UnionPay's acceptance footprint extends to 174 countries and regions
New research by Deloitte identifies four leadership personas succeeding in the Fourth Industrial Revolution: Social Supers; Talent Champions; Data-dri
Taiwan-based Farglory launches homebuyers' campaign
Markel Issues Statement on Markel CATCo
Young Living Essential Oils Welcomes Wayne Moorehead as Executive Vice President of Marketing
EB-5 Program During Government Shutdown: Facts Investors Need to Know
Hexindai Provides Detailed Rebuttal to Baseless Allegations Made by Short Seller
Hexindai Signs Investor Insurance Coverage Agreement with Shanxi Zhengxuan Finance Guarantee
China Rapid Finance Named "2019 China New Finance Top 50" by Hurun Report
China Finance Online Forms Strategic Partnership with Leading Futures Brokerage Firm
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Ascenda acquires global loyalty consulting firm Loyalty Advantage
SINGAPORE, Jan. 18, 2019 /PRNewswire/ -- Ascenda, the global loyalty management company, today announced the acquisition of loyalty consulting firm Loyalty Advantage. Mark Mullinix -- previously Managing Director at Loyalty Advantage -- has joined Ascenda as Head of Loyalty Strategy. With the acquisition, Ascenda expands its loyalty advisory division and brings aboard Loyalty Advantage's proven expertise in rewards program development and optimization for leading brands across aviation, travel, retail and hospitality. In his new role, Mullinix will drive the company's vision of making loyalty simple and enabling clients to successfully develop & grow premium loyalty programs around the world. Prior to leading Loyalty Advantage, Mullinix held loyalty-centric roles at American Express in Canada, the UK, Hong Kong and Singapore. "Working with Ascenda to expand their loyalty advisory capabilities represents a fantastic opportunity to combine the strategic expertise of Loyalty Advantage with the technology and implementation capabilities of Ascenda, enabling us to deliver across the entire spectrum of client needs in the loyalty space," said Mark Mullinix, Loyalty Advantage's Managing Director. "We are thrilled to announce this strategic acquisition which further strengthens Ascenda's loyalty advisory services," said Kyle Armstrong, CEO of Ascenda. "The talent, expertise and client footprint from Loyalty Advantage deliver synergistic benefits across our loyalty management business." About Ascenda Ascenda is a global provider of innovative and powerful loyalty propositions for major financial services and travel brands worldwide. In a world of increasingly complex enterprise software and proliferating buzzwords, Ascenda strips away the noise and takes a fresh, practical approach to delivering compelling customer value. Acenda's solutions are beautifully simple whilst including everything a highly compelling loyalty program needs: from the right technology, content, and value proposition to the management of marketing, servicing, costs and fraud. Whether as end-to-end solution or as modular capabilities such as the TransferConnect currency network, loyalty propositions powered by Ascenda delight millions of customers worldwide every day, enabling leading loyalty programs to build deep & lasting customer relationships. For more information about Ascenda (formerly Kaligo Solutions), please visit www.ascendaloyalty.com. Contact: Valerie Perridon, valerie.perridon@ascendaloyalty.com Related Links :http://www.ascendaloyalty.com
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Jiayuan International Media Statement
HONG KONG, Jan. 18, 2019 /PRNewswire/ -- Jiayuan International Group Limited ("Jiayuan International" or the "Group"; SEHK stock code: 02768), an established property developer of both large-scale residential and integrated commercial complex projects in China, pointed out that the Group issued a senior note on January 19 and April 26, 2018 respectively, with a total value of US$350 million with a coupon rate of 8.125%. The Group confirmed that the full amount of the same has been repaid. The Group emphasized that its current financial situation is healthy and its business operation is normal. The Management is full of confidence in the company's future development. For the 12 months ended December 31, 2018, the Group's contracted sales amounted to approximately RMB 20.108 billion, increased by 94.6% year on year. About Jiayuan International Jiayuan International is an established property developer of large-scale residential and integrated commercial complex projects in different major cities in the People's Republic of China ("PRC"). With over 20 years of experiences in property development, the Group develops property projects through comprehensive planning, meticulous quality control, sophisticated operating systems and experienced professional teams to meet the needs of different regions and strengthen the Group's brand image. As of June 30, 2018, the Group has a portfolio of more than 40 property projects in China, covering the cities of Nanjing, Yangzhou, Nantong, Taizhou, Zhenjiang and Suzhou. Since 2016, the Group has taken the lead in entering Guangdong-Hong Kong-Macao Greater Bay Area, and has successively obtained a number of quality projects in Shenzhen, Jiangmen and Macau. In 2018, it established a joint venture company in Hong Kong to formally enter the Hong Kong real estate market; and purchased the quality properties in Shanghai from Mr. Shum Tin Ching, Chairman of the Group, thus enhancing its brand influence in the Yangtze River Delta Region. In addition, the Group also succeeded in expanding its business coverage to key provincial capital cities, including Guiyang and Urumqi. The Group also ventured into countries and regions along the "Belt and Road" initiative, such as acquiring fine and parcels in Cambodia, signifying a new level in the Group's international development.
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Vietnam International Bank: 2018 profit before tax reached VND2,741 billion, up 4 times in two years
HANOI, Vietnam, Jan. 18, 2019 /PRNewswire/ -- Vietnam International Bank (VIB) on 17 Jan 2019 announced its annual financial results of 2018. Accordingly, profit before tax reached VND2,741 billion, growing by 95% year-on-year and 37% higher than the plan. This is the second consecutive year that VIB's profit rate grew by approximately 100%. VIB's 2018 profit before tax reached VND2,741 billion, up 4 times in two years. Revenue increased by 48%, in which interest income and non-interest income increased by 40% and 92%, respectively. Non-interest income contributed 20% to total revenue. Cost to income ratio (CIR) reached an efficient level of 44%, reducing by 13% year-on-year. Return on equity (ROE) sharply increased to 22.5%, among banks with the highest ROE. Retail banking business continued making key contribution with revenue grew up by 90%. Wholesale banking and Treasury banking businesses also gained significant growth in profit of 22% and 49%, respectively. On 31 Dec 2018, total asset of the bank reached nearly VND140,000 billion. Deposit rose by 22.7% year-on-year. Lending balance reached VND98,933 billion, up 17.5%, of which, retail lending balance was VND74,300, rising by 48% in 2018 after having risen by 83% in 2017. Thanks to this impressive growth rate, VIB surpassed many big joint stock banks in terms of retail lending balance and affirmed its position as one of the joint stock banks with high retail lending market share. VIB's equity is VND10,662 billion. Capital adequacy ratio (CAR) under Basel II was 10.2%. Non-performing loan ratio (NPL) is 2.2% with zero legacy loan sold to VAMC. Photo - https://photos.prnasia.com/prnh/20190118/2351048-1
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Global survey from ACCA highlights international trade concerns among SMEs worldwide, and how they can maximise growth prospects
122 SMEs in Singapore respondedSINGAPORE, Jan. 18, 2019 /PRNewswire/ -- Global survey of more than 1,200 small medium enterprises (SMEs) reveals only 16 percent of companies worldwide have accessed advice on international trade when looking to grow their businesses. Among 1,200 SMEs surveyed globally, with 122 SMEs in Singapore responded. Amid uncertainty over Brexit, only 11 percent of UK SMEs have sought external international trade advice. Vietnam, Hong Kong and Singapore almost twice as likely to have obtained such information. Study also shows 24 percent of SMEs intend to undertake international trade activities in the next three years when looking to grow their business. UK SMEs are up to nine times less likely to use alternative sources of funding, than Malaysia, Hong Kong, Vietnam, Singapore. A global survey of 1,240 private-sector businesses has revealed that only 16 percent of SMEs worldwide are accessing advice on international trade, despite 31 percent citing uncertain global trade as their biggest barrier to growth over the next three years. ACCA (Association of Chartered Certified Accountants) has produced Scale-up success: What do SMEs need to supercharge their growth?, a study of companies with 250 employees or less on how their approach to management and governance can aid their future growth. It revealed the power of external advice and notably external funding networks as important ways to deliver an organisation's long-term growth potential. The survey highlighted the state of the domestic market and the uncertain global trade environment as the biggest barriers faced worldwide by SMEs. A mere 16 percent of SME businesses questioned had sought international trade advice, despite fears over the uncertainty of Brexit only 11 percent of UK companies have done so. This compared with Vietnam (21 percent), Hong Kong (18 percent) and Singapore (17 percent). Jamie Lyon, interim director of professional insights, believes firms intent on realising high growth ambitions need to think internationally and to prioritise seeking external advice. He said: "Growth can come at any stage of an SME's lifecycle. This requires business leaders to think strategically about the steps they can take to enable it. SMEs with high growth ambitions often tend to have an international outlook from the outset of their business journeys." "Growth prospects can be supported if SMEs build a governance structure from the outset of their business journey. It is important to establish a management team that encompasses the broader skills and experience required to help expand the organisation." "Use external advice to develop what you have –SMEs can help improve their resilience by developing relationships with relevant sources of external advice." External funding sources were also pinpointed as key factors for SMEs seeking to grow. Figures in the study highlighted the UK's approach being more tied to bank loans, funding from directors, family and friends and bank overdrafts. Whereas figures showed ASEAN (Association of Southeast Asian Nations) countries sought to use more alternative finance sources. Now thinking about raising finance, has your business accessed any of the following external sources of finance in the last three years? Total UK Malaysia Vietnam Hong Kong Singapore UAE + KSA Bank loan 34% 27% 32% 34% 34% 26% 33% Funding from directors, family & friends 25% 29% 32% 22% 23% 15% 25% Bank overdraft 21% 26% 19% 20% 16% 15% 14% Trade/invoice finance 19% 17% 18% 30% 21% 14% 24% Government grants 17% 12% 22% 21% 20% 31% 12% Asset based finance 15% 16% 10% 25% 10% 11% 23% Equity investment/Business angels 15% 8% 18% 25% 11% 13% 20% Venture Capital/Private equity 12% 5% 17% 13% 7% 10% 17% Peer-to-Peer lending platforms 10% 1% 8% 21% 7% 7% 12% Equity crowd funding 9% 2% 8% 18% 8% 7% 17% Haven't accessed external finance/Not applicable 18% 26% 15% 4% 12% 34% 11% Don't know 6% 5% 5% 2% 11% 9% 6% Mr Lyon believes the difference between ASEAN markets and the UK is highlighted by the former's internationalised focus and higher rates of technology adoption. He said: "ASEAN markets tend to be more internationalised, given places like Singapore are massive international trade hubs and also are situated in close proximity to China." "The UK's SME funding markets are notoriously concentrated -- about 80% of the UK SME lending is owned by the big four banks. Building an external funding network is crucial. Through building the right network, businesses looking to scale-up may find external funding more accessible." About ACCA ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. ACCA supports its 208,000 members and 503,000 students in 179 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 104 offices and centres and more than 7,300 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence. ACCA has introduced major innovations to its flagship qualification to ensure its members and future members continue to be the most valued, up to date and sought-after accountancy professionals globally. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. More information is here: www.accaglobal.comRelated Links :http://www.accaglobal.comhttp://www.accaglobal.com/sg/en.html
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"Venture Tianfu" event was successfully held in London, UK
LONDON, Jan. 18, 2019 /PRNewswire/ -- On January 14, 2019, led by Liao Dongyun, Deputy Secretary General of Chengdu Committee of the Communist Party of China, the "Venture Tianfu" event was successfully held in Silicon Roundabout which is the center of science and technology in London. The Chengdu Municipal Office, Chengdu Science and Technology Bureau, Chengdu New Economy Committee, Chengdu Exposition Bureau (Chengdu Municipal of CCPIT) and other institutions also participated in organizing this event. Venture Tianfu is aimed at further gathering innovative global resources, strengthening the driving force of entrepreneurship and building up the innovative channel Chengdu and global prestigious colleges and universities for high-end talents communication, application development and market transformation. More than 100 people, including social groups, top universities, international incubators, renowned experts and youth innovation and entrepreneurship teams from China, Britain and other countries, explored and shared the newest trends and cooperative opportunities of global innovative and entrepreneurial incubation. The event was hosted by Laura-Jane Silverman, head of the LSE Generate, LSE Research & Innovation, the London School of Economics and Political Science. During the event, Liao Dongyun, Deputy Secretary General of Chengdu Committee of the Communist Party of China, made a speech. Hua Chengke, the vice inspector of the Science and Technology Bureau of Chengdu, shared the innovative and entrepreneurial policies and the blueprint of Chengdu's future development with the guests. Mr. Kartik Varma - MD, Barclays Accelerator, Techstars and Mr. Raphael Levy, the partner of DealGlobe also made keynote speeches. During this event, deep exchanges and cooperation between Chengdu and the UK government, universities and enterprises were discussed in the fields of financial technology, information networks, bio-medicine, clean energy, economic and trade exchanges, conventions and exhibitions, etc. Venture Tianfu The success of this event not only established the communicative and cooperative platform of innovation and entrepreneurship between Chengdu and London, but also expanded the width and depth of both side's cooperation in innovation and entrepreneurship; talent exchange; deep integration of universities and colleges; development of new economy, economic and trade exchanges; as well as conventions and cooperation, creating ideal conditions for continuously promoting and accelerating the ecosystem and innovative ecological chain of Chengdu and forging it into a center of innovation and entrepreneurship with international influence. View original content to download multimedia:http://www.prnewswire.com/news-releases/venture-tianfu-event-was-successfully-held-in-london-uk-300780719.html
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Union Bancaire Privee announces a net profit of CHF 202.4 million, and net asset inflows of more than 5%
GENEVA, Jan. 18, 2019 /PRNewswire/ -- UBP's net profit for the full year 2018 was CHF 202.4 million (CHF 209.4 million excluding non-recurring costs relating to acquisitions), compared with CHF 220.4 million in 2017. Net inflows of assets reached CHF 7.3 billion (5.8% of total assets); CHF 4.7 billion in net new money and CHF 2.6 billion thanks to the integration of ACPI. The Bank ended 2018 with CHF 126.8 billion in assets under management, up 1.2% from CHF 125.3 billion at the end of 2017, after a difficult year in the stock and currency markets. A year marked by strong inflows and the acquisition of ACPI Net asset inflows totalled CHF 7.3 billion at the end of 2018, of which CHF 4.7 billion in net new money, equally balanced between private and institutional clients, and CHF 2.6 billion from the acquisition of ACPI, which was completed at the end of the year. This growth made up for the difficulties in the stock and currency markets, in particular the strength of the Swiss franc against the euro (which had a negative impact of CHF 1.2 billion). UBP's assets under management reached CHF 126.8 billion, a 1.2% year-on-year rise. Income rose by 1.6% to CHF 1.06 billion. The interest margin grew sharply (+8.2%), while the slowdown in brokerage (-16%), due to the low volume of transactions in the second half of the year, was offset by the upturn in management and advisory fees. The proportion of clients with their assets managed in mandates or in funds has now increased to more than 60%. Operating expenses amounted to CHF 698 million for 2018 (versus CHF 673.1 million in 2017). Costs remain under control (+3.7%) and are mainly attributable to non-recurring charges (CHF 7.2 million) generated by the acquisitions of ACPI in London and Banque Carnegie Luxembourg (which is expected to be finalised at the end of January 2019), and to recruitments in Asia and the Middle East. Furthermore, UBP made substantial investments in the digital and IT arenas, most notably having entered into a partnership with IBM for the development and maintainance of its IT platforms. UBP posted a 2018 operating result of CHF 257.5 million before provisions (compared with CHF 271.2 million in 2017), and a net profit of CHF 202.4 million, compared with CHF 220.4 million the previous year; an 8.2% decline (or -5.2% excluding non-recurring costs). The cost/income ratio for the year was 65.8% (compared with 64.4% in 2017). "We continued to invest in both our offering and our resources amid declining markets and a clear drop in client transaction volumes. The acquisitions of ACPI and Banque Carnegie will allow us to step up our growth in Europe, and the recruitment of new teams in Asia and the Middle East reflects our ambitions in those priority markets. This year's strong net inflows are the reward for our teams' hard work in meeting the expectations of our clients, who seek tailored and innovative solutions", said UBP's CEO Guy de Picciotto. Strong fundamentals The balance sheet is stable at CHF 32.6 billion (CHF 32 billion a year ago), and the Tier I ratio, at 26.6%, remains well above Basel III and FINMA minimum requirements. This careful balance sheet management makes UBP one of the best-capitalised and strongest banks among its peers, as attested by the recent long-term Aa2 deposit rating assigned to it by Moody's. UBP thus has the financial means required to continue its development both in Switzerland and worldwide. Click here to view the complete Financial Results. About Union Bancaire Privee (UBP) UBP is one of Switzerland's leading private banks, and is among the best-capitalised, with a Tier I ratio of 26.6% as at 31 December 2018. The Bank is specialised in the field of wealth management for both private and institutional clients. It is based in Geneva and employs 1,781 people in over twenty locations worldwide; it held some CHF 126.8 billion in assets under management as at 31 December 2018. www.ubp.com Logo - https://photos.prnasia.com/prnh/20190118/2350931-1LOGO
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Frost & Sullivan's Webinar Explores Growth Opportunities Resulting from Emerging Insurance Trends
Insurable Markets, Business Models, Operations, and Insurtech Disruptors Transforming the Global Insurance Industry LONDON, Jan. 18, 2019 /PRNewswire/ -- Frost & Sullivan, the growth partnership company, announced today that it will host a live, complimentary Growth Innovation Leadership (GIL) briefing titled, "The Future of Insurance", on Wednesday, 23rd January, at 10 am EST. The webinar will offer Frost & Sullivan's expert insight from Lauren Martin-Taylor, Principal Consultant, Visionary Innovation Group, and Clare Walker, Industry Principal, Business and Financial Services at Frost & Sullivan. The insurance industry is changing dramatically, from trends driving new insurable markets to insurtechs disrupting the status quo with new strategies, technologies, and business models. New opportunities in insurance range from tapping into nearer-term opportunities such as new data streams generated by smart cities, offerings that address increasing income divergence, and the role of wearables in reducing worker liability claims, to longer-term opportunities such as self-healing materials, cyber coverage for elective body implants, and policies that address the implications of biological augmentation. Embarking on emerging insurance business models such as prevention-as-a-service, on-demand insurance, usage-based insurance and value-added services will allow insurers to compete more effectively in this changing market. Likewise, adoption of Artificial Intelligence (AI), automation, and shifting IT infrastructure will be essential to future insurance operations. Insurtech disruptors are leading the charge in many of these areas. They are developing and embracing the new data sources and advanced technologies to meet the continually changing customer expectations. Innovative carriers understand that transformation is upon them, and there have been several key partnerships between carriers and startups. Many of the partnerships focus on using AI and Machine Learning to automate workflow and address carriers' other pain points, including security and leveraging and storing data. "Dominant social trends such as millennials, the elderly, and growing income divergence will have a substantial impact on the insurance market, as will technology trends such as AI and connected living," said Martin-Taylor. "Insurers not investing in these areas now will find themselves at a disadvantage in the coming years." "The introduction of advanced technologies in insurance has modified the ecosystem completely as startups launch new products and business models. The global insurtech market saw more than $1.3 billion in venture capital investment in the first half of 2018, putting it on track to exceed 2017 investment by almost 18%," said Walker. "This rapid growth has compelled insurers to take the necessary steps to remain competitive by partnering with insurtechs that can help them automate, analyze and secure data, and serve their customers better." Join us to gain a more comprehensive understanding of the insurance market to tap into growth opportunities. For more information and to register for the webinar, please click here. About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion Press Contact: Kristi Cekani Corporate Communications - Frost & Sullivan, EuropeP: +39 (0)2 4851 6133E: kristi.cekani@frost.comhttp://www.frost.comRelated Links :http://www.frost.com
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Qiming Venture Partners Announces 2019 Promotion
SHANGHAI, Jan. 17, 2019 /PRNewswire/ -- Qiming Venture Partners, a leading venture capital firm in China, today announces the promotions of 7 professionals: Stella ZHOU Lingfei (Intersumer) is promoted to Partner, Oscar ZHANG Ao (Healthcare) and Jinda GAO (Healthcare) to Principals, and Alex YAN Jingkai (Intersumer) to Vice President. There are three promotions of financial and administrative support team: Jimmy LU Jinjie is promoted to Senior Finance Manager, Alan LI Gongzuo to Senior Manager of Investor Relations (RMB Fund), and Laura WANG Yiping to Senior Human Resources Manager. Qiming Venture Partners is committed to be the best employer in the venture capital industry. At a time when employment opportunities are becoming increasingly diversified, Qiming has built a strong career development platform based on a culture of meritocracy, inclusiveness, openness, and respect that provides a clear internal path to promotion and affords team members the opportunity to continuously develop their career. JP GAN, a Managing Partner of Qiming said, "Congratulations to the team members who have been promoted this year. We would like to extend our appreciation for their contributions to Qiming over the years and are delighted with the achievements they have made in their career. It is a great pleasure to welcome Stella Zhou to be one of our partners. Stella is a highly skilled and well-respected investor. We are pleased that she became the first Qiming partner promoted internally from associate. We want to continue to attract, cultivate and motivate the most talented individuals, to have their expertise serve the entrepreneurs and companies we invest in, to help them grow, to create value, and to transform them into great companies." Stella ZHOU, who joined Qiming Venture Partners in 2010, was the first associate to be elevated to a partner from within, and the youngest among the current partners at Qiming. During the past nine years, Stella has led and participated in many important investments with her great intuition, accurate judgement, and excellent execution. She has developed a unique investment style with her deep insights into the Internet and Consumer industry, in-depth analysis of the business model, well understanding of Generation Z, coupled with her belief and trust in the entrepreneurs. Her investments include Mogu Inc. (NYSE: MOGU), Musical.ly (acquired by Toutiao), Tuhu.cn, Mafengwo.cn, and Wacai.com. "I'm excited about this promotion and feel very honored to have worked at Qiming for nine years. This is also the longest that I have worked at any firm and the most important part of my career. Looking ahead, I want to continue to put my heart and soul into everything I do while looking forward to the opportunity to embrace change with the most forward-looking group of entrepreneurs. Through the establishment of a sound business model, we can truly affect many people's lives while bringing superior returns to our Limited Partners," Stella said. Oscar ZHANG and Jinda GAO joined Qiming Venture Partners in 2015. They have provided professional guidance for investment decision-making and post-investment management in the healthcare sector by integrating industry resources through rigorous and meticulous research. Alex YAN joined Qiming Venture Partners in 2015. During the past three years, he has actively participated in many investments in the internet and consumer sector, and his in-depth industry analysis has provided an important basis for investment decisions. Jimmy LU, Alan LI and Laura WANG joined Qiming Venture Partners in 2012, 2015 and 2009 respectively. As strong performing professionals in their fields, they have leveraged their knowledge, skills and experience to accelerate the development of the firm. Duane Kuang, a Managing Partner of Qiming, said, "Companies with foresights regard the talents as their most important asset. Our culture fully recognizes those who have made outstanding contributions to the development of our firm and our portfolio companies in the past and will continue to do so in the future. They bring the best and most sustainable returns to our funds, and serve as the bridge and bond between us and our investee companies." About Qiming Venture Partners Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Shenzhen and Hong Kong. In 2017, Qiming Venture Partners raised its first US fund, and set up Qiming Venture Partners' US offices in Seattle, Boston and Palo Alto. Currently Qiming Venture Partners manages seven US Dollar funds and five RMB funds with US$4 billion assets under management. Qiming Venture Partners strives to be the investor of choice for top entrepreneurs in China. Since our debut, we have backed over 310 young, fast-growing and innovative companies across China in the internet and consumer ("Intersumer"), healthcare, information technology and clean technology sectors. Over 50 of them are already listed on NYSE, NASDAQ, Shanghai Stock Exchange, Shenzhen Stock Exchange, HKEx and Gretai Securities Market or achieved exit through M&A. There are also nearly 20 portfolio companies that have been recognized as unicorns in the industry. And many of our portfolio companies are today's most influential brands in their respective sectors, including Xiaomi (01810.HK), Cootek (CTK.US), Meituan-Dianping (03690.HK), Mogujie Inc. (MOGU.US), Meitu (01357.HK), Bilibili (Nasdaq: BILI), Tigermed (300347.SZ), Gan & Lee, Zai Lab (Nasdaq: ZLAB), Hexing (603556.SH), CSD (603903.SH), Tellgen (300642.SZ), AmoyDx (300685.SZ), Berry Genomics (000710.SZ), HyperStrong, We Doctor Group, Face++, UBTech, Mobike, Sinocell and WeRide.ai. Qiming Venture Partners consistently ranks among the top venture firms in terms of returns to its investors.
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Ignite Strategic Growth through Intelligent Risk-taking and Innovation Portfolio Management
Renegade leaders from Pfizer and DuPont to provide pointers at the 13th Annual New Product Innovation & Development: A Frost & Sullivan Executive MindXchangeSANTA CLARA, Calif., Jan. 17, 2019 /PRNewswire/ -- Frost & Sullivan is pleased to announce that Dan Seewald, Head of World Wide Innovation, Pfizer, and Ashok Chetty, Innovation Leader, DuPont, will give keynote presentations at the 13th Annual New Product Innovation & Development 2019: A Frost & Sullivan Executive MindXchange, on March 25-28, 2019, at the Hyatt Regency La Jolla, La Jolla, Calif. Risk-Taking and Innovation To register and download the event agenda for the 13th Annual New Product Innovation & Development 2019: A Frost & Sullivan Executive MindXchange, please visit: www.frost.com/pds Seewald's opening keynote, The Risk Taker and The Learner, will focus on the thoughtful risk-taking mindset needed for success in the new age of business. He will explain why a new risk-taking approach must be cultivated, especially in larger organizations. Key takeaways will include: Insights on how an innovative organizational mindset can play a pivotal role in success and failure Framework to actively develop a thoughtful risk-taking approach in your own organization Fresh perspective and tips that can be applied by leaders and change agents within your organization Seewald knows what it takes to be a renegade inside a large organization. As the head of Pfizer's World Wide Innovation Team, he led the architecture and design of Dare to Try, one of the Fortune 100's leading design thinking and strategic innovation programs. He is trained and certified in cutting-edge areas such as Creative Problem Solving (CPS), Design Thinking, LEGO Serious Play and Lean/Agile Experimentation, and has been teaching, training and advising these methods to leadership teams around the world for nearly 10 years. Ashok Chetty's capstone keynote presentation, Innovation Game Changer, will offer a new approach to portfolio management brought on by the recent merger between Dow and DuPont. Participants will discover how this newly formed growth company now views portfolio management as a tool to uncover new opportunities, challenge legacy thinking patterns and fuel major improvements in the size and ROI of innovation projects. Chetty will share his organization's journey to growth as well as implementation issues encountered along the way. Chetty has actively led and managed innovation at DuPont for over 20 years. He has a passion for learning and trying new approaches and paradigms to solve long-existing problems. His career has included marketing, business strategy, and technology leadership roles in businesses serving a variety of industries. For additional information, please email: events.us@frost.com or call Matthew McSweegan at 516-255-3812. About Frost & Sullivan For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion Contact:Francesca ValenteCorporate Communications – AmericasP: +1 210 348 1012E: Francesca.valente@frost.com Related Links :http://www.frost.com
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Luokung Technology Corp. Announces Investment of Honbridge Holdings Limited
BEIJING, Jan. 17, 2019 /PRNewswire/ -- Luokung Technology Corp. (Nasdaq: LKCO)(" Luokung" or the "Company"), one of global leading graphics data processing technology companies, a leading interactive location-based services company in China, , today announced that it has entered into a Securities Purchase Agreement (the "Agreement") with Honbridge Holdings Limited, a Cayman Islands corporation (the "Purchaser") on January 16, 2019. Pursuant to the terms of the Agreement, the Company agrees to sell, and the Purchaser agrees to purchase, 2,000,000 shares of Ordinary Shares of the Company (the "Shares") at a price of $6 per share for a total amount of $12,000,000 (the "Subscription Amount"). Upon receiving 50% of the Purchaser's Subscription Amount, (the "Initial Subscription Amount"), the Company shall deliver the 1,000,000 shares of Ordinary Shares of the Company (the "Initial Shares") to the Purchaser (the "Initial Closing Date"). The Company shall file a Registration Statement on Form F-3 with the SEC seeking registration of the Shares for resale (the "Registration Statement") as soon as practicable, which shall be within two weeks after either (i) the Initial Closing Date or (ii) the date of the Company's filing its annual report for the year ended December 31, 2018; provided that, however, the Company shall ensure that, in any event, the date of filing the Registration Statement (i) shall not be later than the date of filing the Registration Statement for other shareholders of the Company; and (ii) shall not be later than April 30, 2019. Within five (5) business days of the satisfaction or waiver of certain closing conditions including but not limited to the effectiveness of Registration Statement, the Company shall have the right to require the Purchaser to purchase the remaining 1,000,000 shares of Ordinary Shares of the Company (the "Subsequent Shares") by delivering to the Purchaser an irrevocable written notice that the Company has exercised its right to require the Purchaser to purchase the Subsequent Shares (the "Subsequent Closing Notice"). The Purchaser shall pay the remaining Subscription Amount (namely, US$6,000,000) (the "Subsequent Subscription Amount") by wire transfer to the bank account designated by the Company within five (5) Business Days of the date receiving the Subsequent Closing Notice and the Company shall deliver the 1,000,000 shares of the Ordinary Shares of the Company to the Purchaser within three (3) Business Days of the payment of the Subsequent Subscription Amount (the "Subsequent Closing"). If the SEC only approves the effectiveness of the Registration Statement covering the resale of the Initial Shares, the Purchaser shall notify the Company in writing or sending a notice to the Company whether it shall purchase the Subsequent Shares within seven (7) calendar days of the date on which the restrictive legend on the certificates representing the Initial Shares is removed. The purchase price shall be fixed at US$6.00 per Share. The Company shall deliver the Subsequent Shares to the Purchaser within three (3) Business Days of the payment of the Subsequent Subscription Amount and shall file a Registration Statement covering the resale of the Subsequent Shares within four weeks after the date of payment of the Subsequent Subscription Amount by the Purchaser. If the Subsequent Closing conditions have not occurred by the date that is nine (9) months after the Initial Closing Date, the Purchaser's obligation to purchase the Subsequent Shares shall be terminated. The Company and the Purchaser shall sign a separate agreement if the Purchaser wants to purchase any Ordinary Share after a period of the 9 months from the Initial Closing Date. If the Company fails to file the Registration Statement covering the resale of the Shares on or before April 30, 2019 or fails to file the Registration Statement covering the resale of the Subsequent Shares before the deadline provided in Agreement, it shall indemnify the Purchaser US$30,000 per calendar day, subject to a maximum of US$3 million in aggregate. The Shares to be issued by the Company pursuant to the Agreement shall be sold and issued pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Luokung Technology Corp. Luokung Technology Corp. is one of global leading graphics data processing technology companies and a leading interactive location-based services company in China. The core brands of the Company are "Luokuang" and "SuperEngine". "Luokuang" is a mobile application to provide B2C services and "SuperEngine" provides B2B and B2G services in connection with Spatial-Temporal big data. The Company's mobile application LuoKuang, provides location- based interaction services for users based on the world's first non-slicing, full-vector and full-function mobile internet map, it also provides SDK embedded services to third-party mobile application providers based on its full-vector and non-slicing mobile internet map. The Company provides SaaS services in relation to spatial-temporal big data internet and internet of things relying on its proprietary patented spatial-temporal cloud indexing technology, in fields including but not limited to HD Map, 3D Map, Satellite Remote Sensing Data and Real-time trajectory. For more information please go to http://www.luokung.com. Business Risks and Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law. For investor and media inquiries, please contact:At the Company:Mr. Jay YuChief Financial OfficerTel: +86-10-5327-4727Email: yujie@luokung.com View original content:http://www.prnewswire.com/news-releases/luokung-technology-corp-announces-investment-of-honbridge-holdings-limited-300780124.htmlRelated Links :http://www.luokung.com
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Sound Celebration @ Ocean Terminal Deck, Harbour City
Leading the Future of Experiential Wellness Rooted in Authenticity and Nature HONG KONG, Jan. 17, 2019 /PRNewswire/ -- Taking a trendsetting lead on the global buzz of wellness and mindfulness, Harbour City celebrates the new beginning of 2019 with a transcendent Sound Celebration experience featuring Asia's biggest meditation gong collection and a panoramic view Hong Kong's iconic skyline at Ocean Terminal Deck. Sound Celebration @ Ocean Terminal Deck, Harbour City features Asia’s biggest meditation gong collection over a panoramic view of Hong Kong’s iconic skyline. Wellness is one of the world's fastest-growing market segments. The latest estimate from The Global Wellness Institute put the value of the wellness market at a whopping US$4.2 trillion, having grown 12.8% in the last two years. The industry now represents 3.5% of global economic output. In Asia, wellness is particularly prized as a status symbol among modern consumers. In China, one of the world's most health conscious markets, the health and wellness segment is projected to reach US$70 billion by 2020, according to Boston Consulting Group. With holistic health emerging as a consumer priority, Harbour City curated a one-of-a-kind experience with a team of highly respected sound practitioners from Hong Kong and abroad, blending the sound of gongs and other sacred instruments with cosmic-tuned music and the natural rhythm of the waves in the harbour. Rooted in the authenticity of sound and its connection with nature, the experience marks a new initiative to bring a wide variety of positive, joyful and remarkable experiences to the largest shopping mall in Hong Kong. Sound Celebration also marks the first public showcase of Asia's biggest meditation gong collection -- a total of 28 cosmic-tuned gongs that can create a vibration resonance field complementing the human body with nature and the universe -- supported by Red Doors Studios, a Hong Kong-based boutique studio widely recognised as the centre for gong training and the study of sound practices. (Left to right) Martha Collard, Founder & Catalyst for Emotional Wellbeing of Red Doors Studio; Jens Zygar and Alix Decker, rhythm and sound musicians from Germany. Martha Collard, Founder and Catalyst for Emotional Wellbeing of Red Door Studios, led the Sound Celebration experience, alongside world-renowned rhythm and sound musicians Jens Zygar and Alix Decker hailing all the way from Germany. Connect with Nature in an Authentic Experience Ocean Terminal Deck is the latest addition to the many attractions at Harbour City, and is becoming a unique concept and a highly versatile space for experiential wellness right in the middle of the city centre. With a 270-degree panoramic view of the Victoria Harbour, the space offers unobstructed access for everyone to slow down, breath and connect with nature. The picturesque environment of the deck not only appeals to the Millennials driving the growing pursuit of wellness, but also makes the ideal location for the Sound Celebration experience. The gongs are among the most powerful sacred instruments, and their vibration amplifies further in an open space linked to the open sky and water. Martha Collard said, "Gongs are universal for all people. The sounds and rhythms connect us with heaven and earth. The calm they inspire brings global resonance for a world of peace as we celebrate the beginning of a New Year." Jens Zygar, who shared the stage with Collard and has managed the production of these handcrafted gongs for over 30 years, said: "I was inspired by the science of the frequencies of nature, which as music can elevate life quality and inspire integral efficiency, and in many ways transformative on a personal level." Exclusively for Harbour City, Collard also created a labyrinth at Ocean Terminal Deck where visitors of Sound Celebration can walk along a single circuitous path winding into the center for a moment of tranquillity and peace. Unlike a maze, a labyrinth is a single path with no dead ends. This allows the mind to calm down and focus on the journey rather than the destination. Performers Bio Martha Collard, Founder & Catalyst for Emotional Wellbeing, Red Doors Studio Martha has lived in Asia for over 30 years and as the founder of a boutique studio of calm, she lives her passion to help others by offering opportunities to slow down, connect and rejuvenate using ancient practices that are highly relevant for today's busy lifestyle. Red Doors provides the platform to share the sound of meditation gongs, walking meditation on labyrinths and kundalini yoga, elevating energies and shifting mindsets to make a difference in the community. Before establishing Red Doors, Martha was in consultancy and her last assignment was with Lane Crawford Joyce Group as VP Group Organizational Wellness where she built a holistic wellness platform for 5,400 staff in four companies in Greater China. Jens Zygar Jens is a rhythm and sound musician specializing in a healing and holistic understanding of contemporary sound music. Jens has managed the production of planetary tuned symphonic gongs by German manufacturer PAISTE for over 30 years, inspired by the healing effects of the frequencies of nature. For the past 25 years, Jens has toured all over the world playing cosmic tuned trance music, releasing 12 albums and is well-known as musical pioneers combining acoustics with electronic sounds. He has played his latest live trance act, called Cosmic Vibration, with his band at music festivals and holistic events across Europe and beyond. Check out video at: https://youtu.be/soTlyYaIBxU Download photos at: https://www.dropbox.com/sh/ivonqo6j3pkm65t/AAD5Ep-08QkwKdtoiTPJPaf4a?dl=0 Harbour City Customer Hotline: (852) 2118 8666Website: www.harbourcity.com.hk Photo - https://photos.prnasia.com/prnh/20190117/2349982-1-a Photo - https://photos.prnasia.com/prnh/20190117/2349982-1-b Logo - https://photos.prnasia.com/prnh/20140721/8521404095LOGO Related Links :http://www.harbourcity.com.hk
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Participated in ISPO Beijing, Secoo Expands Premium Sport Business
BEIJING, Jan. 17, 2019 /PRNewswire/ -- ISPO Beijing, the leading multi-segment sports exhibition in Asia, has been taken place at Shunyi District and the exhibition event is scheduled to hold from January 16th - 19th, 2019. As a participant, Secoo has declared its new sportive concept and business expansion by discovering more partnerships through "SSS Cooperation Plan" and consummating industrial chain to closely act as premium sports advisor for high-end consumers. As a market, the Asian-Pacific is of an almost unimaginable size. Chinese government has also promoted a regulation to expand national sport consumption to 15 billion RMB. Meanwhile, sports for high-end consumers, such as equestrian and golf, are in a burgeoning development, covering relevant equipment and services. ISPO has created the one place where all the market players, the concentrated know-how, pioneering innovations and valuable business solutions can always come to exchange ideas. As Asia's largest premium lifestyle platform, Secoo has begun its sport business since the end of 2017. Categories include professional sport equipment, premium services and fashion sport products. To participate, the ISPO Beijing is the key to the Asian sports market. For exhibitors, ISPO Beijing is a platform where Chinese and international players of the sports industry meet. This is a chance for Secoo to get in contact with future partners and clients, to be familiar with competitor's strategies and strengthen existing partnerships. Connect with Chinese key opinion leader (KOL), and win their trust to get exposure as well as to be part of the biggest sport in the world. Besides that, the exhibition offers a variety of events and workshops to get insights into the most important trends, innovations and technologies for the sports market. With the Olympic Winter Games 2022 ahead – Beijing is one of the most exciting places for the entire industry. The CGO of Secoo Group, Ren Guanjun said that, in China, more than 90% companies has revealed a down trend, but the luxury industry, especially the luxury e-commerce is still increasing sharply, the market is still very potential. The further participation in ISPO event will improve Secoo's development of premium sport business. In addition, Secoo will bring more multi-dimensional experience for 20 million high-end consumers by establishing a comprehensive premium lifestyle service. From the perspective of Secoo, a SSS Cooperation Plan (Secoo Sports Style) is attempting to provide consumers a broaden premium sport market for high-end consumers. Sport is not a competition, but a lifestyle with iconic trend and private selection. Based on this concept, Secoo offers a comprehensive sport lifestyle and forge an overall premium sport service to better deliver the attractive things to consumers. View original content:http://www.prnewswire.com/news-releases/participated-in-ispo-beijing-secoo-expands-premium-sport-business-300780125.html
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Future Finance Expands Dublin and London Offices
-- Future Finance secures new Dublin and London offices -- New spaces facilitate company's rapid growth -- Future Finance continuing to hire across software engineering, product management, marketing, and operations LONDON and DUBLIN, Jan. 17, 2019 /PRNewswire/ -- Future Finance, the UK's leading specialists creating products and services for the next generation, has moved into new expanded office spaces in London and Dublin as it continues to grow its employee base. The new London office, located near key university partners in the prime Covent Garden neighborhood, is 2,761 square feet and can accommodate up to 35 employees. Future Finance continues to grow its footprint in London, with a focus on marketing, partnerships, product management, and compliance. The new city centre Dublin office can accommodate up to 75 employees. Dublin, Future Finance's headquarters, continues to hire across all parts of the business, with a focus on software engineering and operations. Future Finance continues to invest in Chicago, where it has expanded its existing office, with a focus on software engineering, analytics, and credit risk. On the office expansions, Head of People Operations Bébhinn Whelan commented, "This is a really exciting time for Future Finance. Our expanded offices across Dublin, London, and Chicago enable us to add to our excellent existing staff and continue to drive the business forward. We are invested in the wellbeing of our staff and it is important to the company that we provide a comfortable and inspiring work environment." CEO Olga Dolchenko added, "In a competitive commercial real estate and talent environment, Future Finance is well positioned to continue our growth and expansion plans by making the investments we need to build a successful team and business." About Future Finance Future Finance provides competitive, tailored finance products and services to UK students and young professionals. Future Finance's student and graduate loans are designed to help aspiring young adults reach their full potential. Future Finance's proprietary platform is custom built for the needs of the UK's next generation. Future Finance offers student loans from £2,000 to £40,000 to help cover tuition and living expenses. Future Finance also offers a personal loan of £2,000 to £10,000 designed for recent graduates. Both products are underwritten using not just traditional credit data, but taking into account an applicant's future potential. Future Finance is authorised and regulated by the Financial Conduct Authority in the U.K. Firm Reference Number is 719436. Logo - https://mma.prnewswire.com/media/625551/futurefinance_logo_stacked_EPS__2_Logo.jpg Related Links :https://www.futurefinance.com
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New Frontier Group, industry leader in Cost Containment and Assistance Solutions, announces the arrival of its newest management team member to its ra
NEWPORT BEACH, California and CHICHESTER, United Kingdom, Jan. 17, 2019 /PRNewswire/ -- New Frontier Group, www.newfrontiergroup.com, Leaders in Global Medical Solutions, has expanded its worldwide management team. New Frontier Group welcomes Mr. Rob Upton as the company's new Group Business Development Director. Based in the UK, Mr. Upton will focus primarily on the European and Middle Eastern markets but will also be working very closely with our LATAM Business Development team in Miami, California and the Midwest. "At the end of an extensive worldwide search reviewing several hundred possible applicants for this formidable position, Mr. Upton was the clear choice for our fast paced and growing organization," said Randall L. Condie, Chief Operating Officer. Mr. Upton brings with him a wealth of experience in the travel insurance sector having held senior roles with companies in our industries including Mondial, Europ Assistance, CEGA and most recently Healix International where he was Director of Insurance Markets. "I'm really pleased to be joining New Frontier at such an exciting time. They are extremely well regarded as having a unique model supported by great people and have already made a name for themselves within the travel and international health insurance market," indicated Mr. Upton. "We are thrilled to welcome Mr. Rob Upton to our team. His knowledge and experience in the International Insurance, Assistance and Cost-Containment sector will bring a powerful asset to our expanding executive team. In addition, Mr. Uptown will be increasing our ability to connect more closely with our global customers," said Gitte Bach, President and CEO. Mr. Upton will be focused on developing both new and existing client relationships as well as exploring new product and service propositions. Rob's vast professional experience makes him highly qualified to represent New Frontier Group while continuing to uphold the organizations expectations of being the best in the Cost Containment and Assistance sector. About New Frontier Group: New Frontier Group is the global leader as the first point of contact for worldwide International Insurance and Assistance Teams. New Frontier Group leads the travel industry's global healthcare management services by providing a business suite of customized assistance, full service solutions and cost savings for its worldwide clients. New Frontier Group is an independently owned U.S. based International Company, established in 2002. For more information about New Frontier Group, please contact by calling 949.429.7130 or email Gitte Bach at Bach@newfrontiergroup.com Related Links :http://www.newfrontiergroup.com
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Innovent Announces First Patient Dosed in a Phase III Clinical Trial of Anti-PD-1 Antibody Tyvyt® (Sintilimab injection) as First-line Treatment for P
SUZHOU, China, Jan. 17, 2019 /PRNewswire/ -- Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops and commercializes high quality medicines, announced today that the first patient has been dosed in a phase III clinical trial (ORIENT-16) that is to evaluate Tyvyt® (fully human anti-PD-1 therapeutic monoclonal antibody, generic name: sintilimab injection), in combination with capecitabine and oxaliplatin, as first-line treatment for patients with advanced, recurrent or metastatic gastric or gastroesophageal junction adenocarcinoma (GC or GEJ). The ORIENT-16 study is a randomized, double-blind, multi-center, phase III trial conducted in China to evaluate the efficacy and safety of Tyvyt® (sintilimab injection) or placebo in combination with chemotherapy as first-line treatment in subjects with unresectable, locally advanced, recurrent or metastatic GC or GEJ. The phase III study will enroll 650 patients. The study follows a phase Ib study that evaluated Tyvyt® (sintilimab injection) in combination with chemotherapy in patients with gastric cancer. "Over the past decade, the treatment of various malignant tumors has progressed rapidly. From traditional chemotherapy to targeted molecular therapy and immunotherapy, the prognosis of cancer patients has been improved remarkably. However, breakthroughs in the treatment of gastric cancer have been few. With the exception of trastuzumab in first-line use for HER-2 positive patients, several phase III clinical trials have failed successively. Based on the efficacy signals and the safety profile from previous trials, we hope to validate the therapeutic potential of sintilimab in combination with chemotherapy in ORIENT-16, a phase III trial," said Dr. Jianming Xu, a professor from the Chinese PLA General Hospital. "Gastric cancer is the second most common malignant tumor in China. The development of new agents for the treatment of advanced gastric cancer has been stagnant, and unmet clinical need is huge. Based on the encouraging efficacy signal we have observed in our phase Ib study, we have decided to conduct ORIENT-16, a phase III study in first-line gastric cancer. Our goal is to provide more effective cancer treatment options for the benefit of these patients and for their families," said Michael Yu, Founder, Chief Executive Officer and Chairman of Innovent. About Tyvyt® (sintilimab injection) Tyvyt® (sintilimab injection) is an innovative drug jointly developed by Innovent and Eli Lilly and Company in China. Tyvyt® (sintilimab injection) is a type of immunoglobulin G4 monoclonal antibody, which binds to the PD-1 molecule on the surface of T-cells, blocks the PD-L1（Programmed Cell Death-1 Ligand-1, PD-L1 pathway）and reactivates T-cells to kill cancer cells. Tyvyt® (sintilimab injection) is the only PD-1 antibody in China branded by both a local biopharmaceutical company and a global pharmaceutical company. About ORIENT-16 Study The ORIENT-16 study is a randomized, double-blind, multi-center, phase III trial which evaluates the efficacy and safety of Tyvyt® (sintilimab injection) or placebo in combination with chemotherapy as first-line treatment in subjects with unresectable, locally advanced, recurrent or metastatic GC or GEJ. Patients will receive Tyvyt® (sintilimab injection) or placebo in combination with capecitabine and oxaliplatin, followed by Tyvyt® (sintilimab injection) or placebo and capecitabine until disease progression. Participants will be randomly assigned in a 1:1 ratio into the experimental or control groups. The study will enroll 650 patients. The primary endpoints are overall survival in both the entire population and in PD-L1 positive population of patients. About Advanced, Recurrent or Metastatic Gastric Cancer (GC) Gastric cancer is one of the most common malignant tumors worldwide, ranking fifth in incidence and third in cancer-related deaths. More than half of the cases and deaths from gastric cancer occur in China. Many patients have advanced disease at the initial diagnosis and have little opportunity for therapy with curative intent. The prognosis of patients with advanced and metastatic gastric cancer is poor with an overall survival less than 12 months. About Innovent Innovent was established in 2011. Since it was founded, Innovent has developed a fully-integrated platform which includes R&D, CMC (Chemistry, Manufacturing, and Controls), clinical development and commercialization capabilities. These capabilities have enabled the company to build a robust pipeline of innovative and commercially promising monoclonal antibodies and other biologics in the fields of oncology, ophthalmology, autoimmune, and cardiovascular diseases. Leveraging the platform, the company has built up a pipeline of 20 innovative medicines in the last seven years, led by four core products that are in late-stage clinical development in China. Out of the pipeline of 20 innovative medicines, thirteen have entered into clinical development, four have entered Phase III clinical trials, one (biosimilar to Humira) has its New Drug Application (NDA) under review and Tyvyt® (sintilimab injection) is now approved for relapsed or refractory classical Hodgkin's lymphoma (r/r cHL). Innovent has built a biopharmaceutical production facility that operates under global standards. The design and operation of the clinical and commercial facilities are in compliance with the cGMP standards of NMPA, FDA and EMA. The existing production lines have already passed GMP audits by an international pharmaceutical company. The company has also entered into various key strategic alliances with Eli Lilly and Company, Adimab, Incyte, Hanmi and other biopharmaceutical companies. Inspired by the spirit of "Start with Integrity, Succeed through Action", Innovent's mission is to develop and commercialize high quality biopharmaceutical products that are affordable to ordinary people. Innovent wishes to work with all relevant parties helping the advancement of China's biopharmaceutical industry, improving the drug availability to ordinary people and enhancing the quality of the patients' life. Innovent is listed on the main board of the Hong Kong Stock Exchange with the stock code of HK 01801. For more information, please visit：www.innoventbio.com. About Innovent Biologics' strategic collaboration with Eli Lilly and Company Eli Lilly and Company (Lilly) and Innovent Biologics (Innovent) in March 2015 announced one of the largest biotech drug development collaborations in China to date between a multi-national and domestic company. Under the terms of the agreement, Lilly and Innovent shall collaborate on the development and potential commercialization of at least three cancer treatments over the next decade. In October 2015, they announced an expansion of their drug development collaboration. These collaborations represent that Innovent has struck one of the most comprehensive strategic collaborations of any Chinese company with a multinational partner in terms of the scope and breadth ranging from discovery to commercialization and involving up to six therapeutic antibodies for cancers. For inquiries, please contact: Tel: +86 512-6956-6088Email: ir@innoventbio.com
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Hanwha Q CELLS Announces Completion of Going-Private Transaction
SEOUL, South Korea, Jan. 17, 2019 /PRNewswire/ -- Hanwha Q CELLS Co., Ltd. ("Hanwha Q CELLS" or the "Company") (NASDAQ: HQCL), a global leading photovoltaic manufacturer of high-performance, high-quality solar modules, today announced the completion of its merger (the "Merger") with and into Hanwha Solar Holdings Co., Ltd. (the "Hanwha Solar"), a wholly-owned subsidiary of Hanwha Chemical Corporation incorporated in the Republic of Korea ("Hanwha Chemical"), pursuant to the plan of merger executed on October 15, 2018 by and between Hanwha Solar and the Company (the "Plan of Merger") and filed with the Registrar of the Companies of the Cayman Islands as of January 16, 2019. As a result of the Merger, the Company will cease to exist, and Hanwha Solar will continue as the surviving company (the "Surviving Company") as a wholly-owned subsidiary of Hanwha Chemical. Under the laws of the Cayman Islands, holders of the ordinary shares ("Ordinary Shares") or the American Depositary Shares of the Company ("ADSs") were not required to vote or direct the vote of such ordinary shares or ADSs, as applicable, with respect to the Merger, and will not be able to exercise any dissenters' rights under the laws of the Cayman Islands. Under the terms of the Plan of Merger, each Ordinary Share issued and outstanding immediately prior to the effective date of the Merger (the "Effective Date") has been cancelled in exchange for the right to receive $0.198 without interest, and because each ADS represents 50 Ordinary Shares, each outstanding ADS represents the right to receive $9.90 without interest (less $0.05 per ADS cancellation fees and a depositary service fee (DSF) of $0.02 per ADS, net of any applicable withholding taxes) (the "Merger Consideration"), except for Ordinary Shares owned by Hanwha Solar, which have been cancelled and cease to exist without payment of any consideration or distribution in respect thereof. Each shareholder of the Company as of the Effective Date who is entitled to the Merger Consideration will receive a letter of transmittal and instructions from the paying agent on how to surrender its share certificates (or affidavits and indemnities of loss in lieu of the share certificates) or non-certificated shares represented by book entry in exchange for the Merger Consideration. Each certificated shareholder will surrender its share certificate(s) upon receipt of the letter of transmittal and each uncertificated shareholder will receive an amount equal to the amount of the Merger Consideration to which such holder is entitled as soon as practicable after the Effective Date. As soon as practicable after receiving the aggregate Merger Consideration from the paying agent, The Bank of New York Mellon, as the depositary with respect to ADSs, will pay $ 9.90 per ADS without interest (less $0.05 per ADS cancellation fees and a depositary service fee (DSF) of $0.02 per ADS, net of any applicable withholding taxes) to the holders of ADSs. The Company also announced today that it has requested that trading of its ADSs on The Nasdaq Stock Market (the "NASDAQ") be suspended as soon as practicable by requesting the NASDAQ to file a notification on Form 25 with the Securities and Exchange Commission (the "SEC") to delist the ADSs. The Company then intends to terminate the registration of its registered securities and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by filing a Form 15 with the SEC. The Company's reporting obligations will be suspended immediately as of the filing of the Form 15. In connection with the Merger, Houlihan Lokey Capital, Inc. is serving as financial advisor to the Special Committee, Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal counsel to the Special Committee, and Conyers Dill & Pearman is serving as Cayman Islands legal counsel to the Special Committee. In connection with the Merger, Citigroup Global Markets Korea is serving as financial advisor to Hanwha Solar, Cleary Gottlieb Steen & Hamilton LLP is serving as U.S. legal counsel to Hanwha Solar, and Walkers is serving as Cayman Islands legal counsel to Hanwha Solar. About Hanwha Q CELLS Hanwha Q CELLS Co., Ltd. (NASDAQ: HQCL) is one of the world´s largest and most recognized photovoltaic manufacturers for its high-performance, high-quality solar cells and modules. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with its diverse international manufacturing facilities in Malaysia and China. Hanwha Q CELLS offers the full spectrum of photovoltaic products, applications and solutions, from modules to kits to systems to large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, the company provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. Hanwha Q CELLS is a flagship company of Hanwha Group, a FORTUNE Global 500 firm and a Top 10 business enterprise in South Korea. For more information, visit: http://www.hanwha-qcells.com. Safe Harbor Statement This report contains forward-looking statements that are not statements of historical fact. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements, particularly statements about our guidance for performance in the second quarter and the full year 2018, involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include pending administrative and civil actions in the United States under existing or potential new statutes and regulations governing trade between the United States and other countries, and potential antidumping, countervailing or other duties imposed on goods imported into the United States, as well as the Company's access to new capacity from an affiliate. Further information regarding these and other risks is included in Hanwha Q CELLS' filings with the Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, Hanwha Q CELLS does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. View original content:http://www.prnewswire.com/news-releases/hanwha-q-cells-announces-completion-of-going-private-transaction-300779275.htmlRelated Links :http://www.hanwha-qcells.com
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Mindtree Q3 Revenue Crosses Quarter Billion Dollar Mark in USD Terms, Revenue Grows 2.1% q-o-q / 17.4% y-o-y
BANGALORE, India and WARREN, New Jersey, Jan. 16, 2019 /PRNewswire/ -- Mindtree, a global technology services and Digital transformation company, announced its consolidated results today for the third quarter ended December 31, 2018 as approved by its board of directors. "Our consulting first approach combined with deep technology and domain expertise are helping our clients drive enterprise-wide transformations," Rostow Ravanan, CEO & Managing Director, Mindtree. "This has also helped us win several recognitions from industry analysts for our capabilities and sustain our growth momentum even in a seasonally weak quarter. Our continuous investments in our people further strengthens our ability to create sustainable value for all stakeholders." Key financial highlights: Quarter ended December 31, 2018 In USD: Revenue at $ 251.5 million (growth of 2.1% q-o-q / 17.4% y-o-y) Constant Currency growth of 2.4% q-o-q Net profit at $ 26.9 million (decline of 7.5% q-o-q / growth of 22.2% y-o-y) In INR: Revenue at ₹ 17,872 million (growth of 1.8% q-o-q / 29.7% y-o-y) Net profit at ₹ 1,912 million (decline of 7.3% q-o-q / growth of 35.1% y-o-y) Other highlights: Clients: 340 active clients as of December 31, 2018 $1 million clients grow by 5, total of 116 People: 19,908 Mindtree Minds as of December 31, 2018 Trailing 12 months attrition is 13.4% BOTs*: Automation is playing a significant role in modernizing our technology service delivery, enhancing both efficiency and speed-to-results for our clients. We are proud to report our BOTs strength that autonomously work along-side our Mindtree Minds, enabling our team to do more and accomplish larger goals. We have 518 BOTs employed as of December 31st, 2018 *Software that acts autonomously, free from any interference, human or otherwise, to perform a significant task which will otherwise be performed by a human Multi-year and multi-million dollar wins with leading global clients: Providing testing services under managed services model for a leading low cost Canadian airline Expanding its foot print within an existing customer, Mindtree to provide digital services for a large American airline Providing application management and support services for SAP suite of applications for a specialized manufacturing company in Europe Providing digital transformational services for a leading insurance company in the Middle East Recognition: Recognized as an IoT Technology Services Leader in the Zinnov Zones 2018 IoT Technology and Services report Recognized as a leader in Engineering R&D services in the Zinnov Zones 2018 ER&D Services report Recognized as Rising Star US and Global in the ISG Provider Lens™ Cloud Transformation/ Operation Services & XaaS Quadrant report Recognized as a Leader in the Zinnov Zones 2018 Digital Services in Travel & Hospitality report Announcements The board of directors at its meeting held on January 16, 2019 have recommended an interim dividend of 30% ( ₹ 3 per equity share of par value ₹ 10 each) During the quarter ended December 31, 2018, the National Company Law Tribunal (NCLT) approved the Scheme of Amalgamation ("the Scheme'') of Magnet 360, LLC ("Magnet"), wholly-owned subsidiary of the Company ("the Transferor Company"), with the Company with an appointed date of April 1, 2017. Refer Note 36 of the standalone financial statements for the period ended December 31, 2018 for details. About Mindtree Mindtree [NSE: MINDTREE] is a global IT consulting and services company which helps clients across 17 countries achieve business agility, competitive edge, and growth. We harness the power of Continuous Delivery, our digital expertise, industry knowledge, and research in emerging technologies to drive efficiencies and enable business innovation for over 340 clients. Mindtree is consistently regarded as one of the best places to work. This is a reflection of our entrepreneurial, collaborative and dedicated "Mindtree Minds" who embody the winning culture that defines our commitment to excellence, innovation, and co-creation. To learn more about us, visit http://www.mindtree.com or follow us @Mindtree_Ltd Mindtree Limited, Global Village, RVCE Post, Mysore Road, Bangalore-560059;CIN: L72200KA1999PLC025564; Phone: +91-80-6706-4000; Fax: +91-80-6706-4100; E-mail: info@mindtree.com / investors@mindtree.com; Website: http://www.mindtree.com Safe harbour Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf. Visit us at http://www.mindtree.com . For more information, contact:INDIASwetha GanesanMindtree Ltd+91-9789061981swetha.ganesan@mindtree.com UNITED STATESErik ArvidsonMatter Communications+1-978-518-4542earvidson@matternow.com EUROPESusie WyethHotwire+44(0)207-608-4657susie.wyeth@hotwireglobal.com
