HONG KONG, Jul 16, 2021 – (ACN Newswire) – Black Spade Acquisition Co (the "Company") today announced the pricing of its initial public offering of 15,000,000 units at a price of $10.00 per unit. The units are expected to be listed for trading on the New York Stock Exchange (the "NYSE") under the ticker symbol "BSAQU" beginning July 16, 2021. Each unit consists of one of the Company's Class A ordinary shares and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A ordinary shares and warrants will be listed on the NYSE under the symbols "BSAQ" and "BSAQWS," respectively.

The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or assets. Although the Company may pursue an initial business combination opportunity in any industry or any region, it is focused on identifying a business combination target that can benefit from the extensive collective network, knowledge and experience of the Company's founder and management team that is related to or in the entertainment industry, with a focus on enabling technology, lifestyle brands, products, or services and entertainment media. While the Company intends to pursue opportunities globally, it will focus on opportunities with existing or future growth potential underpinned by the transformative consumption forces in Asia, an area in which its founder and management team can contribute significantly with their extensive network, knowledge and experience.

Citigroup Global Markets Inc. is acting as the sole bookrunner for this offering. JonesTrading Institutional Services LLC and Loop Capital Markets LLC are acting as co-managers for this offering. The Company has granted the underwriters a 45-day option to purchase up to 2,250,000 additional units at the initial public offering price to cover over-allotments, if any.

The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at 1-800-831-9146 or via email prospectus@citi.com.

A registration statement relating to the securities became effective on July 15, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is expected to close on July 20, 2021, subject to customary closing conditions.

Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the Company's plans with respect to the target industry for a potential business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the Company will ultimately complete a business combination transaction. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the U.S. Securities and Exchange Commission (the "SEC"). Copies of these documents are available on the SEC's website, at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:
Black Spade Acquisition Co
Lea Sze Tel: +852 3955 1316 Email: lea.sze@blackspadeacquisition.com
Suite 2902, 29/F, The Centrium, 60 Wyndham Street, Central, Hong Kong

Media Enquiries:
Strategic Financial Relations Limited
Vicky Lee Tel: +852 2864 4834 Email: vicky.lee@sprg.com.hk
Angela Wong Tel: +852 2114 4953 Email: angela.wong@sprg.com.hk
Christina Cheuk Tel: +852 2114 4979 Email: christina.cheuk@sprg.com.hk
Website: http://www.sprg.com.hk/


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HONG KONG, Jul 15, 2021 – (ACN Newswire) – Global New Material, a leading company in the global new consumable materials market, gave a 'big gift' to its investors before officially listing. On July 9, Global New Material (stock code: 6616) announced an IPO price of HKD3.25, 7.67% lower than the previous IPO floor price. From the investors' perspective, Global New Material lowering its IPO price from that of the IPO period, in fact, has left more room for market share price appreciation in the future.

High-quality companies prefer low-price offerings in mature capital markets

In mature capital markets, the lower-price offering is an effective strategy for information transmission. Those high-quality companies that are confident in their future business operations prefer the low-price offering strategy with higher market awareness, instead of advertising, extended lock-up period, underwriting by high-reputation investment banks or other approaches to deliver their intrinsic value to the markets.

The low-price offering is not harmful to high-quality companies as the low-price offering will attract more investors and will further lay a solid foundation for their post-listing stock price growth. Continuous growth in stock price and market value is extremely conducive to post-listing financing and therefore, will make up the value that companies give to their investors in IPO.

Besides, the low-price offering strategy is unlikely to be copied by poorer-quality companies. Since poorer-quality companies probably "usher in the peak when they go public" and then experience stock price decline, they will not and dare not purposefully lower their offering price. In fact, Global New Material lowering its IPO price is probably not only for this purpose.

Global New Material is preparing for access to Southbound Trading Link

Low-price offering activates stock trading, which probably demonstrates Global New Material's preparation for access to Southbound Trading Link. Access to Southbound Trading Link is a very essential step to enhance market attention and activate stock trading of stocks listed in Hong Kong. It is learned from the management that Global New Material, which has just completed its IPO, is currently preparing for access to Southbound Trading Link.

The inclusion of Hang Seng Indexes will affect the inclusion of the Southbound Trading Link. According to the inclusion criteria of Hang Seng Indexes, the turnover rate is also considered in addition to the examination of the companies with the top 95% of the market capitalization in the option pool. Global New Material's low-price offering strategy can facilitate faster meeting the requirements at the market dealing level.

Global New Material, which is preparing for access to Southbound Trading Link, is expected to experience stock price growth. Aftermarket close on August 20, 2021, the results of the latest mid-term review of Hang Seng Index constituent stocks will be released. As calculated by brokerage firms, the average market value threshold for entry into Hang Seng Composite Index this time is approximately HKD8.77 billion.

Global New Material currently applies an offering price of HKD3.25 with a stock market value of HKD3.779 billion, which is lower than that required for access to Southbound Trading Link. However, the company still strongly desires to make access to Southbound Trading Link, indicating that its management is confident in its future business operations and post-listing stock price performance.

Two new materials are of great potential in huge consumer markets

Both pearlescent pigments and synthetic mica, Global New Material's two main types of new material products, are of great potential in huge markets in the fields of basic necessities of life and other consumer fields.

Pearlescent pigments are penetrating high-end fields at an expedited pace while replacing traditional pigments. As shown in the prospectus, Global New Material's pearlescent pigments have two major significant advantages over traditional pigments in terms of being colour-lasting, toxic-free, harmless and environmentally friendly. In addition to traditional application fields, there is a fast-growing demand for pearlescent pigments in recent years in various high-end fields such as automobiles and cosmetics.

From 2021 to 2025, the compound annual growth rate of the global pearlescent pigment market will further climb to 23.9%, and the compound annual growth rate of pearlescent pigments in the global automotive and cosmetics sectors will surprisingly reach 47.1% and 32.8% respectively. Therefore, Global New Material's pearlescent pigment products are expected to be applied in a wider range of application fields and occupy a huge market share with tremendous potential for future growth.

Synthetic mica is also penetrating mid-to-high-end consumer markets, such as the fairly popular field of fuel cells. In view of the exhaustion of natural mica resources in China and synthetic mica products' advantages in terms of insulation, high-temperature resistance and corrosion resistance, there is an extremely strong demand for synthetic mica products and synthetic mica-based pearlescent pigments which are priced at a medium-to-high level and are mainly applied in mid-to-high-end industrial fields and other fields such as automobiles and cosmetics.

Moreover, according to scientific research findings, synthetic mica materials are being used to improve the existing fuel cell technology by virtue of their high proton conductivity and excellent heat resistance. The existing product prototype, i.e. mica membrane, is recognized as a new proton-conducting membrane with high proton conductivity.

To sum up, pearlescent pigments and synthetic mica, as two new material products, are of tremendous market potential, and Global New Material, as the leader in the fields of such two new materials, has gained dominant competitive advantages.

Comprehensive advantages cement the dominant position in the fields of the scarcest resources

In both pearlescent pigments and synthetic mica, Global New Material has built significant advantages in technology and business scale. In 2020, in terms of corporate revenue, Global New Material was the largest pearlescent pigment manufacturer in China with a market share of 11% and ranked fourth in the global market with a market share of 3%. Global New Material has sold its products to more than 30 countries and regions worldwide, and its technical team is headed by Professor Jiansheng Fu – known as the leading authority on pearlescent materials in China and father of chameleon pearlescent materials.

According to the prospectus, Global New Material is currently the only company in the field of synthetic mica that possesses all the core technologies of synthetic mica. Backed by strong R&D, Global New Material can launch over 100 new products each year, leading the global industry.

Contact:
Haolu Wang, Peanutmedia
E: wanghaolu@czgmcn.com
URL: www.Peanutmedia.com

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SHANGHAI, CHINA, Jul 14, 2021 – (ACN Newswire) – Huatai Securities Co., Ltd. (601688.CH; 6886.HK; HTSC.LI) today announced that its wholly-owned subsidiary, Huatai Securities (Shanghai) Asset Management Co., Ltd. ('HTSCAM' or 'the Company') has become a signatory of the United Nations-supported Principles for Responsible Investment (UNPRI).

As a signatory, HTSCAM is committed to integrating the UNPRI's investment principles – which incorporate environmental, social and governance (ESG) factors – into investment decision making and ownership practices to provide better services for investors.

UNPRI's six principles for responsible investment:
— We will incorporate ESG issues into investment analysis and decision-making processes
— We will be active owners and incorporate ESG issues into our ownership policies and practices
— We will seek appropriate disclosure on ESG issues by the entities in which we invest
— We will promote acceptance and implementation of the Principles within the investment industry
— We will work together to enhance our effectiveness in implementing the principles
— We will each report on our activities and progress towards implementing the principles

Under the UNPRI's six responsible investment principles, HTSCAM will develop and build an ESG investment research framework, to better integrate ESG into the investment process. This framework will further empower responsible investment and financing, and bolster ESG product innovation and comprehensively improve risk management, allowing HTSCAM to seize long-term environmental and sustainable investment opportunities and achieve enhanced investment returns while fostering the sustainable development of capital markets in China and the world.

HTSCAM's commitment to ESG principles at an operational and business level are hallmarks of the Company and evidenced by numerous industry-first green ABS projects which include financing for solid waste treatment, alternative energy, carbon neutrality, and other industries. The ABS products also adhere to the concept of socially responsible investment and provide efficient, long-term, and sustainable financial support to enterprises. In addition, some ABS projects have also addressed the need for pandemic prevention equipment (PPE), offering efficient and low-cost financial support for PPE leasing in different regions across China in the fight against the pandemic.

In tandem with its commitment to ESG, HTSCAM has actively practiced a "dual-pronged" development strategy of wealth management and institutional services in recent years, and leads the industry in investment management capability and investment performance, reaching nearly RMB600 billion AUM by the end of 2020.

Launched in 2006, the UNPRI is the world's leading proponent of responsible investment. Supported by the United Nations, it works to understand the investment implications of ESG factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions.

For enquiries, please contact:
Citigate Dewe Rogerson
Benny Liu Tel: +86 10 6567 5056
Linda Pui Tel: +852 3103 0118
Email: HTSC@citigatedewerogerson.com

About Huatai Securities
Founded in 1991, Huatai Securities is a leading integrated securities group in China with an extensive and engaging customer base, cutting-edge digital platforms and highly synergetic business model, headquartered in Nanjing, China. The Company's principal businesses comprise of wealth management, institutional services, investment management and international business. We provide comprehensive, fully integrated, professional and diversified securities services for individuals and institutional clients and aim to become a leading integrated financial group with strong domestic advantages and global influence. For more information, please visit www.htsc.com.





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