China Dynamics Vows to Actively Expand Promising Overseas Electric Vehicle Business

HONG KONG, Jun 30, 2021 – (ACN Newswire) – China Dynamics (Holdings) Limited (the "Company", to be renamed as "EV Dynamics (Holdings) Limited"; Stock Code: 476, together with its subsidiaries, collectively "China Dynamics" or the "Group"), which provides new energy vehicles and technology integrated solutions, is committed to expanding business, stabilising the mainland market while increasing its overseas business penetration, in order to seize market opportunities and bring synergies to the Group. Thanks to increased vehicle sales and better economies of scale, the Group recorded revenue of approximately HK$23.8 million for the year ended 31 March 2021, up by 367% year-on-year,.

Going forward, the Group will continue to capture opportunities in the rapidly growing new energy vehicle market, capitalising on its technological advantages in the field to actively explore overseas markets, thereby driving overall revenue growth and building a sustainable business.

Actively expands the Hong Kong market
During the year under review, the Group completed the sales orders for two smart electric buses from the Hong Kong Productivity Council for trial run by the Airport Authority Hong Kong and the Hong Kong Anti-Cancer Society. Talks on orders for two more new smart electric buses are underway. The Company will also start selling its fully electric 65-seat coaches in the Hong Kong market in the latter half of this year. Two of the coaches have already arrived in Hong Kong ready to sell. The Group is optimistic about the revival of tourism post pandemic, and the big demand for electric coaches that follows. Given that its electric coaches are currently the only approved model of their type in Hong Kong, the Group has an obvious edge in the market that needs the service of more than 7,000 coaches. In addition, the fully electric 19-seat low-floor minibus which the Company unveiled late last year will be ready for sale in the second half of this year. With its unique low-floor design and no match in the market for now, the electric minibus is expected to assume a sizeable share in the minibus market.

Outstanding achievements in overseas market expansion
The Group also completed the development of COMET, a customised city bus for emerging markets in Southeast Asia, with the first orders having been unveiled and delivered during the year under review. The Group expects many more orders in the near future. For the year under review, several sales orders from the Philippines were completed. Following the successful showcase in the Philippines, the Company has received sizable follow-up orders and expects to deliver around 100 units of COMET in the third and early fourth quarter of this year. The Group believes COMET is by far the most suitable and feasible model for replacing the Jeepney in the Philippines and is confident of penetrating and assuming dominance in the market.

For the South American market, on the B2B business front, the Group has developed a 12-metre "rolling platform" for bus manufacturers there who lack the technology to develop their own. The Group has already secured a sizable order for 12-metre e-platforms and another for 12-metre city bus from Latin America, which are set to contribute positive revenue to the Group when completed.

On 30 April 2021, the Company entered into an investment agreement to subscribe for 4.98% of Quantron AG. The Group believes the investment gives it a good opportunity to further expand its business in Europe. The Company has secured orders through Quantron AG in Europe for its 12-metre electric bus and 12-metre hydrogen bus, with delivery expected in the third and fourth quarter of this year respectively. The demand for electric buses and vehicles in Europe is strong and growing, thus the Company expects a steady stream of orders to come in after the said buses are delivered. The Group strongly believes it is looking at an imminent boom of overseas markets and very bright prospects for orders from Europe.

Seizes the huge opportunities in the Chinese mainland market
During the year, the Group's subsidiary Chongqing Suitong New Energy Automotive Manufacturing Co., Ltd. ("Suitong") completed the sales orders for its 8.5-metre buses from Wulong County, Chongqing. Although the massive electric vehicle market in the PRC remains highly competitive, the Group has confidence in its technical capabilities and advantages and in Suitong's commitment to seeking new sales orders and as such it will be able to tap the huge potential in the PRC market and reap rewarding returns from the market in the years to come.

Mr. Cheung Ngan, Chairman of China Dynamics, said, "The COVID-19 pandemic has complicated the business environment and posted challenges to the Group. However, we are confident of our business development strategy bearing fruit when different countries start to ease their lockdown measures and orders from overseas markets resume. The Group will closely monitor and prudently respond to market conditions, and continue to seize opportunities in the electric vehicle market, giving full play to our technological advantages in the new energy vehicle field. We will strive to expand our business overseas, plus enhance the Group's competitiveness so as to create long-term value for shareholders."

About China Dynamics (Holdings) Limited (Stock Code: 476)
China Dynamics (Holdings) Limited is a pioneer and a prominent player in China's new energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider with a solid technological foundation in diverse areas including new energy platform power systems and key components. The Group has a production base in Chongqing and it has developed its sales network in Mainland China, Hong Kong, Asia Pacific and South America. To better reflect the Group's business and its development direction to globalise its electric vehicles to world markets, the Company has proposed to change its name to "EV Dynamics (Holdings) Limited".

Media Enquiry
Strategic Financial Relations Limited
Vicky Lee +852 2864 4834 vicky.lee@sprg.com.hk
Phoebe Leung +852 2114 4172 phoebe.leung@sprg.com.hk
Eddie Li +852 2114 4170 eddie.li@sprg.com.hk
Website: www.sprg.com.hk

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

China Dynamics Vows to Actively Expand Promising Overseas Electric Vehicle Business

Jacobson Pharma Announces FY2021 Annual Results

HONG KONG, Jun 29, 2021 – (ACN Newswire) – Jacobson Pharma Corporation Limited ("Jacobson Pharma" or the "Company"; Stock Code: 2633), a leading company engaging in the research, development, production, marketing and sale of essential medicines, specialty drugs and branded healthcare products, today announced the annual results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 March 2021 (the "FY2021" or the "Reporting Period").

During the Reporting Period, the economy was hit hard by the pandemic with retail consumption stalled due to various social distancing measures and travel restrictions. At the continual impact of the pandemic on its businesses, the Group made total revenue of HK$1,445.9 million in the Reporting Period, dropped narrowly by 8.0% against the previous year. Mitigated by the impact relief and cost-saving measures, profit attributable to shareholders softened by 19.4% to HK$173.7 million.

The Board has recommended payment of a final dividend of HK1.5 cents per share (FY2020: HK2.5 cents per share). Including the interim dividend of HK0.8 cent per share already paid and a special interim dividend made by the Company on 5 February 2021 in the form of distribution in specie based on 1 share in JBM (Healthcare) Limited ("JBM Healthcare"; Stock Code: 2161) at HK$1.20 per share for every 8 shares held by the shareholders of the Company which represented a distribution of approximately HK15 cents per share, the total dividend for FY2021 would be HK17.3 cents per share (FY2020 total dividend: HK4.5 cents per share).

Steady Growth of Generic Drugs Business in Public Sector
The generic drugs business of the Group recorded revenue of HK$1,048.8 million in the Reporting Period, with the public sector business reporting steady growth but offset by a drop in sales momentum of the private sector business considerably dampened by infection control measures under the pandemic.

The Group's offerings in certain therapeutic classes saw solid growth, with oral anti-diabetics and gastrointestinal product classes registering a growth of 28.3% and 26.0% respectively in the public sector, mainly attributable to the realisation of tendering business plus increased usage of these essential medicines in respective disease management. In addition, the Group's angiotensin-converting enzyme inhibitor class and angiotensin II antagonist class of cardiovascular products achieved robust sales growth of 62.2% and 33.6% respectively, alongside an increase in the public sector consumption of antihypertensive drugs.

In the Reporting Period, the Group launched a number of new products including Arsenic Trioxide Oral Solution, Dihydrocodeine Tablet, Perindopril Tablet, Atomoxetine Capsule, Rosuvastatin Tablet, and Hydroxychloroquine Tablet. Among these, Arsenic Trioxide Oral Solution is the first ever Arsenic Trioxide approved in Hong Kong for the treatment of Acute Promyelocytic Leukaemia.

The Group also signed in-license regional agreements with reputable manufacturers in Europe and South Korea for a total of 15 specialised drugs covering the central nervous system, infectious diseases, gastrointestinal, and other therapeutic classes.

Resilient Performance of Branded Healthcare Business
The branded healthcare business of the Group recorded revenue of HK$397.1 million during the Reporting Period, up by 4.1% year-on-year. The growth was mainly attributable to the robust sales of Hoitin in concentrated Chinese medicine granules products of the Orizen Group, coupled with the resilient performance of AIM Atropine Eye Drops and Flying Eagle Woodlok Oil albeit market challenges.

Distribution of Fosun BioNTech Comirnaty Vaccine in Hong Kong and Macau
The Group is the distributor of Fosun Pharma/BioNTech Comirnaty COVID-19 mRNA Vaccine ("Fosun BioNTech Comirnaty Vaccine") in Hong Kong and Macau under an exclusive distribution agreement with Fosun Pharma Group. The Fosun BioNTech Comirnaty vaccination programme started in Hong Kong on 10 March 2021, and as at 31 May 2021, over 1.3 million doses of the vaccine have been administered.

Fosun BioNTech Comirnaty Vaccine is an mRNA based vaccine developed by German biotech company BioNTech SE with a clinically-tested efficacy rate of 95%. The Advisory Committee of the United States Centers for Disease Control and Prevention (CDC) has recently endorsed the safety and effectiveness of the vaccine and its use in 12-through 15-year-old adolescents, which represented important progress on COVID-19 infection control within the population.

Successful Spin-off of JBM Healthcare
The Group successfully spun off and separately listed its branded healthcare business, JBM Healthcare, on the Main Board of the Stock Exchange on 5 February 2021. After the spin-off and public listing, the Group holds 53.74% stake in JBM Healthcare in effect, which remains as a subsidiary of the Group.

JBM Healthcare is a Hong Kong-based branded healthcare company with a product footprint covering Greater China, Southeast Asia and other selected countries. It principally engages in the manufacturing and trading of branded healthcare products, comprising consumer healthcare products and proprietary Chinese medicines. The spin-off will create two distinct platforms for the Group and JBM Healthcare to enhance their strategic focuses and sharpen the execution of their growth strategies respectively.

Mr. Derek Sum, Chairman and Chief Executive Officer of Jacobson Pharma, concluded, "Although market situations have been challenging, the Group has remained steadfast in delivering its growth strategies and fortifying its leadership in the generic drugs market in Hong Kong. In our collaborative fight against the pandemic, Jacobson took pride in playing a part in introducing the Fosun BioNTech Comirnaty Vaccine into the markets of Hong Kong and Macau. I am particularly thankful for the dedicated efforts of our professional pharmacist teams who worked diligently with our business partners in setting up the systems on regulatory compliance, pharmacovigilance and medical information dissemination for seamless execution of the vaccination program."

"Looking ahead, with proven technological know-how, commercial strengths and priding operational excellence, the Group remains confident in delivering sustainable growth and creating values to our shareholders in the long term."

About Jacobson Pharma Corporation Limited (Stock Code: 2633)
Jacobson Pharma is a leading pharmaceutical company in Hong Kong vertically integrated with the research, development, production, sale and distribution of essential medicines and specialty drugs. As a major provider of generic drugs in Hong Kong, the Group has one of the most extensive sales and distribution coverage for both the private and public market sectors in Hong Kong, with an expanding reach into strategically selected Asian markets. Carrying a broad product portfolio and taking a pre-eminent market position in a number of therapeutic categories, the Group operates a host of 10 PIC/S GMP licensed production facilities for generic drugs in Hong Kong.

The Group aims at the continued strategic enrichment of its generic drug portfolios through the addition of high value-added products. With its corporate headquarters based in Hong Kong, the Group has also established its operating subsidiaries in China, Macau, Taiwan, Singapore and Cambodia forming a regional commercial platform to tap the market potential in the Asia Pacific and Greater China region. Jacobson Pharma has been a constituent stock of MSCI Hong Kong Micro Cap Index since 1 June 2017. For more details about Jacobson Pharma, please visit the Group's website: http://www.jacobsonpharma.com

For media enquiries, please contact:
Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk
Rachel Ko Tel: (852) 2114 2370 Email: rachel.ko@sprg.com.hk
Mandy Wong Tel: (852) 2114 4900 Email: mandy.wong@sprg.com.hk
Fax: (852) 2527 1196

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

KGISL Completes Acquisition of AETINS, Expands Expertise in the Insurance Space

Singapore / Malaysia, Jun 29, 2021 – (ACN Newswire) – KG Information Systems Private Limited (KGISL), a global IT services, consulting, and business solution provider, today announced the acquisition of AETINS Sdn. Bhd., (199801000924), through its wholly-owned subsidiary in Malaysia, KG Information Systems Sdn. Bhd. (201301013805). The acquisition is a part of KGISL's growth strategy in the InsurTech space.

Prassadh Shanmugam, Director and Chief Executive Officer, KGISL

AETINS brings aboard an exceptional range of insurance solutions for Life, General and Takaful bundled with an unmatched domain expertise. AETINS' Core Insurance Product and Solutions are well known in the market and are market leading. The company serves a vast clientele of insurance firms in the Asia Pacific, Middle East, and North Africa. The people, products, and solutions from AETINS would be leveraged in expanding KGISL's footprint in the InsurTech space.

KGISL has its market presence in the Malaysia InsurTech space since 2006 and has grown as a market leader with its Point of Sale (PoS) and Claims Management Solution for the Non-Life Insurance segment. The acquisition of AETINS will now bring in Core Insurance Product and Insurance Solution Framework (ISF) into KGISL's product offerings and opens doors to enter the wider Asia Pacific, Middle East, and Africa markets covering the Life, Non- Life and Takaful Insurance segments.

Mr. Prassadh Shanmugam, Director and Chief Executive Officer, KGISL commenting on the acquisition said, "I am super excited about this acquisition. AETINS' Core Insurance products, Takaful offerings and good presence in the Middle East market are the missing pieces in KGISL's Insurance offerings. It would have taken years for us to build this capability, so the acquisition is a perfect fit for KGISL. The employees of AETINS share the same integrity, culture and value systems of KGISL, so the integration will also be smooth and quick."

Commenting on the acquisition, Dr Ashok Bakthavathsalam, Managing Director, KGISL said, "The acquisition brings together two leading InsurTech players in pursuit of a common mission, centred on providing the best value for customers, organisation and employees. With able leadership and a go-getter team, KGISL has been on a fast growth trajectory, clocking a five-fold growth in the last four years. This acquisition adds momentum, and I am confident that our growth will be even faster in the next 3 years."

About KGISL: www.KGISL.com/gss

KG Information Systems Private Limited (KGISL) is a global IT Services, Consulting and Business Solutions provider in the BFSI space. KGISL offers Software Products, Solutions and Services in Intelligent Automation, ERP (SAP), CRM, Business Intelligence and Analytics, Quality Engineering, IT Infrastructure Management and Application Development. KGISL has offices in India, US, Malaysia, Singapore, Australia and Thailand.

KGISL is part of the $750 million business conglomerate KG Group with interest in Textiles, Engineering, Healthcare, Education, Real Estate, Entertainment, Software and Business Support Services. The Group employs over 25000 people and is known for its philanthropic services to the community for over 8 decades.

About AETINS: www.aetins.com/

AETINS, established in 1998, is a single end-to-end Insurance and Takaful Solution provider that covers all lines of business: Individual Life, Group Life, Investment Linked and General. It spans across functions like illustration, quotation, new business, policy servicing, claims, agency management, commission and benefits, accounting and services. Our business is to help Insurance and Takaful Companies to strategize and operate by leveraging on Information Technology, a key enabler to achieve transformational growth through Operational Excellence and Innovation.

For further information, please contact:

KGISL: Sampathkumar S | sampathkumar.s@KGISL.com | +91 9940069884

Adfactors PR (India):
Bhargav TS | bhargav.ts@adfactorspr.com | 9884883350
Shamitha Hegde | shamitha.hegde@adfactorspr.com | 9003107361

Adfactors PR (Singapore):
Namrata Sharma | namrata.sharma@adfactorspr.com | +65 8138 3034

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

KGISL Completes Acquisition of AETINS, Expands Expertise in the Insurance Space

Singapore / Malaysia, Jun 29, 2021 – (ACN Newswire) – KG Information Systems Private Limited (KGISL), a global IT services, consulting, and business solution provider, today announced the acquisition of AETINS Sdn. Bhd. through its wholly-owned subsidiary in Malaysia, KG Information Systems Sdn. Bhd. The acquisition is a part of KGISL's growth strategy in the InsurTech space.

Prassadh Shanmugam, Director and Chief Executive Officer, KGISL

AETINS brings aboard an exceptional range of insurance solutions for Life, General and Takaful bundled with an unmatched domain expertise. AETINS' Core Insurance Product and Solutions are well known in the market and are market-leading. The company serves a vast clientele of insurance firms in the Asia Pacific, Middle East, and North Africa. The people, products, and solutions from AETINS would be leveraged in expanding KGISL's footprint in the InsurTech space.

KGISL has market presence in the Malaysia InsurTech space since 2006 and has grown as a market leader with its Point of Sale (PoS) and Claims Management Solution for the Non-Life Insurance segment. The acquisition of AETINS will now bring in Core Insurance Product and Insurance Solution Framework (ISF) into KGISL's product offerings and opens doors to enter the wider Asia Pacific, Middle East, and Africa markets covering the Life, Non- Life and Takaful Insurance segments.

Mr. Prassadh Shanmugam, Director and Chief Executive Officer, KGISL commenting on the acquisition said, "I am super excited about this acquisition. AETINS' Core Insurance products, Takaful offerings and good presence in the Middle East market are the missing pieces in KGISL's Insurance offerings. It would have taken years for us to build this capability, so the acquisition is a perfect fit for KGISL. The employees of AETINS share the same integrity, culture and value systems of KGISL, so the integration will also be smooth and quick."

Commenting on the acquisition, Dr Ashok Bakthavathsalam, Managing Director, KGISL said, "The acquisition brings together two leading InsurTech players in pursuit of a common mission, centred on providing the best value for customers, organisation and employees. With able leadership and a go-getter team, KGISL has been on a fast growth trajectory, clocking a five-fold growth in the last four years. This acquisition adds momentum, and I am confident that our growth will be even faster in the next 3 years."

About KGISL – www.KGISL.com/gss

KG Information Systems Private Limited (KGISL) is a global IT Services, Consulting and Business Solutions provider in the BFSI space. KGISL offers Software Products, Solutions and Services in Intelligent Automation, ERP (SAP), CRM, Business Intelligence and Analytics, Quality Engineering, IT Infrastructure Management and Application Development. KGISL has offices in India, US, Malaysia (201301013805), Singapore, Australia and Thailand.

KGISL is part of the $750 million business conglomerate KG Group with interest in Textiles, Engineering, Healthcare, Education, Real Estate, Entertainment, Software and Business Support Services. The Group employs over 25000 people and is known for its philanthropic services to the community for over 8 decades.

About AETINS (199801000924) – www.aetins.com

AETINS, established in 1998, is a single end-to-end Insurance and Takaful Solution provider that covers all lines of business: Individual Life, Group Life, Investment Linked and General. It spans across functions like illustration, quotation, new business, policy servicing, claims, agency management, commission and benefits, accounting and services. Our business is to help Insurance and Takaful Companies to strategize and operate by leveraging on Information Technology, a key enabler to achieve transformational growth through Operational Excellence and Innovation. See www.aetins.com.

For further information, please contact:

KGISL: Sampathkumar S | sampathkumar.s@KGISL.com | +91 9940069884

Adfactors PR (India):
Bhargav TS | bhargav.ts@adfactorspr.com | 9884883350
Shamitha Hegde | shamitha.hegde@adfactorspr.com | 9003107361

Adfactors PR (Singapore):
Namrata Sharma | namrata.sharma@adfactorspr.com | +65 8138 3034

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

Online Brokerage Tiger Brokers strengthens Singapore operations with approvals-in-principle for SGX trading membership in securities and derivatives, and CDP clearing rights in Singapore

SINGAPORE, Jun 28, 2021 – (ACN Newswire) – Xiaomi-backed online brokerage Tiger Brokers (Singapore) Pte. Ltd. ("Tiger Brokers Singapore") today announced that it has received approval-in-principle to be admitted as a Clearing Member of The Central Depository (Pte) Limited ("CDP"). Tiger Brokers has also received approval-in-principle from Singapore Exchange Securities Trading Limited ("SGX-ST") as well as Singapore Exchange Derivatives Trading Limited (SGX-DT") for admission as a Trading Member.

Tiger Brokers expects to use these approvals-in-principle to improve the user experience and services it offers to clients. Tiger Brokers looks forward to developing its partnerships with CDP, SGX-ST and SGX-DT and strengthening its presence in the Singapore market.

Eng Thiam Choon, CEO of Tiger Brokers Singapore commented, "Tiger Brokers Singapore has always been focused on bringing a superior user experience to investors. These approvals-in-principle, together with our previous partnerships spanning financial data, cloud and financial technology, are part of our focus on providing a superior user experience to investors."

Officially launched in Singapore in February 2020, Tiger Trade offers retail investors trading opportunities such as Equities, Exchange-Traded Funds ("ETFs"), Futures, Stock Options, Warrants, Callable Bull/Bear Contracts ("CBBCs"), Daily Leveraged Certificates ("DLCs"), US-listed Over-the-Counter ("OTC") equities and Fund Mall. Investors are also able to trade on six different exchanges – New York Stock Exchange ("NYSE"), National Association of Securities Dealers Automated Quotations Exchange ("NASDAQ"), Shanghai/Shenzhen-Hong Kong Stock Connect, the Hong Kong Stock Exchange ("HKEX"), the Singapore Exchange ("SGX") and the Australian Securities Exchange ("ASX").

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

About Tiger Brokers (Singapore) Pte Ltd.

Tiger Brokers Singapore Pte Ltd ("Tiger Brokers Singapore") is a brokerage firm operating with a Capital Markets Services ("CMS") Licence from the Monetary Authority of Singapore ("MAS"). Its trading platform, Tiger Trade, offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates. The company launched the mobile version of Tiger Trade in February 2020 – accessible on Google Play Store and the Apple App Store – offering mobile-savvy generation of retail investors similar trading opportunities as their online users, such as Equities, ETFs, Futures, Stock Options, Warrants, CBBCs, DLCs, US-listed OTC equities and Fund Mall on their mobile phones. Both online and mobile app allow users to invest across multiple asset classes traded on the US, China, Hong Kong, Singapore and Australian stock markets such as the NYSE, NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, the HKEX, the SGX and the ASX.

Tiger Brokers Singapore is the Singapore entity of UP Fintech Holding Limited, known as "Tiger Brokers" in Asia, a leading online brokerage firm focusing on global investors. Founded in 2014, Tiger Brokers became #1 in the U.S. equity trading by volume among trading platforms catered to Global Chinese investors in less than two years. Tiger Brokers was awarded "2017 Fintech 250" by CB Insights and shortlisted for "China Leading Fintech 50" for two years in a row by KPMG China. The company was listed on NASDAQ under "TIGR" in 2019 and has offices in China, United States, Australia, New Zealand and Singapore. Tiger Brokers has over 1.4 million users worldwide currently, with a total trading volume exceeding USD123.8 billion in Q1 2021. The company is backed by well-known investors such as Xiaomi, as well as investment guru Jim Rogers. For more information, please visit https://www.tigerbrokers.com.sg

About UP Fintech Holding Limited

UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company's proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its "mobile first" strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company's proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearing houses. For more information on the Company, please visit: https://ir.itiger.com.

For media enquiries, please contact:
PRecious Communications for Tiger Brokers (Singapore)
Email: Tiger@preciouscomms.com

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Any views shared with Prospective Clients ("Prospects") are suggestive in nature and on a sample basis only. This may also be predicated on assumptions that are made by Tiger Brokers (Singapore) Pte Ltd about the Prospects' investment objectives and risk profile. Our suggestive and sample views extended to Prospects are not to be considered as recommendations made by the Company. Suggestions provided are also based on information that may be shared by the Prospects, the accuracy and comprehensiveness of which Tiger Brokers in not in a position to verify.

Tiger Brokers (Singapore) Pte Ltd (herein "Tiger Brokers") may, to the extent permitted by law, participate or invest in other transactions with the issuer of the products referred to herein, perform services or solicit business from such issuers, and/or have a position or effect transactions in the securities or options thereof. The information herein is for recipient's information only and not an offer to sell or a solicitation to buy. Any date or price information is indicative only and may be changed without prior notice. All opinions expressed and facts referred to herein are subject to change without notice. The information herein was obtained and derived from sources that we believe are reliable, but while reasonable care has been taken to ensure that stated facts are accurate and opinions are fair and reasonable, Tiger Brokers does not represent that it is accurate or complete and it should not be relied upon as such. The information expressed herein is current and does not constitute an offer, recommendation or solicitation, nor does it constitute any prediction of likely future stock performance. Investment involves risk. The price of investment instruments can and do fluctuate, and any individual instrument may experience upward or downward movements, and under certain circumstances may even become valueless. Past performance is not a guarantee of future results. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any person or affiliated companies. Before making an investment decision, you should speak to a financial adviser to consider whether this information is appropriate to your needs, objectives and circumstances. Tiger Brokers assumes no fiduciary responsibility or liability for any consequences financial or otherwise arising from trading in securities if opinions and information in this document may be relied upon.

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

Tat Hong Equipment Service Co., Ltd. Announces First Annual Results after Listing

HONG KONG, Jun 28, 2021 – (ACN Newswire) – Tat Hong Equipment Service Co., Ltd. ("Tat Hong" or the "Company", together with its subsidiaries, the "Group") (Stock Code: 2153), the first foreign-owned tower crane service provider established in the PRC, has announced its annual results for the year ended 31 March 2021 ("FY2021" or the "Year").

Results Highlights:
— Total revenue increased by 6.4% to RMB793.0 million
— Gross profit margin improved to 34.5%
— Net profit rose by 32% to RMB101.2 million with net profit margin increased to 12.8%
— EBITDA increased 4.6% to RMB394.7 million attaining EBITDA margin of 49.8%
— Recommended a final dividend of HK3 cents per share
— High earnings visibility: outstanding contracts value amounted to RMB751.5 million
– Work in progress: 258 projects with contract value of RMB587.2 million;
– On hand but not yet commenced: 60 projects with expected contract value of RMB164.3 million

In FY2021, the Group recorded revenue amounting to RMB793.0 million, representing a 6.4% increase from that for the year ended 31 March 2020, mainly attributable to the increase in the number of both self-owned and rented tower cranes, the majority of which had been working on-site and generating revenue. The Group's average annual total Tonne Metres in use increased from approximately 2,284,596 in FY2020 to 2,491,629 in FY2021.

Gross profit increased by approximately 7.9% to approximately RMB273.3 million, with improved gross profit margin of 34.5%. Profit for the year increased from approximately RMB76.5 million for the year ended 31 March 2020 to approximately RMB101.2 million for the year ended 31 March 2021, representing an increase of approximately 32.4%. To share the positive results of the Group with shareholders after listing, the Board of Directors recommended the payment of a final dividend of HK3 cents per share.

As at 31 March 2021, the Group had 258 projects in progress with a total outstanding contract value of approximately RMB587.2 million and 60 projects on hand with a total expected contract value of approximately RMB164.3 million. Of these projects, the Group expects to complete contract work of approximately RMB578.9 million by the year ending 31 March 2022, demonstrating high and solid earnings visibility in the forthcoming year.

Mr. Sean Yau, CEO of Tat Hong Equipment Service Co., Ltd. said, "FY2021 marks a fruitful year for Tat Hong as we have reached a major milestone with a successful listing on the Stock Exchange of Hong Kong and delivered promising results. Despite the outbreak of COVID-19 becoming pandemic in March 2020, inevitably affecting some business operations during the year, we are delighted to have delivered satisfactory results attributable to our leading position and track record in tower crane service industry in the PRC as well as our strong relationship with Chinese Special-tier and Tier-1 EPC contractors. We stay committed to providing one-stop tower crane solution services from consultation, technical design, commissioning, construction to after-sales services primarily to our customers and seize numerous business opportunities arising from strong asset investment and urbanisation in the country."

Business Review

As at 31 March 2021, the Group managed 1090 tower cranes, which are all equipped to flexibly engage in our customers' specialised range of EPC projects throughout the PRC.

As a well-recognised foreign-owned tower crane service provider in the PRC, the Group has also built a strong reputation in our awareness to workers' safety, service quality and technical strength. The Group possesses Class A Certificate for Erection, Modification and Maintenance of Special Type Equipment granted by the Jiangsu Quality and Technology Supervisory Bureau and Construction Enterprise Qualification Certificate and grade of Class One Lifting Equipment Erection and Project Outsourcing issued by the Jiangsu Housing and Urban Rural Construction Department for conducting tower crane service business in the PRC. In FY2021, the Group has been granted 10 additional registered patents, bringing total registered patents to 44 for utility models and inventions and designs relating to tower cranes, with 23 patent filings in progress.

During the Year, revenue from Commercial Projects, primarily referring to the EPC projects for commercial buildings, industrial parks and shopping malls, grew 22.3% to RMB403.4 million, accounted for 50.9% of the Group's total revenue. On the other hand, Infrastructure Projects, mainly referring to the EPC projects for airports, railway stations and bridges and Residential Projects, referring to the EPC projects for residential properties and affordable housing, contributed revenue of RMB130.5 million and RMB200.9 million respectively, accounting for 16.5% and 25.3% of the Group's total revenue. Energy Projects, referring to the EPC projects for hydropower stations, nuclear power plants and LNG terminals, are seen to be one of the growth drivers of the Group's business. Revenue from this segment increased by 50.5% to RMB58.1million, accounted for 7.3% of the Group's total revenue.

Outlook

Along with the foreseeable stable growth of the construction industry, continuous urbanisation process and massive government promotion of prefabricated buildings, the tower crane service market in the PRC is anticipated to grow further in the following years.

In order to capture future growth opportunities, the Group plans to continue to focus on fleet expansion on medium-to-large sized tower cranes and maintain a mix fleet of self-owned and rented tower cranes to enhance the utilisation of its tower cranes. The Group is also expanding its Yangzhou Refurbishment Centre with an aim to extend the scope of services to its customers as well as industrial peers, so as to maintain and strengthen the strong-ties with its long-term and reputable customers. Looking ahead, the Group also targets to gradually expand its market presence in Indonesia under China's Belt and Road Initiative and expand its business operations through investment.

Mr. Roland Ng, Chairman of Tat Hong Equipment Service Co., Ltd. concluded, "With the successful listing of Tat Hong in January this year, followed by many accomplishments thereafter, we are set to seize numerous business opportunities in the PRC as well as in the region with our enhanced capital foundation. Leveraging our leading market position, nationwide business coverage, stable and solid customer base and large-scale tower crane fleet, we are confident to deliver satisfactory performance in the forthcoming year. We are optimistic on the long-term development prospects of the Group particularly in infrastructure and energy sectors, and we look forward to continuing to deliver sustainable growth and results for our shareholders, investors and business partners".

About Tat Hong Equipment Service Co., Ltd. (Stock Code: 2153)
Tat Hong Equipment Service Co., Ltd. is the first foreign-owned tower crane service provider established in the PRC. Since 2007, the Group has established as a tower crane service provider for one-stop tower crane solution services from consultation, technical design, commissioning, construction to after-sales services primarily to Chinese Special-tier and Tier-1 EPC contractors. Guided by its core values, "Virtue, Safety and Excellence", the Group has successfully established its market position and maintained stable, reputable and loyal customer base in the construction industry in the PRC.

Media Enquiries
Strategic Financial Relations Limited
Maggie Au Tel: (852) 2864 4815 email: maggie.au@sprg.com.hk
Mel Lai Tel: (852) 2864 4855 email: mel.lai@sprg.com.hk

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Bay to Bay: Synergies between San Francisco Bay Area and China’s Greater Bay Area

HONG KONG, Jun 25, 2021 – (ACN Newswire) – A research report identifying synergies and collaboration opportunities between the San Francisco Bay Area and China's Guangdong-Hong Kong-Macao Greater Bay Area (GBA) was published and presented at a webinar today by the Bay Area Council Economic Institute, based in San Francisco, and the Hong Kong Trade Development Council (HKTDC). Entitled "Bay to Bay: China's Greater Bay Area Plan and Its Synergies for US and San Francisco Bay Area Business," the report analyses the trade, investment and policy landscape of the two bay areas, and identifies sectors with potential including climate change, clean energy, healthcare, electric and autonomous vehicles, biomedicine, and fintech.

In addition to assessing the trade and investment landscape and detailing areas for potential collaboration, the report also looks at the GBA in detail and how US businesses can leverage Hong Kong as an international platform to link up with the GBA to capture business opportunities.

Sean Randolph, the report's principal author and Senior Director at the Bay Area Council Economic Institute, notes that "The GBA and the San Francisco Bay Area are both complex regions and global economic hubs. Hong Kong in particular, as an international crossroads with a dynamic services sector and innovative research, has similarities to San Francisco. With its relative openness and established legal system for business transactions it's also well-positioned as a bridge to the GBA. In the last few years doing business between the US and China has become more complicated but there are still many opportunities to explore, in fields from clean energy and climate change to health, biomedicine and fintech."

Nicholas Kwan, Director of Research at HKTDC, which supported the study, comments that "As a global city Hong Kong plays a unique role in the Greater Bay Area plan based on its rule of law, respect for intellectual property, the scale and depth of its financial system, and its capacity for innovation. That opens the door for Bay Area and California companies to take advantage of opportunities in the GBA through partnerships in Hong Kong."

References:
– Download the report here: https://portal.hktdc.com/resources/RMIP/20210624/z090eps2-QmF5VG9CYXktVW5kZXJzdGFuZGluZ0NoaW5hc0dCQVBsYW4oMSk=.pdf
– HKTDC Research: https://research.hktdc.com/en/featured/greater-bay-area
– Bay Area Council Economic Institute: http://www.bayareaeconomy.org/

About HKTDC

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

Media enquiries:
HKTDC Communication and Public Affairs Department
Rudie Lynes, Tel: +852 2584 4517, Email: rudie.lynes@hktdc.com

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

Pertama Digital makes leap forward with two new investors for its digital bank

PENANG, Malaysia, Jun 24, 2021 – (ACN Newswire) – Pertama Digital Berhad announced today that it has signed Memoranda of Understanding (MoUs) with Perfect Hexagon Commodity and Investment Bank Limited ("PHCIB") and Alsirat Sdn Bhd ("ASB") to secure investment for its proposed digital bank.

Licensed as a Labuan investment bank under the Labuan Financial Services Authority, PHCIB is wholly owned under Perfect Hexagon Limited ("PHL"), a Hong Kong based entity. PHL is a global commodity and trade finance leader. PHL is also an Associate Participant of Bursa Malaysia Derivatives Berhad and a Liquidity Provider for the Hong Kong Exchanges and Clearing Limited.

Meanwhile, ASB is a wholly owned Bumiputera company that has more than 30 years' experience in delivering mission-critical projects for customers since its inception. It provides digital evidence management solutions, big data analytics, machine learning, artificial intelligence and Internet of Things services.

According to the two MoUs, PHCIB and ASB both wish to support financial inclusion initiatives by investing in the digital bank proposed by Pertama Digital. Both investors will participate by contributing to the digital bank's initial capital funds alongside Pertama Digital.

Pertama Digital's Director of Strategy, Saify Akhtar, who also leads the company's digital bank initiative, said: "We are pleased to welcome PHCIB and ASB as investors who bring additional long-term financial strength to our digital banking consortium, further enhancing our ability to deliver the financial inclusion objectives set out in Bank Negara Malaysia's licensing framework for digital banks."

PHL's Group Director, Yap Sheng Feng, said: "PHCIB's participation in this will be a synergistic collaboration with the consortium members, by leveraging on our experience in investment banking, treasury and asset management. With PHCIB's global presence, Pertama Digital's consortium can have a wider reach not just domestically but internationally as well."

ASB director Tan Sri Abdul Rashid bin Abdul Manaf added: "ASB has seen first-hand the need to accelerate digital inclusivity due to the nature of our business, and we have decided that Pertama Digital's unique focus on helping financially underserved Malaysians gain access to financial services is one that we would like to align ourselves with. The potential for horizontal synergies between ourselves, Pertama Digital and the digital bank is something that we look forward to as well."

Pertama Digital is building a bank with both ethical and digital cores, offering responsible financing for productive purposes, in the best interests of its customers. The consortium intends to handhold customers to boost financial literacy and improve the relationship between Malaysia's financially underserved and their money.

Pertama Digital, listed on the Main Market of Bursa Malaysia, received overwhelming shareholder approval on 21 August 2020 for its pivot from the textile business to the technology sector. Through an investment into homegrown govtech company, DAPAT Vista (M) Sdn Bhd, Pertama Digital is capitalising on global digital acceleration trends and has recently seen increased uptake in the group's innovative digital solutions such as MyPay and eJamin, the world's first smartphone court bail payment solution, now live in courts all over Malaysia.

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

Central Global Berhad Makes Two Board Appointments

KUALA LUMPUR, Jun 24, 2021 – (ACN Newswire) – Main Market-listed Central Global Berhad ("Central Global") is pleased to announce the appointments of Yang Hormat Mulia ("YHM") Tengku Dato' Indera Abu Bakar Ahmad ("Tengku Abu Bakar") and Encik Shaharuddin bin Abdullah ("Encik Shaharuddin") as non-executive directors of the Group.

YHM Tengku Abu Bakar, 36, has a background in strategic planning, specialising in health-related, e-commerce and information technology businesses. He is currently chairman of Fomema Sdn Bhd, which operates a foreign workers' medical examination screening system in Peninsular Malaysia, as well as chairman of several other related companies. He is also a director of Bookdoc Holdings Sdn Bhd, which operates a mobile application connecting patients with medical professionals.

Tengku Abu Bakar holds a Bachelor of Business in Accounting from Swinburne University of Technology, Hawthorne, Australia. He has also throughout his career accumulated experience in dealing with multinational companies while providing guidance and support in the companies where he is a member of the board of directors.

Encik Shaharuddin, 60, spent his entire career in the Royal Malaysian Police and retired as an Assistant Commissioner of Police where his last posting was as Head of Administration for the Human Resources Department (Policy). He holds a Master in Social Science from University Kebangsaan Malaysia and a Diploma in Forensic Investigation from University Malaya.

Please contact the below for more information:
Muhammad Hakim
h.juraimi@swanconsultancy.biz

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