Global Energy Storage Solution Provider Dyness Completed Rounds of B and C Financing

Xi'an, CHINA, Aug 1, 2023 – (ACN Newswire) – Recently, Dyness Digital Energy Technology Co., Ltd, a global energy storage technology company, announced that it has completed rounds of B and C financing successively. Youshan Capital and a fund affiliated with CICC Capital are the lead investors, and several other well-known investment funds also participated, such as L Catterton. Founded in 2017, Dyness is committed to becoming a global leading energy storage technology company.

Dyness is one of the leading enterprises to develop global energy storage market, with a core team consisting of talents from leading companies in the industry, and over 90 international patents. Currently, it has successively launched energy storage products for all scenarios and gradually established a global sales, R&D, and production operation system. The company's management team focuses on creating value for channels and partners in areas such as products, brand, operations, and services. Mr. Yang Liu, CEO of Dyness, stated that the company will continuously reduce the marginal cost of new energy, enrich its application scenarios, and ensure its safety and reliability through ongoing technological innovation and industrial optimization. The company will make unremitting efforts to contribute to achieving the dual carbon target, reducing global temperatures, and making a difference.

With its outstanding product definition capabilities and robust and efficient R&D system, Dyness has created a differentiated product matrix renowned for its stability in the residential and C&I energy storage fields. Under the guidance of the company's global strategy and after years of unremitting efforts, the product matrix of Dyness has maintained steady growth in its core markets and has fully entered major regions worldwide. Through resolute and efficient execution, the company has established multiple milestones and achieved excellent results, earning high recognition from global markets and customers for the brand and products of Dyness.

Under the influence of multiple factors, the global energy structure has entered a transition period, and the unstable supply of the energy market has brought about drastic changes on the demand side. The renewable energy demand, especially solar energy storage, has seen a large-scale blowout. According to GGII, a renewable-energy research institute in China, the global residential storage installations will reach 100GWh in 2025, with a 5-year CAGR of over 90%. With years of in-depth layout, Dyness has been providing high-quality products and services for customers in many regions. Facing the changes in global energy production, scheduling and application, Dyness will also actively improve its product R&D capabilities and customer service capabilities to embrace the wave of digitalization and intelligence in the industry.

"With the financing completed in this stage, Dyness will further increase its investment in the R&D of new energy storage technologies and solutions, accelerate the expansion of its C&I energy storage product lines, ecological product lines, as well as the pace of the company's global expansion and the deployment of all-scenario applications," said Mr. Yang Liu, CEO of Dyness. "At the same time, the two rounds of financing will provide sufficient and solid financial support for the company's organizational iteration and brand upgrading."

Contact Information:
Xiao Han, Dyness
Mail: xiao.han@dyness-tech.com
Tel: +86 400 666 0655
Website: www.dyness-tech.com

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

Atlas Lithium Expands Anitta Pegmatite Trend to 2.3 Kilometers; Confirms Near-Surface Mineralization with Trenching

Boca Raton, Florida–(ACN Newswire – July 31, 2023) – Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading mineral exploration company, is pleased to announce the southwest expansion of the Company’s flagship Anitta pegmatite trend from 1.8 to 2.3 kilometers in length. Anitta is located within the Neves Project, a cluster of four lithium mineral rights that are part of Atlas Lithium’s 100%-owned Minas Gerais Lithium Project in Brazil’s Lithium Valley, an established hard-rock lithium producing jurisdiction.

The increase in size was a result of identification of new targets to the southwest which were subsequently drilled and found to contain spodumene, a lithium-bearing mineral. This has allowed the expansion of Anitta to an area now measuring approximately 2.3 kilometers in length by 500 meters in width. Because of such increase, and as multiple additional targets are available for future drilling, the decision was made to rename various segments in an ascending fashion for ease of logistics: “North Anitta” is now “Anitta 1”, “South Anitta” is now “Anitta 2”, and “Anitta 2” is now “Anitta 3,” as illustrated in Figure 1. Overall, Anitta remains open to further extension laterally, along strike to the southwest, and at depth.

The Company’s drilling campaign to date has yielded high grades of lithium mineralization close the surface in both Anitta 2 and Anitta 3. In Anitta 2, drill hole DHAB-85 showed mineralized spodumene starting at only 3 meters depth. More recently, in Anitta 2, two trenches have shown at least 40 meters of lithium-containing pegmatite at near surface as Figure 2 and Figure 3 indicate.

In Anitta 3, drill hole DHAB-185 intersected 5.23% Li₂O at only 9 meters depth, and drill hole DHAB-200 yielded a cumulative total of 46.7 meters of mineralized spodumene starting at only 54 meters depth, including 18.3 meters at an average grade of 1.51% Li₂O.

Strong lithium mineralization at near-surface depths in both Anitta 2 and Anitta 3 is an important differentiator for the Company’s assets. Such locations may become, over time, sites for open pit mining, a modality which allows for faster and less costly operational development.

Marc Fogassa, Atlas Lithium’s CEO and Chairman, commented, “We are highly encouraged by the expansion of our Anitta pegmatite trend. Additionally, since our goal is to become a cost-effective lithium producer, we are thrilled by the ongoing discoveries of high-grade lithium mineralization at near-surface levels which makes these areas strong candidates for open pit mining.”

Figure 1 – Atlas Lithium’s Anitta pegmatite trend with some drilling highlights

To view an enhanced version of this graphic, please visit:
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Figure 2: Trench in Anitta 2 showing lithium-bearing pegmatite at near-surface level

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Figure 3: Detail of trench in Anitta 2 showing lithium-bearing pegmatite at near-surface level

To view an enhanced version of this graphic, please visit:
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About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. The Company’s exploration mineral rights for lithium cover approximately 308 km2 and are located primarily in Brazil’s Lithium Valley. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel (222 km2), rare earths (122 km2), titanium (89 km2), and graphite (56 km2). The Company also owns approximately 45% of Apollo Resources Corp. (private company; iron) and approximately 28% of Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based upon the current plans, estimates and projections of Atlas Lithium Corporation and its subsidiaries (collectively, “Atlas Lithium” or “Company”) and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-Q filed with the SEC on May 15, 2023. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:
Michael Kim or Brooks Hamilton
MZ Group – MZ North America
+1 (949) 546-6326
ATLX@mzgroup.us
https://www.atlas-lithium.com/
@Atlas_Lithium

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/175378

China Medical System Once Again Received MSCI-ESG ‘AA’ Rating, Leading the Industry in ESG Management

SHENZHEN, CHINA, Jul 31, 2023 – (ACN Newswire) – Recently, MSCI (Morgan Stanley Capital International), the world's largest index company, announced the latest Environmental, Social, and Governance (ESG) evaluation report for China Medical System Holdings limited ("CMS" or the "Group"), who achieved an "AA" rating and surpassed 75% of global peers with leading ESG management practices.

MSCI is one of the most widely used, influential, and referenced rating companies in the global market. Based on a scientifically rigorous evaluation system, it evaluates companies' risk control performance and sustainable development potential comprehensively from various aspects such as environment, human capital, health accessibility, product safety and quality, and corporate governance. MSCI-ESG rating results have been regarded by global investors as an important non-financial basis for investment decision-making. Being back to the "AA" rating, reflects the full recognition of the Group's ESG management practices by the international authoritative rating company.

The Group deeply integrates the concept of sustainable development into its operations with a development perspective, continuously improves its internal governance under the guidance of its ESG strategy, and actively assumes its responsibilities as a corporate citizen. Based on years of continuous investment in sustainable development, CMS's ESG management has been widely recognized: over the past three years, the Group's MSCI-ESG rating has maintained an "A" or "AA; its S&P Global ESG score surpassed 92% of the global peers with a score of 53, and successfully stood out from approximately 1,600 Chinese companies to be included in the first "Sustainability Yearbook (China)" of S&P Global.

In the future, CMS will always keep in mind its mission of being a responsible citizen, and work together with its stakeholders to promote healthy, harmonious, and sustainable development of the industry, society, and environment.

About CMS:

CMS (0867.HK) is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet healthcare needs.

CMS focuses on developing first- or best-in-class innovative products and has made the layout of 30 differentiated pipeline products with strong market potential. CMS deeply engages in specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to strengthen the competitiveness of its cardio-cerebrovascular/gastroenterology business, and independently operated dermatology and medical aesthetic business, and ophthalmology business, whilst enhancing the scale and efficiency. CMS also entered into the Southeast Asian market to create new opportunities to further enhance the sustainable development of the Group.

Media Contact
Brand: China Medical System Holdings Ltd.
Contact: CMS Investor Relations
Email: ir@cms.net.cn
Website: https://web.cms.net.cn/en/home/

Source: China Medical System Holdings Ltd.

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

Exploring New Collaborative Opportunities! The Indonesia-China Healthcare and Biotech Investment Forum Successfully Held

HONG KONG, Jul 31, 2023 – (ACN Newswire) – On 27 July 2023, on the eve of the highly anticipated Chengdu FISU World University Games, the Minister of Health Indonesia Budi Gunadi Sadikin accompanied Indonesian President Joko Widodo on a visit to China. The Indonesia-China Healthcare and Biotech Investment Forum, co-hosted by the Embassy of the Republic of Indonesia in China and the Indonesian Chamber of Commerce and Industry Bilateral Committee for China (KIKT), and supported by Legend Capital and Indonesia Chamber of Commerce in China (INACHAM), was successfully held at the Shangri-La Hotel in Chengdu. A total of 120 people, including Indonesian government officials, scholars, business people and leading Chinese healthcare companies, attended the event to jointly discuss the direction and opportunities for the development of healthcare and biotech in China and Indonesia.

Jafar WANG, Co-Chief Investment Officer of Legend Capital

Frank HONG, Managing Director of Legend Capital

The forum was chaired by Mr. Jafar WANG, Co-Chief Investment Officer of Legend Capital, who mentioned Legend Capital's latest "Ecosystem plus" strategy in healthcare, and hoped to collaborate with the excellent healthcare enterprises in China and Indonesia to build an open, innovative, and international ecosystem through this forum. Mr. Garibaldi Thohir, Chairman of Indonesia Chamber of Commerce and Industry Bilateral Committee of China (KIKT), Mr. H.E. Djauhari Oratmangun, Indonesian Ambassador to the People's Republic of China, and Mr. Arsjad Rasjid, Chairman of Indonesia Chamber of Commerce and Industry (KADIN), each delivered opening speeches for the forum. They warmly welcomed Chinese healthcare companies investing and developing in Indonesia, combining innovative technologies, advanced concepts, and China's experience with Indonesia's national conditions, to promote the development of Indonesian healthcare and medical services.

The Minister of Health Indonesia, Budi Gunadi Sadikin, delivered a keynote speech on "Healthcare Policy and Planning in Indonesia". The speech systematically sorted out and discussed the overall health system in Indonesia from various perspectives, such as the current situation of Indonesian healthcare, the number and capabilities of medical personnel, the distribution of medical resources, and the coverage of universal health insurance. He indicated that the Indonesian healthcare system urgently needs to transform and develop, hoping to promote the transformation and upgrading of the healthcare system through the establishment of a nationwide disease prevention and control monitoring network, improving the level of primary healthcare services in Indonesia, training medical professionals and medical staffs, making rational use of funds from all parties, as well as cooperating deeply with Chinese companies through national projects. At last, He warmly welcomed Chinese companies to invest and develop in Indonesia and explore new opportunities and potentials for the development of the healthcare industry in both countries.

Mr. Frank HONG, Managing Director of Legend Capital, then delivered a speech on "Trends in Investment and Industrial Cooperation in Indonesia", sharing Legend Capital's investment strategies and choice of approaches in Southeast Asia, especially in Indonesia. He also elaborated on the current situation and upgrade demands of the Indonesian healthcare industry and suggested that excellent Chinese healthcare companies go abroad, increase investment in Indonesia and create more value for the two countries.

Subsequently, under the witness of the Minister of Health Indonesia and relevant government officials, the Ministry of Health Indonesia and Tsinghua University signed a strategic cooperation agreement. At the same time, a signing ceremony was also held between Chinese and Indonesian companies, whereby Chinese companies, including Sansure Biotech, Walvax Biotech, CanSino Bio, BGI, Sinovac Biotech, Zhifei Biological, and Wondfo Biotech, together with Indonesian companies such as UBC Medical, ETANA, Kalbe Farma, BioFarma, and Kimia Farma, reached partnership agreements, jointly supporting the coordinated development of the healthcare fields in China and Indonesia.

Mr. LI Ning, Vice President of BGI Group, gave a speech on "Trends in Life Science Technology", stating that BGI Group hopes to lead the innovative development of genomics with the integrated development model of "industry, university, and R&D", promote the transformation of gene technology achievements, and realize the benefits of gene technology to humankind.

During the panel discussion, Mr. Bonanza Perwira, Director of Centre for Global Health and Technology Policy of the Indonesian Ministry of Health, chaired a discussion on the "Prospects for Industrial Cooperation between China and Indonesia", which the Minister of Health Indonesia Mr. Budi Gunadi Sadikin, Director General of Pharmaceuticals and Medical Devices of the Indonesian Ministry of Health Ms. Lucia Rizka Andalucia, Chairman of Indonesia Chamber of Commerce and Industry Mr. Arsjad Rasjid, Kimia Farma's President Director Mr. David Utama, and Kalbe Farma's President Mr. Vidjongtius participated in and responded to questions raised by the audience regarding Indonesian healthcare policies, Indonesian health insurance payment methods, foreign company access and commercialization, and partner selection, and expressed a warm welcome to more open cooperation with Chinese companies.

Subsequently, Mr. QI Fei, Executive Director of Legend Capital, presided over the panel discussion of "Attempts for Chinese Company Collaborating in Indonesia", which Mr. DAI Lizhong, Chairman and Founder of Sansure Biotech, Mr. WU Xiaobin, President and Chief Operations Officer of BeiGene, Mr. DONG Shaozhong, Vice President of Walvax Biotech, Ms. WANG Jing, Chief Commercial Officer and Executive Director of CanSino Bio, Mr. XIA Jusong, President of International Business at United Imaging Healthcare, and Mr. CHEN Kai, Executive Director of AstraZeneca China participated in and shared and discussed topics such as the trend of China-Indonesia cooperation, development opportunities in Indonesia, practical experience of entering the Indonesian market, and cooperation models between the two countries. It is hoped that Chinese healthcare enterprises can carry out broader and deeper cooperation with more countries to benefit more people around the world.

2023 is the 10th anniversary of the establishment of the China-Indonesia Comprehensive Strategic Partnership and is also a year of opportunities for both countries. With the joint efforts of both sides, it is believed that the collaborative development of China-Indonesia in healthcare fields will undoubtedly contribute to the building of a community with a shared future for human health.

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 ( https://www.linkedin.com/company/legend-capital ).

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

Wintermar Offshore (WINS:JK) Reports 1H2023 Results

JAKARTA, Jul 31, 2023 – (ACN Newswire) – PT Wintermar Offshore Marine Tbk (WINS:JK) has announced results for 1H2023. Wintermar's Gross Profit from Owned Vessels jumps to US$3.1 million for 1H2023 from US$0.2 million in 1H2022 on the back of 32.6%YOY increase in Owned Vessels revenue to US$ 19.2 million.

Total Gross Profit increased 140%YOY to US$5.4 million for 1H2023, while total revenues were 24.4% higher at US$31 million, largely driven by higher charter rates and additional fleet commencing operations.

Owned Vessel Division

In the first half of 2023, Owned Vessel gross profit experienced an exceptional increase to US$3.1 million, generated from revenues of US$19.2 million. This was achieved as a result of securing higher charter rates, in spite of a decrease in fleet utilization from 66% in 1H2022 to 61% in 1H2023. The lower utilization was due to a transitionary period where some vessels came off longer term contracts and were undergoing necessary maintenance before being deployed to new contracts.

As a result, maintenance costs increased by 80.0% YoY, with the majority of the increase focused on the higher value vessels. Bunker costs also rose by 23% to US$1.3 million due to a higher number of vessels being out of contract. In expectation of higher rates in the second half of the year, management was more selective in tendering for work during the period, which contributed to the lower utilization.

The Company currently owns a fleet of 42 vessels, including 9 additional higher value vessels that were acquired since 2021, including 1 mid-tier vessel acquired in 2Q2023. Of the 9 additional vessels, 6 were operational in 2Q2023, 2 more commenced work in June and July, with 1 expected to be deployed in the second semester of 2023, leaving only 1 left in the process of reactivation.

Chartering and Other Services

For the first half of 2023, Chartering Revenue was nearly flat at US$8.1million compared to US$7.9million in 1H2022. Due to lower margins the gross profit from Chartering Division fell by 26.5%YOY to US$0.7million. This was also due to one of the chartered vessels being acquired in 2Q2023 as the Company had secured a long-term contract for it. Other Services Revenue and Gross Profit increased significantly to US$3.8million (+47.2% YoY) and US$ 1.6 million (+40.7% YoY), respectively.

Indirect Expenses and Operating Profit

Management continued to exercise tight cost control in the first half of 2023. There was a one-off reversal to employee pension liabilities from the change in the omnibus law which resulted in a 4.5% YOY decrease in indirect expenses to US$3million.

Due to the much-improved industry conditions and controlled expenses, the Company booked an operating profit of US$2.4million for 1H2023 compared to a loss of US$0.9million in 1H2022.

Other Income, Expenses and Net Attributable Profit

Interest expenses fell by 26.1% YOY to US$0.5 million, as the group continued to reduce its outstanding bank debt. This resulted in a net debt-to-equity ratio of just 6.5% at the end of the first half of 2023.

The strong performance of the business resulted in a net income attributable to shareholders of US$1.1million for the first half of 2023, compared to a loss of US$1.0million in the same period of 2022.

The group's EBITDA also jumped by 64% YOY to US$8.7 million.

Outlook for O&G and the OSV Industry

The International Energy Agency (IEA) released its May Oil Market Report, projecting global oil demand to reach 103m b/d in 2024 from the previous estimate below 103m b/d provided in July 2022. This represents an upward revision from the red to the blue demand curve in Figure 1. Oil supply as we know has been constrained by several years of underinvestment due to lackluster oil prices since 2015.

The more positive oil demand forecast combined with global concerns over energy security triggered by embargos on Russian oil has caused a strong upturn in oil and gas investment. Rystad projects a recovery in oil and gas investments to reach US$ 600 billion by 2025. For South East Asia alone, there are US$ 135 billion worth of investments which have been approved, but the biggest jump in investment is in the offshore deepwater segment, as can be seen in the dark blue part of the bar chart in Figure 2 below. Deepwater investments typically require more technologically advanced OSVs with Dynamic Positioning systems of DP2 certification, like Platform Supply Vessels (PSV) and larger Anchor Handling Tug Supply (AHTS).

The supply of OSVs in SE Asia has been getting tighter in the past six months as the commencement of drilling projects in the Middle East, Africa and Latin America has attracted available and operationally ready OSVs to those geographical locations. Charter rates in SE Asia have lagged those markets but have started to improve in 2Q2023. With the current rise in approved projects in the coming years, we expect even tighter conditions in the OSV market in Asia for the next few years.

Company Business Outlook

Wintermar expects a stronger performance throughout the remainder of the year, driven by the successful award of several contracts for high-tier vessels. These contracts feature charter rates that are much higher than previous contracted rates, with commencements expected in Q3 and Q4 of 2023. This positive development aligns with the overall improvement in OSV market conditions followed by the rising global OSV utilization and increasing charter rates.

As at end of June 2023, the Company's Contracts on hand amounted to US$ 79 million.

About Wintermar Offshore Marine Group

Wintermar Offshore Marine Group (WINS.JK), developed over nearly 50 years with a track record of quality that is both a source of pride and responsibility that we are dedicated to upholding, and sails a fleet of more than 48 Offshore Support Vessels ready for long term as well as spot charters. All vessels are operated by experienced Indonesian crew, tracked by satellite systems and monitored in real-time by shore-based Vessel Teams.

Wintermar is the first shipping company in Indonesia to be certified with an Integrated Management System by Lloyd's Register Quality Assurance, and is currently certified with ISO 9001:2015 (Quality), ISO14001:2015 (Environment) and OHSAS 18001:2007 (Occupational Health and Safety). For more information, please visit www.wintermar.com.

For further information, please contact:
Ms. Pek Swan Layanto, CFA
Investor Relations
PT Wintermar Offshore Marine Tbk
Tel +62-21 530 5201 Ext 401
Email: investor_relations@wintermar.com

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

Signing Contracts for US$49.3M, PIS (Pertamina) Now Sails across 26 International Routes

DUBAI, Jul 31, 2023 – (ACN Newswire) – PT Pertamina International Shipping (PIS), through its branch office in Dubai, PIS Middle East (PIS ME), has achieved another success by simultaneously signing four business cooperation agreements with global players.

PIS Pte Ltd (DMCC Branch) – PIS Middle East has signed business cooperation agreements with global players, namely with Gas Walio, Gas Widuri, Gas Arjuna and Gas Ambalat, for 4 vessels owned by PIS.

Erwin Paulian Sihombing, Commercial, PIS Pte Ltd (DMCC Branch) – PIS ME; Ugo Romano, Managing Director, Scorpio MENA DMCC (Neptune Pool); Andra Otmansyah Pelawi, Country Manager & Middle East Representative, PIS Pte Ltd (DMCC Branch) – PIS ME [L-R]

PIS ME signed the deals for 4 vessels owned by PIS – namely the Gas Walio vessel, Gas Widuri vessel, Gas Arjuna and Gas Ambalat vessels. The Gas Arjuna and Ambalat vessels are chartered by SHV Gas Supply & Risk Management, the Gas Walio vessel is chartered by Geogas Trading S.A, and the Gas Widuri vessel is chartered by Vitol S.A.

"The signing of this cooperation signifies the success of PIS ME's aggressiveness in increasing revenue in the international market, as well as proving the reliability of PIS's fleet which is qualified to sail in global scale waters," said PIS CEO Yoki Firnandi at the signing ceremony on Tuesday, July 25.

The total transaction value for the four ship deal reached US$49.34 million, or the equivalent to Rp740.15 billion (dollar exchange rate of Rp15,000) with different contract durations ranging from 6 months to 3 years. The contracts also provided for new international routes and countries for the PIS fleet, including Chile (South America), Puerto Rico (USA), Dominican Republic (Caribbean), Tanzania, Poland, and Portugal.

Country Manager of PIS ME Andra Pelawi added that in addition to the successful commercialization of the four vessels, PIS ME has broken new business ground which will add to the company's revenue potential. "Pertamina has, through PIS ME, entered Tankers International Pool, and a TC Syndication scheme with Scorpio for a Neptune VLGC vessel in the pool. PIS will have the potential for vessel rental at international market rates," he said.

Through this breakthrough scheme by PIS, carried out initially during the second quarter of 2023 (since the VLGC vessel entered the pool in early May, through to the end of the quarter), PIS ME managed to realize a profit of around US$865 thousand, or the equivalent to Rp12.97 billion (dollar exchange rate of Rp15,000).

About PT Pertamina International Shipping (PIS) Pte Ltd

PT Pertamina International Shipping (PIS) as an Integrated Marine Logistics Subholding, has a total of 750 ships. Besides the owned ships, PIS also manages time charter and spot charter that can be rented through e-chartering. PIS ME is the second representative branch office of PIS located abroad, being established December 23, 2022. See https://pertamina-pis.com/.

Media Contact:
Muh. Aryomekka Firdaus
Corporate Secretary
M: +62 0811-872-272
E: aryomekka@pertamina.com

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

ASEAN Ceramics 2023: The Future of Ceramics Manufacturing in ASEAN Region

ASEAN Ceramics successfully hosted a press conference on 28^th July 2023
7^th Edition to be held in International Centre for Exhibition in Hanoi, Vietnam from 28^th to 30^th November 2023
200+ exhibiting companies and brands, 3000+ trade visitors and hosted buyers over the three days event

HANOI, Vietnam, July 31, 2023 – (ACN Newswire) – Endorsed by the Ministry of Construction of Vietnam and overseas and domestic government trade and associations – Association of Italian Manufacturers of Machinery and Equipment for Ceramics (ACIMAC), China Council for the Promotion of International Trade (CCPIT) Building Materials Sub-Council, Thai Ceramic Society (TCS), Bangladesh Ceramic Manufacturers & Exporters Association (BCMEA), Vietnam Consumer Ceramic Association (VCCA), Vietnam Association for Building Materials (VABM), Vietnam Institute for Building Materials (VIBM).

Organised by MMI Asia, the regional subsidiary of Messe München GmbH and Vietnam Building Ceramic Association (VIBCA), together in consultation with Asian Exhibition Services (AES) Ltd., ASEAN Ceramics 2023 is the leading international exhibition of machinery, technology, and materials for manufacturing white-ware, heavy clay, and advanced ceramics. Building upon the remarkable success and expertise of ceramitec, the event promises to bring together the most influential players in the ceramics industry within the ASEAN region.

This year’s theme, “Building a Sustainable Future, Green Innovation and Production Efficiency through Digitalization, Automation, Alternative Fuels, Energy Recovery and Losses & Waste Reduction,” will emphasize sustainability and technological advancements driving the ceramics industry forward. The exhibition and conference will bring together the world’s leading suppliers and Southeast Asia’s leading manufacturers to promote trade cooperation, technical exchanges, and continued technology investments to improve ceramic quality standards that meets the sophisticated international requirements.

Michael Wilton, CEO & Managing Director of MMI Asia expressed “The ceramic business in Southeast Asia holds great opportunities with the combination of ASEAN government’s development and infrastructure programme and the increasing Vietnam’s ceramic production for export to APAC, US and European markets. We are committed to provide an optimal platform to showcase machineries, technologies, materials, and methodologies in support of the further developments and advancements for the Ceramics Industry”.

Mr Dinh Quang Huy, Chairman of VIBCA expressed “In recent ten years, the Asean ceramic industry has been developing rapidly, becoming one of the most vibrant regions in the world. In Vietnam, with the current production capacity of over 800 million square meters of ceramic tiles, 24 million pieces of sanitaryware products together with tableware sector, Vietnam has been annually ranked in the top 10 of the world’s biggest ceramic producing countries, being the attractive destination for international machinery and raw materials suppliers. Asean Ceramics exhibition has gradually built up its position in the list of important events of the ceramic industry in Southeast Asia and the world with more and more increasing scale both in the list of exhibitors and sectors as well as the number of visitors. This shows the attraction of the Expo and at the same time we can see the effect that the event brings to the exhibitors and visitors.

ASEAN Ceramics 2023 will feature country pavilions from China, Italy, and Vietnam, providing an immersive experience encompassing a wide range of sectors within the ceramics industry. Renowned bronze sponsors such as Izawa Pigments, Heraeus, Granulation Systems and key exhibitors Thach Quang Trading, Rock Team, Vitis Joint Stock Company, Behn Meyer, SACMI and System Ceramics will showcase ceramic industry innovations and technology developments. Hiroyasu Izawa, President of Izawa Pigment Co. Ltd expressed his excitement “I am very excited to be back at ASEAN Ceramics after the great success of the Bangkok show last year and we are fortunate to be bringing our partner Heraeus to this event and we look forward to seeing you all in November”.

Visitors can expect to witness various solutions, technologies, and state of the art machineries at this year’s exhibition which include:

Breakthrough solution from Laboratorios Argenol (Spain) – the BactiBlock antimicrobial additives that effectively inhibit the growth of harmful bacteria, providing long-lasting protection in various applications by Behn Meyer
Latest decoration techniques and colours for ceramic tableware, tiles, and glass by Izawa Pigments
Latest precious metal materials for decorating ceramics and glass as well as for technical applications used in many areas such as the automotive, aeronautic, or electronic industries by Heraeus Precious Coatings
Ceramic digital ink, ceramic roller, CMC and Alumina ball and brick in the ceramic market by Rock Team Industry
Customised minerals such as kaolin, zircon opacifier for a variety of specific applications by Vitis Joint Stock Company

In addition to the exhibition, ASEAN Ceramics 2023 will feature a comprehensive program of accompanying activities creating opportunities for knowledge exchange, collaboration, and business growth – ASEAN Ceramics Conference, Buyer-Seller Meetings, Pre-event Factory Tours, Technical Ceramics Pavilion, Ceramics Manufacturing Showcase and Networking opportunities.

ASEAN Ceramics 2023 is set to be a milestone event in the ceramics industry, propelling innovation, collaboration, and growth. Don’t miss this opportunity to shape the future of ceramics manufacturing in the ASEAN region. Stay updated on the latest news, exhibitor profiles, and conference schedules by visiting the official ASEAN Ceramics 2023 website at www.aseanceramics.com.

About ASEAN Ceramics

ASEAN Ceramics is the leading platform dedicated to advancing the ceramics industry through innovation, collaboration, and growth. The exhibition brings together manufacturers, suppliers, professionals, and industry experts from around the world to showcase the latest products, technologies, and ideas. For more information, visit www.aseanceramics.com.

About Messe Muenchen GmbH

Messe Muenchen GmbH is one of the world’s leading trade fair organizers with more than 50 trade fairs for capital goods, consumer goods, and new technologies. Every year, Messe Muenchen organizes more than 200 events in Munich, Germany, and abroad, attracting over 30,000 exhibitors and 2 million visitors. The company’s mission is to create innovative, sustainable, and profitable platforms for its customers to do business and connect with their target markets.

About MMI Asia Pte Ltd

MMI Asia is a full subsidiary of Messe München GMBH (MMG) established in 1992 and one of the world largest and leading exhibition organizers. MMI Asia was set up as the regional headquarter and a wholly-owned subsidiary of MMG to promote global trade expansion by facilitating participation of Asian exhibitors in Messe München fairs worldwide. MMI Asia also provides consultancy in professional trade fair and conference management to government bodies, international trade and promotion organizations, and trade associations.

About Vietnam Building Ceramic Association (VIBCA)

Vietnam Building Ceramic Association is a professional organization, non-governmental, voluntary, established under Decision No. 41/1999 / QD – BTCCBCP dated 04-10-1999 of the Minister, Head of the Organizing Committee Government personnel. Currently VIBCA includes around 100 members are enterprises of different economic sectors, operating mainly in the field of building ceramics, including the associate members are research institutions, investment consulting, manufacturing and mechanical engineering. VIBCA is a member of the Association of Asean Ceramics Industry CICA and intimate relationship with the Association Ceramics of countries in Asean and in the world.

Contact:

MMI Asia Pte. Ltd.
Daniel Shi
Exhibition Director
Daniel@mmiasia.com.sg

Vietnam Building Ceramic Association
Ms Vu Thi Kim Dung – 84 915114000
Chief of Foreign Affairs
vibcaoffice@gmail.com

BFSI IT Summit, Mumbai to Hold Physical Conference on 9-10 August 2023

MUMBAI, INDIA, Jul 31, 2023 – (ACN Newswire) – The BFSI sector plays a crucial role in any economy, integral to maintaining smooth economic functioning. In India, the "Digital India" initiative sparked significant change in the banking and financial sectors, driven by technological advancements and fintech innovation. This advancement in financial institutions has shifted the focus from product-centric to customer-centric approaches, revolutionising financial services and banking practices.

The widespread use of digital payments, particularly through QR codes and the Unified Payments Interface (UPI), has formalised the digital economy, with 93% of payments completed digitally last year. Altogether, there has been a downfall in card usage and cash transactions as a whole. With approximately 260 million users adopting digital payments, the alliance between fintech and banking services is reshaping the financial landscape. These emerging trends are expected to impact the future operations of these industries profoundly, paving the way for further growth and progress in the Indian economy.

19th Edition of Exito's BFSI IT Summit is the premier in-person conference that brings together Technology Leaders within the BFSI industry. This summit serves as a specialized learning and networking platform designed to extensively explore the pressing challenges confronting BFSI sectors and discover optimal strategies to overcome them. The event aims to foster insightful discussions, share best practices, and facilitate collaborative solutions, ultimately promoting growth and innovation in the financial services and banking technology landscape.

Don't miss the opportunity to learn from these esteemed Industry Experts:
– Arpanarghya Saha, Chief Digital Officer Nippon India Mutual Fund.
– Ramesh Narayanaswamy, Chief Technology Officer Aditya Birla Capital.
– Anil Kuril, Chief Technology Officer Union Bank Of India.
– Srikanth Gopalakrishnan, CIO for People, Procurement, Legal and Head of the India Technology Centre Deutsche Bank Group.
– Dr. Sourav Dutta, Executive Director & Head IT IDBI Bank.
– Ashutosh Mishra, Chief Risk Manager National Bank For Agriculture & Rural Development ( NABARD).
– Abhijit Dey, Vice President – Product Head API Banking Axis Bank.
– Vivek Zakarde, Senior Vice President (Head – Analytics-RACC) From a Leading Bank.
– Lincy Therattil, Head Of Open Innovation And Fintech Platform, Rise India Barclays.
– Aastha Arora, Learning & Development Consultant The London Institute of Banking & Finance India.
– Abhineet Sarkar, Digital Innovation Leader Tata AIA Life Insurance.
– Renu Singh Trainer The London Institute Of Banking & Finance India

Featured Topics at the Event:
– Technology Augmentation in the BFSI industry – Impact on the Indian Economy
– Advancing the Digital Economy and Finance.
– Blockchain the next big thing in India?
– The future of banking – Digital, Invisible and Connected.
– Unlocking Innovations in the Insurance Sector
– Improving the digital customer experience
– Climbing towards advancements in Open Banking.
– Fintech reshaping the Future of Finance
– India's Future of Insurance in a Data-Driven World.
– Ameliorating the future of cloud in the Indian BFSI Industry
– Advancing Cyber Security – Securing BFSI as it moves further into digital transformation.

Who will attend?

The BFSI IT Summit will be attended by top executives and leaders like Chief Information Security Officer, Chief Information Officer, Chief Technology Officer, Chief Information Security Officer, Heads of Cyber Security, Head of IT Infrastructure and Chief Digital Officer from a variety of industries including Public Banks, Foreign banks, Fintechs & Neo Banks, Microfinance Companies, General Insurance Firms, NBFCs, Mutual Funds, Regional Rural Banks, Health Insurance Companies, Private Banks, Asset Management Companies and Commercial Banks.
For more information on BFSI IT Summit: Mumbai, you can visit https://bfsiitsummit.com/india/

About Exito

Exito, which means success in Spanish, embodies our commitment to the success of our customers. Each year, we host over 240 virtual and in-person conferences globally, bringing together audiences with world-class thought leaders and C-level executives across industries. Our meticulously crafted agendas, based on extensive research and valuable industry insights, facilitate business, knowledge transfer, deal flow, and impactful messaging for brands.

Contact: Mithun Gopinath,
Manager-Projects,
Exito Media Concepts
mithun.gopinath@exito-e.com

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

LAC FullCal and LAC Joint Protec: Stronger Bones and Healthier Joints for Pregnant/Postpartum Mothers

SINGAPORE, Jul 31, 2023 – (ACN Newswire) – Gazing at the pregnancy test kit, as the faint double-lines slowly appear, can be an emotional rollercoaster of happiness and trepidation. Pregnancy is a beautiful journey, but it also comes with its fair share of physical challenges, especially within the joints and bones, as the body adjusts itself to accommodate a new life growing within.

As pregnancy progresses, development of symptoms like the Pelvic Girdle Pain often becomes a constant companion, causing nagging pain in the back and hips, ranging from mild ache to severe limitations in daily activities, no thanks to the influx of the relaxin hormone within the body, along with the extra weight that a pregnant mother carries.

The developing fetus also requires a considerable amount of calcium to form bones and teeth, and with a deficiency in the mother's calcium metabolism, the baby will draw what it needs from the mother's bones, leading to sudden drops in bone density and an increased risk of fractures even without falling.

To reduce the painful and potentially lasting effects of pregnancy, it is important for women to consume a balanced diet rich in calcium, vitamin D, and other nutrients that support bone health, which brings us to the latest developments by LAC – LAC FullCal and LAC Joint Protec to help optimise musculoskeletal health.

The LAC FullCal and LAC Joint Protec are perfect forms of supplements to add to a new mother's daily diet. With a gold standard 2:1 calcium to magnesium ratio for optimal calcium absorption and metabolism, LAC FullCal is also enriched with other beneficial co-nutrients like fish collagen, and Vit C & E to support joint health, making it an all-rounded calcium supplement.

Alongside LAC FullCal, LAC Joint Protec is a complementary supplement to help boost joint health, and alleviate the symptoms brought about by joint weakness. Consisting of key ingredients like glucosamine, chondroitin and collagen to promote cartilage repair, Joint Protec minimises friction between the joints for increased mobility. Enhanced with a blend of other beneficial ingredients, such as the cat's claw, bromelain, and calcium lactate to ease joint discomfort and strengthen joints.

LAC FullCal and Joint Protec not only benefit a mother's bone and joint health but also support the healthy growth and development of the growing baby. These supplements aid in preventing bone loss, reducing inflammation, and improving joint function and mobility, leading to relief from joint pain and restricted movements in mothers.

About LAC Global

Headquartered in Singapore, LAC Global is one of Asia's largest speciality retailers in nutritional supplements, vitamins, minerals, herbal, and other speciality supplements in Anti-ageing and Beauty, Immunity, Weight Management, Sports Nutrition, and Energy.

The Company owns the LAC brand, short for Leader in Antioxidative Control(TM), a leading health and wellness supplement brand with a global presence. Since its founding, LAC has embarked on a pioneering journey to develop scientifically based formulas, harnessing the best of eastern wisdom and western technology to fight free radicals, combat ageing brought forth by oxidative stress, and support you daily in looking, feeling, and functioning at your best. Having established a global presence since 1997, LAC's reach includes Singapore, Malaysia, Taiwan, Philippines, China, Japan, Vietnam, Myanmar, USA, Central & South Americas, and the Middle East. Currently, there are more than 220 LAC branded stores in Singapore, Malaysia, Philippines and Taiwan ROC. LAC stringently sources ingredients from around the globe, such as USA, Japan, France, Australia, New Zealand and Switzerland to ensure utmost quality, and works only with the most specialised partners in developing and manufacturing health solutions.

Its other brands include Xndo Food For Health. LAC Global is dedicated to ensuring consumers stay well, and live life to the fullest.

Website: LAC.sg
Instagram: @LACGlobalSingapore
Facebook: @LACGlobalSingapore

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

VinFast’s Registration Statement on Form F-4 in Connection with Its Proposed Business Combination with Black Spade Declared Effective by The U.S. Securities and Exchange Commission

HONG KONG, Jul 29, 2023 – (ACN Newswire) – VinFast Auto Pte. Ltd. ("VinFast" or "the Company") and Black Spade Acquisition Co (NYSE: BSAQ) ("Black Spade") announced that the U.S. Securities and Exchange Commission ("the SEC") has declared effective the registration statement on Form F-4 of VinFast in connection with its proposed business combination with Black Spade.

Black Spade has scheduled the Extraordinary General Meeting of Shareholders ("EGM") to approve the proposed business combination with VinFast to be held on August 10, 2023.

The business combination values VinFast at an enterprise value of US$27 billion and an equity value of US$23 billion. The transaction is expected to close followed by the listing of VinFast in August 2023, subject to shareholder approvals and other customary closing conditions.

Madame Thuy Le, Global CEO of VinFast Auto Pte. Ltd., said: "Today represents a remarkable milestone in advancing VinFast's presence in the U.S. as we move towards our proposed U.S. listing. Along with this exciting step, today we also celebrate the start of construction of our electric vehicle (EV) factory in North Carolina. These achievements will help accelerate our commitment to the global green mobility revolution and our mission to help consumers make the switch to an EV easier and more accessible, while also opening a strategic capital-raising avenue for our global ambitions."

Mr. Dennis Tam, Chairman and Co-CEO, Black Spade Acquisition Co, shared, "The declaration of the SEC effectiveness is a significant step towards the successful completion of the business combination between Black Spade and VinFast. We have diligently sought out a partner that aligns with our vision, and we are confident that this merger will position us for long-term success. We anticipate that the global lifestyle paradigm shift towards electric mobility will accelerate further and that VinFast will continue to distinguish itself as a trailblazer in the global EV arena. We are delighted to collaborate with the entire VinFast leadership team as they bring their highly anticipated full range EV models to the global market, instigating a significant transformation in the EV landscape."

VinFast, a member of Vingroup Jsc, was founded in 2017 and envisioned to drive the movement of global smart electric vehicle revolution. VinFast manufactures and exports a portfolio of e-SUVs, e-scooters and e-buses across Vietnam, North America, and, soon, Europe. The Company operates a state-of-the-art automotive manufacturing complex in Hai Phong that boasts up to 90% manufacturing automation and an annual production capacity (i.e. maximum number of vehicles that can be constantly manufactured in a year with additional shifts per day throughout the year) of up to 300,000 units per year in phase 1.

VinFast is committed to its mission of creating a sustainable future for everyone. The Company became a fully EV manufacturer in 2022, and has since delivered four EV models: VF e34, VF 8, VF 9 and VF 5 to customers in Vietnam to date. VinFast crossed an important milestone on the journey to becoming a recognized global EV brand with its first VF 8 EVs exported to North America earlier this year.

Black Spade, listed on the NYSE American, was founded by Black Spade Capital, which runs a global portfolio consisting of a wide spectrum of cross-border investments, and consistently seeks to add new investment projects and opportunities to its portfolio.

Additional information about the proposed transaction, including a copy of the business combination agreement, is available in Black Spade's Current Report on Form 8-K, filed on May 12, 2023 with the Securities and Exchange Commission ("SEC") at www.sec.gov.

More information about the proposed transaction is available in VinFast registration statement on Form F-4 that include BSAQ's proxy statement and VinFast's prospectus in relation to the business combination, which was first filed with the SEC on June 15, 2023.

About VinFast
VinFast – a member of Vingroup Jsc – is a leading Vietnamese automotive manufacturer committed to its mission of creating a green future for everyone. VinFast manufacturers and exports a portfolio of electric SUVs, e-scooters and e-buses across Vietnam, the United States, and, soon, Europe. Learn more at www.vinfastauto.us.

About Black Spade Acquisition Co
Black Spade Acquisition Co ("BSAQ") is a blank check company incorporated for the purpose of effecting a business combination (Special Purpose Acquisition Company). BSAQ was founded by Black Spade Capital, which runs a global portfolio consisting of a wide spectrum of cross-border investments, and consistently seeks to add new investment projects and opportunities to its portfolio. Learn more at: https://www.blackspadeacquisition.com.

Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of U.S. federal securities laws with respect to the proposed transaction between VinFast Auto Ltd. (the "Company") and Black Spade Acquisition Co ("Black Spade"), including statements regarding the benefits of the transaction, the anticipated benefits of the transaction, the Company or Black Spade's expectations concerning the outlook for the Company's business, productivity, plans and goals for product launches, deliveries and future operational improvements and capital investments, operational performance, future market conditions or economic performance and developments in the capital and credit markets and expected future financial performance, as well as any information concerning possible or assumed future results of operations of the Company. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are their managements' current predictions, projections and other statements about future events that are based on current expectations and assumptions available to the Company and Black Spade, and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the proposed transaction may not be completed within the prescribed time frame, which may adversely affect the price of Black Spade's securities, (ii) the risk that investors of the Company may not receive the same benefits as an investor in an underwritten public offering, (iii) the risk that the Black Spade securities may experience a material price decline after the proposed transaction, (iv) the adverse impact of any shareholder litigation and regulatory inquiries and investigations on the Company's business, (v) a reduction of trust account proceeds and the per share redemption amount received by shareholders as a result of third-party claims, (vi) the risk that the transaction may not be completed by Black Spade's business combination deadline and an extension period, (vii) the risk that distributions from trust account may be subject to claw back if Black Spade is deemed to be insolvent, (viii) the ability of the Company to get approval for listing of its ordinary shares and warrants and comply with the continued listing standards of the Nasdaq, (ix) the failure to satisfy the conditions to the consummation of the transaction, certain of which are outside of Black Spade or the Company's control, (x) the ability of the Company to achieve profitability, positive cash flows from operating activities and a net working capital surplus, (xi) the ability of the Company to fund its capital requirements through additional debt and equity financing under commercially reasonable terms and the risk of shareholding dilution as a result of additional capital raising, if applicable, (xii) risks associated with being a new entrant in the EV industry, (xiii) the risks that the Company's brand, reputation, public credibility and consumer confidence in its business being harmed by negative publicity, (xiv) the Company's ability to successfully introduce and market new products and services, (xv) competition in the automotive industry, (xvi) the Company's ability to adequately control the costs associated with its operations, (xvii) the ability of the Company to obtain components and raw materials according to schedule at acceptable prices, quality and volumes acceptable from its suppliers, (xviii) the Company's ability to maintain relationships with existing suppliers who are critical and necessary to the output and production of its vehicles and to create relationships with new suppliers, (xix) the Company's ability to establish manufacturing facilities outside of Vietnam and expand capacity within Vietnam timely and within budget, (xx) the risk that the Company's actual vehicle sales and revenue could differ materially from expected levels based on the number of reservations received, (xxi) the demand for, and consumers' willingness to adopt EVs, (xxii) the availability and accessibility of EV charging stations or related infrastructure, (xxiii) the unavailability, reduction or elimination of government and economic incentives or government policies which are favorable for EV manufacturers and buyers, (xxiv) failure to maintain an effective system of internal control over financial reporting and to accurately and timely report the Company's financial condition, results of operations or cash flows, (xxv) battery packs failures in the Company or its competitor's EVs, (xxvi) failure of the Company's business partners to deliver their services, (xxvii) errors, bugs, vulnerabilities, design defects or other issues related to technology used or involved in the Company's EVs or operations, (xxviii) the risk that the Company's research and development efforts may not yield expected results, (xxix) risks associated with autonomous driving technologies, (xxx) product recalls that the Company may be required to make, (xxxi) the ability of the Company's controlling shareholder to control and exert significant influence on the Company, (xxxii) the Company's reliance on financial and other support from Vingroup and its affiliates and the close association between the Company and Vingroup and its affiliates and (xxxiii) conflicts of interests with or any events impacting the reputations of Vingroup affiliates or unfavorable market conditions or adverse business operation of Vingroup and Vingroup affiliates. The foregoing list of factors is not exhaustive. Forward-looking statements are not guarantees of future performance. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company's registration statement on Form F-4 filed by the Company with the U.S. Securities and Exchange Commission (the "SEC"), Black Spade's Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 10, 2023, Black Spade's Quarterly Report on Form 10-Q for the three-months ended March 31, 2023, which was filed with the SEC on May 15, 2023, and other documents filed by the Company and/or Black Spade from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and all forward-looking statements in this document are qualified by these cautionary statements. The Company and Black Spade assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither the Company nor Black Spade gives any assurance that either the Company or Black Spade will achieve its expectations. The inclusion of any statement in this communication does not constitute an admission by the Company or Black Spade or any other person that the events or circumstances described in such statement are material.

Additional Information and Where to Find It
This document relates to a proposed transaction between the Company and Black Spade. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. In connection with the Business Combination, the Company filed a registration statement on Form F-4 with the SEC (as may be amended from time to time, the "Registration Statement") on June 15, 2023, which included a proxy statement of Black Spade and a prospectus of the Company. The SEC declared the Registration Statement effective on July 28, 2023.

The Registration Statement, including the proxy statement/prospectus contained therein, contains important information about the Business Combination and the other matters to be voted upon at a meeting of Black Spade's shareholders to be held to approve the Business Combination (and related matters). Black Spade also file other documents regarding the proposed transaction with the SEC. This document does not contain all the information that should be considered concerning the proposed transactions and is not intended to form the basis of any investment decision or any other decision in respect of the transactions. Before making any voting decision, investors and shareholders of Black Spade are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the Company, Black Spade and the Business Combination.

Investors and shareholders will be able to obtain free copies of the registration statement, proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Black Spade through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by Black Spade may be obtained free of charge from Black Spade's website at https://www.blackspadeacquisition.com/ or by written request to Black Spade at Black Spade Acquisition Co, Suite 2902, 29/F, The Centrium, 60 Wyndham Street, Central Hong Kong.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Participants in Solicitation
Black Spade and the Company and their respective directors and officers may be deemed to be participants in the solicitation of proxies from Black Spade's shareholders in connection with the proposed transaction. Information about Black Spade's directors and executive officers and their ownership of Black Spade's securities is set forth in Black Spade's filings with the SEC, including Black Spade's Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 10, 2023, and the Registration Statement. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully before making any voting or investment decisions. You may obtain free copies of these documents as described in the preceding paragraph.

No Offer or Solicitation
This document is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the proposed transactions or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

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