Join the Pioneers at Saudi Arabia’s Digital Transformation Summit 2024: Innovate, Integrate, Inspire

RIYADH, May 31, 2024 – (ACN Newswire) – As technology advances, modern computer-assisted and Internet crimes are on the rise, necessitating a closer examination of cybercrime and computer forensics in the region. Saudi Arabia, being one of the Middle East’s fastest-growing nations in terms of Internet and mobile phone usage, faces significant challenges in this arena. This exploration particularly focuses on the impact of Internet use and cybercrime on adolescents, highlighting the urgent need for enhanced cybersecurity measures.

In August 2021, a significant cyber attack targeted a major entity in Saudi Arabia, demanding a $50 million ransom in cryptocurrency for the return of approximately 1 terabyte of sensitive data. The breach exploited vulnerabilities in a third-party contractor, prompting immediate isolation of affected systems and collaboration with cybersecurity authorities for investigation and mitigation. This incident underscored the vulnerability of critical infrastructure and emphasized the necessity for robust cybersecurity protocols.

The attack spurred a comprehensive review of cybersecurity measures, leading to upgrades in firewalls, encryption techniques, and third-party vendor protocols. Additionally, it catalyzed increased investment in cybersecurity infrastructure and advanced technologies like generative AI and quantum computing to fortify defenses against future threats. With the rapid adoption of digital technologies, Saudi Arabia must integrate AI-driven defenses while remaining vigilant against AI-enhanced threats.

Overview of the 30th Edition of Digital Transformation Summit, Saudi:

The anticipation mounts as the 30th Edition of the Digital Transformation Summit, co-located with the Saudi Manufacturing Show, gears up to commence in Riyadh, the capital city of the Kingdom of Saudi Arabia. This distinguished summit, forming part of a global series of events spanning over 10 cities across multiple continents, promises to be a pivotal gathering of thought leaders, innovators, and industry experts.

Scheduled to take place on 5th of June, the summit is set to delve into the transformative power of digital technologies, unveiling Riyadh’s remarkable evolution into a smart city and exploring the impact of Saudi Vision 2030 on the nation’s journey towards economic resilience and innovation.

The summit promises to ignite insightful discussions, foster meaningful collaborations, and pave the way for impactful digital transformation initiatives. Attendees can expect to gain invaluable insights into harnessing emerging technologies, navigating cybersecurity challenges, and fostering a culture of innovation within their organizations.

Key Topics at the Event:

Harmonising Saudi Vision 2030: Shaping a Progressive Future for the Kingdom
Riyadh’s Path to Tomorrow with Smart City and Infrastructure
Generative AI – Can You See the Future From Here?
Smart Collaboration Unleashed – Driving Great Teamwork to Thrive not just Survive
People, Process, and Technology: Three Pillars of Digital Transformation

Key Speakers at the Event:

Jayesh Maganlal, Group Chief Information and Digital Officer, ROSHN.
Filip Nekvinda, Chief Information and Digital Officer, Abdul Latif Jameel Enterprises.
Fahad Almoqhim, Chief Information Officer, Saudi Accreditation Center.
Ibraheem Sheerah, Chief Transformation Officer, Saudi Airlines Holding.
Mohammad AlNasser, Chief Risk Officer, Confidential.

For more information on Saudi Manufacturing Show, please click on the link.

Author: Aayesha Zaheer

For Media Enquiries, contact:
Kasturi Nayak (Sr. Marketing Executive)
Kasturi.nayak@exito-e.com
Enquiry@exito-e.com
Exito Media Concepts

Shopee’s logistics partners dispel concerns over monopoly allegations

JAKARTA, May 31, 2024 – (ACN Newswire) – Shopee’s logistics service partners have expressed their support for continued partnerships with the e-commerce company, citing the positive impact on their businesses and communities.

PT Tiki Lintas Nugraha Ekakurir, known as JNE, noted it had successfully collaborated with Shopee as a logistics partner for the past eight years. “Our strong relationship with Shopee is grounded in our joint commitment to developing the digital economy and integrating JNE’s logistics system with Shopee technology,” JNE SVP and Marketing Group Head Eri Palgunadi said.

Since 2016, the partnership has seen significant success, as the demand for logistics services driven by the increasing number of MSME players utilizing Shopee’s sales channels continues to surge. The 33-year-old company plans to continue working with Shopee, and remains committed to innovating its technology and services to support the growth of Indonesian MSMEs.

On May 28, the state-owned courier and logistics service company PT Pos Indonesia (PosID) awarded Shopee as Best Private Partner in a ceremony for partners who consistently support PosID’s work programs in the logistics sector.

Haris, PosIND’s Director of Financial Services Business, noted “As a postal operator, courier service provider, and logistics provider, we are proud to serve millions of Shopee users by connecting sellers to buyers in 514 cities and regions in Indonesia,” he said.

Previously, it was reported that the Business Competition Supervisory Commission (KPPU) suggested that Shopee deliberately discriminated by mass activating select delivery service companies on its seller dashboard.

The Chairman of the E-commerce Logistics Entrepreneurs Association (APLE), Sonny Harsono, offered a different take, explaining that the priority mechanism for couriers is part of a marketing strategy, not an attempt to monopolize. Furthermore, the techniques benefit consumers.

Sonny explained that from his observations, Shopee still provided courier service options in addition to those affiliated with the company. “Therefore, it does not meet the classification of monopoly or oligopoly,” he explained when contacted on Thursday (30/5/2024).

There are more than three courier services on the Shopee platform, leading Sonny to suspect a misinterpretation of the marketing pattern as a violation of healthy business competition regulations, as outlined in Law No. 5 of 1999. “Our concern is that the cross-selling or cross-promotion interpretation is being misunderstood as an attempt at monopolization. Furthermore, buyers can change their delivery provider after check-out,” he said.

“In our opinion, since Shopee still uses other logistics or courier providers, Shopee is merely utilizing marketing techniques to make services more attractive for the broader public.”

Avance Clinical Expands Specialist CNS, Cardiometabolic, and Rare Diseases CRO Services in Europe with Julius Clinical

WAKE FOREST, N.C. | ADELAIDE, AUS, May 31, 2024 – (ACN Newswire) – Avance Clinical, the award-winning Australian and North American market-leading CRO for biotechs has signed a Memorandum of Understanding (MOU) with Julius Clinical, a leading CNS, cardiometabolic, and rare diseases specialist CRO with extensive site relationships in the region.

Meet the Avance Clinical team at BIO 2024 – Book a meeting now.

Julius Clinical, established in 2008 and headquartered in Zeist, The Netherlands, specializes in CNS, cardiometabolic, and rare diseases. The non-exclusive MOU between Avance Clinical and Julius Clinical offers a streamlined global solution for biotech clients.

Avance Clinical CEO, Yvonne Lungershausen noted that Avance Clinical has expanded globally establishing operations now in Europe, Australia, New Zealand, Asia and North America.

She emphasized, “Avance Clinical is now a global CRO for biotechs. In addition to our existing operations, our specialist partner CROs work alongside our teams to ensure our biotech clients benefit from the most experienced scientific, regulatory, and clinical operations teams across various therapeutic areas and regions”.

“Julius Clinical are an ideal partner for Avance Clinical because they lead with scientific expertise and can support our biotech clients with specialist CNS, cardiometabolic and rare diseases clinical operations and site relationships in Europe,” Lungershausen said.

She added, “Julius Clinical clients can also leverage Avance Clinical operations in Asia, Australia, New Zealand, and North America for their expanded later phase trials”.

Julius Clinical has supported over 380 clinical trials, enrolling more than 220,000 participants in around 39 countries.

Lungershausen said that Avance Clinical teams across Europe, Australia, New Zealand, Asia, and North America provide world-class data and facilitate seamless geographic expansions to accelerate drug development programs, with study data accepted by regulatory authorities including the EMA and FDA.

Martijn Wallert, CEO of Julius Clinical, added, “We are excited to be partnering with Avance Clinical. Biotechs seek partners that can start quickly with high-quality data accepted by regulatory agencies like the MHRA, EMA, and US FDA. Together with Avance Clinical, we offer a nimble, flexible, and scientifically robust service, providing a tailored global solution”.

Avance Clinical is committed to accelerating drug development for biotech clients from early to later phase trials, allowing clients to remain with one CRO throughout their clinical development program. “This is our GlobalReady program, currently utilized by more than 90 biotech clients. Our globalized strategy ensures efficiency at every step,” Lungershausen concluded.

Find out more:

Learn about the GlobalReady model
For more information about the benefits of running your next study with Avance Clinical contact us
Request a Proposal here

Media Contact:
Avance Clinical
media@avancecro.com
Kate Thompson

About Avance Clinical

Avance Clinical is the largest premium full-service Australian and North American CRO delivering quality clinical trials, with globally accepted data, in Australia, New Zealand and the US for international biotechs. The company’s clients are biotechs completing Phase I to Phase III of their drug development program that requires fast, agile, and adaptive solution-oriented clinical research services.

Frost & Sullivan Awards
Avance Clinical, a Frost & Sullivan Asia-Pacific CRO Market Leadership Award recipient for the past four years, has been providing CRO services in the region for more than 26 years.

Pre-clinical through to mid to late phase
Avance Clinical offers pre-clinical consulting and regulatory services with their experienced ClinicReady team right from pre-clinical through to Phase III clinical services leveraging significant Australian Government incentive rebates of up to 43.5% and rapid start-up regulatory processes.

With experience across more than 120 indications, the CRO can deliver world-class results and high-quality internationally accepted data for FDA and EMA review.

Technology
Avance Clinical uses state-of-the-art technology and gold standard systems across all functional areas to provide clients with the most effective processes. Medidata, Oracle, TrialHub, Certinia, Salesforce, Zelta and Medrio are just some of the technology partners.

www.avancecro.com

About Julius Clinical

Julius Clinical, founded in 2008 and based in Zeist, The Netherlands, is a scientifically focused CRO providing end-to-end clinical trial service to pharmaceutical and biotechnology customers, as well as governments and academia. Julius Clinical’s renowned scientific leaders are at the forefront of their fields, which combine with operational excellence and a global network of research sites to deliver tailor-made solution for customers and their clinical trials. With a focus on the therapeutic areas of CNS, cardio-metabolic, renal, and rare diseases, Julius Clinical has grown to approximately 200 employees and has supported over 380 clinical trials, enrolling more than 220,000 participants in around 39 countries.

www.juliusclinical.com

It’s time to get a better look at Fosun

HONG KONG, May 31, 2024 – (ACN Newswire) – Over the past few years, many Chinese corporations undergoing transformation and upgrading have experienced a rare “double whammy” in the capital market, pressured by both broader market conditions and their internal challenges.

Now, alongside a renewed optimism about China’s economic outlook, as well as these corporations restoring growth after the challenges of transformation, the “double whammy” they previously experienced may turn into a significant positive momentum boost, underpinned by both a more favorable broader market environment and the strengthening of the companies’ own competitive standing.

Recently, the Chinese listed stocks have become a hot topic in the global capital markets.

Since April, many foreign investment banks have turned bullish on A-shares. UBS has raised its rating on A-shares. Goldman Sachs has recommended global investors to increase their holdings of A-shares, and optimistically forecasted a 40% upside for A-shares. Deutsche Bank, Morgan Stanley and HSBC also remain upbeat about the Chinese market, highlighting the attractive investment opportunities in Chinese assets and the most direct way is to invest in Hong Kong stocks.

Notably, the Hong Kong stock market has reversed the downtrend it had been since February 2021. From 20 April to 20 May this year, the Hang Seng Index had maintained its bullish momentum, rising from around 16,000 points to nearly 20,000 points, with trading volume consistently expanding.

Amid this broader market upturn, a group of well-known privately-owned listed companies have been rallying back from their lowest levels.

Fosun International (HKEX: 0656) is one of them.

As of 27 March 2024, Fosun International’s share price had dropped to a 10-year low of HK$3.93.

However, its share price has surged over 30% from the bottom in less than two months, outperforming the Hang Seng Index by more than 10 percentage points, demonstrating its great rebound momentum.

The turnaround from dropping to a historical low to staging a strong rebound has certainly been underpinned by the company’s solid performance. Fosun International delivered better-than-expected results in 2023, with revenue reaching RMB198.2 billion, up 8.6% year-on-year, and a profit attributable to owners of the parent increasing by RMB2.21 billion year-on-year to RMB1.38 billion.

Nonetheless, a re-rating of Fosun is likely to have a greater impact than its recent solid performance.

The “Davis double play” is a concept known in the capital markets. When a company’s performance trends downward, the market’s valuation expectations for the company will also decline. As a result, the company’s share price will take a beating from both the falling earnings and falling valuation multiples. Conversely, when a company is performing well, its share price will benefit from the combination of better earnings and a higher market valuation.

Fosun International’s recent declines could be considered as a “double whammy”.

First, Fosun endured the “double whammy” faced by Chinese assets.

Ever since the US launched the trade war against China in 2018, the Chinese economy has had to contend with an added layer of uncertainty. The COVID-19 pandemic, the debt crisis among real estate enterprises, and the downturn in the property market since 2020 have all contributed to weakening market expectations and an actual slowdown in economic growth.

Despite their strong underlying performance, Chinese listed companies were hit by a “double whammy” from the broader market, as expectations weakened and growth slowed.

And some privately-owned corporations such as Fosun International have been even more unfortunate.

Firstly, the pandemic has dealt a severe blow to the development of Fosun’s businesses, with operations in consumer and tourism sectors virtually grinding to a halt.

Secondly, the combined pressure of tight cash flow and a dramatic market liquidity crunch have temporarily saddled the company with debt and cash flow challenges.

Having already endured the “double whammy” due to the broader market conditions, Fosun International then experienced its share price plunging significantly and its valuation falling from 0.7x P/B (Price-to-Book Ratio) all the way down to below 0.3x.

However, the plunge also presents opportunities. Once the trend shifts from a “double whammy” to a “double play”, the plunge could transform into a sharp rebound. It is very likely that Fosun International can transit from a “double whammy” to a “double play” now.

Firstly, there are signs of a broader “double play” for Chinese stocks and assets in global capital markets. As mentioned earlier, China’s economic outlook has been improving, with greater expectations stemming from the upcoming third plenary session of the 20th Communist Party of China (CPC) Central Committee. Meanwhile, the threat of US interest rate hikes is receding. With US stocks at record highs and Hong Kong/A-shares severely oversold, the foundation for a bullish trend in Chinese markets is strengthening.

Secondly, and most importantly, Fosun International is poised for a “double play” based on its own development and market expectations.

In fact, Fosun International experienced a strong outperformance from 2016 to 2018. During that period, the Hang Seng Index rose from around 18,000 to 33,000 points, while Fosun’s share price surged from HK$8 to over HK$18.

This outperformance was attributed to Chairman Guo Guangchang’s strategic adjustments and repositioning of Fosun.

At the time, Fosun had a highly diversified global business portfolio, but its core business was not focused enough.

Even as the real estate and related industries were booming, Guo Guangchang recognized the underlying risks and opportunities, he believed the Chinese economy would rapidly transform towards consumer-driven and innovation-driven growth. He initiated a new round of strategic changes for Fosun. While maintaining its globalization strategy, Fosun began to focus more on consumer and technology innovation sectors. At the same time, Fosun strengthened the development of its core businesses.

With this new strategy, Fosun International timely halted its investments in capital-intensive real estate businesses, deleveraged, and strengthened the development of its core industries. This gradually shaped its current four major business segments, Health, Happiness, Wealth, and Intelligent Manufacturing, and clearly defined Fosun’s new positioning as a global innovation-driven consumer group.

As a result, the capital market began to reassess the prospects of Fosun International.

In hindsight, Fosun International’s strategic adjustment was very timely and correct. It had already been making adjustments well ahead of time. Therefore, when the headwinds hit in 2022, Fosun was better equipped to withstand the impact. In addition, Fosun accelerated the divestment of non-core, non-strategy assets, consolidated its financial strength and strengthened the development of its core industries, thoroughly carrying out the strategic adjustment.

During this period, Fosun determinedly de-leveraged and divested from non-core businesses, resulting in a total cash flow of nearly RMB50.0 billion in 2022 and 2023. In addition, Fosun bolstered the development of core businesses by tapping into its technology innovation and globalization capabilities, thereby enhancing the profitability of core businesses.

In 2023, Fosun International’s industrial operation profit reached RMB4.9 billion, up 20% year-on-year. Its four core subsidiaries, namely Yuyuan, Fosun Pharma, Fosun Insurance Portugal, and Fosun Tourism Group (FTG), all saw significant revenue growth, contributing 72% of the total revenue.

After a round of major optimizations and adjustments, Fosun International, leveraging its outstanding global resource integration and industrial operational capabilities, has reoriented its core businesses around pharmaceuticals, tourism, consumption, and insurance sectors. Fosun’s core businesses have not only achieved a global presence, but they have also accelerated the globalization and resource synergy across these core business segments, all aimed at driving steady and profitable growth.

The pharmaceutical, tourism, consumption, and insurance sectors all share a common characteristic. They have qualities that protect them against market downturns and volatility, and long-term growth potential. This diversified business portfolio can better balance risks during market downturns and capture opportunities when the market is booming.

For instance, when tourism and consumption sectors were hit hard in recent years, Fosun Pharma remained resilient and profitable, which helped stabilize the overall performance of Fosun. When the overall market is thriving, the different sectors can share resources amongst each other, achieving the “multiplier effect” as described by Guo Guangchang.

This has fundamentally changed Fosun International’s outlook as it is now driven by sustainable business operations and profitability.

Fosun International’s positioning is gradually becoming clearer. It focuses on “core businesses in the household consumption sector”. Fosun has been focusing on industries where it has established competitive advantages and continuously enhancing its business presence, resulting in greater certainty and growth potential than a single industry.

While there is still a lot of work to be done for Fosun International to truly realize this objective, the trend has been established and is beginning to manifest in the growth of its core businesses.

Taking results of the 2023 and the 1Q2024 as an example, Fosun International’s subsidiaries, FTG, Yuyuan, Fosun Pharma and the insurance business have largely achieved double-digit revenue and profitability improvements, and are exhibiting new growth potential.

In particular, Fosun Pharma’s flagship innovative drug company, Shanghai Henlius, achieved profitability for the first time in 2023 and is accelerating the pace of internationalization. Recently, Guo Guangchang’s remarks at a forum regarding the potential to “cure cancer” have garnered widespread attention. Guo Guangchang’s remarks are underpinned by Fosun’s comprehensive strategy in cancer treatment, spanning from monoclonal antibodies to CAR-T platforms, as well as the ongoing delivery of leading breakthroughs in this field.

In terms of globalization, Fosun has now established a profound business presence in more than 35 countries and regions across five continents globally. In 2023, its overseas revenue accounted for 45% of the total revenue, and total investment in technology innovation amounted to RMB7.4 billion, representing a year-on-year increase of 14%.

In end-May, Fosun International announced the sale of 99.743% of its subsidiary’s shares in the German private bank HAL to ABN AMRO Bank for a total consideration of approximately EUR670.3 million, while fully retaining HAL’s asset servicing business. As for the market rumors about Fosun potentially selling Atlantis Sanya and Shede Spirits, according to an insider source, these were found to be just unfounded rumors. Fosun not only has no plans to divest these assets, but is in fact further strengthening their operations. This further underscores Fosun International’s commitment to focusing on its core family consumption business.

All in all, Fosun International has encountered challenges since 2022, but this has actually led to a more thorough execution of the strategic transformation since 2016. This has resulted in a fundamental transformation for Fosun. Fosun has successfully undergone a transformative upgrade to truly focus on the high-potential global family consumption sector.

Alongside its strong share price performance, Fosun’s US dollar-denominated offshore bonds have also been steadily recovering since Q4 2023 from the steep declines they experienced in 2022 due to overly pessimistic market sentiment. Currently, the valuation of Fosun’s US dollar bonds has returned to early 2022 levels, making it one of the most well-performing bonds in the broader Asian high-yield bond market.

The latest round of challenges and transformation for Fosun International reflect the larger economic transformation happening in China

Over the past few years, many Chinese corporations undergoing transformation have experienced a rare “double whammy” in the capital market, pressured by both broader market conditions and their internal challenges. Now, alongside a renewed optimism about China’s economic outlook, as well as these corporations restoring growth after the challenges of transformation, the “double whammy” they previously experienced could possibly turn into a significant positive momentum boost, underpinned by both a more favorable broader market environment and the strengthening of the companies’ own competitive standing.

Noah’s First-Quarter 2024 Results Highlight Strategic Transformation

SHANGHAI, May 31, 2024 – (ACN Newswire) – Noah Holdings Limited (“the Company,” or “Noah”) (NYSE: NOAH and HKEX: 6686), a leading, pioneer wealth-management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors, today highlighted its strategic transformation and the changes being made to the business to ensure long-term and healthy growth in its financial results for the first quarter ended March 31, 2024.

In the first quarter, Noah navigated through a turbulent domestic economic situation. This has put high-net-worth individuals on their back feet and injected a measure of investment caution. Overseas, the Federal Reserve is expected to maintain its regime of elevated interest rates for longer.

That doesn’t mean that Noah’s commitment to driving operational efficiencies and overseas growth has been dimmed—not at all. Noah has been busy as of late with transformations to its business, as well as a major leadership change—while at the same time reporting a number of positive financial results.

Zhe Yin, the Chief Executive Officer of Noah Holdings, said: “The macroeconomic environment has been a challenge, but we have responded with a strategic transformation that we believe will set us up for future success. From day one, we adhered to our core principles: a strict segregation of client capital, no maturity mismatches, and no cross-border movement of funds. Our decision in 2019 to shift to a more standardized product offering while winding down all non-standard private credit products—including domestic residential real-estate funds—has served Noah clients well in turbulent times. The restructuring of our domestic wealth management business is, at present, at a critical stage as we consolidate and further optimize our operations. At the same time, our expansion overseas remains on track—but will still require additional resources and investments in the near term. Taken as a whole, these measures will require more time, but once complete, we expect sales to stabilize in the second half of this year.”

Financials and Other Success Metrics

Noah reported first-quarter net revenues of RMB 650 million, a decrease of 19.2% from a year earlier. Its wealth management business generated revenues of RMB 463 million, a decrease of 21.2% from a year earlier. Its asset management business generated revenues of RMB 180 million, a decrease of 12.1% from a year earlier. These changes are in line with Noah’s strategic realignment and are part of a deliberate effort to enhance the Company’s long-term growth trajectory. Noah’s overseas expansion has achieved solid results by contributing 77.1% of the revenue generated from new business and products, while the domestic business accounted for 22.9%.

Operating profit for the first quarter of 2024 was RMB 121 million, and Noah reported an operating profit margin of 18.7%.

In the overseas business, Noah is committed to healthy and sustainable growth outside of China. Overseas assets under management (AUM) grew 11.6% from a year earlier to RMB 37.3 billion, accounting for 24.4% of total AUM. Also, overseas assets under administration (AUA) grew 14.8% from a year earlier, accounting for 24.1% of total AUA. This reflected Noah’s ability to capture a larger share of its clients’ U.S. dollar wallets and its determination on going global.

Reflecting additional overseas success, as of the end of the quarter, overseas registered clients increased 17.1% from a year earlier. In addition, the number of overseas, active high-net-worth clients increased 39.6% from a year earlier. Total transaction value during the quarter reached RMB 8.4 billion, up 58.5% from the year-earlier period.

Other Changes

Noah is pleased to have had the opportunity to reflect upon its successes since the appointment of its new CEO, Zhe Yin. Mr. Yin, a co-founder and director of the Company and Chairman of Gopher Asset Management Co., Ltd., was appointed to the CEO position late last year. He succeeded Jingbo Wang, who will retain her post as Chairlady of the Board. Mr. Yin’s appointment was aimed at achieving better corporate governance pursuant to relevant regulations in Hong Kong and reflected the Company’s commitment to adhering to corporate governance best practices.

Operational Changes That Position Noah for the Future

Earlier, Noah discussed how economic challenges spurred it to make operational changes to the business. The restructuring of the Company’s wealth management business is on track and is at an important stage. Over the past few quarters, Noah has consolidated its operations to better meet the needs of its clients. It cut the number of mainland Chinese cities in which it operates to 18 from nearly 80, which has lowered labor costs and improved operational efficiencies. By strategically consolidating its presence in core cities, Noah will be better positioned to grow and make strategic investments.

At the same time, Noah is expanding overseas, which requires significant resource allocations. The Company is reorienting its operations and personnel toward global markets, where demand for asset diversification is growing. This may bring short-term challenges, including temporary fluctuations in Noah’s financial performance. Noah is confident this transformation will lay a solid foundation for robust and sustainable growth and generate greater value for shareholders.

Jingbo Wang, Co-Founder and Chairlady, said: “Noah was founded with a deep respect for financial principles and a steadfast commitment to investor enlightenment. In this volatile market environment, our strategy is anchored in the protection and security of our clients’ assets. Our primary goal is the preservation of assets, which we do by identifying top-tier investment opportunities globally. Safeguarding our clients’ interests is our paramount responsibility, and it is the foundation upon which we will pursue future growth.”

Ms. Wang continued: “Confronting the evolving challenges to our domestic business, we are streamlining operations and concentrating our efforts in key strategic cities. As we transition, we are deploying advanced operational models and service philosophies from international markets to enhance our global competitiveness and strengthen our international profile. With a sharp vision and strong determination, we are navigating these strategic changes to become stronger, more agile, and better positioned to serve our clients globally.”

Noah appreciates the patience of its investors and the lasting relationships with its clients. As Mandarin-speaking, high-net-worth investors become more mature and globally oriented, the trust-based relationships that Noah has built at home will allow it to continue serving them as they look overseas.

ABOUT NOAH HOLDINGS LIMITED

Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for mandarin-speaking high-net-worth investors. Noah’s American depositary shares, or ADSs, are listed on the New York Stock Exchange under the symbol “NOAH”, and its shares are listed on the main board of the Hong Kong Stock Exchange under the stock code “6686.” One ADS represents five ordinary shares, par value $0.00005 per share. To the Company’s knowledge, as of March 31, 2024, 177,020,325 of its ordinary shares were held by one record holder in the United States, which is Citibank, N. A., the depositary of its ADS program. The number of beneficial owners of its ADSs in the United States is much larger than the number of record holders of its ordinary shares in the United States.

In the first quarter of 2024, Noah distributed RMB18.9 billion (US$2.6 billion) of investment products. As of March 31, 2024, through Gopher Asset Management, Noah managed assets totaling RMB153.3 billion (US$21.2 billion).

Noah’s wealth management business primarily distributes private equity, public securities and insurance products denominated in RMB and other currencies. Noah delivers customized financial solutions to clients through a network of 1,109 relationship managers across 18 cities in mainland China, and serves the international investment needs of its clients through offices in Hong Kong (China), Taiwan (China), New York, Silicon Valley and Singapore as of March 31, 2024. Noah’s wealth management business had 457,705 registered clients as of March 31, 2024. Through Gopher Asset Management, Noah manages private equity, public securities, real estate, multi-strategy and other investments denominated in Renminbi and other currencies. Noah also provides other businesses.

For more information, please visit Noah at ir.noahgroup.com.

SAFE HARBOR STATEMENT

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These statements include, but are not limited to, estimates regarding the sufficiency of Noah’s cash and cash equivalents and liquidity risk. A number of factors could cause Noah’s actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management and asset management market in China and internationally; its expectations regarding demand for and market acceptance of the products it distributes; investment risks associated with investment products distributed to Noah’s investors, including the risk of default by counterparties or loss of value due to market or business conditions or misconduct by counterparties; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industries in China and internationally; general economic and business conditions globally and in China; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah’s filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law.

Contact info:
Noah Holdings Limited
E-mail: in_communication@noahgroup.com

Loop Industries and Reed Management Sign Agreement for EUR 35 Million Financing for Global Commercialization of the Infinite Loop(TM) Technology and To Form French Joint Venture

LOOP AND REED MANAGEMENT SAS (“REED”) SIGN AGREEMENT FOR €35 MILLION IN FINANCING TO CONTRIBUTE TO THE GLOBAL COMMERCIAL ROLLOUT OF THE INFINITE LOOP™ TECHNOLOGY
LOOP AND REED TO FORM JOINT VENTURE TO COMMERCIALIZE LOOP’S TECHNOLOGY ACROSS EUROPE
PARTNERSHIP IN LINE WITH LOOP’S STRATEGY OF DEPLOYING CAPITAL IN LOW-COST MANUFACTURING COUNTRIES SUCH AS INDIA AND HAVE A MORE ASSET-LIGHT MODEL FOCUSED ON LICENSING ITS TECHNOLOGY IN HIGHER COST COUNTRIES

MONTREAL, QUEBEC, May 31, 2024 – (ACN Newswire) – Loop Industries, Inc. (NASDAQ:LOOP) (the “Company,” “Loop,” “we,” “us,” or “our”), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate (“PET”) plastic and polyester fiber, today announced that the Company and Reed, a European investment firm focused on high impact and technology-enabled infrastructure, have signed definitive binding agreements, subject to certain closing conditions, for an investment of €35 million from Reed to fund the global commercialization of the Infinite Loop™ technology and have agreed to form a 50/50 joint venture for the European deployment of Loop’s technology.

The signing of this agreement occurred subsequent to the Company’s fourth quarter and full fiscal year 2024 financial release and 10-K filing and is therefore being announced separately as a further update to these filings.

Under the terms of the agreement, which has been signed following the completion by Reed of extensive operational, technical, ESG, and legal due diligence, Reed will provide capital as follows:

€10M investment in a Convertible Preferred Security to be issued by Loop, which contains a 13% PIK dividend rate and 5-year term;
€25M loan to Loop in two equal tranches – first tranche to support global deployment opportunities paid at closing and second tranche to support European deployment opportunities paid in the following 12 months with both tranches having a 13% PIK interest rate and 3-year term;

Loop is also concurrently negotiating financing with a governmental agency in order to complete the Company’s required financing for its planned monomer facility in India.

The closing of the transaction is subject to the fulfillment of certain closing conditions, principally the conditions that (i) Reed shall have successfully completed its first capital raising for its fund; and (ii) Loop shall have received a binding financing commitment from a governmental agency.

The Company understands that Reed’s funding negotiations are progressing well. The Company also believes that its process to obtain the government funding is advancing positively. While there can be no assurance that the abovementioned closing conditions will be met, the Company currently anticipates that the transaction should close by the end of the second quarter of the current fiscal year.

Julien Touati, CEO of Reed, commented saying: “We are convinced at Reed that tackling global sustainability issues such as plastic pollution requires scaling up the best technologies globally and applying them to large-scale capital-intensive projects locally. Our partnership with Loop Industries is a fantastic illustration of how this approach comes into play. After months of active engagement, we have been more than impressed with Loop management’s vision as well as the reliability and versatility of Loop’s technology. We will serve as a trusted partner for European expansion and are deeply honored to support Loop’s scale up in an active manner alongside Daniel and his team.”

Daniel Solomita, Founder and CEO of Loop Industries, commented saying: “We are thrilled to form this strategic partnership with Reed, this partnership enhances our strategy of deploying capital in low-cost manufacturing countries such as India and focus more on an asset-light licensing model in higher cost countries such as in western Europe. In addition to providing the capital required for Loop’s equity commitment in India, this partnership also brings strategic support from Reed’s experienced leadership thanks to their in-depth industry experience as well as their established relationships with major financial institutions.”

About Loop Industries

Loop Industries is a technology company whose mission is to accelerate the world’s shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop™ branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop™ PET plastic and polyester fiber can be recycled infinitely without degradation of quality, successfully closing the plastic loop. Loop Industries is contributing to the global movement towards a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.

Common shares of the Company are listed on the NASDAQ Global Market under the symbol “LOOP.”

For more information, please visit www.loopindustries.com. Follow Loop on Twitter: @loopindustries, Instagram: loopindustries, Facebook: Loop Industries and LinkedIn: Loop Industries

Forward-Looking Statements

This news release contains “forward-looking statements” as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “should,” “could,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or “continue,” the negative of such terms or similar words. These forward-looking statements include, without limitation, statements about Loop’s market opportunity, its strategies, ability to improve and expand its capabilities, competition, expected activities and expenditures as Loop pursues its business plan, the adequacy of its available cash resources, regulatory compliance, plans for future growth and future operations, the size of Loop’s addressable market, market trends, and the effectiveness of Loop’s internal control over financial reporting. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond Loop’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with among other things: (i) commercialization of our technology and products, (ii) our status of relationship with partners, (iii) development and protection of our intellectual property and products, (iv) industry competition, (v) our need for and ability to obtain additional funding relative to our current and future financial commitments, (vi) engineering, contracting, and building our manufacturing facilities, (vii) our ability to scale, manufacture, and sell our products in order to generate revenues, (viii) our proposed business model and our ability to execute thereon, (ix) the ability to obtain the necessary approvals or satisfy any closing conditions in respect of any of our proposed partnerships, (x) our joint venture projects and our ability to recover certain expenditures in connection therewith, (xi) adverse effects on the Company’s business and operations as a result of increased regulatory, media, or financial reporting scrutiny, practices, rumors, or otherwise, (xii) disease epidemics and other health-related concerns and crises, which could result in reduced access to capital markets, supply chain disruptions and scrutiny, embargoing of goods produced in affected areas, government-imposed mandatory business closures and any resulting furloughs of our employees, government employment subsidy programs, travel restrictions or the like to prevent the spread of disease, or market or other changes that could result in non-cash impairments of our intangible assets, and property, plant and equipment, (xiii) the effect of the continuing worldwide macroeconomic uncertainty and its impacts, including inflation, market volatility and fluctuations in foreign currency exchange and interest rates, (xiv) the outcome of any U.S. Securities and Exchange Commission (“SEC”) investigations or class action litigation filed against us, (xv) our ability to hire and/or retain qualified employees and consultants, (xvi) other events or circumstances over which we have little or no control, and (xvii) other factors discussed in Loop’s Annual Report on Form 10-K for the fiscal year ended February 29, 2024 filed with the SEC and in Loop’s subsequent filings with the SEC. More detailed information about Loop and the risk factors that may affect the realization of forward-looking statements is set forth in Loop’s filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. Loop assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

For More Information:
Investor Relations:
Kevin C. O’Dowd, Investor Relations
Loop Industries, Inc.
+1 617-755-4602
kodowd@loopindustries.com

Media Inquiries:
Andrea Kostiuk, VP Marketing & Communications
Loop Industries, Inc.
+1 (450) 951-8555
akostiuk@loopindustries.com

SOURCE: Loop Industries, Inc.

World CyberCon META Wraps Up, Highlighting Dubai’s Expanding Cybersecurity Prowess

DUBAI, May 30, 2024 – (ACN Newswire) – The Cyber Express proudly announces the successful conclusion of the third edition of the World CyberCon META Edition 2024. This landmark event, hosted at Al Habtoor Palace in the heart of Dubai, attracted over 100 attendees and featured more than six hours of intensive collaboration and networking. Participants from over 20 different industries demonstrated the extensive relevance and urgency of cybersecurity in today’s interconnected world.

The conference provided a crucial platform for addressing the escalating cybersecurity threats in the UAE, which is experiencing a significant digital transformation. According to Mordor Intelligence, the UAE Cybersecurity Market is projected to grow to approximately USD 950 million by 2028, highlighting the increasing demand for effective cybersecurity measures.

People Registering for World CyberCon Meta Edition

A standout moment of the conference was the keynote address by Irene Corpuz, a distinguished cybersecurity expert and co-founder of Women in Cyber Security Middle East. Corpuz delivered a compelling speech highlighting the increasing risks that cyberattacks pose to startup organizations, stressing that even small startups are prime targets for cybercriminals.

World CyberCon META Edition: Diverse Sessions and Expert Panels

This year’s World CyberCon showcased a diverse array of insightful sessions and expert-led panels. Among the highlights was a compelling panel discussion led by Jo Mikleus, Senior Vice President at Cyble. The panel featured an esteemed all-women lineup of cyber experts, including Irene Corpuz, Sithembile Songo, Eng. Dina AlSalamen, and Afra Mohammed Almansoori. Together, they discussed the transformative impact of AI on cybersecurity, highlighting its crucial role in advancing threat management and security measures.

(L-R: Dina Alsalamen, VP, Head of Cyber and Information Security Department, Bank ABC; Irene Corpuz – Co-Founder, Women in Cyber Security Middle East; Sithembile (Nkosi) Songo – Chief Information Security Officer, ESKOM; Afra Mohammed Almansoori – Business Analyst, Digital Dubai and Jo Mikleus – Senior Vice President, Cyble Inc. (Moderator))

The experts delved into how AI and ML technologies are transforming threat detection and response capabilities in cybersecurity. They shared use cases of behavioral analytics, anomaly detection, and automated incident response, showcasing how these technologies are being utilized to enhance security frameworks.

Celebrating Excellence: The META Cybersecurity Awards

The event also celebrated achievements within the cybersecurity community through its prestigious awards ceremony. Heartfelt congratulations go out to all awardees for their pioneering contributions to the field. The awards highlighted the excellence and innovation driving the cybersecurity sector forward.

Special thanks to our speakers, attendees, and partners, including Cyble Inc. and Synax Technologies, for their integral roles in the conference’s success.

The presence and support of the Ministry of Interior (MoI) significantly enriched the discussions and outcomes of the event. We thank Mariam Alhammadi, MOI SOC Manager, and Saeed M. AlShebli, Deputy Director of Digital Security Department, for their invaluable contributions and insights.

Augustin Kurian, Editor-in-Chief at The Cyber Express, shared his appreciation, stating, “The support and engagement from the entire cybersecurity community have been truly remarkable. This year’s conference was not only a resounding success in terms of knowledge sharing but also underscored Dubai’s role as a prominent tech hub in the face of worldwide digital challenges. A heartfelt thank you to all our participants, and to Dubai for its exceptional hospitality.”

World CyberCon META Edition has firmly established itself as a must-attend event in the cybersecurity calendar. The third edition of World CyberCon was a testament to the dynamic and collaborative spirit of the cybersecurity community.

The conference provided a vital platform for sharing knowledge, addressing pressing challenges, and exploring innovative solutions. With its blend of expert insights, collaborative discussions, and recognition of excellence, World CyberCon continues to play a pivotal role in advancing cybersecurity resilience.

Looking Ahead

The Cyber Express is excited to continue fostering these essential discussions in future editions. The success of this year’s World CyberCon META Edition sets a high benchmark for the upcoming editions, promising even more engaging content, expert insights, and collaborative opportunities. As the digital landscape continues to evolve, the importance of such gatherings cannot be overstated.

They not only provide a space for addressing current challenges but also pave the way for future innovations and solutions in cybersecurity.

For more information about World CyberCon and upcoming events, please visit thecyberexpress.com.

About The Cyber Express

TheCyberExpress.com is a leading online platform that provides the latest news, insights, and resources in the field of cybersecurity. With a focus on delivering timely and accurate information, The Cyber Express aims to empower individuals and organizations with the knowledge they need to protect their digital assets in an increasingly complex cybersecurity landscape.

For more information about the event, sponsorship opportunities, or media inquiries, please contact Ashish Jaiswal at ashish.j@thecyberexpress.com.

Varia Reports Strong Q4 FY2024 with RM65.78 Million in Revenue with PBT of RM1.99 Million

KUALA LUMPUR, May 30, 2024 – (ACN Newswire) – Varia Berhad (“Varia” or the “Group”), an experienced player in the field of construction and property development, is pleased to announce its financial results for the fourth quarter of the financial year 2024 (“Q4 FY2024”), demonstrating substantial growth and continued momentum from previous quarters. Varia’s revenue for Q4 FY2024 surged to RM65.78 million, showcasing a 1,654% increase compared to a negative revenue of RM4.23 million in corresponding year’s quarter (“Q4 FY2023”), primarily driven by the successful integration of Pembinaan Teguh Maju Sdn Bhd (“PTM”) and strategic leadership initiatives, highlights the new management’s effectiveness in steering the Group towards sustainable growth.

Datuk Benson Lau, Managing Director of Varia

The Group reported a Profit Before Tax (“PBT”) of RM1.99 million in Q4 FY2024, a 33% increase from a PBT of RM1.49 million in the same period last year. This robust performance was primarily driven by the construction segment, which continues to benefit from the full integration of PTM.

The construction segment generated RM58.62 million in revenue and RM5.90 million in PBT, with key contributions from projects such as Perkeso, Pulau Indah, and Kuarters Hospital Pulau Pinang (“KHPP”). For property segment, Taman Arowana Phase 1, 106 units of single-storey development project generated revenue of RM0.35 million and a gross profit of RM0.05 million.

For the twelve months ended 31 March 2024 (“12M FY2024”), Varia’s revenue stood at RM148.31 million, a remarkable 404% increase from RM29.41 million in the corresponding period of the previous year (“12M FY2023”). The Group achieved a PBT of RM8.39 million for 12M FY2024, a substantial turnaround from a Loss Before Tax (“LBT”) of RM10.81 million in 12M FY2023.

Datuk Benson Lau, Managing Director of Varia, remarked, “The strategic acquisition of PTM and the successful execution of significant projects have been pivotal to Varia’s outstanding financial performance in Q4 FY2024. Our revenue growth and improved profitability highlight our capability to deliver on our strategic goals. We are optimistic about sustaining this momentum as we continue to explore new opportunities within the construction and property development sectors.”

Looking forward, Varia is poised for continued growth, bolstered by PTM’s diversified order book valued at RM1.10 billion, which includes a mix of building construction and mechanical and electrical (M&E) projects. On 29 January 2024, Mewah Kota Sdn Bhd, a wholly-owned subsidiary of Varia, was awarded a Letter of Award from Kator Construction Sdn Bhd for the “Rancangan Tebatan Banjir Sungai Klang di Seksyen 25 Shah Alam, Daerah Klang, Selangor” project. This project, valued at RM94.86 million, will span 60 months, commencing on 1 February 2024.

Varia Berhad https://stella-holdings.com.my/

Minetech Records RM128.14 Million Revenue in 12M FY2024 amidst Challenging Market Conditions

KUALA LUMPUR, May 30, 2024 – (ACN Newswire) – Minetech Resources Berhad (“Minetech” or the “Company”), is pleased to report a solid set of financial performance for the fourth quarter ended 31 March 2024 (“Q4 FY2024”). Despite a challenging market environment, Minetech achieved a revenue of RM33.47 million for the quarter, reflecting the Company’s resilience and operational strength. The Company recorded a gross profit of RM3.62 million in Q4 FY2024, an improvement from RM3.40 million in the corresponding quarter of the previous year (“Q4 FY2023”).

Encik Abang Abdillah Izzarim, the Executive Chairman of Minetech

For Q4 FY2024, both Civil Engineering division and Bituminous Products see a slight decrease of revenue to RM23.01 million and RM7.6 million respectively. However, the Energy segment, representing Minetech’s venture into renewable energy, contributed RM1.78 million in revenue for Q4 FY2024, marking a successful entry into the renewable energy sector.

For the financial year ended 31 March 2024 (“FY2024”), Minetech reported a revenue of RM128.14 million, an increase from RM123.77 million in the previous year. The gross profit for the year was RM14.97 million, up from RM13.42 million in the previous year. The Company recorded a loss before tax of RM6.85 million, an improvement from the RM7.92 million loss in the previous financial year. The net loss for the financial year was RM8.82 million, a notable improvement from the net loss of RM11.87 million in the previous year. This improvement is primarily attributed to enhanced operational efficiencies, stringent cost management practices, and strategic project completions that reduced overall expenditure. The Company also benefited from increased contributions from the Energy segment, which helped offset declines in other areas.

A significant highlight for Minetech Construction Sdn. Bhd. (“MCSB”), a wholly-owned subsidiary, is the renewal of a substantial contract with Able Return Sdn. Bhd. and Damar Consolidated Exploration Sdn. Bhd. for the Selinsing Gold Mine Project, valued at approximately RM230.0 million. This renewal, effective from 1 January 2024 to 31 December 2026, signifies an increase in production volume and contract value, reflecting the expanded mining area and operational scope. This contract sets a positive trajectory for Minetech’s future projects and reinforces the Company’s capability and commitment to growth.

Encik Abang Abdillah Izzarim, the Executive Chairman of Minetech, expressed his perspective on the Company’s performance, stating, “While the quarter presented several challenges, our strategic direction and adaptability have proven effective. The contract renewal for the Selinsing Gold Mine Project is a testament to our capabilities and commitment to growth. We remain focused on driving sustainable value for our stakeholders as we navigate the evolving market landscape.”

Adding to this, he highlighted the Company’s goal of turning profitable: “Our primary objective moving forward is to steer Minetech towards profitability. Through strategic initiatives, cost management, and operational efficiency, we are dedicated to transforming our financial performance and delivering long-term value to our shareholders.”

As at 5:00 P.M. 30 May 2024, the share price of Minetech closed at RM0.135, reflecting a market capitalisation of RM241 million.

Minetech Resources Berhad https://minetech.com.my/

The $Bobby Token launches at Consensus 2024; Announces Kennedy Campaign Community Activator, Kyle Kemper, as Advisor

AUSTIN, TX, May 30, 2024 – (ACN Newswire) – The $Bobby Politifi Meme Token, trading on Uniswap under the ticker $BOBBY, has announced its highly anticipated relaunch at Consensus 2024 (29-31 May, 2024, Texas, USA).

The official launch event took place on May 29, 2024, marking a new chapter for the token that has rapidly evolved from a meme coin into a powerful movement supporting Kennedy’s beliefs and his fight for crypto’s future.

$Bobby is more than just a token; it is a movement that resonates with the ideals of independence in the face of a captured, secretive, and centralized government — a cause championed by independent presidential candidate Robert F. Kennedy Jr.

AT CONSENSUS…

The $Bobby token has sponsored Kyle Kemper’s Kennedy24 bus, which will be parked in front of the Consensus event venue. The team, with Kyle at the fore, will be handing out Kennedy24 and $Bobbymerchandise to the event’s crypto-enthusiast attendees, and are planning a few other surprises.

THE JOURNEY SO FAR…

The $Bobby Token originally launched at ETH Denver under the name RFKJ, and hit an ATH earlier this year with a $35m market cap. Based on community feedback, it has been rebranded and is relaunching using the name ‘Bobby’ by which Kennedy is affectionately called by his friends, family and supporters. This strategic move underscores the project’s commitment to listening to its community and evolving to better meet its needs and aspirations.

In a market crowded with political meme coins, the $Bobby Token stands out by having real substance behind it. They have already donated almost $100,000 to Kennedy-aligned causes, they churn out some of the most viral Kennedy content online, and are becoming a leading figure in pro-Kennedy social media circles – with over 1M views on their socials last month alone.

Kennedy has frequently articulated his support for cryptocurrencies, highlighting their potential to combat inflation and provide independence from government and monopolistic banking systems.

“Cryptocurrency takes control away from the government and from the monopolistic banking system, which uses money printing to shift wealth upward to the oligarchy of billionaires while impoverishing regular Americans,” Kennedy recently remarked.

And he asserted in a recent tweet that “Cryptocurrency is the off-ramp for our addiction to the Federal Reserve. It’s the best hedge against inflation.”

KYLE KEMPER JOINS AS ADVISOR

Kyle Kemper, a renowned figure in the cryptocurrency space, has joined the $Bobby Token team as an advisor. With over a decade of experience in cryptocurrency, Kemper is poised to bring his extensive knowledge, creativity, and passionate advocacy to the $Bobby Token.

His involvement is expected to drive community development and global awareness through innovative crypto solutions. Kemper was recently interviewed on The Tucker Carlson network, where he speaks, among other things, about fighting for freedom and how a more involved population by integrating society in decision making can be enabled through blockchain.

“I am excited to join the $Bobby team as an advisor,” said Kyle Kemper. “I believe that this token has the potential to drive community development, raise global awareness, create engaging memetic content, and make a significant impact through donations to causes in need. The vision behind $Bobby aligns perfectly with my own beliefs about the power of decentralization to effect positive change…and it’s fun!”

About $Bobby Politifi Meme Token

$Bobby Politifi Meme Token is a cryptocurrency designed to harness the power of community, memes, and blockchain technology to drive independence. Trading on Uniswap under the ticker symbol BOBBY, the token focuses on community development, global awareness, and impactful donations. Originally launched at ETH Denver as RFKJ, the token has been rebranded and relaunched at Consensus Texas 2024 to better align with its community and be more fun.

The $Bobby Token is more than just a cryptocurrency; it is a movement. By leveraging the power of memes and the blockchain, $Bobby aims to foster a vibrant community, amplify important causes, and provide substantial support through impactful donations. The token’s relaunch marks a new chapter in its journey, with Kyle Kemper’s advisory role set to enhance its strategic direction and outreach.

Media contact:
Plato Data Intelligence
PlatoAiStream.com
Zephyr@platodata.io