Anthony Scaramucci and Blockchain Founders Fund Lead TDMM’s Strategic Round, Setting Stage for $75 Million Round

Delhi, India, June 26, 2024 – (ACN Newswire) – TradeDog Market Management (TDMM), a global leader in crypto trading with over $10 billion in trading volume, has secured investment from prominent venture capital firm Blockchain Founders Fund (BFF) and renowned Wall Street investor Anthony Scaramucci. This joint investment signifies the collective confidence in TDMM’s innovative approach to crypto trading and its potential to become a major player in the global crypto space.

TradeDog Market Manager (TDMM) announces its seed round fundraiser after successfully closing a strategic round for select VCs with a large Token portfolio led by Blockchain Founders Fund (BFF) and Anthony Scaramucci, SkyBridge Capital.

Key Highlights

TDMM’s pioneering institutional-grade crypto trading solutions now have a powerful validation for institutional investors and their existing clients.
This strategic investment fuels TDMM’s ambitious growth and investment plans. The capital influx will be instrumental in securing strategic investments in Token Startups and Enterprises.
The partnership with BFF and Mr Scaramucci grants TDMM access to invaluable expertise and a vast network within the blockchain industry and traditional finance.

TDMM is a leading crypto market-making solutions provider, offering comprehensive yield and exit management services to institutional clients worldwide and liquidity, treasury, and inventory management to token companies. It is integrated with 60+ CEXs and DEXs and manages 100+ assets across 300+ pairs.

“At TDMM, we see our partnership not just as an investment, but as a shared vision for the future of crypto trading,” said Saqr Ereiqat, CEO of TDMM. “We are committed to redefining Token Market Making (MM) by engaging transparently with our clients, providing sophisticated financial services, and the execution, a token needs to thrive and succeed. Together, we aim to revolutionize the landscape of MM and set the golden standard of collaboration and mutual success.”

Ateeq Farooqui, Head of Trading and Co-Founder of TradeDog Group responded, “Gaurav and I started aggressive crypto trading alongside our mining operations in 2015 to mitigate our risk around the mined Coins. We’ve come a long way from there and we are working towards onboarding large institutional capital through our extensive suite of services.”

BFF is a prominent venture capital powerhouse that invests globally in top-tier, early-stage blockchain startups at the seed and pre-seed stages. The fund leverages its extensive industry knowledge and network to empower these companies and drive innovation within the blockchain space. BFF extends beyond traditional financial backing and cultivates a collaborative partnership with its portfolio companies, providing access to a curated network of leading figures in cryptocurrency and traditional finance sectors.

“TDMM is at the forefront of revolutionizing crypto trading with their pioneering solutions. Our investment in TDMM is a testament to our belief in their vision and capabilities. We are excited to support TDMM as they set new industry standards and drive the future of institutional engagement in the digital asset market.” – Aly Madhavji, Managing Partner, Blockchain Founders Fund.

Skybridge Capital is a Multi-Billion Dollar Alternative Investment Fund founded by Anthony Scaramucci, an Investor at Blackrock’s Bitcoin ETF, iShares. He also founded SALT, one of the world’s largest conferences for Fund Allocators and managers. ‘The Mooch’ is a seasoned investor and astute market observer with a blockchain vision. He brings a wealth of experience and a vast network crucial in capitalizing on emerging opportunities with the Institutional Financial world looking to invest in Web3.

As digital assets reshape the global financial markets, TDMM embarks on this new chapter, facilitated by Anthony Scaramucci’s acumen and BFF’s unparalleled experience, to scale new heights and position itself for continued success in the digital asset sector.

About TDMM

TDMM is an established crypto trading firm with solid traction and a thriving ecosystem from TradeDog Group. The company builds scalable liquidity on digital assets, generating over $5 billion in trading volume. With a team of 30+ professionals across 20+ countries, TDMM serves 40+ clients across Defi, GameFi, and Infrastructure.

About Blockchain Founders Fund (BFF)

Blockchain Founders Fund is a leading early-stage (seed and pre-seed) Web3 Venture Capital fund that invests in top-tier founders globally. Its backers include a strategic mix of the leading crypto and traditional finance firms.

BFF invests in highly promising startups, focusing on go-to-market strategies and taking a hands-on approach to driving value. BFF helps curate strategic partnerships, hire talent, accelerate growth, and ensure portfolio founders are well-capitalized. Their team comprises builders and operators who have scaled many leading Blockchain startups and are on a mission to support all-star teams shaping the Web3 industry.

About Anthony Scaramucci

Anthony Scaramucci, a luminary in investment circles, brings a wealth of experience in traditional finance and the burgeoning blockchain sector. Anthony is a prominent figure in the investment community and is mainly known for his strategic blockchain investments. His firm is at the forefront of incorporating blockchain technology into traditional finance, managing a diverse portfolio of digital assets.

Media contact:
Plato Data Intelligence
Zephyr@platodata.io

Dynasty’s Annual General Meeting is Successfully Concluded

HONG KONG, June 26, 2024 – (ACN Newswire) – Dynasty Fine Wines Group Limited (“Dynasty” or “the Group”) (Stock Code: 00828), a leading winemaker in China, today held its annual general meeting, at which all resolutions were approved, fully demonstrating the shareholders’ recognition and support for Dynasty’s business operations and development prospects. In addition, Dynasty launched its new product, Heritage Series “Passing on the Glory, Continuing the Brilliant Heritage”, in March this year, and opened the Dynasty Starry Wine Bar in June this year. Through innovation in product and consumption scenarios, the Group continues to enhance its product and brand influence.

As a premium wine producer in China, Dynasty has developed a diversified product portfolio over the years. At present, it produces more than 100 wine products, which have been widely recognized by the market. Based on its existing high-quality products, Dynasty continues to introduce new products and promote product upgrades. It launched a new product, Heritage Series “Passing on the Glory, Continuing the Brilliant Heritage”, at the 110th China Food & Drinks Fair in March this year to further improve its product matrix and provide consumers with diverse consumption choices.

In addition to enriching the product matrix, Dynasty is accelerating the innovation of consumption scenarios and enhancing and strengthening the wine cultural experience. In June of this year, Dynasty Starry Wine Bar was officially opened in Meijiang, Tianjin, the base of Dynasty. Starry Wine Bar is an offline bar meticulously designed by Dynasty to innovate the product experience, meet the diversified needs of consumers, and create new consumption scenarios in the country. It is committed to making consumers feel the warmth of the brand, recognize the value of the brand, and attract more consumers through innovation.

Mr. Wan Shoupeng, Chairman of Dynasty, said in the annual general meeting, “Dynasty has always diversified its wine products to meet the different needs and preferences of various consumer groups. Dynasty will continue to focus on market and consumer demand and promote product quality through technological innovation. At the same time, the Group will continue to innovate marketing strategies to stimulate brand vitality, further expand the market share of Dynasty’s products, consolidate Dynasty’s brand image as a representative of domestic wines, and set a benchmark for the Chinese wine industry so as to create greater value and returns for shareholders and customers.”

About Dynasty Fine Wines Group Limited

Dynasty Fine Wines Group Limited was listed on the Main Board of The Stock Exchange of Hong Kong Limited with the stock code 00828 on 26 January 2005. Founded in 1980, Dynasty is the premier grape winemaker in China. It is principally engaged in the production and sale of grape wine products under its reputable “Dynasty” brand. Dynasty is the first Sino-foreign joint venture wine company in China with Tianjin Food Group Limited and the French grape wine giant, Remy Cointreau, as its current major shareholders. The Group produces and sells more than 100 grape wine product series, and introduces imported wine products, providing high-quality and value-for-money grape wines to the full range of consumer groups in China.

AEON Credit Announces 1QFY2024/25 Results

HONG KONG, June 26, 2024 – (ACN Newswire) – AEON Credit Service (Asia) Company Limited (“AEON Credit” or the “Group”; Stock Code: 00900) today announced its results for the three months ended 31st May 2024 (“1QFY2024/25” or the “Reporting Period”).

During the Reporting Period, the Group’s revenue rose 12.3% year-on-year to HK$426.5 million, as its revolving credit card and personal loan receivables balances continued to increase. With the cost-to-income ratio improving to 47.3% from 50.0%, operating profit before impairment losses and impairment allowances climbed 19.4% to HK$211.3 million. Profit after tax was HK$83.3 million (1QFY2023/24: HK$97.0 million), with earnings per share at 19.88 HK cents (1QFY2023/24: 23.16 HK cents). The drop in profit after tax was attributable to an increase in impairment losses and impairment allowances amid the prolonged effect of the deterioration in the capital market and slow recovery in inbound tourism.

As the Group continued to use targeted marketing and successful marketing promotions to boost sales and receivables growth momentum, total sales in 1QFY2024/25 increased by 10.7% as compared with the first quarter of the previous year (“1QFY2023/24”), and the gross advances and receivables balance increased by 1.1% as compared with the end of February 2024.

Looking ahead, the Group will place greater emphasis on making the best use of both mobile application and traditional marketing channels to promote its credit card and personal loan products, and introduce unique features in the “AEON HK” mobile application (the “Mobile App”) to enrich the customer experience and capture the growing demand for contactless mobile payment services. The launch of the virtual card function in the Mobile App in the second quarter will provide customers with an instant purchase experience right after card approval and activation, without the need to visit a branch.

In face of a challenging credit environment amid high interest rates, the Group will continue to increase its receivables while closely monitoring the effectiveness of credit assessment and credit management improvement, as well as to achieve better maturity matching requirements, so as to minimize credit and liquidity risk.

In terms of digitalization of operations, the Group has completed the upgrade of its credit application processing platform and will further enhance its call centre platform and provide prompt interaction with its customers. In addition, data analytics tools will continue to be enhanced to improve the effectiveness of the Group’s marketing, credit assessment and credit management activities.

Mr. Wei Aiguo, Managing Director of AEON Credit, said, “We are glad to have continued to drive our business forward in the first quarter of FY2024/25 despite an uncertain and challenging market environment. We will continue to devote resources to provide exceptional consumer finance services to meet the evolving needs of our customers and to expand our customer base with more innovative and customized products. With the Group’s strong liquidity position and balance sheet and proven management capabilities, we are well positioned to take advantage of the opportunities in the recovering consumer finance market to attain rebound growth in the remainder of the year.”

About AEON Credit Service (Asia) Company Limited (Stock Code: 00900)

AEON Credit Service (Asia) Company Limited, a subsidiary of AEON Financial Service Co., Ltd. (TSE: 8570) and a member of the AEON Group, was set up in 1987 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in 1995. The Group is principally engaged in the consumer finance business, which includes the issuance of credit cards and the provision of personal loan financing, card payment processing services, insurance agency and brokerage business in Hong Kong and microfinance business in Mainland China.

For more information, please visit the company’s website at www.aeon.com.hk.

$220 Million Worth of Invoices Tokenized as RWAs on ICP Through InvoiceMate

DUBAI, UAE, June 26, 2024 – (ACN Newswire) – The Internet Computer (ICP) blockchain has successfully tokenized more than $220 million worth of invoices in collaboration with InvoiceMate, a leading platform for invoice tokenization recognized by Deloitte. This achievement marks a significant advancement in decentralized finance (DeFi) and highlights the transformative potential of ICP’s blockchain technology in real-world assets (RWAs).

ICP’s decentralized network, known for its scalability, security, and interoperability, is the key driver of its success. Its innovative architecture provides an ideal ecosystem for the tokenization of real-world assets, revolutionizing traditional finance. Over 1,850 businesses have benefited, with more than 101,000 invoices tokenized, demonstrating ICP’s capacity to handle large-scale financial processes efficiently and securely.

InvoiceMate, in partnership with ICP, transforms traditional invoices into digital assets, empowering SMEs globally. “InvoiceMate is proud to collaborate with ICP in tokenizing over $220 million worth of invoices,” said Muhammad Ibrahim, head of Web3 and innovation at InvoiceMate. “This milestone underscores our commitment to driving innovation in finance and empowering businesses of all sizes.”

Supported by the Dfinity Foundation, ICP is a decentralized network protocol that revolutionizes the internet by providing a scalable, secure, and interoperable platform for blockchain-based applications. Its architecture allows for the seamless tokenization of real-world assets, unlocking new possibilities for DeFi and financial inclusion.

About InvoiceMate

InvoiceMate is the decentralized infrastructure for invoice financing that connects conventional businesses with Web3 investors via invoices as RWAs. With a focus on innovation and transparency, InvoiceMate leverages blockchain technology to revolutionize traditional finance and drive sustainable growth for SMEs worldwide. For more information, visit invoicemate.tech.

For media inquiries, please contact:
Muhammad Salman Anjum
salman@invoicemate.tech

Grand Ming Group Holdings Limited Announces Annual Results for the Year Ended 31 March 2024

Highlights
– Revenue amounted to HK$532.7 million, a decrease of 89.4% from the previous financial year.
– Net profit for the year was HK$298.5 million, representing a decrease of 76.6%.
– Strive to develop the two new data centres in Fanling.
– Continue to sell the remaining units of The Grand Marine and Cristallo.

HONG KONG, June 26, 2024 – (ACN Newswire) – Grand Ming Group Holdings Limited (the “Company” and together with its subsidiaries, the “Group”, stock code: 1271.HK) today announces its annual results for the year ended 31 March 2024 (“FY 2023/24”).

In FY 2023/24, consolidated revenue amounted to HK$532.7 million (FY 2023/24: HK$5,004.6 million), representing a decline of 89.4% as compared to FY 2023/24. The consolidated gross profit also decreased 91.5% to HK$168.6 million (FY 2023/24: HK$1,987.8 million). These are primarily due to a substantial decrease in the number of properties sold from property development projects during the year under review. Net profit for FY 2023/24 decreased by 76.6% to HK$298.5 million (FY 2023/24: HK$1,275.5 million). Excluding the change in fair value of investment properties, the Group recorded an underlying loss of HK$85.7 million in FY 2023/24, as compared to an underlying profit of HK$1,299.3 million in FY 2023/24.

A final dividend for the year ended 31 March 2023 of 5.0 HK cents per share and a special dividend of 15.0 HK cents per share were paid to the shareholders of the Company on 18 September 2023. An interim dividend for the six months ended 30 September 2023 of 4.0 HK cents per share was paid to Shareholders on 20 December 2023. With challenging market landscape, the Board does not recommend payment of a final dividend for the year ended 31 March 2024.

The Group has demonstrated a high level of expertise in initiating and executing property development projects. At present, the Group’s property development projects for sale include “The Grand Marine” at No.18 Sai Shan Road, Tsing Yi, and “Cristallo” at No. 279 Prince’s Edward Road West.

The residential development project “The Grand Marine” is located at No. 18 Sai Shan Road, Tsing Yi, the New Territories. It offers 776 units with a total gross floor area of approximately 400,000 square feet. This project has been well received by the market, with over 98% of the units sold cumulatively.

The residential-cum-commercial development project “The Grands”, located at No. 45 Pau Chung Street, To Kwa Wan, Kowloon, provides 76 residential units with commercial shops on the ground and first floor covering a total gross floor area of approximately 31,000 square feet. This project was also well received and all residential units had been sold. Around 31% of the units were handed over to the buyers during FY 2023/24.

The Group continued to execute its two property development projects includes a site located at No.1 Luen Fat Street, Fanling and No. 66 Fort Street and No. 57 Kin Wah Street, North Point respectively.

The site situated at No.1 Luen Fat Street, Fanling, the New Territories, is developing into a 17-storey residential-cum-commercial tower with a total gross floor area of approximately 36,000 square feet. The Group had agreed to the provisional basic terms of the proposed in-situ land exchange and is currently negotiating the land premium with the Hong Kong Government. Meanwhile superstructure works is underway and the development is scheduled to be completed in or around mid-2025.

The project in North Point comprises two sites at No. 66 Fort Street and No. 57 Kin Wah Street, North Point, Hong Kong, with a total gross floor area of approximately 30,000 square feet. The site at No. 57 Kin Wah Street will be developed into a 27-storey residential tower, while the site at No. 66 Fort Street will be developed into a single-storey commercial shop. Foundation works are underway and the project is expected to be completed in or around the second half of 2027.

The balanced portfolio development initiative also includes geographical footprint expansion. The Group’s development project in Mainland China is located in the Guangxi-ASEAN Economic and Technological Development Zone, Wuming District, Nanning City, Guangxi Province, with a gross floor area of approximately 1,435,000 square feet. It will be a luxury residential project with a leisure and healthy lifestyle theme, comprising high-rise apartments and villas, complemented by facilities including commercial and a wellness centre. It will target at the elderly, retirees and their families. Superstructure works for the high-rise apartments and basement works for the remaining part of the site are now underway. The development is expected to be completed in or around the second half of 2026.

The Group currently owns two data centres, iTech Tower 1 and iTech Tower 2. Revenue from its leasing business increased by 14.4% year on year to HK$268.8 million. This was mainly due to an overall increase in the amount of space occupied and increased power consumption by customers.

The projects at No. 3 On Kui Street and No. 8 On Chuen Street in Fanling, New Territories are now known as “iTech Tower 3.1” and “iTech Tower 3.2” respectively, with an aggregate gross floor area of approximately 186,000 square feet. The land swap for both sites has been completed and the land premium has been fully settled.

The infrastructure and power supply of both iTech Tower 3.1 and 3.2 are designed to accommodate cloud computing and AI workloads. The superstructure of iTech Tower 3.1 has been completed and the installation of electrical and mechanical equipment and internal fit-out is now underway. During the year, this data centre was committed to a single customer under a long-term contract and is scheduled for phased delivery from mid-2025. Foundation work for iTech Tower 3.2 is well underway and the development is expected to be completed in or around 2026.

Mr. Chan Hung Ming, Chairman and Executive Director of Grand Ming Group Holdings concluded, “Our successful business evolution and transformation into a property development company gives us the confidence to address macro trends and market dynamics in a challenging economic environment. Our balanced operating and property portfolio, demand-driven development pipeline, committed management and continuous evolutionary mindset position us well to weather the current volatility while staying the course to drive future growth and value creation.”

“We continue to operate in a challenging environment in the reporting year. The uncertain economic outlook and persistently high interest rates have slowed the recovery of the local economy and property market. On 28 February 2024, the Hong Kong government announced the cancellation of all demand-side management measures for residential property, the suspension of the mortgage stress test and the relaxation of the mortgage loan-to-value ratio. All these measures improved market sentiment and led to an increase in the volume of residential property transactions. Seizing this opportunity, we successfully sold all the units of ‘The Grands’ and most of the remaining units of ‘The Grand Marine’. The proceeds from the property sales were used to replenish the Group’s working capital and to repay existing bank loans. We will continue to sell the remaining units of ‘The Grand Marine’ and ‘Cristallo’. Development of iTech Tower 3.1 and 3.2 is on schedule. We are committed to meeting our customers’ stringent requirements and delivering iTech Tower 3.1 on time. Meanwhile, we are working to secure customers for iTech Tower 3.2. We continue to improve and upgrade the existing facilities at iTech Tower 1 and 2 to provide reliable services and meet customer needs. As construction labour and material costs remain high, our construction team will focus on internal construction projects for our data centre leasing and property development segment.”

About Grand Ming Group Holdings Limited (Stock code: 1271.HK)

The Group is principally engaged in the business of property development and property leasing, as well as building construction. As a local wholesale co-location provider of high-tier data centres, the Group is one of the dedicated service providers in Hong Kong which owns and uses the entire building for leasing to customers for data centre use. Its clientele includes multinational data centre operator, telecommunications company and financial institutions. The Group owns two high-tier data centre buildings, namely iTech Tower 1 and iTech Tower 2. It also acquired two pieces of land in Fanling, the New Territories for developing into two high-tier data centres which have been named as iTech Tower 3.1 and 3.2. Furthermore, the Group’s property development projects for sale include “The Grand Marine” at No.18 Sai Shan Road, Tsing Yi, “The Grands” at No. 45 Pau Chung Street, To Kwa Wan and “Cristallo” at No. 279 Prince’s Edward Road West. Besides, property development in progress includes a site located at No.1 Luen Fat Street, Fanling and a site located at No. 66 Fort Street and No. 57 Kin Wah Street, North Point. In Mainland China the Group owns a piece of land at Guangxi-ASEAN Economic and Technological Development Zone, Wuming District, Nanning City, Guangxi Province for development into a luxury residential project under the theme of leisure and healthy lifestyle.

Media Contacts:
Angel Yeung | Jovian Communications Ltd | Email: news@joviancomm.com

ONERHT Foundation’s 7th GAIL Forum highlights urgent need to incorporate sustainability into everyday practices and company culture

SINGAPORE, June 26, 2024 – (ACN Newswire) – ONERHT Foundation Ltd (“Foundation”), the corporate social responsibility vehicle of RHTLaw Asia LLP and the RHT Group of Companies (collectively, “ONERHT”), successfully concluded the 7th edition of its Greening ASEAN: Initiatives & Leadership (GAIL) forum on 25th June 2024, held at the Suntec Singapore Convention & Exhibition Centre.

Guest-of-Honour Mr Chee Hong Tat, Minister for Transport and Second Minister for Finance, and Ms Kaylee Kwok, Chairman of ONERHT Foundation at the ONERHT Foundation GAIL Forum 2024 [L-R]

Guest-of-Honour Mr Chee Hong Tat, Minister for Transport and Second Minister for Finance, delivered the opening remarks, emphasising the need to develop innovative solutions and new technologies to ensure that the green transition costs remain affordable.

This year’s event brought together over 120 attendees, including business and industry leaders and sustainability domain experts, providing a platform for sharing expertise, experience and practical strategies.

Kaylee Kwok, Chairman of ONERHT Foundation, said, “At GAIL 2024, we witnessed the power of collaboration and innovation in driving sustainable development across ASEAN. ONERHT Foundation is proud to facilitate these important discussions and support initiatives empowering businesses and communities to embrace sustainable practices for a greener future.”

Expert panellists discussed key sessions that equipped SMEs with strategies to embed sustainability into operations while adapting to new reporting standards like International Sustainability Standards Board (ISSB), explored effective business strategies for navigating the carbon economy with tips on carbon measurement and management, and showcased how Singapore is leveraging AI and data capabilities to pioneer transformative sustainability solutions across industries, from emissions tracking to resource optimisation.

Abe Jacob, Director of RHT Green, said, “This year’s GAIL forum has highlighted the critical need for businesses to integrate sustainability at every level. The discussions on future-proofing SMEs, navigating the carbon economy, and harnessing AI for sustainability were particularly inspiring. Our collective efforts can lead to meaningful change, and I am more optimistic than ever about our ability to build a sustainable future together.”

The GAIL forum, initiated by ONERHT Foundation in 2018, aims to gather relevant expertise, knowledge and practical measures to enable businesses and other stakeholders in ASEAN to respond to the region’s growing call for sustainable development.

With the support of its donors and sponsors, ONERHT Foundation has raised more than S$5 million for over 35 charitable organisations since its inception in 2015. ONERHT, a multidisciplinary network of professional and specialist services, which includes sustainability consultancy RHT Green, remains committed to achieving its net zero carbon goal by 2030.

ONERHT Foundation Ltd

A Singapore registered charity and grant-making philanthropic organisation, ONERHT Foundation Ltd (“Foundation”) enables RHTLaw Asia LLP and the RHT Group of Companies (collectively, “ONERHT”) to do right and do good through various charitable endeavours.

Set up by ONERHT in 2015, the Foundation was registered as a Singapore charity by the Commissioner of Charities and a grant-making philanthropic organisation by the Inland Revenue Authority of Singapore on 16 September 2016 and 28 November 2016 respectively.

The Foundation seeks to establish, inspire and encourage the right philanthropic culture among the corporate and legal fraternity of giving back to the community in a focused, hands-on and meaningful manner. Since its inception, the Foundation has raised more than S$5 million to support more than 30 beneficiaries involved in education, the environment and sustainability, disadvantaged groups as well as the arts and sports.

For more information, please visit www.onerht.foundation

For media enquiries, please contact:
Elliot Siow / Elliot@waterbrooks.com.sg / +65 8375 0417

Kitabisa achieves a 33% boost in Transactions per user and Increase in User-stickiness with CleverTap

San Francisco, Calif, & Mumbai, India, June 26, 2024 – (ACN Newswire) – Kitabisa, Indonesia’s leading donation platform, chooses CleverTap, the all-in-one engagement platform, to boost app stickiness and click-through rates for push notifications. Kitabisa was able to deliver data-driven, personalized interactions on their platform which led to notable improvements in donations per user.

Set up in 2013, Kitabisa is Indonesia’s leading donation platform and facilitates over 10+ million donors, 1,000,000+ campaigns, 3,500+ NGOs and social institutions, and 400+ CSR initiatives. By deploying CleverTap’s platform, Kitabisa aimed to improve engagement, better segment their users, and understand donors’ specific behaviors and preferences on the app. With CleverTap, Kitabisa was able to automate user segmentation, create personalized user journeys and push-notifications, and further its mission of encouraging more frequent and impactful donations.

Impact of this collaboration:

33% increase in the median number of donations per user
10% increase in average click-through rate for push notifications and in-app notifications
5% increase in user stickiness (daily average users/monthly average users)

Denny Yusuf, Product Lead at Kitabisa, said – “CleverTap has been instrumental in helping us achieve remarkable growth in user engagement and donations. The 33% increase in the number of donations per user is a testament to how effectively CleverTap has enabled us to take an integrated approach to tracking user interactions and tapping into insights to better understand user behavior. This equips us to deliver highly relevant communication across various channels based on user preferences. Furthermore, with CleverTap’s intent-based segmentation, we are able to predict future intent and tailor our communication strategies to suit the specific needs of our users. This has been instrumental in fostering a more engaged and loyal user base.”

Sidharth Pisharoti, Chief Revenue Officer, CleverTap said – “We are honored to have been a part of Kitabisa’s journey and efforts to raise more funds to support various causes in Indonesia. In today’s competitive world, leveraging data-driven insights is crucial for marketers to craft and deliver tailored messages that build lasting relationships with users. With CleverTap, Kitabisa has been able to craft more personalized communication strategies and increase donations from their users. We look forward to continuing our support for Kitabisa as they expand their impact and build a loyal user base.”

About CleverTap

CleverTap is the all-in-one engagement platform that helps brands unlock limitless customer lifetime value by helping them create personalized experiences to retain their most valuable customers. The platform empowers businesses to orchestrate experiences for individuals across their lifecycles and design personalized journeys that span a lifetime. It offers analytics that encompasses every aspect of the lifecycle, enabling businesses to measure and optimize each experience in real-time. Its unique AI capability is insightful, empathetic, and prescriptive, facilitating smarter and faster decisions. The all-in-one platform unifies experiences from every touchpoint, paving the way for a new era of customer engagement.

The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering both speed and economies of scale.

CleverTap is trusted by 2000 customers, including Electronic Arts, TiltingPoint, Gamebasics, Big Fish, MobilityWare, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco.

Backed by leading investors such as Peak XV Partners, Tiger Global, Accel, CDPQ, and 360 One, the company is headquartered in San Francisco, California, with presence in New York, São Paulo, Bogota, Mexico City, London, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Delhi, Singapore, Jakarta, and Ho Chi Minh.

For more information, visit clevertap.com or follow us on:
LinkedIn: https://www.linkedin.com/company/clevertap/
X: https://twitter.com/CleverTap

Forward-Looking Statements

Some of the statements in this press release may represent CleverTap’s belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.

Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.

For more information:
SONY SHETTY
Director, Public Relations, CleverTap
+91 9820900036
sony@clevertap.com

IPSHITA BALU
Consultant
Archetype
+91 9590111798
ipshita.balu@archetype.co

Expert Systems Announces FY24 Annual Results

HONG KONG, June 26, 2024 – (ACN Newswire) – Expert Systems Holdings Limited (“Expert Systems” or the “Group”; Stock code: 8319), a leading technology and innovation company in the Asia Pacific region, announced the audited annual results of the Company and its subsidiaries (the “Group”) for the year ended 31 March 2024 (the “Reporting Year”).

During the Reporting Year, the Group’s revenue increased by 11.8% to approximately HK$991.0 million driven by the increase in customer demand. Gross profit amounted to HK$152.7 million, representing an year-on-year increase of 9.6%. Gross profit margin remained stable at approximately 15.4% (FY2023: 15.7%). Profit for the year of the Company recorded HK$17.1 million (FY2023: HK$22.7million), representing a decrease of approximately HK$5.6 million year-on-year. The main reason for this decline is that the Group did not receive any COVID-19 relevant government subsidies during the Reporting Year (Relevant government subsidies in FY2023: HK$5.7 million). In additional, we have increased the investment to our AI business in the Reporting Year.

The Board recommends a final dividend of HK0.82 cent (FY2023: HK1.00 cent) per ordinary share, resulting in a dividend payout ratio of 42.86%. The payment of the final dividend is subject to the approval of the shareholders at the forthcoming annual general meeting.

Mr. Andy Lau, CEO and Executive Director of Expert Systems, said: “Despite the challenging business environment, the Group has delivered a resilient performance in FY2024. Leveraging our strong foundation and exceptional products, solutions and services, we have adeptly navigated the dynamic market landscape. Throughout the past fiscal year, our two core businesses have exhibited steady growth, while our AI business has successfully launched new products, starting to contribute to our revenue.”

Business Review

IT Infrastructure Solutions

Regarding the IT infrastructure solutions business, the Group believes that enterprises and institutions will continue to adopt digital transformation to enhance operational efficiency, leading to a strong demand for IT-related one-stop solutions. Particularly, given the escalating cybersecurity incidents, the Group is committed to persistently deploying world-class cybersecurity solutions to safeguard the customers’ valuable IT assets. It is worth mentioning that the Group is customizing robust IT infrastructure tailored for our own developed Generative AI (“GenAI”) applications to meet customers’ diverse needs. To align with market trends and significant demand, the Group will prioritize resources in two key business opportunities of Cybersecurity and GenAI, and strive to provide higher value and more comprehensive total solutions to customers.

IT Infrastructure Management Services

The Group’s IT infrastructure management services business foresees sustained demand across the Asia-Pacific region. This includes IT outsourcing, helpdesk support, workflow automation services, and IT hardware maintenance for enterprises and institutions. The Group plans to extend its services into Managed Professional Service to further enhance its range of managed services offerings. This dedicated facility will leverage the existing resources of its service desk centres, enabling to extension of the managed services from endpoints and devices to encompass network systems and server host systems for valued customers.

The group currently operates service centers in Guangzhou and Kuala Lumpur. The services are provided in seven languages, handling over 60,000 cases per month. The Group plans to expand the capacity of the Guangzhou service desk center and relocate it to a new facility, creating a synergistic effect with the Kuala Lumpur service desk center. This will effectively balance resources across different regions and enhance the ability to provide flexible services to meet diverse customer needs.

AI Business

Regarding the AI business, the Group has successfully developed a range of GenAI products based on cloud and on-premises large language models for its corporate and institutional customers. The Group’s GenAI product series, namely ChatSeries, encompasses a variety of GenAI functions, including ChatEnquiry, ChatSerivceDesk and ChatMinutes etc. During the pre-launch stage of this product series, the group received a large number of inquiries reflecting a fervent market demand. In addition, the Group announced last year the establishment of the strategic partnership with Lenovo Hong Kong, with a specific focus on serving the primary and secondary school market. In fact, the Group has developed the SmartSeries product line, which includes SmartAqua, SmartRetail, and SmartHome, providing AI labs setups and relevent training courses tailored to primary and secondary schools. The group is currently collaborating with Lenovo Hong Kong to jointly market the SmartSeries AI products.

Mr. Lau, concluded: “Looking ahead, besides continue to grow our core businesses in providing one-stop IT solutions for the public and private sectors in the Asia-Pacific region, we will also continue to actively advance our AI products and solutions, aiming to bring strong growth momentum to the group. We are optimistic about the future, and we will eagerly to explore new growth opportunities with an open and innovative mindset, in order to achieve the company’s long-term sustainable development goals.”

About Expert Systems Holdings Limited (Stock code: 8319)

Established since 1985, Expert Systems Holdings Limited (“ESHL”) is a leading technology and innovation company which operates under the brands “Expert Systems”, “ServiceOne” and “Expert AI Enabling” with around 1,000 IT professionals serving small to large enterprises and institutions in the Asia Pacific region. For more information, please refer to ESHL’s website: https://www.expertsystems.com.hk/.

Media Enquiries:
Strategic Financial Relations Limited
Heidi So Tel: (852) 2864 4826 Email: heidi.so@sprg.com.hk
Rachel Ko Tel: (852) 2114 2370 Email: rachel.ko@sprg.com.hk
Maggie Ko Tel: (852) 2864 4890 Email: maggie.ko@sprg.com.hk
Website: www.sprg.com.hk

Ching Lee Holdings (3728.HK) Stays Resilient in Gross Profit with Stress from Rate Hikes and Staff Costs

HONG KONG, June 26, 2024 – (ACN Newswire) – Ching Lee Holdings Limited “Ching Lee” or “The Group” (Stock code 3728.HK) announced its annual results for the year ended 31 March 2024. The Group recorded nearly HK$900 million in revenue for the year, marking a significant year-on-year growth of 26.5%. Gross profit amounted to HK$77 million, representing an increase of 7.3% from the last year, and profit for the year was approximately HK$11 million.

Over the past year, Ching Lee successfully gained several contracts for various construction projects, with revenue from superstructure building works services significantly increasing from approximately HK$610 million last year to over HK$880 million this year. To cope with the added construction projects, the Group has strengthened its workforce team with new hires causing a higher cost of revenue, and the enhanced operations led to an increase in financing needs. A slight decrease in profit for the year was seen, attributable to a substantial increase in finance costs from continuing interest rate hikes.

Mr. Ng Choi Wah, Chairman of Ching Lee, stated, “We are pleased with the financial results for the year. The strong revenue growth demonstrates our robust market expansion and growth capabilities despite the lower net profit impacted by external challenges.”

Looking ahead, the Group will continue to focus on improving operational efficiency and strengthening cost control while actively seeking diversified construction projects. We believe that with the gradual recovery of Hong Kong’s economy and the ongoing development of the Greater Bay Area, along with the government’s various construction initiatives, the construction industry will be offered numerous new opportunities in the future.

Media enquiries:
New Smile Limited Strategic IR & PR Consultancy Telï¼š+852 2126 7076
Jenny Lai, jenny.lai@newsmilehk.com
Richard Wong, richard.wong@newsmilehk.com
Elina Zhang, elina.zhang@newsmilehk.com

Ching Lee Holdings Limited “Ching Lee” or “The Group”

Ching Lee Holdings Limited, a limited liability company incorporated under the laws of the Cayman Islands, is a contractor in Hong Kong with over 25 years of experience in public and private sectors. The principal activities of Ching Lee Holdings and its subsidiaries are the provision of construction and consultancy works and project management services in Hong Kong, engaged in providing substructure building works services, superstructure building works services, and repair, maintenance, alteration and addition (RMAA) works services. Ching Lee Holdings Limited was transferred from GEM board to the main board in HKEx on September 18, 2017 with stock code 3728.hk. Company website: http://www.chingleeholdings.com