Chuncheng Heating Maintains High-Quality Development in 1H2023, Net profit Increases 95.9% year-on-year to RMB125 Million

HONG KONG, Sep 5, 2023 – (ACN Newswire) – Jilin Province Chuncheng Heating Company Limited ("Chuncheng Heating" or the "Group"; stock code: 1853), the largest heating service provider in Jilin Province, announced its interim results for the six months ended 30 June 2023 ("1H2023" or the "Period").

Financial Performance
During the Period, thanks to the increase in revenue from the heat supply business, the Group's total revenue was RMB898 million, up by 1.2% over the same Period last year. Gross profit increased significantly by 77.2% to RMB226 million, primarily due to decrease in heat procurement costs, coal procurement, labor workers as well as utilities costs, etc. Gross profit margin was at 25.1%. During the Period, with lower heat procurement cost, the establishment of the energy-saving and consumption reduction long term management mechanism to reduce energy consumption, together with optimizing the intelligent heat network control, the net profit attributable to equity holders of the Company surged 95.9% to RMB125 million. Net profit margin was 13.9% with earnings per share at RMB0.27.

Business Review
During the Period, the Group adhered to the concept of high-quality development. It continued to improve its management system for heat supply production and enhanced the level of applying intelligence in heat supply business. Besides, the Group actively responded to targets of the dual-carbon emission reduction and the work requirement of clean heating, as well as continued its cogeneration-led heat supply. During the Period, the Group's revenue generated from heat supply business was RMB879 million, up by 2.1% year-on-year. Its heat service area was up 5.0% to 65.136 million square meters. As for the number of users, the Group had 533,138 heat supply users, increased by 4.6% year-on-year, among which, the number of residential and non-residential users increased by 4.3% and 7.3% year-on-year respectively.

In terms of construction, maintenance, design services and others business, it mainly provides services such as construction and building of heat supply facilities, engineering maintenance and project design for users. Its revenue generated was RMB19 million during the Period. In 1H2023, the engineering construction business undertook 32 projects while the design services business undertook 7 design projects. The Group continued its cooperation with tertiary educational institutions in researching cutting-edge technologies in the industry. Currently, 7 research projects are conducted in cooperation with the Jilin Provincial Science and Technology Department and tertiary educational institutions.

In terms of research & development ("R&D"), the Group newly obtained 6 utility model patents issued by the China National Intellectual Property Administration and 5 computer software copyright certificates issued by the National Copyright Administration during the Period.

Mr. Sun Huiyong, Chairman of Chuncheng Heating, said, "In 1H2023, we actively enhanced resource allocation and implemented intensified energy conservation measures to promote high-quality development of heat supply and production businesses, allowing us to accomplish various tasks. Entering the second half of the year, the Group will focus on the target to improve the quality of heat supply and reduce energy consumption. To achieve this, we plan to carry out digital intelligence integration projects for heat supply through making full use of the AI intelligent heat supply algorithm technology, in a bid to practically improve the efficiency in the utilisation of energy and enhance the heat supply operating efficiency. Looking ahead, we will continue to closely monitor the economic development landscape and industry trends while promote the mixed ownership reform within state-owned enterprises. We will also deepen the innovation and R&D of intelligent heating systems, further enhance market share. Besides, we are aiming to utilize the comprehensive efforts of multiple fronts such as efficiency enhancement and brand building to drive the Group's business to the next level, creating ideal investment returns for shareholders."

Jilin Province Chuncheng Heating Company Limited (stock code: 1853)
Established in 2017, Jilin Province Chuncheng Heating Company Limited has 11 holding subsidiaries and 13 heat supply divisions, covering a business scope of heating services, heat transmission services, engineering construction, equipment maintenance, design and research, electrical instrument maintenance etc. As of June 30, 2023, the Group's heat service area covered 65.136 million square meters, providing heating for about 530,000 residential and non-residential users. The Group was listed on the Main Board of the Stock Exchange of Hong Kong Limited under the stock code "1853", becoming the first heating stock in the Hong Kong capital market.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Fosun International Announces 2023 Interim Results: Leveraging Innovation to March Towards High-quality Development

HONG KONG, Sep 5, 2023 – (ACN Newswire) – In the first half of 2023, as the economy and society fully returned to normalcy, macroeconomic policies started to take effect, and the national economy witnessed recovery and growth, China's gross domestic product (GDP) reached RMB59,303.4 billion, representing a year-on-year increase of 5.5%. As an emerging force in promoting modernization in China, private companies listed on major exchanges have recently announced interim results, demonstrating resilience and vitality in marching towards high-quality development.

On 31 August 2023, Fosun International held its 2023 interim results presentation. Centering on high-quality development, Fosun International had an in-depth exchange on corporate strategy, operational indicators, innovation progress, global operations, ESG and other issues of external concern. According to the interim results announced on 30 August, in the first half of 2023, Fosun achieved total revenue of RMB97.06 billion, representing a year-on-year increase of 10.9%; industrial operation profit surged 66% (excluding the effects of asset disposed) year-on-year to RMB3.37 billion; profit attributable to owners of the parent was RMB1.36 billion. Meanwhile, Fosun continued to optimize its capital and asset structure, and maintained sufficient liquidity. Compared with the same period in 2022, the Group's total debts at the consolidated level dropped significantly by more than RMB40.0 billion; total debts to total capital ratio further dropped to 51.8%. Its high-quality and robust performance and financial indicators have laid a solid foundation for Fosun to further seize new opportunities for high-quality development.

"It is very clear that we have won out over the cycle and Fosun's liquidity pressure has been well managed. We will focus on the development of businesses where we boast clear competitive advantages. Development is the key solution to all issues." Guo Guangchang, Chairman of Fosun International, said, "Since the beginning of this year, China has continued to issue favorable policies, especially the introduction of the 31-measure guideline to bolster private economy, providing guidance for the high-quality development of private enterprises. We believe that as the economy continues to recover, Fosun, which is committed to innovation-driven development and global operations, will set sail again and embark on a new phase of high-quality development."

The first batch of the "world's firsts" and "China's firsts" achieve breakthroughs

Innovation has always been the "core engine" that drives the development of Fosun and the key to leading Fosun towards high-quality development.

The interim results announcement shows that Fosun's long-term accumulation of technology innovation capabilities is continuously being transformed into batches of the "world's firsts" and "China's firsts" industrial achievements. HANSIZHUANG (serplulimab injection), the first biopharmaceutical innovative drug self-developed by Shanghai Henlius, has been approved for three indications in China, and has become the world's first monoclonal antibody drug targeting PD-1 for first-line treatment of extensive-stage small cell lung cancer; HANQUYOU (trastuzumab injection) has been accepted by the U.S. Food and Drug Administration (FDA) for the marketing authorization application (MAA) in the U.S., and it is expected to become the first domestic biosimilar approved in China, the U.S. and Europe.

Founded in 2010, Shanghai Henlius is an innovative biopharmaceutical platform under Fosun. At that time, Fosun proactively deployed the biopharmaceutical industry and remained committed to the path of independent innovation. After 13 years of accumulation, Shanghai Henlius, as a Chinese technology innovation enterprise, has opened up a new world in the international biopharmaceutical field. At present, Shanghai Henlius has launched five self-developed products on the market, reaching more than 40 markets around the world and benefiting more than 450,000 patients. In the first half of 2023, Shanghai Henlius accelerated the commercialization of core commercial products such as HANSIZHUANG and HANQUYOU, driving Shanghai Henlius' revenue to grow 93.9% year-on-year and helping Shanghai Henlius turn profitable for the first time in half a year, with a net profit of RMB240 million.

Innovation is inseparable from the continuous investment of capital, talents and technology. Data shows that in recent years, Fosun has continued to step up its R&D investment. Fosun invested RMB4.2 billion in technology innovation in the first half of the year, representing a year-on-year increase of 20%. Fosun's continuous investment in technology innovation has allowed it to reap results in various fields.

In June 2023, Fosun Kite's first CAR-T cell therapy Yi Kai Da (ejilunsai injection) obtained conditional approval from the National Medical Products Administration (NMPA) for marketing for the treatment of second-line indications, at present, such Yi Kai Da has come into use in hospitals in Hubei, Anhui, Guangdong, Henan and other provinces and cities, bringing hope of cure to more lymphoma patients who have failed first-line immunochemotherapy or relapsed.

Intuitive Fosun's headquarters and industrialization base project, which started construction in August last year, is accelerating the localized production of international cutting-edge medical devices. In June this year, Intuitive Fosun's application of the "Thoracic And Abdominal Endoscopic Surgical System" (domestic da Vinci robotic surgical system) has obtained the domestic medical device registration approval by the NMPA indicating that the domestic da Vinci robotic surgical system will soon be launched. In the future, Intuitive Fosun's base with a total investment of more than RMB700 million will gradually realize "Made in China, Joint Research & Development, Global sales" of the da Vinci robotic surgical system and other robotic system.

Easun Technology, Fosun's core intelligent manufacturing enterprise, is the world's leading provider of industrial automation and digital intelligent technology solutions. In the first half of 2023, Easun Technology independently developed core machine vision technologies to break the monopoly of the market, and that it was also capable of autonomously controlling and managing these technologies. It had developed software and hardware solutions that enabled the precise and intelligent matching of a vehicle body. The first set of relevant equipment in China was rolled out. In July this year, FFT, a subsidiary of Easun Technology, was recognized as a national specialized, sophisticated, distinctive, and innovative "little giant" for its continuous innovation capabilities.

Go global, global operations mutually empower industrial advancement

Going global to expand overseas business is an important aspect to achieve high-quality development.

The globalization journey of Fosun started in 2007 when Fosun International was listed in Hong Kong. After 16 years, its leading model of "global organization + local operations" has become more mature. It has established business presence in more than 35 countries and regions, and has more than 40 overseas brand enterprises and 100,000 employees worldwide.

Its interim results announcement shows that leveraging its strong global operational capabilities, overseas business has become an important driving force for Fosun's development. In the first half of 2023, overseas revenue amounted to RMB44.09 billion, accounting for 45.4% of total revenue.

The results of the "mutual empowerment" of Fosun's global operations have further emerged. Easun Technology, headquartered in Shanghai, China, recorded a significant increase in overseas orders. In particular, it saw robust growth in business operations in North America. New orders reached RMB1.38 billion in the first half of 2023, representing a year-on-year increase of 131.2%. Club Med, a French resort brand under Fosun Tourism Group (FTG), operates 66 resorts around the world. In the first half of 2023, Club Med achieved record-high performance, with business volume amounting to RMB7.94 billion, representing an increase of 32.2% over the same period in 2022. The first resort of Club Med's new product line, Club Med Urban Oasis, is expected to open in Xianlin, Nanjing in the second half of the year.

With the empowerment of Fosun's global ecosystem, more member companies and time-honored Chinese brands are accelerating their push to go global.

Since the beginning of this year, the campaign of "Shede Spirits Sharing Shede's Wisdom with the World" has been successively held in seven countries including Italy, Germany, and France, and its star products have been exported to Europe, East Asia, North America and other places. Shede aged spirits and its oriental wisdom have received wide recognition from the overseas markets. Tuopai has become the global partner of Wolverhampton Wanderers F.C., a veteran team in the Premier League, establishing emotional and cultural resonance with fans around the world. Seagull Watch has expanded overseas markets through digital platforms, and the sales of many products have doubled year-on-year; Laomiao has partnered with famous French designers to promote Chinese jewelry products to the world with design as the universal language.

It is worth mentioning that since the 28th Yuyuan Garden Lantern Festival became widely known on overseas social media, the Yuyuan Garden Lantern Festival will make its overseas debut from the end of this year to the beginning of next year, the event will take place in Paris, France and Shanghai, China simultaneously to promote cultural exchanges between China and France.

Actively fulfill corporate responsibility to jointly build the Belt and Road

Founded 31 years ago, Fosun has always been adhering to the corporate values of "Self-improvement, Teamwork, Performance and Contribution to Society". While creating business value, it actively fulfills social responsibility and examines its sustainable development capabilities and levels with high standards.

On the eve of the Spring Festival this year, the COVID-19 epidemic spread to vast rural areas in China. Fosun Foundation, together with Fosun Pharma and Genuine Biotech, carried out the "A Healthy Winter Action" campaign to donate Azvudine tablets to 250 counties and cities across the country, helping the grassroots weather the epidemic during the New Year.

Since its launch at the end of 2017, Fosun Foundation's Rural Doctors Program has covered 74 counties in 16 provinces, municipalities and autonomous regions, supporting nearly 24,000 rural doctors and benefiting 3 million grassroots families. In February 2023, the Rural Doctors Program received the "Shanghai Charity Award", the highest government prize in the field of philanthropy in Shanghai.

In addition to rural revitalization, Fosun combines its industrial advantages to continue to carry out public welfare activities in the fields of culture, education, art, youth entrepreneurship and employment.

As an official member of the global cooperative initiative for "malaria elimination" advocated by the World Health Organization (WHO), Fosun Pharma's independently developed and manufactured Artesun (artesunate for injection) has entered Africa through the Belt and Road initiative and became a great example of China "assisting Africa in fighting against malaria". To date, it has treated more than 56 million severe malaria patients worldwide. In June 2023, Argesun, the second-generation artesunate for injection became the first artesunate injectable with the WHO prequalification, which will further enhance the accessibility of innovative antimalarial drugs and save more lives.

Fosun's outstanding performance in ESG has been recognized by many sectors of society and institutions at home and abroad. In June this year, Fosun International was listed among "China's Top 100 ESG Listed Companies", ranking fifth overall. Fosun International received a MSCI ESG rating of AA and was the only conglomerate in Greater China with such rating.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Mainland businesses look to Hong Kong to secure global success

HONG KONG, Sep 5, 2023 – (ACN Newswire) – Some 90% of Mainland China-based companies planned to expand their level of international business activity in the next one to three years, in line with the national drive to "go global". This commitment was highlighted in Hong Kong as the Premier Platform for Mainland Companies to Expand to BRI and RCEP Markets, a major survey released today (5 September 2023) by the Hong Kong Trade Development Council (HKTDC).

Wing Chu, Principal Economist (Greater China Research Team) of HKTDC (left); and Irina Fan, Director of HKTDC Research

More than 70% of these firms focused on countries that were Regional Comprehensive Economic Partnership (RCEP) signatories or Belt and Road Initiative (BRI) beneficiaries. Tellingly, the findings also showed that more than 60% of mainland enterprises preferred engaging Hong Kong-based professional service providers to ensure successful international expansion.

Commenting on the survey findings, Irina Fan, Director of HKTDC Research, said: "This survey more than confirms Hong Kong's status as a 'super-connector', one uniquely well-positioned to help mainland companies make good on their global expansion plans. Within the shifting global economic landscape, Hong Kong's well-established business platform remains a preeminent resource. The city's extensive array of premium financial and professional services and comprehensive international network make it the perfect partner for any business looking to optimise its outcomes within the RCEP region, along the BRI routes or, indeed, pretty much anywhere else in the world."

Expanding on the survey's findings, Wing Chu, Principal Economist with HKTDC Research, identified four key areas in which mainland businesses planned to expand overseas operations. Mr Chu, who heads the Greater China Research Team and had overall responsibility for the survey, said: "The four priority expansion areas appear to be logistics and transport, as singled out by 28.8% of respondents, marketing and sales (26.9%), factories (23.3%) and overseas procurement (15.9%).

"Drilling down into the findings, the survey also shows that 62.1% of expansion-minded mainland companies favour Hong Kong as a source of professional-service support, while only 47.7% would opt for mainland service providers. In more specific terms, most Greater Bay Area-based businesses designated Hong Kong as their preferred service provider locale, while their Yangtze River Delta counterparts divided their needs more or less evenly across Hong Kong and Shanghai."

Responding to another finding, which showed 83.9% of survey participants were driven to expand internationally by concerns over long-term viability of their traditional markets, Ms Fan said: "Geopolitical tensions, falling demand and economic uncertainties have all reduced confidence in many of the traditional overseas markets. As a result, 71.6% of expansion-oriented mainland businesses are targeting one or more of the 14 overseas RCEP member nations, while 64.3% expressed interest in venturing into the emerging markets along the routes of the BRI and beyond, including those located in the Middle East, Central and Eastern Europe, South America or Africa."

Survey methodology and remit

Between May and July this year, HKTDC Research surveyed 791 mainland enterprises operating primarily in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the Yangtze River Delta region. The survey had two primary objectives – improve understanding of the overseas expansion plans of participating businesses and build up a clearer picture of diverse challenges they face.

To gain a wider perspective, HKTDC Research also conducted in-depth interviews with recognised experts in many of Hong Kong's professional service industries, including representatives of the legal and financial sectors. The consensus was that the many areas in which Hong Kong could boost outward-bound mainland businesses included negotiating with overseas partners; overseeing legal, investment and general business arrangements; financing arrangements, providing project valuations and meeting due-diligence obligations, as well as assisting with tax planning, risk management and compliance with overseas regulatory requirements. It was also noted that Hong Kong offered exemplary international and regional logistics services and possessed unrivalled expertise when it came to ensuring products / services complied with a wide range of overseas standards and legal obligations.

The Eighth Belt and Road Summit

To fully capitalise on the many emerging BRI opportunities and celebrate the 10th anniversary of the programme, the eighth edition of the Belt and Road Summit, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the HKTDC will take place at the Hong Kong Convention and Exhibition Centre (HKCEC) on 13 and 14 September (Wednesday and Thursday) The Summit fully aligns with the objectives of China's 14th Five-Year Plan, which emphasises the key roles Hong Kong and Macao are set to play in the ongoing rollout of this vast infrastructure development and trade facilitation programme.

The Belt and Road Summit will assemble more than 80 key officials and business leaders from many of the countries and regions along the BRI routes, as well as investors, project stakeholders, operators and service providers from around the world. Together, they will provide an overview of the programme's landmark achievements throughout the past decade and detail many related future investment and business opportunities, while showcasing the unique benefits of the Hong Kong platform.

References
– HKTDC Research Portal: https://research.hktdc.com/en/
– Hong Kong as the Premier Platform for Mainland Companies to Expand to the BRI and RCEP Markets [Only Chinese versions are available]: https://research.hktdc.com/tc/article/MTQ3MTQ1NjU4OA
– Photo Download: https://bit.ly/47XHeAz

The Eighth Belt and Road Summit

Date: 13 and 14 September 2023 (Wednesday and Thursday)
Venue: Hall 5B-E, Hong Kong Convention and Exhibition Centre, Wan Chai
Remarks: Video and audio recordings at the forum should be used only in the context of media reporting
Media Registration: Please contact awong@yuantung.com.hk or ayiu@yuantung.com.hk for media registration
Websites:
– Belt and Road Summit: https://www.beltandroadSummit.hk/conference/bnr/en
– Programme: https://www.beltandroadSummit.hk/conference/bnr/en/programme
– Speaker list: https://www.beltandroadSummit.hk/conference/bnr/en/speaker

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

Media enquiries
Yuan Tung Financial Relations:
Anson Wong, Tel: +852 3428 3413, Email: awong@yuantung.com.hk
Louise Song, Tel: +852 3428 5691, Email: lsong@yuantung.com.hk
Agnes Yiu, Tel: +852 3428 5690, Email: ayiu@yuantung.com.hk

HKTDC's Communications & Public Affairs Department:
Jane Cheung, Tel: +852 2584 4137, Email: jane.mh.cheung@hktdc.org
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

FXGT.com Launches 1st Official Trading Competition

NEW YORK, NY, Sept 5, 2023 – (ACN Newswire) – FXGT.com has revealed full details about an exciting new trading competition set to take place during the months of September and October 2023.

Registrations are now open for the 1st Official Trading Competition, in which traders from across the world will compete against each other for a chance to reach the highest Return on Investment (ROI) and Profit and Loss (PnL) ranking in a bid to be crowned as one of the 50 winners.

The contest will run from September 20th at 00:00 GMT+3 server time and end on October 10th at 23:59 GMT+3 server time.

Clients can register for the competition between September 4th and September 18th by meeting the relevant entry requirements prior to the competition getting underway.*

After meeting the initial minimum account balance requirement, traders can top up their account as much and as many times as they wish.

At the end of the competition, 50 participants will be rewarded, with 45 winners based on their Return on Investment (ROI) ranking and an additional 5 winners who will be determined based on their Profit and Loss (PnL). The prize pool of $35,000 will be distributed and directly credited to the live trading accounts of the winners as balance.

“We are delighted to announce the launch of our 1st Official Trading Competition, which presents successful traders with the chance to compete for big money prizes”, said Constantinos Pavlides, CMO at FXGT.com. “We believe in offering the very best rewards to our loyal clients, which is why specifically designed the competition to reward as many traders as possible, linking back to our central goal of empowering traders with competence and a peace of mind that allows them to trade their way. Registrations are now open, so don’t forget to sign up and be in with a chance of becoming a winner. Good luck to all of those taking part. Happy trading!”

*To qualify for the competition, clients need to have an FXGT.com live MT4 or MT5, PRO or ECN trading account and a minimum funding amount of $200. Clients can open an FXGT.com account in just minutes by clicking here (https://fxgt.com/tradingcompetitions/ib/1st-official-global-competition/).

About FXGT.com

FXGT.com is an established, award-winning, fully regulated, and licensed online broker. It operates in markets across the Middle East, Africa, and Asia, with a growing presence in other regions, serving clients worldwide.

It offers choice to traders through a wide range of tradable asset classes and instruments, with reliable and fast execution, across a broad selection of account types on the MT4 and MT5 trading platforms.

Moreover, FXGT.com presents an impressive array of trading tools, market insights, technical analysis, and much more to clients, who can also benefit from accessing attractive and generous bonuses, including Welcome and Loyalty bonuses.

Lastly, the brand has a reputation for ensuring the strong protection and security of funds by keeping clients’ funds separate. FXGT.com is a regulated broker that is licensed by the FSA, FSCA, VFSC, and CySEC (institutional clients only) and it is trusted by traders worldwide for its robust risk management policies and procedures, which includes allowing anytime withdrawals from clients’ accounts.

Social Links

Instagram: https://www.instagram.com/fxgtcom/

Facebook: https://www.facebook.com/people/FXGTcom/100090248558543/

LinkedIn: https://www.linkedin.com/company/37062744/admin/

YouTube: https://www.youtube.com/channel/UCEmbthlmUEn4z6PeFh_-yUQ

Tiktok: https://www.tiktok.com/@fxgt.com?lang=en

Media contact

Media team, FXGT.com

Email: community@fxgt.com

Website: https://fxgt.com/

SOURCE: FXGT.com

PLN Signs Cooperation with TANESCO to Develop Electricity Ecosystem in Tanzania

JAKARTA, Sep 4, 2023 – (ACN Newswire) – Tanzania Electric Supply Co. Ltd. (TANESCO), a parastatal company incorporated in 1931, has adopted a business transformation implemented by Indonesian state-owned electric company PT PLN (Persero). Aiming to carry out similar developments in Africa, TANESCO agreed to a business cooperation with PLN.

PLN President Director Darmawan Prasodjo and TANESCO Managing Director Maharage Chande signing the MoU in Dar Es Salaam, Tanzania, on August 22. Indonesian President Joko Widodo and Tanzanian President Samia Suluhu Hassan look on. (Image: PTN)

The agreement was marked by the signing of a Memorandum of Understanding (MoU) between President Director of PLN, Darmawan Prasodjo and Managing Director of TANESCO, Maharage Chande, in the presence of Indonesian President, Joko Widodo and Tanzanian President, Samia Suluhu Hassan in Dar Es Salaam, Tanzania, on August 22.

The signing of an MoU between PLN and TANESCO signifies a significant milestone in the field of international business cooperation. This agreement entails the adoption of PLN's successful business transformation model by TANESCO, ultimately demonstrating PLN's intention to expand its presence in the global market.

President Director of PLN Darmawan Prasodjo explained that the MoU was a follow-up to a previous meeting in Jakarta on February 10, 2023, with Tanzania's Minister of Energy, January Makamba and TANESCO Management, regarding a cooperation with Indonesia in developing Tanzania's electricity sector ecosystem.

Darmawan added the MoU specifically outlines four key areas of collaboration. First, it highlights the importance of digital-based transformation, indicating a joint effort to embrace technology and innovation to enhance efficiency and reliability in power supply services, such as Digitalized Power Plant, Digitally Enabled Distribution Excellence, and Super App utility.

Secondly, the MoU emphasizes the development of the core utility business which includes which includes Maintenance, Repair, and Operation (MRO), and Collaborative Co-investment.

The third point of cooperation focuses on the development of non-core utility businesses such maintenance, repair, and operations (MRO).

Finally, the MoU highlights the importance of capacity building and comprehensive exchange through an internship program between PLN and TANESCO. This initiative aims to facilitate knowledge transfer and skill development between the two companies, fostering a culture of mutual learning and growth.

"PLN has experiences and success stories that can be shared and implemented in Tanzania, especially in terms of human resource management, transformation and digitalization in the electricity sector. For this reason, we will do our best effort in this cooperation, because PLN's success will also be an achievement for Indonesia," Darmawan said.

Managing Director of TANESCO, Maharage Chande said the business transformation steps taken by PLN can be adopted by TANESCO to make the electricity system in East Africa, especially Tanzania more reliable and sustainable. This cooperation is also to achieve a common goal towards Net Zero Emission (NZE).

"PLN is a very well-known electricity company in the global arena. This cooperation opens up opportunities for business expansion and also strengthens bilateral relations between the two countries as well as between companies," said Maharage Chande.

Overall, the signing of this MoU not only solidifies the partnership between PLN and TANESCO but also underscores the importance of international collaboration in the field of energy. By leveraging PLN's successful business transformation model, TANESCO aims to enhance its operations and service delivery, ultimately contributing to the economic growth and development of Tanzania.

About PLN
PT PLN (Persero) is a state-owned electricity company that continues to be committed and innovative in carrying out a mission to illuminate and move the nation. With a vision to become the leading electricity company in Southeast Asia, PLN is moving towards becoming the number one choice for energy solutions. PLN is committed to transformation with aspirations of being Green, Lean, Innovative, and Customer Focused to provide electricity for a better life. PLN can be contacted through the PLN Mobile application available on PlayStore or AppStore. https://web.pln.co.id/

Contact:
Gregorius Adi Trianto
Executive Vice President, Corporate Communications & CSR, PLN
Tel. +62 21 7261122
PT. Perusahaan Listrik Negara (Persero) [IDX: PLN]

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Major Shareholder of China Power (2380.HK) Invests Over HK$280 Million to Increase Stakes by Over 100 Million Shares

HONG KONG, Sep 4, 2023 – (ACN Newswire) – In response to recent stock price fluctuations, State Power Investment Corporation Limited (SPIC), the major shareholder of China Power International Development Limited (2380.HK) (the "Company"), believing in the prospect and value of the Company, undertook a series of strategic purchases of the Company's shares. Over the past three trading days, SPIC substantially increased its equity holding in the Company by a total of more than 100 million shares, involving a noteworthy investment amount exceeding HK$280 million. This demonstrates SPIC's resolute commitment to stabilizing the Company's share price and safeguarding the interests of shareholders as a whole, as well as its robust confidence in the Company's future.

Recently, the Company has received favourable ratings from prominent financial institutions such as HSBC, Citibank, and Changjiang Securities. Market holds the view that SPIC has a strong desire to build its flagship listing platform. The series of capital transactions in the Company in fact reaffirms the Company's stature as SPIC's flagship stock. With outstanding results made in the first half of the year, the Company's strategies were in place at such a fast rate surpassing market expectations. Therefore, market is highly optimistic about the Company's value appreciation and investment opportunities during the "14th Five-Year Plan" period.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Air India Express unveils vision and differentiators, charting the path ahead in the run up to its brand launch

SINGAPORE, Sept 4, 2023 – (ACN Newswire) – Air India Express today unveiled the vision for the organisation that would be formed with the merger and integration with AIX Connect, currently operating as AirAsia India. The airline also charted the path forward, building on the key milestones already achieved as part of the Air India Group’s ongoing 5-year transformation journey, Vihaan.AI.

The vision and key differentiators build on the shared brand purpose of Air India and Air India Express, ‘to transform a national institution into national inspiration‘. Aloke Singh, Managing Director, Air India Express and AIX Connect, articulated the airline’s Vision ‘to inspire new possibilities and make meaningful connections with unmatched warmth‘ in a town hall to employees of both airlines, elaborating on the focus areas of integration, growth and transformation, the inflection point that the airline is on, and the aspirations and ambitions for growth.

Talking about the vision, differentiators and path ahead, Aloke Singh, Managing Director, Air India Express and AIX Connect, said, “Our resolute vision encapsulates our key differentiators – making meaningful connections, delivering unique experiences and providing best-in-class value with Indian warmth. Our ambitions will ride upon our huge fleet and network expansion, in the domestic India market as well as short-haul international region – Unlocking synergies with the merger of the two entities, and network integration with Air India; Growth and expansion, for a meaningful market presence as well as cost-efficiencies; and Achieving excellence in all areas, becoming a preferred brand for a confident new India.”

The differentiators detail the airline’s business model and brand promise in the run up to the brand launch of Air India Express, expected to be unveiled within the next couple of months:

Meaningful Connections: Nurture ‘meaningful connections’ that transcend borders, bringing people, communities, and cultures closer together, to embody the spirit and diversity of India, making every journey a delightful and memorable travel experience.

Unique Experiences: Curate and deliver ‘unique experiences’ with unmatched Indian warmth, leveraging technology to make journeys frictionless and personalised. The product offerings and service experience will embody the warmth of Indian hospitality, with services like Gourmair, the airline’s award-winning in-flight dining brand, curated to cater to diverse culinary preferences with a wide range of regional and healthy hot meals and lite bites.

Best-in-Class Value: The pursuit of ‘best-in-class’ value goes beyond the fundamentals of cost and business model, offering customisable and relevant services for each guest and journey, based on their preferences and aptitude, while retaining consistent and reliable operational efficiency.

Specific projects have been identified to achieve these aspirations, focussing on enhancing the guest experience, optimising the network for market dominance, streamlining operations with a digital-first approach, fostering talent with an innovative and winning culture, and creating value for all stakeholders through sustainable practices, transparent decision-making, and prudent governance.

Earlier this year, AIX Connect and Air India Express launched the unified website, airindiaexpress.com, allowing users to book and manage services from both airlines on domestic and international sectors; common social media handles (airindiax) and support channels; and an integrated Passenger Service System. Both airlines have also synergized a host of other ancillary add-on services and sub-brands, including Gourmair in-flight dining, Xpress Prime seats, and Xpress Ahead priority services. The airlines also recently announced the harmonisation of new grades, compensation, and benefits with Air India, enabling a unified structure and streamlining career paths across the Air India group.

About Air India Express and AIX Connect

Air India Express and AIX Connect, are subsidiaries of Air India, together operating over 300 flights daily across 30 domestic and 14 international airports, with a fleet of 54 aircraft, comprising 26 Boeing 737s and 28 Airbus A320s. The airlines offer comfortable seats, Gourmair hot meals and Xpress Ahead priority services, with the promise of fast bookings, fab deals and fantastic value on its award-winning website, airindiaexpress.com.

Established in 2005, Air India Express is the market leader on routes between India and the GCC, with a network spreading over 34 destinations, including India, the Middle East and Singapore. In January 2022, Air India Express, together with Air India, was successfully privatised, with ownership returning to the Tata group that had initially founded Air India.

AIX Connect Private Limited (currently operating as AirAsia India), was launched in 2014, operating as a joint venture between Tata Sons and AirAsia Aviation Group. The airline flies over 50 direct and 100 connecting routes across 19 destinations in India, offering pioneering in-flight entertainment AirFlix, and a host of exclusive loyalty benefits for members of the Tata NeuPass rewards program. In November 2022, AIX Connect became a wholly-owned subsidiary of Air India.

For media queries, please contact:

Air India Express
PG Prageesh
pg.prageesh@airindiaexpress.com
Rohit Kumar
rohitkumarsingh@airasia.co.in

Adfactors PR
Abreshmina Quadri (National): +91-8826721799
Jeevan Chandy (Kochi): +91-9447302033
airindiaexpress@adfactorspr.com

TripGift Expands Global Reach to 85 Currencies to Become the World’s Most Globally Accepted Gift Card Brand

NEW YORK, Sep 4, 2023 – (ACN Newswire) – TripGift(R), the global market leader in multi-brand, multi-currency travel gift cards, has expanded its unparalleled global reach to 85 currencies. This includes the unique addition of 17 new currencies in hard-to-access territories in Asia, Middle East, Africa, and LATAM. This strategic enhancement makes TripGift the only gift card brand in the world to operate with this vast market-leading range of currencies.

TripGift Brands – Eight TripGift brands available with industry-first 85 currencies.

The global digital gift card market is expected to reach $1.2 trillion by 2032 with a CAGR of 12.5%, according to the latest report by Custom Market Insights titled "The Digital Gift Card Market Size." The Global Travel market is even bigger, currently at $2.3 trillion, set to reach $4.6 trillion by 2030, with a CAGR of 10.4%, according to the GlobalData Online Travel report.

The TripGift brand portfolio is well-positioned to capitalize on the growth of both of these markets, with TripGift delivering its unique global travel and bucket list experience gift cards via its market-leading multi-currency travel booking marketplace and gift card distribution and redemption capability.

"Customers are everywhere, e-commerce is everywhere, everyone has bucket list dreams. Our gift of travel for anyone, anywhere is the perfect experience gift," said Cary George, CEO at TripGift.

TripGift's multi-currency redemption platform enables customers to redeem their gift card(s), making it easier to book travel and bucket list experiences in their local currency, which opens up more accessibility to experience the world on travel gift cards.

This is a valuable benefit for anyone who loves travel or who loves to gift experiences to friends, family members, work colleagues or customers in their local currency.

About the Multi-Award-Winning TripGift(R)

TripGift(R) leads the market in multi-currency, multi-brand travel-"anywhere" digital gift cards, offering eight "Hero Brand" gift cards, including AirlineGift, BucketlistGift, HotelsGift, eLearnGift, FlystayGift, RentacarGift, TripGift and ToursGift, and opening doors to over 1.5 million bookable travel experiences in its online marketplace. The platform encompasses major airlines, hotels, and car rentals, as well as extraordinary local and global curated bucket list experiences, VIP sporting events, and cultural and music events. Customers can seamlessly redeem their gift cards exclusively within TripGift's unique business ecosystem.

TripGift's innovation flywheel brands transform innovation to value with major retailers, corporate companies and digital distributors across 180 countries. Anchored by its industry-first 85 currency, security-minded travel and experience digital gift cards, gift card processor with API fulfillment TripGift(R) is the ideal solution for birthdays, weddings, anniversaries, travel rewards, loyalty programs, incentives, employee awards, cash-back travel credits, rebates, travel experience retailing, gifting and prizes. For more information, please visit https://www.tripgift.com/b2b-bulk-custom-orders.aspx.

Contact Information:
Tiffanie Liu
Head, WW Partnerships & Distribution
pr@tripgift.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Understanding CMGE’s (0302.HK) Path to Stable Growth from its Mid-term Report

HONG KONG, Sep 4, 2023 – (ACN Newswire) – On August 28, CMGE (0302.HK) held its mid-term performance conference for 2023. Xiao Jian, the Executive Director, Chairman and CEO of CMGE, announcing H1 2023 results, said CMGE's revenue reached RMB 1.535 billion, with a year-on-year growth of 24.6%; the profit attributable to the owner of the parent company during the period was RMB 56.824 million, and the net profit after adjustment was RMB 76.168 million, achieving a year-on-year turnaround.

In terms of the KPI, the monthly average active users of CMGE in the first half of 2023 increased to 15.627 million, with a year-on-year growth of 22.3%; the number of new registered users reached 48.683 million, with a year-on-year growth of 26.9%. The monthly average number of paid users and the monthly average revenue per paid user (ARPPU) also realized a year-on-year growth of more than 20%.

It is worth noting that the cost reduction and efficiency enhancement measures of CMGE have achieved new results continuously. Thanks to the application of AIGC technology, outsourcing costs in the independent R&D and distribution work of CMGE have been reduced by more than 30%, driving a decrease in the proportion of administrative expenses, while keeping the sales expense rate within 10%, further verifying the quality of growth.

In fact, in terms of a long term, CMGE has always been maintaining a stable rhythm, and its uniqueness lies in the stability. In several cycles, CMGE still maintains a consistent strategy and values: uphold the values of "integrity and trustworthiness, transparency and openness, deep thinking, and long-term strategy", and adhere to the mission of "casting high-quality products with love", becoming a company that is always full of love and creativity!

The stable operation of CMGE has become an example of long-term strategy: as a Chinese gaming company, CMGE deeply understands the needs of players, adheres to the unique advantages for a long time, insists on doing difficult and correct things, and relies on endogenous motivation to achieve long-term and stable commercial growth.

Long-term strategic layout: building long-term competitive barriers with IP as the core

The strategy of CMGE is to focus on IP and provide high-quality IP games for global players through independent and joint R&D, creating a highly competitive IP game ecosystem. It is understood that as the No. one player in the domestic IP game field, CMGE has outstanding advantages in accumulating copyright in IP game, including its own IPs represented by Legend of Sword and Fairy and Richman, as well as authorized IPs such as Rakshasa Street, One Piece, Dragon Ball Z, Hokage Ninjia, Hitman Reborn, and Soul Land.

"We believe that IP will definitely become an important resource and barrier to competition in the gaming industry," Xiao Jian stated at the conference.

In the second half of 2023, in the game market, it has become a consensus that the content will be refined and the cost for traffic and customer acquisition will continue to rise. Under the long-term trend of this industry, the value of CMGE' long-term layout around well-known IPs is accelerating to emerge.

According to the analysis of Anxin Securities, it is believed that IP games have relative advantages over non-IP games in terms of user acquisition, version approval, and profit potential. High IP awareness, wide fan base, and high "absorption" ability can effectively reduce the cost for game customer acquisition. IP has a clear worldview and mainstream values, and the version number has a higher "approval rate". IP based medium to heavy games have a longer lifecycle and greater payment depth. In summary, IP games have a higher success rate than regular games.

The financial report shows that in the first half of the year, CMGE achieved the intellectual property authorization revenue of approximately RMB 59.81 million, with a year-on-year growth of 94.4%. Among them, in the development of the IP for Sword and Fairy, CMGE comprehensively covers games, film and TV, anime, content literature, music, derivatives, and live entertainment and other fields, and collaborates with top partners in related fields to create an IP universe for Sword and Fairy.

Long-term independent R&D: reserve AIGC technology and adhere to independent R&D of products

The gaming industry is shifting from a traffic-based one to a content-based one. With the deepening trend of high-quality products in the gaming industry, excellent products have become the focus of competition.

Independent R&D is necessary for creating high-quality products. In addition to consolidating the IP core advantages, CMGE is also continuously enhancing its independent R&D capabilities, increasing R&D investment, exploring core independent technologies, building its own R&D team, and forming major R&D teams such as Starry Sky, Wenmai Interactive, SoftStar Technology, and Zhoujing Network. Data shows that in the first half of 2023, the investment in the R&D of CMGE was RMB 266.9 million, with a year-on-year growth of 30.6%.

A typical example is Sword and Fairy World. In order to create the first open world metaverse game with the theme of Chinese Paladin world, CMGE took 3 years for independent R&D and have invested RMB 300 million totally. At the same time, CMGE actively explored the AIGC technology empowerment, became one of the first-batch ecological partners of Baidu's "ERNIE Bot" in March, and reached cooperation with Microsoft in cloud computing, big data, Azure OpenAI and other fields in May to develop applications such as intelligent NPC and UGC+AIGC, so as to provide an immersive experience of "everything can interact" for players of Sword and Fairy World.

After years of persistent R&D and investment, CMGE is entering a harvest period of independently developed games.

In the second half of the year, the highly anticipated Sword and Fairy World has obtained a dual-end edition No. and is expected to be launched within 2023. At the same time, the integrated SLG game City Lord's World developed by Wenmai Interactive has entered the final testing stage. It successfully obtained a version No. in February 2023, and is planned to be exclusively released by Sanqi Mutual Entertainment in Q4 2023; the high-quality competitive sports game All-people Free Style independently developed by Zhoujing Network also obtained a version No. in May 2023, and is expected to be launched within 2023.

Epilogue

Looking ahead to the second half of the year, CMGE still shows a trend of high certainty and steady growth.

In terms of distribution business, the first large-scale multiplayer role-playing mobile game Soul Land: Shrek Academy, which is developed based on the IP of Soul Land, will be launched by CMGE in Chinese Mainland in the second half of the year; Besides, a simulated mobile game adapted based on the IP of Rural Love, named Rural Love Story, will also be launched.

In terms of R&D business, multiple independently developed games of CMGE have obtained version No. and entered the final testing stage before being launched online, including City Lord's World, All-people Free Style, and Sword and Fairy World.

In terms of IP operation, CMGE continues to explore the IP value of Sword and Fairy in film and TV, animation, and novels, and has reached a long-term strategic cooperation with Tencent Video to jointly create the race track of Chinese Paladin world and IP of Sword and Fairy; Collaborates with iQiyi on the film and TV drama Sword and Fairy IV; Collaborates with CITIC Publishing House to release a series of works on historical versions of Sword and Fairy as physical books. As the ecological value of IP universe of Sword and Fairy continues to expand, the growth space for IP licensing revenue is further opened up.

In 2022, due to the impact of the epidemic and version No., the China's gaming market experienced a double decline in revenue and users for the first time in the past decade. However, according to the 2023 China's Game Industry Report for the Period from January to June, the actual sales revenue of the China's game market in the first half of 2023 was RMB 144.263 billion, with a growth of 22.16% month on month. Obviously, there are signs of a rebound in the gaming market.

The gaming market is still a large market with hundreds of billions of dollars annually. The emergence of new technologies such as AIGC has also brought new impetus to the industry. However, no matter how the gaming market changes, CMGE insists on putting players at the center and IP at the core, working steadily, releasing and producing every high-quality product to bring players the ultimate gaming experience. The time will eventually witness the victory of our long-term strategy.

For further information, please contact:
PEANUT MEDIA LIMITED
Direct Line: +86-755-61619798 x8210
Email: hswh.project@czgmcn.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Indonesia Remains a Market to Watch as Local Players Focus On Growth, Localisation And Expansion Beyond Its Shores

JAKARTA, Sep 4, 2023 – (ACN Newswire) – The Asia Video Industry Association (AVIA) hosted over 200 delegates at its recent Indonesia in View conference that took place in Jakarta on 31 August.

The conference opened with industry leaders from across the TV and streaming space sharing their views on the state of TV and video in Indonesia, where total video industry revenues are expected to rise from US$2.5 billion in 2023 to reach US$3.7 billion by 2028, according to the latest research by Media Partners Asia (MPA).

Tizar Patria, Senior Manager of Business Development, (Indonesia, Thailand, Malaysia), Netflix, was optimistic about the market as it continued to grow for Netflix, with a focus on content that works for the market coupled with a quality experience for consumers. Clarissa Tanoesoedibjo, Managing Director of Vision+, added that an ecosystem was needed that reinforced all other parts, from pay TV to free to air and streaming, and that finding strategic partners in market to maximise opportunities was key. Lesley Simpson, Country Head, WeTV and iflix Indonesia, also concurred that growth in OTT is here and can be achieved through strategic partnerships.

With Indonesia representing Southeast Asia's largest video content market, the battle for content remains fierce. Titan Hermawan, President Director, MNC Pictures, saw the need to create original IP and original stories as a big opportunity for new scriptwriters. For Angga Dwimas Sasongko, Founder, Director, Visinema Group, what was most important was to focus on a pipeline of talent to be able to scale content production. However, the panellists agreed with Abid Hussain, Founder & CEO, Creative Stew, that business models needed to change for the betterment of the producers. Ruben Hattari, Director, Public Policy Southeast Asia, Netflix, said that the industry needed to work on broadening its skills base. Indonesia was also the only country without a production incentive scheme so more needed to be done there to support the growth of the industry.

However, piracy was still a major issue in Indonesia, with AVIA's Coalition Against Piracy's most recent annual consumer surveys showing that 54% of consumers in Indonesia access pirate services, the fourth highest incidence of piracy in the region. In a major collaborative effort towards the fight against piracy, CAP and the Video Streaming Association of Indonesia (AVISI) (https://bit.ly/44SthRT) signed a Memorandum of Understanding (MOU) in Jakarta on 30 August at CAP's State of Piracy Summit which ran alongside Indonesia in View. The MOU represented a significant step forward for AVIA and AVISI in combining their resources to combat online piracy in Indonesia and protect Indonesia's creative and media industries.

Indonesia in View shifted focus to the monetization of premium video in the afternoon. Chris Mottershead, Commercial Director APAC, Publica, said that with advertisers not planning as far ahead these days, programmatic was likely to play a bigger role in monetization. Sharing insights from other markets, Mottershead also added that FAST was a good way of bringing back consumers who dropped out of the pay ecosystem, as they could churn from OTT, go to FAST and then come back to OTT when they could afford the subscription. Khin Mu Yar Soe, Director of Customer Success SEAK, PubMatic, also said that the programmatic space will continue to grow and evolve, with a more integrated approach on both the buy side and sell side, as well as at a technology level.

The conference closed off with a keynote conversation with Hary Tanoesoedibjo, Executive Chairman, MNC Group, who outlined the next phase of his ambitious plans to shift focus to becoming primarily a content and entertainment company. He shared his plan to combine RCTI+ and Vision+ into a super app where a two-tiered service will be offered under one brand combining FTA content which will continue to be monetised through advertising as well as a premium subscription service. The plan was also to create a bigger ecosystem and grow the service to target all of Asia by investing in more quality content.

When asked about rumours of the sale of MNC Play, Tanoesoedibjo shared that they will come to an arrangement to sell the data infrastructure part of the business while keeping the IPTV business and continuing to bundle the services for both existing and future subscribers.

Indonesia in View is proudly sponsored by Gold Sponsors Vidio and Vision+ and Silver Sponsors A+E Networks Asia, Akamai, INVIDI, MEASAT, NAGRA VISION, Publica and PubMatic

Link, https://bit.ly/48bqINA, for a selection of photos from the event.

About the Asia Video Industry Association

The Asia Video Industry Association (AVIA) is the trade association for the video industry and ecosystem in Asia Pacific. It serves to make the video industry stronger and healthier through promoting the common interests of its members. AVIA is the interlocutor for the industry with governments across the region, leads the fight against video piracy through its Coalition Against Piracy (CAP) and provides insight into the video industry through reports and conferences aimed to support a vibrant video industry.

For media enquiries and additional background please contact:
Charmaine Kwan
Head of Marketing and Communications
Email: charmaine@avia.org
LinkedIn: www.linkedin.com/company/asiavideoia | Twitter: @AsiaVideoIA

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com