InvestHK encourages Australian companies to leverage Hong Kong’s business advantages in the Guangdong-Hong Kong-Macao Greater Bay Area

HONG KONG, Mar 2, 2021 – (ACN Newswire) – Invest Hong Kong (InvestHK) hosted a hybrid symposium entitled "Hong Kong: Your Greater Bay Area Partner in Expanding Your Global Business" in Sydney today (March 1), attracting over 400 participants from Hong Kong and Australia.

The Secretary for Commerce and Economic Development, Mr Edward Yau, speaks via video on the huge potential of the Guangdong-Hong Kong-Macao Greater Bay Area and encourages Australian enterprises to seize the abundant opportunities in his keynote speech during the symposium "Hong Kong: Your Greater Bay Area Partner in Expanding Your Global Business" hosted by Invest Hong Kong in Sydney today (March 1).

The Director-General of Investment Promotion at Invest Hong Kong (InvestHK), Mr Stephen Phillips, delivers welcoming remarks via video during the symposium "Hong Kong: Your Greater Bay Area Partner in Expanding Your Global Business" in Sydney today (March 1), revealing the vast business potential and the composite advantages of Hong Kong in the emerging market of the Guangdong-Hong Kong-Macao Greater Bay Area.

The Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, Mr Tommy Yuen, gives a keynote speech via video during the symposium "Hong Kong: Your Greater Bay Area Partner in Expanding Your Global Business" in Sydney today (March 1).

The symposium focused on the attractiveness of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) as well as the strategic role of Hong Kong in the overall development of the GBA. It brought together the Director of the Australian Chamber Business Leaders Council, Mr Paul Nicolaou, and other speakers renowned in their respective fields to share insights.

The Secretary for Commerce and Economic Development, Mr Edward Yau, talked in his online keynote speech about the huge potential of the GBA and encouraged Australian enterprises to seize the abundant opportunities. He said that, as quoted in studies, while the GBA constitutes only 1 per cent of land in the entirety of China and has 5 per cent of the country's population, it produces 12 per cent of the nation's GDP, and exports 37 per cent of national trade.

"Connectivity through extensive efficient railway systems plus world-class airports and container ports and telecom networks within the GBA provides a solid foundation for it to thrive as a major economic engine of the country. While the 11 cities pursue a common goal of building the GBA into the best bay area in the world, they play different functions as a holistic cluster. Green and sustainable development will be another driver of the GBA in attracting international businesses. By various estimates, the GBA's GDP will grow to top US$4.7 trillion by 2030, presenting growth potential that Australian companies should not be missing," Mr Yau said.

Another keynote speaker, the Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, Mr Tommy Yuen, said via video, "Hong Kong, under 'one country, two systems' and armed with the GBA development plan is ideally placed to contribute to and benefit from both. Hong Kong will focus on better integration into the country's domestic market, taking the GBA development as an entry point, and will proactively strengthen our role as a facilitator to link up the domestic circulation and the international circulation. Playing the dual role well will bring continuous impetus to Hong Kong's economy. Businesses that operate in Hong Kong will hence be able to take full advantage of not just what Hong Kong has to offer but what the GBA market can offer."

The Director of the Hong Kong Economic and Trade Office in Sydney, Ms Winnie Chan, and the Director-General of Investment Promotion at InvestHK, Mr Stephen Phillips, delivered welcoming remarks. Mr Phillips, speaking via video, revealed the vast business potential and the composite advantages of Hong Kong in the emerging market of the GBA. "The GBA in my opinion is the most exciting economic development plan in this planet. It is home to 72 million consumers and many of the country's most innovative companies, and backed by the leading international financial centre status of Hong Kongas well as all other dynamic economic clusters. The intra-regional trade and investment flows, especially between the GBA and ASEAN, present many new opportunities ahead," he said.

Other speakers at the symposium included the Managing Director and Group CEO of the University of Wollongong Global Enterprises, Ms Marisa Mastroianni, who discussed her experience on how to leverage Hong Kong to extend the university's global network of higher education institutions. The CEO and Founder of AirTrunk, Mr Robin Khuda; Partner in Tax of KPMG Hong Kong and Head of Alternative Investments of KPMG China Mr Darren Bowdern; the National President of Australia China Business Council, Mr David Olsson; and the Director of Philanthropy and Government Relations of the Fred Hollows Foundation, Mr Michael Allen, also talked about the unparalleled opportunities in Hong Kong during the panel discussion moderated by the Chairman, Global Engagement of the Business Council of Australia, Mr Warwick Smith.

About InvestHK

InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies. For more information, please visit www.investhk.gov.hk.

For photos of the symposium, please visit: www.flickr.com/photos/investhk/albums/72157718478324988.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

InvestHK of the HKSAR encourages Australian companies to leverage Hong Kong’s business advantages in the Guangdong-Hong Kong-Macao Greater Bay Area

HONG KONG, Mar 2, 2021 – (ACN Newswire) – Invest Hong Kong (InvestHK), a department of the Hong Kong Special Administrative Region Government (HKSAR), hosted a hybrid symposium entitled "Hong Kong: Your Greater Bay Area Partner in Expanding Your Global Business" in Sydney today (March 1), attracting over 400 participants from Hong Kong and Australia.

The symposium focused on the attractiveness of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) as well as the strategic role of Hong Kong in the overall development of the GBA. It brought together the Director of the Australian Chamber Business Leaders Council, Mr Paul Nicolaou, and other speakers renowned in their respective fields to share insights.

The Secretary for Commerce and Economic Development, Mr Edward Yau, talked in his online keynote speech about the huge potential of the GBA and encouraged Australian enterprises to seize the abundant opportunities. He said that, as quoted in studies, while the GBA constitutes only 1 per cent of land in the entirety of China and has 5 per cent of the country's population, it produces 12 per cent of the nation's GDP, and exports 37 per cent of national trade.

"Connectivity through extensive efficient railway systems plus world-class airports and container ports and telecom networks within the GBA provides a solid foundation for it to thrive as a major economic engine of the country. While the 11 cities pursue a common goal of building the GBA into the best bay area in the world, they play different functions as a holistic cluster. Green and sustainable development will be another driver of the GBA in attracting international businesses. By various estimates, the GBA's GDP will grow to top US$4.7 trillion by 2030, presenting growth potential that Australian companies should not be missing," Mr Yau said.

Another keynote speaker, the Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, Mr Tommy Yuen, said via video, "Hong Kong, under 'one country, two systems' and armed with the GBA development plan is ideally placed to contribute to and benefit from both. Hong Kong will focus on better integration into the country's domestic market, taking the GBA development as an entry point, and will proactively strengthen our role as a facilitator to link up the domestic circulation and the international circulation. Playing the dual role well will bring continuous impetus to Hong Kong's economy. Businesses that operate in Hong Kong will hence be able to take full advantage of not just what Hong Kong has to offer but what the GBA market can offer."

The Director of the Hong Kong Economic and Trade Office in Sydney, Ms Winnie Chan, and the Director-General of Investment Promotion at InvestHK, Mr Stephen Phillips, delivered welcoming remarks. Mr Phillips, speaking via video, revealed the vast business potential and the composite advantages of Hong Kong in the emerging market of the GBA. "The GBA in my opinion is the most exciting economic development plan in this planet. It is home to 72 million consumers and many of the country's most innovative companies, and backed by the leading international financial centre status of Hong Kongas well as all other dynamic economic clusters. The intra-regional trade and investment flows, especially between the GBA and ASEAN, present many new opportunities ahead," he said.

Other speakers at the symposium included the Managing Director and Group CEO of the University of Wollongong Global Enterprises, Ms Marisa Mastroianni, who discussed her experience on how to leverage Hong Kong to extend the university's global network of higher education institutions. The CEO and Founder of AirTrunk, Mr Robin Khuda; Partner in Tax of KPMG Hong Kong and Head of Alternative Investments of KPMG China Mr Darren Bowdern; the National President of Australia China Business Council, Mr David Olsson; and the Director of Philanthropy and Government Relations of the Fred Hollows Foundation, Mr Michael Allen, also talked about the unparalleled opportunities in Hong Kong during the panel discussion moderated by the Chairman, Global Engagement of the Business Council of Australia, Mr Warwick Smith.

About InvestHK

InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies. For more information, please visit www.investhk.gov.hk.

For photos of the symposium, please visit: www.flickr.com/photos/investhk/albums/72157718478324988 .

Media contact:

Mr Antoine So
Head of Public Relations
Tel: + 852 3107 1035
Email: ASo@investhk.gov.hk

Ms Eva Chan
Senior Manager, Public Relations
Tel: + 852 3107 1071
Email: EChan@investhk.gov.hk

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Joy Spreader to be included in the Hang Seng Composite Small Cap Index and Southbound Stock Connect Trading

HONG KONG, Mar 1, 2021 – (ACN Newswire) – On February 26, Hang Seng Index Company announced that Joy Spreader (06988. HK) would be included in the Hang Seng Composite Small Cap Index, meaning that it will also be soon eligible for southbound trading under Stock Connect ("Shenzhen Connect").

As we know, Southbound Stock Connect Trading has always been an important channel for mainland investors to participate in the Hong Kong stock market. The stocks selected in Southbound Stock Connect Trading generally require to fulfill a certain scale of market value and trading volume, and, to a certain extent, represent the core assets with long-term competitiveness in the Hong Kong stock market.

In recent years, capital from Mainland China has constantly affected the ecology of the Hong Kong stock market. The proportion of turnover under Southbound Stock Connect Trading to the total turnover in the Hong Kong stock market has increased year by year. In the first three quarters of 2020, the turnover under Southbound Stock Connect Trading has accounted for 21.7% of the total turnover in the Hong Kong stock market.

As Southbound Stock Connect Trading has played a prominent role in the Hong Kong Stock market, every adjustment to the list of Southbound Stock Connect Trading often brings great concern to the investors in the Hong Kong stock market.

The reasons are that, on the one hand, a large number of funds from Mainland China flow into the Hong Kong stock market, injecting greater liquidity into the stocks under Southbound Stock Connect Trading, and improving the active stock trading; on the other hand, being eligible for the Southbound Stock Connect Trading will greatly enhance the popularity of the Company, deepen the understanding of listed companies in the capital market, and promote a further focus on the value of the Company.

Take XD Inc. and China Feihe as examples. On the following day upon being eligible stocks of Southbound Stock Connect Trading, XD Inc. and China Feihe rose by 4.85% and 6.53%, respectively. In particular, the stock price of China Feihe rose by 34.07% in the following two months. After officially becoming an eligible stock of Southbound Stock Connect Trading, Joy Spreader is expected to further expand its shareholder base, improve its equity structure, and enhance its stock liquidity as well as popularity in the capital market.

Joy Spreader, successfully listed on the Hong Kong Stock Exchange on September 23, 2020, is one of the leading MarTech (Marketing Technology) companies in China, providing performance-based marketing services as well as marketing SaaS services on mobile-new-media platforms, such as WeChat and DouYin. Regarding data and algorithm as the core, the Company uses its coupling technology between consumer goods/internet products and mobile-new-media content traffic to promote online marketing for both industry clients and content publishers. Specifically, not only does the Company provide cross-platform performance-based marketing services for industry clients to promote sales, but it also provides marketing SaaS services for the numerous content publishers to help them efficiently realize content/traffic value.

In recent years, with the rapid outbreak of the mobile-new-media market, Joy Spreader has experienced a growth spurt. According to the latest announcement, the Company has continued the strong growth trend in 2020, with the revenue expected to be between HK$880 million and HK$920 million, representing a year-on-year increase of over 60%; the net profit (before deducting exchange gains and losses) was approximately HK$170 million to HK$200 million, representing a year-on-year increase of approximately 123.7% to 163.2%, which was 2.2 to 2.6 times as compared with the same period in 2019.

The marketing SaaS serviced is another highlight of Joy Spreader. Joy Spreader began marketing SaaS services in June 2013. So far, the Company has formed a "flywheel effect" two-engine growth model with its performance-based marketing services and marketing SaaS services.

The great significance of providing marketing SaaS services to we-media publishers is that the Company may automatically obtain stable and quality content resources from mobile-new-media content platforms, enabling highly efficient monetization for content publishers while conducting real-time analysis on the marketing effect, in order to provide strong support for data accumulation and algorithm iteration.

It is worth mentioning that unlike most marketing technology companies, Joy Spreader is one of the few companies with the capability of providing cross-platform services. Up to now, the Company is capable of providing services on WeChat and DouYin, and other mobile-new-media content platforms at the same time.

The first-mover advantage of the Company has been remarkable, particularly in the field of short videos. As early as January 2019, the Company launched the first commercial monetization service for short video content publishers at the beginning of the commercialization of DouYin, which also provided the Company with the first-mover advantage of the leading industry. With the outbreak of short video track, Joy Spreader is expected to become the greatest bonus beneficiary of the short video track.

Joy Spreader is regarded as a "well-performed player in a smooth track" and a scarce investment target of the new economy in China. We are looking forward to the performance of Joy Spreader following the Stock Connect eligibility.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Broad Homes (02163.hk) Well-positioned for Revenue of RMB4.92 Billion in 2021, an Expected Increase of over 80%

HONG KONG, Mar 1, 2021 – (ACN Newswire) – On February 26, 2020, Broad Homes (02163.HK) released its annual results announcement for 2020. In 2020, it achieved total revenue of RMB2,613.9 billion, a year-on-year decrease of 22.4%, gross profit of RMB926.8 million, a year-on-year decrease of 19.0%, net profit of RMB216.4 million, a year-on-year decrease of 68.0%, and an increase in gross profit margin from 34.0% in 2019 to 35.5% in 2020.

Broad Homes remarked that the decline in revenue was on one hand attributable to delayed construction progress of certain of its joint factories due to the COVID-19 pandemic, and on the other, a decrease in gains from loss of significant influence in associates by over 70% in 2020 from the corresponding period last year as a result of an adjustment in management mode of certain joint factories, as well as the improving layout of joint factories nationwide with the progressing of the "Broad Homes United Program".

However, it is noticeable that PC unit manufacturing business of Broad Homes secured remark performance in 2020, with new contract amount reaching RMB4.09 billion, up 31.7% from RMB3.106 billion the corresponding period last year, and backlog amount reaching RMB5.196 billion, up 38.6% from RMB3.749 billion the corresponding period last year. Sufficient orders of the PC unit manufacturing business pave the way for Broad Homes in 2021.

Looking into future, Broad Homes will embrace more opportunities leveraging the three advantages of rapid industry development, its data-driven and B+C dual-diver strategies. According to the Resolution in Relation to the Financial Budget Report for 2021 as set out in the appendix of Meetings to be Resolved at Annual General Meeting and Notice of Annual General Meeting published together with its annual report, Broad Homes budgets a revenue of RMB4.92 billion for 2021, a year-on-year increase of 88%.

PC Unit Business to Ride upon the Potential Industry Boom

In recent years, the state vigorously guides and encourages the development of the prefabricated construction industry. Thanks to the policy support of the central government, Ministry of Housing and Urban-Rural Development and other competent authorities, domestic prefabricated construction industry has embarked on rapid development. Pursuant to Frost & Sullivan, market scale of PC unit manufacturing business reached RMB65.4 billion in 2020, and is expected to reach RMB285.5 billion in 2024 at a CAGR (Compound Annual Growth Rate) of 44.5%.

With the progressing of the "Broad Homes United Program" and improving layout of joint factories, Broad Homes primarily generate revenue from its PC unit manufacturing business, which achieved revenue of RMB2.4192 billion, a year-on-year increase of 5%, and as a proportion of total revenue increased to 92.6% from 68.4% of the corresponding period last year. Riding upon its on-going rapid growth, PC unit manufacturing business has become the core business of Broad Homes. As of June 2020, Broad Homes had 15 wholly-owned PC factories and 88 joint PC factories accumulatively contracted for, making it China's largest PC unit and PC equipment manufacturer.

According to the "2020 China Real Estate Industry Chain Strategic and Integrity Supplier Research Report" issued by China Real Estate Chamber of Commerce, Broad Homes was the most preferred cooperator among "Prefabricated Structure – PC Structure" brands in real estate suppliers.

As an industry pioneer, after more than two decades of exploration, Broad Homes has been blessed with marked advantages amid the rapid development of the industry, which, the market believes, is well positioned to enjoy the dividend from the rapid growth of the prefabricated construction industry.

Comprehensive Establishment of Digital Platform to Focus on Intelligent Upgrading

According to information available, Broad Homes is the pioneer and leader in the industrialization of construction industry in China and the first to adopt full process digital information system and industrial chain technology system with exclusive intellectual property rights, which is capable of offering global, scalable professionalized and intelligent manufacturing of prefabricated buildings and services

As the only prefabricated construction enterprise having been selected for the Pilot Demonstration Project of Intelligent Manufacturing by the MIIT (Ministry of Industry and Information Technology of the PRC), Broad Homes has embarked on establishment of a prefabricated digital platform, upgraded digital development strategy and successfully forged two intelligent systems of PC-Maker software service strategy and PC-CPS system.

PC-Maker service strategy is able to enhance the design interactivity and optimize the design process. Through data collection, utilization and sharing, it promotes the virtuous circle of work done by different parties and continuously enhances the cooperation with and upgrading of strategic customers. As of the end of 2020, Broad Homes has provided comprehensive prefabricated construction solutions to almost 300 property developer, including Vanke, Country Garden, Evergrande, Jinke and Gemdale. The PC-Maker service strategy enables Broad Homes to realize the transformation from business cooperation to standard co-construction, and accelerates the comprehensive upgrading of prefabricated buildings to standardization, digitalization and intelligence at the product end.

Capitalizing on the mature PC-CPS intelligent manufacturing system, Broad Homes commences to transform into data-driven production at the demand end, and realized flexible demand-based manufacturing through digital definition of various elements of the industrial chain, which promoted and achieved efficiency, intelligence and visualization of the whole construction process, and further improved the product quality and construction efficiency. Providing full process digital solutions for prefabricated buildings with PC-CPS system helps to solve problems such as cost, logistics and supply chain management, and facilitates enterprises to achieve excess profit.

Consolidating Industry Leading Position Leveraging B+C Dual-driver Strategy

At the recent Central Rural Work Conference, General Secretary Xi Jinping emphasized that, the state had made it clear to comprehensively promote rural revitalization, accelerate the development of rural industries, deepen rural reform, implement rural construction, and improve the quality of rural housing construction. As a forerunner of construction industrialization, Broad Homes proactively responded to the national strategy to implement rural construction, and successfully realized the strategic transformation from TOB to TOB+TOC in 2020.

At the business end, Broad Homes remains committed to PC unit manufacturing and intelligent manufacturing research and development (R&D), and gradually shits focus away from construction contracting. Broad Homes developed PC Maker software and PC CPS to improve its production efficiency and cost control capacity. Meanwhile, Broad Homes was the first to realize the importance of data elements, and took the lead in the full process prefabricated construction intelligent-oriented development.

At the consumer end, taking advantage of the policy of "separation of ownership, contracting right and management right" in rural homesteads, Broad Homes is expected to get involved in the trillion-level rural housing construction market. In 2020, Broad Homes focused on developing TOC business and launched B-house and the new product B-BOX. B-house products mainly target C-end consumers and the rural villa market, under which Broad Homes introduced seven standardized products, such as Buttonwood Villa, Oak Manor and Camphorwood Villa, established and opened B-house parks in Changsha, Wuhan, Tianjin and other cities, and developed new housing supply schemes to meet the diversified and customized consumption needs of the market, which is transforming the development trend of the traditional rural housing market.

TF Securities predicts that Broad Homes will embrace rapid development in the prefabricated rural villa market segment, its product type design will satisfy the demands of the whole market in the future and TOC business scale (excluding B-BOX) will reach RMB5.25 billion in the next three years, thereby contributing to considerable performance growth. In view of the expansion of housing market demand and the leading advantage of digital intelligent technology, Broad Homes is well positioned to consolidate its leading position in the prefabricated construction industry.

According to expert analysis, in 2020, China further introduced a more detailed industrial digital development strategy. In the new development era, Broad Homes continuously increases investment in digital economy, promotes R&D and digital upgrading, focuses on the principal business of PC unit manufacturing, and specifies the TOB+TOC dual-driver development strategy, which has laid a solid foundation for the rapid expansion of its PC unit business and the leading position in the prefabricated industry, and its future performance is expected to gain remarkable growth.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Broad Homes (02163.hk) to Intensify Its Leading Position Through Data-driven and Dual-driver Strategies

HONG KONG, Feb 26, 2021 – (ACN Newswire) – Recently, promotion policies of prefabricated buildings were rolled out in succession, contributing to an on-going increase in scale of industrial chain and positive industry sentiment. In particular, Broad Homes (02163.HK), one of the industry leaders, which has exploited the construction industrialization field for over two decades, is committed to consolidating its competitive edges and has delivered remarkable performance with CAGR (Compound Annual Growth Rate) of revenue reaching 32.36% for the last three years (2017-2019), market share (of PC unit manufacturing business) amounting 13.5% and research and development (R&D) expenses as a percentage of revenue accounting for 8.82%, both topping the industry.

Picture 1

Picture 2

Picture 3

Picture 4
China's PC unit manufacturing market scale from 2014 to 2024 (estimated)
Unit: RMB100 million

Thanks to the recent favorable policies in the prefabricated construction industry, Broad Homes remains dedicated to its PC unit manufacturing business and upholds the data-driven and B+C dual-driver strategies, well positioned to further consolidate its leading position and achieve leapfrog growth.

EXPEDITE INDUSTRIAL CHAIN DEVELOPMENT THROUGH COMPREHENSIVE DIGITAL TRANSFORMATION AND SECURE EXCESS PROFIT LEVERAGING INTELLIGENT MANUFACTURING

As the only prefabricated construction enterprise having been selected for the Pilot Demonstration Project of Intelligent Manufacturing in 2018 by the MIIT (Ministry of Industry and Information Technology of the PRC), Broad Homes has, through over two decades of cultivation, spared no efforts in facilitating the digital transformation of the industry and expediting industrial chain development. It has established eight generations of product systems for prefabricated buildings, conducted R&D into domestic first-class full process digital solutions and boasted experience accumulated in industrial projects of over 100 million square metres and strategic factory layout across the nation.

Currently, leveraging the leading manufacturing capacity of PC units, PC Maker I, the first domestic forward design software based on BIM platform in the field of prefabricated buildings, and PC-CPS intelligent manufacturing management system, the digital solution for the full process of prefabricated buildings, Broad Homes has bridged every stage of the whole industrial chain from design, manufacturing, construction to operation and maintenance and become a standardized portal for industrialization and intelligent service platform of the construction industry.

The design software PC Maker I of Broad Homes effectively improves design interactivity and optimizes design process to significantly reduce the time required for a single design process. With improved design accuracy, it enjoys better function integration capacity and consistency between the subsequent production processes and actual use when compared with other BIM software, thus winning great trust and favor from customers. As of the end of December 2020, we had provided comprehensive solutions of prefabricated buildings for nearly 300 customers, including Vanke, Country Garden, Evergrande, Jinke and Gemdale, and established cooperative relations with nine out of China's top ten property developers and China's top ten construction enterprises, thereby promoting the transformation from business cooperation to standard co-construction, and accelerating the shift of prefabricated buildings into standardization, digitalization and intelligence at the product end.

The picture 1 shows the functions of PC Maker 1 software

Project
Prefabricated preliminary design
Construction drawing
Prefabricated deep design
Prefabricated inspection
Drawing
Model creation
Unit dismantling
Unit design
Drawing management
Parameterized unit library
Parameterized accessory library
Custom module

The PC-CPS intelligent manufacturing system of Broad Homes is applied in digital twin technology to pre-simulate the whole process of prefabricated buildings in the system and trigger all instructions through data, which integrates process, cost, logistics and supply chain management, and coordinates the whole process from forecasting to goods acceptance in real time, thus significantly improving production and operation efficiency. It has become a standardized portal and intelligent service platform for building industrialization and enjoys trust from various reputable domestic property developers and construction customers. In 2021, Broad Homes will continue to improve the PC-CPS platform, enhance R&D capabilities, boostthe soft power of intelligent manufacturing, promote the comprehensive integration of the industrial Internet platform system, and propel the modernization of China's construction industry.

The picture 2 shows the whole functioning process of the PC-CPS system

Strategic customers
Product R&D
Business protocol for building modeling
Project import
Building model
Engineering model
Business model
Concluding contract
Delivery + first-level confirmation
Construction site
Complete semi-finished products
PC manufacturing
Finished products warehouse
Transportation
Site warehouse
Assemble prefabricated parts
Processing and packing
Pallet distribution
QR code-based production
QR code-based loading
Project startup
QR code-based warehousing
QR code-based launching
QR code-based delivery
QR code-based loading
QR code-based hoisting
Level-three QR code triggered by hoisting
Settlement
Analysis

In recent years, Broad Homes continued to increase R&D investment and strived to achieve digital transformation and upgrading. In 2019, its total R&D expenditure as a percentage of revenue remained at the forefront of the industry, which laid the foundation for the rapid expansion of its PC unit manufacturing business and forging leading advantages in the prefabricated industry, and brought about sustainable competitiveness and excess profits.

The picture 3 shows the total R&D expenditure as a percentage of revenue of industry peers in 2019 and R&D expenditures of Broad Homes from 2017 to 2019 (including the amount expensed and capitalized based on the information in the prospectus of Broad Homes and CITIC Securities Research Institute)

Total R&D expenditure as a percentage of revenue
China State Construction
Honglu Steel Structure
Golden Mantis
Orient Landscape
Shanghai Construction Group
China Chemicals
China Design Group
China Industrial International
Broad Homes
R&D expenditure
R&D expenditure as a percentage of revenue

From 2017 to 2019, the operating revenue and net profit of Broad Homes increased at a CAGR of 32.36% and 108.26%, respectively. In 2020, despite the shock of the COVID-19 pandemic, the PC unit manufacturing business, the core principal business of Broad Homes, secured sound growth with new contract amount of RMB4.091 billion, a year-on-year increase of 31.7%, and contract amount secured yet to complete of RMB5.196 billion, a year-on-year increase of 38.6%. Sufficient new orders and backlog paved the way for Broad Homes in 2021.

With the relief of the pandemic, the revenue of PC equipment manufacturing business of Broad Homes will pick up. Upon completion of reform of the remaining joint factories and leveraging potent demand, the overall performance of Broad Homes will steer into a normalized growth track.

PREFABRICATED BUILDINGS AN INEVITABLE CHOICE AMID POTENTIAL INDUSTRY BOOM

In recent years, the state issued relevant policies to vigorously guide and motivate the development of prefabricated construction industry. The "13th Five-Year Plan of Action for Prefabricated Buildings" of the Ministry of Housing and Urban-Rural Development clearly stipulates that the proportion of prefabricated buildings in new buildings should reach 25% by 2023 and 30% by 2025. The prefabricated building industry will embrace explosive growth.

Policies regarding China's fabricated buildings were first introduced in 2016. Although the industry grew at a CAGR of 55% in recent four years, the penetration rate of fabricated buildings in China in 2019 was only 13%. According to Frost & Sullivan, the domestic market scale of PC unit manufacturing business will reach RMB65.4 billion in 2020 and RMB285.5 billion in 2024, with a CAGR of 44.5%. Compared with the traditional cast-in-place construction method, the prefabricated building is energy-saving and environment-friendly, which may shorten the construction period by 45% and save manpower by 75%. Looking into future, due to the disappearing demographic dividend, high labor cost and limited capacity of resources and environment, prefabricated building materials will be an inevitable choice for the transformation and upgrading of the construction industry. With the improvement of penetration, this industry is expected to usher in a trillion-level "blue ocean" market. From 2014 to 2024, the domestic market scale of PC units for prefabricated buildings is estimated to record a year-on-year increase of 680 times, promising great potential. (Picture 4)

It is fair to say that in the next few years, the domestic prefabricated industry will enjoy a boom, and Broad Homes will also usher in an obvious turning point in profit. Three advantages will facilitate it to tap on the scale advantages 1) Broad Homes has established factories in Hunan, Tianjin, Yangtze River Delta and Pearl River Delta, which are the key areas for promotion of the prefabricated buildings, and 62 Joint Factories it contributed to span across the nation, which is expected to increase the capacity utilization rate of Broad Homes in the market boom; 2) the two design software of Broad Homes, being PC Maker I and PC-CPS, the intelligent manufacturing management system, empower the development of the industrial chain through digital management, resulting in per capita production efficiency far exceeding peers, and enjoy popularity among customers; 3) Broad Homes boasts eight generations of prefabricated building product system and experience accumulated in industrial projects of over 100 million square metres, positioning it in a very favorable position to seize the huge blue ocean market in the future.

INTENSIFY LEADING POSITION THROUGH DUAL-DRIVER STRATEGY TRANSFORMATION AND PROPOSED INITIAL PUBLIC OFFERING OF A SHARES

At the beginning of 2020, Broad Homes categorized its business into two major sectors, being B2B and B2C, in which B2C represents the B-house business charged by the Module Integration Technology Division, and the new product B-BOX business will also be launched. In the B2C field, B-house products primarily target C-end consumers and country villa market, and seven standardized products have been offered. In the first half of last year, it commenced to take orders for country villas.

It is reported that the self-built housing in rural areas and approximate to cities in China covers an area of over 1.3 billion square meters, and it is estimated that there will be more than 2.2 million new rural houses each year, implying great market potential for rural construction. Since the beginning of 2019, policies on rural residential pilot projects, marketing of collective management of construction land and decentralization of land use approval authority have been successively rolled out. Therefore, TF Securities pointed out in its research report that To C business will generate new growth driver for Broad Homes, and it is predicted that the scale of To C business (excluding B-BOX) of Broad Homes will reach RMB5.25 billion in the next three years, thereby contributing to considerable performance growth.

Besides, Broad Homes proposed to apply for initial public offering of A shares and listing the same on ChiNext of the Shenzhen Stock Exchange, to further enhance its capital strength. No more than 86.054 million shares will be allotted and issued under this IPO exercise, and the proceeds raised will be applied in six fields, including Broad Homes CPS Henan Research, Development and Production Headquarter Base Project, The First Phase of Assembly PC Factory Construction Project of Broad Homes Weifang Direct Company, Broad Homes Smart Site Research and Development Project, Broad Homes Mansion Exhibition Center Project, B-BOX Modularized Building Production Line Technology Renovation Project and supplementing of Working Capital, with an investment amount of approximately RMB1.879 billion. In particular, Broad Homes CPS Henan Research, Development and Production Headquarter Base Project and The First Phase of Assembly PC Factory Construction Project of Broad Homes Weifang Direct Company will increase the PC units production capacity of Broad Homes by 240,000 cubic meters, upon which, total production capacity of wholly-owned factories will reach over 2 million cubic meters. As such, Broad Homes is expected to consolidate its leading position and promises great growth potential in the mid- and long-term.

According to Frost & Sullivan, in terms of the revenue in 2019, Broad Homes is the largest domestic PC unit manufacturer, with a market share of 13.5%, and also the largest domestic PC equipment manufacturer in China, with a market share of 38.3%.

Looking into future, with the relief and even disappearance of the COVID-19 pandemic, Broad Homes will continue to consolidate its leading position through data-driven and dual-diver strategy transformation and A-share listing, and share the dividend of rapid growth of the industry with shareholders and investors.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

China Gas responds to China’s rural rejuvenation strategy by introducing unique Smart MicroGrid village gasification technology

HONG KONG, Feb 24, 2021 – (ACN Newswire) – On February 21, 2021, China issued 2021 No. 1 Central Document titled "Opinions of the Central Committee of the Communist Party of China and the State Council on Comprehensively Promoting Rural Revitalization and Accelerating Agricultural and Rural Modernization". It requested the strengthening of rural public infrastructure construction while placing the focus of public infrastructure construction on villages, extending to coverage of villages and households. It also stressed "the promotion of gas to villages and support for the construction of safe and reliable village gas tank stations and microgrid gas supply system". The gas tank stations and microgrid gas supply system mainly refer to the unique liquefied petroleum gas (LPG) Smart MicroGrid system developed by China Gas Holdings Limited ("China Gas"; stock code: 384). President Xi Jinping also emphasized that strengthening rural public infrastructure construction is key to the sustainable and healthy economic and social development of villages and is fundamental to the realization of rural rejuvenation as a whole.

In response to China's rural rejuvenation strategy and rural construction policy as well as assist the country in implementing the "Fighting for the blue sky Campaign", China Gas has started to invest in and implement the village gasification strategy and promote the green transformation of production models, extending to the lifestyles and habits of citizens and industrial and commercial users early in 2016. The Group has built up considerable technologies and amassed extensive experience in market development and sound operation in related fields. Following eight years of research and execution, the Group has commenced the adoption of its unique and innovative township LPG Smart MicroGrid technology in Central and Southern China and coastal areas via light asset investment.

China Gas has learned from mature technologies from foreign countries and introduced new technologies such as IoT and smart and cloud platforms to develop more advanced, cost-effective and safer LPG Smart MicroGrid integrated energy utilization platforms. The consumption pattern of the Smart MicroGrid is the same as piped natural gas, but the former boasts lower construction costs. Also, the Smart MicroGrid is more cost-effective and safer than liquefied natural gas (LNG) supply and bottled LPG gas, making it a revolutionary gas supply model suitable for large-scale promotion in villages across China.

Smart MicroGrid is unique technology developed by China Gas that is aimed at creating a low-carbon livable environment, following the industrial "coal to gas" and village "replacement of coal with gas" projects. The Group is also able to invest in Smart MicroGrid technology for application in villages, townships and small communities across the country, in particular, Central and Southern China and coastal areas. These geographical locations currently represent a huge untapped market involving approximately 90 million families.

The Smart MicroGrid technology was successfully applied in certain projects in the Qinghai and Hubei provinces in 2019. This has paved the way for the pursuit of "bottle to pipe" reform in rural areas, establish "beautiful villages" and improve the living standards of farming families, and have gained significant recognition from the government. Currently, it is widely used in other provinces, such as Yunnan and Zhejiang. Since China Gas mapped out its investment in the Smart MicroGrid business in June 2020, market development has proceeded smoothly, and provincial agreements have been signed in Qinghai, Hainan, Yunnan and Guangdong. China Gas has also signed strategic agreements with 15 provincial-level municipalities and 11 counties, serving over 25 million households. Furthermore, its accumulated residential user contracts amount to over 1 million households, with engineering design and construction work proceeding expeditiously.

Considering the enormity of the township market, which is projected to connect 3 million urban users a year in the coming four to five years, China Gas will be able to connect to more than 15 million township users, generating over RMB 15 billion in profit. Based on a conservative estimate, its total revenue will grow at a CAGR of over 20%, which is much higher than the industry average. Hence, China Gas' valuation will still have significant room for growth.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Quamnet Outstanding Enterprise Awards 2020 ceremony Successfully Held on 3&4 February 2021

HONG KONG, Feb 24, 2021 – (ACN Newswire) – The Award Ceremony of Quamnet Outstanding Enterprise Awards 2020 was successfully held on 3 and 4 February 2021 at Regal Kowloon Hotel. 12 awarded companies' representatives and honourable guests attended and witnessed the 12th Anniversary of the Awards. Despite pandemic, the Awards was able to gain wide support from the business community and media from both Hong Kong and overseas, celebrating remarkable achievements of these awarded companies.

Celebrating 12th Anniversary: Sagacity Built to Business Perfection

Being a leading financial website in Hong Kong, Quamnet not only focuses on the financial field, but also the accomplishments of Hong Kong business community which attracts public attention. The Awards, instituted in 2009, is organized by Quamnet and aims to identify and recognize the excellent performance of Hong Kong enterprises.

The judging panel of QOEA is formed by the Quamnet editorial team, Quamnet research team, and independent financial analysts. Each nominated enterprise is required to submit their company profile and the self-evaluation report for assessment and selection. The committee will then use eight categories to select the most representative enterprises. The eight categories include excellent products and services, brand reputation, philosophy of operation, marketing strategies, sustainable development strategies, accomplishments, corporate social responsibility and unique business philosophy or development.

This year we celebrate the twelfth year of QOEA, with theme of "Sagacity Built to Business Perfection", recognizes enterprises' outstanding sagacity in times of challenges and critical changes in the past year. The awarded enterprises not only have stood firm, they have also shown the business scene their dedication to reaching new peaks.

Awarded companies come from a wide array of industries in Hong Kong, including financial services, internet corporation, immigration advisory, TMT, ICT solution provider, logistics, and healthcare service etc.

12 companies are being awarded this year with its outstanding achievement, including Babytree Group, Bartra Wealth Advisors Limited, Beng Soon Machinery Holdings Ltd, China Life Trustees Limited, CMGE Technology Group Limited, CITIC Telecom CPC, Kerry Logistics, LFG Investment Holdings Limited, Realord Asia Pacific Securities Limited, Realord Group Holdings Limited, Wan Kei Group Holdings Limited and Link-Asia International MedTech Group Limited.

Awards Ceremony Attended by Professionals and Elites, Widely Embraced by Business Community and Media

The Awards was honoured to have business community and media's support, including

Mr. Joseph H.L. Chan, JP, Under Secretary for Financial Services and the Treasury
The Government of Hong Kong SAR
Dr. Michael Chan, Honorary Chairman of Hong Kong Institute of Marketing
Mr. Sam Kwok Tak Sum, President of Hong Kong Society of Economists
Mr. Michael Wong, President of Society of Registered Financial Planners

Mr. Andy Chan, Managing Director of China Tonghai Financial Media Limited, said "2020 was a turbulent and above all challenging year. Despite the global pandemic, outstanding enterprises have stood out from the crowd with its perseverance, excellence and intelligence. Celebrating the 12th Anniversary of QOEA, the Awards has never stopped in recognizing the outstanding performance of the enterprises in Hong Kong, as it aspires to be a widely recognized financial media, setting the benchmark of corporate governance and business development. Quamnet would like to express our applause to all winners of the year, the challenging year of 2020 has made the awarded companies more special. The progress and achievements these companies made in the past year not only enhances positive corporate image and reputation, it also helps create role models for other enterprises in times of hardship."

Grand ceremony supported by elites and medias
In addition to a strong lineup of guests, the award presentation ceremony attracted numerous media both in Hong Kong and China. Media partners include Caiguu.com, The Standard and FX678.

Quamnet Outstanding Enterprise Awards 2020 (Alphabetical Listing by Company Name)

Categories / Awarded Company
1. Outstanding Internet Corporation with Investment Value 2020 / Babytree Group
2. Outstanding Ireland Immigration Advisory & Immigrant Investor Programme 2020 / Bartra Wealth Advisors Limited
3. Outstanding Demolition Service Provider 2020 / Beng Soon Machinery Holdings Ltd
4. Outstanding MPF Scheme 2020 / China Life Trustees Limited
5. Best TMT Company 2020 / CMGE Technology Group Limited
6. Outstanding ICT Solution Provider 2020 / CITIC Telecom International CPC Limited
7. Outstanding Global 3PL 2020 / Kerry Logistics
8. Outstanding Integrated Financial Services Enterprise 2020 / LFG Investment Holdings Limited
9. Outstanding Assisted Reproductive Health Care Service Enterprise 2020 / Link-Asia International MedTech Group Limited
10. Outstanding Securities Service Development 2020 / Realord Asia Pacific Securities Limited
11. Outstanding Diversified Integrated Enterprise 2020 / Realord Group Holdings Limited
12. Outstanding Integrated Foundation Services 2020 / Wan Kei Group Holdings Limited

Website of Quamnet Outstanding Enterprise Awards 2020:
http://events.quamnet.com/QOEA2020/

"Quamnet Outstanding Enterprise Awards 2020" Photos
For more photos, please visit Quamnet Outstanding Enterprise Awards website:
http://events.quamnet.com/QOEA2020/

For enquiry, please contact:
China Tonghai Financial Media Limited
Events and Media:
Ms. Macy Yeung Tel: (852) 2217 2752 E-mail: Macy.Yeung@tonghaifinancial.com
Ms. Hayley Wu Tel: (852) 2217 2679 E-mail: Hayley.Wu@tonghaifinancial.com
Ms. Angel Shum Tel: (852) 2217 2706 E-mail: Angel.Shum@tonghaifinancial.com

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

NaturalShrimp Signs Letter of Intent to Acquire Aquaculture Assets of Hydrenesis Aquaculture, LLC

Dallas, TX, Feb 24, 2021 – (ACN Newswire) – via NewMediaWire — NaturalShrimp, Inc. (OTCQB: SHMP), an aquaculture Company, which has developed and patented the first commercially operational Recirculating Aquaculture System (RAS) for shrimp, announced today that it has signed a Letter of Intent (LOI) to acquire the aquaculture assets of Hydrenesis Aquaculture, LLC for $12,500,000, consisting of $5,500,000 in cash and the balance due in NSI common stock. The acquisition is expected to be accretive to earnings in fiscal year 2021.

Gerald Easterling, CEO of NaturalShrimp added, "NaturalShrimp has been working with Hydrenesis since 2018 on several solutions for the industry with the team at Hydrenesis. We currently have trials on going in Norway and Australia. The Company intends to immediately begin deployment of the technology in our hatchery and nursery systems. We also believe that the Hydrenesis technology will have major impacts on disease control in salmon, barramundi, and tilapia farming segments. We expect to file additional patents around the expansion of the application and use of the combined EC and Hydrenesis technology."

David Antelo, CEO of Hydrenesis, Inc., said, "We are excited for the next evolution of our relationship with NaturalShrimp. We have been exploring the application of 'Redox' water treatment for several years. Our technologies' ability to affect water chemistry and elevate water quality is proving to have a significant impact on growth and health metrics. Natural Shrimp's bold vision and rapid growth trajectory make them the ideal partner for extending commercialization of Hydrenesis technologies to additional species applications."

ABOUT NATURAL SHRIMP

NaturalShrimp, Inc. is a publicly traded aqua-tech Company, headquartered in Dallas, with production facilities located near San Antonio, Texas. The Company has developed the first commercially viable system for growing shrimp in enclosed, salt-water systems, using patented technology to produce fresh, never frozen, naturally grown shrimp, without the use of antibiotics or toxic chemicals. NaturalShrimp systems can be located anywhere in the world to produce gourmet-grade Pacific white shrimp.

About Hydrenesis

Hydrenesis, Inc. and Hydrenesis Aquaculture, LLC, headquartered in Pompano Beach, FL, are private technology owners and technology commercialization companies that partner with leading IP holders and industry insiders to commercialize innovative technologies in major industry sectors.

Forward Looking Statements

This press release contains "forward-looking statements." The statements contained in this press release that are not purely historical are forward-looking statements. Forward-looking statements give the Company's current expectations or forecasts of future events. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company's control, and could cause the Company's results to differ materially from those described. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements include statements regarding moving forward with executing the Company's global growth strategy. The statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict. The Company is providing this information as of the date of this press release and does not undertake any obligation to update any forward looking statements contained in this press release as a result of new information, future events or otherwise, except as required by law. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Important factors that could cause such differences include, but are not limited to the Risk Factors and other information set forth in the Company's Annual Report on Form 10-Q filed on February 16, 2021, and in our other filings with the U.S. Securities and Exchange Commission.

Contact:
Richard Brown
508-462-9638

SOURCE: Natural Shrimp

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HKTDC welcomes economic recovery measures in 2021/22 Budget

HONG KONG, Feb 24, 2021 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) welcomes the Hong Kong Special Administrative Region (HKSAR) 2021/22 Budget, including the additional funding to the Council, to help revive the economy and support small and medium-sized enterprises (SMEs) to tackle the challenges brought by the COVID-19 pandemic and economic downturn. The Budget was announced by the HKSAR Financial Secretary Paul Chan earlier today.

HKTDC Chairman Dr Peter K N Lam said: "We welcome the economic recovery measures announced in the Budget, including fee waivers, tax reduction and optimising the 'SME Financing Guarantee Scheme' which would help relief the pressure on cash flow for SMEs. The Government's injection of new capital into the 'Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund)' and expansion of geographical coverage will also help Hong Kong companies tap into more promising markets."

Dr Lam said: "With the world still fighting the COVID-19 pandemic, we expect many international trade fairs and conferences may continue to be held virtually. Even when the pandemic subsides, a physical cum virtual hybrid model will likely be the new norm. It is therefore of utmost importance to help enterprises accelerate their digital transformation. We will build a robust virtual platform supported by the latest technology to offer a seamless online-to-offline experience for buyers and sellers, helping local and global companies capture opportunities with greater ease and precision."

"To help Hong Kong companies ride on the opportunities from Mainland China's 'dual circulation' policy and the Guangdong-Hong Kong-Macao Greater Bay Area development, we will ramp up our business promotion and matching activities. At the same time, we will leverage the growing focus on healthcare to develop Hong Kong into the leading international hub for medical and healthcare investment in the region."

"We will redouble our efforts to create new opportunities for our industries, enabling them to diversify business and find new impetus for growth in the post-pandemic new normal," Dr Lam added.

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: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries
Please contact the HKTDC's Communication and Public Affairs Department:
Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org
Susanna Sin, Tel: +852 2584 4294, Email: susanna.kc.sin@hktdc.org

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Great Bay and Other Five Strategic Investors Invested in A Stake in TAOP

HONG KONG, Feb 23, 2021 – (ACN Newswire) – Taoping Inc. (NASDAQ: TAOP, the "Company"), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced that six powerful strategic investment institutions and independent investors, including Great Bay Capital Investment Limited, have took a stake in the Company, which will help the Company to realize its strategic transformation through developing its blockchain business and related financing projects, and to bring more development opportunities for the Company.

TAOP aims to raise approximately $7.75 million through the issuance of 1,900,000 ordinary shares at a purchase price of $4.08 (average closing price for the 20-trading days ended February 19, 2021). TAOP intends to use the net proceeds from the offering for working capital and general corporate purposes. The private placement is expected to close no later than March 21, 2021. According to Security Act Rule 144 in U.S. Securities, the consummation of the private placement is subject to the satisfaction of certain customary closing conditions.
Amid the rise of digital-era, blockchain technology is the general trend of the development of science and technology finance. TAOP actively grasps the development tide, formulates its core development strategy, and promotes the transformation of the platform-based ecological layout, so as to enhance the Company's market competitiveness and increase its revenue. The investment from the six strategic investment institutions and independent investors in the Company has fully reflected their confidence in the Company's development strategy and prospects. With years of investment experience and industry experience, it is believed that the investors can help TAOP to achieve the goal of strategic transformation and promote its long-term development.

The six strategic investment institutions and independent investors include:

1. Great Bay Capital Investment Limited ("Great Bay").

Great Bay is an excellent investment management company with rich investment experience and rich experience in enterprise financing, merger and reorganization.

Mr. Yi Ming, the Chief Management Partner of Great Bay, has more than 18 years of investment and financing experience at home and abroad. He used to serve as the General Manager of the investment department of China Cinda Asset (Hong Kong) Management Company, the founding partner of Zeal Asset Management Limited, and the senior management partner of Henry Fund. He has led to participate in the investment and financing projects with more than 5 billion US dollars, including the projects of restructuring and acquisition, private equity, stocks, and structural investment. In recent years, he has focused on the research and investment of Internet industry, blockchain, digital currency and artificial intelligence. Mr. Yi obtained a master's degree in Finance from the ICMA Center of University of Reading, the UK and a master's degree in Management from Guanghua School of Management, Peking University.

2. Mr. Wang Dongfeng

Mr. Wang Dongfeng has 22 years of rich experience in the Internet industry. He has gone through the era of PC Internet and mobile Internet, and deeply participated in the growing blockchain Internet. His rich experience of entrepreneurship enables him to accurately estimate the development trend of related industries. He also accumulated rich management experience and be good at enterprise positioning, and create innovation models of multiple industries.

In 2004, Mr. Wang founded Zcom, the earliest e-magazine platform in China. In 2009, Mr. Wang co-founded Forgame Group and spent four years to get it listed on the Main Board of The Stock Exchange of Hong Kong Limited. In 2017, he started to invest in the blockchain industry, deeply arranged the digital currency mining, and focused on blockchain investment as a venture partner of Longling Capital.

3.Smalltalk Technology Limited

Smalltalk Technology Limited was established in 2018, focusing on the venture capital investment of blockchain technology-related companies. The investment manager of Smaltalk has experience in investing Internet, blockchain and digital currency for many year. Smatltalk has successfully invested in many outstanding companies in the industry.

4. Crown Capital Enterprise Co., Ltd.

Crown Capital Enterprise Co., Ltd is a comprehensive investment holding group registered in Hong Kong. Mr. Huang Siliang acts as an executive director. Mr. Huang Siliang is the chief financial officer of Fang Brother Knitting Limit and the managing director of Fang Brothers Knitting (Shanghai) limited, a wholly-owned holding company of Fang Brothers (China) Limited. Fang Brothers Knitting was founded in Hong Kong by Mr. Fang Zhaozhou in 40 years and is one of the "Big Four Families" in Hong Kong's garment industry. The current chairman of the group, Mr. Fang Keng, is the honorary chairman of the Hong Kong Textile Industry Association, the chairman of the Productivity Council, a Hong Kong affairs consultant, a member of the 9th National Committee of the Chinese People's Political Consultative Conference, and a Justice of the Peace. Mr. Fang Keng has been awarded the Golden Bauhinia Medal by the Hong Kong Special Administrative Region Government.

5. Dr. Zhang Bin

Dr. Zhang Bin holds a doctorate degree from the University of Science and Technology of China. He is a member of the 12th and 13th National Committee of the Chinese People's Political Consultative Conference, the chairman of the China Cultural Industry Association, and the director of the management committee of the China National Animation and Game Industry Promotion Base.

Since serving as the chairman of the China Cultural Industry Association, Dr. Zhang has actively built a high-level international exchange platform, expanded the influence and dissemination of Chinese culture on the international stage, and led the Chinese cultural industry to the world. To this end, Dr. Zhang has visited the United Nations Deputy Secretary-General Mr. Nan Weizhe, UNESCO Director-General Ms. Irina Bokova, South-South Cooperation Organization Chairman Mr. Lorenzo and other international organizations.

6. Mr. Wayne Ker

Mr. Wayne Ker graduated from the University of Chicago in the United States, currently serves as a consultant for Taiwan's digital currency exchange MaiCoin and co-founder of Taiwan's blockchain platform supply chain financial services company BSOS. Mr. Ker has very rich network resources and work experience in Taiwan's semiconductor industry. A senior investment expert. Mr. Ker has worked in CITIC International Asset Management Co., Ltd., UBS Bank, and ABN AMRO Bank. During the period, he handled debt financing of Taiwan ASE Semiconductor, Hon Hai Technology, Chunghwa Picture Tubes and other companies, as well as the case of 39.6 billion Taiwan dollars merger and acquisition of Yuanchuan Electric Training and Telecom.

"This financing provides TAOP with the capital to take advantage of the opportunities in our industry. I would like to thank all new and existing shareholders for their continued support. We look forward to continuing our approach to value creation in 2021 in order to maximize the reward of our investors," said Mr. Jianghuai Lin, Chairman and CEO of TAOP.

About Taoping Inc.

Taoping Inc. (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App – Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/.

This press release is disseminated by Bright Communication International Limited on behalf of Taoping Inc.

For further information, please contact:

Taoping Inc.
Chang Qiu
Email: chang_qiu@taoping.cn
http://www.taop.com/

For media enquiries, please contact Bright Communication International Limited:
Ms. Ashley Kung
Tel: (852) 2555 0230
Email: ashley.kung@brightcommns.com

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com