TANAKA Starts Taking Orders for Gold Bonding Wires Using “RE Series” 100% Recycled Precious Metals

TOKYO, Aug 30, 2022 – (ACN Newswire) – TANAKA Kikinzoku Kogyo K.K. (Head office: Chiyoda-ku, Tokyo; Representative Director & CEO: Koichiro Tanaka), which operates the TANAKA Precious Metals manufacturing business, announced today that its subsidiary TANAKA Denshi Kogyo K.K. (Head office: Kanzaki-gun, Saga; Representative Director & President: Toshiya Yamamoto), which is engaged in the production of various types of bonding wires, will start taking orders for gold (Au) bonding wires manufactured using only "RE Series" 100% recycled precious metals. This is in addition to existing products which use raw materials that include gold directly produced from mines.

Gold bonding wires

A compound for plating solutions has already been launched as the first product to use the RE Series supplied by TANAKA Kikinzoku Kogyo as raw materials. As a secondary use, the RE Series is being expanded*1 to gold bonding wires manufactured by TANAKA Denshi Kogyo.

Boasting the world's highest market share*2, TANAKA Denshi Kogyo's gold bonding wires support the world's semiconductor industry. A stable worldwide supply of the RE Series is possible as it is being produced at four locations – Japan, Singapore, Malaysia, and China – and has obtained third-party verification.

TANAKA Precious Metals hopes to contribute toward the establishment of a sound material-cycle society and increased demand for sustainable materials and products by supplying the RE Series. In the future, TANAKA Precious Metals will further expand the business of recycling precious metals – which are natural resources with limited reserves – to the global level with the goal of achieving a stable supply.

About Gold (Au) Bonding Wires

Bonding wire is the metal wire that electrically connects semiconductor chips to external electrodes. They mainly use extremely fine wires (10+ microns thick) made from gold, silver, copper, and aluminum. In particular, bonding wires made using gold have better corrosion resistance, workability, connectivity, and chemical stability than those composed of other metals. Besides electronic products such as computers and mobile phones, semiconductors are also widely used in home appliances and vehicles. In addition, semiconductors are gaining greater attention as a critical component in electric vehicles and digital transformation, contributing to the realization of a carbon-neutral society.

About the RE Series

The RE Series is composed of materials refined only from recycled precious metals rather than from sources such as mined bullion. TANAKA Kikinzoku Kogyo has been operating a recycled precious metals business since it was established in 1885. By expanding its RE Series production line, it is working to supply products that use 100% recycled precious metal materials, starting in 2022.

In addition, TANAKA Kikinzoku Kogyo offers services using a comprehensive system of management within the Group, from product recovery to refining and remanufacturing into new products. Using advanced precious metal analysis technologies* developed through many years of research and development, it is able to accurately evaluate the rate of precious metal content in recovered materials, which is important for recycling.

*One measure of precious metal analysis capabilities is the status of Good Delivery Referee, an accreditation of the LBMA and LPPM, the most prestigious organizations in the field globally, which TANAKA Kikinzoku Group received as one of only five companies globally and the only company in Japan and the rest of Asia. The Group is also the first in Japan to acquire ISO/IEC 17025 accreditation for its analysis technologies for platinum, gold, silver, and palladium.

About TANAKA Denshi Kogyo bonding wires

TANAKA Denshi Kogyo has produced various types of bonding wire since it was founded more than 50 years ago, and today it boasts a leading share of the global market. After establishing its first overseas production base in Singapore in 1978, the company has constructed additional production bases in Malaysia, China, and Taiwan. It now supplies its wires to countries engaged in the production of semiconductors around the world.

Press release in PDF: https://www.acnnewswire.com/docs/files/20220830_EN.pdf

About TANAKA Precious Metals

Since its foundation in 1885, TANAKA Precious Metals has built a portfolio of products to support a diversified range of business uses focused on precious metals. TANAKA is a leader in Japan regarding the volumes of precious metals handled. Over the course of many years, TANAKA has not only manufactured and sold precious metal products for industry but also provided precious metals in such forms as jewelry and assets. As precious metals specialists, all Group companies in Japan and around the world collaborate and cooperate on manufacturing, sales, and technology development to offer a full range of products and services. With 5,225 employees, the Group's consolidated net sales for the fiscal year ending March 31, 2022, were 787.7 billion yen.*

*From the current consolidated fiscal year, the amounts of sales for some transactions are indicated as net values due to the application of the Accounting Standard for Revenue Recognition.

Global industrial business website
https://tanaka-preciousmetals.com/

Product inquiries
TANAKA Kikinzoku Kogyo K.K.
https://tanaka-preciousmetals.com/en/inquiries-on-industrial-products/

Press inquiries
TANAKA Holdings Co., Ltd.
https://tanaka-preciousmetals.com/en/inquiries-for-media/

*1 It is possible to continue placing orders for gold bonding wires manufactured using the conventional process.
*2 Source: SEMI Industry Research and Statistics/TECHCET, April 2020

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

TANAKA Starts Taking Orders for Gold Bonding Wires Using “RE Series” 100% Recycled Precious Metals

TOKYO, Aug 30, 2022 – (ACN Newswire) – TANAKA Kikinzoku Kogyo K.K. (Head office: Chiyoda-ku, Tokyo; Representative Director & CEO: Koichiro Tanaka), which operates the TANAKA Precious Metals manufacturing business, announced today that its subsidiary TANAKA Denshi Kogyo K.K. (Head office: Kanzaki-gun, Saga; Representative Director & President: Toshiya Yamamoto), which is engaged in the production of various types of bonding wires, will start taking orders for gold (Au) bonding wires manufactured using only “RE Series” 100% recycled precious metals. This is in addition to existing products which use raw materials that include gold directly produced from mines.

Boasting the world’s highest market share^*2, TANAKA Denshi Kogyo’s gold bonding wires support the world’s semiconductor industry. A stable worldwide supply of the RE Series is possible as it is being produced at four locations – Japan, Singapore, Malaysia, and China – and has obtained third-party verification.

TANAKA Precious Metals hopes to contribute toward the establishment of a sound material-cycle society and increased demand for sustainable materials and products by supplying the RE Series. In the future, TANAKA Precious Metals will further expand the business of recycling precious metals—which are natural resources with limited reserves—to the global level with the goal of achieving a stable supply.

■ About Gold (Au) Bonding Wires

Bonding wire is the metal wire that electrically connects semiconductor chips to external electrodes. They mainly use extremely fine wires (10+ microns thick) made from gold, silver, copper, and aluminum. In particular, bonding wires made using gold have better corrosion resistance, workability, connectivity, and chemical stability than those composed of other metals. Besides electronic products such as computers and mobile phones, semiconductors are also widely used in home appliances and vehicles. In addition, semiconductors are gaining greater attention as a critical component in electric vehicles and digital transformation, contributing to the realization of a carbon-neutral society.

■ About the RE Series

The RE Series is composed of materials refined only from recycled precious metals rather than from sources such as mined bullion. TANAKA Kikinzoku Kogyo has been operating a recycled precious metals business since it was established in 1885. By expanding its RE Series production line, it is working to supply products that use 100% recycled precious metal materials, starting in 2022.

In addition, TANAKA Kikinzoku Kogyo offers services using a comprehensive system of management within the Group, from product recovery to refining and remanufacturing into new products. Using advanced precious metal analysis technologies^* developed through many years of research and development, it is able to accurately evaluate the rate of precious metal content in recovered materials, which is important for recycling.

*One measure of precious metal analysis capabilities is the status of Good Delivery Referee, an accreditation of the LBMA and LPPM, the most prestigious organizations in the field globally, which TANAKA Kikinzoku Group received as one of only five companies globally and the only company in Japan and the rest of Asia. The Group is also the first in Japan to acquire ISO/IEC 17025 accreditation for its analysis technologies for platinum, gold, silver, and palladium.

■ About TANAKA Denshi Kogyo bonding wires

TANAKA Denshi Kogyo has produced various types of bonding wire since it was founded more than 50 years ago, and today it boasts a leading share of the global market. After establishing its first overseas production base in Singapore in 1978, the company has constructed additional production bases in Malaysia, China, and Taiwan. It now supplies its wires to countries engaged in the production of semiconductors around the world.

Press release in PDF: https://www.acnnewswire.com/docs/files/20220830_EN.pdf

■ About TANAKA Precious Metals

Since its foundation in 1885, TANAKA Precious Metals has built a portfolio of products to support a diversified range of business uses focused on precious metals. TANAKA is a leader in Japan regarding the volumes of precious metals handled. Over the course of many years, TANAKA has not only manufactured and sold precious metal products for industry but also provided precious metals in such forms as jewelry and assets. As precious metals specialists, all Group companies in Japan and around the world collaborate and cooperate on manufacturing, sales, and technology development to offer a full range of products and services. With 5,225 employees, the Group’s consolidated net sales for the fiscal year ending March 31, 2022, were 787.7 billion yen.*

*From the current consolidated fiscal year, the amounts of sales for some transactions are indicated as net values due to the application of the Accounting Standard for Revenue Recognition.

■ Global industrial business website
https://tanaka-preciousmetals.com/

■ Product inquiries
TANAKA Kikinzoku Kogyo K.K.
https://tanaka-preciousmetals.com/en/inquiries-on-industrial-products/

■ Press inquiries
TANAKA Holdings Co., Ltd.
https://tanaka-preciousmetals.com/en/inquiries-for-media/

*1 It is possible to continue placing orders for gold bonding wires manufactured using the conventional process.
*2 Source: SEMI Industry Research and Statistics/TECHCET, April 2020

Samaiden Group Posts 182% Jump in Full-Year Revenue

PETALING JAYA, Malaysia, Aug 30, 2022 – (ACN Newswire) – Samaiden Group Berhad, a renewable energy (RE) specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants today announced that for the fourth quarter ended 30 June 2022 (4Q FY2022), revenue increased 113.35% to RM53.68 million compared with RM25.16 million recorded in 4Q FY2021.

Group Managing Director of Samaiden, Ir. Chow Pui Hee

Samaiden registered profit before tax (PBT) of RM4.78 million for 4Q FY2022, which is an increase of 104.27% compared with RM2.34 million in 4Q FY2021 while profit after tax (PAT) recorded an increase of 95.43% to RM3.42 million compared with RM1.75 million in the corresponding quarter of the previous financial year.

For the full year ended 30 June 2022 (FY2022), Samaiden registered revenue of RM150.72 million, which is an increase of 182.0% compared with RM53.44 million recorded in FY2021. Samaiden recorded a 103.73% gain in PBT to RM16.40 million in FY2022 compared with RM8.05 million while PAT increased 101.52% to RM11.93 million in FY2022 compared with RM5.92 million in the corresponding period of the previous financial year.

EPCC services contributed more than 95% of Samaiden's total revenue for the year. Its other businesses are environmental consultancy and operation and maintenance.

Group Managing Director of Samaiden, Ir. Chow Pui Hee said, "Our performance for FY2022 can be largely attributed to the increase in the number of EPCC projects and the contract value of these projects. We will continue to seek opportunities to secure more EPCC projects given government initiatives in encouraging sustainable energy sources as well as private sector adoption of RE as part of their Environmental, Social and Governance (ESG) initiatives."

"These opportunities cover solar PV systems and also solar and non-solar power plants where we can leverage on our core competency and experience in providing end-to-end services. Beyond the domestic market, we are also seeking opportunities in Southeast Asia where ESG initiatives are also picking up. We announced in August 2022 to incorporate a joint venture company pursuant to the partnership with Aneka Jaringan Holdings Berhad to penetrate the RE market in Indonesia. This latest announcement is in addition to the setting up of a company in Vietnam in 2021 for potential solar projects."

"We are cautiously optimistic for FY2023 as we also look to expand our presence through collaborating with our major shareholder, Chudenko Corporation, for projects in Malaysia and the region that will be beneficial for both parties. We are also encouraged by the recent government announcement approving the allocation of 1,200 MW of solar power as well as a new option for businesses to procure RE through the virtual power purchase agreement, which will start in the fourth quarter of 2022 through a quota of 600MW."

Samaiden has an outstanding orderbook of RM358.0 million as of 30 June 2022 that will contribute positively to our financial performance over the next three years.

About Samaiden Group Berhad

Samaiden Group Berhad, through its subsidiary is a renewable energy (RE) specialist incorporated in 2013, principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants. Samaiden Group's other activities include the provision of RE and environmental consulting services, as well as operation and maintenance (O&M) services. For more information, visit samaiden.com.my.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Gotion High-tech Releases 2022 Interim Results

HONG KONG, Aug 26, 2022 – (ACN Newswire) – Gotion High-tech Co., Ltd. ("Gotion High-tech" or the "Company"; Stock Code: 002074.SZ) announced its interim results for the six months ended 30 June 2022 (the "Reporting Period"). During the Reporting Period, the Company achieved revenue of RMB8,638 million, representing a year-on-year growth of 143.24%, of which revenue from overseas regions (including Hong Kong, Macau and Taiwan) increased by 358.28% year-on-year to RMB772 million, and is expected to achieve its target of 100% growth in total revenue over the previous year in the future. Net profit attributable to shareholders of the listed company was RMB64.62 million, representing a year-on-year increase of 34.15%. The Company's net cash flow from operating activities was RMB91.6 million, representing a year-on-year increase of 6.38%.

During the Reporting Period, Gotion High-tech generated revenue mainly from power lithium battery, energy storage battery and power transmission and distribution equipment. Power lithium battery business maintained a solid growth trend, and achieved revenue of RMB6,609 million during the period, representing a year-on-year increase of 113.93%, and was the largest contributor to the Company's revenue. In particular, the energy storage battery business was disclosed for the first time in the financial report, achieving revenue of RMB1,279million during the period, accounting for 14.80% of the total revenue.

Revenue size doubled again and market share continued to increase

Gotion High-tech is a leading power battery company in the field of new energy vehicles in China, and is one of the first enterprises in China to engage in independent research and development, production and sales of lithium-ion batteries for new energy vehicles. Since the start of 2022, China further emphasized its support for the accelerated development of new energy industry as a strategic emerging industry. Against this backdrop, Gotion High-tech continued to expand its production capacity, strengthened its technological advantages, further deepened its market cooperation and steadily accelerated the implementation of its international strategy. Driven by multiple factors, the Company achieved revenue of RMB8,638 million in the first half of the year, up 143.24% year-on-year, registering triple-digit growth; of which, revenue from overseas regions was RMB772million, up 358.28% year-on-year, showing rapid expansion. It is expected to reach the target of RMB20 billion in total revenue by the end of the year. The Company is expected to achieve its target of 100% growth in total revenue over the previous year by the end of the year.

According to SNE Research, in the first half of the year, Gotion High-tech has battery installed capacity of 5.8 GWh, with a market share of 2.9%, up 1 percentage point from the same period of last year, ranking 8th in the world. In terms of the number of installed units, the capacity coverage and global delivery capability continued to improve. For customer structure, passenger car customers improved significantly with increase in overseas and mid-to-high-end customers, leading to continuous improvement of customer structure. According to CBEA, in the first half of the year, the Company recorded 228 thousand units for EV battery installed passenger vehicle in China, accounting for a market share of approximately 9.7%, and ranked among the top 3 in China; and recorded over 250 thousand units for EV battery installed passenger vehicle in the world, accounting for a market share of approximately 5.9%, and ranked 5th in the global market.

Research and development capability continued to strengthen to create "long-life batteries"

In its main business of power battery and energy storage battery, Gotion High-tech has strong R&D capability, especially in the chemical composition of battery and battery cell, which are crucial to the electric vehicle market. In the process of building the layout of the whole industrial chain, the Company persists in independent R&D and innovation based on the requirements of its development strategy, introduces high-end technical talents and cooperates with universities and colleges, so as to build a high-standard, highly efficient and high-quality R&D model with multi-discipline and internal and external collaboration, thereby maintaining its technological advantages and ranking steadily among the top in the industry in terms of R&D capability. In the first half of 2022, Gotion High-tech's R&D expense amounted to RMB510 million, an increase of 104.97% year-on-year. The Company made early plan for lithium resources and strengthened its integrated layout. It has achieved remarkable results and made progress in the research of advanced technologies such as low-temperature electrolyte technology for lithium iron, research and development of thermal insulation materials, anti-thermal runaway management in battery cells and semi-solid battery technology. At present, the Company has enabled the industrial application of full life-cycle anode lithium-ion compensation technology in the field of energy storage, increasing the life of lithium-ion batteries to 12,000 cycles and becoming an industry model of low-cost, high-safety and long-life lithium batteries.

At the 11th Gotion High-tech Technology Conference held during the year, the Company unveiled two new products, namely the 360Wh/kg semi-solid battery and the Yijiadian intelligent mobile energy storage charging pile. In particular, the 360Wh/kg semi-solid battery is capable of passing the 180 Degrees Celsius 30min hot box test and the needle penetration test, which are higher than the national standard, and is expected to be installed in vehicles this year. In addition, Gotion High-tech has developed a prototype for the 400Wh/Kg ternary semi-solid battery in its laboratory. In the future, the Company will make technological innovation to iterate silicon-based negative electrodes, lithium metal negative electrodes and pre-lithium technology to accelerate the transition from liquid to semi-solid batteries and eventually develop full solid state battery.

As of the end of the Reporting Period, Gotion High-tech applied for 5,687 patents and obtained 3,835 patents, including 1,016 invention patents, covering the whole battery industry chain. The Company has also published 255 research papers, 23 articles in SCI, 147 articles in core publications and 109 software copyright registrations, covering the entire life cycle of lithium batteries.

Steady acceleration of internationalization strategy and continuous construction of the whole industry chain layout

In the first half of the year, the Company continued to increase its efforts in overseas expansion, of which, revenue from overseas regions was RMB772million, up 358.28% year-on-year with the successful opening of the Gottingen plant in Europe and the steady progress of construction plans for power batteries and supporting industrial bases in North America, Southeast Asia, South Asia and other overseas markets. It also proposed to establish a new generation power battery production line to form an integrated supporting system for international research, production, supply and sales. On June 24, President Fernandez of Argentina met with Li Zhen, our chairman, and the Company reached a consensus on cooperation with the Jujuy National Energy and Mining Company on the construction of battery-grade lithium carbonate production line, etc. On July 28, Gotion High-tech was successfully listed on the SIX Swiss Exchange AG as the first batch of GDR-listed enterprises under the China-Swiss Stock Connect, and with a total fundraising size of US$685 million, it became the largest project of equity financing in the Swiss capital market since the beginning of this year, which fully accelerated the Company's strategic progress of international development.

The Company continued to optimize the construction of the whole industry chain system and accelerated the implementation of resource projects, and the layout of upstream materials has covered most of the raw materials for lithium battery production. It also developed its materials business in Lujiang of Anhui, Feidong of Anhui, Yichun of Jiangxi, Wuhai of Inner Mongolia and Jujuy of Argentina, with five major materials bases starting to take shape.

Making good progress in commencement of production of power battery projects

During the Reporting Period, Gotion High-tech's Nanjing New Energy Intelligent Manufacturing 20GWh Power Battery Project officially commenced production, Yichun Gotion 10GWh Power Battery Project was completed and put into production, and Gotion Kehong High-end Positive Electrode Material Project with an annual capacity of 200,000 tonnes was put into production. The successful commencement of production of these projects will further enhance the level of industrialization and significantly contribute to achieving the production capacity target of 100GWh by the end of the year.

In the first half of this year, the Company also entered into a Procurement Fixed-point Agreement with Volkswagen and became its first supplier for standard battery cells. With the deepening cooperation with Volkswagen, Gotion High-tech has accelerated its expansion plan in the European market. Recently, the Gottingen plant in Germany, which is wholly owned by Gotion High-tech, has started renovation and is expected to start production of the first phase of power battery capacity in 2023. This will bring localized and low-cost battery options to European car manufacturers, helping the Company quickly tap into the European vehicle battery market and facilitating the achievement of Europe's target of carbon peaking and carbon neutrality. UBS expects Volkswagen to become the Company's largest customer by 2025.

In the future, by adhering to the mission of "To Make Green Energy Accessible and Sustainable" and the vision of "Focus on Technology-driven Development and Become the Leader of Global Energy Storage Industry", the Company will expand its production capacity through global development, vertically integrate the industry chain, overcome technological and quality bottlenecks, improve operational efficiency, enhance management effectiveness and build a global platform to achieve a 300GWh production capacity by 2025.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Pertamina’s rank in Fortune’s Global 500 jumps 64 spots

JAKARTA, Aug 11, 2022 – (ACN Newswire) – Indonesian state-owned oil and gas company PT Pertamina has succeeded in re-establishing itself and made it to the 2022 Fortune Global 500 list, thereby being the only Indonesian company to be included on the list.

The building of PT Pertamina. (ANTARA/HO-PT Pertamina)

Pertamina is ranked 223rd on the list, climbing 64 places as compared to the 287th position in 2021, according to a release issued by the company on Wednesday.

In 2022, the Fortune Global 500 list places 30 world oil and gas companies in the Petroleum Refining category. Pertamina was ranked 21st, which is above Japanese petroleum company Idemitsu and Spanish multinational energy company Repsol.

State-Owned Enterprises (SOE) Minister Erick Thohir lauded Pertamina's success in re-entering the Fortune Global 500 list, with a significant improvement in ranking.

Thohir said that Pertamina's ranking is testament to the fact that Indonesia's SOEs can compete with global companies.

"I highly laud the directors, commissioners, and all Pertamina personnel, who have worked hard in increasing the company's competitiveness in the international arena," he stated in Jakarta on Monday (August 8).

Thohir pointed out that Pertamina's success demonstrates that SOEs are not only able to survive in the face of a pandemic but can also improve performance by making various improvements.

According to the minister, Pertamina's achievements cannot be separated from the transformation and restructuring measures undertaken through the formation of holdings and subholdings of the company.

"Transformation through its holdings and subholdings makes Pertamina's operations more effective and efficient because it focuses more on the core business. This is in line with our target that Pertamina must become a global energy champion company and have a valuation of US$100 billion," he remarked.

Thohir further expressed optimism that Pertamina's achievements would inspire other SOEs to perform better.

He also expressed confidence that other Indonesian SOEs can take a cue from Pertamina by optimally implementing necessary transformation, core values, and improvement.

"The better the performance of Indonesian SOEs, more significant will be the impact on the community, let alone until being recognized at the global level. Positive performance will certainly provide a large space for SOEs to contribute more in increasing national economic growth, maintaining market balance, as well as populist economic programs," Thohir remarked.

In line with the SOE minister's remarks, Pertamina CEO Nicke Widyawati said the company's efforts to boost competitiveness were unhindered by the pandemic, and even in the midst of severe challenges, Pertamina's financial performance soared sharply in 2021.

According to Widyawati, Pertamina's performance has helped it climb the rankings in the Fortune Global 500 list in 2022.

"Pertamina has succeeded in increasing the company's revenue and net profit twice as compared to the previous year. This is an extraordinary achievement in the midst of global challenges and a pandemic that has not ended," she affirmed.

She noted that Pertamina ranked fifth on the Fortune Global list for the Southeast Asian region. Moreover, in Asia, Pertamina was ranked 105th out of the 227 companies.

"Pertamina is also ranked 12th out of the 24 companies led by female CEOs and the only company in the Petroleum Refining category led by a female CEO," she pointed out.

Apart from making it to the 2022 Fortune Global 500 list, in September 2021, Pertamina also received an Environmental, Social, and Governance (ESG) Risk Rating of 28.1 or was assessed to be at Medium risk.

Such a global assessment has placed Pertamina in the 15th rank out of 252 oil and gas companies around the world, and at the 8th rank in the integrated oil and gas sub-industry.

"This is global acknowledgment of Pertamina's commitment and efforts to lead energy transition and decarbonization to support Indonesia's target of net zero emissions in 2060 as well as the achievement of the potential of renewable resources in Indonesia in the context of sustainable growth," Widyawati explained.

In 2021, Pertamina successfully completed its business transformation by establishing six oil and gas subholdings: Upstream Subholding, Refining and Petrochemical Subholding, Commercial and Trading Subholding, Gas Subholding, Integrated Marine Logistics Subholding, and New and Renewable Energy Subholding.

Widyawati emphasized that transformation is a strategic step to adapt to future business changes. Hence, the company should move ahead in a more agile and swifter manner as well as focus on broader and aggressive business development.

"The transformation will continue to encourage Pertamina to become a world-class energy company. With the support of all stakeholders, Pertamina will fulfill the aspirations of shareholders to realize the target of ranking among the 100 world-leading companies," she affirmed.

In 2021, Pertamina had clocked a revenue of US$57.51 billion, an increase as compared to its revenue of US$41.47 billion in 2020.

Pertamina's net profit in 2021 had reached US$2.045 billion, which is almost twice as high as the 2020 net profit of US$1.05 billion.

Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)
M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com
Written by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Pacific Green Successfully Executes Its Transition to Renewable Energy Recurring Income Model and Announces Its Annual Report for Year Ending March 31, 2022

DOVER, DE, Aug 11, 2022 – (ACN Newswire) – Pacific Green Technologies, Inc. (the "Company" or "Pacific Green", (OTCQB:PGTK)) announces that it has successfully completed its first milestone in the process of diversifying and regularizing its income streams. Pacific Green is transitioning from a single technology equipment provider in the marine sector to an asset-driven "build-own-operate" renewable energy and battery energy storage system ("BESS") development company, led by the financial close in June 2022 of its first 99.98 MW project at Richborough Energy Park, as part of Pacific Green's 1.1 GW pipeline of BESS developments in the UK. In summary:

– Successfully executed transition to renewable energy company with recurring income model from self-developed energy assets
– FY22 results impacted by COVID related slowdown to marine business
– 99.98 MW Richborough Battery Energy Park asset in construction, with projected commercial operations via the National Grid in June 2023
– Financial restatement reflects change in timing of milestone recognition. No impact on cash flows.

As part of this transition, along with tighter fuel spreads and COVID-19 pandemic logistical issues for the Company's clients and suppliers in the marine sector, revenues have been reduced for the year ending March 31, 2022 to $15.44 million (FY21 revenue: $52.62 million) with a net loss for the year of US$10.75 million (FY21 net loss: US$1.81 million).

Within the stated losses includes a one-off, non-cash write-down of combined goodwill and intangible assets, totaling US$7.06 million against Chinese subsidiary Pacific Green Technologies (Shanghai) Co. Ltd. (formally Shanghai Engin Digital Technology Co. Ltd.) and Pacific Green Innoergy Technologies Ltd., acquired in 2019 and 2020, respectively.

The restatement of past financials noted in the Company's year end filing reflects a change in the accounting treatment of the timing of revenue and expense recognition only, with no impact to cash flows, balances or the Company's ability to undertake business development in the energy storage sector.

Over the past six months, the spread between high-sulphur and low-sulphur fuel oils has rebounded to exceed US$200 per ton. Pacific Green has witnessed a significant increase in new enquiries for its emissions control systems, commonly known as "scrubbers", leading to further sales of the Company's technology in the past months.

The Company has built out its BESS division, recruiting a world-class team of experts to create an industry leading platform to deliver its 1.1 GW pipeline in the UK and is now looking to expand the platform geographically.

Pacific Green has invested in its first 99.98 MW BESS project at Richborough Energy Park in the UK, supported by the Company's 50% project equity partner, Green Power Reserves Limited, senior debt provided by Close Leasing Limited and energy optimization by Shell Energy Europe Limited. The development, Richborough Energy Park Limited, is currently in construction, with projected commercial operations commencing in June 2023.

During this period, the Company has funded the deposit to secure its second BESS development of 249 MW in the UK as part of the 1.1 GW pipeline.

About Pacific Green Technologies, Inc.

Pacific Green Technologies, Inc. is focused on addressing the world's need for cleaner and more sustainable energy. The Company offers Battery Energy Storage Systems and Concentrated Solar Power energy solutions to compliment its marine environmental technologies division. For more information, visit Pacific Green's website: www.pacificgreentechnologies.com

Notice Regarding Forward-Looking Statements:

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the construction of the 99.98 MW BESS the Company is to develop in Kent; and any potential business developments in the UK and future interest in the Company's battery, solar and emissions control technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the construction of the 99.98 MW BESS, the sales of retrofit emissions control technologies and the ongoing impact of the COVID-19 pandemic. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in the Company's annual report on Form 10-K for the most recent fiscal year, the Company's quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

SOURCE: Pacific Green Technologies, Inc.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

New Power to Legend Capital Carbon Neutral Investment Portfolio: Ruicycle Raises Over RMB 300 Million from Series B

HONG KONG, Aug 8, 2022 – (ACN Newswire) – Shenzhen Ruicycle Environmental Protection Technology Co., Ltd (also known as Hengchuang Ruineng), a battery recycling company, recently accomplished the B round of fundraising with over RMB 300 million, which is backed by Legend Capital. This round of fundraising will be mainly used to improve the development of the echelon utilized product series, the construction of new energy retired lithium battery recycling capacity, and the expansion of new lithium battery wet recycling technology.

Founded in 2017, Ruicycle is a national high-tech enterprise dedicated to "Making New Energy a Truly Green Energy", deeply engaging in the field of recycling and comprehensive utilization of retired power batteries. It is committed to pursuing the concept of green and low-carbon development. Directing at the end of the new energy industry, Ruicycle has built an industrial ecological closed loop of large-scale automatic safe crushing, zero-pollution treatment, and high-efficiency recycling of lithium batteries based on the core technologies of lithium battery echelon utilization, material regeneration, and new material regeneration. Meanwhile, centering on the national carbon peaking and carbon neutrality policies, Ruicycle has achieved the traceability of carbon footprint and the quantification of carbon reduction, continuously making contributions to low-carbon development for the new energy industrial chain.

In 2020, Ruicycle was granted the qualifications of "Echelon Utilization White List" and "Recycling Utilization White List", becoming the fully licensed enterprise in the lithium battery recycling industry. Ruicycles revenue exceeded RMB 1 billion with a CAGR of over 100% in 2021. Now it has been recognized as the first echelon enterprise in China's power battery recycling and comprehensive utilization industry.

Ruicycle is the world-first company devoting intelligent management of temperature-sensing cameras to the retired battery storage field. It has established industrial bases for echelon utilization and recycling in Huizhou, Jiangmen, and Ganzhou, respectively, achieving a recycling capacity of 150,000 tons per year of retired power batteries. At the same time, Ruicycle has also been cooperating with Legend Capital's portfolio company Milkyway, a leading dangerous chemicals logistics enterprise, to build a global leading ESG recycling system.

CHEN Zhipeng, the founder of Ruicycle, said: "We are a relatively young team. In keeping with the trend of the new energy era, we are eager to learn more from industry predecessors to root in the physical manufacturing industry more deeply. At the same time, we look forward to having more aspiring youngsters join us to create an efficient organization and together make contributions to the globalization of new energy industrialization experience.

Legend Capital's investments in the carbon-neutral field focus on energy decarbonization, vehicle electrification/intelligence, synthetic biology, etc. Energy decarbonization includes photovoltaic, wind power, and smart grid; vehicle electrification/intelligence includes lithium battery vehicles, hydrogen fuel cell vehicles, battery recycling and others.

Legend Capital has long been optimistic about investment opportunities in the new energy vehicle industry chain and has invested in a number of automation equipment, lithium batteries, and materials companies, many of which went public successfully, such as Wuxi Lead Intelligent Equipment (300450.SZ), CNGR Advanced Material (300919.SZ), Shanghai Putailai New Energy Technology (603659.SH), Shenzhen Hymson Laser Intelligent Equipments (688559.SH), Shenzhen Colibri Technologies (002957.SZ). At the same time, Legend Capital is also one of the early investors of CATL (300750.SZ).

About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital ( https://www.linkedin.com/company/legend-capital ).

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Aneka Jaringan and Samaiden Join Forces to Tap Solar PV Potential in Indonesia

KUALA LUMPUR, Aug 2, 2022 – (ACN Newswire) – Aneka Jaringan Holdings Berhad and Samaiden Group Berhad has entered into a joint venture (JV) agreement today, which will create new revenue streams for both companies via engineering, procurement, construction & commissioning (EPCC) of solar photovoltaic (PV) systems and power plants in Indonesia.

Aneka Jaringan's Managing Director, Pang Tse Fui and Samaiden's Group Managing Director Ir. Chow Pui Hee [L-R]

This JV provides Samaiden access to the Indonesian market and allows Aneka Jaringan which already has a presence in Indonesia via its subsidiary, PT Aneka Jaringan Indonesia, to add to its value chain in a fast-growing segment.

Indonesia's renewable energy (RE) sector holds promising potential. As Southeast Asia's largest economy and with an increasing energy demand due to its rapid development, it accounts for 40% of the energy consumption in this region. As committed to the Paris Agreement, Indonesia wants to achieve net-zero emissions by 2060 or sooner. It has pledged to reduce its national carbon dioxide emission by 29% within the next decade and committed to scaling up clean power and transitioning away from coal. In line with this, Indonesia targets to have 23% of the national energy source to be RE by 2025 from the current 12%.

The country's Ministry of Investment has highlighted that Indonesia has 97 RE projects in the pipeline worth USD12 billion. With efforts underway by Indonesia to remove entry barriers for renewables, the prospects are attractive for the RE sector, in particular solar PV systems, a clean energy technology that can be deployed rapidly in the sunshine-rich country.

The JV puts both companies in a strategic position to capitalise on the opportunities presented by Indonesia's commitment to RE. In addition to EPCC of solar PV, the JV will provide RE and environmental consulting services, operations and maintenance (O&M) services and built-own-operate-tranfer RE facilities.

A JV company with a proposed authorised capital of IDR10.1 billion (RM3.03 million/USD0.71 million) will be incorporated in Indonesia for this purpose. The incorporation of the new JV company is scheduled to be completed by the end of August 2022 in Jakarta.

Aneka Jaringan together with its subsidiary, PT Aneka and Samaiden will hold 45% and 50% stake respectively in the JV company. The remainder shall be subscribed by Aneka Jaringan's business partner based in Indonesia.

Commenting on the JV, Aneka Jaringan's Managing Director, Mr Pang Tse Fui said, "This JV is in line with our growth strategy of expanding our operations in Indonesia and increasing our revenue streams. Our new Jakarta office is nearing completion, ready to welcome a new JV company and this will enable them to hit the ground running to tap into Indonesia's 400,000 megawatt (MW) solar power potential. We are pleased to partner with Samaiden via this JV company which is expected to strengthen Aneka Jaringan's value chain and business resilience while contributing to Indonesia's carbon neutrality goal."

Ir. Chow Pui Hee, the Group Managing Director of Samaiden echoed these sentiments. "Indonesia presents great potential in an area of Samaiden's expertise – RE, in particular solar PV systems. We perceive Aneka Jaringan through its Indonesian subsidiary, as a perfect partner who has the local knowledge, network and experience that can expedite and support our geographical expansion. With over 200 completed projects under our belt, we are committed to provide our best solutions to support Indonesia's net-zero ambition."

Samaiden is an RE award-winning company listed on the ACE Market of Bursa Malaysia Securities Berhad. It has a proven track record in Large Scale Solar (LSS) projects, winning the ASEAN Energy Award 2017.

Aneka Jaringan is also listed on the ACE Market of Bursa Securities and has over two decades of experience in basement and foundation construction. Its subsidiary, PT Aneka, based in Jakarta, is the first regional office of Aneka Jaringan Group, and has proven steadfast growth since its establishment in 2014.

Aneka Jaringan Holdings Berhad: 226 [BURSA: ANEKA], http://www.anekajaringan.com/
Samaiden Group Berhad: 223 [BURSA: SAMAIDEN], https://samaiden.com.my/

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China-Euro Stock Connect Launch to a Flying Start, Gotion High-Tech GDR is officially listed on the SIX Swiss Exchange

HONG KONG, Aug 1, 2022 – (ACN Newswire) – At 9:00 p.m. on July 28, Beijing time and 3:00 p.m. on July 28, Swiss time, Gotion High-Tech's GDRs were successfully listed on the SIX Swiss Exchange with the sound of six crisp bells. The Chinese Ambassador to Switzerland, Wang Shiting, Swiss SIX Group Executive Board of Directors and head of the Global Exchange Tom Zeeb, and deputy general manager of the Shenzhen Stock Exchange, Tang Rui, delivered a speech and witnessed.

Mr. LI Chen, Vice President and Secretary of the Strategic Capital Section of International Business Section, and Mr. PAN Wang rang the bell on behalf of the Company at the SZSE and SZSE simultaneously.

President of Engineering R&D Institute

Mr. WANG Qisui, President of China Business Section

On 7.28, the listing ceremony of the first batch of GDRs for the China-Switzerland Stock Connect was held simultaneously on the SIX Swiss Exchange, the Shenzhen Stock Exchange and the Shanghai Stock Exchange. The listed companies by issuing GDRs at the SIX Swiss Exchang include Gotion High-Tech, GEM, Shanshan and Keda Manufacturing. Among them, Gotion High-Tech is the company with the largest GDR basic issuance scale at the Swiss Stock Exchange since the implementation of the China-Euro Connect and is the only Chinese company providing new energy solutions including electric vehicle (EV) batteries and energy storage systems (ESS) batteries that have been successfully listed in Switzerland so far. Mr. CAI Yi, Senior Vice President of Gotion High-Tech and President of ITRI, and Mr. WANG Qisui, President of China Business Section, delivered speeches on behalf of the Company at the SSE and SZSE respectively.

Mr. CAI Yi stated in his full English speech that the successful listing of Gotion High-Tech's GDRs is a milestone in the Company's internationalization process. We will continue to expand our production capacity around the world, continue to invest in research and development to ensure our leading position in battery technology, continue to maximize shareholder value, continue to contribute to society and support the families of our employees around the world.

In his speech, Mr. WANG Qisui said that the development of Gotion High-Tech is inseparable from the support of the government, the progress of Gotion High-Tech is inseparable from the opportunities of the industry, the growth of Gotion High-Tech is inseparable from its own efforts, and the future of Gotion High-Tech is inseparable from its compliance with international rules. "The successful issuance of our GDRs represents the recognition of the industry by domestic and foreign investors, and the recognition of Gotion High-tech not only shows the determination of the Chinese government to support the development of the new energy industry but also shows the confidence of Chinese enterprises to enter the international markets. It refreshes the world's understanding of the energy revolution."

According to information from the Shenzhen Stock Exchange, with the approval of the China Securities Regulatory Commission, Gotion High-Tech has been listed at the Swiss Stock Exchange on July 28. It is the project with the largest issuance scale and the smallest discount among the first batch of Swiss GDR issuance projects. The number of Gotion High-Tech's GDRs placed amounted to 22,833,400 shares, accounting for 6.4% of the total equity interest after the issuance of GDRs; the offer price was US$30.00 (the offer price represented a discount of 3.5% on the previous closing price), and the gross proceeds of the GDRs were about US$685 million. After the listing of Gotion High-Tech's GDRs, the market performance was stable. On the first day of listing, the closing price was US$30, which was the same as the offer price.

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Gotion High-tech: GDRs listing has been approved by China Securities Regulatory Commission

HONG KONG, Jul 24, 2022 – (ACN Newswire) – Gotion High-tech Co., Ltd. ("Gotion High-tech" or the "Company") announced on the evening of July 22 that the Company recently received the "Approval for Gotion High-tech Co., Ltd.'s initial public offering of Global Depositary Receipts and listing on the SIX Swiss Exchange AG" issued by the China Securities Regulatory Commission ("CSRC"). As approved by CSRC, the total number of A shares of the Company represented by the Global Depositary Receipts (hereinafter referred to as "GDRs") to be offered may not exceed 249,706,175. According to the conversion ratio determined by the Company, the total number of GDRs to be offered by the Company may not exceed 49,941,235. If the conversion ratio is adjusted, the number of GDRs issued can be adjusted accordingly. Following the completion of this offering, the Company can be listed on the SIX Swiss Exchange AG. The upper limit of the number of GDRs under the duration of the Company's GDRs is consistent with the actual size of the GDRs issuance. If the GDRs increases or decreases due to the Company's bonus policy, share split or merger, or adjustment of the conversion ratio, the upper limit of the number of GDRs shall be adjusted accordingly.

Gotion High-tech has disclosed for the first time on March 16 that the Company proposes to issue GDRs overseas and list on the SIX Swiss Exchange AG. The proceeds of GDRs raised will be mainly used to support the expansion of the Company's business, particularly to grow its overseas production capacity of battery products and raw materials through investment in fixed assets, acquisition of equity interests or other means, to increase the Company's international footprint.

As a world-leading and rapidly expanding provider of new energy solutions, Gotion High-tech has reached strategic cooperation with a number of international customers and signed product sales orders, and plans to increase the production capacity of EV batteries and supplementary components in overseas markets such as Europe, North America, and Asia. The Company believes that this GDRs issuance will help it to expand the global market share of its products, promote the diversification of shareholder structure, and continue to boost the steady development of the Company.

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