company’s – PressAP

ACN Newswire

SF Intra-City’s H share full circulation expected to complete 78.95 million unlisted domestic shares to be listed on 7 February

February 3, 2023

HONG KONG, Feb 3, 2023 - (ACN Newswire via SEAPRWire.com) - Hangzhou SF Intra-City Industrial Co., Ltd. ("SF Intra-City" or the "Company", together with its subsidiaries the "Group"; stock code: 9699), the largest third-party on-demand delivery service platform in China(1), announced today that based on the current timetable, which is subject to adjustment, the conversion of 78,947,684 unlisted domestic shares of the Company into H shares is expected to be completed on 6 February 2023, and that the listing of the Converted H Shares on the Stock Exchange will commence at 9:00 a.m. on 7 February 2023.Upon completion of the conversion and listing, the Company's total number of H shares will be increased from 231,341,342 to 310,289,026, representing an increase in the approximate percentage of issued H shares from 24.78% to 33.24% of the Company's total number of shares.The Company expects H share full circulation to increase trading volume in the Company's shares, boost liquidity and improve the turnover rate, further improve the Company's corporate governance structure, enhance the Company's capital market performance and strengthen investors' focus on the Company's value proposition. H share full circulation is also expected to promote the Group's long-term development by reducing the mismatch between the market capitalisation of its shares and the size of its business. The Company believes that H share full circulation will enhance capital allocation demand for its shares and boost its valuation, which will benefit the Company's development and shareholders' interests in the long run.The positive news regarding the H share full circulation follows the Group's recent announcement of a more than 50% year-on-year reduction in its loss for the financial year 2022. In 2022, the Group strived to provide high quality, efficient and stable instant fulfilment services, achieving good revenue growth and enhanced economies of scale and network effects thanks to its efforts to build a healthy and robust business structure and its in-depth cultivation of diversified service scenarios such as delivery in a broad range of sectors, including the food and beverage and retail sectors, its expansion in lower-tier cities and personalised services. Furthermore, the significant improvements in the Group's gross profit and gross profit margin for the Year are attributable to differentiated services driving high-value orders, comprehensive planning and scheduling driven by technology to achieve better delivery network efficiency and various measures to continuously refine management and enhance operation quality, which led to improvement in the efficiency of resource allocation and utilisation.About Hangzhou SF Intra-City Industrial Co., Ltd. (stock code: 9699.HK)SF Intra-City focuses on the emerging opportunities of intra-city on-demand delivery services. Since 2019, SF Intra-City has operated as an independent legal entity to capture the growth opportunities arising from the new consumption trends. SF Intra-City adopts a multi-scenario business model, providing full coverage of delivery scenarios for all types of products and services. The Company's extensive service coverage, ranging from mature scenarios such as food delivery to growth scenarios such as local retail, local e-commerce and local services, has enabled it to respond to the evolving customer needs resulting from the development and upgrade of the local consumer market. For more details, please visit company's website: https://ir.sf-cityrush.com/en/investor-relations/.(1) Ranking is based on independent third-party order volume in China in 2021, according to iResearch. The calculation of order volume takes into account the number of orders sourced independently by the market players, excluding orders from related parties. Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

SinoHytec Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange, Offer Price Between HK$60 and HK$76 per H Share, Raise up to HK$1,540.7 million

December 29, 2022

HONG KONG, Dec 29, 2022 - (ACN Newswire via SEAPRWire.com) - The leading provider of fuel cell systems in China - Beijing SinoHytec Co., Ltd. ("SinoHytec" or the "Company", Stock Code: 2402), today announced the proposed listing of its shares on the Main Board of the Stock Exchange of Hong Kong Limited ( the "Hong Kong Stock Exchange"). SinoHytec plans to offer an aggregate of 17,628,000 H shares under the Global Offering (subject to the Over-allotment Option), comprising an International Offering of 15,865,200 H shares (subject to Reallocation and the Over-allotment Option), representing 90% of the initial offer shares; and Hong Kong Public Offering of 1,762,800 H shares (subject to Reallocation), representing 10% of the initial offer shares), at a price range between HK$60 and HK$76 per Offer Share. The Hong Kong Public Offering will commence at 9 a.m., December 29, 2022 (Thursday), and close at 12:00 noon on January 5, 2023 (Thursday). Dealings in the shares of SinoHytec on the Main Board of the Hong Kong Stock Exchange is expected to commence on January 12, 2023 (Thursday), with the stock code 2402 and in board lots of 50 Offer Shares each.Guotai Junan Capital Limited and Giraffe Capital Limited are the Joint Sponsors.SinoHytec is a leading provider of fuel cell systems in China, focusing on the design, development and manufacture of fuel cell systems and stacks (a key component of the system) mainly for commercial vehicles, such as buses and trucks. According to the China Insights Industry Consultancy Limited Report ("CIC Report"), the company ranked first in the PRC fuel cell system market in terms of the total power output of fuel cell systems sold* in 2021, with a market share of 27.8%; and in 2021, fuel cell systems accounted for approximately 0.8% of the total sales volume of new energy systems for commercial vehicles, while lithium battery systems accounted for the rest of the total sales volume. As of June 30, 2022, the company's fuel cell systems were installed on 80 models of fuel cell vehicles that are featured in the MIIT New Energy Vehicle Catalogs, ranking us first in the industry.Leader in China's fast growing fuel cell system marketEstablished in 2012, the company is a pioneer in the R&D and commercialization of fuel cell systems in China and started batch production in 2016. The company also participated in the fuel cell vehicle development and commercialization scheme of the United Nations Development Programme in China and witnessed the progress of the PRC fuel cell industry from the R&D phase to pilot testing and to commercialization. The company's fuel cell systems are installed on commercial vehicles operating across various PRC cities, including Beijing, Zhangjiakou, Shanghai, Chengdu, Zhengzhou and Zibo. As of December 20, 2022, the company's fuel cell systems have powered over 2,800 fuel cell vehicles on the road in China. These vehicles had an average mileage of around 40,000 kilometers per vehicle, accumulating over 108.6 million kilometers and 2.3 million hours of operations, which built an industry leading record.Strong research and development capabilitiesThe Company adheres to a R&D principle of "Advance Research", "Continuous Development" and "In-depth Promotion". The key objectives of the Company R&D and product testing activities are to optimize and upgrade the company products' adverse weather capabilities, durability, reliability, efficiency, safety and economy. As of June 30, 2022, the Company has establised an outstanding R&D team of 270 members. The Company also cooperated with leading research universities in China, such as Tsinghua University, to facilitate the development and commercialization of innovative fuel cell technologies so that the Company can respond to the fast-changing market demands.The Company's R&D team has progressively developed the 30kW, 40kW, 50kW, 60kW, 80kW, 100kW, 120kW and 150kW models of fuel cell systems over the years. In particular, the Company launched the 240kW high power output model in December 2021, which is the first automotive fuel cell system in China that can reach a rated power of 240kW.In addition, the Company participated in and achieved significant results in various R&D projects sponsored by the PRC government. As of June 30, 2022, the Company had over 590 patents, including over 210 invention patents, over 360 utility model patents, and 20 design patents. In addition, the Company has more than 590 patent applications that have been accepted by the State Intellectual Property Office of China.* Sales volume of fuel cell systems comprises only direct sales to fuel cell vehicle manufacturers.Solid partnerships with major PRC commercial vehicle manufacturersThe Company has built solid long-term partnerships with major commercial vehicle manufacturers in China, such as Beiqi Foton, Yutong Bus and Geely Commercial Buses, through jointly undertaking national-level R&D projects and codeveloping, demonstrating and testing fuel cell vehicles. In particular, Beiqi Foton and Yutong Bus purchased the Company's fuel cell systems on order basis since 2016 and 2018, respectively, for the production of their fuel cell vehicles. The Company codeveloped with Toyota and Beiqi Foton transit buses using the Company's fuel cell systems which are designated as the official transport vehicles at the Beijing 2022 Olympic Winter Games. As of June 30, 2022, the Company has sold fuel cell systems to over 20 commercial vehicle manufacturers whose total fuel cell vehicles sold in 2021 represented nearly 60% of the market share in China. In addition, Beiqi Group and Yutong Bus have become the company Shareholders and strategic partners, representing the recognition of us by the downstream players of the fuel cell vehicle industry.Integrated components supply system and close cooperation with suppliersAfter years of dedication, the Company built a comprehensive procurement system with local suppliers. During the Track Record Period, the Company has established a relatively stable long-term relationship with over 300 suppliers in China, providing parts such as MEA and air compressors. During the Track Record Period, the company had localized the supply of MEA and procured more raw materials from local suppliers each year.Mr. Zhang Guoqiang, Chairman, Executive Director and General Manager of SinoHytec said, "Our mission is to leverage advanced hydrogen fuel cell technologies to contribute to China's carbon emission peak and carbon neutralitygoal and empower global energy transition. We are committed to becoming a global leader in hydrogen fuel cell technologies for promoting a sustainable and low-carbon future. New energy vehicle development is strategically significant to China's energy security and environmental protections. We intend to achieve this goal by implementing the following strategies: further advance the R&D of fuel cell systems and core components; expand the production capacity of fuel cell stacks to meet the growing market demand and achieve economies of scale; strategically expand our customer base and geographical coverage; expand and strengthen our supply chains; and improve our brand awareness and promote the application of fuel cell systems. We will grasp the opportunities arising in future trend and development of the industry, leverage on our competitive advantages to further consolidate SinoHytec's market position, and create the greatest value for shareholders and investors."Beijing SinoHytec Co., Ltd.Fact SheetInformation on the Global Offering:Number of Offer Shares under the Global Offering: 17,628,000 H Shares (subject to the Over-allotment Option)Number of Hong Kong Offer Shares: 1,762,800 H Shares (subject to reallocation)Number of International Offer Shares: 15,865,200 H Shares (subject to reallocation and the Over-allotment Option)Maximum Offer Price: HK$76.00 per H Share, plus brokerage fee of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565% (payable in full on application in Hong Kong dollars and to refund)Board Lot: 50 H SharesStart of the Hong Kong Public Offering: 9:00 a.m., December 29, 2022 (Thursday)End of the Hong Kong Public Offering: 12:00 noon, January 5, 2023 (Thursday)Announcement of Allotment Results: January 11, 2023 (Wedsnesday)Expected Listing Date: January 12, 2023 (Thursday)Stock Code: 2402Use of Proceeds:The Company estimates that it will receive net proceeds of approximately HK$1121.8 million from the Global Offering, after deducting the underwriting commissions, fees and estimated expenses payable by the Company in connection with the Global Offering, assuming that the Over-allotment Option is not exercised and assuming an Offer Price of HK$68 per Share (being the mid-point of the indicative Offer Price range). The Company intends to use the net proceeds for the following purposes: 1) Approximately 75.0% (approximately HK$841.2 million) will be used to fund the research and development in the next three years;2) Approximately 15.0% (approximately HK$168.4 million) will be used for improving the brand recognition through product promotion and multi-channel marketing in the next three years; 3) Approximately 10.0% (approximately HK$112.2 million) will be used for working capital and other general corporate purposes. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

JE Cleantech (JCSE) Announces Annual General Meeting Results

December 8, 2022

SINGAPORE, Dec 7, 2022 - (ACN Newswire via SEAPRWire.com) - JE Cleantech Holdings Limited (Nasdaq: JCSE), ("the Company") a Singapore-based cleantech company, today announced the results of the Company's Annual General Meeting of Shareholders (the "AGM") held on December 6, 2022, at the Company's offices located at 3 Woodlands Sector 1, Singapore 738361.Appointment of Board of DirectorsAt the AGM, the shareholders of the Company approved and ratified the appointment of Hong Bee Yin, Long Jia Kwang, Joanne Khoo Su Nee, Karmjit Singh, and Tay Jingyan, Gerald as members of the Board of Directors to serve for the ensuing year.Approval of Equity Incentive PlanAt the AGM, the Company's shareholders also approved a resolution to adopt the Company's 2022 Equity Incentive Plan.About JE Cleantech Holdings LimitedJE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i) the sale of cleaning systems and other equipment; and (ii) the provision of centralized dishwashing and ancillary services. Through its subsidiary, JCS-Echigo Pte Ltd, the company designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications primarily to customers in Singapore and Malaysia. Its cleaning systems are mainly designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide range of frequencies, high pressure drying technology, high flow rate spray, and deionized water rinses, which are designed for effective removal of contaminants and to minimize particle generation and entrapment. The Company also has provided centralized dishwashing services, through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, both mainly for food and beverage establishments in Singapore. http://www.jecleantech.sg/Disclaimer: Forward looking statementsThis news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," "our strategy," or similar expressions. Forward-looking statements made in this press release that relate to our future contract revenues among other things involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update "forward-looking" statements.For Media Enquiries and Investor Relations, please contact:jcse@preciouscomms.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

JCN Newswire

MHI Publishes Integrated Report “MHI Report 2022”

November 30, 2022

TOKYO, Nov 30, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Heavy Industries, Ltd. (MHI) today published the "MHI Report 2022." The focus of this year's integrated report is on MHI Group's contributions to global Carbon Neutrality. In October 2021, MHI announced its commitment to achieve Carbon Neutrality Groupwide by 2040, and MHI Report 2022 presents detailed explanations of the efforts to fight against climate change by applying the full breadth of decarbonization technologies MHI Group has developed throughout its history.MHI REPORT 2022The report opens with a message from the President and CEO Seiji Izumisawa outlining MHI Group's value creation proposal. He introduces the standpoint behind the Company's "MISSION NET ZERO," its commitment to achieve net zero CO2 emissions Groupwide by 2040, and also presents a progress report on the Company's 2021 Medium-Term Business Plan as well as an overview of how MHI is responding to the rapid changes taking place in its business environment. This is followed by a message from Chief Financial Officer (CFO) Hisato Kozawa describing the Company's financial strategy for enhancing corporate value. Next is a conversation between Chief Technology Officer (CTO) Eisaku Ito and Toshihiko Hashida, former Director-General of the Japan Meteorological Agency (JMA). Mr. Ito describes the role MHI Group can play toward resolving issues relating to climate change, citing the Company's hydrogen technologies which are key to achieving a decarbonized world, especially its R&D of hydrogen gas turbines.The MHI Report 2022 also contains a special feature on various measures being implemented by MHI Group toward realizing a carbon neutral world. With graphs and illustrations, this article offers a detailed overview of specific measures the Company is taking to achieve "MISSION NET ZERO." Another article, contributed by Professor Nobuyuki Isagawa of the Graduate School of Management, Kyoto University, who specializes in corporate finance, addresses the relationship between Carbon Neutrality and corporate value. He describes the significance of MHI Group's efforts in this area from the standpoint of his research into the relationship between a company's ESG (environment, social and governance) indicators and financial performance. Concerning the Company's business strategies, measures derived based on the latest SWOT analysis(1) are presented for the following business domains: Energy Systems; Plants & Infrastructure Systems; Logistics, Thermal & Drive Systems; Commercial Aviation, Integrated Defense & Space Systems.The second half of this year's integrated report contains explanations of the Company's basic approach to and execution of corporate governance, its officers' remuneration structure, the current status of its reduction in strategic shareholdings, and the major risks recognized by management and their corresponding responses. Also featured is a conversation with the Chairman of the Board Shunichi Miyanaga and two outside directors: Masako Ii and Hiroo Unoura. They discuss how Board of Directors meetings support the Company's sustainability management and exchange views on how corporate governance is carried out at MHI, with a focus on the role of Board of Directors meetings in addressing major social issues such as Carbon Neutrality.Other items included in MHI Report 2022 introduce the Company's sustainability management policy and promotion system, initiatives being taken to address human rights issues, Company-wide materiality goals and KPIs to respond to the SDGs(2), and MHI's response to risks and opportunities arising from climate change (disclosure in accordance with TCFD(3) recommendations). Presentations are also given of what the Company is doing to respond to heightened social demands pertaining to compliance and cybersecurity.Going forward, MHI Group will continue issuing annual integrated reports outlining how the Company is contributing to resolving social issues as it simultaneously pursues sustainable business growth and ongoing enhancement of its corporate value, presented with a careful balance of financial and non-financial information and in a format enabling easy understanding by shareholders, investors and all other stakeholders.(1) SWOT is an analysis technique employed for formulating management strategies by assessing the external and internal environments using factor analysis in four categories (strengths, weaknesses, opportunities, threats), and then determining how to optimally utilize management resources to respond to changes in the business environment.(2) The SDGs are a set of "sustainable development goals" adopted by the United Nations General Assembly in September 2015 targeted for achievement by 2030. It consists of 17 categories incorporating a total of 169 targets.(3) TCFD: Task Force on Climate-related Financial Disclosures.About MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Transcenta Holding (06628): Product pipeline progressing well with significant competitive differentiation

September 1, 2022

HONG KONG, Sep 1, 2022 - (ACN Newswire via SEAPRWire.com) - As pharmaceutical reformation is underway, the importance of the innovative strength of biotech companies has become increasingly prominent, the entire industry has also formed a completely different pattern from ten years ago. Today, differentiation has also become the general trend of the industry. Photo: Transcenta's Pipeline, Source: Company websitePhoto: Transcenta's ICB Platform, Source: Company websiteAs the interim results of Hong Kong companies have recently been announced, we might as well look for potential targets from the announcements that aim to differentiate themselves and truly bet on innovation. We found that Transcenta Holding (06628) might be worthy of attention. Transcenta has a strong focus on innovative research and development, well advanced in international clinical trials, while having multiple competitive advantages. Let's take a look at this Company. Dr. Caroline Germa, Transcenta's new CMO, accelerates the development of differentiated pipelinesThe core of differentiation in the industry is First-in-class and Best-in-class. In terms of pipelines, Transcenta has injected significant innovative attributes, developing the most innovative drugs such as FIC/BIC, highlighting the advantages of differentiated clinical strategy and development, which is expected to facilitate the pipeline product approval and commercialization and address the unmet medical needs.Moreover, it can also be seen from the clinical trial overview that Transcenta's new drug development is more oriented towards global strategy, targeting the interests of the global market, and basically the product canddiates of the Company are being developed in parallel in both China and the US. This advantage is also based on the fact that the Company has a very efficient team in bothUS and China, with a deep understanding of the industry, covering all aspects of discovery, research and clinical trial development and manufacturing.The majority of Transcenta's executives have a background of 15-20 years in leading pharmaceutical companies, with proven track record and a well-balanced combination of expertise spanning research, clinical development, manufacturing, strategic planning and financing. At the same time, the Company has a scientific advisory team of internationally renowned experts and industry elites. In the process of moving into the global "blue ocean", the Company is also gradually developing and growing, attracting more outstanding talents to join. Recently, the Company welcomed a new CMO, Dr. Caroline Germa, as the Company's Executive Vice President of Global Drug Development and Chief Medical Officer. As a leader in oncology and drug development, Dr. Germa has a high reputation in the industry, and her personal strength has been proven by many achievements. Dr. Germa has worked for AstraZeneca, Bristol-Myers Squibb (BMS), Novartis and several other internationally renowned pharmaceutical companies, and has accumulated considerable industrial experience, also involved in the development and research of a number of blockbuster drugs including Ribociclib and Neratinibfor breast cancer.Dr. Germa's joining Transcenta Holding will undoubtedly provide a great boost to the Company's innovative development. In the future, with her contacts in the pharmaceutical industry and her unique and profound understanding, she will better lead Transcenta's global expansion and make a significant contribution to enhancing the Company's shareholder value in the future. It is not difficult to find that the Company's team with high qualifications and deep background has laid a solid foundation for the global application and clinical development of its innovative pipeline molecules.At present, Transcenta has built a diversified and risk-balanced pipeline of antibodies with best-in-class or first-in class potential in therapeutic areas with high unmet medical needs, including oncology, kidney and bone diseases. Most of these molecules are discovered and developed in house. Specifically, the Company's oncology product pipeline targets major cancer pathways which have potential synergistic mechanisms of actions for tumor indications, which is precisely the most differentiated design of the Company's oncology pipelines. Moreover, the Company has developed non-oncology pipeline strategy, which plays in a field facing less competition and reach high market potentials.It is worth to mention that the drug discovery technology of Transcenta Group is particularly impressive. Based on the unique IMTB antibody discovery platform, the company has developed a number of antibodies targeting various pooled sites above a particular target, thereby expanding the selectivity of its drug candidates. The Company has generated and is developing oncology products such as TST001, TST005, TST003 and TST010 through the IMTB technology platform. In the future, more valuable innovative drugs will be discovered and filed for global registration, helping Transcenta Group to become a leading global biotechnology company.Rapidly advancing product pipeline, leading the world in clinical progressThe strength of Transcenta Holding is not only reflected in the layout and research and development of innovative drugs, but also in the Company's ability to execute and facilitate clinical trials. In the first half of 2022, the Company actively advanced its product pipeline and achieved remarkable results. In particular, the Company's flagship product, TST001, ranked second in the world in terms of clinical progress and will soon enter Phase III clinical trials.Claudin18.2 has relatively high expression in gastric cancer, pancreatic cancer, esophageal cancer and bile duct cancer, and TST001 has high biological activity, affinity and NK cell activity, and has ideal efficacy and safety. It has a considerable commercial application prospect. At the same time, the Company has also developed a specific antibody for companion diagnostics and will use this Claudin18.2 immunohistochemical assay to support international clinical trial registration. The Company is also well ahead of schedule and at the forefront of the world in this area.In developing TST001, Transcenta has, on the one hand, continued to explore multiple tumor types. On the other hand, the Company is also experimenting with TST001 combination regimens, and its clinical progress is likewise world-leading. Let's keep an eye on its mid-term phase 2 clinical data for TST001 and chemotherapy combination in frontline gastric cancer patients as the company disclosed it will be published soon in a major European clinical oncology conference. This could be important to understand the potential of TST001.Not only that, the Company's other pipelines are also progressing smoothly, including the bifunctional humanized antibody TST005 targeting both PD-1/PD-L1 and TGF-beta pathways, the candidate product TST002, a humanized sclerostin mAb for the treatment of osteoporosis, and a high affinity humanized monoclonal antibody TST003 (FIC) and TST004, a humanized MASP-2 mAb candidate for kidney diseases. It is worth mentioning that the Company's first-in-class targeting Gremlin1(TST003), a preclinical asset with antitumor activities in multiple difficult to treat tumor models were published in the international oncology authoritative journal "Nature Cancer". In addition, the Company has also developed a series of relatively early pipeline products, which further enriched the Company's product pipeline. As these candidate products gradually enter the clinic stages and are successively approved in the future, the Company's intrinsic value will gain more impetus.Actively promoting CDMO business to fully realise the source of income and reduce expenditureIn addition to product development, Transcenta Holding has also forward-looking in the layout of commercial production. It can be seen from the Company's results announcement that Transcenta has established a complete CMC and production platform, both for early cell line process development and GMP mass production systems, which are designed by the Company and met international standards.Transcenta Holding utilises a novel integrated continuous bioprocessing platform (ICB) for developing robust production processes, formulations and analytics, manufacturing drug products throughout product life cycle. The advantages of the Company's ICB platform are significant, as its capacity is more than 10 times higher than the traditional Fed-batch flow addition process, and its cost has been significantly reduced by almost 50%. In May 2022, Transcenta had successfully passed audit by the European Union Quality Person (QP). This combination of quality and cost advantages supports the clinical studies and registration of the Company's candidate products worldwide.In addition, Transcenta has leveraged its CMC capabilities and the potential value of its ICB platform to further expand its CDMO business. While the CDMO business has enabled the Company to achieve open source and cost savings, it has also attracted the attention of international high-quality partners by virtue of the high-quality industry reputation accumulated in the client, and further expands international cooperation. The Company has been developing and collaborating commercially with Merck for an industry-first disposable flow-through polishing system, and maintains a domestic leading position in the field of perfusion technology.SummaryAll in all, the interim results announcement of Transcenta Holding has many highlights and the Company's competitive advantages are distinct. Whether it is drug discovery, clinical development, or commercial production, it has strong strength in all aspects. We believe that with the successful development and commercialization of the Company's innovative and differentiated products, Transcenta will achieve leapfrog development and is worthy of long-term attention. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Newborn Town releases its 2022 Interim Results; Breakthrough in core social networking business, accelerated diversified growth

August 30, 2022

HONG KONG, Aug 30, 2022 - (ACN Newswire via SEAPRWire.com) - On August 25, Newborn Town Inc. (9911.HK) released its 2022 interim results. For the half ended June 30, the Company's total revenue reached RMB 1,374 million, up 32.3% YoY; adjusted EBITDA reached RMB 210 million, up 19.5% YoY; profit attributable to the owner of the Company reached RMB 83 million, up 121.3% YoY.The Company's successful model of social networking business continues to be replicated around the world. Its social networking revenue reached RMB 1,266 million, a growth of 52.4% YoY, indicating a steady breakthrough in the core business. At the same time, with the smooth progress of refined games, the Company's revenue from its innovative businesses totaled RMB 108 million, a rise of 91.7% compared to H2 2021, marking an accelerated diversified development.- 'Replication in Products' + 'Replication in Markets' showing social networking products spread globallyNewborn Town has long focused on global open social networking, and has built an audio and video social networking product matrix, including MICO, an open social platform, YoHo, an audio-based social product, and Yumy, a video-matching social product. As of June 30, the Company's social products had accumulated 419 million downloads. Average MAUs (monthly active users) in the second quarter reached 23.09 million, representing an increase of 27% YoY.With years of experience in exploring global markets as well as audio and video technology, Newborn Town has distilled a "replicable" model for its social networking business.In terms of the products, the Company has accumulated successful experiences and applied those to new products, so as to promote fast growth and to expand their commercialization space. For instance, launched last year, Yumy has seen gross profit and become one of the top 10 best-selling social networking apps in 50 countries/regions after continuous optimization of its business model. It is a typical case of "Replication in Products".In terms of markets, Newborn Town landed in new markets rapidly while consolidating its leading position in the markets where the Company has established a competitive edge. By now, YoHo, the product which started from the MENA region, has been successfully replicated in the market of pan-Southeast Asia. In the first half of the year, revenue from Non-MENA regions accounted for nearly 40% of YoHo's overall revenue, which proved significant to increase YoHo's revenue by more than 70% YoY.Through 'Replication in Products' + 'Replication in Markets', Newborn Town found equal success in replicating its proven model of a single product to multiple products, and its success in a single market to multiple markets. The Company will keep developing mega-apps to cover global markets in more directions to realize strong and promising growth.- Diversified growth accelerated as games show impressive monetization potentialIn addition to the social networking business, the Company also made important breakthroughs in its innovative businesses that consists mainly of games in the first half of the year. The loss from the game business has narrowed significantly, which was one of the major reasons for the doubled profit attributable to the owner of the Company.Specifically, products of the Company's Merge game series, "Mergeland - Animal Adventure" and "Mergeland - Alice's Adventure" were formally launched in April and June respectively. The series received rapidly increasing downloads and revenue after launch, and has become one of the top 10 best-sellers in the categories of puzzle and casual games in seven countries.Bubble Shooter Star, another refined game by Newborn Town, also has good performance as indicated by the figures (e.g.: retention on the 30th day is above 15%) after it was launched at the beginning of this year. The game has shown great monetization potential as at present, its monthly revenue has reached the USD 1 million level.In the second half of the year, further efforts will be made to promote the game experience, the user volume, and the monetization of the three games, so as to solidify the innovative businesses as a new point for growth. What's more, the Company's Metaverse layout has been further enriched. In the first half of the year, it built partnerships with leading virtual technology companies to explore the creation of digital virtual characters, the construction of virtual scenes, the empowerment of AI virtual technology and other aspects. It also invested in Shi Mi Network, a smart wearable devices manufacturer, to take the "portal" of the Metaverse and accelerate the deep integration of the Company's social products with the Metaverse.Big progresses of the innovative businesses have further accelerated the diversified growth of the Company, and the second growth curve is becoming clearer.- Consolidated advantages and extended borders to keep high-quality developmentThe Company's commitment to R&D is a precondition for its performance breakthroughs. In the first half of the year, the Company's R&D expenses were RMB 91 million, up 69.6% YoY. As of June 30, the Company's R&D team expanded by 30.6% compared with December 31 2021. At the same time, through continuous cost optimization efforts, the Company's selling and marketing expenses in the first half totaled RMB 199 million, down 31.8% YoY.On the other hand, the Company has persisted in localized operations to pursue Longtermism. It conducts in-depth operations and brand building efforts based on the understanding and respect of local cultures, and tries to integrate into the local industry and social development through industry media gathering and public welfare charities.In the first half of the year, MICO released a theme song MV for Thailand, which was created and performed by a well-known local band. The song has been played for more than 90 million times due to its lively style catering to the local youth. It became a hit on local social media in a short time and aroused a boom of dance imitations that made the relaxed and cheerful style of the Company's social products rooted in the hearts of local users.In the MENA market which the Company has deeply explored, Newborn Town, as a leading social networking company in the local market, held an industry media gathering of more than 20 local media. It helped the local market to establish a positive understanding about online social entertainment while promoting the development of the industry in the region.With the continuous increase of R&D investment and the further promotion of localized operation, the Company's technology and operation middle platforms have become increasingly mature. Jointly, these strengths favored the Company in promoting the rapid upgrading of its social products in terms of user experience, market expansion and content distribution, and further accelerating the development of its social networking business. In the future, Newborn Town will continue to enrich its product matrix, expand its market layout, optimize its operating efficiency, and explore diversified development opportunities to extend its boundaries. The Company will accelerate its progress towards the goal of "becoming the largest global open social networking platform". For further information, please contact:PEANUT MEDIA LIMITEDDirect Line: 0755-61619798+8210Email: hswh.project@czgmcn.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

CTG DUTY-FREE HK Public Offering Has Been Fully Applied with High Multiple Order Coverage From International Placing

August 18, 2022

HONG KONG, Aug 18, 2022 - (ACN Newswire via SEAPRWire.com) - On August 15, 2022, China Tourism Group Duty Free Corporation Limited ("CTG DUTY FREE") launched its global offering of H shares. CTG DUTY-FREE recently held its H-share global offering press conference in Beijing to officially launch its global offering on the Hong Kong Stock Exchange. Mr. Peng Hui, Chairman of the Board and Executive Director; Mr. Chen Guoqiang, Executive Director and General Manager; Mr. Wang Xuan, Executive Director and Standing Deputy General Manager; Mr. Chang Zhujun, Deputy General Manager, Secretary to the Board and Joint Company Secretary, and Mr. Yu Hui, General Accountant, attended the press conference and had communicated with reporters from domestic and international media.At the press conference, the representative of the Company's sponsors provided an overview of the global offering to the media. CTG DUTY-FREE plans to issue approximately 103 million H Shares under the stock code of 1880.HK. The offer price range is HK$143.5 to HK$165.5 per H Share, and the offering starts on August 15, 2022.The Company has successfully procured nine cornerstone investors, including China State-Owned Enterprise Mixed Ownership Reform Fund Co., Ltd., AMOREPACIFIC Group, COSCO Shipping (Hong Kong) Co., Limited, Rongshi International Holding Company Limited, Shanghai Airport Investment Corporation Limited, Luzhou Laojiao Co., Ltd., China Structural Reform Fund Corporation Limited, Hainan Free Trade Port Construction Investment Fund Co., Ltd., and The Oaktree Funds.The management of CTG DUTY-FREE stated that to consolidate its leading position as the world's largest travel retail operator, the Company will continue to build competitive barriers in its existing business and maintain its industry leadership through ongoing efforts to develop offshore duty-free business, expand traditional retail channels in China, and further develop high-quality duty-paid merchandise sales. The Company will actively expand new business and explore more profit growth opportunities, such as building more integrated travel retail complexes, opening downtown duty-free stores ahead of competitors, and exploring overseas channels. The Company will also reinforce its competitive advantages by deepening the relationship with upstream suppliers and domestic and overseas channels through the capital operation. For example, it will expand the upstream supply chain through direct cooperation with upstream brands or direct investment while seeking acquisition opportunities in domestic and overseas markets. The Company will further strengthen its core capabilities, including operation management, procurement capability, supply chain management (logistics and distribution system), information system management and digitalization and marketing capabilities to achieve continuous development. In addition, the Company will attract and retain top-notch strategic talents to preserve corporate human resources.Concerning the H-share offering, the Company's management also responded to the concerns of the media and investors.Regarding the possible positive influences of listing in Hong Kong, the management indicated that globalization is one of the key strategic goals for the Company's long-term development. Hong Kong features an open and mature capital market, which international investors have widely recognized for many years. The listing in Hong Kong will bring three benefits to the Company. First, it will help further enhance the Company's brand influence and visibility in the international market and support the Company in consolidating its leadership as a global travel retail operator. Second, it will facilitate the Company's construction on both domestic and overseas financing platforms and promote its further development with support from domestic and overseas capitals. Third, it will build up the Company's capital barriers and enables the Company to allocate more funding to the construction of projects such as Haikou International Duty Free Complex, Site II, Phase I of Sanya International Duty Free Complex, and downtown duty free stores. Fourth, it will promote the Company's globalization and continuous expansion of overseas business.Regarding whether CTG DUTY-FREE will open stores in travel destinations for Chinese consumers, the Company mentioned that since its establishment in 1984, it had expanded its business operation around the changing consumer patterns and needs. An increasing number of Chinese people are travelling abroad, and Chinese tourists have become a significant consumer group in the global duty free and travel retail industry. Previously, the Company opened and operated nine overseas duty free stores following the footprints of Chinese tourists, all of which have achieved good results. Next, the Company will continue to open stores in popular destinations among Chinese travelers, its major consumer group, to enhance the Company's performance and generate better investment returns for shareholders.Concerning the impact of the recent COVID-19 pandemic in Hainan province on CTG DUTY-FREE, the Company commented that the influence was only an effect and will not have a more significant effect on the Company's operation in the mid to long term. From 2021 and March to May 2022, Hainan and Shanghai have suffered from COVID-19 resurgence one after another. In the face of challenges, the Company made comprehensive efforts offline and online to ensure a stable business operation. Specifically, the overall passenger foot traffic in Hainan Province in 2021 was only 97.4% of the pre-pandemic level. Still, the Company generated revenue of RMB47.1 billion in Hainan, 3.5 times the corresponding revenue in 2019. In addition, from March to May 2022, the Company's operations were impacted by the epidemic to a certain extent, but the Company's operations have recovered rapidly since late May. Since June, the Company's monthly sales have improved significantly, and the revenue in June increased 13% year-on-year. Moreover, in the first half of 2022, the gross margin of the Company's core business improved by 5.5 percentage points compared with the second half of 2021 and remained stable. Looking ahead to the second half of this year and afterward, the Company is expected to successfully launch several new projects, including Haikou International Duty Free Complex and Site II, Phase I of Sanya International Duty Free Complex, which will assist the Company's business expansion. Moreover, for the mid and long term, the Company has already made a full deployment in downtown stores and port stores, which will also contribute to the Company's revenue growth in the future.The Hong Kong Public Offering was closed at noon on 18 August 2022. It is said that the Hong Kong Public Offering has been fully applied, and the reactions from both retail investors and margin are positive. It is also said that the Company's international placing was fully covered within an hour after the opening of the book building last Friday. Prior to that, best-known international and Chinese institutions have actively placed orders to participate in the Company's global offering of H shares. The information said a high multiple order coverage was achieved within two days. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)