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  • iClick Interactive strengthens its KOL marketing capabilities in China
    Taps into China's Multi-channel Network ecosystem through a network of over 300 KOLs HONG KONG, May 27, 2019 /PRNewswire/ -- iClick Interactive Asia Group Limited (iClick) (Nasdaq: ICLK), an independent online marketing and enterprise data solutions provider in China, today announced that it has tapped into the country's Multi-channel Network (MCN) ecosystem which has been expanding rapidly due to the growing significance of Key Opinion Leader (KOL) marketing in brand communications in the country. iClick has established a network of over 300 mid- and top-tier KOLs, who are active on Xiaohongshu (RED), the fastest-growing integrated social media and e-commerce platform in China with over 200 million active users. iClick is poised to deliver an integrated marketing solution to international brands that supports both data-driven brand marketing and KOL marketing. The established and popular KOL network covers a wide range of consumer products including fashion, skin care, beauty, travel, food and lifestyle. Frankie Ho, Head of International Business of iClick, said, "We are excited about becoming a key player in China's MCN ecosystem. Our integrated marketing solution not only helps companies raise brand awareness in the world's most populous market, but also connects brands with the locally popular KOLs who have strong influence over China's Generation Z consumers." One of the top-tier KOLs on iClick's network is Rita Wang (Ritatawang). She is the most-followed KOL on the RED social platform with over three million followers and she has signed an exclusive deal with iClick as an MCN. Currently, RED is one of the hottest and the most popular social apps among Generation Z in China and it allows KOLs to share their first-hand user experiences about makeup products, apparel items, designer goods and other consumer products. According to research published by Accenture, 70% of Chinese Generation Z consumers, defined as those who were born in or after 1995, prefer to purchase products directly on social media platforms as opposed to through other channels – this is ahead of the global average of 44%.  China's MCNs work with KOLs to improve their content and provide them with access to popular social media platforms. This allows the MCN to grow both fans and traffic respectively as well as its own influencer network. About iClick Interactive Asia Group Limited iClick Interactive Asia Group Limited (NASDAQ:ICLK) is an independent online marketing and enterprise data solutions provider that connects worldwide marketers with audiences in China. Built on cutting-edge technologies, our proprietary platform possesses omni-channel marketing capabilities and fulfills various marketing objectives in a data-driven and automated manner, helping both international and domestic marketers reach their target audiences in China. Headquartered in Hong Kong, iClick was established in 2009 and is currently operating in nine locations worldwide including Asia and Europe. Safe Harbor Statement This announcement contains forward-looking statements. These statements constitute "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," "confident" 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. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's fluctuations in growth; its success in implementing its mobile and new retail strategies, including extending its solutions beyond its core online marketing business; its success in structuring a CRM & Marketing Cloud platform; relative percentage of its gross billing recognized as revenue under the gross and net models; its ability to retain existing clients or attract new ones; its ability to retain content distribution channels and negotiate favourable contractual terms; market competition, including from independent online marketing technology platforms as well as large and well-established internet companies; market acceptance of online marketing technology solutions and enterprise solutions; effectiveness of its algorithms and data engines; its ability to collect and use data from various sources; ability to integrate and realize synergies from acquisitions, investments or strategic partnership; fluctuations in foreign exchange rates; and general economic conditions in China and other jurisdictions where the Company operates; and the regulatory landscape in China and other jurisdictions where the Company operates. Further information regarding these and other risks is included in the Company's annual report on Form 20-F and other filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
  • B2B Market Entry Platform Greenhouse Raises S$3.8 Million to Help Companies Expand in Fast Growth Markets in Southeast Asia
    JAKARTA, Indonesia, May 27, 2019 /PRNewswire/ -- Greenhouse, an integrated solution provider empowering businesses to expand in fast growth markets with curated B2B services and sustainable workspaces, has raised S$3.8 million in their latest bridge round funding. This is Greenhouse's second round of funding after the seed round in 2017, which raised S$1.7 million. Drew Calin, CEO and Co-Founder of Greenhouse This round was led by 14 angel investors consisting of 7 new investors and 7 previous seed round investors, including Dilip and Deepak Chugani of KNS Group, an Indonesia-based conglomerate. Drew Calin, CEO and Co-Founder of Greenhouse, expressed that, "We're very fortunate to have a group of experienced angel investors, who can contribute value far beyond their monetary investment." So far, Greenhouse has attracted investors from various countries like Singapore, Australia, Indonesia, and the United States, and from various backgrounds including real estate, tech, finance, logistics, accelerators, and VCs. Drew further explained, "Many of these investors were also in the seed round, including two of our founders and our lead investors. This demonstrates their confidence in our ability to deliver on our vision, and their continued commitment to support us in this pursuit." Greenhouse aims to instill a culture of sustainable business development in markets across Southeast Asia. Through this new funding, Greenhouse will expand its capabilities in helping foreign companies enter, and local companies scale, within fast growth markets like Indonesia, the Philippines, and the rest of Southeast Asia. "Greenhouse was founded to simplify the required processes for entry and growth within these markets by increasing transparency, efficiencies, and ultimately minimizing risks. We do this by building and managing a network of high quality B2B service providers, who offer services like incorporation, visa services, payroll, tax/legal advice, and recruitment - to name a few," Drew explained. Greenhouse is currently further expanding its network of partners across Asia, and building a tech platform that will more efficiently connect businesses who wish to expand in local markets with B2B service providers who can support that expansion. Vicknesh R. Pillay, Co-Founder of Greenhouse, explained, "We'll be launching Greenhouse Connect, our tech platform, in Q2 of 2019. Our initial rollout will offer basic registration services for companies looking to launch in Indonesia, but will expand to six B2B services across as many markets by the end of the year." Vicknesh continued, "Those markets include Indonesia, the Philippines, Singapore, Vietnam, Thailand, and India, and will position us to help companies more efficiently and effectively enter and scale their businesses, with less impact on time or capital." Besides these services, Greenhouse also provides businesses with fully-serviced coworking and office spaces in select markets. They will be expanding their coworking business across Jakarta and into Manila this year, and across a few other strategic markets in SEA, next year. The first Greenhouse coworking space was launched in Multivision Tower, Kuningan, South Jakarta in 2018. Since then, this location has succeeded in growing revenues 57% quarter over quarter, while being recognized as the best coworking space startup in Indonesia (by the Rice Bowl Startup Awards in 2018). According to Vicknesh, that the bridge round funding will partly be used to expand Greenhouse's coworking brand across Southeast Asia. He stated, "We're currently negotiating on five new spaces across Indonesia and the Philippines, while also exploring options in Singapore. We plan to launch two to three new properties in 2019 and we're investing in new talent to support these expansions." Greenhouse will build on its success in 2018 through these diversified revenue streams, which will help them in completing a planned Series A fund raise in 2020. ABOUT GREENHOUSE Greenhouse is an integrated solution provider that provides coworking spaces and business support networks for companies, SMEs, startups, freelancers and more. Greenhouse aims to help promote sustainable businesses by creating a working environment that connects to nature and builds an ecosystem which designed for growth and wellness. Greenhouse also provides both local and international companies with an end-to-end service in order to ease their entry and success in fast growth markets. The first Greenhouse location opened in February 2018 at Multivision Tower (Kuningan Mulia Lot 9B, Central Jakarta) that caters for 228 seats. Companies such as Apple, Google, Instagram, ZenDesk, Nestle, LinkedIn, and many more have chosen Greenhouse for their events or as their day to day office space. For more information about Greenhouse: https://greenhouse.co/. Photo - https://photos.prnasia.com/prnh/20190527/2478275-1 Related Links :https://greenhouse.co
  • Explore Beyond the Limit and Fight for Charity with ZOTAC at COMPUTEX 2019
    HONG KONG, May 27, 2019 /PRNewswire/ -- ZOTAC Technology, a global manufacturer of innovation, will join COMPUTEX 2019 to unveil new innovative products and ideas including new ZBOX Mini Creator PCs, more powerful MEK Gaming PCs from ZOTAC GAMING, and the latest graphics cards with all-new designs. Meanwhile, the ZOTAC CUP Fight For Charity League of Legends (LOL) Tournament will be the very first charity esports tournament to happen in COMPUTEX and will feature popular streamers and influencers worldwide converging to compete for an amazing cause and support charitable organizations around the world. Popular International Influencers Fight for Charity A FIGHT WORTH FIGHTING The ZOTAC CUP Fight For Charity LOL Tournament will take place at Computex, spanning the length of the show from May 28 - June 1. In the Semi Finals on May 28 - 29, top local streamers such as TOYZ, WeiWei, Gear, Eggroll, 7Z and MMD will face off the 9 ZOTAC CUP online qualifiers live on stage. Only 5 winners will advance to the Grand Finals stage where popular international influencers including CooLifeGame from Spain, Guan Zong and Hao Kai from China, Voyboy from North America and Kaypea will be waiting to fight for charity. Each finalist will compete for the lion's share of a $100,000 USD charity prize pool. More innovations come to the ZBOX MINI PC Have the first peak at the all-new ZBOX edge Mini PCs featuring an ultra-thin enclosure. Measuring only 32mm or less in height, the ZBOX edge features up to an Intel Core processor that makes it a powerful and nimble platform for edge computing and more. Second are ZBOX Mini Creator PCs geared with the latest Intel processors built for creative and technical professionals. They are the ultimate workstation solutions integrating the advanced NVIDIA Quadro or GeForce RTX graphics card into an ultra small form factor. Also on display is a more powerful VR GO backpack PC - VR GO 3.0. Revamped with a 9th Generation Intel Core Processor and NVIDIA GeForce RTX, higher performance is housed inside the ergonomic chassis to deliver an immersive and untethered VR experience. ZOTAC GAMING 9TH GENERATION GAMING PCS The 9th Generation Gaming desktops from ZOTAC GAMING soak up the limelight with the launch of the new MEK MINI upgraded with the latest 9th Generation Intel Core processor and a discrete ZOTAC GAMING GeForce RTX graphics card, alongside with an exclusive display of special edition MEK MINIs with a splash of color. NEW GRAPHICS CARDS FOR Slim form-factor BUILDS ZOTAC GAMING graphics cards will show off some new designs, including the ZOTAC GAMING GeForce GTX 1650 Low Profile fit for height restricted spaces and the single-slot water blocked ZOTAC GAMING GeForce RTX 2080 Ti ArcticStorm which debuts exclusive to COMPUTEX Visit ZOTAC and witness the ZOTAC CUP Fight For Charity LOL Tournament Live at Booth No. M0820, 4/F, NANGANG Exhibition Hall. To learn more about the ZOTAC CUP Fight for Charity LOL Tournament, please visit the following links. Event Page Official Microsite ZOTAC CUP Twitch Channel  About ZOTAC Technology Limited ZOTAC takes its name from the words "zone" and "tact". The two words aptly describe our technological strength and experience completed with our innovative and unique approach to the industry. Established in 2006, we believe in manufacturing quality PC related products including graphics cards, motherboards, mini-PCs and innovative accessories. Our dedication to rigorous standards and the relentless pursuit of excellence is the backbone to our success. Photo - https://photos.prnasia.com/prnh/20190524/2477286-1 Logo - https://photos.prnasia.com/prnh/20180913/2236756-1LOGO
  • 64 CSR Programs and Leaders Conferred Asia's Most Prominent CSR Awards
    NEW TAIPEI CITY, Taiwan, May 27, 2019 /PRNewswire/ -- A total of 64 projects and business leaders across Asia were selected as recipients of the Asia Responsible Enterprise Awards (AREA) 2019, which was an increase of 19% from last year. Regarded as the top corporate social responsibility (CSR) awards in Asia, this year's ceremony was organized in Taipei, after being held in Macau, Singapore, Bangkok, and Manila previously. 64 CSR Programs and Leaders Conferred the Asia Responsible Enterprise Awards 2019, held on May 24, 2019, at New Taipei City, Taiwan. Organized by Enterprise Asia, the leading non-governmental organization for responsible entrepreneurship in Asia, the AREA aims to recognize and honor Asian businesses and leaders for championing sustainable and socially responsible business practices. The award categories are Social Empowerment, Investment in People, Health Promotion, Green Leadership, Corporate Governance, and Responsible Business Leadership. Over 300 attendees were present at the by-invitation only event, comprising of industry leaders and leading CSR practitioners. According to Mr. Ng, "Over the past decade, CSR has evolved to creating shared values. By recognizing and celebrating the outstanding ideas for sustainability, we hope to encourage the institutionalization of sustainability. When sustainability, doing good and social change become part of our corporate DNA -- they become permanent and not a subset of our profit and loss statement -- but the reason for it." He added, "To date, our Asia Responsible Enterprise Awards has seen over 500 successful CSR projects being highlighted, with millions of communities uplifted and billions of lives touched and saved. Many of these projects have also served as a benchmark to other companies. Quite a few CSR departments and regional initiatives are now modelled after our categories and judging methodology, and we are quite happy to have played our part in drawing the direction for CSR across Asia." This year, over 200 submissions across 16 countries were received from companies across Asia, with judges led by Dr. Chien, sieving through the submission over a three-month judging period. According to Dr Chien, "The panel of judges were impressed by the quality and diversity of submissions this year and had the challenging task of evaluating and determining this year's finalists. This is a far cry from when we first started giving out the awards in year 2009. Besides being able to demonstrate the design and execution of sound and effective CSR programs, much thought has been given to its impact and measurability." He added, "This year, over 35% of the winners emerged from Taiwan, overtaking Thailand, which has been taking the lead in the number of winning entries over the past few years. This demonstrates the expertise and capability of the CSR practitioners in Taiwan and we congratulate them on their commitment in achieving the SDGs." Among the notable winning projects were "Less Carbon, Better Life" by Pacific SOGO Department Stores which instilled environment protection awareness by integrating its stakeholders to jointly create a green department store; and "Financial Education Program for Public Schools in the Philippines" by BDO Foundation, which raised the financial literacy of 24 million students in more than 47,000 public schools across the Philippines. In conjunction with the AREA 2019, the International CSR Summit (ICS) 2019 was also held at Hilton Taipei Sinban. Themed "Take a Stand, Delivering on the Global Goals", the Summit convened over 300 corporate social responsibility (CSR) experts and practitioners from across 16 countries to collaborate and exchange insights on the most stirring conversations in CSR today, and in deliberating solutions to current society issues. Some of the dignitaries who graced the AREA 2019 and ICS 2019 include Mr. Chang San-cheng, former premier of the Republic of China (Taiwan); Mr. Hou Yu-Ih, mayor of New Taipei City; Mr. Jonathan Chen, vice mayor of New Taipei City; Mr. Lai Ming-chi, director-general of Department of NGO International Affairs, Ministry of Foreign Affairs; Tan Sri Dr. Fong Chan Onn, chairman of Enterprise Asia; Dr. Eugene Chien, Ambassador-at-Large of the Republic of China (Taiwan); and Dato' William Ng, president of Enterprise Asia. Echoing the movement of the 2019 World Economic Forum in Davos, the ICS 2019 called for business decision makers to mobilize their resources to aggressively deliver on the United Nation's 17 Sustainable Development Goals by 2030 and to achieve a low carbon future. In the Summit, participants reflected upon the journey that the CSR community has embarked over the past decade, and the impact garnered from those initiatives. Among the distinguished speakers of the Summit were Erdal Elver, CEO of Siemens Taiwan; Jean-Marc Champagne, head of environmental finance of WWF Hong Kong; Dr Niven Huang, regional leader of KPMG Sustainability Services Asia Pacific; Dr. Naoki Adachi, executive director of Japan Business Initiative For Biodiversity; Dr. Lih Chyi Wen, director of Center for Green Economy, Chung Hwa Institution for Economic Research; Alexandra Tracy, president of Hoi Ping Ventures Hong Kong; Shinji Onoda, policy researcher of Sustainability Governance Center, Institute for Global Environmental Strategies; Gennie Yen, founder of CSRone; Joanna Fong of DHL and Shalom Chen of  L'Oreal. The key takeaway of the Summit was to educate attendees on opportunities and strategies to decarbonize their businesses. Using case studies such as how a 170 years-old integrated company transformed itself into a low-carbon business amidst megatrend challenges, participants discovered strategies to accelerate the adoption of decarbonizing actions across the company. Topics on large scale collaborations across industry value chains, governance transformation, the significance of data collection, latest updates on science based targets initiatives, smart technologies and renewables that disrupt industry norms were also discussed among panellists and keynotes. The most coveted CSR event in the region - AREA 2019 & ICS 2019 were supported by Official Local Partner - Taiwan Institute for Sustainable Energy; Official PR Partner - Fides Corporate Sustainability; Sponsor - Zero Emission Venture; Supporting Organizations - AmCham Taipei; British Chamber of Commerce; Chinese International Economic Cooperation Association; Circular Economy Club; CSRone; European Chamber of Commerce; Green Trade Project Office, Taiwan External Trade Development Council; Institute for Global Environmental Strategies; Ministry of Energy, Science, Technology, Environment and Climate Change, Malaysia; Taiwan Corporate Governance Association; Official News Release Distribution Partner - PR Newswire; and Official Media Partners - BusinessWorld; Commercial Times; SME Magazine; The Nation; Singapore Business Review and Tuoi Tre News. PR Newswire is the Official News Release Distribution Partner of AREA 2019 & ICS 2019. Recipient List of the Asia Responsible Enterprise Awards 2019 Responsible Business Leadership JOSEPH HUANG, CEO of E.SUN FINANCIAL HOLDING CO., LTD. (Taiwan)  Social Empowerment AISECT (India) - AISECT Multipurpose IT Centre Model    APPLE DAILY CHARITABLE FOUNDATION (Hong Kong) - Apple Bursaries Scheme BANK RAKYAT (Malaysia) - Autism #Anakkita (Our kids) BDO FOUNDATION, INC. (Philippines) - Financial Education Programme For Public Schools in the Philippines BE INTERNATIONAL MARKETING SDN BHD (Malaysia) - Transforming the Lives of Children in Vietnam, Myanmar & Malaysia BEIJING ORIENTAL YUHONG WATERPROOF TECHNOLOGY CO., LTD. (Mainland China) - Shanghai Aihao Children Rehabilitation Center CHINA MENGNIU DAIRY COMPANY LIMITED (Mainland China) - Mengniu Nutrition for All Programme CTBC FOUNDATION FOR ARTS AND CULTURE (Taiwan) - Love & Arts for Dreams Initiatives Project ELUSYF GLOBAL PTE LTD (Singapore) - Silver Screening 2-For-1 ENGRO FERTILIZERS LIMITED (Pakistan) - PAVE (Partnership and Value Expansion) for Inclusive Seed Systems in Pakistan FAR EASTERN BIG CITY SHOPPING MALLS CO., LTD. (Taiwan) - Co-hosting 8th Vocal Asia Festival with Kehua Foundation to Realise Big City's Vision of Promoting with Profound Impact the Preservation of Taiwan's Native Culture and Hakka Folk Songs FUBON LIFE INSURANCE CO., LTD. (Taiwan) - Guarding the Demented Patients and their Families, and Promoting the Concept of Having Young People Accompany Elders GOVERNMENT SAVINGS BANK (Thailand) - GSB SMART Homestay GRABTAXI HOLDINGS PTE LTD (Singapore) - Sustainable Urban Mobility Initiative for All (SUMAI) IRPC PUBLIC COMPANY LIMITED (Thailand) - New Steps For New Life KING POWER INTERNATIONAL CO., LTD. (Thailand) - King Power Thai Power NAGAWORLD LIMITED (Cambodia) - Football Development Programme in Kampong Speu PEPSI-COLA PRODUCTS PHILIPPINES, INC. (Philippines) - Water For Peace in Marawi PLANET TECHNOLOGY CORPORATION (Taiwan) - Educational Programme for the Disadvantaged Children PT BADAK NGL (Indonesia) - Selangan City PT JAPFA COMFEED INDONESIA TBK (Indonesia) - JAPFA SiRepi Waste Bank PT PEMBANGKITAN JAWA-BALI (Indonesia) - Bawean Eco Edu Tourism PT PUPUK KALTIM (Indonesia) - Better Living in Malahing PTT EXPLORATION AND PRODUCTION PUBLIC COMPANY LIMITED (Thailand) - Crab Hatchery Learning Center Project REDTONE INTERNATIONAL BERHAD (Malaysia) - REDtone Kuala Lumpur International Junior Open Squash Championship REIJU CONSTRUCTION CO., LTD. (Taiwan) - Charity Express, Happiness Care SAB KA MANGAL HO FOUNDATION (India) - Yoga Training at Orphanages SHIN KONG LIFE INSURANCE CO., LTD. (Taiwan) - Create Shared Value with Sustainable Thinking SINO OCEAN HOLDING GROUP (Mainland China) - Little Friends Education Sponsorship Scheme SINOPAC FINANCIAL HOLDINGS COMPANY LIMITED (Taiwan) - Keeping the Face to the Sunshine TAIWAN LIFE INSURANCE CO., LTD. (Taiwan) - Taiwan's New Era in Aging THAI LIFE INSURANCE PUBLIC COMPANY LIMITED (Thailand) - Sharing Kindness By Thai Life Insurance People VINCOMMERCE GENERAL COMMERCIAL SERVICES JSC (Vietnam) - Accompanying, Supporting and Promoting Vietnamese Production Investment In People ACBEL POLYTECH INC. (Taiwan) - We Strive to Uphold a Quality Joyous Work Environment AP (THAILAND) PUBLIC COMPANY LIMITED (Thailand) - Navigating Happiness BAXTER HEALTHCARE LTD (Taiwan) -  Baxter is Making a Difference in our Communities CTBC FINANCIAL HOLDING CO., LTD. (Taiwan) - CTBC Human Capital Comprehensive Enhancement Plan DOHLE SEAFRONT CREWING (MANILA) INC. (Philippines) - Dohle Seafront Family Programme MGM CHINA HOLDINGS LIMITED (Macau) - Making Great Moments PROVINCIAL ELECTRICITY AUTHORITY (Thailand) - 1 Tambon 1 Electrician TAISHIN FINANCIAL HOLDING CO., LTD. (Taiwan) - Dual Mentoring Programme TAIWAN POWER COMPANY (Taiwan) - Building the Soft and Hard Capacity for Professionals in the Power Industry Health Promotion AIA COMPANY LIMITED (Thailand) - AIA Sharing A Life Charity Run JEBSEN GROUP (Hong Kong) -  Project Morning Star - National Model of Comprehensive Rural Eye Care Network Building Project KBZ BANK (Myanmar) - KBZ Bank's Cleft Mission with Smile Asia METROPOLITAN WATERWORKS AUTHORITY (MWA) (Thailand) - School Tap Water System Project NAN SHAN LIFE INSURANCE CO., LTD. (Taiwan) - Nan Shan Charity Fund for Community Health Care Programme PT JAPFA COMFEED INDONESIA TBK (Indonesia) - JAPFA for Kids-Healthy Food Ambassadors SIAM FRESH ENTERPRISE CO., LTD (Thailand) - The Boss Run for Sharing Green Leadership ASIA CEMENT CORPORATION (Taiwan) - Deeply Rooting the Seeds of Sustainable Hope – Asia Cement Eco-Environment Education Project BETTER WORLD GREEN PUBLIC COMPANY LIMITED (Thailand) - Green Energy From Industrial Waste CELCOM AXIATA BERHAD (Malaysia) - Tasik Chini Empowered-Harmonising Digital Inclusion and Sustainability GLOBAL POWER SYNERGY PUBLIC COMPANY LIMITED (Thailand) - The Zero Waste Village Project MALAYSIA AIRPORTS HOLDINGS BERHAD (Malaysia) - klia2: "Embracing Energy Efficiency for Sustainable Aviation" NICE GARDEN INDUSTRIAL CO., LTD. (Taiwan) - Sustainable Agri-Food Practitioner - NEXTLAND PACIFIC SOGO DEPARTMENT STORES CO., LTD. (Taiwan) - Less Carbon, Better Life PT HM SAMPOERNA TBK (Indonesia) - Carbon Footprint Management in Finished Goods Transportation TAIWAN CEMENT CORPORATION (Taiwan) - Turn Carbon Dioxide Into Green TAIWAN COGENERATION CORPORATION (Taiwan) - Dedication to Circular Economy, Low-carbon Emission, and Energy Sustainability Corporate Governance CATHAY FINANCIAL HOLDINGS CO., LTD. (Taiwan) - Sustainable Governance CTBC FINANCIAL HOLDING CO., LTD. (Taiwan) - CTBC Financial Holding Sustainable Governance Programme E.SUN FINANCIAL HOLDING CO., LTD. (Taiwan) - Solid Corporate Governance Led by Professional Managers METROPOLITAN WATERWORKS AUTHORITY (MWA) (Thailand) - MWA Corporate Governance Council Media Contact Ms Koo Tse ChienEnterprise Asia(60) 3 7803 0312tsechien@enterpriseasia.org About Enterprise Asia Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organisations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. For more information, visit: https://www.enterpriseasia.org/. About Asia Responsible Enterprise Awards The Asia Responsible Enterprise Awards programmes recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance and Responsible Business Leadership. For more information, visit: https://enterpriseasia.org/area/. About International CSR Summit ICS is a series of annual regional events in Asia which gathers top CSR leaders and practitioners to strengthen ties, share experiences and insights, as well as identify regional challenges and opportunities to shape Asia towards a more responsible, sustainable and progressive socio-economic market. For more information, visit: https://enterpriseasia.org/area/ics/. Photo - https://photos.prnasia.com/prnh/20190527/2478281-1Related Links :http://https://www.enterpriseasia.org
  • StarHub Taps Red Hat OpenStack Training for Talent Upskilling and Innovation
    SINGAPORE, May 27, 2019 /PRNewswire/ -- Red Hat, Inc. (NYSE: RHT), the world's leading provider of open-source solutions, today announced that StarHub, a leading homegrown Singapore company that delivers world-class communications, entertainment and digital solutions, has selected the company to help develop its workforce under the Red Hat Training and Certification programme amid increased adoption of open source innovation. As part of the programme, Red Hat provides specialized training for StarHub's Integrated Network Engineering team on Red Hat OpenStack Platform, which is deployed across the company's infrastructure. This includes keeping the engineers' technical expertise up-to-date and sharing best practices in next-generation cloud-based platforms. The Integrated Network Engineering team, led by StarHub's chief technology officer Mr Chong Siew Loong, designs and maintains robust, efficient, and scalable fixed and wireless networks for the delivery of quality services, content and solutions to all consumers and enterprises. The team has clinched multiple awards for demonstrating an ability to innovate and transform its infrastructure to meet customers' needs. Most recently, the team was credited for delivering Singapore's fastest and most consistent mobile network to customers. With OpenStack-centric training and certification provided by Red Hat, StarHub's engineers are better equipped to deliver solutions on Red Hat OpenStack Platform more quickly with less need for troubleshooting post-rollout. Red Hat's hands-on training and lab-based approach to learning allows them to gain a comprehensive understanding of Red Hat tools and solutions. The programme also exposes them to unique and critical real-world scenarios by providing extensive training and knowledge of selected tools and solutions for different situations. Supporting quotes: Chong Siew Loong, chief technology officer, StarHub "Our networks can only be as good as the team managing them. This is why at StarHub, we invest in the development of our people to maintain the high levels of professional competency required to offer our customers the best network experience. Amid rapid technological advances, we work with renowned software companies like Red Hat to hone skills that are not only relevant today, but a catalyst for future innovation." Damien Wong, vice president, general manager, Asian Growth & Emerging Markets (GEMs), Red Hat "We are excited to work with StarHub and empower their teams with the skills and expertise to help build the next-generation of telco innovation with Red Hat OpenStack Platform. We hope our training and certification programme helps to deliver value in the form of support for business requirements and enables StarHub to deliver innovation alongside the quality of connectivity that their customers simply expect."  Additional Resources: Visit the Red Hat Training and Certification website About Red Hat Red Hat is the world's leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organizations prepare for the digital future. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to our pending merger with International Business Machines Corporation, the ability of the Company to compete effectively; the ability to deliver and stimulate demand for new products and technological innovations on a timely basis; delays or reductions in information technology spending; the integration of acquisitions and the ability to market successfully acquired technologies and products; risks related to errors or defects in our offerings and third-party products upon which our offerings depend; risks related to the security of our offerings and other data security vulnerabilities; fluctuations in exchange rates; changes in and a dependence on key personnel; the effects of industry consolidation; uncertainty and adverse results in litigation and related settlements; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; the ability to meet financial and operational challenges encountered in our international operations; and ineffective management of, and control over, the Company's growth and international operations, as well as other factors contained in our most recent Quarterly Report on Form 10-Q (copies of which may be accessed through the Securities and Exchange Commission's website at http://www.sec.gov), including those found therein under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic and political conditions, governmental and public policy changes and the impact of natural disasters such as earthquakes and floods. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.   Red Hat is a registered trademark of Red Hat, Inc. or its subsidiaries in the U.S. and other countries. Linux® is the registered trademark of Linus Torvalds in the U.S. and other countries. The OpenStack Word Mark is either a registered trademark/service mark or trademark/service mark of the OpenStack Foundation, in the United States and other countries, and is used with the OpenStack Foundation's permission. Red Hat is not affiliated with, endorsed or sponsored by the OpenStack Foundation, or the OpenStack community Logo - https://photos.prnasia.com/prnh/20190510/2463112-1logo Related Links :https://www.redhat.com
  • Be Intelligent appoints Penny Higgins as director
    AUCKLAND, New Zealand, May 27, 2019 /PRNewswire/ -- Be Intelligent, a leading Kiwi Salesforce partner has appointed Penny Higgins as a director and shareholder. Be Intelligent consultants deliver strategic technology transformations using Salesforce, specialising in Sales Cloud, Service Cloud; Field Services; CPQ & Billing; and marketing automation with Salesforce Marketing Cloud.  The company has a rich experience in complex multi-platform integrations. Penny Higgins, now New Zealand's only female co-owner and director of a Salesforce partner, adds to the Be Intelligent skill set with a strong background in Salesforce having experience as both a client and consulting partner. Penny excels in business transformation, driving both change and user adoption. She is excited by the unique potential of what Be Intelligent is offering. "I am really thrilled with this opportunity and look forward to helping our clients leverage Salesforce technology to enhance their customer experiences, enable sustainable change and drive results.'' Be Intelligent founder Mikal Todd says that Penny's appointment will allow Be Intelligent to offer even greater focus on user adoption, often missed by implementation focused partners. The company's current clients span Iwi, communications, finance and energy including prestigious organisations such as Vector. "Clients are increasingly adopting Salesforce and its associated technologies to drive growth across a multitude of sectors. At Be Intelligent we understand not only the technology delivery aspects of that, but the vital role played by efficient user experience. "Penny is one of New Zealand's leading experts in Salesforce business transformation and will provide our clients with successful outcomes, that grow their business." About Be Intelligent Be Intelligent is a New Zealand company, based in Auckland, founded in 2018 by Mikal Todd. Be Intelligent delivers elegant Salesforce and Marketing Cloud solutions to medium & large enterprises with success driven through a focus on both user adoption and digital transformation.  For more information, please visit: http://www.beintelligent.nzRelated Links :http://www.beintelligent.nzhttps://www.beintelligent.nz/
  • ToJoy cooperates with international talents to implement the strategy of globalization
    BEIJING, May 27, 2019 /PRNewswire/ -- Lu Junqing, Chairman of the Board of Directors of ToJoy Shared Group, a leading global O2O business platform, shares his experience of how he managed to attract global talents, especially the top echelon of leading personnel in the world. Here are his experience and thoughts. What should a foreign senior manager do to give full play to his/her capability in China? On December 28, 2018, Marcello Lippi was seen wandering alone with a sad look on the football court. That was the last match for the Chinese football team led by him in the Asian Cup. Consequently, his team was defeated by the Iraqi team and was knocked out in the group stage. Lippi said nothing but "I have to resign as the leading coach of the Chinese national football team" and left, keeping himself ever further away from the limelight. This is merely a piece of news about a sport event, but it has caused severe trauma to the sports industry. Meanwhile, it has set those in other realms thinking about this question – "Why is it that even international talents fail to vitalize their undertakings?" In recent years, China has enjoyed a great economic growth and enhanced its global influence, and many Chinese enterprises have developed rapidly across the world. Against such a backdrop, an increasing number of foreign talents have tried their luck in Chinese enterprises. Nevertheless, most of them failed to adapt themselves to the local workplace and retreated with sorrow, just as Lippi. It seems that international talents would never be able to become accustomed to Chinese enterprises while Chinese companies would never succeed in absorbing global talents. A private entrepreneur in Guangzhou used to share such an anecdote, "In an office meeting, an American sat beside me. Of the five department managers, one was from South Korea; one, Switzerland… Of course, most of the colleagues were Chinese. As they began to talk, the interpreter became overwhelmingly busy." In face of the language and cultural barriers, managers sometimes find themselves helpless. Due to different cultural backgrounds, some local employees find it hard to get used to the management of foreign senior managers within a short time. For instance, an enterprise in Zhejiang Province hired a senior manager from Germany. On Saturdays, he chaired a regular meeting on work quality. But he found that if the general manager was absent, all the problems would remain unsolved. "Foreign senior managers have rich work experience, but they know little about the reality of Mainland China. As a result, their experience may not be absorbed by Chinese enterprises within a short time." According to some insiders, "Cultural shock may be a serious problem for foreign senior managers who work in China. Even the experts from Germany and Japan, both of which excel in management, would find significant difference between them. Therefore, foreign senior managers are not necessarily good at leading local employees, and the biggest obstacle in the introduction of foreign senior managers is the differences between local and foreign cultures." Collaborate with international talents to spread business around the world Most enterprises would employ international talents during the stage of transformation and improvement. In this stage, the management system is the hardware that would ensure the success of an enterprise's strategic transformation, while human resource serves as the software. Nowadays, Chinese enterprises are eager for high-end innovation-oriented talents, but many talents don't have the ability to support the enterprises' transformation and improvement. The root cause lies in the gap between the demand for talents and the inadequacy of competent employees in the reform of enterprises. As a result, they are in a predicament in terms of recruitment. In other words, only an international management system can match global talents. Just as the migration of animals, the migrants must adapt to local ecosystems, or they would cause damage to each other and degrade together. In the past six months, a Chinese private enterprise has set a good model for us to solve this problem. Jose Maria Figueres, the former president of Costa Rica; Boris Tadic, the former president of Serbia; Yves Leterme, the former prime minister of Belgium; and Ge Jun, the former Global Vice President of Apple Inc. are leading figures in politics and business in the world. Their names are on the membership list of ToJoy Shared Holding Group. All of them have become a part of ToJoy, undertaking tasks and shouldering responsibility. Like other employees, they make joint efforts to implement ToJoy's strategy of globalization. Expanding on Lu Junqing's experience in attracting global talents. First, Ge Jun is an outstanding Chinese youth of the new generation among the four leading figures mentioned above, while the other three used to be a political leader and their countries keep a close relationship with China. According to Lu, the partnership between countries is the basis of the cooperation in economy, culture and other fields. During their terms of office, they all played a vital role in accelerating the economic and cultural development of China and their motherlands. They befriend Chinese people, dress themselves in traditional Chinese clothing, show passion for the Chinese culture, and recognize and emphasize the current trends Second, they have abundant political experience and great business wisdom. With the experience they accumulated and the horizon they developed in their national governance, they have become more capable of predicting the global economic landscape. Third, they speak highly of the unique business model of ToJoy, the special business value of ToJoy's Unicorn Incubator as well as the culture and values of ToJoy. Besides, they hope to start business, share resources and achieve win-win results with it. Keen on the innovative economy, Ge Jun experienced the two influential emerging eras represented by Intel and Apple respectively. Each choice he makes sends the signal of the trend in the next era. Therefore, he was determined to create a promising future brought by unicorn enterprises and sharing economy. To better understand it, it is necessary to mention the low-profile layout of ToJoy in the past three decades. Established in 1991, ToJoy is a super global O2O business platform which is committed to incubating and accelerating the unicorn enterprises. It possesses over 100 wholly-owned companies and holding corporations, more than 7,000 employees and over 700 professional investment talents and senior management talents in 38 cities in the world. To date, it has accelerated more than 40 unicorn and semi-unicorn enterprises and is able to accelerate 300 unicorn enterprises every year. ToJoy aims to become a professional unicorn enterprise accelerator. With the mission of "happiness runs on enterprises acceleration", it helps global entrepreneurs develop through collaboration and share the value of "developing from a small enterprise into a big one". In the past three years, ToJoy has accelerate over 40 unicorn and semi-unicorn enterprises, including Sousoushenbian, Handbond, Zhongshanghuimin and Fkgou. In addition, it has provided a sharing service platform for over 100,000 enterprises and created many jobs and entrepreneurial opportunities and much local tax income. On November 20, 2018, the American branch of ToJoy Shared Group was put into operation in New York. This indicates that ToJoy has gone global as a unicorn enterprise accelerator with a development strategy and layout for its globalization and that it will lead more Chinese enterprises towards the international community with the Belt and Road Initiative. By far, the overseas business of ToJoy has covered such countries and regions as the US, Europe, Latin America and the ASEAN. Head offices have been established in Vienna, Paris, New York, Hong Kong and other international metropolises. It is now preparing for spreading its business to Japan, South Korea and India. Through its innovative economy, ToJoy has achieved consistency between the elite's view on life and the world and the enterprise's sense of mission, so that both the elite and the enterprise will share the same goal and value each other to attain remarkable accomplishments. View original content to download multimedia:http://www.prnewswire.com/news-releases/tojoy-cooperates-with-international-talents-to-implement-the-strategy-of-globalization-300856904.html
  • Notice of The Twentieth Annual General Meeting of Shareholders
    TAIPEI, Taiwan, May 25, 2019 /PRNewswire/ -- GigaMedia LimitedIncorporated in the Republic of SingaporeRegistration No.: 199905474H REGISTERED OFFICE80 Robinson Road, #02-00Singapore 068898 NOTICE IS HEREBY GIVEN that the 20th annual general meeting of the shareholders of GigaMedia Limited (the "Company") will be held on June 28, 2019 at 11 a.m. local time at Flat C, 7/F, Lucky Horse Industrial Building, 64 Tong Mi Road, Mongkok, Kowloon, Hong Kong, for the following purposes: AS ORDINARY AND SPECIAL BUSINESS ORDINARY RESOLUTIONS: To consider and, if thought fit, to pass, with or without modification, the following resolutions which will be proposed as Ordinary Resolutions: 1.     Adoption of audited financial statements           RESOLVED that the Statement by the Directors, Auditor's Report and Audited Financial Statements of the Company for the financial year ended December 31, 2018 are received and adopted.(Resolution 1) 2.     Approval of appointment of auditors           RESOLVED that Deloitte & Touche and Deloitte & Touche LLP be and are hereby appointed as the independent external auditors of the Company until the next Annual General Meeting and that the Directors be and are hereby authorized to fix their remuneration.(Resolution 2) 3.     Approval of Directors' remuneration           RESOLVED that the remuneration of the Directors is hereby approved in an aggregate amount not exceeding US$350,000 in respect of their professional services to the Company until the conclusion of the next Annual General Meeting of the Company.(Resolution 3) 4.     Approval for authority to allot and issue shares           RESOLVED that pursuant to Section 161 of the Companies Act, Chapter 50 of Singapore ("Companies Act"), authority be and is hereby given to the Directors of the Company to: (1)           (a)           issue ordinary shares in the Company ("Shares") whether by way of rights, bonus or otherwise; and/or                (b)           make or grant offers, agreements or options (collectively, "Instruments") that might or would require Shares to be issued, including but not limited to the creation and issue of (as well as adjustments to) options, warrants, debentures or other instruments convertible into Shares,                at any time and upon such terms and conditions and for such purposes and to such persons as the Directors may in their absolute discretion deem fit; and (2)           notwithstanding that the authority conferred by this Resolution may have ceased to be in force, issue Shares pursuant to any Instrument made or granted by the Directors while this Resolution was in force; and (3)           unless varied or revoked by the Company in general meeting, such authority conferred on the Directors of the Company shall continue in force:                (i)             until the conclusion of the next Annual General Meeting of the Company or the date by which the next Annual General Meeting of the Company is required by law to be held whichever is earlier; or                (ii)            in the case of Shares to be issued in pursuance of the Instruments, made or granted pursuant to this Resolution, until the issuance of such Shares in accordance with the terms of the Instruments. (Resolution 4) 5.     Approval for share purchase mandate                 RESOLVED that: (1)           for the purposes of Sections 76C and 76E of the Companies Act, the exercise by the Directors of the Company of all the powers of the Company to purchase or otherwise acquire issued Shares not exceeding in aggregate the Maximum Limit (as hereafter defined), at such price or prices as may be determined by the Directors from time to time up to the Maximum Price (as hereafter defined), by way of market purchase(s) on The Nasdaq Stock Market ("Nasdaq") or off-market purchase(s) on an equal access scheme(s) as may be determined by the Directors as they see fit, which scheme(s) shall satisfy all the conditions of the Companies Act, and otherwise in accordance with all other laws and regulations and rules of Nasdaq as may for the time being be applicable, be and is hereby authorized and approved generally and unconditionally (the "Share Purchase Mandate"); (2)           unless varied or revoked by the Company in a general meeting, the authority conferred on the Directors of the Company pursuant to the Share Purchase Mandate may be exercised by the Directors at any time and from time to time during the period commencing from the date of the passing of this Resolution and expiring on the earlier of:                (a)           the date on which the next Annual General Meeting of the Company is held; and                (b)           the date by which the next Annual General Meeting of the Company is required by law to be held; (3)           in this Resolution:           "Average Closing Price" means the average of the last dealt prices of a Share for the five consecutive trading days on which the Shares are transacted on Nasdaq immediately preceding the date of market purchase by the Company or the date of making the offer pursuant to an equal access scheme and deemed to be adjusted in accordance with the listing rules of Nasdaq for any corporate action which occurs after the relevant five day period;           "Maximum Limit" means that number of issued Shares representing 10% of the total number of issued Shares as at the date of the passing of this Resolution (excluding any Shares which are held as treasury shares as at that date); and           "Maximum Price", in relation to a Share to be purchased or acquired pursuant to the Share Purchase Mandate, means the purchase price (excluding brokerage, commission, applicable goods and services tax and other related expenses) which shall not exceed 105% of the Average Closing Price of the Shares; and (4)            the Directors of the Company and/or any of them be and are hereby authorized to complete and do all such acts and things (including executing such documents as may be required) as they and/or he may consider expedient or necessary to give effect to the transactions contemplated and/or authorized by this Resolution. (Resolution 5) 6.     To transact any other business as may properly be transacted at an Annual General Meeting of the Company. NOTES: 1.     Shareholders are cordially invited to attend the Twentieth Annual General Meeting in person.  Whether or not you plan to be at the Twentieth Annual General Meeting, you are urged to return your proxy.  A shareholder entitled to attend and vote is entitled to appoint one or more proxies to attend and to vote instead of him. 2.     Shareholders wishing to vote by proxy should complete the attached form. 3.     The proxy form of an individual shareholder shall be signed either by the shareholder personally or by his attorney. The proxy form of a corporate shareholder shall be given either under its common seal or signed on its behalf by an attorney or a duly authorized officer of the corporate shareholder. 4.     A proxy need not be a shareholder of the Company. 5.     The proxy form (and if relevant, the original power of attorney, or other authority under which it is signed or a notarially certified copy of such power or authority) must be deposited at Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717, or the office of the Company, 8F, No. 22, Lane 407, Section 2, Tiding Boulevard, Taipei 114, Taiwan R.O.C., not less than 48 hours before the time for holding the Twentieth Annual General Meeting, that is by no later than 11 p.m. June 25, 2019 (New York time), or 11 a.m. June 26, 2019 (Taipei time), failing which the proxy shall not be treated as valid. 6.     Electronic Delivery of Future Proxy Materials.  Shareholders can consent to receiving all future proxy statements, proxy card and annual reports electronically via e-mail or the internet. To sign up for electronic delivery, please follow the instructions below relating to "Electronic Delivery of Future Proxy Materials" and, when prompted, indicate that you agree to receive or access proxy materials electronically in future years. 7.       Only shareholders of record at the close of business on April 26, 2019 are entitled to notice of and to vote at the Twentieth Annual General Meeting, or any adjournment or postponement of the Twentieth Annual General Meeting. 8.     The Company intends to use internal sources of funds or external borrowings or a combination of both to finance the Company's purchase or acquisition of the Shares pursuant to the Share Purchase Mandate.  The Directors do not propose to exercise the Share Purchase Mandate to such extent that it would materially and adversely affect the financial position of the Company and its subsidiaries.  The amount of financing required for the Company to purchase or acquire its Shares, and the impact on the Company's financial position, cannot be ascertained as at the date of this Notice as this will depend on the number of Shares purchased or acquired, the price at which such Shares were purchased or acquired and whether the Shares purchased or acquired would be held in treasury or cancelled.   BY ORDER OF THE BOARD   /s/ Cheng-Ming Huang………………………………………..Cheng-Ming Huang (aka James Huang)Chairman of the Board and Chief Executive Officer   TABLE OF CONTENTS NOTICE OF ANNUAL MEETING OF SHAREHOLDERS PROXY STATEMENT                 Questions and Answers about the Annual Meeting and Voting                Proposal 1                Proposal 2                Proposal 3                Proposal 4                Proposal 5                            Other Matters                Proxy Solicitation       GigaMedia LimitedIncorporated in the Republic of SingaporeRegistration No.: 199905474H REGISTERED OFFICE80 Robinson Road, #02-00Singapore 068898 ----------------------------------------------------- PROXY STATEMENT ----------------------------------------------------- QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING AND VOTING Why Did I Receive This Proxy Statement?           We sent you this proxy statement and the enclosed proxy card because the Company's Board of Directors is soliciting your proxy to be used at the Company's annual meeting of shareholders on June 28, 2019 at Flat C, 7/F, Lucky Horse Industrial Building, 64 Tong Mi Road, Mongkok, Kowloon, Hong Kong, or at any adjournment or postponement of the meeting.  Who Can Vote?           You are entitled to vote if you owned the Shares on the record date ("Record Date"), which is the close of business on April 26, 2019.  Each Share that you own entitles you to one vote. How Many Shares of Voting Stock Are Outstanding?           On the Record Date, there were 11,052,235 Shares outstanding.  The Shares are our only class of voting stock. What May I Vote On? 1. Adoption of Audited Financial Statements2. Approval of Appointment of Auditors3. Approval of Directors' Remuneration4. Approval for Authority to Allot and Issue Shares5. Approval for Share Purchase Mandate Other Business How Do I Vote?           To vote by proxy, you should complete, sign and date the enclosed proxy card and return it promptly in the prepaid envelope provided. Electronic Delivery of Future Proxy Materials           If you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the internet. To sign up for electronic delivery, please go to http://www.proxyvote.com to indicate that you agree to receive or access proxy materials electronically in future years. May I Revoke My Proxy?           Your proxy may be revoked prior to its exercise by appropriate notice to the undersigned. If I Plan To Attend The Meeting, Should I Still Vote By Proxy?           Whether you plan to attend the meeting or not, we urge you to vote by proxy.  Returning the proxy card will not affect your right to attend the meeting, and your proxy will not be used if you are personally present at the meeting and inform the Secretary in writing prior to the voting that you wish to vote your Shares in person. How Will My Proxy Get Voted?           If you properly fill in your proxy card and send it to us, your proxy holder (the individual named on your proxy card) will vote your Shares as you have directed.  If you sign the proxy card but do not make specific choices, the proxy holder will vote your Shares as recommended by the Board of Directors and the Company's management. How Will Voting On Any Other Business Be Conducted?           Although we do not know of any business to be considered at the meeting other than the proposals described in this proxy statement, if any other business is presented at the meeting, your returned proxy gives authority to the proxy holder to vote on these matters in his discretion. Proposal 1.            ADOPTION OF AUDITED FINANCIAL STATEMENTS           The Company seeks shareholders' adoption of the audited financial statements of the Company (the "Audited Financial Statements"), which have been prepared under Financial Reporting Standards in Singapore ("FRSs") , in respect of the financial year ended December 31, 2018. Along with the Audited Financial Statements, the Company seeks Shareholders' adoption of the  Statement by the Directors and Auditor's Report of the Company in respect of the same financial year.           Adoption of this proposal requires the affirmative vote of a majority of the votes cast by shareholders entitled to vote at the Twentieth Annual General Meeting of the Company ("AGM").           The Board of Directors of the Company (the "Board of Directors") recommends a vote FOR this proposal. Proposal 2.            APPROVAL OF APPOINTMENT OF AUDITORS           The Company seeks Shareholders' approval for the appointment of Deloitte & Touche and Deloitte & Touche LLP as the independent external auditors of the Company to hold such office until the conclusion of the next Annual General Meeting of the Company. The Board of Directors also seeks shareholders' approval to authorize the Board of Directors to fix the remuneration for Deloitte & Touche and Deloitte & Touche LLP in respect of their service to the Company for the financial year ended December 31, 2019.           Adoption of this proposal requires the affirmative vote of a majority of the votes cast by shareholders entitled to vote at the AGM.           The Board of Directors recommends a vote FOR this proposal. Proposal 3.            APPROVAL OF DIRECTORS' REMUNERATION           The Company seeks shareholders' approval on the remuneration of Directors in an aggregated amount not exceeding US$350,000 in respect of their professional services to the Company until the conclusion of the next Annual General Meeting of the Company.           Adoption of this proposal requires the affirmative vote of a majority of the votes cast by shareholders entitled to vote at the AGM.           The Company's management recommends a vote FOR this proposal. Proposal 4.            APPROVAL FOR AUTHORITY TO ALLOT AND ISSUE SHARES           The Company is incorporated in Singapore. Under the Companies Act, Chapter 50 of Singapore (the "Companies Act"), the Directors may exercise any power of the Company to issue new Shares only with the prior approval of the shareholders of the Company at a general meeting. Such approval, if granted, is effective from the date of the general meeting at which the approval was given until the date on which the next Annual General Meeting of the Company is held or is required by law to be held, whichever is earlier.           Shareholders' approval is sought to give Directors authority to allot and issue new Shares and other instruments convertible into Shares during the period from the Twentieth Annual General Meeting to the earlier of the next Annual General Meeting or the date by which the next Annual General Meeting of the Company is required by law to be held.           Adoption of this proposal requires the affirmative vote of a majority of the votes cast by shareholders entitled to vote at the AGM.           The Board of Directors recommends a vote FOR this proposal. Proposal 5.            APPROVAL FOR SHARE PURCHASE MANDATE           The approval of the Share Purchase Mandate authorizing the Company to purchase or acquire its Shares would give the Company the flexibility to undertake share purchases or acquisitions at any time, subject to market conditions, during the period when the Share Purchase Mandate is in force.           In managing the business of the Company and its subsidiaries (the "Group"), the Company's management strives to increase shareholders' value by improving, inter alia, the return on equity of the Group. A share purchase by the Company is one of the ways through which the return on equity of the Group may be enhanced.           A Share purchase is also an available option for the Company to return surplus cash which is in excess of the financial and possible investment needs of the Group to its shareholders. In addition, the Share Purchase Mandate will allow the Company to have greater flexibility over, inter alia, the Company's share capital structure and its dividend policy.            The Company intends to use internal sources of funds or external borrowings or a combination of both to finance the Company's purchase or acquisition of the Shares pursuant to the Share Purchase Mandate.  The Directors do not propose to exercise the Share Purchase Mandate to such extent that it would materially and adversely affect the financial position of the Group.           Share repurchase programmes may also help buffer short-term share price volatility and off-set the effects of short-term speculators and investors and, in turn, bolster shareholder confidence and employee morale.           Adoption of this proposal requires the affirmative vote of a majority of the votes cast by shareholders entitled to vote at the AGM.           The Board of Directors recommends a vote FOR this proposal. OTHER MATTERS           As of the date of this Proxy Statement, the Company does not intend to present and has not been informed that any other person intends to present any business not specified in this Proxy Statement for action at the Twentieth Annual General Meeting.           Shareholders are urged to sign the enclosed proxy form and to return it promptly in the enclosed envelope. Proxies will be voted in accordance with shareholders' directions. Signing the proxy form does not affect a shareholder's right to vote at the Twentieth Annual General Meeting, and the proxy may be revoked prior to its exercise by appropriate notice to the undersigned. PROXY SOLICITATION           The Company will pay the cost of preparing and mailing this proxy statement and form of proxy to its shareholders. The Company has retained Mackenzie Partners, Inc. to request banks and brokers to forward copies of these materials to persons for whom they hold Shares and to request authority for execution of the proxies.   GIGAMEDIA LIMITED /s/ Cheng-Ming Huang………………………………………..Cheng-Ming Huang (aka James Huang)Chairman of the Board and Chief Executive Officer   View original content:http://www.prnewswire.com/news-releases/notice-of-the-twentieth-annual-general-meeting-of-shareholders-300856867.htmlRelated Links :http://www.gigamedia.com
  • Users Rule Under Huobi's New FastTrack Listing Model
    FastTrack also provides discounts of approximately 50% off the market value of launched coins to lucky participants. SINGAPORE, May 25, 2019 /PRNewswire/ -- Starting next month, users will get a direct say in what projects are listed and when on Huobi Global. Huobi Prime rebrands to FastTrack Huobi has revamped and upgraded the business model for Prime Lite, its streamlined launch program for quality crypto projects. Along with that change comes a rebrand and a new name. Going forward, Prime Lite will be known as Huobi FastTrack and, under this new concept, the rules are more favourable to users. "Huobi FastTrack's structure grew out of three of Huobi's guiding values," said Livio Weng, CEO of Huobi Global. "First, it serves our mission of giving users maximum choice about when and how they can trade; second, it provides much needed exposure to deserving projects; third, it gives everyday traders – not just big fish and major players – exposure to those coins at competitive rates." Ross Zhang, Head of Marketing for Huobi Global, provided further insight on the reasons for the rebranding: "The decision to convert to FastTrack really grew out of a desire to be responsive to customers' needs," said Zhang. "While many of our users liked Prime Lite, others felt it resulted in too few coins being distributed to too many users, with the result most only got a small proportion of the coins they desired. We also found that too many users were confused by the differences between Huobi Prime, our innovative coin launch platform for emerging new premium coins, and Prime Lite, which was intended as its streamlined cousin." In addition to allowing users to vote on what projects they want to see listed (and when) on Huobi Global using Huobi Token (HT), FastTrack also provides discounts of approximately 50% off the market value of launched coins to supporters who vote for them. Huobi FastTrack is scheduled to launch in June. How Does Huobi FastTrack Work? Huobi Global will announce five projects for Huobi FastTrack listing each month. Using HT, users will get a chance to vote for the projects on a weekly basis. Each user can cast his or her votes for a single project every week. The project that gets the highest number of votes will be listed on Huobi Global the same day voting takes place.   Free trading of the winning project token will open upon completion of each week's voting session, with the simultaneous launch of USDT, BTC and HT trading pairs. All participating HT voters who voted for a winning project in any given week will be eligible to purchase its tokens at around 50% off market price using the HT they voted with. Of this group, 10 lucky winners will be able to exchange all their HT votes for the winning token. The rest will be able to buy discounted tokens based on the remaining token supply in proportion to their HT votes. Users will need to hold at least 1,000 HT daily over the week proceeding a Huobi FastTrack launch in order to qualify for voting. The candidacy of any project that fails to win majority vote in a given month will be rolled over to the following month. Any project that fails to win a majority of votes over a two-month period will be eliminated from the Huobi FastTrack program. All HT used in the voting phase that is not subsequently used in trading will be returned to users after the Huobi FastTrack launch ends. The HT used by winning voters for token purchases will be burned. What Is The Benefit To Users, Projects, And HT Holders? In addition to providing winning voters with access to quality tokens at below market rates, Huobi FastTrack provides all participants with a direct say in what projects are listed on Huobi Global and when. The program will also benefit many deserving projects by providing both much needed exposure and a straightforward listing process. Finally, because all HT spent by winning voters is subsequently burned by Huobi, FastTrack will benefit our long-term HT holders. How Are Projects Selected For Consideration? All candidates for FastTrack listing must undergo Huobi's rigorous SmartChain 2.0 vetting and evaluation process. In addition, successful FastTrack candidates must possess the following: The token must have a healthy trading volume and strong community support. Projects must have a stable secondary market price on major exchanges. Projects must be willing to distribute the equivalent of at USDT 500,000 or more tokens at  approximately 50% discount. Project must be willing to develop jointly with Huobi, allowing for all exchanged HT tokens during FastTrack to be burned. Projects that meet our listing criteria can submit their project for listing to our dedicated FastTrack Business Support team via Listing@huobi.com. Huobi FastTrack will work as a complement to, rather than a replacement of, the full version of Huobi Prime and regular listings on Huobi Global.   For more info: http://bit.ly/2YLzxsF Disclaimer: Huobi will not, under any circumstances,  provide any trading or financial advice and Huobi users should conduct independent analysis including, where appropriate, taking third party legal, tax and financial advice.  Huobi is limited to users from jurisdictions where digital asset trading is a permissible activity and no regulatory restrictions apply. About Huobi: Consisting of ten upstream and downstream enterprises, Huobi Group is the world's leading blockchain company. Established in 2013, Huobi Group's accumulative turnover exceeds $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries. Find out more at http://www.hbg.com  For enquiries please contact: Jiayi Li +65 9229 5769 media@huobi.com   Photo - https://photos.prnasia.com/prnh/20190525/2477552-1
  • 111 to Collaborate with MSH to Build Internet Pharmaceutical and Healthcare Service Closed-loop System
    SHANGHAI, May 24, 2019 /PRNewswire/ -- Following 111, Inc.'s (NASDAQ: YI) ("111" or the "Company") strategic partnership with Manulife-Sinochem last year, the Company has reached another milestone. On May 24, 111 and MSH, a world leader in the design and management of international healthcare solution, announced a strategic partnership aiming to combine resources to establish a comprehensive "diagnosis + medication + payment" Internet pharmaceutical and healthcare service closed-loop system by launching online diagnoses, prescription purchase and delivery, refills, health monitoring, patient management services, and enhance the pharmacy benefit management ("PBM") model. Currently, the percentage of patients with chronic diseases in China continues to increase rapidly due to factors such as an intensive aging population and environmental pollution. Given the high number of chronically ill patients in China, the need for long term medications, high drug prices, and reliance on physician refills, the "Internet + insurance" model will aim to lessen the burden of chronically ill patients by providing them with a new solution to purchase and refill medications. Dr. Gang Yu, Co-Founder and Executive Chairman of 111, expressed that, given the diverse geographical nature and online payment restrictions of China's healthcare system, commercial health insurance plans are becoming an important supplement. To resolve the shortage of medical resources and disproportionate distribution, our innovative "Internet + insurance" model will serve to ameliorate current healthcare pressures and to achieve win-win among users, insurance providers and our national healthcare system. He further summarized, "For chronical patients, we can deliver the 'fast refills + end-to-end delivery' through our closed-loop system, providing a convenient solution to reduce drug expenses while improving patient adherence and overall health. Insurance providers will be able to leverage our big data and advanced technologies to improve cost control, medication compliance efficiency and margin. Our system will also support customized products development, product strategies and precision marketing." Dr. Yu further added that the Company's strategic partnership with MSH and its strong client resources will help 111 accelerate the refinement of its Internet healthcare ecosystem for patients, deliver further breakthroughs for healthcare consumers, decision-makers, and payers, and further solidify 111 as the healthcare industry's technology enabler. As a leader in China's Internet pharmaceutical and healthcare industry, 111 has built an integrated online and offline healthcare new retail platform which includes 111's B2C pharmaceutical platform "1 Drugstore", online medical services internet hospital "1 Clinic", and online wholesale pharmacy "1 Drug Mall". The fully integrated online to offline platform effectively combines patient medical services with drugs, B and C-side clients, and direct sales platform through our innovative T2B2C model. The company aims to build an integrated online and offline healthcare ecosystem to empower doctors, pharmacies, hospitals and clinics, pharmaceutical companies and insurance companies. Celine Zhang, the founder and CEO of MSH CHINA, said, "111 has developed deep roots in the field of health and Internet medicine for many years, established unique competitive barriers through technological advantages, and improved the accessibility of quality medical services through Internet technology. The cooperation between MSH and 111 will place users at the center, explore the health, medical and insurance needs of middle and high-end consumers based on big data, jointly develop insurance products, and open up an integrated service channel around the ecological closed loop of medical and health services." About MSH CHINA Founded in 1974, MSH INTERNATIONAL is a world leader in the design and management of international healthcare solutions. Its four regional headquarters located in Paris, Toronto, Dubai and Shanghai, MSH INTERNATIONAL provides 24/7, round-the-clock assistance in 40 languages for its corporate clients and insured members across 200 countries. As the Asia pacific headquarter of MSH INTERNATIONAL, MSH CHINA has a professional service team consists of 550 staff, over 70 staff of whom have professional medical background. The average tenure of the core team is nearly 8 years. MSH is capable of providing clients with most thoughtful services in Chinese, English, French, Japanese, Korean and Cambodian. For more information on MSH, please visit http://www.mshasia.com/  About 111, Inc. 111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading integrated online and offline healthcare platform in China. The Company provides hundreds of millions of consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy and indirectly through its offline pharmacy network. 111 also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation and electronic prescription services. In addition to providing direct services to consumers through its online retail pharmacy, 111 also enables offline pharmacies to better serve their customers. The Company's online wholesale pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. The Company's new retail platform, by integrating the front and back ends of the pharmaceutical supply chain, has formed a smart supply chain, which transforms the flow of pharmaceutical products to pharmacies and modernizes how they serve their customers. For more information on 111, please visit http://ir.111.com.cn  For more information, please contact:111, Inc.IR DirectorMs. Monica Muir@111.com.cn  ChristensenIn China Mr. Christian Arnell Phone: +86-10-5900-1548 E-mail: carnell@christensenir.com In US Ms. Linda Bergkamp Phone: +1-480-614-3004Email: lbergkamp@christensenir.com  View original content:http://www.prnewswire.com/news-releases/111-to-collaborate-with-msh-to-build-internet-pharmaceutical-and-healthcare-service-closed-loop-system-300856555.htmlRelated Links :http://ir.111.com.cn
  • Five Directors of Golden Meditech Voluntarily Resigned Due to Personal Reasons
    New Members on Board, the Company's Major Shareholder Maintains Full Confidence in Future Business Development HONG KONG, May 24, 2019 /PRNewswire/ -- Golden Meditech Holdings Limited (SEHK stock code: 00801) ("Golden Meditech" or the "Company", together with its subsidiaries, the "Group"), a leading integrated healthcare enterprise in China, announced that, Mr Kam Yuen ("Mr Kam") and Mr Kong Kam Yu ("Mr Kong"), executive directors of the Company, Ms Zheng Ting ("Ms Zheng"), non-executive director, Professor Gu Qiao and Professor Cao Gang, independent non-executive directors, voluntarily resigned due to personal reasons. Mr Kam has resigned as chairman, chief executive, executive director and one of the authorised representatives of the Company; Mr Kong has resigned as executive director, company secretary and qualified accountant of the Company; Ms Zheng has resigned as one of the authorised representatives of the Company, all with effect from 24 May 2019. Mr Kam, the founder of the Company, initially established the Company with a single medical devices business and has transformed it into an integrated healthcare enterprise with businesses covering hospital, cells and tissues storage, genetic testing services and medical insurance administration. The board of directors of the Company (the "Board") is regretful to learn of his voluntary resignation and would like to take this opportunity to express sincere gratitude to him for his 18-year outstanding contribution since the Company was listed on the Stock Exchange of Hong Kong Limited in 2001. Mr Kong, Ms Zheng, Professor Gu Qiao and Professor Cao Gang had performed their duties with diligence for more than a decade. The Board also deeply regrets his/her voluntary resignation and would like to thank them for their valuable contributions. The Board is pleased to announce that all with effect from 24 May 2019, Mr Feng Wen, the Company's current executive director, has been appointed as chairman of the Company; Mr Leong Kim Chuan, the Company's current deputy chief financial officer, has been appointed as chief executive and executive director of the Company; Mr Poon Tsz Hang has been appointed as independent non-executive director of the Company. Additionally, the Board will recruit suitable senior professionals who have extensive resources and experiences in the healthcare industry to join the Company's senior management team and points out that the Company's business operations will proceed as usual. Mr Kam, the Company's major shareholder, has also expressed his full confidence in the future business development of the Group. About Golden Meditech Holdings Limited (SEHK stock code: 00801) Golden Meditech (www.goldenmeditech.com) is a leading integrated-healthcare enterprise in China. It is a first-mover in China, having established its dominant positions in several markets including the medical devices market and the hospital market in the healthcare industry, thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities. Going forward, Golden Meditech will continue to pursue a leading position in China's healthcare industry both through organic growth and strategic expansion.Related Links :http://www.goldenmeditech.com
  • Daiki Axis Co., Ltd. (4245, First Section, Tokyo Stock Exchange) Overview of Operating Performance for the First Three Months Ended March 31, 2019
    TOKYO, May 24, 2019 /PRNewswire/ -- Daiki Axis (TOKYO: 4245) is pleased to announce its results for the three months ended March 31, 2019. Summary of Results The Company has formulated a new medium-term management plan, "Make FOUNDATION Plan (Promote ESG)," for the fiscal years ending December 31, 2019 to 2021. The company started off the plan by transitioning to a company with an audit and supervisory committee and introducing an executive officer system. The Company's main business strategy is to focus on ensuring future revenue and profits through several initiatives. First, in the environmental equipment segment, the Company is bolstering sales overseas and strengthening the management of its recurring-revenue energy service company (ESCO) businesses in the areas of maintenance and water utilities. Second, Daiki Axis is transitioning toward growth businesses in the household equipment-related business segment. Third, in the renewable energy segment the company is working to realize a recycling society and striving to shore up stable revenue and profits. During the first three months of the fiscal year ending December 31, 2019, the Company generated net sales of JPY9,750 million (up 0.3% YoY), operating income of JPY470 million (up 23.1% YoY), ordinary income of JPY513 million (up 21.4% YoY) and profit attributable to owners of parent of JPY302 million (up 25.3% YoY). In the environmental equipment segment, sales of wastewater treatment systems were up year on year. Performance in Japan was affected by the posting of sales based on the percentage-of-completion-system for recognizing revenues on large-scale projects and the completion of five projects involving the sale of equipment in the water utilities business (excluding ESCO). Overseas sales rose as the Company made progress in cultivating distributors. Sales also grew year on year in the recurring-revenue energy service company (ESCO) businesses in the areas of maintenance and water utilities. Sales in the environmental equipment segment accordingly amounted to JPY5,668 million (up 17.3% YoY), and segment income (operating income) was JPY556 million (up 33.7% YoY). Sales and income were both down in the household equipment-related business segment. In construction-related sales, the Company saw few medium-sized or large projects, and sales of retail products through DIY stores were down due to lower sales to existing stores. Also, in the construction of residential machinery the company did not benefit from large scale store construction as it had in the preceding fiscal year. Consequently, segment sales in the household equipment-related business segment came to JPY3,523million (down 19.3% YoY), and segment income (operating income) sales were JPY89 million (down 45.5% YoY). In the renewable energy segment, sales of electricity from solar power generation rose significantly as the Company steadily commenced electricity sales. In addition, sales of biodiesel fuel were up year on year. The Company posted no sales results for the compact wind generation business. Consequently, segment sales came to JPY114 million (up 184.5% YoY), and segment income (operating income) was JPY22 million (a segment loss [operating loss] of JPY56 million in the same period of the previous year.) In other segments, construction sales in the engineering business were down year on year in the first quarter. Sales were essentially flat year on year in the household water drinking business. As a result, segment sales were JPY443 million (down 8.6% YoY), and segment income (operating income) was JPY30 million (down 50.9% YoY). Daiki Axis Co., Ltd. (4245, First Section, TSE) "Summary of Consolidated Financial Results for the Three Months Ended March 31, 2019" is available here:Summary of Consolidated Financial Results for the Three Months Ended March 31, 2019 Release Disclaimer This release is for the purpose of providing information to serve as a reference for investment decisions and not for the purpose of soliciting investment. Please you're your own judgment on final decisions such as investment policy, timing and selection. Please be advised that we do not assume any responsibility for damages caused by this service. Release InquiriesBorderless IR Co., Ltd.Sixth Floor, Toyo Building 1-2-10 Nihonbashi, Chuo-ku, Tokyo 103-0027 JAPAN TEL: +81-3-4588-6706 info@b-ir.co.jp Borderless IR specializes in the global distribution of IR content, including the dissemination of newsletters and annual reports providing the latest information and main strengths of Japanese companies directly to overseas investors through leading global media, corporate information database services and mailing lists. Borderless is also engaged in supporting other global IR efforts. ©Borderless IR Co., Ltd. All rights reservedThe content of this release may not be duplicated or reproduced. View original content:http://www.prnewswire.com/news-releases/daiki-axis-co-ltd-4245-first-section-tokyo-stock-exchange-overview-of-operating-performance-for-the-first-three-months-ended-march-31-2019-300856440.html
  • VT Holdings Co., Ltd. (7593, First Section, Tokyo Stock Exchange) Overview of Operating Performance for the Fiscal Year Ended March 31, 2019
    TOKYO, May 24, 2019 /PRNewswire/ -- VT Holdings Co., Ltd. (TOKYO: 7593) is pleased to announce its results for the Fiscal Year Ended March 31, 2019. Summary of Results In the core automotive business, domestic results were relatively strong during the fiscal year ended March 31, 2019. These robust results were due in part to the impact of new Honda models. Also, sales of Nissan vehicles equipped with e-POWER were favorable, as were sales of electric vehicles. Overseas, the Company acquired three subsidiaries in Spain and South Africa as operating companies from the previous fiscal year through the second quarter of the period under review and was able to add their sales to consolidated business results. The Group's total of new and second-hand cars sold in the period under review was 101,646, up 6,487 (6.8%) year on year. Meanwhile, performance remained favorable in the housing-related business as the Company received orders for condominium construction projects. However, performance by three consolidated subsidiaries fell below initial forecasts, causing the financial condition to deteriorate. Accordingly, the Company posted JPY872 million in impairment losses as an extraordinary loss. During the fiscal year ended March 31, 2019, VT Holdings recorded consolidated net sales of JPY218,634 million (up 8.2% YoY), operating income of JPY6,130 million (down 9.6%), ordinary income of JPY6,385 million (down 29.0%) and profit attributable to owners of parent of JPY2,674 million (down 29.0%). In the automotive business, sales were JPY209,087 million (up 8.3% YoY), and operating income was JPY5,568 million (down 12.9%). In the new car segment of the automotive business, the number of new cars sold groupwide domestically and internationally was 45,241 (up 12.9% YoY). Profitability declined, however, as the Company prioritized efforts to bolster unit sales by increasing the number of customers under management, bringing down unit profits on new-vehicle sales. In the used car segment, the number of second-hand cars sold for the entire Group was 56,405 (up 2.4% YoY), with used car sales and profits rising year on year. In the service segment of the automotive business, both existing and newly consolidated subsidiaries concentrated on boosting orders for routine and officially mandated checks, repairs and commission revenue. Consequently, although sales were down slightly, income increased. In the rent-a-car segment, sales and income both rose year on year thanks to solid operations at new and existing agencies alike. Sales in the housing-related business were JPY9,355 million (up 4.7%) YoY), and operating income was JPY918 million (up 24.9%). In the housing-related business, demand was firm and selling prices soared. Due to a thorough focus on marketing, the Company sold nine newly build condominium buildings containing 288 units, bringing its total number of concluded condominium agreements, including those on condominiums completed in inventory, to 243 (163 in the previous fiscal year), and the number of condominiums transferred to 199 (178 in the previous fiscal year). The condominium construction business was generally favorable, and the Company worked to expand orders for commercial facilities. In the fiscal year ending March 31, 2020, the Japanese government is planning to raise the consumption tax rate. Domestic automobile sales are likely to see a temporary demand surge ahead of the tax hike, falling off and causing the market to shrink once the higher taxes are in place. These fluctuations make the future difficult to forecast. Nevertheless, the Company will continue to concentrate on expanding new car sales, improving customer satisfaction, improving core sales and profits in the used-car and service segments, and striving to expand operations through M&A. For the fiscal year ending March 31, 2020, the company forecasts consolidated net sales of JPY225.0 billion, operating profit of JPY8.3 billion, profit before tax of JPY8.0 billion and profit attributable to owners of parent of JPY4.7 billion. Consolidated performance forecasts for the fiscal year ending March 31, 2020, are calculated in accordance with IFRS rather than conventional Japanese accounting standards. For the fiscal year ended March 31, 2019, the Company targeted a consolidated dividend payout ratio of 40%. This figure actually amounted to 87.8%, based on annual dividends per share of JPY20 (including a year-end dividend of JPY10 per share). The Company also plans to award interim and year-end dividends of JPY10 per share for the fiscal year ending March 31, 2020. VT Holdings Co., Ltd. (7593, First Section, TSE) "Summary of Consolidated Financial Results for the Year Ended March 31, 2019" is available here: http://www.vt-holdings.co.jp/eng/index.html Release Disclaimer This release is for the purpose of providing information to serve as a reference for investment decisions and not for the purpose of soliciting investment. Please make your own judgment on final decisions such as investment policy, timing and selection. Please be advised that we do not assume any responsibility for damages caused by this service. Release Inquiries Borderless IR Co., Ltd. Sixth Floor, Toyo Building 1-2-10 Nihonbashi, Chuo-ku, Tokyo 103-0027 JAPAN TEL: +81-3-4588-6706 info@b-ir.co.jp Borderless IR specializes in the overseas distribution of IR content, including the dissemination of newsletters and annual reports providing the latest information and main strengths of Japanese companies directly to overseas investors through leading global media, corporate information database services and mailing lists. Borderless is also engaged in supporting other global IR efforts. © Borderless IR Co., Ltd. All rights reservedUnauthorized reproduction of this release or any of its content is strictly prohibited. View original content:http://www.prnewswire.com/news-releases/vt-holdings-co-ltd-7593-first-section-tokyo-stock-exchange-overview-of-operating-performance-for-the-fiscal-year-ended-march-31-2019-300856445.html
  • Global Leaders Call for a New Playbook to Accelerate Progress on Gender Equality at P&G WeSeeEqual Summit
    Private and Public sector opinion leaders gathered in Singapore to share on dispelling 'myths' that hold women back at work and insights on how to level the field with men as allies Distinguished attendees include former Australia Prime Minister Julia Gillard and UN Women Regional Director for Asia and the Pacific, Mohammad Naciri The graduation ceremony for the 2019 cohort of P&G and WEConnect Int'l Women Entrepreneurs Development Program, was also held at the summit SINGAPORE, May 24, 2019 /PRNewswire/ -- Procter & Gamble (NYSE:PG) today hosted the second annual Asia Pacific #WeSeeEqual Summit, bringing together eminent figures from private and public sectors to share their point of view on the underrepresentation of women in leadership roles, and call out on the need as leaders to impact change and accelerate progress for gender equality. This year, the focus of the #WeSeeEqual discussion centered on leaders' key role in changing the narrative about women by challenging the assumptions that still exist -- "myths" around women's leadership skills, their representation in science, technology, engineering and mathematics (STEM), or their ambitions -- and creating a new playbook that goes beyond re-writing talent systems, driving equality-based policies and practices, to broadening  the current definition of leadership through the attention and action of both women and men alike. The long-day program saw the participation of  illustrious speakers, influential personalities and leaders from around the world, including Julia Gillard, former Prime Minister of Australia, Mohammad Naciri, UN Women Regional Director for Asia and the Pacific, Tiffany Dufu, author of Drop the Ball: Achieving More By Doing Less, Pocket Sun, Co-Founder and Managing Partner of SoGal Ventures, P&G executives and gender equality advocates Magesvaran Suranjan, P&G President, APAC and IMEA, Karl Preissner, P&G Leader, Global Diversity and Inclusion, and Balaka Niyazee, P&G VP of  Korea and Executive Sponsor, Gender Diversity, APAC. Balaka Niyazee, Vice President, P&G Korea, and Gender Equality Sponsor officiated the P&G APAC #WeSeeEqual Summit 2019 with a powerful speech on gender myths. Opening the session, Magesvaran Suranjan, said, "As a leader, it is imperative that we write a new playbook for a gender equal workplace and world. At P&G, I am proud that we have always been a strong advocate for gender equality and, today, we have a significant number of women in leadership positions in APAC and around the world. Gender equality goes beyond targets, quotas and sponsorship of women's development programs. We need new interventions to "Fix the System" and include men as inclusive and equality-minded leaders. The focus is on workplaces where men champion equality together with women. When more corporations and organizations commit to championing equality, then we will see equal." Magesvaran Suranjan, President, P&G Asia Pacific and Indian Subcontinent, Middle East and Africa, making his opening remarks at the P&G APAC #WeSeeEqual Summit 2019. Julia Gillard, who made history as the first female Prime Minister of Australia, says, "I am very pleased and honoured to support the gender equality commitment by P&G APAC to strengthen success for women in business and life.  I believe the WeSeeEqual movement is a force for change and progress towards gender equity and stronger communities." To encourage and inspire more men in their support of gender equality, the #WeSeeEqual Summit hosted male allies, including Ralph Haupter, President of Microsoft Asia and Tsuyoshi Morioka, CEO, Katana Inc to share their experiences in overcoming bias, spearheading greater diversity and equality, and being equal partners in the workplace and at home. Mohammad Naciri, UN Women Regional Director for Asia and the Pacific, says, "Gender equality is not only the right thing to do, it is the smart thing to do. We know when equality increases economies and communities do better. In order to achieve a more gender-equal society, the corporate sector plays a crucial role alongside governments and civil society in implementing policies and initiatives that support women. This is not a women's-only fight, but men, too, must play an active role in advocating for inclusivity and change." The various panel sessions covered gender equality in its many facets, including the importance of women's economic empowerment to reach to the UN Sustainable Development Goal (SGD) on Gender Equality, the role of advertising and media in changing bias, the benefits of professional and personal support groups in positively impacting work-life balance, and the importance of a new narrative with a broader definition of leadership that is not limited to the male leadership prototype. As a flagship event that highlights P&G's continued commitment to lead the change in gender equality both within the organization and outside in the community, the 2019 #WeSeeEqual Summit also hosted a milestone event for select women entrepreneurs in Singapore as they celebrated their graduation from P&G and WEConnect International Women Entrepreneurs Development Program. The ten-course capability training program, is part of P&G's long-term commitment to support women's economic empowerment by promoting a more diverse supply network under the global initiative 'Supplier Diversity Program' and ensure local businesses, especially those owned and led by women, are a growing part of P&G's partner ecosystem and global value chain. Please click on this link for more event photos in high-resolution: here About Procter & Gamble P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands. Photo - https://photos.prnasia.com/prnh/20190524/2476538-1-aPhoto - https://photos.prnasia.com/prnh/20190524/2476538-1-bRelated Links :www.pg.com
  • Kakao's Blockchain Project 'Klaytn' Holds Its First Blockchain Application Competition, 'Klaytn Horizon' with a $1 Million-Dollar Prize Pool
    Inviting all developers worldwide to participate via the official Klaytn Horizon webpage 1 million-dollar BApp competition runs until August 15, 2019 Looking for killer BApps to join Klaytn towards bringing blockchain mass adoption to fruition SEOUL, South Korea, May 24, 2019 /PRNewswire/ -- Klaytn, the blockchain platform of the leading South Korean mobile platform, Kakao is holding its very first BApp (Blockchain Application) competition until August 15th, virtually open to all developers worldwide. Klaytn Horizon $1,000,000 Online Competition Klaytn Horizon invites all developers to build BApps by utilizing the Klaytn platform. Any interested blockchain developers or other blockchain platform-based service providers may participate through the official Klaytn Horizon webpage. Klaytn uses the word 'BApp' to refer to blockchain-based applications rather than the popularized 'DApp' (Decentralized Application), in recognition of the fact that decentralization is just one of the many attributes that users will benefit from blockchain technology and from using Klaytn services as well. Accordingly, the judges will select and award BApps that have the potential to deliver practical blockchain service with meaningful values based on user-friendly blockchain experience to millions. The participants may enter the competition individually or within a team with no limit to the number of teammates. They may also build BApps to serve an industry of their preference, ranging from contents to entertainment, healthcare, finance, commerce, payment, lifestyle, technology, etc. With a prize pool of USD 1,000,000, which will be awarded in Klaytn's token, KLAY, a total of 15 teams, in 4 different tiers, will be selected. Tier 1 (the first five teams) will receive $100,000 each, while Tier 2 (the second five teams) and Tier 3 (the third five teams) will receive $50,000 and $30,000 each. The winners will be announced in late September. There will also be KLAY airdrop events to encourage developers to participate. Jason Han, the CEO of Ground X, heading the development and operation of the Klaytn platform said, "Our Klaytn Horizon is designed in a way to expand our ecosystem and also discover great blockchain service providers for possible partnership opportunities with us." He added, "We hope to see many developers join Klaytn's efforts towards driving mainstream adoption of blockchain services." Further, 'Klaytn Build Program,' set to kick off on May 30th, invites developers to create developer tools that enhance the Klaytn platform usability. The official announcement can be found on Klaytn's medium page. Klaytn plans to run more programs that invite developers to contribute to the platform. [About Klaytn]Klaytn is a public blockchain platform of the leading South Korean mobile platform, Kakao. Dedicated to validating the value and utility of blockchain technology by providing a blockchain service for mass adoption, Klaytn provides an easy development environment and friendly user experience. Klaytn seeks to continue advancing the platform to offer blockchain services for millions of users. For more information, visit:https://klaytn.comhttps://medium.com/klaytnhttps://twitter.com/klaytn_official Photo - https://photos.prnasia.com/prnh/20190524/2477242-1 Related Links :https://klaytn.com
  • JMU Receives Notification of Deficiency From Nasdaq Relating to Delayed Filing of Annual Report on Form 20-F
    SHANGHAI, May 24, 2019 /PRNewswire/ -- JMU Limited (the "Company" or "JMU") (NASDAQ: JMU), a B2B online e-commerce platform that provides integrated services to suppliers and customers in the foodservice industry in China, today announced it has received a notice from Nasdaq stating that, as a result of not having timely filed its annual report on Form 20-F for the year ended December 31, 2018, JMU is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission (the "Commission"). The Company is required by Nasdaq to submit its plan to regain compliance no later than May 31, 2019. If the plan is accepted by Nasdaq, the Company can be granted up to 180 calendar days from the Form 20-F's due date, or until November 11, 2019, to regain compliance. On April 30, 2019, the Company filed a Notification of inability to timely file Form 20-F on Form 12b-25 due to the Company's need for additional time to finalize Form 20-F due to the change of Company's independent auditor. JMU continues to work diligently to complete the Form 20-F and file it with the Commission as soon as reasonably practicable. The Company expects to submit a plan to regain compliance or file its Form 20-F within the timeline prescribed by Nasdaq. In addition, Nasdaq is requesting information regarding changes to the Company's independent auditor, which the Company announced in a press release dated April 9, 2019. About JMU Limited JMU Limited is a B2B e-commerce platform that provides integrated services to suppliers and customers in the foodservice industry in China. For more information, please visit: http://ir.ccjmu.com. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbour" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "estimate," "expect," "going forward," "intend," "ought to," "plan," "project," "potential," "seek," "may," "might," "can," "could," "will," "would," "shall," "should," "is likely to," and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about JMU's beliefs and expectations, the business outlook and quotations from management in this announcement, as well as JMU's strategic and operational plans, are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: The general economic and business conditions in China may deteriorate. The growth of Internet and mobile user population in China might not be as strong as expected. JMU's plan to enhance customer experience, upgrade infrastructure and increase service offerings might not be well received. JMU might not be able to implement all of its strategic plans as expected. Competition in China may intensify further. All information provided in this press release is as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date, and JMU does not undertake any obligation to update any forward-looking statement, except as required under applicable law. Contact: Zhengzhen LiJMU Limitedlizhengzhen@ccjmu.comTel: +86 (021) 6015-1166, ext. 8904 View original content:http://www.prnewswire.com/news-releases/jmu-receives-notification-of-deficiency-from-nasdaq-relating-to-delayed-filing-of-annual-report-on-form-20-f-300856446.htmlRelated Links :http://ir.ccjmu.com
  • WeBank and Swiss Re Signed Cooperation MOU
    SHENZHEN, China, May 24, 2019 /PRNewswire/ -- WeBank and Swiss Reinsurance Company Beijing Branch held a MOU signing ceremony recently in Beijing inaugurating their partnership to research and explore the application of Federated Learning in the field of reinsurance. The MOU was signed by Qiang Yang, Chief Artificial Intelligence Officer (CAIO) of WeBank, and John Chen, President of Swiss Re China, at the ceremony. Qiang Yang, CAIO of WeBank (left) and John Chen, President of Swiss Re China (right) The cooperation focuses on Federated Learning, one of the latest developments in the world of artificial intelligence. WeBank and Swiss Re will work together to explore how Federated Learning can address the challenges imposed by data silos, enhancing the further development of the insurance industry. Federated Learning is an encrypted and distributed machine learning approach which enables training for joint machine learning on decentralized data, wherein no data transmission is required for participants. This new approach builds training models that are in compliance with data security requirements enhancing the outcome of machine learning. As an emerging AI technology, Federated Learning is expected to form the basis of the next generation of AI-powered collaboration networks. Under the leadership of Qiang Yang, WeBank is leading the development of Federated Learning in China. WeBank's AI team created "Federated AI Technology Enabler (FATE)", the world's first industrial-level open-source technical framework and pioneered the development of Federated Learning standards (IEEE standard) to promote interdisciplinary and intercompany cooperation, supporting the federated AI ecosystem across industries. As an industry-leading expert in technological innovation and advanced technologies, Swiss Re has abundant experience in advanced machine learning. The cooperation established between the two parties signifies Swiss Re's commitment in partnership with WeBank and exploring the commercial application of Federated Learning in business scenarios commonly found in insurance, reinsurance and other financial sectors. This partnership will lay a solid foundation for the cultivation of new businesses supported by Federated Learning, thus encouraging the industry to adopt and apply new frameworks to improve the technological innovation capacity of insurance solutions. John Chen, President of Swiss Re China, said, "As a leading international reinsurance company, Swiss Re has accumulated 155 years of experience in risk management and data analysis. Our cooperation with WeBank is undoubtedly an innovative partnership in the area of Federated Learning, a specialized field in AI. I believe our strong partnership will greatly accelerate the development of the data sharing and data utilization, and contribute to the upgrade of the pricing model as well as the innovation of products and services." Yang Qiang, CAIO of WeBank said that, "We are pleased with the cooperation between WeBank and Swiss Re. With a global perspective and an abundant accumulation of business scenarios, Swiss Re can offer new insights for the research and application of Federated Learning. We hope that the two sides can leverage on their respective strengths in building a federated ecosystem for the reinsurance industry." About WeBank WeBank is China's privately-owned and digital-only bank, as well as the first commercial bank recognized as a National High-tech Enterprise. WeBank strongly embraces the oft-stated 'ABCD' technologies (A.I., Blockchain, Cloud Computing, Big Data) as its strategic focuses and has achieved many results in new technology R&D and the application of technologies in the financial industry. About Swiss Re The Swiss Re Group is one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk  - from natural catastrophes to climate change, from ageing populations to cyber crime. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally. Swiss Re established its representative office in China in 1995, and officially set up the Beijing branch in 2003, now providing a full range of reinsurance products and services across the country. Contact:Zhang Xianroezhang@webank.com+86-18503053326 Photo - https://photos.prnasia.com/prnh/20190524/2477367-1
  • CIMC MBS starts construction of Hong Kong's first modular building for permanent use
    SHENZHEN, China, May 24, 2019 /PRNewswire/ -- Chinese modular building provider CIMC Modular Building Systems Holding Co Ltd (CIMC MBS) has started construction of Hong Kong's first modular building project for permanent use on May 20, marking a milestone in application of the new construction method in the metropolis. The InnoCell project showroom at Hong Kong Science Park The InnoCell project is an on-site residential building aimed at providing working space-cum-temporary accommodations for companies and incubatees working at Hong Kong Science Park. It will provide more than 400 residential units of accommodation for talent and incubatees from the Science Park. While the first and second floor of the 17-storey building will use traditional construction method, the rest will apply the innovative construction approach of modular construction. Modular construction is a type of prefabricated building model. Instead of doing all the construction work on-site, it allows more than 90 percent of a building project to be finished in the factory, significantly saving construction time and reducing construction waste. According to CIMC MBS, construction time of InnoCell is expected to be reduced by 30 percent. Construction of the project is expected to be completed by 2020. "By building construction projects in Hong Kong, we not only show the local government and the local industry our unique advantages in modular construction technology, but also, we have become more familiar with the city's regulations in design, examination and approval, acceptance specification," Victor Zhu, general manager of CIMC MBS, said, "With more than ten years of experience in the global market, we are able to provide our Hong Kong customers with high quality services. This is what our customers value most and the primary reason that we won the bidding." Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor said, the prefabricated building model helps solve challenges facing Hong Kong's construction industry at the current time, including the lack of construction workers, the need to improve safety of construction site and enhance productivity. Lam said adopting the new approach in the construction of InnoCell is in line with her policy of encouraging the industry to use innovative technologies and is a new milestone in promoting technological application in the field. The city will further expand the usage of modular construction in other projects in the future, she added. CIMC MBS has been making efforts on helping Hong Kong transform and upgrade its construction industry in recent years. In November 2018, the company finished construction of the city's first modular building facility at Zero Carbon Building. The facility is for display, not for permanent use. InnoCell, as Hong Kong's first such project for permanent use, has a significant meaning to the innovative development of the city's construction industry, Zhu noted. That means CIMC MBS has successfully marched into Hong Kong market and laid a solid foundation for its growing presence there, he said. "As Hong Kong government steps up efforts to promote the application of modular building in the city, we will have a wider space for growth, enabling us to make greater contributions to the transformation and upgrade of Hong Kong's construction industry," Zhu said. View original content to download multimedia:http://www.prnewswire.com/news-releases/cimc-mbs-starts-construction-of-hong-kongs-first-modular-building-for-permanent-use-300856474.html
  • Announcement of Intention to Delist American Depositary Shares From the New York Stock Exchange
    And Intention to Deregister and Terminate Reporting Obligations Under the U.S. Securities Exchange Act SHANGHAI, May 24, 2019 /PRNewswire/ -- Semiconductor Manufacturing International Corporation ("SMIC" or the "Company"; NYSE: SMI; SEHK: 981) today announced that the Company has notified the New York Stock Exchange ("NYSE") on May 24, 2019 (Eastern Time in the U.S.) that it will apply for the voluntary delisting of its American depositary shares ("ADSs") from the NYSE and the deregistration of such ADSs and underlying ordinary shares under the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Board of Directors of SMIC approved the delisting of its ADSs from NYSE and the deregistration of such ADSs and the underlying ordinary shares under the Exchange Act due to a number of considerations, including the limited trading volume of its ADSs relative to its worldwide trading volume, and the significant administrative burden and costs of maintaining the listing of the ADSs on the NYSE, the registration of the ADSs with the United States Securities and Exchange Commission (the "SEC") and complying with the periodic reporting and related obligations of the Exchange Act. As such, SMIC intends to file a Form 25 with the SEC on or about June 3, 2019 to de-list its ADSs from the NYSE. The delisting of the ADSs from the NYSE is expected to become effective ten days thereafter. The last day of trading of the ADSs on the NYSE will be on or about June 13, 2019. From and after that, SMIC will no longer list its ADSs evidenced by American Depositary Receipts ("ADRs") on the NYSE. Once the delisting has become effective and SMIC has met the criteria for deregistration, SMIC intends to file a Form 15F with the SEC on or about June 14, 2019 to deregister its ADSs and the underlying ordinary shares under the Exchange Act. Thereafter, all of SMIC's reporting obligations under the Exchange Act will be suspended unless the Form 15F is subsequently withdrawn or denied. Deregistration with the SEC and termination of SMIC's reporting obligations under the Exchange Act are expected to become effective 90 days after its filing of Form 15F with the SEC. Once the Form 15F is filed, SMIC will publish the information required under Rule 12g3-2(b) of the Exchange Act on its website, www.smics.com. SMIC will also continue to comply with its financial reporting and other obligations as a listed-issuer under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). After delisting its ADSs from the NYSE, SMIC remains committed to serve its investor and intends to maintain its ADR program as a Level I program, which will enable American investors and current holders of SMIC ADSs to continue to hold and trade SMIC ADSs in the US over-the-counter market. As a result of the delisting of the ADSs, the trading of SMIC's securities will be concentrated on SMIC's primary market (The Stock Exchange of Hong Kong Limited). SMIC reserves its rights in all respect to delay or withdraw the aforementioned filings prior to their effectiveness and will issue any further announcement if required under the Listing Rules or other applicable laws. SMIC has filed with the SEC its annual report on Form 20-F for the year ended December 31, 2018.  The annual report is available on its website at http://www.smics.com.  SMIC will provide hard copies of the annual report, free of charge, to its shareholders and ADS holders upon request. About SMIC Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981), one of the leading foundries in the world, is Mainland China's largest foundry in scale, broadest in technology coverage, and most comprehensive in semiconductor manufacturing services. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometer. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm fab in Shanghai; a 300mm fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin; additionally, in Italy SMIC has a majority-owned 200mm fab. SMIC also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong. CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This press release may contain, in addition to historical information, "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward- looking statements are based on SMIC's current assumptions, expectations and projections about future events. SMIC uses words like "believe", "anticipate", "intend", "estimate", "expect", "project" and similar expressions to identify forward looking statements, although not all forward-looking statements contain these words. These forward-looking statements are necessarily estimates reflecting judgment of SMIC's senior management and involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense competition, timely wafer acceptance by SMIC's customers, bad debt risk, timely introduction of new technologies, SMIC's ability to ramp new products into volume, supply and demand for semiconductor foundry services, industry overcapacity, shortages in equipment, components and raw materials, availability of manufacturing capacity and financial stability in end markets. Except as required by law, SMIC undertakes no obligation and does not intend to update any forward-looking statement, whether as a result of new information, future events or otherwise. For more information, please visit http://www.smics.com. Contact: Investor Relations +86-21-2081-2804 ir@smics.com Related Links :http://www.smics.com
  • Maison Perrier-Jouet and Winnie Harlow Turn the amfAR Gala Cannes Red Carpet Green With an Extravagant Creation Inspired by Unbridled Nature
    CANNES, France, May 24, 2019 /PRNewswire/ -- Driven by the free spirit of its founders and its relationship with Art Nouveau, Maison Perrier-Jouet has cultivated creative liberty and an unconventional observation of nature for over 200 years. The House has always lived by this philosophy, which elevates its champagnes into an experience. Winnie Harlow in front of the Perrier-Jouet tree designed by Bethan Laura Wood   jwplayer.key="3Fznr2BGJZtpwZmA+81lm048ks6+0NjLXyDdsO2YkfE="   jwplayer('myplayer1').setup({file: 'https://www.youtube.com/watch?v=O7tYhIUjk8E', image: 'http://www.prnasia.com/video_capture/2662772_AE62772_1.jpg', autostart:'false', aspectratio: '16:9', stretching : 'fill', width: '512', height: '288'}); To view the Multimedia News Release, please click: https://www.multivu.com/players/uk/8550851-maison-perrier-jouet-winnie-harlow-cannes/ This is how the House came to unite two of its Artisans of the Wild, Winnie Harlow and Richard Quinn, in an exclusive dialogue revolving around nature and creation. The fashion designer dreamed up an extravagant dress for the model, inspired by the House's Art Nouveau heritage. The resulting creation is uniquely adorned with a vibrant motif of reinvented nature, which was meticulously embroidered by hand. A stand-out detail is the presence of the Japanese anemone drawn for the House in 1902 by Emile Galle, one of the masters of the Art Nouveau movement. This flower is emblematic to the House, embodying its vision of vivid, magnetic, unbridled nature which re-enchants the everyday. Unveiling this remarkable creation required an equally remarkable event. As such, Winnie Harlow took the amfAR Gala Cannes on 23rd May as an opportunity to get dressed up and cause a sensation. Video - https://youtu.be/O7tYhIUjk8E  Photo - https://mma.prnewswire.com/media/892414/Winnie_Harlow_Perrier_Jouet_Tree.jpg
  • Aero events boost general aviation industry in Wuhan
    WUHAN, China, May 24, 2019 /PRNewswire/ -- The World Fly-in Expo (WFE) was held in a general aviation airport in Wuhan, capital of central China's Hubei Province, from May 18 to 22. Aerobatic shows featuring powered gliders, parachutists and stunt landing brought a feast for aerophiles from near and far, according to the Information Office of Wuhan Economic and Technological Development Zone. Fan Dawei, pilot of a powered glider, led the wild geese he fed while performing for the opening ceremony of WFE on May 18. "It feels so good to fly. So this time I brought my friends to experience what it feels like to be flying," said Mr. Zhou, a Wuhan citizen. He tried wind tunnel two years ago, and was obsessed with the sport. Top flight events have promoted flight culture among the public. The first WFE, held in Wuhan in 2017, set the audience record of nearly 500,000 in just four days. Wuhan, with its advantageous location, strong industrial base, and a large number of general aviation sports consumers, is a state-supported national central city. In 2017, FAI, CATA and the city of Wuhan signed a memorandum of cooperation, making the city a regular host of international air sports events. Wuhan has hosted air events including the WFE and RENO International Championship Air Races for three consecutive years since 2017. The sky is the limit for the city's general aviation industry. Li Zhengmei, deputy head of the Aero Sports Federation of China, said according to the international criterion, a country with a per capita GDP of 4,000 USD is capable of aviation sports products consumption. Currently China has a per capita GDP of nearly 10,000 USD, which brings a huge market potential for aviation sports industry. "Demand breeds supply. Aero events bring more people to get to know about aviation and fall for it, which extends the general aviation industry chain," said an official representing the economic and technological development zone of Wuhan. The development zone has drafted a specific plan for the promotion of the aviation industry, including hosting related expos and events, building aero communities and campsites, so as to promote local industrial restructuring and upgrading. Official statistics show that the development zone has landed 13 projects relating to general aviation since the first WFE in 2017, with a total contract volume of 31.7 billion yuan (1 USD equals 6.91 yuan). Wuhan-based Wenfa Aerospace invested an industrial park in the development zone in April. After acquiring a German aircraft company, Wenfa introduced three sport aircraft, which are expected to be put into production next year and meet the public soon. Industry and events complement each other. Wuhan will host the 114th plenary session of FAI, scheduled in October 2020, during which over 100 member units of FAI will gather in Wuhan to discuss future development of general aviation industry. The development zone administration has planned to attract investment focused on general aviation industry, making an effort to introduce projects of general aircraft, UAV, key components, air operation and support, as well as general satellite. The local government aims to tap market potential with more top aero events, improve business environment with favorable policies, and build Wuhan a city of air sports in China. Image Attachments Links:http://asianetnews.net/view-attachment?attach-id=336936 View original content to download multimedia:http://www.prnewswire.com/news-releases/aero-events-boost-general-aviation-industry-in-wuhan-300856479.html
  • GreenTree Hospitality Group Ltd. Reports First Quarter of 2019 Financial Results
    A total of 2,829 hotels with 225,757 hotel rooms were in operation as of  March 31, 2019, compared to 2,757 hotels and 221,529 hotel rooms as of December 31, 2018. Total revenues increased 20.1% from the first quarter of 2018 to RMB235.3 million (US$35.1 million)[1] for the first quarter of 2019. Adjusted EBITDA (non-GAAP) increased 20.0% from the first quarter of 2018 to RMB133.9 million (US$19.9 million)[1] for the first quarter of 2019. Net income increased 58.8% from the first quarter of 2018 to RMB134.0 million (US$20.0 million)[1] for the first quarter of 2019. Core net income (non-GAAP) increased 18.0% from the first quarter of 2018 to RMB92.3 million (US$13.7 million)[1] for the first quarter of 2019. Basic and diluted net income per ADS were RMB1.33 (US$0.20)[1] for the first quarter of 2019. Basic and diluted core net income per ADS (non-GAAP) were RMB0.91 (US$0.14)[1] for the first quarter of 2019. As of March 31, 2019, the Company had a strong pipeline with a total of 481 hotels contracted for or under development. During the first quarter of 2019, the Company opened 101 F&M hotels and one L&O hotel, compared to 80 F&M hotels for the first quarter of 2018. As of March 31, 2019, the Company had approximately 33 million individual loyal members (of which approximately 23 million are paid members) and over 1,320,000 corporate members, compared to approximately 29 million (of which approximately 21 million are paid members) and over 1,270,000 corporate members respectively, as of December 31, 2018. The Company sold approximately 94.2% of its room nights through its direct sales channels, including its individual loyal members and corporate members. The Company reaffirms guidance for growth in full year 2019 total revenues of 20-25% from 2018. SHANGHAI, May 24, 2019 /PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree", the "Company", "we", "us" and "our"), a leading franchised hotel operator in China, today announced its unaudited financial results for the first quarter ended March 31, 2019. First Quarter of 2019 Operational Highlights As of March 31, 2019, GreenTree had 30 leased-and-operated ("L&O") hotels and 2,799 franchised-and-managed ("F&M") hotels in operation in 292 cities across China, compared to 29 L&O hotels and 2,728 F&M hotels in operation in 290 cities as of December 31, 2018. The geographical coverage of cities grew by 26 year-over-year, representing an increase of 9.8%. The Company opened 101 F&M hotels and one L&O hotel, 44 in the mid-scale segment, 14 in the business to mid-to-up-scale segment, 44 in the economy segment. Of the hotels opened, 6 hotels were in Tier 1 cities[2], 20 in Tier 2 cities[3] and the remaining 76 hotels in other cities in China, while the Company closed a total of 30 F&M hotels in the quarter. As of March 31, 2019, the Company had a strong pipeline with a total of 481 hotels contracted for or under development. The average daily room rate, or ADR, for all hotels in operation, was RMB162 in the first quarter of 2019, an increase of 3.9% year-over-year. The occupancy rate for all hotels in operation was 78.1% in the first quarter of 2019, a decrease of 1.1% year-over-year. The revenue per available room, or RevPAR, which is calculated by multiplying our hotels' ADR by its occupancy rate, was RMB127 in the first quarter of 2019, representing a 2.5% year-over-year increase.   [1] The conversion of Renminbi ("RMB") into United States dollars ("US$") is based on the exchange rate of US$1.00=RMB6.7112 on March 29, 2019 as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at https://www.federalreserve.gov/releases/h10/20190401/. [2] "Tier 1 cities" refers to the term used by the National Bureau of Statistics of China and refer to Beijing, Shanghai, Shenzhen and Guangzhou. [3] "Tier 2 cities" refers to the 32 major cities, other than Tier 1 cities, as categorized by the National Bureau of Statistics of China, including provincial capitals, administrative capitals of autonomous regions, direct-controlled municipalities and other major cities designated as "municipalities with independent planning" by the State Council. "Thanks to our team's efforts, we delivered a strong first quarter with improved operating and financial performances, and strong execution on our expansion and strategic growth objectives. As of March 31, 2019, we were operating in 292 cities, further increasing of our geographical coverage across China. During the quarter we opened 102 new hotels, continued to grow our pipeline, and remained on track to open more new hotels in the remaining part of this year," commented Mr. Alex Xu, Chairman and Chief Executive Officer of GreenTree. "We took a number of strategic steps to strengthen our solid foundation for further growth in 2019 and beyond with a number of investments and strategic partnerships that complement our existing business. Beyond these, we remain engaged in exploring appropriate value-enhancing acquisition opportunities to help strengthen our hotel platform and increase long-term shareholder value." First Quarter of 2019 Financial Results Quarter Ended March 31, 2018  March 31, 2019  March 31, 2019 RMB RMB USD Revenues Leased-and-operated hotels 45,615,096 51,833,041 7,723,364 Franchised-and-managed hotels 150,343,349 183,460,067 27,336,403 Total revenues 195,958,445 235,293,108 35,059,767 Total revenues  for the first quarter of 2019 were RMB235.3 million (US$35.1 million)[1], representing a 20.1% increase over the first quarter of 2018.The increase in the first quarter of 2019 was primarily attributable to the 101 F&M hotels new addition to our network, the addition of a new L&O hotel and the conversion of three F&M hotels to L&O during the third quarter of 2018, improved RevPAR for both F&M and L&O hotels as well as contribution from membership growth; and was partially offset by the renovation of seven L&O hotels during this quarter and the conversion of one L&O hotel to F&M during the fourth quarter of 2018. Total revenues from leased-and-operated hotels for the first quarter of 2019 were RMB51.8 million (US$7.7 million)[1], representing a 13.6% year-over-year increase. The year-over-year increase in the first quarter of 2019 was primarily attributable to RevPAR growth of 2.1%, moderate sublease revenue growth, the addition of a new L&O hotel during this quarter and the conversion of three F&M hotels to L&O since the Third quarter of 2018; and was partially offset by the renovation of seven L&O hotels during this quarter and the conversion of one L&O hotel to F&M in the fourth quarter of 2018. Total revenues from franchised-and-managed hotels for the first quarter of 2019 were RMB183.5 million (US$27.3 million)[1], representing a 22.0% year-over-year increase. Initial franchise fees increased 44.2% year-over-year in the first quarter of 2019, primarily due to the gross opening of 101 hotels in the first quarter of 2019 as compared to 80 hotels opened in the first quarter of 2018. The 20.6% increase from the first quarter of 2018 in recurring franchisee management fees and others was primarily due to RevPAR growth of 2.5% as well as growth in central reservation system ("CRS") usage fees, annual IT and marketing fees and hotel manager fees, which in turn resulted from the increased number of hotels and hotel rooms in operation. Quarter Ended  March 31, 2018  March 31, 2019  March 31, 2019 RMB RMB USD  Initial franchise fee 8,843,441 12,752,949 1,900,249  Recurring franchise management fee and others 141,499,908 170,707,118 25,436,154  Revenues from franchised-and-managed hotels 150,343,349 183,460,067 27,336,403 Total operating costs and expenses Quarter Ended  March 31, 2018  March 31, 2019  March 31, 2019 RMB RMB USD Operating costs and expenses Hotel operating costs 63,745,544 79,999,844 11,920,349 Selling and marketing expenses 10,468,855 24,676,102 3,676,854 General and administrative expenses 20,400,857 25,732,486 3,834,260 Other operating expenses 143,262 42,624 6,351 Total operating costs and expenses 94,758,518 130,451,056 19,437,814 Hotel operating costs for the first quarter of 2019 were RMB80.0 million (US$11.9 million)[1], representing a 25.5% increase from the same quarter of 2018. The increase in the first quarter of 2019 was mainly attributable to costs associated with the expansion of our F&M hotels; one time cost related to the renovation of seven L&O hotels; higher rental costs, consumables, personnel costs, depreciation and amortization associated with the four new L&O hotels added to our portfolio since the third quarter of 2018 and one new L&O hotel opened in this quarter. Quarter Ended  March 31, 2018  March 31, 2019  March 31, 2019 RMB RMB USD Rental 17,632,067 20,608,265 3,070,727 Utilities 5,111,000 6,154,563 917,058 Personnel cost 7,231,850 8,794,274 1,310,388 Depreciation and amortization 4,820,413 6,524,205 972,137 Consumable, food and beverage 4,436,637 6,837,151 1,018,767 Costs of general managers of franchised-and-managed hotels 15,585,608 22,444,643 3,344,356 Other costs of franchised-and-operated hotels 5,384,508 5,686,583 847,327 Others 3,543,461 2,950,160 439,589 Hotel Operating Costs 63,745,544 79,999,844 11,920,349 Selling and marketing expenses for the first quarter of 2019 were RMB24.7 million (US$3.7 million)[1], compared to RMB10.5 million in the first quarter of 2018. The increase of 135.7% in the first quarter of 2019 was mainly attributable to one-time expenses for the Annual Conference for Celebrating the First Anniversary of our Listing on NYSE; and other minor expenses such as increased advertising and promotion expenses to improve our brands' market recognition including celebrity endorsement; and increased personnel, compensation and other costs (i.e. travel expenses) of business development personnel, as a result of the increased hotel openings. General and administrative expenses for the first quarter of 2019 were RMB25.7 million (US$3.8 million)[1], compared to RMB20.4 million in the first quarter of 2018. The increase of 26.1% in the first quarter of 2019 was primarily attributable to increased share-based compensation expenses, and increased R&D costs. Gross profit for the first quarter of 2019 was RMB155.3 million (US$23.1 million)[1], representing an increase of 17.5% from the same quarter of 2018. Gross margin in the first quarter was 66.0%, compared to 67.5% a year ago. The decrease was primarily due to increased operating costs mainly caused by rising staff numbers, and one-time cost related to the renovation of seven L&O hotels. Income from operations for the first quarter of 2019 was RMB111.7 million (US$16.7 million)[1], representing a decrease of 2.8%. Operating margin in the first quarter declined to 47.5%, compared to 58.7% a year ago. The decreases were mainly attributable to one-time expenses for the Annual Conference for Celebrating the First Anniversary of our Listing on NYSE. Adjusted EBITDA (non-GAAP) for the first quarter of 2019 was RMB133.9 million (US$19.9 million)[1], an increase of 20.0% from the same quarter of 2018. The adjusted EBITDA margin, defined as adjusted EBITDA (non-GAAP) as a percentage of total revenues, was 56.9% in the first quarter of 2019, compared to 57.0% in the first quarter of 2018. The margin decrease was mainly attributable to one-time expenses for the Annual Conference for Celebrating the First Anniversary of our Listing on NYSE. Net income for the first quarter of 2019 was RMB134.0 million (US$20.0 million)[1], representing an increase of 58.8% from the same quarter of 2018. Net margin in the first quarter was 56.9%, compared to 43.1% a year ago. Core net income (non-GAAP) for the first quarter of 2019 was RMB92.3 million (US$13.7 million)[1], representing a 18.0% increase from the same quarter of 2018. The core net margin, defined as core net income (non-GAAP) as a percentage of total revenues, was 39.2% in the first quarter of 2019, compared to 39.9% in the first quarter of 2018. Basic and diluted earnings per ADS for the first quarter of 2019 was RMB1.33 (US$0.20)[1], representing a 44.6% increase from the same quarter of 2018. Basic and diluted core net income per ADS (non-GAAP) was RMB0.91 (US$0.14)[1] for the first quarter of 2019, representing a 7.1% increase from the same quarter of 2018. Cash flow. Operating cash inflow for the first quarter of 2019 was RMB122.2 million (US$18.2 million)[1], primarily due to improved operating performance across our hotel portfolio. Investing cash outflow for the first quarter of 2019 was RMB106.5 million (US$15.9 million)[1], which was attributable primarily to changes in short-term investments,  and partially offset by purchase of property and equipment and other investments, mainly including short-term investments and long-term deposits. Financing cash outflow for the first quarter of 2019 was RMB197.6 million (US$29.4 million)[1], which was attributable primarily to RMB208.0 million distributed to shareholders. Cash and cash equivalents, restricted cash, short-term investments, investments in equity securities[4] and time deposit[5]. As of March 31, 2019, the Company had a total balance of cash and cash equivalents, restricted cash, short term investments, investments in equity securities and time deposit of RMB2,180.8 million (US$325.0 million)[1], as compared to RMB2,260.5 million as of December 31, 2018, primary due to net operating cash flow and investments in equity securities, offset by dividend paid. [4] Investments in equity securities include securities and investment in Gingko and New Century which is recorded in Long-term investments account. [5] Time deposits are the time deposit certificates last over three months, which is recorded in Long-term time deposits.   Recent Developments In 2019, we intend to develop more hotels under the Wumian and GreenTree Apartment brands to meet the taste of young business travelers. During the first quarter, one Wumian hotel was under construction. GreenTree Apartment aims to provide long-term apartment rental services to urban white collars, especially newcomers to cities. Different from a standard mid-scale hotel, our apartments provide a more family-friendly living space and more community space. As of March 31, 2019, we opened 2 apartment hotels, of which one is L&O. For the first quarter of 2019, we added 8 more apartment hotels in our pipeline, and we plan to add total 30 apartment hotels into our pipeline during the rest of this year. Yibon contributed one million paid members after the launch of our membership integration with them during March 2019. This year, we will continue to launch our membership integration with Argyle. M&A and strategic investments are key growth strategies for GreenTree and the Company completed a number of strategic initiatives during the first quarter of 2019. First, on January 18, 2019, the Company invested in China Gingko Education Group Company Limited, or Gingko, a public company listed on the Hong Kong Stock Exchange ("HKSE") that had approximately 10,000 students enrolled in its university studying accredited 4 years full time BA/BS degrees all related to hospitality during the 2017/2018 school year. Gingko is currently ranked as China's No.1 hospitality university by the "Gaosan Web Association", a website with introductions to and rankings of universities in China. We will work together to cultivate professional talent for us and the hospitality industry in China. Second, on January 28, 2019, the Company announced a strategic investment to become a major shareholder in Argyle. The Argyle hotel network consists of eight mid-scale and upscale brands, with footprints mainly in South West China, South East China, and Southeast Asia. Argyle's highly distinguished brand portfolio and geographic coverage are highly complementary to GreenTree's business. Third, on March 11th, 2019, the Company acquired 4.95% in Zhejiang New Century Hotel Management Co., Ltd., or New Century, a company also listed on the HKSE. New Century operates and manages 150 hotels, ranging from mid-scale to upscale brands, with over 34,000 hotel rooms in 22 provinces. The two companies will explore opportunities for future strategic cooperation. Fourth, on May 1, 2019, the Company announced an acquisition agreement to acquire a 70% equity stake in Urban Hotel Group. The Urban Hotel Group is a leading franchised hotel operator in China with strong brand portfolio and geographic coverage in China. It has more than 600 hotels in economy to mid-scale segment in Eastern and Northern China. The company plans to complete the transaction subject to customary closing conditions. Adoption of New Revenue Recognition Accounting Standards The Company adopted Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) on January 1, 2019 on a full retrospective basis in the condensed consolidated financial statements. As such, prior period results have been adjusted to reflect the adoption of ASU 2014-09. The most meaningful impacts of the adoption of ASU 2014-09 are as follows: Under previous guidance, initial one-time franchise fee was recognized when the hotels opened for business and the Company had fulfilled its commitments and obligations. Upon adoption of new revenue standards the one-time franchise fee will be recognized over the term of the franchise contract. Under previous guidance, the Company adopted the incremental cost model to account for membership program. The estimated incremental costs, net of the reimbursement received from the franchisees, are accrued and recorded as accruals for membership program as members accumulate points and are recognized as cost and expense in the accompanying consolidated statements of comprehensive income. Under new revenue standards, membership program is considered a separate performance obligation and the consideration allocated to the membership program will be recognized as revenue upon point redemption, net of any cost paid to the franchisees and other third parties. Guidance For the full year 2019, the Company expects growth in total revenues of 20-25% from 2018. The guidance set forth above reflects the Company's current and preliminary view based on our estimates, may not be indicative of our financial results for the full year ended December 31, 2019 and is subject to change. Conference Call GreenTree's management will hold an earnings conference call at 8:00 AM U.S. Eastern Time on May 24, 2019 (8:00 PM Beijing/Hong Kong Time on May 24, 2019).  Dial-in numbers for the live conference call are as follows: International +1-412-902-4272 China  +4001-201203 US +1-888-346-8982 Hong Kong +800-905-945 or 852-3018-4992 Singapore +800-120-6157 Participants should ask to join the GreenTree call, please dial in approximately 10 minutes before the scheduled time of the call. A telephone replay of the call will be available after the conclusion of the conference call until May 31, 2019. Dial-in numbers for the replay are as follows: International Dial-in +1-412-317-0088 U.S. Toll Free +1-877-344-7529 Canada Toll Free +855-669-9658 Passcode: +10131559 Additionally, a live and archived webcast of this conference call will be available at http://ir.998.com. Use of Non-GAAP Financial Measures We believe that Adjusted EBITDA and core net income, as we present it, is a useful financial metric to assess our operating and financial performance before the impact of investing and financing transactions, income taxes and certain non-core and non-recurring items in our financial statements. The presentation of Adjusted EBITDA and core net income should not be construed as an indication that our future results will be unaffected by other charges and gains we consider to be outside the ordinary course of our business. The use of Adjusted EBITDA and core net income has certain limitations because it does not reflect all items of income and expenses that affect our operations. Items excluded from Adjusted EBITDA and core net income are significant components in understanding and assessing our operating and financial performance. Depreciation and amortization expense for various long-term assets, income tax and share-based compensation have been and will be incurred and are not reflected in the presentation of Adjusted EBITDA. Each of these items should also be considered in the overall evaluation of our results. Additionally, Adjusted EBITDA and core net income does not consider capital expenditures and other investing activities and should not be considered as a measure of our liquidity. We compensate for these limitations by providing the relevant disclosure of our depreciation and amortization, interest expense/income, gains/losses from investments in equity securities, income tax expenses, share-based compensation, share of loss in equity investees, government subsidies and other relevant items both in our reconciliations to the corresponding U.S. GAAP financial measures and in our consolidated financial statements, all of which should be considered when evaluating our performance. The term Adjusted EBITDA and core net income is not defined under U.S. GAAP, and Adjusted EBITDA and core net income is not a measure of net income, operating income, operating performance or liquidity presented in accordance with U.S. GAAP. When assessing our operating and financial performance, you should not consider this data in isolation or as a substitute for our net income, operating income or any other operating performance measure that is calculated in accordance with U.S. GAAP. In addition, our Adjusted EBITDA and core net income may not be comparable to Adjusted EBITDA and core net income or similarly titled measures utilized by other companies since such other companies may not calculate Adjusted EBITDA and core net income in the same manner as we do. Reconciliations of the Company's non-GAAP financial measures, including Adjusted EBITDA and core net income, to the consolidated statement of operations information are included at the end of this press release. About GreenTree Hospitality Group Ltd. GreenTree Hospitality Group Ltd. ("GreenTree" or the "Company") (NYSE: GHG) is a leading franchised hotel operator in China. As of March 31, 2019, GreenTree had 2,829 hotels, among which 2,799 are franchised and managed hotels. The Company had the highest proportion of franchised-and-managed hotels among the top four economy to mid-scale hotel networks in China. In 2018, GreenTree was the fourth largest economy to mid-scale hotel group in China in terms of the number of hotels according to a report from Shanghai Inntie Enterprise Management Consulting Co., Ltd. The Company has built a strong suite of brands including its flagship "GreenTree Inns" brand as a result of its long-standing dedication to the hospitality industry in China and consistent quality of its services, signature hotel designs, broad geographic coverage and convenient locations. GreenTree has positioned its brands to appeal to value-and-quality-conscious business travelers and leisure travelers. For more information on GreenTree, please visit http://ir.998.com Safe Harbor Statements This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995.  In some cases, these forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," "confident," "future," or other similar expressions. GreenTree may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about or based on GreenTree's current beliefs, expectations, assumptions, estimates and projections about us and our industry, are forward-looking statements that involve known and unknown factors, risks and uncertainties that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Such factors and risks include, but not limited to the following: GreenTree's goals and growth strategies; its future business development, financial condition and results of operations; trends in the hospitality industry in China and globally; competition in our industry; fluctuations in general economic and business conditions in China and other regions where we operate; the regulatory environment in which we and our franchisees operate; and assumptions underlying or related to any of the foregoing. You should not place undue reliance on these 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. All information provided, including the forward-looking statements made, in this press release are current as of the date of the press release. Except as required by law, GreenTree undertakes no obligation to update any such information or forward-looking statements to reflect events or circumstances after the date on which the information is provided or statements are made, or to reflect the occurrence of unanticipated events. -- Financial Tables and Operational Data Follow -- GreenTree Hospitality Group Ltd. Unaudited Condensed Consolidated Balance Sheets  December 31, 2018  March 31, 2019  March 31, 2019 RMB RMB USD ASSETS Current assets: Cash and cash equivalents 1,264,025,785 1,062,188,750 158,271,062 Short-term investments 685,512,063 159,646,908 23,788,131 Investments in equity securities 307,693,782 253,822,369 37,820,713 Accounts receivable, net of allowance for doubtful accounts  64,864,184 81,990,976 12,217,037 Amounts due from related parties  228,600 10,225,000 1,523,573 Prepaid rent  4,478,413 3,766,832 561,275 Inventories  2,547,729 1,098,846 163,733 Other current assets  53,969,039 46,472,250 6,924,581 Loans receivable, net 67,196,568 98,198,518 14,632,036 Total current assets 2,450,516,163 1,717,410,449 255,902,141 Non-current assets: Restricted cash 3,300,000 11,457,077 1,707,158 Long-term time deposits 60,000,000 500,000,000 74,502,324 Loan receivable, net 39,352,863 37,127,516 5,532,172 Property and equipment, net  222,389,573 222,430,063 33,143,113 Intangible assets, net 27,213,391 26,520,809 3,951,724 Goodwill 5,787,068 5,787,068 862,300 Long-term investments 112,219,460 365,780,509 54,502,996 Other assets 25,701,523 57,391,152 8,551,549 Deferred tax assets 133,300,966 132,873,516 19,798,772  TOTAL ASSETS 3,079,781,007 3,076,778,159 458,454,249 LIABILITIES AND EQUITY Current liabilities: Short-term bank loans 60,000,000 60,000,000 8,940,279 Accounts payable  9,182,058 13,380,723 1,993,790 Advance from customers  36,370,325 34,699,543 5,170,393 Amounts due to related parties  285,578 218,814 32,604 Salary and welfare payable  42,767,219 35,403,626 5,275,305 Deferred rent  4,421,427 4,626,821 689,418 Deferred revenue  217,668,659 206,866,473 30,824,066 Accrued expenses and other current liabilities  241,407,979 254,959,378 37,990,132 Income tax payable  104,988,638 128,871,701 19,202,483 Total current liabilities 717,091,883 739,027,079 110,118,470 Deferred rent  20,519,682 20,021,717 2,983,329 Deferred revenue  373,090,530 379,499,640 56,547,211 Other long-term liabilities  96,573,810 97,621,536 14,546,062 Deferred tax liabilities  43,538,624 52,225,820 7,781,890 Unrecognized tax benefits  169,619,409 175,666,160 26,175,075  Total liabilities 1,420,433,938 1,464,061,952 218,152,037 Shareholders' equity: Class A ordinary shares  217,421,867 218,478,686 32,554,340 Class B ordinary shares  115,534,210 115,534,210 17,215,134 Additional paid-in capital 1,003,026,803 1,033,819,435 154,043,902 Retained earnings 252,617,450 179,505,188 26,747,108 Accumulated other comprehensive income 62,367,692 47,565,174 7,087,432 Total GreenTree Hospitality Group Ltd. shareholders' equity 1,650,968,022 1,594,902,693 237,647,916 Non-controlling interests 8,379,047 17,813,514 2,654,296 Total shareholders' equity 1,659,347,069 1,612,716,207 240,302,212 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 3,079,781,007 3,076,778,159 458,454,249     GreenTree Hospitality Group Ltd. Unaudited Condensed Consolidated Statements of Comprehensive Income Quarter Ended March 31, 2018  March 31, 2019  March 31, 2019 RMB RMB USD Revenues Leased-and-operated hotels 45,615,096 51,833,041 7,723,364 Franchised-and-managed hotels 150,343,349 183,460,067 27,336,403 Total revenues 195,958,445 235,293,108 35,059,767 Operating costs and expenses Hotel operating costs (63,745,544) (79,999,844) (11,920,349) Selling and marketing expenses (10,468,855) (24,676,102) (3,676,854) General and administrative expenses (20,400,857) (25,732,486) (3,834,260) Other operating expenses (143,262) (42,624) (6,351) Total operating costs and expenses (94,758,518) (130,451,056) (19,437,814) Other operating income 13,825,401 6,906,453 1,029,094 Income from operations 115,025,328 111,748,505 16,651,047 Interest income and other, net  4,703,862 16,469,011 2,453,959 Interest expense - (685,125) (102,087) (Losses) gains on investments in equity securities (5,173,627) 59,934,470 8,930,515 Other income, net - 829,781 123,641 Income before income taxes and share of loss of equity method investments 114,555,563 188,296,642 28,057,075 Income tax expense (29,286,411) (54,165,392) (8,070,895) Income before share of loss in equity method investments 85,269,152 134,131,250 19,986,180 Share of losses in equity investees, net of tax (907,036) (173,231) (25,812) Net income 84,362,116 133,958,019 19,960,368 Net loss attributable to non-controlling interests 29,519 955,533 142,378 Net income attributable to ordinary shareholders 84,391,635 134,913,552 20,102,746 Net earnings per share Class A ordinary share-basic and diluted 0.92 1.33 0.20 Class B ordinary share-basic and diluted 0.92 1.33 0.20 Net earnings per ADS Class A ordinary share-basic and diluted 0.92 1.33 0.20 Class B ordinary share-basic and diluted 0.92 1.33 0.20 Weighted average shares outstanding Class A ordinary share-basic and diluted 50,856,151 67,015,625 67,015,625 Class B ordinary share-basic and diluted 40,949,391 34,762,909 34,762,909 Other comprehensive income, net of tax -Foreign currency translation adjustments (169,882) (14,802,518) (2,205,644) Comprehensive income, net of tax 84,192,234 119,155,501 17,754,724 Comprehensive loss attributable to non-controlling interests 29,519 955,533 142,378 Comprehensive income attributable to ordinary shareholders 84,221,753 120,111,034 17,897,102     GreenTree Hospitality Group Ltd. Unaudited Condensed Consolidated Statements of Comprehensive Income  Quarter Ended    March 31,2018    March 31,2019    March 31,2019   RMB   RMB   USD  Operation activities: Net (loss) income  84,362,116 133,958,019 19,960,368 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 5,394,502 7,670,772 1,142,981 Share of loss in equity method investments 907,036 173,231 25,812 Interest income  (4,703,862) (7,961,638) (1,186,321) Bad debt expense  319,258 891,369 132,818 Loss (Gain) from investments in equity securities  5,173,627 (59,934,470) (8,930,515) Foreign exchange losses (gains) 725,206 (204,117) (30,414) Share-based compensation  159,839 4,849,451 722,591 Income tax expenses related to dividend distribution  - 3,844,492 572,847 Changes in operating assets and liabilities: Accounts receivable  (11,222,590) (18,018,161) (2,684,790) Prepaid rent  1,586,377 711,581 106,029 Inventories  775,180 1,448,883 215,890 Amounts due from related parties  (416,358) 3,600 536 Other current assets  (6,803,749) 7,196,789 1,072,355 Other assets  - (4,689,629) (698,777) Accounts payable  4,696,940 4,198,665 625,621 Amounts due to related parties  326,696 (66,764) (9,948) Salary and welfare payable  (1,679,085) (7,363,593) (1,097,210) Deferred revenue  22,243,661 (4,393,076) (654,589) Advance from customers  (8,488,483) (1,670,782) (248,954) Accrued expenses and other current liabilities  3,487,779 25,592,668 3,813,428 Income tax payable  19,733,840 23,883,063 3,558,687 Unrecognized tax benefits  3,751,152 6,046,751 900,994 Deferred rent  (1,014,448) (292,571) (43,594) Other long-term liabilities  1,773,389 1,047,726 156,116 Deferred taxes  (5,046,994) 5,270,154 785,277 Net cash provided by operating activities  116,041,029 122,192,413 18,207,238 Investing activities: Purchases of property and equipment  (58,332,109) (9,059,949) (1,349,975) Proceeds from disposal of property and equipment  - 300,000 44,701 Acquisitions, net of cash received  - (10,000,000) (1,490,046) Purchases of short-term investments  (516,561,589) (182,229,182) (27,152,995) Proceeds from short-term investments  745,000,000 716,055,975 106,695,669 Increase of long-term time deposits  - (440,000,000) (65,562,046) Purchases of investments in equity securities  (4,795,838) (1,976,351) (294,485) Purchases of long term investments in equity securities  - (249,464,401) (37,171,355) Proceeds from disposal of investments in equity securities  11,267,910 108,603,914 16,182,488 Loan to related parties  - (10,000,000) (1,490,046) Loan to third parties  (5,000,000) (15,940,000) (2,375,134) Loan to franchisees  (15,000,000) (18,130,000) (2,701,454) Repayment from franchisees  3,500,000 5,293,397 788,740 Net cash (used in) provided by investing activities  160,078,374 (106,546,597) (15,875,938) Financing activities: Distribution to the shareholders (39,691,103) (208,025,814) (30,996,813) Income tax paid related to the above distribution  (3,000,000) - - Contribution from noncontrolling interest holders  - 10,390,000 1,548,158 Proceeds from issuance of Class A ordinary shares  837,505,007 - - Payment for initial public offering costs  (4,302,762) - - Net cash provided by (used in) financing activities  790,511,142 (197,635,814) (29,448,655) Effect of exchange rate changes on cash and cash equivalents, and restricted cash*  (895,088) (11,689,960) (1,741,859) Net increase (decrease) in cash and cash equivalents and restricted cash 1,065,735,457 (193,679,958) (28,859,214) Cash, cash equivalents and restricted cash at the beginning of the period 164,963,665 1,267,325,785 188,837,434 Cash, cash equivalents and restricted cash at the end of the period 1,230,699,122 1,073,645,827 159,978,220 * Upon the adoption of ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, restricted cash was included within cash and cash equivalents in the consolidated statement of cash flows for the three months period ended March 31, 2019 and the comparative disclosure had been restated to conform to the current period presentation.     GreenTree Hospitality Group Ltd. Unaudited Reconciliation of GAAP and Non-GAAP Results Quarter Ended  March 31, 2018  March 31, 2019  March 31, 2019 RMB RMB USD Net income  84,362,116 133,958,019 19,960,368  Deduct:  Other operating income 13,825,401 6,906,453 1,029,094 Gains on investments in equity securities - 59,934,470 8,930,515 Other income, net - 829,781 123,641  Add:  Other operating expenses 143,262 42,624 6,351 Income tax expense  29,286,411 54,165,392 8,070,895 Share of loss in equity investees, net of tax  907,036 173,231 25,812 Interest expense - 685,125 102,087 Share-based compensation 159,839 4,849,451 722,591 Depreciation and amortization  5,394,502 7,670,772 1,142,981 Losses on investments in equity securities 5,173,627 - -  Adjusted EBITDA (Non-GAAP)  111,601,392 133,873,910 19,947,835 Quarter Ended  March 31, 2018  March 31, 2019  March 31, 2019 RMB RMB USD Net income  84,362,116 133,958,019 19,960,368 Deduct: Government subsidies (net of 25% tax) 10,236,002 4,815,000 717,457 Gains on investments in equity securities (net of 25% tax) - 44,950,853 6,697,886 Other income (net of 25% tax) - 622,336 92,731 Add: Share-based compensation 159,839 4,849,451 722,591 Losses on investments in equity securities (net of  25% tax) 3,880,220 - - Income tax expenses related to dividend distribution - 3,844,492 572,847 Losses from joint venture closure Core net income (Non-GAAP) 78,166,173 92,263,773 13,747,732 Core net income per ADS (Non-GAAP) Class A ordinary share-basic and diluted 0.85 0.91 0.14 Class B ordinary share-basic and diluted 0.85 0.91 0.14       Operational Data As of March 31, 2018 As of March 31, 2019 Total hotels in operation: 2,354 2,829      Leased and owned hotels 26 30      Franchised hotels 2,328 2,799 Total hotel rooms in operation 195,552 225,757      Leased and owned hotels 3,301 3,790      Franchised hotels 192,251 221,967 Number of cities 266 292 Quarter Ended As of March 31, 2018 As of March 31, 2019 Occupancy rate (as a percentage)      Leased-and-owned hotels 60.5% 59.6%      Franchised hotels 79.6% 78.4%      Blended 79.2% 78.1% Average daily rate (in RMB)      Leased-and-owned hotels 193 200      Franchised hotels 155 162      Blended 156 162 RevPAR (in RMB)      Leased-and-owned hotels 117 119      Franchised hotels 124 127      Blended 124 127        Number of Hotels in Operation   Number of Hotel Rooms in Operation  As of March 31,2018 As of March 31,2019 As of March 31,2018 As of March 31,2019  Economy hotels  287 508 15,810 25,639  Vatica                                       111 121 8,280 8,923  Shell   176 387 7,530 16,716  Mid-scale  2,012 2,198 173,456 187,462  GreenTree Inn   1,755 1,901 152,821 164,181  GT Alliance   257 294 20,635 23,090  Wumian Hotel - 1 - 62  GreenTree Apartment  - 2 - 129  Business to Mid-to-up-scale  55 123 6,286 12,656  GreenTree Eastern   55 91 6,286 9,732  GMe  - 14 - 1,337  Geya  - 5 - 445  VX  - 13 - 1,142   Total   2,354 2,829 195,552 225,757 For more information, please contact: GreenTree Ms. Selina YangPhone: +86-21-3617-4886 ext. 7999E-mail: ir@998.com Mr. Nicky ZhengPhone: +86-21-3617-4886 ext. 6708E-mail: ir@998.com Christensen In ShanghaiMs. Constance ZhangPhone: +86-138-1645-1798E-mail: czhang@christensenIR.com In Hong Kong Ms. Karen Hui Phone: +852-9266-4140 E-mail: khui@christensenIR.com In US Ms. Linda Bergkamp Phone: +1-480-614-3004Email: lbergkamp@ChristensenIR.com View original content:http://www.prnewswire.com/news-releases/greentree-hospitality-group-ltd-reports-first-quarter-of-2019-financial-results-300856465.htmlRelated Links :http://ir.998.com
  • There Finally Is A Preeminent International Asian Art Maestro Whose Exhibition Greatly Astounds the Art World And Requires Visitors' Flow Control
    SHANGHAI and LOS ANGELES, May 24, 2019 /PRNewswire/ -- The art of Dr. Yuhua Shouzhi Wang is sending shock waves through the art world. Over the past few decades, Dr. Yuhua Shouzhi Wang has worked quietly and diligently on her art with determination and dedication. Suddenly, she rises to the pinnacle of the art world, and become a preeminent international maestro in the arts. She is an American citizen of Asian descent. Her art exhibition opened ceremoniously in the Shanghai Exhibition Center. The exhibition is organized by the Shanghai International Cultural Exchange Association Gallery, and co-organized by Shanghai Xu Beihong Art Research Club, Shanghai University International Exchange Art Center, and Rare Art Inc. of U.S.A. Dr. Yuhua Shouzhi Wang Art Exhibition Opening Ceremony guests Gong Xinhan, Former Minister of the Propaganda Department, Central Committee of the Communist Party of China; Cheng Lanmei, Chair, World Council of Women Artists; Tenure Professor Vincent Robbins of the Art Center College of Design and Artistic Director of Rare Art Inc. U.S.A.; Virginia Robbins, formerly interior designer for Raymond Fernand Loew; and Lu Ximing, Vice President of Shanghai International Culture and Art Exchange Association. The opening ceremony was a grand occasion attended by government officials, renowned artists, critics, and distinguished members of society.  Art lovers and the public eagerly visited the exhibition in an overwhelming number. During his remarks, Lu Ximing, Vice President of Shanghai International Culture and Art Exchange Association expressed his best wishes for the perfect success of the Dr. Yuhua Shouzhi Wang Art Exhibition.  In his congratulatory remarks, the Director of Shanghai International Cultural Exchange Association Gallery Wu Shufang said: "As the Director of the Gallery, I have pondered on many things. First of all, this exhibition has brought the highest number of visitors since the opening of the Gallery. People come here enthusiastically in large numbers but they also behave very orderly. At one point, we even have to place a sign outside the entrance of the Gallery to manage the visitors' flow. This rarely happens… The art of Dr. Wang brings together paintings, artistic skills, and the art of the East and the West. Her skills are exquisite and profound. As a result, the effects are magnificent." Eager viewers packed the whole exhibition venue, this is unprecedented. The China Review News reported on May 20 about the opening of Dr. Yuhua Shouzhi Wang Art Exhibition on May 18. The review stated: "Dr. Yuhua Shouzhi Wang's artistic achievement is at the highest level of the Class of Ease. Her paintings are both super-realistic and of abstract, surrealistic style. The physical forms emanate a spiritual dimension. Dr. Wang's skills are exquisite and profound, and her works carry a strong scholarly spirit. She is a preeminent international maestro in the arts.  Early 2019, the New York Academy of Art formally recognized the outstanding artistic accomplishment of Dr. Yuhua Shouzhi Wang and determined that she is a preeminent international artist of first class standing. The Academy presented Dr. Wang with a certificate jointly signed by the President and the Provost. In the same year, a small painting Pomegranates in a Bamboo Basket of the size 18 by 27 inches was auctioned at the highest price of US$1.27 million during the Spring Auction at the Gianguan Auction House in New York. Seventy of Dr. Yuhua Shouzhi Wang's artworks of first class international standing are presented in this exhibition, including ink paintings of distinguished style, super-realistic paintings, and surrealistic paintings of abstract colors. These artworks reflect how Dr. Wang is recognized with the status of a preeminent international artist of first class standing. Her substantial and exquisite skills are the reasons she has attained such an accomplishment." Professor Gu Xingyi of Guangzhou University School of Humanities, who is a master student supervisor, a member of the Guangdong Writers Association, and Director of the Guangdong Province Collectors Association, made the following determination: "Each of Dr. Wang's artworks carries the likeness of 'form' and the likeness of 'spirit.' She arrives at natural ease by using simple brushstrokes that fully capture the forms. Each of her works is refreshing, memorable, and leaves the viewers with a wonderful aftertaste. These artworks are exceptionally rare and precious, and extremely collectible. The artworks in this exhibition are of the highest quality of the Class of Ease…Ancient scholars were of the opinion that the quality of a person's art reflects the quality of their personality…The excellence of the Class of Ease that Dr. Yuhua Shouzhi Wang's paintings have attained is precisely a reflection of her noble character. … As a Chinese American, Dr. Wang is truly deserving of the determination by the New York Academy of Art that she is an international preeminent artist of first class standing; and the recognition by the United States Congress that she is "a great artist and sculptor." In the world, Dr. Yuhua Shouzhi Wang is the only international preeminent artist of first class standing in all of Asia. She is of the same standing as artists such as Cezanne, Gauguin, Monet, and Van Gogh." The art review in Lang Mo states: "With the suspending strokes of the brush, ink splashes in a dancing rhythm, merging with the white space in the composition. In the Qing Dynasty, a poem of the philosopher Wang Chuanshan says: 'A piece of cloud takes on the color of the sun. The light comes neither from within nor without, has no shape and no details. It gives the impression of infinite passion, yet once the passion is dissipated, one does not retain any recollections.' Mr. Zhong Baihua once said that the ultimate ideal and the highest accomplishment in Chinese art is when an artist can use the swiftness of brushstrokes to capture the imagery while manifesting the essence of the universe from within one's heart. In Dr. Yuhua Shouzhi Wang's landscape, flower and bird paintings, not only can we experience such a state, we can also experience the candor of the modern art of painting, and the spiritual impact when art connects directly with our inner mind. The paintings of Dr. Yuhua Shouzhi Wang radiate brightness. This is not the brightness from light, or from the perception of light in Western oil paintings. This brightness is all-encompassing. Dr. Yuhua Shouzi Wang's paintings are rooted in the vigorousness of Eastern philosophy while incorporating the modern elements of Western painting. Her art emanates the inner beauty of her spirit and a greatly generous state of mind. Dr. Yuhua Shouzhi Wang's inscriptions are penned in a graceful manner and an elegant style. Her penmanship is delightful and profound, emanating the radiance of nobility. Her calligraphy marvelously blends in with the painting composition, transcending the form to manifest the essence. Dr. Wang is highly achieved in manifesting the deeply meditative quality of Chinese art. The painterly charm of the calligraphy is condensed in the boundless white space upon which a flower, a bird, a tree, a stone, a mountain, or a river illusively appear to deliver the message of boundless deep passion and the immensity of meditative contemplation. The art reflects the greatly universal love of this maestro of fine culture who treats all beings and all matters in the universe with the great love of equal-mindedness. Every detail of the grass, the trees, the mountains and the rocks are created by wondrous brushstrokes. The rendition of the brushstrokes in the style of ease emanates marvelous subtleties and nuances." Cheng Lanmei, Chairperson of the World Council of Women Artists said: "I am deeply touched after viewing several paintings consecutively. Initially, I thought that the works were painted by a male artist because of the power, the bold spirit, the way the artist uses dry brush and wet brush, and the superb control over light and dark ink colors. Truly speaking, as an oil painter, I paint as if I am creating ink painting in a very clean cut and precise manner. But truly, the difficulties in creating oil paintings cannot be compared to the difficulties in creating ink paintings. It is tremendously difficult to create ink paintings. That's why I deeply admire Dr. Wang's accomplishment in these paintings." Vincent Robbins, Tenure Professor at the renowned Art Center College of Design in Los Angeles and the Artistic Director of Rare Art Inc. U.S.A., said in his opening speech: "Dr. Yuhua Shouzhi Wang's paintings are sought after by insightful people in the West. Dr. Wang has lived and worked in the West for a long time, she is familiar with the creative characteristics of Western paintings. Dr. Wang applies Chinese ink-wash painting techniques with ease, adopting their strengths in her own creations. Dr. Wang has skillfully integrated the detailed fine brushwork in Western oil paintings and the freehand brushwork in Chinese paintings, as well as the colors of Western oil paintings and the lines of Chinese paintings. Both the Chinese and the Western cultures are blended in her paintings. They are bold and innovative. Dr. Wang's paintings give the viewers a refreshing feeling." Renowned Shanghai artist Yan Kangwen evaluated: "After viewing all the paintings of Dr. Yuhua Shouzhi Wang, I can only say one thing. Her art is unprecedented by any artists before her, and is inspiration to later generations. Her foundation is profound and her skills are exquisite. Dr, Wang has originated a new generation of painting style. She is internationally renowned. She is uniquely magnificent in the audaciousness, infinite variations, and vivaciousness of her art. Her style and energy are powerful. Her paintings are breaking new ground and are truly great works…Dr. Wang's paintings have surpassed the Class of Divinity, and have reached the pinnacle of the Class of Ease. These works are truly worthy of our learning and appreciation. Other distinguished guests who attended the opening ceremony include: Gong Xinhan, Former Minister of the Propaganda Department, Central Committee of the Communist Party of China; Virginia Robbins, formerly interior designer for Raymond Fernand Loew who was one of the most renowned industrial designer in the 20th Century; Wang Guofu, Vice President of Shanghai International Culture and Art Exchange Association; Hong Yongqing, Director of the Shanghai Office of South-South Cooperation Promotion Association, Ministry of Foreign Affairs, China, and Chinese Science and Technology Diplomatic Counselor to Hungary, Finland, and Canada; Wang Yun, Office Director of Shanghai Office of China-Europe Technical and Economic Cooperation Association; Wu Shufang, Director and Legal Representative of the Shanghai International Cultural Exchange Association Gallery; Hu Shengliang, writer, Member of the Editorial Committee of the Labor Newspaper; Pan Zhiqiang, Deputy Secretary of Shanghai International Culture and Art Exchange, and Representative to the 13th National People's Congress of Zhejiang Province; Chen Jialing, first researcher of the National Painting Institute, Member of China Artists Association, and Professor of the School of Fine Arts of the Shanghai University; Chen Yiming, contract artist of the Hammers Galleries, New York; Xu Maoping, Member of the China Artists Association and a famous artist living in Japan; Zhang Hao, International Horse Culture Scholar, artist and Co-chair of the China-Canada Cultural Exchange Promotion Association; Wang Xiyin, Vice President and Secretary of China Traditional Craft Research Association; Chen Ketao, Vice President of Shanghai Collection Association, Expert and Consultant of Shanghai Famous Art Appraisal and Evaluation Center, General Manager of Shanghai International Collection Company, and Deputy Secretary of the Shanghai International Cultural Exchange Association; Wu Wanrong, Chief Editor of the Delightful China Magazine; Qi Tiekai, Deputy Dean of Shanghai Painting and Calligraphy Academy; Lin Baoguo, owner of the Baoguo Parlour at Da Ke Tang; Yan Kangwen, famous painter; Wang Sheng, Deputy Director of Wenzhou Calligraphers Association; Former Commissar of Lucheng District Public Security Bureau in Wenzhou. Zhu Laikou, renowned art critic, senior media personality; Lu Yongliang, Art Director of the Outlets Museum in the United Kingdom; Zhao Yinghua, former Party Secretary of the Shanghai Municipal Sports Bureau; Chen Ping, Vice President of the Wenzhou Chamber of Commerce in Shanghai, and Researcher of the Wuyuan Culture Research Institute; Wang Fusong, President of the Bang Calligraphy Academy; Ye Daoming, Former and first Director of the Shanghai Yushi Sculpture Factory; Shen Xueqin, Chairman of the Board of Shanghai Huaxia Modern International Communication Center; Liu Yongbo, actor, special portrayer of Chiang Kai-shek; Wang Rongxiang, Director of Shanghai University Art Exchange; among others. In 2013, President George On. Christophides of the World Federation of UNESCO Clubs, Centers, and Associations (WFUCA) led a group of experts to visit the International Art Museum of America. Upon examining the 77 artworks of Dr. Yuhua Shouzhi Wang that were on view at that time, they highly commended Dr. Wang's art and immediately named the artworks "2013WFUCA." Professor Stephen Farthing, an art scholar of world authority-Royal Academician of the Royal Academy of Arts in the United Kingdom, and the former Rootstein Hopkins Research Chair of Drawing at the University of the Arts in London-once commented that "Dr. Yuhua Wang's paintings may draw heavily on the traditions of Eastern art but today they present themselves as extraordinarily Western ideas and images...Free of perspective, Dr. Wang's paintings reach across cultures to celebrate the space that exists intellectually and emotionally between representation and abstraction, between a fact and an idea." In 2008, the artworks of Dr. Yuhua Shouzhi Wang were exhibited in the Gold Room at the United States Capitol. The United States Congress recognized her as "a great artist and sculptor" for her outstanding accomplishments, and officially chronicled such recognition in the Congressional Record. The same record also mentioned that Dr. Wang "takes great pleasure in helping others, is a selfless person whose moral character is noble, and has made great contributions to the development of cultural exchange between the East and the West." This exhibition showcases the works of the one and only Asian who is an "international preeminent artist of first class standing." The artworks of Dr. Yuhua Shouzhi Wang exhibited this time are of the highest level of artistry as described in the saying: "The time when one abandons all skills is the time when one is perfectly skilled. As an experienced artist, one returns to a childlike state of mind, bringing a sense of comfort to the art."  Dr. Wang's paintings are filled with vivaciousness, surpassing the Class of Divinity, and reached the pinnacle of the Class of Ease. This exhibition offers art lovers and the general public the opportunity to comprehend art through the experience of appreciating, viewing, and emulating the exhibited works of Dr. Yuhua Shouzhi Wang. http://www.rareartinc.com Photo - https://mma.prnewswire.com/media/891867/Rare_Art_Inc_Dr_Yuhua_Shouzhi_Wang_Art_Exhibition_Opening_Ceremony.jpg Photo - https://mma.prnewswire.com/media/892390/Rare_Art_Inc_Exhibition_Viewers.jpg Related Links :http://www.rareartinc.com
  • Cheetah Mobile to Report First Quarter 2019 Financial Results on June 14, 2019
    BEIJING, May 24, 2019 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company with global market coverage, today announced that it plans to release its first quarter 2019 financial results before the market opens on Friday, June 14, 2019. The earnings release will be available on the Company's investor relations website at http://ir.cmcm.com. Cheetah Mobile's management will hold a conference call on Friday, June 14, 2019 at 8:00 A.M. Eastern Time or 8:00 P.M. Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers: International:              +1-412-902-4272 United States Toll Free:       +1-888-346-8982 China Toll Free:             4001-201-203 Hong Kong Toll Free:        800-905-945 Conference ID:             Cheetah Mobile The replay will be accessible through June 21, 2019 by dialing the following numbers: International:              +1-412-317-0088 United States Toll Free:       +1-877-344-7529 Access Code:               10131962 A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.cmcm.com. About Cheetah Mobile Inc. Cheetah Mobile is a leading mobile Internet company with global market coverage. It has attracted hundreds of millions of monthly active users through its mobile utility products such as Clean Master and Cheetah Keyboard, casual games such as Piano Tiles 2, Bricks n Balls, and live streaming product Live.me. The Company provides its advertising customers, which include direct advertisers and mobile advertising networks through which advertisers place their advertisements, with direct access to global promotional channels. The Company also provides value-added services to its mobile application users through the sale of in-app virtual items on selected mobile products and games. Cheetah Mobile is committed to leveraging its cutting-edge artificial intelligence technologies to power its products and make the world smarter. It has been listed on the New York Stock Exchange since May 2014. Investor Relations ContactCheetah Mobile Inc.Helen Jing ZhuTel: +86 10 6292 7779 ext. 1600Email: helenjingzhu@cmcm.com ICR, Inc.Jack WangTel: +1 (646) 417-5395Email: ir@cmcm.com View original content:http://www.prnewswire.com/news-releases/cheetah-mobile-to-report-first-quarter-2019-financial-results-on-june-14-2019-300856457.htmlRelated Links :http://ir.cmcm.com
  • Lights on! It's time to shine for Vivid Sydney 2019
    SYDNEY, May 24, 2019 /PRNewswire/ -- Sydney will be awash with breathtaking colour and special effects for the next 23 nights, with the lights officially turned on for Vivid Sydney this evening by Premier Gladys Berejiklian. jwplayer.key="3Fznr2BGJZtpwZmA+81lm048ks6+0NjLXyDdsO2YkfE="   jwplayer('myplayer1').setup({file: 'https://cdn4.prnasia.com/002071/mnr/201905/vividsydney/video.mp4', image: 'http://www.prnasia.com/video_capture/2661401_AE61401_1.jpg', autostart:'false', aspectratio: '16:9', stretching : 'fill', width: '512', height: '288'});   Austral Flora Ballet, Sydney Opera House   Ballerina To view the Multimedia News Release, please click: https://www.prnasia.com/mnr/shine-for-vivid-sydney-2019.shtml The largest event of light, music and ideas in the Southern Hemisphere will transform the city into a colourful showcase of illumination, sensational sounds and creative thinking from 24 May to 15 June 2019. Ms Berejiklian said Vivid Sydney is a key attraction in the NSW events calendar, boosting visitor numbers to Sydney and the State. "Vivid Sydney is an incredibly important event drawing millions of visitors to the city in May and June each year, many of whom have gone on to explore regional NSW as well," Ms Berejiklian. Australia's largest event brings Sydney to life, as well as to light, by encouraging locals and visitors to enjoy Sydney's wonderful food, exciting attractions and excellent shopping during winter. Minister for Tourism Stuart Ayres said the benefits of Vivid Sydney were significant for the local economy and jobs. "Vivid Sydney is more than just a captivating light, music and ideas festival. Last year Vivid Sydney, with 2.25 million attendees across the 23 days, we saw a record 185,887 travel packages sold to domestic and international visitors which was a 37 per cent increase on 2017," Mr Ayres said. All eyes turned to the world-famous Sydney Opera House at 6pm tonight marking the start of the festival for the Lighting of the Sails, created by LA-based artist Andrew Thomas Huang and featuring a hypnotic tribute to Australia's native plants. Huang's projection will be among more than 50 light installations and projections created by over 100 artists and collaborators from 17 countries. These will be seen across eight Sydney precincts including Barangaroo, Chatswood, Circular Quay, The Rocks, Darling Harbour, Luna Park, Royal Botanic Garden Sydney and Taronga Zoo. Vivid Sydney 2019 program video content and images are available at: http://www.vividsydney.com/mediacentre  Media Enquiries: Florence Rocca, Destination NSWflorence.rocca@dnsw.com.au / +61-428-555-080 Video - https://cdn4.prnasia.com/002071/mnr/201905/vividsydney/video.mp4 Photo - https://photos.prnasia.com/prnh/20190524/2476040-1-a Photo - https://photos.prnasia.com/prnh/20190524/2476040-1-b
  • Upgrade Ecommerce Trust to next level by Blockchain and InsurTech
    HONG KONG, May 24, 2019 /PRNewswire/ -- Hong Kong Federation of E-Commerce (HKFEC) reached a strategic cooperation agreement with Dowsure Technologies Co., Ltd. (Dowsure) to integrate blockchain technology and consumer insurance to Hong Kong Trust Mark, and to build a trustworthy cross-border e-commerce environment for Hong Kong retailers, at the conference held at Trade & Industry Department (TID)'s Support and Consultation Centre for SMEs today. Left: Mr. Byron Pei, Founder and CEO of Dowsure Technologies Co. Ltd. Right: Mr. Joseph Yuen, Chairman of Hong Kong Federation of E-Commerce (HKFEC) and World Trustmark Alliance (WTA) Hong Kong Trust Mark was launched by the Federation in 2016 to tackle disputes raised on IP rights, integrity, trust over marketplaces, and to strengthen confidence level for all people shop online with Hong Kong merchants. The trust mark scheme was launched to provide guidance and assistance for Hong Kong online merchants over domestic and cross-border trade. In 2019, there are over 1,000 online merchants using Hong Kong Trustmark to provide a product guarantee to consumers. To further enhance the scheme and provide immediate protection to consumer, HKFEC has formed a strategic partnership with Dowsure Technologies to provide insurance service by well-known insurance companies such as, China Insurance, PICC, CPIC…etc., over Blockchain technology to further protect consumers and sellers from unnecessary loss or damage occurred in every online transaction. Mr. Joseph Yuen, Chairman of HKFEC said, "We are excited to work with Dowsure to enhance Hong Kong Trust Mark to the next level. Hong Kong has advantage to be a trusted FinTech and InsurTech hub over Greater Bay Area. We are glad to leverage the InsurTech solution by Dowsure for a secure blockchain insurance service for ecommerce merchants with many great insurance companies. It certainly proofs to the world again that Hong Kong has the capability to lead in a healthy digital development as a Smart City." Dowsure was established in 2016, as a leading insurtech company in China, is now building a secure and trustworthy insurance and services network for the global cross-border e-commerce. Dowsure creates the solution of "Protection for Global Ecommerce", through the analysis and research on the whole cross-border e-commerce, dividing the industry into different sections to analyze the risk, probability of risk occurrence and the sustainability. Dowsure designs insurance products based on big data, uses AI technology for actuarial science, controlling risks and pricing, traces information and guarantees products quality by blockchain technology, develops the traditional insurance into "digital insurance" through insurtech and cooperate with insurance companies for product supervision. The innovative solution protects the whole process of massive, fragmented and short-term orders of cross-border e-commerce (import & export). Therefore, Dowsure's solution solves the problems of fake product and the lack of consumers' rights protection, lead a positive development of cross-border e-commerce. Mr. Byron Pei, Founder and CEO of Dowsure said, "E-commerce in Hong Kong shows great prospects for development, however due to the complexity of cross-border e-commerce levels, counterfeit and shoddy goods perplex the consumers and sellers. HKFEC is very authoritative around Hong Kong e-commerce, we are very honored to work with HKFEC and to create a better and safer environment for Hong Kong cross-border e-commerce." China being the largest Ecommerce market in the world, both seller and consumer have big concerns in trust. In the sellers' point of view, they have difficulties to proof themselves a valid source for genuine product with good quality. This damage the reputation and customer satisfaction, which causes some international brand hesitated to develop ecommerce in Hong Kong and China market. From the consumer perspective, No.1 concern is getting fake product online, and once that happened, they do not know who responsible for the claim. Therefore, HKFEC and Dowsure aims at protecting consumer rights and privacy, strengthening confidence level of consumer by recruiting brand retailers joining the scheme, all purchase from that particular brand will then be insured by large insurance company. By utilizing blockchain technology, information including product origin, ordering, logistics arrangement, product receipt, complaints and claims, can be checked by sellers and consumers with a dedicated key. Sellers or consumers can insure for their transaction, if there are any problems arise, consumers are entitled to claims backed by renowned insurance companies such as China Insurance, PICC, CPIC and so on. HKFEC as an organization representing the industry, will continue to actively promote FinTech and e-commerce in the digital economy. The scheme will first launch for local and cross-border e-commerce players in Hong Kong, Macau and mainland, and gradually expand to other regions. About Hong Kong Federation of E-Commerce (HKFEC - http://www.hkfec.org/) Facebook -  http://www.facebook.com/hkfec.org The Hong Kong Federation of E-Commerce (www.hkfec.org) was established as a non-profit organization to bring professionals and all parts of e-commerce businesses together to share the latest news, technology and opportunities on a common platform. Their goal is to make Hong Kong a better place for e-commerce. HKFEC's main objective is to encourage mutual benefits to all e-commerce players, from platform owners, online shops, online media, online service providers to logistics and couriers. HKFEC also closely cooperates with overseas e-commerce organizations to make Hong Kong the gateway for e-commerce in China. About Dowsure Technologies Co., Ltd. (Dowsure - http://www.dowsure.com/)Facebook - https://www.facebook.com/groups/271706053360123/ Dowsure is an innovation cross-border e-commerce fintech company dominated by seniors of insurance and IT experts with leading Dynamic Risk Pricing Model and Risk Management System based on AI, Big Data, Blockchain. The vision of Dowsure is to build the global protection system for cross-border e-commerce services and improve the shopping experience of the supply chain customers and sellers. Photo Download: https://bit.ly/2JpM15B Photo - https://photos.prnasia.com/prnh/20190523/2476188-1
  • Dahai one-to-one & Cornell University Customize Educational Training Courses
    13 Top Teachers Selected to Participate in U.S. Course BEIJING, May 24, 2019 /PRNewswire/ -- TAL Education Group's subsidiary Dahai, the online 1-to-1 education brand, has customized a teacher training program to the U.S. The Cornell University hosted Dahai's Haishi Teacher Team, which consisted of 13 outstanding college student teachers selected nationwide, for this specialized 2-day education training course. During their trip, the team visited other Ivy League schools, such as Harvard University and Columbia University. However, to achieve a more thorough perspective on American teaching methods, the Haishi Team visited a local middle school in New York (Boynton Middle School). There, they sat in on a class with students to gain a further perspective on American teaching methods. On their last stop, the group went to TAL's R&D department in Silicon Valley to acquire an in-depth understanding of "AI+ Education" and share online teaching experience with R&D personnel. At the facility, each person examined the empowering effects and potential a personalized online education can provide, exploring the future development of online education. Dahai’s Haishi Teacher Team Visits Harvard Haishi American Education and Training is one of Dahai's top teacher training programs. With the development of the modern era, today's education is no longer a traditional model of blackboards and chalk. Modern teaching methods not only enhances classroom content, but can also improve teaching efficiency between teachers and their students' interest in learning. Making teachers more adept to internet development has become a focus of teacher training. Dahai is dedicated to improving teachers' abilities and personal accomplishments, helping teachers to adapt to new technological changes, such as AI and ICT (Information and Communication Technology). By doing so, teachers can make online one-to-one teaching more effective. Huang Bainan, head of Dahai's Haishi Teacher Team, believes the event is intended to allow our teachers to gain a deeper understanding of American politics, culture, education and technology, while obtaining hands-on experience from some of the world's leading universities. These accomplishments will expand their horizons and enhance their knowledge for future career, educational, and personal development. This time, Cornell University specifically tailored the training program for the Haishi team. Bryan Duff, a professor and Senior Lecturer from the University, gave a detailed introduction to the American education system, analyzing the differences between Chinese and American education models. As he discussed the advantages and disadvantages of the two, the professor explained common methods and techniques used by American teachers. Importance is given to a students' self-thinking abilities and students are encouraged to ask brave questions. Students should be praised for any question asked as "There is no stupid question, only imperfect answers." Similarly, the Dahai advocates a parallel educational philosophy focused on "stimulating learning interest, developing learning habits, and building a knowledge system". Encouragement based reward inspires children's interest in learning. By learning to simulate interest, a teacher can guide questions actively in class, encouraging children to ask questions and participate. When students ask questions, the teacher gives praise and look to motivate other students to find their own answers. Dahai's AI classroom monitoring system can intelligently detect students' question answering and summarize the whole class as visual reports. The feedback is then used to cultivate students' good learning habits. Dahai hopes to advance its intelligent system and learning efficiency by combining these methods, improving its student's learning approach and framework. After the training course, the group also visited Boynton Middle School, a prominent local school. They took classes with the students and closely observed, studying the method and manner of which the teachers gave instructions. The participants found it greatly rewarding, having a renewed understanding of the teacher-student relationship and the full advantages of student participation. During the shared teaching experience, several team members found that honing students' independent learning interest is the cornerstone for nurturing students' learning abilities. A "Haishi" teacher from Beijing Jiaotong University said, "Students always have in mind of which teaching style they prefer. If the style works for them, they will gradually become more willing to ask questions and become more outgoing. From passive learning to active learning, enthusiasm will gradually progress." The use of AI technology will intelligently record students' classroom questions, answers, notes, and provide a summary of the class. This will help children develop good learning habits like "willing expression, diligent writing, and leading to a successful conclusion". Dahai one-to-one hopes to promote learning efficacy through after-school coaching, allowing for visible changes. The Director of TAL Silicon Valley R&D Department said: "As TAL's first overseas team, we will take advantages of regional development of science, technology, and talents in Silicon Valley to integrate cognitive science with educational psychology and surveying data. These innovation in areas, such as voice and language technology, can increase Dahai's scientific potential. Therefore, providing a driving force for the exploration of new educational models. By relying on scientific technique, we may also be able to solve the imbalance of education resources, allowing more children to enjoy high-quality personalized content. View original content to download multimedia:http://www.prnewswire.com/news-releases/dahai-one-to-one--cornell-university-customize-educational-training-courses-300856442.html
  • B dot Medical Developing Ultra-compact Proton Cancer Therapy System That Can Replace X-ray Cancer Therapy System
    TOKYO, May 24, 2019 /PRNewswire/ -- B dot Medical Inc. announced on May 24 that the company has initiated the development of an ultra-compact proton cancer therapy system that can replace the commonly used x-ray cancer therapy system (LINAC). More than 180,000 patients have been treated in proton therapy (Note) over the years. The use of proton cancer therapy became applicable for health insurance in Japan for pediatric cancer in 2016, followed by prostate cancer, head and neck cancer, and bone and soft tissue tumors in 2018. The number of patients that receive proton cancer therapy is expected to continue increasing. However, proton cancer therapy systems are very large, needing a dedicated building for installation, and therefore making its implementation very expensive and a large-scale project. Conventionally, a rotating gantry is used in order to irradiate from a desired angle. However, its rotating mechanism is very large and complex, making current proton cancer therapy systems large and therefore requiring dedicated buildings. B dot Medical has devised a non-rotating gantry which can bend the proton beam without requiring a rotating mechanism. This non-rotating gantry, which uses a superconducting magnet as a bending magnet, the form of which was also optimized, allows the system to be significantly downsized. The new ultra-compact proton cancer therapy system is not only easy to install in hospitals new to proton cancer therapy, but will be installable in the space of the commonly used x-ray cancer therapy system. By this, B dot Medical aims to develop a proton cancer therapy system that is easy to introduce to many hospitals. B dot Medical will continue to contribute in the fight against cancer through the development of proton cancer therapy and other pioneering cancer therapy systems. Image: Illustration of the non-rotating gantry systemhttps://kyodonewsprwire.jp/img/201905226662-O1-xiA1yj47 (Note)Proton cancer therapy is a high-precision radiation therapy. The proton (hydrogen atomic nucleus) is accelerated to up to 60% of light speed, delivered to the treatment room and is used to irradiate affected areas to kill cancer cells. Proton therapy is expected to be highly effective, with the ability to concentrate the beam on the target, keeping the irradiation of surrounding normal tissues limited. Reference List:-- National Cancer Center Hospital Easthttps://www.ncc.go.jp/jp/ncce/clinic/radiation_oncology/consultation/pbt/about.html -- National Association for Proton Therapy (NAPT)https://www.proton-therapy.org/science/ The ultra-compact proton cancer therapy system is still under development, and is not yet available for sale or distribution in Japan. Planned commercial availability in the US is to follow the Japanese market. About B dot Medical Inc.B dot Medical Inc. is a National Institutes for Quantum and Radiological Science and Technology (QST) start-up. With the mission to provide better treatment for more people, B dot Medical develops cancer radiotherapy systems and offer technical consulting services. Company informationCompany name: B dot Medical Inc.Address: (Tokyo office) 5-2-13, Shinozaki-cho, Edogawa-ku, Tokyo, 133-0061 JAPANRepresentative: President and CEO Takuji FurukawaEstablished: March 1, 2017Official website: https://bdotmed.co.jp/en/ View original content:http://www.prnewswire.com/news-releases/b-dot-medical-developing-ultra-compact-proton-cancer-therapy-system-that-can-replace-x-ray-cancer-therapy-system-300856411.htmlRelated Links :https://bdotmed.co.jp/en/
  • Recasting Traditional TV's Role in the Age of Online and Mobile Entertainment
    ConnecTechAsia2019 Summit speaker Ed Barton, Chief Analyst -- TV and Entertainment, Ovum, outlines the next step in television's evolution SINGAPORE, May 24, 2019 /PRNewswire/ -- From the live black-and-white broadcast of Neil Armstrong's first step on the Moon to the World Cup Final in ultra-high definition, television has stood the test of time often co-opting inventions that threatened disruption such as VHS, cable networks and the Internet. Ed Barton, Chief Analyst -- TV and Entertainment, Ovum Yet despite its enduring dominance television's viability is at a critical juncture due to the rise of Over-the-Top (OTT) video platforms, which stream content directly to audiences via the public Internet. Last year, OTT streaming services such as Netflix and Amazon Prime overtook pay TV subscriptions in the U.K. for the first time[1], with average daily broadcast TV viewership continuing its decline, down 38 minutes since 2012. Additionally, OTT's unabated growth saw its revenue total $13 billion in 2018 in APAC and is projected to more than double to $32 billion by 2024, increasing $4 billion in 2019 alone[2]. In the present era where audience expectations continue to evolve, traditional television as we know it faces severe challenges unless it reinvents itself…once again. A crowded marketplace While the television has grown to become a mainstay in most households around the world, its reign in the living room is being challenged by the evolution of content, business models, networks and devices that are forcing traditional television players to reexamine their role in the modern household. One key trend is the ubiquity of high-speed internet, as well as the rise of OTT and mobile video platforms which are fundamentally changing the way people watch. This has had profound impacts on audience viewing and spending habits. Compared to the traditional pay TV model that offers a bundle of channels at a relatively high price for long commitment periods, online and mobile audiences enjoy the freedom to pick and choose from a variety of services often at low-to-no cost with availability across multiple devices. While television broadcasters have been quick to adopt OTT and other video-on-demand (VOD) models, many have struggled to compete effectively against the native digital video platforms. The most successful broadcasters are using online and mobile television to amplify their traditional offerings and to cater to the evolving demands of audiences and advertisers. For example, by offering previous seasons of a series online in the lead up to the start of the new season on broadcast TV, while offering targeted, cross-platform advertising campaigns across broadcast, OTT, and mobile for a single buy. Remaining competitive in today's landscape demands more than just the newest technologies or the best content, but a strategy that addresses the varying demands of audiences around the World and across all age demographics. Television's new era New technologies such as 5G mobile networks and artificial intelligence (AI) are also offering possibilities for traditional television's revival. With exceptional bandwidth and low latency, 5G enables innovation of video in multiple areas. Augmented Reality (AR) and Virtual Reality (VR) elevate the viewing experience to provide more immersive viewing offering audiences a greater degree of control over the entire experience. For broadcasters, AI can help automate existing workflows driving down operating expenses while enabling innovation and efficiencies in audience insight, content recommendation and predictive analytics. Though still in its infancy, we are already seeing it at work with content recommendations, ad targeting, automatic captioning and subtitling, scheduling and even AI newscasters. While these evolving technologies provide interesting possibilities for traditional television, it is crucial that broadcasters themselves augment their offerings by ensuring the quality of the viewing experience is maintained across online and mobile devices, focusing on the content which is critical to their audiences, and working with partners to address gaps in the content and service proposition. With Disney+, Disney's direct-to-consumer streaming service, set to enter the market later this year traditional television players will need to consider their competitive positioning. Picking your battles and leveraging deep understanding of the viewing needs and habits of local audiences will be critical to surviving in an increasingly competitive OTT landscape, which we expect will drive the consolidation, or exit, of smaller players. Amidst these new technologies, industry changes and evolution of audience tastes, television at its core must retain focus on the critical factor: making shows which people want to watch. The allure of good content – whether premium dramas, live sports, relevant local news -- will always be the principle driver for audiences. Traditional television players have survived many threats in the past by maintaining this focus and co-opting the best of the technology innovations, and it must evolve and adapt once more in response to perhaps the most robust set of challenges it has ever faced. For more on how television broadcasters, Pay-TV and OTT players can navigate a digital-first age, and what future audiences will be like, I'll be sharing further in my opening address 'The Evolution of TV, Media and Entertainment' at ConnecTechAsia2019 Summit, Day 2, 19 June at Suntec Singapore. Additionally, join me and fellow panelists in the panel titled 'Digital-First Dialogue: Reinventing Television's Ambition for the Modern Age' on the same day at 11.30am, Suntec Singapore. [1] Ofcom, Media Releases: TV streaming services overtake pay TV for first time [2] Ovum, May 2019 For more information on ConnecTechAsia, please visit http://www.ConnecTechAsia.com. Media registration is now open at http://www.ConnecTechAsia.com/media-registration. Join our social conversation:FB | Twitter | LinkedIn -- #ConnecTechAsiaFB | Twitter | LinkedIn -- #BroadcastAsiaFB | Twitter | LinkedIn -- #CommunicAsia FB | Twitter | LinkedIn -- #NXTAsia About UBM ConnecTechAsia is organised by UBM, which in June 2018 combined with Informa PLC to become a leading B2B information services group and the largest B2B Events organiser in the world. Please visit http://www.ubm.com/singapore for more information about our presence in Singapore. Photo - https://photos.prnasia.com/prnh/20190524/2476176-1Logo - https://photos.prnasia.com/prnh/20190319/2407387-1LOGORelated Links :http://www.ubm.com
  • ST Foundation, a Leading Korea Technology Corporation, Takes Over 'MY1EX'
    SEOUL, South Korea, May 24, 2019 /PRNewswire/ -- ST Foundation, a leading Korean technology corporation, has taken over "MY1EX", a Southeast Asia Exchange under OKEX, a world-leading digital asset exchange. The corporation is also attracting attention from experts by accelerating its blockchain technology and opening its communication network and platform. "MY1EX", the digital asset exchange that shows the most active growth in Southeast Asia, is mainly focused on Vietnam as well as Thailand, Malaysia, Cambodia, Indonesia and Taiwan markets. As blockchain technology continues to attract interest from companies such as Samsung Pay, Kakao Pay and Facebook, the stagnant blockchain and the digital asset exchange market will experience growth and recovery. Meanwhile, ST Foundation has successfully listed cryptocurrency IST on global exchange BitForex and Digifinex. Also, ST Foundation launched its integrated Hook Messenger through New York Times Square and is receiving international attention through leading media outlets such as Reuters, Pax, and 150 other global press companies. The test version of Hook Messenger is also progressing rapidly, an officer in the iST project team said, "As global interest is coming around the world, we are preparing to conduct active advertising and marketing". In addition, the 'iST' project team announced the "iST TCF Multi Wallet". The iST TCF Multi Wallet includes technology such as ERC20 based Atomix Swap and many other functions for convenient use. "MY1EX" will hold an event that will greatly benefit pre-subscribers from May 27 to June 27. For more information about 'ST FOUNDATION', please visit the homepage at: stfoundationgroup.com Or join the Telegram group:https://t.me/stfoundationkor0  Koreanhttps://t.me/stfoundationchn0  Chinesehttps://t.me/stfoundationeng0  Englishhttps://t.me/stfounfationjap0  Japanesehttps://t.me/stfoundationru0  Russian Photo - https://photos.prnasia.com/prnh/20190524/2477236-1
  • Menicon Announces Launch of Menicon Bloom Myopia Control Management System
    - Launch Features Initial Introduction of Menicon Bloom Night, First and Only CE-approved Orthokeratology Contact Lens in Europe for Myopia Control - NAGOYA, Japan, May 24, 2019 /PRNewswire/ -- Menicon Co., Ltd. announced on May 24 the launch of the Menicon Bloom Myopia Control Management System, a holistic approach for myopia control management. The launch features the initial introduction of Menicon Bloom Night, an orthokeratology contact lens therapy for myopia control  management. (Logo: https://kyodonewsprwire.jp/img/201905216625-O1-4k0Q106r) Myopia, also known as near- or short-sightedness, is the most common refractive error and the major cause of vision impairment worldwide. It affects approximately 30% of the world's population and its prevalence has been forecast to affect about 50% of the world's population by 2050. The prevalence of myopia in young adolescents has been increasing in recent decades to about 30% in industrialized societies of the West and epidemic levels of over 90% in some parts of Far East Asia. Globally, it is recognized as a significant public health concern associated with increased ocular-related morbidity and considerable healthcare costs. Menicon Bloom Night therapy involves the overnight wear of a specially designed reverse geometry orthokeratology contact lens, manufactured in hyper oxygen-permeable Menicon Z rigid material that ensures optimal corneal oxygenation for comfortable and safe contact lens wear. The treatment temporarily changes the shape of the cornea, which results in reduction of refractive error, thus eliminating the need to wear contact lenses throughout the waking hours after lenses are removed. The new corneal shape provides a particular optical path for incoming light that counters the ocular growth response associated with myopia development. Through this mechanism, Menicon Bloom Night is indicated for the correction of refractive myopia and for control of myopia when prescribed and managed by a qualified eye care professional. Menicon Bloom Night contact lenses have been reviewed and validated via numerous comprehensive, peer-reviewed studies related to myopia control management. Menicon Bloom Night therapy has proven to be well accepted by parents and to improve children's self-esteem in terms of physical appearance, participation in activities, academic performance and peer perception. With the accumulation of long-term and comprehensive scientific evidence over the years, Menicon Bloom Night has met the highest standards of safety, efficacy and quality required to grant the treatment CE approval for myopia control management in Europe. The fitting of Menicon Bloom Night is optimized by the use of Easyfit software, a sophisticated, user-friendly tool which accurately guides the eye care professional through the fitting process. Additionally, a specially designed mobile phone application, Menicon's Virtual Dr., has been developed to enhance the monitoring and communication process between eye care professionals and patients. Menicon Bloom Night is only available for certified eye care professionals. With the launch of this groundbreaking myopia care therapy, Menicon has become one of the few companies to have devices officially approved for myopia control management in Europe and demonstrates the company's continued commitment to the field of myopia control. Menicon Bloom Night will be launched initially in The Netherlands, followed soon thereafter with launches in other European markets. Further information about the product and availability will be forthcoming soon. Dr. Hidenari Tanaka, CEO, Menicon Co., Ltd., commented: "We are delighted with the major breakthrough achieved with the approval and launch of our Menicon Bloom Myopia Control Management System. We are confident that our continuing commitment to myopia control management will position Menicon as a key contributor in this field and strengthen our position as a global vision care company. It is our belief that the growing prevalence of worldwide myopia progression requires a comprehensive and educated response and we have identified this as a major initiative within our development programs. As a pioneer of contact lenses, we will develop our myopia control business based on our accumulated technology, products and services and contribute to society by supporting eye care professionals in managing the fast growing incidence of myopia." About Menicon: Menicon Co., Ltd. (7780: Tokyo), founded by Mr. Kyoichi Tanaka in 1951, is Japan's first and largest contact lens manufacturer, and now is represented in over 30 countries. Menicon is a manufacturer dedicated to all areas of soft and gas-permeable contact lens-related businesses, including manufacture, sales, export and import of contact lenses and other medical goods; manufacture and sales of medical instruments; sales of medical supplies; and research and development of intraocular lenses. For more information, visit http://www.menicon.com. *"Bloom", "Bloom Night", "Menicon Z" and "Easyfit" are trademarks of Menicon Co., Ltd.
  • Sydney Secures Hamilton
    SYDNEY, May 24, 2019 /PRNewswire/ -- One of the most successful musicals of the decade, Hamilton, is coming to Sydney thanks to the NSW Government.  jwplayer.key="3Fznr2BGJZtpwZmA+81lm048ks6+0NjLXyDdsO2YkfE="   jwplayer('myplayer1').setup({file: 'https://cdn4.prnasia.com/002071/mnr/video/20190523DNSW.mp4', image: 'http://www.prnasia.com/video_capture/2661527_AE61527_1.jpg', autostart:'false', aspectratio: '16:9', stretching : 'fill', width: '512', height: '288'});   Hamilton announced for Sydney 2021 – (from left) Minister for the Arts Don Harwin, Premier Gladys Berejiklian, Producer Michael Cassel, Destination NSW CEO Sandra Chipchase, and Minister for Tourism Stuart Ayres   Company Hamilton National Tour Premier Gladys Berejiklian said more than 130,000 people are expected to visit NSW to see the production. "This is a huge win for NSW," Ms Berejiklian said. "Hamilton coming to Sydney demonstrates the global appeal of the Harbour City. "The musical is one of the most talked about Broadway shows, achieving massive success with a Grammy Award, Pulitzer Prize and a number of Tony Awards." Minister for Tourism Stuart Ayres said the production is expected support up to 350 jobs and generate more than $84 million in visitor expenditure. "Hamilton has been described as the hottest show on both Broadway and the West End and is sure to make its mark at the beautiful Sydney Lyric Theatre," Mr Ayres said. Minister for the Arts Don Harwin said the NSW Government is committed to attracting the best musical productions to the State.   "We are thrilled that Sydney will premiere one of the world's most successful musicals, Hamilton. This critically-acclaimed creative masterpiece has captured audiences globally through its unique storytelling and style," Mr Harwin said. Hamilton premiered on Broadway in August 2015 and took home 11 Tony Awards, including Best Musical, the Pulitzer Prize for Drama and the Grammy Award for Best Musical Theatre Album. It is also currently playing on tour in the US and in London's West End, where it opened in January 2017 winning seven Olivier Awards. Hamilton is the story of America's Founding Father Alexander Hamilton, an immigrant from the West Indies who became George Washington's right-hand man during the Revolutionary War and was the new nation's first Treasury Secretary. Hamilton's score blends hip-hop, jazz, blues, rap, R&B, and Broadway – the story of America then, as told by America now.  Hamilton will be presented at the Sydney Lyric Theatre from March 2021. People interested in purchasing tickets can register their interest on the following waitlist: HamiltonMusical.com.au. Production Notes: Featuring book, music and lyrics by Lin-Manuel Miranda, direction by Thomas Kail, choreography by Andy Blankenbuehler and musical supervision and orchestrations by Alex Lacamoire, Hamilton is based on Ron Chernow's biography of Alexander Hamilton. *Visuals of Hamilton can be downloaded here and a production footage can be downloaded here. Media Contact: Florence Rocca Destination NSW florence.rocca@dnsw.com.au+61-428-555-080 Video - https://cdn4.prnasia.com/002071/mnr/video/20190523DNSW.mp4 Photo - https://photos.prnasia.com/prnh/20190524/2476182-1-a Photo - https://photos.prnasia.com/prnh/20190524/2476182-1-bRelated Links :https://hamiltonmusical.com.au
  • Singapore's Special Needs Community Emerge as Winner at the Inaugural VMware Ideas Hackathon
    Inclusive innovators bring to life technology as a force for good; showcasing how technology can make Singapore more inclusive for special needs community Winning team from Ngee Ann Polytechnic's School of InfoComm Technology shine with idea for social network to address social skills and employment challenges SINGAPORE, May 24, 2019 /PRNewswire/ -- VMware today announced the successful conclusion of its inaugural Ideas Hackathon, where three teams were picked from a field of 11 teams to harness technology as a force for good. A total of 11 teams comprising 53 developers, coders, designers and tech enthusiasts from across the education, business and technology sectors took part in the Hackathon, conceptualizing creative ideas with technology at their core to make Singapore a more inclusive society for members of the special needs community. The Hackathon took place on 22 May 2019 at the St. Regis Hotel Singapore as part of VMware's flagship annual CIO Forum. With an objective of bringing together like-minded organizations and individuals to build a technology platform that helps students from Association for Persons with Special Needs (APSN) strengthen their social, numeracy and vocational skills, the Ideas Hackathon embodies VMware's EPIC2 (Execution, Passion, Integrity, Customers and Community) values and Tech for Good corporate purpose, with the aim of building an inclusive and caring society in Singapore. "The purpose of technology is to make the world a better place. At VMware, we call it using technology as a force for good," said Sanjay K. Deshmukh, vice president and managing director, Southeast Asia and Korea, VMware. "The inaugural Ideas Hackathon celebrates the use of technology for good and it is encouraging to see innovators come together from across the wider ecosystem to help build a more inclusive and caring society in Singapore. We are excited to be collaborating with the winning team from Ngee Ann Polytechnic on this project and look forward to the launch in the later part of this year." Mentored by industry experts from VMware and in consultation with APSN partners, Team Flippers from Ngee Ann Polytechnic's School of Infocomm Technology (ICT), comprising four members – Ernest Lim, Joel Tio, Lim Jiale and Liu Wai Ho, emerged as the overall winner after a grueling six-hour design and pitching process. The winning solution called "Connect Us" aims to serve as a social networking platform for the special needs community, for students, alumni and potential employers to connect, exchange views as well as to improve the employment-matching process. "The team is glad that we are able to put the knowledge we learnt from school to good use and help address the challenges faced by the special needs community both in terms of social skills and employment opportunities," said Team Flippers. "This being our first-ever hackathon, we found it an exhilarating process going from ideation to several rounds of brainstorming and finally pitching to the judges all in a matter of hours. We are thankful for the help from on-site mentors, and look forward to working with VMware, APSN and other participating organizations to develop the application fully in the coming months and contribute to making Singapore a more inclusive society." "We would like to congratulate Team Flippers for winning the VMware Ideas Hackathon. Their idea of "Connect Us" will go a long way in helping the special needs community overcome common challenges faced in their daily lives," said Dr Christopher Tay, CEO of APSN. "We would also like to thank VMware and all the participating teams in working together to make Singapore a more inclusive society for all. To us, the biggest winner today is the special needs community in Singapore, as the Ideas Hackathon has shown us just how powerful technology can be in serving the greater good of humanity." Team Flippers will now have three months to fully develop and launch its mobile application, "Connect Us" at VMware's vForum Singapore in August 2019. About APSN Established in 1976, Association for Persons with Special Needs (APSN) is a social service organisation providing special education for persons with mild intellectual disability (IQ 50-70). Today, APSN operates four Special Education (SPED) Schools (APSN Chaoyang School, APSN Katong School, APSN Tanglin School and APSN Delta Senior School) for students aged 7 to 21, an APSN Student Care Centre for children aged 7 to 18 and an APSN Centre for Adults for persons aged 16 and older, benefiting over 1,200 beneficiaries each year. To date, APSN's growing database has more than 5,000 alumni members. The Association is constantly expanding its network to reach out to and understand the needs of its members to better support them. For more information on APSN, please visit http://www.apsn.org.sg.  About VMware VMware software powers the world's complex digital infrastructure. The company's cloud, networking and security, and digital workspace offerings provide a dynamic and efficient digital foundation to over 500,000 customers globally, aided by an ecosystem of 75,000 partners. Headquartered in Palo Alto, California, VMware is committed to being a force for good, from its breakthrough innovations to its global impact. For more information, please visit https://www.vmware.com/company.html.   VMware is a registered trademark or trademark of VMware, Inc. in the United States and other jurisdictions.Related Links :www.vmware.com
  • Brilliant Corporate Services Honored at the 10th Asia Pacific Entrepreneurship Awards 2019
    NEW DELHI, May 24, 2019 /PRNewswire/ -- With the theme of 'Promoting Inclusive Economic Development Through Sustainable Entrepreneurship', 15 top entrepreneurs and enterprises were recognized at the Asia Pacific Entrepreneurship Awards (APEA) 2019 held at Hotel Andaz Delhi Aerocity, India on 18 April 2019. Organized by Enterprise Asia, the leading non-governmental organization for entrepreneurship in Asia, APEA is a regional awards program which aims to recognize Asia's outstanding entrepreneurs and enterprises for demonstrating sustainable growth, responsible leadership and operational excellence. Representatives of Brilliant Corporate Services Private Limited receiving the Asia Pacific Entrepreneurship Awards 2019 India under Corporate Excellence Category Leading the list of winners was Brilliant Corporate Services Private Limited for Professional and Business Services Industry, which received the award under the Corporate Excellence Category. Brilliant Corporate Services was established in the year of 2001. From a one-man company, it has turned to a private limited company in the year of 2010. The corporate office is at Chennai, Tamilnadu and works PAN India. Excellence in recruitment placement, personnel outsourcing and staffing, payroll management and personnel laws consultancy are encapsulated in the forefront of the Company's main objectives. The Company's vision in 3Cs include: Commitment for Excellence, Consistency in Performance, and Credibility as a Partner. The "Brilliant" team brings a distinctive blend of consulting expertise and deep experience across all Management, Compliance and Statutory matters. The staff at Brilliant Corporate Services work round the clock to provide better services to clients, enabling them to achieve scale by cost minimisation. The Company's areas of services include consultation and audit, establishment compliance, recruitment, factory compliance, contract labour compliance, human resource compliance, contract staffing, payroll compliance with ESS Support, up skilling, training and placements, data analytics, expats placements and management. Brilliant Corporate Services, as the name itself suggests, means brilliantly believing in their employees' abilities rather than custom tailored routines. The Company trusts their employees to put in their best efforts at work without any time constraints. Recognition is not based on the number of hours they work, but rather on the end product they deliver. Employees love this sense of trust and flexibility, and the Company has managed to maintain a dedicated, loyal, trustworthy team throughout the years. Strategies used by the Company to achieve sustainable growth include using a flexible approach and not pushing their services, understanding client needs and offering unique solutions which are fully aligned to their identified or distinctive need. Their solutions are based on metrics and analytics and they resolve to completely own the project and absolve the client to focus on their core areas. For Brilliant Corporate Services, innovation is about enhancing client experiences. The Company's aim is to deliver superior client service interactions without compromising on financial gains and profits. Interface through the Company's digital platforms helps clients reach them regardless of geographical constraints. This also enriches their value in regard to sustainability by working through a paperless online solution. The reduction in physical travel and paper work makes them proud of their contribution towards Sustainable footprint. The Company is truly a part of the Fourth Industrial Revolution which has fundamentally changed the way the employees live, work and relate. Currently, Brilliant Corporate Services is committed to delivering skills training programs for inclusive growth for youths around PAN India. The objective of the Skill Certification Scheme is to enable a large number of Indian youths to take up industry-relevant skill training that will help them secure a better livelihood. About Enterprise Asia Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. For further information, visit http://www.enterpriseasia.org. About Asia Pacific Entrepreneurship Awards Launched in 2007, the Asia Pacific Entrepreneurship Awards is the region's most prestigious awards for outstanding entrepreneurship, continuous innovation and sustainable leadership. The Awards provide a platform for companies and governments to recognise entrepreneurial excellence, hence spurring greater innovation, fair business practices and growth in entrepreneurship. As a regional award, it groups together leading entrepreneurs as a powerful voice for entrepreneurship and serves as a by-invitation only networking powerhouse. The program has grown to encompass 14 countries and markets all over Asia. For further information, visit http://www.apea.asia. Photo - https://photos.prnasia.com/prnh/20190523/2476254-1Related Links :http://www.enterpriseasia.org
  • WCG 2019 Xi'an Announces New Horizons' Games
    Be the [FUTURE] Player! SEOUL, South Korea and XI'AN, China, May 24, 2019 /PRNewswire/ -- The key differentiator of the WCG is the 'New Horizons' category. Pioneering future sports based on new technology Presenting new future entertainment including Robot Wars, VR Championship, AI Competition, Scratch (Coding) and Block Coding Contest using Lego World Cyber Games (WCG) reveals details of the 'New Horizons' sector, pioneering future sports based on new technology. WCG 2019 Xi'an is the return of the WCG, a completely different showcase from past WCG events. The most important differentiating element of the new WCG is the 'New Horizons' category. The ultimate goal of the WCG's New Horizons category is to build a future sports area, to create a play culture that allows anyone to easily take part and enjoy new technologies. The WCG will be held in Xi'an, China in July and will produce four events including robot, AI, VR, and scratch. In the field of robotics, WCG will hold the 'WCG Robot Fighting Championship: GANKER ARENA' with GJS ROBOT, a global battle robot developer based in Shenzhen, China. This competition is held using a battle robot (robot name: GANKER EX) that recognizes the motion of the body, using advanced motion control technology. In other words, the realistic version of the robot fighting contest that was seen in the movie 'Real Steel' can be seen at WCG 2019 Xi'an. This is not only a big leap in bringing mecha fighting from science fiction to reality but will also open up a tremendous 'new era' that involves robot combat as future sports. 'WCG AI Masters' is a way of organizing an AI soccer team by the players, developed according to the rules of the game Futsal. Players can utilize the well-designed online learning platform built by the WCG to develop algorithms and improve the playing ability of AI. The qualification is for everyone who studies and learns AI, and already over 100 teams from 38 countries applied for the preliminaries. 'WCG VR championship' is a VR game sports competition using the strategy simulation VR game Final Assault, developed by Phaser Lock Interactive (PLI). The upgraded observer function and MR (Mixed Reality) broadcasting are incredible to see. The VR Championship selected streamer qualifiers to represent North America, Europe, and APAC regions from broadcasted preliminaries. These streamers will match at the WCG 2019 Xi'an grand finals. Lastly, 'WCG Scratch Creative Challenge' will host the 'Block Coding Program Competition', which will use the coding programs Scratch 3.0 and Lego Education's new kits to create imaginative works. Professor Mitchel Resnick of the Massachusetts Institute of Technology (MIT) Media Lab, the founder of Scratch, will participate directly with students in the city of Xi'an. It is expected to become a forum for sharing new inspiration.   WCG CEO Lee Jung Jun said, "The new WCG will provide a new play culture that can be enjoyed by people all over the world, presenting more than an esports tournament. Through the colorful contents of New Horizons, I hope you will get inspiration of the future of entertainment." The WCG 2019 Xi'an event will be held from Thursday, July 18 to Sunday, July 21 at the Qujiang New District in Xi'an, China. WCG is currently displaying the enthusiastic interest of esports fans around the world by attracting about 40,000 global players from 111 countries in the Game Sports sector. WCG has finalized 336 Game Sports' preliminary contestants who will participate in the regional finals. WCG 2019 Xi'an regional finals will be held in 4 regions, Asia, North America, Europe and China, starting from May 27th. The regional finals will decide which players enter the WCG 2019 Xi'an grand finals. In addition to Game Sports and the New Horizon, the WCG will also release details of the 'Esports Conference' to share knowledge and the 'Festival' which will add variety of events for your pleasure. More information about WCG 2019 Xi'an can be found at WCG.com. About WCG WCG is a global esports festival aimed at creating a better world by uniting people from around the globe through a shared enjoyment of games and digital culture. By hosting the World Cyber Games as a global event with a wide variety of programs, WCG aims to go beyond being just an esports competition to becoming a festival of global harmony. Logo - https://photos.prnasia.com/prnh/20190522/2474740-1logo
  • China's first listed milk tea company Xiangpiaopiao attends THAIFEX, Asia's most influential food exhibition
    BANGKOK, May 24, 2019 /PRNewswire/ -- Xiangpiaopiao Food Co., Ltd., China's leading cup milk tea brand, will attend the 2019 THAIFEX-World of Food Asia from May 28 to June 1, where the beverage producer will showcase milk tea products and milk tea culture with unique Chinese characteristics. Since its inception in 2005, Xiangpiaopiao has been focused on the research and development of milk tea products. Bearing the mission of "Enable people to enjoy life more", the company introduced the concept of brewing milk tea in a cup to Chinese audiences, and in response to the changes in lifestyle habits among Chinese consumers, launched new products, among them, Meco fruit juice tea and Lan Fong Yuen milk tea, two beverages that are ideal for consumption in all seasons. Among all products, Xiangpiaopiao came up with the concept of milk tea specially formulated for brewing in a cup, and has, for many years, maintained the largest market share in China for the product. Its market share had reached 63.1% as of the end of 2018, far exceeding that of competitors. By selecting high-quality raw materials, developing a wide range of flavors with distinctive tastes and packaging in a personalized gift box, Xiangpiaopiao built a massive fan base by offering a rich, pleasant and warm consumption experience. China's first listed milk tea company Xiangpiaopao attends THAIFEX, Asia's most influential food exhibition Xiangpiaopiao's novel, strategic product Meco juice tea is positioned as "real tea and real juice", with a juice content of not less than 10%. In addition, the company selects only high-quality tea leaves for fresh extraction, never relying on a tea powder. For Meco's production process, the beverage maker adopts aseptic cold filling technology to ensure fresh taste, and complements it by drawing the attention of young consumers with fashionable, eye-catching packaging. The product can be stored at room temperature for 12 months and fully retain its freshness without any preservatives, setting an industry record. China's first listed milk tea company Xiangpiaopao attends THAIFEX, Asia's most influential food exhibition Lan Fong Yuen milk tea is based on the original Hong Kong-style milk tea, which was launched in 1952 and has been well known in Hong Kong for more than half a century. Xiangpiaopiao licensed the brand, inheriting the 66-year old traditional secret recipe, and transformed the milk tea from a classic street product to an instant drink, massively expanding the potential size of the market for the beverage. China's first listed milk tea company Xiangpiaopao attends THAIFEX, Asia's most influential food exhibition With high quality products, an innovative development concept and steady performance, Xiangpiaopiao has been successfully listed on the Shanghai stock exchange, becoming the first listed milk tea brand in China. THAIFEX-World of Food Asia is the most influential food expo in Asia, attracting thousands of exhibitors and visitors from all over the world every year. The Thailand-based food expo, by taking place in the second largest economy in Southeast Asia as well as the second largest in the region in terms of total foreign trade, will provide the best platform for Chinese food businesses to expand throughout Southeast Asia and into all ASEAN markets. Xiangpiaopiao will be present at booth NN43 in Hall 1, ready to receive and engage in discussions on site with dealers and distributors from all over the world. China's first listed milk tea company Xiangpiaopao attends THAIFEX, Asia's most influential food exhibition Xiangpiaopiao said that it plans to showcase its Xiangpiaopiao brewing milk tea, Meco fruit juice tea and Lan Fong Yuen milk tea, among other products, hoping to expand the market for the classic Chinese brand at the most influential food exhibition in Asia, and spread the message worldwide about the many ways that Chinese milk tea can be enjoyed at any time of the day. Photo - https://photos.prnasia.com/prnh/20190510/2460252-1-a Photo - https://photos.prnasia.com/prnh/20190510/2460252-1-b Photo - https://photos.prnasia.com/prnh/20190510/2460252-1-c Photo - https://photos.prnasia.com/prnh/20190510/2460252-1-d
  • TDH Holdings Announces Receipt of Nasdaq Continued Listing Deficiency Notice
    QINGDAO, China, May 24, 2019 /PRNewswire/ -- TDH Holdings, Inc. (PETZ), a PRC-based company that specializes in the development, manufacturing and sales of various pet food products under multiple established brands in China, Asia and Europe, today announced that on May 20, 2019 it received a notification letter from Nasdaq Listing Qualifications advising the Company that it failed to maintain a minimum of $2,500,000 in stockholders' equity for continued listing on the Nasdaq Stock Market as required under Listing Rule 5550(b)(1). The Company's recently filed Form 20-F for the period ended December 31, 2018 reported stockholders' equity of $(1,936,567). Since the Company does not meet the alternatives of market value of listed securities or net income from continuing operations, it no longer complies with the Nasdaq Listing Rules. As a result, the Company has 45 calendar days (no later than July 5, 2019) to submit a plan to regain compliance with the foregoing listing requirement. To the extent the Company's plan of compliance is accepted, it may be granted an extension of up to 180 calendar days from the date of the deficiency notification to evidence compliance. While the Company intends to submit its compliance plan to address the foregoing deficiency, the Company cannot provide any assurance that it will be able to present a plan of compliance that will be accepted by the Nasdaq staff. In the event the Company's plan is not accepted, the Company's securities may be subject to delisting and the Company may have the opportunity to appeal the staff's delisting determination to a Hearings Panel. About TDH Holdings, Inc. Founded in April 2002, TDH Holdings, Inc. (the "Company") is a developer, manufacturer and distributer of a variety of pet food products under multiple brands that are sold in the China, Asia and Europe. More information about the Company can be found at http://www.tdhpet.com. Cautionary Note Regarding Forward-Looking Statements Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties, including statements relating to the Company's ability to regain compliance with the Nasdaq listing requirements. Actual events or results may differ materially from the Company's expectations. Factors that could cause actual results to differ materially from those stated or implied by the Company's forward-looking statements are disclosed in its filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the time of this release. The Company disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law. For more information, please contact: Rongbing Cui, CFO     TDH Holdings, Inc.Email: tdhholdings@163.com Phone: +86 532-8591-9267 View original content:http://www.prnewswire.com/news-releases/tdh-holdings-announces-receipt-of-nasdaq-continued-listing-deficiency-notice-300855849.htmlRelated Links :http://www.tdhpet.com
  • Chengdu, Foodie Heaven in Asia
    CHENGDU, China, May 23, 2019 /PRNewswire/ -- The CPAFF, which ran from May 15 through May 22 in the capital city of Southwest China's Sichuan province, presented 45 sub-events and sideshows, including an opening ceremony, forums on cuisine culture, food experiences, as well as exchanges among chefs. As the official website for the Festival, https://foodfestival.gochengdu.cn provides the latest updates and information about the event and the city of Chengdu. Food is a universal language, and food festivals of various types are ways people frequently use to promote their food culture. Running alongside the Conference on Dialogue of Asian Civilizations in Beijing, the Chengdu Panda Asian Food Festival (CPAFF) proved a tasty side dish, impressing guests from around the globe. According to statistics from the site, the PV of the website reached nearly one million. At the opening ceremony of the Festival, the Chengdu Catering Profession Association announced the establishment of the Asian Food Culture Alliance (AFCA), in hopes of giving the people across the world a better understanding of the diverse food cultures in Asia. During the CPAFF, Thailand, Israel, Pakistan, South Korea, Singapore, Japan and China's Hong Kong and Macao special administrative regions held their theme events, offering the experiences of their unique cuisines and cultures. In the perspectives of many participants of the event, the Festival is not just about food, but about culture and people-to-people exchange. "I like Chengdu people's lifestyle and their attitude toward life," said Mr. Ran Peleg, Consul General of Israel in Chengdu, making no effort to conceal his love for the city. Mr. Peleg has a strong and special feeling for Sichuan food, in particular, spicy Sichuan dishes. "Twice Cooked Pork, Mapo Tofu, Dan Dan Noodles and hotpot are my favorites," he said. Mr. Vithit Powattanasuk, Consul General of the Royal Thai Consulate General in Chengdu, is also a fan of Chengdu food. "Food is the easiest and most effective way for cultural exchanges," he said, believing that food is key to cultural exchanges between Asia and the rest of the world. As the first UNESCO City of Gastronomy in Asia, Chengdu has the largest number of restaurants among all cities in China and showcases great inclusiveness and diversity in its food culture. Based on big data, in the first quarter of this year, the number of Asian restaurants in Chengdu increased by 56%, exceeding that in Beijing, Shanghai and Guangzhou, second only to Shenzhen. View original content:http://www.prnewswire.com/news-releases/chengdu-foodie-heaven-in-asia-300855968.html
  • Mafengwo Raises $250 Million in New Funding Round Led by Tencent
    BEIJING, May 23, 2019 /PRNewswire/ -- On May 23, 2019, Mafengwo announced that it has raised $250 million in its latest round of funding with Tencent Holdings Limited as a lead investor, and General Atlantic, Qiming Venture Partners, Yuantai Evergreen Investment Partners, NM Strategic Focus Fund and eGarden Ventures as co-investors. This new funding round has consolidated Mafengwo's position as a content giant in the tourism industry, which indicates that this online travel platform deeply rooted in the online travel community has risen to be a leading player. Mafengwo, a popular travel website among younger generations in China, officially started its commercial operation back in 2010. With massive high-quality original UGC and active users, it has rapidly become the largest travel community in China. Starting from hotel reservation service in 2015, Mafengwo has been continuously deepening its supply chain and forging its service capabilities to realize a complete commercial closed loop from community to e-commerce and from content to transaction. Mafengwo has achieved a Gross Merchandise Volume (GMV) growth of over 100% for four consecutive years. It is one of the few successful samples of content commercialization in the internet industry. Gang Chen, Co-Founder and CEO of Mafengwo, said, "It has always been our mission to realize everyone's travel dream. This latest round of funding will enable us to bring more high-quality travel intelligence and efficiency to Chinese travelers when it comes to making well-informed travel decisions. It can also help us create better travel experiences for our consumers by offering them more creative ideas and plans." He mentioned that Mafengwo would continue to reinforce the content barriers of "tourist consumption decision" by building a new one-stop travel service platform driven by AI and algorithm. Mafengwo completed its series D funding of $133 million in December 2017 from global leading investment firms including General Atlantic and Temasek, and others. This latest infusion of capital led by Tencent Holdings Limited represents that Mafengwo has officially become a key player in Tencent's layout, which will present a new competitive landscape in online travel market as well. In April, Gang Chen proposed a "New 3C Travel Strategy," which further emphasized the commercialization capability of pivoting around Content and leading Consumer and sustainable Commercialization. "Nowadays, Mafengwo has become the leader of new tourism e-commerce when online travel market has scaled up to trillion milestone," said Haifeng Lin, the investment and management partner of Tencent Holdings Limited. "By virtue of the content accumulated over ten years and the extremely strong techniques and innovation capabilities, Mafengwo has developed a successful model in the field of content e-commerce. We are pleased to support the continued rapid growth of Mafengwo's business through this round of investment. And we will fully leverage Tencent's content resources to assist Mafengwo in accomplishing a new leap forward." View original content:http://www.prnewswire.com/news-releases/mafengwo-raises-250-million-in-new-funding-round-led-by-tencent-300855909.html