HONG KONG, Feb 23, 2021 – (ACN Newswire) – Parkson Retail Group Limited ("Parkson' or the "Company", with its subsidiaries collectively referred as the "Group", HKEx stock code: 3368.HK), the leading nationwide lifestyle concept retailer in China, today announces the Group's annual results for the year ended 31 December 2020 ("Year under Review").

2020 had been full of challenges and uncertainties for the global market. The global outbreak of COVID-19 at the start of the year had caused significant reduction and suspension of social and economic activities which inevitably caused the global economy to face downward pressure. In addition to this, the continuous tension of Sino-US trade relations brought many uncertainties to the global economic and political environment. Hence, the overall performance of the Group declined as a result of the negative impact brought upon by the COVID-19 coronavirus pandemic which the Group has actively adopted cost control measures to reduce its impact. Meanwhile, the Group is committed to strengthening its position as a leading retailer of fashion and lifestyle concepts in China through a diversified development strategy.

During the year under review, the Group recorded total sales proceeds ("Total Sales Proceeds") of RMB11,225.6 million (including value-added tax); a decrease of 20.8% from last year, mainly due to the decline in same-store sales. Same-store sales decreased by 18.7% during the year under review, mainly due to the impact of the COVID-19 pandemic. During the year under review, the total operating revenue of the Group decreased by RMB597.9 million or 11.9% to RMB4,428.3 million, and the overall gross margin for sales fell to 15.3%, compared with 16.0% in 2019. Operating profit was RMB349.0 million, a decrease of 26.5 % over the same period last year.

Strong alliance and collaboration for new opportunities
To diversify and strengthen its base, the Group has been actively seeking different business partners, using flexible business cooperation models to achieve strong alliances, and exploring new markets and new business opportunities. The Group sealed its cooperation with Jinjin Changfa Group, a well-known commercial brand in Suzhou City to comprehensively upgrade and renovate Suzhou Changfa Commercial Building, which has a long history and is located in the core business district of Gusu District, Suzhou City in May 2020. The strong attraction of the Suzhou market, the conducive business environment in Gusu District, and the huge development prospects of the local consumer service market provide a strong impetus for the Group to locate in Suzhou. Combining Jinjin Changfa Group's huge customer base with the Group's rich commercial retail management experience, the Group is confident that the project will become a new benchmark for "business, tourism and culture" in Gusu District.

In addition, the Group build a large-scale urban complex – "Wuzhou Sanqi Parkson" with Wuzhou Sanqi Investment Company Limited, a new cultural landmark integrating office, residence, hotel, F&B, retail, and entertainment in June 2020 and is scheduled to open in the coming year. Since Guangxi Zhuang Autonomous Region is a crucial gateway for the "Belt and Road" Initiative and an important stop for the "New International Land-Sea Trade Corridor", the advanced structure of the Guangxi market is significant for the Group to drive the overall development of the retail business into the southwest region. It will be able to generate regional synergies and expand its influence to the surrounding areas.

Promoting diversified and innovative development
As one of China's leading advocates of fashion lifestyle retail concepts, Parkson has been committed to building an outstanding reputation, maintaining its customer base, and attracting new customers through diversifying its products and improving consumer experience. During the year under review, the Group strategically expanded its product categories to meet growing consumer needs.

Parkson's self-operated makeup brands namely Parkson Beauty and Play Up have become immensely popular among young consumers through differentiated product strategies. Parkson hopes to deepen its image as a trendy vendor and explore the possibility of more branch stores.

The Group is also actively adopting a variety of modes to improve the shopping experience for customers. For example, the Group's Lion Mall, together with its boutique supermarkets, Parkson Supermarket and Hogan Bakery, had participated in the "Singaporean Night Market" held in Shanghai. This event not only broke away from the traditional sales model, it also narrowed the gap between the vendor and its customers, allowing them to interact more closely, and creating a whole new experience. During the year under review, the Group continued to promote the renovation project of the North Building of Beijing Fuxingmen Parkson Store, which is expected to be completed in the middle of 2021. The Group believes that Fuxingmen North Building, being part of Beijing Financial Street, can meet the demand for office leases in this area and is expected to bring stable rental income to the Group.

Expanding multi-channel services with "O2O New Retail Strategy"
In recent years, advancement of the Internet has accelerated the development of online retail, with the retail industry having entered a new business mode of "online + offline" interoperability. In order to seize the growing opportunities of online retail, the Group vigorously promoted the "O2O New Retail Strategy" and improved the new sales model for online and offline interoperability. To this end, the Group has introduced various stimulus measures to promote offline retail business growth through online channels such as Parkson's official WeChat account and mobile shopping mini-programs. In tapping customers' enthusiasm for consumption, the Group seizes the opportunity to encourage customers to visit Parkson stores in order to enhance their shopping experience.

Parkson's management commented, "Along with the ongoing COVID-19 crisis and Sino-US relations, the macroeconomic environment is expected to be unsettling in the coming year. Nevertheless, we remains optimistic about the performance of China's retail industry. As the COVID-19 situation in China stabilizes and the local retail market moves forward to gradual recovery, consumers are beginning to regain their inclination to spend. The inability to travel abroad due to the pandemic has in turn benefited local consumption. We will actively study and understand market trends and customer needs, broaden the product range of Parkson retail stores, and provide customers with a more diverse array of high-quality products in the future."

"We will also strengthen online marketing to attract offline retail sales. To this end, we will vigorously implement the "O2O New Retail Strategy" and strengthen the integration of online and offline retail experience, through social media networks (such as Douyin, WeChat), VIP projects and personalized customer services to satisfy retail industry changes and market demand, and expand market share through high quality products and services. We believe that with the Group's effective business strategies and extensive experience in the retail market over the past two decades, we can achieve sustainable stable performance in a challenging environment and create long-term value for shareholders."

About Parkson Retail Group Limited
Parkson Retail Group Limited ("Parkson") is a leading nationwide lifestyle retail operator in China. As of 31 December 2020, the Group operated and managed 40 Parkson stores (including the concept store "Parkson Beauty"), 1 Lion Mall, and 2 Parkson Newcore City Outlet in 28 cities in China; with its supermarkets, apparel and F&B outlets having evolved into a mature and complete retail industry landscape.

With over two decades of retail experience in China, Parkson understands market developments and consumer demand. The Group incorporates shopping, dining and entertainment elements, within a combination of offline and online channels to cater to young and middle-to upper-middle-income consumers.

This press release is disseminated by Bright Communication International Limited on behalf of Parkson Retail Group Limited.

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


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HONG KONG, Feb 23, 2021 – (ACN Newswire) – Analogue Holdings Limited (stock code:1977) together with its subsidiaries (referred to as "ATAL Engineering Group", "ATAL" or the "Group"), a leading electrical and mechanical ("E&M") engineering service provider headquartered in Hong Kong with operations in Macau, mainland China and the United States, has established its first company – Anlev (UK) Ltd in London, United Kingdom, marking its first foothold in Europe. Through its award-winning lifts and escalators brand, Anlev Elevator Group ("Anlev"), the expansion will enable the Group to provide one-stop services from design, manufacturing to installation and maintenance of lifts and escalators for customers in the UK and capture opportunities of the European market.

Dr. Otto Poon Lok-to, Chairman of ATAL Engineering Group, said, "When we established the lifts and escalators business back in 1991, we envisaged a company with 'A New Lift and Escalator Vision' and named it Anlev. Over the years, we have spent enormous efforts to expand the business with the mission to provide safe, comfortable, energy efficient and reliable lifts and escalators systems to the users worldwide. Today, we proudly serve millions of users in over 20 counties spanning across Asia, Australia, the Americas and Europe, and we have successfully gained the trust and confidence of our customers. With the newly established UK office, we are well positioned to further our global expansion in this business."

Over the decades, Anlev has been actively seeking new opportunities to expand its business across the globe. Last year, the Group successfully tapped the United States market by entering into an alliance with Transel Elevator & Electric Inc. ("TEI"), one of the largest independent lifts and escalators companies in New York. With its strong presence in the UK's public transport and commercial projects, Anlev is the only independent escalator manufacturer approved by Network Rail, the owner, operator and developer of most railway networks in UK. Anlev's escalators are used in many major stations such as Waterloo, Leeds, Paddington and Birmingham New Street. Well-known British supermarket chain ASDA Stores also adopted Anlev walkways in Sutton and other branches. With its new foothold in the UK, along with existing offices in Hong Kong, Macau, mainland China and the US, the Group believes that this strategic network will create synergy and provide comprehensive services to users around the world.

Anlev owns its R&D and manufacturing facilities in Nanjing, which provides custom design and manufacturing lifts, escalators and moving walkways that meet the highest international standards. In view of surging demand for these products, the Group has been expanding its manufacturing plant which is expected to be completed by 2022. Upon completion, the production capacity will be increased by three to five times to meet the growing demand and Group's expansion plan.

The Group's excellent safety and service quality has won many recognitions from industry leaders and government authorities. Anlev won the first place accolade in the ELEVATOR WORLD "2021 Project of the Year" contest with its Central-Mid-Levels Escalator and Walkway System modernisation project in Hong Kong, and became the only winning Asian company this year. The company has also obtained the highest grade in safety and quality performance under both the "Lift Contractors' Performance Rating" and the "Escalator Contractors' Performance Rating" systems of the Hong Kong Electrical and Mechanical Services Department (EMSD) for eight years since commencement of the quarterly rating systems in 2013.

Anlev is a leading player in Hong Kong, supplying a complete range of lift and escalator systems, including walkways, traction lifts, machine-room-less lifts and hydraulic lifts of any speed and capacity. Its lifts and escalators are used in major developments, such as transportation terminals, universities, hospitals and amusement parks. In the overseas markets, projects completed by Anlev in recent years include the provision of escalators for Metro Trains Melbourne and escalators and walkways for the Melbourne Airport T2 Expansion, as well as escalators at South Korea's first high-speed railway station. In Hong Kong, Anlev won its first public housing estate contract in 2019 for passenger lift modernisation works at Fu Shan Estate, followed by a current contract for heavy-duty freight lift design, supply and installation at the Hong Kong Palace Museum and the design, supply and installation works of lifts and escalators for the Queen Mary Hospital redevelopment project.

About ATAL Engineering Group
Established in 1977, ATAL Engineering Group ("ATAL") is a leading electrical and mechanical engineering service provider headquartered in Hong Kong, with operations in Macau, Mainland China, the UK and the US. Serving a wide spectrum of customers from public and private sectors, the Group provides multi-disciplinary and comprehensive E&M engineering and technology services in four major segments, including Building Services, Environmental Engineering, Information, Communications and Building Technologies ("ICBT") and Lifts & Escalators. ATAL's parent company, Analogue Holdings Limited, is listed on the Main Board of the Stock Exchange of Hong Kong (Stock Code: 1977).

About Anlev Elevator Group
Anlev Elevator Group ("Anlev") is a subsidiary of ATAL Engineering Group, specialising in provision of one-stop services from design, manufacturing, sales, installation, service, modernisation to maintenance of all forms of vertical or horizontal transportation systems around the world. Engineered for comfort, safety and energy efficiency, Anlev's complete range of lifts, escalators and moving walkways provide reliable and efficient transport systems for passengers in Asia, Australia, the Americas and Europe.



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HONG KONG, Feb 22, 2021 – (ACN Newswire) – 2020 proved to be a great year for Special Purpose Acquisition Companies (SPACs). The market saw more high-profile investors joining the party while a record number of companies went public through this unique structure. With a whopping US$80 billion raised by over 230 blank-cheque companies, SPAC IPOs not only represented approximately 50% of total IPO issuance in the US in 2020, the massive amount raised by SPACs even eclipsed traditional IPOs last year.

SPAC Trend Continues To Heat Up

While SPACs continue to be favoured by institutional and private investors alike in the US, they are also gaining momentum in Asia. Savvy investors in the East are catching up fast with the trend and among them is Black Spade Capital Limited, the family office of casino magnate Lawrence Ho Yau Lung.

"We aim to be one of the first Asian family offices to build an SPAC-themed portfolio," said Mr. Dennis Tam, President and CEO of Black Spade Capital. He added that "of course, we have to be selective – only high-quality SPACs with great potential are considered".

One catalyst, Two Criteria

Mr. Tam considers the current close-to-zero or, in some cases, negative interest rate environment as one of the catalysts that contribute to the success of SPAC IPOs. "Loose monetary policy means lower cost of funds and greater incentive for investors to look for new investments. SPACs enjoy a great start this year with over US$45 billion raised by more than 140 new SPACs to-date – the fact that both the number and size of SPAC deals in the first two months of 2021 represent some 56% of the full-year performance in 2020 reflects just how buoyant the SPAC market is. The whole SPAC trend has to do to a certain extent with the abundance of capital in the market seeking return. When the interest rate picks up, the trend may slow down" said Mr. Tam.

Mr. Tam commented that the family office places importance on the sponsors in terms of selection criteria. "There are two main criteria – sponsors' reputation and their track record. Sponsors are the face of an SPAC. They set out the road map of the investment vehicle. Their track record gives us a glimpse of what the sponsors are capable of. I always find one-on-one investor meeting a good way to learn about the vision and strategy that the sponsors have for their SPACs. A reputable sponsor boosts investor confidence. Some people point out that sponsors typically receive 20% of the equity in the SPAC; in my opinion, this mechanism helps align sponsors' interest with that of investors which is actually positive – as long as the sponsors deliver, they deserve a matching reward. After all, if the sponsors successfully acquire or merge with a promising target (i.e. de-SPAC), everybody wins" explained Mr. Tam.

The relatively straightforward structure of SPACs also begins to appeal to many family offices. "As the name suggests, an SPAC has the sole purpose of merging with a private company and taking it public. The tenor is usually capped at two years and the sector from which the SPAC identifies its acquisition target is announced before the SPAC is listed. The fund raised by an SPAC usually serves as a good indication of the size of the future target, which is typically 3x to 4x the size of the SPAC. This is the kind of clarity that investors appreciate," explained Mr. Tam. "Also, SPAC issuers offer to redeem the shares from investors at a call price equivalent to the IPO price if they do not like the acquisition target. This capital protection mechanism affords greater assurance to investors" added Mr. Tam.

Mr. Tam believes that investor education will encourage more Asian family offices as well as other investors in the region to participate in this SPAC trend. "We had several rounds of in-depth discussions with various investment banks and private banks before making our first SPAC investment last year," recalled Mr. Tam. "In the process, our bankers get to understand our investment appetite and selection criteria and are able to introduce different SPAC opportunities to us" said Mr. Tam.

In terms of Black Spade Capital's target return with regard to SPACs, "We have seen some truly impressive performance of certain star SPACs, such as QuantumScape and Draft Kings, which have realized a return of close to 10x and 4x, respectively, in 2020. Naturally, we look for above average return and we believe the key to achieve this is to invest in quality SPACs at the time of IPO" said Mr. Tam.

About Black Spade Capital Limited
Black Spade Capital Limited is an established family office that manages the private investments of Mr. Lawrence Ho. Headquartered in Hong Kong, its global portfolio consists of a wide spectrum of cross-border investments as it consistently seeks to add new projects and opportunities to its investment mix. Black Spade's investment strategy maximizes coverage of geographic regions and sectors whilst maintaining a portfolio of diversified asset classes, ranging from equity, fixed income, medical technology, leisure and culture, green energy, real estate to Pre-IPO investments.


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

HONG KONG, Feb 22, 2021 – (ACN Newswire) – Private capital funds in China face growing demands for transparency as mainstream investors increasingly turn to the sector to chase the higher returns it offers, new research* from Intertrust N.V. ("Intertrust Group" or "Company") [Euronext: INTER] reveals. Intertrust Group, a world leader in providing specialised administration services to clients in over 30 jurisdictions, estimates that around US$5.5 billion will need to be spent by the world's private capital funds industry to meet these increasing demands over the next five years.

A new report, entitled The future private capital CFO: Evolving in a digital age and created in partnership with Global Custodian, shows that CFOs at private capital funds in China expect their limited partners (LPs), many of which include sovereign wealth funds and state pension funds, to require data updates with increasing frequency over the next decade. In China, eight out of 10 (80%) respondents expect their investors to be looking for access to live or daily updates on portfolio performance and 71% on operational service level agreements (SLAs). More than half (58%) of the CFOs in China (57% globally) expect a need for daily or live updates on cybersecurity and 40% (51% globally) on environmental, social and corporate governance (ESG).

China's CFOs anticipate higher priority will be placed on portfolio performance and SLAs than their peers elsewhere: 64% and 50% of CFOs globally anticipate live or daily updates will be required for these respectively.

Although extensive investment will be required to meet these greater demands, they are also conflicting with private capital funds' traditional leaning towards confidentiality. Intertrust Group warns that private capital funds must either meet the demands or face significant competitive disadvantages and possibly regulatory pressures.

James Donnan, Regional MD, Asia Pacific at Intertrust Group, said: "For LPs in China, 'performance' is more than just returns. They want updates on KPIs such as cash or debt levels, daily sales or rent arrears and SLAs, all of which show how a business is being run in a complex market. GPs must focus more than ever on giving LPs the reassurance that comes with good information. This is only good investor relations at a time when there are immense opportunities in China and they need to increasingly compete for additional capital commitments."

The research also found that 27% of Chinese CFOs (compared to 21% globally) expect that meeting the demands for portfolio performance will incur the largest draw on their resources. Other factors expected to draw on resources include operations (21% in China; 19% globally); regulation (16% in China; 17% globally); cybersecurity (13% in China; 16% globally); investor demands (20% in China; 15% globally); ESG (2% in China; 6% globally); and diversity and inclusion (D&I) (1% in China; 6% globally).

In China, around one in four (24%) CFOs say they will respond to the increased demands by investing in technology, 23% say they will increase the size of their in-house finance teams, 22% will outsource more functionality, 18% will invest in distributed ledger functionality and 11% will retain the existing balance between in-house and outsourcing.

James added: "Outsourcing gives GPs access to the right people and systems with economies of scale, enabling them to focus on attracting and deploying capital. They should partner though with a services provider that has many years' experience in China and understands the complexities of both the domestic and international markets."

*Source: Global Custodian in partnership with Intertrust Group; a global sample of 300+ chief financial officers at private capital funds were surveyed between 20 November 2020 and 26 January 2021, including 54 in China

For more information

Katie Scott-Kurti
Head of External Communications
Intertrust Group
katie.scottkurti@intertrustgroup.com

Charlotte Bilney
Citigate Dewe Rogerson
Intertrust@citigatedewerogerson.com

About Intertrust Group

At Intertrust Group our 4,000 employees are dedicated to providing world-leading, specialised administration services to clients in over 30 jurisdictions. This is amplified by the support we offer across our approved partner network which covers a further 100+ jurisdictions. Our focus on bespoke corporate, fund, capital market and private wealth services enables our clients to invest, grow and thrive anywhere in the world. Sitting at the heart of international business, our local, expert knowledge and innovative, proprietary technology combine to deliver a compelling proposition – all of which keeps our clients one step ahead.



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

HONG KONG, Feb 19, 2021 – (ACN Newswire) – IBI Group Holdings Limited ("IBI" or the "Group"; Stock Code: 1547), a building contractor focused on providing renovation services as main contractor for property projects in the private sector in Hong Kong and Macau, has officially announced the launch of its subsidiary, Building Solutions Limited ("BSL" or the "Company"), with the mission to create healthy, productive and efficient environments through the use of innovative and high tech solutions.

BSL is a solutions provider that offers innovative products and solutions aimed at enhancing the performance and well-being of the built environment. With its focus on air quality and green technologies, BSL believes strongly in improvements based on science, data and a deep sense of caring for the human condition. The Company sources, customises and implements innovative and high-tech solutions to help its clients create healthy and productive environments. Headed by Mr. J S Gan, a leading professional with extensive business experience in Asia and with expertise in innovative technologies, Gan provides practical insights to BSL to expand its market in Asia while upholding the mission to improve human health and productivity.

Mr. Neil Howard, Chairman and CEO of IBI, said: "It is my honor to present the new subsidiary which marks another significant milestone for the Group. With the presence of BSL, we have tapped into a new market with the ability to offer diversified and innovative products and solutions. We intend to leverage IBI's reputation and leading position in the building industry to market this new offering and thus provide both entities with the ability to increase their market share in Asia. The Group expects great synergies to be generated between the two parties and is looking forward to increased income for the Group as a whole."

BSL has already entered into partnerships with several industry leaders namely Awair, a Silicon Valley based global leader in air quality monitoring and smart sensing technology and Purion, a German based leading market player specialising in the disinfection of air through UV light technology. A diversified products portfolio strengthens BSL's ability to serve customers with impactful building solutions.

Adopted by leading global organisations such as Airbnb, Harvard University, Savills and Swire, Awair offers all-in-one environmental sensors, helping users to monitor air quality based on temperature, humidity and air pollutants, data that is key to implementing air quality improvement solutions.

Purion, a leading provider of UV disinfection technology, provides highly effective and certified equipment which uses Ultraviolet Light (UV) to disinfect air, surfaces and water, killing off microorganisms and countering airborne diseases. The disinfection systems have been used by prominent enterprises including Microsoft, SAP and Max Planck Institute and is currently used in numerous food preparation areas within Europe.

Leveraging from its cooperation with these industry leaders, BSL is an authorised RESET representative which employs a standard and certification program focused on data quality and actionability for healthy and sustainable built environments. BSL also offers full-scope services that enable clients to monitor air quality in their built environment, solutions to improve indoor air quality, and to RESET certification of space.

Mr. J S Gan, Co-founder and Managing Director of BSL, said: "Given the rising public awareness of personal and environmental hygiene, we hope to improve people's living quality by sourcing various wellness equipment and customising building solutions with innovative and high-end technology, aimed at creating healthier environments for end users. With over 20 years of experience and knowledge in setting up successful businesses in related market across Asia, I am thrilled to lead the company through its next phase of growth, assisting our clients to enhance the sustainability, productivity and wellness of the built environment, especially during the COVID-19 pandemic."

About IBI Group Holdings Limited (stock code: 1547)
Established in Hong Kong in 1997, IBI Group Holdings Limited is a leading building contractor focusing on providing renovation services as a main contractor for property projects in the private sector in Hong Kong and Macau. Its major customers include a number of reputable organisations and commercial enterprises, including a horse racing and betting operator in Hong Kong, multinational banks, international hotel groups and hotel and casino operators. For more information, please refer to IBI's website: https://ibighl.com/.

About Building Solutions Limited
Building Solutions Limited is a subsidiary of IBI Group Holdings Limited focusing on air quality and green technology. Believing in improvements based on science, data and deep sense of care for the human condition, BSL sources, customises and implements innovative and high-tech solutions to help create healthy, productive and efficient environments. Its major customers include large hotels and resorts, international companies, hospitals and schools, landmark and heritage buildings. For more information, please refer to BSL's website: https://hkbsl.com/.

Media Enquiries:
Strategic Financial Relations Limited
Heidi So +852 2864 4826 heidi.so@sprg.com.hk
Stephanie Liu +852 2864 4852 stephanie.liu@sprg.com.hk
Adrianna Lau +852 2114 4987 adrianna.lau@sprg.com.hk
www.sprg.com.hk


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

HONG KONG, Feb 18, 2021 – (ACN Newswire) – Lever Style Corporation ("Lever Style" HKEX 1346) announced the acquisition of Champion System Limited ("Champion System").

Champion System is a Hong Kong-founded apparel brand with global appeal that is sold in the US, all over Europe, Asia and Australia. Champion System's custom technical apparel has been of worn by Hong Kong, New Zealand and Malaysia's Olympic teams, National and World Champions, and recreational athletes of all levels.

Lever Style's versatile multi-country platform now produces a full range of men's and women's apparel in a wide variety of textiles. The new acquisition builds Lever Style's specialist production capabilities in the rapidly-growing global active wear category. Increasingly, consumers want every day sportswear that is comfortable, versatile, and fashionable. Lever Style already produces technical outerwear for brands such as Mammut, Mountain Equipment Co-op, Helly Hansen, and Black Diamond.

"Champion System's passionate commitment to innovation and performance apparel will enhance our ability to serve this growing lifestyle segments," said Stanley Szeto, Executive Chairman, Lever Style. "Since listing on HKEX, we have made four acquisitions that deepen our ability to meet all our clients' apparel supply needs and provide turnkey solutions across all apparel categories."

Champion System collaborates with the world's top athletes such as 2020 Tour de France winner Tadej Pogacar and track cycling world champion Sarah Lee (named Hong Kong's top athlete five times). Champion System pioneers innovative, race-proven garments such as the Aero Speedsuit for cyclists that can be customised with virtually any design. They developed Olympic clothing using the Hong Kong's University of Science and Technology's wind tunnel, revolutionised sublimation printing and redefined garment construction. They also produce training gear for elite police units worldwide, and for eSports.

"Champion System is our first foray into a direct-to-consumer brand, and gives us the technical capability to supply Olympic-level sportswear for all our existing B2B clients," said Szeto. "They sell a lot of custom-made apparel, so we'll learn that capability too and apply it to our other product categories."

"With our knowledge of leading-edge textiles, and enhanced technical fit, quality, innovation and product development capabilities, we have the best offering for both established labels and digital retail brands, said Szeto." With global retail sales systematically migrating from physical stores to ecommerce, the ability to flexibly serve the demands of ecommerce brands and retailers is increasingly important in the market.

The acquisition will be completed in the foreseeable future and the Champion System business operations will be fully integrated into the Lever Style platform.

About Champion System Limited
Champion System, a worldwide leader in custom technical apparel, was founded in 2005 and has quickly earned the reputation as a company offering the finest quality handmade garments for a wide range of sports and activities. Strong customer relationships and close collaboration with the world's top athletes have been key to Champion System's success. Our distinctive and stylish garments are worn by Olympians, National and World Champions, and recreational athletes of all levels. Learn more at: www.champ-sys.com.hk

About Lever Style Corporation
Lever Style is the product engine for digital retail, including brands and platforms such as Bonobos and Stitch Fix. We also meet the demands of designer labels such as Paul Smith, and premium contemporary brands such as Hugo Boss, Theory, All Saints, Vince and Rag & Bone. We offer an industry-leading range of product categories for both men and women, in a full offering of fabrics. Our supply chain solutions encompass fashion design, prototype development, raw material procurement, production oversight, quality control, and logistics.

Learn more at: www.leverstyle.com

Media Enquiries:
Strategic Financial Relations Limited
Vicky Lee +852 2864 4834 vicky.lee@sprg.com.hk
Angela Wong +852 2114 4953 angela.wong@sprg.com.hk
Keith Ho +852 2114 2340 keith.ho@sprg.com.hk
www.sprg.com.hk




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

HONG KONG, Feb 18, 2021 – (ACN Newswire) – DCH Auriga, one of the largest healthcare distributors in Hong Kong, is pleased to announce it has been selected by the Hong Kong Department of Health to exclusively manage the storage and delivery of the Sinovac vaccine in Hong Kong.

Under the agreement, DCH Auriga Hong Kong Ltd. will leverage its specialty cold chain expertise and unique healthcare-dedicated infrastructure for the safe and timely distribution of the Sinovac COVID-19 vaccine.

Tim Collins, the CEO of DCH Auriga said, "We are honoured by the continued trust and support of the Hong Kong Department of Health and for the opportunity to leverage our capabilities to benefit our local community. With decades of experience managing pharmaceutical cold chain distribution, state-of-the-art facilities and robust quality assurance protocols, we are confident in our ability to safely and securely deliver the Sinovac vaccine in full accordance to the directives of the Government's vaccination program."

About DCH Auriga

DCH Auriga, a subsidiary of Dah Chong Hong Holdings Limited, is an Asia-based market management provider specialising in healthcare. Offering comprehensive commercial and logistics solutions, DCH Auriga partners with the world's leading healthcare companies to distribute pharmaceuticals, medical devices, surgical equipment, diagnostics and OTC products for more than 500 brands into hospitals, pharmacies and specialty stores across Asia. DCH Auriga has operations in Hong Kong, Macao, mainland China, Singapore, Malaysia, Indonesia, Thailand and the Philippines.

For more details, please visit www.dchauriga.com.

Dah Chong Hong Holdings, an indirect wholly owned subsidiary of CITIC Limited (stock code: 0267.HK), is an integrated trading and distribution company operating in Asia, supported by an extensive logistics network. DCH is a leading distributor and dealer of motor vehicles in Greater China as well as a provider of a full range of associated services. DCH's consumer business comprises the manufacture, retail and distribution of food, healthcare, electrical appliances, beauty and lifestyle products. DCH employs over 16,500 staff with operations in 12 Asian markets.

For more details, please visit www.dch.com.hk.

Media Enquires:

DCH Communications | (852) 2768-2017 | dchcommunications@dch-holdings.com


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