continues to be the only operating integrated resort in the Primorye IEZ region in 2019. Chinese visitation entering the Russia Federation increased by 16.9% year-on-year in the first six months of 2019[3]. Gross gaming revenue in the Primorye region in Russia increased 0.09% to USD103 million. The gaming and tourism market in Macau went through periods of ups and downs in 2019. Visitor arrivals to Macau increased by 10.1% year-on-year to 39.4 million in 2019[4]. Overnight visitors accounted for 47.8% of total visitation. However, the Macau market continued to experience disruptions in transport, flights and visas since the virus outbreak, coupled with the ongoing trade situation between China and the US, a slowing global economy, RMB fluctuations and disruptions from Hong Kong in 2019. GGR in Macau declined by 3.4% year-on-year to MOP292.5 billion[5] (USD36.6 billion). Group Financial Results The Group recorded a loss for the year attributable to owners of the Company of RMB1,484.3 million in 2019 that slightly increased as compared to the loss for the year attributable to owners of the Company of RMB1,458.5 million in 2018. The Group recorded a loss for the year attributable to owners of the Company of RMB1,484.3 million in 2019 that represents a slight increase as compared to the loss for the year attributable to owners of the Company of RMB1,458.5 million in 2018. The loss for the year attributable to owners of the Company in 2019 was mainly attributable to [(i) the loss of approximately RMB521.7 million in respect of the change in fair value of derivative financial instruments; (ii) impairment on interest in an associate of RMB197.7 million; (iii) the loss on deemed disposal of subsidiaries of approximately RMB152.0 million; (iv) the loss of approximately RMB112.8 million in respect of the change in fair value of the investment properties; (v) the loss on deemed partial disposal of equity interest in an associate of approximately RMB60.4 million; and (vi) the share of loss of a joint venture of approximately RMB82.2 million. Revenue: Revenue was derived from (i) property development, (ii) property leasing, (iii) provision of hotel and integrated resort general consultancy services, (iv) provision of travel related products and services, and (v) other revenue. Revenue for the year under review was approximately RMB611.8 million, decreased by approximately RMB180.8 million when compared to approximately RMB792.6 million for last year. The decrease was mainly attributable to the decrease in revenue from the property development segment. i. Property development - The Group delivered residential units in the aggregate Gross Floor Area ("GFA") of approximately 621 m2 (2018: 2,981 m2), including high-rise building units of approximately 621 m2 (2018: 1,475 m2), luxury high-rise building units of nil m2 (2018: 279 m2) and villa of nil m2 (2018: 1,227 m2). As a result of the decrease in sale of GFA, revenue for 2019 decreased by approximately RMB158.5 million to approximately RMB18.9 million. ii. Property leasing - The revenue represented rental income and property management services income from the leasing of Gang Long City Shopping Centre. It recorded a decrease from RMB52.6 million for the year ended 31 December 2018 to approximately RMB44.8 million this year under review resulting from the continual decrease in occupancy rate from 67% to 60%. iii. Hotel and integrated resort general consultancy services - Hotel and integrated resort general consultancy services commenced since the second half of 2017 and the Group entered into technical service agreements with integrated resorts in Vietnam and Cambodia, revenue for the year under review was approximately RMB14.5 million in 2019 (2018: RMB19.8 million). iv. Travel related products and services - Revenue mainly represented the sale of hotel accommodation products and travel agency service income, the decrease in revenue for 2019 was mainly attributable to the slight decline in demand of hotel accommodation products in the fourth quarter of 2019 as compared to last year. v. Other revenue - Other revenue mainly represented the provision of property management services and transportation services in the Philippines which was attributable to Suntrust Home Developers, Inc. ("Suntrust") and its subsidiaries, collectively referred to as "Suntrust Group" acquired by the Group in the fourth quarter of 2019. Cash Position Bank balances and cash, pledged bank deposits and restricted bank deposits, in aggregate, as at 31 December 2019 amounted to approximately RMB289.0 million (31 December 2018: RMB103.1 million). Development Update HOIANA, Vietnam Construction works of the superstructure of HOIANA Phase 1 have almost been completed. The first phase of HOIANA spans over 165 hectares, featuring a casino that holds live table games, electronic gaming machines, Asian delights & other international cuisine, a designer golf course and more than 1,000 hotel rooms. Due to coronavirus disruptions to businesses, full opening of HOIANA is scheduled to happen in 2021 while an exclusive preview will be held in summer 2020. Despite the short-term business disruptions brought by the pandemic, Suncity Group is set for long-term growth when HOIANA opens for business. Major highlights in HOIANA Phase 1 include: Four hotels offering over 1,000 rooms, suites and villas, including the all-suite Hoiana Hotel & Suites that offers personalised 24-hour butler service; New World Hoiana Hotel & Residences, a hotel that caters for both short-term and long-term stays with deluxe accommodation; KHOS Hoiana, a brand-new hospitality concept that combines tastefully appointed guest rooms with free-flowing social hubs; and, Rosewood Hoi An (ready post 2021), luxurious villas that offer an inspirational journey of discovery for travellers, a perfect match with Rosewood Hotels & Resorts A Sense of Place ® philosophy; A 4km coastline with panoramic sea view, where a unique Beach Club is being built, offering authentic sun, sea, sand and entertainment; An 18-hole golf course, designed by the famous architect Robert Trent Jones Jr. The golf course has officially opened on 2 March 2020; A wide array of F&B and retail brands, along with exciting performances and entertainment activities for both gaming and non-gaming guests. Suncity Group is confident that HOIANA will become the finest entertainment hub in Southeast Asia, bringing positive benefits and sustainable development to its shareholders. Tigre de Cristal, Russia In addition to the existing offerings in Tigre de Cristal Phase 1, we are now adding a Suncity branded VIP room, a new hotpot restaurant, a Chinese noodle bar and a Korean BBQ restaurant, tailored to North-Eastern Chinese and Korean customers. The renovation of Phase 1 should be ready in summer 2020. Plans for Tigre de Cristal Phase 2 are being designed and we will provide further details later. Entertainment City, Philippines Piling works are being constructed on the construction site and we are now working on the architectural design of the hotel and casino for the allocated portion of the Westside City Project, located in the heart of Entertainment City, Manila, Philippines. The project is only 8 minutes from the Ninoy Aquino International Airport in Manila. The main casino hotel will have a total gross floor area of 182,000 sqm, projected to be opened before 2023. The main casino hotel will consist of: Approximately 400 gaming tables Approximately 1,200 slot machines 400 five-star hotel rooms 960 car park spaces Pool club & leisure club etc. The final product will be integrated with the shopping malls, theatres, restaurants, and shopping streets, etc. to be built by Westside City Resorts World Inc., including 2,000 additional hotel rooms, a shopping mall, a Grand Opera House, restaurants and theatre district and an additional of approximately 2,000 car park spaces. Other international locations In South Korea, Suncity signed a non-legally binding MOU with Paradise Co. for potential cooperation in Busan. In Japan, we purchased a scenic piece of land near the airport in Miyako Islands, Okinawa, with plans to develop 40 villas and 100 hotel rooms. Suncity also signed management agreements with HOIANA and integrated resort operators in Vietnam and Cambodia, where Suncity offers consultancy services in integrated resort operations in exchange for management fees. There is no need to contribute capital in management agreements. Suncity Group is also actively exploring international opportunities in the gaming and entertainment space, including Japan. Together with our local partner, Suncity aims to bring a world-class integrated resort tailored to the Japanese market. With rapid development in the gaming industry in these jurisdictions, Suncity envisions ourselves to become a leading integrated resort operator in Asia in a couple of years. Outlook Ever since the coronavirus epidemic turned into a pandemic, the virus has spread to multiple countries across the globe. We are grateful that the Central Government has dedicated resources and efforts to combat the virus early on. Many countries have since imposed measures to contain the virus for the greater good of their citizens. Locations where Suncity has dedicated resources in such as Macau, Vietnam, Russia, Philippines, South Korea etc. have now imposed restrictions on travels. For the time being, we have already seen lockdowns, travel bans, flight cancellations as well as a drastic decline in travel demand, which has impacted countless industries, and the gaming sector is not spared. The coronavirus has rattled HOIANA's opening plans. International flights to Vietnam were cancelled; visas were temporarily suspended; visitors who visited other countries would have to be quarantined. For a project investing over USD4 billion in total, with Phase 1 already invested over USD1 billion, the impact is undeniably substantial. From slower construction progress, as expat workers need to go under quarantine returning from home; to rescheduling inspections by the government, these inevitable consequences of the coronavirus have a knock-on impact on the proposed opening date. Even if HOIANA opens according to the original plan, the visa ban and flight cancellations would have a domino effect on the number of visitors. In light of this, Suncity and our investment partners have decided to set the grand opening date to be in 2021, with an exclusive preview targeting summer 2020. In HOIANA, we have implemented cost control measures without adversely affecting customer experience. We view the impact of coronavirus as a one-off blip. We are confident that the fundamental demand for entertainment in Asia is still strong as penetration rate is low. Suncity remains confident in the long-term growth opportunities of the gaming & entertainment industry in Vietnam. We expect that business should gradually resume once the pandemic normalises after the preview of HOIANA in summer. Plans in Tigre de Cristal in Russia has also been affected by the coronavirus. Tigre de Cristal is temporarily suspending its casino operations from 28 March to 5 April 2020, while the hotel will continue to operate on a limited capacity. Inevitably, businesses will be affected during this period. Tigre de Cristal has been performing solidly in mass and slots segments, even before the establishment of a Suncity room. The addition of a new Suncity's VIP room as well as new restaurants to an already EBITDA-positive property enhances its profitability, similar to adding icing on a cake. The impact of the coronavirus in the Westside City project in Manila was not as direct since operations have not yet started. Currently, piling works are being conducted at the site and we are progressing with architectural designs. Rome is not built in a day, a lot of planning and works have to be done prior to the official opening. Suncity remains long-term optimistic in the markets we invested in. When the pandemic situation is under control globally, we are strong believers that our customers will love the integrated resort products that we crafted for them. It is still premature to determine the exact duration of coronavirus; thus, it is difficult to estimate a full financial impact. Fortunately, flexibility is at the core of Suncity's corporate strategy. When business is back on track, we can go back to what we have been best at targeting at - the Asian consumers. Suncity's has been good at marketing, event promotions, and by leveraging on Suncity's customer database and platform across the board, we are optimistic that we will become a leader in entertainment in Asia. Whilst we strive to expand in jurisdictions that allow gaming, we manage jurisdiction risk meticulously. For Sun Travel, improving infrastructure such as the Hong Kong-Zhuhai-Macau Bridge, the Light Rail Transit and improved connectivity with Chinese cities set as the foundation for a further surge in demand for travel & hotels within the Greater Bay Area. Although short-term uncertainties such as the pandemic, the US-China trade issue, RMB fluctuations and potential disruptions in Hong Kong may prevail, we remain confident towards the improved visitation outlook in the Greater Bay Area. We will continue to work towards to become a leader in the travel and integrated resort industry. Selected Awards Awards Institution SUNCITY GROUP HOLDINGS LIMITED The Best Investor Relations Case Study Award 3rd Annual China Excellence IR IRSC International Road Show Centre HOIANA, VIETNAM Best New Golf Course in Asia Pacific 2019 Asia Golf Awards Best Golf Course in Vietnam USA Golf Digest Top 100 Golf Course of the Asia Pacific Asia Pacific by Cloud Golf, China TIGRE DE CRISTAL, RUSSIA Top 5 nominees of "Russia's Leading Resort 2019" World Travel Awards [1] International Monetary Fund, World Economic Outlook database, October 2019 [2] Vietnam National Administration of Tourism [3] Federal Agency for Tourism, Ministry of Economic Development for the Russian Federation [4] Macao Government Tourism Office [5] Gaming Inspection and Coordination Bureau, Macao SAR About Suncity Group Holdings Limited (HKEx stock code: 1383) Suncity Group Holdings Limited ("Suncity" or the "Group") is en-route to become a leading integrated resort operator in Asia. Originated from Macau, Suncity develops, operates and manages integrated resorts across Asia, including Vietnam, Philippines, Russia, Japan and South Korea etc. HOIANA is the first flagship integrated resort that Suncity jointly develop with our investment partners. Located in Central Vietnam, HOIANA is only 35 minutes away from the Danang International Airport and is located near to top tourist attractions in Danang and Hoi An. HOIANA is a world-class integrated resort with branded hotels, state-of-the-art gaming floors, multiple F&B restaurants, award-winning golf course and long pristine beaches. Suncity is the single largest shareholder of Summit Ascent Holdings Limited (HKEx: 102), and participates in the development of future phases of Tigre de Cristal Resort in Vladivostok, Russia. Suncity is also the controlling shareholder of Suntrust Home Developers, Inc. (PSE: SUN), who is going to co-develop Westside City project in the heart of Entertainment City in Manila, the Philippines. The Group also offers consultancy services to large scale integrated resorts in Asia. In addition, the Group operates in the travel related product and services segment and the property segment. Adhering to the spirit of "Innovating With Diversity, Striving For Success", Suncity Group spared no effort to develop entertainment and integrated resort products. Originated from Macau, Suncity Group actively explores integrated resort opportunities around the world. For more information about the Group, please visit http://www.suncitygroup.com.hk/?lang=en For Media & Investor Enquiries:Suncity Group Holdings Limited - Investor RelationsMs Winnie LeiTel: +852 2598 1180Email: ir@suncitygroup.com.hkRelated Links :http://www.suncitygroup.com.hk
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Ping An Donates US$1.5 million of COVID-19 Medical Supplies to Indonesia
HONG KONG and SHANGHAI, March 28, 2020 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEx:2318; SSE:601318) announced that in response to the Extraordinary G20 Leaders' Summit's call to support Indonesia in fighting the COVID-19 epidemic, Ping An and its Chairman Ma Mingzhe have donated a batch of medical supplies to Indonesia with a total value of US$1.5 million. The supplies include medical equipment, such as COVID-19 diagnostic test kits, infusion pumps and patient monitors. The donation also includes medical technology support such as COVID-19 smart image-reading system and AskBob medical AI assistants. In detail, the donated items include 10,000 sets of safety goggles, 10,000 sets of COVID-19 diagnostic test kits, 150,000 swab kits, 200 infusion pumps, and 100 patient monitors. Medical technology support includes 1,000 sets of COVID-19 smart image-reading system and 10,000 AskBob medical AI assistants. The medical technology donated were developed by Ping An. The AskBob medical AI assistant can be used to provide the public with COVID-19 education and Q&A assistance. The COVID-19 smart AI-empowered image reading system can generate accurate and rapid analysis of CT scans for each individual case within 15 seconds, with an accuracy rate reaching 97%. This service can aid and support doctor efficiency and accuracy in diagnosis. Ping An's COVID-19 smart image-reading system has provided services to more than 1,500 medical institutions in China, including Hubei Province, and has assisted doctors with analysis in over a million CT scans for more than 20,000 patients. In the past two months, the COVID-19 situation in China has improved with businesses and lives gradually returning to normal. However, the epidemic is still raging in many parts of the world, posing severe challenges to the health systems of many countries. On 20 March, the capital of Indonesia, Jakarta, declared a state of emergency and urgently needed support from the international community in terms of medical supplies and epidemic detection. This donation is in response to the Indonesian government's request for international assistance. Since the outbreak of the COVID-19 epidemic, Ping An has continuously introduced various initiatives in terms of insurance protection, public welfare donations and medical services, to play its part as a responsible corporate citizen. So far, Ping An has donated more than USD20 million (RMB150 million) of supplies and cash in China. Ping An has also provided free insurance protection for frontline medical staff, journalists, police officers and volunteers. Ping An joined hands with Ming Yuan Charity Fund and has donated RMB18 million to the Chinese Academy of Medical Sciences to support the Phase III clinical trials of COVID-19 drug Remdesivir and other clinical trials to combat COVID-19. Ping An's subsidiary Ping An Good Doctor has cooperated with 62 provincial, municipal and regional governments to provide real-time online and phone consultations. Since the outbreak, the total number of platform visits handled was 1.72 billion. Ping An Healthcare Testing Center was among the first batch of third party medical institutions authorized by Hubei Province to carry out the Nucleic Acid Test (NAT); the primary reference for COVID-19 diagnosis. The Center has also deployed 64-slice Mobile CT imaging vehicles, with over 500 tests conducted daily and over 22,000 tests conducted to date. Ping An Smart Healthcare, the smart health care team of subsidiary Ping An Smart City, created the "National Real-time COVID-19 Update System", covering 21 provinces and 31 cities. It provides smart epidemic forecasting for relevant national ministries and commissions as well as 15 provincial health committees, achieving more than 98% accuracy for 1-day forecast and 97% accuracy for 7-day forecast. Ping An Good Doctor cooperated with Grab, the Southeast Asia ride-hailing service provider, to co-launch an online medical service platform "GrabHealth" to help Indonesia in the fight against COVID-19, providing more than 10,000 daily consultations. "There is no distance too far between friends, for friendship gives wings to the heart." Ping An said, "The Extraordinary G20 Leaders' Summit has called on the international community to work together to establish a united front to respond to the COVID-19 epidemic, which is a common threat to humanity. Unity and cooperation is needed more than ever as the coronavirus knows no borders. Since the outbreak of the COVID-19 epidemic, countries around the world, including Indonesia, have supported China in fighting the epidemic. At present with many countries and regions suffering from the epidemic, Ping An stands ready to do its part by leveraging its advantages in insurance protection, financial services and healthtech to help prevent and control the global epidemic, and looks forward to a resounding victory in the fight against the epidemic in the near future." - End – About Ping An Group Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With over 200 million retail customers and 516 million Internet users, Ping An is one of the largest financial services companies in the world. Ping An has two over-arching strategies, "pan financial assets" and "pan health care", which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems of financial services, health care, auto services, real estate services and smart city services. Our "finance + technology" and "finance + ecosystems" strategies aim to provide customers and internet users with innovative and simple products and services using technology. As China's first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The Company is listed on the stock exchanges in Hong Kong and Shanghai. In 2019, Ping An ranked 7th in the Forbes Global 2000 list and 29th on the Fortune Global 500 list. Ping An also ranked 40th in the 2019 WPP Millward Brown BrandZTM Top 100 Most Valuable Global Brands list. For more information, please visit www.pingan.cn.
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AU Optronics Corp. Files 2019 Annual Report on Form 20-F
HSINCHU, March 27, 2020 /PRNewswire/ -- AU Optronics Corp. ("AUO" or the "Company") (TWSE: 2409; OTC: AUOTY) today announced that it has filed its annual report on Form 20-F for the year ended December 31, 2019 with the U.S. Securities and Exchange Commission (the "SEC"). The 2019 20-F is available on AUO's website at http://auo.com and on the website of the SEC at www.sec.gov. Hard copies of the audited financial statements included in the 2019 Form 20-F are available upon request to shareholders free of charge. To request a copy of the 2019 Form 20-F, please forward your request to https://app.irdirect.net/company/49733/hotline/. ABOUT AU OPTRONICS AU Optronics Corp. ("AUO") is one of the world's leading providers of optoelectronic solutions. Based on its profound R&D and manufacturing experience, AUO offers a full range of display applications and smart solutions integrating software and hardware, and leverages its core expertise to enter new business areas such as solar, smart retail, general health, circular economy and smart manufacturing service. Additionally, AUO has also been named to the Dow Jones Sustainability World Index since 2010. AUO's consolidated net revenues in 2019 were NT$268.79 billion. For more information, please visit AUO.com. Safe Harbour Notice AU Optronics Corp. ("AUO" or the "Company") (TWSE: 2409), a global leader of TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance of and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Annual Report on Form 20-F filed with the United States Securities and Exchange Commission on March 27, 2020. In addition, our SEC reports, including our Annual Report on Form 20-F contains other information on these and other factors that could affect our financial results and cause actual results to differ materially from any forward-looking information we may provide. We undertake no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances. View original content:http://www.prnewswire.com/news-releases/au-optronics-corp-files-2019-annual-report-on-form-20-f-301030801.htmlRelated Links :http://auo.com
