Duiba’s Surprising 1H2021 Turnaround Supporting Bank SaaS Operations

HONG KONG, Sep 8, 2021 – (ACN Newswire) – Duiba Group (Hong Kong) Ltd, the well-known platform provider of management software, and interactive advertising platform operator founded by Xiao Liang Chen in 2014 and headquartered in Hong Kong, released its interim financial report on August 27, for the First Half 2021.

According to the report, Duiba (HKG:01753) recorded total revenues of RMB720 million, representing an increase of 53.82% from a year earlier, with profit attributable to owners of RMB62.804 million, representing a significant increase from a loss of RMB47.839 million in the First Half of 2020.

Significantly, Duiba recorded revenues on Software as a Service (SaaS) user management processes of RMB68.56 million, representing a sharp increase of 142%. We could guess from the report that Duiba achieved strong First Half 2021 financial results with its existing strategies. But what of Duiba's potential future development?

Getting through tough times to turn around poor profitability

Founded in May 2014, Duiba is a SaaS user management systems provider and interactive advertising platform operator committed to providing enterprise customers with user acquisition, user activation and retention: realization covering the entire user lifetime.

With consideration to the COVID-19 situation, advances in digital technology and the influence of geopolitics have expedited the development of service companies in China, and the rapid growth of high-quality SaaS user management operators such as Duiba, and talk of an emerging SaaS unicorn:

On the one hand, for Chinese SaaS companies, the biggest pain point is the long profit-making cycle. Duiba acquired lots of customers by launching the free-of-charge SaaS user management platform in the early days, and began to offer paid services in April 2018 which led to a significant increase in its business performance.

From 2017 to 2019, Duiba recorded revenue of RMB650 million, RMB1.14 billion and RMB 1.65 billion and an adjusted net profit of RMB120 million, RMB210 million and RMB340 million, respectively, and achieved a three-year profit compound growth rate up to 69.4%.

The above data could tell that Duiba has gone through its no-profit period, and the financial data in the first half of 2021 could also tell that Duiba has come to the performance growth period. On the other hand, what many Chinese companies need from the SaaS industry are integrated solutions, instead of services for any single segment.

The user management services provided by Duiba are full-cycle management services and integrated solutions which cover user acquisition, user activation and retention, realization and other several aspects. Besides, in 2015, Duiba took the lead in conducting the interactive advertising business to reach target customers in non-first-tier cities, and achieved a win-win situation for advertisers, media providers and users through ad realization.

Support for banks with breakthrough offline strategies

The SaaS field is a big market. For SaaS service providers, whether or not they can seize market opportunities has nothing to do with their own strength, but their ability to take the best advantage when opportunity knocks. We find in a careful analysis of Duiba's source of new customers that the increase in Duiba's unit price and customer base mostly comes from offline sources, such as typical banking institutions.

For Duiba, providing SaaS services to banks is a great choice with vast potential opportunities:

First of all, banks are driven by the current trend to move their businesses online. According to a McKinsey survey, 40% of Chinese respondents expressed their preference for mobile banking, and 20% of Chinese respondents expressed their intention to use offline banking outlets less. In the context of the 5G technology and the coming era of 5G, banks will face great difficulties in acquiring new customers in the future and even lose their existing customers if they do not move their businesses online as soon as possible.

Furthermore, banks face challenges in moving their businesses online. Being accustomed to the comfortable days in the past, banks have no idea of Internet, and are too weak to confront Internet giants and fintech companies. Therefore, from the perspective of input-output ratio, banks desperately need outsiders such as SaaS service providers to help them move their businesses online.

Moreover, more and more customers prefer digital banking channels to traditional banking outlets in the context of COVID-19. According to a BCG survey, after COVID-19, the utilization rate of mobile banking is expected to further increase by 19%, and that of traditional banking outlets is expected to further decrease by 26%.

Duiba's advantages in giving professional support to banks are described as below:

On the one hand, Duiba has run online since the beginning and has unique advantages online, and therefore, it can help banks to gradually convert customers who get banking services at offline banking outlets into online customers and include them in banks' systems and to retain existing customers in face of the fierce horizontal competition.

On the other hand, Duiba focuses on user management and is familiar with "Gen Z", and therefore can help banks acquire new customers including "Gen Z".

In Duiba's experience, Gen Z is more likely to participate in discussions on online social platforms and to focus on pan-entertainment information. In terms of daily consumption habits, Gen Z prefers to share membership to watch movies, place group orders for takeaways, search "price-cutting", "coupons" and other discount information before shopping online, and the joy of "bargain hunting" in sales and shopping festivals.

Therefore, in view of Gen Z's consumption habits, Duiba has helped banks to come up with many operation modes centring on user habits, such as IP pets, interactive games and mystery boxes.

According to the feedback from Duiba's partners, with the help of Duiba, one out of four active users of bank cards can be converted on average to apply for instalment credit, with an event participation rate of 72.74% and a sharing rate of 53.8%. It can be seen that the SaaS services provided by Duiba can efficiently support banks in conducting their businesses.

In return, Duiba's professional support to banks has also laid a foundation for its steady long-term business performance. On the one hand, key customers such as banks are very resilient to risks and are less likely to lose due to insolvency, and they are financially strong and have a strong willingness to renew.

On the other hand, key customers face high replacement costs. For banks, they will not change a SaaS service provider they have selected unless in unavoidable circumstances. This is because if they change, they will not only have to pay high costs of data transfer involving several divisions and businesses but also face the risk of data loss.

Generally speaking, key customers such as banks have a positive, long-term and sustainable impact on the growth of Duiba's business performance. But in addition, Duiba has expanded its business since April 2018 to include offline companies with strong latent demand for user management solutions, a nimble strategy that led exactly to Duiba's business outperformance.

Contact:
Jing Gao, Peanutmedia
E-mail: gaojing@czgmcn.com
Website: www.Peanutmedia.com

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

New treatment option for schizophrenia Reagila(R) listed on PBS

MELBOURNE, Sep 6, 2021 – (ACN Newswire) – A new treatment for schizophrenia in adults, Reagila(R) (cariprazine), was listed on the Pharmaceutical Benefits Scheme (PBS) on 1 September, providing patients with an additional treatment option. Approved in the US since 2015 and EU since 2017, Reagila is approved in over 52 countries for the treatment of schizophrenia in adults.

Schizophrenia is a complex psychiatric disorder comprising a range of symptoms – positive symptoms include hallucinations and delusions, while negative symptoms include social withdrawal and apathy.

Affecting some 90,000 Australians, schizophrenia is our most stigmatised and disabling mental illness, with life expectancy nearly 15 years below the general population.

Reagila, in-licensed by Seqirus, a wholly-owned subsidiary of CSL, is an atypical antipsychotic which indirectly targets two neurotransmitters in the brain: dopamine and serotonin. Neurotransmitters are considered the brain's 'chemical pathways'.

Professor Ian Hickie, Co-Director for Health & Policy, The Brain and Mind Centre, University of Sydney and NHMRC Senior Principal Research Fellow said this listing highlights ongoing efforts to provide new treatments for schizophrenia and ensures people living with the illness have affordable access to a wider range of treatments.

"The complex nature of schizophrenia, whereby people experience a range of different problems, means treatment is not a "one size fits all". Additional options are most welcome and help to reduce the current barriers to effective treatment," said Prof Hickie.

"The annual cost to Australian society of psychosis is an estimated $6 billion. However, this figure does not account for the impacts endured by individuals, their families, and the supporting community.

"Schizophrenia is a complex and often persistent mental illness. It not only affects brain function and behaviour but is also associated with serious impacts on physical health. Consequently, it is associated with very high rates of premature death, often due to preventable illnesses such as heart disease, diabetes, infections, accidents and suicide," Prof Hickie said.

National CEO of the Mental Illness Fellowship of Australia (MIFA) Tony Stevenson welcomed the reimbursement of a new treatment option for those living with schizophrenia.

"The availability and accessibility of affordable treatment options for adults living with schizophrenia is crucial for the patient community, given the stigma they experience with the disorder, and resulting social isolation," said Mr Stevenson.

"Sadly, stigma can contribute to the impact of psychosis in schizophrenia, delays in accessing treatment, social isolation, stress, and furthermore, places those affected at higher risk for a more severe course of illness."

According to mental health advocate and policy advisor living with schizophrenia, Richard, 40, Sydney, "mental illness does not make you 'crazy'.

"Everyone needs love and hope, and this applies to those living with a mental illness too," Richard said. "Timely and affordable access to a range of treatment options plays an important role in effectively managing schizophrenia, while importantly, arming the patient community with hope.

"Love gives you a sense of self-worth – of being appreciated, having a net, and not being lonely. Hope gets you up in the morning, and helps to continue one's relationship with mental illness," said Richard.

Dr Jonathan Anderson, Seqirus Head of Medical Affairs Asia Pacific, in Melbourne, said, "The Australian Government's investment in innovative medicines like Reagila(R) is important to ensure Australians have timely and affordable access to treatments which may help to address the unmet need in schizophrenia.

"Seqirus is proud to make Reagila available in Australia for the first time, and we thank the Australian Government for their support in delivering this PBS listing – ensuring Australian adults living with schizophrenia can access this innovative medicine, and do so in an affordable way," Dr Anderson said.

"We know that additional investment in treatment options and support is critical to changing the statistics for people living with schizophrenia, their carers, family and friends"

DIGITAL MEDIA KIT
https://www.schizophreniamediakit.com.au
VNR
https://vimeo.com/592544606/d1188a8813

MEDIA CONTACTS
Joanne Cleary
Senior Manager, Communications, Seqirus
M: 0428 816 751 E: Joanne.Cleary@seqirus.com

Kirsten Bruce
Principal Senior, VIVA! Communications
Mobile: 0401 717 566 / 0421 551 257
Email: kirstenbruce@vivacommunications.com.au

Mel Kheradi
Mobile: 0421 551 257, VIVA! Communications
Email: melorin@vivacommunications.com.au

ABOUT SEQIRUS
Seqirus, a CSL company, is a leading provider of essential vaccines and pharmaceuticals. We have served Australia's healthcare needs for over a century, and today we operate Australia's only local manufacturing facility for seasonal and pandemic influenza vaccine. Seqirus produces a range of unique medicines in the National Interest, and also in-licences a broad range of paediatric and adult vaccines and specialty pharmaceutical products. http://www.seqirus.com.

ABOUT REAGILA(R)
Reagila(R) was TGA approved in November 2020 as a Schedule 4 (Prescription Only Medicine). Reagila is indicated for the treatment of schizophrenia in adult patients, and was listed on the PBS on 1 September 2021 for schizophrenia, requiring a Streamlined Authority prescription.

FURTHER INFORMATION
Reagila is not recommended for use during pregnancy, and in women of childbearing potential not using effective contraception. Breastfeeding is not recommended whilst taking Reagila. For further information, including Contraindications, Precautions, and Interactions, refer to the Product Information and Consumer Medicine Information, or your doctor or pharmacist.

Disclosure statement
No compensation was provided to Professor Ian Hickie, Mr Tony Stevenson, Mental Illness Fellowship of Australia or Richard for this media announcement, and the opinions expressed are their own. Professor Hickie has been briefed by Seqirus on the approved use of this product.

REFERENCES
1. The Pharmaceutical Benefits Scheme Medicine Status Website. CARIPRAZINE. 2021; Available from:
https://www.pbs.gov.au/medicinestatus/document/16.html.
2. Better Health Channel. Schizophrenia. [June 2021]; Available from:
https://www.betterhealth.vic.gov.au/health/ConditionsAndTreatments/schizophrenia.
3. Health Direct. Schizophrenia. 2020 [June 2021]; https://www.healthdirect.gov.au/schizophrenia.

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

TEC case study on the Future of Work found that an increased number of their employees wanted greater workplace flexibility

HONG KONG, Sep 2, 2021 – (ACN Newswire) – The office of the future must be an inspiring physical space that facilitates communication, cooperation and collaboration in order to encourage employees to come into the office, according to the latest case study by The Executive Centre ("TEC"), the leading premium flexible workspace.

Modern technology and globalised communication systems have allowed us to become a more agile and mobile workforce, and these trends have accelerated with the COVID-19 pandemic. The workforce culture today is increasingly championing flexible working practices as the Future of Work, leading to a shift for multinational corporates towards adopting a flexible work culture through an extensive review and analysis of their portfolio and employee needs.

The case study reviews the learnings and provides a roadmap for other organisations that realise the value of flexibility but find it challenging to create an architecture to empower change.

One of the key learnings is that for companies to successfully transition towards flexible working practices, they need to understand their business requirements and priorities first, as there is no one-size-fits-all solution. They must also interview and collaborate with their employees extensively, conduct research to make informed decisions, seek external consultations from multiple industry partners, and understand where their operations need to be geographically and how the occupants will use that space. While the company approach must be tailored, there were three factors that all companies should consider in their workplace strategy: Physical, Digital and Social.

— Physical transformation: As people will be coming into the workplace to perform activities that they cannot do at home, office design will become one that facilitates communication, cooperation and collaboration.

— Digital transformation: With an increasing demand to work flexibly and remotely, technology and digitalisation of workflows will play a pivotal role in enabling day to day productivity.

— Social transformation: As the office will become a place where employees choose to work from, greater incentives will be needed to attract people into the office.

For its Greater Bay Area location, one of TEC's clients realised it required private office spaces and meeting rooms in a CBD location which would allow for multiple business units to operate, and a flexibility to scale up or down as their business needs changed. The Executive Centre's flexible workspace solution gave them the ability to mitigate their risks and reduce costs while remaining in the heart of Guangzhou's central business district.

"As a solution, flexible workspaces provide ready to use, fully furnished and serviced workspaces for the headcount that's needed at hand. This ability to scale up or down or move locations at relatively short notice is a highly intelligent way for companies to address their workspace requirements," said Paul Salnikow, Founder & CEO of The Executive Centre.

See the full case study from the below link for more insights and best practices The Executive Centre's Future of Work collaboration.

https://business-reporter.co.uk/2021/08/23/why-the-future-of-work/.

About The Executive Centre
The Executive Centre (TEC) opened its doors in Hong Kong in 1994 and today boasts over 150+ centres in 32 cities and 14 markets. It is the third largest serviced office business in Asia with annual turnover in excess of US$237 million.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organisation to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organisations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first class Private and Shared Workspaces, Business Concierge Services, and Meeting & Conference facilities to suit any business' needs.

For more information please visit www.executivecentre.com

Press Enquiries

Finsbury Glover Hering
Sheena Shah / Crystal Chow
Sheena.Shah@fgh.com / +852 3166 9855
Crystal.Chow@fgh.com / +852 3166 9838


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

TEC case study on the Future of Work: Standard Chartered Bank found that around 75% of their employees wanted greater workplace flexibility

HONG KONG, Sep 2, 2021 – (ACN Newswire) – The office of the future must be an inspiring physical space that facilitates communication, cooperation and collaboration in order to encourage employees to come into the office, according to the latest case study by The Executive Centre ("TEC"), the leading premium flexible workspace and Standard Chartered Bank.

Modern technology and globalised communication systems have allowed us to become a more agile and mobile workforce, and these trends have accelerated with the COVID-19 pandemic. The workforce culture today is increasingly championing flexible working practices as the Future of Work. Standard Chartered Bank is leading the shift for multinational corporates towards adopting a flexible work culture through an extensive review and analysis of their portfolio and employee needs.

Sheridan Perkins, Property Program Director of Future Workplace, Now at Standard Chartered Bank said, "Initially, we assumed maybe 50% of our employees wanted Flex, but actually from our survey we found that over 75% wanted it. Typically, this was 2-3 days at home and 2-3 days at the office or a third space. Despite some regional nuances, this finding was reasonably consistent across all regions."

The case study reviews the learnings from Standard Chartered Bank's exercise and provides a roadmap for other organisations that realise the value of flexibility but find it challenging to create an architecture to empower change.

One of the key learnings is that for companies to successfully transition towards flexible working practices, they need to understand their business requirements and priorities first, as there is no one-size-fits-all solution. They must also interview and collaborate with their employees extensively, conduct research to make informed decisions, seek external consultations from multiple industry partners, and understand where their operations need to be geographically and how the occupants will use that space. While the company approach must be tailored, there were three factors that all companies should consider in their workplace strategy: Physical, Digital and Social.

— Physical transformation: As people will be coming into the workplace to perform activities that they cannot do at home, office design will become one that facilitates communication, cooperation and collaboration.
— Digital transformation: With an increasing demand to work flexibly and remotely, technology and digitalisation of workflows will play a pivotal role in enabling day to day productivity.
— Social transformation: As the office will become a place where employees choose to work from, greater incentives will be needed to attract people into the office.

For its Greater Bay Area location, Standard Chartered Bank realised it required private office spaces and
meeting rooms in a CBD location which would allow for multiple business units to operate, and a flexibility to scale up or down as their business needs changed. The Executive Centre's flexible workspace solution gave them the ability to mitigate their risks and reduce costs while remaining in the heart of Guangzhou's central business district.

"As a solution, flexible workspaces provide ready to use, fully furnished and serviced workspaces for the headcount that's needed at hand. This ability to scale up or down or move locations at relatively short notice is a highly intelligent way for companies to address their workspace requirements," said Paul Salnikow, Founder & CEO of The Executive Centre.

Shelley Boland, Head of Property Asia Pacific, Standard Chartered Bank added, "The talent of the future are expecting flex; whether that's flexible work hours or locations. Successful adopters of flex will be those that have the foresight to model and visualise how workplace changes may affect business outcomes, operations and employees, and be agile enough to constantly evolve their workspace to those needs. We see flexible office spaces playing a greater role in that strategy."

See the full case study from the below link for more insights and best practices from Standard Chartered Bank and The Executive Centre's Future of Work collaboration.

https://tinyurl.com/3vkbezyn

About The Executive Centre
The Executive Centre (TEC) opened its doors in Hong Kong in 1994 and today boasts over 150+ centres in 32 cities and 14 markets. It is the third largest serviced office business in Asia with annual turnover in excess of US$237 million.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organisation to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organisations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first class Private and Shared Workspaces, Business Concierge Services, and Meeting & Conference facilities to suit any business' needs.

For more information please visit www.executivecentre.com

Press Enquiries

Finsbury Glover Hering
Sheena Shah / Crystal Chow
Sheena.Shah@fgh.com / +852 3166 9855
Crystal.Chow@fgh.com / +852 3166 9838


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

Legend Holdings Announces 2021 Interim Results, Revenue and Net Profit Attributable to Equity Holders Recorded a Historical High

HONG KONG, Sep 2, 2021 – (ACN Newswire) – According to South China Morning Post, in the first half of 2021, the uncertainty of the COVID-19 threatened the global economic recovery, while China benefited from the good control of the epidemic situation, the economy continued to recover steadily, production and market demand continued to increase, many enterprises emerged from the impact of the epidemic and announced excellent interim results. Legend Holdings Corporation (3396.HK) is one of them that has attracted market attention. Legend Holdings announced interim results of the Company and its subsidiaries on August 31, it has made an outstanding performance with both revenue and net profit attributable to equity holders recorded a historical high level. Revenue stood at RMB 228.57 billion, representing a year-on year increase of 24%; net profit attributable to equity holders of the Company amounted to RMB 4.69 billion, representing a year-on year increase of 636%. Driven by the interim results, the share price of Legend Holdings increased 14.83% to HKD 14.4 yesterday, which fully shows that investors are optimistic about its development.

The market is also concerned about the reason why Legend Holdings has achieved high growth. Mr. Li Peng, Executive Director and CEO of Legend Holdings, pointed out the answer, "Through effective management and value-added services, Legend Holdings consolidated and strengthened its business operation fundamentals, steadily developed its pillar assets, and enhanced its competitive advantages. Meanwhile, the Company adjusted its business strategy, seized the opportunity of China's high-quality economic development, and actively promoted the layout of the technology sector to achieve good performance growth, and various business optimization initiatives are steadily progressing. In addition, the Company's funds continued to perform well with the listing of many portfolio companies and the orderly implementation of various fundraising, investment, management and exiting work."

During the first half of 2021, both strategic investments and financial investments segments demonstrated thriving performance. Net profit attributable to equity holders of the Company from strategic investments segment has out of red with approximately RMB3 billion climbs; net profit attributable to equity holders of the Company from financial investments segment soared 81% to approximately RMB2,558 million.

Legend Holdings further strengthened its industrial operation capability and gained profit in all business sectors of strategic investments. For the IT segment, the net profit attributable to equity holders of Legend Holdings generated by Lenovo increased 172% year-on-year. For the advanced manufacturing and professional service segment, its revenue was up by 46% year-on-year to RMB 3,894 million, and net profit attributable to the equity holders of Legend Holdings increased by 108% year-on-year. Agriculture and Food segment benefited from the improvement of fruit and animal protein businesses, contributing a year-on-year increase of 9% to RMB 9,778 million in revenue, and the net profit attributable to equity holders of Legend Holdings was RMB 240 million. The adverse impact of the COVID-19 pandemic on innovative consumption and services has been largely offset, with the revenue rising by 103% year-on-year to RMB 533 million and net profit attributable to equity holders of Legend Holdings of RMB 67 million. Excluding the impact of the one-off loss from share dilution of Hankou Bank, and the disposal and impairment loss of Kaola Technology, the financial services segment recorded net profit attributable to the equity holders of Legend Holdings grew by 20% year-on-year.

The interim results announcement clearly shows the good profits of the above segments, and through in-depth and specific analysis, we can find the enhancement of the competitiveness of Legend Holdings' pillar assets and optimization of asset portfolio. In line with the development trend, Legend Holdings further increased investment in the field of science and technology, adheres to the development path of science and technology leading, deepening innovation-driven, and strengthening industrial synergy to promote sustainable and high-quality development of the enterprise.

Attributable to the global digital and intelligent transformation, Lenovo achieved long-term and sustainable profit growth, with revenue up 25% year-on-year to RMB 210.78 billion, and the net profit attributable to equity holders of Legend Holdings surged by 172% to RMB 1.54 billion. The personal computer business remained No.1 globally, and the non-pc business also showed strong growth. As the consensus "carbon neutrality" accelerates, Lenovo significantly exceeded its emission reduction target in 2019/20 fiscal year and strives to achieve zero carbon emissions by 2050.

Notable highlights were RMB 548 million net profit from Levima Advanced Materials, a 131% increase on the corresponding period, and its market value also saw a significant increase. Meanwhile, it energetically plans for investment and merges and acquisitions, acquiring Levima (Shandong) Chemicals to further improve the industrial layout and enhance the sustainable profitability and stability; investing in Jiangxi Keyuan Bio-Material to cultivate new growth points in the field of biodegradable materials. Furthermore, the company's main plant economic and technological indicators were further optimized, continue to maintain a leading position in the industry.

Banque Internationale a Luxembourg (BIL) displayed significant growth amid the epidemic in Europe. In the first half of 2021, its net profit increased by 18% year-on-year to approximately EUR 47 million, and the assets under management increased to EUR 45.5 billion with CET-1 ratio 13.18%. In response to the new post-epidemic environment, BIL will progressively advance its business in China by further reinforcing the connection among Luxembourg, Switzerland, and Hong Kong SAR and Beijing, China.

Joyvio Group deepened its strategic layout and focused on the core businesses. Joy Wing Mau continued to improve the layout of the whole industrial chain of fruits and achieved rapid revenue growth by reinforcing the advantages in its supply chain and the core products strategy. As prices in the international market continue to rebound, Joyvio Food's salmon business gradually recovered.

In 2020, Legend Holdings took its first strategic stake in Fullhan Microelectronics, laying out the semiconductors track, and as of June 30, 2021, Legend Holdings, as the largest shareholder, holds an aggregate of 15.91% equity in Fullhan Microelectronics through its subsidiaries. Legend Holdings will engage with the Fullhan Microelectronics management team for deeper cooperation to jointly promote the long-term development of Fullhan Microelectronics.

In addition, Legend Holdings continued to exit non-core businesses to ensure a more focused business and accelerate cash and resources flow-back, bringing ample financial resources to future development in new sectors. In the first half of 2021, Legend Holdings determined an orderly exit strategy for Kaola Technology; some equities in investee enterprises from agriculture and food segment were sold.

In the first half of 2021, low interest rates in the market provide a good opportunity for investment, and the capital market progressed strongly. Funds under Legend Holdings demonstrated outstanding results. More than 60 projects were fully or partially exited, contributing more than RMB 2 billion of cash flow.

Legend Star managed eight funds with a size exceeding RMB 3.3 billion, investing in more than 300 domestic and overseas projects accumulatively. During the first half of 2021, Legend Star's total number of investment projects was over 20, it made follow-on investments in approximately 50 projects and exited 15 projects. As of June 30, 2021, the final closing of the 4th USD fund was completed as well as the first round closing of the biotechnology fund. Legend Capital managed a total of 28 funds, with a size of more than RMB 60 billion. As of June 30, 2021, the total amount raised by the funds was RMB 6,335 million. During the first half of 2021, Legend Capital accumulatively completed 20 new project investments, fully or partially exited 33 projects, bringing sound cash returning. As of June 30, in total, 90 of Legend Capital's portfolio companies went public (not including those listed on NEEQS). Hony Capital's businesses cover PE, real estate, public offering fund management, hedge fund, and venture capital. The AUM amounted to RMB 100 billion.

It is also important to note that Legend Holdings has an in-depth understanding of the operation of the capital market, which coincides with the opportunity of a new round of capital market mechanism reform. As of June 30, 2021, 12 portfolio companies got listed, and at least 11 are promoting the IPO.

Eastern Air Logistics was listed on the Shanghai Stock Exchange on June 9, which was the first civil aviation enterprise included in the first batch of domestic pilot enterprises under the mixed-ownership reform-making it a successful case of the "two-wheel-drive business model" of Legend Holdings. Chemclin Diagnostics Corporation, a project in the biomedical field invested by Zhengqi Holdings, was listed on April 9. Gocom Information Technology entered the capital market on June 28, becoming the first stock of industrial railway signal control and intelligent scheduling in China. In addition, Joy Wing Mau and Hankou Bank are orderly preparing IPO.

In terms of financial investment, Keymed Biosciences, invested by Legend Star, issued its IPO in Hong Kong on July 8. Ten enterprises under the management of Legend Capital went public during the first half of 2021, such as CareRay Digital Medical Technology Co., Ltd., Beijing Kawin Technology Share-Holding Co., Ltd., NexImmune, Inc., and New Horizon Health Limited and so on. Besides, Dindong Shopping, invested by Hony Capital, issued its IPO during the first half of 2021.

Legend Holdings and its three fund platforms have paid attention to and invested in the high-tech industry for a long time, accumulating considerable assets. More than 20 portfolio companies were included in the list of National "Little Giants with Specialties, Refined Products and Management, Unique Technologies, and Innovation" announced by the Ministry of Industry and Information Technology of the People's Republic of China (MIIT), such as Fullhan Microelectronics, Gocom Information Technology, QuantumCTek, Sansure Biotech, Hanshow Technology, MNCHIP, INST Magnets, Faith Long Crystal, LEADMICRO, Zonsen Biotech, CAXA, YUNJI Technology and so on. These companies will embrace a broad development space, as they feature remarkable results, high technology, and strong market competitiveness, and suit the trend of industrial upgrading in China.

These developments are exactly in line with Mr. Ning Min's prospect and expectations for Legend Holdings in the future, Ning Min, Chairman, and Executive Director of Legend Holdings, said that, "In the first half of 2021, Legend Holdings grasped the new development pattern, and seized the historical opportunities given by the new era, made steady progress and breakthroughs, and achieved good results, which also laid a more solid foundation for the long-term development of the Company. In the meantime, the Company has always attached great importance to corporate social responsibilities from a strategic perspective, adhered to the mission of 'serving the country through industrial development', and upheld the concept of 'people orientation'. It is our first priority to develop our business in the direction adhered by the state, and to continue to promote win-win development of China's real economy, entrepreneurship and innovation through our own industrial accumulation and unique business model to create better economic and social benefits; the Company will pay constant attention to the environment and energy and support its subsidiaries to play a leading role in green energy conservation and environmental protection; and will continue to insist on social welfare investment."


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

TEC case study with Standard Chartered on Future Workplace found 75% of employees want greater workplace flexibility

HONG KONG, Sep 2, 2021 – (ACN Newswire) – The Office of the Future must be an inspiring physical space that facilitates communication, cooperation and collaboration in order to encourage employees to come into the office, according to the latest case study by The Executive Centre (TEC), the leading premium flexible workspace, and Standard Chartered Bank.



Modern technology and globalised communication systems have allowed us to become a more agile and mobile workforce, and these trends have accelerated with the COVID-19 pandemic. The workforce culture today is increasingly championing flexible working practices as the Future of Work. Standard Chartered Bank is leading the shift for multinational corporates towards adopting a flexible work culture through an extensive review and analysis of their portfolio and employee needs.

Sheridan Perkins, Property Program Director of Future Workplace, now at Standard Chartered Bank said, "Initially, we assumed maybe 50% of our employees wanted Flex, but actually from our survey, we found that over 75% wanted it. Typically, this was 2-3 days at home and 2-3 days at the office or third space. Despite some regional nuances, this finding was reasonably consistent across all regions."

The case study reviews the learnings from Standard Chartered Bank's exercise and provides a roadmap for other organisations that realise the value of flexibility but find it challenging to create an architecture to empower change.

One of the key learnings is that for companies to successfully transition towards flexible working practices, they need to understand their business requirements and priorities first, as there is no one-size-fits-all solution. They must also interview and collaborate with their employees extensively, conduct research to make informed decisions, seek external consultations from multiple industry partners, and understand where their operations need to be geographically and how the occupants will use that space.

While the company approach must be tailored, there were three factors that all companies should consider in their workplace strategy: Physical, Digital and Social.

— Physical transformation:
As people will be coming into the workplace to perform activities that they cannot do at home, office design will become one that facilitates communication, cooperation and collaboration.

— Digital transformation:
With an increasing demand to work flexibly and remotely, technology and digitalisation of workflows will play a pivotal role in enabling day to day productivity.

— Social transformation:
As the office will become a place where employees choose to work from, greater incentives will be needed to attract people into the office.

For its Greater Bay Area location, Standard Chartered Bank realised it required private office spaces and
meeting rooms in a CBD location which would allow for multiple business units to operate, and flexibility to scale up or down as their business needs changed. The Executive Centre's flexible workspace solution gave them the ability to mitigate their risks and reduce costs while remaining in the heart of Guangzhou's central business district.

"As a solution, flexible workspaces provide ready to use, fully furnished and serviced workspaces for the headcount that's needed at hand. This ability to scale up or down or move locations at relatively short notice is a highly intelligent way for companies to address their workspace requirements," said Paul Salnikow, Founder & CEO of The Executive Centre.

Shelley Boland, Head of Property Asia Pacific, Standard Chartered Bank added, "The talent of the future are expecting flex; whether that's flexible work hours or locations. Successful adopters of flex will be those that have the foresight to model and visualise how workplace changes may affect business outcomes, operations and employees, and be agile enough to constantly evolve their workspace to those needs. We see flexible office spaces playing a greater role in that strategy."

Read the full Standard Chartered / TEC case study on the 'Future of Work' at https://business-reporter.co.uk/2021/08/23/why-the-future-of-work/.

About The Executive Centre
The Executive Centre (TEC) opened its doors in Hong Kong in 1994 and today boasts over 150+ centres in 32 cities and 14 markets. It is the third-largest serviced office business in Asia with an annual turnover in excess of US$237 million.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organisation to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organisations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first-class Private and Shared Workspaces, Business Concierge Services, and Meeting & Conference facilities to suit any business' needs. For more information please visit www.executivecentre.com.

Press Enquiries:
Finsbury Glover Hering
Sheena Shah / Crystal Chow
Sheena.Shah@fgh.com / +852 3166 9855
Crystal.Chow@fgh.com / +852 3166 9838

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

Xfers & SEBA Bank Named Finalists for Global CBDC Challenge organised by the Monetary Authority of Singapore

SINGAPORE, Sep 1, 2021 – (ACN Newswire) – Xfers, a Southeast Asia based payments leader holding a Major Payment Institution (MPI) license for e-money issuance, together with its partner, SEBA Bank, a FINMA licensed Swiss Bank providing a seamless, secure, and easy-to-use bridge between digital and traditional assets, today announced that they have been named among the 15 finalists for the Global Central Bank Digital Currency (CBDC) Challenge organised by the Monetary Authority of Singapore (MAS).

Launched by the Monetary Authority of Singapore and in partnership with the International Monetary Fund, World Bank, Asian Development Bank, United Nations Capital Development Fund, United Nations High Commission for Refugees, United Nations Development Programme, and the Organisation for Economic Co-operation and Development (OECD), the Global CBDC Challenge calls for FinTech companies, financial institutions and solution providers around the world to submit innovative retail CBDC solutions to enhance payment efficiencies and promote financial inclusion.

The joint proposal submitted by Xfers and SEBA Bank was shortlisted from over 300 applications representing over 50 countries and will be presented to the public and a panel of judges at the Singapore Fintech Festival on November 8th, 2021.

Launched in October 2020, StraitsX by Xfers is the first stablecoin initiative focusing on Southeast Asia and issues the StraitsX Singapore dollar, XSGD, a digital token available on the Ethereum and Zilliqa blockchain that is backed one-for-one with the Singapore dollar.

Aymeric Salley, Head of StraitsX, said, "We are delighted to be named finalists for the CBDC challenge by the MAS. We look forward to continuing leveraging our experience as Singapore's first stablecoin issuer, and working closely with our partner, SEBA Bank, which comes with a wealth of expertise and practical experience in developing CBDCs, having just completed a CBDC experiment with Banque de France in June this year."

Founded in 2018, SEBA Bank is a fully licensed FINMA banking and securities dealer. In June this year, SEBA Bank completed a successful CBDC experiment with the Banque de France, which demonstrated the capacity of distributed ledger technologies to communicate with the Eurosystem's settlement platform TARGET2-Securities for the settlement of listed securities. This testing is an important contribution towards the development of an EU wide CBDC.

Matthew Alexander, Head of Digital Corporate Finance & Asset Tokenisation SEBA Bank, commented, "We are thrilled to have been selected by the MAS for this CBDC challenge amongst such a prestigious group of institutions. We look forward to working with our partner Xfers and contributing both our Digital Asset capabilities and recent experience working with the Banque de France CBDC to support the MAS and the Singapore financial centre. At SEBA Bank, we are constantly striving for innovation in the development of digital currencies and digital asset infrastructure. This selection, alongside our partners Xfers, by MAS as a finalist in the CBDC challenge, is a significant validation of our innovation in the development of digital currencies, and builds on our work supporting the Banque de France in CBDC testing. The shortlisting by MAS is testament to SEBA Bank's extensive network and operations in APAC, with the recent appointment of Sam Lin as APAC CEO, and headcount growth in our Singapore and Hong Kong hubs, further solidifying our presence in the region."

About StraitsX by Xfers

StraitsX is the pioneering payments infrastructure for the digital assets space in Southeast Asia developed by Singapore-based FinTech Xfers, which is a Major Payment Institution licensed by the Monetary Authority of Singapore for e-money issuance. StraitsX offers personal and business accounts to deposit, hold and withdraw funds as well as to connect their accounts to digital asset platforms. Business accounts can also access B2B API-enabled payments rails for digital asset platforms and issues the Singapore Dollar-backed stablecoin, XSGD.

About SEBA Bank – The Future of Digital Banking, Investing & Financing

Founded in April 2018 and headquartered in Zug, SEBA Bank is a pioneer in the financial industry and the only global smart bank providing a fully universal suite of regulated banking services in the emerging digital economy. In August 2019, SEBA Bank received a Swiss banking and securities dealer licence – the first time a reputed, regulatory authority such as FINMA has granted a licence to a financial services provider with a core capability in digital assets. The broad, vertically integrated spectrum of services combined with the highest security standards, make SEBA Bank's value proposition unique – this is why Banque de France selected SEBA Bank to test the integration of Central Bank Digital Currency (CBDC). CVVC Global Report and CB Insights named SEBA Bank as Top 50 Companies within the blockchain ecosystem. Aite Group awarded SEBA Bank with their 2021 Digital Wealth Management Impact Innovation Award in the category "Digital Startup of the Year". For more information please visit seba.swiss.

For media queries
PRecious Communications for Xfers
xfers@preciouscomms.com

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

Legend Holdings Revenue and Net Profit Attributable to Equity Holders of the Company Stood at RMB 228.57 Billion and RMB 4.69 Billion in 1H2021

HONG KONG, Sep 1, 2021 – (ACN Newswire) – Legend Holdings Corporation ("Legend Holdings" or the "Company"; stock code: 3396.HK) announced the unaudited interim results of the six months ended June 30, 2021 (the "Reporting Period") on August 31, 2021. During the Reporting Period, the Company's revenue was RMB 228.57 billion, representing a year-on-year increase of 24%, which rose for nine consecutive reporting periods. Net profit attributable to equity holders of the Company amounted to RMB 4.69 billion, which represented a year-on-year increase of 636% and hit a record.

FINANCIAL HIGHLIGHTS
For the six months ended June 30, 2021:
— Revenue stood at RMB 228.57 billion, representing a yoy increase of 24%;
— Net profit attributable to equity holders of the Company amounted to RMB 4.69 billion, representing a yoy increase of 636%;
— Profit for the period reached RMB 8.72 billion, representing a yoy increase of 295%.

Mr. Li Peng, Executive Director and CEO of Legend Holdings, deemed that, "During the first half of 2021, although the global epidemic has recurred and the full recovery of the international market is still waiting for time, China's clear policy guidance, strong government leadership, sufficient domestic market vitality and sustained rapid economic recovery have created good conditions and unique advantages for the development of enterprises, and the introduction of the 14th Five-Year Plan has further pointed out the direction for the development of enterprises. Through effective management and value-added services, Legend Holdings consolidated and strengthened its business operation fundamentals, steadily developed its pillar assets, and enhanced its competitive advantages. Meanwhile, the Company adjusted its business strategy, seized the opportunity of China's high-quality economic development, and actively promoted the layout of the technology sector to achieve good performance growth, and various business optimization initiatives are steadily progressing. In addition, the Company's funds continued to perform well with the listing of many portfolio companies and the orderly implementation of various fundraising, investment, management and exiting work. In the future, Legend Holdings will further improve its industrial foundation, strengthen the resilience of profit growth, seize opportunities brought by the new round of industrial transformation, and accelerate the layout of emerging industries in the field of science and technology, achieve long-term healthy development of the enterprise and contribute greater social value."

Continuously reinforced competitiveness in pillar assets, sustainable optimization and growth of asset portfolio

During the Reporting Period, the company's strategic investment overall operating performance grew steadily, the competitiveness of its pillar assets and focused businesses were further enhanced. The investment portfolio was further adjusted with the improvement of the quality of the asset portfolio, and the return of capital and resources was accelerated. In the meantime, the Company further increased investment in the field of science and technology, adheres to the development path of science and technology leading, deepening innovation-driven, and strengthening industrial synergy to promote sustainable and high-quality development of the enterprise.

Attributable to the global digital and intelligent transformation, Lenovo achieved long-term and sustainable profit growth, with revenue up 25% year-on-year to RMB 210.78 billion, and the Net profit attributable to equity holders of Legend Holdings surged by 172% to RMB 1.54 billion. The personal computer business remained No.1 globally, and the non-pc business also showed strong growth. Infrastructure Solutions Group (ISG) business accelerated profit improvement, with growth rate exceeding the market average for six consecutive quarters. Additionally, Solutions & Services Group (SSG) drives its profitability, and its service-oriented transformation strategy pays off. As the consensus "carbon neutrality" accelerates, Lenovo significantly exceeded its emission reduction target in 2019/20 fiscal year and strives to achieve zero carbon emissions by 2050. As a high-tech manufacturing enterprise, Lenovo will build green manufacturing and supply chain systems through digitization and intelligence to guide and drive the industrial chain to jointly achieve zero carbon transformation, while actively empowering all industries to achieve low-carbon development and make concerted efforts to build a community for people and nature.

Levima Advanced Materials, with more than ten years of development from greenfield, has developed into a high-tech enterprise specializing in advanced high polymer materials and special fine materials. During the Reporting Period, its net profit increased by 131% year-on-year to RMB 548 million. With the steady improvement of the company's results, Levima Advanced Materials' market value also saw a significant increase. Meanwhile, it energetically plans for investment and merges and acquisitions, acquiring Levima (Shandong) Chemicals to further improve the industrial layout and enhance the sustainable profitability and stability; investing in Jiangxi Keyuan Bio-Material to cultivate new growth points in the field of biodegradable materials. Furthermore, the company's main plant economic and technological indicators were further optimized, continue to maintain a leading position in the industry. Levima Advanced Materials continued to strengthen product development and market channel expansion. With product mix further optimized, the market shares of EVA, PP, EOD, and other segmented products continues to maintain the leading position in China. As of the end of the Reporting Period, Levima Advanced Materials had a total of 131 patents approved. The Company also fully utilizes the advantages of its R&D platform to actively promote the development of new products and processes, and has completed the R&D of 16 laboratories, 14 production technology formulations, and the industrialization of 8 new products.

Banque Internationale a Luxembourg (BIL) displayed significant growth amid the epidemic in Europe. In the first half of the year, its net profit increased by 18% year-on-year to approximately EUR 47 million, and the assets under management increased to EUR 45.5 billion with CET-1 ratio 13.18%. BIL's ratings by both Moody's and Standard & Poor's were maintained at A2/Stable/P-1 and A-/Stable/A-2 respectively. In response to the new post-epidemic environment, BIL will continue to strengthen its portfolio of retail, private, and corporate and institutional banking; it will progressively advance its business in China by further reinforcing the connection among Luxembourg, Switzerland, and Hong Kong SAR and Beijing, China; its wealth management business will continue to grow by serving its target markets and targeting its clients with precision; and the target operating model and business culture will turn BIL into a "robust and dynamic" bank.

The two main business lines of Joyvio Group are fruit and high-end animal protein. It is also active in the fields of fresh semi-finished products and agri-food technology. During the Reporting Period, Joyvio Group deepened its strategic layout and focused on the core businesses. Its revenue increased by 9% year-on-year to RMB 9,778 million, and the net profit attributable to equity holders of Legend Holdings was RMB 240 million, thus turning loss into profit. Golden Wing Mau continued to improve the layout of the whole industrial chain of fruits and achieved rapid revenue growth by reinforcing the advantages in its supply chain and the core products strategy. Joyvio's brand influence further expanded and successfully achieved product diversification. As prices in the international market continue to rebound, Joyvio Food's salmon business gradually recovered, while actively promoting the development of value-added 3R products and expanding diversified sales pipeline; the original business continued to maintain its leading position in the industry. In addition, some equities in investee enterprises were sold to further focus on the core business.

In 2020, Legend Holdings took its first strategic stake in Fullhan Microelectronics, laying out the semiconductors track, and as of June 30, 2021, Legend Holdings, as the largest shareholder, holds an aggregate of 15.91% equity in Fullhan Microelectronics through its subsidiaries. Fullhan Microelectronics is China's leading company specializing in the design and development of chips for video-based industries. Fullhan Microelectronics reported revenue of RMB 718 million, a year-on-year increase of 154.37%, and net profit attributable to shareholders of the listed company of RMB 139 million, a year-on-year increase of 215.67%, its 1H2021 results report showed. The robust results significantly drove the growth in its market cap. Semiconductors and integrated circuits are among the fields that Legend Holdings has been keeping its eyes on for a long time. The Company will engage with the Fullhan Microelectronics management team for deeper cooperation to jointly promote the long-term development of Fullhan Microelectronics.

Legend Holdings, during the Reporting Period, further strengthened its industrial operation capability and gained profit in all business sectors. Strategic Investments' net profit attributable to equity holders of the Company increased by approximately RMB 3 billion year-on-year. For the advanced manufacturing and professional service segment, its revenue was up by 46% year-on-year to RMB 3,894 million, and net profit attributable to the equity holders of Legend Holdings increased by 108% year-on-year to RMB 794 million. Eastern Air Logistics (EAL) was listed on the Shanghai Stock Exchange on June 9,-which was the first civil aviation enterprise included in the first batch of domestic pilot enterprises under the mixed-ownership reform-making it a successful case of the "two-wheel-drive business model" of the Company. During the Reporting Period, given the change of market demand, EAL increased its investment in air cargo capacity, expanded the cooperation channels for air cargo capacity and furthered building of "port to port" product system, strengthening customer development and improving service experience, enhancing business results to achieve a year-on-year growth in its results. The financial services segment recorded revenue of RMB 3,141 million and net profit attributable to the equity holders of Legend Holdings of RMB 318 million, excluding the impact of the one-off loss from share dilution of Hankou Bank, and the disposal and impairment loss of Kaola Technology, net profit attributable to the equity holders of Legend Holdings grew by 20% year-on-year. Zhengqi Holdings constantly implemented the business model of "investment-loan linkage", and focused on strategic emerging industries and the ecological chain. Lakala Payment exerted more efforts for product innovation and market development, maintained steady growth in the size of payment transactions and revenue, and the income from technological services continued to grow rapidly. JC Finance & Leasing developed steadily, and its net profit increased by 44% year-on-year. Hyundai Insurance constantly explored product and service innovation. It reported approximately RMB 334 million of accrued income from insurance premiums, an increase of 410% year-on-year. The adverse impact of the COVID-19 pandemic on innovative consumption and services has been largely offset, with the revenue for the Reporting Period rising by 103% year-on-year to RMB 533 million and net profit attributable to equity holders of Legend Holdings of RMB 67 million. In order to cooperate with national policy orientation, Better Education provides inclusive pre-school education services. Shanghai Neuromedical Center continuously promoted the development of competitive neurosurgery and other comprehensive departments and its management and services were further improved.

Fund-raising, investment, management, and exiting from projects under management of financial investments in an orderly manner, continued contribution of solid cash flow

China's economy constantly recovered, and the capital market progressed strongly in the first half of 2021. Funds under Legend Holdings demonstrated outstanding results. Multiple enterprises under management went public. Fund-raising, investment, management, and exiting from projects under management were conducted comprehensively and orderly. More than 60 projects were fully or partially exited, contributing more than RMB 2 billion of cash flow.

Legend Star managed eight funds with a size exceeding RMB 3.3 billion, investing in more than 300 domestic and overseas projects accumulatively. During the Reporting Period, Legend Star's total number of investment projects was over 20, covering different niche segments, such as cutting-edge technology, biotechnology, digital medicine, and TMT. Among the projects under management, it made follow-on investments in approximately 50 projects and exited 15 projects. As of June 30, 2021, the final closing of the 4th USD fund was completed as well as the first round closing of the biotechnology fund.

Legend Capital managed a total of 28 funds, with a size of more than RMB 60 billion. As of June 30, 2021, the total amount raised by the funds was RMB 6,335 million. During the Reporting Period, Legend Capital accumulatively completed 20 new project investments, covering startup stage and growing-stage enterprises in the TMT and innovative consumption, healthcare, corporate services and intelligent manufacturing sectors. It fully or partially exited 33 projects, bringing sound cash returning. As of June 30, in total, 90 of Legend Capital's portfolio companies went public (not including those listed on NEEQS).

Hony Capital's businesses cover PE, real estate, public offering fund management, hedge fund, and venture capital. The AUM amounted to RMB 100 billion. As of June 30, Hony Capital managed 13 funds. Besides, Hony Horizon Fund Management Co., Ltd., a public offering fund management company under Hony Capital, managed seven funds. During the Reporting Period, Hony Capital proceeded with new investment projects in various business segments and progressively made follow-on investments in existing projects. Certain portfolio companies went public, and Hony Capital also actively exited projects, thereby contributing constant and steady cash returning to Legend Holdings.

Legend Holdings and its three fund platforms have paid attention to and invested in the high-tech industry for a long time, accumulating considerable assets. More than 20 portfolio companies were included in the list of National "Little Giants with Specialties, Refined Products and Management, Unique Technologies, and Innovation" announced by the Ministry of Industry and Information Technology of the People's Republic of China (MIIT), such as Fullhan Microelectronics, Gocom Information Technology, QuantumCTek, Sansure Biotech, Hanshow Technology, MNCHIP, INST magnets, Faith Long Crystal, LEADMICRO, Zonsen Biotech, CAXA, YUNJI Technology and so on. These companies will embrace a broad development space, as they feature remarkable results, high technology, and strong market competitiveness, and suit the trend of industrial upgrading in China.

Capital operation continued to advance, multiple portfolio companies successfully listed

The strategic investment and financial investment fund platforms under Legend Holdings continued to promote capital operation during the Reporting Period. As of June 30, 2021, 12 portfolio companies including EAL got listed, and at least 11 are promoting the IPO.

Chemclin Diagnostics Corporation, a project in the biomedical field invested by Zhengqi Holdings, was listed on April 9. Gocom Information Technology entered the capital market on June 28, becoming the first stock of industrial railway signal control and intelligent scheduling in China. Meanwhile, the IPO of a number of Zhengqi Holdings' investee companies was being processed or to be submitted. In addition, Golden Wing Mau and Hankou Bank are orderly preparing IPO.

In terms of financial investment, Conmed Biosciences, invested by Legend Star, issued its IPO in Hong Kong on July 8. Ten enterprises under the management of Legend Capital went public during the Reporting Period, such as CareRay Digital Medical Technology Co., Ltd., Beijing Kawin Technology Share-Holding Co., Ltd., NexImmune, Inc., and New Horizon Health Limited and so on. Besides, Dindong Shopping, invested by Hony Capital, issued its IPO during the Reporting Period.

Mr. Ning Min, Chairman, and Executive Director of Legend Holdings, said that, "In the first half of 2021, in the face of the complicated internal and external environments, Legend Holdings grasped the new development pattern with the domestic cycle as the mainstay and the domestic and international cycles promoting each other, seized the historical opportunities given by the new era, made steady progress and breakthroughs, and achieved good results, which also laid a more solid foundation for the long-term development of the company. In the meantime, the Company has always attached great importance to corporate social responsibilities from a strategic perspective, adhered to the mission of 'serving the country through industrial development', and upheld the concept of 'people orientation'. It is our first priority to develop our business in the direction adhered by the state, and to continue to promote win-win development of China's real economy, entrepreneurship and innovation through our own industrial accumulation and unique business model to create better economic and social benefits; the Company will pay constant attention to the environment and energy and support its subsidiaries to play a leading role in green energy conservation and environmental protection; we will continue to insist on social welfare investment, including entrepreneurial help, education and poverty alleviation, promoting righteousness and responding to natural disasters, while fully studying and combining with national needs to deepen its practice and make greater contributions to the promotion of social justice, common prosperity and the high-quality development of China's economy as well the China's journey towards realizing the second centenary goals."

About Legend Holdings Corporation
Legend Holdings Corporation is a leading industrial investment and operations company in China. It builds up a unique two-wheel-drive business model of "strategic investments + financial investments" and focuses on the real economy and scientific & technological innovation areas. Through value creation and value discovery, the Company cultivates and manages an outstanding asset portfolio with growth potential, driving sustainable value growth. Strategic investments aim at holding over the long term and focus on strategic segments to cultivate and optimize the portfolio while fostering pillar businesses. Through strategic investments, the Company invests in five segments, namely IT, financial services, innovative consumption and services, agriculture and food, and advanced manufacturing and professional services. Financial investments are driven by financial returns with a proper mix of products and target portfolios, and include angel investment, venture capital and private equity investment, creating a holistic financial investment industrial chain. Based on the in-depth understanding of economies and enterprises, Legend Holdings has concluded its distinctive investment concepts and management system. Through forward-looking layout, clear investment strategies and sustained management & value-added services, Legend Holdings has cultivated a number of influential outstanding enterprises in several sectors.


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

ZALL Smart Commerce Group (2098.HK) increased revenue by 40.3% in 1H2021, aims for RMB100 billion on year

SINGAPORE, Sep 1, 2021 – (ACN Newswire) – ZALL Smart Commerce Group (ZALL; 2098.HK), Asia's largest B2B e-commerce group, today announced its results for the first half 2021 (January 1 – June 30, 2021). ZALL's revenue rose by 40.3 per cent year-on-year to RMB 50.16 billion (US$7.76 billion), on the back of stronger Group operating capacity. Gross profit rose to RMB 607 million (US$93.96 million), an increase of 8.1 per cent year-on-year, and profitability remained stable.

Revenues from ZALL's offline wholesale markets and online Industrial Internet platforms such as Shenzhen Sinoagri, ZALL Steel, and Huasuhui steadily increased, benefitting from the gradual increase of services in ZALL's ecosystem, spanning wholesale trade markets, agriculture, steel, plastics and chemicals and other industries. Supply chain services such as finance, warehousing, and logistics also continued to empower upstream and downstream customers in the industry value-chain, laying a solid foundation for rapid growth.

Previously, ZALL embarked on a new strategic rebrand and is committed to becoming the world's largest digital trade platform. The Group looks to incorporate "New Trading Methods" and use advanced digital technologies, such as Big Data, Artificial Intelligence and Blockchain to achieve this goal.

Mr Qi Zhiping, CEO of ZALL Smart Commerce Group said: "ZALL will focus on innovation and the development of digital trade, leveraging data as the driving force to build a new B2B digital trade ecosystem and improve the efficiency of the industrial chain."

New brands, New directions, New trends

During the first half of 2021, the Group saw a growth in customer loyalty as its industry vertical platforms such as Shenzhen Sinoagri, ZALL Steel, and Huasuhui expanded into subcategories to provide practical, efficient and convenient supply chain services for upstream and downstream customers in the industry value-chain:

– Shenzhen Sinoagri has been enhancing their online trading of cocoon silk, sugar, and expanded to include live pigs, corn, coffee and other product categories.
– ZALL Steel has successfully passed the CMMI3 international certification, and its SaaS cloud service was significantly upgraded.
– ZALL Steel Warehouse (Fengshan Port) was successfully inaugurated, and its supply chain service system was gradually improved.
– Huasuhui's supply chain financial service "Plastic Loan" celebrated its first anniversary since its launch and has helped nearly a thousand Micro-, Small- and Medium-Enterprises (MSMEs), enabling a coordinated development ecosystem of industry and finance.
– Leveraging the service capabilities of ZALL's intelligent trading ecosystem to interconnect domestic and international resources, Zallgo facilitates commodity trade flow between wholesale markets and commodities, creating a trillion-level market of commercial tools through digital empowerment, and is committed to becoming a super portal for industrial Internet transactions and services.
– ZALL's offline flagship project, North Hankou International Trade Centre ("North Hankou") actively promotes the integrated development of traditional commerce and live streaming e-commerce. The industry ecology of the live-streaming trade has started to develop, with orders happening at major specialised trading markets in an orderly manner, and the construction of 12 major projects of Wuhan International Trade City progressing smoothly after its upgrade. North Hankou is overall ranked second among China's commercial markets, and is China's largest and the world's leading commercial and logistics platform.

ZALL has also established integrated online and offline development while contributing to China's economic circulation. As a leader in global digital trade, ZALL established ZALL International Trade Group to service MSMEs that is committed to becoming a large-scale comprehensive import and export trade group that "buy from the world and sell to the world". Its principal businesses include operating the national pilot market for foreign trade, comprehensive foreign trade services, and import and export trade. The Group's commodities marketplace, Commodities Intelligence Centre (CIC) uses blockchain technology to provide one-stop cross-border B2B trade to support the entire process of commodity-related transactions, helping companies uncover new business opportunities, reduce transaction costs, and achieve greater trading synergies globally.

ZALL's robust strategic layout and strong operating capabilities are highlighted in the integration of domestic and foreign trade, both online and offline, and the construction of an efficient supply chain service system. During the first half of 2021, ZALL continues to provide services such as smart warehouse logistics and supply chain finance. Powered by information technology, smart warehouse logistics uses Internet of Things (IoT) to integrate automation, informatization, and Artificial Intelligence (AI) technologies for cargo delivery and storage applications, and has helped companies to reduce costs and increase efficiency. Supply chain financial services such as "factory loans" and "supply-guaranteed E-loans" use real-trading scenarios to promote enterprise innovation through the integration of industry and finance, optimizing the overall capital flow of the industrial supply chain, and improving circulation efficiency.

In addition, ZALL is committed to help companies kickstart their business growth through data technology. During the first half of the year, Wuhan City announced their first batch of 271 digital economy application scenario projects. Two solutions developed by ZALL Research Institute, a subsidiary of ZALL, were selected. They include "Banking Financial Product Data Mutual Trust Project based on Low Code Blockchain Solutions" and "Data Cross-Chain Platform based on Privacy Protection". This has further enhanced commercial efficiency in the digital realm.

Coupled with its Corporate Social Responsibility (CSR) efforts, as well as its extraordinary achievements in promoting the digitalisation of traditional enterprises, ZALL has been growing its influence in the field of digital trade for many years. These accomplishments have been widely recognised by the government, financial and industry leaders, media and the general public. During the first half of 2021, ZALL has consecutively won the best new economy award; the most value-added company award; Top 10 listed China Industrial Internet companies; Top 100 in China Industrial Internet (Industrial Digitalization); Hubei's Best Hong Kong Stock Listed Company among other awards, and was ranked 155th in the Fortune China 500 list in 2021.

In 2020, ZALL achieved a revenue of RMB 72.769 billion (US$11.27 billion), in line with expectations. With steady growth of 40 per cent in 2021, ZALL is expected to achieve RMB 100 billion (US$15.49 billion) in revenue this year and reach the top echelon of the industrial digital trade industry. Through this process, ZALL intends to emerge as a leader in new trading methods, while maximising the value of digital trade, and becoming the world's leading digital trade platform.


About ZALL Smart Commerce Group

ZALL Smart Commerce Group is a leading Chinese B2B e-commerce group (ranked 155th of Fortune China 500 companies) with a truly global footprint, and its companies trading worldwide: HKSE, NYSE, SSE and SZSE. ZALL Group develops and operates Asia's largest B2B offline-to-online trade ecosystem, in China and Southeast Asia, including Singapore, with more than 30 B2B platforms in China, US and Singapore, and a GFA of more than 10 million sqm of wholesale trade centres in China. In 2018, ZALL Group achieved a GMV of more than RMB 600 billion (US$85.2 BN), serving over 1 million SME customers worldwide. ZALL has also obtained a virtual banking licence and currently operates Z-Bank in China since 2017, one of China's Top 5 digital banks that has supported more than 5.5 million SME and individual customers.

Since 2018, ZALL has invested in five projects in Singapore, including the Commodities Intelligence Centre (CIC), Singapore's first physical commodity eTrading platform (B2B) powered by blockchain technology; ezbuy.sg, Singapore's leading global online shopping platform; ZMA Smart Capital, an online trade finance company; ZALL Chain Technology, a blockchain solutions company.

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

Honghua Group Announces 2021 Interim Results

HONG KONG, Aug 31, 2021 – (ACN Newswire) – The world's leading onshore oil rig supplier Honghua Group Limited (Ticker: 196.HK, "Honghua" or "the Company") today announced unaudited consolidated interim results for the six months ending on 30 June 2021 ("the period").

In the first half of 2021, oil and gas companies were reluctant to increase upstream investment despite the gradual increase in oil prices, and capital expenditure did not return to the pre-pandemic level. As a result, it takes a while for overseas sales of drilling rigs and other equipment to recover. During the period, the Company's revenue decreased 14.1% year-over-year from RMB1.807 billion to RMB1.552 billion in the first half of 2021. Gross profit was approximately RMB318 million, representing a decrease of 47.6% from RMB608 million for the same period last year. The loss attributable to shareholders of the company was approximately RMB73 million.

Oil and gas engineering services expanded with remarkable overseas business growth

Honghua began to provide oil and gas engineering services in Middle East in 2012, and Honghua oil service team HH029 became the only operation team in Zubair oil field that never suspended operation during the COVID-19 outbreak. With excellent operating capacity, Honghua signed long-term service contracts with various internationally renowned oil service enterprises. Regarding the overseas market, in the first half of the year, the value of new orders signed for overseas oil and gas engineering services of Honghua amounted to about US$120 million. The rig service agreement with Schlumberger has a term of 54 months, the longest service term in the oil service history of Honghua, and is the highest value contract Honghua has signed. The project is expected to commence successively in the second half of the year, which will generate stable and continuous cash flow for Honghua.

Enhanced leading position in fracturing market with digitalization of electric fracturing equipment and services

Honghua's all-electric fracturing has been widely recognized in the market, with a year-on-year increase of 41% in the number of newly signed orders for fracturing engineering services and a year-on-year increase of 24% in the number of newly signed orders for pumping services. In the first half of the year, Honghua provided 2,539 stages of pumping services, representing an increase of 26.4% as compared with the same period last year, despite a large service base. In response to the digital development trend in the industry, Honghua promotes the upgrading of the whole-process electric automation of equipment. Honghua became the first company in China to use the fully electric automated fracturing technology, and has established a digital fracturing simulation laboratory. In terms of fracturing equipment for unconventional oil and gas development, Honghua carried out a comprehensive digital upgrade of electric fracturing pumps and related equipment, and sold the upgraded equipment with sales of approximately RMB250 million. In line with the concept of "all-electric, intelligent fracturing", Honghua launched the first electric coiled tubing unit in China, and it began the sale of the new product after industrial testing. Compared to the traditional diesel coiled tubing unit, the electric coiled tubing unit features excellent performance and efficiency, a high degree of automation and strong synchronous control.

Continued to focus on "equipment to parts and components" strategy, steady growth in equipment market

Under the trend of global energy transition, Honghua continued to implement the strategy of "equipment to parts and components" and focused on providing more tailored services to clients. During the Period, Honghua launched the first automatic machine tool system with "one-key linkage" in China, which has been successfully tested at PetroChina and Sinopec and has been recognized by customers. Meanwhile, breakthroughs have been made in the sales of a number of new products launched by Honghua: the first deployment of a 1600HP mud pump unit on an offshore drilling platform, a series of signing new orders for new-generation five-cylinder pumps, the sale of fracturing sets, and the signing of orders for the rotary running casing.

Outlook

In the second half of 2021, supply and demand in the oil and gas market will be in a tight equilibrium due to expected subdued production growth from OPEC+, slow recovery of shale oil and gas production in the United States and recovery of oil and gas demand. As oil prices remain at mid-high levels, upstream capital expenditure is expected to recover gradually, and the equipment market that lags the recovery of the oil price will rebound in the near term. Honghua will continue to fully play the role of a leading drilling rig company, and promote the transformation and sales growth of complete drilling rigs product set overseas from the aspects of service and equipment upgrading. With its technological research and development advantages, Honghua will accelerate the automation and intelligent iteration of drilling and fracturing equipment, actively promote the sales of new products including "one-key connection" automatic machine tool system, electric coiled tubing and new-generation five-cylinder pumps. In response to China's goal of reaching carbon emissions peak, carbon neutrality and national energy security, Honghua will seize the opportunities around electric development in the unconventional oil and gas market in China and focus on shale oil and other markets with great development potential.

About Honghua Group Ltd
Honghua Group Ltd (Stock Code: 0196.HK, "Honghua") is the main platform for energy equipment development of China Aerospace Science & Industry Corporation ("CASIC"). As one of the leading land drilling equipment manufacturers in the world and the largest land drilling rig exporter in the PRC, Honghua is primarily engaged in developing and manufacturing land drilling equipment (drilling rigs, parts and components as well as downhole tools, etc.), completion products (including fracture package), offshore drilling module and package as well as shale gas and oil exploration and development service. Leveraging strong R&D capability, high-quality production facilities and a mature international sales network, Honghua's products have been sold to a large number of famous enterprises all over the world, across major oil-production regions such as North America, the Middle East and emerging markets including South America, South Asia, Russia, Central Asia and Africa. In the future, Honghua will continue to focus on its key businesses while increasing the resource allocation to unconventional oil and gas business and the "energy + internet" field. Honghua aims at becoming a world leading oilfield service provider.

This press release is issued by ICA Investor Relations (Asia) Limited on behalf of Honghua Group Co., Ltd. For any enquiries, please contact:

ICA Investor Relations (Asia) Limited
Tel: +86 (21) 8028-6033
E-mail: honghua@icaasia.com


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