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  • ZK International Group Co., Ltd. Provides Update on COVID-19 (Coronavirus) and Pre-Announces Revenues for the First Half of Fiscal Year 2020
    WENZHOU, China, April 8, 2020 /PRNewswire/ -- ZK International Group Co., Ltd. (ZKIN) ("ZK International" or the "Company"), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, announced today an update regarding the impact of COVID-19 (the "coronavirus") on its operations. After longer than usual shutdowns that spanned much of February due to Chinese New Year holidays and subsequently coronavirus-induced government mandated lockdown order, the production at the Company's manufacturing facilities in Wenzhou City has resumed since early March and has been running at full capacity. The Company experienced increased backlog of orders during the shutdown period and now expects gradual easing of the backlog as its production returns to full capacity. Additionally, ZK International announced that, despite that the Company took a slight hit as fallout from the coronavirus outbreak, which has disrupted not only the production but also its product flow starting from early February, the Company expects to report flat revenues for the first half of fiscal year 2020 (six months ended March 31, 2020).      Mr. Jiancong Huang, the Company's CEO and Chairman stated, "Even with the slow-down in the last two months, we have managed to get our manufacturing facilities completely up to speed and operate at full capacity. We look forward to another productive year, as we have built new relationships and have begun to explore new strategic opportunities that could solidify the future growth of the Company." About ZK International Group Co., Ltd. ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for sophisticated water and gas pipeline systems. The Company owns 33 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors. ZK has supplied stainless steel pipelines for over 2,000 projects, including the Beijing National Airport, the Beijing 2008 Summer Olympics facilities(including the "Water Cube", and "Bird's Nest").  Focusing on producing superior quality and durability of its steel piping, ZK International is providing a solution for the delivery of high quality, highly sustainable, environmentally sound drinking water to both China's domestic market and international markets such as Europe, East Asia, and Southeast Asia. For more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on Twitter, Facebook, YouTube, and Weibo. For further information on the Company's SEC filings please visit www.sec.gov. Safe Harbor Statement  This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantee of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict and many of which are beyond the control of ZK International. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are included in the Company's filings with the U.S. Securities and Exchange Commission. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized.  In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investor Contact:Tony Tian, CFA Weitian Group LLCPhone: +1 (732) 910-9692 Email: ttian@weitianco.com View original content:http://www.prnewswire.com/news-releases/zk-international-group-co-ltd-provides-update-on-covid-19-coronavirus-and-pre-announces-revenues-for-the-first-half-of-fiscal-year-2020-301037425.htmlRelated Links :http://www.ZKInternationalGroup.com
  • Samsung Biologics named Champion in 2020 CMO Leadership Awards
    SONGDO, South Korea, April 8, 2020 /PRNewswire/ -- Samsung Biologics (207940.KS) announced that it has been awarded the 2020 CMO Leadership Awards for its excellence in the Capabilities, Compatibility, Quality, Reliability, and Service categories across Big Pharma and Overall (combined Big and Small Pharma), making this the seventh consecutive year the company has received this distinction. Samsung Biologics named Champion in 2020 CMO Leadership Awards Notably this year, the company received additional recognition as "Champion" in the Capabilities and Reliability categories. The Champion title is a newly created label given to top performers who scored higher (one-half standard deviation or more) than the weighted average of other CMOs included in ISR's annual Contract Manufacturing Quality Benchmarking survey. The evaluation criteria for Capabilities category include having the most up-to-date manufacturing facility, the capacity to meet client demand, proven ability to manufacture API, and the capability to provide regulatory filing support, while the Reliability category is evaluated based on flexibility to adjust schedule for special requests, timely project management, fully owned facilities, and financial strength/stability. Being named Champion in these two categories is apt recognition of Samsung Biologics' continued efforts to become the most reliable CDMO partner in all facets including building and maintaining state-of-the-art facility with the largest capacity, and responding to client requests in a timely and flexible manner. "We are very pleased and honored to receive the CMO Leadership Awards yet again this year, especially with the distinction of being named Champion in the Capabilities and Reliabilities categories," said Dr. Tae Han Kim, CEO of Samsung Biologics. "We would also like to express our sincere gratitude to our clients who have expressed their satisfaction of our services by participating in the Life Science Leader's CMO Awards survey." "Life Science Leader's CMO Awards are the most meaningful in the drug development and manufacturing outsourcing industry. Each award represents the highest level of accomplishment as evaluated by actual customers. An award in any of the categories assessed, including capabilities, compatibility, expertise, quality, reliability and service, acknowledges the advanced leadership and execution at the CMO recipient. Congratulations to this year's CMO Award winners — you keep the industry moving forward," says Louis Garguilo, Chief Editor and Conference Chair, Outsourced Pharma. About Samsung Biologics Co., Ltd. Established in 2011 and headquartered in Songdo, South Korea, Samsung Biologics (KRX: 207940.KS) is a world-class CMO, CDO, and CRO offering state-of-the-art contract manufacturing, development, and laboratory testing services. With a proven regulatory approvals record, the largest capacity, and the fastest throughput, Samsung Biologics is an award-winning partner of choice and is uniquely able to support the development and manufacturing of biologics products at every stage of the process while meeting the evolving needs of biopharmaceutical companies worldwide. For more information, visit http://www.samsungbiologics.com. Press Contact:Claire Kim cair.kim@samsung.com   View original content to download multimedia:http://www.prnewswire.com/news-releases/samsung-biologics-named-champion-in-2020-cmo-leadership-awards-301037335.htmlRelated Links :http://www.samsungbiologics.com
  • GSX Techedu to Hold a Conference Call on April 9, 2020
    BEIJING, April 8, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in China, announced that it will hold a conference call to address recent market concerns on Thursday, April 9, 2020, at 7:00 AM U.S. Eastern Time (7:00 PM on the same day, Beijing/Hong Kong Time). GSX Techedu's management will deliver prepared remarks and take questions. Dial-in details will be released via press release shortly. About GSX GSX is a technology-driven education company and leading online K-12 large-class after-school tutoring service provider in China. GSX offers K-12 courses covering all primary and secondary grades as well as foreign language, professional and interest courses. GSX adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates each aspect of the Company's business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency. For further information, please contact: GSX Techedu Inc.Ms. Sandy Qin, CFAE-mail: ir@genshuixue.com ChristensenIn ChinaMr. Christian ArnellPhone: +86-10-5900-1548E-mail: carnell@christensenir.com   In USMs. Linda BergkampPhone: +1-480-614-3004Email: lbergkamp@christensenir.com View original content:http://www.prnewswire.com/news-releases/gsx-techedu-to-hold-a-conference-call-on-april-9-2020-301037324.htmlRelated Links :http://www.genshuixue.com
  • Leadership Transition at IFCO Group
    MUNICH, April 8, 2020 /PRNewswire/ -- The Advisory Committee of IFCO Group announced today that as part of a long-planned succession process, Wolfgang Orgeldinger will retire as CEO of IFCO Group and Michael Pooley has been appointed as new CEO of IFCO Group. Mr. Pooley will take over the responsibilities as Chief Executive Officer effective 1st July 2020.  Having joined in 2000, Wolfgang Orgeldinger has successfully shaped IFCO over the last 20 years, first as COO and since 2013 as CEO. He will remain committed and continue to support IFCO Group as he transitions to the Advisory Committee. This transition has been planned well ahead of time in close cooperation between Wolfgang Orgeldinger and the Advisory Committee and is designed to ensure a smooth transition and handover over the next several weeks. Michael Pooley is a strategic thinker who has led large scale successful growth and change programs in Brambles and Exova Group. He comes with very relevant experience in our industry within pooling and retail whilst having worked over 25 years in business management, sales and operations. Michael is well-known for his digital knowledge with a focus on track & trace and big data analytics. He graduated in 1990 from the University of Bath with a B. Eng. (Hons) Mechanical Engineering and earned an MBA at the Henley Management College. Stephan Förschle commented on behalf of the Advisory Committee: "We would like to thank Wolfgang for his outstanding commitment and contribution to IFCO's success and for his great support over the last 12 months following the ownership transition. Wolfgang has led the development of IFCO over the last 20 years into the leading global Reusable Plastic Crates (RPC) solution provider. We are very grateful that he will continue to support IFCO and our customers as a member of the advisory committee going forward." Mr. Förschle continued: "In close collaboration with Wolfgang, we have identified Michael through an extensive search process. We are confident that Michael will successfully continue IFCO's strategy and foster the company's profitable growth with innovative products, digital solutions and best-in-class services with an obsession to meet and exceed our customers' expectations. Michael knows IFCO and a number of our customers very well from his time at Brambles. He combines operational, technical and digital skills with commercial thinking and has a strong go-to-market drive." Wolfgang Orgeldinger added: "Since I have joined IFCO in December 2000, we have grown the company from a small niche player generating c. €200m revenues to a global leader in the RPC pooling industry with revenues of more than €1.0bn. The IFCO team has successfully entered new markets, steadily grown our client base, built-out our product and service offering, and improved our operations. This has led to strong, consistent growth even throughout challenging economic cycles. Within the last year, we have successfully managed the ownership transition and with knowing the IFCO Group is in good hands, it is the right moment for me to retire as CEO. I am excited to further support the company in my new role as a board member and am looking forward to seeing Michael Pooley and the whole team shaping the next chapter in IFCO's long-lasting success story." - Picture is available at AP Images (http://www.apimages.com) - Additional information IFCO is the leading global provider of reusable packaging solutions for fresh foods, serving customers in 50+ countries. IFCO operates a pool of over 314 million Reusable Plastic Containers (RPCs) globally, which are used for over 1.7 billion shipments of fresh fruits and vegetables, meat, poultry, seafood, eggs, bread, and other items from suppliers to grocery retailers every year. IFCO RPCs ensure a better fresh food supply chain by protecting freshness and quality and lowering costs, food waste and environmental impact compared to single-use packaging. More: http://www.ifco.com. ContactIFCO:Daniela CarboneVP - Global Marketing +49 89 99 38 87 51Daniela.Carbone@ifco.comhttps://www.ifco.com/Related Links :http://www.ifco.com/
  • AIA Pays Tribute to COVID-19 Healthcare Frontliners With Financial Support
    KUALA LUMPUR, Malaysia, April 8, 2020 /PRNewswire/ -- AIA Malaysia recently announced that it will be providing financial support to all doctors, nurses and hospital staff working in Ministry of Health (MOH) designated hospitals involved in screening and admitting COVID-19 patients in Malaysia. The offer is an extension of AIA's appreciation of the sacrifices and contributions made by the medical community in their line of duty at the frontlines of the virus. The financial support will cover COVID-19 healthcare frontliners working in MOH designated hospitals The financial support comes with the following benefits: Inconvenience Allowance: If a doctor, nurse or hospital staff is diagnosed with COVID-19 when carrying out their duties, they will receive a one-time inconvenience allowance of RM 1,000. Compassionate Relief: In the unfortunate event that the doctor, nurse or hospital staff passes away due to COVID-19, an additional lump sum of RM10,000 will be paid to his/her beneficiary. Ben Ng, Chief Executive Officer of AIA Bhd., said: "The tireless effort and dedication shown by the country's army of doctors, nurses and hospital staff have been truly selfless. These national heroes are the country's first line of defence in the fight against COVID-19 and we hope that with this contribution, we can help give them and their families peace of mind as they battle on the frontlines against this virus." "We sincerely thank all doctors, nurses and hospital staff for the sacrifices they are making in these extraordinarily challenging times. As Malaysians, we are in this battle together and we remain hopeful that we will ride out this storm as one," he said. The financial support provided to doctors, nurses and hospital staff is effective from 1 March until 30 June 2020 or when the total fund of RM2 million is fully disbursed (whichever is earlier), with no waiting period. This comes on the back of AIA's earlier announcement to provide free additional insurance and takaful coverage to its customers, employees and Life Planners. The coverage also provides hospitalisation and death benefits as part of AIA's commitment to continue to look after its customers and people, ensuring that they are always well-protected. For more information on the financial support, please visit www.aia.com.my/en/aiacares.html.  About AIA Bhd. AIA Bhd. is a leading insurer in Malaysia, where we have been privileged to do business since 1948. We offer a suite of financial solutions including Protection, Health, Personal Accident, Employee Benefits, General Insurance, Mortgage, Retirement and Family Takaful products to meet our customers' protection and financial security needs at every life stage. Through our wide and diverse distribution footprint which comprises a 14,000 strong Life Planner force, our exclusive bank partner's branches nationwide as well as corporate sales teams and brokers, we give our customers the choice of deciding how, when and where they connect with us. Part of the AIA Group, the largest independent publicly listed pan-Asian life insurance group, AIA Bhd. has the financial strength, experience, service centre network and a well-trained team of more than 2,000 employees to serve our 3.9 million customers nationwide. As at 30 June 2019, AIA Bhd.'s total asset worth was RM54.7 billion, with a paid-up capital of RM1,451 million. About AIA AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific -- wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, Mainland China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, a 97 per cent subsidiary in Sri Lanka and a 49 per cent joint venture in India. In April 2019, AIA was also granted approval as a preferred applicant to operate in Myanmar through a 100 per cent wholly-owned subsidiary. The business that is now AIA was first established in Shanghai a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$256 billion as of 30 June 2019. AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 34 million individual policies and over 16 million participating members of group insurance schemes. AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "1299" with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY"). Photo - https://photos.prnasia.com/prnh/20200408/2772182-1?lang=0Related Links :http://www.aia.com.my
  • TuanChe Limited to Report Fourth Quarter and Full Year 2019 Financial Results on April 15, 2020
    BEIJING, April 8, 2020 /PRNewswire/ -- TuanChe Limited ("TuanChe" or the "Company") (NASDAQ: TC), a leading omni-channel automotive marketplace in China, today announced that it plans to release its fourth quarter and full year 2019 unaudited financial results before the U.S. market opens on Wednesday, April 15, 2020. The earnings release will be available on the Company's investor relations website at http://ir.tuanche.com/. TuanChe's management will hold a conference call on Wednesday, April 15, 2020, at 8:00 A.M. Eastern Time or 8:00 P.M. Beijing Time on the same day to discuss the financial results. Listeners may access the call by dialing the following numbers: US (Toll-Free): 1-888-346-8982 International: 1-412-902-4272 Mainland China (Toll Free): 400-120-1203 Hong Kong: 852-3018-4992 Hong Kong (Toll Free): 800-905-945 Participants should dial-in at least 10 minutes before the scheduled start time and ask to be connected to the call for "TuanChe Limited". A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.tuanche.com/. A telephone replay will be available one hour after the end of the conference until April 22, 2020, by dialing the following numbers: US (Toll Free):  1-877-344-7529 International:  1-412-317-0088 Replay Access Code:  10140351 About TuanChe Founded in 2010, TuanChe Limited (NASDAQ: TC) is a leading omni-channel automotive marketplace in China. TuanChe offers services to connect automotive consumers with various industry players such as automakers, dealers and other automotive service providers. TuanChe provides automotive marketing and transaction related services by integrating its online platforms with offline sales events. Through its integrated marketing solutions, TuanChe turns individual and isolated automobile purchase transactions into large-scale collective purchase activities by creating an interactive many-to-many environment. TuanChe also provides virtual dealership services by connecting automakers and franchised dealerships with secondary dealers, which ultimately helps automakers penetrate and expand into lower-tier cities. Furthermore, leveraging its proprietary data analytics and advanced digital marketing system, TuanChe's online marketing service platform helps industry customers increase the efficiency and effectiveness of their advertising placements. For more information, please contact ir@tuanche.com. For investor and media inquiries, please contact: TuanChe LimitedCynthia TanTel: +86-10-6398-6232Email: ir@tuanche.com The Piacente Group, Inc.Ross WarnerPhone: +86 (10) 6508-0677Email: tuanche@tpg-ir.com Brandi PiacentePhone: +1 (212) 481-2050Email: tuanche@tpg-ir.com View original content:http://www.prnewswire.com/news-releases/tuanche-limited-to-report-fourth-quarter-and-full-year-2019-financial-results-on-april-15-2020-301037440.htmlRelated Links :http://www.tuanche.com
  • China-based Asclepius Metidec helps solve ventilator shortage with its innovative device
    SHANGHAI, April 8, 2020 /PRNewswire/ -- An innovative technology-powered medical device developed by Chinese medical equipment provider Asclepius Metidec has been successfully used in the treatment of patients with confirmed COVID-19. The hydrogen oxygen nebulizer, as a result of nine years of research and development by Asclepius Metidec, uses water electrolysis to produce three liters of mixed gas containing 66.66% hydrogen and 33.33% oxygen. Hydrogen, the smallest molecular gas in the atmosphere, can replace nitrogen to transport oxygen into the alveoli of the lungs. Hydrogen's powerful anti-inflammatory effect can prevent the acute inflammation caused by the virus and the concomitant multi-organ dysfunction. The hydrogen oxygen nebulizer, used to treat patients with mild to severe symptoms, has the potential to become one of the most vital adjuvant therapies in the global fight against the epidemic. The device can be used alone or in combination via a trident joint. It can be also used in parallel with oxygen pipelines, invasive ventilators and non-invasive ventilators in hospitals. The device, developed in 2015 by a research team led by Dr. Zhong Nanshan, head of the high-level expert group appointed by China's National Health Commission, is based on the positive clinical results of the treatment for patients with AECOPD or airway stenosis caused by bronchiectasis. The hydrogen oxygen nebulizer has been included in the Notice on Printing and Distributing the COVID-19 Diagnosis and Treatment Plan (Trial Implementation of the Seventh Edition). The World Health Organization translated the trial edition into English and then released the translated version to its member countries. Later, the hydrogen oxygen nebulizer was included in the Diagnosis and Treatment Plan for Severe and Critically-Ill Patients with COVID-19 (Trial Implementation of the Third Edition). Results of a GCP-compliant randomized controlled clinical trial of 150 subjects will be released following data collection in mid-April. In a real-world evidence (RWE) analysis of 259 COVID-19 patients treated with hydrogen oxygen nebulizers, researchers analyzed the patients at three stages: admission to hospital, before treatment with hydrogen oxygen nebulizers and after treatment with hydrogen oxygen nebulizers. Results showed that symptoms of the patients had significantly improved in terms of fever, cough, sputum, shortness of breath, chest tightness, chest pain and peripheral blood oxygen saturation (SpO2). Real-time data released by US-based Johns Hopkins University showed that the number of coronavirus cases has surpassed one million worldwide, with the US reporting the highest number. According to an article in the New England Journal of Medicine, scientists including Ashish K. Jha,professor of Health Policy at the Harvard T.H. Chan School of Public Health and the Director of the Harvard Global Health Institute, pointed out that there is a broad range of estimates as to the number of ventilators that the US will need to care for COVID-19 patients, from several hundred thousand to as many as a million, yet, no matter the number, there were not enough. At this critical moment when ventilators are in short supply on a global level, Asclepius Metidec's hydrogen oxygen nebulizer, an innovative Class III medical respiratory device which has been awarded 177 invention awards worldwide, is a boon for the world. With the joint efforts of Asclepius Metidec and global OEM leader Foxconn backed by its tens of thousands of workers, one million units of the hydrogen oxygen nebulizer are on track to roll off production lines within  90 days. It is believed that this batch of hydrogen oxygen nebulizers will play an important role in the fight against the epidemic. Official website: http://www.asclepiusmeditec.com For business cooperation, please contact: Benny.Lin, +86-13774356437, benny.lin09288@ascleway.comPeggy.Lai,  +86-18861627975, peggy.lai09063@ascleway.comWilliam.Chen, william.chen09222@ascleway.com    View original content to download multimedia:http://www.prnewswire.com/news-releases/china-based-asclepius-metidec-helps-solve-ventilator-shortage-with-its-innovative-device-301037380.htmlRelated Links :http://www.asclepiusmeditec.com
  • Aetna International Announces Waiver for Cost-sharing, Co-pay and Deductibles for COVID-19-related Inpatient Treatment
    SINGAPORE, April 8, 2020 /PRNewswire/ -- Aetna International today announced it is waiving cost-sharing, co-pay and other deductibles for inpatient hospital admissions related to COVID-19, as part of several additional steps to help international medical insurance members access the care that they need during the COVID- 19 pandemic. The announcement builds on Aetna International's recent efforts to expand patient access to consultations and medication through its virtual health offering, vHealth, which was made freely available to all members last week. "The health, safety and well-being of Aetna International customers and members is paramount, which is why we are announcing additional steps today to help provide timely and barrier free access to care during the COVID-19 outbreak," said Richard di Benedetto, president, Aetna International. "We are doing everything we can to make sure our members are supported and have simple and affordable access to the treatment they need, when they need it." As the number of COVID-19 cases continue to rise, Aetna International is closely monitoring developments in all countries where our members may be affected. Our thoughts continue to be with everyone that has been affected by the outbreak, and our sole focus is on ensuring the health and safety of our employees, customers and members. Treatment waivers If cost-sharing, co-pay or another deductible applies to a member's inpatient benefit, Aetna International will waive this for inpatient admissions at all in-network facilities for treatment of COVID-19 or health complications associated with the virus. This policy applies to all our international medical insurance members and is effective immediately for any such admission through to June 1, 2020. Enabling expedited access to treatment for members in the Americas Additionally, for Aetna International members in the Americas – particularly in US states like New York and Washington, which have the strongest prevalence of COVID-19 cases – hospitals no longer need advance approval from Aetna International for members requiring hospitalization for COVID-19. This change allows for expedited access to the necessary treatment. Aetna International is working closely with partner hospitals in the region to help transfer and discharge members with issues unrelated to COVID-19 from hospitals to safe and clinically appropriate care settings where they can continue to have their needs addressed. This will help hospitals and emergency rooms make room for more patients, especially those suffering from COVID-19. Diagnostic testing As well as treatment waivers, expedited access to treatment, and free access to virtual health services, Aetna International recently confirmed that members who undergo diagnostic testing for COVID-19 (as referred by a medical physician in an approved medical facility) will also be reimbursed in full for the cost of the test and consultation. Members should continue to follow the guidance issued by their local health authority and contact their local health care provider or a vHealth doctor if they have any concerns. About Aetna International Aetna International is committed to helping create a stronger, healthier global community by delivering comprehensive health care benefits and population health solutions worldwide. One of the largest providers of international private medical insurance, Aetna International serves more than 800,000 members worldwide, including expatriates, local nationals and business travelers. Its global benefits include medical, dental, vision and emergency assistance and, in some regions, life and disability. Aetna International also offers customised technological and health management solutions for health care systems, government entities and large employers to improve people's health, enhance quality of care and contain costs. Aetna International is a subsidiary of Aetna, a CVS Health company, which serves an estimated 39 million people with information and resources to help them make better informed decisions about their health care. For more information, see http://www.aetnainternational.com. or LinkedIn. Media enquiries for Aetna International: aetna@kaizo.co.uk Logo - https://photos.prnasia.com/prnh/20200407/2771016-1LOGO?lang=0
  • Yum China Has Completed the Acquisition of a Controlling Interest in Huang Ji Huang
    SHANGHAI, April 8, 2020 /PRNewswire/ -- Yum China Holdings, Inc. ("Yum China") (NYSE: YUMC) today announced that it has completed the acquisition of a controlling interest in the Huang Ji Huang group, a leading Chinese-style casual dining franchise business.  Yum China Has Completed the Acquisition of a Controlling Interest in Huang Ji Huang Founded in 2004 and headquartered in Beijing, Huang Ji Huang has over 640 restaurants in China and internationally. The group operates primarily under a franchise model and its brand portfolio consists of "Huang Ji Huang," an industry-leading simmer pot brand, as well as "San Fen Bao," a newly launched Chinese fast food concept in China. Following the acquisition, Yum China will establish a Chinese Dining Business Unit comprising three core Chinese dining brands, Little Sheep, East Dawning, and Huang Ji Huang. The Company aims to gain a stronger foothold and enhanced know-how in the Chinese dining space, which represents a significant share of the dining market in China. With Yum China's scale and system capabilities, and Huang Ji Huang's track record and capabilities of product R&D, franchisee management, and Chinese dining know-how, the acquisition is expected to create synergies. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding our future business plans and anticipated synergies from the acquisition. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as "expect," "expectation," "believe," "anticipate," "may," "could," "intend," "belief," "plan," "estimate," "target," "predict," "likely," "will," "should," "forecast," "outlook," "look forward to" or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved, the integration of Huang Ji Huang may require significant time, attention and resources, and the expected synergies from the acquisition may not be realized. The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations " in our Annual Report on Form 10-K) for additional detail about factors that could affect our financial and other results. About Yum China Holdings, Inc. Yum China Holdings, Inc. is a licensee of Yum! Brands in mainland China. It has exclusive rights in mainland China to KFC, China's leading quick-service restaurant brand, Pizza Hut, the leading casual dining restaurant brand in China, and Taco Bell, a California-based restaurant chain serving innovative Mexican-inspired food. Yum China also owns the Little Sheep, COFFii & JOY and East Dawning concepts outright. The Company had 9,200 restaurants in over 1,300 cities at the end of December 2019. Yum China ranked # 362 on the Fortune 500 list for 2019. In 2020, Yum China was named to the Bloomberg Gender-Equality Index and was certified as a Top Employer 2020 in China by the Top Employers Institute, both for the second consecutive year. For more information, please visit http://ir.yumchina.com. Investor Relations Contact: Tel: +86 21 2407 7556 IR@YumChina.com  Media Contact: Tel: +86 21 2407 7510 Media@YumChina.com View original content to download multimedia:http://www.prnewswire.com/news-releases/yum-china-has-completed-the-acquisition-of-a-controlling-interest-in-huang-ji-huang-301037348.htmlRelated Links :http://ir.yumchina.com
  • Ping An Good Doctor Launches Global Medical Consultation Platform in 24/7 Support of Anti-COVID-19 Efforts
    SHANGHAI, April 8, 2020 /PRNewswire/ -- The global COVID-19 situation has been deteriorating day by day, with the world's confirmed cases totalling 1.41 million and death exceeding 80,000 until 6am on 8 April. Today, Ping An Healthcare and Technology Company Limited ("Ping An Good Doctor"; stock code: 01833.HK), the world's leading healthcare ecosystem platform announced the official launch of its Ping An Good Doctor Global Medical Consultation Platform, which offers 24/7 online consultation services for global users and will bring the world China's anti-epidemic aid with its powerful consultation capabilities and ample anti-epidemic experience. Screenshot of Ping An Good Doctor Global Medical Consultation Platform Beginning today, overseas users can enter the Ping An Good Doctor Global Medical Consultation Platform through this link: https://consult.jk.cn/?source=qr#/, Ping An Good Doctor's Twitter page (twitter.com/PAGoodDoctor) or LinkedIn page (linkedin.com/company/ping-an-good-doctor) to obtain professional COVID-19 consultation services and anti-epidemic guidance. The platform assembles Ping An Good Doctor's international team of medical experts, who all once occupied positions of attending physician or higher in Grade III Level A hospitals in China. The experts are from departments including respiratory, internal medicine, traditional Chinese medicine and general, and possess abundant hands-on anti-epidemic experience in China. They also have experience in working for international hospitals and overseas exchange. The platform provides 24/7 English consultation services for overseas users, offering them scientific help in their journey through the COVID-19 epidemic. In fact, since the Spring Festival, a large number of overseas Chinese have enjoyed the professional online consultation service and psychological counseling of Ping An Good Doctor through the Ping An Good Doctor APP and anti-epidemic hot-line. A full-time doctor from Ping An Good Doctor revealed that he had received an inquiry from a Chinese from Spain. The Chinese family had settled in Spain and he recently developed symptoms such as dry cough, runny nose, sneezing and other suspected COVID-19 symptoms. He had been afraid to go to the hospital because of the development of the epidemic in Spain and worried about the infection of his family, feeling anxious and panic. Through the anti-epidemic free consultation line of Ping An Good Doctor, he consulted the experts of Ping An Good Doctor in detail, and finally ruled out the possibility of COVID-19, feeling relieved. Meanwhile, in the coronavirus battlefield of China, Ping An Good Doctor immediately activated the anti-epidemic online consultation platform and united with more than 100 governmental organisations and 700-odd renowned enterprises to introduce free consultation services, taking full advantage of online healthcare's strengths of being efficient, safe and non-contact infection. From Jan. 20, 2020 to Feb. 10, 2020, the Ping An Good Doctor platform has recorded 1.11 billion visits. About Ping An Healthcare and Technology Company Limited As the world's leading healthcare ecosystem platform, Ping An Healthcare and Technology Company Limited ("Ping An Good Doctor"; stock code: 1833.HK) strives to provide every family with a family doctor, every person with an e-profile and everyone with a healthcare management plan through our "mobile medical + AI technology". At present, Ping An Good Doctor has established key business segments including online medical services, consumer healthcare, healthcare mall, and health management and wellness interaction. As of 31 December 2019, our number of registered users reached 315 million and the number of monthly active users reached 66.9 million, it has become the largest mobile medical application in China in terms of coverage. Being powered by self-developed AI-assisted diagnosis system, our in-house medical team strives to provide users with one-stop medical services covering 7/24 online consultation, referral, registration, online drug purchase and one-hour medicine delivery. On 4 May 2018, Ping An Good Doctor became the No.1 listed internet healthcare company in the world when it joined the Hong Kong Stock Exchange, stock code 1833.HK. Photo - https://photos.prnasia.com/prnh/20200408/2772166-1?lang=0
  • Mindray Chairman's Statement on Efforts to Combat COVID-19
    SHENZHEN, China, April 8, 2020 /PRNewswire/ -- Mindray (SZSE: 300760) -- As COVID-19 is casting a dark shadow over people's health, healthcare providers around the world are fighting relentlessly against the virus. We salute all medical staff for their valiant efforts to save patients' lives and battle the outbreak. As China's leading medical devices and solutions provider, we have been the main force ever since the epidemic broke out in China, working around the clock to support healthcare professionals. Now that the virus is spreading around the world, we are connecting international medical experts and providing precise treatment for patients with advanced products and services, as well as valuable medical insights. We always put customer needs in the first place. To offer the best-customized solutions to cope with COVID-19, we have worked closely with healthcare professionals around the world and identified their pain points varying in different regions. In face of high installation volume, unstable traffic and hazardous environment, our field service engineers have adhered to strict protocols and offered timely and safe assistance to healthcare providers. Our easy-to-use and multi-functional products from PMLS, IVD and MIS units are fully equipped to ensure better healthcare for more patients. In addition, our IT solution and online clinical guidance make sure that healthcare providers could treat patients adequately without contracting the virus. As a platform of knowledge exchange, we have invited Chinese experts to share their insights in COVID-19 patient treatment with medical professionals around the world in our webinar program. We will further explore possibilities where we can support patients and healthcare professionals who are fighting against the virus. We are doing our best to ramp up manufacturing capacity. Our medical products, including patient monitors, ventilators and ultrasound devices, are crucial in the diagnosis and treatment of COVID-19 patients. Facing a soaring demand from healthcare providers around the world and a disruption of the global supply chain, we have been cooperating with governments and suppliers to mitigate shortages and safeguard the production line. Our employees at the manufacturing center cancelled official holidays and thanks to their hard work, we have multiplied manufacturing capacity. While striving to maintain business continuity, we have also taken strict sanitation steps to ensure the safety of our products during the whole manufacturing process. We cherish our employees' health. Our success is based on their professionalism, efficiency and responsibility at work. To protect our employees across the globe, we have restricted business travels and arranged online conferences instead. We have asked regional offices to follow local health authorities' guidelines and initiate work-from-home protocol. As the virus spread is slowing in China, we have increased sterilization and cleaning measures of office facilities, offered surgical masks at the workplace, practiced social distancing and monitored our employee's health by temperature screening on a daily basis. We will further implement these hygiene measures in regional offices and provide a safe working environment for all our employees. Thanks to our strict protection guideline, we are very proud to announce that none of our field service employees were infected. In a time when the mission to save lives is more important than ever, we are doing all we can to bring healthcare within reach. To date, we have donated 4.6 million USD worth of devices to hospitals all over the world. We will keep protecting our employees' health and safety, standing with healthcare providers and giving better care to patients around the globe. Kind regards,Li XitingChairman of Mindray  
  • Zilingo Joins Hands With Caritas Manila Foundation to Extend Aid to Filipino Frontliners and the Less Fortunate
    MANILA, Philippines, April 8, 2020 /PRNewswire/ -- Zilingo, the leading fashion technology platform in association with Caritas Manila Foundation launched a fundraising campaign, 'Love, Zilingo' in an attempt to lend a helping hand to the healthcare workers and the disadvantaged greatly affected by the prolonged community quarantine owing to the COVID-19 pandemic. Zilingo Joins Hands With Caritas Manila Foundation to Extend Aid to Filipino Frontliners and the Less Fortunate As a part of the initiative, citizens can come together to assist the Filipino community at large opting to donate Goody bags worth Php 700 and Php 2000 or choose from the donation vouchers valued at Php 50, Php 100, Php 500 and Php 1000 from http://www.zilingotrade.com or http://www.zilingoshopping.com. Proceeds from  'Love, Zilingo' will be donated to Caritas Manila Foundation and utilized in buying necessary provisions like instant and ready-to-make food items, water, medicines, maternal and child healthcare supplies, rubbing alcohol and face masks among others. These items will be distributed to select municipalities in Metro Manila, like Quezon City, Caloocan, Las Piñas, Makati, Malabon, Mandaluyong, Marikina, Muntinlupa, Navotas, Parañaque, Pasay, Pasig, San Juan, Taguig, and Valenzuela,  to name a few. "Despite the challenges of social distancing and limited resources during this difficult time, solidarity and the ability to work together coherently is of foremost importance now," said Shiela Mauricio, Zilingo Head of Commercial. "And through this campaign, we are trying to utilize Zilingo's e-commerce platform to the best of its ability to reach out and help our health workers and those who are in need," she added. The eDonation drive gives an opportunity to the people who are confined to their homes to contribute and provide assistance even in a small way for the welfare of the frontline workers who are battling the spread of the COVID-19 daily as well as to those deprived who are unable to sustain their families in this difficult period. "We believe that we can get through this crisis, through everyone's generosity and kindness. Let us share the love in this critical moment and extend our care to fellow countrymen. Together #WeCanDoThis," concluded Ryza Dipatuan, Zilingo Marketing Director. About Zilingo Zilingo is a technology platform that powers the entire fashion supply chain. It was founded in 2015 by Ankiti Bose and Dhruv Kapoor with a vision to use technology to put responsible and efficient business within everyone's reach. The fashion industry is dominated by a select few - favoring only those with social, human and financial capital. At Zilingo, we believe the future of fashion belongs to everyone. By using smart, technology-led solutions to bridge the gap between creators and producers, we've reimagined the fashion supply chain to make it fair, connected and transparent for all. Find out more on business.zilingo.com. Photo - https://photos.prnasia.com/prnh/20200407/2771284-1?lang=0
  • JERDE introduces Southeast Asia projects
    SINGAPORE, April 8, 2020 /PRNewswire/ -- JERDE, the iconic and internationally renowned architecture and urban planning firm, introduces new projects in Southeast Asia, Japan, and Turkey. Since officially beginning operations in Southeast Asia over the summer, the firm continues to build new partnerships and developments in Singapore, Vietnam, Malaysia, Indonesia, the Philippines, and other neighboring countries in the region. Design Principal and shareholder Ken Ho recently transferred to Singapore from JERDE's Los Angeles headquarters, and will be supported by Design Director John Simones and the rest of the LA-based JERDE team on new design concepts for complex and innovative projects.   "It is exciting to see the physical growth of cities in Asia as rich culture and heritage are interwoven into the design of each project. My personal interest in the subject has brought me back to Singapore, making the rest of the region easily accessible. In each of these cities, it is evident that the placemaking concept is more important now than it ever has been before, as people are looking for more unique experiences in their day to day lives. What interests me are designs that are a reflection of the current socio-economic climate, and what we believe are the intrinsic needs of people," said Ken Ho. JERDE’s Master Plan connects the mixed-use Bintaro Jaya district in Jakarta, Indonesia, to the adjacent university and create an overall intellectual and innovation district Bintaro Jaya, Jakarta, Indonesia Located on a site spanning over 30 hectares as the area's new Central Business District, Bintaro Jaya is one of the first fully integrated, mixed-use, transit-oriented developments in Jakarta. Combining retail entertainment, culture, residential, office, hotel, and vast public space, the project represents a new standard in urban land use for the region. JERDE's conceptual master plan incorporates key urban design principles to connect the mixed-use Bintaro Jaya district to the adjacent university, creating a district geared toward the intellectual and innovative– a Creative Community concept that forms the "gateway" and identity of the entire Bintaro development. Built into, and enhancing the topography of the site, the design creates a natural transformation of the property into a public urban park complete with sculptural landforms, terraces of the tropical landscape maintained by recycle rain and grey water, trails and play areas, event spaces, interaction of outdoor and indoor pedestrian activities. The unique glass towers rising out of the urban oasis serves as an architectural signature and presence within the city. JERDE created a Master Plan for the Casino & Resort Phu Quoc in Vietnam to take advantage of the site’s natural settings of a lush tropical landscape and coastline Casino & Resort Phu Quoc, Phu Quoc, Vietnam Set amidst the lush tropical landscape and spectacular coastline of the city, Casino & Resort Phu Quoc delivers a world-class entertainment destination inspired by history, culture, and nature. Generating a vibrant seaside escape, this integrated development offers rich experiences of commercial and lifestyle activities to its guests. JERDE created a master plan to take advantage of the site's beautiful natural settings and to maximize long range and unobstructed views toward the seaside by the careful positioning and orientation of the different buildings. A pedestrian-oriented design also organizes the districts within the resort, allowing guests to explore the unique amenities as they stroll from the beachside to the commercial area. Within 663,684 sq m, JERDE developed one 5-star resort, two 4-star resorts, a casino, conference facilities, a retail village, and a water park. Launched in 2018, the project is currently run by local partner Vingroup. About JERDE JERDE is a visionary urban design studio creating signature places that deliver memorable experiences and attract more than a billion people each year. For 40 years, JERDE has pioneered the concept of "Placemaking" with more than 120 major projects on six continents. Headquartered in the heart of Downtown Los Angeles, each JERDE client works closely with an equity partner to take a boutique, collaborative approach to the creative process of design and architecture. JERDE places attract people providing lasting social, cultural and economic value, spurring further investment and revitalization. JERDE is one of only a few architectural firms awarded six ULI Global Awards for Excellence in addition to many of the industry's other highest honors and recognitions.  JERDE has designed mixed-use, hospitality, and retail destinations throughout the world including Langham Place in Hong Kong, Roppongi Hills in Tokyo, D-Cube City in Seoul, and more recently the Grand Hyatt Sanya Haitang Bay in Hainan, China, a MIPIM Asia Gold Award winner for Best Hotel & Tourism Development. In its home country of the United States, JERDE has designed well known sites such as Bellagio in Las Vegas, Pacific City in Huntington Beach, as well as the makeovers of the world famous Santa Monica Place and Fashion Island Malls. Photo - https://photos.prnasia.com/prnh/20200407/2770897-1-a?lang=0 Photo - https://photos.prnasia.com/prnh/20200407/2770897-1-b?lang=0 Logo - https://photos.prnasia.com/prnh/20200407/2770897-1LOGO?lang=0 Related Links :https://www.jerde.com/
  • HNA's Africa World Airlines helps the Ghanaian government in the fight against COVID-19
    BEIJING, April 8, 2020 /PRNewswire/ -- With the spread of COVID-19 worldwide, Africa, the continent with the largest concentration of developing countries, faces severe challenges in terms of funding and shortages of material and equipment needed for epidemic prevention and control. HNA Group's Africa World Airlines (AWA), a Ghana-based domestic airline, has been actively working with the local government to combat the outbreak. At 3 pm GMT on March 29, Africa World Airlines donated $100,000 to the Ghanaian government during a ceremony at the presidential palace. Akosua Frema Osei-Opare, Chief of Staff of the Republic of Ghana; Togbe Afede, president of the National House of Chiefs of Ghana; Wang Shiting, Chinese ambassador to Ghana; Chai Zhijing, commercial counselor of the Chinese embassy in Ghana; and Luo Cheng, co-chairman of Africa World Airlines, attended the event. At the ceremony, Mrs. Osei-Opare, on behalf of President Akufo Addo, expressed their thanks to Africa World Airlines. She said that China was the first country to donate to Ghana and that the donation served as a demonstration of the sincere friendship between the two countries and peoples. The Chinese ambassador, Mr. Wang, said that since its inception, Africa World Airlines has become the leading airline not only in Ghana but also throughout western Africa and that its air services have not only connected major cities in its home country, but also significantly improved connectivity throughout the region. He also spoke highly of the airline's support to Ghana in the fight against the COVID-19 outbreak. HNA implements the One Belt, One Road initiative by building an "air bridge" creating connectivity along the route Since the One Belt, One Road initiative was launched nearly seven years ago, HNA, a leader in the civil aviation industry, has been actively engaged in the initiative's implementation. HNA's airlines now operate nearly 50 routes within the regions targeted by One Belt, One Road. Through air transport, the group has created a One Belt, One Road network that plays a key role in achieving the goals of the initiative. Africa World Airlines is the first air carrier to receive an investment from a Chinese company on the African continent. The investment is a breakthrough in terms of China moving from traditional investment and serving as contractors in Africa to the continent's aviation service industry. In September 2018, speakers at the Beijing Summit of the Forum on China-Africa Cooperation once again stressed the need to deepen the comprehensive strategic partnership between China and Africa, consolidating the impetus in building a closer Sino-African community. Over the past seven years, Africa World Airlines has grown into the largest passenger airline in Ghana, with 98% local employees and an over 60% market share. The airline has provided great support to Ghana's efforts in establishing the country as the region's aviation hub, and has provided the momentum for the development of a local aviation market and tourism industry. HNA leverages its experience to help Africa World Airlines accelerate development with Chinese programs HNA has been following a strategy of encouraging Chinese companies to invest in Africa and support them when they do, opening international routes that connect with African countries and establishing its first overseas airline in the region. Despite the high prices for air transportation, the low number of passengers, the challenges brought about by the Ebola virus, losses in the African aviation industry and the risk of bankruptcy that has plagued most airlines in the region at one time or another, HNA has backed the African subsidiary with an investment of more than US$30 million and watched it turn a profit just two years after inception. By doing so, HNA has created a model for cooperation between the Chinese and African aviation sectors. Since its inception 27 years ago, HNA has accumulated extensive operation and management experience in the aviation industry. Africa World Airlines is another example of HNA's rich experience in managing airlines in overseas markets. HNA has leveraged its own professional aviation management capabilities and rich management experience in day-to-day operation and safety, and in providing a level of service that shows a real interest in the passenger's experience and comfort, helping its African subsidiary grow and expand.  Based on the local situation, HNA has always taken safety management as a priority. The airline's proven record in terms of safety has been a key factor in why charter flight operators have overwhelmingly chosen to work with its two-year old subsidiary. Meanwhile, by controlling costs, employing local staff, offering systematic training, continuously improving service quality, and fulfilling social responsibilities, Africa World Airlines has become a preferred choice among local travellers. All these factors have played in role in the airline being able to turn a profit in such a short time.  HNA Group has taken many steps in optimizing its own international operation and safety management, corporate culture, brand building and cultural integration, to create a model that is representative of the development of China's civil aviation industry. Sino-African cooperation in aviation creates an international brand, extending the industrial chain and boosting Africa's economic development Africa World Airlines' growth has had the knock-on effect of fueling tourism to the degree that it has become the fastest growing industry in Ghana, replacing the timber industry as the country's third largest foreign exchange earner. Ghana has also shifted its focus from primary industries such as agriculture and mining to tertiary industries such as tourism and aviation. In line with the shift, Chinese investors have moved from traditional plays such a mining and project contracting to service-oriented ones. The Chinese-invested Africa World Airlines has won a series of awards including the Best Airline Award from the Ghana Tourism Authority, the first Safest Airline Award from the Ghana Civil Aviation Authority, and Africa's Best Brand from the World Brand Congress. In order to promote the adoption of its high-tech, value-added products in Africa and optimize the structure of its fleet, HNA Group, via Africa World Airlines and other airlines, will bring China's technologically mature ARJ21 regional passenger jetliner to Africa to meet local needs for such aircraft. The move will help create opportunities for Chinese manufacturers who are looking to become involved in the civil aviation industry along the One Belt, One Road route, while providing China-made aircraft with wider access to international markets. In time of need, supporting Ghana's fight against COVID-19 According to a spokesperson for Africa World Airlines, since its investment in the Ghanaian airline, HNA Group has integrated its own development roadmap into the national development strategy, aiming to facilitate the rapid growth of Africa World Airlines with HNA's advanced aviation management experience. In Ghana, corporate social responsibility is particularly important. Operating an airline is a long-term commitment rather than an investment with a short-term exit plan. As a result, being socially responsible must be a key component of corporate development. As Africa now needs to ramp up its efforts in preventing and controlling the spread of COVID-19, Africa World Airlines needs to focus on its corporate social responsibility and do its part to help local governments fight the epidemic. The COVID-19 outbreak has served to heighten something that HNA Group has always taken to heart and made part and parcel of its corporate philosophy: being of service to society and helping others in a time of need. The Hainan-based global airline strives to support national diplomacy and local development. The company has to date transported 97,321 pieces of equipment (1,200+ tons) for use in COVID-19 prevention, sent 2,877 medical personnel via 24 charter flights to Hubei, repatriated 713 stranded passengers via 5 charter flights to Hubei, and transported 60 tons of medical supplies in the first freight charter to Hungary in support of the international fight against the epidemic. The various efforts involved an investment of nearly 70 million yuan, demonstrating the social responsibility of the Chinese carrier. Africa World Airlines donates to the government of Ghana   HNA jointly invests in the formation of Africa World Airlines (AWA) in Ghana through tripartite cooperation   Africa World Airlines’ official publicity photo
  • Kuaishou user attracts 220,000 followers using just lettuce, cucumbers and potatoes
    BEIJING, April 8, 2020 /PRNewswire/ -- Using everyday ingredients and necessities, Li Xiaodong, 39, also known as @xuanbaobaba on Kuaishou, attracted more than 220,000 followers as he recreates cutscenes and characters from popular movies and stories. Li claimed this idea came to him, while he was on lockdown at home due to the COVID-19 pandemic. Li, a feature film postproduction professor by training, found himself bored and looking for an outlet to express his creativity. Other than cooking, Li spent time watching reruns of his favorite movies, such as Crouching Tiger, Hidden Dragon (2000). Frustrated, he pieced his love for cooking and movies together and thus inspired his unique artform.   Li credited his viral videos to the ubiquity of the well-known, and well-loved, films. "Many creative internet celebrities film things that are trendy, but I prefer old school stuff, I watch martial arts movies and read classic Chinese novels when I was young, so I like to make something like that", said Li. For Li, the work is all about being authentic in an age of social media and putting his energy in things he likes with his loved ones. Li now has more than 220,000 followers on Kuaishou since he posted his first home-made blockbuster on the 16th February. These short videos staring various household food and objects have proven a hit with fans, with many following him on Kuaishou across national and language boundaries. 'Will Smith even once liked and shared my videos!' Li exclaims. As he prepares to share behind-the-scene tutorials of his viral videos, he hopes to be a pioneer in this field and encourage more people to look for beauty in their everyday environments. The pandemic might have put many things on a halt, but it has also allowed people to channel their unstoppable creativity and heartfelt emotions, which turn kitchens into movie studios, and encourages people to see the beauty of a different medium of expression.  View original content to download multimedia:http://www.prnewswire.com/news-releases/kuaishou-user-attracts-220-000-followers-using-just-lettuce-cucumbers-and-potatoes-301037270.html
  • Business forced closed during COVID-19, this Vietnamese entrepreneur turned around to release the national hit song to fight back the pandemic
    HANOI, Vietnam, April 8, 2020 /PRNewswire/ -- Last week, amid Vietnam's nation-wide full lockdown, serial entrepreneur / artist Minh Beta released the song "Viet Nam oi! Danh Bay COVID" (Let's Fight COVID!). This catchy song was officially endorsed by Vietnam's Ministry of Health to uplift the nation's spirit during the fight against the pandemic.   jwplayer.key="3Fznr2BGJZtpwZmA+81lm048ks6+0NjLXyDdsO2YkfE="   jwplayer('myplayer1').setup({file: 'http://cdn5.prnasia.com/202004/Yellowblocks/Video1.mp4', image: 'http://www.prnasia.com/video_capture/2971384_AE71384_1.jpg', autostart:'false', aspectratio: '16:9', stretching : 'fill', width: '512', height: '288'}); Interestingly, inspiration for the optimistic song came from his most difficult time. Graduated from Harvard Business School in 2014, Minh Beta returned to Vietnam to build Beta Cineplex with a mere capital of $250,000 and within 5 years turn it into a $USD 40 million business, as valued by its investors from the US, Hong Kong and Japan. In February 2020, as Vietnam battled with COVID-19, his cinema chain and most businesses in the service sector were forced to close. Instead of being dismayed, Minh Beta picked the fight against the pandemic in the most positive way: to cheer the nation with his upbeat song. The move echoes the resilient spirit of Vietnam: to keep on fighting and never give up.  Co-produced by Minh Beta and YellowBlocks, the music video quickly went viral. With positive yet touching lyrics, the video features Minh Beta and guest stars in an interesting superheroes twist. "Our belief in the impact of this project has enabled us to move mountains to execute the campaign within 2 weeks. We chose the superheroes concept to appreciate the unsung heroes who are tirelessly working in the front lines of the pandemic (namely doctors, researchers, soldiers, reporters...), and also call out the heroic virtue in each individual to support the fight " - said Minh Beta. He believes the nation will soon declare victory against COVID-19, and his business will rise above the challenge.  "From Vietnam, to the world, Let's unite to fight Corona" - this is the spirit of the song and the reason why we can rally support from our partners. Vietnam put all effort to leave no one behind in this fight and we are on the quest to spread the positive message of unity and resilience to the global audience. The English version of the song will soon be released on global platforms such as Spotify, Apple Music,... " Kimiko Doan from YellowBlocks further shared the campaign's  ambition to go global. Link to the Youtube videohttps://www.youtube.com/watch?v=tSiK7U46PfA Just 1 day after its release on March 31st, the music video reached millions of views across different platforms and became number 1 on Zingchart of ZingMP3 (the most popular local music site). The song inspired thousands of fanmade contents, totalling more than 20 million views. It is also heavily rotated on TV and radio channels, and was used as the default ringtone by major mobile networks. Mr. Dinh Anh Nguyen, Head of Emulation and Commendation Department of the Ministry of Health, commented "This is the best motivational song at this right time to call for citizens to be together with the health sector to win the war against the pandemic." http://www.minhbeta.com Video - http://cdn5.prnasia.com/202004/Yellowblocks/Video1.mp4
  • Neat, a FinTech Alternative to Banks, Raises USD11M to Fuel International Expansion
    HONG KONG, April 8, 2020 /PRNewswire/ -- Neat, a Hong Kong-based FinTech company offering modern financial solutions to SMEs and startups, today announced raising a USD11 million Series A funding round. Pacific Century Group (PCG) led the round with participation from Visa, and MassMutual Ventures Southeast Asia, among others.  On the right is David Rosa, CEO and Co-Founder of Neat. On the left is Igor Wos, CTO and Co-Founder of Neat. With the investment, Neat plans to continue its international expansion to support businesses that trade across borders.   Neat's vision is to enable the entrepreneur economy, starting with multi-currency business accounts that can be opened online with a 15-minutes application, corporate expense cards, and the ability to send and receive money globally. Additionally, Neat and Visa have entered into a strategic partnership, and in the next few months Neat will begin issuing Visa credit cards aimed at cross-border SMEs. "Our goal is to offer a truly global solution for businesses that trade across borders, regardless of their size or how long they've been in the market. Corporate credit cards, for example, can be incredibly difficult for young businesses to get," said David Rosa, CEO and Co-Founder of Neat. "We're excited to partner with Visa, one of the leaders in digital payments, to offer a product that hasn't always been accessible to young SMEs." In the long run, Neat aims to make international trade nearly frictionless by not only offering a way for customers to move money, but also making use of a wide ecosystem of tools that automates their business processes (payroll, accounting, logistics, etc.), to ultimately enable anyone to run an international business with ease. With a global count of 500M+ startups and other SMEs, funds from this round will be used to further Neat's international expansion. Notably:   After opening an office in Shenzhen in 2019 targeting Chinese exporters, Neat has just opened a new office in London and is set to kick off local operations in Western Europe to also serve the other side of the market: European entrepreneurs trading with China. Neat will further invest into its customer support with the aim of delighting its customers around the clock. Neat will continue to develop its customer acquisition channels across South East Asia. On top of their current licenses, Neat will be pursuing relevant regulatory licences around the world to fuel their business growth. To better reflect the cross-border trading nature of its customer base, Neat has also migrated its website domain, from http://www.neat.hk to http://www.neatcommerce.com. "We're proud to support Neat in the company's vision to support entrepreneurs. There is a clear demand for better financial products for SMEs, especially when it comes to cross-border payments and trade, and we're confident that Neat's passionate and innovative team will deliver," said Ryan Collins, Managing Director of MassMutual Ventures. "We believe in making frictionless cross-border trade a reality for ambitious businesses  around the world. This capital injection is going to power our growth in enabling young SMEs to operate smoothly between Europe and Asia," said David Rosa. "The success of this round has been a clear endorsement that we're headed in the right direction." About Neat Neat's mission is to enable the entrepreneur economy – starting with fully digital multi-currency accounts built for today's international entrepreneur. The Neat Business Account gives you the ability to send and receive money globally at more competitive exchange rates than you would get from a bank; access Neat corporate expense cards for online and offline spending, as well as ATM withdrawals; it also includes intuitive expense tracking and security features. Learn more at http://www.neatcommerce.com. Photo - https://photos.prnasia.com/prnh/20200406/2768537-1?lang=0Related Links :http://www.neatcommerce.com
  • Business forced closed during COVID-19, this Vietnamese entrepreneur turned around to release the national hit song to fight back the pandemic
    HANOI, Vietnam, April 8, 2020 /PRNewswire/ -- Last week, amid Vietnam's nation-wide full lockdown, serial entrepreneur / artist Minh Beta released the song "Viet Nam oi! Danh Bay COVID" (Let's Fight COVID!). This catchy song was officially endorsed by Vietnam's Ministry of Health to uplift the nation's spirit during the fight against the pandemic.     Interestingly, inspiration for the optimistic song came from his most difficult time. Graduated from Harvard Business School in 2014, Minh Beta returned to Vietnam to build Beta Cineplex with a mere capital of $250,000 and within 5 years turn it into a $USD 40 million business, as valued by its investors from the US, Hong Kong and Japan. In February 2020, as Vietnam battled with COVID-19, his cinema chain and most businesses in the service sector were forced to close. Instead of being dismayed, Minh Beta picked the fight against the pandemic in the most positive way: to cheer the nation with his upbeat song. The move echoes the resilient spirit of Vietnam: to keep on fighting and never give up.  Co-produced by Minh Beta and YellowBlocks, the music video quickly went viral. With positive yet touching lyrics, the video features Minh Beta and guest stars in an interesting superheroes twist. "Our belief in the impact of this project has enabled us to move mountains to execute the campaign within 2 weeks. We chose the superheroes concept to appreciate the unsung heroes who are tirelessly working in the front lines of the pandemic (namely doctors, researchers, soldiers, reporters...), and also call out the heroic virtue in each individual to support the fight " - said Minh Beta. He believes the nation will soon declare victory against COVID-19, and his business will rise above the challenge.  "From Vietnam, to the world, Let's unite to fight Corona" - this is the spirit of the song and the reason why we can rally support from our partners. Vietnam put all effort to leave no one behind in this fight and we are on the quest to spread the positive message of unity and resilience to the global audience. The English version of the song will soon be released on global platforms such as Spotify, Apple Music,... " Kimiko Doan from YellowBlocks further shared the campaign's  ambition to go global. Link to the Youtube video https://www.youtube.com/watch?v=tSiK7U46PfA Just 1 day after its release on March 31st, the music video reached millions of views across different platforms and became number 1 on Zingchart of ZingMP3 (the most popular local music site). The song inspired thousands of fanmade contents, totalling more than 20 million views. It is also heavily rotated on TV and radio channels, and was used as the default ringtone by major mobile networks. Mr. Dinh Anh Nguyen, Head of Emulation and Commendation Department of the Ministry of Health, commented "This is the best motivational song at this right time to call for citizens to be together with the health sector to win the war against the pandemic." http://www.minhbeta.com View original content to download multimedia:http://www.prnewswire.com/news-releases/business-forced-closed-during-covid-19-this-vietnamese-entrepreneur-turned-around-to-release-the-national-hit-song-to-fight-back-the-pandemic-301037231.html
  • Learn and Socialize at Tradersfair.com, News Social Network for Traders
    Tradersfair.com is becoming a new place to get news and tools without leaving the house, for traders. SINGAPORE, April 8, 2020 /PRNewswire/ -- FINEXPO's Tradersfair.com becomes a new, unique platform with news, reviews, analytics and social tools for the world of trading, joining the famous series of Traders Fair events. Finding an advisor or becoming one, getting the latest updates on events and jobs in the industry, managing the unique feed, making connections or even creating a company blog is now easier than ever for those joining the social network. Tradersfair.com welcomes not only traders and investors but companies' specialists and those who wish to get into trading. This platform provides every reader with updates from both the editorial team and independent users of the website, including professional traders and well-known gurus. Communication, comradery and learning are key elements of this social network, which lets people with different levels of knowledge access the feed to share or gain experience. Services like job searches, professional events' updates and advertising tools are available through the platform. This social network is aimed to make the process of finding new colleagues, partners, investors and people with similar professional interests easier and more enjoyable. Three-thousand unique daily visitors and 150,000 monthly views are now converting into an amazing place to connect and reach your goals, provided to you by FINEXPO, the producer of financial and trading projects and events since 2002. Over 30,000 traders, investors and financial advisors, and more than 3,000 financial companies and brokers from Forex, stock, option, crypto and forward markets from all around the world, have been connected by FINEXPO, whilst the list of its projects seems quite long. Here you can find platforms like VF.SG and significant events such as Financial Expo, Traders Fair, CryptoExpo.Asia Traders Awards, Forex & Money Expo, Forex Expo Awards, Money Fair, Investor Expo, Golf Expo, Banking Expo, Online Trading Expo, Millionaire Bazaar. Related Images traders-fair.jpg Traders Fair All about Asian and global financial news and trends; find case studies on trading, forex, cryptocurrency, stocks, futures, ETF/funds, payment systems for traders Related Links Traders Fair Finexpo  Related Links :https://tradersfair.com
  • Black Desert Mobile Introduces New Battle Modes and Terrmian Town
    SEOUL, South Korea, April 8, 2020 /PRNewswire/ -- Pearl Abyss today announced that the new battle modes Special Boss Rush and Ranked Arena have been introduced along with a new town known as Terrmian in Black Desert Mobile. Adventurers can now enhance their strength through these battle modes and explore a new town full of celebratory events. Black Desert Mobile Introduces New Battle Modes and Terrmian Town Special Boss Rush is now available for Adventurers looking for challenging battles. Special Boss Rushes offer Adventurers a chance to repeatedly fight against previously slain bosses that are more powerful than those found in normal Boss Rushes. They will also give Adventurers greater rewards and knowledge of bosses than normal Boss Rushes. During Special Boss Rushes, Adventurers will face bosses with different attack patterns and phases from those of the original mode. A ranking system has been introduced to the PvP Arena mode. An Adventurer's rank will be set once an Adventurer completes 10 matches, and once an Adventurer is ranked, they will be matched up against similarly ranked opponents in the future. The ranking system will run on a seasonal basis and offer various rewards to successful combatants at the end of each season.     Last but not least, Terrmian, a new town, is now open for a limited period of two weeks. Terrmian will host a series of quests and minigames that give Adventurers exclusive rewards including the Terrmian Outfit. Those who defeat pirates using normal combat or Water Cannons can also claim a Cox Pirates' Chest. Visit Black Desert Mobile's official website for more information. About Pearl Abyss Best known for the MMORPG franchise Black Desert, Pearl Abyss is a leading developer in the game industry. Established in 2010, Pearl Abyss has since developed Black Desert for PC, mobile, and console, and is developing Shadow Arena for PC and console. All of Pearl Abyss' games are built on the company's own proprietary engine and are renowned for their cutting-edge graphics. The company is also developing Crimson Desert, DokeV, and PLAN 8 and is poised to continue its growth through 2020 and maintain its position as one of Asia's leaders in game development. More information about Pearl Abyss is available at: http://www.pearlabyss.com Photo - https://photos.prnasia.com/prnh/20200407/2771041-1?lang=0  Related Links :http://www.pearlabyss.com
  • Program Keusahawanan Taylor's-CIMB Islamic takes its community programmes online
    Online programmes to equip children, women, and micro businesses with digital skills to weather challenging times KUALA LUMPUR, Malaysia, April 8, 2020 /PRNewswire/ -- Taylor's Education Group and CIMB Islamic Bank Berhad ("CIMB Islamic" or "the Bank") have unveiled a joint effort to take their yearly entrepreneurial programme, "Program Keusahawanan Taylor's-CIMB Islamic" ("the Programme"), into the digital sphere. This is to ensure that the initiative, aimed at developing entrepreneurs from the B40 (Below 40% income level) group, can still be accessed online and continued during the challenging times of COVID-19. Since the inception of this programme in 2017, participants have been attending face-to-face classes at Taylor's University Lakeside Campus on selected weekends. In one of last year's classes by PK Taylor's-CIMB Islamic, participants were taught to make presentation slides using computers. To adapt to today's climate, they have moved to learning online. The Taylor's-CIMB Islamic entrepreneurial programme aims to empower families in the B40 group to uplift their earnings through up-skilling and entrepreneurship. Participants are required to complete five online modules; (1) Objectives of Business; (2) Challenges and Risk Management; (3) Target Market and Marketing; (4) Financial Record and Management, and (5) Emotional Wellbeing. Meanwhile, the children and women programme focuses on awareness of COVID-19, emotional well-being, family and civic activities. Grocery and stationery support are also provided to encourage participation and as motivation for the community to continue to gain knowledge.    Digital applications for the Programme will be open in April 2020. Now in its fourth year, the Programme has assisted over five hundred micro business owners to grow their business through upskilling and disbursements of grants. May Wong, Taylor's Group Communications and Corporate Social Responsibility Manager said, "We decided to move the programme online due to responses we received from a survey we conducted earlier. A total of 49% of respondents said that they were not able to run their businesses since the MCO was enforced and about 54% of the respondents had experienced a drop in business, with 38% having completely no revenue." "The good news is that 84% of the respondents said that they were receptive toward undertaking their programmes online," she added. In view of this, the organising committee decided that it was time to take the programme online so that micro business owners and their families can continue to receive support. May Wong added that although timelines are steep as the programme commences in April, the team is confident of making it a success by leveraging on Taylor's existing e-learning platform and experience in delivering online education. Ahmad Shahriman Mohd Shariff, CEO of CIMB Islamic said, "Given the situation, CIMB Islamic believes in proactive actions such as making the programme available online in order to minimise disruption to the participants. It is important for the programme to continue as it is aimed at the B40 group which is most vulnerable during this period and falls under one of our Sustainable Development Goals (SDGs) that we champion. We are pleased to continue supporting the programme with Taylor's Education Group. It is very much consistent with CIMB Group's commitment of advancing customers and society as well Bank Negara Malaysia's (BNM) Value Based Intermediation (VBI) framework." "This joint programme further complements other initiatives we are carrying out to assist our customers during this challenging period. This includes an automatic 6-month moratorium on financing products starting 1 April 2020. As a responsible corporate citizen we wish to ensure that no members of society are left behind," Shahriman added. Participants, comprising of children, women and micro entrepreneurs, have already started completing their assignments through modules provided in PDF form, supported by audio, video and video conferences, delivered through the e-learning sites. In addition to assignments and workshops, the entrepreneurship programme's annual sales bazaar and graduation ceremony will also be conducted online. "Given the situation, we have also added a digital marketing module, to equip participants with the skills to take their business online, which includes tutorials on how to set up online stores and using social media to promote products" "The survey also found that 83% of respondents were ready to give back to the community, despite their own struggles. We are therefore introducing five additional classes on social entrepreneurship, focusing on mentorship and guidance, that will empower graduates of the programme to help others while ensuring sustainability of their businesses," May added. "Many businesses are struggling to operate due to the MCO and small businesses are especially susceptible," said Taylor's Education Group CEO Dato' Loy Teik Ngan. "Thus, we hope that our initiative of taking this programme online will benefit these entrepreneurs and equip them with the skills and knowledge to weather the storm and grow." To-date, "Program Keusahawanan Taylor's-CIMB Islamic" has disbursed grants totaling RM700,000. About Taylor's Education Group Taylor's Education Group (TEG) is a pioneer in private education in Malaysia. It is one the largest and most successful private education groups in Malaysia with over 22,000 students across university, college and schools. With an unsurpassed track record built up over the last six decades, Taylor's has earned the reputation as the leading private educational provider in Malaysia offering a pipeline of education excellence from pre-school to postgraduate. About CIMB Islamic Bank CIMB Islamic Bank, licensed under the Malaysia's Islamic Financial Services Act 2013, is the main operating entity of the CIMB Group's global Islamic banking and finance franchise. It operates in parallel with the Group's universal banking platform and offers Shariah-compliant products and services to the Group's consumer banking, investment banking, asset management and investment businesses. CIMB Islamic Bank's services, products and operations comply strictly with global Shariah principles and standards under the guidance of the CIMB Islamic Board Shariah Committee which comprises of world renowned Shariah experts and scholars. CIMB Islamic provides comprehensive and innovative Shariah-compliant financial products and services to meet the needs of individuals, small and medium scale enterprises as well as large institutional customers. CIMB Group's Islamic banking and finance business is supported by the Group's network of around 35,000 employees in 15 countries comprising an experienced senior management team and a global team of Islamic banking and financial services professionals in all core components of the Islamic banking and financial services market. CIMB Group also has the most extensive retail branch network in ASEAN, with 702 branches as at 31 December 2019. Photo - https://photos.prnasia.com/prnh/20200407/2771164-1?lang=0
  • PJ Asset Management Urges Shareholders of TECO Electric and Machinery Co., Ltd. (1504 TT) to Support Proposal at the AGM on May 11, 2020
    TAIPEI, April 8, 2020 /PRNewswire/ -- PJ Asset Management Company ("PJAM") today issued a letter urging all shareholders of TECO Electric and Machinery Co., Ltd. ("TECO" or "Company", 1504.TT) to support PJAM's proposal of a 10% capital reduction that would return cash to shareholders. This proposed resolution, included among the "Matters for Discussion" at TECO's upcoming AGM, follows a series of attempts to engage the Company and is aimed at right-sizing its overcapitalized balance sheet. PJAM and its subsidiary, Jaryuan Investment Co. Ltd., together make up TECO's single largest shareholder, holding more than 20% of its common stock. The original letter in Chinese can be found at: http://www.pjam.com.tw/index.php?route=newsblog/article&article_id=43&lang=zh-TW The corresponding English version is provided below: To all TECO's shareholders, PJAM has engaged TECO over several months by delivering two letters and proposing a Value Enhancement Plan (VEP) to the Company and its shareholders detailing our concerns over its capital management and operational efficiency. Our proactive engagement with TECO's management team and board of directors has been the preferred approach to help the Company achieve better outcomes. These efforts, however, have been met with resistance, including a perplexing fund-raising plan that counteracts PJAM's proposed 10% capital reduction and would further lower the Company's depressed ROE. Therefore, we strongly urge all shareholders to vote as follows in these key matters: Vote Proposed by Discussion Matter NO TECO Board of directors resolved to issue common shares private placement (MOPS, or Market Observations Post System, published by TECO on April 6, 2020) NO TECO Board of directors resolved to issue preferred shares private placement (MOPS, or Market Observations Post System, published by TECO on April 6, 2020) YES PJAM Proposal on capital reduction by returning cash to shareholders (MOPS published by TECO on April 1, 2020) In our VEP, we clearly indicated how years of TECO's conservative business strategy have led to its sufficient yet inefficient cash balance and disappointing ROE. TECO has ignored this recommendation and announced at its March 20, 2020 Investor Relations Meeting its expected 2020 capital expenditure of TWD1.4 billion, a modest level showing no intent for robust expansion. The Company has taken two other recent actions, as follows, further muddling its cash management goals: 1. On March 19, 2020, the board of directors of TECO Capital Investment, a TECO wholly-owned subsidiary, resolved to subscribe to TWD0.5 billion in a mutual fund issued by Yuanta Investment Trust. The fund subscription, announced just one day prior to the following bond issuance, was a counterintuitive action that added ambiguity to the overall picture. With a six-month lock-up period, the subscription goes against TECO's stated objective of delivering results to its investors. 2. On March 20, 2020, TECO's board resolved the first issuance of TWD5 billion in Domestic Unsecured Corporate Bonds in 2020. We appreciate TECO's effort made to replace its short-term loan with a debenture term of five to seven years longer at the current low interest rate environment. If its board and management decide to change course in favor of aggressive expansion or reserve buffer for any possible coronavirus impact, this move would offer TECO plenty of liquidity on top of its abundant cash balance. Then, on April 1, 2020, TECO proposed to issue 190,000,000 shares of combined common stock and/or preferred stock by private placement. It should be noted that the abrupt proposal, with little advance notice, is likely to breach shareholders' rights and raise concerns as follows: If the proposal is approved by shareholders, TECO's board of directors is authorized to designate the actual pricing date and price of the privately placed common stock and/or preferred stock at no lower than 80% of the formulated market price based on market conditions and the "situation of strategic investors", according to TECO's MOPS document as published. Yet the situation of strategic investors would be subject to the Company's discretion. The resolution, if approved, would mean a blanket approval granting the incumbent major shareholder the privilege to perpetuate a systemic favoritism and unfairly dilute all other shareholders' rights. As for the approximately TWD4 billion funds from the capital increase, TECO provides no explicit explanation regarding the utilization, expected benefit and other related matters. On the whole, TECO's recent actions taken in succession show flaws in rationale, decision-making and execution. The Company has not only avoided any meaningful explanation for its actions, but also missed the opportunity to appropriately address the proposals laid out in PJAM's VEP, which focused on TECO's need to raise its profit ratio and operating margins. The Company's actions addressed neither concern while further lowering capital efficiency in ROE terms. TECO has made inefficient use of free cash flow over the years and has continuously accumulated a higher level of cash flow on its balance sheet without deploying that for any meaningful investment activity, as the Company's annual reports show. Its gross cash of around TWD17 billion (approximately USD563 million) after 10% cash capital return would more than sufficiently meet liquidity and potential M&A needs. Despite TECO's claim to reserve buffer capital to cover any potential coronavirus impact, the one-time capital reduction, though moderate, is a first step in right-sizing the Company's balance sheet and further improving its underperforming ROE. PJAM believes that the landmark resolution to be put forth for consideration at the AGM on May 11, 2020 will be crucial for your best judgement and be vital to protecting all shareholders' benefit. PJAM's presentation on TECO's Value Enhancement Plan can be found here: http://www.pjam.com.tw/index.php?route=newsblog/article&article_id=42&lang=en-gb Best Regards, PJ Asset Management Co., Ltd. View original content:http://www.prnewswire.com/news-releases/pj-asset-management-urges-shareholders-of-teco-electric-and-machinery-co-ltd-1504-tt-to-support-proposal-at-the-agm-on-may-11-2020-301037190.htmlRelated Links :http://www.pjam.com.tw
  • Rapid Medical Announces Ahead of Schedule Completion of Patient Enrollment for the TIGER Clinical Study for TIGERTRIEVER Thrombectomy Device
    YOKNEAM, Israel, April 8, 2020 /PRNewswire/ -- Rapid Medical, a company focused on the development of next generation neurovascular interventional devices, has announced that it has completed enrollment in the TIGER (Treatment with Intent to Generate Reperfusion) study ahead of the planned scheduled. This is a US based, multi-center study of the performance of TIGERTRIEVER, the company's novel thrombectomy device for the acute treatment of ischemic stroke. The TIGERTRIEVER is a fully-visible, controllable stentriever that is adjusted to fit the dimensions of a blocked blood vessel causing acute ischemic stroke. Vascular neurologist, Jeffrey Saver M.D., Stroke Neurology Director at Ronald-Reagan-UCLA Medical Center in Los Angeles, California, and neurointerventionalist Rishi Gupta M.D., Director, Neurocritical Care at WellStar Health System, Georgia, are the principal investigators of the study. "It was our honor and pleasure to co-lead this trial and we would like to thank the patients, their families, and the clinical sites who participated in the study. Their dedication enabled rapid patient recruitment and trial completion ahead of schedule, despite the extra challenges of the current medical moment," said Prof. Saver. "The TIGERTRIEVER is a new generation stentriever which provides the physician with enhanced user control. Its unique design will hopefully show that it addresses the limitations of current devices to provide optimal patient outcomes. We are looking forward to publishing the data," stated Dr. Gupta. TIGER is a multi-site, IDE study evaluating the safety and effectiveness of Rapid's TIGERTRIEVER for treatment of ischemic brain stroke. The study results will be used as part of the 510K submission of the device for FDA clearance. The study was completed ahead of schedule and took place at 16 of the leading stroke centers throughout the U.S and one center in Israel. The TIGERTRIEVER device has CE mark clearance and is commercially available in Europe; thousands of ischemic stroke thrombectomy procedures are performed with the device every year.   About Rapid Medical Rapid Medical is developing game-changing devices for endovascular treatments. Rapid Medical is the maker of TIGERTRIEVER and COMANECI, the first-ever adjustable remodeling mesh. TIGERTRIEVER and COMANECI are CE marked for use in Europe and COMANECI is also FDA approved. The TIGERTRIEVER is an investigational device and is not available for sale in the United States. More information is available at http://www.rapid-medical.com  Contact: Eitan Havis, VP of Sales and Marketing, Rapid Medical eitan@rapid-medical.com+972-72-250-3331  Related Links :https://www.rapid-medical.com/
  • Special Report on The COVID-19 Epidemic Forecasts (Issue 2)
    HONG KONG and SHANGHAI, April 8, 2020 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An", the "Company" or the "Group", HKEX: 02318; SSE: 601318) today published a second report on The COVID-19 Epidemic Forecasts by Ping An Smart City Research Institute, Ping An Macroeconomic Research Institute and Ping An Healthtech Research Institute. Overview (View full report) 1.    The epidemic shows a three-wave global spreading trend. The cumulative number of confirmed cases globally has exceeded 1 million. It is estimated that the cumulative number of confirmed cases will exceed 2 million around Apr. 15. As of 12 p.m. China Standard Time on Apr. 4, there have been more than 1 million confirmed cases globally. It is expected that this current wave of infection, mainly in Europe and the U.S., will reach a peak of new confirmed cases by Apr. 15. The cumulative number of confirmed cases will exceed 2 million around Apr. 15. The first wave of infections occurred in China, the second wave is dominated by developed countries in Europe and North America, and the third wave is expected to occur in densely populated developing countries in Asia, Africa and South America. 2.    Second wave: The number of newly confirmed cases in major European countries began to decline at the end of March, in line with our Mar. 20 prediction. We predicted that major European countries and Iran would reach the peak of daily new confirmed cases around the end of March. Newly confirmed cases in Italy peaked on Mar. 22, Spain on Mar. 27, Germany on Mar. 28, Iran on Mar. 31, and France on Apr. 1. The peaks of new confirmed cases in Italy, Spain, and Germany were in line with our predictions on Mar. 20 and the peaks in Iran and France were two days later than predicted. 3.    Second wave: The arrival of the peak of new confirmed cases in the U.S. will be in mid-April, later than originally predicted. The main reason is the U.S. has had fewer tests than some European countries during the same period, but is showing a higher test-positive rate. The U.S. added 34,168 new cases for a record high on Apr. 5, and the peak of new confirmed cases is still to come. The main reasons are: 1) Although the cumulative number of tests per million of population in the U.S. has increased from 47 to 4,933 since the implementation of containment measures, the test volume is still about 50% lower than that of European countries and South Korea during the same period, i.e. Italy at 10,870 per million, Germany at 10,962 and South Korea at 8,875; and 2) The eight U.S. states with the most severe epidemics have a test-positive rate of more than 20%. New York and New Jersey were 40.7% and 45.6% respectively, higher than Italy's 18.6% and Germany's 10.8%. Also, the cumulative number of confirmed cases in these eight states exceeds 200,000. Based on our analysis, we now expect the peak of new confirmed cases in the U.S. to occur between Apr. 9 and Apr. 15. The peak of new confirmed cases may reach 39,000 to 60,000, and the final cumulative confirmed cases in mid-May may reach 870,000 to 1.65 million. 4.    Second wave: The new confirmed cases in the U.K., Turkey, and Canada are expected to start to decline around mid-April. The number of new confirmed cases in these three countries have been growing rapidly recently. According to the current trend, the three countries will reach the peak of new confirmed cases around Apr. 15. Among them, Turkey and Canada belong to the Medium rate infection scenario (estimated infection rate is 0.05% to 0.2% of the total population), and the U.K. belongs to the Higher infection rate scenario (estimated infection rate is 0.2% of the total population). It is estimated that the peak of new confirmed cases will arrive between Apr. 8 to Apr.12 for Canada, Apr. 9 to Apr. 13 for the U.K. and Apr. 13 to Apr. 17 for Turkey. The cumulative confirmed cases in mid-May is expected to be: 130,000 to 180,000 in the U.K., 110,000 to 150,000 in Turkey, and 35,000 to 50,000 in Canada. 5.    Third wave: The epicenters of outbreak are predicted to be developing countries in Asia, South America and Africa, especially India, Indonesia and Brazil. India, Indonesia, and Brazil have populations of 1.38 billion, 270 million, and 210 million, respectively, making them the most populous countries other than China and the U.S.. At present, the testing volume per million population in the three countries is only 50 in India, 23 in Indonesia and 215 in Brazil, far lower than the volumes in Europe and the U.S.. India's test-positive rate is less than 10% of the average of other countries. Assuming that the test-positive rate in India reaches the level of Europe and the U.S., the current number of infections in India may actually be 220,000. In Africa, the number of confirmed cases is currently only 9,064. However, considering that Africa accounts for one-sixth of the world's population and has relatively low levels of medical resources, it is also a likely epicenter of outbreak for the third wave. 6.    The ratio of confirmed cases in a seven-day period to the number of Intensive Care Unit (ICU) beds in a country significantly affects the fatality rate. Since about 20% of patients diagnosed with COVID-19 will develop into severe cases. The level of confirmed cases compared to the number of ICU beds is an important ratio. A low ratio of 1 or below indicates there may be sufficient ICU beds for the number of severe cases implied by the level of confirmed cases in the population. A higher ratio indicates there may not be enough ICU beds for the number of expected severe cases. 1)    A low ratio of confirmed cases to the number of ICU beds would likely result in fatality rates of 0.9% to 2%. For example, the ratio of the peak confirmed cases in a seven-day period to the number of Intensive Care Unit (ICU) beds in China (excluding Hubei) is 0.08 and South Korea is 0.43. 2)    A moderately high ratio would likely result in fatality rates of 2% to 4%. In Germany, the ratio of the peak confirmed cases in a seven-day period to the number of ICU beds is 1.7. 3)    A high ratio would likely result in fatality rates of 4% to 10%. In Iran, the ratio of the peak confirmed cases in a seven-day period to the number of ICU beds is 4.4, and the U.S. is above 2.7. 4)    A very high ratio would likely result in fatality rates of more than 10%. The ratio of the peak confirmed cases in a seven-day period to the number of ICU beds in Italy is 5.9, Spain is 12.8, and France is 6.6. About Ping An Group Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With over 200 million retail customers and 516 million Internet users, Ping An is one of the largest financial services companies in the world. Ping An has two over-arching strategies, "pan financial assets" and "pan health care", which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems of financial services, health care, auto services, real estate services and smart city services. Our "finance + technology" and "finance + ecosystems" strategies aim to provide customers and internet users with innovative and simple products and services using technology. As China's first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The Company is listed on the stock exchanges in Hong Kong and Shanghai. In 2019, Ping An ranked 7th in the Forbes Global 2000 list and 29th on the Fortune Global 500 list. Ping An also ranked 40th in the 2019 WPP Millward Brown BrandZ™ Top 100 Most Valuable Global Brands list. For more information, please visit http://www.pingan.cn. Disclaimer This research report is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate, but various regulations may prevent us from doing so. Other than certain reports published on a periodic basis, the large majority of reports are published at irregular intervals as appropriate in the analyst's judgment. Photo- https://photos.prnasia.com/prnh/20200408/2771490-1-a?lang=0Photo- https://photos.prnasia.com/prnh/20200408/2771490-1-b?lang=0
  • iQIYI Responds to Short Seller Report
    BEIJING, April 8, 2020 /PRNewswire/ -- iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, today issued the following statement in response to allegations made in a report by Wolfpack Research. The Company has been made aware of and reviewed the short seller report published by Wolfpack Research on April 7, 2020. The Company believes that the report contains numerous errors, unsubstantiated statements and misleading conclusions and interpretations regarding information relating to the Company. The Company emphasizes that it has always been and will remain committed to maintaining high standards of corporate governance and internal control, as well as transparent and timely disclosure in compliance with the applicable rules and regulations of the Securities and Exchange Commission and the Nasdaq Global Select Market. About iQIYI, Inc. iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI's platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, professional user generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, online games, live broadcasting, IP licensing, talent agency, online literature and e-commerce etc. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. iQIYI may also make written or oral forward-looking statements in its periodic reports 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. Statements that are not historical facts, including but not limited to statements about iQIYI's beliefs and expectations, are 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. Further information regarding such risks is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and iQIYI undertakes no duty to update such information, except as required under applicable law. For more information, please contact: Investor RelationsiQIYI, Inc.+86 10 8264 6585ir@qiyi.com View original content:http://www.prnewswire.com/news-releases/iqiyi-responds-to-short-seller-report-301037056.htmlRelated Links :http://ir.iqiyi.com/
  • TAL Education Group Discovered Employee Wrongdoing
    BEIJING, April 8, 2020 /PRNewswire/ -- TAL Education Group (NYSE: TAL) ("TAL" or the "Company"), a leading K-12 after-school tutoring services provider in China, today announced certain employee wrongdoing discovered in the Company's routine internal auditing process.  TAL discovered irregularities and violations of the Company's business conduct and internal control policies by an employee in the Company's newly introduced "Light Class" business. Upon such discovery, TAL immediately reported to the local police. The employee has been taken into custody by the local police.   Based upon the Company's routine internal audit, the Company suspects that the employee of question conspired with external vendors to wrongly inflate "Light Class" sales by forging contracts and other documentations.  For the fiscal year 2020 ended February 29, 2020, "Light Class" sales accounted for approximately 3% to 4% of the Company's total estimated revenues.   TAL highly values the integrity of business practices and the ethics of employee conducts, having zero tolerance of any illegal act.  The Company has always been and will remain committed to maintaining high standards of corporate governance, as well as transparent and timely disclosure in compliance with the applicable rules and regulations of the Securities and Exchange Commission and the New York Stock Exchange. About TAL Education Group TAL Education Group is a leading K-12 after-school tutoring services provider in China. The acronym "TAL" stands for "Tomorrow Advancing Life", which reflects our vision to promote top learning opportunities for Chinese students through both high-quality teaching and content, as well as leading edge application of technology in the education experience. TAL Education Group offers comprehensive tutoring services to students from pre-school to the twelfth grade through three flexible class formats: small classes, personalized premium services, and online courses. Our tutoring services cover the core academic subjects in China's school curriculum as well as competence oriented programs. The Company's learning center network currently covers 69 key cities in China. We also operate http://www.jzb.com, a leading online education platform in China. Our ADSs trade on the New York Stock Exchange under the symbol "TAL". Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about TAL's beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and TAL does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For further information, please contact: Echo YanInvestor RelationsTAL Education GroupTel: +86 10 5292 6658Email: ir@100tal.com Caroline StraathofIR InsideTel: +31 6 5462 4301Email: info@irinside.com  View original content:http://www.prnewswire.com/news-releases/tal-education-group-discovered-employee-wrongdoing-301036933.htmlRelated Links :http://www.100tal.com/
  • LENS Immersive, Stealth Australian Company Debuts New Encoder to Reduce Data Crunch for Online Video Streaming Sites
    Streaming Fix: As the coronavirus pandemic forces people around the world to stay inside, streaming platforms have been forced to throttle video quality around the globe while coping with unprecedented network demand. SYDNEY, April 7, 2020 /PRNewswire/ -- Today, LENS Immersive launched access to their proprietary encoding tool TORII (T264.lens-immersive.com). The incredible amount of new network traffic, due to work-from-home and entertain-at home, has put major new strains on national and international internet infrastructure. Citing this incredible global demand, Australian based company LENS Immersive (www.lens-immersive) has pushed forward the release of this new video compression tool. "We've built TORII to solve this exact problem - reducing bandwidth consumption while increasing picture quality," said Travis Rice, CCO LENS Immersive. "After we saw what was happening with Netflix, Stan and YouTube getting requests to throttle their performance, we decided it was time to push this technology out and make it available to major streaming companies. The powerful TORII technology is now compatible with all existing H264* workflows and chipsets, across the globe." The benefits of TORII affect three main parts of internet video distribution: Consumers will see faster streaming, less buffering and better picture quality without having to change anything. Viewers will also use less bandwidth, saving money each month on internet data usage. Online Streaming companies such as Stan, Netflix and YouTube can use TORII with no changes to workflow or existing applications. TORII can reduce their file sizes by 20-70%, saving on storage and distribution costs while speeding up delivery to viewers. Networks and Telecom providers - with video streaming consuming more than 60% of global internet traffic in 2019 (REF) - and continuing to grow year over year, network providers have the most to gain from TORII. The ability to reduce the network load will translate into a massive speed increase globally. TORII lands in the midst of highly competitive video compression landscape, allowing for higher rate of throughput of all types of video content including 4k and the relatively new 6k and 8k televisions. A significantly faster H265 compatible version of TORII is due for release in the middle of this year, benefitting other industries such as surveillance and data centers around the world. If your company is currently using H264 and is looking for a speed boost or a faster way to deliver video over a constrained network, contact LENS Immersive at info@lens-immersive.com *H264 The H264 video compression standard, is an industry standard that is the most widely used video delivery format for streaming online video. Commonly used across the globe for the recording, compression, and distribution of video content, the H264 format has been a network-friendly video transmission method, growing widely since being released in 2003. Now, in 2020 with the release of TORII, these videos can be further optimized, creating smaller, more easily transported files while maintaining ideal video and sound quality. REF - https://www.ncta.com/whats-new/report-where-does-the-majority-of-internet-traffic-come Contact: Yan ChenPhone: +61 0431 954 987Email: Yan@LENS-Immersive.com   View original content:http://www.prnewswire.com/news-releases/lens-immersive-stealth-australian-company-debuts-new-encoder-to-reduce-data-crunch-for-online-video-streaming-sites-301036376.html
  • Miaozhen Systems Announces its Focus on Omni Measurement & Business Intelligence
    BEIJING, April 7, 2020 /PRNewswire/ -- China's leading omni measurement and business intelligence analytics solutions provider Miaozhen Systems, a part of Mininglamp Technology Group, has unveiled its rebranding. The change includes an expanded range of products and services, with a new positioning of omni measurement and business intelligence analytics, as well as an updated visual language. Miaozhen Systems was established in 2006 by Minghui Wu, serial entrepreneur and Mininglamp Technology Group's founder, chairman, and CEO. Since its founding, Miaozhen Systems has been committed to helping enterprises accurately measure and optimize their marketing effectiveness. It has also been instrumental in increasing transparency in the China digital marketing industry.  Miaozhen Systems' rebranding marks an expanded focus on omni measurement and business intelligence instead of its historical focus on ad and marketing measurement. Miaozhen Systems will be able to use omni measurement to analyze every touch point between business and consumer across multiple platforms and media types, and harness Mininglamp Technology Group's AI capabilities to mine big data for business intelligence. With these technologies, Miaozhen Systems will be able to help enterprises make optimized, customer-centric business decisions and stay ahead of the curve.  After rebranding, Miaozhen Systems will have two major service units: Omni-marketing Intelligence(OMI): Miaozhen Systems' service unit focused on omni-measurement and marketing optimization. Uses big data and AI technology to provide businesses with digital measurement, evaluation, and optimization solutions for advertising, marketing, and business. Helps enterprises make decisions based on real & accurate data and empowers high-speed growth. Business Intelligence & Analytics(BIA): Miaozhen Systems' service unit focusing on business intelligence and analytics. Provides BIA services using big data and AI technology and based on real-time, accurate, comprehensive ad, social, and e-commerce data. Helps enterprises predict trends in the market, optimize business decisions, and achieve commercial value. Miaozhen Systems Miaozhen Systems' new brand positioning is also reflected in its new visual identity. The concentric radiating circles and markings suggest its focus on broader measurement and deeper analytics. They also bring to mind a rotating engine, symbolizing continuous empowerment of its clients to create commercial value. View original content to download multimedia:http://www.prnewswire.com/news-releases/miaozhen-systems-announces-its-focus-on-omni-measurement--business-intelligence-301034776.html
  • From China to the World, Fosun's Fight against COVID-19 Continues
    SHANGHAI, April 7, 2020 /PRNewswire/ -- At 7:00 pm Beijing time on April 6, Fosun hosted a global virtual conference on fighting against COVID-19 on the 39th floor of Fosun's headquarters - the Bund Finance Center in Shanghai. The anti-epidemic experts from Beijing, Shanghai, and Guangzhou and Fosun Healthcare Group communicated with frontline hospital representatives and healthcare experts from countries and regions, such as the US, the UK, Portugal, India and African countries online. On the screen, experts with a myriad of fighting COVID-19 experience from China's Shanghai, Beijing and Guangzhou and the head of Fosun Pharma's medical team in support of Hubei Province joined a group of healthcare experts and physicians from the US, Portugal and the UK, discussing the way forward in the worldwide battle against the COVID-19 pandemic. Based on China's specific the policy guidance and clinical experience in responding to the epidemic situation, professor Zhu Chouwen, who is leader of the Zhongshan Hospital's medical team for aid to Hubei, first shared his experience of managing COVID-19 designated hospitals. Zhu said, "The National Health and Safety Commission issued seven editions of diagnosis and treatment guidance to all China's medical practitioners. Many countries have their own mechanisms and systems. It is very important to plan and diagnose, and execute the treatment plan according to the specific epidemic situation. Only by joining hands, can we win the battle against the epidemic. " Since the outbreak of the coronavirus pandemic, Fosun has actively participated in the fight against the epidemic in China and around the world, and has joined hands to provide assistance to the world. Chen Qiyu, Co-CEO of Fosun International and Chairman of Fosun Pharma, expressed his gratitude to the experts from all over the world. Chen said: "Since January 23, Fosun's Wuhan Jihe Hospital is listed as a COVID-19 designated treatment hospital. We have invested in the fight against the epidemic in all aspects. From the global procurement and donation of anti-epidemic materials to the development of diagnostic reagents and vaccines, we have been fighting for nearly three months. The infection rate of our medical staff is zero. With the joint efforts of everyone, the current epidemic in China has been effectively controlled, but the epidemic is still spreading around the world, and Fosun's global anti-epidemic actions are continuing. We look forward to such experience sharing activities for everyone, so we can provide practical help and support to each other!" Conference highlights Since the COVID-19 pandemic erupted, Fosun has been participating in the domestic and global anti-pandemic efforts, joining hands with other forces to provide assistance worldwide. This conference features China's top health experts from Shanghai, Beijing and Guangdong, including Prof. Zhu Chouwen, Deputy Director of Zhongshan Hospital affiliated to Fudan University and the leader of China's anti-COVID-19 medical team for Hubei Province; Prof. Liu Zhengyin, the Infectious Disease Section of the Department of Internal Medicine, Peking Union Medical College Hospital; Prof. Hu Bijie, Director of Department of Infectious Diseases and Director of Department of Hospital Infection Management at Zhongshan Hospital of Fudan University, a member of China's expert team for COVID-19 treatment, and a member of the Shanghai medical rescue expert group; Prof. Gao Xinglin, Director of Respiratory Medicine Department of the Eastern Ward, Guangdong Provincial People's Hospital and Prof. Jia Xiaomin, Chief Physician of Respiratory Medicine at The Second Affiliated Hospital of Xuzhou Medical University and the leader of Fosun Pharma's anti-COVID-19 medical team supporting Hubei Province; whilst overseas attendees included frontline hospital representatives and healthcare experts from countries and regions, such as the US, the UK, Portugal, India and African countries, who carried out in-depth experience sharing and idea exchanges with team China. The treatment of severe patients tops as the first common concern to all the overseas hospitals. As the member of first batch among Peking Union Medical College Hospital's national team to help out Wuhan, Prof. Liu Zhengyin is the chief physician of the Department of Infectious Diseases. He, has extensive experience in the treatment of severe diseases. Based on his experience with a 63-year old patient, early clinical diagnosis is key to determine when severe illness has transformed into critical illness. Quick identification plays an important judgmental role in treatment decisions. Prof. Hu Bijie, member of the National and Shanghai COVID-19 Medical Treatment Expert Group and Director of the Infectious Diseases Department of Zhongshan Hospital Affiliated to Fudan University, also touched the same topic when sharing the "Shanghai Experience". He said, we should pay more attention to make sure that minor syndrome and medium-level patients don't develop towards severely ill patients, while critically ill patients should not become fatal ones. Individualized treatments and rigorous follow-ups are the main elements of successful treatment for critically illness. Shanghai has adopted a strategy of centralized treatment yet management of individual patients with customized specifications. The success rate of treatment is very high, with a mortality rate of about 1.2%. He pointed out although there is no special medicine for COVID-19 yet, it is very important to use antiviral drugs correctly to avoid the abuse of hormones and broad-spectrum antibiotics drugs. In the view of the experts at the meeting, the strategy of global prevention and control is inseparable from coordination. The joint efforts should come from several basic elements: discovery of the infection source, cutting off the transmission route, and protection of vulnerable groups. Sharing experiences: Fosun's global anti-epidemic entered into a new stage This conference is one of Fosun Pharma's many efforts against the pandemic. At one end, there were Chinese experts well experienced in battling against COVID-19; at the other end was overseas hospitals fighting the pandemic at the front line right now. Zhu Chouwen from Zhongshan Hospital affiliated to Fudan University and the Hubei-supported medical team shared the highlights of his management experience with designated COVID-19 hospitals and opined that social distancing is the most effective measure: the only way to minimise the morbidity rate and maximise the recovery one is insisting on scientific prevention, control and treatment and continuously enhancing treatment plans and methods. Meanwhile, countries around the world should work together to combat the COVID-19 epidemics. This was followed by Dr Laura Robbins, Senior Vice President of Hospital for Special Surgery, New York, who explained the situation of designated COVID-19 hospitals in New York, as well as Prof. Steve Field, former Deputy Medical Director for NHS England; Prof. Prof José Paiva, Director, National Inf Dis Control & Viral Resistance Project, Portugal Ms Isabel Vaz , Chief Executive Officer, Luz Saúde , Portugal, who illustrated the pandemic situations and related prevention and control progress in the UK and Portugal respectively. At present, the global pandemic situation is not positive, with the number of confirmed cases exceeding 330,000 in the US, nearing 50,000 in the UK and topping 10,000 in Portugal; therefore, the conference organised by Fosun Pharma this time offered the world "the right help at the right time". The treatment of severe cases is one of the issues concerning attendees from overseas hospitals. As the leader of the first national anti-COVID-19 medical team and a professor at the Infectious Disease Section of the Department of Internal Medicine at the Peking Union Medical College Hospital, Liu Zhengyin shared on a specific topic from his experience in treating severely ill patients in the intensive care unit. From the viewpoint of the expert attendees (including Liu Zhengyin), hospitals are the front line of the battle, but as medical workers are fighting the war, we should bear in mind protection of medical staff is, another equally important battle. Since COVID-19 is highly infectious, it is not easy to keep cases infected in hospitals at zero. Prof. Hu Bijie, who once fought the SARS epidemic in 2003, had a particularly deep understanding. Having worked in the anti-infectious field for more than 30 years and rescued numerous patients at the front line, Hu shared the experience of metropolis Shanghai in the fight against COVID-19 and repeatedly stressed the importance of maintaining a sense of defence for medical workers. A veteran with similar experience, Prof. Jia Xiaomin combined his personal experience in treating patients at the Hubei General Hospital Medical and Wuhan Jihe Hospital in common ways to prevent and control COVID-19 infections at hospitals and protect healthcare workers. Speaking of the day when the hospital was removed from the list of designated COVID-19 hospitals, he slightly lamented: "Since the hospital was designated on January 23, we had been fighting for 51 straight days, treating and discharging 515 patients and achieving 0% in the fatality rate and the infection rate for healthcare workers". Fosun's global assistance never stops Since the outbreak of novel coronavirus, the global staffs of Fosun has been participating in this battle. On March 1, Fosun officially kick-started the second phase of its battle against COVID-19, where it jointly initiated a global aid action with other caring companies under the guidance of the national foreign aid work framework, and exported medical supplies overseas by urgently allocating global resources. As of March 31, Fosun had allocated resources to multiple hard-hit overseas countries such as Italy, the US, France, Germany, the UK, Portugal, Japan, Korea and India, having various types of health protective materials including a total of 2.523 million face masks, protective gowns and nucleic acid detection reagents delivered. Currently, Fosun Pharma has been accelerating in its businesses of research and development of diagnostic reagents and vaccines related to COVID-19, which have obtained urgent approval from the National Medical Products Administration and the CE certification respectively, and have been exported as donations or products sold to overseas countries, including South Korea, Portugal, Hungary, Germany and Indonesia. With regards to the vaccine, Fosun Pharma has partnered with BioNTech, the world's leading mRNA therapy company, in COVID-19 vaccine development. In view of the international spread of COVID-19, Fosun's initiated global aid action still continues. "As a multinational corporation, we hope to contribute our due efforts to helping the world win this battle against COVID-19. We very much care about the health and safety of our overseas staff and customers and will firmly stand with the people of this world against the pandemic. I believe so long as we unit together for collective wisdom and mutual help, we must be able to overcome this obstacle and beat this coronavirus," commented Guo Guangchang, chairman and co-founder of Fosun International. View original content to download multimedia:http://www.prnewswire.com/news-releases/from-china-to-the-world-fosuns-fight-against-covid-19-continues-301036746.html
  • GenScript ProBio and Eutilex Enter into Exclusive Strategic Collaboration on Plasmid and Virus Process Development and Manufacturing for CAR-T Programs
    NANJING, China and SEOUL, South Korea, April 7, 2020 /PRNewswire/ -- GenScript Biotech Corporation's CDMO business GenScript ProBio (hereinafter referred to as GenScript ProBio) and Eutilex Co., Ltd. (hereinafter referred to as Eutilex) committed to developing anti-cancer immunotherapy technology jointly announced that the parties entered into strategic collaboration on plasmid and virus process development and manufacturing for multiple CAR-T programs in order to achieve win-win cooperation and accelerate the development of global immunotherapy. According to the collaboration agreement, by means of complementary advantages and strong alliances, Eutilex will use GenScript's high-quality one-stop plasmid and virus platform for plasmid and virus process development and manufacturing in its CAR-T programs. Supported by Eutilex's unique immunotherapy technology and GenScript ProBio's experience in plasmid and virus manufacturing, this collaboration will expedite the launch of cell therapy products. "We look forward to collaborating with GenScript ProBio," said Dr. Byoung S. Kwon, Eutilex Chairman, "Eutilex is committed to providing better therapeutics to cure the incurable human diseases. While we have exclusive core technology, we also need to cooperate with experienced partners like GenScript ProBio to help advance projects. We expect to provide more therapeutics for more patients through close collaboration." "Eutilex is a cell therapy leader in South Korea due to its unique technology. We are very pleased to cooperate with an innovative enterprise like Eutilex with cutting-edge technology," said Dr. Brian Min, GenScript ProBio CEO, "GenScript ProBio is committed to accelerating the commercialization of cell therapy and helping enterprises expedite the launch of cell therapy products. Drawing on each other's advantage through this collaboration, we move closer towards our goals. Relying on GenScript ProBio quality system and our plentiful experience in plasmid and virus process manufacturing, we have multiple ongoing cell therapy programs under plasmid and virus process manufacturing. GenScript ProBio will consistently offer process optimization and manufacturing in compliance with global quality standards based on the well-established global supply chain network, enable more global partners, and bring benefit to global patients soon." About Eutilex Co., Ltd. Founded in 2015 and based in Seoul, South Korea, Eutilex Co., Ltd. (Stock Code: 263050.KOSDAQ) is a biotechnology company focused on the research and development of innovative T cell receptor (TCR) T cell, chimeric antigen receptor (CAR) T cell, and immunomodulatory antibody therapeutics for cancer and autoimmune diseases. Eutilex is developing preclinical and clinical-stage immunotherapeutics using its three in-house platform technologies. The pipeline consists of first- and best-in-class immuno-oncology antibodies; viral, shared, and neo-antigen-specific TCR-T cell; and next generation CAR-T and U-CAR-T cell therapeutics. Eutilex is positioning itself to be a leading biotechnology company in the anti-tumor immunotherapy markets through its ground-breaking technical innovation and continues to push for early commercialization by developing its immuno-oncology pipelines in collaboration with a number of biotechnology companies and research institutes, globally. About GenScript ProBio GenScript ProBio is the bio-pharmaceutical CDMO segment of the world's leading biotech company GenScript Biotech Corporation (Stock Code: 1548.HK). GenScript ProBio is dedicated to providing end-to-end service from discovery to commercialization with proactive strategies, professional solutions  and  efficient processes to accelerate drug development for customers. GenScript ProBio 's innovative solutions for antibody drug development include: Antibody drug discovery (hybridoma, antibody library, fully human transgenic mice, bispecific antibodies technologies, and single b cell screening technology); Antibody engineering (antibody humanization, affinity maturation, and Fc engineering); Antibody characterization (analytics and bioassays). In terms of biologics development service, GenScript ProBio has built a regulatory-compliant platform, from stable cell line development to clinical manufacturing services,  providing high quality material for IND and clinical trials, and accelerating drug development process. GenScript ProBio 's gene and cell therapy solutions cover process development of plasmid and virus for IND filing as well as clinical manufacturing and commercial manufacturing. Our quality management systems ensure phase appropriate compliance, data integrity and traceability. With the principle of "Innovation through collaboration", GenScript ProBio is committed to shortening the timeline for development of biological drugs from discovery to late clinical, significantly reducing R&D costs, accelerating the commercialization of medicines, and building a healthier future. View original content:http://www.prnewswire.com/news-releases/genscript-probio-and-eutilex-enter-into-exclusive-strategic-collaboration-on-plasmid-and-virus-process-development-and-manufacturing-for-car-t-programs-301036606.html
  • GigaMedia Announces Fourth-Quarter and Full Year 2019 Financial Results
    TAIPEI, April 7, 2020 /PRNewswire/ -- GigaMedia Limited (NASDAQ: GIGM) today announced its unaudited financial results for the fourth quarter and full year of 2019. Highlights for Year Ended December 31, 2019 For 2019, GigaMedia reported revenues of $6.6 million, with a gross profit of $3.6 million, an operating loss of $2.9 million and the net loss of $1.5 million. "In spite of the mild decrease in revenues," said GigaMedia CEO James Huang, "in 2019 we continued improving our cost structure through strategic cost management, and applied effective KPIs to drive performance of departments across our Company." Compared to the prior year, the 2019 results exhibited overall improvements. Our gross margin rate has risen by 4.4% to 53.9% from 49.5% in 2018, and consequently the gross profit was even slightly higher than $3.5 million in the prior year, in spite of the decrease in revenues. The loss from operations was also cut by 40.1% from $4.8 million in 2018, and the net loss approximately halved. "In the past year of 2019, we kept emphasizing on developing our in-house offerings," continued GigaMedia CEO James Huang, "and in the fourth quarter, our new mobile platform of casual games passed the closed and open beta testing tracks. It is now in trial operations, through which we are establishing marketing rhythm, expanding product lines, and strengthening customer's loyalty." As for the current coronavirus (COVID-19) pandemic, CEO James Huang said, "While the virus ravages many countries in the world, our operations in Taiwan and Hong Kong have so far not been affected severely. Nonetheless, we have implemented strict hygiene and social distancing practices in our daily operations in order to protect the safety and health of our employees. We have also drawn up a contingency plan to ensure our business continuity against the escalating coronavirus situation." Fourth Quarter and Full Year Overview Consolidated 4Q revenues decreased 21.2% quarter-on-quarter, mainly due to seasonality. The year-over-year comparison was a decrease of 7.1%, mainly in licensed games, partly offset by increase in in-house casual games. Full year revenues decreased 6.4% to $6.6 million from $7.1 million in 2018. Loss from operations for 4Q was $0.3 million, representing a loss reduction from $0.5 million in 3Q, mainly due to a decrease in general and administrative expenses. Full year operating loss was $2.9 million, representing a loss reduction of $1.9 million from approximately $4.8 million for 2018. The net asset value was approximately $5.04 per share as of the end of 2019. Unaudited Consolidated Financial Results GigaMedia Limited is a diversified provider of digital entertainment services. GigaMedia's digital entertainment service business FunTown develops and operates a suite of digital entertainments in Taiwan and Hong Kong, with focus on mobile games and casual games. Unaudited consolidated results of GigaMedia are summarized in the table below. For the Full Year 2019 GIGAMEDIA FY19 UNAUDITED CONSOLIDATED FINANCIAL RESULTS (unaudited, all figures in US$ thousands, except per share amounts) FY19 FY18 Change (%) Revenues 6,645 7,101 -6.4 % Gross Profit 3,581 3,516 1.8 % Loss from Operations (2,891) (4,823) NM Net Loss Attributable to GigaMedia (1,535) (3,193) NM Net Loss Per Share Attributable to GigaMedia, Diluted (0.14) (0.29) NM EBITDA (A) (2,896) (4,360) NM Cash, Restricted Cash and Cash Equivalents 58,274 59,826 -2.6 % NM= Not Meaningful (A)       EBITDA (earnings before interest, taxes, depreciation, and amortization) is provided as a supplement to results provided in accordance with U.S. generally accepted accounting principles ("GAAP"). (See, "Use of Non-GAAP Measures," for more details.)  Consolidated revenues for the year ended December 31, 2019 was $6.6 million, decreased from $7.1 million in the prior year. The decrease was mainly due to a decline in our licensed mobile games. Consolidated loss from operations for 2019 was $2.9 million, compared to a loss of $4.8 million in the last year. The decrease of loss was due to improved cost-effectiveness across the Company. Consolidated net loss for 2019 was $1.5 million, compared to a net loss of $3.2 million in the prior year. Loss per share for 2019 was $0.14 per share, compared to a loss of $0.29 per share for the prior year. For the Fourth Quarter GIGAMEDIA 4Q19 UNAUDITED CONSOLIDATED FINANCIAL RESULTS (unaudited, all figures in US$ thousands, except per share amounts) 4Q19 3Q19 Change (%) 4Q19 4Q18 Change (%) Revenues 1,504 1,908 -21.17 % 1,504 1,619 -7.10 % Gross Profit 1,025 1,049 -2.29 % 1,025 880 16.48 % Loss from Operations (276) (544) NM (276) (1,021) NM Net Loss Attributable to GigaMedia (148) (242) NM (148) (503) NM Net Loss Per Share Attributable to GigaMedia, Diluted (0.01) (0.02) NM (0.01) (0.05) NM EBITDA (A) (435) (585) NM (435) (806) NM Cash, Restricted Cash and Cash Equivalents 58,274 58,164 0.19 % 58,274 59,826 -2.59 % NM= Not Meaningful (A)       EBITDA (earnings before interest, taxes, depreciation, and amortization) is provided as a supplement to results provided in accordance with U.S. generally accepted accounting principles ("GAAP"). (See, "Use of Non-GAAP Measures," for more details.)  Fourth-Quarter Financial Results Consolidated revenues for the fourth quarter of 2019 decreased by 21.2% quarter-on-quarter from $1.9 million to $1.5 million mainly due to seasonality, and decreased by 7.1% year-over-year mainly as revenues from certain licensed games dwindled. Consolidated loss from operations of the fourth quarter of 2019 was $0.3 million, compared to a loss of $0.5 million in the last quarter. Consolidated net loss of the fourth quarter of 2019 was $0.1 million, slightly improved from a net loss of $0.2 million in the last quarter. Cash, restricted cash and cash equivalents at the end of the fourth quarter of 2019 amounted to $58.3 million, which slightly increased from $58.2 million at the end of the prior quarter. Consolidated EBITDA for the fourth quarter of 2019 was a loss of $0.4 million compared to a loss of $0.6 million in the third quarter of 2019. Financial Position GigaMedia maintained its solid financial position. Cash, restricted cash and cash equivalents amounted to $58.3 million, or approximately $5.27 per share, along with zero bank loan and $55.7 million of shareholders' equity, as of December 31, 2019. Business Outlook The following forward-looking statements reflect GigaMedia's expectations as of April 7, 2020. Given potential changes in economic conditions and consumer spending, the evolving nature of digital entertainments, and various other risk factors, including those discussed in the Company's 2018 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission as referenced below, actual results may differ materially. "It is very difficult to foretell anything in current global economic turmoil, even for our digital entertainment business, which is comparatively less affected," said GigaMedia CEO James Huang, "but reassuringly, we have kept abundant financial resources to weather the storm, and we will continue to boost productivities by improving existing products and services, introducing own offerings, along with adopting strategies of promoting customer relationships." In the meantime, the global economic downturn may exhibit good M&A chances for us, as potential targets may be available at bargain prices. Therefore, we will continue, very cautiously, seeking suitable strategic investment and acquisition targets for increasing corporate growth and maximizing shareholder value. Use of Non-GAAP Measures To supplement GigaMedia's consolidated financial statements presented in accordance with U.S. GAAP, the Company uses the following measure defined as non-GAAP by the SEC: EBITDA. Management believes that EBITDA (earnings before interest, taxes, depreciation, and amortization) is a useful supplemental measure of performance because it excludes certain non-cash items such as depreciation and amortization and that EBITDA is a measure of performance used by some investors, equity analysts and others to make informed investment decisions. EBITDA is not a recognized earnings measure under GAAP and does not have a standardized meaning. Non-GAAP measures such as EBITDA should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, other financial measures prepared in accordance with GAAP. A limitation of using EBITDA is that it does not include all items that impact the Company's net income for the period. Reconciliations to the GAAP equivalents of the non-GAAP financial measures are provided on the attached unaudited financial statements. About the Numbers in This Release Unaudited results All quarterly and certain annual results referred to in the text, tables and attachments to this release are unaudited. The financial statements from which the financial results reported in this press release are derived have been prepared in accordance with U.S. GAAP, unless otherwise noted as "non-GAAP," and are presented in U.S. dollars. Q&A For Q&A regarding the fourth quarter and full year 2019 performance upon the release, investors may send the questions via email to IR@gigamedia.com.tw, and the responses will be replied individually. About GigaMedia Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of digital entertainment services in Taiwan and Hong Kong. GigaMedia's digital entertainment service business is an innovative leader in Asia with growing capabilities of development, distribution and operation of digital entertainments, as well as platform services for games with a focus on mobile games and casual games. More information on GigaMedia can be obtained from http://www.gigamedia.com.tw. The statements included above and elsewhere in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding expected financial performance (as described without limitation in the "Business Outlook" section and in quotations from management in this press release) and GigaMedia's strategic and operational plans. These statements are based on management's current expectations and are subject to risks and uncertainties and changes in circumstances. There are important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, including but not limited to, our ability to license, develop or acquire additional digital entertainment products or services that are appealing to users, our ability to retain existing users and attract new users, and our ability to launch digital entertainment products and services in a timely manner and pursuant to our anticipated schedule. Further information on risks or other factors that could cause results to differ is detailed in GigaMedia's Annual Report on Form 20-F filed in April 2019 and its other filings with the United States Securities and Exchange Commission. (Tables to follow) GIGAMEDIA LIMITED CONSOLIDATED STATEMENTS OF OPERATIONS Three months ended Twelve months ended 12/31/2019 09/30/2019 12/31/2018 12/31/2019 12/31/2018 unaudited unaudited unaudited unaudited audited USD USD USD USD USD Operating revenues Digital entertainment service revenues 1,503,848 1,908,261 1,618,931 6,644,924 7,100,636 Operating costs Cost of digital entertainment service revenues 479,341 859,511 739,324 3,064,201 3,584,875 Gross profit 1,024,507 1,048,750 879,607 3,580,723 3,515,761 Operating expenses Product development and engineering expenses 213,241 326,419 215,625 1,185,299 1,091,445 Selling and marketing expenses 427,090 461,653 576,256 1,995,285 3,296,636 General and administrative expenses 571,563 800,015 860,903 3,182,212 3,684,054 Impairment losses 85,199 — 243,966 85,199 243,966 Other 2,957 4,723 3,946 24,060 22,510 1,300,050 1,592,810 1,900,696 6,472,055 8,338,611 Loss from operations (275,543) (544,060) (1,021,089) (2,891,332) (4,822,850) Non-operating income (expense) Interest income 322,587 364,539 333,338 1,483,375 1,302,145 Interest expense (14,866) — — (14,866) — Foreign exchange (loss) gain - net (84,774) (62,487) 129,052 (67,741) 266,255 Gain on disposal of property, plant and equipment — — — — 31 Other - net (95,154) 119 56,162 (44,705) 61,358 127,793 302,171 518,552 1,356,063 1,629,789 Loss before income taxes (147,750) (241,889) (502,537) (1,535,269) (3,193,061) Income tax benefit (expense) — — — — — Net loss attributable to shareholders of GigaMedia (147,750) (241,889) (502,537) (1,535,269) (3,193,061) Loss per share attributable to GigaMedia Basic: (0.01) (0.02) (0.05) (0.14) (0.29) Diluted: (0.01) (0.02) (0.05) (0.14) (0.29) Weighted average shares outstanding: Basic 11,052,235 11,052,235 11,052,235 11,052,235 11,052,235 Diluted 11,052,235 11,052,235 11,052,235 11,052,235 11,052,235   GIGAMEDIA LIMITED  CONSOLIDATED BALANCE SHEETS 12/31/2019 09/30/2019 12/31/2018 unaudited unaudited audited USD USD USD Assets Current assets Cash and cash equivalents 57,742,696 57,635,576 59,307,829 Accounts receivable - net 368,445 591,302 523,004 Prepaid expenses 112,243 142,819 122,434 Restricted cash 530,984 528,387 517,815 Other receivables 261 457,168 2,998 Other current assets 138,601 165,295 120,802 Total current assets 58,893,230 59,520,547 60,594,882 Property, plant & equipment - net 111,770 101,998 121,585 Intangible assets - net 15,551 78,828 37,726 Prepaid licensing and royalty fees 43,915 468,722 435,156 Other assets 285,072 918,556 255,604 Total assets 59,349,538 61,088,651 61,444,953 Liabilities and equity Accounts payable 64,337 140,676 104,030 Accrued compensation 200,455 371,212 170,470 Accrued expenses 1,178,363 1,470,179 1,262,707 Unearned revenue 1,364,749 1,504,176 1,369,769 Other current liabilities 775,305 241,789 366,167 Total current liabilities 3,583,209 3,728,032 3,273,143 Other liabilities 94,385 662,530 — Total liabilities 3,677,594 4,390,562 3,273,143 GigaMedia's shareholders' equity 55,671,944 56,698,089 58,171,810 Total liabilities and equity 59,349,538 61,088,651 61,444,953   GIGAMEDIA LIMITED RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS Three months ended Twelve months ended 12/31/2019 9/30/2019 12/31/2018 12/31/2019 12/31/2018 unaudited unaudited unaudited unaudited unaudited USD USD USD USD USD Reconciliation of Net Income (Loss) to EBITDA Net loss attributable to GigaMedia (147,750) (241,889) (502,537) (1,535,269) (3,193,061) Depreciation 10,888 9,919 25,301 60,964 99,635 Amortization 9,669 11,126 4,137 46,523 36,013 Interest income (322,587) (364,539) (333,338) (1,483,375) (1,302,145) Interest expense 14,866 — — 14,866 — Income tax (benefit) expense — — — — — EBITDA (434,914) (585,383) (806,437) (2,896,291) (4,359,558)   View original content:http://www.prnewswire.com/news-releases/gigamedia-announces-fourth-quarter-and-full-year-2019-financial-results-301036584.htmlRelated Links :http://www.gigamedia.com.tw
  • China Rapid Finance Announces Appointment to Strengthen Leadership
    SHANGHAI, April 7, 2020 /PRNewswire/ -- China Rapid Finance Limited ("XRF" or the "Company") (NYSE: XRF), a fintech company in China, today announced its Vice President of Finance Mr. Hao (Kevin) Chen, has completed his planned onboarding and was appointed as Chief Financial Officer of the Company. Mr. Chen was also appointed as a Board member of the Company's Board of Directors. Mr. Steven Foo, the Company's former CFO, assisted with the onboarding transition as part of the Company's 2019 organizational plans. Mr. Foo will redirect his focus to new business development. "I am very pleased to have Kevin take the leadership role as our new CFO," said Dr. Zane Wang, founder and CEO of the Company. "Kevin has rich experience in audit, management, and senior finance leadership roles in the online industry. Since joining us in 2019, Kevin has led the completion of our annual filing, improved our financial reporting process, and strengthened internal controls. I have confidence that Kevin can meet the Company's upcoming challenges as we explore new business opportunities." Po Wang, Executive Director of the Company, added, "Kevin has made key contributions to the Company's financial reporting, SEC and NYSE filings, and internal controls since joining the Company. He has proven that he is strengthening the leadership of the company. We are looking forward to creating greater value to the Company together." "I know the challenges that XRF is facing. That's the reason I take the responsibility," Kevin Chen said. "I am looking forward to working with the Board and the management team to contribute to XRF's future success as the Company progresses to the next phase of its strategy." Kevin Chen joined XRF in 2019 as Vice President of Finance. Prior to XRF, Mr. Chen was audit manager at Ernst &Young LLP and participated in various US initial public offerings for Chinese Internet companies. Mr. Chen was also senior manager at Qunar.com and CFO at Hong Kong Jingzhengu Holdings Ltd. Mr. Chen holds a bachelor's degree in Mathematics from Shandong University and a master's degree in Economics from Shanghai University of Finance and Economics. He is a US Certified Public Accountant, as well as a Certified Management Accountant and Certified Internal Auditor. About China Rapid Finance               China Rapid Finance Limited (NYSE: XRF) is a fintech company in China that offers decisioning technology and marketing services that addresses China's growing consumer credit market. The Company utilizes its proprietary technology and 19 years of experience to provide its services. The Company is establishing partnerships and is currently developing strategic alternatives and new businesses in financial technology, marketing services and loan portfolio management. For more information, please visit http://ir.crfchina.com.   View original content:http://www.prnewswire.com/news-releases/china-rapid-finance-announces-appointment-to-strengthen-leadership-301036700.htmlRelated Links :http://www.crfchina.com
  • IT Tech Packaging, Inc. Provides Updates on Tissue Paper Production
    BAODING, China, April 7, 2020 /PRNewswire/ -- IT Tech Packaging, Inc. (NYSE MKT: ITP) ("IT Tech Packaging" or "the Company"), a leading manufacturer and distributor of diversified paper products in North China, today announced that its tissue paper production lines are now running at full production capacity to fulfill orders. The average selling price of tissue paper increased 8% from USD $836 per tonne to USD $903 per tonne in the first quarter, resulting from growing demand because of Covid-19.  Mr. Zhenyong Liu, the CEO and Chairman of the Company commented, "After a short delay of production due to Covid-19 restrictions, we have experienced increasing market demand and orders for tissue paper products. We anticipate that this trend will carry over to the second quarter and more sales will be generated from our tissue paper products during the first quarter of 2020." About IT Tech Packaging, Inc. Founded in 1996, IT Tech Packaging, Inc. is a leading manufacturer and distributor of diversified paper products in North China. Using recycled paper as its primary raw material (with the exception of its tissue paper products), ITP produces and distributes three categories of paper products: corrugating medium paper, offset printing paper and tissue paper products. With production based in Baoding and Xingtai in North China's Hebei Province, ITP is located strategically close to the Beijing and Tianjin region, home to a growing base of industrial and manufacturing activities and one of the largest markets for paper products consumption in the country. ITP has been listed on the NYSE MKT since December 2009. Safe Harbor Statements This press release may contain forward-looking statements. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the Company's public filings with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K. All information provided in this press release speaks as of the date hereof. Except as otherwise required by law, the Company undertakes no obligation to update or revise its forward-looking statements. For more information, please contact: At the Company Email: ir@itpackaging.cn  Tel: +86 0312 8698215 Investor Relations: Janice WangEverGreen Consulting Inc.Email: ir@changqingconsulting.com View original content:http://www.prnewswire.com/news-releases/it-tech-packaging-inc-provides-updates-on-tissue-paper-production-301036629.htmlRelated Links :http://www.itpackaging.cn/
  • Kazia's Paxalisib Shows Positive Overall Survival Signal in Phase II Glioblastoma Study
    SYDNEY, April 7, 2020 /PRNewswire/ -- Kazia Therapeutics Limited (ASX: KZA; NASDAQ: KZIA), an Australian oncology-focused biotechnology company, is pleased to share positive interim data from its ongoing phase II study of paxalisib (formerly GDC-0084) in glioblastoma, the most common and most aggressive form of primary brain cancer. Key Points Interim analysis of Part A (escalation cohort) (n=9) showed median overall survival (OS) of 17.7 months, representing a clinically meaningful extension of life when compared to the 12.7 months associated with the existing standard of care, temozolomide Interim analysis of all evaluable patients (Part A = 9; Part B = 21) shows median progression-free survival (PFS) of 8.5 months, broadly in line with previous analysis, and comparing favourably to the 5.3 months associated with temozolomide The longest-treated patient remains progression-free 19 months after diagnosis Approximately half the enrolled patients remain on drug and both OS and PFS figures may further improve as the trial progresses toward conclusion Kazia expects to present further data in 2H CY2020 and final data in 1H CY2021 Summary of Paxalisib Data in Comparison to Temozolomide (existing standard of care) Temozolomide(FDA-approved treatment) Paxalisib (interim phase II data) Progression-Free Survival (PFS) Measures ability of a drug to slow growth of a tumour 5.3 months 8.5 months Overall Survival (OS) Measures ability of a drug to prolong life 12.7 months 17.7 months Kazia CEO, Dr James Garner, commented, "This is an excellent result, and we are delighted with the emerging data. The 'gold standard' for any new cancer treatment is the ability to extend life - an especially challenging goal in a disease such as glioblastoma - and this data provides our first evidence that paxalisib may achieve this objective in a very challenging patient population." He continued, "There have not been any new drug treatments for newly-diagnosed glioblastoma patients for over twenty years, and we aspire to change that situation. We believe that paxalisib is rapidly becoming one of the most promising drug candidates in the global pipeline for this very challenging disease and we will be working strenuously to make it available to patients as quickly and efficiently as possible. The study continues to follow a number of patients who remain on treatment, and we currently expect to report a further data read-out in the second half of the year." Background The reported overall survival (OS) figure of 17.7 months represents a strong signal of clinical efficacy. The existing, FDA-approved standard of care, temozolomide, is associated with an OS of 12.7 months in this patient population[1]. Comparison between different studies is always imprecise, but the magnitude of the numerical difference provides powerful evidence that treatment with paxalisib may extend life in this patient group. The reported progression-free survival (PFS) figure of 8.5 months is slightly better than the figure of 8.4 months previously reported in November 2019. Temozolomide is associated with a PFS of 5.3 months in this patient population. Before losing patent protection, temozolomide achieved peak sales in excess of US$ 1 billion per annum, which provides an indication of the commercial opportunity associated with a new treatment for glioblastoma. Thirty patients were enrolled to this study, comprising 9 in Part A, and 21 in Part B. Data reported here are provisional figures from Part A (for OS) and from the entire study population (for PFS), but may change as ongoing patients proceed through the study. The study has been conducted at leading centers of excellence in the United States. The safety of paxalisib remained broadly consistent with prior experience, with hyperglycaemia (raised blood sugar), oral mucositis (mouth ulcers), and low-grade rash among the most common drug-related toxicities. In addition to this phase II study in glioblastoma, four other studies are underway with paxalisib in different forms of brain cancer, and it is anticipated that several of these will provide initial efficacy data during CY 2020. This data had been accepted for presentation at the annual meeting of the American Association of Cancer Research (AACR) in San Diego, CA from 24 -29 April 2020. However, given the cancellation of the AACR meeting due to the COVID-19 outbreak, Kazia has determined to provide an update to investors via this ASX announcement. Next Steps The phase II study remains ongoing, with approximately half of the total enrolled patient population still receiving drug at the time of analysis and a number of additional patients still in follow-up. At this stage, Kazia expects to present further data in 2H CY2020, and final data in 1H CY2021. [1] ME Hegi, A-C Desirens, T Gorlia, et al. N Engl J Med (2005); 352:997-1003 [ENDS] About Kazia Therapeutics Limited Kazia Therapeutics Limited (ASX: KZA, NASDAQ: KZIA) is an innovative oncology-focused biotechnology company, based in Sydney, Australia. Our pipeline includes two clinical-stage drug development candidates, and we are working to develop therapies across a range of oncology indications. Our lead program is paxalisib (formerly GDC-0084), a small molecule inhibitor of the PI3K / AKT / mTOR pathway, which is being developed to treat glioblastoma multiforme, the most common and most aggressive form of primary brain cancer in adults. Licensed from Genentech in late 2016, paxalisib entered a phase II clinical trial in 2018. Interim data was reported in April 2020, and further data is expected in 2H 2020. Paxalisib was granted orphan designation for glioblastoma by the US FDA in February 2018. TRX-E-002-1 (Cantrixil), is a third-generation benzopyran molecule with activity against cancer stem cells and is being developed to treat ovarian cancer. TRX-E-002-1 is currently undergoing a phase I clinical trial in Australia and the United States. Interim data was presented at the ESMO Congress in September 2019, and the study remains ongoing. Cantrixil was granted orphan designation for ovarian cancer by the US FDA in April 2015. Logo - https://photos.prnasia.com/prnh/20171120/1996749-1LOGO?lang=0  
  • CROMSOURCE Announces Launch of COVID-19 Clinical Trial
    VERONA, Italy, 7 April, 2020 /PRNewswire/ -- CROMSOURCE, an international contract research organization (CRO) with its global headquarters in Verona, Italy, has announced that it has initiated its first COVID-19 trial on behalf of a European pharmaceutical company. This trial is expected to be performed in Italy, though additional studies are planned by CROMSOURCE for other countries in Europe as well as the United States.      "The COVID-19 pandemic has created an unprecedented global health and economic crisis. While all the work we have done in the previous twenty-two years of our operations has been critical in improving and saving lives, we are particularly proud to play such an important role in developing a safe and effective treatment for COVID-19," said Dr. Oriana Zerbini, Founder and CEO of CROMSOURCE. "The current global situation is humbling to us all, and we look forward to all global citizens returning to their daily routines." "In response to the COVID-19 situation CROMSOURCE immediately formed a multi-disciplinary operational task force to ensure we continue to manage ongoing projects effectively, according to the most up to date regulatory guidance and incorporating innovative approaches to trial management as required," commented Kerry Dyson, Chief Operating Officer. "These steps also ensured our readiness to rapidly and effectively launch clinical trials for COVID-19 therapies, demonstrated by our support of this important new study." About CROMSOURCE CROMSOURCE is an ISO-certified, international contract research organization providing a comprehensive portfolio of services to the pharmaceutical, biotechnology, and medical device industries. Specializing in clinical development and staffing solutions, we offer a flexible approach to ensure our clients' unique needs are supported. CROMSOURCE is unparalleled in offering an End-to-End Guarantee covering trial timelines, enrollment, and price. CROMSOURCE operates offices across all regions of Europe and North America. For more information, visit http://www.cromsource.com. Contact Info Margherita Mosconi  margherita.mosconi@cromsource.com   +39-045-8222-811 Logo: https://mma.prnewswire.com/media/663606/CROMSOURCE_Logo.jpg 
  • Guotai Junan International Announces 2019 Annual Results, Total Revenue Reaches New Peak Despite Market Condition
    SHANGHAI, April 7, 2020 /PRNewswire/ -- Guotai Junan International Holdings Limited ("Guotai Junan International", Stock code: 1788.HK) has announced its annual results for the year 2019 (as of December 31). Looking back, the Group saw a 40% YOY increase in total revenue, recording HKD 4,246 million approximately, achieving historic high. The profit attributable to shareholders amounted to HKD 895 million, representing a YOY growth of approximately 12%. The Board recommends that the payout ratio rises to 57% and total dividends increase by 27% yearly. In 2019, the Group's revenue structure has become more balanced. In the year, the fee and commission income, interest income and investment income accounted for 33%, 36% and 31% of the total revenue, respectively. In terms of investment income, the coupon of fixed income accounted for 20% of the total revenue, and trading income recorded after fair value accounted for 11%. In recent years, the Group has been practicing strategic adjustment to improve risk-adjusted return ratio on capital. The Group's fee and commission income has greatly increased by 26% to HKD 1,419 million, achieving a record high. The income from brokerage, corporate finance and asset management has increased by 17%, 36% and 118% YOY, respectively. In 2019, the Group's wealth management platform has continuously attracted high-quality clients, brokerage income increased by 17% YOY to HKD 531 million, in which commission fee from securities trading rose by 23% to HKD 453 million. In November 2019, the Group became the third Chinese-funded financial institution to qualify to issue structured products in the Hong Kong market, and launched its Derivative Warrants and Callable Bull / Bear Contracts products. In 2019, the Group has maintained its leading role in debt capital markets, with underwriting fee increased by 23% YOY to HKD 594 million. The number of completed underwriting deals and the amount of raised funds in primary debt securities market achieved record high, with a total of 189 debt issuances, assisting corporates raising funds of nearly HKD 423.3 billion. In the future, Guotai Junan International will continue strengthening its capabilities in wealth management services and global asset allocations, offering one-stop comprehensive investment and financing solutions. Meanwhile, the Group will adhere to its core objective to increase risk-adjusted return ratio on capital and reward clients and investors for their long-term support with a steady, sustained and high compound growth. View original content:http://www.prnewswire.com/news-releases/guotai-junan-international-announces-2019-annual-results-total-revenue-reaches-new-peak-despite-market-condition-301036528.html
  • iQIYI Takes the Lead in the Industry to Introduce Multi-Perspective Watching Mode for Its Hit Variety Show "Youth With You 2"
    BEIJING, April 7, 2020 /PRNewswire/ -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, has introduced a multi-perspective watching mode for its original variety show Youth With You 2 (the "Show") that allows users to simultaneously watch the public performance of the Show's over 100 trainees from a view of the whole stage and a separate view that focuses on their favorite trainee. iQIYI Takes the Lead in the Industry to Introduce Multi-Perspective Watching Mode for Its Hit Variety Show "Youth With You 2" Leveraging iQIYI's long-term exploration and expertise in interactive video technology, Youth With You 2 pioneered the zero-latency simultaneous streaming of footage from two different views - the main stage view and the trainee view. The feature also allows users to exit and enter the multi-perspective watching mode anytime. To ensure the best viewing results, iQIYI optimized the capabilities of its video player to deliver a smooth streaming performance on mid- to low-end devices. The multi-perspective watching mode is powered by iQIYI's angle-switching technology that was developed under its Interactive Video Guideline and creates a more personalized and immersive viewing experience. As a pioneer in rolling out multi-perspective watching features for single screen-viewings of a variety show in China, iQIYI sets a new paradigm for technology-empowered variety shows.  The application of angle-switching technology in major variety shows is the latest step in iQIYI's technology + entertainment initiative. iQIYI's original variety shows, such as The Rap of China, CZR and The Big Band have leveraged sub-plots, screen information exploration and other capabilities to break the temporal and spatial limits to get the best out of high-quality content, enhancing the overall interactive user experience. iQIYI has been optimizing viewer experience through all kinds of innovative technologies and products. In Youth With You 2' s case, iQIYI's AI Radar "Qiguan" features an interactive "Who is She?" button which allows users to identify a particular contestant with a single click. Qiguan also allows users to have quick access to a contestant's biography and previous works by connecting with iQIYI Encyclopedia and iQIYI Paopao in the iQIYI ecosystem. Users can also seamlessly switch to Paopao, iQIYI's entertainment community for fans, to express their support for their favorite contestant. The Qiguan feature has been hugely popular and was used nearly one million times within the first week of the show's release. It now also supports the identification of background music with one click. iQIYI's AI Radar "Qiguan" feature allows users to have quick access to a contestant's biography and previous works. As iQIYI's first original variety show that is released in 2020, Youth With You 2 brings together an all-star cast including Youth Producer Representative KUN, the winner of Idol Producer, show mentor LISA from the international idol group BLACKPINK, and the participation of over 100 female idol trainees from 46 talent agencies. The Show provides a platform of training and competition for these idol trainees, of which at the end, only a few are selected through viewers' votes to debut as an idol group.  Going forward, iQIYI will continue to optimize the watching experience with innovative technology, offering users a more diverse entertainment experience.  About iQIYI, Inc. iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI's platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, partner-generated content and user generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, live broadcasting, online games, IP licensing, online literature and e-commerce. Photo - https://photos.prnasia.com/prnh/20200407/2769456-1-a?lang=0 Photo - https://photos.prnasia.com/prnh/20200407/2769456-1-b?lang=0 Related Links :http://www.iqiyi.com
  • iQIYI Takes the Lead in the Industry to Introduce Multi-Perspective Watching Mode for Its Hit Variety Show "Youth With You 2"
    BEIJING, April 7, 2020 /PRNewswire/ -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, has introduced a multi-perspective watching mode for its original variety show Youth With You 2 (the "Show") that allows users to simultaneously watch the public performance of the Show's over 100 trainees from a view of the whole stage and a separate view that focuses on their favorite trainee. iQIYI Takes the Lead in the Industry to Introduce Multi-Perspective Watching Mode for Its Hit Variety Show "Youth With You 2" Leveraging iQIYI's long-term exploration and expertise in interactive video technology, Youth With You 2 pioneered the zero-latency simultaneous streaming of footage from two different views - the main stage view and the trainee view. The feature also allows users to exit and enter the multi-perspective watching mode anytime. To ensure the best viewing results, iQIYI optimized the capabilities of its video player to deliver a smooth streaming performance on mid- to low-end devices. The multi-perspective watching mode is powered by iQIYI's angle-switching technology that was developed under its Interactive Video Guideline and creates a more personalized and immersive viewing experience. As a pioneer in rolling out multi-perspective watching features for single screen-viewings of a variety show in China, iQIYI sets a new paradigm for technology-empowered variety shows.  The application of angle-switching technology in major variety shows is the latest step in iQIYI's technology + entertainment initiative. iQIYI's original variety shows, such as The Rap of China, CZR and The Big Band have leveraged sub-plots, screen information exploration and other capabilities to break the temporal and spatial limits to get the best out of high-quality content, enhancing the overall interactive user experience. iQIYI has been optimizing viewer experience through all kinds of innovative technologies and products. In Youth With You 2' s case, iQIYI's AI Radar "Qiguan" features an interactive "Who is She?" button which allows users to identify a particular contestant with a single click. Qiguan also allows users to have quick access to a contestant's biography and previous works by connecting with iQIYI Encyclopedia and iQIYI Paopao in the iQIYI ecosystem. Users can also seamlessly switch to Paopao, iQIYI's entertainment community for fans, to express their support for their favorite contestant. The Qiguan feature has been hugely popular and was used nearly one million times within the first week of the show's release. It now also supports the identification of background music with one click. iQIYI's AI Radar "Qiguan" feature allows users to have quick access to a contestant's biography and previous works. As iQIYI's first original variety show that is released in 2020, Youth With You 2 brings together an all-star cast including Youth Producer Representative KUN, the winner of Idol Producer, show mentor LISA from the international idol group BLACKPINK, and the participation of over 100 female idol trainees from 46 talent agencies. The Show provides a platform of training and competition for these idol trainees, of which at the end, only a few are selected through viewers' votes to debut as an idol group.  Going forward, iQIYI will continue to optimize the watching experience with innovative technology, offering users a more diverse entertainment experience.  About iQIYI, Inc. iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI's platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, partner-generated content and user generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, live broadcasting, online games, IP licensing, online literature and e-commerce. View original content to download multimedia:http://www.prnewswire.com/news-releases/iqiyi-takes-the-lead-in-the-industry-to-introduce-multi-perspective-watching-mode-for-its-hit-variety-show-youth-with-you-2-301036507.html
  • Record-Breaking Global Mobility Grounded by COVID-19 Pandemic
    LONDON, April 7, 2020 /PRNewswire/ -- With global travel almost at a standstill, the latest results of the Henley Passport Index offer disturbing insight into the indiscriminate havoc caused by the COVID-19 pandemic. Since its inception in 2006, the index has provided the authoritative annual ranking of global passport strength. Travel freedom has increased dramatically over the period — in 2006, a citizen could travel to 58 destinations on average without a visa from the host nation; 14 years later, this number has almost doubled to 107. The first ranking of the new decade published in January this year conclusively confirmed that overall, people were the most globally mobile than we had ever been in the history of humankind, with the top-ranking passport (Japan) offering its holders access to a record-breaking 191 destinations without requiring a visa in advance. Just three months later, the picture looks very different. Japan's passport continues to hold the top spot but the reality is that current stringent travel restrictions mean that non-essential travel for Japanese nationals is heavily curtailed. This is true for almost every country of course, as more travel bans are implemented daily, and ever-more stringent coronavirus lockdown regulations are imposed by governments worldwide. With 3.5 billion people, nearly half the global population, presently living in voluntary or mandatory confinement, the latest results from the index — which is based on exclusive data from the International Air Transport Association (IATA) — raise challenging questions about what travel freedom and global mobility really mean, both currently and in a deeply uncertain post-pandemic future. Dr. Christian H. Kaelin, Chairman of Henley & Partners and the inventor of the passport index concept, points out that in an unprecedented global health emergency such as this, relative passport strength becomes temporarily meaningless. "A Swiss citizen can, in theory, travel to 185 destinations around the world without needing a visa in advance, but the last few weeks have made it apparent that travel freedom is contingent on factors that can be utterly beyond our control. This is something that citizens of countries with weak passports in the lower ranks of the index are all too familiar with." Bestselling author and the Founder and Managing Partner of FutureMap, Dr. Parag Khanna, says the combined effect of the COVID-19 pandemic on public health, the global economy, and social behavior could lead to much deeper shifts in our human geography. "This may seem ironic now but as the curtain lifts, people will seek to move from poorly governed and ill-prepared 'red zones' to 'green zones' or places with better medical care. Alternatively, people may relocate to places where involuntary quarantine, whenever it strikes next, is less torturous. In the US, both domestic and international migration were surging before the pandemic, with Gen-Xers and millennials shifting to cheaper, second-tier cities in the Sun Belt or abroad to Latin America and Asia in search of an affordable life. Once quarantines lift and airline prices stand at rock bottom, expect more people across the globe to gather their belongings and buy one-way tickets to countries affordable enough to start fresh." This is supported by emerging research and analysis commissioned by Henley & Partners, which suggests that the unprecedented and overwhelming focus on health security and pandemic preparedness may change the face of global mobility forever. Political science researchers Uğur Altundal and Ömer Zarpli of Syracuse University and the University of Pittsburgh, respectively, warn that "the quality and level of health security of a country could be a significant consideration for visa waivers in future". Commenting on the ever-expanding growth of the investment migration industry, Dr. Juerg Steffen, CEO of Henley & Partners, says: "We believe that in the post-COVID-19 environment, investment migration will take on a dramatically enhanced importance for both individual investors and sovereign states. Acquiring alternative residence or citizenship will act as a hedge against the significant macro-economic volatility that is predicted, creating even more sovereign and societal value across the world." Media ContactPaddy BlewerGroup PR Directorpaddy.blewer@henleyglobal.com
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