Mitsubishi Chemical:Has developed new electrolyte for Tesla. The solvents and solute are supplied from Shida Shenghua

HONG KONG, Sep 20, 2020 – (ACN Newswire) – A Mitsubishi Chemical (MTLHY) technical expert revealed that the important innovations of Tesla's new battery are the positive and negative electrodes and the new electrolyte. Mitsubishi Chemical has perfectly matched the electrolyte technology for the new battery. This electrolyte mainly uses new solutes and functional additives, which can greatly improve battery performance. The technical expert said that the solvent in the new electrolyte is still supplied by the Chinese company Shida Shenghua, and the amount of DMC in the solvent will be greatly increased. Beginning in 2017, Mitsubishi and Shida Shenghua have jointly developed a new type of solute. This product will soon be mass-produced, which can effectively increase battery cycle times and energy density.


Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Tiger Brokers adds ASX to its Online Trading & Mobile App

SINGAPORE, Sep 18, 2020 – (ACN Newswire) – Tiger Brokers, the NASDAQ-listed, Xiaomi-backed online brokerage focused on global trading across the world's top markets, announced the addition of the Australian Securities Exchange (ASX) to its mobile and online trading application, Tiger Trade. This brings the current number of exchanges available to regional investors to 6; the US, Hong Kong, China, Singapore, and Australia: the New York Stock Exchange (NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, Hong Kong Stock Exchange (HKEX), Singapore Stock Exchange (SGX), and since Monday, the ASX.





The addition of ASX to Tiger Trade's offering addresses regional investors' increasing appetite for equities, even during the current COVID-19 pandemic: Tiger Brokers witnessed a surge in account openings especially during June to August, with an increase of 43% y-o-y following the addition of SGX to the platform on June 8. With the ASX seeing an average daily on-market trading volume of AU$5.4 billion (S$5.36 billion) in July, up 21% y-o-y, it was natural that Tiger Brokers would want to provide access to ASX trading on its platform and to expand its offerings to potential ASX investors.

Mr Eng Thiam Choon, CEO of Tiger Brokers Singapore, said, "Tiger Brokers believes that technology is a strong enabler to providing convenient access for retail investors to meet their investing needs. The access to another popular stock exchange like the Australian Securities Exchange will allow investors to further diversify their investment portfolio."

Demand for Overseas Exchanges

The top 10 stocks traded on the Tiger Trade platform included Tesla, Alibaba, Apple and Netflix from US exchanges, Tencent and Alibaba from Hong Kong, rounded out by banking stocks, glove makers and Singapore Airlines (SIA) in Singapore. Across exchanges, the sectors most traded were ihealthcare, followed by the technology sector.

"Industries like healthcare and technology have seen tremendous interest from retail investors, and surging stock prices. Tiger Trade has also seen an increased number of transactions in these stocks. We are also seeing retail investors more comfortable using online trading platforms such as ours, similar to the financial industry as a whole, which is rapidly digitizing. With more people at home, the consumption of technology has risen, and Tiger Brokers is well placed to meet that rising trend," said Mr Eng.

Mr Wu Tianhua, CEO of Tiger Brokers, commented, "A major increase in new customers in Q2 2020 as well as a strong growth momentum in total client assets is indicative of the appeal of our service offerings to both retail and institutional clients. The improvement of these key business metrics showed strength in the business amidst the COVID-19 induced market volatility."

Tiger Brokers Singapore is able to tap the expertise and insight of its parent UPFintech Holdings (NASDAQ: TIGR) in helping drive fintech innovation in Singapore and Southeast Asia. UPFintech Holdings focus is on global Chinese investors. UPFintech's Q2 earnings shared positive momentum with revenue growth of 121.8% y-o-y to US$30.1 million, on trading volume of US$46.8 billion. Client assets hit a high of US$8.3 billion as of June 30, an increase of 132.9% from a year earlier. UPFintech led the rankings of underwriters among brokerages for US IPOs during H1 2020. Despite COVID-19, UPFintech assisted many firms in settling sizable orders, showing the group's capability to serve its 500+ institutional and corporate clients. Earlier this month, it received approval for five new Financial Industry Regulatory Authority, Inc. ("FINRA") licences in the United States.

The Tiger Trade mobile app is available for download at Apple App Store and Google Play store.
Apple App Store: https://apps.apple.com/sg/app/id1023600494
Google Play Store: https://play.google.com/store/apps/details?id=com.tigerbrokers.stock

For media enquiries, please contact:
PRecious Communications for Tiger Brokers (Singapore)
Email: Tiger@preciouscomms.com / media@tigerbrokers.com.sg
Phone: +65 9667 3157 or +65 9152 0086

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Tiger Brokers Singapore Adds ASX to its Online and Mobile Trading Apps, Addressing Demand from Investors

SINGAPORE, Sep 17, 2020 – (ACN Newswire) – Xiaomi-backed Tiger Brokers, a global online stock brokerage, has announced adding the Australian Securities Exchange (ASX) to its online and mobile trading app, Tiger Trade. This brings the current number of exchanges available to regional investors on Tiger Trade to 6, including the New York Stock Exchange (NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, Hong Kong Stock Exchange (HKEX), Singapore Stock Exchange (SGX), and now, the Australian Securities Exchange (ASX).





The addition of ASX to Tiger Trade's offering addresses an increasing appetite for investing even during the COVID-19 pandemic. Tiger Brokers witnessed a surge in account openings in 2020, and from June to August saw an increase of 43%, with the addition of SGX to the platform in June. With the ASX seeing an average daily volume of AU$5.4 billion (S$5.36 billion) in July, up 21% y-o-y, it was natural that Tiger Brokers would provide access on Tiger Trade, and expand its offering to potential ASX investors.

Mr Eng Thiam Choon, CEO of Tiger Brokers Singapore, said, "Tiger Brokers believes that technology is a strong enabler to providing convenient access for retail investors to meet their investing needs. The access to another popular stock exchange like the Australian Securities Exchange will allow investors to further diversify their investment portfolio."

Increasing demand for overseas exchanges

The top 10 stocks traded on the Tiger Trade platform included Tesla, Alibaba, Apple and Netflix from the US stock exchanges and Tencent and Alibaba from Hong Kong, with the rest being banking stocks, glove makers and Singapore Airlines (SIA) in Singapore. Of these, across all exchanges, the industries most traded were in healthcare, as well as in the technology sector.

"Given the COVID-19 phenomena, industries like healthcare and technology have seen strong interest from investors, and surging stock prices. As such, Tiger Trade has also seen an increased number of account openings, and transactions in these stocks as well. Also, we are seeing that retail investors are more comfortable using online trading platforms such as ours, similar to how the financial industry as a whole is digitizing. With more people staying at home due to the pandemic, the consumption of technology has risen. We are seeing more users open to using technology to meet their investment needs, and at Tiger Brokers, we are well placed to meet that rising need," Mr Eng shared further.

Mr Wu Tianhua, CEO of Tiger Brokers, commented, "A major increase in new customers in Q2 2020 as well as a strong growth momentum in total client assets is indicative of the appeal of our service offerings to both retail and institutional clients. The improvement of these key business metrics showed strength of the business amidst the COVID-19 induced market volatility." The increase in online brokerage preference also aligns with Accenture's data-driven analysis of COVID-19's impact on the digital behaviour of Singapore consumers. The report showed that the opportunity in Singapore's digital economy is worth at least half a billion US dollars per annum.

Tiger Brokers Singapore was able to tap the expertise and insight of parent UPFintech Holdings to help drive fintech innovation in Singapore and Southeast Asia. UPFintech's Q2 earnings showed y-o-y revenue growth of 121.8% to US$30.1 million, with trading volume reaching US$46.8 billion and client assets rising by 132.9% to a new high of US$8.3 billion (as of June 30). Amidst COVID-19, UPFintech assisted many firms by completing sizable orders, showing the group's capability to serve its 500+ institutional and corporate clients. UPFintech led the rankings among brokers for underwriting US IPOs during H1 2020, while receiving approval for five new Financial Industry Regulatory Authority, Inc. ("FINRA") licences in the US as well.

The Tiger Trade mobile application is available for download at the Apple App and Google Play store.
Apple App: https://apps.apple.com/sg/app/id1023600494
Google Play: https://play.google.com/store/apps/details?id=com.tigerbrokers.stock

For media enquiries, please contact:
PRecious Communications for Tiger Brokers (Singapore)
Email: Tiger@preciouscomms.com / media@tigerbrokers.com.sg
Phone: +65 9667 3157 or +65 9152 0086

About Tiger Brokers (Singapore) Pte Ltd.

Tiger Brokers Singapore Pte Ltd (Tiger Brokers Singapore) is a brokerage firm operating with a Capital Markets Services (CMS) Licence from the Monetary Authority of Singapore (MAS). Its trading platform, Tiger Trade, offers complimentary real-time stock quotes, 24/7 finance news updates, dedicated multilingual customer service during trading hours and similar trading opportunities to online users, such as Equities, Exchange-Traded Funds (ETFs), Futures, Stock Options, Warrants, and Callable Bull/Bear Contracts (CBBC). Both online and mobile app allow users to invest across multiple asset classes trading on the New York Stock Exchange (NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, Hong Kong Stock Exchange (HKEX), Singapore Stock Exchange (SGX), and now, the Australian Securities Exchange (ASX).

Tiger Brokers Singapore is the Singapore entity of UPFintech Holding Ltd, known as "Tiger Brokers" in Asia, a leading online brokerage firm focusing on global investors. Founded in 2014, Tiger Brokers became #1 in U.S. equity trading by volume among platforms catering to Chinese global investors in less than two years. The company was listed on NASDAQ under "TIGR" in 2019, and has offices in China, United States, Australia, New Zealand and Singapore. Tiger Brokers has over 743,300 customers worldwide, with total trading volume of more than US$46.8 billion (as of Q2 2020). The company is backed by well-known investors such as Xiaomi, as well as investment guru Jim Rogers. For more information, please visit https://www.tigerbrokers.com.sg.


Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JP Morgan, DBS and Others Recommend “Buy” Rating for Central China New Life as its Interim Results Exceed Market Expectations

HONG KONG, Sep 17, 2020 – (ACN Newswire) – Central China New Life Limited (stock code: 9983) recently released it interim results, which revealed substantial growth in net profit driven by the expansion of its business scale. Moreover, the ongoing growth of third-party properties under its management and rapid growth of the company's "Jianye+" platform have provided a sound foundation for further development of its business going forward. The strong performance which exceeded market expectation has subsequently earned "Buy" or "Overweight" ratings from various security houses, among which DBS has also significantly increased its target price, which was originally set at HK$10.40, to HK$12.56. Details are as follows:

Recommendation Target Price
DBS Buy HK$12.56 (Original Target: HK$10.40)
JP Morgan Overweight HK$13 (Maintain)
Haitong Outperform HK$15.9
CCBI Outperform HK$13.8 (Maintain)
BNP Paribas Buy HK$13.2
AMTD Buy HK$13.56
Guosheng Maintain Buy HK$14.3

Central China New Life's business consists of three major segments, namely, 1) property management and value-added services; 2) lifestyle services; and 3) commercial property management and consultation services. Despite the impact of the COVID-19 epidemic, the company's business growth has remained rapid. Furthermore, its income structure has been continuously optimized and its operating efficiency has been enhanced during the first half of 2020. During the period, the company's revenue increased by 56.1% to RMB1,061.2 million, as compared with the corresponding period of 2019. Profit attributable to shareholders of the company surged by 70.3% year-on-year to RMB183.8 million. Basic earnings per share amounted to RMB0.1870. To date, Bloomberg shows 11 out of 12 security houses covering Central China New Life give "buy" or equivalent ratings.

During the period, revenue from property management and value-added services jumped by 59.3% year-on-year to RMB843.8 million. The increase was mainly attributable to the growth in property management revenue resulting from an enlarged GFA under management. In addition, stronger business was seen in value-added services, such as sales agency and intelligent community which were able to generate greater revenue.

In the first half of 2020, the company implemented the "Large Regional Market Expansion" strategy. Correspondingly, its business focused on Henan and radiated to adjacent provinces. At the same time, it also expanded to include quality projects in other provinces in China, thereby steadily scaling upward its business. As at 30 June 2020, the GFA under management and contracted GFA reached 70.1 million sq. m. and 144.4 million sq. m. respectively, representing respective growth of 23.1% and 25.9% as compared with the end of 2019. During the period, new contracted GFA relating to Central China Real Estate increased by 16% H/H, while new contracted GFA from third parties increased by 41% H/H, which reflected the company's ability to obtain third-party contracts.

During the period, lifestyle services of Central China New Life have expanded rapidly and the coverage of the "Jianye+" platform has continued to grow. The company's revenue from lifestyle services grew by 51.6% year-on-year to RMB172.8 million. The upsurge was mainly attributable to the significant increase in registered users of its "Jianye+" platform, from approximately 1,547,700 as at the end of last year to approximately 2,805,500 as at the end of June this year, as well as a rise in consumption among registered users. The rapid growth of the "Jianye+" platform will provide further room for future development of the company's lifestyle services.

The company's commercial property management and consultation services consist of hotel management, commercial asset management and cultural tourism complex management. Revenue from this business segment has increased by 22.2% year-on-year to RMB44.6 million. The company's commercial property management business was launched in March 2019. Affected by the epidemic, the growth of cultural tourism businesses that are involved in such operations as hotels, tourism, commercial management and specially themed small towns have all faced relatively great pressure in general. Nevertheless, with the synergy achieved by leveraging the "Jianye+" platform, the company has still managed to develop new growth and profit drivers in this business segment.

Central China New Life will strengthen efforts to expand its property management business in the second half year by focusing on mergers and acquisitions. It will also focus on increasing investment in intelligent properties and integrating organizational management to reduce costs and increase efficiency. Since the company went public in May to raise funds, it has ample cash on hand, which will be conducive for executing its future merger and acquisition plans.



Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

The sole supplier of solvents and additives in Tesla’s new battery is Chinese company Shi Dashenghua

HONG KONG, Sep 17, 2020 – (ACN Newswire) – A Tesla battery expert said that a large amount of the solvent DMC dimethyl carbonate will be used in the electrolyte of the new battery produced by itself, and the addition ratio is as high as 70%, which is 6 times higher than before. At the same time, the new battery will use a variety of new electrolyte additives. The exclusive supplier of DMC and additives is a Chinese manufacturer named Shi Dashenghua.



Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

ADERA to Broaden and Deepen its Business Presence in Chongqing, China

SINGAPORE, Sep 15, 2020 – (ACN Newswire) – Adera Global Pte. Ltd. ("ADERA" or the "Company"), an innovative financial services technology group headquartered in Singapore with a track record of more than 35 years, is pleased to announce that it has entered into two Memorandum of Understandings ("MOU") and a letter of intent to broaden and deepen its business presence in Chongqing, China.

Highlights:

– Supported by major Chinese institutions in the banking and trade industries, the supply chain financing platform will utilise ADERA's blockchain solutions and it will be jointly developed together with two established Chinese partners, Chongqing JiangBeiZui CBD investment Group and CCIF Pte Ltd
– Greater economic collaboration will facilitate more trade between Singapore and Chongqing and the supply chain financing platform will enable enterprises in Singapore and Chongqing to digitalise and standardise their trade processes and invoices
– With enhanced accountability and transparency via the supply chain financing platform, it fosters greater trust and confidence between financing institutions and transacting parties, leading to lower risks to business transactions and faster access to financing
– The fintech and data centre established by ADERA will be located in Bishan, Chongqing and it will focus on the development of fintech solutions, artificial intelligence and secured data capabilities, among other new technology innovations
– ADERA will also be participating in SMART CHINA EXPO 2020, where the Company will showcase its latest fintech and digitalisation innovations in this Virtual Expo

The MOUs and letter of intent are part of the China-Singapore (Chongqing) Demonstration Project on Strategic Connectivity and it is the third intergovernmental cooperation project between China and Singapore which mainly covers four key areas of cooperation: financial services, aviation industry, transportation logistics and information, and communication.

Previously, such intergovernmental cooperation projects have effectively facilitated the origination and completion of several China-Singapore cooperation projects. In 2018, 16 cross-border financing projects under the China-Singapore Demonstration Initiative on Strategic Connectivity were followed through.

Strategic Collaborations with Established Chinese Private Enterprises and Government Agencies in Chongqing

Chongqing, in southwest China, is one of four municipalities directly controlled by the central government – the other three are Beijing, Shanghai, and Tianjin. Chongqing has posted double-digit economic growth for more than a decade and in 2019, Chongqing posted a GDP growth of 6.3% Y-o-Y to RMB 2,361 billion in 2019.

ADERA's first MOU and letter of intent relates to the development of the first supply chain financing platform for cross border trade activities between Singapore and Chongqing.

Utilising ADERA's blockchain solutions and technology capabilities, the supply chain financing platform will be jointly developed together with two established Chinese partners, Chongqing JiangBeiZui CBD investment Group, a state-owned enterprise, and CCIF Pte Ltd, a state-related business agency.

In addition, the supply chain financing platform has obtained the support from major Chinese institutions in the banking and trade industries that comprise of Bank of Chongqing, YuMaoTong Foreign Trade Service Platform and Chongqing Tianlian Citrus Network Technology Co. Ltd.

To facilitate a greater volume trade activities between Singapore and Chongqing and improve efficiency between business enterprises in both countries, the blockchain-based supply chain financing platform will integrate multiple e-invoicing standards in China to conform to the PEPPOL e-invoicing standard that is recognised internationally.

With enhanced accountability and transparency via the supply chain financing platform, it can foster greater trust and confidence between financing institutions and transacting parties, leading to lower risks to business transactions and faster access to financing.

The pilot supply chain financing platform is expected to be introduced by the end of 2020 and there is potential to replicate the platform across other key markets in China and connecting more business enterprises and transactions between China and Singapore.

The second MOU is signed between ADERA and Chongqing Bishan District Government to establish a fintech and data centre, spearheaded by ADERA, which will be located in Bishan, Chongqing. The fintech and data centre will focus on the development of fintech solutions, artificial intelligence, and secured data capabilities, amongst other new technology innovations.

Commenting on these milestones, Mr. Lennon Tan, Chairman of ADERA, said: "The MOUs and letter of intent reflect our strong commitment to serve the business communities in both Chongqing and Singapore with our technology innovations and deep industry experience.

Working together with our established MOU partners in Chongqing, we look forward to develop an enhanced ecosystem of trust that transcends geographical barriers and creates new value propositions that will benefit stakeholders.

Paving the way for the mainstream adoption for digitised supply chain documentation and data integration, we believe that our blockchain-based supply chain financing platform will lead to a higher volume of cross border trades and faster access to supply chain financing while lowering risks at the same time among transacting parties."

Mr. Lennon Tan, added, "Sharing a common vision of developing and commercialising new technology innovations with the district government in Bishan Chongqing, our fintech and data centre in Chongqing aims to be a gateway to enable more advanced technology applications to create a more inclusive community."

Showcasing ADERA's Latest Fintech and Digitalisation Innovations in SMART CHINA EXPO 2020

In addition, ADERA is participating in the SMART CHINA EXPO 2020, which is an annual gathering for international enterprises, industry leaders, scholars and experts, and government officials to share and explore the latest developments in the fields of smart technology, smart industry, smart manufacturing, and smart application.

Due to the COVID-19 pandemic, SMART CHINA EXPO 2020 has been transformed into a virtual platform and ADERA will be showcasing its latest fintech and digitalisation innovations in the following areas:

– Blockchain driven cross-border e-invoicing & supply chain platform
– Digital identity solutions enabling enrolment to verification
– Fintech transformation for banking institutions with workflow automation & intelligent kiosk
– Biometric contactless attendance and temperature-taking system with contact tracing
capabilities

About Adera Global Pte Ltd ("ADERA")

Serving global banks, financial institutions, telecommunications and government agencies around the world, ADERA is a financial services technology group headquartered in Singapore providing a platform of innovative fintech, digitalisation and data security solutions.

With an established track record of more than 35 years, ADERA aims to enable our customers to digitalise and enhance their business models to broaden access to new markets, improve end- users experience and develop greater business efficiency.

For more information, please visit ADERA website: https://aderaglobal.com

Issued on behalf of Adera Global Pte. Ltd. by 8PR Asia Pte Ltd.

Media Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Dynasty Announces Strategic Plan for New Brandy Products on its 40th Anniversary

HONG KONG, Sep 14, 2020 – (ACN Newswire) – To celebrate its 40th anniversary and mark a milestone for the Group, Dynasty Fine Wines Group Limited (Stock Code: 828), a premier winemaker in China, has hosted a press conference unveiling its strategic plan for its brandy business and the launch of 3 new brandy products. The introduction of new products not only enriches the product matrix and culture elements of Dynasty's brandy, but also enhances its overall brand positioning. The new products are expected to become new growth drivers for Dynasty's brandy business.





The three new products, namely Dynasty V.S.O.P. Brandy Aged 8 Years, Dynasty V.S.O.P. Brandy Aged 10 Years and Dynasty X.O. 18 Years Old Brandy, are priced at different levels in the market. These products are made with the traditional brandy winemaking technique of France and made from Ugni Blanc harvested in the plantation area in Tianjin. Besides, they are produced by adopting the world's most famous Charentais Distillation and matured in French Limousin oak brandy barrels. They feature rich aroma, elegant and refined, strong but not dry. The products have been widely recognised by the industry experts.

Dynasty has set 2019 as "a reform year in sales and marketing", thus implementing a series of new market strategies which encompassed 1) promoting two upgrades, namely product upgrade and brand upgrade, 2) forming the third-tier markets, namely the core market, key market and potential market and 3) taking the four management measures and 4) the marketing campaign that showcasing in 10,000 shops, hosting 1,000 wine tasting events and organizing 100 plant visits. In 2020, Dynasty further pushed forward its business reform and focused on the implementation of "5+4+N product strategy", among which "5" refers to the five key series of products namely, air dry series, seven-year reserve series, merlot series, classic series and best-selling series, to achieve the goal of full coverage for all mainstream price segments; "4" refers to the four advantageous categories i.e. dry red wines, dry white wines, brandy and sparkling wines, to vertically increase market share; and "N" refers to developing various customised products to meet the diverse needs of Chinese consumers.

To align with its "5+4+N product strategy", the Group launched a new high-end product, Dynasty Chinese Zodiac Commemorative Dry Red Wine for the Geng Zi Year of the Rat, which integrates the high quality with the Chinese zodiac culture and leads the rise of Chinese-style fashion products during the first half of the year. The Group also launched Dynasty Jiuxiang Rose Liqueur series early this year. Moreover, the second generation of Dynasty Merlot Dry Red Wine series, which is the blockbuster product of the Group, made its debut on the market in May, targeting business banquets. Meanwhile, the Group released Dynasty Seven-Year Reserve Dry Red Wine series, positioning the high-end market with national banquet quality. The current new brandy product strategic plan also plays a key role in the implementation of its "5+4+N product strategy".

Established in 1980, Dynasty was the second Sino-foreign joint venture in China and the first-of-the-kind in Tianjin, with Tianjin Food Group Co. Ltd. and Remy Cointreau, a grape wine and brandy leader from France, as its major shareholders. In 1982, Dynasty started making brandy with French winemaking techniques. Marrying world renowned techniques and Chinese style, the Group has produced premium products showcasing top technical and quality features. The new products that hit the market this time have fully reflected the Group's determination to expand in the brandy market.

Dynasty said that the Company believes its brand can attract more consumers with its effective product strategy and a quality and comprehensive product mix. Stepping into the 40th anniversary, it will stay true to its original ideals, taking quality as the top priority in operations, and continuing to produce more premium wines in China, so as to make Dynasty the synonymy of top Chinese wine. Looking ahead, the Company will continue to adjust its product strategy, enhance its sales and marketing reform, carry on the past successes while making new achievements, thus paving the way for building a century-old brand.



Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Xinyi Energy Places New Shares to Raise Approximately HK$893 Million, Introduces Renowned Institutional Investors China Life Insurance and Hillhouse Capital to Become Shareholders

HONG KONG, Sep 14, 2020 – (ACN Newswire) – Xinyi Energy Holdings Limited ("Xinyi Energy" or the "Group"; stock code: 03868), a leading solar farm operator in the PRC has today announced that the Group will issue and allot 357,520,000 Placing Shares at the placing price of HK$2.50 per share to China Life Insurance (Group) Co. ("China Life Insurance") and Hillhouse Capital Advisors, Ltd. ("Hillhouse Capital"). China International Capital Corporation Hong Kong Securities Limited ("CICC") is the sole placing agent for the Placing.

Pursuant to the Placing Agreement with CICC, China Life Insurance and Hillhouse Capital will subscribe for 125,020,000 Placing Shares and 232,500,000 Placing Shares respectively. The total number of 357,520,000 Placing Shares represent approximately 5.29% of the existing issued share capital and approximately 5.03% of the enlarged issued share capital of the Group. The placing price represents a discount of approximately 8% to the closing price of HK$2.72 per Xinyi Energy share on 11 September 2020, being the last trading day prior to signing of the Placing Agreement. The Placing is expected to be completed no later than 2 November 2020. After deducting all relevant costs and expenses, the net proceeds will be approximately HK$893.2 million which the Group intends to use for general working capital.

Mr. LEE Shing Put, B.B.S., Chairman and Executive Director of Xinyi Energy, said, "We are delighted to introduce renowned institutional investors, China Life Insurance and Hillhouse Capital, to join us as shareholders. Their investment serves as evidence of the investors' confidence in our business strategies and prospects. Xinyi Energy believes that the Placing will further expand our shareholder base and strengthen our financial position in order to get well prepared for future business development and deliver continuous and stable returns for shareholders."

About Xinyi Energy Holdings Limited (Stock Code: 03868)
Xinyi Energy, a leading solar farm operator in the PRC, mainly generates revenue from solar power electricity generation and sales of electricity to local subsidiaries of the State Grid, as well as receives management fees through the provision of operating and managing services of solar farms. All utility-scale solar farm projects owned by the Group are located in provinces with strong demand of electricity, such as Anhui Province, Hubei Province, Henan Province, Fujian Province and Tianjin Municipality, with no power curtailment problem ever in the past operating period. Currently, Xinyi Energy is owning a total of 16 solar farm projects with the aggregate approved capacity of 1,514 MW. Xinyi Energy intends to maintain a high dividend payout ratio. It's the Board's intention to declare and distribute not less than 90% of the distributable income for each financial year. Its controlling shareholder is Xinyi Solar Holdings Limited (stock code: 00968), which holds 52.7% of the Group's shares in issue as at 30 June 2020.

For details, please visit www.xinyienergy.com


Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HKTDC Export Index 3Q20: Exporter confidence rises for second consecutive quarter

HONG KONG, Sep 14, 2020 – (ACN Newswire) – The HKTDC Export Index has risen for the second consecutive quarter, indicating that exporter sentiment continues to improve. The Hong Kong Trade Development Council (HKTDC) announced the index for the third quarter of 2020 today with a reading of 25.1 – up 6.9 points from the previous quarter, and 9.1 points from the record low in the first quarter of this year. HKTDC Director of Research Nicholas Kwan noted that export indexes across all major industries remain in contractionary territory despite the recent rebound, stressing that times will remain tough for Hong Kong's exporters.



HKTDC Director of Research Nicholas Kwan (centre), Assistant Principal Economist (Greater China) Alice Tsang (L) and Economist Samantha Yim (R) announced in today's press conference that all HKTDC indexes rebounded in the third quarter of 2020.



As the initial shock of the Covid-19 pandemic begins to wane, the number of exporters having orders cancelled, payments deferred or logistics and distribution disrupted showed a significant drop compared with the previous quarter. Mr Kwan noted that 60.5% of respondents indicated that reduced orders from buyers was the biggest challenge they faced, up 3.5 percentage points from the second quarter of 2020. A number of exporters (23%, up 4.9 percentage points) said they had to downsize their companies and in some cases lay off workers.

"Fewer respondents (51.5%, down 13.1 percentage points) regarded the continuation of the pandemic as the biggest threat to their export performance over the next six months, with more of them concerned about softening global demand (21.5%, up 2.5 percentage points) and trade tensions between the United States and China (15%, up 4.2 percentage points)," Mr Kwan said.

Trade indexes pick up in third quarter

The HKTDC conducted its latest business confidence survey in August, interviewing 500 local traders from six major industry sectors including electronics, jewellery, timepieces, toys, clothing and machinery. The HKTDC Export Index reflects the prospects of the city's near-term export performance. Readings above and below 50 indicate an optimistic or pessimistic outlook respectively.

"Export indexes for all major sectors rose from their lowest readings in the first half of 2020, especially the machinery sector (29.0), toys (27.5) and electronics (25.3), followed by timepieces (21.6), clothing (21.0) and jewellery (20.1). Exporters' perception on the performance of major markets remained largely unchanged, with Japan (46.1) and Mainland China (42.9) regarded as the most promising markets for Hong Kong exports, followed by the United States (41.2), the Association of Southeast Asian Nations (ASEAN) bloc (41.0) and the European Union (36.0)," HKTDC Economist Samantha Yim said.

Ms Yim added that the Procurement Index, Offshore Trade Index and Trade Value Index all began to stabilise in the third quarter whereas the Employment Index dropped by 2.3 points to a four-year low of 39.8. "Compared with other industries, recruitment intentions in toys (38.0) and timepieces (35.6) were notably downbeat, suggesting the probability of headcount losses within these sectors."

Capturing new opportunities in the Greater Bay Area

As a highly open and internationalised city in the Guangdong-Hong Kong-Macao Greater Bay Area, as well as a hub for international finance, logistics and transportation, professional services, trade and aviation, Hong Kong plays an important role in the region under the "one country, two systems" principle. A recent survey showed that senior business executives generally recognise Hong Kong's advantages as an international business hub for the Greater Bay Area, including its robust legal regime, open business environment, free-market economy, robust infrastructure and transportation systems as well as its quality pool of international talent.

The survey was commissioned by the HKTDC and conducted by PricewaterhouseCoopers (PwC) to get detailed insights into Hong Kong's role in the Greater Bay Area. PwC conducted in-depth interviews and questionnaire surveys of close to 500 senior executives from the area to gauge their views on how six major industries, including financial services, logistics and transportation, trade services, manufacturing, legal and dispute resolution and innovation technology, can leverage Hong Kong's advantages in business operations. The consultancy firm also made suggestions on how to reinforce the city's position as an international business hub in the Greater Bay Area, assessing the potential opportunities and likely challenges.

The survey showed respondents as believing that the five trends most important to Hong Kong in the next five years are: increasing application of emerging technology; integration of Hong Kong with the Greater Bay Area, including capital connectivity; increasing cross-boundary transactions due to the Belt and Road Initiative; extending global value chains out of the Greater Bay Area; and industrial upgrading and transformation in the area.

Respondents believed that to further enhance Hong Kong's position as the international business hub for the Greater Bay Area, the five most important measures the city has to take are: facilitate the free flow of capital within the area; improve data privacy protection; improve the research and development (R&D) capability of Hong Kong by encouraging R&D activities and the adoption of emerging technologies; promote tax simplification/harmonisation in the Greater Bay Area; and promote regulatory transparency in the area.

New measures to enhance Hong Kong's key roles

HKTDC Assistant Principal Economist (Greater China) Alice Tsang said that, according to the findings of the PwC report, Hong Kong should implement a range of measures to reinforce the city's key roles as an international financial centre, legal and dispute resolution centre, logistics and transportation hub, trading centre, innovation and technology centre, and location for business headquarters.

"For the sake of the financial sector, Hong Kong should facilitate cross-border capital flow, take the lead in reforming its financial regulatory system and financial products and services, and develop sustainable and green finance," Ms Tsang said, citing the report. "In the area of professional services, those who have completed professional training programmes should be allowed to practise in specific areas within the Greater Bay Area. Hong Kong should also enhance its position as an international arbitration centre and establish itself as a protection base and trading platform for intellectual property in the area."

Ms Tsang added that to reinforce Hong Kong's position as a logistics, transportation and trading hub, the city should facilitate the flow of people and goods to and from other cities in the Greater Bay Area. "Hong Kong should also establish a unified product quality certification mechanism with other cities in the area for innovative services and products yet to gain international certification. This could reinforce the city's position as a centre for testing and certification," she said.

Suggestions were also made for capitalising on Hong Kong's advantages as an innovation and technology centre by supporting the industry's development, creating an ecosystem in which Greater Bay Area cities' relative advantages can complement each other and develop in concert, and attracting venture capital institutions to the city. Hong Kong should also extend preferential policies for setting up businesses in the city to further attract Greater Bay Area enterprises to expand their business. This would help to make Hong Kong more attractive as a location for business headquarters.

References
– HKTDC Research website: http://research.hktdc.com/
– Hong Kong Export Index 3Q20: Exporter Confidence Rallies Moderately While Spectre of Covid-19 Still Looms Large: https://bit.ly/2GKKiYx
– Hong Kong as the International Business Hub for the Greater Bay Area (Executive Summary): https://bit.ly/2Rm1ky9
– Photo download: https://bit.ly/3htY1Q4

About HKTDC

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

Contact:
Leslie Ng, Tel: +852 2584 4239, Email: leslie.ss.ng@hktdc.org Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org



Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Yan Zhi: Promote the Entrepreneurial Spirit in Global Expansion

SINGAPORE, Sep 11, 2020 – (ACN Newswire) – China's top executives from state-owned and private enterprises recently gathered for a press conference organised by China's State Council Information Office (SCIO) in Beijing to talk about entrepreneurship and the role of innovation in the development of enterprises. The event saw participation from among China's top business leaders including Ning Gaoning, Chairman of Sinochem; Liu Yonghao, Chairman of New Hope Group; Zhou Yuxian, Chairman of China National Building Materials Group; and Yan Zhi, Chairman of ZALL Group ("ZALL").



Yan Zhi, Chairman of ZALL Holdings Ltd (Photo credit: The State Council Information Office of China)



Yan Zhi, Chairman of ZALL shared, "I feel that it is very important, especially during this unprecedented crisis, such as the Covid-19 pandemic, to promote the entrepreneurial spirit which is a mindset that embraces the love for his or her hometown; social responsibility; positive attitude; and innovation. ZALL has managed to grow our footprint across the world underpinned by our values as we ride the wave of globalisation and innovation, and I envisaged this trend to continue."

As one of the first companies in China to operate traditional wholesale markets, logistics, and ports, ZALL has developed Asia's largest B2B offline-to-online trading ecosystem in China and Southeast Asia. Combining online platforms, offline marketplaces and supply chain networks, ZALL empowers customers, merchants and enterprises with access to more convenient, efficient and accurate services, from trading, logistics to property and finance.

"We are developing a new generation of global intelligent trading platform powered by the application of new advanced technologies, such as Artificial Intelligence, Blockchain, Big Data, and modern supply chain management that will become the driving force and catalyst for China's "dual-circulation" economy," added Mr Yan.

ZALL Smart Commerce Group., the global e-commerce entity under ZALL, recently reported that 2020 first half-year revenue grew by 3 per cent year-on-year to reach RMB 35.76 billion (USD 5.24 billion), and achieved net profit of RMB 281 million (USD 41.14 million), despite the impact of the Covid-19 pandemic. Revenues from supply chain management and trading business largely contributed to the Group's total turnover at around RMB 34.96 billion (USD 5.12 billion).

Commodities Intelligence Centre (CIC), Singapore's first physical commodity B2B e-trading platform powered by blockchain technology also saw revenues cross USD 1 billion in its 2020 first-half revenues, surpassing its entire 12 month revenues from 2019. As a joint venture between ZALL Smart Commerce Group Ltd., Singapore Exchange (SGX) and Global eTrade Services (GeTS), CIC offers a global intelligent trading platform to more than a dozen countries, helping companies to reduce transaction costs, optimise the efficiency of their supply chains across cross-border trading, financing, logistics, compliance and risk management; achieving greater trading synergies globally.

ZALL is also one of the nine bidders who made the shortlist for the Singapore wholesale digital banking license with only three licenses set to be awarded by end-2020. The digital bank foray will mark ZALL's fourth major project in Singapore since 2018, as it aims to bridge the funding gap and support the expansion of local SMEs and micro-SMEs into Asia.

With a strong commitment towards social responsibility, ZALL was the first company to activate and mobilise their global supply chain networks and resources to deliver emergency supplies within 48 hours of the lockdown to the Wuhan epicentre. The Group has provided 11 air cargo shipments of medical supplies, including masks, and personal protective gear to 556 hospitals and medical institutions in Hubei province in China, and has setup seven emergency hospitals and three fangcang sheltered hospitals to alleviate the severe hospital bed shortage at the epicentre.

Beyond supporting China's fight against Covid-19, ZALL has stepped up efforts to empower governments around the world in the fight against Covid-19, and has published two e-books that is translated into more than 20 different languages to share their knowledge and experience with fighting the pandemic in China and Wuhan. The Group also donated a total of RMB 185 million of medical supplies to 16 countries and regions around the world, including Singapore and affected countries, such as Japan, France, Czech Republic, Cambodia, Indonesia, Peru, Ecuador as well as Central And West African countries.

"As an entrepreneur, the basic spirit that one must have is to love one's country and hometown, and if one is not even able to love their hometown, we can't really expect them to love anything else," said Yan Zhi.

About ZALL Smart Commerce Group

ZALL Smart Commerce Group is a leading Chinese B2B e-commerce group (ranked 166th of Fortune China 500 companies) with a global footprint across the world and is listed on three exchanges on HKSE, NYSE and SSE. ZALL Group develops and operates Asia's largest B2B offline-to-online trade ecosystem in China and Southeast Asia, including Singapore, with more than 30 B2B platforms in China, US and Singapore, and a GFA of more than 10 million sqm of wholesale trade centres in China. In 2018, ZALL Group achieved a GMV of more than RMB 600 billion (US$85.2 bn), serving over 1 mil SME customers worldwide.

ZALL has also obtained a virtual banking licence and currently operates Z-Bank in China since 2017, one of China's Top 5 digital banks that has supported more than 5.5 million SME and individual customers. For more information, please visit http://en.zallcn.com/

For media queries
PRecious Communications for ZALL
ZALL@preciouscomms.com

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com