JE Cleantech (Nasdaq: JCSE) Takes Major Step towards Carbon Neutrality with the Installation of Solar PV Systems

SINGAPORE, Jan 31, 2023 – (ACN Newswire) – JE Cleantech Holdings Limited (Nasdaq: JCSE), (the "Company"), a Singapore-based cleantech company, today announced that the Company has completed the commissioning of solar photovoltaic systems installation at its facilities. The installation of the solar systems is one step further in the Company's efforts toward reducing the impact of its carbon footprint as aligned with its pledge to become carbon neutral by 2030.

The solar photovoltaic systems were installed in October last year and successfully connected today. The solar photovoltaic systems are expected to generate a total of approximately 205,000 kWhs per year, which will respectively cover 29 percent of the energy consumption for the facility manufacturing precision cleaning system and 10 percent of the total energy necessary for the operation of the facilities. Collectively, the implementation of the solar systems will generate an estimated savings of approximately 205,000 kWhs of electricity per year, or approximately SGD 77,000.00 per year for JE Cleantech. Utilization of electricity produced through solar energy is also critical to reducing the Company's dependence on electricity produced by the burning of fossil fuels.

As a leading manufacturer of precision cleaning systems in Singapore, JE Cleantech attaches great importance to its social responsibilities. The installation of solar systems at the Company's facility continues to demonstrate JE Cleantech's efforts towards reducing the impact of its carbon footprint by utilizing non-polluting solar energy as well as maintaining its sustainable growth. The Company plans to take a further step in expanding the coverage of its solar system to another facility, with an aim to increase the overall savings and to facilitate its sustainable goal.

Last year, Singapore committed to reducing emissions to around 60 million tonnes of carbon dioxide equivalent in 2030 and achieving net zero emissions by 2050. Along with this, the Government plans to meet 28% of its peak power demand from solar power by 2030. Solar energy is among the fastest-growing sources of new electric generation in Singapore and it is considered the main renewable energy focus by the Government. In line with this, JE Cleantech is sparing no efforts to support the Government and the local community along this journey.

Ms. Bee Yin Hong, CEO and Founder, JE Cleantech, said "We are proud to take one further step in fulfilling our social responsibilities and support the Government's 2050 net zero initiatives. The installation of solar systems is a milestone of JE Cleantech's support of nature conservation, pollution reduction, and climate change mitigation. This showcases JE Cleantech's ongoing commitment to prioritizing renewable efforts and ensuring a greener and more sustainable future for the community. Looking ahead, we will keep proactively committing to social responsibilities, striving for sustainable growth, and bringing sustainable returns to our shareholders and investors in the long run."

About JE Cleantech Holdings Limited

JE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i) the sale of cleaning systems and other equipment; and (ii) the provision of centralized dishwashing and ancillary services. Through its subsidiary, JCS-Echigo Pte Ltd, the company designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications primarily to customers in Singapore and Malaysia. Its cleaning systems are mainly designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide range of frequencies, high pressure drying technology, high flow rate spray, and deionized water rinses, which are designed for effective removal of contaminants and to minimize particle generation and entrapment. The Company also has provided centralized dishwashing services, through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, both mainly for food and beverage establishments in Singapore. For more information about JE Cleantech, please visit our website: www.jecleantech.sg.

Disclaimer: Forward looking statements

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," "our strategy," or similar expressions. Forward-looking statements made in this press release that relate to our future contract revenues among other things involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update "forward-looking" statements.

For Media Enquiries and Investor Relations, please contact:
jcse@preciouscomms.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Soundskrit and AAC Technologies Announce Partnership to Bring the World’s First High-Performance MEMS Directional Microphones to Market

HONG KONG, Jan 17, 2023 – (ACN Newswire) – Soundskrit, the audio company whose cutting-edge hardware and software promise to lead to a new era for microphone performance, and AAC Technologies Holdings Inc. ("AAC Technologies" or "the Company"; HKEX: 2018), a world-leading total solution provider, announce a partnership to make directional MEMS microphone technologies widely available to end user customers across consumer electronics and automotive markets.

Directional MEMS microphones, bring the capabilities of traditional microphone arrays to a single device, featuring incredibly consistent directionality across the full audible spectrum and a very high directional SNR. Directional microphones are the ideal solution for rejecting undesired background noise and isolating a user's voice. Pairing it with proprietary signal processing enables a new suite of audio-related features and experiences for a wide range of applications including laptops, webcams, smart speakers, TVs, AR/VR, health devices, wearables, vehicles, and more. This new technology rethinks how audio systems are built, unlocking new and better ways to communicate, experience and share the world around us.

Soundskrit brings a commanding expertise in spatial audio processing, MEMS, and acoustic design to AAC Technologies' dominant portfolio of audio and sensing system solutions. AAC Technologies, an established and proven market leader for championing new state-of-the-art sensing technologies, will provide a unique platform to further develop and integrate Soundskrit technologies to serve OEM customers globally. This next generation of audio-based features will create a more connected world, one where distractions are suppressed, and communication barriers are removed.

Whether it's wireless earbuds that enhance your listening, AR glasses of the future that allow real-time translation, or the next generation of vehicle in-cabin audio systems with enhanced noise cancelling, personal communication and playback zones, Soundskrit and AAC Technologies are committed to building the foundational technologies enabling OEMs to start building that future, today.

AAC and Soundskrit have started to engage with the leading ecosystem players and customers across various segments. More product details and launch dates information will be available in the near future.

About AAC Technologies Holdings Inc. (Stock code: 2018)
AAC Technologies is a leading provider of sensory experience solutions with the goal of building the future of interactive sensory technologies. Through continuous innovation and global presence, we have established long-term strategic partnerships with global smart device clients. We have strong capabilities in Acoustics, Optics, Haptics, Sensor and Semiconductor, and Precision Manufacturing based on decades of industry experience. AAC Technologies' mission is to create a better sensory experience for the world, and our mission is to become a global leader in sensory technology with a board solution portfolio. We keep innovating sensory technologies to create new interactive experiences. In the future, we will focus our efforts on the industries of smartphones, intelligent vehicles, virtual reality, artificial reality and smart homes to help create a new era of sensory experience. www.aactechnologies.com

About Soundskrit
Soundskrit is an audio technology company whose cutting-edge hardware and software is paving the way for consumer audio experiences in the future. Their mission is to bring the next generation of high-performance audio-enabled experiences to consumer devices. No more interrupted calls, distorted voice processing, or noise cancellation that lets every surrounding sound in – Soundskrit is evolving the human listening experience so consumers can hear the impossible. www.soundskrit.ca


Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Samsung collaborates with top local CG production team to present immersive 3D programme Impossible Gifting Factory

HONG KONG, Dec 22, 2022 – (ACN Newswire) – Samsung, a worldwide leader in technological innovation, is generating a buzz of excitement in town this winter with a massive outdoor "immersive 3D" new photo hotspot for the holidays! After working with Japanese and Korean teams, Samsung is collaborating with local creative team DL and computer graphics (CG) production house FATface. Together, they will present Impossible Gifting Factory on the ultra-massive Samsung outdoor curved screen that wraps around the facade of Entertainment Building in Central. The visually stunning large-scaled holiday-themed programme is produced with the latest cutting-edge technology. It stars robots performing on the busy street all sorts of electrifying hip-hop break-dancing motion mid-air and handing out virtual presents in their extended arms. This will bring to the busy streets of Central a new immersive visual surprise for the festive season!





Samsung has all along been promoting creativity and the diversification of the creative industry. For this initiative, Samsung is collaborating with FATface, the CG production house behind the highest grossing Chinese-language movies in the history of Hong Kong (FATface took part in the production of special effects of a number of movies, such as Warriors of Future, The Storm Warriors and The Warlords). For the characters, Samsung used the nutcracker robots, reindeer and snowmen designed by DL. Samsung's advanced computer technology and computing applications were used for the animation to reimagine these characters as ultra-3D robots with extremely high levels of visual details. Thanks to such a combination of creativity and technology, the special effects of this holiday-themed 3D animation are truer to life in honour of Samsung's brand ideology – turning the impossible into the possible – which is fused into this production. On the screen, the stage and the robots' movement are so perfectly integrated into the busy street setting. They are so stunningly true-to-life that it will be hard to tell between the reality and the virtual set; in short, the aim is to offer the ultimate visual experience to the audience!

This year's production sets itself apart from the conventional Christmas lights and decorations. Starting from 22 December, the ultra-realistic immersive 3D animation Impossible GIfting Factory can be watched on Samsung's massive SMART LED curved screen on the streets of Central. When being assembled, the nutcracker robots will instantly spring into break-dancing motion, performing a variety of truly wonderful dance moves in a festive setting by busting out complex moves such as the Freeze, the Power Moves and the Flip. They will extend their arms and feet beyond the screen to create an ultra-realistic 3D experience. In the animation, the nutcracker robots will stick their heads beyond the screen, pick up presents and gesture to give them to the audience. Such an entertaining production is undeniably a photo hotspot not to be missed this festive season!

To continue and spread the jolly holiday vibes, Samsung has designed Christmas WhatsApp stickers based on Impossible Gifting Factory featuring the characters, which are available for download through this link (https://whatsticker.online/p/643479C5oLmgT/HK/zh). Everyone can use these stickers to share happiness with friends during this festive season. The collaboration this year demonstrates the boundless creativity of local creative teams while serving as a prime example of collaboration between local teams and multinational corporations. The collaboration will prove itself to be a driving force for the further diversification of the local creative industry and will open up more opportunities for showcasing its achievements.

Through this novelty of immersive interactive experience designed for the holidays, Samsung aims to bring a new visual experience to the traditional holiday while encouraging local productions and creating more opportunities for them, so that audio-visual enjoyment can reach new heights.

Details of the 3D programme Impossible Gifting Factory:
Location: Samsung outdoor screen outside Entertainment Building, 30 Queen's Road Central, Central District
On-air date: Starting from 22 December 2022
On-air time: 06:00am – 01:00am

Please click the link below to retrieve more high-resolution photos and making-of video:
https://bit.ly/3HTxXPm

About Samsung Electronics Co., Ltd.
Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions.

For the latest news, please visit the Samsung Newsroom at http://news.samsung.com.

This press release is issued by Wasabi Creation on behalf of Samsung Electronics Co., Ltd. For more details, please contact:

Wasabi Creation PR Consultancy
Mr. Dicky Li
Tel: +9137 7299
Email: dicky@wasabic.com.hk

Mr. Edmund Chan
Tel: 2811 4900 / 6623 4160
Email: edmund@wasabic.com.hk


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Issuance of Shares and Unlisted Warrants to GCL Technology Chairman Zhu Gongshan was Formally Approved at HG Semiconductor’s Extraordinary General Meeting

HONG KONG, Dec 13, 2022 – (ACN Newswire) – HG Semiconductor Limited ("HG Semiconductor", together with its subsidiaries, "the Group"; stock code: 6908. HK) announced that the resolution of the extraordinary general meeting was duly passed in relation to the investment agreement dated on 4 August 2022 (the "Investment Agreement"), which the Group entered into with Mr. Zhu Gongshan ("Mr. Zhu"), the Founder, Chairman and Executive Director of GCL Technology Holdings Limited (Stock code: 3800.HK; "GCL"), signifying that Mr. Zhu has officially become a major shareholder of the Group.

Pursuant to the Investment Agreement, the Group has agreed to allot and issue, and Mr. Zhu has agreed to subscribe for 60 million subscription shares ("Shares Subscription") and 60 million warrants ("Warrants Subscription"). In view that the due diligence examinations have been completed, and that Mr. Zhu is reasonably satisfied with the results of the examinations, he will participate in the Shares Subscription and Warrants Subscription through his designated beneficially owned entity Profit Act Limited. The subscription shares and warrant shares shall be subject to a lock-up period of 18 months commencing on the date of issuance during which cannot be sold or transferred.

The subscription is a testament to Mr. Zhu's confidence in the prospects of HG Semiconductor. In addition to becoming a major strategic shareholder of the Group, HG Semiconductor entered into a strategic cooperation framework agreement earlier on 7 September 2022 with Golden Concord Group Limited ("Golden Concord Group"), a company ultimately held under a discretionary trust with Mr. Zhu and his family members as beneficiaries, to commence a long-term strategic cooperation focusing on the application of third generation gallium nitride ("GaN") power chips in the field of new energy. Leveraging its leading position in the new energy industry with comprehensive strategic layout, Golden Concord Group will assist HG Semiconductor to tap into the market of new energy supply chain, helping the Group develop its upstream and downstream businesses as well as becoming its close business partner.

The global chip business has been developing rapidly and the changing technology specifications and demand of different markets are the key factors for the Group to source suitable raw materials from different suppliers to cater for the Group's production needs of GaN chips. With the rich resources and leading technology accumulated by Mr. Zhu and Golden Concord Group in the field of new energy over the years, it is believed that the silicon wafers supplied to the Group are of high quality given the crystal lattice of the entire solid of the silicon wafers is continuous, unbroken to its edges, and free of any grain boundaries. The supply of silicon wafers from Golden Concord Group will boost the Group's confidence and ensure the stability and quality of its GaN business development. On the other hand, the third-generation semiconductors such as GaN and other broadband semiconductors are expected to be excellent materials for the energy conversion chain, as they can effectively reduce energy losses and improve energy conversion rates. The Group would supply the manufactured GaN chips to Golden Concord Group from its newly developed Xuzhou Factory with advanced technology, which are the fundamental components used in Golden Concord Group's business in energy engineering, solar inverter and energy storage technology. Golden Concord Group, with its high-quality silicon wafers, may become one of the suppliers to the Group, while it will also become a potential customer of the Group's GaN chips, meaning that both parties would complement each other.

As the digital economy accelerates, the semiconductor industry has gradually become a significant impetus for the global economy and socioeconomic development. The report of the 20th National Congress of the Communist Party of China (CPC) also clearly pointed out that it is necessary to uphold the country's self-reliance and self-improvement in science and technology, opening up new areas and new arenas in development and accelerate China's scientific and technological strength, and steadily fostering new growth drivers and new strengths. At the same time, in order to actively respond to the national policy guidelines, the Hong Kong government has recently established the Microelectronics Technology Consortium and is studying chip technology, promoting more high value-added and high technology manufacturing processes and production lines in Hong Kong; the third-generation semiconductors will therefore play a vital role in the development of technology and economic diversification.

To actively expand its third-generation semiconductor GaN business, HG Semiconductor has established a new factory earlier, with an area of over 7,000 square metres in Xuzhou ("Xuzhou Factory"), and has recently started manufacturing its own 6-inch GaN power device epitaxial wafers, representing a breakthrough and the first stage of the Group's GaN chip business. The Group expects that full production of GaN chips will commence by early 2024. In addition, the Group's research and development team will promote the GaN chips by implementing the GaN chips in the circuitry designed for different applications, to raise the customers' loyalty, while at the same time, relevant GaN devices will also be launched to increase sales.

The management of HG Semiconductor is honored to introduce Mr. Zhu Gongshan as a major strategic shareholder of the Group. After nearly two years of business transformation, the Group has established its outstanding strengths in GaN power semiconductors and new energy industry. The Share Subscription and the Warrant Subscription represent a good opportunity for the Group to raise additional capital for its GaN business development, thereby accelerating its business development. Meanwhile, leveraging Mr. Zhu's background as a major strategic shareholder of the Group, HG Semiconductor is expected to further accelerate the research and development ("R&D") of GaN technology and application in the new energy field, and stride towards the goal of becoming an integrated device manufacturing ("IDM") enterprise with semiconductor design and manufacturing as the core, as well as the integration of R&D, manufacturing, testing, and sales. HG Semiconductor will continue to pursue its established business strategies to capture market opportunities, enhance stakeholder value and achieve long-term sustainable growth, with the aim of providing the best returns to shareholders.

About HG Semiconductor Limited
HG Semiconductor Limited (6908.HK) is principally engaged in semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode ("LED") beads and a new generation of semiconductor gallium nitride ("GaN"). The Group is committed to accelerating its research and development and expansion in the application of GaN related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost.

For more details, please visit www.hg-semiconductor.com


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Singapore-based Semiconductor Equipment and Materials Specialist Rokko Marks 30 Years of R&D Breakthroughs, Focus on Quality & Reliable Technical Support

SINGAPORE, Dec 13, 2022 – (ACN Newswire) – Rokko Holdings Ltd ("Rokko") has marked its 30th anniversary as a proven specialist in the global semiconductor industry, having overcome successive challenges and business cycles through its commitment to innovation and R&D, with a focus on quality and strong technical support at the core of its corporate culture.


Rokko's Founder and Managing Director Mr Gary Lim


With over 89 patents granted related to its semiconductor equipment and advanced material divisions, Rokko has remained nimble while forging industry leadership in providing advanced materials support as well as high-precision equipment for the back end (assembly, testing and packaging services) of the industry.

Headquartered in Singapore, it has benefited from the country's predictable industrial policy and robust legal framework that protects Intellectual Property. Fortuitously, the Singapore domicile has also allowed Rokko to navigate recent challenges of the U.S.-China 'tech war' that have impacted the semiconductor industry in particular.

Rokko has a substantial customer base in China and Taiwan which accounts for over half of its annual revenue for the past few years. The balance is derived from the ASEAN region which has generally avoided geopolitical tensions affecting the chip sector.

Rokko's Founder and Managing Director Mr Gary Lim said, "As 2022 draws to an end, we mark a major milestone in our history as a Singapore enterprise. Our management team has remained resolute in innovating constantly to stay ahead of the curve. This spirit has helped us to overcome many downturns in industry cycles, and in riding out the recent challenges of the pandemic."

According to market research by Gartner, the global semiconductor industry is estimated to achieve global revenue of USD612 billion in 2022. With many industry experts expecting the revenue to rise to USD1.0 trillion by 2030, the sector – and Rokko's prospects – remain bright.

Rokko was established in 1992 by Mr Lim, with an initial 12 employees. It has grown to a team of 250 that includes a pool of talented engineers, operating from 2 facilities in Singapore (including the corporate headquarters) and another 2 manufacturing facilities in Johor state, Malaysia.

The company is renowned for its proprietary back-end semiconductor high-precision equipment such as dual-track Auto Sawing and Sorting systems and Auto Vision Inspection (AVI) systems – which are sought after for their high productivity, reliability and quality.

These and other breakthrough equipment and tooling designs developed by Rokko's exceptional R&D team have set new industry standards. Customers using Rokko's products and solutions have been able to halve their capital expenditure for the complex singulation process of back-end semiconductor packaging and assembly in recent years.

In its second area of semiconductor expertise – advanced materials for semiconductor packaging – Rokko has successfully developed a complex IC leadframe design with an extremely fine line etching process to meet customers' advanced packaging standards.

Rokko's major customers now include the world's top-ranking Outsourced Semiconductor Assembly and Testing (OSAT) players as well as MNCs involved in advanced packaging materials. This successful record has helped Rokko to achieve a critical competitive advantage in volume production after substantial investments in R&D and capacity expansion in recent years.

With a strong commitment to sustainability, the company's environmentally conscious investments include a certified 'Class A' wastewater management system at its facility in Malaysia.

Rokko's products are also certified for the automobile industry's quality standard – IATF16949 – and are also accredited with the ISO14000 environmental compliance standard.

About Rokko Holdings Ltd.

Established in 1992, Rokko Holdings Ltd. ("Rokko") and its subsidiaries (the "Group") provide precision engineering services to well-established customers in the semiconductor and electronics industries. The Group has operations in 4 locations in Singapore and Malaysia, with a combined staff strength of 250. Rokko has been granted 89 patents to date. Its strong emphasis on R&D, backed by a team of talented engineers, has allowed the Company to thrive despite intense competition, and economic and industry cycles.

Rokko is renowned for breakthrough technology and deep commitment to quality and customer support dedicated to the back-end Semiconductor Assembly and Testing sector. Its products include complex IC leadframe design as well as high-precision tooling and equipment under ROKKO trademarks.

Rokko Holdings Ltd.
Tel: +65 6749 5885; Fax: +65 6747 5979
Email: sales@rokko.net
Website: www.rokko.net

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JE Cleantech (JCSE) Announces Annual General Meeting Results

SINGAPORE, Dec 7, 2022 – (ACN Newswire) – JE Cleantech Holdings Limited (Nasdaq: JCSE), ("the Company") a Singapore-based cleantech company, today announced the results of the Company's Annual General Meeting of Shareholders (the "AGM") held on December 6, 2022, at the Company's offices located at 3 Woodlands Sector 1, Singapore 738361.

Appointment of Board of Directors

At the AGM, the shareholders of the Company approved and ratified the appointment of Hong Bee Yin, Long Jia Kwang, Joanne Khoo Su Nee, Karmjit Singh, and Tay Jingyan, Gerald as members of the Board of Directors to serve for the ensuing year.

Approval of Equity Incentive Plan

At the AGM, the Company's shareholders also approved a resolution to adopt the Company's 2022 Equity Incentive Plan.

About JE Cleantech Holdings Limited

JE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i) the sale of cleaning systems and other equipment; and (ii) the provision of centralized dishwashing and ancillary services. Through its subsidiary, JCS-Echigo Pte Ltd, the company designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications primarily to customers in Singapore and Malaysia. Its cleaning systems are mainly designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide range of frequencies, high pressure drying technology, high flow rate spray, and deionized water rinses, which are designed for effective removal of contaminants and to minimize particle generation and entrapment. The Company also has provided centralized dishwashing services, through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, both mainly for food and beverage establishments in Singapore. http://www.jecleantech.sg/

Disclaimer: Forward looking statements

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," "our strategy," or similar expressions. Forward-looking statements made in this press release that relate to our future contract revenues among other things involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update "forward-looking" statements.

For Media Enquiries and Investor Relations, please contact:
jcse@preciouscomms.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JE Cleantech (JCSE) Announces Strong Growth in Q3 2022

SINGAPORE, Nov 30, 2022 – (ACN Newswire) – JE Cleantech Holdings Limited (Nasdaq: JCSE), ("the Company") a Singapore-based cleantech company, today announced encouraging Q3 financial results, for the three months period ended 30 September 2022 (the "reporting period"). During the reporting period, the Company has maintained strong growth in its overall business performance with revenue that more than doubled and a strong turnaround in net income.

For the three months period ended September 30, 2022, the Company's total revenue increased by approximately S$3.5 million or 141.8% to approximately S$5.9 million from approximately S$2.4 million in the quarter ended September 30, 2021. The increase was mainly derived from the increase in revenue generated from the Company's sale of cleaning systems and other equipment business of approximately S$3.2 million and the provision of centralized dishwashing and ancillary services business of approximately S$0.3 million, attributable to the post COVID-19 recovery of business.

Net income of the Company for the reporting period amounted to approximately S$0.6 million, compared to a net loss of approximately S$0.2 million in the same period last year, indicating a significant turnaround for its business performance.

During the reporting period, the Company recorded a gross profit margin of approximately 26.0%, an increase of 63.5% year-over-year. Diluted Earnings Per Share was approximately S$0.05, compared to the basic losses per share of approximately S$0.01 during the same period in 2021.

Ms. Bee Yin Hong, CEO and Founder, JE Cleantech said, "We are excited to announce that JE Cleantech has performed well during Q3 2022. Our Q3 results reflect our strong focus on exploiting the rapid recovery of the electronic manufacturing and F&B sectors. As a leading manufacturer of precision cleaning systems and provider of centralized dishwashing and ancillary services in Singapore, we will continue to drive our long-term expansion plans".

JE Cleantech has been providing centralized dishwashing services in Singapore since 2013, for customers in various industries, including HDD manufacturing, semiconductor manufacturing, food and beverage, and public transportation. The Company's revenue contributes approximately 15 per cent market share in 2020 in terms of revenue (source: Euromonitor estimates from desk research and trade interviews with leading centralized dishwashing services providers and the relevant trade associations in Singapore). Moving forward, the Company will persistently spare no efforts in further expanding its business, widening its product offerings to more industries, growing its market share, and generating long-term and sustainable returns for its shareholders and investors.

About JE Cleantech Holdings Limited

JE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i) the sale of cleaning systems and other equipment; and (ii) the provision of centralized dishwashing and ancillary services. Through its subsidiary, JCS-Echigo Pte Ltd, the company designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications primarily to customers in Singapore and Malaysia. Its cleaning systems are mainly designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide range of frequencies, high pressure drying technology, high flow rate spray, and deionized water rinses, which are designed for effective removal of contaminants and to minimize particle generation and entrapment. The Company also has provided centralized dishwashing services, through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, both mainly for food and beverage establishments in Singapore. http://www.jecleantech.sg/

[1] These financial and other data for the three months and nine months periods ended September 30, 2021 and 2022 have not been audited or reviewed by the Auditors.

Disclaimer: Forward looking statements

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," "our strategy," or similar expressions. Forward-looking statements made in this press release that relate to our future contract revenues among other things involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update "forward-looking" statements.

For Media Enquiries and Investor Relations, please contact:
jcse@preciouscomms.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JE Cleantech Holdings Limited Announces Receipt of NASDAQ Notification Regarding Minimum Bid Price Deficiency

SINGAPORE, Nov 4, 2022 – (ACN Newswire) – JE Cleantech Holdings Limited (Nasdaq: JCSE), a manufacturer of a broad range of cleaning systems, announced that on November 3, 2022, it received a written notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC (the "Nasdaq Notification"). The Notification stated that the Company's ordinary shares failed to maintain a minimum bid price of $1.00 over the last 30 consecutive business days as required by Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). Receipt of the Nasdaq Notification does not result in the immediate delisting of the Company's ordinary shares and has no immediate effect on the listing or the trading of the Company's ordinary shares on the Nasdaq Capital Market under the symbol "JCSE".

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days from the date of the Nasdaq Notification, or until May 2, 2023, to regain compliance with the Minimum Bid Requirement. If at any time before May 2, 2023 the closing bid of the Company's ordinary shares is at least $1.00 for a minimum of 10 consecutive business days, the Company will be deemed to have regained compliance with the Minimum Bid Requirement following which Nasdaq will provide a written confirmation of compliance and the matter will be closed.

In the event that the Company does not regain compliance by May 2, 2023, the Company may be eligible for additional time to qualify. To qualify for additional time, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market with the exception of the bid price requirement.

In the event that the Company does not regain compliance with the Minimum Bid Price Requirement by May 2, 2023 and is ineligible for an additional grace period, Nasdaq will provide further written notice that the Company's ordinary shares are subject to delisting from The Nasdaq Capital Market. In that event, the Company may appeal the determination to a Nasdaq hearings panel or consider transferring the listing and trading of its ordinary shares to the OTCQX of the OTC Markets.

The Company intends to monitor the closing bid price of its ordinary shares. Receipt of the Nasdaq Notification has no effect on the Company's business operations.

"We are cognizant of the value to our shareholders of the listing of our shares on Nasdaq given the liquidity and pricing efficiency that the exchange provides. We pledge our best efforts towards improved performance which we believe will allow to meet the continued listing standards," stated Ms. Bee Yin Hong, CEO and Founder of JE Cleantech.

About JE Cleantech Holdings Limited

JE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i) the sale of cleaning systems and other equipment; and (ii) the provision of centralized dishwashing and ancillary services. Through its subsidiary, JCS-Echigo Pte Ltd, the company designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications primarily to customers in Singapore and Malaysia. Its cleaning systems are mainly designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide range of frequencies, high pressure drying technology, high flow rate spray, and deionized water rinses, which are designed for effective removal of contaminants and to minimize particle generation and entrapment. The Company also has provided centralized dishwashing services, through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, both mainly for food and beverage establishments in Singapore. For more information about JE Cleantech, please visit our website: www.jecleantech.sg.

JE Cleantech Contact:
enquiry@cleantech.sg

Corporate Communications
Address
3 Woodlands Sector 1
Singapore 738361
Telephone
+65 6368 4198

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. JE Cleantech's actual results may differ from their expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue" and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, JE Cleantech's expectations with respect to future performance and anticipated potential financial impacts.

These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside JE Cleantech's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) dependence on our customer groups' needs and relationship with them; (2) the inability to obtain or maintain the listing of JE Cleantech Holdings Limited's ordinary shares on Nasdaq; (3) the ability of JE Cleantech to continue grow its business operations, manage growth profitably, retain its key employees and timing of meeting expected business milestones; (4) changes in applicable laws or regulations; (5) the possibility that JE Cleantech may be adversely affected by other economic, business and/or competitive factors; and (6) other risks and uncertainties identified, including those under "Risk Factors," contained in the filings with the SEC. The foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. JE Cleantech cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. JE Cleantech does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HG Semiconductor Officially Commences Production of GaN Power Electronics Epitaxial Wafer

HONG KONG, Nov 2, 2022 – (ACN Newswire) – HG Semiconductor Limited ("HG Semiconductor", together with its subsidiaries, "the Group"; stock code: 6908.HK) is pleased to announce that the Group has recently started manufacturing its own 6-inch gallium nitride ("GaN") power electronics epitaxial wafer (the "Wafer"). The successful manufacturing of the Wafer happens far earlier than the expected timetable and paves the way to the Group's quick industrialisation and mass production of GaN third-generation conductors, which represents a major achievement of the Group's business transformation into a supplier of third-generation semiconductor GaN, marking a milestone in the commercialisation of its third-generation semiconductor GaN business.

Leveraging its professional expertise, strong scientific team and research and development ("R&D") capabilities in third-generation semiconductor GaN manufacturing, HG Semiconductor has been on its path of strategic transformation in recent years. The Group's technical team has capitalised on their extensive experience to debug production facilities and technology in just three months, and successfully produced the Wafers that reach the high-yield standards of international manufacturers, and subsequently beginning sales of the Wafer. The Group expects to commence pilot production of chips in the second quarter of 2023, and commence mass production by early 2024. In addition, HG Semiconductor has also launched GaN-related fast charging products such as fast charging chargers since the second half of this year. The Group is of full confidence in the prospects of manufacturing and sales of GaN-related products.

In recent years, the development of the global semiconductor industry has undergone significant changes. With increasing uncertainty in the external environment, independence and self-control in developing the whole industrial chain is expected become the key development of the domestic semiconductor industry in the future. The report of the 20th National Congress of the Communist Party of China (CPC) also clearly pointed out that scientific and technological progress and professional talents are crucial to the future development of the country. The report implies that the Chinese government will invest a huge amount of financial resources in the technology industry, which in other words, that mainland China will increase its research expenditures on semiconductor technology and speed up the realisation of high-tech self-reliance. Alongside with the strong support from the Chinese national policies, the Hong Kong government will also allocate more resources in the R&D and manufacturing of third-generation semiconductors in the future. The Hong Kong Applied Science and Technology Research Institute (ASTRI) has proposed to invest additional resources to promote the development of national semiconductor industry, underlining the importance of the industry to regional economic development.

Third-generation semiconductor epitaxial wafers, being one of the core components in the semiconductor industry chain, are semi-finished product which are to be produced as chips through subsequent processing. The successful manufacturing of the Wafer represents a giant leap to HG Semiconductor in reaching its ultimate goal of mass chip production. The third-generation semiconductor epitaxial wafers are widely adopted in the fields of photovoltaics, energy storage, wind power, automotive electronics, 5G, Internet of Things (IoT) and other end-user applications. The rapid growth and robust market demand has led to further speed up the production of domestic epitaxial wafer production facilities, resulting in an optimistic expectation of a continued massive boom in the entire semiconductor epitaxial wafer industry. The market size of the GaN semiconductor epitaxial wafer reached US$420 million in 2021, and is projected to reach US$1.5 billion by 2028, with a compound annual growth rate (CAGR) of 21.2% from 2022 to 2028. With the favourable government policies, extensive downstream applications and domestic substitution acceleration, the Group will continue to spearhead its R&D and expand its design and manufacturing of third-generation semiconductor business and system applications, with a view to achieving breakthroughs in the domestic substitution technology in the future, thereby becoming a leading integrated device manufacturing ("IDM") enterprise covering full-chain operation including R&D, manufacturing, packaging, testing, and sales of semiconductors.

The management of the Group is confident in the development of its third-generation semiconductor business and believes that GaN has tremendous advantages in emerging applications such as new energy automotive industry. Currently, the Group's epitaxial wafer products have now officially entered full-scale production, together with the strong execution capability and rich experience in mass production of the Group's technical team, it is believed that the semiconductor chip business will gradually bear fruits. At earlier time, the Group formally entered into a shares subscription and warrants subscription agreement with Mr. Zhu Gongshan, the Founder, Chairman and Executive Director of GCL Technology Holdings Limited (Stock code: 3800.HK), and subsequently entered into a strategic cooperation framework agreement with GCL Group Limited, a discretionary trust of Mr. Zhu Gongshan and his family members as beneficiaries, under which both parties will cooperate closely in the application of GaN chips in the new energy sector and accelerate the deployment in the GaN industry chain. The management of the Group believes that the tremendous opportunities and market demand in the semiconductor industry will bring more opportunities to the Group. It is expected that the Group will embrace a high-growth period, striving to provide the best returns to its shareholders in the long run.

About HG Semiconductor Limited
HG Semiconductor Limited (6908.HK) is principally engaged in semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode ("LED") beads and a new generation of semiconductor gallium nitride ("GaN"). The Group is committed to accelerating its research and development and expansion in the application of GaN related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost.

For more details, please visit www.hg-semiconductor.com


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Mr. Chow Bok Hin Felix was appointed as the new director of ASTRI

HONG KONG, Oct 24, 2022 – (ACN Newswire) – Niche-Tech Semiconductor Materials Limited ("Niche-Tech Semiconductor" or the "Company", with its subsidiaries collectively referred as the "Group"; HKEx Stock Code: 8490.HK), a leading semiconductor packaging materials manufacturer, is pleased to announce that Mr. Chow Bok Hin Felix, Executive Chairman and Executive Director of the Company, was appointed as the new director of The Hong Kong Applied Science and Technology Research Institute ("ASTRI") for the period from 21 October 2022 to 20 October 2024.

ASTRI is an institute founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong's competitiveness through applied research. ASTRI's core R&D competence in various areas is grouped under four Technology Divisions: Trust and AI Technologies; Communications Technologies; IoT Sensing and AI Technologies and Integrated Circuits and Systems. It is applied across six core areas which are Smart City, Financial Technologies, Re-Industrialisation and Intelligent Manufacturing, Digital Health, Application Specific Integrated Circuits and Metaverse. As of 2021/22, ASTRI has transferred almost 1,250 technologies to the industry and has been granted over 1,000 patents in the Mainland, the US, and other countries.

Mr. Chow has over 13 years of experience in the electronic materials industry. As the Co-founder, Executive Chairman and Executive Director of the Company, he is primarily responsible for the overall management, strategic planning, operation and development of the Group. Being the new director of ASTRI, Mr. Chow's role and position in Niche-Tech Semiconductor will not be changed. What's more, he will contribute his extensive industry experience, with ASTRI's joint efforts, to optimize the ecosystem of innovation and technology in Hong Kong, thereby, contributing to the electronic materials industry by transferring most advanced technologies to the field. Furthermore, under the platform of ASTRI, Mr. Chow will make full use of the industry and R&D resources to introduce cutting-edge technologies to the Company so as to promote its long-term development.

Mr. Chow Bok Hin said, "I am very honoured to join the family of ASTRI. It has been a challenging moment for global economies since 2019, as the Sino-U.S. trade tensions continued and brought uncertainties as well as negative impact to the global industries. However, in the long run, the demand for high efficiency power electronic products is still expected to grow outstandingly, which will drive the further growth of semiconductor industry and bring new opportunities to the semiconductor packaging materials industry. As the new director of ASTRI, I will contribute to the electronic materials industry. Being the Executive Chairman and Executive Director of the Company, I believe that it would be a great opportunity to promote development of Niche-tech and grasp the opportunities arising from the latest trend in the industry."

About Niche-Tech Semiconductor Materials Limited

Niche-Tech Semiconductor Materials Limited ("Niche-Tech Semiconductor") was established in 2006 in Hong Kong and was successfully listed on the GEM of Hong Kong Stock Exchange in 2019. Niche-Tech is a manufacturer of semiconductor packaging materials and new materials in the High and New Technology field, specializing in the development, manufacture and sales of bonding wire, encapsulant and special metal materials. Since 2010, the Group has become a High and New Technology Enterprise in the PRC. Establishing Guangdong Province Semiconductor and Microelectronics Materials Engineering Technology R&D Center, , Niche-Tech was recognised as a National Intellectual Property Outstanding Enterprise by the State Intellectual Property Office of the PRC in 2016 and then obtained the qualifications recognition such as Guangdong Academic Experts (Corporate) Workstation and Guangdong Science and Technology Expert Workstation.

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