Avantor Named Best Bioprocessing Supplier in Cell and Gene Therapy at the Biopharma Excellence Awards India Edition

Award recognizes Avantor’s outstanding efforts to expand the market reach for life-altering innovative cell and gene therapies

Pune, INDIA, April 3, 2023 – (ACN Newswire) – Avantor, Inc., a leading global provider of mission-critical products and services to customers in the life sciences, education and government, advanced technologies and applied materials industries, has been honored with the Best Bioprocessing Supplier Award for Cell and Gene Therapy at the Biopharma Excellence Awards (BEA) India Edition 2023, organized by IMAPAC in Pune, India.

Ganesh Bade – Head of Biopharma India Middle East & Africa (IMEA), Avantor (right) receiving the accolade at the Awards ceremony.

The award recognizes Avantor’s outstanding efforts to support the expansion of life-altering innovative cell and gene therapies to treat complex disease. Avantor is focused on making valuable contributions to cell and gene therapy production and offers expertise, technology capabilities and commitment to providing solutions. Recently, Avantor was also accorded the Best Bioprocessing Company in Chromatography at the Asia-Pacific Bioprocessing Excellence Awards (ABEA) 2023 held in Singapore.

Ganesh Bade, Head Biopharma India Middle East and Africa (IMEA) at Avantor, said, “Cell and gene therapy is considered a game-changer for the biopharma industry. But the real effort lies in supplying this life altering solution at a reasonable cost to those in need. With high purity production chemicals, sterile fluid transfer systems, cell culture components and excipient technologies, Avantor is advancing the scalability and manufacturability of viral vector production to cell and gene therapies.”

“One of the most revolutionary modalities rising in the biopharmaceutical sector is cell and gene therapies. Avantor offers a comprehensive range of bioprocessing solutions such as media and supplements, single-use technologies, and custom development services to help accelerate the development and commercialization of cell and gene therapies,” said Amit Sehgal, Managing Director, Avantor India. “With this award, we are renewing our commitment to make cell and gene therapy successful and supply it with greater efficacy and reduced risk.”

Avantor provides compliant materials in scalable formats and single-use solutions for viral vector, CAR-T and gene therapies manufacturing, that have the potential to help reduce contamination risk, improve resource efficiency and reduce labor and energy costs. As part of its regulatory support services, Avantor also helps customers navigate the complex regulatory landscape of cell and gene therapy development and commercialization.

The Best Bioprocessing Supplier in Chromatography award recognizes Avantor’s ongoing efforts to provide innovative chromatography solutions that enable biopharmaceutical manufacturers to optimize processes and enhance product quality. With over four decades of experience in bioprocessing, Avantor is committed to addressing the complex challenges of downstream chromatography by providing a comprehensive range of equipment, products and services.

About Avantor

Avantor®, a Fortune 500 company, is a leading global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. Our portfolio is used in virtually every stage of the most important research, development and production activities in the industries we serve. Our global footprint enables us to serve more than 300,000 customer locations and gives us extensive access to research laboratories and scientists in more than 180 countries. We set science in motion to create a better world. For more information, visit avantorsciences.com and find us on LinkedIn, Twitter and Facebook.

About Bioprocessing Excellence Awards (ABEA) India Edition 2023

The Biopharma Excellence Awards (BEA) India 2023 seeks to recognize exceptional biologics and vaccine experts, organizations and technologies that facilitate vaccine R&D and biologics manufacturing excellence at enhanced speed, reduced cost and superior quality. The BEA India Edition 2023 applauds extraordinary leaders & trendsetters of today and inspires the innovators of tomorrow.

Regional Media Contact:
Christina Koh
Director, Communications – AMEA
Avantor
M: +65 9720 0169
Christina.Koh@avantorsciences.com



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

HG Semiconductor Announces 2022 Annual Results

HONG KONG, Apr 3, 2023 – (ACN Newswire) – HG Semiconductor Limited ("HG Semiconductor", together with its subsidiaries, "the Group"; stock code: 6908.HK) announced its audited consolidated results for the year ended 31 December 2022 (the "Year"). HG Semiconductor actively developed its new third-generation semiconductor business during the Year, by further accelerating the pace of research and development ("R&D") and application of gallium nitride ("GaN") technology and achieving several important milestones.

During the Year, since the third-generation semiconductor business was still in investment and R&D stage, the Group's revenue was mainly contributed from the LED bead business. The recurring COVID-19 pandemic ("COVID-19" or "Pandemic") had severe negative impact on China's economy. The temporary closure of factories due to lockdown measures among cities had halted the industrial chain of the Group's LED bead business for certain period of time and impacted its production capacity accordingly. Revenue for the Year was approximately RMB87.5 million (2021: approximately RMB126.1 million), while gross profit decreased to RMB16.4 million (2021: approximately RMB25.5 million). As the Group did not record any non-cash flow items such as loss on acquisition of intangible assets, loss for the Year attributable to the owners of the Company narrowed significantly to approximately RMB101.3 million (2021: approximately RMB446.8 million) despite the increase in expenditure on the promotion and R&D of the third-generation semiconductor business.

The management of the Group revealed that the global economic recovery was hampered by multiple factors during the Year, and the world economy was undergoing a turbulent state. Despite the macroeconomic uncertainties, the global semiconductor demand remained robust. Facing the challenges of the international environment, the Group focused on developing new GaN business during the Year to move towards the goal of becoming an integrated device manufacturer ("IDM") of semiconductor serving for whole industrial chain with a core focus on semiconductor design and manufacturing, integrating R&D, manufacturing, packaging and package testing and sales.

Business Review

During the Year, the Group's revenue of LED bead business was approximately RMB87.2 million (2021: approximately RMB126.1 million). The decrease in revenue was mainly due to the decrease in the average selling price of LED beads during the Year, as the demand for high-end LED products in the PRC has substantially decreased as a result of the recurrences of the COVID-19 outbreaks and the emergence of mutated variants of the virus, which adversely impacted the Chinese economy.

Nonetheless, with the strong scientific research capabilities and diligent efforts in the R&D and production of the Group's team of scientists, the epitaxial wafer and fast charging products in the third-generation GaN business began to generate revenue for the Group during the Year.

GaN epitaxial wafer R&D and production breakthrough turbo-charges development of third-generation semiconductor industry chain
During the Year, the Group's R&D, manufacturing and implementation of GaN third-generation semiconductors were realised, and quickly channelled into the production of epitaxial wafer. The Group has installed two production lines in its semiconductor factory in Xuzhou Economic and Technological Development Zone, Jiangsu Province, PRC for the production of GaN-related products, and core machines imported from Europe and Japan have been delivered to the factory and are ready for chips manufacturing to meet the market needs. With the efforts of the scientist team and their strong R&D capabilities, the Group achieved a major breakthrough during the Year by successfully commencing the production of its own 6-inch GaN power device epitaxial wafer in October. The success in manufacturing the epitaxial wafers is well ahead of the expected schedule, representing an important achievement in the Group's transformation into a third-generation GaN semiconductor supplier, and paving the way for mass production of GaN chips.

In addition, the Group was granted 9 utility models patents and appearance patents during the Year, including GaN-based inverters and power supply modules, with a number of invention patents pending for approval. Xuzhou GSR Semiconductor Co., Ltd., the Group's wholly-owned subsidiary, conducted its first publicised industry field trial of GaN with GaN Systems in the power infrastructure of an internet data centre. The test results marks that GaN can be widely used in the power infrastructure of data centres.

Multi-party strategic cooperation achievements continue to drive GaN business
During the Year, HG Semiconductor entered into strategic framework agreements with a number of industry-leading companies to establish mutually beneficial strategic partnerships and enhance the Group's capabilities in innovation and manufacturing, including entering into a strategic cooperation agreement with Ingdan Inc. (Stock Code: 400.HK) in March, to assist the Group in the sale of its manufactured chips in the PRC, and a long-term strategic cooperation between the two parties in the application and development of chips. In May, the Group reached a strategic cooperation agreement with China Titans Energy Technology Group Co., Limited (Stock Code: 2188.HK) in respect of technology R&D and exchange, to cooperate in the R&D of the new generation of fast-charging piles using the Group's third-generation semiconductor technology in the next three years. While in terms of overseas, the Group also entered into a non-legally binding memorandum of understanding with GUH Holdings Berhad ("GUH"; Stock code: 3247.KL) to expand the sales of fast-charge batteries and GaN devices to Malaysia and Southeast Asia. At the same time, the Group will provide GUH with plans for the construction of a battery factory and the procurement of related equipment, as well as the provision of a complete set of module equipment for a 100 MWh energy storage station. Moreover, the Group continued to cooperate with Hong Kong's statutory bodies, wherein both sides will jointly research and promote "smart city" development in Hong Kong, as well as study the upgrade of local electric vehicle and charging facilities.

Introduction of major strategic shareholders to accelerate the pace of entering the new energy field
GaN, as an emerging new technology, its broad prospects are favoured by investors. During the Year, the Group successfully introduced a number of strategic shareholders to raise more capital for the development of key technologies and to further enlarge its shareholder base. Among them, the Group entered into an agreement with Profit Act Limited ("Strategic Investor") in August, a company that is indirect wholly-owned by Mr. Zhu Gongshan ("Mr. Zhu"), the Founder, Chairman and Executive Director of GCL Technology Holdings Limited ("GCL Technology"; Stock Code: 3800.HK), and the Strategic Investor agreed to subscribe for 60 million subscription shares and 60 million subscription warrants. Subsequently, the Group also entered into a strategic cooperation framework agreement with Golden Concord Group Limited ("Golden Concord Group"), for a long-term strategic cooperation in the application of GaN power chips in the new energy sector. This partnership will assist HG Semiconductor in entering the supply chain market in the new energy industry.

Prospect

With the rise of technologies such as 5G and artificial intelligence, the R&D and application of third-generation semiconductors represented by GaN are also included in the national strategic planning. The Group will continue to make increased efforts to the third-generation semiconductor GaN industry chain in order to accelerate the pace of R&D and expand the applications of GaN-related products. Along with the upgrade of Xuzhou Factory and the production lines and machines are well in place, the Group's R&D team and experts will continue to focus on production research, aiming to accelerate the realisation of production capacity.

As market penetration of electric vehicles in Mainland China and Hong Kong increases, coupled with policy support and solid market demand, the further development of GaN power products is expected to be rapid. The Group will continue to develop and commercialise new-generation charging piles in both China and Hong Kong, and actively explore the establishment of a stronghold for fast-charging battery solutions in Hong Kong. In addition, the Group expects that GaN technology will play a key role in great energy systems in the future. The Group intends to establish a new-energy joint venture company with Golden Concord Group in China and provide technical support to the venture for the purpose of co-developing silicon-based power chips and products that use third-generation semiconductors. In this way, the Group can further accelerate the pace of R&D of technologies and applications of GaN in the new-energy field.

Looking ahead, the Group will actively seek strategic partners and upgrade its industrial chain while upholding the principle of achieving synergy in use of resources and dual-win cooperation. Meanwhile, the Group will also continue to bring in outstanding experts and talents in the field of semiconductor to enhance its production and R&D. Buoyed by three factors – the government's favourable policies, extensive downstream application markets, and domestic substitution opportunities – the Group will benefit from tailwinds in further developing and exploring third-generation semiconductor products and applications with GaN at their core, continue to boost quality and efficiency, maximising value for its shareholders.

About HG Semiconductor Limited
HG Semiconductor Limited (6908.HK) is principally engaged in semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode ("LED") beads and a new generation of semiconductor gallium nitride ("GaN"). The Group is committed to accelerating its research and development and expansion in the application of GaN related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost.

For more details, please visit www.hg-semiconductor.com


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

Blockpass Achieves ISO Info Security Certification from British Assessment Bureau

HONG KONG, Apr 3, 2023 – (ACN Newswire) – Blockpass is proud to announce that, through consulting and advisory firm Charmwood Risk Management, Blockpass UK is now certified to ISO 27001 by The British Assessment Bureau, a UKAS Accredited Organisation. The award of this certificate (meeting the requirements of BS EN ISO/IEC 27001:2017) confirms Blockpass' ability to provide KYC and AML tools for cryptocurrencies, Defi and other regulated industries globally, demonstrating the suitability of Blockpass for companies seeking regulatory solutions in any jurisdiction. The certificate is available to view here: https://cvs.babcert.com/babcert.asp?c=241611&v=k34q1g2c2q



Charmwood Risk Management is a consulting and advisory firm with a global team specializing in supporting businesses with; implementation, internal auditing, staff training and maintenance of a broad range of ISO Management Systems Certifications such as ISO 27001, ISO 27701, ISO 9001, ISO14001, ISO 45001, and many more including technical specifications such as Tisax and PAS 2060 (Carbon Neutrality) and bespoke supply chain audits. Charmwood Risk Management are also approved providers of technical consultancy services by several UKAS Accredited Certification Bodies.

The British Assessment Bureau awards internationally-recognised certificates that are accredited by UKAS – the government-appointed national accreditation body for the United Kingdom. Accreditation by the British Assessment Bureau determines the competence and integrity of organizations, with the ISO/IEC 27001 Information Security Management standard requiring businesses to securely manage information assets and data to an internationally recognised standard, as well as providing a robust approach for managing assets including customer and employee details, intellectual property, financial information and third-party data.

Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC & AML SaaS that requires no integration and no setup cost. You can set up a service in minutes, test the service for free and start verifying and on-boarding users. Currently, with around one million verified user identity profiles, Blockpass facilitates instant onboarding, and to date over a thousand businesses have taken advantage of this opportunity to get access to users, including those with unhosted wallets, with reusable digital identity profiles.

Anthony Matthews, Managing Director Charmwood Risk Management Ltd, said: "Congratulations to all at Blockpass UK, this is an excellent achievement! ISO Management Systems are fully embedded within the culture and ethos of everything Blockpass does. Since the company embarked on their journey and successfully achieved UKAS Accredited Certification to ISO 27001 with the British Assessment Bureau, all of the staff have truly embraced the principles of ISO, from the board of directors to the delivery teams. We very much look forward to working with you all and being part of your continued future success."

"We're very happy to have achieved this certification, which joins our recent Cyber Essentials Plus certification in showcasing our ability to provide safe and secure solutions." said Adam Vaziri, Blockpass CEO. "Whilst we ensure we keep to the highest standards for regulatory requirements and good practices, it is vindicating to have the standard of our work verified by an internationally trusted body such as the British Assessment Bureau."

Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations it has partnered with and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. The existential need for DeFi projects to be regulatory compliant and the recent integrations and legal developments have led to a surge in interest for Blockpass' On-Chain KYC(R), the only live zero knowledge solution for Crypto KYC, and Unhosted Wallet KYC solution finally enabling blockchains and DeFi platforms to have a compliance layer. Through its work with Animoca Brands from early 2022, Blockpass provides a zero knowledge KYC service where the delivery of the verification result is provably sent and shown on a blockchain without sharing the underlying data. This represents a significant step towards the future Blockpass hopes to bring about where identity verification can be proved without revealing any personal information at all.

About Blockpass

Blockpass is building trust in the Crypto Economy by providing….
– A home for all your Crypto KYC needs – KYC & AML for DeFi, exchanges & blockchains, Travel Rule provision for regulated VASPs, and blockchain forensics.
– A decentralized network of around one million crypto enthusiasts with portable KYC profiles and around one thousand business customers.
– The fastest, most affordable, fully stacked KYC & AML screening in the Crypto sector.
– The first and only KYC & AML "Crypto Travel Rule" solution for unhosted wallets.

In 2021, Blockpass was invited to enter the Cohort 7 of the UK Financial Conduct Authority Sandbox to offer a pilot our solutions for the UK market. Blockpass also introduced the On-Chain KYC(R) solution that enables customers to access zero-knowledge verification of users so they can access provably completed verifications and adhere to standards without seeing the underpinning data. In 2022, Animoca Brands and Yuga Labs utilized On-Chain KYC(R) when they verified over 150,000 users in the $320 million Otherside NFT sale – the largest to date in Crypto sector history.

The Blockpass App is available from the App Store and Google Play. For more information and updates, please visit and sign up to the following:
Promotional video: https://youtu.be/SvO2cw3e-SI
Website: http://www.blockpass.org
Email: sales@blockpass.org

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

Indonesian MCI Ensures Telecommunication Access for Successful ASEAN Chairmanship 2023

JAKARTA, Apr 1, 2023 – (ACN Newswire) – Indonesia's Ministry of Communications and Informatics (MCI) is preparing digital infrastructure to support the successful ASEAN Chairmanship 2023. Acting Director-General of Posts and Informatics Operations of the Ministry of Communications and Informatics, Ismail, stated that his ministry is continuously monitoring the telecommunications network to maintain its quality.


Indonesian MCI Ensures Telecommunication Access for Successful ASEAN Chairmanship 2023


"One of MCI's tasks is to provide telecommunications networks and internet access to ensure the smooth running of ASEAN Chairmanship 2023," he emphasized in Jakarta on Friday, March 31, 2023.

Ismail also stated that specifically for the ASEAN Summit slated to be held in May 2023 in Labuan Bajo, East Nusa Tenggara, MCI has ensured adequate network infrastructure. There are 3,773.73 km of fiber optic network and 2,055 ODP points in the area. In addition, there are 1,635 4G BTS and 3 5G BTS.

Regarding the quality of the network, Ismail stated that Labuan Bajo, which had previously hosted the G20 event, has been served by 4G and 5G telecommunication networks. In fact, fixed broadband operators are also available in the area.

"78.12% of the Labuan Bajo area has been covered by 4G signals. Even in residential areas, the coverage has reached 94.51%, and some areas have been served with 5G signal," he said.

The ministry is also monitoring the quality of mobile telecommunications networks. In fact, telecommunications service operators have taken anticipatory measures by upgrading their networks through Combat BTS provision.

"We are monitoring from our Telecommunications Monitoring Center. And for the needs of ASEAN Summit 2023, telecommunications operators, especially the Telkom Group, are making various preparations, such as providing Combat BTS and upgrading some existing BTS in Golomori and Labuan Bajo, which are currently in progress by 44.7% and targeted to be completed by the second week of April 2023," he said.

–Antara

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

ScamAdviser Coin ‘Scams’ the Internet for April Fools

AMSTERDAM, Mar 31, 2023 – (ACN Newswire) – To prove how easy it is for anyone to launch a scam site, the Global Anti Scam Alliance and ScamAdviser launched 'ScamAdviser Coin' in the lead-up to April Fool's Day 2023. The goal of this campaign was to highlight the importance of forming better policies to combat scammers.


Investment Options ScamAdviser Coin


Last year, nearly 300 million consumers lost more than $55 billion, according to the Global State of Scams 2022 report. Especially, investment scams continued to rise, caused by digitalization, high inflation, and the increasing cost of living.

Within a matter of days, a website was set up that promised investors 100% returns in 14 days. Setting up the site was just $250, including purchasing a website template, registering the domain name 'scamadviser.club' and purchasing website hosting.

UK's Companies House lacks a Due Diligence process

To create a sense of trust, a fictitious company named 'ScamAdviser Coin Limited' was registered in the UK's Companies House Registry, using as Directors names the notorious fraudsters Charles Ponzi and Bernard Madoff for just $15.

This is possible as the Companies House itself states, "Companies House does not verify the accuracy of the information filed". However, few, if any, people know that Companies House does not do any due diligence. Many people, especially from abroad, believe that if a company is registered in the United Kingdom, it must be legit.

Promoting the Scam on Facebook and Google

The fake investment website was even advertised on Facebook for a brief period before being reported by users. The ads were disapproved by Google's search engine advertising platform, citing their policies regarding 'Unacceptable business practices'.

Several 'experts' on a popular freelancing platform offered to help advertise the scheme on Facebook and Google. Their advice: You need to "warm up" a Google Adword or Facebook account. After three weeks and not using specific keywords like "coin", it's easy to promote any kind of investment scam.

The Result: $11,000 earned in 10 days

ScamAdviser Coin only has been up for 10 days. Many could not spot the signs of a scam as 144 users signed up to join the waitlist for the program, which was supposedly set to launch on 1 April 2023. With the users pledging to invest a total of $11,010, the scheme would have generated an ROI of 4400% for the scammer.

Jorij Abraham, General Manager of GASA, said regarding the campaign, "For only $250, you can not only set up an investment scam but also a legitimate-looking company. The way Companies House operates is hurting consumers. Many believe that a company registered in the UK must be trustworthy. Instead, it seems to be the opposite."

About the Global Anti Scam Alliance

Our mission is to protect consumers worldwide from scams by raising awareness and facilitating knowledge sharing. The full article can be found on ScamAdviser ( https://pr.report/CEG9N2Wu) and GASA ( https://pr.report/cZbHvWtd ).

Contact Information
Jorij Abraham
General Manager
jorij.abraham@gasa.org

SOURCE: Global Anti Scam Alliance

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

Sino Biopharm (1177.HK) Announces 2022 Annual Results

HONG KONG, Mar 31, 2023 – (ACN Newswire) – Sino Biopharmaceutical Limited ("Sino Biopharm" or the "Company", together with its subsidiaries, the "Group") (HKEX:1177), a leading innovation-driven pharmaceutical conglomerate in the PRC, has announced its audited financial results for the year ended 31 December 2022.




Development Highlights

Oncology Innovative Drugs
— Focus V (Anlotinib Hydrochloride Capsules) has been approved for five indications: third-line non-small cell lung cancer, third-line small cell lung cancer, soft tissue sarcoma, medullary thyroid cancer and differentiated thyroid cancer.
— The Phase III clinical trials of Anlotinib in combination with TQB2450 (PD-L1) for the treatment of first-line small cell lung cancer has completed interim analysis and met the pre-specified endpoint.
— In addition, 12 new indications for Anlotinib have also entered Phase III clinical trials, including the combination of Anlotinib with Penpulimab monoclonal antibody, Anlotinib with TQB2450 (PD-L1), Anlotinib with chemotherapy, and other treatment options, for which marketing applications are expected to be submitted progressively in the next one to two years.
— Annike (Penpulimab monoclonal antibody injection) injection was approved in January 2023 for the treatment of first-line locally advanced or metastatic squamous non-small cell lung cancer with chemotherapy. To date, the product has been approved for two indications: third-line classic Hodgkin's lymphoma and first-line squamous non-small cell lung cancer. In addition, it has one indication (third-line nasopharyngeal carcinoma) under marketing review.
— F-627 (Efbemalenograstim alpha, long-acting granulocyte colony-stimulating factor) is currently in the marketing application stage. F-627 is currently the only G-CSF drug on the market that has conducted simultaneous research head-to-head with both short-acting and long-acting G-CSF in large sample sizes. Phase III clinical trials have been completed with marketing applications submitted in China and the United States. The Group expects that the marketing application will be approved in China in 2023. With its strong oncology sales team, Sino Biopharm is confident in a smooth launch and rapid market penetration of the product.

Liver Disease Innovative Drugs
— Lanifibranor (pan-PPAR agonist) is an orally-available small molecule. The product is currently undergoing Phase III clinical trials globally, and is the first oral drug for NASH that has entered Phase III clinical trials in China, to address a large clinical unmet need in the China NASH market.

Respiratory System Innovative Drugs
— Ensitrelvir (3CL protease inhibitor) is a novel oral drug for the treatment of COVID-19. The drug has the potential to become a good oral drug for the treatment of COVID-19.

Surgery/Analgesia Innovative Drugs
— PL-5, an antimicrobial peptide product that is the first newly designed non-antibiotic antimicrobial drug with a broad antibacterial spectrum. The product has completed a Phase III clinical study in China for the treatment of secondary wound infections, and the Group expects to file a marketing application within this year. When the product is launched, it will be the first antimic robial peptide product available in China.

Generic Drugs
— As of the end of the reporting period, the Group's generic drug products, with annual revenue of more than RMB500 million (excluding exclusive products), have been included in the scope of centralized drug procurement. The stock of generic drugs that has not been included in the scope of centralized drug procurement has been cleared, hence, eliminating its risk exposure in centralized drug procurement.

During the year, the Group recorded revenue of approximately RMB28.78 billion, an increase of approximately 7.1% over last year. Profit attributable to the owners of the parent company was approximately RMB2.54 billion. Earnings per share attributable to the owners of the parent company were approximately RMB13.66 cents, a decrease of approximately 82.4% over last year. Excluding the share of profits and losses of associates and a joint venture (net of related tax and non-controlling interests), one-off adjustments for the impairment and fair value changes of certain assets and liabilities (net of related tax and non-controlling interests), fair value losses of current equity investments, share-based payments, loss on extinguishment of partial convertible bond, fair value gain of convertible bond embedded derivative component, effective interest expenses, exchange gain and fair value losses of derivative financial instruments in relation to foreign currency forward contracts of the convertible bond debt component, adjusted non-HKFRS profit attributable to the owners of the parent was approximately RMB2.99 billion, an increase of around 16.4% over last year. The Group's liquidity remains strong, with total fund reserve at approximately RMB22.96 billion, including cash and bank balances classified under current assets of approximately RMB12.07 billion, bank deposit classified under non-current assets of approximately RMB6.35 billion, and the wealth management products of approximately RMB4.54 billion in aggregate.

The Board of Directors has recommended a final dividend payment of HK6 cents per share. Together with the interim dividend of HK6 cents already paid, the total dividend for the year amounted to HK12 cents (2021: HK8 cents).

Sales: Sales revenue contributed by new products and innovative drug products rises relied on a strong sales system
The Group continues to focus on developing innovative medicines in four therapeutic areas and has benefited significantly from the continuous and huge investment it has made in R&D over the years. During the year, sales revenue from new products (products launched within five years) launched amounted to RMB12.51 billion, a 19.8% year-on-year increase, accounting for 43.5% of the Group's total revenue for the year, up from 38.9% for last year. Revenue from innovative drugs amounted to RMB6.75 billion, up by 20.0% year-on-year, and accounted for 23.5% of the Group's total revenue.

During the year, the Group's sales contribution continued to be led by drugs in the areas of oncology, surgery/analgesia, liver disease and respiratory system. Among them, the sales of oncology medicines amounted to approximately RMB9.19 billion, up by approximately 14.3% for last year, representing approximately 31.9% of the Group's revenue. The sales of surgery/analgesia and liver disease amounted to approximately RMB4.88 billion and RMB3.84 billion, respectively, representing approximately 17% and 13.3% of the Group's revenue, respectively. In addition, sales contributions from various areas such as respiratory, cardio-cerebral vascular medicines and others were comparable. Among them, the sales of respiratory and cardio-cerebral vascular medicines accounted for approximately 10.2% and 9.4% of the Group's revenue, respectively.

R&D: Continued to focus on R&D of innovative medicines, emphasizes protection of intellectual property rights
The Group has continued to focus its R&D efforts on new medicines in four therapeutic areas, namely
oncology, liver disease, respiratory system and the surgery/analgesia. As of the end of the reporting period, the Group has 103 products under development, including 53 oncology products, 12 liver disease products, 26 respiratory system products, and 12 surgery/analgesia products, involving a total of 58 Category I innovative products.

The Group also emphasizes the protection of intellectual property rights. It encourages its member enterprises to apply for patent applications as a means to enhance the Group's core competitiveness. During the year, the Group filed 1,006 new patent applications and received 280 authorized patent notices.

Prospects: Focus on main four therapeutic areas while the innovation and transformation have entered the harvest stage
As the pharmaceutical industry is likely to pick up rapidly. The Group has closely followed the development of the country, society and industry, and adjusted its development strategy in a timely manner. It has actively conducted organizational integration, optimized the internal organizational structure of the Group, and accelerated construction of business teams across different channels, in order to grow its business rapidly and deliver results in a stable manner.

According to important guidelines of the Country such as the "14th Five-Year Plan for Bioeconomy" and Key Tasks for Deepening the Reform of the Medical and Healthcare System in 2022. Sino Biopharma regards innovation and transformation as integral to its strategic development, and is focused on four main therapeutic areas: oncology, hepatitis, respiratory, and surgery/ analgesia. It has been mapping out innovative drug projects with best-in-class (BIC) and first-in-class (FIC) potential, and is driving innovative development through its dual engines: internal research and development, and commercial expansion. At present, the Group's innovation and transformation have entered the harvest stage. In the next three years, more than 10 innovative drug products will be launched, and over 40 innovative drugs in the pipeline may be launched by 2030, further promoting the high-quality development of the Group, realizing the revenue target of HK$100 billion by 2030, and becoming a leading innovative pharmaceutical group in the world. In addition, as the cornerstone of generic drugs, the Group will continue to deploy special generic drugs that have broad market prospects and are highly competitive, and through efficient and stable production maintain steady revenue growth from generic drugs.

Under the four main strategies of "organizational integration, comprehensive innovation, internationalization, and digitalization", the Group will further consolidate resources, improve operational efficiency, accelerate and facilitate cooperation at home and abroad, and promote global innovation and development.

About Sino Biopharmaceutical Limited (HKEX:1177)
Sino Biopharmaceutical Limited is a leading, innovative R&D-driven pharmaceutical conglomerate in the PRC. Its business encompasses a fully-integrated chain which covers an array of R&D platforms, a line-up of intelligent production and a strong sales system. The Group's products have gained a competitive foothold in various therapeutic categories with promising potential, comprising a variety of biopharmaceutical and chemical medicines for tumors, liver diseases, respiratory system diseases and surgery/analgesia.

Sino Biopharma is a constituent stock of the following indices: MSCI Global Standard Indices – MSCI China Index, Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng Composite Index, Hang Seng Healthcare Index, Hang Seng SCHK Mainland China Healthcare Index, Hang Seng Composite LargeCap Index, Hang Seng Composite LargeCap & MidCap Index, Hang Seng China (Hong Kong-listed) 100 Index and Hang Seng Stock Connect Hong Kong Index, etc. Sino Biopharm was ranked as one of "Asia's Fab 50 Companies" by Forbes Asia for three consecutive years in 2016, 2017 and 2018.

For more information:
Strategic Financial Relations Limited
Vicky Lee +852 2864 4834 vicky.lee@sprg.com.hk
Sophie Du +852 2864 4815 sophie.du@sprg.com.hk
Website: www.sprg.com.hk


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

ACROMETA Signs Sales & Purchase Agreement for Additional 40% of Life Science Incubator

SINGAPORE, Mar 31, 2023 – (ACN Newswire) – ACROMETA Group Limited, an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, has entered into a Sales and Purchase Agreement ("the Agreement") for an additional 40% of the outstanding shares of Life Sciences Incubator Pte Ltd ("LSI") for a total consideration of S$1.6 million payable in tranches, based on the realisation of agreed milestones in its immediate expansion plan. Upon completion of the purchase, the Group will control 70% of LSI, up from the current 30%.

The Agreement updates and follows from the Letter of Intent ("LOI") announced to SGXNet on 20 February 2023 for the proposed acquisition of an additional 40% stake in LSI.

A site visit to Brisbane and the due diligence carried out by ACROMETA Management have shortlisted the location of the proposed co-working laboratory in Australia as it found it suitable.

Mr Levin Lee Keng Weng, ACROMETA Chairman, said, "Brisbane is a booming hub for the Life Sciences sector in Australia. According to Global Australia[1], a government-industry development agency, Queensland is home to more than 250 life sciences organisations, 85 core biotech companies, and more than 100 biotech-related research organisations.

A whole ecosystem has emerged with clusters of dynamic and innovative SMEs and start-ups either conducting their R&D or supporting the multinationals and research centres focusing on biotechnology, pharmaceuticals, medical devices and specialist healthcare such as gerontology and neurology."

Mr Lee added, "The demand for co-working laboratory space is strong. The performance milestones for the payment in tranches agreed to by the Vendor indicate that both the Purchaser and the Vendor have confidence in the co-working laboratory business in Australia and Singapore.

The proposed additional co-working laboratory space in Singapore is to cater for expected growth in demand. In addition, as Singapore transforms its economy towards high-value sectors, more and more SMEs and start-ups conducting their R & D will require co-working laboratory space."

This Media Release is to be read in conjunction with the announcement on SGXNet on 31 March 2023.

[1] https://www.globalaustralia.gov.au/industries/health-and-life-sciences

About ACROMETA Group Limited (SGX Stock Code:43F)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.

The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMETA's business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates a 6,500 sq feet co-working laboratory space at The German Centre in Singapore serving SMEs and start-ups.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA's customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.

The Company has been listed on the Catalist board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com

Media and Analysts Contact:

ACROMETA Group Limited
Mr. Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574
Email: jerry.tan@acromec.com

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: query@waterbrooks.com.sg

This media release has been reviewed by the Company's sponsor, Evolve Capital Advisory Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange"), and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com

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

Expand Investment in Science and Technology and Empower Industry Development, Legend Holdings Realized Revenue of RMB483.7 billion by 2022

HONG KONG, Mar 31, 2023 – (ACN Newswire) – Legend Holdings Corporation (stock code: 3396.HK) announced its audited annual results for the year ended December 31, 2022 (the "Reporting Period") on March 31, 2023. During the Reporting Period, Legend Holdings achieved revenue of RMB483.7 billion and net profit attributable to equity holders of the Company of RMB1.167 billion.

In 2022, uncertainties in the international situation continued to increase, including rising global inflation and significant volatility in international financial markets and commodity markets, which also had a significant impact on the Company's performance. The industrial incubations and investments segment successfully promoted the listing of over 60 enterprises in the last three years, among the best in the industry. However, as these investments were measured at fair value, the segment's performance was affected by the volatility of the capital market; in addition, Joyvio Group made a provision for goodwill and asset impairment in 2022 year due to factors such as rising operating costs caused by the increase in raw material prices and the interest rate hike by the Federal Reserve. Facing the challenges, the company carefully studied the layout and solidly promoted its strategy to strengthen its competitive ability while stabilizing its fundamentals and ensuring sustainable profitability.

Mr. Li Peng, Executive Director and CEO of Legend Holdings, said that during the reporting period, the company's performance recorded a considerable decrease, but the company insisted on the goal of achieving high-quality development, with "industrial operation and technological innovation" as the core of its long-term development strategy. The company's fundamentals are sound, and certain enterprises in the industrial operations and incubations & investments sectors have good long-term growth potential. The main task now is to further strengthen the existing business foundation and enhance industrial competitiveness, while actively adjusting the business portfolio and optimizing the business model to improve shareholders' returns. During the reporting period, the industrial operations segment overcame various unfavorable factors and continued to promote management improvement and operation enhancement; the industrial incubations and investments segment focused on national key fields, supporting independent innovation and industrial chain upgrades, promoting the development of specialized and innovative enterprises, and linking economic chains in line with the dual circulation strategy. At the same time, the company continued to increase investment in scientific research and frontier layout, grasp green opportunities, promote energy saving and carbon reduction, and make positive progress in various businesses.

Driven by Technological Innovation, Continuously Expand R&D Investment in Frontier Technologies

In the current context of China's implementation of science and technology innovation to lead high-quality development, Legend Holdings grasps the opportunities of the times and has been constantly improving its enterprise-led innovation system based on partnership among industry, academia and research institutes, and shaping a collaborative and efficient innovation pattern with specialized and innovative enterprises to promote the sustainable development of the enterprises.

In 2022, R&D expenses within the Legend Holdings system increased 21% year-on-year to RMB15.3 billion, with total R&D expenses of RMB37.8 billion in the past three years, representing a compound annual growth rate of 27%, with over 20,000 licensed patents, maintaining a leading position among large Chinese enterprises. Lenovo Group boosted its R&D investment by 21% year-on-year and has nine labs including artificial intelligence and enterprise cloud computing. The investment in R&D of Levima Advanced Materials increased by 21% year-on-year, and applied for 53 patents and obtained 58 granted patents during the reporting period. It focused on investment in the layout of high-end new materials, and achieved a breakthrough in the domestic production of electronic-grade hydrogen chloride and chlorine products after taking the lead in achieving the local substitution of photovoltaic film materials. The "20,000 tons/year UHMWPE (Ultra-High-Molecular-Weight Polyethylene) project" is expected to be put into operation in mid-2023, with the aim of reducing the UHMWPE import over-dependence. Fullhan Microelectronics' R&D investment increased by 20% year-on-year, mainly in chip R&D field, with R&D staff comprising 85% of its workforce.

At the same time, Legend Holdings also promoted its funds to closely follow China's national industrial plans and policy guidance and to intensively invest in national strategic industries, such as next-generation information technology, chips, new energy, new materials and AI. In 2022, the funds invested in almost 150 technology companies, and a total of 95 have been selected for the national list of specialized and innovative enterprises.

In the future, Legend Holdings will further focus on technological innovation when exploring new industrial areas and allocating resources, and will make long-term commitments in selected industries. The Company has set up the innovation and development center and planned to strengthen exchanges and cooperation with top universities and international institutions on early-stage technologies in key innovation areas.

Solidly Consolidate the Real Industry and Take Measures to Enhance the Quality and Efficiency of Real Economy

In 2022, Legend Holdings consolidated its business fundamentals, and withstood external challenges through management improvements and operational enhancements to ensure the steady progress of all businesses.

In the industrial operations segment, Lenovo Group continued to top the global PC business and was the world's No. 1 supercomputing maker, while at the same time, it fully promoted the transformation of its business to intelligent services, with the revenue share of non-PC business exceeding 40%. Among them, the Infrastructure Solutions Group has achieved rapid growth by grasping the trend of accelerated transformation of the global digital economy and the opportunity of the new computing revolution; the Solutions & Services Group, as the core business of digital and smart transformation, continues to maintain growth momentum.

Levima Advanced Materials maintained its leading edge in the new materials niche market, and expanded into new business areas to seize the opportunity of green development. During the Reporting Period, it completed the technical upgrade and capacity expansion of its EVA devices to further enhance operational efficiency, and several key projects were progressing ahead on track. The project covering lithium battery electrolyte materials completed its interim delivery and is about to be put into operation. Levima also entered the field of electronic materials by investing in electronic specialty gas. Construction of projects covering new energy materials for battery and biodegradable materials are progressing into the construction phase. The "New Energy Materials and Biodegradable Materials Integration Project" has obtained approval and is now under construction in an orderly manner.

Banque Internationale a Luxembourg ("BIL") has responded well to the challenges of the European economy and achieved good growth in all business indicators, while continuing to vigorously promote its business in China, helping Chinese enterprises issue overseas green bonds and contributing to the development of green finance; the bank's CET-1 ratio was 13.35% and its international credit ratings remained high. Joyvio Group's fruit business continued to reinforce its vertically integrated supply chain and core product strategy, and stepped up the development of new e-commerce retail channels.

On the other hand, a number of companies in the industrial incubations and investments segment have maintained their leading positions and steady development in their respective industries.

At the same time, Legend Holdings is also committed to promoting its portfolio companies to give full play to their advantages to empower the real economy.

Lenovo has been named to Gartner's Global Top 25 Supply Chain ranking for eight consecutive years and was the only Asia-Pacific high-tech manufacturer on the list, with more than 850 manufacturing suppliers, promoting mutual development with SMEs along the industrial chain. In 2022, its manufacturing bases in Tianjin and Shenzhen commenced operations, and its Hefei base was recognized as a "lighthouse" factory by the World Economic Forum. Its new IT solutions to intelligent transformation were successfully deployed by nearly 1,000 companies across various sectors.

Promote Green Development, Help Rural Revitalization and Increase Investment in Public Welfare of Science and Technology

As a company growing up under the system of the Chinese Academy of Sciences, Legend Holdings has been actively focusing on public welfare investment in the field of science and technology. In 2022, the company entered into a donation agreement with University of Chinese Academy of Sciences Education Foundation (UCASEF) to donate RMB60 million to set up the Scientific and Technological Innovation Project Fund of Legend Holdings, specifically for nurturing of the talents and basic researches in the fields of information technology, artificial intelligence, new materials and biotechnology of UCAS. Legend Capital has also set up the " Legend Capital Scholars Program" to help the construction of China's innovative talents; Lenovo Group has reached cooperation with Shanghai Jiao Tong University and Tsinghua University and initiated donations to help the cultivation of R&D talents in universities.

Rural revitalization is an important part of Legend Holdings' corporate social responsibility. In terms of industry, the company has cooperated with the China Women's Development Foundation since 2018 to help women from low-income rural families to start businesses with local features through the "Revolving Fund for Mothers Project", helping the local community to move towards the development path of quality-boosting agriculture, green-boosting agriculture and benefit-first. In terms of talents, the company has established Legend Holdings Rural Education Fund since 2004 to focus on rural education on an ongoing basis, helping students with limited family financial conditions realize their dreams of attending university.

The company continued to promote the focus on green and low-carbon development within the system, in active respond to the carbon peak and carbon neutrality strategy of the country. Lenovo is the first domestic high-tech manufacturer to pass the Science Based Targets initiative (SBTi) net-zero target validation, its Wuhan manufacturing base obtained the ICT industry's first zero-carbon factory certificate, while its Tianjin industrial park completed a pilot project that met the ICT industry's zero-carbon factory standard. As the "National Green Factory", Levima Advanced Materials has improved self-sufficiency in terms of core raw materials in the photovoltaic industry, and landed its new biodegradable material PPC project. In addition, a number of portfolio companies of Legend Holdings have also helped to achieve the goal of carbon peak and carbon neutrality through green finance.

In addition, the public welfare program "Legend Star Entrepreneurial CEO Training Course" established by the company in 2008 has trained more than 1,000 innovative and entrepreneurial talents, and 50 of the enterprises founded by the trainees have been successfully listed and 73 have been selected as national specialized and innovative enterprises.

Grasping the opportunities of the times and working hard to make contributions to high-quality development

In 2023, Legend Holdings will continue to actively improve asset quality and solidify business fundamentals through substantive investment management and services. Focusing on the long-term development, it will improve the business to position it for steady growth. In the industrial incubations and investments segment, technological innovation remains a key area. While safeguarding against potential volatility in the capital markets, the company will be creative and strive to discover new values. At the same time, the company will also take a positive attitude and innovative approaches to further adjust its business portfolio, realize returns, and find new opportunities for strategic layout, especially in the field of science and technology innovation. Meanwhile, it will further optimize the organization development, increase the introduction of scientific and technological talents, and improve and enhance the human resource structure.

Despite the evolving international situation, China's long-term positive fundamentals will not change, and Legend Holdings' prospects are promising in deploying the country's major strategic initiatives. The company will closely follow the national strategy of achieving high-quality development driven by technological innovation, carry out "Industrial operations and technological innovation", and continue to fulfill the corporate social responsibility at a strategic level, advancing the ESG work in the system.

Mr. Ning Min, Chairman and Executive Director of Legend Holdings, said that in 2022, facing the great uncertainties and challenges brought about by global changes, Legend Holdings, while consolidating its business fundamentals, insisted on strengthening investments in science and technology innovation and promoting the development of real economy, to overcome difficulties with toughness and ride out the storm, further consolidating the foundation for long-term corporate development. 2023 is the opening year of the comprehensive implementation of the spirit of the 20th National Congress of the Chinese Communist Party. With the successful convening of the Central Economic Work Conference and the gradual emergence of the effects of various policies, China's economy once again is enjoying a broader space for development. Legend Holdings will work together to seize the opportunity, continue to give full play to the enthusiasm and creativity of all employees, adhere to innovation orientation, promote industrial upgrading, work hard, actively participate in the overall high-quality national development, and continuously contribute to the construction of Chinese path to modernization.


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

HTSC announces 2022 annual results, Proposes final dividend of RMB 0.45 per share

HONG KONG, Mar 31, 2023 – (ACN Newswire) – HTSC (stock code: 6886.HK ; "the Company"), a leading global financial services provider, is pleased to announce the Company's annual results for the year ended December 31, 2022.

— Revenue for the year was RMB 46.82 billion
— Profit attributable to shareholders amounted to RMB 11.05 billion
— Total equity attributable to shareholders of the Company grew 11.23% year-on-year to RMB 165.09 billion.
— The Company proposed a final dividend of RMB 0.45 per share

The wealth management business reported a revenue of RMB 23.48 billion and continued to account for the majority of the Company's total revenue of 50.15%. Revenues from the institutional services business and investment management business were RMB 8.13 billion and RMB 2.27 billion, accounting for 17.37% and 4.85%, respectively, of the Company's total.

The international business segment posted a record revenue of RMB 9.41 billion despite global economic challenges, growing by 19.28% year-on-year and accounting for 20.10% of the Company's total. During the year, the Company was ranked second as a sponsor amongst Chinese securities companies in Hong Kong by amount.

HTSC's US subsidiary AssetMark – a leading US turnkey asset management platform (TAMP), with total assets under management of USD 91.47 billion as of December 31, 2022, continued to provide a stable stream of revenue for the Company's international business. As of the end of the third quarter 2022, AssetMark's market share in the US TAMP industry was 11.2%, ranking third in the industry. In addition, Huatai International applied to establish a wholly-owned subsidiary in Singapore and received a "no-objection" letter from the China Securities Regulatory Commission (CSRC) in September 2022.

The trading volume of stocks and funds in 2022 amounted to RMB 38.76 trillion, as the Company retained the top spot in the industry. Equity and mixed mutual funds and non-money-market mutual funds sold by HTSC amounted to RMB 122.6 billion and RMB 136.7 billion, respectively, both ranking second in the securities industry. HTSC's fund advisory service platform had approximately 617,600 users, with the size of authorized assets reaching RMB 13.91 billion. As of the end of 2022, the balance of the margin financing and securities lending business was RMB 112.35 billion, maintaining a market share of 7.29%. "ZhangLe Wealth", HTSC's wealth management app, remained the top brokerage app in China with 9.27 million monthly active users in average.

In 2022, the Company completed 81 equity underwriting deals, with principal underwriting for equities amounting to RMB 155.37 billion, ranking fourth in the industry for both the number and volume of transactions. Principal underwriting for bonds amounted to RMB 980.40 billion, as the Company retained the third rank in the industry. The Company advised on nine M&A and restructuring projects that were approved by the CSRC, with a total transaction volume of RMB 165.07 billion, ranking second in the industry for both the number of approved transactions and total transaction volume.

The Company continued to advance its ESG initiatives, taking into consideration the needs of all stakeholders within HTSC's ecosystem. Last year, the Company received an A rating for ESG from MSCI for the second year in a row, ranking top among Chinese securities companies. In March 2022, the Company, through Huatai Foundation, launched two philanthropic funds totaling RMB 30 million to support rural revitalization and environmental conservation projects, making positive social impact by giving back to the community and promoting sustainable development.

For enquiries, please contact:
Citigate Dewe Rogerson
Benny Liu
Tel: +86 10 6567 5056
Linda Pui
Tel: +852 3103 0118
Email: HTSC@citigatedewerogerson.com


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

HTSC reports annual revenue of RMB 46.82 billion in 2022

HONG KONG, Mar 31, 2023 – (ACN Newswire) – HTSC (stock code: 6886.HK ; "the Company"), a leading global financial services provider, is pleased to announce the Company's annual results for the year ended December 31, 2022.

— Revenue for the year was RMB 46.82 billion
— Profit attributable to shareholders amounted to RMB 11.05 billion
— Total equity attributable to shareholders of the Company grew 11.23% year-on-year to RMB 165.09 billion.
— The Company proposed a final dividend of RMB 0.45 per share

The wealth management business reported a revenue of RMB 23.48 billion and continued to account for the majority of the Company's total revenue of 50.15%. Revenues from the institutional services business and investment management business were RMB 8.13 billion and RMB 2.27 billion, accounting for 17.37% and 4.85%, respectively, of the Company's total.

The international business segment posted a record revenue of RMB 9.41 billion despite global economic challenges, growing by 19.28% year-on-year and accounting for 20.10% of the Company's total. During the year, the Company was ranked second as a sponsor amongst Chinese securities companies in Hong Kong by amount.

HTSC's US subsidiary AssetMark – a leading US turnkey asset management platform (TAMP), with total assets under management of USD 91.47 billion as of December 31, 2022, continued to provide a stable stream of revenue for the Company's international business. As of the end of the third quarter 2022, AssetMark's market share in the US TAMP industry was 11.2%, ranking third in the industry. In addition, Huatai International applied to establish a wholly-owned subsidiary in Singapore and received a "no-objection" letter from the China Securities Regulatory Commission (CSRC) in September 2022.

The trading volume of stocks and funds in 2022 amounted to RMB 38.76 trillion, as the Company retained the top spot in the industry. Equity and mixed mutual funds and non-money-market mutual funds sold by HTSC amounted to RMB 122.6 billion and RMB 136.7 billion, respectively, both ranking second in the securities industry. HTSC's fund advisory service platform had approximately 617,600 users, with the size of authorized assets reaching RMB 13.91 billion. As of the end of 2022, the balance of the margin financing and securities lending business was RMB 112.35 billion, maintaining a market share of 7.29%. "ZhangLe Wealth", HTSC's wealth management app, remained the top brokerage app in China with 9.27 million monthly active users in average.

In 2022, the Company completed 81 equity underwriting deals, with principal underwriting for equities amounting to RMB 155.37 billion, ranking fourth in the industry for both the number and volume of transactions. Principal underwriting for bonds amounted to RMB 980.40 billion, as the Company retained the third rank in the industry. The Company advised on nine M&A and restructuring projects that were approved by the CSRC, with a total transaction volume of RMB 165.07 billion, ranking second in the industry for both the number of approved transactions and total transaction volume.

The Company continued to advance its ESG initiatives, taking into consideration the needs of all stakeholders within HTSC's ecosystem. Last year, the Company received an A rating for ESG from MSCI for the second year in a row, ranking top among Chinese securities companies. In March 2022, the Company, through Huatai Foundation, launched two philanthropic funds totaling RMB 30 million to support rural revitalization and environmental conservation projects, making positive social impact by giving back to the community and promoting sustainable development.

For enquiries, please contact:
Citigate Dewe Rogerson
Benny Liu
Tel: +86 10 6567 5056
Linda Pui
Tel: +852 3103 0118
Email: HTSC@citigatedewerogerson.com


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