Coloured Ties Subsidiary Names CEO and Mobilizes Lithium Exploration Programs in James Bay

Vancouver, BC, Apr 22, 2023 – (ACN Newswire) – Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) ("Coloured Ties" or the "Company"), an investment company focused on business incubation and opportunities that disrupt their industry, is pleased to provide the following update:

APPOINTS MIKE STIER AS CEO OF QUEBEC PEGMATITE CORP.

Coloured Ties is pleased to announce that Mike Stier has been named to the position of Chief Executive Office and Director of Quebec Pegmatite Corp. ("QPC"), a wholly owned subsidiary of Coloured Ties.

Mr. Stier has spent the past 15 years focused on and building expertise in the capital markets. He is experienced in corporate structure, finance, business development, IPO's, M&A, and wealth management, Mr. Stier served as a CIBC IIROC licensed Senior Financial Advisor, senior analyst for a private equity company and more recently holds executive and directorship roles with private companies and publicly listed issuers. He has consulted in industries including mining, oil & gas, fintech, VR, eSports, health, life sciences and biotech. Mr. Stier acts for several other entities, including Independent Director of Rektron Group Inc., CEO & Director of New Leaf Ventures Inc. and is a Co-Founder and former CEO & Director of Optimi Health Corp.

QUEBEC PEGMATITE MOBILIZES ON EXPLROATION PROGRAMS

Quebec Pegmatite is pleased to announce that Longford Exploration has designed and is mobilizing on exploration programs for the company's Mazerac and Vieux Comptoir projects.

MAZERAC LITHIUM PROJECT:

– The Mazerac Project is project has 108 contiguous claims located around the Decelles Reservoir, about 50km southwest of Val-d'Or and easily accessible by a network of forestry roads This property is immediately adjacent to claims currently held by exploration companies including Winsome Resources, Brunswick Exploration and Vision Lithium and near infrastructure including (see regional map in Schedule1).
– This expanded area, known as Mazerac, has recently attracted many lithium prospecting and exploration companies due to recent discoveries of several lithium bearing pegmatites in the region.
– The consolidated rocks of the region are of Precambrian age. The oldest include weathered rocks of sedimentary origin and a few of volcanic origin which are considered part of the Pontiac group.
– The majority of the bedrock in the region is composed of granitic and syenitic rocks, which have been intruded and mixed with rocks of the Pontiac Group. Pegmatites and associated aplites have varying textures and reported to be abundant in the region (See Figures 3 and 4).
– The schist enclaves of the Pontiac group showing various degrees of assimilation, are locally abundant. Large clusters of pegmatite are essentially homogeneous, however, some of the smaller dykes and lenses are zoned. Diabase and gabbro dykes cut across all these rocks.
– Extensive Lidar coverage reveals the influence of tectonics on the topography of the region.
– The general northeast orientation of the topographic features of the eastern part of the region is controlled by the granite and pegmatite sills in the biotite schists. There are many north, north-east and north-west trending joints in all the rocks of the region.
– Earlier intermittent surveys conducted in the 1950s-60s reported on the presence of spodumene in the region. However, this was not of sufficient quantity to sustain systematic exploration at the time. Beryl crystals were also found associated with quartz segregations in pegmatites in several locations.
– The Property is believed to have a favourable geological setting for Li-Cs-Ta (LCT) Pegmatite style deposits, which have been noted in association with the DRB in the Lac Simard area to the west of the Property. There are no catalogued mineral showings on the Property and no previous exploration programs have been carried out on or in the immediate vicinity of the property.
– During the first week of November 2022, a total of 488 soil samples were collected over seven small grids on QPC's Mazerac 43-101 listing Property. The soil sampling grid areas were selected to provide coverage across multiple zones of the Property. Additionally, a total of twenty-four litho-geochemical grab samples were collected across the Property through prospecting in the immediate vicinity of the soil survey grids.
– Results were numerous single and multi-point lithium geochemical anomalies looking at subtle anomalism for Li, Ta, Rb, REE's and various geochemical ratios as indicators to prospectivity and pegmatite fertility in the seven zones explored.

VIEUX COMPTOIR LITHIUM PROJECT:

The Vieux Comptoir Lithium Property comprises a total of 381 Quebec mineral exploration claims, which amount to a total of 19,533.81 hectares or 195 square kilometers. Located in the centre of significant lithium discoveries by Patriot Battery Metals (V.PMET) and Winsome Resources (ASX:WR1).

The Vieux Comptoir Lithium Property has been optioned to Superior Mining International (V.SUI) and was successfully approved by the TSX-V. Pursuant to the terms of the option QPC will receive a total of 14 million shares of Superior Mining over an 18-month disbursement schedule. See news release dated April 11, 2023 for additional details on the option. With this approval Superior Mining will fund exploration on the Vieux Comptoir property going forward.

Located approximately 45 km east of Patriot Battery Metals Corvette Lithium Discovery where extensive drilling has encountered high grade lithium intersections including recently announced 83.7m of 3.13% Li2O, including 19.8m of 5.28% Li2O.

The Vieux Comptoir Lithium Property is also located 45km west of Winsome Resources' (ASX: WR1) Adina Lithium Project which discovered a large outcropping pegmatite dyke with significant lithium mineralised intercepts including 1.34% Li2O over 107.6m.

The Property encompasses lithium pegmatite prospective source rocks of the Vieux Comptoir Granitic Suite which have been identified on the Property. The Property sits along the volcanic belt and encompasses various intrusive suites including the lithium pegmatite prospective source rocks of the Vieux Comptoir Granitic Suite which have been mapped on the property. Regionally, the Vieux Comptoir Granitic Suite is known to host K-feldspar granite phases in pegmatite form which may host an abundance of spodumene.

Viuex Comptoir Lithium Property is underlain by the source rock (Vieux Comptoir suite) which would have injected pegmatite dykes into those greenstone rocks in the region. This geological interpretation strongly supports the prospectivity of the Project for further lithium discoveries.

"The Eeyou Istchee James Bay region is experiencing heightened staking activity based on its abundance of lithium-bearing pegmatites including four deposits with defined resources. Quebec Pegmatite acquired the projects in mid 2022, well before the staking rush of 2023. In addition, this region has recorded numerous recent discoveries including Corvette by Patriot Battery Metals just east of our projects underscoring the exploration potential of the area. The Mazerac Region has also seen increased staking activity and recent work by other companies active in the area suggests prospects for lithium discoveries in the area. We believe both properties have excellent potential for the discovery of lithium-bearing pegmatites," states Mike Stier, CEO of Quebec Pegmatite Corp.

MOBILIZING WORK PROGRAMS ON MAZERAC AND VIEUX COMPTOIR LITHIUM PROJECTS

QPC and Superior Mining are pleased to have engaged Longford Exploration to conduct a detailed exploration on the Mazerac and Vieux Comptoir Lithium Projects. (See project maps below)

https://images.newsfilecorp.com/files/8431/163360_3d991645a47c8a51_002full.jpg
https://images.newsfilecorp.com/files/8431/163360_3d991645a47c8a51_003full.jpg
https://images.newsfilecorp.com/files/8431/163360_3d991645a47c8a51_004full.jpg

Programs for Mazerac and Vieux Comptoir include:

– Phase 1
— Historical government assessment and data compilation
— Remote sensing
— Lithostructural interpretation
— Data interpretation and targeting

– Phase 2
— Mapping and prospecting field program (3 weeks)
— Phase 2 Lab Results
— Data Interpretation and Targeting
— Winkie Drill testing on identified pegmatites

Upon completion of the Phase 1 remote sensing, and lithostructursal interpretation the results of the interpretation, and subsequent Phase 2 field work will be incorporated to develop areas of interest for further field work utilizing ground-based IP geophysical techniques. A 2D/3D dipole IP survey will be recommended to resolve the host rock resistivity anomaly which is commonly found to be associated with pegmatite emplacement where coincidental magnetic anomalism, and remote sensing indicators are present.

QPC and Superior Mining are planning an aggressive field program during the 2023 work season in the James Bay and Mazerac regions and have established agreements to ensure availability of crews, accommodations and equipment for the upcoming season.

Finally, QPC is in advanced discussions to complete a reverse takeover transaction in the coming months. There are currently, 11 million shares outstanding, of which Coloured Ties owns 91% and will be a significant shareholder in the transaction capital structure. No transaction has been finalized and there is no guarantee a transaction will be completed.

About Coloured Ties Capital Inc

Coloured Ties Capital is a TSX-V listed issuer that invests in early-stage commercial ventures and provides investee companies with capital market access and advisory services. The Company offers investors an opportunity to participate in early-stage opportunities that are often only offered to high net worth or institutional investors via investment in the Company's common shares listed on the TSX Venture Exchange under symbol (TSXV: TIE). Coloured Ties Capital is a 2022 TSXV 50 Company.

About Quebec Pegmatite:

Quebec Pegmatite Inc is subsidiary of Coloured Ties and holds the Viexu Comptoir and Mazerac Lithium Projects located in the James Bay and Mazerac regions of Quebec. The company plans aggressive and extensive exploration programs for 2023 to explore the lithium potential for these properties.

For further information please contact:
Coloured Ties Capital Inc.
Kal Malhi Chief Executive Officer
kal@colouredtiescapital.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.

The forward-looking statements contained in this news release present the expectations of the Company as of the date hereof and, accordingly, is subject to change after such date. Readers are cautioned not to place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163360

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

Government Blockchain Association (GBA) Rates AXES.ai’s Casino Technology as a Trusted Blockchain Solution

LAS VEGAS, NV, Apr 21, 2023 – (ACN Newswire) – AXES.ai's (https://axes.ai/) land-based casino management platform became the first blockchain solution in history to be independently evaluated and rated by the Government Blockchain Association (GBA) in accordance with the Blockchain Maturity Model (BMM) (https://gbaglobal.org/blockchain-maturity-model/).

"Why would a casino management system need blockchain? Because according to the US Financial Action Task Force (FATF), casinos are high-risk areas for money laundering and terrorist financing," said Gerard Dache, GBA Executive Director. "Regulators world-wide need to have confidence that financial and compliance reports have not been falsified or altered. By writing data to a blockchain, regulators have confidence that the reports have not been altered."

"That is why AXES.ai created a cloud platform and solution for their customers. But it was not enough to just tell their customers that they were using blockchain. Unfortunately, there are many false claims about blockchain solutions. AXES.ai submitted their solution to the GBA to have it formally rated. After an extensive evaluation by a world-class team of experts, using GBA's globally accepted model, it was approved," concluded Mr. Dache

The GBA assessment framework, called the Blockchain Maturity Model (BMM), examines a blockchain solution from eleven separate perspectives that are required for a blockchain solution to be trusted. The BMM is a technology-agnostic model utilizing an assessment methodology, training assets, and a suite of tools to improve solutions, ensuring that those solutions can be trusted. It provides confidence to investors, customers, and acquisition officials that the assessed blockchain solutions are unimpeachable.

Organizations become Trusted Blockchain Solutions thru the BMM.

For more information visit https://gbaglobal.org/blockchain-maturity-model or attend GBA's Future of Money Governance of Law conference on May 24-25 in Washington DC. Details are at https://gbaglobal.org/FOMGL

About the Government Blockchain Association (GBA)

The GBA is a global, non-profit business community with public-sector members in over 500 government offices worldwide (https://gbaglobal.org/about/about-gov-members/), and private-sector professionals in over 50 working groups (https://gbaglobal.org/working-groups/). Public/private sector members work together to use blockchain and related technologies to solve public sector challenges. For more information about the GBA visit www.GBAglobal.org.

Press Contact:
Bob Miko
bmiko@pacificdialogue.com

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

Inaugural PowerUP Asia Conference Highlights Latest Innovations in Asia’s Power Electronics Industry

TAIPEI, TW, Apr 21, 2023 – (ACN Newswire) – The growing electric vehicle (EV) industry, increasing calls for renewable energy adoption, the automation trends in the industrial sector, and the rising demand for consumer electronics, are fueling the growth of the power electronics industry as manufacturers set their sights on power efficiency, carbon reduction, and ‘greener’ energy.

According to research firm Global Market Insights (GMI), the worldwide power electronics market reached over $22 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% to reach more than $40 billion in 2032.

The Asia Pacific (APAC) region accounted for more than half of the power electronics market, recording a total market share of 55% in 2022, according to GMI, mainly driven by the increasing penetration of EVs. On top of this, the expansion of the IT sector, the growing number of Internet users, and the continuous development and rollout of 5G networks are propelling the demand for data centers in the region, which in turn is driving the demand for more power-efficient devices with higher power densities and more and more compact packages. All these are expected to transform the APAC region into a major hub for power electronics manufacturing.

To put the spotlight on the key players and the latest technologies and trends in the power electronics industry in Asia, AspenCore, the publisher of EETimes Asia, EETimes India, and EDN Asia, will hold the inaugural PowerUP Asia conference and virtual exhibition on May 24-26, 2023.

PowerUP Asia builds on the success of the established PowerUP Expo, a virtual conference and exhibition being held by Power Electronics News, a sister publication under AspenCore.

Focusing on this region, PowerUP Asia is a three-day virtual conference and exhibition highlighting the latest technology developments and trends in power electronics, including wide-bandgap (WBG) devices, power semiconductors, and related technologies.

With fairgrounds, an exhibition hall, and a conference space, PowerUP Asia functions similarly to a live exhibition and conference. This technical conference will include keynotes, panel discussions, and technical presentations on significant technical trends, market demands and new application areas. Along with the conference, there will be an exhibition hall with virtual booths from top power electronics businesses and a live chat that will allow attendees to communicate directly with booth staff.

Confirmed companies presenting at the virtual conference include Analog Devices Inc., Arrow Electronics Inc., Advanced Semiconductor Engineering Inc. (ASE Group), Cambridge GaN Devices, Efficient Power Conversion Corp. (EPC), GaN Systems Inc., Infineon Technologies AG, NXP Semiconductors STMicroelectronics, and UTAC Group.

For more information and to register, visit https://ve.eetasia.com/EAC2022.

About AspenCore

AspenCore is a unique collection of brands and products that have set the standard in meeting the demands of today’s engineers.

We reach over 15 million technologists, designers, engineers, and managers. We connect this electronics community to reliable news, authoritative analysis, industry trends, and daily information on new technology.

Our brands include EE Times, Electronic Products, EPSNews, ESM China, IoT Times, Power Electronics News, EDN, EEWeb, Electro Schematics, Elektroda.pl, Embedded.com, Planet Analog, and more.

For more information, visit https://aspencore.com.

Contact Person:
Celia Shih
Marketing Manager
Taiwan/ASEAN Marketing and Circulation Department
T: +886 227591366 Ext. 103/222
E: celia.shih@aspencore.com

CITIC TELECOM CPC is the First to be Recognized as VMware Sovereign Cloud Partner in Hong Kong

HONG KONG, Apr 21, 2023 – (ACN Newswire) – As multi-cloud deployment has gone mainstream, thanks to rapid enterprise digital transformation, Sovereign Cloud has become a key solution in achieving data compliance when businesses deploy multiple clouds. CITIC Telecom International CPC Limited (CITIC Telecom CPC), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883) today announced it is the first company in Hong Kong to become a VMware Sovereign Cloud provider, so enterprises in Hong Kong and MNC customers can embrace the benefits of high-quality cloud computing services and applications, helping different industries to deploy multi-cloud services comply with local laws and regulations while enabling data compliance and reliability.

From left to right: Representatives from CITIC Telecom CPC, Danny Tang (Senior Manager, Cloud Ser-vices), Jacky Kwok (Chief Commercial Officer) & Taylor Lam (Chief Strategy Officer); together with representatives from VMware, Sylvain Cazard (Senior Vice President and General Manager, Asia Pacific Japan), Barry Chen (Vice President and General Manager of Greater China) & Franco Lan (General Manager, VMware Hong Kong & Macau)

Growing adoption of multi-cloud strategy boosts the demand for sovereign cloud services

New research(1) conducted by Vanson Bourne and commissioned by VMware reveals that over the next two years, 96% of all companies surveyed believe data will be a source of revenue, and 50% believe it will be a significant revenue source. Given the prevailing economic headwinds, it is not surprising that more business leaders are zeroing in on their data as an untapped source of revenue. Yet the downside is just as big: respondents identified data sovereignty as one of the key challenges facing organizations with 95% admitting it is a concern. Organizations that fail to comply with data-sovereignty regulations often have to pay fines up to hundreds of millions of dollars and suffer damage to brand reputation because of data compromise.

Enterprises in Hong Kong and the rest of the world are undergoing rapid digitalisation across all sectors, and together with the rising demand for cross-border data security, there is a growing need for a robust cloud framework that supports multi-cloud development and meets regulatory requirements. CITIC Telecom CPC's collaboration with VMware enables mutual customers to benefit from a Sovereign Cloud Service based on VMware Cloud, the industry's unique multi-cloud infrastructure as a service (IaaS) and enjoy the benefits of data sovereignty and data economy with lower risk.

"The increased demand for sovereign cloud and its importance is widely recognized," said Mr. Taylor Lam, Chief Strategy Officer of CITIC Telecom CPC. "We are thrilled to work with a trusted international cloud technology leader and proud to become the first VMware Sovereign Cloud provider in Hong Kong. With our expanded VMware relationship, we can provide our customers with the best cloud solutions available that are not only more secure, compliant, and reliable, but also specifically tailored to meet the specific requirements of Hong Kong for data sovereignty and data mobility. This will enable our customers to modernize their apps, infrastructure and operations more cost-effectively, and with reduced risk."

"There is no data sovereignty without cloud sovereignty. And sovereignty does not have to come at the expense of cloud innovation," said Franco Lan, General Manager at VMware Hong Kong & Macau. "VMware Sovereign Cloud providers such as CITIC Telecom CPC can help customers innovate and drive digital transformation while reducing the risk of unlocking the value of data."

Creating New Value with VMware Sovereign Cloud

As the leading Global-Local DICT service provider, CITIC Telecom CPC leverages its global resources and extensive industry experience to provide comprehensive ICT solutions and a suite of SmartCloud(TM) cloud computing services. As a long-term partner of VMware, CITIC Telecom CPC has already obtained multiple partner certifications from VMware, and has become the first VMware-verified Sovereign Cloud partner in Hong Kong, it enables mutual customers to benefit from Sovereign Cloud service based on VMware Cloud. CITIC Telecom CPC is well-positioned in deploying effective multi-cloud connectivity, safeguarding sovereignty control and risk management, and ensuring compliance with local regulations and data sovereignty requirements. It empowers enterprises to maintain data access and sovereign control while meeting high-level data privacy and residency requirements, as well as security and operational compliance requirements in the cloud environments. CITIC Telecom CPC is committed to assisting enterprises in deploying effective solutions for secure operation, reducing risks and creating new value to grow revenue through the digital economy and ultimately achieving long-term high-quality development.

About CITIC Telecom CPC
We are CITIC Telecom International CPC Limited ("CITIC Telecom CPC"), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883), serving multinational enterprises the world over by addressing their specific ICT requirements with highly scalable tailored solutions built upon our flagship technology suites, comprising TrueCONNECT(TM) private network solutions, TrustCSI(TM) information security solutions, DataHOUSE(TM) cloud data center solutions, and SmartCLOUD(TM) cloud computing solutions.

With the motto "Innovation Never Stops," we leverage innovative technologies, embracing AI, AR, Big Data, IoT, and other cutting-edge emerging technologies to transform technical potential into business value for our customers. As an enterprise digital transformation partner, we strive to help our customers achieve industry-leading positions, high agility, and cost-efficiency through digitalization.

With our Global-Local capabilities, we are committed to providing our customers with one-stop-shop ICT solutions with superior quality. Having a worldwide footprint across nearly 160 countries, including Asia, Europe and America, Africa, the Middle East, and Central Asia, our global network resources connect over 160 points of presence (POPs), 60 SDWAN gateways, 21 Cloud service centers, 30+ data centers, and three dedicated 24×7 Security Operations Centers (SOCs). We are certified with a series of international certifications, including SD-WAN Ready, ISO 9001, 14001, 20000, 27001, and 27017, to ensure our services comply with international standards and resources for enterprises. We offer local professional services, superior delivery capabilities as well as exceptional customer experience and best practices through our global presence and extensive industry know-how, becoming a leading integrated intelligent ICT service provider to enterprise customers.
For more information, please visit www.citictel-cpc.com

About VMware
VMware is a leading provider of multi-cloud services for all apps, enabling digital innovation with enterprise control. As a trusted foundation to accelerate innovation, VMware software gives businesses the flexibility and choice they need to build the future. Headquartered in Palo Alto, California, VMware is committed to building a better future through the company's 2030 Agenda. For more information, please visit www.vmware.com/company.

(1) "Multi-Cloud Maturity Research Report," Vanson Bourne, October 2022
https://news.vmware.com/media-library/multicloud-maturity-index-report

Media Contact:

Catherine Yuen
CITIC Telecom CPC
(852) 2170 7536
Email: catherine.yuen@citictel-cpc.com

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

Strong Rebound in Tourism Demand, Core Business Grows Across the Board, Fosun Tourism’s Tourism Operations Business Volume Surged Nearly 40% in Q1 2023

HONG KONG, Apr 21, 2023 – (ACN Newswire) – Fosun Tourism Group ("Fosun Tourism" or the "Group", HKSE Stock Code: 01992), a world-leading leisure-focused integrated tourism group, is pleased to announce its operational performance for the three months ended 31 March 2023 ("the first quarter of 2023")(1) . Benefiting from the overall growth of its core business, the Group's unaudited profit attributable to shareholders of the parent company multipled by several times in the first quarter of 2023.

For the first quarter of 2023, the business volume(2) of the Group's resort, Atlantis Sanya, operation of vacation asset management center(3) and other tourism and leisure services increased by approximately 37.2% to approximately RMB5,888.9 million on a constant exchange rate basis, from approximately RMB4,292.4 million in the same period of 2022.

Benefiting from the overall relaxation of travel restrictions worldwide and the effective implementation of the Group's strategy, Club Med's business volume, on a constant exchange rate basis, for the first quarter of 2023 was RMB5,004.2 million, representing an increase of approximately 44.2% and 21.8% as compared with the same period in 2022 and 2019, respectively. In the first quarter of 2023, Club Med recorded a significant improvement in its unaudited net profit for the first quarter of 2023 compared with the same period in 2022 and 2019, largely attributable to continuous business growth in the EMEA and Americas markets and a strong recovery in the Asia Pacific region.

In the first quarter of 2023, Club Med's capacity increased by approximately 19.7% compared with the same period of 2022 and recovered to approximately 99.4% of the level recorded in the same period of 2019. The global average occupancy rate reached 68.9%, an increase of approximately 6.8 percentage points compared with the same period of 2022, and just 1.5 percentage points lower than the same period of 2019. The average daily bed rate was approximately RMB1,941.6, representing an increase of approximately 9.3% and 30.6% as compared with that of the same period in 2022 and 2019, respectively.

Due to the gradual lifting of travel restrictions in various countries, the Group's global business has grown rapidly. As at 8 April 2023, the cumulative bookings for Club Med for the six months ending 30 June 2023 ("the first half of 2023"), expressed in terms of Stay, Tours and Services business volume ("BV STS") at a constant exchange rate basis, increased by approximately 34.2% compared with the first half of 2022 as at 8 April 2022, and even increased by approximately 24.9% compared with the first half of 2019 as at 8 April 2019. In addition, as at 8 April 2023, the cumulative bookings for the six months ending 31 December 2023 ("the second half of 2023"), expressed in terms of BV STS at a constant exchange rate basis, increased by approximately 13.8% compared with the second half of 2022 as at 8 April 2022, and climbed by approximately 16.2% compared with the second half of 2019 as at 8 April 2019.

Earlier this month, Henri Giscard d'Estaing, Vice Chairman and Co-Chief Executive Officer of Fosun Tourism Group and Chief Executive Officer of Club Med, participated as a representative of French entrepreneurs in a delegation of more than 60 senior executives of major French companies led by French President Emmanuel Macron to China. He said that French companies are eager to work with China, which boasts great prospects as the second-largest market for Club Med worldwide. The Group will continue to innovate and is committed to providing the best services and experiences to Chinese families and enterprises alike. The Group is aiming to open 17 new resorts and spaces by 2025, seven of which will be located in China. The Group's first city resort is also expected to open in Nanjing later this year.

Benefiting from the strong demand released following the resumption of domestic tourism in China, Atlantis Sanya's business volume reached RMB526.6 million during the first quarter of 2023, an increase of approximately 38.7% against the same period of 2022. The Group participated in the China International Consumer Products Expo (CICPE) held in Haikou, Hainan Province between 10 and 15 April with its Club Med and Atlantis Sanya projects. This was the third consecutive year that the Group took part in the CICPE, demonstrating its strong confidence in its own business and the recovery of China's consumer market.

In the first quarter of 2023, Atlantis Sanya recorded approximately 1.8 million visits, a year-on-year increase of approximately 61.9%. The average daily room rate reached approximately RMB2,570.8, a decrease of 9.9% compared with the last corresponding period, mainly due to an increase in the proportion of the Meetings, Incentives, Conferencing & Exhibitions business. The average occupancy rate was approximately 94.2%, representing an increase of 31.6 percentage points compared with the same period in 2022. This year marks the fifth anniversary of Atlantis Sanya. It will focus on its two core strategies: "A family entertainment hub and a destination offering a wide range of international cuisine" and will continue to promote the iteration and updating of its different products. The "Pink Night Celebration for the 5th Anniversary of Atlantis", to be held on 28 April, will feature a series of brand events, including the "5th Anniversary Super Shopping Festival", to confidently and enthusiastically welcome tourists back to Hainan.

Similarly, Lijiang Club Med Resort recorded an operating business volume of RMB20.9 million in the first quarter of 2023, an increase of approximately 130.4% compared with the same period in 2022. In the first quarter of 2023, the number of visitors to Lijiang Club Med Resort was approximately 40,000, an increase of 337.7% compared with the same period in 2022.

The first Labor Day holiday after the pandemic will begin soon. According to data released by FlightAI, the search index for domestic travel is slightly higher this year than in 2019, while flight bookings exceeded those of the same period in previous years, indicating that the momentum of post-pandemic "revenge" travel continues. Moreover, the popularity of flight ticket searches for outbound trips during the Labor Day holiday this year was 30% higher than that of 2019. Currently, the booking figures for the Labor Day holiday shown by different businesses under Fosun Tourism are relatively encouraging and the Group is well prepared for the holiday. The Group is confident that it will provide high-quality services to visitors in the upcoming travel peak period.

Mr. Xu Xiaoliang, Co-CEO of Fosun International and Chairman of Fosun Tourism, said, "Travel demand has grown rapidly since the beginning of this year and a strong rebound is expected in the second quarter of this year. Meanwhile, the post-pandemic era has created important opportunities for urban vacations. In the future, Fosun Tourism will continue to adhere to the latest strategies devised by the Group to strengthen its global layout, and explore more resort and hotel opportunities in China to seize first-mover advantages in the 'vacation era'."

About Fosun Tourism Group (Stock Code: 01992.HK)
Fosun Tourism Group (also known as Fosun Tourism or "FOSUN HOLIDAY", Stock Code: 01992. HK), is one of the world's leading leisure-focused integrated travel groups. lt is a major part of Fosun's "Happiness Ecosystem", one of its four strategic business units – Health, Happiness, Wealth and Intelligent Manufacturing. Through its mission of "Vacation brings a better life", it strives to lead the leisure lifestyle and create a world's leading leisure tourism ecosystem for families.

The Group's brands and products include world-leading providers of premium "all- inclusive" resorts. such as Club Med, which operates more than 60 resorts worldwide, Sanya Atlantis, a one-stop ocean-themed high-end tourism complex, Taicang Alps Resort and Lijiang Club Med Resort, two one-stop international leisure vacation destinations and etc.

* Frost & Sullivan, an independent international research & consulting firm

(1) Figures herein were unaudited.
(2) Business volume represents total sales of resort, Atlantis Sanya, operation of vacation asset management center and other tourism and leisure services, whether or not the resort is owned, leased or managed.
(3) Vacation asset management center represents Taicang and Lijiang projects.

Media Enquiries:
Strategic Financial Relations Limited
Veron Ng Tel: +852 2864 4831
Phoenix Fung Tel: +852 2114 4939
June Tuo Tel: +852 2864 4848
Email: SPRG_FTG@sprg.com.hk

Fosun Tourism Group
Sophia Zhuang Tel: +86 (21)23150043
Email: zhuangbr@fosunholiday.com

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

Is Malaysia the new Datacentre & Cloud capital of ASEAN?

Singapore, Apr 21, 2023 – (ACN Newswire) – Dexterity with technology, is transporting the Malaysians to reach new heights with their digital transformation initiatives. So much so that the country is accelerating to push 5G to 80% of the populated areas by 2024. It's also forecasted that the country's ICT sector will reach $25.2 billion in 2023.

With these massive developments, Malaysia has acknowledged the paramount importance of its datacentre & cloud ecosystem to support & fuel the growth of its digital economy which is estimated to touch $34 billion in Gross Merchandise Value by 2025.

In the process of aiding organisations in making the most of their data and upgrading performance across increasingly complex hybrid cloud environments, Hitachi Vantara has taken the initiative to showcase their thought leadership in the subject as their Content Solution Chief Architect from Asia Pacific, Dominic Wong will be taking a crucial session at the country's premier datacentre & cloud event, DCCI (Datacentre & Cloud Infrastructure Summit) going live at

The Majestic Hotel Kuala Lumpur, Autograph Collection on 16 – 17 May. Joe Ong, Vice President and General Manager, ASEAN, Hitachi Vantara expressed, "With the advent of cloud services, IT is transforming and evolving from being traditionally data center-centric to data-centric. The data center is no longer a physical location. Hitachi Vantara realizes that the path to a true multi-cloud environment and strategy begins by building Hitachi Content Platform (HCP) – a highly available, performant, and scalable cloud platform. HCP is uniquely suited to addressing the biggest data challenges with faster, more secure and more accurate insights for our customers in the growing Malaysia market."

Over the years, Malaysia has emerged as one of the top three colocation markets in ASEAN, powered by the surging demand from hyperscalers and cloud service providers. Not to forget, the favorable national policies are further fueling the digital growth.

As a result, country's datacentre market is forecasted to grow at CAGR of approximately 7% during 2022-2027 to reach over $2 billion by 2027. Malaysia Digital Economy Corporation (MDEC) has been at the forefront of accelerating digital transitions in the country, while championing numerous initiatives that encourage the same. And it's quite natural to see that DCCI Malaysia is one among them, as the platform has always strived to bring the public & private sectors together to foster a next-gen data & cloud environment for Malaysia.

MDEC's Chief Executive Officer, Mahadhir Aziz, shared his organisation's vision in encouraging new developments in the datacentre and cloud ecosystem, he expressed, "We are dedicated to bolster Malaysia's status as the digital hub of ASEAN, and we believe that a world-class datacentre and cloud ecosystem is vital to achieve this goal. At MDEC, our vision is to foster an innovative, efficient, and secure digital infrastructure that can support businesses and consumers alike. We are working closely with the public and private sectors to encourage investments, collaborations, and knowledge-sharing to continuously advance our Malaysia Digital (MD) national strategic initiative. Effective private-public collaborations will be key in forging a dynamic digital ecosystem that powers Malaysia's economic growth and prosperity for generations to come."

The global digital infrastructure company, Equinix has announced its market entry into Malaysia to build its new International Business ExchangeTM data centre in Johor, called JH1, that's scheduled to begin operations in Q1 2024.

Jeremy Deutsch, President, Asia-Pacific, Equinix shared, "We are glad to be part of DCCI Malaysia again this year. Malaysia is a strategic market for Equinix and through our expansion into Malaysia, we are excited to bring our global platform and ecosystems of 10,000 companies across cloud, network, IT companies and enterprises to support the country's digital economy. We look forward to supporting Malaysian companies and multinationals doing business in Malaysia on their digital transformation journey to accelerate their business growth and unlock technology innovations."

Equinix's expansion in Malaysia is in line with the Government's MyDIGITAL initiative and its robust cloud ecosystem also addresses the rising demands of cloud services.

It's no surprise that just last year, the public sector even launched its very own cloud computing service known as MyGovCloud and it's estimated that the country's overall cloud computing market will be worth $3.7 billion by 2024.

For more information on the upcoming DCCI 2023 – Malaysia, visit malaysia.dccisummit.com or reach out to aritrikac@tradepassglobal.com.

About Tradepass

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

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

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

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

HKTDC unveils seven creative lifestyle, licensing events

HONG KONG, Apr 20, 2023 – (ACN Newswire) – The creative industry is a powerhouse of economic growth. The Hong Kong Trade Development Council (HKTDC) unveiled seven creative events covering fashion, lifestyle and licensing at the Hong Kong Convention and Exhibition Centre (HKCEC). The events are the Hong Kong Gifts & Premium Fair; Home InStyle; the Hong Kong International Home Textiles and Furnishings Fair; Fashion InStyle and the Hong Kong International Printing and Packaging Fair, as well as the Hong Kong International Licensing Show and Asian Licensing Conference. As international business travel and commercial activities return to normal, these seven events have attracted more than 4,100 exhibitors from 23 countries and regions, covering gifts, home products, home textiles, fashion, printing and packaging solutions, licensing projects and more, while the Asian Licensing Conference has invited about 30 global industrial giants and insiders to share insights.

During the media tour, HKTDC Deputy Executive Director Sophia Chong (R) said HKTDC exhibitions are
renowned for their international flavour, scale and comprehensive support facilities.

The HKTDC unveiled a series of exhibitions including: the Hong Kong Gifts & Premium Fair; Home
InStyle; the Hong Kong International Home Textiles and Furnishing Fair; Fashion InStyle; the Hong
Kong International Printing & Packaging Fair; as well as the Hong Kong International Licensing Show;
and the Asian Licensing Conference.

Hong Kong International Licensing Show drew attention to over 500 brands and licensing projects,
highlighting a diverse range of projects.

During a media tour, HKTDC Deputy Executive Director Sophia Chong said: "HKTDC has always been committed to promoting Hong Kong creative and design industry to the world through exhibitions, conferences and other activities. This year, we are bringing together seven major events covering fashion, lifestyle and licensing in April under one roof for the first time, providing a unique platform to cultivate new possibilities for licensing business through accommodating more non-character IPs; broadening the IP portfolio to include art, culture and digital brands that are used in licensed gifts. We believe this will create greater synergies and will open up more business opportunities across industries and disciplines.

"As one of the world's most recognised cities for meetings, exhibitions, incentive and business travel, Hong Kong attracts high-quality exhibitors and buyers from around the globe. HKTDC exhibitions are known for their internationalisation, scale and comprehensive support facilities. This year, the exhibitions featured about 70% non-local exhibitors and welcomed numerous provincial and municipal delegations from Mainland China – a testament to the return of international businessmen to Hong Kong," she added.

The events have recruited more than 200 buying missions from 50 countries and regions, including buyers from the mainland, Japan, Korea, Association of Southeast Asian countries, India, the Middle East, Germany, France and the United States to source in Hong Kong. The EXHIBITION+ hybrid model extends business discussion beyond the physical shows until 29 April via the smart business matching platform Click2Match.

Designer brands showcase creative works in Cultural and Creative Corner

The exhibitions feature a diverse array of fashion and lifestyle products, with many institutions and companies joining for the first time. The Gifts Fair, Home InStyle and Home Textiles Fair feature over 2,800 exhibitors from 21 countries and regions. As the cultural and creative industries flourish, the Cultural and Creative Corner zone debuts at the Gifts Fair and Home InStyle to showcase designer brands and products with cultural characteristics, unique and tasteful designs. A mainland pavilion also debuts, bringing exclusive Chinese traditional handicrafts such as bamboo carvings, ceramics and paper-cutting lamps, showcasing the preservation and succession of intangible cultural heritage. At Home InStyle, the Zhejiang Pavilion features handcrafted home-decor products from different provincial cities under the Zhejiang Ingenuity: Culture and Quality theme. The Yuecheng District of Zhejiang Province is also participating in the Home Textiles Fair for the first time, showcasing high-quality bedding products.

Fashion InStyle has attracted about 500 exhibitors, including a debut Jiangxi Province pavilion where 25 exhibitors showcase fashion and accessories. The Hong Kong International Printing & Packaging Fair also attracted 460 exhibitors with a new comer from Hungary. The international presences signal the strong revival of international business confidence in Hong Kong.

Promoting transformation of local creative force

The Hong Kong Houseware Fair has been renamed Home InStyle with the expectation of bringing more design and style-oriented products to buyers. The Hong Kong Industrial Designers Association (IDSHK) will join Home InStyle for the first time. The association's ReMIX brands and designers matching programme created design products in collaboration with local traditional brands such as Camel's vacuum flasks and Red Apple's home furniture, illustrating the power of design in brand rejuvenation. Other newcomers include local brand Inwork Synergy International Limited, which specialises in handcrafted wooden tableware, and Derangedesign Co. Limited, which won the A'Design Award for its iconic irregular stainless steel sculpture containers. Furthermore, the Hong Kong Exporters' Association highlights Hong Kong Smart Design Award winning pieces at the Gifts Fair to promote local design talents.

The HKTDC has been a staunch advocate for the development of local creative culture and protection of intellectual property. With the support of CreateHK, the DLAB Hong Kong Pavilion returned to the Licensing Show this year, gathering 45 locally produced, original intellectual properties – including SHIBAINC, Falling Cyan, Malut Design and 8EGGS Studio – displaying the products of Hong Kong creative minds.

Technology leads to sustainable future

Highlighted Fashion InStyle's zone InnoFashion and Trade Services focuses on fashion technology and trade services and showcases a variety of innovative fashion technologies, including the AiDLab of the Hong Kong Polytechnic University, which brings in world's first designer-led AI system (AiDA) that facilitates designer's inspiration and speeds up the whole ideation and design development process, improving the sustainability of the production chain. Headquartered in Israel, Hong Kong exhibitor Stratasys has developed a 3D printer that can print three-dimensional textile materials entirely with computers.

Demand for environment-friendly products continues to rise in global markets. About a quarter of the Printing & Packaging Fair exhibitors provide green printing and packaging products and services. Sustainability and safety certified products are also available in the Home Textiles Fair, including products made of organic and recycled materials with international certifications such as GRS, BSCI and OEKO-100.

Engaging dialogues on trending topics including ChatGPT and ESG

The AiDLab Summit debuted at Fashion InStyle. Academic experts such as Professor Sharon Baurley, Director and Professor of Design & Materials at the Materials Science Research Centre of the Royal College of Art and Professor Calvin Wong, Cheng Yik Hung Professor in Fashion at the School of Fashion and Textiles at Hong Kong Polytechnic University, and Centre Director of AiDLab discussed artificial intelligence (AI) application in fashion design. The Feel the Pulse of the Upcoming Trend in 2023 seminar invited Euromonitor International Hong Kong Research Manager Herbert Yum and Ivan So, digital consultant at HDcourse, to share insights on global consumer trends as well as ChatGPT and its impact on business-to-business marketing implications.

Licensing Show displays over 500 brands and projects, signalling a thriving industry

Hong Kong is a bustling hub for licensors, licensees, agents and manufacturers and is the preferred partner for foreign licensors. This year's Hong Kong International Licensing Show showcased over 500 diverse licensing projects and brands; exhibitors include top global licensors and licensing agents such as CAA-GBG Global Brands Management Group, Medialink Group and WildBrain CPLG. The exhibition features nine large pavilions, the largest being the Mainland China Pavilion, along with those from Macao, Indonesia, Japan, Korea, Malaysia, Thailand and Taiwan, where exhibitors bring unique brands to Hong Kong.

At the concurrent Asian Licensing Conference, the first session featured Ben Peace, Vice President for the Asia Pacific at WildBrain CPLG (the agency for PEANUTS, Sonic Prime, and the Teletubbies); Maura Regan, President of Licensing International; and Miki Yamamoto, Senior Vice President, Licensing in Asia at IMG, who discussed global licensing developments, post-pandemic shifts in consumer behaviour and key factors reshaping the licensing landscape.

Websites
– Hong Kong Gifts & Premium Fair: www.hktdc.com/event/hkgiftspremiumfair
– Home InStyle: www.hktdc.com/event/homeinstyle
– Hong Kong International Home Textiles and Furnishings Fair: www.hktdc.com/event/hkhometextilesfair
– Fashion InStyle: www.hktdc.com/event/fashioninstyle
– Hong Kong International Printing & Packaging Fair: www.hktdc.com/event/hkprintpackfair
– Hong Kong International Licensing Show: https://www.hktdc.com/event/hklicensingshow/en
– Asian Licensing Conference: https://www.hktdc.com/event/hklicensingshow/en/programme?category=all&date=all
– HKTDC Media Room: https://mediaroom.hktdc.com/en
– Photo download: https://bit.ly/41FUoy9

About HKTDC

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

Media enquiries
Please contact the HKTDC's Communications and Public Affairs Department:
Snowy Chan, Tel: +852 2584 4525, Email: snowy.sn.chan@hktdc.org

Hong Kong International Licensing Show and Asian Licensing Conference
Kate Chan, Tel: +852 2584 4239, Email: kate.hy.chan@hktdc.org
Frankie Leung, Tel: +852 2584 4298, Email: frankie.cy.leung@hktdc.org

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

The Prestigious U.S. Open Polo Championship Returns to the USPA National Polo Center, Sunday, April 23

WELLINGTON, FL, Apr 20, 2023 – (ACN Newswire) – U.S. Polo Assn. and the United States Polo Association (USPA) are proud to host the U.S. Open Polo Championship(R) on Sunday, April 23, at the number one destination for polo in the United States, the USPA National Polo Center (NPC) – Wellington. While celebrating the heritage and tradition of the sport of polo, the U.S. Open Polo Championship is notably recognized as the most coveted trophy in the United States.

Top Players Facundo Pieres and Juan Britos in the Gold Cup Semi-Finals. (Credit: Alex Pacheco)

The 2023 Winter Polo Season at NPC has had record attendance, with a waitlist for this year's U.S. Open Polo Championship game. For those who can't attend in person, ESPN will air the Championship final for millions of sports fans on ESPN platforms on April 24 at 9:30pm EDT. Check your local listings or click here for local air times and channels.

In the action-packed U.S. Open Polo Championship Final game, the two teams who prevail in their respective games in the semi-finals will then go head to head to ultimately take home the coveted trophy and $100,000. The U.S. Open Polo Championship features the sport's finest players from around the world, alongside their equine athletes. Globally renowned players on this day could include the number one player in the world, Adolfo Cambiaso as well as 10-goalers Facundo Pieres and Hilario Ulloa.

"The close of a record-breaking season for the sport of polo in the United States is the U.S. Open Polo Championship, which continues to be the sport's highlight for players and fans alike," said Stewart Armstrong, Chairman of the USPA. "It's always exciting to see the top two teams compete for the trophy in the Open and leave it all on the field, this year, with millions of fans watching on site in Palm Beach County and now on ESPN."

The Winter High Goal Polo Season at NPC has offered sports fans an elevated season which included the Westchester Cup, the oldest rivalry in polo, along with the broadcast of multiple iconic polo tournaments on ESPN platforms, and a special guest appearance by award-winning pop artist @Maluma – all from the Winter Equestrian Capital of the World. This year, fans have been able to purchase custom, branded U.S. Open and Westchester Cup merchandise on site and on uspapro.com.

"U.S. Polo Assn. is proud to partner with the USPA in hosting the most prestigious tournaments, here at NPC, the sport's premier destination," said J. Michael Prince, President and CEO of USPA Global Licensing Inc., which manages the multi-billion-dollar U.S. Polo Assn. brand. "Our iconic partnership with ESPN, the world's leading sport content provider, has brought the sport into millions of households for the very first time. This relationship has been vital to increasing exposure to the sport for the USPA and to demonstrating the authenticity between the U.S. Polo Assn. brand and the sport of polo for consumers around the world."

"Together with the USPA, The Palm Beaches and our amazing local, national and global sponsors and partners, we look forward to celebrating the U.S. Open Polo Championship winner on Sunday, April 23, and a highly successful 2023 Season," added Prince.

About U.S. Polo Assn.

U.S. Polo Assn. is the official brand of the United States Polo Association (USPA), the non-profit governing body for the sport of polo in the United States and one of the oldest sports governing bodies, having been founded in 1890. With a multi-billion-dollar global footprint and worldwide distribution through some 1,100 U.S. Polo Assn. retail stores and thousands of department stores as well as sporting goods channels, independent retailers and e-commerce, U.S. Polo Assn. offers apparel for men, women, and children, as well as accessories and footwear in more than 190 countries worldwide. U.S. Polo Assn. was named as one of the top five sports licensors in 2022, according to License Global. Visit uspoloassnglobal.com and follow @uspoloassn.

USPA Global Licensing Inc. (USPAGL) is the for-profit subsidiary of the USPA and its exclusive worldwide licensor. USPAGL manages the global, multi-billion-dollar U.S. Polo Assn. brand and is the steward of the USPA's intellectual properties, providing the sport with a long-term source of revenue. Through its subsidiary, Global Polo Entertainment (GPE), USPAGL also manages Global Polo TV, which provides polo, sport and lifestyle content. A historic, multi-year, global arrangement has been signed by USPAGL and ESPN for the world's leading sports content provider to air seven of the top final polo games in the U.S., allowing millions of sports fans and consumers to enjoy the sport across ESPN's broadcast and streaming platforms. For more sport content, visit globalpolo.com.

About the United States Polo Association(R) (USPA)

The United States Polo Association was organized and exists for the purposes of promoting the game of polo, coordinating the activities of its Member Clubs and Registered Players, arranging and supervising polo tournaments, competitions and games, and providing rules, handicaps, and conditions for those tournaments, competitions, and games including the safety and welfare of participants and mounts. Founded in 1890, the USPA is the national governing body for the sport of polo. The USPA is currently comprised of almost 200 member clubs with thousands of individual members and oversees 40 national tournaments. For more information, please visit uspolo.org.

Contact Information
Stacey Kovalsky
Senior Director, Global Communications
skovalsky@uspagl.com
+001.561.790.8036

Shannon Stilson
VP, Sports Marketing & Media
sstilson@uspagl.com
+001.561.227.6994

SOURCE: U.S. Polo Assn. Global

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

Lufax Holding lists on the Hong Kong Stock Exchange: Improving Industry Demand and Focusing on Small and Micro Business (“SMBs”) Financing

HONG KONG, Apr 20, 2023 – (ACN Newswire) – Recently, Lufax Holding Limited ("Lufax Holding" or the "Company", 06623.HK) lists by way of introduction on the Hong Kong Stock Exchange, realizing dual primary listing on HKEX and the NYSE.

Lufax Holding now mainly provides small business owners ("SBOs") and other highquality borrowers with tailored financing products. As of end of 2022, the total outstanding balance of enabled loans of the Company amounted to RMB576.5 billion (RMB, same as below), serving more than 6.6 million SBOs in China.

Cutting-edge technology helps solve industry pain points

SMBs are an important foundation for China's economic and social development, contributing over 60% of China's GDP and over 80% of its job creation. Traditional financial institutions encounter significant challenges in risk assessment of SMBs due to small scale and high turnover, making it difficult for SMBs to obtain the amount of financing required for their business development.

To address the financing pain points of SMBs, non-traditional financial service providers, represented by Lufax Holding, have fused their financial genes with advanced technology and leveraged their extensive traffic and data technology advantages to effectively solve the financing difficulties of SMBs. By combining data-driven algorithms, Lufax can comprehensively analyze customer risks and offer loan products with flexibility in structure, size and tenor for small and micro businesses based on different levels of user risk to meet the needs of SBOs. Meanwhile, Lufax continuously improved its algorithm model through continuous feedback from the monitoring data of post-origination, thereby optimizing the system and helping it better serve SME owners.

As of the end of 2020 and 2022, the outstanding balance of loans granted by Lufax to SBOs increased from RMB370.9 billion to RMB448.9 billion, with a compound annual growth rate of 10%. According to CIC, we ranked second among non-traditional financial service providers for SBOs in China in terms of total outstanding balance of inclusive SMB loans as of June 30, 2022, with a market share of 17.6%.

Bright industry prospects with U-shaped recovery potential

In October 2020, Lufax was listed on the New York Stock Exchange in the United States. Since its listing, the Company has always maintained compliant and prudent operation. In 2022, the Company achieved a total revenue of RMB58.1 billion and a net profit of RMB8.8 billion. At the same time, the Company focuses on creating value for its shareholders by starting to pay dividends in its second year of listing. The amount of dividends paid and to be paid in 2021 and 2022 represents approximately 29.4% and 40.0% of the net profit of the year, respectively.

Lufax Holding has a strong balance sheet position. As of December 31, 2022, the net assets of the Company increased to RMB94.8 billion from RMB83.2 billion as of December 31, 2020, of which cash at bank increased from RMB24.2 billion to RMB43.9 billion.

Recently, China's economy has been on a clear upward trend, which has expanded room for growth for leading enterprises such as Lufax Holding. On the one hand, domestic fundamentals remain a strong recovery. According to financial data in March, new short-term corporate loans increased by RMB 1.08 trillion, an increase of over RMB 270 billion year-on-year, which objectively reflects that demand from SMEs also improved in March. On the other hand, Lufax Holding itself is actively adjusting its business to focus on higher quality customers and continues to push forward its cost control measures to improve operational efficiency. Listing filings indicate that as new loan vintages replace older ones, the Company's financial performance is expected to achieve a U-shaped recovery, supported by a macroeconomic rebound and improved loan quality.

In the medium to long term, the credit market for SMBs still has great potential for growth. According to CIC, the total outstanding balance of inclusive SMB loans in China is expected to grow from RMB20.8 trillion as of the end of 2021 to RMB42.7 trillion by the end of 2026, representing a CAGR of 15.5%. The balance of such loans enabled by non-traditional financial service providers will grow at a CAGR of 17.7%, and the percentage of such loans will increase from 12.9% in 2021 to 14.1% in 2026.

The return of Lufax Holding to the Hong Kong stock market will help it realize its long-term growth strategy by synergizing with its business centred on China, and helping it to better capture the growth opportunities of the credit market in China's micro and small enterprises. At the same time, a dual listing will also widen the investor base of the Company and increase the liquidity of the Shares. There is a possibility that company's valuations will be reshaped in anticipation of a U-shaped recovery.

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

Indonesian President and German Chancellor Attend Hannover Messe 2023 Opening Ceremony

Hanover, Germany, Apr 20, 2023 – (ACN Newswire) – Inaugural opening ceremonies for Hannover Messe 2023 took place on Monday night (16/4) local time in Hannover. Indonesia was once again given the golden opportunity to take on the role of an official partner country during this year's event. Previously, during the Covid-19 epidemic, Indonesia had become a partner country in Hannover Messe 2021: Digital Edition. The opening ceremony of the largest industrial exhibition event was held on Sunday, April 16, 2023, at 18:00 local time.

Indonesian President Joko Widodo delivering his remarks at the opening of the Hannover Messe 2023 in
Hannover, Germany, on Sunday evening (April 16, 2023) local time. (ANTARA/HO Biro Setpres)

Joko Widodo, the President of the Republic of Indonesia, and Olaf Scholz, the Chancellor of Germany, were present for the opening ceremony of Hannover Messe 2023, which was held at the Hannover Congress Centrum in Hannover. The inauguration by the two leaders of both countries marked the start of the annual exhibition, which has been running for more than 74 years.

At Hannover Messe 2023, Indonesia presented the theme "Making Indonesia 4.0." The President stated that the theme is extremely relevant for Indonesia, which is undergoing economic transformation through innovation and technology. "Indonesia is currently implementing two big strategies, namely downstream industry and green economy," said President Joko Widodo.

Moreover, the abundance of natural resources, the enormous demographic and market benefits, and a robust economy are factors that support the downstream industry policy. Therefore, Indonesia aims to lead the electric vehicle (EV) market with these encouraging factors. "Indonesia is very open to foreign investment and collaborative efforts to develop Indonesia's downstream industries. Moreover, 21 commodities are predicted to achieve an investment value of USD 545.3 billion by 2040, according to the downstream industry roadmap," the President added.

Indonesia has a strong commitment to preserving environmental sustainability in the green economy. Furthermore, in 2023, it is targeted that up to 23% of energy will come from new and renewable sources (EBT), and all coal-burning plants will be shut down by 2025. Indonesia must, however, ensure that the energy transition can provide the population with a reasonable price. "Of course, this effort will require financial support; it will cost at least USD 1 trillion until 2060. Therefore, to develop a green economy, Indonesia invites German investors. Again, Indonesia is very open to partnerships and investments," said the President.

As stated by the President of the Republic of Indonesia, the Chancellor of Germany said that Indonesia will soon become a member of the "cooperative climate club" due to its goal of completely decarbonizing the electrical sector by 2025. "Additionally, Germany will encourage investments totaling EUR 10 billion in Indonesia from the G7 countries. I invite all of you, German companies, to take this opportunity to ensure that this goal's spirit is appreciated," said Chancellor Olaf Scholz.

Following the event, Bettina Stark-Watzinger, the Federal Minister of Education and Research, presented the Hermes Award winner during the series of opening ceremony events, which were organized by Deutsche Messe AG (DMAG). All companies registered as exhibitors at the Hannover Messe 2023 events are eligible to participate in the Hermes prize event, which is the worldwide technological prize presented by Hannover Messe. The winner of the Hermes Award at the Hannover Messe 2023 is Bosch Rexroth, which is considered to meet the requirements for technological innovation, industrial benefit, environment, and society.

The Hannover Fairground will host the Hannover Messe 2023 during the next five days, ending on April 21, 2023. In this event, Indonesia collaborated with 157 co-exhibitors from industrial firms, including industrial startups, associations, industrial estates, Special Economic Zones, and educational institutions, as well as the National Capital of the Archipelago (IKN).

Partner Country 2023 – Indonesia

As Partner Country to Hannover Messe 2023, Indonesia presents more than 150 exhibiting organizations that range from large industrial companies, small and medium-sized enterprises and startups to industrial estates, industrial associations and government ministries and institutions. Indonesia invites you to discover its potential – join the Partner Country's infinite journey at Hannover Messe. Visit https://indonesiahannovermesse.id.

The Ministry of Industry (Kemenperin)
Public Relations Bureau, Jakarta
E: humaskemenperin@gmail.com

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