Fourth Paradigm, a Leader in Enterprise AI, Listed on the Main Board of the Hong Kong Stock Exchange

Hong Kong, Sept 28, 2023 – (ACN Newswire) – China’s largest platform-centric decision-making AI company[1] – Beijing Fourth Paradigm Technology Co., Ltd. (stock code: 6682.HK), today listed on the Main Board of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).

Fourth Paradigm offered a total of 18,396,000 Shares in the global offering. The offer price was determined at HK$55.60 per offer share. The net proceeds from the Global Offering are estimated to be approximately HK$835.5 million.The Company intends to use the net proceeds for the following purposes: (1) Use for enhancing the Company’s fundamental research, technological capabilities and solution development over the next three years. (2) Use for expanding the Company’s offerings, build its brand and enter into new industry sectors over the next three years. (3) Use for pursuing strategic investment and acquisition opportunities to implement the Company’s long-term growth strategy to develop its solutions and expand and penetrate the industry verticals it covers over the next three years. (4) Use for general corporate purposes.

The Fourth Paradigm’s Hong Kong Offering was over-subscribed by approximately 11.4 times of the 1,839,600 shares offered. The International Offering also recorded an over-subscription, of approximately 1.57 times of the 16,556,400 shares offered.

The opening price of Fourth Paradigm today was HK$63.1, up by 13.49%, with a total market capitalisation of HK$29.3 billion accordingly.

Dr. Dai Wenyuan, Chairman of the Board, Executive Director, Chief Executive Officer and General Manager of Beijing Fourth Paradigm Technology Co., Ltd. said, “Since its inception, Fourth Paradigm has been committed to empowering AI transformation and advancing AI for all businesses, and has obtained a leading position in platform-centric enterprise AI solutions and core technologies. Being listed in HKEX today is an important milestone for Fourth Paradigm. I would like to thank all our staff for their unremitting efforts as well as government leaders, investors, customers and partners for their trust. Going forward, we will further consolidate our technical barriers and enhance our commercialization capabilities, continuously driving user success.”

Dr. Dai Wenyuan, Chairman of the Board, Executive Director, Chief Executive Officer and General Manager of Fourth Paradigm Delivered a Speech

Founded in 2014, Beijing Fourth Paradigm Technology Co., Ltd. is a leader in enterprise AI. The Company offers platform-centric AI solutions that can be rapidly deployed by enterprises on a large scale to uncover hidden patterns in data and comprehensively enhance their decision-making capabilities. Fourth Paradigm was the largest player by revenue in the platform-centric decision-making AI market in China in 2022, having a market share of 22.6%, according to the CIC Report. In March 2023, in addition to decision-making AI solutions, Fourth Paradigm launched SageGPT, an enterprise-grade generative AI product specially designed for business scenarios. SageGPT features multimodal interaction and enterprise-ready AI tools.

Fourth Paradigm’s focus has always been the value it creates for users and the success of users. Its end-to-end solutions directly address the challenges faced by enterprises in large-scale deployment of AI. The low- and/or no-code nature of its solutions empowers users in any industry with or without AI experience to implement its solutions easily and rapidly without involvement of AI experts, enabling enterprises to benefit from AI transformation. Fourth Paradigm’s strong value proposition and efforts to enable user success are evidenced by the results it has achieved with users. Fourth Paradigm has served a large number of lighthouse users who are market leaders in the respective industries they operate, including but not limited to finance, retail, manufacturing, energy and power, telecommunications, transportation, technology, education, media and healthcare.

[1] In terms of revenue in 2022 according to China Insights Consultancy.

For further information, please contact:

Porda Havas International Finance Communications Group

Mr. Bunny Lee +852 3150 6707 bunny.lee@h-advisors.global

MS. Ivy Lu +86 21 3397 8878 ivy.lu@h-advisors.global

MS. May Yang +86 21 3397 8725 may.yang@h-advisors.global

Apple’s 2023 Fall High-End Product Launch: A Boon for Suppliers

Hong Kong, Sept 28, 2023 – (ACN Newswire) – On September 12th, Apple’s annual fall launch event was held. Despite a 1.7% drop in stock price after the event, the company’s stock price has still gone up nearly 40% since the beginning of 2023.

As the most anticipated Pro lineup, iPhone 15 Pro and iPhone 15 Pro Max received wide attention during the event. Both models feature a strong and lightweight aerospace-grade titanium design, making them the most durable yet lightest Pro models ever. Compared to the former iPhone series, iPhone 15 Pro and iPhone 15 Pro Max are designed with a customizable Action button to replace the single-function switch used to toggle between ring and silent, allowing users to choose between multiple functions and personalize their iPhone experience. Regarding the high-profile camera system, the two models are equipped with a 48MP Main camera and vary in Telephoto camera; the iPhone 15 Pro features an expansive 3x Telephoto camera, and the iPhone 15 Pro Max features 5x at a focal length of 120 mm, providing the longest optical zoom ever on iPhone. According to Apple’s introduction, the new Telephoto camera on iPhone 15 Pro Max has an innovative tetraprism design with a combined optical image stabilization and autofocus 3D sensor-shift module, giving users professional-grade shooting experiences. At the same time, it is said that the iPhone 15 Pro lineup will be able to record spatial video for Apple Vision Pro, bringing a new experience in the near future.

In terms of chips, both models are powered by A17 Pro, the industry’s first 3-nanometer chip. A17 Pro includes 19 billion transistors, a dedicated AV1 decoder and a new USB controller, and the new USB-C connector is supercharged with up to 10Gbps speeds. Meanwhile, the two models feature a 6-core GPU, up to 20% faster than before.

Apple announced its first carbon-neutral products in the Apple Watch lineup, emphasizing low-carbon design and utilizing entirely fiber-based packaging. The new Apple Watch lineup has been designed with a new tool in the Home app called Grid Forecast to inform users of available cleaner energy for their power grid. Both the Series 9 and Ultra 2 models are powered by Apple’s all-new S9 SiP chip to ensure smoother performance.

Analysts from Wall Street continued to be optimistic about Apple’s stock price after the launch event, saying that a large number of loyal customers would still be attracted to and support the company based on Apple’s pricing strategy and the new features presented. Renowned analyst Dan Ives from Wedbush, a U.S. brokerage firm, raised the target price of Apple’s stock from $230 to $240 and maintained an “outperform” rating, stating that the replacement cycle bodes well for Apple. Citi mentioned that Apple’s focus on consumers shifting to high-end smartphones will result in higher profitability for the iPhone 15 series compared to the iPhone 14 series, and they maintained a “buy” rating on Apple.

According to statistical analysis, Luxshare Precision and Foxconn’s subsidiary, FIT Hon Teng, are the major suppliers in terms of USB-C ports and transmission lines. In the new mobile phone assembly OEM supply chain, Foxconn and Luxshare Precision are the main OEMs for the iPhone 15, while Luxshare Precision and Pegatron handle the assembly for the iPhone 15 Plus. The high-end iPhone 15 Pro OEMs are Foxconn and Pegatron, and the top-end iPhone 15 Pro Max are Foxconn and Luxshare Precision.

Analyzing the overall iPhone 15 assembly by proportion, Foxconn accounts for approximately 58% to 60% of the overall proportion, Luxshare Precision accounts for around 28% to 30%, and Pegatron holds a proportion of about 13%. In terms of the proportion of high-end models, data evaluations indicate that the iPhone 15 Pro and Pro Max series account for approximately 63% to 65%, of which the top-end iPhone 15 Pro Max accounts up to 35%, and the combined proportion of the iPhone 15 and 15 Plus is about 35%.

Apart from smartphones, Luxshare Precision is also an assembly manufacturer for Apple Watch and Apple Vision Pro. Luxshare Precision has established a long-term cooperation with Apple based on its solid manufacturing capabilities and strong delivery capacity.

Last week, Luxshare Precision’s chairwoman Wang Laichun revealed in an interview that over the past 12 years, Luxshare’s cooperation with Apple has covered three major product lines, including iPhone, Apple Watch and AirPods. It is also making production preparations for Apple Vision Pro. In addition, Luxshare is producing three models of iPhone 15 series this year, and the business has doubled in a year. In terms of in-depth cooperation and environmental protection, Luxshare Precision is one of the Chinese partners of Apple’s Supplier Clean Energy Program. Wang also mentioned that Luxshare Precision continues to expand production capacity in China to meet Apple’s needs. The company’s newly built manufacturing park in Kunshan last year was specifically used to support the development and mass production of iPhone. From the two parties over a decade of cooperation and development, it is not difficult to find the close relationship between them, and the scope of cooperation has gradually expanded and deepened to a new level.

According to data from research institutions, the global smartphone market is experiencing significant differentiation, with a notable decline in demand for mid and low-end products, while the demand for high-end smartphones remains strong. Apple has consistently maintained a dominant position in the high-end smartphone market. Following the launch of the new products, it is believed that the consumer electronic industry will be further stimulated, and both upstream and downstream companies in Apple’s supply chain are expected to benefit from it.

StrategINK Solutions concluded DAICON’23 – The Leading Data, AI Cloud Conference

MUMBAI, INDIA, Sept 27, 2023 – (ACN Newswire) – StrategINK Solutions Private Limited successfully concluded the 3rd Edition of DAICON, the leading DATA|AI|CLOUD conference on 22nd September at ITC Maratha, Mumbai. The esteemed conference, co-powered by SADA & Google Cloud, is swiftly carving out its niche as the premier convergence point for innovators, experts, and enthusiasts in the realm of Data, Artificial Intelligence and Cloud.

The one-day conference brought together a dynamic assembly of 50+ subject matter experts and luminaries from various sectors. Boasting participation of over 300 attendees, DAICON 2023 was a resounding success and has set a benchmark for holistic industry engagement.

We extend our heartfelt gratitude to our esteemed sponsor partners, whose unwavering support contributed to the resounding success of DAICON 2023. Our sponsors included industry giants such as SADA Systems, Google Cloud, Commvault, Dell Technologies, Pentagon Systems & Services Pvt. Ltd., and Slack, who played a pivotal role in making this event possible.

With a focus on the powerful trilogy of Data, AI, and Cloud, DAICON brought to light the latest advancements, trends and best practices through numerous panel discussions and sessions that are shaping the future of business and technology, leading the way in enabling transformation through innovation.

While each session catered to specific themes and nuances, some of the standout sessions included:

Power of We by StrategINK: An invigorating session that explored the cumulative power of collaborative innovation.Keynote by Sumnesh Joshi, Deputy Director General, Ministry of Communications and IT: A captivating discourse on ‘SmartGov – Data Driven Citizen Services’, setting the tone for the possibilities of a data-driven future in governance.Panel Discussions: These served as the pulse of DAICON, where industry experts dissected topics ranging from the confluence of Data, Cloud & AI to understanding the transformative potential of the Metaverse in shaping customer experiences.Closing Keynote: A thorough examination of the ‘Digital Personal Data Protection Act’, shedding light on its potential ramifications on enterprise data policies.

“The 3rd Edition of DAICON was not just an event but a celebration of innovation and futuristic vision,” said Santanu Ganguly, CEO, StrategINK, adding that “Witnessing such a dynamic ensemble of thought leaders, industry veterans, and next-gen thinkers converge under one roof is truly inspiring.”

For more information about StrategINK Solutions and its future events, please visit: https://www.strategink.com/

About Strateg

INK Solutions: A team of pragmatic and experienced Industry Experts, who passionately help businesses with a variety of services towards accelerating ‘Business Innovation & Go-to-Market’ pursuits. With core offerings of Research based Business Insights, Content driven Marketing Solutions, Digital Transformation Consulting & Advisory and Learning, Enablement & Skill augmentation Services, we catalyze & accelerate business transformation, digital-led innovation, sales acceleration, skill enhancement, and customer delight. With our rich, diverse & hybrid model of digital and physical tools, techniques and industry-proven frameworks and best practices, we develop unique solutions to address the complex business challenges of our clients and create compelling value through sustainable innovation.

For additional information, please contact:
Manish Sharma
Chief Business Officer
msharma@strategink.com

Fulfilling Indonesia’s Housing Needs, Bank BTN Again Receives Asia Money’s Best CSR Award

SINGAPORE, Sept 27, 2023 – (ACN Newswire) – PT Bank Tabungan Negara (Persero) Tbk (Bank BTN; IDX: BBTN)), a leading mortgage lender in Indonesia, has once again been honored with the “Best Bank for CSR in Indonesia” by Asia Money. This recognition applauds Bank BTN’s efforts in fulfilling housing needs for families, specifically Low-Income Communities (LIC), for a better quality of life.

Deputy CEO of BTN Oni Febrianto Rahardjo (right) receives the award from the representative of Asia Money — Deputy CEO of BTN Oni Febrianto Rahardjo (right) receives the award from Asia Money

Oni Febriarto Rahardjo, Deputy CEO of Bank BTN, stated that the company continues to transform to ensure sustainable growth. One of these transformations, as Oni explained, involves the sustainable integration of business with the Bank’s Corporate Social Responsibility (CSR) program, focusing on supporting families in Indonesia to have decent housing and living conditions.

“This award serves as both appreciation and validation that we have been effectively implementing our CSR programs, aligning with Bank BTN’s mission of addressing housing needs in Indonesia,” said Oni after receiving the award in Singapore on Tuesday, September 26.

According to data from the Indonesian Central Statistics Agency (CSA), the backlog of housing needs in Indonesia is divided into two main groups. The first group, consisting of approximately 2.2 million families, represents those with the lowest income, below Rp3 million/month (approx US$ 193)], while the second group includes 7.3 million families, with low and informal incomes ranging from Rp3 million to Rp8.5 million.

Oni added that sustainably integrating the CSR program into the bank’s business extends to these families by offering the BTN Micro Home Ownership Credit (KPR) program for the lowest-income groups. Bank BTN is also the sole bank offering Rent to Own KPR for low-income and informal workers. Bank BTN provides assistance to mothers and families with the lowest income to prevent stunting, from Pekanbaru, Riau Province, to East Nusa Tenggara. This assistance also involves Integrated Services Post (Posyandu) cadres for stunting prevention.

BTN also offers scholarships to high-achieving children from underprivileged families. The company’s CSR program involves tree planting and the creation of green open spaces in subsidized housing areas. As a publicly traded company with the stock code BBTN, BTN is the only bank that organizes the Mini MBA in Property, a property literacy program developed in collaboration with various renowned universities in Indonesia. This program is designed to encourage entrepreneurship in the housing sector.

“We continuously strive to be a company that grows sustainably and has a positive impact on society and the environment,” said Oni.

As of the end of 2022, approximately 53.5% of Bank BTN’s total loans were allocated to sustainable business activities. The company also reported that by the end of 2022, the total sustainable financing it had provided amounted to Rp147 trillion.

Contact: investor_relation@btn.co.id Web: https://www.btn.co.id

Artroniq Announces EV Bike Launch with United Motors in Malaysia in Q4 of 2023

KUALA LUMPUR, Sept 27, 2023 – (ACN Newswire) – Artroniq Berhad (“Artroniq”), a prominent figure in the ACE Market, proudly announces its upcoming official launch of an innovative range of electric motor products in collaboration with its wholly-owned subsidiary, Artronic Itech Sdn. Bhd in Kuala Lumpur in the fourth quarter of 2023.

Bapak Andrew Mulyadi, Director of PT. Terang Dunia Internusa (United Motors); Marcus Chin Choon Wei, Chief Financial Officer of Artroniq Berhad; H.E Dato’ Indera Hermono, Ambassador Extraordinary and Plenipontentiary of the Republic of Indonesia to Malaysia; Bapak Budihardjo Iduansjah, Chairman of ATEC (Asian Trade, Tourism and Economic Council) cum Chairman of HIPPINDO Indonesia Retail & Tenant Association; Yang Berhormat Senator Jaziri Alkaf Dr. Abdillah Suffian, Member of Pariliament

This significant advancement follows a strategic Distribution Agreement with Indonesia’s esteemed United Motors parent company, PT. Terang Dunia Internusa. The announcement ceremony took place at the Embassy of Indonesia in Malaysia, graced by notable dignitaries including Bapak Budihardjo Iduansjah, Chairman of ATEC (Asian Trade, Tourism and Economic Council) cum Chairman of HIPPINDO Indonesia Retail & Tenant Association; Yang Berhormat Senator Jaziri Alkaf Dr. Abdillah Suffian, Member of Parliament; Bapak Andrew Mulyadi, Director of PT. Terang Dunia Internusa; and hosted by Guest of Honour, His Excellency (H.E.) Dato’ Indera Hermono, Ambassador Extraordinary and Plenipotentiary of the Republic of Indonesia to Malaysia.

The imminent launch promises to be a momentous event in ASEAN’s landscape, strengthening Malaysia’s deep-rooted partnership with Indonesia. Both nations remain united in their mission to foster sustainable economic growth in the ASEAN community.

As the exclusive distributor for PT. Terang Dunia Internusa’s state-of-the-art electric motor products, Artronic Itech Sdn Bhd champions a shared vision of sustainability. This is evident in their collective commitment to the tenets of Environmental, Social, and Governance (ESG) principles.

Mr. Marcus Chin Choon Wei, CFO of Artroniq, stated, “Our partnership is not just about business; it’s about shared values, especially in sustainability. This aligns perfectly with our commitment to Environmental, Social, and Governance (ESG) principles, as both companies aim to reduce environmental impact and improve the quality of life for our stakeholders.”

“The upcoming event represents the culmination of our partnership, where we will unveil innovative electric motor solutions to meet the growing demand for sustainable transportation.”

At the launch, the public will have the opportunity to test drive both TX-series models such as the TX3000, which features a maximum speed of 90kmph and above. These electric bikes also serve as the official bikes of G20, having been tested and endorsed by world leaders during the 2022 G20 summit.

Artroniq Bhd: 0038 [BURSA: ARTRONIQ] [RIC: ARTR.KL] [BBG: ARTRONIQ:MK], https://www.artroniq.com/

Hyris Supports Researchers and Developers to Launch Testing Kits via New Onboarding Programs

LONDON, UK / ACN Newswire / September 27, 2023 / In the age of early mass dissemination of accessible AI solutions, many specialists and researchers from different scientific, technical and academic fields claim that AI has not yet gone far enough. According to a recent Editorial published in Nature, several research fields which need accurate and accessible data won’t achieve their full potential until they integrate adequate machine-learning systems.

Hyris Onboarding Programs With Hyris both established and emerging test developers can optimize their go-to-market by leveraging the power of AI.

Even if AI tools promise a disruption in the way researchers seek and synthesize useful new substances and tests, we are far from a wholesale revolution yet, also because of the lack of data available to feed centralized AI systems. This poses several challenges to researchers and kit developers in designing and delivering new testing solutions.

Hyris keeps true to its vision, to democratize genetics and health insights, marking a new stage in its partnership policies with newfangled onboarding programs specifically designed to further support researchers and kit developers at every stage.

“Genetic test developing and onboarding has always been faced with inherent challenges, from resource staffing to competence integration, from research funding to ensuring adequate testing volumes,” states Angelica Baccanelli, Head of Quality & Regulation at Hyris. “Adapting to variability in the compliance environment, applying requirements to molecular assays, and developing the proper documentation for the go-to-market can all pose additional risks.”

Amongst many challenges, technological access gaps are still the greatest hindrance to the development of new solutions across different industries. Hyris stands to change this for the better, by leveraging the AI capabilities of its unique genetic testing platform, renowned worldwide for its AI capabilities together with its unique features of portability, accessibility and versatility.

“Researchers and kit developers know well how hard delivering new analytical solutions can be,” continues Baccanelli. “That’s why we increased our commitment to support both emerging players and established manufacturers performing beyond their current analytical capability via new onboarding programs.” Baccanelli goes on, depicting the advantages of such an inclusive approach. “We provide access to our technology and support developers through various stages of the development of new tests via proper education and technical assistance. This win-win approach enables any player to quickly integrate their portfolio with new products and solutions, maximizing their cost per value strategy.”

Hyris’s Onboarding strategy is proving successful across many industries. Such is the case of Luminis, Water Technologies, a leader in microbiome profiling and treatment solutions, which embraced Hyris’ Program to bring on-site qPCR diagnostics to the aquaculture industry, enabling customers to quickly and accurately test for pathogens, viruses, and bacteria, ultimately improving their operations’ overall safety and productivity in such industry. Luminis adopted the Hyris system to develop new qPCR diagnostics kits, enabling its customers to perform genetic analysis on-site rather than sending samples to a lab, significantly reducing turnaround time and allowing for more informed decision-making. Additionally, on-site testing eliminates the need for expensive lab equipment, and operators can now perform testing with minimal training.

“The benefits of on-site qPCR diagnostics are numerous,” explains Lorenzo Colombo, CTO at Hyris, “ensuring faster turnaround time and reduced costs, compared to centralized diagnostic systems. On the other hand, the downsides of such an approach have been the lack of accuracy and the complexity of on-site technologies, making this approach less suitable for day-to-day operations until now. We fixed all these problems, providing highly accurate results whilst requiring minimal training to operate. Hyris can really be used in any setting, even under the harshest conditions.”

Hyris’ distributed technology allows the identification of new and arising needs, even from decentralized areas: this, in turn, enables the design and deployment of fitting solutions at a very early stage of any diagnostic trend, throughout various diverse use cases. Kit developers and lab specialists can now truly collaborate, tapping into different levels of data analysis in real-time to bring innovative tests with superior quality and increased fitness to market; dressing on the cake, all the more quickly and efficiently.

“Too often, centralized diagnostic paradigms risk overlooking local needs, preventing benefits from being shared equitably,” sums up Stefano Lo Priore, co-founder and CEO at Hyris. “This also poses an ethical question, as innovations often fail to benefit those who need them most. Reliable portable diagnostic systems are key to building new capabilities for established and emerging diagnostic service providers. By helping others to deliver their solutions, we also fulfil our mission, generating a much wider impact worldwide.”

The new Onboarding Programs are contributing to making Hyris the first choice for testing labs, test developers, and researchers looking to bring on specific tests involving smaller sample arrays, reduced time to results, and increased efficiencies and profitability.

To discover how to perform beyond your current diagnostic capability, feel free to contact a Hyris expert at info@hyris.net.

Contact Information

Gabriele Salaris, Global Experience Manager, gabriele.salaris@hyris.net +39 345 555 3379

HKTDC Export Index 3Q23: Export sentiment softens in Q3

HONG KONG, Sept 27, 2023 – (ACN Newswire) – The HKTDC Export Index fell 7.3 points to 40.5 in the third quarter of 2023, caused primarily by weak global demand, in line with weakness in exports across the region.

HKTDC Director of Research Ms Irina Fan [L] and Senior Economist Ms Cherry Yeung [R] announced the HKTDC Export Index for the third quarter of 2023 at a press conference today.

Economic risks remained exporters’ top concern. Almost half of survey respondents (48.6%) saw economic slowdowns or recession risks in overseas markets as the biggest challenge, followed by ongoing geopolitical tensions (17.9%) and a smaller-than-expected boost from Mainland China’s economic recovery (16.5%).

Despite the softened export sentiment, traders intend to adopt pro-growth business strategies to strengthen their resilience in the longer term.

Pro-growth business strategies

While increased marketing and promotional activities (41.4%) remained exporters’ key strategies in the third quarter, a significantly higher number of exporters said they plan to provide a wider range of value-added services (40.5%, up 19.2 percentage points).

The third top strategy is to stabilise finances to ensure sufficient cash flow (32%, up 4.7 percentage points). Diversifying sales to additional markets (26.3%) and increasing e-commerce activities (25.7%) were also among the five most popular strategies identified.

Hong Kong Trade Development Council (HKTDC) Director of Research Ms Irina Fan said in response to an uncertain global business environment, traders are adopting a more cautious approach. “At the same time, they are still eager to grow their businesses with proactive measures, such as stepping up marketing and promotional activities, offering more services and expanding to new markets,” she added.

Exporters tend to keep low inventory

Local exporters tended to run down on inventory (51.5) in the third quarter, suggesting they are holding slightly lower-than-normal inventory, compared with higher-than-normal stocks (48.5) in the second quarter.

Ms Fan added: “Keeping low inventory levels may mean exporters are trying to minimise the costs of holding stocks and ensure that sufficient resources are available to respond promptly to buyers’ demands.”

More than 70% of the respondents said they are currently operating at smaller-than-normal capacity in terms of manpower and production equipment.

Brighter spots

HKTDC Senior Economist Ms. Cherry Yeung said the sentiment towards all key export markets was below 50, but local exporters are more optimistic about the Asian market, being the most positive about ASEAN (41.6), followed by Japan (39.1) and Mainland China (38.6).

While export confidence was highest in the toys (42.2, down 13.2 points) and electronics (40.8, down 6.9 points) sectors, confidence levels have dropped substantially regarding timepieces (32.9, down 15.9 points).

Stable or higher export profitability expected

New orders activity also remained weak. The Current New Orders Index fell 12.5 points to 32.6 in the third quarter. However, exporters are more positive about new orders in the fourth quarter, resulting in an overall Expected New Orders Index of 46.2.

Despite that, exporters remained mostly optimistic about their operations’ profitability outlook and shared similar views as in the second quarter. The majority of respondents (61.7%) expected to see stable (34.3%) or higher (27.4%) profit margins.

Based on a quarterly HKTDC survey of 500 exporters from six major industries – clothing, electronics, jewellery, machinery, timepieces and toys – the index above 50 indicates an optimistic outlook and below 50 as pessimistic.

Two new markets – India and Taiwan – were added to provide insights into additional markets in the HKTDC Export Index for the third quarter of 2023. The study now covers seven major export markets contributing some 85% of Hong Kong’s total exports (in value terms).

Taking all these factors into account, HKTDC Research has revised its forecast for Hong Kong’s export growth this year to between -7% and -9%.

To view press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

References

HKTDC Research website: https://research.hktdc.com/en/

HKTDC Export Index 3Q23: Export sentiment softens from two-year high: https://research.hktdc.com/en/article/MTQ4NzAxNDQ3Mw

Photo download: https://bit.ly/3rvWAvS

Media enquiries

Please contact the HKTDC’s Communication and Public Affairs Department:

Jane Cheung, Tel: +852 2584 4137, Email: jane.mh.cheung@hktdc.org

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 research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

WFIS to facilitate Indonesia’s most disruptive integration of Technology & FSI

JAKARTA, Sept 27, 2023 – (ACN Newswire) – Tech innovations are transforming organizations across sectors and are especially causing massive paradigm shifts in the financial services industry. In the wake of the situation, the world’s largest archipelago is propelling forward with its digital economy and has already produced multiple fintech unicorns.

While the 90 million unbanked Indonesians are the sure catalysts behind fintech’s growth, more and more companies are now also leveraging the favorable regulatory changes brought in by Bank Indonesia and the Financial Services Authority (OJK). The latter has even launched “Master Plan for the Indonesian Financial Services Sector (MPSJKI) 2021-2025” to further favor the developments.

Imbibing the opportunities arising from Indonesia’s current situation and to provide a direct gateway to its flourishing fintech market, the country’s most reputed annual FSI event, World Financial Innovation Series (WFIS) is coming back on 24 – 25 October 2023 at The Ritz-Carlton Jakarta, Pacific Place along with an Awards & Gala Night to reward and celebrate the best of FSI.

With all major financial institutions looking to upgrade their structure with added digital offerings, Indonesia has now become a utopia for technology vendors. This is where WFIS comes across as the best fit for bridging the gap between financial institutions and technology organizations.

As for the upcoming 5th annual edition, the platform will host more than 700 technology & business heads from the leading Banks, Insurance & Micro-Finance institutions across the country. On the other side to calm the massive number of inquisitive delegates, majority of whom are seen procuring solutions every year, the platform will feature the most cutting-edge fintech solutions showcased by none other than the leading industry players.

Some of the exhibiting companies who have already confirmed their spot at the platform include Newgen, 8×8, iProov, Provenir, OutSystems, Perkasa, FEITIAN Technologies, IntellectAI, OpenText™ AI Cloud, Reward360 and others.

While expressing his views on the current status of the Financial Services Industry, one of the key speakers for the platform, Samuel Mulyono (Chief Data Protection Officer (CDPO) and Head of Cyber & Product Risk Assurance Group, Nobu Bank) stated, “While technology is an important part of digital transformation in Banking and Financial Services, solutions implemented in the past often focused on poorly designed and implemented technology resulting in high costs and limited value. Organizations often struggle to meet compliance demands and threats, and solutions are limited. I believe that today Financial Services are interconnected and related to global risks that may be inside or outside the information system. Cybersecurity and Data Privacy in Financial Services require innovation-based solutions.”

He further added, “I see that this conference is necessary for professionals who are increasingly dealing with many interconnected digital and global innovations.”

With a carefully tailored agenda, the event will also power a conference hall for companies and experts to project their thought leadership in the region and address the most pressing issues faced by the industry.

Another key speaker, Edisono Limin (Executive Director, Country Head of Channels & Digitalisation, UOB) gave a brief comment on the platform, “Attending World Financial Innovation Series is a good opportunity to absorb the latest information and knowledge from experts and help us on our digital transformation journey”.

The curation of topics for the conference has always been an important highlight. Some of the next-gen topics being covered this year include, ‘Future-proofing Indonesia’s Digital Banking Strategy’, ‘Empowering FIs with Cloud’, ‘Full-Suite Mobile Banking’, ‘Neo-Banks’, ‘Increasing Adoption of Biometrics’, ‘Transforming Banking with Low-Code No-Code’ and many others.

When asked about how Indonesia has shaped up to become one of the most favorable grounds for WFIS, Organizer & CEO of Tradepass, Sudhir Ranjan Jena expressed, “Indonesia is a live testimony to the platform’s continuous efforts towards fostering collaboration between the biggest financial institutions and the best-in-class technology providers. The active participation of key government officials, most renowned FSI personalities and the leading technology experts to forge a synergetic environment is the reason why World Financial Innovation Series returns every year to the archipelagic state.”

For more information about the event, log on to: https://indonesia.worldfis.com/

About Tradepass

Providing access to the global emerging markets, Tradepass brings together people, products and solutions to power events for unparalleled business and networking opportunities. Being the most accredited event company, it helps organizations: enter new markets, grow sales pipeline, close prospects, raise capital and identify the right solution-providers.

As a deal facilitator, Tradepass is always determined about exposing the most agile liquid growth markets, to enable all-round scalability and growth.

Media contact:
Shrinkhal Sharad
PR & Communication Lead
shrinkhals@tradepassglobal.com
+ (91) 80 6166 4401
Tradepass

Zilliqa partners with GMEX ZERO13 to launch consumer-focused carbon offset platform

LONDON, Sept 27, 2023 – (ACN Newswire) – Zilliqa, a leading layer-1 blockchain offering high-performance, high-security and low-fee solutions, today announces a partnership with GMEX Group and its initiative ZERO13, the digital climate fintech aggregation ecosystem, to launch the first-of-its-kind carbon offset platform that will transform the way that retail customers engage with corporate environmental initiatives.

Together, Zilliqa Group and GMEX ZERO13 will deliver a cutting-edge platform that uses the blockchain-based currency, EVP, to represent carbon credit offsets. When they purchase goods or services, customers of brands partnered with Zilliqa will receive EVP tokens on the Zilliqa blockchain, enabling them to offset their carbon footprint directly through funding various environmental initiatives.

Through this innovative platform, users can channel these tokens towards funding specific carbon-credit offset initiatives, granting them direct influence over which environmental projects their offsets fund. The platform empowers consumers to have a tangible input in carbon neutrality efforts and make better-informed purchasing decisions.

The EVP tokens come with programmable features, such as expiry conditions. If the EVP is not allocated to a carbon offset program by a set deadline, the token is either burned or reverted to the original owner, encouraging timely contributions to sustainability efforts.

For producers of carbon credits, this system not only amplifies the visibility of their projects but also introduces an innovative way to garner support and raise funds. The platform acts as a bridge, digitally connecting these initiatives with conscious consumers eager to contribute to tangible environmental solutions.

The platform offers businesses an opportunity to lead in corporate sustainability, providing complete transparency in how they – and their customers’ – carbon offsets are allocated. In a market that is increasingly environmentally aware, this boosts consumer trust and strengthens brand credibility.

The partnership leverages the combined strengths of Zilliqa Group’s integrated vertical infrastructure and eco-friendly blockchain and GMEX’s multi-asset trading capabilities to create a seamless, transparent, and responsible platform. It builds upon GMEX’s existing services, including its integration with ZERO13, an automated AI and blockchain-driven international carbon exchange, registry and aggregation hub and asset settlement network ecosystem.

Speaking on today’s announcement, Zilliqa Group CEO Matt Dyer, said:

“In the age of information and digital transformation, our partnership with GMEX ZERO13 represents a conscious step towards a greener future. Through this platform, every individual can be a stakeholder in the global fight against climate change. By bridging the gap between carbon credit producers and environmentally conscious consumers, we are ushering in a new era of sustainability. Leveraging Zilliqa’s eco-friendly blockchain, we aim to redefine the consumer experience, making carbon offsetting not just accessible but also engaging and empowering.”

Also commenting, GMEX Group and ZERO13 Chairman & CEO Hirander Misra, said:

“The current way of transacting carbon credits is opaque, manual and fragmented, and has to change to instill trust in the market in a way that both businesses and their consumers can align more effectively to create tangible positive impact to address climate change.” He added, “Our partnership with Zilliqa helps achieve exactly that to transparently digitally connect high quality supply side projects with consumer led and associated corporate demand in a way that restores trust in the market and introduces innovation not previously seen.”

Also commenting, Zilliqa Group Chairman Mark Hemsley added:

“The collaboration between Zilliqa and GMEX ZERO13 brings to the fore a transformative solution in the climate tech domain. We are not just setting new benchmarks for corporate sustainability but also democratizing the process of carbon offset. Our vision at Zilliqa has always been to drive impactful technological solutions. The era of passive consumerism is behind us and our partnership with GMEX ZERO13 crystallizes this vision, offering a direct, transparent and impactful way for consumers to play a part in the larger environmental narrative.”

About Zilliqa Group

Zilliqa Group provides world-class Web3 and blockchain infrastructure as its core. The Group’s mission is to facilitate industries, governments, and entrepreneurs’ seamless transition into Web3 and the spatial web, delivering secure and sustainable solutions that drive the creation of immersive products and experiences.

About Zilliqa blockchain

Zilliqa is a high-performance, high-security, and low-fee layer-1 blockchain platform. Engineered by The Zilliqa Group, the blockchain serves as a versatile foundation that facilitates a broad array of web3 applications and services across a multitude of sectors, providing a robust platform for emerging developers and established enterprises alike.

About GMEX Group

GMEX Group (GMEX) offers sustainable digital solutions for the new age of global markets. The firm is a leading global provider of multi-asset exchange trading and post-trade software/software as-a-Service (SaaS) market infrastructure solutions and ‘network of networks’ digital platform services. GMEX addresses end-to-end regulatory and contract environment needs for issuance, trading, clearing and settlement across exchanges and across multiple asset classes including traditional, digital and hybrid assets, as well as digital carbon credits and ESG real-world assets.

About ZERO13

ZERO13, a venture by GMEX, is an automated AI and blockchain-driven international carbon exchange, registry and aggregation hub ecosystem. The ZERO13 Hub provides a Platform-as-a-service, which offers a distributed point of entry for digital issuance, trading and settlement of carbon credits and real-world assets such as ESG securities. ZERO13 Hub connects multiple international carbon exchanges, registries, custodians and ESG project owners globally for supply verification, transparent pricing and real-time settlement using APIs and across blockchains enabled by ZERO13 Chain (‘Pyctor’).

Press Contacts:

For Zilliqa
Alex Speirsaspeirs@zilliqa.com

For GMEX Group and ZERO13
Alice Ellman-Brown, The Realization Group
alice.ellman-brown@therealizationgroup.com
+44 (0)7365 224804
pr@gmex-group.com

Legend Capital Portfolio Company TUHU Car Lists on the Main Board of the HKEX Successfully

Hong Kong, Sept 27, 2023 – (ACN Newswire) – On September 26, Legend Capital’s portfolio company, TUHU Car (9690.HK), was successfully listed on the main board of the Hong Kong Stock Exchange.

Founded in 2011, TUHU Car is a leading integrated online and offline platform for automotive service in China. By providing a digitalized and on-demand service experience underpinned by the customer-centric model and streamlined supply chain, TUHU Car directly addresses car owners’ diverse product and service needs, creating an automotive service platform consisting of car owners, suppliers, automotive service stores and other participants. TUHU Car’s platform serves most of the passenger vehicle models sold in China, fulfilling a wide spectrum of automotive service demands ranging from tires and chassis parts replacement to auto maintenance, repair, detailing, and more. By providing sporadic automotive service demands onto one platform, customer engagement is significantly increased as compared to the traditional offline automotive service model that is highly dependent on localized service demands.

According to the CIC Report, as of the first half of 2023, TUHU Car had more than 100 million registered users on their flagship “TuHu Automotive Service” app and online interfaces. The company had over 18 million transacting users in the last twelve months ended June 30 2023. With the growing service network, TUHU Car has 5,129 TUHU Workshops and over 20,000 partner stores across China, covering a majority of prefecture-level cities and making the company’s platform the largest car owner community amassed by automotive service providers in China. According to the CIC Report, China’s automotive service market reached RMB1.2 trillion in 2022 and is expected to reach RMB1.9 trillion in 2027. As a necessity for daily life and travel, automobile services have the characteristics of recession-resilient and steadily growing.

Legend Capital has long supported TUHU Car’s development as one of the company’s early investors. Legend Capital exclusively invested in TUHU Car’s Series A financing in 2014 and subsequently made additional investments in the company in its multiple rounds of financing from 2014 to 2020.

China’s automotive service market was still in an extremely early stage when Legend Capital initially invested in TUHU Car. At the beginning of the investment cooperation, TUHU Car only had 27 employees, with its office set up in a warehouse and 50 offline partner stores, and the model of “online order + offline installation” pioneered by TUHU Car had just started in Shanghai. After the investment, Legend Capital assisted the company in completing subsequent multiple rounds of financing and provided support and assistance in strategic planning, management operations, team incentives, and business resources, accompanying the company to grow into a leading integrated online and offline platform for automotive service in China.

As a valuable partner of TUHU Car, Legend Capital would like to congratulate the company sincerely: “Congratulations to TUHU Car and its team on the successful listing. Legend Capital has long been focusing on the empowerment of technology and Internet technology in traditional industries. China’s automotive service market has huge room for development, and TUHU Car has demonstrated a high growth rate in its business after years of development and accumulation. Over the nine years of investment cooperation between Legend Capital and TUHU Car, a deep friendship has been established between us. We are inspired by the company’s management team for the relentless efforts in leading TUHU Car towards success and continuously creating value, and we also greatly admire the TUHU Car team for seizing the opportunity to cut into the automotive service market from Internet applications in the early stages of industry development and achieving rapid growth of the company. The listing is believed to enhance TUHU Car’s brand and supply chain advantages further, continuously solidifying the company’s leading position in the industry.”

About Legend Capital

Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital.

The article is distributed by Ever Bloom (HK) Communications Consultants Group Limited on behalf of Legend Capital.

For further information, please contact:

Ms. Orianna Ou / Ms. Arina He

Tel: +852 3468 8171

Email: legendcapital.list@everbloom.com.cn