Aspen Digital appoints Elliot Andrews as its new Chief Executive Officer
The U.S. to lose $150 billion due to the China-Brazil trade agreement: an OctaFX analysis
Assure (Singapore) Pte. Ltd. to Become a Direct Insurance Broker in Singapore from April 1, 2023
Another World-Class Landmark in Tainan, Taiwan
China Natural Resources Announces 5-to-1 Share Combination
SM Entertainment Holds 28th Annual General Meeting of Shareholders and the New Board Appoints Cheol-hyuk Jang as CEO
Leju Reports Second Half Year and Full Year 2022 Results
Boao Forum for Asia to carry forward multilateralism, promote cooperation
Shenwan Hongyuan Group Announces 2022 Annual Results
Heinz Cooks Up Saucy Solution to an Age-Old Problem with the Introduction of the Ketch-Up and Down Bottle
-
2023 Zhongshan Global Investment Promotion Conferences Opened with 75-Billion-Yuan Manufacturing Projects Established
ZHONGSHAN, China, March 31, 2023 /PRNewswire/ -- On March 30, 2023, the opening ceremony of the 2023 Zhongshan Global Investment Promotion Conferences and the 10th Top Talent Networking was held, resulting in an intended investment of more than 184 billion yuan. More than 500 people from all over the world, including outstanding entrepreneurs, high-level talents, joined the event at the main venue in Zhongshan and sub-venues set up in Hong Kong and Macao SARs at home, as well as in Malaysia. Against the backdrop of the increasingly unstable world economy, enterprises are optimistic about Zhongshan's development potential and confident in investing here. With the theme of "Invest in Zhongshan for a Win-win Future", Zhongshan has listed out 23 potential projects with detail information to attract global investment for the first time, aiming to attract more attention from domestic and foreign high-quality enterprises to Zhongshan. These projects cover key areas, including healthcare, medicine, smart home appliances, next-generation information technology, high-end equipment manufacturing, new energy, trade, and modern services. The number of Zhongshan's investment projects has reached 263. Out of the over 90 billion yuan of projects that have been signed, 75 billion is for manufacturing projects, accounting for about 83%. As an important junction in the Guangdong-Hong Kong-Macao Greater Bay Area, Zhongshan has attracted investment from enterprises in various industries with its superior location, strong industrial foundation, and ample industrial space. Liu Zhengyu, president of Shenzhen Intl Holdings Ltd., said that the company is optimistic about the development potential and prospects of Zhongshan and has listed Zhongshan as a prime hub city and strategic core location. The two parties will work together to build a Shenzhen-Zhongshan modern supply chain base in the Greater Bay Area, which is expected to bring about 500,000 square meters of industrial space for the city in the future. Zheng Guihui, president of ZDVC Group, mentioned that the company will establish a 10-billion-yuan project of new energy battery materials and ultra-clean and high-purity microelectronic materials, as well as a global production management headquarters in Zhongshan. Once the project is completed, it will be the world's largest production base in that specialized field. The hope is to build a global first-class microelectronics industry innovation center in Zhongshan in the future. Zhongshan is dedicated to building one of the best cities in terms of business environment with the fastest project approval process and the most efficient services. Kaneo Saito, general manager of Minebea AccessSolutions (Guangdong) Co., Ltd., thinks that Zhongshan is a famous historical and cultural city with an advantageous location and convenient transportation. The Zhongshan Municipal Government attaches great importance to the development of the real economy, encourages innovation and digital upgrading of enterprises, and helps them attract talents. Officials at all levels provide considerate services to enterprises and quick handling and response to their requests, all of which attract Minebea to settle in Zhongshan and continue to expand its investment and production. In addition, Zhongshan is accelerating the construction of high-level talent hub in the Greater Bay Area and making every effort to build a fertile ground for innovation and entrepreneurship for talents. "The fully furnished talent apartments, considerate incentive policies for talents, and the Top Talent Networking that has been held for 10 years make me feel the strong atmosphere of Zhongshan's recognition and respect for talents," commented Hu Mingxiu, senior vice president of Zhongshan Akeso Biopharma Inc. For the first time, this year's Zhongshan Global Investment Promotion Conferences included not only activities in the main venue but also many special investment promotion activities in towns and districts in accordance with their industrial characteristics. More than 14 industry chain investment promotion meetings on industrial design, intelligent manufacturing, bio-medicine, new energy, photoelectric information and modern services, as well as 12 talent networking activities, including a job fair for enterprises in Zhongshan's "10 New Industrial Clusters", a supply and demand meeting for high-skilled talents, and entrepreneurship and innovation activities for Hong Kong, Macao and Taiwan youth as well as overseas Chinese, will be carried out across the city.
-
Sftimo Exchange Takes Multiple Measures to Prevent Financial Fraud
SINGAPORE, March 31, 2023 /PRNewswire/ -- Recently, social media often see various kinds of information claiming that one famous blockchain wallet project is about to carry out token airdrop, with activity links attached. Many users believe this information and suddenly discover that their blockchain wallet assets have been transferred by hackers within a short period time after clicking on the link, resulting in heavy losses. Yes, in fact, there are no air drop plans for these projects, but criminals are spreading false information and stealing user assets through fake accounts, which is typical financial fraud. In today's world, financial fraud has become a serious problem. Financial fraud refers to the act of obtaining money or property through fraudulent means. Common fraudulent means include false investments, counterfeiting securities companies, counterfeiting banks, and so on. The cryptocurrency market is no exception. Due to the anonymity and irreversibility of cryptocurrency transactions, fraudsters often use these characteristics to engage in fraudulent activities. Sftimo Exchange, as a cryptocurrency exchange dedicated to protecting user assets, has taken multiple measures to prevent such financial fraud. First of all, Sftimo has a complete KYC mechanism and anti-money laundering procedures, follows strict authentication procedures, cooperates fully with regulatory and law enforcement agencies around the world, and establishes a sound compliance plan, including anti-money laundering principles and tools used by financial institutions to detect and handle suspicious activities, and tracks and monitors encrypted assets sent to and from their websites. Secondly, Sftimo Exchange adopts advanced security technologies, including multi-signature wallets, cold storage, and holding proof structures, to ensure the security of users' assets. In addition, Sftimo Exchange will regularly conduct security vulnerability detection and risk assessment to timely repair vulnerabilities and enhance security. Among them, the holding proof structure is a unique development method for Sftimo, which is continuously researched and optimized in platform services. The platform can rely on value, accumulate ecological resources and energy in a scientific and efficient way of management and operation, and export this energy to the entire industry. Finally, through enabled transaction applications, the entire ecosystem is rewarded, forming a development trend of circular empowerment and sustained growth. Finally, Sftimo Exchange attaches importance to user education and risk warning. The Exchange will provide relevant knowledge and risk tips on the cryptocurrency market to help users understand market risks and prevent fraud. In addition, the exchange will promptly notify users of suspicious activities and risk events, reminding users of risks and protecting their own assets. In order to ensure the security of customer assets, the core team of the Sftimo platform has gathered senior technical engineers, world-class risk control experts, other industry leaders, and hundreds of senior security personnel. Using the world's leading encryption technology, they have studied the latest hacker attack methods, continuously optimized and upgraded their technology, and are committed to providing safer and more stable digital asset investment transactions for global users. Sftimo is known by the market as the "most trusted partner" and conforms to the Hyperledger standard, which provides various frameworks, tools, standards, and guidelines for blockchain application development, enabling developers to build secure applications that optimize and enhance various industry processes, ensuring the security of funds and customer data. As an emerging cryptocurrency trading platform, Sftimo Exchange will continue to provide users with a secure and reliable trading environment, prevent financial fraud, and contribute to the development of the cryptocurrency market. Company: Sftimo Blockchain Markets LimitedContact Person: jeremy lauEmail: business@sftimobtc.comWebsite: https://www.sftimoinv.comCity: Singapore
-
Toys"R"Us Asia (Holding) Limited appoints Leo Tsoi as new CEO
KUALA LUMPUR, Malaysia, March 31, 2023 /PRNewswire/ -- The Board of Directors of Toys"R"Us Asia (Holding) Limited, ("Toys"R"Us Asia"), the leading retailer of toy and baby products in ten markets across Asia, today announced the appointment of Leo Tsoi to the role of Chief Executive Officer and member of the Board, effective April 1, 2023. Mr. Tsoi brings to the role more than 27 years of consumer retail experience and business leadership in large multi-national brands across Asia. Most recently, Leo served as Chief Executive Officer of Starbucks China where he also served as a member of the Starbucks Global Executive Leadership Team. Prior to that, Leo held a series of senior roles at Starbucks China including President of Retail, COO, CMO and VP of Store Development & Design, where he played a crucial role in the company's growth and transformation. Prior to joining Starbucks, Mr. Tsoi held senior positions in iconic international companies, Pepsico and Procter & Gamble, in Greater China. "Following an extensive global search, we're thrilled to welcome Leo Tsoi to Toys"R"Us Asia as our new CEO," said Drew M. Nuland, Chairman, Toys"R"Us Asia. "Over the course of his career, Leo has distinguished himself as a bold innovator and inspiring leader who has led rapid growth over a diverse range of product portfolios. He has a proven track record not only in operational efficiency, digital transformation and brand management, but also in engaging customers throughout the region." "I'm honoured to take on this leadership role with Toys"R"Us Asia, a dynamic and respected retail brand with a strong vision to fuel the imagination of children and inspire their development through play," said Leo Tsoi, incoming Chief Executive Officer of Toys"R"Us Asia. "I look forward to working with the dedicated teams in our markets to serve our communities across Asia through an elevated customer experience and with meaningful innovations to capture the tremendous growth opportunities ahead." Mr. Tsoi assumes the helm of Toys"R"Us Asia from Interim CEO Pieter Schats, who will remain a member of the Board. "As Toys"R"Us Asia continues to elevate the customer experience in-store and online and build more personalized relationships with kids and families, we're confident that Leo's proven leadership skills, extensive consumer knowledge and unwavering focus on people will enable our teams to accelerate growth throughout the region," added Mr. Nuland. About Toys"R"Us Asia (Holding) Limited For nearly 40 years, Toys"R"Us Asia has been the trusted destination for the best toys, games, sports equipment and learning supplies for kids and toddlers and everything new parents need for their babies. Headquartered in Hong Kong, Toys"R"Us Asia operates approximately 470 stores across Asia, including mainland China, Japan, Malaysia, Hong Kong, Singapore, Taiwan, Thailand and Brunei – and licenses more than 85 stores in the Philippines and Macau. The company also operates across leading Asian eCommerce platforms as well as its own online stores in each market (www.toysrus.com.my). Toys"R"Us and Babies"R"Us offer a carefully curated range of quality local and international brands, innovative and exclusive products, engaging loyalty programs and an interactive experience in-store and online that inspire learning at every stage of a child's development. Toys"R"Us Asia – Fueling Imagination Toys"R"Us Asia (Holding) Limited is an independent legal entity that operates separately from all other Toys"R"Us current or former operating companies around the world.
-
Toys"R"Us Asia (Holding) Limited appoints Leo Tsoi as new CEO
BANGKOK, March 31, 2023 /PRNewswire/ -- The Board of Directors of Toys"R"Us Asia (Holding) Limited, ("Toys"R"Us Asia"), the leading retailer of toy and baby products in ten markets across Asia, today announced the appointment of Leo Tsoi to the role of Chief Executive Officer and member of the Board, effective April 1, 2023. Mr. Tsoi brings to the role more than 27 years of consumer retail experience and business leadership in large multi-national brands across Asia. Most recently, Leo served as Chief Executive Officer of Starbucks China where he also served as a member of the Starbucks Global Executive Leadership Team. Prior to that, Leo held a series of senior roles at Starbucks China including President of Retail, COO, CMO and VP of Store Development & Design, where he played a crucial role in the company's growth and transformation. Prior to joining Starbucks, Mr. Tsoi held senior positions in iconic international companies, Pepsico and Procter & Gamble, in Greater China. "Following an extensive global search, we're thrilled to welcome Leo Tsoi to Toys"R"Us Asia as our new CEO," said Drew M. Nuland, Chairman, Toys"R"Us Asia. "Over the course of his career, Leo has distinguished himself as a bold innovator and inspiring leader who has led rapid growth over a diverse range of product portfolios. He has a proven track record not only in operational efficiency, digital transformation and brand management, but also in engaging customers throughout the region." "I'm honoured to take on this leadership role with Toys"R"Us Asia, a dynamic and respected retail brand with a strong vision to fuel the imagination of children and inspire their development through play," said Leo Tsoi, incoming Chief Executive Officer of Toys"R"Us Asia. "I look forward to working with the dedicated teams in our markets to serve our communities across Asia through an elevated customer experience and with meaningful innovations to capture the tremendous growth opportunities ahead." Mr. Tsoi assumes the helm of Toys"R"Us Asia from Interim CEO Pieter Schats, who will remain a member of the Board. "As Toys"R"Us Asia continues to elevate the customer experience in-store and online and build more personalized relationships with kids and families, we're confident that Leo's proven leadership skills, extensive consumer knowledge and unwavering focus on people will enable our teams to accelerate growth throughout the region," added Mr. Nuland. About Toys"R"Us Asia (Holding) Limited For nearly 40 years, Toys"R"Us Asia has been the trusted destination for the best toys, games, sports equipment and learning supplies for kids and toddlers and everything new parents need for their babies. Headquartered in Hong Kong, Toys"R"Us Asia operates approximately 470 stores across Asia, including mainland China, Japan, Malaysia, Hong Kong, Singapore, Taiwan, Thailand and Brunei – and licenses more than 85 stores in the Philippines and Macau. The company also operates across leading Asian eCommerce platforms as well as its own online stores in each market (www.toysrus.co.th). Toys"R"Us and Babies"R"Us offer a carefully curated range of quality local and international brands, innovative and exclusive products, engaging loyalty programs and an interactive experience in-store and online that inspire learning at every stage of a child's development. Toys"R"Us Asia – Fueling Imagination Toys"R"Us Asia (Holding) Limited is an independent legal entity that operates separately from all other Toys"R"Us current or former operating companies around the world.
-
DRC SIM AUSTRALIAN REAL ESTATE DEBT TRUST I ANNOUNCES OFFERING OF AUD 600,000,000 LOAN NOTE OFFER
SYDNEY, March 31, 2023 /PRNewswire/ -- Trimont REA AU Pty Limited in its capacity as trustee of DRC SIM Australian Real Estate Debt Trust I (the Issuer) is seeking to raise a total of AUD 600,000,000 in funds by the issue of loan notes, according to an announcement today by the Issuer. The issue comprises progressively drawn notes as detailed below. The following is a text of the announcement: Trimont REA AU Pty Limited in its capacity as trustee of DRC SIM Australian Real Estate Debt Trust I (the Issuer) has announced today that the Issuer is seeking to raise AUD 600,000,000 through an offer of a series of debentures (in the form of loan notes) for the purposes set out below. Savills Investment Management (Australia) Pty Limited (the Manager) has arranged for the establishment of DRC SIM Australian Real Estate Debt Trust I (the Trust) as its Australian sponsored real estate debt fund. The Manager will be the manager of the Trust and its assets. The Issuer proposes to issue up to AUD 600,000,000 of loan notes for subscription by investors (the Loan Notes). The offer is made to investors who are qualified as 'wholesale clients' as defined in the Corporations Act 2001 (Cth). This open letter constitutes an offer of the Loan Notes for the purposes of the 'public offer test' in section 128F(3)(d) of the Income Tax Assessment Act 1936 (Cth), for exemption from Australian interest withholding tax. Financiers and those in the business of dealing in debentures, or the buying and selling of loan notes or other debt interests and who are interested in subscribing for the Loan Notes will be required to give customary representations, warranties and information about their status, to assist the Issuer to demonstrate compliance with section 128F of the Income Tax Assessment Act (Cth). KEY FEATURES OF THE OFFER Issuer/Borrower Trimont REA AU Pty Limited in its capacity as trustee of the AUT Trust AUT Trust The trust constituted by the New South Wales law trust deed constituting the Australian unit trust known as 'DRC SIM Australian Real Estate Debt Trust I' Manager Savills Investment Management (Australia) Pty Limited The Offer An offer to subscribe for Loan Notes on the terms described in the transaction documents. The general terms of the transaction documents are set out in this Term Sheet. Security and Ranking First ranking general security agreement (all asset security in respect of the assets of the AUT Trust) from the Issuer. Purpose The Issuer will build a portfolio primarily comprising of senior and whole loan debt for the financing of commercial and residential real estate primarily in Australia (but opportunities in other territories in the APAC region (including New Zealand, but excluding mainland China) may also be considered), seeking to generate an enhanced return for the investors. Term 9 years, 360 days from first drawdown. However, the Issuer may voluntarily prepay at any time during the term. Type of Instrument The Manager expects that the Issuer will predominantly provide whole loans but may also originate high-yield debt with the intention to finance or syndicate a senior portion of the loan to generate returns consistent with the Issuer's investment objective as set by the Manager. Issue amount Loan notes of AUD600,000,000 Interest Rate It is anticipated that investors will earn returns of 6% per annum, net of all fees. The anticipated return is not guaranteed and will ultimately depend on the return (consisting primarily of fees and interests) the Issuer/Borrower makes from the portfolio of loans created by Issuer/Borrower in accordance with the underlying documentation. Fee The Issuer will pay (on behalf of the Lenders/Note Holders) a fee to the Manager. Such fee will be deducted from the relevant investor's interest due under the Loan/Notes. The fee in relation to any investor will be calculated in accordance with the following table. Investors' day one commitment Fee (per annum) Payable quarterly in arrears, once the Issuer is cash generative <100 million 100 bps <150 million 80 bps <200 million 60 bps <250 million 50 bps <350 million 40 bps ≥500 million 10 bps Trustee indemnity Each holder of the Loan Notes will grant an indemnity in favour of the Trustee. Transferability No transfer permitted unless assignee/transferee is approved by the Issuer in its absolute discretion. Governing Law New South Wales, Australia The Issuer reserves the right in its absolute discretion to vary the terms set out above and accept or reject any offer. This offer will expire on 18 April 2023. Restrictions in certain jurisdictions, including Australia The distribution of this announcement and the offering and sale of the Loan Notes in certain jurisdictions may be restricted by law. This open letter does not constitute an offer, invitation or solicitation to participate in the offer and be issued Loan Notes in any jurisdiction where, or to any person or entity to whom, it would be unlawful to make such an offer, invitation or solicitation. This message is not a prospectus or disclosure document and it has not been lodged with the Australian Securities & Investments Commission under Chapter 6D of the Corporations Act 2001 (Cth) (Corporations Act). The offer of Loan Notes is only available to domestic and foreign investors who are a 'wholesale client' as defined in the Corporations Act (Wholesale Client). By accepting the offer, an offeree represents that the offeree is a Wholesale Client. No Loan Notes will be issued or sold in circumstances that would require the giving of a disclosure document under Chapter 6D of the Corporations Act. This open letter has been prepared without taking account of your objectives, financial situation or needs and you should obtain independent professional financial advice that considers your circumstances before making any financial or investment decisions. There is no cooling off regime that applies in relation to the acquisition of any Loan Notes in Australia. The Loan Notes referred to in this open letter have not been nor will they be registered under the US Securities Act of 1933, as amended (Securities Act), or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. There will be no public offering of the Loan Notes referred to in this open letter in the United States. About the Manager The Manager is part of the Savills IM group. Savills IM is the investment management business of Savills PLC and is a leading real estate investment strategies manager with over 30 years of experience, with 280+ employees across 17 offices worldwide. Savills IM operates across the equity risk and return spectrum and has ca. EUR 26.9 billion of assets under management across its co-mingled funds, separate accounts and strategic partnerships. In May 2021, Savills IM completed its acquisition of 100% of DRC Savills Investment Management LLP ("DRC SIM"). At that time, DRC SIM became the CRE debt financing arm of Savills IM. As a consequence of the merger, Savills IM is able to take advantage of DRC SIM's expertise in the real estate debt market. Media Contact:agencytrustee@trimontrea.com
-
IMA Announces Strategic Partnership with LEC Graduate School of Accounting
Partnerships aim to inspire a new generation of leaders to advance the management accounting profession and U.S. CMA certification in Japan TOKYO, March 31, 2023 /PRNewswire/ -- IMA® (Institute of Management Accountants) and LEC Graduate School of Accounting have signed a Memorandum of Understanding (MoU) aimed at helping finance and accounting professionals develop the critical accounting and financial management skills needed for today's complex and everchanging business environment. The collaboration will enable LEC Graduate School of Accounting to offer the globally recognized U.S. CMA® (Certified Management Accountant) certification program to its students in Japan. The U.S. CMA certification is a highly relevant program aimed at bridging the skills gap for young professionals planning a career in finance and accounting. The program equips students with fundamental skills relevant for the future, including financial planning, analysis, control, decision support, and professional ethics. "IMA is excited to partner with LEC Graduate School of Accounting to support the development of finance and accounting professionals in Japan," said Dr. Josh Heniro, Managing Director of IMA Asia Pacific. "The U.S. CMA certification is highly regarded around the world as a valuable achievement that demonstrates mastery of critical accounting and financial management skills. We look forward to working with LEC Graduate School of Accounting to help students in Japan advance their careers and build a stronger future for the profession." "The partnership with IMA is an important milestone in LEC Graduate School of Accounting's efforts to provide high-quality finance and accounting education to our students," said Professor Kunihiro Yuki, CMA (U.S.), U.S. CPA, LEC Graduate School of Accounting. I heard of IMA in 2007 when I learned about management accounting from Professor Osamu Nishizawa at this graduate accounting school. Professor Nishizawa was the first IMA member in Japan and the first president of the IMA Tokyo Chapter. After graduating from this school, I obtained the U.S. CMA and U.S. CPA, and since 2013, I have been in charge of management accounting at this graduate school. With the MoU signed, I am planning to hold regular study sessions as an initiative to have current students and graduates of our LEC graduate accounting school understand the value of the U.S. CMA." The U.S. CMA certification is suitable for finance and accounting professionals at all levels - from young executives planning to advance their career, to experienced decision makers looking to improve their data analysis skills and obtain an advanced professional certification. The certification is designed to build the individual's technical management accounting skills and knowledge to enhance employability and ensure the development of a workforce that is prepared for roles and demands that are critical to professionals in today's economy. About IMA® (Institute of Management Accountants) IMA® 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 CMA® (Certified Management Accountant) and CSCA® (Certified in Strategy and Competitive Analysis) programs, continuing education, networking, and advocacy of the highest ethical business practices. Twice named Professional Body of the Year by The Accountant/International Accounting Bulletin, IMA has a global network of about 140,000 members in 150 countries and 350 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. About LEC Graduate School of Accounting LEC Graduate School of Accounting (LEC GSA) is the professional graduate school that was founded by TOKYO LEGAL MIND Co., Ltd in 2005. Since its opening, LEC GSA has focused on recurrent education for working adults and conducted education oriented toward the fusion of theory and practice. LEC GSA is constantly working on nurturing capable accounting professionals who possess sophisticated expertise, the capacity for thought, judgement and practice to a high degree with professional ethics. For more information about LEC GSA, please visit https://www.lec.ac.jp/.
-
Genscript Biotech Reports 2022 Annual Results*
Non-Cell Therapy Achieved 31.4% Adjusted Net Profit GrowthCell Therapy Business Revenue Surged By 70% Revenue of the Group for the year ended December 31, 2022 was approximately US$625.7 million, representing an increase of 27.7% as compared with approximately US$490.1 million for the year ended December 31, 2021. The external revenue for non-cell therapy business was approximately US$509.0 million, representing an increase of 19.8% as compared with approximately US$424.7 million for the year ended December 31, 2021.The external revenue for cell therapy business was approximately US$116.7 million, representing an increase of 78.4% as compared with approximately US$65.4 million for the year ended December 31, 2021. The adjusted net profit of non-cell therapy business before eliminations was approximately US$62.4 million, representing an increase of 31.4% as compared with approximately US$47.5 million for the year ended December 31, 2021, and the adjusted net loss of cell therapy business before eliminations was approximately US$422.1 million, whilst the adjusted net loss of cell therapy business was approximately US$372.4 million for the year ended December 31, 2021. NANJING, China, March 31, 2023 /PRNewswire/ -- GenScript Biotech, the world's leading biotech company, today announces its annual results as of December 31, 2022. In times of macroeconomic challenges, GenScript Group continued to deliver strong growth in 2022. "The Group has maintained growth momentum across the business portfolio under long-term strategy. Benefiting from our insights into the industry and continuous investment in R&D and production processes, our life science business saw steady growth by offering diversified life science services and products. This has positioned us as a reliable life science partner for customers. In biologics CDMO business, our antibody and protein CDMO and GCT CDMO services continued rapid growth. Our proven one-stop solutions helped ProBio drive significant share gain. Our industrial enzyme business reported improved profitability, driven by enhanced R&D and sales capabilities. Also, we are exploring new opportunities in the synthetic biology field. In cell therapy business, Legend Biotech, along with its partner Janssen, has successfully commercialized CARVYKTI. We are also moving forward on other pipelines," said Ms. Sherry Shao, Rotating CEO of GenScript. Ms. Shao added, "Our success is enabled by customer trust, our global high-caliber team, and support from our investors. I would like to express my heartfelt gratitude again. We are confident that we will deliver on our commitment to "make people and nature healthier through biotechnology." Results Analysis of the Four Business Segments For the year ended December 31, 2022 Life-science services and products Biologics development services Industrial synthetic biology products Cell therapy US$'000 US$'000 US$'000 US$'000 Revenue 360,540 125,009 38,664 117,005 Adjusted gross profit 201,120 42,857 16,609 53,038 Adjusted selling and distribution expenses 51,414 13,898 3,559 89,796 Adjusted administrative expenses 43,382 22,847 5,437 68,700 Adjusted research and development expenses 40,214 7,260 4,755 316,637 Adjusted operating profit/(loss) 66,110 (1,148) 2,858 (422,095) As the Group has reallocated back office administrative expenses into each business segment following the establishment of Probio legal entities in the second half of 2021, segment operating profit is not directly comparable to the same period in 2021. The adjusted expenses exclude the impact from (i) share-based compensation expenses, (ii) consultation and other related costs for the Investigation, and (iii) service fees and other costs for equity financing activities. Life-science services and products During the Reporting Period, revenue from life-science services and products was approximately US$360.5 million, representing an increase of 14.2% as compared with approximately US$315.8 million for the year ended December 31, 2021. The adjusted gross profit was approximately US$201.1 million, representing an increase of 8.0% as compared with approximately US$186.2 million for the year ended December 31, 2021. The adjusted gross profit margin decreased slightly from 59.0% for the same period in 2021 to 55.8% this Reporting Period. The adjusted operating profit of life-science services and products was approximately US$66.1 million. The increase in revenue was driven by a combination of (i) the increased demand in each of the segment's principal businesses with particular strength in molecular biology, protein and antibody business, and (ii) the successful commercialization of innovative platforms such as sgRNA, and was partially offset by the decreased demand for testing to diagnose COVID-19. The decrease in adjusted gross profit margin was primarily attributable to the (i) increment in labor, overhead and facility cost related to overseas site operation, (ii) increased freight and duty costs, and (iii) changes in product portfolio strategy. The adjusted operating profit was positively impacted from operational efficiency, while negatively impacted by increased research and development efforts focused on the enhancement to existing services and development of new products. Biologics development services During the Reporting Period, revenue from biologics development services was approximately US$125.0 million, representing an increase of 53.6% as compared with approximately US$81.4 million for the year ended December 31, 2021. The backlog increased to US$233.3 million as at December 31, 2022, with a growth at 18.2%. The adjusted gross profit was approximately US$42.8 million, representing an increase of 54.5% as compared with approximately US$27.7 million for the year ended December 31, 2021. Adjusted gross profit margin kept stable in the two years. The adjusted operating loss of biologics development services was approximately US$1.1 million. The growth of revenue and adjusted gross profit was mainly attributable to the (i) increase in the number of projects from protein and antibody drug development, and plasmid, (ii) expanded capacity and increased capacity utilization rate in process development and manufacturing, and (iii) continuously shortened delivery timeline. Industrial synthetic biology products During the Reporting Period, revenue from industrial synthetic biology products was approximately US$38.7 million. The adjusted gross profit was approximately US$16.6 million, representing an increase of 46.9% as compared with approximately US$11.3 million for the year ended December 31, 2021. Adjusted gross profit margin increased from 29.3% for the same period in 2021 to 42.9% this Reporting Period. The adjusted operating profit of industrial synthetic biology products was approximately US$2.9 million whilst it just arrived operating break-even for the same period in 2021. The increase in both adjusted gross profit and adjusted operating profit was primarily attributable to the (i) adjustment of product portfolio and enhancement of the promotion of high-margin products, together with active pruning of low or negative profit products, (ii) upgrade of the workflow and improvement of production process, and (iii) profit from the license of certain patents. Cell therapy During the Reporting Period, revenue from cell therapy segment was approximately US$117.0 million, representing an increase of 70.0% compared to approximately US$68.8 million for the year ended December 31, 2021. The increase in revenue was primarily attributed to the collaboration revenue involving the commercial launch of CARVYKTI in the U.S.. On February 28, 2022 the FDA approved CARVYKTI for adults with relapsed or refractory patients with MM who have received four or more prior lines of therapy. CARVYKTI has received conditional marketing authorizations from European Commission in May 2022 and approval from Japan's Ministry of Health, Labour and Welfare for the treatment of adults with relapsed or refractory multiple myeloma limited to cases meeting certain conditions on September 26, 2022. During the Reporting Period, the operating loss of approximately US$458.1 million whilst the operating loss for the same period in 2021 was approximately US$394.0 million. The continued investment in research and development costs of approximately US$335.6 million during the Reporting Period compared to approximately US$313.3 million for the same period in 2021 is the primary driver of the operational expenditures as Legend focused on investment in early lines of therapy for cita-cel as well as progressing Legend's pipeline. Additionally, incurred approximately US$93.4 million in selling and distribution expenses and approximately US$80.6 million in administrative expenses during the Reporting Period compared to approximately US$102.5 million and approximately US$47.0 million, respectively, for the same period in 2021. Also, incurred approximately US$65.4 million during the Reporting Period towards cost of collaboration revenue to support the commercial supply of CARVYKTI. FINANCIAL REVIEW 2022 2021 Change US$'000 US$'000 US$'000 Revenue 625,698 490,096 135,602 Gross profit 304,083 282,518 21,565 Loss after income tax (427,971) (518,327) 90,356 Adjusted net loss (359,416) (327,826) (31,590) Loss attributable to owners of the Company (226,851) (358,712) 131,861 Adjusted net loss attributable to owners of the Company (167,786) (181,007) 13,221 Loss per share (US cent per share) (10.82) (17.67) 6.85 Revenue In 2022, the Group recorded revenue of approximately US$625.7 million, representing an increase of 27.7% from approximately US$490.1 million in 2021. This was primarily attributable to (i) the stable market share growth and brand awareness of non-cell therapy business with new competitive services and products, especially in biologics development services, and (ii) the product sales of CARVYKTI after the commercialization approval from the FDA. Gross Profit In 2022, the Group's gross profit increased by 7.6% to approximately US$304.1 million from approximately US$282.5 million in 2021. The increase in gross profit was primarily attributable to the expansion of the revenue, and was partially offset by (i) the increased share-based compensation expenses in production teams, particularly in biologics development services, (ii) the adjustment of product and service portfolio, and (iii) the increased shipping cost. The adjusted gross profit increased by 10.1% over the same period in 2021. Selling and distribution expenses The selling and distribution expenses was approximately US$168.3 million in 2022, roughly unchanged over the same period in 2021. Administrative expenses The administrative expenses increased by 35.7% to approximately US$182.5 million in 2022 from approximately US$134.5 million in 2021. This was mainly caused by (i) the increased investment on talent with recruiting experienced personnel with competitive package and share-based compensation expenses for all business segments, (ii) the reinforcement of some key administrative functions and information technology infrastructure to support the Group's overall business, and (iii) the enhanced corporate governance and compliance measures. The adjusted administrative expenses increased by 34.1% over the same period in 2021. Research and development expenses The research and development expenses increased by 8.8% to approximately US$390.1 million in 2022 from approximately US$358.4 million in 2021. This was mainly due to the continued investment in talents with competitive package and share-based compensation expenses. The adjusted research and development expenses increased by 7.2% over the same period in 2021. *For reference only. Please refer to Company's 2022 Annual Results Announcement dated March 31, 2023 for more details.
-
We are Literally Sleeping on a Petri Dish
Mattress Testing by 10:PM Reveals Ultra Ick Findings SYDNEY, March 30, 2023 /PRNewswire/ -- 30% of the weight of a mattress is made of dried epidermis particles, from your skin and that of anyone else who has ever been on your bed. This is just one finding from new eco Aussie mattress brand, 10:PM who tested some of the 1.8 million mattresses that are illegally dumped on our streets every year. In a quest to showcase what Aussies are sleeping on and to encourage people to change their mattress more regularly, Harrison Reid, well known Bondi Lifeguard and founder of 10:PM, engaged building biologists to scour Sydney streets and test a bunch of dumped mattresses. The findings reveal that many of us are literally sleeping on a petri dish every night – some of us sleeping ourselves sick, without even realising it. This will make your skin crawl… We spend around 26 years on our mattresses and shed around 200 millilitres of water and one teaspoon of skin every night. That's around 2,000 litres of liquid and 200 cups of skin heading straight into our mattresses over our lifetime – from just one person! Further to that, given dust mites feed off skin cells (and even semen), it shouldn't surprise you that there are around 12 million dust mites in the average mattress. When you consider the skin cells and dust mites, semen, urine, blood and mould and you might start to look at your comfy bed a little differently. The result is clear – change your mattress you filthy animals! "The beds we tested, we're guessing from the filth found on them, that they'd be well over 10 years old," says Reid. "We should be replacing our mattresses a lot sooner, around every 7 years, 10 at worst. We wanted to show people exactly what they're sleeping on to encourage them to think about ditching that mattress they got handed down from Mum and Dad or have had since their uni days. We found some pretty gross things on the mattresses we tested." And Reid would know, having grown up around the mattress business of his parents in New Zealand. "Through various tests, including surface mould samples, UV light fluid tests, and dust mite and debris extraction tests, we found millions of dust mites, urine, semen, blood and mould," says Nicole Bijlsma, Building Biologist and founder of Australian College of Environmental Studies. "These can cause health issues ranging from itchy and watery eyes, sneezing, itchy, runny or blocked nose, dry persistent cough, wheezing and eczema. Symptoms are likely to be worse at night and upon waking, and generally improve when away from the source." "It's important people know the potential health implications that sleeping on an old mattress can perpetuate. All the mattresses we tested were way past their use by date." According to Carol Parr, Building Biologist, in severe cases, mould and allergens in mattresses can result in trouble sleeping, leading to brain fog and even effects on cognitive function. Reid says that the findings reveal the shocking truth around mattress quality. "People change their bedding but forget to change their mattress. It's a bit of a case of out of sight, out of mind and given we literally can't see the germs and allergens on our mattress, we tend to not even think about it." What's more, it seems that those of us diligent in making our bed every day, may be doing ourselves a disservice. "Mattresses need to be aired. When we make them every day, we're actually increasing the likelihood of capturing moisture, which leads to mould and bacteria growth, and dust mites," says Reid. Passionate about showcasing what lurks beneath the sheets, 10:PM used these dumped mattresses as billboards to humourously tap into Sydney suburb stereotypes to create buzz and start the conversation around mattress health. In dog-centric areas, they've reminded pet owners their mattress is dog-eared, dog-clawed, dog-gnawed, dog-drooled and dog-flea-infested. In family friendly Randwick, the mattress unveils a tapestry of parental defeat with a wee-soaked bed and in Bondi, they've let backpackers know that there's been a very sunburnt Englishmen on that bunk bed before them! The Darlinghurst set, post World Pride, have been warned that after her 10th Mardi Gras, their Queen has come out on bottom. "Using these dumped mattresses to test and then as billboards, has been such a fantastic way to not only talk seriously about the importance of mattress care and health but it's also given us a platform to speak to Sydneysiders in a way that's funny but very relatable," says Reid. "At the end of the day, if we can get people thinking about how old their mattress is and what they might be sleeping on, then that's a really positive thing." You can read the full Billbeds here. These findings are exactly why Reid started 10:PM - to give Aussies access to mattresses which are Australian made, sustainable, affordable, family owned, extremely comfortable and with health and wellness front of mind. With a 40-year family legacy in the mattress business, 10:PM is in Harrison's DNA, having watched his dad, Kevin in the NZ mattress business for decades, and now bringing their combined knowledge to 10:PM, created for Australians. Each 10:PM mattress is antimicrobial treated to prevent microbe growth, reduce odour, improve hygiene and product longevity and approved by Sensitive Choice so those with asthma and allergies can rest easy. With sustainability also at its core, Tencel is used which is produced by environmentally responsible processes and 10:PM mattress and pillow foam has been assessed to meet environmental, human health and social impact, while also proving that it performs as promised. Australian made for Australians is what 10:PM lives, breathes and sleeps. Everything is made right here in Australia with Aussie comfort front of mind. While affordability is important, but also temperature management, with its 10:02 and 10:03 mattresses having Thermobalance technology, which disperses heat and hot spots from you mattress when you sleep. No other mattress in a box brand has this technology. 10:PM's mattresses come in three models, the 10:01, 10:02, and 10:03, and in single, double, queen, and king sizes starting at $649 for a single. Accessories including mattress protectors and pillows start at $169. 10:PM is available for delivery to Sydney metro only. Delivery Australia wide is coming soon. To find out more, head to https://10pm.com.au and @10pmsleep. Available for Interview: Harrison Reid Nicole Biljsma High-res images of 10:PM mattress testing, 10:PM Billbeds and products can be found here.
-
Northern Trust Enhances Digital Workflow Experience for Private Capital Fund Managers
Collaboration with Appian will Digitise Events Across the NAV Production Lifecycle SYDNEY, March 31, 2023 /PRNewswire/ -- Northern Trust (Nasdaq: NTRS) is enhancing the net asset value (NAV) workflow communications between private capital fund managers and Northern Trust through a collaboration with Appian (Nasdaq: APPN), a leading provider of low-code process automation solutions. The solution is aimed at supporting private capital fund managers with a secure digital experience offering enhanced efficiency, oversight and data security across the NAV production lifecycle. Stephen Thomas, head of finance at Coller Capital, said: "As one of the world's leading investors in secondary assets for private funds, we are committed to leveraging new technologies to enhance our operational processes. The deployment of this solution through our fund administrator, Northern Trust, will provide our Funds with increased levels of transparency, efficiency and security." Clive Bellows, head of Global Fund Services, Europe Middle East and Africa, at Northern Trust, said: "Private capital fund managers are seeking a digitised experience, with greater security of information and oversight. This solution supports them in the creation, review and approval of information supporting the NAV production lifecycle. Utilising the Appian platform will further enhance interactions with our specialist teams and provide real-time oversight." The digital portal, powered by Appian, provides a single point of access for private capital fund managers to communicate instructions, review documents and provide approvals across the NAV process. Northern Trust has designed the workflows to reduce the dependency on email communications and support the delivery of sensitive documents, thereby increasing transparency and efficiency of the process. Michael Heffner, vice president of Solutions and Industry Go to Market at Appian, said: "As private capital fund managers look to scale efficiently, they need full transparency into the work and communications being performed by their administrators. Through our collaboration with Northern Trust, we have jointly designed a solution to allow them to support their private capital fund managers through the efficient exchange of information and documents while mitigating data privacy risk by reducing email communications." The development forms part of a wider alternative digital transformation plan under Northern Trust Whole Office™, a strategy that facilitates client access to services, solutions, and new technologies across the investment lifecycle. Northern Trust's private capital fund services business provides a range of solutions for asset managers including fund administration, global custody, depositary, and banking. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 25 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2022, Northern Trust had assets under custody/administration of US$13.6 trillion, and assets under management of US$1.2 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn. Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions. About Appian Appian is a software company that automates business processes. The Appian Platform includes everything you need to design, automate, and optimise even the most complex processes, from start to finish. The world's most innovative organisations trust Appian to improve their workflows, unify data, and optimise operations - resulting in better growth and superior customer experiences. For more information, visit www.appian.com. [Nasdaq: APPN] Follow Appian: Twitter, LinkedIn.
-
Optimize the revenue structure, and Tian Lun Gas (01600. HK)'s core profit will increase by more than 50% in 2H2022
ZHENGZHOU, China, March 30, 2023 /PRNewswire/ -- Tian Lun Gas (01600) released its annual performance announcement for 2022. During the reporting period, the company's operating data showed excellent performance, its revenue structure continued to be optimized, and its gas sales volume and value-added business proportion continued to increase. The proportion of gas sales revenue increased to 76%, with retail gas sales revenue increasing by 11 percentage points to 65%. due to the adoption of differentiated gas sales marketing strategies. The proportion of value-added services also increased to 5%. Compared to the operating results in 1H2022, Tian Lun Gas' profitability recovered rapidly in the second half of the year, with core profit up 52% compared to the first half. Operating revenue for the year was essentially flat compared to the same period last year, with gas sales revenue as well as value-added business continuing to grow steadily, with residential gas sales increasing by 17.0% year-on-year and the gross difference having recovered to the same period in 2021. in 2022, diversified marketing strategies were carried out to provide diversified product services, with value-added business revenue increasing by 24.1% to RMB333 million. in terms of connection business, the Group continued to add industrial and commercial subscribers, the number of newly developed industrial and commercial subscribers maintained growth, up 6.3% year-on-year In addition, the Board of Directors of Tian Lun Gas recommends maintaining a solid dividend payout ratio with a final dividend of RMB11.00 cents per share, corresponding to 30.0% of the core earnings payout.
-
"Tiexi Day" In Germany and China-Germany (Shenyang) High-end Equipment Manufacturing Industrial Park Industry Cooperation Exchange Conference Successf
SHENYANG, China, March 30, 2023 /PRNewswire/ -- "Tiexi Day" In Germany and China-Germany (Shenyang) High-end Equipment Manufacturing Industrial Park Industry Cooperation Exchange Conference was held to great success in Munich, the capital of the state of Bavaria. Participants engaged in dialogues about industrial cooperation between China and Germany, and exchanged ideas about the future of China-Germany development. "Tiexi Day" In Germany and China-Germany (Shenyang) High-end Equipment Manufacturing Industrial Park Industry Cooperation Exchange Conference was successfully held in Munich. Revolving around the theme of "Meet China and Germany, Foresee the Future," the event was attended by more than a hundred participants, including representatives from German and Chinese enterprises such as BMW and LiangDao, and government organs and related research institutions of both Munich and Shenyang. Contract-signing ceremony was hosted on the same day for 11 projects such as the China-Europe Digital Alliance digitization, renovation and improvement project, Kaytrip culture and tourism cooperation project, and Kemether and Automation W+R GmbH strategic cooperation project, according to the Information Office of Shenyang Municipality. During the event, leaders from relevant Shenyang government bodies introduced the city's ideal investment environment and optimal industrial park policies, sincerely encouraged German enterprises to invest in Shenyang, and promised to provide "service support for each and every single enterprise". Chinese participants also introduced the China-Germany (Shenyang) High-end Equipment Manufacturing Industrial Park, which focuses on the development of the five major areas of intelligent equipment, high-end equipment, automotive manufacturing, industrial service and strategic emerging industry, and at present already hosts more than 470 enterprises, including over 80 German enterprises. In 2022, the industry park recorded an output of RMB 86.4 billion from its above-industry-designated-scale enterprises, while completing RMB 19.5 billion in fixed asset investment. Germany is China's largest E.U. trade partner, and according to the latest data from the German Federal Statistical Office, in 2022 bilateral trade between Germany and China reached EUR 297.9 billion, with China being Germany's most important trade partner for the 7th straight year. Image Attachments Links: Link: http://asianetnews.net/view-attachment?attach-id=439407
-
Fosun International's total revenue in 2022 amounted to RMB175.39 Billion, up 8.7% Year-on-year
HONG KONG, March 30, 2023 /PRNewswire/ -- Fosun International Limited (HKEX stock code: 00656, "Fosun International"), together with its subsidiaries ("Fosun" or the "Group"), today announced its annual results for the year ended 31 December 2022 (the "Reporting Period"). In 2022, the increasingly sophisticated macro environment, the US dollar interest rate hikes, and geopolitical tensions continued to disrupt the economy. Fosun firmly implemented a focused strategy, continued to lay the solid foundation for its development, and achieved steady development in its core businesses. During the Reporting Period, the Group achieved a total revenue of RMB175.39 billion, representing a year-on-year increase of 8.7%. Focusing on the needs of global families in health, happiness, and wealth, the four core subsidiaries, namely Yuyuan, Fosun Pharma, Fosun Insurance Portugal, and Fosun Tourism Group (FTG) continued to enhance their products and services, accounting for 72% of the Group's total revenue. Among them, FTG's revenue increased significantly by 49% to RMB13.78 billion. Due to the recurrent outbreak of COVID-19 pandemic in 2022 and the turmoil and downturn of the international capital markets, resulting in high business costs and an increase in floating losses in secondary capital market investment, the Group's overall industry operations and industrial investment have been affected to varying degrees. During the Reporting Period, the net profit attributable to owners of the parent amounted to RMB0.54 billion. During the Reporting Period, Fosun continued to optimize its capital and asset structure by actively managing its debt to effectively cope with violent fluctuations in the capital market and maintain resilient liquidity. As of the end of the Reporting Period, cash and bank balances and time deposits were abundant, amounting to RMB100.56 billion; the ratio of total debt to total capital was 53.2%, and down 3.6 percentage points compared to mid-2022; the average cost of debt was at a low level of 4.7%; the adjusted NAV was HK$21.6 per share. It is worth mentioning that in January 2023, the Group entered into a syndicated loan agreement for an amount of RMB12 billion with eight domestic banks, which was the largest private corporate syndicated loan led by five major state-owned banks in cooperation with policy banks and joint-stock banks since the announcement of "encouraging and supporting the development of the private economy and private enterprises" at the Central Economic Working Conference held in December 2022. In 2022, Fosun's global operations capability was further enhanced, with overseas revenue amounting to RMB77.4 billion, representing a year-on-year increase of 14% and accounting for 44% of the total revenue. As of the end of the Reporting Period, Fosun had 43 overseas brand enterprises and more than 45,000 overseas employees. The Group's R&D investment reached RMB10.4 billion, representing a year-on-year increase of 17%; as of the end of 2022, Fosun had 1,771 patents for inventions. The synergy capability of Fosun's FC2M global ecosystem was further enhanced, highlighting the multiplier effect of the ecosystem. During the Reporting Period, the Group's ecosystem has created a total value of more than RMB6.9 billion, and has 133 products that generated more than RMB100 million sales for each, and among them 22 were new products; 50.8 million new registered members during the year, representing a year-on-year increase of 27%. Among them, the two top C-end platforms continued to facilitate the rapid and high-quality growth of members. During the Reporting Period, Fosun Health acquired 9.24 million registered users, bringing the cumulative number of registered members to 22.58 million. As of the end of the Reporting Period, Fosun Alliance has accumulated 6.4 million registered members. Since the beginning of 2023, businesses in consumer and tourism sectors have shown a strong upward trend. In 2023, the Yuyuan Garden Lantern Festival which received wide recognition in Chinese mainland and overseas became the talk of the town and attracted more than 4 million visits, effectively driving consumption in the area. Fosun's tourism business has rebounded rapidly, Atlantis Sanya, a subsidiary of FTG, its business has fully recovered and surpassed the level before the pandemic, recorded a business volume of RMB399 million in the first two months of 2023, representing an increase of 10% compared to the same period of 2022, the average occupancy rate by room reached 96%. The business volume of Club Med and Lijiang FOLIDAY Town increased by 55% and 149% respectively compared to the same period in 2022. Guo Guangchang, Chairman of Fosun International, said: "Fosun firmly promoted the strategy of focusing on its core businesses, made clear the positioning of "a global innovation-driven consumer group" and the mission of "serving one billion families worldwide". In the future, we will continue to strengthen innovation, deepen global operations, and refine more good products and services. With our endeavors, we hope to create happier lives for families."
-
Huawei and bKash Strengthen Partnership to Deepen Financial Inclusion in Bangladesh to Support the SDGs
DHAKA, Bangladesh, March 30, 2023 /PRNewswire/ -- Huawei and bKash agreed to deepen partnership in Bangladesh, to further drive financial inclusion and enable more people to participate in and benefit from digital economy in the country. bKash, Bangladesh's largest mobile payment operator, provides mobile financial services to 68 million people, caters to every family in Bangladesh. Huawei powers bKash's services with its cutting-edge digital finance solutions. Representatives from Huawei Bangladesh and bKash are signing the MOU. To take the journey forward, Pan Junfeng, President, Huawei South Asia Region & CEO, Huawei Bangladesh and Kamal Quadir, Founder and CEO of bKash have signed an MoU at Huawei Bangladesh Academy on Wednesday, 29th March 2023 in Dhaka. Speaking at the MoU signing ceremony titled "Smart Fintech: Inclusive. Innovative. Inspiring Bangladesh", Kamal Quadir, Founder and CEO of bKash highlighted the significance of the partnership. "Financial inclusion and inclusive services have been part of bKash's DNA since its inception in 2011. At the advent of the fourth industrial revolution, we are working tirelessly towards a digital financial ecosystem and becoming a Smart Nation. The joint effort of bKash and Huawei aims at driving financial inclusion and eliminating poverty for SDGs with innovative solutions," said Kamal. Since development of the current FinTech products, Huawei has deployed its platform across more than 30 markets in Asia and Africa. In total, Huawei's FinTech solutions are being used by over 400 million people worldwide. Pan Junfeng, President, Huawei South Asia Region & CEO, Huawei Bangladesh said that the strengthened partnership between Huawei and bKash in Bangladesh aims to drive digital inclusion in the country. "Since 2017, Huawei has been working closely with bKash in digitalizing its MFS with the leading Mobile Money platform. The platform offers services such as e-wallet and Nano-loan, bringing financial inclusion and innovation to local communities. Moving forward, we will continue to deepen our partnership to empower and enable more people in Bangladesh to seize the benefits of the digital economy for development. And I believe that our partnership will drive the growth of the digital economy in Bangladesh, setting a remarkable example to other EM countries in the region, when it comes to financial inclusion," said Pan. Speaking at the event Sarder M Asaduzzaman, Assistant Resident Representative of the United Nations Development Programme highlighted the contribution of MFS in the development and in achieving the target of SDGs, "This initiative: smart fintech bringing an inclusive, innovative, and inspiring Bangladesh carries heavy weight and insights. I believe both Huawei and bKash agree and are working on that. And their further partnership will reinforce the whole initiative." "SDG is the end goal, it is where we want to be in the 2030s. We are on the path and this Smart Fintech partnership is the vehicle that will drive us to get there." said Ms. Susan Vize, Officer-in-Charge of the United Nations Educational, Scientific and Cultural Organization (UNESCO) Dhaka Office.
-
Luxury Membership 5 Stars Medical Club Signs Agreement To Serve as Sponsor to ayumi hamasaki 25th Anniversary LIVE
The health facility to offer limited-edition digital content TOKYO, Japan, March 30, 2023 /PRNewswire/ -- 5 Stars Medical Club, a luxury membership medical club that owns and operates the Clinic 9ru cosmetic dermatology and The Prevention Clinic Tokyo VIP health screen clinics, both located on the 4th floor of The Peninsula Tokyo, a five-star hotel, inked an agreement to sponsor Ayumi Hamazaki's commemorable ayumi hamasaki 25th Anniversary LIVE. As part of the sponsorship, the medical club will soon start offering limited-edition digital content. https://9ruprevention.com/en/ ■CLINIC 9ru https://9ru.tokyo/ THE PREVENTION CLINIC TOKYO https://preventionclinic.tokyo/ The Sponsorship After her debut in 1998, Ayumi Hamasaki kept on going, building her career to this day without taking a moment to pause. In January of this year, she reached a new zenith with the release of her latest album Remember You, becoming the female artist with the greatest number of albums having entered the Top 10. The medical club, on seeing how the renowned singer's way of life captivates many and how she continues to shine through the years, decided to enter into a sponsorship arrangement. The medical club plans to start offering digital content prior to the ayumi hamasaki 25th Anniversary LIVE to be held on the 8th of April. https://9ruprevention.com/en/ Ayumi Hamasaki The Clinics 5 Stars Medical Club http://5stars.tokyo/ A luxury members-only medical club established in March 2021 5 Stars Medical Club is the owner and operator of CLINIC 9ru, a world-class cutting-edge anti-aging treatment and medical skin care facility, and THE PREVENTION CLINIC TOKYO, a next-generation health screening clinic that manages future risks by using state-of-the-art genetic testing technology. Both clinics are located on the 4th floor of The Peninsula Tokyo. 5 Stars Medical Club also participates in CARE, a Web3.0 medical data management project. https://www.wellnesscares.io/ THE PREVENTION CLINIC TOKYO https://preventionclinic.tokyo/ "Preventive health screening, a new approach to healthcare" Rather than detecting an illness once it is already well underway, this method detects the signs and cause of any illness at an early stage and works to eliminate it by providing lifestyle guidance and cell therapy. By doing so, patients will be able to choose among novel preventive treatments such as immune-cell therapy or blood purification therapy without enduring major surgery or painful treatments that would force them to sacrifice their social lives. The clinic is a luxury health screening facility with the most advanced equipment available today that makes services such as iPS cell banking possible. CLINIC 9ru https://9ru.tokyo/ "Treating the signs of aging in preparation for the future" The clinic owns world-leading cutting-edge laser equipment for the treatment and care of aging skin. The state-of-the-art equipment has proven highly effective in treating dark spots, pores and dull skin, and in removing unwanted hair. A members-only facility offers cutting-edge regenerative medicine in luxurious private rooms. Media Contacts CARE Project PR OfficeContact: Yamanouchiemail: info@wellnesscares.io
-
China Merchants Commercial REIT Reports RMB431.7 Million in Revenue and Distribution Yield of 13.1%
HONG KONG, March 30, 2023 /PRNewswire/ -- China Merchants Commercial Real Estate Investment Trust ("CMC REIT" or "the Trust", HKEX stock code:1503), announced its annual results for the year ended 31 December 2022. During the reporting period, total revenue of CMC REIT for the Reporting Year was RMB431.7 million, a decrease of RMB1.1 million over the revenue for 2021. This decrease in income was primarily due to the rental relief package aimed at tenants that are individuals or small enterprises provided to tenants. During the year, CMC REIT restructured its outstanding debt, using low-interest RMB loans to replace expiring HKD debts. This helped to avoid exchange risks resulting from currency mismatches and potential large exchange gains or losses. The final distribution per unit for the period is HK$0.1307, which represents an annual distribution yield of 7.0%. Together with the paid interim distribution per unit of HK$0.1307, the total distribution per unit for the Reporting Year amounted to HK$0.2614, equivalent to a distribution yield of 13.1%, based on the closing price of CMC REIT on 30 December 2022 (being HK$1.99). Total net borrowings of CMC REIT were RMB4,053 million, equivalent to a gearing ratio of 37.4%. This ratio is lower than the permitted limit of 50% as stipulated by the Code on Real Estate Investment Trusts (the "REIT Code"). Gross liabilities (excluding net assets attributable to unitholders) as a percentage of gross assets were 62.6% (2021 year end: 47.0%). CMC REIT has obtained a new secured offshore loan facility of up to HKD4,500 million maturing on 15 December 2025 and a new secured onshore loan facility of RMB100 million. As at 15 December 2022, CMC REIT had drawn down RMB4,022 million (equivalent to HKD4,445 million) from the new offshore loan facility and RMB31 million from the onshore facility to repay all its preexisting debt. The above loan rollover has replaced all HKD loans with RMB loans, eliminating the previous currency mismatch and its associated currency risk. In 2023, the Manager plan to further optimize the debt structure, by adjusting the maturity of our loans to diversify this maturity risk. At the same time, to reduce interest expense, we will explore new financing channels using cross-border RMB to capitalize on lower RMB interest rates. As at 31 December 2022, net assets attributable to Unitholders amounted to RMB3,659 million (31 December 2021: RMB4,007 million) or RMB3.24 per Unit, equivalent to HKD3.63 per Unit ("NAV per Unit") (31 December 2021: RMB3.55 per Unit, equivalent to HKD4.34) based on central parity rate as announced by the People's Bank on 30 December 2022. As the change in appraised value of our properties was marginally positive in 2022, the main cause for the decrease in NAV per Unit was the depreciation of the RMB against HKD. Business Performance Over the Reporting Year, the occupancy rate of the overall property portfolio decreased from 87.7% as at 31 December 2021 to 83.2% as at 31 December 2022. Three properties within the Shekou Net Valley have improved in terms of occupancy but not the remaining two properties. Disruption from the asset enhancement initiative at Garden City Shopping Centre has caused the occupancy rate there to collapse 18.3 percentage points to 72.2%, this is understandable. At the same time, New Times Plaza was affected by very weak demand for high-end office premises and its occupancy rate weakened by 7.9 percentage points to 84.0%. At the same time, Onward Science & Trade Centre's occupancy rate remain at 70%. As at 31 December 2022, the passing rent of our properties saw increases all around as compared to a year ago, with the exception of Cyberport Building. In particular, the passing rent at Technology Building improved by over RMB10.2/sq.m. due to its transition to a singletenant building. There was a spillover effect on Technology Building 2, which saw its passing rent increase by RMB4.0/sq.m. Three properties within the Shekou Net Valley Technology Building has been the bright spot of our portfolio ever since it secured Shenzhen Qianhai Shekou Free Trade Zone Hospital as its main tenant. It managed a 100% occupancy rate throughout 2022 and as Shenzhen Qianhai Shekou Free Trade Zone Hospital has continued to take over the leases of expiring tenants at higher rents, over 2022 Technology Building recorded an 8.5% increase in passing rent to RMB129.8/sq.m. Operations at Technology Building 2 and Cyberport Building also saw significant improvements in 2022. Although small and medium-sized firms have been heavily impacted by the ongoing epidemic, the main target tenants of Technology Building 2 and Cyberport Building, both buildings saw a significant increase in their occupancy rates. At Technology Building 2 the occupancy increased 9.3 percentage points to 90.5% while at Cyberport Building the occupancy increased 14.6 percentage points to 85.9%. The rental rates of Technology Building 2 increased by 3.4%. The Manager has established a healthy tenant cycle for our three properties in Net Valley and expect them to continue to outperform our other properties in 2023. New Times Plaza There was a marked fall in occupancy at New Times Plaza in the second half of 2022 from 92.3% to 84.0% as several leases were not renewed when they expired. In Shenzhen COVID-19 has severely weakened demand for high-end office buildings, and this coupled with the looming supply of new Grade A office space in adjacent areas has made it very challenging to retain expiring tenants or find replacement tenants for them. As the expiring rent rates of exiting tenants was relatively low, the passing rent at New Time Plaza actually increased to RMB184.4/sq.m., representing an increase of 2.8% from the end of 2021. As the asset enhancement initiatives for the lobby and common areas of New Times Plaza have essentially been completed, in 2023 the management will strive to rebuild occupancy through additional channels for sourcing tenants and the use of more flexible leasing terms. Garden City Shopping Centre In 2022 Garden City Shopping Centre saw a decrease in occupancy rate of 18.3 percentage points from 90.5% to 72.2%. This was mainly due to two factors: firstly, the reemergence of the epidemic in Shenzhen has had a great impact on retailers and many have opted to downsize or exit their businesses; and secondly, the commencement of the upgrading and renovation works for Garden City Shopping Centre, has also deterred some tenants from renewing their leases. The works are being carried out in three phases with each phase covering approximately one-third of the Mall's floor area. In addition the Manager have left some shops vacant with a view of introducing new tenants of higher quality upon completion of the renovation works. Onward Science & Trade Center A majority stake in Onward Science & Trade Center was acquired by CMC REIT on 30 June 2022. The property is located within the prosperous business district in Beijing. In order to cope with the escalating negative impact of COVID-19 in the second half of the year, the leasing team of the property mainly focused on maintaining stability, and minimizing any inconvenience to tenants. The occupancy rate as of 31 December 2022 declined marginally by 0.4 percentage point to 70.0% from that as of 30 June 2022, while the passing rent remained stable at RMB319.3/sq.m. The occupancy rate at Onward Science & Trade Center is expected to recover with the gradual recovery of the China economy in 2023. OUTLOOK Strong inflationary pressures globally continue to push interest rates higher. Despite a slowing in the rate at which the US interest rate have been increasing, high financing costs have become a headwind for corporate expansion. On the other hand, China eased its epidemic prevention and control policy in early 2023, bringing new impetus to the market. This is a promising development, but the economy will take time to recover and will remain relatively volatile in the short term. The commercial real estate market is in flux, with tenants in some emerging sectors, such as biopharmaceuticals, exhibiting increased demand for space, but also tenants in some sectors reducing their leased areas on renewal or even surrendering their leases. A large number of commercial projects were delayed in 2022 due to the epidemic, and this will cause a peaking of supply in 2023 increasing pressure on the leasing market. 2023 will pose significant challenges in terms of passing rent and occupancy rate for both office and retail assets. The Manager has been actively renovating and upgrading CMC REIT's properties to enhance their competitiveness in the new Metro Line 12 post-epidemic era. Asset enhancement initiatives at New Times Plaza, Technology Building 2 and Cyberport Building have been completed. Garden City Shopping Centre South has also completed its upgrade, and was officially reopened to the public on 15 January 2023. It is expected that the remainder of Garden City Shopping Centre will be fully upgraded by the end of year. The Manager is hopeful that the relaunch of a fully renovated Garden City Shopping Centre under a brand-new image will add value for CMC REIT. Mr. HUANG Junlong, Chairman and Non-executive Director of CMC REIT, said, "We believe that China's first-tier cities will continue to attract talent and migrants from neighboring cities and become even bigger centers of regional economic activity and consumption. This will continue to support the demand for space of our properties in Shenzhen and Beijing in the long run. The Manager will closely monitor market conditions and adjust its operating strategies flexibly to help its properties generate high-quality returns for CMC REIT's unitholders." Mr. HUANG Junlong stated, "the Manager will review the capital structure of CMC REIT from time to time, with a view to further optimizing the debt structure and exploring further reduction of debt costs by using cross-border RMB to prepare for further asset acquisitions." About CMC REIT China Merchants Commercial REIT is a Hong Kong collective investment scheme constituted as a unit trust and authorised under section 104 of the SFO. China Merchants Commercial REIT is a REIT formed to primarily own and invest in high quality income-generating commercial properties in the PRC (including Hong Kong and Macao but excluding the CML Cities). It will initially focus on: (i) the Greater Bay Area (other than Foshan and Guangzhou, being two of the CML Cities), which is where the initial five Properties are situated; and (ii) Beijing and Shanghai. China Merchants Commercial REIT is managed by the REIT Manager whose key investment objectives are to provide Unitholders with stable distributions, sustainable and long-term distribution growth, and enhancement in the value of China Merchants Commercial REIT's properties. For more information about China Merchants Commercial REIT, please visit its corporate website: http://www.cmcreit.com/.
-
Industry players call for a 'non-stop' approach to Africa's banking digitisation
CAPE TOWN, South Africa, March 30, 2023 /PRNewswire/ -- If banks want to remain competitive in the face of neo-bank and fintech upstarts, they'll have to fundamentally change the way they do business to be digital first. And if they're going to achieve that goal, then working with technology partners to ensure that they have the right infrastructure in place will be crucial. That was the overriding message from the speakers at a media roundtable event hosted during the Huawei Intelligent Finance Summit for Africa 2023, recently held in Cape Town, South Africa. Leo Chen, President of Huawei Sub-Saharan Africa Region, unveiled ‘Non Stop Banking’ initiative at the Huawei Intelligent Finance Summit for Africa 2023, the initiative calls for hand-in-hand collaboration between the ICT and banking industries and facilitate a digital future of 'non-stop' services, 'non-stop' development, and 'non-stop' innovation. According to Jason Cao, CEO of Huawei Global Digital Finance, African banks have an opportunity to take advantage of the continent's mobile penetration rates and increasing financial needs. "Mobile is the core of everything," he said, adding that there are similarities between mobile payments in China and in Africa. Futurist and author Brett King agrees that this mobile focus will be important, not just in Africa but around the globe. Someone who has firsthand experience of how taking a digital-first approach can help improve customer experience is Eric Muriuki Njagi, Group Director, Digital Business, at the NCBA Group, one of Africa's largest financial services companies. He pointed out that, for banks, making the choice to lead with technology is about deploying "money at the speed of trust." As Njagi pointed out, "We now have payments being made instantly or in a matter of seconds," he said, adding that the same now applies to credit. "We're now initiating and completing about 6 million loans a day, with an average of two seconds required to complete each one." But, the NCBA director noted, that kind of speed means very little without trust. In a world where just five percent of fiat currency is made up of hard cash and the rest is essentially algorithmic, that's especially critical. "How do we trust the algorithm?" he asked. The answer lies in a concept that Huawei calls "non-stop banking." Leo Chen, President of Huawei Sub-Saharan Africa Region, unveiled 'Non Stop Banking' initiative at the Huawei Intelligent Finance Summit for Africa 2023, the initiative calls for hand-in-hand collaboration between the ICT and banking industries and facilitate a digital future of 'non-stop' services, 'non-stop' development, and 'non-stop' innovation. A good place to start on that front is with stability. As Zhentao Chen, CTO, of Digital Finance, Huawei Sub-Saharan Africa pointed out, that's not something African banks have always been able to take for granted.Here, moving back-end systems to the cloud can be incredibly important. "Cloud can help banks bring about zero-downtime financial services," said Cao. Ultimately, however, if traditional banks are to compete with fintechs, they can't just bolt on these technologies. Instead, they must integrate them into a new approach which is entirely digital-first. Echoing that sentiment, Cao concluded by saying that Huawei is, "committed to working with our African customers to focus on the challenges and accelerate digital transformation."
-
JCET Accelerates Technology Upgrades and Transformation in 2022, Maintaining a Leading Edge in High Value-added Applications
Q4 2022 Financial Highlights： Revenue was RMB 8.98 billion, an increase of 4.6% year-on-year. Generated RMB 1.63 billion cash from operations. With net capex investments of RMB 1.24 billion, free cash flow for the quarter was RMB 0.39 billion. Net profit was RMB 0.78 billion. Earnings per share was RMB 0.44, as compared to RMB 0.49 in Q4 2021. Full Year 2022 Financial Highlights： Revenue was RMB 33.76 billion, an increase of 10.7% year-on-year. A record high in the company's history. Generated RMB 6.01 billion cash from operations. With net capex investments of RMB 3.81 billion, free cash flow was RMB 2.20 billion. Net profit was RMB 3.23 billion, a record high in the company's history. Earnings per share was RMB 1.82, as compared to RMB 1.72 in 2021. SHANGHAI, March 30, 2023 /PRNewswire/ -- JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) manufacturing and technology services, today announced its full year financial results for the year ended December 31, 2022. According to the financial report, in 2022 JCET achieved revenue of RMB 33.76 billion, an increase of 10.7% year-on-year, and net profit attributable to owners of the parent of RMB 3.23 billion, an increase of 9.2% year-on-year. In 2022, JCET's pioneering efforts in advanced packaging and testing technology and manufacturing continued to yield results. The company has honed its core technological capabilities through in-depth collaboration with global customers, forming a differentiating competitive advantage. The company's XDFOI™ high-density multi-dimensional heterogeneous integration chiplet technologies have entered the stage of high volume manufacturing (HVM). The company now provides multiple customers with HVM advanced packaging solutions for 4D millimeter-wave radar. During the reporting period, the profit and revenue contributed by high-performance, high-density system-level packaging technology and fan-out wafer-level packaging technology showed solid growth year-on-year. The revenue share of high-value-added products such as computing electronics and automotive electronics also continued to grow. Revenue from automotive electronics increased by 85% year-on-year in 2022, while computing electronics increased by 46% year-on-year. The company gained more test businesses in areas such as 5G RF, automotive chips, high-performance computing chips, and related business attributing to a revenue increase of 25% year-on-year. Over the past three years, the company has achieved positive free cash flow for 13 consecutive quarters through continuous improvement in profitability and asset structure, improvement in cash flow capacity, and a decrease in its asset-to-liability ratio. Always being customer-centric, JCET has comprehensively and continuously improved its production and service quality and has been highly recognized by customers and other parties around the world. At the same time, the company continues to optimize its production capacity structure and actively meet customers' medium and long-term needs. The construction of the Microelectronics Wafer-level Microsystems Integration High-end Manufacturing Project has steadily progressed. In order to further strengthen the product research and development capabilities in the field of cutting-edge technology, the company completed an increase of capital to RMB 1 billion for its wholly-owned subsidiary, JCET Management Co., Ltd. The construction of an Industry 4.0 intelligent new plant in the company's South Korea factory has been completed, and the Singapore factory has achieved a series of automated production and technological upgrades. Mr. Li Zheng, CEO of JCET said, "In 2022, the company overcame adverse external factors such as shrinking demand in the end consumer market, and completed new technology developments in the fields of automotive electronics, high-performance computing, and other fields as well as the HVM of new products from several world-renowned customers, laying a solid foundation for the company's high-quality development in the future. Since the fourth quarter of 2022, the downward pressure on consumer markets such as mobile phones has remained significant, and the global IC industry is still in a typical downward cycle. JCET is actively utilizing its flexible global layout and the adjustment period in which revenue and profit margins are under short-term pressure to accelerate the active transformation of back-end chip manufacturing processes to high performance, as well as the automation and intelligent upgrade of production lines, to provide sufficient preparation for the global market recovery in the near future, and a new round of application demand growth." For more information, please refer to the JCET FY2022 Report. About JCET Group JCET Group is the world's leading integrated-circuit manufacturing and technology services provider, offering a full range of turnkey services that include semiconductor package integration design and characterization, R&D, wafer probe, wafer bumping, package assembly, final test and drop shipment to vendors around the world. Our comprehensive portfolio covers a wide spectrum of semiconductor applications such as mobile, communication, compute, consumer, automotive, and industrial, through advanced wafer-level packaging, 2.5D/3D, System-in-Package, and reliable flip chip and wire bonding technologies. JCET Group has two R&D centers in China and Korea, six manufacturing locations in China, Korea, and Singapore, and sales centers around the world, providing close technology collaboration and efficient supply-chain manufacturing to our global customers.
