Artroniq Spearheads Electric Revolution with Offcial Launch of United E-Motor in Malaysia

KUALA LUMPUR, Oct 30, 2023 – (ACN Newswire) – Artroniq Berhad (“Artroniq”), a key contender on the ACE Market, with its’ game-changing move for the Malaysian electric vehicle industry, has introduced the highly anticipated United E-Motor to the Malaysian market. This collaboration with the flagship electric motorcycle brand of Indonesian manufacturer PT. Terang Dunia Internusa (“PT TDI”) signifies Artroniq’s forward-thinking vision and commitment to sustainable innovations, offering promising investment opportunities.

Mr. Marcus Chin Choon Wei, CFO of Artroniq; His Excellency (H.E) Dato' Indera Hermono, Ambassador Extraordinary and Plenipotentiary of the Republic of Indonesia to Malaysia; Bapak Henry Mulyadi, Founder of United e-Motor — Mr. Marcus Chin Choon Wei, CFO of Artroniq; His Excellency (H.E) Dato’ Indera Hermono, Ambassador Extraordinary and Plenipotentiary of the Republic of Indonesia to Malaysia; Bapak Henry Mulyadi, Founder of United e-Motor

The launch event, set for 2:00 pm on 30th October 2023 at Pavilion Bukit Jalil’s Piazza, will be more than just a product introduction. Alongside electric motorcycle stunt performances, attendees will experience firsthand the prowess of the TX3000 and TX1800 models. The TX3000 boasts a top speed of 90 km/h and a range of 120 km on a single charge, while the TX1800 charges from 0-80% within just 1.5 hours. Both models epitomize modern convenience with features such as built-in Bluetooth, a dedicated mobile app, and more.

The collaboration between seasoned Indonesian brand United E-Motor and Artroniq Bhd is a testament to Artroniq’s strategic foresight. This partnership, formalized in September 2023, allows Artroniq to not only bring electric mobility to the Malaysian masses but also to integrate United E-Motor’s advanced proprietary technology and assembly processes, further strengthening Artroniq’s position in the market.

Moreover, with Malaysia being the maiden country to welcome this iconic Indonesian brand, Artroniq is slated to open experiential concept stores in three prime locations, amplifying its footprint and accessibility.

Mr. Marcus Chin Choon Wei, CFO of Artroniq, commented, “Today marks a significant stride in Artroniq’s journey towards fostering sustainable electric mobility in the Malaysian market. We’re exceptionally glad to collaborate with PT. Terang Dunia Internusa, a pioneer in this domain. This collaboration not only solidifies our position in the market but also stands as a testament to our commitment towards offering groundbreaking solutions for our stakeholders. I’m confident that our partnership with United E-Motor will unlock unparalleled value for our investors and contribute to a greener future.”

It’s noteworthy that these state-of-the-art electric motorcycles were the chosen mode of transport for world leaders at the 2022 G20 summit. With Artroniq at the helm of this introduction, Malaysian investors and consumers can anticipate a transformative impact on the country’s transportation landscape.

Given the synergy between United E-Motor’s legacy and Artroniq’s robust capabilities, the partnership is poised for exponential growth. Ventures into the manufacturing of electric motorcycle batteries, chargers, and the groundbreaking concept of battery swapping stations highlight Artroniq’s ambition and potential for expansive growth.

As at 27 October 2023, the share price of Artroniq is RM0.85, representing a market capitalisation of RM342.0 million.

Artroniq Bhd: 0038 [BURSA: ARTRONIQ] [RIC: ARTR.KL] [BBG: ARTRONIQ:MK], https://www.artroniq.com/

Appia Completes Lidar and Orthophoto Survey over PCH Ionic Clay Target IV Project Area, Goias, Brazil

Toronto, Ontario–(ACN Newswire – October 27, 2023) – Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (the “Company” or “Appia”) is pleased to announce that it has completed a high-definition Lidar and Orthophoto survey across an area of 1,702.50 hectares which includes the Company’s priority Ionic Clay Target IV project area. Metro Cúbico Engenharia LTDA (Metro) was engaged by Appia to complete the survey.

“Orthophotos are essential for the efficient management of our drill campaign as they provide high-resolution and accurate visual information with maximum detail,” stated Fabricio Santos, Appia’s Geophysics and Processes Manager. “Furthermore, LiDAR surveying provides a highly accurate contribution to terrain modeling, which is essential to ensure the accuracy of the geological model.”

Map #1 – Digital Terrain Model (DTM) with shaded elief and Target IV Boundary

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/185462_map_1_dtm_map.jpg

Metro Cúbico Engenharia LTDA has been working in Brazil since 2012, and is headquartered in São Paulo. Metro is made up of a multidisciplinary technical team with professionals with more than 20 years of experience in various technological areas (Fixed Laser Scanner, Mobile Laser Scanner, Mapping with Drone or UAV, Georadar – Geo Penetrating Radar – GPR, Conventional Topographic Survey, Specialized Industrial Topography) among others.

Background on the PCH Project

The PCH Project is located within the Tocantins Structural Province in the Brasília Fold Belt, more specifically, the Arenópolis Magmatic Arc. The PCH Project is 17,551.07 ha in size and located within the Goiás State of Brazil. It is classified as an alkaline intrusive rock occurrence with highly anomalous REE and Niobium mineralization. This mineralization is related to alkaline lithologies of the Fazenda Buriti Plutonic Complex and the hydrothermal and surface alteration products of this complex by supergene enrichment in a tropical climate. The positive results of the recent geochemical exploration work carried out to date indicates the potential for REEs within lateritic ionic adsorption clays and Niobium.

The technical content in this news release was reviewed and approved by Mr. Don Hains, P.Geo, Consulting Geologist, and a Qualified Person as defined by National Instrument 43-101.

About Appia Rare Earths & Uranium Corp.

Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company is currently focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 113,837.15 hectares (281,297.72 acres) in Saskatchewan. The Company also has a 100% interest in 12,545 hectares (31,000 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. Lastly, the Company holds the right to acquire up to a 70% interest in the PCH Ionic Adsorption Clay Project which is 17,551.07 ha. in size and located within the Goiás State of Brazil. (See June 9th, 2023 Press Release – Click Here)

Appia has 130.5 million common shares outstanding, 143.3 million shares fully diluted.

Cautionary Note Regarding Forward-Looking Statements: This News Release contains forward-looking statements which are typically preceded by, followed by or including the words “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans” or similar expressions. Forward-looking statements are not a guarantee of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

For more information, visit www.appiareu.com.

As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (Twitter, Facebook, LinkedIn) please feel free to send direct messages.

To book a one-on-one 30-minute Zoom video call, please click here.

For further information, please contact:

Tom Drivas, CEO and Director: 416-546-2707, (fax) 416-218-9772 or (email) tdrivas@appiareu.com

Stephen Burega, President: (cell) 647-515-3734 or (email) sburega@appiareu.com

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185462

OfficeRnD Announces Strategic Growth Investment From Blue Star Innovation Partners

FRISCO, TX, Oct 26, 2023 – (ACN Newswire) – OfficeRnD, a leading provider of coworking and hybrid work software, today announced a strategic investment from Blue Star Innovation Partners (“BSIP”). This partnership with BSIP will enable OfficeRnD to further expand its position as a market-leading software solution for coworking workspaces and businesses operating in hybrid work environments.

Flexible working has become an attractive option for employers and employees alike as they navigate the new ways of working post-COVID, offering the flexibility of working from home along with the social and professional benefits of working in-office. OfficeRnD has grown and scaled rapidly since its inception in 2015, building a customer base of over one thousand companies across 70 countries that rely on their Flex or Hybrid products to run their operations.

Miro Miroslavov, CEO of OfficeRnD, said, “As a customer-focused organization, we are committed to our industry and our clients’ success. We knew that if we wanted to serve our mission even better and serve more businesses, we needed a partner with real experience working with property management solutions. After many months of careful vetting, BSIP was the clear choice due to its outstanding track record with other PropTech solutions and we’re excited to leverage their expertise to build the best solution possible for our customers.”

The injection of capital, coupled with BSIP’s operational, software, and integrated payments expertise, will be instrumental in accelerating the speed of OfficeRnD’s business growth and product offering. The partnership also enables OfficeRnD to further expand its global reach into North America and tap into a deep bench of operational partners.

“Through our work across the PropTech ecosystem, we have greatly admired the quality of OfficeRnD’s software and their relentless focus on the needs of their customers,” said Dan Wechsler, CEO of Blue Star Innovation Partners. “We are grateful for the opportunity to partner with Miro and the rest of the OfficeRnD team as they continue to make property management more efficient, so flexible workplaces can focus on delivering the highest quality experience for their tenants.”

About Blue Star Innovation Partners

Blue Star Innovation Partners (“BSIP”) is a Frisco-based investment firm that partners with leading software and payments companies. Learn more at https://bluestarinnovationpartners.com/.

About OfficeRnD

OfficeRnD builds technologies that power workplace flexibility. Our software solutions are tailored to meet the needs of coworking spaces (OfficeRnD Flex) and businesses (OfficeRnD Hybrid). Learn more at https://www.officernd.com/.

Contact Information
Samantha Kenney, Chief Marketing Officer, samantha.kenney@officernd.com
Linsey Gandy, Chief Compliance Officer, linsey@bluestarinnovationpartners.com

OfficeRnD Leadership Team
https://cdn.newswire.com/files/x/43/b7/186b780db27682edb0bffa7d90eb.png
Miro Miroslavov and Miroslav Nedyalkov, OfficeRnD Co-Founders
https://cdn.newswire.com/files/x/e4/43/47798148cfbb3340e1d2c3490121.jpg

Malaysia’s Homegrown AGAPE ATP Corporation Makes Landmark Transition to NASDAQ, Excelling on International Stage

KUALA LUMPUR, Oct 17, 2023 – (ACN Newswire) – AGAPE ATP Corporation (“Agape” or the “Company”), a leading player in Malaysia’s sustainable health and wellness sector, announced its successful transition from the Over the Counter (OTC) to Nasdaq stock exchange (Stock Code: ATPC) today at a press conference. This significant step reflects Agape’s strategic progression and ambition on the global stage, positioning them alongside a select group of Malaysian companies to make this transition.

Agape Kuala Lumpur Press Conference, From L-R: Mr. Vincent Tan Inn Shen, Vice President, Corporate Affairs; Dato Sri Dr. How Kok Choong J.P., Chairman and Chief Executive Officer; Mr. Ting Wan Lock, Head of Corporate Finance

Agape, headquartered in Malaysia, is primarily engaged in the sustainable health and wellness industry. The company is renowned for offering a wide range of premium health and wellness products, coupled with advisory services centred around the “ATP Zeta Health Program”. This program aims to address challenges related to the effects of pollution, dietary choices, and lifestyle habits, promoting overall health and a sustained life for its clientele. With a mission that revolves around health means wealth, Agape continues to take giant steps in the sector.

Agape Nasdaq Listing, From L-R: Mr. Adam Pasholk, Managing Director of Network 1 Financial Securities, Inc; Prof. Dr. Taruna Ikrar, Chairman of the Medical Council/Konsil Kedokteran Indonesia, Director of the world medical association and Head of Medical Team, Agape ATP; His Excellency Dato Seri Mohamed Nazri Abdul Aziz, Ambassador of Malaysia to the United States; Dato’ Sri Dr. How Kok Choong, Chairman and CEO of Agape ATP

Founder and Chief Executive Officer Dato Sri Dr. How Kok Choong J.P. comments on this pivotal shift, “The journey to Nasdaq is not just a corporate milestone for Agape ATP; it is a reflection of our relentless dedication to sustainable health, wellness, and the betterment of society at large. Listing on Nasdaq gives us the credibility to expand internationally. It also provides the opportunity to support local Small-Medium Enterprises (SMEs) with untapped potential.”

Dato Dr. How explained that the decision to list on Nasdaq was a strategic move to expose Agape to the international markets, starting with the U.S. and propelling the Company towards Europe and beyond. This leap aligns seamlessly with the Agape’s core mission and aspirations.

He added, “The successful listing on Nasdaq underscores the unwavering trust placed in us by our investors and shareholders. As we tread this new path, we remain firmly rooted in our mission while preparing to secure the immense opportunities that awaits us in the global arena.”

Moving forward, Agape will be setting up an incubator designed to nurture entrepreneurs in the sustainable health and wellness industry. It aims to stimulate the untapped talent within the SMEs thriving in Southeast Asia. Agape will play a vital role as a mentor, providing extensive support for startups, including access to co-working space, essential skills and knowledge, access to international networks, and sustainable finance.

Agape also inked a Memorandum of Understanding today with My Life Center, a distinguished Malaysian wellness center with over four decades of experience in the practice of Green Medicine.

My Life Center specializes in natural prevention and healing, particularly in addressing cardiovascular disease, diabetes complications, and cancer. This strategic collaboration aligns with Agape’s commitment to offering a holistic and personalized approach and addressing the growing demand for personalized preventive and regenerative medicine.

AGAPE ATP Corporation: [Nasdaq: ATPC], https://www.agapeatpgroup.com/

Appia Reports Remarkable Drilling Results; Doubles Depth of Mineralized Zones at the PCH Ionic Clay Project, Brazil

Toronto, Ontario–(ACN Newswire – October 16, 2023) – Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0.F) (FSE: A0I0.MU) (FSE: A0I0.BE) (the “Company” or “Appia”) announce results from the first 17 drill holes out of 147 completed to date from the Reverse Circulation (RC) drilling campaign at its PCH Ionic Clay Project in Goiás State, Brazil. The results from the first 17 RC drill holes represent a significant doubling in average depth of mineralized zones to 13 metres with overall weighted average grades of 1,566 parts per million (ppm) Total Rare Earth Oxides (TREO) which is comparable to, or surpasses, other well-known international deposits.

Summary:

Reverse Circulation (RC) drill holes assayed: The first 17 RC drill holes of the Phase 1 drill program are all Rare Earth Element (REE) mineralized. A total of 147 holes have been completed to date with an accumulated total of 2,019 metres drilled.
Average depth doubled: The average depth of RC drilling is over 13 metres from surface representing a significant doubling in average depth of the mineralized zones.
Outstanding Grades: The results exhibit overall grades similar to or surpassing known deposits, with remarkable high-grade mineralization identified, including:

PCH-RC-001 from 0m to 15m End of Hole (EOH):
- 1,914 ppm TREO and 510 ppm Magnet Rare Earth Oxides (MREO), or 27% of TREO, including 9m @ 2,300 ppm TREO and 632 ppm MREO, or 27% of TREO from 2m to 11m; and
- 291 ppm Heavy Rare Earth Oxides (HREO), or 15% of TREO, including 9m @ 366 ppm, or 16 % of TREO.
PCH-RC-002 from 0m to 15m (EOH):
- 2,671 ppm TREO and 605 ppm MREO, or 23% of TREO, including 6m @ 5,389 ppm TREO and 1,189 ppm MREO, or 23% of TREO from 8m to 14m; and
- 220 ppm HREO, or 8% of TREO, including 6m @ 412 ppm HREO, or 8% of TREO.
PCH-RC-008 from 0m to 18m (EOH):
- 2,752 ppm TREO and 741 ppm MREO, or 27% of TREO, including 15m @ 3,084 ppm TREO and 839 ppm MREO, or 27% of TREO from 2m to 17m; and 404 ppm HREO, or 15% of TREO, including 15m @ 460 ppm HREO, or 15% of TREO.
PCH-RC-009 from 0m to 15m (EOH):
- 3,277 ppm TREO and 804 ppm MREO, or 25% of TREO, including 12m @ 3,594 ppm TREO and 886 ppm MREO, or 24% of TREO from 1m to 13m; and
- 251 ppm HREO, or 8 % of TREO, including 12m @ 275 ppm HREO, or 8% of TREO.
PCH-RC-011 from 0m to 15m (EOH):
- 3,717 ppm TREO and 913 ppm MREO, or 25% of TREO, including 11m @ 4,182 ppm TREO and 1,035 ppm MREO, or 25% of TREO from 0m to 11m; and
- 286 ppm HREO, or 8 % of TREO, including 11m @ 327 ppm HREO, or 8% of TREO.

Table 1 – Highlighted assay composites from 17 reverse circulation drillholes in the Target IV.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/184083_ec21b0a1a4ab4a1b_005full.jpg

TREO = ([CeO2 ppm] + [Dy2O3 ppm] + [Er2O3 ppm] + [Eu2O3 ppm] + [Gd2O3 ppm] + [Ho2O3 ppm] + [La2O3 ppm] + [Lu2O3] ppm] + [Nd2O3 ppm] + [Pr6O11 ppm] + [Sm2O3 ppm] + [Tb4O7 ppm] + [Tm2O3 ppm] + [Yb2O3 ppm]). MREO = ([Dy2O3 ppm] + [Pr6O11 ppm] + [Nd2O3 ppm] + [Sm2O3 ppm] + [Tb4O7 ppm]). HREO = [Dy2O3 ppm] + [Er2O3 ppm] + [Eu2O3 ppm] + [Gd2O3 ppm] + [Ho2O3 ppm] + [Lu2O3] ppm] + [Sm2O3 ppm] + [Tb4O7 ppm] + [Tm2O3 ppm] + [Yb2O3 ppm]).

For a complete listing of all assay results, please click here.

“These exceptional drilling results have confirmed the potential of Target IV,” stated Stephen Burega, president. “The assay results received to date showcase substantial mineralization across 100% of the drill holes.”

Tom Drivas, CEO, said, “It’s very exciting to witness the PCH Ionic Clay project’s potential increasing through this Phase 1 drilling campaign with the average depth of mineralized zones increasing to 13 metres while consistently delivering extraordinary overall assay values which, in many cases, are from top to bottom of the hole.”

He continued, “Ionic Clay Rare Earths Deposits are usually found within the top 10-20m from surface; they are easier to mine, more environmentally friendly because they contain low or no radioactivity; exhibit simpler metallurgy therefore easier and cheaper to process; and contain good amounts of both the very valuable heavy and light magnet rare earths that are in high demand for cleaner electrification and use in a large number of high tech applications.”

The PCH Ionic Clay Project drilling has resulted in 17 holes with a weighted average value of 1,566 ppm TREO, which is comparable to, or surpasses, other well-known international deposits. “This initial batch of samples has revealed MREO that account for approximately 25% of TREO, producing notable overall values up to 1,189 ppm. We have identified high-grade values that are exceptional in terms of both width and grades,” stated Carlos Bastos, Brazilian Qualified Person and Geology Manager.

Target IV marks a significant milestone for Appia’s PCH Ionic Clay project, and the Company eagerly anticipates receiving further assay results from the SGS Geosol labs. “These results reaffirm our commitment to exploring the entire PCH project area which covers an impressive 17,551 hectares with a significant area still open to bluesky early-stage exploration, and we look forward to sharing more exciting developments in the near future,” commented Stephen Burega.

Figure 1. Reverse Circulation drilling program map location.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/184083_ec21b0a1a4ab4a1b_006full.jpg

Figure 2. A representative Cross section of PCH-RC-001, PCH-RC-008, and PCH-RC-009 from Target IV, north-south orientation, and location showed in Figure 1.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/184083_37049f0e74cf6961_007full.jpg

Table 3. Drill hole collar details for 17 RC drilling. SIRGAS 2000 – UTM zone 22S.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/184083_ec21b0a1a4ab4a1b_008full.jpg

Background on the PCH Project

Reverse circulation (RC) drill holes are sampled at one metre intervals, resulting in higher average sample size of 5-25 kg. A small representative specimen was taken from each sample bag and placed into a chip tray for visual inspection and logging by the geologist. Quartering was performed at Appia’s logging facility using a riffle splitter and continued splitting until a representative sample weighing approximately 500g each was obtained, bagged in a resistant plastic bag, labeled, photographed, and stored for shipment.

The samples were sent to the SGS laboratory in Vespasiano, Minas Gerais. Despite the SGS Lab owning internal QA/QC, Appia has used its own control samples in each batch sent to the laboratory.

Quality control samples, such as blank, duplicate, and standard (CRM) were inserted into each analytical run. For all analysis methods, the minimum number of QA/QC samples is one standard, one duplicate and one blank, introduced every batch which comprise a full-length hole. The rigorous procedures implemented during the sample collection, preparation, and analysis stages underscore the robustness and reliability of the analytical results obtained.

All analytical results reported herein have passed internal QA/QC review and compilation. All assay results of RC samples were provided by SGS Geosol, an ISO/IEC 17025:2005 certified laboratory, which performed their measure of the concentration of rare earth elements (REE) analyses by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) analytical methods.

The technical content in this news release was reviewed and approved by Mr. Don Hains, P.Geo, Consulting Geologist, and a Qualified Person as defined by National Instrument 43-101.

About Appia Rare Earths & Uranium Corp. (Appia)

Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company is currently focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 113,837.15 hectares (281,297.72 acres) in Saskatchewan. The Company also has a 100% interest in 12,545 hectares (31,000 acres), with rare earth elements and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. Lastly, the Company holds the right to acquire up to a 70% interest in the PCH Ionic Adsorption Clay Project which is 17,551.07 ha. in size and located within the Goiás State of Brazil. (See June 9th, 2023 Press Release – Click Here)

Appia has 130.5 million common shares outstanding, and 143.3 million shares fully diluted.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

For more information, visit www.appiareu.com

As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (Twitter, Facebook, LinkedIn) please feel free to send direct messages.

To book a one-on-one 30-minute Zoom video call, please click here.

For further information, please contact:

Tom Drivas, CEO and Director: 416-546-2707, (fax) 416-218-9772 or (email) tdrivas@appiareu.com

Stephen Burega, President: (cell) 647-515-3734 or (email) sburega@appiareu.com

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/184083

BDO announces winners of the 5th BDO ESG Awards 2023

Hong Kong, Oct 13, 2023 – (ACN Newswire) – BDO, the world’s fifth largest accountancy and advisory network, announced the winners of the 5th BDO ESG Awards (the Awards), comprising listed companies in Hong Kong that have made a positive impact in the Environmental, Social, and Governance (ESG) domains through the implementation of outstanding sustainability initiatives. The winners were made known during the BDO ESG Awards Presentation Ceremony, which is the first physical awards presentation ceremony to be held since the COVID outbreak. All of the finalists were invited to the ceremony to personally witness and celebrate the remarkable achievements of the winning companies.

The Theme Award this year, echoing the Awards’ position as a champion of ESG excellence, continued to emphasise the importance of carbon neutrality and the urgent need to combat climate change. Correspondingly, it honoured listed companies that have dedicated efforts to achieving carbon neutrality, including their initiatives and performance in reducing carbon emissions. Additionally, this year witnessed the introduction of the new Outstanding ESG Performance of H-share Companies Awards category (full list below).

Mr Clement Chan, BBS MH JP, Managing Director, BDO, said, “We are pleased to see an overwhelming number of nominations this year, which represent listed companies in Hong Kong in general are now better equipped themselves to meet ESG compliance and commitments. BDO has long been an advocate of sustainability. We have not only incorporated ESG practices into our own operations, but also assist companies on ESG reporting and risk management. Moreover, with our commitment to promoting the importance of ESG, we established the Awards with the objectives of spurring more enterprises to implement best ESG practices and make every effort in creating a greener world.”

Mr Johnson Kong, Managing Director, BDO, said, “Through the peer benchmarking of ESG reporting and performance among Hong Kong listed companies, and the encouragement of ESG awards like ours, we hope that listed companies will be motivated to keep improving their ESG performance. Looking ahead, BDO will continue to support Hong Kong listed companies in improving all aspects of ESG so as to create long-term value and maintain Hong Kong as a leading international financial centre and green finance hub.”

This year’s awards have received significant recognition from listed companies in Hong Kong, as demonstrated by the impressive number of nominations received. As the winners hail from diverse industries and vary in market capitalisation, this highlights the wide-ranging excellence of the competing field. Noteworthy recipients include Sino Land Company Limited (00083.HK), Kerry Properties Limited (00683.HK), and China State Construction Development Holdings Limited (00830.HK), that were honoured with the coveted ESG Report of the Year Awards, deemed the most outstanding accolade in ESG performance and reporting. Additionally, CLP Holdings Limited (00002.HK) received the esteemed Theme Award for its exceptional commitment to ESG principles, particularly in the realm of carbon neutrality. Overall, the awards celebrated the commitment and outstanding contributions of listed companies to sustainable practices.

This year’s award presentation ceremony also featured a symposium on ‘Shaping business strategies for carbon neutrality’. Climate change poses economic challenges alongside environmental concerns, and investors now require businesses’ comprehensive transition plans and clear roadmaps for achieving carbon neutrality. In response, The Stock Exchange of Hong Kong Limited has proposed stringent climate-related reporting requirements, emphasising rigorous disclosures and aligning with international standards. Businesses therefore face the dual challenge of mitigating environmental impacts while remaining profitable. The symposium explored the approaches and considerations to take when devising strategies for tackling such challenges.

Panellists including Ricky Cheng, Director and Head of Risk Advisory at BDO; Professor Christine Loh, SBS, JP, OBE, Chevalier de l’Ordre National du Mérite, Chief Development Strategist at The Hong Kong University of Science and Technology; and Ben McQuhae, Founder of Ben McQuhae & Co and Honorary Advisor at Hong Kong Green Finance Association, together with the moderator Eric Ng, News Editor at the Climate Desk of the South China Morning Post, discussed how businesses can meet the expectations of investors and stakeholders, integrate data into science-based targets, accelerate the transition to a low-carbon economy, and leverage ESG as a transformative force. They also covered strategies that enable businesses to align with investor demands, effectively manage risks, and capitalise on opportunities in the context of carbon neutrality and sustainable practices.

BDO ESG Awards 2023 Winners (listed in alphabetical order)

Best in ESG – Large Market Capitalisation

CLP Holdings Limited (00002.HK)

Lenovo Group Limited (00992.HK)

Sino Land Company Limited (00083.HK)

Best in ESG – Mid Market Capitalisation

Kerry Properties Limited (00683.HK)

PCCW Limited (00008.HK)

VTech Holdings Limited (00303.HK)

Best in ESG – Small Market Capitalisation

Canvest Environmental Protection Group Company Limited (01381.HK)

China Everbright Greentech Limited (01257.HK)

Fosun Tourism Group (01992.HK)

Best in Reporting – Large Market Capitalisation

HKT Trust and HKT Limited (06823.HK)

Lenovo Group Limited (00992.HK)

Sino Land Company Limited (00083.HK)

Best in Reporting – Mid Market Capitalisation

Kerry Properties Limited (00683.HK)

PCCW Limited (00008.HK)

VTech Holdings Limited (00303.HK)

Best in Reporting – Small Market Capitalisation

China State Construction Development Holdings Limited (00830.HK)

Q P Group Holdings Limited (01412.HK)

Tam Jai International Co. Limited (02217.HK)

ESG Report of the Year – Large Market Capitalisation

Sino Land Company Limited (00083.HK)

ESG Report of the Year – Mid Market Capitalisation

Kerry Properties Limited (00683.HK)

ESG Report of the Year – Small Market Capitalisation

China State Construction Development Holdings Limited (00830.HK)

Outstanding ESG Performance of H-share Companies

BBMG Corporation (02009.HK)

Ping An Insurance (Group) Company of China, Ltd. (02318.HK)

Zijin Mining Group Company Limited (02899.HK)

Theme Award

CLP Holdings Limited (00002.HK)

Photo 1: Representatives of BDO and panel of judges attend the BDO ESG Awards 2023 Presentation Ceremony.

Photo 2: Symposium panellists (from left to right) moderator Mr Eric Ng, News Editor at the Climate Desk of the South China Morning Post; Mr Ricky Cheng, Director and Head of Risk Advisory at BDO; Mr Ben McQuhae, Founder of Ben McQuhae & Co and Honorary Advisor at Hong Kong Green Finance Association; and Professor Christine Loh, SBS, JP, OBE, Chevalier de l’Ordre National du Merite, Chief Development Strategist at The Hong Kong University of Science and Technology.

Photo 3: A group photo comprising representatives of award winners, BDO, SCMP, HKET and judging panel and supporting organisations at the BDO ESG Awards Presentation Ceremony.

About BDO

BDO’s global organisation extends across 164 countries and territories, with more than 110,300 professionals working out of 1,803 offices – and they’re towards one goal: to provide our clients with exceptional service. BDO was established in Hong Kong in 1981 and is committed to facilitating the growth of businesses by advising the people behind them. BDO in Hong Kong provides an extensive range of professional services including assurance services, business services and outsourcing, risk advisory services, specialist advisory services and tax services. For more details, visit www.bdo.com.hk.

Contacts

BDO Hong Kong

Sala Lo

Senior Marketing Manager & Team Lead, BDO

Tel +852 2218 3042

Mobile +852 9613 5175

salalo@bdo.com.hk

Dora Shing

Marketing Manager, BDO

Tel +852 2218 3110

Mobile +852 9016 8063

dorashing@bdo.com.hk

Strategic Financial Relations Limited

Vicky Lee

Tel +852 2864 4834

vicky.lee@sprg.com.hk

Katrina Hui

Tel +852 2114 4318

katrina.hui@sprg.com.hk

Indonesia Investment Forum 2023: Sustainable projects attract English Investors

LONDON, Oct 13, 2023 – (ACN Newswire) – The Indonesia Investment Promotion Center (IIPC) London, in collaboration with the Embassy of the Republic of Indonesia (KBRI) and the local representation of Bank Indonesia, once again hosted the Indonesia Investment Forum (IIF) 2023 in London, UK, on October 5, 2023.

Thirteen sustainable investment projects in sectors such as energy, industry, electric vehicles, tourism, infrastructure, transportation, mining, and digitization were presented during the business matching session at IIF 2023. These projects managed to pique the interest of approximately 20 investors from London and the surrounding regions.

Participating virtually, Minister of Investment/Head of Indonesia Investment Coordinating Board (BKPM) Bahlil Lahadalia recognized the global economic uncertainty and slowdown, emphasizing Indonesia has maintained positive economic growth of 5.31% in the second quarter of 2023, with inflation remaining below 4%. This achievement is attributable to the significant contribution of investments, making Indonesia the second-largest investment destination in Southeast Asia.

“I invite our friends from the U.K. to be part of this development process. You have the technology, markets, and financial capabilities, while Indonesia possesses abundant natural resources, extensive territory, and market penetration potential worldwide. Come to Indonesia, bring your technology, and we will handle the licensing,” said Bahlil in his address.

Nurul Ichwan, Deputy for Investment Promotion at the Ministry of Investment/BKPM, participated as a panelist in a discussion titled ‘Powering Up: Advancing Sustainable Infrastructure, Financial Sustainability, and Investment in Indonesia.’ She discussed the progress and efforts of the Ministry of Investment/BKPM in advancing investment projects, especially in renewable energy, sustainable investment, and the development of the electric vehicle ecosystem in Indonesia.

“The IIPC London office serves as the main contact point for our British and European investor friends interested in our sustainable projects,” Nurul emphasized.

Several ready-to-offer sustainable investment projects presented by the Ministry of Investment/BKPM include the Electric Motor Industry for Electric Vehicles in Bekasi, West Java; Integrated Charging Station Facility in South Jakarta, DKI Jakarta; Solar Power Plants (PLTS) in Penajam Paser Utara, East Kalimantan, and Lebak, Banten; as well as the Bioethanol Industry in Bojonegoro, East Java, with a total estimated investment value of USD 276 million.

Additionally, the project for the development of the Super Priority Tourism Destination (DPSP) Toba Caldera Resort by the Lake Toba Authority Implementation Agency (BPODT) was offered with an estimated investment value of USD 1.7 billion. Indonesian Ambassador Desra Percaya, Bank Indonesia Governor Perry Warjiyo, and Minister of State for the Investment Security Unit Nusrat Ghani were also present and delivered speeches at the opening of IIF 2023, with the theme “Fostering Sustainable Growth Through Green Investment and Digital Transformation.”

Prominent speakers from both Indonesia and the UK discussed potential economic cooperation between the two countries, including Richard Graham, the UK Trade Envoy to Indonesia, Malaysia, the Philippines, and ASEAN; Lord Vaizey of Didcot, Chairman of the UK ASEAN Business Council; and Rino Donosepoetro, Chairman of the British Chamber of Commerce Indonesia. IIF 2023 was conducted in a hybrid format at the KBRI London office and was attended by more than 200 participants, including business leaders as well as senior banking and investment representatives.

According to data from the Ministry of Investment/BKPM, the UK has been the second-largest European investor in Indonesia in the last five years after the Netherlands, for food crops, plantations, and livestock (24%); mining (20%); food industry (9%); chemical and pharmaceutical industry (8%); and hotels and restaurants (7%), with a total investment realization of more than USD 1.75 billion.

Further information is available via https://iif2023.indonesianembassy.org.uk/

Source: Ministry of Investment/BKPM

ONERHT Foundation Charity Golf 2023 raises more than S$400,000 for disadvantaged groups

SINGAPORE, Oct 9, 2023 – (ACN Newswire) – ONERHT Foundation Ltd (“Foundation”), the corporate social responsibility arm of RHTLaw Asia LLP and the RHT Group of Companies (collectively, “ONERHT”), successfully raised more than S$400,000 for disadvantaged groups with the support of generous donors and sponsors at the Foundation’s Charity Golf 2023 event.

Mr Azman Jaafar, Managing Partner of RHTLaw Asia, Mr Erwan Barre, Board Director of ONERHT Foundation, Ms Kaylee Kwok, Chairman of ONERHT Foundation, Guest-of-Honour Mr Gan Kim Yong, Minister for Trade and Industry, Mr Ho Peng Kee, Patron of ONERHT Foundation, and Mr Bernard Tay, Mr Jayaprakash Jagateesan, Mr Yang Eu Jin, Board Directors of ONERHT Foundation. [L-R]

Ms Kaylee Kwok, Chairman of ONERHT Foundation, said, “We continue to believe in the power of collective efforts with the support of the Foundation’s generous donors and sponsors to make a difference and drive positive change in the community. We remain committed to purposeful growth with philanthropy across the Foundation’s four core pillars of education, environment and sustainability, disadvantaged groups, as well as arts and sports.”

More than 170 golfers participated in the charity golf event held over two days on 29 September and 6 October at Orchid Country Club and Sentosa Golf Club respectively. The event culminated with a gala dinner attended by Guest-of-Honour, Minister for Trade and Industry Mr Gan Kim Yong, and more than 200 guests.

The Foundation, a registered charity and grant-making philanthropic organisation, collaborates with charitable organisations to support meaningful programmes that address various community needs in Singapore. Funds raised from this year’s charity golf event, now in its 8th edition, will provide crucial support to a range of beneficiaries, including:

· PAP Community Foundation Sparkle Care Centres

· Life Community Services Society

· Singapore Cancer Society

· Singapore Road Safety Council

Mr Jayaprakash Jagateesan, ONERHT Foundation Board Director and AlDigi Group Chief Executive Officer, said, “We believe that sustainable businesses must go beyond seeking profits to be a force for good in society. Philanthropy is not just an option; it’s a responsibility for companies to contribute to the well-being of the communities they operate in. ONERHT’s Specialised Group, a proud supporter of the Foundation’s charity golf event, continues to uphold its commitment to supporting meaningful causes for the community.”

Since its inception in 2015, the Foundation has raised closed to S$5 million with the support of its donors and sponsors for more than 30 charitable organisations.

ONERHT Foundation Ltd

A Singapore registered charity and grant-making philanthropic organisation, ONERHT Foundation Ltd (“Foundation”) enables RHTLaw Asia LLP and the RHT Group of Companies (collectively, “ONERHT”) to do right and do good through various charitable endeavours.

Set up by ONERHT in 2015, the Foundation was registered as a Singapore charity by the Commissioner of Charities and a grant-making philanthropic organisation by the Inland Revenue Authority of Singapore on 16 September 2016 and 28 November 2016 respectively.

The Foundation seeks to establish, inspire and encourage the right philanthropic culture among the corporate and legal fraternity of giving back to the community in a focused, hands-on and meaningful manner. Since its inception, the Foundation has raised closed to S$5 million to support more than 30 beneficiaries involved in education, the environment and sustainability, disadvantaged groups as well as the arts and sports. For more information, please visit www.onerht.foundation

ONERHT

ONERHT is an integrated multidisciplinary platform of professional and specialist services. Following the establishment of RHTLaw Asia in 2011, its founding team developed a second engine of growth through the RHT Group of Companies, an independent ecosystem of professional services, associated companies and networks, complementing RHTLaw Asia’s full service legal offerings.

The Specialised Group within ONERHT represents its investments into various business partnerships to develop cutting edge solutions for clients. These include specialist services and platforms across Web 3.0 Digital Economy, Wealth Advisory, Fund & Asset Management, Valuation & Advisory, Investor Relations and Events & Training.

For media enquiries, please contact: Elliot Siow / elliot.siow@rhtgoc.com / +65 8375 0417

ADACEN, Inc., Secures $335 Million in Private Funding

ALBUQUERQUE, NM, Oct 6, 2023 – (ACN Newswire) – ADACEN, Inc., a developer, integrator, and provider of energy-efficient high-performance compute, colocation, and on-premises data centers, is delivering tailored solutions for critical infrastructure sectors. Accelerated and secured by deep subject matter experts, machine learning (ML), and Artificial Intelligence (AI), ADACEN’s products and services comprise data management, predictive analytics, and cybersecurity solutions in seamless applications.

Further, ADACEN is demonstrating a niche ability to produce integrated data resilience, cybersecurity, colocation, and critical infrastructure applications at scale and has jumped to the forefront of high-performance compute (HPC), delivering solutions for industries ranging from federal and local government to university and commercial hyperscale data centers, to healthcare, to public utilities and generating stations to name a few. Underpinned by bespoke, organic nation-state quality cybersecurity capabilities developed by ADACEN SPEAR and best-in-breed cyber specialists, ADACEN is redefining what it means to defend critical infrastructure market segments at the edge.

Fueled by strategic partnerships and strong contract positions, ADACEN is squarely positioned for accelerated growth and expansion facilitated by a deep presence in the public and private sectors, domestically and globally. Notably, ADACEN has been awarded contracts with several national labs and exclusive distribution partnerships. As a result, ADACEN is anchored by investment-grade credit quality revenue streams spread across multiple market segments and is diversifying and strengthening its balance sheet, asset base, and portfolio of holdings, allowing ADACEN the latitude to move unconstrained within its target market as it seeks to deploy data-resilient critical infrastructure, and cyber security solutions enhanced by high performance compute, high-density storage, ML, and AI.

ADACEN’s CEO and Chairman of the Board, Lt. Gen. Jon Davis, says:

“I’m immensely proud to be on the ADACEN team. The data center industry has several challenges that must be addressed. They use too much power, they use too much space, and they use too much water for cooling. And most importantly, they are vulnerable to attack and disruption. ADACEN has solved those problems. For the last two years, we have proven the potential, reliability, and performance of our technology and security solutions. We’ve built an incredible team of thought leaders and doers with deep experience in critical infrastructure delivery, defense, intelligence, commercial delivery, data security, and finance. Our data center solutions are needed today – and we are positioned to deliver immediately. If the data center industry had a chance to have a “do-over,” they would adopt the ADACEN solution – immediately.”

Luca Taylor, ADACEN COO and President of ADACEN SPEAR, ADACEN’s cybersecurity division, comments:

“When I first saw ADACEN completely redefining the concept of a data center, I had one of those Matrix moments where time slowed with the realization there was no security paradigm for this approach. All the old security models were simply insufficient. We had to create something new, adaptable, and capable of protecting the workloads we’re enabling at the edge. As a former Computer Network Operator and Technical Director at the NSA, I know what sophisticated actors are capable of. Nation states and cybercriminal gangs alike have access to AI, and they know how to use it. We are prepared. I am so excited and honored to be a part of this incredible team and mission! We’re changing how our clients and partners contemplate computing, bringing capabilities to the edge they’ve never seen. Critical workloads and data will exist close to the business workstreams or mission sets they support. Complex chains of decisions will increasingly be made without human interaction. Security must be woven into the fabric of such disruptive, radical change. ADACEN and SPEAR are the disruptive change we so badly need, and the peace of mind is secure and protected by design. It is truly thrilling to operate beyond the bleeding edge.”

Tim Kosiba, Former Deputy Director NSA Georgia:

“In my years of service at the NSA – including leading Tailored Access Operations and as Deputy Director NSA Georgia – I saw firsthand the rate of change in technology allowing for high performance compute, the need to make best use of the power, space and cooling you had, and how the security of data centers, edge devices and data itself had to be thought out before you deployed new systems.” Tim Kosiba continues: “What I love about what ADACEN is doing. They brought in some of my old teammates to design a security system (SPEAR) that ensures holistic security is built in from the beginning. They quietly but professionally did years of test and evaluation on their technology, proved it all, and have won the ability to do business with our most demanding federal customers. Their tech is green, resilient, reliable, and highly effective in producing super compute capabilities at the edge – and they have the data to prove it. ADACEN is a total game changer when it comes to resilient, green, high-performance compute data center solutions – with security built in from the beginning vice a bolt-on afterthought.”

Richard McCrea, Senior Investment Advisor at Solvenz, had this to say:

“We are excited to support ADACEN in its development and delivery of next-generation data center, cybersecurity, and AI solutions. ADACEN bridges a unique union with the DOE, DOD, AHA, Public Utility Co-op organizations, and National Laboratories, to name a few. Mandated from the top down, ADACEN specialists are brought in to evaluate vulnerabilities in critical infrastructure and implement solutions that materially improve security and resilience, giving ADACEN a clear competitive edge that is irreplicable but wholly transportable across many market segments and industrial sectors.” Richard McCrea goes on to say, “As a direct investor and risk underwriter for the last twenty years, we have noticed many great companies run by brilliant and innovative individuals with great ideas who pave the way for transformative inventions and innovations, but the ability to establish and influence the maturation of the target market and deliver solutions and products at scale are the primary drivers of sustained growth and success.”

ABOUT ADACEN:

ADACEN was formed in 2019 to redefine what a data center is, democratize super-compute, edge compute, and extending and defending data center capabilities to individual users, entities (including small and large businesses), public utilities, hospitals, universities, research laboratories, US government, intelligence and law enforcement agencies, and allied military services. ADACEN develops and commercializes “Data Center Solutions,” defined as any combination of the physical facilities or dedicated space within a facility, “on-premises” at a customer’s facility or office, the supporting infrastructure, and systems used to house, power, cool, and utilize computer systems, data storage, associated components and to provide network operations, security operations, data protection, incident response, data recovery, and continuity of operations solutions for same. These include but are not limited to liquid immersion, hybrid immersion, and air-cooled heat management systems; compute and storage hardware and software; and any other cabling, wiring, power management, and interface necessary for operation, in addition to other services and activities as may be allowed under the Company’s foundational documents. For more information, visit https://www.ADACEN.com

ABOUT SOLVENZ:

The U.S.-based Solvenz Group of companies in was formed in 2008 with initiatives of de-risking investments in alternative asset classes in domestic and foreign territories. The Solvenz Group of companies, along with its regulated investment funds in Luxembourg, are postured for strong growth and are continually expanding its reach into other esoteric asset classes. Currently, Solvenz attributes its success and growth to ongoing rigorous analytical studies and effective de-risking solutions. For more information, visit https://www.SOLVENZ.com

THE STATEMENTS INCLUDED IN THIS NEWS RELEASE, CONCERNING PREDICTIONS OF ECONOMIC PERFORMANCE AND MANAGEMENT’S PLANS AND OBJECTIVES CONSTITUTE FORWARD-LOOKING STATEMENTS MADE, PURSUANT TO THE SAFE HARBOR PROVISIONS OF SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND SECTION 27A OF THE SECURITIES ACT OF 1934, AS AMENDED. THESE STATEMENTS INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FORWARD-LOOKING STATEMENTS. FACTORS WHICH COULD CAUSE OR CONTRIBUTE TO SUCH DIFFERENCES INCLUDE, BUT ARE NOT LIMITED TO, ECONOMIC DOWNTURNS AFFECTING THE OPERATIONS OF THE COMPANY OR ANY OF ITS BUSINESS OPERATIONS, THE IMPACT OF COMPETITION, THE SUCCESS OF PRODUCTS IN THE MARKETPLACE. THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE INVOLVE SUBJECTS ONLY AS OF THE DATE HEREOF AND THE COMPANY DISCLAIMS ANY INTENT OR OBLIGATION TO UPDATE THESE FORWARD-LOOKING STATEMENTS, EXCEPT AS REQUIRED BY LAW.

Contact Information

Rahdika Sud, VP, Customer Relations, rsud@adacen.com

Diamond Equity Research Initiates Coverage on QuantaSing Group Limited (NASDAQ: QSG)

NEW YORK, Oct 4, 2023 – (ACN Newswire) – Diamond Equity Research, a leading equity research firm with a focus on small capitalization public companies has initiated coverage of QuantaSing Group Limited (NASDAQ: QSG). The in-depth initiation report includes detailed information on the QuantaSing Group’s business model, services, industry, valuation, management, and risks.

The full research report is available here. Highlights from the report include:

Diversified Scalable Technology Platform Infrastructure Enabling Diversified Course Offerings – QuantaSing started its journey in July 2019 by launching its flagship online financial learning service, QiNiu. The company gained significant traction early on, making it the largest online financial literacy platform for adults in China. It then introduced enterprise-focused services in February 2020, followed by the launch of JiangZhen and QianChi as a part of the company’s other personal interest courses in August 2021 and June 2022, respectively. Building on its initial success in financial literacy and broadening the scope of its technology platform for adult learners, the company built “truly” diversified offerings, enabling it to scale, increase its revenue sources, and reduce its dependency on a single segment.
Robust KPIs, Signifying Effective Strategy Implementation – QuantaSing has laid out a multifaceted growth strategy that leverages its core strengths in technology and educational content. The strategy focuses on increasing learners’ engagement and retention by continually enriching course offerings based on proven customer demand along with quality human capital and expanding the user base by using data-driven marketing approaches. Additionally, the company invests heavily in building proprietary technology and data analytics to optimize learner experience and operational efficiency. These efforts are being reflected in the company’s operating metrics and financial numbers. The total registered users grew from 17.0 million as of June 2021 to 94.3 million as of June 2023, while the total paying learners saw a healthy increase from 0.8 million for 2021 to 1.1 million for 2022. Moreover, the company has also extended its successful business model to other platforms and diversified by providing enterprise services. The enterprise services revenue has registered robust growth from RMB 144.31 million in 2021 to RMB 340.9 million in 2023. Finally, the company is eyeing overseas expansion and considering strategic collaborations, potentially through investments or acquisitions, to expand its market share. Recently, the company announced the acquisition of Kelly’s Education, an online language education platform, and forayed into the live e-commerce sector to further drive long-term growth.
Leader in a Fragmented, Rapidly Growing Market – QuantaSing has secured a dominant role in China’s fragmented but rapidly expanding adult personal interest learning market. In a market characterized by the presence of many players, QuantaSing has held a leading position for two consecutive years. The adult personal interest learning market generated a revenue of RMB 153.5 billion in 2022 and is expected to grow at a CAGR of 14.1% from 2022 to 2027. While QuantaSing primarily focuses on the individual segments, there’s also burgeoning potential in the enterprise services segment, where businesses are increasingly investing in professional development programs for employees. QuantaSing’s growing brand recognition and customer loyalty allows it to leverage cross-selling and upselling opportunities, acting as a potential barrier to entry in a competitive market.
The Need for Lifelong and Adult Learning – The rapid economic and technological growth in China has spurred an increasing demand for lifelong and adult learning as an economic imperative. Driven by advancements in automation and digitization and an aging workforce, the need for continuous upskilling and reskilling has never been greater. This urgency is further amplified by the deeply ingrained Chinese perspective that sees education as a holistic, lifelong endeavor, a view supported by overwhelming public opinion in recent surveys. In a society that highly values education for personal growth, workplace competence, and staying abreast with current times, adult learning programs and personal development are essential for sustained career paths and the overall economic vitality of the nation.
Valuation – A blended discounted cash flow analysis and comparable company analysis approach, assuming a 13.0% discount rate, 1.5% terminal growth, and 1.95x EV/Sales multiple, yielded a valuation of $10.75 per share, contingent on successful execution by the company.

About QuantaSing Group Limited

QuantaSing Group Limited, founded in 2019 and based in Beijing, offers a variety of online courses for adult learners and enterprises services in China. Their educational brands include QiNiu, JiangZhen and, QianChi. For more information, visit https://ir.quantasing.com/

About Diamond Equity Research

Diamond Equity Research is a leading equity research and corporate access firm focused on small capitalization companies. Diamond Equity Research is an approved sell-side provider on major institutional investor platforms.

For more information, visit https://www.diamondequityresearch.com.

Disclosures:

Diamond Equity Research LLC is being compensated by QuantaSing Group Limited for producing research materials regarding QuantaSing Group Limited, and its securities, which is meant to subsidize the high cost of creating the report and monitoring the security, however, the views in the report reflect that of Diamond Equity Research. All payments are received upfront and are billed for an annual or semi-annual research engagement. As of 10/04/2023, the issuer had paid us $60,000 for our company sponsored research services for coverage in English and Mandarin, which commenced 08/09/2023 and is billed annually. Diamond Equity Research LLC may be compensated for non-research related services, including presenting at Diamond Equity Research investment conferences, press releases and other additional services. The non-research related service cost is dependent on the company, but usually do not exceed $5,000. The issuer has paid us for non-research related services as of 10/04/2023 consisting of $3,000 for presenting at virtual investor conference. Issuers are not required to engage us for these additional services. Additional fees may have accrued since then. Although Diamond Equity Research company sponsored reports are based on publicly available information and although no investment recommendations are made within our company sponsored research reports, given the small capitalization nature of the companies we cover we have adopted an internal trading procedure around the public companies by whom we are engaged, with investors able to find such policy on our website public disclosures page. This report and press release do not consider individual circumstances and does not take into consideration individual investor preferences. Statements within this report may constitute forward-looking statements, these statements involve many risk factors and general uncertainties around the business, industry, and macroeconomic environment. Investors need to be aware of the high degree of risk in small capitalization equities, including the complete loss of their investment. Investors can find various risk factors in the initiation report and in the respective financial filings for QuantaSing Group Limited.

Contact:

Diamond Equity Research, research@diamondequityresearch.com