MELBOURNE, AUSTRALIA, Aug 26, 2023 – (ACN Newswire) – Leading trading broker Mitrade continues its impressive track record and has won several awards and made innovative improvements this year. Recognized with two prestigious awards from the Global Banking Finance Awards: one for the “The Next 100 Global Awards 2023 – Trading Platform” and another for “Forex Customer Satisfaction & Happiness Asia 2023”. On top of that, they’ve also received an award from World Finance as the “Best Multi-Asset Broker”. This solidifies Mitrade’s position as a frontrunner in the industry.
Mitrade receives three fintech awards; Forex Customer Satisfaction & Happiness Asia 2023 (left), The Next 100 Global Awards – Trading Platform (middle), and Best Multi-Asset Broker from World Finance (right).
Earlier this year, Mitrade announced its recent branding upgrade “Trade Faster, Trade Smarter” and received two other awards, “Best Mobile CFD Trading Platform Asia Pacific” and “Fastest Growing Forex Fintech Broker Global” from Global Brands Magazine.
Mitrade’s spokesperson shared: “At Mitrade, we have always believed in pushing boundaries and striving for the highest standards, crafting the ultimate trading experience for our clients. This recognition reaffirms that our efforts are making a positive impact on the industry. We’re grateful to our clients for their ongoing support and for motivating us to keep getting better.”
About Mitrade:
Mitrade is a leading global online CFD trading platform that offers a diverse range of financial instruments to traders worldwide. With over 400 markets to choose from, traders have unparalleled opportunities to engage in various assets, including stocks, commodities, currencies, and indices. Whether it’s exploring the stock market, delving into the intricacies of forex trading, or navigating the world of commodities, Mitrade provides a comprehensive selection of trading products. For more information, please visit www.mitrade.com.
HONG KONG, Aug 25, 2023 – (ACN Newswire) – On 25 August 2023, China Everbright Limited ("CEL" or the "Company", stock code: 165.HK) announced its interim results for the six months ended 30 June 2023 ("the reporting period").
Financial Highlights of 2023 Interim Results — The overall operating revenue was HK$1.54 billion, representing a steady increase in overall operating results — Profit attributable to shareholders of the Company was HK$313 million, realising a turnaround from loss to profit. — Fund raising continued and total AUM reached approximately HK$154.8 billion. — Diversified exits achieved a cash return of approximately HK$3.244 billion — Maintained strong liquidity with cash and cash equivalents of approximately HK$10.406 billion and unutilised bank facilities available for use of approximately HK$10.222 billion. — Maintained dividend with interim dividend: HK$0.15 per share
In the first half of 2023, confronted with the challenges of a volatile and intricate global financial environment, CEL steadily adjusted its business strategy, accelerating the Company's transformation and development. With a rebound in the capital market, the performance of the fund management business improved significantly and investment returns markedly increased, driving the steady increase in the Company's overall operating results. During the reporting period, CEL achieved an overall operating revenue of HK$1.54 billion, and the profit attributable to shareholders of the Company was HK$313 million, representing a significant elevation from the same period last year and marking a turnaround from a loss to a profit.
During the reporting period, CEL continued its fundraising efforts and raised new funds of HK$1.302 billion. CEL's total assets under management (AUM) reached HK$154.8 billion with 78 funds. The Company's diversified exit channels resulted in good returns, with a total capital return of HK$3.244 billion from the exit business.
To share the fruits of the Company's development with shareholders and investors, the Board of Directors declared interim dividend of HK$0.15 per share for 2023. (2022 interim dividend: HK$0.15 per share).
Business Highlights of 2023 Interim Results
1. Fund Management Business In the first half of 2023, CEL reinforced its management in fundraising, investment, management and exit business, strengthened its internal control, and continued to improve its risk-prevention ability to achieve a gradual transition into high-quality development and maintain its leading market position in the field of fund management in China.
Fundraising proceeds steadily. Despite fundraising difficulties in industries, CEL Yixing FoFs was newly established and raised new funds of HK$1.302 billion. The new fund will mainly focus on industries including energy conservation, environmental protection, integrated circuit, and new energy, with a view to serving the economic development of the Yangtze River Delta region.
Capture investment opportunities prudently. During the reporting period, CEL maintained a prudent attitude and invested in key projects including Grit Science and Reforgene Medicine.
Gain remarkable income from exit business. There was a capital return of HK$3.244 billion in total from the exit business in key projects including ASR Microelectronics, Googut, Three's Company Media, Ambrx, and Rici Healthcare, realising an income of approximately HK$1.232 billion against costs, contributing good investment returns and cash inflow for CEL.
2. Key Investee Companies CALC grows steadily. Since the end of 2022, the number of CALC's aircraft increased by 13 to 189, and now consists of 162 owned aircraft and 27 managed aircraft. CALC's owned and managed aircraft are leased to 42 airlines in 20 countries and regions.
Everbright Senior Healthcare continues improving competitiveness. It constantly optimised the three-level elderly service model featuring institutional, community-based, and home-based elderly services, improved the ability of "Medical + Senior Healthcare", "Insurance + Senior Healthcare" and "Service + Senior Healthcare". It has 190 institutional and community service centers covering over 50 cities across the country, forming a deployment covering the Beijing-Tianjin-Hebei region, Yangtze River Delta, and Chengdu-Chongqing Economic Circle, with more than 32,000 beds under management.
Terminus achieves highly industry recognition. Terminus actively promoted market expansion, focused on high-growth business opportunities, and comprehensively enhanced its overall strength. During the reporting period, in collaboration with The Hong Kong University of Science and Technology (Guangzhou), the "Digital World" Joint Research Center was established to advance major scientific research projects and applications in the field of Artificial Intelligence of Things (AIoT). Terminus received multiple honours and has been widely recognised in the industry, including being awarded the "2023 AIGC Application Scenario Innovation Top 50" by EqualOcean.
3. Rich Resource Reserves Retain sufficient liquidity reserve. At the end of June 2023, CEL had cash and cash equivalents of approximately HK$10.406 billion and unutilised bank facilities available for use of approximately HK$10.222 billion, representing a sufficient liquidity condition.
Increase the coverage depth of technology innovation resources. The incubator at China Everbright Hong Kong Innovation Centre hit and beat the target earlier than expected by introducing six new enterprises and attracting the first foreign enterprise.
Serve key regional development. CEL carried out in-depth overall planning for the Beijing-Tianjin-Hebei region, the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area, increased investments in real economy, supported and served major national strategies, and served the domestic and international "dual circulation" actively.
4. Continuous Improvement of Environmental, Social and Governance Fulfil social responsibilities. CEL assisted in launching the "Millions of Youngsters in China and Thousands of Doctors in the Divine Land" programme. The Company also participated in the HKSAR's "Strive and Rise Programme" for youth development and aims to expand the horizon of Hong Kong's youth through the promotion of arts and culture.
Improve ESG management policy on an ongoing basis. CEL issued separate and self-contained ESG reports to disclose information in relation to responsible investment and TCFD. CEL closely followed changes in the industry and was rewarded with a continuous increase of MSCI ESG rating with the latest score of 5.2.
Improve the Company's management policy on an ongoing basis. CEL continued improving the institutional construction of funds establishment and management to promote an operation in compliance with laws and regulations on an ongoing basis. CEL addressed external risk-related issues and strengthened risk prevention and review, and organised training sessions on new regulations for the private equity fund industry to raise awareness about operating in compliance with laws and regulations.
Looking ahead to the second half of 2023, with continued coordinated efforts in macroeconomic policies and the sustained recovery of the economy, there will be significant resilience and potential for development. CEL will insist on the general principle of ensuring stability and promoting high-quality development as a cornerstone, while giving priority to performance in order to continuously improve the core competitiveness of private equity investments.
In terms of fundraising, CEL will develop fund products with a focus on advantageous industries, laying a foundation for the growth of its asset management portfolio and revenue enhancement. In terms of investments, the Company will focus on specialised industries with competitive advantages, particularly technological innovation companies, and strictly select specialised and new enterprises, consumer goods and environmental companies. CEL will continue to strengthen post-investment management and build solid lines of defence against risks to ensure investment projects are "clear, manageable and rewarding". In terms of investment exit, the Company will continue to exit expeditely with better strategies.The Company will continue to increase efforts to exit from existing investment projests through M&A, transfer and IPO, so as to recover funds.
Mr. Zhang Mingao, Executive Director and President of China Everbright Limited, said: "In the first half of 2023, there was steady recovery in the Chinese economy and a significant upturn. CEL upheld a firm development confidence, steadily adjusted business strategies and accelerated transformation and development. The overall operational performance stabilized and rebounded, successfully achieving a turnaround of losses into profits. Going forward, CEL will focus on developing the private equity investment management market and maintaining its strategic focus on long-term investments while continuing to deploy our specialized industries with unique strengths. CEL will seize the fundamentals of Chinese economic recovery, firmly grasp the period with opportunities brought by the industrial policy adjustments and proactively push forward business transformation to optimize the full-chain equity investment system of 'fundraising, investment, management and exit', and achieve high-quality development of the cross-border asset management market to bring long-term sustainable growth returns to shareholders and investors."
HONG KONG, Aug 25, 2023 – (ACN Newswire) – VCREDIT Holdings Limited ("VCREDIT" or the "Group"; stock code: 2003.HK), a leading independent online consumer finance provider in China, announced its unaudited interim results for the 6 months ended 30 June 2023 (the "Period").
During the Period, the Group continued optimizing and innovating business strategies and models, enhancing technological capabilities, and maintaining a focus on higher quality borrowers. Total income was RMB1,917.6 million, with an adjusted net profit of RMB303.5 million. The Board has recommended the distribution of an interim dividend of HK15 cents per ordinary share of the Company.
During the Period, the Group delivered a robust operating performance and achieved strong growth which in line with expectation. Meanwhile, the Group continues to enhance the risk management framework to adapt to market dynamics and changes in user behavior, and sustain an ordered transition towards higher quality borrowers. The Group's loan origination volume reached RMB36.2 billion for the Period, representing growth of 46.9% compared to the six months ended 30 June 2022 and an increase of 31.4% compared to the six months ended 31 December 2022. Outstanding loan balance exceeded RMB31.4 billion as of 30 June 2023, representing an increase of 25.1% compared to RMB25.1 billion as of 31 December 2022.
Continue to increase in research and development, empowering the business with technology The rapid advancement of artificial intelligence is shaping and accelerating the digital transformation of consumer finance in the era of the digital economy. The Group is proactively embracing change by implementing revolutionary upgrades to its core business system. In the first half of 2023, the Group formally launched VCREDIT operating system (VOS), a new generation platform that streamlines its business modules, enhances the system architecture and significantly boosts research and development efficiency. Meanwhile, with the help of artificial intelligence big language model, the Group has launched an AI intelligent online customer service robot, which continuously improves the timeliness of user demand response and the convenience of process operation, further optimizing the user's interactive experience.
Strategy of targeting and retaining better-quality customers and protecting their rights The Group continues to expand high-quality customer acquisition channels. It has formed cooperative agreements with well-known content platforms, photo editing applications, internet-based logistics platforms and other premium channels. By improving user behavior analysis model and user profile segmentation, the Group achieves greater accuracy in push to high-quality customers. During the Period, the Group's cumulative registered users increased by 7.1% as compared to the second half of 2022. For existing customers, the Group continued to improve its user experience by introducing an user willingness model to help raise brand recognition and improve user loyalty. In the first half of 2023, repeat loan customers accounted for 82.1% of the total loan volume.
The Group undertook a series of impactful model upgrades and complex testing. It has proactively adjusted its post-loan management risk strategy and implemented better customer services solutions as well the credit agency reform, namely "Duanzhilian", in order to effectively protect user privacy and information security, achieving proactive compliance reform as well as equip to achieve a balance between short-term risk and long-term returns.
Significant collaborations to further expand asset-light approach and diversify the business By the end of the Period, the Group had effective relationship with 96 external funding partners, including 21 national joint-stock commercial banks, consumer finance companies and trusts, which enabled the Group to create a wide-ranging and varied funding framework to support its goals. By leveraging the funding flexibility and capital protection provided by third party guarantors and asset management companies, the Group has focused more on our pure loan facilitation model and moved towards an asset-light approach.
In addition to maintaining growth in its existing consumer finance business, the Group has made significant steps in line with strategy to expand and diversify its business to different industries and regions to establish a diversified operating models. In the first half of 2023, the Group launched the new consumer finance brand "CreFIT" in Hong Kong, providing consumer finance products tailored for the local market. Furthermore, the Group has agreed to acquire Banco Portugues de Gestao, S.A, which is a credit institution registered with the Bank of Portugal. This acquisition will enable the Group expansion into Portugal and Europe.
Outlook The macro environment is constantly changing and evolving, which requires the Group to respond in a prompt and effective way to remain competitive. In order to contribute to further growth in its consumer finance business and fulfill the financial needs of high-quality customers, the Group will strive to hone its business strategies and upscale its technology. In addition to growing the Group's existing consumer finance operation in China, the Group will also look to expand and diversify its business strategies by investing or collaborating in or acquiring similar, related or complementary businesses and industries in other jurisdictions including Hong Kong, South-East Asia and Europe. The Group will continue to review potential investment opportunities and business prospects on a constant basis and make suitable investments and acquisitions as opportunities occur.
Looking forward, the Group intends to continue to execute these strategies to maintain its growth in the industry, including streamline and extend its credit solutions to better serve its customers to improve brand recognition and loyalty and creditworthiness of its customer base; enhance risk management capability through deployment of evolving technology and artificial intelligence; strengthen long-term collaborations with licensed financial institutional partners and other business partners; ensure its business is conducted within applicable regulatory parameters to achieve regulation-centric sustainability; review and assess potential business prospects and invest or collaborate in or acquire similar, related or complementary businesses and industries in China and other jurisdictions; cultivate a dynamic enterprise value and culture and grow its in-house talents.
About VCREDIT Holdings Limited (2003.HK) VCREDIT Holdings Limited (stock code: 2003.hk) ("VCREDIT") is a leading player in China's consumer finance industry with over 10 years of track record. The Company caters to prime and near-prime borrowers underserved by traditional financial institutions by offering online consumption products. To match the funding needs for these products, the Company primarily engages institutional funding partners through three types of sustainable and scalable funding structures: trust lending, credit-enhanced loan facilitation and pure loan facilitation. Through such funding structures, VCREDIT provides institutional funding partners with solutions at varying levels of risk discretion and flexible profit-sharing arrangements. Website: https://en.vcredit.com/
For enquiries, please contact Hill+Knowlton Strategies Asia: Diva Ding / Jennifer Wong Tel: (852) 2894 6325 / (852) 2894 6255 Email: vcredit@hkstrategies.com
HONG KONG, Aug 24, 2023 – (ACN Newswire) – Genertec Universal Medical Group Company Limited (the "Universal Medical" or "Company"; Stock Coke: 2666.HK) is pleased to announce the interim results for the six months ended 30 June 2023.
Since 2023, the company served the "Healthy China" strategy and continued to expand its footprint in the healthcare sector, dedicated to promoting high-quality development for improving quality and expanding quantity with expected stability and energetic growth, and continued to realize the vision of "To Be the Most Trusted Global Leader in Medical & Healthcare Services". In the first half of 2023, the company recorded a revenue of RMB6,634.4 million in total, up by 16.1% as compared to the corresponding period of the previous year. In particular, the healthcare business recorded a revenue of RMB3,646.1 million, up by 33.8% as compared to the corresponding period of the previous year, with its proportion to the total revenue increased to 55.0%; the company recorded a profit for the period of RMB1,193.6million, up by 1.5% as compared to the corresponding period of the previous year, of which, the healthcare business contributed RMB231.6 million, up by 61.1% as compared to the corresponding period of the previous year; the company recorded a profit attributable to owners of the parent of RMB1,093.2 million, up by 0.3% as compared to the corresponding period of the previous year, of which, the healthcare business contributed RMB174.0 million, up by 88.0% as compared to the corresponding period of the previous year; and the company recorded a return on total assets (ROA) of 2.96% and a return on equity attributable to ordinary shareholders (ROE) of 15.25%. The indicators of income and the assets conditions maintained a steady and excellent performance.
Integrated Healthcare Service Steady Development: the Net Profit Margin of the Medical Institutions Increased to 5.28%
The medical institutions are not only the company's core resources to build a healthcare conglomerate, but also the R&D and training center of the Group's discipline operation, training center of the Group's discipline operation, as well as the project cultivation and commercialization pool and the sharing center for basic resources and practice of the industrial units. With respect to the integrated healthcare service segment, focusing on the development of the hospital group's core capacity, the company continuously build up the competition advantages of central state-owned enterprises in running medical care,so as to facilitate positive and continuous development of Hospital of SOEs and constantly improve operation efficiency and effectiveness. As at 30 June 2023, the number of consolidated medical institutions increased to 55 (including four Grade III Class A hospitals and 26 Grade II hospitals), with a capacity of 13,893 beds in total. In the first half of the year, the consolidated Hospitals of SOEs contributed to the company a revenue of RMB3,528.0 million, up by 33.4% as compared to the corresponding period of the previous year; recorded a profit for the period of RMB186.4 million in total, up by 62.0% as compared to the corresponding period of the previous year; and the net profit margin was 5.28%, up by 0.93 percentage point from the same period of the previous year.
Specialties and Healthcare Industry Accelerating Growth: Continuous Enhancement of Competitiveness via Internal & External Strategies
With the business foundation and professional core talent team of its own hospital group, the company strived to build replicable capabilities of specialties and industry operation while serving internal quality and efficiency enhancement, so as to create new profit growth drivers for the listed company. The performance contribution of this business segment mainly comes from providing hospital clients with life cycle management of medical equipment, medical devises sales and internet-based healthcare services.
In the field of nephrology, the company will focus on enhancing the core capabilities for nephropathy diagnosis and treatment of primary level hospitals, the establishment of nephropathy diagnosis and treatment flagship centers and municipal and provincial key specialties and the construction of high-quality blood purification centers. The company continuously deepened the industry layout of nephrology specialties through the scientific research results supported by digitalization. Up to the current moment, the company opened 21 new specialties departments in its member hospitals, continued to build a rapidly replicable operating system, and gradually leading to cooperation with external hospitals. In the first half of 2023, the company founded the nephropathy industry research institute, and have completed the acquisition of Beth Hesda Nephrology Hospital and Haiyang Senzhikang Hospital Co., Ltd.
In the field of oncology, the company continues to push forward the construction, operation and standardization of tumor precision diagnosis and treatment centers, pool internal and external resources to build the flagship tumor specialty diagnosis and treatment benchmark inside and outside the hospital group, develop tumor radiotherapy business product solutions, expand the chain business scale through investment/construction, and promote the standardized, collaborative and efficient development of oncology specialties.The tumor precision diagnosis and treatment center of Ma'anshan MCC17 Hospital operated by the company was opened in March 2023. In June 2023, the company concluded a cooperative arrangement with Mevion Medical Group, under which both parties will jointly establish a tumor precision medical service company as the sole platform to provide oncology radiotherapy services by both parties in the PRC, with an aim to accelerate the establishment of leading oncology diagnosis and treatment business system and intelligent oncology diagnosis and treatment platform in the PRC, continuing to empower the development of the external and internal hospitals of the company.
From the perspective of the life circle management of equipment, the company relies on its own hospital group as a team capability training and business practice base to provide hospital customers with life cycle management services for medical equipment from procurement planning, repair and maintenance to refined operation management. Based on its equipment management and operation capabilities and financial strength accumulated over the years, the company believe that it can achieve rapid improvement of the business scale and core capabilities of the equipment life cycle management through endogenous development and extensional mergers and acquisitions. So far, the company was entrusted the operation of 14 hospitals with the assets under management with a value over RMB3 billion. The value of contracts entered into in the first half of 2023 amounted to over RMB90 million. In August 2023, the company acquired 85% equity interests of Casstar Medical Technology Wuxi Co., Ltd. ("Casstar") at the consideration of RMB467.5 million. Casstar is recognized as a high-tech enterprise, a provincial specialized and sophisticated small and medium-sized enterprise, and a provincial gazelle enterprise, and has been committed to providing maintenance services for various type of medical imaging equipment since its establishment, with maintenance capacity covering mainstream medical imaging equipment, as well as life emergency, respiratory anaesthesia, hemodialysis and ultrasound equipment. It served a total of over 1,500 hospitals and maintained long-term cooperation relationship with more than 500 hospitals with asset under management of over RMB10 billion, providing nationwide service capacity. It also has a number of intellectual right patents, enjoys core strength in the Internet of Things, digital development and other fields, and is a leading enterprise with great influence in the industry. This acquisition will provide strong support for the company to improve its core competitiveness in the life cycle management equipment, and will accelerate the implementation of the company's industry consolidation strategy, so as to facilitate rapid development of its business.
Financial Business Resilience: Solid Profitability and Asset Quality, Continuous Financing Structure Optimization.
In 2023, faced with the impact of various factors such as increasing financing costs in the overseas markets, intensified market competition at home, tightening financial regulation and shortage in quality assets, the company always took risk control as a top priority, and were committed to ensuring quality project development for our customers. By keeping abreast of the market development, the company strived to arrange financing structure properly, so as to ensure liquidity sufficiency and security while minimising the pressure of rising costs as a result of US Dollar interest rate hikes on the offshore markets. In the first half of 2023, the company recorded income of finance business of RMB2,988.2 million in total, remaining stable as compared with the corresponding period of the previous year. As at 30 June 2023, its net interest-earning assets reached RMB71,764.5 million, representing an increase of 10.0% as compared to that at the beginning of the year; the non-performing asset ratio was 0.98%; the overdue ratio (30 days) was 0.88%, and the provision coverage ratio was 255.06%.
Given that the current domestic and international economy and financial markets continue to be confronted with many risks, challenges and uncertainties, Universal Medical will continue to promote the steady and safe development of its finance business, and give full play to the finance business to empower the development of the medical care industry, so as to build a solid moat for the high-quality development of a central state-owned and listed enterprise.
It is worth mentioning that in terms of high-quality development of listed companies, Universal Medical has been continuously enhancing its ESG construction and fulfilling its social responsibilities as a central state-owned enterprise. The company has been actively engaged in medical assistance in Xinjiang, Tibet, and overseas, and the "XinYan Public Welfare Fund" has provided assistance to over 500 patients, effectively meeting the clinical treatment needs of critically ill patients in economically disadvantaged areas. In April, the company successfully launched the first "Rural Revitalization" labeled medium-term notes, and in July, it successfully secured the first domestic syndicated loan in line with green loan principles. The company has also been selected as one of the "China ESG Top 100 Listed Companies" released by the China Central Television, ranking 62nd. In the future, the company will continue to adhere to the principle of seeking progress while maintaining stability, promote high-quality development, and strive for new breakthroughs, creating greater value returns for all shareholders.
For further information, please contact: PEANUT MEDIA LIMITED Direct Line: +86-755-61619798 x8210 Email: hswh.project@czgmcn.com
HONG KONG, Aug 24, 2023 – (ACN Newswire) – Emperor Watch & Jewellery Limited (the "Group" or "Emperor W&J") (Stock code: 887), a leading retailer of European-made watches and fine jewellery, is pleased to announce its encouraging interim results for the six months ended 30 June 2023 (the "Period").
Results Snapshots — Total revenue soared by 41.6%: the Group delivered satisfactory results, with its total revenue surging to HK$2,330 million (2022: HK$1,646 million) and gross profit rising by 38.1% to HK$725 million (2022: 525 million)
— Revenue growth of 64.8% in mainland China and 49.7% in Hong Kong: the mainland China market exhibited strong growth, with its revenue totalling HK$712 million (2022: HK$432 million), accounting for 30.6% (2022: 26.2%) of total revenue; due to the resumption of travel and revival of luxury consumption momentum, revenue from the Hong Kong market increased to HK$1,153 million (2022: HK$770 million), accounting for 49.5% (2022: 46.8%) of the total revenue
— Sales revenue up by 86.3% in the jewellery segment and 31.9% in the watch segment: the sales revenues from the jewellery and watch segments increased to HK$544 million (2022: HK$292 million) and HK$1,786 million (2022: HK$1,354 million), respectively, accounting for 23.3% (2022: 17.7%) and 76.7% (2022: 82.3%) of the total revenue, respectively
— Net profit doubled: due to the revenue surge and the operating leverage enjoyed by the Group, the Group's net profit increased significantly, by 116.3% to HK$186 million (2022: HK$86 million), and basic earnings per share increased to HK2.74 cents (2022: HK1.27 cents)
— Net cash position: as at 30 June 2023, the Group's bank balances and cash on hand had increased to HK$843 million (31 December 2022: HK$664 million), and the Group did not have any bank borrowings
— Distribution of interim dividend: the Board has declared an interim dividend of HK0.76 cent (2022: HK0.38 cent) per share
Ms. Cindy Yeung, Chairperson of Emperor W&J, said, "The reopening of borders between Hong Kong, Macau and mainland China in early 2023 has driven the recovery in general mobility and business activities; the tourism and retail industries in the region have thereby regained growth momentum, which positively impacted the Group's business performance."
Mr. Ricky Ng, Chief Executive Officer of Emperor W&J, said, "The mainland China and Hong Kong markets are our development focus and we will continue expanding our footprint there. In the meantime, considering the macroeconomic headwinds, the Group will be prudent in the course of expansion, and continue exercising stringent operating cost control, in order to maintain operating efficiency in times of instability and enhance its profitability."
As at 30 June 2023 the Group had a total of 91 stores in Hong Kong, Macau, mainland China, Singapore and Malaysia. During the Period, the Group opened one jewellery store in Hong Kong and two jewellery stores in mainland China. While further expanding its network of stores, the Group will continue focusing on residential areas in Hong Kong and prominent cities in mainland China.
About Emperor Watch & Jewellery Limited With long establishment history of over 80 years in Hong Kong since 1942, Emperor W&J (887.HK) is a leading retailer principally engages in the sale of European-made internationally renowned watches, and fine jewellery products under its own brand, "Emperor Jewellery". Through its comprehensive watch dealership, unique marketing campaigns and extensive retail network at prime locations in Hong Kong, Macau, mainland China, Singapore and Malaysia, Emperor W&J established a strong brand image amongst its target customers ranging from middle to high income groups worldwide. In recognition of its efforts in investor relations communications, Emperor W&J was granted with "Best IR Company" (Small Cap) and "Best Investor Presentation Material" (Small cap) in HKIRA Investor Relations Awards 2023 by the Hong Kong Investor Relations Association. For more information, please visit its website: www.EmperorWatchJewellery.com.
SINGAPORE, Aug 24, 2023 – (ACN Newswire) – Chiratae Ventures, a leading venture capital firm, announces the appointment of Mr. Puneet Pushkarna to its esteemed Regional Advisory Board, reinforcing its commitment to the Southeast Asia (SEA) market.
The announcement comes soon after Chiratae’s significant milestone -its active portfolio companies surpass $650 million in revenue. Companies focusing on SEA or headquartered now contribute about 45% of the total international revenue across the company’s diverse portfolio.Companies such as Active.ai, Kristala.ai, and Lenskart have driven growth in the SEA market, with Lenskart’s strategic acquisition of Japan’s Own Days last year as a recent highlight.
Given the growing significance of SEA as an investor base and a burgeoning market, Chiratae Ventures has been active in the region, particularly in Singapore and Japan. The appointment of Puneet Pushkarna to the Regional Advisory Board reinforces Chiratae’s dedication to its growth and success in SEA. Puneet will provide strategic guidance to Chiratae’s international operations in this role.
Mr Puneet Pushkarna (L) joins the Regional Advisory Board of Chiratae Ventures. In the picture with Mr Sudhir Sethi (R), Founder and Chairman of Chiratae Ventures.
Sudhir Sethi, Founder and Chairmanof Chiratae Ventures, shared, “With a strong foothold in the SEA market and our portfolio companies, either focusing on the region or being headquartered there, contributing over 45% of the total revenue, we are thrilled to welcome Puneet Pushkarna to our Regional Advisory Board. Puneet’s addition further bolsters our already formidable Advisory Board, whose collective efforts have significantly established Chiratae as one of India’s premier venture capital funds. His exceptional expertise and diverse background will undoubtedly guide our ventures to even greater heights within the Asian market while fostering stronger connections with our esteemed investors.”
Puneet Pushkarna brings a wealth of experience, currently serving as a General Partner at Solmark, a prominent private equity fund based in Singapore. Throughout his career, Puneet has excelled in nurturing and scaling companies in the competitive global landscape. He previously held the position of President at Headstrong, driving transformative initiatives in the Capital Markets domain through cutting-edge digital technology services. Additionally, Puneet co-founded TechSpan, backed by the prestigious institution Goldman Sachs, where he successfully led business solutions consulting and design thinking ventures, earning recognition as one of the fastest-growing companies in Silicon Valley.
Beyond his business acumen, Puneet is deeply involved in various Boards and Advisory Boards, including his role as Chairman of Core Committee, RIE2025, National Research Foundation, Singapore, Chairman Emeritus of TiE Singapore, and as a Board member of IIM Nagpur and Industry Advisory Board of SP Jain School of Management. Additionally, Puneet serves as a Catalyst at SMART (Singapore MIT Alliance for Research & Technology) and actively engages in philanthropic efforts, supporting initiatives such as the Indian Foundation for the Arts (IFA), the Singapore Indian Fine Arts Society (SIFAS), and the South Asian Heart Society.
Puneet Pushkarnashared his excitement for the new role, adding, “I am honoured to join Chiratae Ventures and contribute to the growth of the platform they have built over close to two decades and its dynamic portfolio in Asia region. There are strong benefits for the Asian block to partner, invest and grow exponentially by understanding each other’s strengths and hope to bridge the gap. The Indian model of solving for population-scale problems using technology-led business models has relevance for the larger region and hoping to help Chiratae and its portfolio expand its regional footprint”
Anoop Menon, Principal-Investments who also leads Investor Relations in the East Asian region, says, “With the changing geo-political environment and India’s blistering economic growth, India has become a strong contender for increased investments and business partnership within Asia. Along with this, there is a strong need to contextualise the India narrative by a leader who has seen both sides closely, and Puneet helps us do that. Having him on our Advisory Board provides a valuable sounding board for our team and founders as we navigate the markets in Singapore, Japan, and other regions of Asia Pacific.”
Chiratae Ventures, recently announced the final close of its first Growth fund at $122 M, oversubscribed by 34% and is in the market for its next flagship Venture capital fund. It will continue looking to cement its presence in SEA and the larger Asian region, and Puneet will help strengthen the firm’s position as a leader in the Venture capital landscape.
About Chiratae Ventures:
Chiratae Ventures is a 16-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across six funds) have $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to LPs in each of the last 12 years. The funds advised by Chiratae Ventures have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Bizongo, Fibe, FirstCry, Flipkart, Lenskart, Myntra, Pixis, PolicyBazaar and Uniphore, amongst many others.
SINGAPORE, Aug 23, 2023 – (ACN Newswire) – IEXS recently won the "Best Forex Broker 2023" award at the WikiEXPO Asia Finance Expo hosted by WIKIEXPO. This is just the latest accolade in a string of awards for the international broker, including "Best Forex FinTech Broker 2022" and "Fastest Growing Broker 2021".
IEXS values both global and regional recognition, with awards in the Middle East, Southeast Asia, and Asia providing valuable marketing opportunities to further the brand's presence.
IEXS is currently in a period of high growth and rapid development, providing customers with the highest quality of fintech-driven services. Over the years, the company has earned numerous awards and honors, demonstrating its commitment to customer satisfaction.
IEXS has been particularly recognized for its efforts to independently innovate its product offerings, including CFDs on its platform, as well as its continuous striving to improve transaction execution speeds and the user experience within its platforms. As a leader in the Forex brokerage and CFDs industry, IEXS is dedicated to staying ahead of the curve by utilizing innovative technology that meets the ever-changing needs of its clients.
IEXS
IEXS is an award-winning FX/CFD broker with a global presence, offering customer support in over seven languages. With over 300 tradable financial assets, including currency pairs, commodities, energy, indices, stocks CFDs, and ETF CFDs. IEXS is regulated by the UK's Financial Conduct Authority (FCA) and the Australian Securities & Investments Commission (ASIC). IEXS is also licensed by the Financial Transactions and Reports Analysis Centre of Canada (FinTrac) and registered by the Financial Services Authority (FSA) in Saint Vincent and the Grenadines. (IEXS Website: www.iexs.com)
Santiago, Chile, Aug 22, 2023 – (ACN Newswire) – InvestChile, the Foreign Investment Promotion Agency, inventoried its project portfolio as of the end of the first half of the year, reporting that it supports 493 initiatives at different stages of development, totaling US $27.9 billion, a 12.6% increase over the same period last year.
The number of projects in the agency's portfolio rose from 453 in the first half of 2022 to 493 initiatives in June of this year, representing annual growth of 8.8%. Similarly, the number of potential jobs associated with the projects reached 18,381, a 4.6% increase over the 17,578 jobs recorded as of June 2022.
InvestChile Director Karla Flores remarked that several factors explain the expansion of the investment project portfolio. However, the most important is that foreign companies see Chile as a safe destination to undertake new projects and expand their existing operations. "Today, our country is particularly well-positioned to offer investment opportunities critical to the global challenges of decarbonization and digital revolution," said Flores.
Ninety-seven portfolio projects are underway, injecting US $14.4 billion in investment and more than 6,100 new jobs into the economy. Relative to the first half of 2022, investment was up 36.5%, with 24.4% more initiatives underway and 60.3% more associated employment.
Energy Leads Projects
The energy sector once again led the portfolio, with 98 projects valued at US $12.35 billion, followed by the global services and technology sector, with US $5.6 billion; and mining and mining suppliers, with US $ 5.1 billion.
"It is no mystery that Chile leads the region and is an international benchmark in the clean energy sector. While it is true that the industry has been facing significant challenges recently, the interest shown by foreign companies has not diminished," remarked InvestChile's Director on the growth of energy-related projects. She added that foreign energy investors "received as very good news" the submission of the energy transition bill, which would modify the General Electric Services Law and position electricity transmission as an enabling sector for carbon neutrality.
Among the main countries in the project portfolio, the United States led the list, with 131 projects totaling US $6.6 billion. China ranked second with initiatives for US$4.6 billion; Canada comes third, with projects totaling US $2.8 billion.
"We are working with demanding targets to keep the portfolio growing, as reflected in the number of projects entered during the period. This figure represents efforts by our team and the result of 'smart' promotion strategies involving advanced digital marketing techniques and the fortification of our strategy and competitive intelligence units. We expect to close this year with good news for the country," concluded Flores.
JAKARTA, Aug 22, 2023 – (ACN Newswire) – Indonesia Commodity & Derivatives Exchange Group (ICDX Group), through its entity Indonesia Climate Exchange (ICX), officially facilitated the initial trading of Renewable Energy Certificates (REC). This first voluntary REC trade carried out by ICX was sourced from Geothermal Power Plants and also Micro Hydro Power Plants.
This initial trade includes a REC transaction of 1.050 MWh, with an opening price of IDR 35,000 and an auction closing price of IDR 38,000, an increase of 8.57%. This trade is proof that market participants can trade market-based climate instruments through an effective, efficient, open platform, as proven by higher auction closing prices, driven by increased demand.
Renewable Energy Certificate (REC) is a certificate that proves that electricity production per megawatt hour (MWh) comes from non-fossil power plants, such as hydropower, wind power, solar power, geothermal or bioenergy-based plants. REC trading that occurs on ICX can be a market-based solution to provide economic incentives to market players and renewable energy investors.
Nursalam, CEO of ICDX Group said, "By using the platform at ICX, industry players will be provided with convenience in terms of market access, as well as accountable and transparent trading. This certainly opens up space for corporations to be able to make the transition towards low-carbon operations. ICDX Group will continue to push for decarbonization efforts through the democratization of carbon trading. Our hope, of course, is that what we have implemented in the future can be replicated for other climate instruments such as carbon trading on a wider scale."
Nursalam added, "Of course we really appreciate those who have participated in the decarbonization program through the REC trade. This shows that the responsibility towards low carbon emissions is our shared responsibility. For now, several corporations that have participated are PT Agrodana Futures, PT Phillip Futures, PT Victory International Futures, PT Magnet Berjangka Indonesia, PT Rajawali Kapital Berjangka, PT Handal Semesta Berjangka, and several other entities. In the future, we will continue to invite various parties to participate in this program."
Megain Widjaja, CEO Indonesia Climate Exchange (ICX) said, "The REC transaction by the ICX has undergone a rigorous trial and alignment phase. This phase adhered to global standards in terms of technology and ecosystem. ICX is dedicated to expanding the range of climate instruments available on our platform. Our goal is to become the preferred choice for both government and industry players looking to transition towards low-carbon operations."
By engaging in this REC transaction, the Indonesia Climate Exchange has the potential to establish itself as a pioneering platform for climate instrument trading. This includes the widespread implementation of carbon trading and facilitating the adoption of various industries throughout Indonesia. The development of climate instrument trading necessitates collaboration between stakeholders and the government to effectively Development related to trade in climate instruments requires synergy between actors and the government in order to achieve the unconditional Nationally Determined Contribution (NDC) target of 31.89% and conditional target of 43.2% with the Business as Usual (BaU) mechanism in 2030 in efforts to reduce emissions carbon. "We invite all stakeholders to jointly make efforts to reduce carbon emissions," added Megain.
The trading of the Renewable Energy Certificate (REC) has been in existence since 2014. This was a result of the RE100 movement initiated by a consortium of major global corporations with the objective of achieving complete reliance on renewable electricity consumption. The set goals for renewable energy consumption include reaching a minimum of 30% by 2020, 60% by 2030, 90% by 2040, and ultimately achieving full utilization of renewable energy sources by attaining a target rate of 100% in 2050.
About the ICDX Group:
The Indonesia Commodity & Derivatives Exchange Group (ICDX Group) is a trading ecosystem consisting of the Commodity Exchange (ICDX), the Indonesian Clearing House (ICH), ICDX Bonded Logistics (ILB) and the Indonesia Climate Exchange (ICX). ICDX Group facilitates transactions of various types of commodities, finance and climate, which was established in 2009. ICDX Group has a vision to modernize trade and financial infrastructure through a commodity trading system ecosystem and market deepening through derivative contracts. Visit: https://www.icdx.co.id/
About Indonesia Climate Exchange (ICX):
Indonesia Climate Exchange (ICX), a part of the ICDX Group, was established to aid the government's mission of decreasing carbon emissions. It specializes in trading climate instruments and aims to make decarbonization accessible for all industry participants through convenient transactions, diverse product options, and transparent accountability. This enables businesses to seamlessly transition to low-carbon operations by utilizing Indonesia Climate Exchange services. Visit: https://www.climateexchange.id/
For further Information: P Giri Hatmoko Indonesia Commodity & Derivatives Exchange (ICDX) Group Tel: +62 21 30027788 www.icdx.co.id
BANGKOK, Aug 22, 2023 – (ACN Newswire) – Sri Trang Agro-Industry PCL (STA) has joined the Global Platform for Sustainable Natural Rubber (GPSNR) in the producers, processors and traders category.
STA, a prominent natural rubber company founded in 1987, is dedicated to promoting sustainable and fair production of natural rubber on a large scale. Operating extensive rubber plantations spanning nearly 7,000 hectares in 19 provinces of Thailand, STA holds a significant position in the global natural rubber market. By joining GPSNR, STA demonstrates its strong commitment to advancing a more sustainable and ethical natural rubber sector.
"We are thrilled to welcome Sri Trang Agro-Industry Public Company Limited to GPSNR," said Stefano Savi, Platform Director of GPSNR. "Given the company's scale and outreach, we look forward to their insights and contributions to important industry-wide processes on sustainable and equitable production currently underway at GPSNR, like our assurance model and shared investment mechanism."
Nattee Thiraputhbhokin, Chief Marketing Officer of STA, stated, "Joining GPSNR reflects our unwavering commitment to advancing sustainable practices in the natural rubber industry. In addition, in the ever-evolving world of rubber production, STA emerged as a trailblazer with its groundbreaking Sri Trang Ecosystem. This digitalized, transparent, and sustainable framework showcased STA's unwavering commitment to advancing sustainability in the natural rubber industry. With traceability ingrained in every step, from rubber tree cultivation to the delivery of traceable products, the ecosystem sets a new standard for better accountability. Joined by other industry leaders under the Global Platform for Sustainable Natural Rubber (GPSNR), STA aimed to forge a more sustainable and equitable future for all stakeholders, inspiring a transformation that resonated far beyond their business borders."
Released by Public Relations Dept., MT Multimedia Co., Ltd. for Sri Trang Agro-Industry PCL For additional information, please contact: Wasana "Jeab" Wongsiri Tel: +66 84 359 0659, +66 2 612 2081 ext.131; E: wasana.w@mtmultimedia.com
theacnnewswire.news.blog 