HONG KONG, Apr 19, 2021 – (ACN Newswire) – Recently, China Brilliant Global Limited (8026.HK) (CBG) voluntarily announced that its subsidiary Brillink Bank Corporation Limited ("Brillink") was granted by Astana Financial Services Authority (AFSA) in Kazakhstan Astana International Financial Centre (AIFC) for an official full banking licence. According to announcement made earlier, Brillink was granted an In-Principle Approval Letter (the "AIP Letter") on 4 December 2020 to be formed for a licence to carry on banking services. The issuance of official licence to Brillink has demonstrated regulator's confidence in Brillink's development of banking business.
Since last year, the "black swan" COVID-19 has swept the world and has made a huge impact on various countries. Hence, new trends have emerged. The penetration of digitization and intelligence has accelerated. As for financial sector, the development of digital banking is booming, which brings incredible business opportunities and becomes a new battlefield in the financial industry.
CBG combines the existing real economy business with the new digital bank to build a new scenario for the digital bank focus on supply chain. According to the company's previous announcement, the bank is expected to start trial operation in the second half of 2021, and may own the world's first digital bank focusing on supply chain finance.
In addition, the latest review result of Morgan Stanley Capital International (MSCI) shows that CBG has been included in the MSCI Hong Kong Micro Index in November 2020. Such relevant adjustment was made and be effective on 30 November 2020, after the market closed.
Statistics show that the MSCI Hong Kong Micro Index is constructed in a comprehensive and consistent manner and is one of the most widely used stock benchmarks used by institutional investors to measure the performance of investment portfolios. The index is currently covering thousands of stocks with good operating performance and potential from different regions and different market capitalizations. In other words, being included in the market benchmark index reflects the capital market's full confidence in CBG's development and prospects.
You can never imagine CBG's business development strategy before reading the news mentioned above. Now, how should we view the real investment value hidden behind it?
Obtained A Full Banking License to Create A New Imagination
First, let's sort out the basic situation of the proposed digital bank so that you can clarify its business positioning and audience.
According to an announcement made by CBG, it acquired the issued share capital of CBG Fintech Holdings Limited twice in 2020 through its wholly-owned subsidiary CFSG, and finally obtained 80% of the issued share capital of CBG Fintech Holdings Limited in order to expand its banking business.
According to public information, Kazakhstan is striving to build AIFC into a leading financial centre in Asia, and through China's "One Belt, One Road" initiative to develop AIFC into an important offshore RMB centre. As a result, the digital bank for supply chain financing will have significant location investment advantages and market competitive advantages after its landing.
From the perspective of market competition, leading financial institutions such as China Development Bank, China Construction Bank, Industrial and Commercial Bank of China, Bank of China, and China International Capital Corporation have all settled in AIFC. Shanghai Stock Exchange and Silk Road Fund have also jointly invested in AIFC stock exchange (AIX), and owns 25% and 5% of AIX respectively. Possessing a full bank license issued by AIFC enables Brillink to become one of the formal, and global-oriented international financial institutions, and enables it to provide customers with one-stop supply chain financial services.
Besides, according to related research reports, the average online channel usage of global digital bank users has increased by more than 35% in the past three years, especially in Asia, where online transactions are well developed with digital bank customers reaching 1.7 billion in 2020. Moreover, after the outbreak of the epidemic, powerful companies continued to promote digital transformation and upgrading. In addition, with the booming of "New Infrastructure" led by national policies, the novel form of digital banking has been accelerated in the B-end and C-end at the same time.
However, the current market situation is that most of the leading companies have concentrated on the C-end market, while few companies will really focus on the B-end market and have the ability to take the lead in the B-end market.
We believe that digital banks with the abilities to develop B-end business are more likely to stand out in the market. Undoubtedly, it is a good timing for Brillink to intervene at this moment.
Specifically, Brillink's B-end business covers the entire supply chain, mainly for high-quality customers in the IC and 5G industries, and has certain differences between the inclusive financial model that combines with the more common individuals and SME audiences in the market. Digital banks with such a background are even rarer. Under the wave of empowering the real economy, they are more likely to seize market opportunities.
As mentioned before, Brillink is the one of the few fintech company that will start digital banking at AIFC and obtains full license for deposits and loans. In view of this, the company's digital banking business is likely to give priority to seizing the market, rapidly expanding the company's sources of income, and opening up a new imagination for CBG to the market.
Strategic Planning and Resources Create High Synergies, Resulting in Strong and Promising Future
As we all know, to provide financial digital banking services for related companies by focusing on the supply chain can better serve the real economy and promote more efficient trade operation and circulation. The development path of focusing on advanced and technology-led high-end manufacturing or smart manufacturing industry chains such as 5G communications and electronic consumer product manufacturing, will conforms to the general trend of national development and the huge market of independent and self-controlled semiconductors. With its technical and capital barriers, and the threshold of high efficiency, the financial supply chain digital banking business have important characteristics, including irreplaceable and large-scale output.
Other than the competitive environment of the industry, investors also need to focus on the synergies brought by the supply chain resources of CBG.
Mr. Zhang Chunhua, the actual controller of CBG, is also the actual controller of China Brilliant Supply Chain Services Co. Limited("CB"). CB, founded in 2006, is one of the first supply chain companies in the country to position on industrial supply chains. CB is the first batch of advanced technology service enterprises in Shenzhen. In recent years, it has won the honour of the best innovative enterprise in China's supply chain management. It has won the China IC market supply chain service award for four consecutive years. It has also been recognized as a national service-oriented manufacturing demonstration platform, which has fully affirmed CB's value and outstanding performance in serving the industry, and demonstrated CB's position as a leader in the supply chain field.
In the past 15 years since CB's establishment, its cumulative revenue has exceeded 113 billion dollars, cumulative tax payment has exceeded 40.5 billion dollars (including tariffs), and the total import and export of general trade has exceeded 55.6 billion US dollars. Its business covers more than 200 large and medium-sized cities in China, and reaching North America, South America, South Asia, Africa and other countries and regions. It has served over 10,000 high-quality customers in the upstream and downstream of the 5G, IC manufacturing, mobile phone manufacturing and other multi-industry chains, by providing one-stop supply chain services including cross-border comprehensive management services, global logistics solutions, meticulous industrial storage and financial supply chain.
It is worth noting that with such a large business scale and an operation mode of high proportion of supply chain financing, CB has an extremely low rate of bad debts since its opening, and its risk management and control capabilities are evident. These excellent customers and valuable business experience will be passed on to Brillink and its digital banking business with great probability. These above key points can be reasonably deduced, and the more important ones can be reflected in the following aspects.
On the one hand, the digital banking business can give full play to CB's ability of transforming high-end B-end customers, including Xiaomi, Samsung, Siemens, Panasonic, ASM, Transsion, Huaqin, CVTE, Changhong, Cambrian and other top customer resources.
On the other hand, the bad debt rate of import and export loans has always been low, which is 65 times lower than the bad debt rate of general corporate loans. The cloud computing technology and the analysis ability of corporate credit rating big data that CB has accumulated for 15 years can provide the basic support for its digital banking business. From the top to the bottom of the capital supply end, to the capital demand end, it has formed a closed loop of the supply chain financial industry, and thus the risks of engaging in this type of loan business are relatively more controllable.
From the above points of view, CB's strategic planning of digital bank business can create a high synergy development effect with the Group's existing supply chain business. It is not just a simple coincidence of customer groups. The Group's past import and export supply chain business also involved a large amount of supply chain financing. CB has mature experience in trade settlement, risk control, and specific operations. These are all available for reference for Brillink, and attain its business transformation smoothly.
In addition, there are bound to be a large number of potential customers in the customer resource network that the company has built, such as the many upstream and downstream suppliers of high-end industrial giants. Under such "direct and indirect" conversion model, the company's future customer volume and market space will be immeasurable.
With the support of a good front-end business platform like CB, the digital banking business of CBG will never lack the stamina for development.
Core Assets Support High Valuations and Reveal Market Investment Value
With reference to the previous performance of financial platforms driven by technology, there have always been giants and unicorns, and no "dwarfs".
We have sorted out the valuations of a number of digital banks with financing records, where we can see that many companies have the characteristics of good profitability and super high valuations, especially Chinese companies that operate online business like WeBank.
Looking back at the fundamentals of Brillink.
In terms of business logic, its parent group's supply chain business gathers high-quality customers in fast-growing and highly professional industries such as 5G, IC manufacturing, and mobile phone manufacturing, with huge conversion opportunities. These can allow Brillink lower customer cost, sufficient customer stickiness and considerable room for growth. Furthermore, the purely online business model can effectively reduce service costs, eliminate high investment on offline branches and fixed asset, and reduce cost-to-income ratios. With the company's low bad debt rate under effective risk control, and high gross profit margins, the return on business investment (or return on net assets) is expected to be quite impressive.
Looking ahead, Brillink has a clear development path and high visibility. It will benefit from tides of the times and national policies, such as the increasingly active investment in the "Belt and Road" initiative, New Infrastructure, the trend of autonomous control of 5G and semiconductors, as well as its parent company's improving supply chain business services, with the increasing types and numbers of vertical industries and the re-expansion of service boundaries.
Therefore, we believe that CBG, to a certain extent, has the possibility of transferring to the Main Board and owns basic strength, due to its high-value core assets. As the first global/ Hong Kong stock with the concept of financial supply chain digital bank, it has a certain degree of scarcity, together with the imagination brought by its long-term development potential, there are many good reasons to judge that CBG's digital bank assets will eventually enjoy a valuation premium. Compared with its current valuation level, the premium space appears to be quite sufficient. Investors can follow up to the timing and announcement of continuing to attract strategic investors and the trend of smart money.
Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Tag: Daily Finance
Commodities Intelligence Centre (CIC) Sees 26% Jump in Registered Customers in 2020

SINGAPORE, Apr 16, 2021 – (ACN Newswire) – Singapore-based Commodities Intelligence Centre (CIC) – a Joint Venture between the ZALL Smart Commerce Group (ZALL), Singapore Exchange (SGX) and Global eTrade Services (GeTS) – has announced strong growth in FY2020, driven by the urgency for supply chains to digitalise during the pandemic. In 2020, the number of customers on the platform grew by 26 per cent as compared to 2019 to reach 5800 registered users. Among the commodities traded on the platform include ferrous and non-ferrous metals, agricultural products, plastics and chemicals, and oil products. The total cumulative gross merchandise volume (GMV) on the CIC platform grew by over US$3.1 billion (S$4.1 billion) to reach US$13.4 billion (S$17.6 billion), an increase of more than 30 per cent from 2019.
Peter Yu, Chief Executive Officer of CIC shared, "By making our platform and technologies affordable and easy to use, SMEs are able to easily onboard the platform and make use of these digital tools to grow their businesses. With global disruptions such as COVID-19 and the recent Suez Canal incident, we want to help SMEs build more sustainable and resilient businesses that can endure these challenging times as they grow and expand in Asia and to achieve greater trading synergies globally."
According to the UOB SME Outlook Survey 2021, 34 percent of SMEs find digital adoption costly to implement, and yet companies who have digitally transformed one or more departments, or their entire business, have seen a significantly higher revenue growth. One of the Singapore SMEs who have benefited from CIC's platform is Go Holdings, a cullet supplier in Southeast Asia. Tapping on CIC's business intelligence service DataPro, it has been able to access a wide database of over 2 billion records of customs and trade data from more than 110 countries across Asia, Europe and the Americas. This has allowed them to uncover new markets and diversify their trading operations, and connect with reliable partners and suppliers that align with their business goals. Alongside this, CIC also recently introduced a convenient Know-Your-Customer (KYC) service that helps SMEs with their due diligence to better manage their business risks.
Huang Zhi Rong, Business Development Executive of Go Holdings, shared, "As a general trading company from a traditionally offline industry, the thought of digitalization can be daunting and challenging as this is often costly and resource intensive, and it takes up time and effort. However, digital platforms such as CIC, has allowed us to gain a competitive edge in the market, especially during the Covid-19 pandemic, by providing us with valuable market insights to guide our decision making and has enabled us to tap on the right information sources to strategize our business plans that has brought about profound changes to our import and export trade businesses." Go Holdings is currently a subscriber of CIC's DataPro services.
Over the past year, CIC has embarked on numerous initiatives to support SMEs in their digital transformation journey. In May 2020, CIC worked with Singapore Business Federation (SBF) to support SMEs under the "Rising in Support of Enterprises (RISE)" programme during the height of the pandemic. In December 2020, it has also jointly launched a "Digital Silk Road" initiative led by ZALL, and joined Singapore's Blockchain for Trade & Connectivity (BTC) Network, which aims to help SMEs embrace the power of digitalisation to uncover new trading opportunities and to promote greater efficiency and transparency across global supply chains.
With sustainability becoming increasingly important for companies, CIC is also focusing more efforts to support commodity trading that contributes towards climate change and environmental sustainability, such as clean and renewable energy, as it aims to groom more than ten Global Commodity Champions over the next three to five years on the back of the world's largest trade pact, the Regional Comprehensive Economic Partnership (RCEP) and China's dual circulation strategy.
"At Go Holdings, we have also focused on environmental sustainability. Although it has not been an easy journey for us, we have taken steps to become a sustainable company, from our selection of partners and vendors that share our common values, to our internal processes that promotes the use of sustainable materials and a culture of Reuse, Reduce and Recycle among our employees", added Huang Zhirong of Go Holdings.
About Commodities Intelligence Centre (CIC)
The Commodities Intelligence Centre (CIC) is a global trading platform for physical commodities including Ferrous & Non-Ferrous Metals, Chemicals & Plastics, Oil & Petroleum, and Agri Commodities. Officially launched in Singapore on 12 Oct 2018, CIC is a Joint Venture between China-based ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX) to build trade connectivity through digital marketplaces and to grow a vibrant trading ecosystem in Singapore.
CIC aims to revolutionize commodity trading and facilitate cross-border trade through deal matching, trade finance, supply chain logistics, track and trace and global trade compliance. Since its establishment in October 2018, CIC has achieved a GMV (Gross Merchandise Volume) of more than US$13.4 billion (S$17.6 billion), with over 5,800 registered users covering markets including Singapore, Malaysia, Indonesia, India, China, among other countries in Asia. For more information, please visit www.cic-tp.com.
For media queries
Email: CIC@preciouscomms.com
Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Live Online Masterclass on Project Finance & Project Financial Modelling

Singapore, Apr 14, 2021 – (ACN Newswire) – Infocus International Group has launched the Project Finance & Project Financial Modelling online course and it will be commencing live on 10th June 2021. Throughout the eight sessions of the course, you will learn the latest PF strategies, risk mitigation instruments, as well as financial modelling best practices with practical case studies.
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Today's project finance (PF) transactions require a higher level of expertise not only in programming more sophisticated and flexible financial models, but also in incorporating the latest risk mitigation and credit enhancement instruments. While higher standards of Environmental, Social, and Governance (ESG) impact management are being demanded of all major capital projects worldwide, more options and models for ESG mitigation, insurance, guarantee products, and financing instruments are now available.
The objective of this course is to provide participants with an enhanced understanding of the practical & documentation requirements of all interested parties to today's PF transaction. This programme provides you with proven PF analytical strategies and transaction structuring techniques which will enable you to quantitatively assess risks, resolve constraints, and reach project financial closure. This programme is also designed to enhance the check lists and benchmark metrics by which you can reduce losses and which will be viewed favourably by both management and the regulatory community.
Course Sessions:
– Limited-recourse Project Finance models & key requirements
– Managing Project Finance transactions & stages of the deal
– Project Finance documentation management, risk analysis models & Environmental, Social & Governance (ESG) mitigation options
– Sources of PF funding, financing instruments & guarantee products; credit enhancements & bankability techniques
– PF financial model design requirements, presentation & formatting standards
– Programming financial statements, cash flows, profit & loss statements and managing international accounting standards
– Projecting PF balance sheets, SPV reserve accounts, PF refinancing, and conducting sensitivity analyses
– PF model stress-testing, overseeing Monte Carlo simulation analyses, and modelling for credit enhancements
As a result of actively engaging in this program, you will be able to make practical decisions on PF strategies, projects, and transactions for your organizations following the workshop?s completion.
Want to learn more?
Simply email to weslyn@infocusint.com or call +65 6325 0351 to obtain your FREE COPY of event brochure. For more information, please visit www.infocusinternational.com/projectfinance-online .
About Infocus International Group
Infocus International is a global business intelligence provider of strategic information and professional services for diverse business communities.
Infocus International recognises clients' needs and responds with innovative and result oriented programmes. All products are founded on high value content in diverse subject areas, and the highest level of quality is ensured through intensive and in-depth market research from local and international insights.
Weslyn Lee
Tel: +65 6325 0351 | Email:
weslyn@infocusinternational.com
Web: www.infocusinternational.com
Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Infocus International to Finalise the Registration for Public-Private Partnerships (P3) Live Online Masterclass

Singapore, Apr 14, 2021 – (ACN Newswire) – Infocus International Group has launched the Public-Private Partnerships online course and it will be commencing live on 5th May 2021. Throughout the eight sessions, you will be mastering PPP project analysis, financing, contracts & transaction management techniques.
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We need new infrastructure. Roads, airports, schools, hospitals and housing: the list is enormous and growing. Yet severely limited budgets, economic uncertainty caused by volatile commodity prices, and deficits continue to prevent government at all levels from delivering the kinds of structural change that has always been needed. In response, some countries have developed successful PPP programmes. Merely grasping the concepts of PPP does not do justice to our great responsibility of having an ownership in the country's future. We already know what we need to do, now is the time to really discover HOW.
Course Highlights
– PPP policies, strategies, laws & units for implementing successful PPP transactions
– Identifying & selecting appropriate projects for PPPs
– Models for analyzing PPP projects
– Managing & completing PPP feasibility studies
– Financing techniques for PPP to ensure long-term PPP bankability and affordability
– Managing and overseeing PPP procurements & achieving transaction closure
– PPP stakeholder management & sustainability techniques
– Managing long-term PPP contracts for ensuring service delivery, price regulation, and dispute resolution
This online workshop features rigorous new interactive methodology that require attendees to demonstrate their understanding with each module's practical techniques and learning outcomes. Every 10-15 minutes throughout each session, you will be required to complete either focused review questions for selecting among a range of PPP decisions, or brief group exercise assignments. You should be prepared to actively participate, and not merely to "watch & listen" video presentations.
As a result of actively engaging in this program's methodology, you will be able to make practical decisions on PPP strategies, projects, and transactions for your organizations following the workshop's completion.
Want to learn more?
Simply email to weslyn@infocusint.com or call +65 6325 0351 to obtain your FREE COPY of event brochure. For more information, please visit www.infocusinternational.com/ppp-online .
About Infocus International Group
Infocus International is a global business intelligence provider of strategic information and professional services for diverse business communities.
Infocus International recognises clients' needs and responds with innovative and result oriented programmes. All products are founded on high value content in diverse subject areas, and the highest level of quality is ensured through intensive and in-depth market research from local and international insights.
Weslyn Lee
Tel: +65 6325 0351
Email: weslyn@infocusinternational.com
Web: www.infocusinternational.com
Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com
China Dynamics Enters into MOU to Create Exclusive Distribution Network in the Americas

HONG KONG, Apr 13, 2021 – (ACN Newswire) – China Dynamics (Holdings) Limited (the "Company"; Stock Code: 476, together with its subsidiaries, collectively "China Dynamics" or the "Group"), a provider of new energy vehicles and technology integrated solutions, and Citizens Resources LLC ("Citizens") have signed a Memorandum of Understanding ("MOU") for strategic business cooperation in Canada, the USA, Brazil, the Caribbean and Latin America (hereinafter the "Exclusive Territory") to set the basis for an exclusive master distributorship and licensing agreement.
Under the MOU, both parties will enter into a series of agreements allowing China Dynamics to create a sales pipeline and a distribution network for electromobility products in the Exclusive Territory on an exclusive basis and to support the distribution network with training, marketing, after sales and charging infrastructure.
Meanwhile, Citizens is set to use China Dynamics' technology, intellectual property, know-how, technical support and supply chain to assemble or manufacture electric vehicles in Mexico for further export, distribution, sale and marketing in the Exclusive Territory under a licensing agreement. Citizens will enter into a purchase and sale agreement to buy vehicles or components from China Dynamics on a cost-plus basis, so that China Dynamics will become the provider of powertrains, battery packs, e-kits, and complete rolling platforms.
Mr. Miguel Valldecabres Polop, CEO of China Dynamics, said, "We are pleased to announce the signing of the MOU with Citizens, an energy investment and smart electromobility company in the US. Citizens has nearly 40 years of experience in developing businesses and partnerships internationally, with a particular focus on North America and the Caribbean. This MOU will help expand the Group's markets into the Americas and will add to the Group's growing number of partners working on electromobility products with the ultimate goal of a greener environment through zero-transmission transport."
Mr. Sergio de La Vega, Principal at Citizens, commented, "We have been working on energy transition and efficiency for a few years now. Electromobility represents everything we believe in: smart cities, big data, energy efficiency, lifestyle, respect for our planet and technological evolution. The vehicles of the future will trend towards autonomy, charging and storing energy in better ways to better serve society. We have no doubt this partnership will bring growth and value for China Dynamics and for Citizens."
About China Dynamics (Holdings) Limited (Stock Code: 476)
China Dynamics (Holdings) Limited is a pioneer and a prominent player in 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 system and its key components. The Group has two production bases in Chongqing and it has developed its sales network in Mainland China, Hong Kong, Asia Pacific and South America.
About Citizens Resources LLC
Citizens' predecessor started as a Boston-based non-profit in 1979, importing and providing heating oil for low-income families in Massachusetts. Over the next 40 years, Citizens evolved into an international player in the energy sector. In 2017 Citizens began a transition towards launching a platform for renewable, stranded, and smart energy investments, as well as non-emission mobility projects. Citizens' distribution subsidiaries provide additional expertise and knowledge to develop transportation businesses in LATAM. This network in the energy, automotive, and industrial sectors in the US and Mexico enables Citizens to act as innovators in smart urban mobility solutions, automotive innovation and vehicle distribution.
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
Carrie Leung +852 2114 4912 carrie.leung@sprg.com.hk
Website: www.sprg.com.hk
Citizens Resources LLC
160 Federal St 18th Floor
Boston, MA 02110
USA
Enrico Della Casa (617) 912-1444 enricodc@citizenscompanies.com
Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Hong Kong Digital Asset Exchange Launches the First NFT Trading Platform in Hong Kong

HONG KONG, Apr 8, 2021 – (ACN Newswire) – Hong Kong Digital Asset Exchange ("HKD.com"), the first digital asset exchange to combine both an online platform and a sizable physical store in Hong Kong, plans to launch a one-stop NFT (Non-Fungible Token) trading platform in the third quarter of this year. It will be the first digital asset exchange in Hong Kong to introduce the blockchain technology and provide the NFT trading platform.
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As the wave of globalization of digital crypto asset activities is sweeping through the entire world, NFT becomes the hot topic. As a head start, HKD.com plans to launch the NFT trading platform in Hong Kong, name as HKD.com NFT Trading Platform (tentatively), provides artists with an online platform for the artworks publishing, promotion, trading and payment, with diversified product categories, including digital art, encrypted collections of animation, music and movies etc. On the trading platform, users can trade through public offer or bidding, and carry out token trading and exchange; while artists can also publish their own digital artworks through the trading platform. HKD.com supports multi-national legal tender, major cryptocurrencies, and over-the-counter legal tender trading services. In addition, serving as a one-stop service platform, HKD.com also provides physical store exhibition services for artists.
Mr. Kelvin Yeung, founder and CEO of HKD.com, said, considering the lack of a credible trading platform for digital creation in Hong Kong's current market, HKD.com is determined to introduce the business of NFT and launch the trading platform. This not only can help the local artists to add value to their talents, but also can drive the development of the art market.
NFT is a new form of digital assets, issued digital creations content of digital design digital music, digital video etc. on the blockchain. NFT is unique and can own the specific token authenticating ownership of the content. NFT can be widely used, and currently, is applied and growing fast in the art market.
About Hong Kong Digital Asset Exchange
Established in Hong Kong, Hong Kong Digital Asset Exchange (HKD.com) is a world-class platform for global digital asset trading. HKD.com is committed to the physicalization and popularization of digital currencies. In addition to a highly secured online digital currency trading platform, HKD.com has also set up a 10,000 sq. ft. store for digital currency trading in Hong Kong's core commercial district, making it one of the biggest digital asset exchanges in Hong Kong. HKD.com also installs numerous cryptocurrency ATMs in Hong Kong and launches a POS system to promote cryptocurrency payment, enabling investors a convenient and reliable digital finance experience.
Website: https://www.hkd.com/
Media enquiries:
Hong Kong Asia Culture Dissemination
Tel: (852) 5578 2791
Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com
AEON Credit Proposes Final Dividend of 18 HK Cents for FY2020 amid Solid Fundamentals

HONG KONG, Apr 8, 2021 – (ACN Newswire) – AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) has announced today its annual results for the year ended 28 February 2021 ("FY2020"). During FY2020, the change of consumer behavior to online shopping and indoor activities has prompted the Group to accelerate its digital transformation through the continued upgrade of mobile applications and dedicating more resources to online merchant marketing promotions. The Group has also continued with the development of the new card and loan system to prepare for further technological upgrades in the payment industry. Sales in the fourth quarter started to pick up due to the launch of personalized marketing promotions.
Facing an exceptionally uncertain market environment during FY2020, the Group's revenue was HK$1,089.9 million, with profit after tax amounting to HK$301.6 million. Earnings per share were 72.02 HK cents. The Group's capital base remained strong with total equity up 3.3% to HK$3,422.0 million as at 28 February 2021.
In view of the sound fundamentals of the Group, the Board has recommended a final dividend of 18.0 HK cents per share, bringing the total dividend for the year to 40.0 HK cents per share, representing a dividend payout ratio of 55.5%, up from 49.8% last year despite adversity.
Go Digital and Seize New Demand during Post-pandemic Recovery
Looking ahead, changing consumer spending behaviors under the new normal as a result of the Pandemic are expected to remain. The Group will adjust its business model to adapt to this changing consumer behavior and ensure it is prepared to meet new customer needs.
If the Pandemic can be brought under control soon, economic activities in Hong Kong are expected to rebound in the second half of FY2021. To ensure the effectiveness of marketing channels and to stay competitive in the market, the Group will put more emphasis on using social media and mobile applications to promote its products and marketing programs. Moreover, with the development of acquiring business merchant network, more promotions will be lined up with online merchants to stimulate customer spending.
In addition, the Group will work closely with AEON Stores (Hong Kong) Co., Limited ("AEON Stores"; Stock Code: 00984) to maximize the card payments of customers inside AEON Stores. To cater for any possible adverse changes in the credit environment, the Group will enhance its credit policy for a better balance of customers' financial needs and profitability.
In order to strengthen operational efficiency, the Group will continue to commit significant resources to complete the digital transformation and upgrade its ability to respond to changes in the market. The Group will introduce new product benefits and provide premium user experiences to its customers. Furthermore, the Group will enhance its data analysis methodologies to raise its marketing, credit assessment and credit management effectiveness.
A key element of the technology upgrade is the new card and loan system project. With the completion of the acquiring phase and the card authorization front-end replacement, the Group will start the issuing phase in the first quarter of FY2021, with the estimated project completion date to be in early 2023.
During the year under review, the Group has also completed several major projects, including enabling Faster Payment System (FPS) service for personal loan fund transfer, enhancing personal loan application through mobile application to support new version of Hong Kong identity cards, improving mobile application to support loan account overview, the implementation of additional network security enhancement, and work-from-home system functions.
Exploring Greater Bay Area's Consumer Finance Market
Following the voluntary liquidation of two microfinance subsidiaries in the northern part of Mainland China, the Group will concentrate on consolidating its operations in the Guangdong-Hong Kong-Macau Greater Bay Area and strengthening the local management team. The microfinance subsidiary in Shenzhen achieved monthly break-even status in the year. The Group will put efforts to improve its operating performance and to seek new business opportunities.
Mr. Tomoharu Fukayama, Managing Director of AEON Credit said, "With the precautionary measures being taken and our strong business partner relationships, as well as our strong liquidity position and balance sheet, we are well prepared to face the challenges ahead and to move forward to capture new business opportunities that may arise as and when the market conditions return."
About AEON Credit Service (Asia) Company Limited (Stock Code: 00900)
AEON Credit Service (Asia) Company Limited, a subsidiary of AEON Financial Service Co., Ltd. (TSE: 8570) and a member of the AEON Group, was set up in 1987 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in 1995. The Group is principally engaged in the consumer finance business, which includes the issuance of credit cards and the provision of personal loan financing, card payment processing services, insurance agency and brokerage business in Hong Kong and microfinance business in Mainland China.
For more information, please visit the company's website at www.aeon.com.hk.
Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com
HKIoD Releases Revised Guide for INEDs

HONG KONG, Apr 7, 2021 – (ACN Newswire) – Amidst the economic decline for many sectors under the Covid-19 impact, the financial sector is faring with vibrancy. Witness the IPO line-up on HKEX and the financial trading activities. The investing public continues to place stake on listed issuers' performance, which comes with the expectation on corporate governance led by boards of directors. An important board role under public scrutiny is that of the independent non-executive director ("INED"). To provide up-to-date practice guidance, The Hong Kong Institute of Directors ("HKIoD") releases a complete revision of one of its flagship publications, Guide for Independent Non-Executive Directors ("the Guide").
Drawing increasing attention from the public and in particular from regulators and stakeholders, the role of INED when performed well adds value to the board. Author of the Guide, Dr Carlye Tsui Wai-ling, CEO of HKIoD, highlights the implication, "Taking up an appointment as an INED carries with it an honour in trust bestowed, a commitment to service and acceptance of expectation in professionalism."
The Guide aims to provide practice notes and advisory tips in concise and user-friendly reading, with highlights on principles for INEDs at work as well as practical aspects of work scope, issues, skills and working relationship with other board members and management. "The INED role calls for serious and diligent service," said Dr Christopher To Wing, Chairman of HKIoD. "While offering practice guidance to INEDs, we encourage the board and management as a team to work together. Hence, the Guide also facilitates teamwork on the board." The Guide is sponsored by the Corporate Governance Development Foundation Fund and the Office of the Privacy Commissioner for Personal Data, Hong Kong.
"INEDs may add value, not only to listed and regulated companies but also to all other types of companies," remarked Mr Henry Lai Hin-wing, Immediate Past Chairman of HKIoD and current Chairman of the institute's Corporate Governance Policies Committee. "While listed companies are mandated by Listing Rules to appoint INEDs to the board, non-listed companies may introduce diversity in perspectives on the board by appointing INEDs."
One important emphasis of the Guide is on corporate sustainability through ESG adoption and reporting led by the board, with INEDs serving as catalyst. Dr Moses Cheng Mo-chi, Founding Chairman of HKIoD and a renowned INED, advocates ESG implementation and opined, "INEDs should be knowledgeable and proactive in driving ESG adoption and should ensure that ESG goals and achievements are communicated well by the company."
Echoing on the teamwork of the board, Dr Kelvin Wong Tin-yau, Past Chairman of HKIoD and a recognised practitioner as both executive director and INED, said, "We will see a paradigm shift in INED focus, to both financial and ESG performance, and extension from independence to interdependence and interplay among all board members."
On the significance of the INED role, Dr David Wong Yau-kar, Past Deputy Chairman of HKIoD and a well-respected business leader, highlighted, "INEDs must be seasoned in assessing business landscape and risks, particularly when the company engages in a major transaction or explores a new business line."
Given the enormous obligations and responsibilities, it may not be easy to have suitable candidates coming forward to accept INED appointment. Dr Tsui concluded, "Usually INEDs are mission-minded persons who are appropriately trained and who advocate good corporate governance. It is significant to develop a partnership of mutual respect and trust between the INEDs and other board members as well as management. It takes the whole board and management, working together, to realise the maximum value from INEDs."
HKIoD promotes excellence in director practices through its annual major project of Directors Of The Year Awards, honouring role models among individual director and the collective board. INEDs have been recognised at the Awards for their exemplary performance. Continuing in its 21st anniversary, the awards project this year takes on the theme "Leading in New Normal". Nominations for the awards are open to the public.
The HKIoD Guide for Independent Non-Executive Directors can be downloaded for free and nominations of candidates for Directors Of The Year Awards 2021 are welcomed.
1. Guide for Independent Non-Executive Directors : https://www.hkiod.com/INEDguide.html
2. Directors Of The Year Awards 2021: https://www.hkiod.com/dya-current.html
The Hong Kong Institute of Directors ("HKIoD") is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. HKIoD is a member institute of the Global Network of Director Institutes, a worldwide alliance of leading director institutes.
Media Enquiries:
The Hong Kong Institute of Directors
Joanne Yam +852 2889 1414 / joanne.yam@hkiod.com
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Brenda Chan +852 2114 4396 / brenda.chan@sprg.com.hk
Chak Yau +852 2114 4395 / chak.yau@sprg.com.hk
Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com
HKIoD Recommends a Director Identification Number System

HONG KONG, Apr 7, 2021 – (ACN Newswire) – The Government has plans to introduce subsidiary legislation to implement provisions under the Companies Ordinance relating to legitimate and necessary access to personal information contained in the Companies Register. The Hong Kong Institute of Directors supports the new arrangement.
Under the new arrangement, public inspection of the Companies Register will not be precluded. The Companies Ordinance does enable public inspection of data in the Companies Register, but the inspection must comport with the law. The Companies Ordinance as passed into law contains provisions specifying that public inspection of the Companies Register should only be for the purposes set out in section 45(1).
A main purpose of public inspection of the Companies Register is to ascertain the identity of a director of a certain company.
Under the new arrangement, a director may provide a correspondence address to be displayed in the Companies Register, and only a part of the identification numbers will be on display. The data so displayed should in most ordinary circumstances enable the person seeking information to ascertain the identity of a director. For service of documents and legal proceedings, the company's registered address or another service address that the director provides is sufficient.
Under the new arrangement, there will also be a mechanism to enable Specified Persons (e.g., minority shareholders, financial institutions, certain professional bodies, employees who are owed back wages, etc.) to seek court approval to obtain a director's usual residential address and identification number in full. A court may grant such access if deemed appropriate. The Companies Registry may also disclose a director's usual residential address if the CR cannot establish contact with the director using the correspondence address provided. Government departments and law enforcement agencies may also obtain full personal details of a director through the CR for law enforcement.
HKIoD is all for accountability of company directors, but the accountability need not come from open access to a director's residential address or to the director's personal identification number in full. The key is to have ways to ascertain the identity of a director. Under the new arrangement, the public will have adequate channels to obtain information to prevent directors from being held accountable or getting away with wrongdoings.
We may still borrow from other jurisdictions to make it more convenient to ascertain a director's identity without attracting abuse of personal information. We can look to Australia, and consider introducing official, unique Director Identification Numbers to be used by the same director across different entities for the duration of the director's life. Such DIN will improve traceability of a director's involvement across different entities at different times. Such traceability would especially help tackle phoenix activities, making it harder for culpable directors to hide.
But for the upstanding director, a DIN will not be a burden and can indeed signify one's credibility.
About The Hong Kong Institute of Directors
The Hong Kong Institute of Directors ("HKIoD") is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. HKIoD is a member institute of the Global Network of Director Institutes, a worldwide alliance of leading director institutes.
Website: http://www.hkiod.com.
Media Enquiries:
Ms Joanne Yam +852 2889 1414 joanne.yam@hkiod.com
Ms Odessa SO +852 2889 4988 odessa.so@hkiod.com
Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com
HKIRA 7th IR Awards 2021 Now Open for Nomination

HONG KONG, Apr 7, 2021 – (ACN Newswire) – Hong Kong Investor Relations Association (HKIRA) is pleased to announce that public nomination is now open for the HKIRA 7th IR Awards 2021 (the 'Awards'). In its seventh consecutive year, HKIRA looks forward to recognizing the efforts of more Hong Kong-listed companies to encourage excellence and best practices in investor relations.
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Dr Eva Chan, Founding Chairman of HKIRA, said, "2020 was a challenging year for many sectors, especially for IR teams when needing to communicate with the investment community during the COVID outbreak. Crisis communication is an important function for IR professionals. We would like to once again recognize the efforts of senior management and IROs for their continuous efforts in upholding the best corporate governance and transparency during these difficult times, and we certainly are looking forward to a better year ahead."
Dr Chan continued, "Asset managers and analysts expect companies to provide critical information about its financial and business status in an efficient manner during the COVID-19 outbreak. More importantly, forward-looking perspectives should be provided to stakeholders so that better valuations can be achieved. Voters of the award will put all these issues under their consideration when they choose their winners, making the IR Award more meaningful for the year of 2020."
Last year, the Awards enjoyed widespread support from the investment community with 168 entries from listed companies received. In addition, over 670 eligible voters and over 310 voting institutions cast a total of more than 9800 votes for 43 award winners in different categories. The volume of polling testifies to the wide recognition of the IR Awards and appreciation of their role among listed companies and within the investment community. Among the winners, Xiaomi Corporation (stock code: 1810), Fortune Real Estate Investment Trust (stock code: 778)and Sa Sa International Holdings Limited (stock code: 178)were awarded Overall Best IR Company by company size – Large Cap, Mid Cap, and Small Cap – respectively.
The HKIRA 7th IR Awards 2021 are once again honoured to have Professor Louis Cheng, Dr. S H Ho Professor of Banking and Finance, The Hang Seng University of Hong Kong, as the Chairman of the Judging Panel. In 2018, a research paper entitled "Relative Valuation Effects of Local and International Analysts' Voting: The Case of Investor Relations Awards" using the proprietary data from the online voting for the HKIRA IR Awards. Based on the final voting data consisting of 418 nominated firms with total valid votes of 18,172 during a three-year period, Professor Cheng has found a positive effect on the stock valuation of awarded firms when the announcements of IR awards are released. Trading volume has significantly increased for the awarded firms. Moreover, the level of transparency suggests that the nominated but not awarded firms show significant improvement in transparency when comparing pre- and post-event periods.
Public nomination for the HKIRA 7th IR Awards 2021 is now open to Hong Kong-listed companies. Nominated individuals and companies will be placed on the online voting list upon confirmation of their participation. The investment community, including buy-side and sell-side analysts, and fund managers, are eligible to vote. Nominees with the highest votes (weighted) in each award category become the award winners. They then undergo a final assessment by the judging panel for the Most Progress in IR, the Overall Best IR Company Awards and the Grand ESG Award. Facilitating a fair and balanced evaluation, the judging panel comprises academics, representatives from professional associations and the investment community.
The HKIRA 7th IR Awards 2021 scheme has a total of 15 award categories honouring best IR practices of individuals and companies. Among these awards, 12 categories are open for nomination and voting, while the other 3 awards are selected by the judging panel. The award winners are to be announced at a ceremony to be held in Hong Kong in August/September 2021. For more information, please visit www.hkira.com/awards.
Strategic Public Relations Group is once again proud to be the Official Public Relations Partner and the Diamond Sponsor for the HKIRA IR Awards this year. Please find key dates relating to the Awards with its categories and criteria for selection listed in the Appendix.
About HKIRA
Hong Kong Investor Relations Association (HKIRA) is a non-profit professional association comprising investor relations practitioners and corporate officers responsible for communication between corporate management and the investment community. HKIRA advocates the setting of international standards in IR education, advances the best IR practices and meets the professional development needs of those interested in pursuing the investor relations profession.
HKIRA is dedicated to advancing the practice of IR as well as the professional competency and status of its members. To date, HKIRA has over 1000 members most of whom are working for companies primarily listed on the Stock Exchange of Hong Kong. About 60% of the Hang Seng Index Constituent Stock companies are currently members of HKIRA. HKIRA's members are from a wide spectrum of professions including IR, finance, accounting, company secretarial to corporate investment and hold positions at different corporate levels, including top executives responsible for IR and management of listed companies. For more information about HKIRA details, please visit our website http://www.hkira.com.
About the IR Awards
The HKIRA Investor Relations Awards (the "IR Awards") is an annual campaign that aims to encourage, recognize and reward the excellence in investor relations practices by individuals and companies listed in Hong Kong Stock Exchange. Since the launch in 2015, each year the Awards seeks out and highlights the incredible achievements of individuals and companies with high standards in investor relations through their role modelling to the investment community.
The Awards ceremony, consisting of a conference in the morning and presentation in the afternoon, is a spectacular gathering of IR specialists and industry professionals that applauds and publicizes the year's achievements in investor relations. For details of the Awards and online nominations, please visit http://www.hkira.com/awards.
Media enquiries:
Strategic Public Relations Group
Cindy Lung Tel:+852 2864 4867 Email: cindy.lung@sprg.com.hk
Rachel Ko Tel: +852 2114 2370 Email: rachel.ko@sprg.com.hk
Rachel Lau Tel: +852 2864 4824 Email: rachel.lau@sprg.com.hk
Website: www.sprg.asia
Hong Kong Investor Relations Association
Bowie Chan Tel: +852 2117 1846 Email: irawards@hkira.com
Website: www.hkira.com
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