JP Morgan, DBS and Others Recommend “Buy” Rating for Central China New Life as its Interim Results Exceed Market Expectations

HONG KONG, Sep 17, 2020 – (ACN Newswire) – Central China New Life Limited (stock code: 9983) recently released it interim results, which revealed substantial growth in net profit driven by the expansion of its business scale. Moreover, the ongoing growth of third-party properties under its management and rapid growth of the company's "Jianye+" platform have provided a sound foundation for further development of its business going forward. The strong performance which exceeded market expectation has subsequently earned "Buy" or "Overweight" ratings from various security houses, among which DBS has also significantly increased its target price, which was originally set at HK$10.40, to HK$12.56. Details are as follows:

Recommendation Target Price
DBS Buy HK$12.56 (Original Target: HK$10.40)
JP Morgan Overweight HK$13 (Maintain)
Haitong Outperform HK$15.9
CCBI Outperform HK$13.8 (Maintain)
BNP Paribas Buy HK$13.2
AMTD Buy HK$13.56
Guosheng Maintain Buy HK$14.3

Central China New Life's business consists of three major segments, namely, 1) property management and value-added services; 2) lifestyle services; and 3) commercial property management and consultation services. Despite the impact of the COVID-19 epidemic, the company's business growth has remained rapid. Furthermore, its income structure has been continuously optimized and its operating efficiency has been enhanced during the first half of 2020. During the period, the company's revenue increased by 56.1% to RMB1,061.2 million, as compared with the corresponding period of 2019. Profit attributable to shareholders of the company surged by 70.3% year-on-year to RMB183.8 million. Basic earnings per share amounted to RMB0.1870. To date, Bloomberg shows 11 out of 12 security houses covering Central China New Life give "buy" or equivalent ratings.

During the period, revenue from property management and value-added services jumped by 59.3% year-on-year to RMB843.8 million. The increase was mainly attributable to the growth in property management revenue resulting from an enlarged GFA under management. In addition, stronger business was seen in value-added services, such as sales agency and intelligent community which were able to generate greater revenue.

In the first half of 2020, the company implemented the "Large Regional Market Expansion" strategy. Correspondingly, its business focused on Henan and radiated to adjacent provinces. At the same time, it also expanded to include quality projects in other provinces in China, thereby steadily scaling upward its business. As at 30 June 2020, the GFA under management and contracted GFA reached 70.1 million sq. m. and 144.4 million sq. m. respectively, representing respective growth of 23.1% and 25.9% as compared with the end of 2019. During the period, new contracted GFA relating to Central China Real Estate increased by 16% H/H, while new contracted GFA from third parties increased by 41% H/H, which reflected the company's ability to obtain third-party contracts.

During the period, lifestyle services of Central China New Life have expanded rapidly and the coverage of the "Jianye+" platform has continued to grow. The company's revenue from lifestyle services grew by 51.6% year-on-year to RMB172.8 million. The upsurge was mainly attributable to the significant increase in registered users of its "Jianye+" platform, from approximately 1,547,700 as at the end of last year to approximately 2,805,500 as at the end of June this year, as well as a rise in consumption among registered users. The rapid growth of the "Jianye+" platform will provide further room for future development of the company's lifestyle services.

The company's commercial property management and consultation services consist of hotel management, commercial asset management and cultural tourism complex management. Revenue from this business segment has increased by 22.2% year-on-year to RMB44.6 million. The company's commercial property management business was launched in March 2019. Affected by the epidemic, the growth of cultural tourism businesses that are involved in such operations as hotels, tourism, commercial management and specially themed small towns have all faced relatively great pressure in general. Nevertheless, with the synergy achieved by leveraging the "Jianye+" platform, the company has still managed to develop new growth and profit drivers in this business segment.

Central China New Life will strengthen efforts to expand its property management business in the second half year by focusing on mergers and acquisitions. It will also focus on increasing investment in intelligent properties and integrating organizational management to reduce costs and increase efficiency. Since the company went public in May to raise funds, it has ample cash on hand, which will be conducive for executing its future merger and acquisition plans.



Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

CENTRESTAGE Virtual Runway Shows Begin Today

HONG KONG, Sep 17, 2020 – (ACN Newswire) – Organised by the Hong Kong Trade Development Council (HKTDC) and sponsored by Create Hong Kong (CreateHK) of the Government of the Hong Kong Special Administrative Region, the CENTRESTAGE virtual runway shows premiere today (17 September) and run through to Saturday (19 September). Combining traditional fashion shows with computer-generated imagery, these unique runway shows feature the latest collections from more than 40 Hong Kong and Asian designers.



The CENTRESTAGE virtual runway shows officially begin today. Combining traditional fashion shows with computer-generated imagery, these unique runway events feature collections from more than 40 Hong Kong and Asian designers.


Fashion Hong Kong spotlights eight homegrown designers that have taken part in New York or London Fashion Week events organised by the HKTDC, including Mountain Yam (brand: 112 mountainyam), Angus Tsui (brand: ANGUS TSUI), Bettie Jiang (brand: Bettie Haute Couture), design duo Jessica Lau and Walter Kong (brand: BLIND by JW), Doris Kath Chan (brand: DorisKath), Glori Tsui (brand: METHODOLOGY), Sun Lam (brand: SUN=SEN) and Yeung Chin (brand: YEUNG CHIN).


The "Next in Cheongsam" runway show features the latest collections from two designer brands, SPARKLE by Karen Chan – Modern Cheongsam and THE SPARKLE COLLECTION – Modern Couture to showcase the aesthetic of old Hong Kong.



Entering its fifth year, CENTRESTAGE presents "A World of PHYGITAL" as its central theme in 2020. In view of the uncertainties brought about by the COVID-19 pandemic, CENTRESTAGE has set out to redefine the way fashion shows are presented by combining physical and digital elements. It has created a fashion extravaganza that enables brands to overcome geographical and time limitations to showcase their latest designs to buyers and fashionistas.

In addition to the virtual runway shows, the HKTDC has collaborated with Vogue Hong Kong to build a brand-new digital platform that introduces designers and their brands and collections. The CENTRESTAGE website has aggregated 240 brands from 23 countries and regions, including 130 new joiners such as Korean streetwear brand FlenoSeoul (under Gyeonggi Creative Fashion Studio Korea) and Taiwanese canvas craft brand Guang Fu Hao.

Benjamin Chau, HKTDC Deputy Executive Director, said: "This year presents a very challenging time for economies and businesses around the world. Despite the disruptions brought by the pandemic, the fashion industry is still forging ahead. In response to the current situation, CENTRESTAGE has successfully transformed into a digital fashion platform with a series of virtual runway shows, showcasing the latest collections from Hong Kong and Asian brands to fashion lovers and media from around the world. I am pleased to see designers overcoming challenges by coming up with creative responses to the 'new normal', launching their collections on the HKTDC's online platform to gain exposure and expand their networks."

Fashion Hong Kong – "Space Odyssey"-themed opening fashion show

The creativity and imagination of designers and fashion brands have not been held back by the pandemic. The premiere of the Fashion Hong Kong show marks the start of six spectacular virtual runway shows. Fashion Hong Kong spotlights eight homegrown design units that have all taken part in New York or London Fashion Week events, including Mountain Yam (brand: 112 mountainyam), Angus Tsui (brand: ANGUS TSUI), Bettie Jiang (brand: Bettie Haute Couture), design duo Jessica Lau and Walter Kong (brand: BLIND by JW), Doris Kath Chan (brand: DorisKath), Glori Tsui (brand: METHODOLOGY), Sun Lam (brand: SUN=SEN) and Yeung Chin (brand: YEUNG CHIN).

The opening show has a "Space Odyssey" theme, fusing various new designs with different virtual planets and eye-catching visual effects to take the audience on a creative journey. The audience can enjoy shopping discounts offered by the brands and also get the chance to win limited-edition items by joining an online giveaway campaign. The deadline for the giveaway is 11:59 pm today (17 September). More details can be found on the Fashion Hong Kong official Instagram account. https://www.instagram.com/hktdcfashionhk/?hl=zh-hk

Following on from Fashion Hong Kong will be the "Next in Cheongsam" runway show featuring the latest collections from two designer brands: SPARKLE by Karen Chan – Modern Cheongsam and THE SPARKLE COLLECTION – Modern Couture. The former has invited Fung Yau-choi, a master of cheongsam sewing, which is listed as one of Hong Kong's items of intangible cultural heritage, to craft an original silk collection. The latter brand focuses on gown designs in an East-meets-West style. The show has also taken Neon Hong Kong as its stage design inspiration to illustrate the aesthetic and mood of old Hong Kong.

Other not-to-be-missed runway shows include "FASHIONALLY Collection #15" and two Designers' Collections Shows, "Taipei in Style" and "Hong Kong en Vogue", which will be premiered online on 18 and 19 September respectively.

Two-day countdown to the long-awaited YDC 2020 final

Another CENTRESTAGE highlight will be the Hong Kong Young Fashion Designers' Contest (YDC) 2020 Final on 19 September. Fourteen shortlisted candidates will compete for five awards this year, including a new category – the My Favourite Collection award. Members of the public can vote for their favourite collection among the YDC finalists to win a HK$2,000 e-Gift Coupon sponsored by Hysan Place. The voting deadline is midnight tomorrow (18 September).

Running from now until 30 September, the "CENTRESTAGE in Town" citywide campaign features fashion-related promotions partnering with fashion malls, restaurants, hotels and fashion-focused cultural landmarks in the city and featuring fashion showcases, workshop and shopping and dining offers. Members of the public are encouraged to join in to celebrate this iconic fashion event.

Websites
– CENTRESTAGE: www.centrestage.com.hk
– Fashion Hong Kong: www.fashionhongkong.com
– Hong Kong Young Fashion Designer's Contest (YDC): www.fashionally.com
– YDC 2020 "My Favourite Collection" Lucky Draw: https://vote.fashionally.com/en/index.php
– CENTRESTAGE in Town: https://centrestage.com.hk/en/event/centrestageintown/index.php

Details of CENTRESTAGE 2020 Virtual Runway Shows
17-19 September, Thursday to Saturday
Note: All fashion shows will be premiered on the HKTDC CENTRESTAGE website www.centrestage.com.hk

17 September 2020 (Thursday)

Fashion Hong Kong
Time: 3pm (GMT +8)
Brands: 112 mountainyam (designer: Mountain Yam), ANGUS TSUI* (designer: Angus Tsui), Bettie Haute Couture* (designer: Bettie Jiang), BLIND By JW* (designer: Jessica Lau & Walter Kong), DorisKath (designer: Doris Kath Chan), METHODOLOGY (designer: Glori Tsui), SUN=SEN# (designer: Sun Lam), YEUNG CHIN* (designer: Yeung Chin)
Celebrity model: Omi Kwong, Hong Kong Open TV host
*2020 London Fashion Week AW2020 participants; #2020 New York Fashion Week FW2020 participant

Designers' Collection Show: Next in Cheongsam
Time: 3:15pm (GMT +8)
Brands: SPARKLE by Karen Chan – Modern Cheongsam (designer: Karen Chan),
THE SPARKLE COLLECTION – Modern Couture (designer: Karen Chan)

18 September 2020 (Friday)

FASHIONALLY COLLECTION #15
Time: 3pm (GMT +8)
Brands: ARTO. (designer: Arto Wong), Charlotte Ng Studio (designer: Charlotte Ng), FromClothingOf (designer: Shirley Wong), KEVIN HO (designer: Kevin Ho), Lapeewee (designer: Yannes Wong), REDEMPTIVE (designer: Wilson Choi), SFZ&SON (designer: Sonic Lam), Tak L. (designer: Tak Lee), YMDH (designer: Jason Lee)

Designers' Collections Show: Taipei in Style
Time: 3:15pm (GMT +8)
Brands: CHENG PAI CHENG (designer: Cheng Pai-cheng), CHERNG (designer: Cherng-Hann Lee), MARQUESS & HOMA (designer: Homa Hou), Ysanne (designer: Mei Chu Wang)

19 September 2020 (Saturday)

Designers' Collection Show: Hong Kong en Vogue
Time: 3pm (GMT +8)
Brands: Mary Yu (designer: Mary Yu), ALPS Annie Ling (designer: Annie Ling), Ejj Jewellery (designer: Elaine Shiu), JUNW Natural (designer: Jun Wong), Oplus2 (designer: Otto Tang), Syra J. (designer: Jocelynn Chu)

Hong Kong Young Fashion Designers' Contest 2020
Time: 8:45pm (GMT +8)
(Click here https://tinyurl.com/y6a6o2wo to download photos + Fashion Hong Kong & Next in Cheongsam lookbook)

*Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organizers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Communications and Creative Industries Branch of the Commerce and Economic Development Bureau, Create Hong Kong, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.

About Create Hong Kong

Create Hong Kong (CreateHK) is a dedicated agency set up by the Government of the Hong Kong Special Administrative Region (HKSAR Government) in June 2009. It is under the Communications and Creative Industries Branch of the Commerce and Economic Development Bureau and dedicated to spearheading the development of creative industries in Hong Kong. Its strategic foci are nurturing talent and facilitating start-ups, exploring markets, and promoting Hong Kong as Asia's creative capital and fostering a creative atmosphere in the community. CreateHK sponsors the CENTRESTAGE since 2019 to promote Hong Kong's fashion design. Website: www.creathek.gov.hk.

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: http://www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Contact:
Snowy Chan, Tel: +852 2584 4537, Email: snowy.sn.chan@hktdc.org Agnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org



Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

The sole supplier of solvents and additives in Tesla’s new battery is Chinese company Shi Dashenghua

HONG KONG, Sep 17, 2020 – (ACN Newswire) – A Tesla battery expert said that a large amount of the solvent DMC dimethyl carbonate will be used in the electrolyte of the new battery produced by itself, and the addition ratio is as high as 70%, which is 6 times higher than before. At the same time, the new battery will use a variety of new electrolyte additives. The exclusive supplier of DMC and additives is a Chinese manufacturer named Shi Dashenghua.



Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SGX-Listed OIO Holdings Launches Beta Test Program of Enterprise Cryptocurrency Wallet

SINGAPORE, Sep 17, 2020 – (ACN Newswire) – SGX-listed OIO Holdings Limited ("OIO") is pleased to announce the beta test launch of Moonstake Enterprise Wallet, a cryptocurrency wallet for enterprise users. OIO is engaged in sales and marketing of Moonstake Enterprise Wallet – one of the B2B products of our strategic partner, Moonstake. OIO and Moonstake hope to target enterprises for the program, including SMEs & start-ups, which use cryptocurrencies for their operations or investments.





The Wallet hopes to address the current pain points which top management and finance departments face when holding and transacting cryptocurrencies. These include the inability to designate proper authorization and approval processes when paying with crypto, setting spending limits and generating transaction reports. The Wallet aims to be a secure and cost-effective solution that provides enterprise users with comfort and useability, common in online banking services, when transacting with cryptocurrencies.

Compliance and Control with Cryptocurrencies

Establishing proper internal controls over financial transactions is a critical part of compliance with regulatory requirements as well as good corporate governance practices. Authorizations for transactions are often distributed across multiple layers in an organization and spending limits are set for each person depending on their role in the organization. Financial reports can be also generated easily from most online banking systems and integrated to enterprises' accounting systems for audit and compliance purposes. These features enable enterprises to monitor assets and have an overview of their financial status in a timely manner.

However, enterprises using cryptocurrencies lack the same control and visibility that are common to most online banking services. Most of the existing wallet solutions, irrespective of whether they are custodian wallets or non-custodian wallets, do not provide the sufficient functions necessary to hold and use cryptocurrencies with sufficient control and accountability, which proves challenging for the enterprise adoption of cryptocurrencies.

As the blockchain-based services and cryptocurrencies grow in popularity across a variety of industries, OIO believes that the demand for an enterprise wallet which companies can use with confidence and ease will only increase. This is the current gap in the market which Moonstake Enterprise Wallet aims to address.

Current Wallet Features

The current beta version of Moonstake Enterprise Wallet supports major cryptocurrencies like ETH and USDT, and has functions such as instant and test payment, assigning of roles and rules, spending limits and bulk payments. Future versions of the Enterprise Wallet will include the addition of more cryptocurrency types, as well as other features such as the generation of on-demand financial reports for companies' management and finance departments.

In terms of security, the current beta product is a multi-signature wallet that requires at least two private keys to access stored funds. Future versions of the wallet will include potential deployment of secure multi-party computation (MPC) technology which would eliminate "single points of failure", and enhance the security for larger enterprise wallet users.

Goals of the Beta Test

OIO is now inviting enterprises interested in beta testing to provide feedback on the present challenges, and the features requested for using cryptocurrencies in their current workflow processes. The feedback and insights provided by early beta testers will help OIO develop the product further before it markets the Enterprise Wallet to a wider pool of enterprise users.

Ideal beta testers for the program include SMEs, start-ups and larger enterprises which are now holding and using cryptocurrencies or are planning to do so in future for their operations or investments. By joining the beta testing program, enterprise participants will stand to benefit from future business collaboration with OIO as an SGX-listed blockchain solution provider, and stand to benefit from being highlighted in joint marketing efforts with OIO in promoting the adoption of its blockchain solutions.

Register interest at OIO's website – https://oio.sg/oio-enterprise-wallet/.

"The vision of Moonstake Enterprise Wallet is to be a safe institutional-grade wallet that lets you hold, store and withdraw digital assets securely with necessary internal controls and visibility for the management of the companies," said Taku Edatsune, OIO's Head of Finance and Administration. "We believe the future increase in adoption of cryptocurrencies will increase the need for a cryptocurrency wallet which enterprises can use with confidence."

About OIO Holdings Limited

OIO Holdings Limited (KUX / OIOH.SI) is a Singapore Exchange-listed firm whose core businesses are the provision of mechanical and electrical ("M&E") engineering services, and blockchain-related agency and consulting services. Over the years, OIO has developed extensive expertise as an M&E engineering services and solution provider, and has built up a strong network of well-established clients engaged in luxury resorts or well-known projects in and around Singapore and the region.

OIO has expanded into blockchain-related businesses which include sales agency business, software development agency business and blockchain-related consultancy businesses. OIO's vision is to be the best service partner and provider of innovative technology solutions to power the growth of enterprises in Asia.

Website: http://www.oio.sg/
Facebook: https://www.facebook.com/oioholdings/
LinkedIn: https://www.linkedin.com/company/oio-holdings-limited/
Twitter: https://twitter.com/HoldingsOio

About Moonstake Pte Ltd

Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Staking adopts Proof-of-Stake (PoS) as a type of consensus algorithm which allows cryptocurrency holders to increase the likelihood of receiving block rewards from block validation transactions. It brings together the ability to stake and ultimately distributes block rewards based on contribution. Moonstake develops a staking pool protocol, and provides business services through partners and companies. Staking is expected to help elevate blockchain technology and work for decentralisation. Please visit https://www.moonstake.io/.

Service contact:
Sam Lay, Head of Business Development, OIO. email: enquiry@oio.sg
Company contact:
Taku Edatsune, Head of Finance and Administration, OIO. email: press@oio.sg, or investor.relations@oio.sg

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

NanoViricides Nominates a Novel Candidate for Advancing Into Clinical Trials for Treatment of COVID-19

SHELTON, CT / ACCESSWIRE, Sep 16, 2020 – (ACN Newswire) – NanoViricides, Inc. (NYSE American:NNVC) (the "Company") a global leader in the development of highly effective antiviral therapies based on a novel nanomedicines platform, today announced that it has nominated a clinical drug candidate for the treatment of COVID-19, thus further advancing its COVID-19 program closer to human clinical trials.

The Company has accelerated its drug development program for COVID-19 with the goal of creating the most effective medicine to obtain regulatory approval for emergency use in the COVID-19 pandemic in the shortest timeline feasible, after achieving proof of concept of broad-spectrum anti-coronavirus effectiveness of test candidates.

The Company therefore aggressively worked to harness the full power of the nanoviricides® nanomedicine platform to achieve these objectives.

A curative treatment for a virus such as SARS-CoV-2 coronavirus would require a multi-faceted attack that shuts down (i) ability of the virus to infect host cells and simultaneously, (ii) ability of the virus to multiply inside the host cells. The nanoviricide® platform enables direct multi-point attack on the virus that is designed to disable the virus and its ability to infect new cells. At the same time, a nanoviricide is also capable of carrying payload in its "belly" (inside the micelle) that can be chosen to affect the ability of the virus to replicate. The nanoviricide is designed to protect the payload from metabolism in circulation. Thus, the nanoviricide platform provides an important opportunity to develop a curative treatment against SARS-CoV-2, the cause of COVID-19 spectrum of pathologies.

The clinical candidate the Company has chosen is identified as NV-CoV-1-R. It is made up of a nanoviricide that we have found to possess broad-spectrum anti-coronavirus activity, now identified as NV-CoV-1, and remdesivir encapsulated inside the core of NV-CoV-1. NV-CoV-1 itself is designed to attack the virus particles themselves, and possibly would also attack infected cells that display the virus antigen S-protein, while sparing normal (uninfected) cells that do not display the S-protein. Additionally, remdesivir is widely understood to attack the replication cycle of the virus inside cells. Thus the combined attack enabled by NV-CoV-1-R on the virus could prove to be a cure for the infection and the disease, provided that the necessary dosage level can be attained without undue adverse effects. Human clinical trials will be required to determine the safety and effectiveness of NV-CoV-1-R.

Remdesivir is a well-known antiviral drug (developed by Gilead) that has been approved for emergency use treatment of SARS-CoV-2 infection or COVID-19 in several countries. NV-CoV-1 is a novel agent that is being used as an adjuvant to remdesivir in creating NV-CoV-1-R, to improve the overall effectiveness. It is well known that remdesivir suffers from rapid metabolism in circulation that breaks down the prodrug to its nucleoside form which is not readily phosphorylated. The Company anticipates that encapsulation in NV-CoV-1 may protect remdesivir from this rapid metabolism. If this happens, the effective level and stability of remdesivir in the body would increase. This increase may lead to increased effectiveness if there are no adverse effects. Such increased effectiveness, if found, may also allow reduction in the required dosage of remdesivir in the encapsulated form, i.e. as NV-CoV-1-R. In this sense, NV-CoV-1 can be viewed to act as an adjuvant that enhances the effect of remdesivir, a known antiviral against SARS-CoV-2.

"This is an extremely important milestone for the Company," said Anil R. Diwan, PhD, President and Executive Chairman of the Company, adding, "We look forward to rapid development of the IND enabling core safety pharmacology studies and, thereafter, human clinical development on an accelerated timeline in these trying times of the pandemic."

About NanoViricides

NanoViricides, Inc. (the "Company")(www.nanoviricides.com) is a development stage company that is creating special purpose nanomaterials for antiviral therapy. The Company's novel nanoviricide® class of drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. Our lead drug candidate is NV-HHV-101 with its first indication as dermal topical cream for the treatment of shingles rash. In addition, we have declared a clinical development candidate, namely NV-CoV-1-R, which encapsulates remdesivir inside NV-CoV-1, for the treatment of COVID-19. The Company cannot project an exact date for filing an IND for NV-CoV-1-R because of its dependence on a number of external collaborators and consultants.

The Company is now working on performing required safety pharmacology studies and completing an IND application for NV-CoV-1-R. The Company believes that since remdesivir already has an emergency use approval, NV-CoV-1-R is likely to be an approvable drug, if safety is comparable. Remdesivir is developed by Gilead. The Company has developed NV-CoV-1-R independently.

The Company intends to re-engage into an IND application to the US FDA for NV-HHV-101 drug candidate for the treatment of shingles once its COVID-19 project moves into clinical trials, based on resources availability. The NV-HHV-101 program was slowed down because of the effects of recent COVID-19 restrictions, and re-prioritization for COVID-19 drug development work.

The Company is also developing drugs against a number of viral diseases including oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. NanoViricides' platform technology and programs are based on the TheraCour® nanomedicine technology of TheraCour, which TheraCour licenses from AllExcel. NanoViricides holds a worldwide exclusive perpetual license to this technology for several drugs with specific targeting mechanisms in perpetuity for the treatment of the following human viral diseases: Human Immunodeficiency Virus (HIV/AIDS), Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), Rabies, Herpes Simplex Virus (HSV-1 and HSV-2), Varicella-Zoster Virus (VZV), Influenza and Asian Bird Flu Virus, Dengue viruses, Japanese Encephalitis virus, West Nile Virus and Ebola/Marburg viruses. The Company has executed a Memorandum of Understanding with TheraCour that provides a limited license for research and development for drugs against human coronaviruses. The Company intends to obtain a full license and has begun the process for the same. The Company's technology is based on broad, exclusive, sub-licensable, field licenses to drugs developed in these areas from TheraCour Pharma, Inc. The Company's business model is based on licensing technology from TheraCour Pharma Inc. for specific application verticals of specific viruses, as established at its foundation in 2005.

This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by NanoViricides, Inc. are "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. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Although it is not possible to predict or identify all such factors, they may include the following: demonstration and proof of principle in preclinical trials that a nanoviricide is safe and effective; successful development of our product candidates; our ability to seek and obtain regulatory approvals, including with respect to the indications we are seeking; the successful commercialization of our product candidates; and market acceptance of our products. FDA refers to US Food and Drug Administration. IND application refers to "Investigational New Drug" application. CMC refers to "Chemistry, Manufacture, and Controls".

CONTACT:
NanoViricides, Inc.
info@nanoviricides.com

Public Relations Contact:
MJ Clyburn
TraDigital IR
clyburn@tradigitalir.com

SOURCE: NanoViricides, Inc.

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

BnkToTheFuture makes a strategic investment in Blockpass

HONG KONG, Sep 15, 2020 – (ACN Newswire) – Blockpass and BnkToTheFuture are pleased to jointly announce a new working partnership that has been formed to bring a number of benefits to both companies. BnkToTheFuture, a pioneering global online investment platform which has facilitated the investment of hundreds of millions of dollars in FinTech and Crypto companies, is investing in Blockpass as a lead investor. BnkToTheFuture will also be integrating Blockpass' KYC Connect solution into its ecosystem to enable fast, simple and efficient KYC and AML services.

A global online investment platform that allows qualifying investors to invest in financial innovation including FinTech companies, funds and other new alternative financial products, BnkToTheFuture was established in 2010. With a strong focus on compliance, BnkToTheFuture has a community of over 100,000 professional FinTech investors and has invested in cryptocurrency and blockchain companies such as Coinbase, Kraken, Bitstamp, Circle, Shapeshift, Ripple, Bitfinex and over a hundred others.

Blockpass provides a KYC verification SaaS to businesses that operate in regulated industries and an increasingly remote world where trust needs to be verified digitally. Through the Blockpass digital identity protocol, end-users can easily create a verified portable identity that can be re-used to onboard with any service in minutes. Blockpass' unique token, PASS token, is a utility token which facilitates the working of the Blockpass ecosystem and the growth of its user base by rewarding both businesses and individuals that use the platform.

"It's always a pleasure to work with a company whose aims and values closely match our own," stated Adam Vaziri, Blockpass CEO. "Working with BnkToTheFuture provides a great opportunity for us to extend our services to an even wider audience as we seek to bring the cost of compliance down, both in terms of time and money. BnkToTheFuture's investment and integration of Blockpass reinforces that we must be on the right track!"

"As the world's longest-standing Bitcoin company and first ever crypto securities business, we have been working on compliance with global securities laws for over a decade now. We decided to invest and integrate with Blockpass in order to streamline meeting our compliance requirements with a pioneer in Blockchain regulatory technology," stated Simon Dixon, CEO BnkToTheFuture.com.

Both heavily interested in blockchain technology, cryptocurrencies and regulatory compliance, Blockpass and BnkToTheFuture seek to improve the way existing opportunities and services work by utilising groundbreaking technology. As remote working and online markets are increasingly becoming the norm, innovative and flexible solutions need to be utilised to meet changing needs. Blockpass' efficient compliance services and BnkToTheFuture's investment opportunities represent a new way forward for people and businesses in a technologically developed world.

About Blockpass

Blockpass is a unique, reusable digital identity (DID) solution for organizations that participate in regulated industries and in the increasingly remote business environment where trust needs to be verified digitally. Blockpass offers an alternative process to cumbersome, repetitive and expensive Know Your Customer (KYC) and Anti-Money Laundering (AML) checks through a seamless merchant dashboard that is setup immediately with pay-as-you-go and no initial fee. Blockpass' KYC Connect(TM) platform enables businesses to select requirements for customer onboarding that can include ID authentication, face-matching, address checking, AML ongoing monitoring and/or screening of sanctions lists, politically exposed persons (PEP), and adverse media. Through Blockpass, end-users easily create a verified portable identity that they can control and re-use to onboard with any service instantly. In response to the Covid pandemic, Blockpass recently developed a digital certificate service for Covid infection and antibody verification testing.

For more information and updates, please visit and sign up to the following:
Promotional video: https://youtu.be/SvO2cw3e-SI
Website: http://www.blockpass.org
Email: sales@blockpass.org

About BnkToTheFuture

BnkToTheFuture is a global Online Investment Platform allowing qualifying investors to build their investment portfolio in the equity of Crypto & FinTech companies, security tokens and other new alternative financial products. BnkToTheFuture was the very first securities business in the crypto market launching shortly after Bitcoin in 2010 and now has a community of over 100,000+ qualified investors from all over the world who have invested over $850 million in funding rounds listed on its online investment platform. BnkToTheFuture portfolio companies include Coinbase, Circle, Blockchain.com, Kraken, BitStamp, BitFinex, ShapeShift, BitPay, Ripple Labs and over 100 others. For more info visit https://BnkToTheFuture.com





Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

ADERA to Broaden and Deepen its Business Presence in Chongqing, China

SINGAPORE, Sep 15, 2020 – (ACN Newswire) – Adera Global Pte. Ltd. ("ADERA" or the "Company"), an innovative financial services technology group headquartered in Singapore with a track record of more than 35 years, is pleased to announce that it has entered into two Memorandum of Understandings ("MOU") and a letter of intent to broaden and deepen its business presence in Chongqing, China.

Highlights:

– Supported by major Chinese institutions in the banking and trade industries, the supply chain financing platform will utilise ADERA's blockchain solutions and it will be jointly developed together with two established Chinese partners, Chongqing JiangBeiZui CBD investment Group and CCIF Pte Ltd
– Greater economic collaboration will facilitate more trade between Singapore and Chongqing and the supply chain financing platform will enable enterprises in Singapore and Chongqing to digitalise and standardise their trade processes and invoices
– With enhanced accountability and transparency via the supply chain financing platform, it fosters greater trust and confidence between financing institutions and transacting parties, leading to lower risks to business transactions and faster access to financing
– The fintech and data centre established by ADERA will be located in Bishan, Chongqing and it will focus on the development of fintech solutions, artificial intelligence and secured data capabilities, among other new technology innovations
– ADERA will also be participating in SMART CHINA EXPO 2020, where the Company will showcase its latest fintech and digitalisation innovations in this Virtual Expo

The MOUs and letter of intent are part of the China-Singapore (Chongqing) Demonstration Project on Strategic Connectivity and it is the third intergovernmental cooperation project between China and Singapore which mainly covers four key areas of cooperation: financial services, aviation industry, transportation logistics and information, and communication.

Previously, such intergovernmental cooperation projects have effectively facilitated the origination and completion of several China-Singapore cooperation projects. In 2018, 16 cross-border financing projects under the China-Singapore Demonstration Initiative on Strategic Connectivity were followed through.

Strategic Collaborations with Established Chinese Private Enterprises and Government Agencies in Chongqing

Chongqing, in southwest China, is one of four municipalities directly controlled by the central government – the other three are Beijing, Shanghai, and Tianjin. Chongqing has posted double-digit economic growth for more than a decade and in 2019, Chongqing posted a GDP growth of 6.3% Y-o-Y to RMB 2,361 billion in 2019.

ADERA's first MOU and letter of intent relates to the development of the first supply chain financing platform for cross border trade activities between Singapore and Chongqing.

Utilising ADERA's blockchain solutions and technology capabilities, the supply chain financing platform will be jointly developed together with two established Chinese partners, Chongqing JiangBeiZui CBD investment Group, a state-owned enterprise, and CCIF Pte Ltd, a state-related business agency.

In addition, the supply chain financing platform has obtained the support from major Chinese institutions in the banking and trade industries that comprise of Bank of Chongqing, YuMaoTong Foreign Trade Service Platform and Chongqing Tianlian Citrus Network Technology Co. Ltd.

To facilitate a greater volume trade activities between Singapore and Chongqing and improve efficiency between business enterprises in both countries, the blockchain-based supply chain financing platform will integrate multiple e-invoicing standards in China to conform to the PEPPOL e-invoicing standard that is recognised internationally.

With enhanced accountability and transparency via the supply chain financing platform, it can foster greater trust and confidence between financing institutions and transacting parties, leading to lower risks to business transactions and faster access to financing.

The pilot supply chain financing platform is expected to be introduced by the end of 2020 and there is potential to replicate the platform across other key markets in China and connecting more business enterprises and transactions between China and Singapore.

The second MOU is signed between ADERA and Chongqing Bishan District Government to establish a fintech and data centre, spearheaded by ADERA, which will be located in Bishan, Chongqing. The fintech and data centre will focus on the development of fintech solutions, artificial intelligence, and secured data capabilities, amongst other new technology innovations.

Commenting on these milestones, Mr. Lennon Tan, Chairman of ADERA, said: "The MOUs and letter of intent reflect our strong commitment to serve the business communities in both Chongqing and Singapore with our technology innovations and deep industry experience.

Working together with our established MOU partners in Chongqing, we look forward to develop an enhanced ecosystem of trust that transcends geographical barriers and creates new value propositions that will benefit stakeholders.

Paving the way for the mainstream adoption for digitised supply chain documentation and data integration, we believe that our blockchain-based supply chain financing platform will lead to a higher volume of cross border trades and faster access to supply chain financing while lowering risks at the same time among transacting parties."

Mr. Lennon Tan, added, "Sharing a common vision of developing and commercialising new technology innovations with the district government in Bishan Chongqing, our fintech and data centre in Chongqing aims to be a gateway to enable more advanced technology applications to create a more inclusive community."

Showcasing ADERA's Latest Fintech and Digitalisation Innovations in SMART CHINA EXPO 2020

In addition, ADERA is participating in the SMART CHINA EXPO 2020, which is an annual gathering for international enterprises, industry leaders, scholars and experts, and government officials to share and explore the latest developments in the fields of smart technology, smart industry, smart manufacturing, and smart application.

Due to the COVID-19 pandemic, SMART CHINA EXPO 2020 has been transformed into a virtual platform and ADERA will be showcasing its latest fintech and digitalisation innovations in the following areas:

– Blockchain driven cross-border e-invoicing & supply chain platform
– Digital identity solutions enabling enrolment to verification
– Fintech transformation for banking institutions with workflow automation & intelligent kiosk
– Biometric contactless attendance and temperature-taking system with contact tracing
capabilities

About Adera Global Pte Ltd ("ADERA")

Serving global banks, financial institutions, telecommunications and government agencies around the world, ADERA is a financial services technology group headquartered in Singapore providing a platform of innovative fintech, digitalisation and data security solutions.

With an established track record of more than 35 years, ADERA aims to enable our customers to digitalise and enhance their business models to broaden access to new markets, improve end- users experience and develop greater business efficiency.

For more information, please visit ADERA website: https://aderaglobal.com

Issued on behalf of Adera Global Pte. Ltd. by 8PR Asia Pte Ltd.

Media Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Moonstake partners with TZ Ventures, Tezos centric blockchain startup combinator from South Korea

SINGAPORE, Sep 15, 2020 – (ACN Newswire) – We are pleased to announce that Moonstake and Binarystar entered into a strategic partnership with TZ Ventures from South Korea accelerating industry adoption of staking within Tezos's ecosystem.





Moonstake is an advanced technology company with specific focuses on blockchain and staking technologies to build Asia's Biggest Staking Network. Moonstake was established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Signature products include Moonstake Web Wallet along with Moonstake Mobile Wallet (iOS / Android) enabling full staking functions and to be an all-in-one gateway for users to maximize the usage and potential of cryptocurrencies. Currently, Moonstake's staking pool supports Cosmos, IRISnet, Ontology, Harmony, Cardano, QTUM and supports Tezos thereby providing current users with the flexible option to adopt Tezos for staking purposes.

Moonstake users have the ability to use their Tezos Asset (XTZ) to earn rewards through its website based staking pool. With Tezos, the active community will be able to stake their coins on the Moonstake platform. Unlike other cryptocurrencies to stake, if you have more than 1 XTZ, you can get connected with a validator and are eligible to receive rewards. To perform staking with Moonstake, you need to create an account and stake at Moonstake Web Wallet. At this time, the transaction fee will be charged. Rewards are automatically handed out based on the tokens you have in your wallet. The entire quantity held in the wallet will continue to be staked. You are free to send and receive tokens in your wallet at any time, even while staking. There is no lockout period.

TZ Ventures incubates early stage blockchain startups based on Tezos. They provide support to projects building on Tezos and venturing into equity financing. They mainly incubate projects on Tezos and aim to build real business use cases of blockchain technology. They run a regular program that assists startups with office space, technical support, mentoring, marketing, partnerships, fund-raising and more.

Tezos is a technology for deploying a blockchain capable of modifying its own set of rules with minimal disruption to the network through an on-chain governance model. Unlike Bitcoin, Tezos does not rely on mining (Proof of Work), but instead utilizes a Proof-of-Stake based consensus model. At Tezos, all stakeholders can participate in managing the protocol. The selection cycle offers a formal and systematic procedure for stakeholders to agree on proposed protocol changes. By combining this in-chain mechanism with self-change, Tezos can change this initial selection process to adopt better management mechanisms as soon as it is realized. At Tezos, all stakeholders can participate in managing the protocol. The selection cycle offers a formal and systematic procedure for stakeholders to agree on proposed protocol changes. By combining this in-chain mechanism with self-change, Tezos can change this initial selection process to adopt better management mechanisms as soon as it is realized.

Moonstake will work closely with Jaywon Lee, Director of TZ Ventures and Diego Olivier Fernandez Pons, Scientific Advisor of TZ Ventures.

Jaywon Lee, Director of TZ Ventures:
Jaywon is the Director for TZ Ventures which is a Tezos-centric incubator for start-ups seeking to use the Tezos blockchain protocol. TZ Ventures helps start-ups to achieve technical, business and organizational milestones during the intensive incubation program to prepare for the demo day. He is also a business school professor and teaches accounting and entrepreneurship in the undergraduate, MBA and corporate programs. He has extensive experience in establishing and incubating start-up companies which span a wide spectrum of industries (AR/VR, bio/medical, blockchain, cybersecurity, De-Fi, E-commerce, entertainment, fin-tech, green energy, logistics, mobile health and prop-tech) in multinational locations (Chile, France, Hong Kong, Korea, Qatar, Saudi Arabia, Singapore, Taiwan, Thailand, UAE, UK, US and Vietnam). He is also an author of a best-selling IT book in Korea titled, "How to become a blockchain company". He earned his BS at U.C. Berkeley, completed the MS program at Purdue University and received his PhD at Columbia University.

Diego Olivier Fernandez Pons, Scientific Advisor of TZ Ventures:
Diego Olivier Fernandez Pons has been advising Tezos on scientific topics since 2014. He is a founding board member of the Tezos Foundation. While he was a board member of the Tezos Foundation, he created the Tezos R&D Labs (Nomadic Labs), launched the scientific partnerships between Tezos and scientific institutions like INRIA and IMDEA (French and Spanish research institute in computer science), he created the Tezos Foundation grant program. He also helped the creation of 4 Tezos Foundations in Asia (Japan, Korea, China and Singapore). He is today scientific advisor of TzVentures.

Moonstake's partner Binarystar will also support marketing efforts for this partnership and both companies by event organization and local community development on staking technology and blockchain adoption. This partnership will create synergies by jointly driving blockchain staking activity and accelerating industry adoption of staking within Tezos's ecosystem.

About Moonstake

Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Staking adopts Proof of Stake (PoS) as a type of consensus algorithm which allows cryptocurrency holders to increase the likelihood of receiving block rewards from its block validation transaction. It brings together the ability to stake and ultimately distributes block rewards based on contribution. Moonstake develops a staking pool protocol and provides business services through partners and companies. Staking is expected to help elevate the blockchain technology and work for decentralization. https://www.moonstake.io/

About TZ Ventures

TZ Ventures incubates early stage blockchain startups on Tezos. They provide support to projects building on Tezos and venturing into equity financing in South Korea. They mainly incubate projects on Tezos and aim to build real business use cases of blockchain technology. They run a regular program that assists startups with office space, technical support, mentoring, marketing, partnerships, fund-raising and more. https://www.tz.ventures/

About Binarystar Co. Ltd.

Binarystar Co. Ltd. is a leading Japanese incubation platform with Japan's biggest Blockchain business hub in the heart of Tokyo. It has multiple proprietary outlets to promote blockchain businesses to companies throughout Japan and East Asia and operate as a consulting body to accelerate business in such areas. https://binary-star.business/

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Dynasty Announces Strategic Plan for New Brandy Products on its 40th Anniversary

HONG KONG, Sep 14, 2020 – (ACN Newswire) – To celebrate its 40th anniversary and mark a milestone for the Group, Dynasty Fine Wines Group Limited (Stock Code: 828), a premier winemaker in China, has hosted a press conference unveiling its strategic plan for its brandy business and the launch of 3 new brandy products. The introduction of new products not only enriches the product matrix and culture elements of Dynasty's brandy, but also enhances its overall brand positioning. The new products are expected to become new growth drivers for Dynasty's brandy business.





The three new products, namely Dynasty V.S.O.P. Brandy Aged 8 Years, Dynasty V.S.O.P. Brandy Aged 10 Years and Dynasty X.O. 18 Years Old Brandy, are priced at different levels in the market. These products are made with the traditional brandy winemaking technique of France and made from Ugni Blanc harvested in the plantation area in Tianjin. Besides, they are produced by adopting the world's most famous Charentais Distillation and matured in French Limousin oak brandy barrels. They feature rich aroma, elegant and refined, strong but not dry. The products have been widely recognised by the industry experts.

Dynasty has set 2019 as "a reform year in sales and marketing", thus implementing a series of new market strategies which encompassed 1) promoting two upgrades, namely product upgrade and brand upgrade, 2) forming the third-tier markets, namely the core market, key market and potential market and 3) taking the four management measures and 4) the marketing campaign that showcasing in 10,000 shops, hosting 1,000 wine tasting events and organizing 100 plant visits. In 2020, Dynasty further pushed forward its business reform and focused on the implementation of "5+4+N product strategy", among which "5" refers to the five key series of products namely, air dry series, seven-year reserve series, merlot series, classic series and best-selling series, to achieve the goal of full coverage for all mainstream price segments; "4" refers to the four advantageous categories i.e. dry red wines, dry white wines, brandy and sparkling wines, to vertically increase market share; and "N" refers to developing various customised products to meet the diverse needs of Chinese consumers.

To align with its "5+4+N product strategy", the Group launched a new high-end product, Dynasty Chinese Zodiac Commemorative Dry Red Wine for the Geng Zi Year of the Rat, which integrates the high quality with the Chinese zodiac culture and leads the rise of Chinese-style fashion products during the first half of the year. The Group also launched Dynasty Jiuxiang Rose Liqueur series early this year. Moreover, the second generation of Dynasty Merlot Dry Red Wine series, which is the blockbuster product of the Group, made its debut on the market in May, targeting business banquets. Meanwhile, the Group released Dynasty Seven-Year Reserve Dry Red Wine series, positioning the high-end market with national banquet quality. The current new brandy product strategic plan also plays a key role in the implementation of its "5+4+N product strategy".

Established in 1980, Dynasty was the second Sino-foreign joint venture in China and the first-of-the-kind in Tianjin, with Tianjin Food Group Co. Ltd. and Remy Cointreau, a grape wine and brandy leader from France, as its major shareholders. In 1982, Dynasty started making brandy with French winemaking techniques. Marrying world renowned techniques and Chinese style, the Group has produced premium products showcasing top technical and quality features. The new products that hit the market this time have fully reflected the Group's determination to expand in the brandy market.

Dynasty said that the Company believes its brand can attract more consumers with its effective product strategy and a quality and comprehensive product mix. Stepping into the 40th anniversary, it will stay true to its original ideals, taking quality as the top priority in operations, and continuing to produce more premium wines in China, so as to make Dynasty the synonymy of top Chinese wine. Looking ahead, the Company will continue to adjust its product strategy, enhance its sales and marketing reform, carry on the past successes while making new achievements, thus paving the way for building a century-old brand.



Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Xinyi Energy Places New Shares to Raise Approximately HK$893 Million, Introduces Renowned Institutional Investors China Life Insurance and Hillhouse Capital to Become Shareholders

HONG KONG, Sep 14, 2020 – (ACN Newswire) – Xinyi Energy Holdings Limited ("Xinyi Energy" or the "Group"; stock code: 03868), a leading solar farm operator in the PRC has today announced that the Group will issue and allot 357,520,000 Placing Shares at the placing price of HK$2.50 per share to China Life Insurance (Group) Co. ("China Life Insurance") and Hillhouse Capital Advisors, Ltd. ("Hillhouse Capital"). China International Capital Corporation Hong Kong Securities Limited ("CICC") is the sole placing agent for the Placing.

Pursuant to the Placing Agreement with CICC, China Life Insurance and Hillhouse Capital will subscribe for 125,020,000 Placing Shares and 232,500,000 Placing Shares respectively. The total number of 357,520,000 Placing Shares represent approximately 5.29% of the existing issued share capital and approximately 5.03% of the enlarged issued share capital of the Group. The placing price represents a discount of approximately 8% to the closing price of HK$2.72 per Xinyi Energy share on 11 September 2020, being the last trading day prior to signing of the Placing Agreement. The Placing is expected to be completed no later than 2 November 2020. After deducting all relevant costs and expenses, the net proceeds will be approximately HK$893.2 million which the Group intends to use for general working capital.

Mr. LEE Shing Put, B.B.S., Chairman and Executive Director of Xinyi Energy, said, "We are delighted to introduce renowned institutional investors, China Life Insurance and Hillhouse Capital, to join us as shareholders. Their investment serves as evidence of the investors' confidence in our business strategies and prospects. Xinyi Energy believes that the Placing will further expand our shareholder base and strengthen our financial position in order to get well prepared for future business development and deliver continuous and stable returns for shareholders."

About Xinyi Energy Holdings Limited (Stock Code: 03868)
Xinyi Energy, a leading solar farm operator in the PRC, mainly generates revenue from solar power electricity generation and sales of electricity to local subsidiaries of the State Grid, as well as receives management fees through the provision of operating and managing services of solar farms. All utility-scale solar farm projects owned by the Group are located in provinces with strong demand of electricity, such as Anhui Province, Hubei Province, Henan Province, Fujian Province and Tianjin Municipality, with no power curtailment problem ever in the past operating period. Currently, Xinyi Energy is owning a total of 16 solar farm projects with the aggregate approved capacity of 1,514 MW. Xinyi Energy intends to maintain a high dividend payout ratio. It's the Board's intention to declare and distribute not less than 90% of the distributable income for each financial year. Its controlling shareholder is Xinyi Solar Holdings Limited (stock code: 00968), which holds 52.7% of the Group's shares in issue as at 30 June 2020.

For details, please visit www.xinyienergy.com


Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com