Maxim: Society Pass (Nasdaq: SOPA) Raise Estimates on Expected Contributions from M&A, Positive on the South East Asia E-commerce Market

SINGAPORE, Aug 23, 2022 – (ACN Newswire) – Maxim Group LLC ("Maxim") issues Equity Research Report on Society Pass Inc. (Nasdaq: SOPA) ("SoPa").

Click Here (on Society Pass website) to view the full Maxim Equity Research Report. https://tinyurl.com/Maxim-SOPA

Summary Points:

– SOPA is in the early stages of building an online South East Asian company. Luxury store, Leflair, was the primary revenue contributor for 2Q22. Other businesses are food and beverage online support, online delivery companies Handycart and Pushkart (bought during 1Q22), and Mangan.ph (2Q22), as well as Gorilla Networks, a telecom MVNO (early June '22). SOPA is also starting a loyalty points offering. Maxim believes there should be significant cross-selling opportunities and organic growth in the future. Specifically, Maxim believes Thoughtful Media can market the Company's other brands and the food delivery and luxury brand businesses can be expanded geographically. Maxim has a positive view on the SEA market given faster-than-expected growth rates, increasing mobile and ecommerce penetration, younger populations, travel opening back up, and the opportunity to consolidate smaller companies.

– 2Q22 revenue of $445K increased significantly from $8K in the prior year quarter, but was below our estimate of $670K. Results were held back as most of its businesses were very early stage. Almost all the quarter's revenue came from the online ordering segment, which currently consists of the company's online luxury store, Leflair. The cost of online marketing limited the amount put to use. Hardware and Software segments are currently not being prioritized. 3Q22 adjusted EBITDA loss of ($4.4M) was wider than our estimate of ($3.3M) and a loss of ($0.1M) in the prior year quarter. The variance vs. our estimate is primarily due to 1-time costs related to capital raises, M&A, higher growth investments, and public company-related costs.

– Healthy cash. SOPA ended June 2022 with $28M in cash and no debt. Cash included the $25M, net from November 2021 IPO and $10.7M, net from a February 2022 capital raise. Maxim projects current cash levels to be sufficient to fund organic growth over the next two years.

– Maxim raises revenue projections and expect significant growth for the next two years. Maxim expects growth from spending on marketing, expansions, and launch of Loyalty Points in mid-2022 and factoring in contributions from all announced acquisitions.

– Maxim projects revenue to increase from $0.5M in 2021, to $12.9M in 2022 (unchanged), and $54M in 2023 ($38.2M prior). The increase is due to the significant expected contribution from acquisitions and organic growth. Maxim projects 2022 adjusted EBITDA loss to widen to ($13.9M) (($12.7M prior), from a loss of ($4.9M) in 2021. The higher loss is due to one time costs related to acquisitions and higher public company expenses. For 2023, Maxim projects the adjusted EBITDA loss narrows to ($2.2M) from ($4.7M) prior.
– Compelling valuation – Maxim believes SOPA is undervalued and trades at a discount to its peer group. SOPA trades at an EV/revenue multiple of 0.4x our 2023 revenues compared to a peer group EV/revenue multiple of 2.3x our 2023 revenues. Maxim's positive outlook is supported by the attractive SE Asian markets and opportunities to consolidate smaller companies. Management has announced plans to spin off Leflair Group and to have it listed on the Nasdaq by the end of 2022.

About Society Pass Inc

As a digitally-focused loyalty and data marketing ecosystem in Vietnam, Indonesia, Philippines, Singapore and Thailand and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, SoPa is an acquisition-focused e-commerce holding company operating 6 interconnected verticals (loyalty, lifestyle, F&B, telecoms, digital media, and travel), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

SoPa's business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The Society Pass loyalty platform drives customer acquisition and increases customer retention for merchants. Since its inception, SoPa has amassed over 3.3 million registered consumers and over 205,000 registered merchants/brands onto its platform. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

SoPa leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading Vietnam-based restaurant delivery service; Mangan, a leading local restaurant delivery service in Philippines; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Thoughtful Media Group, a Bangkok-based, a social commerce-focused, premium digital video multi-platform network, and NusaTrip, a leading Jakarta-based online travel agency in Indonesia and across SEA. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

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

Spartan Capital: Society Pass (Nasdaq: SOPA) 10Q Shows Early Progress for Four Verticals

SINGAPORE, Aug 22, 2022 – (ACN Newswire) – Spartan Capital Securities LLC ("Spartan Capital") issues Equity Research Report on Society Pass Inc. (Nasdaq: SOPA) ("SoPa").

Click Here (on Society Pass website) to view the full Spartan Capital Equity Research Report. https://tinyurl.com/SocietyPass

Summary Points:

– Vietnamese e-commerce luxury goods retailer Leflair generated 92% of revenue and has strongly rebounded since being purchased out of bankruptcy and relaunched last year. Leflair posted a minor gross loss and a $694k operating loss. We look for four major catalysts for Leflair for the remainder of 2022: first, the launch of a new app, second, re-entry into the Philippines market, entry into the Indonesian market and the 4Q holiday shopping season.

– The second largest contributor was online grocery and food delivery comprising 5% of revenue. This included both Pushkart, which offers supermarket delivery in the Philippines and Handycart which offers restaurant delivery in Hanoi, Vietnam. We suspect that Pushkart generated the bulk of this revenue. During 3Q, the company acquired Mangan, a restaurant delivery company in the Philippines, which should substantially increase segment revenue.

– The telecom segment is represented by Gorilla which was acquired in May. It generated $5.6k in data sales revenue, versus our estimate of zero, ahead of the relaunch of its app planned for late 3Q.

– Both telecom and merchant POS had modest positive gross income, while the other two did not, netting to effectively zero. The operating loss was $7.6 million, with the vast majority of this related to G&A. As revenue ramps, we expect each unit to first turn a positive gross margin, then cover operating expenses. As is normal for a growth company, we expect costs related to growth to keep operating income negative for at least the next year.

– Lastly, EBITDA came in at negative $4.4 million and the company ended June with $28 million in cash. Our model has the company generating $10 million more in EBITDA losses through the end of 2023 before turning positive in 2024, so cash appears more than adequate. The Q also provided details on recent acquisitions, which are being done with modest cash outlays — all seven closed acquisitions were done for about $1.2 million in cash, plus stock. So we see the opportunity for many more acquisitions as well with the cash on hand.

About Society Pass

As a digitally-focused loyalty and data marketing ecosystem in Vietnam, Indonesia, Philippines, Singapore and Thailand and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, SoPa is an acquisition-focused e-commerce holding company operating 6 interconnected verticals (loyalty, lifestyle, F&B, telecoms, digital media, and travel), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

SoPa's business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The Society Pass loyalty platform drives customer acquisition and increases customer retention for merchants. Since its inception, SoPa has amassed over 3.3 million registered consumers and over 205,000 registered merchants/brands onto its platform. It has invested 2+ years building proprietary IT architecture with cutting-edge components to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Leflair.com, Vietnam's leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in Philippines, Handycart.vn, a leading online restaurant delivery service based in Vietnam, Mangan, the leading local restaurant delivery service in Philippines, Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator, Thoughtful Media Group, a Bangkok-based, a social commerce-focused, premium digital video multi-platform network, and NusaTrip ("NusaTrip"), a leading Jakarta-based Online Travel Agency ("OTA") in Indonesia and across SEA. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

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

Led by Legend Capital, Multi-omics-leading Enterprise APTBIO Closes Series B with Hundreds of Millions of CNY

HONG KONG, Aug 19, 2022 – (ACN Newswire) – Shanghai Applied Protein Technology Co., Ltd. ("APTBIO"), a leading enterprise focused on mass spectrometry-based multi-omics applied to precision medicine, recently announced the completion of its Series B with hundreds of millions of CNY, which is led by Legend Capital. The proceeds from this round of financing will be used to accelerate the product R&D, market expansion, and data-driven precision medicine development and help APTBIO continue to develop in mass spectrometry multi-omics applications, innovative drug development, and preclinical research, making a forward-looking layout for the construction of precision medicine services driven by big data and AI.

Founded in July 2004, APTBIO is one of the earliest biotechnology companies engaged in proteomics technical services and biopharmaceutical research and analysis services in China and participated in establishing China's biological mass spectrometry applications from scratch. With headquarter in Shanghai, APTBIO has a nationwide sales network and it has built innovative technology centers, data centers, and clinical testing centers in Shanghai, Yiwu, and Taizhou, with a total area of more than 20,000 square meters. Centering on the construction of the life and health industry chain, APTBIO has established four major technology platforms through technical cooperation and its innovation capabilities: a large-scale multi-omics platform, biopharmaceutical preclinical research and small-scale production platform, mass spectrometry clinical detection and companion diagnostic platform, and an AI and big data platform. By laying out the three business segments of technology services, biomedical CRO services, and mass spectrometry clinical testing services, APTBIO has built a business map around multi-omics and big data to provide a precise platform for the perfect transformation from basic research to clinical application.

Ms. CHEN Wei, the founder of APTBIO, said: "I would like to take this opportunity to extend my sincere gratitude to our investors. This round of capital input fully validates the rapid development and future potential of APTBIO in mass spectrometry multi-omics-based precision medicine and pre-clinical CRO for drug R&D. With the completion of the new round of financing, we will further promote the local and global market layout, innovative biomedical business interaction, and data-driven precision medicine capacity, to contribute to the human health industry."

Hank ZHOU, the co-chief investment officer of Legend Capital, said: "APTBIO is a leading enterprise in multi-omics R&D services in China, covering a wide range of areas such as technology services, biomedical R&D, precision medicine, and it provides integrated services for the transformation from basic research to clinical application. APTBIO has laid out cutting-edge technologies in various fields in advance, such as proteomics and metabolomics, and its high-quality R&D technical team has achieved breakthroughs in multiple research fields. We are honored to participate in the future development of APTBIO and are willing to work together with the company to establish APTBIO as a leader in the multi-omics R&D industry."

About Legend Capital

Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies through solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital).

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

Legend Capital Portfolio: China-leading CRO Enterprise R&G Pharmastudies Listed on the ChiNext Market Successfully

HONG KONG, Aug 15, 2022 – (ACN Newswire) – On August 2, 2022, R&G Pharmastudies Co., Ltd. (stock code: 301333.SZ), a China-leading CRO enterprise invested by Legend Capital, was successfully listed on the ChiNext of Shenzhen Stock Exchange. R&G Pharmastudies publicly issued 15,000,000 shares at a price of RMB78.88 per share, and the total amount of funds raised is expected to be RMB1.18 billion.

R&G PharmaStudies is a large-scale professional clinical trial outsourcing service supplier in China. It has established a complete set of pharmaceutical R&D outsourcing service systems covering the whole chain of clinical trials. R&G PharmaStudies provides integrated services throughout the entire process of clinical trials with its comprehensive drug R&D service system; the main services offered by the company cover clinical trial operation services, clinical trial site management services, biological sample testing services, data management, and statistical analysis services, clinical trial consulting services, clinical pharmacology services, etc. R&G PharmaStudies is committed to providing high-quality and efficient clinical research services in line with international standards. With a broad and high-quality customer base, it has provided professional services for about 750 Chinese and foreign pharmaceutical companies.

Legend Capital invested in the Series A round of R&G PharmaStudies in the second half of 2017 and has kept on supporting the development of R&G PharmaStudies. Jafar Wang, the Co-Chief Investment Officer of Legend Capital, said, "Congratulations on the successful listing of R&G PharmaStudies! R&G PharmaStudies is a veteran of China's pharmaceutical clinical CRO industry and has long provided full-chain clinical CRO services for Chinese and foreign innovative pharmaceutical enterprises. The successful listing will be the starting point of the new long run of R&G PharmaStudies; with its global vision, well-known expert team, and high-quality service system, we are optimistic about the long-term development potential of R&G PharmaStudies, and look forward to the continuous growth of the company."

Legend Capital has a systematic layout in CRO/CDMO. In addition to R&G PharmaStudies, Legend Capital has invested in plenty of other new-drug R&D CRO/CDMO companies, such as WuXi Apptec, WuXi Biologics, Pharmaron, Bellen, ClinChoice, SAFE Pharmaceutical, dMed Biopharmaceutical, XiHua Scientific, BirdoTech, Intellective Biologics, Biortus, and Simoon Record.

About Legend Capital

Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies through solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital).

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

Society Pass backed Thoughtful Media Group Announces New CEO and Vision to be the Leader in Digital and Social Commerce in SEA

BANGKOK, Aug 10, 2022 – (ACN Newswire) – Society Pass Inc (Nasdaq: SOPA) recently announced the acquisition of Thoughtful Media Group ("Thoughtful Media" or "TMG"), a social commerce-focused, premium digital video MPN headquartered in Thailand with an operating presence in the US, Vietnam, and Philippines. The acquisition of Thoughtful Media marks SoPa's first foray into Thailand and adds to SoPa's growing ecosystem of technology-enabled companies located in the SEA countries of Vietnam, Philippines, Singapore and Thailand.

Along with this latest acquisition, Bien Kiat Tan has been appointed as the CEO of TMG, along with Jittra Cheng as TMG Thailand Country Director and Quynh Vo as TMG Vietnam General Manager. The three executives will drive Thoughtful Media forward in its next stage of growth.

TMG is a leader in digital and social commerce across Southeast Asia region. Thoughtful Media recorded revenues of US$5.8 million in 2021. Since its founding, Thoughtful Media's data-rich MPN has uploaded over 675,000 videos with over 80 billion video views. The current network of 263 YouTube channels has onboarded over 85 million subscribers with an average monthly viewership of over 600 million views.

Dennis Nguyen, Society Pass Founder, Chairman and Chief Executive Officer, said, "Thoughtful Media's social commerce-focused business model perfectly complements our future growth strategy for Society Pass as we drive consumer eyeballs and generate revenues for riveting consumer brands throughout SEA. I am proud to appoint Bien Kiat Tan as the CEO of TMG, along with Jittra Cheng as TMG Thailand Country Director and Quynh Vo as TMG Vietnam General Manager, and look forward to their expert leadership in steering our operations to greater heights. As we grow our presence across SEA, we are confident that the SoPa ecosystem will nurture and accelerate the growing portfolio of brands."

Originally founded in 2010, Thoughtful Media today creates and distributes digital advertising campaigns across its MPN in both SEA and the US. With its intimate knowledge of local markets, digital marketing technology tools and social commerce business focus, advertisers leverage Thoughtful Media's wide influencer network throughout SEA to market and sell advertising inventory exclusively with specific placement and effect. As a result, Thoughtful Media's content creator partners earn a larger share of advertising revenues from international consumer brands. And according to Accenture, the social commerce market is poised to grow to US$1.2 trillion by 2025 at a CAGR of 26%.

Bien Kiat Tan, CEO of TMG, shares his enthusiasm saying, "Partnering with Society Pass allows Thoughtful Media to unlock strategic opportunities with influencers and advertisers as well as design cross-marketing synergies for companies in the SoPa ecosystem. Powered by these synergies, we are confident in driving tremendous revenue growth in 2022 and beyond. Focusing on the new influencer market trends, TMG is nurturing its content creators to develop Short Videos and build presence in the Social Commerce space, which is booming in Vietnam, Thailand, Philippines, Singapore and Indonesia. TMG is creating synergies by leveraging its creators and creative talent to serve the sister platforms in the SOPA ecosystem as well as its Brands and millions of consumer base."

Welcoming the renewed foray, TMG Thailand Country Director, Jittra Cheng said, "Given the immense potential of the Thai market, I look forward to lead TMG to be the leader in digital and social commerce across SEA, backed by SoPa's unique modus operandi, and take my team along in this successful journey. With an amplified focus on content creators, TMG is building additional support including infrastructure like new studios for its influencers and creators to host live streaming, and educating creators on content across multiple platforms. TMG assists its creators in effective monetisation through social commerce and earning commissions while working with brands."

TMG looks at doubling its current team size of 17 to over 30 people in the next couple of years, powered by the growing ubiquity of social media influencers on shaping purchase decisions and driving increasingly greater numbers of brands to shift advertising budgets to this dynamic outlet. Thoughtful Media's digital advertising tools and expertise bolsters Society Points, SoPa's paradigm shifting loyalty platform. SoPa's product offering uniquely positions Thoughtful Media as a leading SEA retail marketing and advertising hub for international and regional consumer brands.

About Society Pass

As a loyalty and data marketing ecosystem in Singapore, Vietnam, Philippines, and Thailand and with offices located in Singapore, Hanoi, Ho Chi Minh City, Manila, Angeles and Bangkok, SoPa is an acquisition-focused e-commerce holding company operating 7 interconnected verticals (loyalty, merchant software, lifestyle, F&B, telecoms, digital media, and travel), which seamlessly connects millions of consumers and thousands of merchants across multiple product and service categories throughout SEA.

SoPa's business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The Society Pass loyalty platform drives customer acquisition and retention for merchants. Since its inception, SoPa has amassed over 2.1 million registered consumers and over 6,700 registered merchants/brands onto its platform. It has invested 2+ years building proprietary IT architecture with cutting edge components to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in Southeast Asia. SoPa operates #HOTTAB Biz and #HOTTAB POS – a Vietnam-based POS, CRM and analytics technology solutions provider for small and medium-sized enterprises, Leflair.com, Vietnam's leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in Philippines, Handycart.vn, a leading online restaurant delivery service based in Vietnam, Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator, Thoughtful Media Group, a Bangkok-based, a social commerce-focused, premium digital video multi-platform network, and Mangan, the leading local restaurant delivery service in Philippines. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

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

Legend Capital Super Antibiotic Portfolio Company: Scarce Enterprise MicuRx Pharmaceuticals is Listed on the STAR Market Successfully

HONG KONG, Aug 9, 2022 – (ACN Newswire) – On August 5, 2022, Legend Capital portfolio company MicuRx Pharmaceuticals, a scarce enterprise in super antibiotic, was successfully listed on the STAR Market. MicuRx Pharmaceuticals issued 130,000,000 shares this time, accounting for 19.84% of the total share capital after the issuance. The total amount of funds raised is expected to be about RMB 960 million at the issue price of 8.16 yuan per share.

MicuRx Pharmaceuticals is an innovative drug company focusing on novel therapeutics for infectious diseases. With global independent intellectual property and competitiveness, MicuRx Pharmaceuticals is committed to the discovery, development, and commercialization of innovative drugs for unmet medical needs. The main products from MicuRx Pharmaceuticals include Contezolid, MRX-4, and MRX-8. Since the company's establishment, MicuRx Pharmaceuticals has adhered to the principle of "Better therapy through superior medicine", focusing on the increasingly severe problem of bacterial resistance worldwide. With the core competitiveness of solving clinical problems and differentiated innovation, MicuRx Pharmaceuticals aims to provide more effective and safer therapeutic options for patients suffering from the most common and severe drug-resistant bacterial infections. MicuRx Pharmaceuticals has an international core R&D team and has established R&D centers in China and the US. The company's R&D team has rich experience in international innovative drug development and management, and it has led or participated in developing a number of marketed anti-infective new drugs.

Legend Capital invested in MicuRx Pharmaceuticals in 2020 and has long supported the company's development. "Congratulations to MicuRx Pharmaceuticals. The successful listing represents the recognition of MicuRx Pharmaceuticals' innovative R&D in the field of multi-drug-resistant bacterial infection and its globally competitive innovative drug. Legend Capital and the MicuRx team have established a deep friendship, and Legend Capital is honored to participate in the MicuRx business led by Dr. Zhengyu YUAN, the founder of MicuRx Pharmaceuticals. Dr. YUAN is a very tenacious and spiritual entrepreneur who dares to take risks, filling the Chinese market gap in the scarce field of multi-drug-resistant bacterial infection. With the consolidation of the company's leading edge and position, Dr. YUAN has not only built an international team and an innovative global enterprise but also made positive contributions to the development of human health." Said Legend Capital.

Legend Capital has long paid close attention to investment in significant themes in the field of life sciences. In addition to MicuRx Pharmaceutical, Legend Capital has also made investments in plenty of other outstanding companies, many of which were listed on A-shares and H-shares, such as Pharmaron (300759.SZ) (03759.HK), Kingmed Diagnostics (603882.SH), Wuxi Apptec (603259.SH) (02359.HK), WuXi Biologics (02269.HK), Recbio (02179.HK), Innovent Biologics (01801.HK), Berry Genomics (000710.SZ), Harbour BioMed (02142.HK), New Horizon Health (06606.HK), and Chemclin Diagnostics (688468.SH).

About Legend Capital

Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies through solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital).

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

New Power to Legend Capital Carbon Neutral Investment Portfolio: Ruicycle Raises Over RMB 300 Million from Series B

HONG KONG, Aug 8, 2022 – (ACN Newswire) – Shenzhen Ruicycle Environmental Protection Technology Co., Ltd (also known as Hengchuang Ruineng), a battery recycling company, recently accomplished the B round of fundraising with over RMB 300 million, which is backed by Legend Capital. This round of fundraising will be mainly used to improve the development of the echelon utilized product series, the construction of new energy retired lithium battery recycling capacity, and the expansion of new lithium battery wet recycling technology.

Founded in 2017, Ruicycle is a national high-tech enterprise dedicated to "Making New Energy a Truly Green Energy", deeply engaging in the field of recycling and comprehensive utilization of retired power batteries. It is committed to pursuing the concept of green and low-carbon development. Directing at the end of the new energy industry, Ruicycle has built an industrial ecological closed loop of large-scale automatic safe crushing, zero-pollution treatment, and high-efficiency recycling of lithium batteries based on the core technologies of lithium battery echelon utilization, material regeneration, and new material regeneration. Meanwhile, centering on the national carbon peaking and carbon neutrality policies, Ruicycle has achieved the traceability of carbon footprint and the quantification of carbon reduction, continuously making contributions to low-carbon development for the new energy industrial chain.

In 2020, Ruicycle was granted the qualifications of "Echelon Utilization White List" and "Recycling Utilization White List", becoming the fully licensed enterprise in the lithium battery recycling industry. Ruicycles revenue exceeded RMB 1 billion with a CAGR of over 100% in 2021. Now it has been recognized as the first echelon enterprise in China's power battery recycling and comprehensive utilization industry.

Ruicycle is the world-first company devoting intelligent management of temperature-sensing cameras to the retired battery storage field. It has established industrial bases for echelon utilization and recycling in Huizhou, Jiangmen, and Ganzhou, respectively, achieving a recycling capacity of 150,000 tons per year of retired power batteries. At the same time, Ruicycle has also been cooperating with Legend Capital's portfolio company Milkyway, a leading dangerous chemicals logistics enterprise, to build a global leading ESG recycling system.

CHEN Zhipeng, the founder of Ruicycle, said: "We are a relatively young team. In keeping with the trend of the new energy era, we are eager to learn more from industry predecessors to root in the physical manufacturing industry more deeply. At the same time, we look forward to having more aspiring youngsters join us to create an efficient organization and together make contributions to the globalization of new energy industrialization experience.

Legend Capital's investments in the carbon-neutral field focus on energy decarbonization, vehicle electrification/intelligence, synthetic biology, etc. Energy decarbonization includes photovoltaic, wind power, and smart grid; vehicle electrification/intelligence includes lithium battery vehicles, hydrogen fuel cell vehicles, battery recycling and others.

Legend Capital has long been optimistic about investment opportunities in the new energy vehicle industry chain and has invested in a number of automation equipment, lithium batteries, and materials companies, many of which went public successfully, such as Wuxi Lead Intelligent Equipment (300450.SZ), CNGR Advanced Material (300919.SZ), Shanghai Putailai New Energy Technology (603659.SH), Shenzhen Hymson Laser Intelligent Equipments (688559.SH), Shenzhen Colibri Technologies (002957.SZ). At the same time, Legend Capital is also one of the early investors of CATL (300750.SZ).

About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital ( https://www.linkedin.com/company/legend-capital ).

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

OctaFX celebrates 11 years in the financial markets

KUALA LUMPUR, Aug 3, 2022 – (ACN Newswire) – OctaFX is celebrating its 11th anniversary! Here's what the broker achieved over the years and the core elements of the brand philosophy that helped it along the way. The global broker OctaFX is bigger than ever before – all thanks to the support of its clients. Below are the main achievements OctaFX has managed to accomplish over the past eleven years.

Those above are the numbers. But what is behind them? OctaFX shares the core elements of its philosophy and how they help the broker make the investment journeys of its clients as smooth as possible.

OctaFX is always online. The broker has already processed 8.8 million requests and dedicated approximately 96,800,000 minutes to resolving issues and answering the questions of its clients honestly and openly.

OctaFX is always looking for ways to improve, and therefore analyses all feedback carefully. Identifying the problems traders face when using its services or functionality they wish the broker had is what guides OctaFX's development. Apart from other significant changes, it managed to decrease the average verification process to around three minutes, with 85% of clients passing it on the first time.

Constant change in the financial world is what keeps OctaFX agile and ready to transform and develop at all times. This approach resulted in releasing its own mobile trading and copytrading apps, adding a variety of popular financial instruments ranging from cryptocurrencies to stock indices, and developing a copytrading platform with unique features for finding and copying professional traders.

Data is what OctaFX is driven by. The broker is constantly conducting research and analysis of itself, learning about the latest financial technologies – all to make sure it provides the clients not only with the best trading conditions, but also with the cutting edge technical solutions.

OctaFX is focused on the goals of its clients, and that is why it tries to eliminate all the obstacles limiting their trading experience and keeping them from realising the full potential of their diverse approaches. To help its clients boost their trading and allow for a more effective use of long-term strategies, the broker decided to remove swaps entirely this May.

To become yet closer to its clients, OctaFX decided to rebrand and adopt a fresh new look: with refined colours, space-inspired elements, and a new logo.

"All our achievements and transformations would be meaningless without our clients. It is our clients who drive our growth and allow us to always move forward. It is our clients who inspire us to be current, dynamic, innovative, confident. We thank all of them for choosing us as their broker," the OctaFX press office commented.

To mark its eleventh anniversary, OctaFX has made its usually below-the-market spreads the lowest in the industry on the MT4 and MT5 platforms. The broker has reduced the spreads by 20% on XAUUSD, EURUSD, GBPUSD, USDJPY, GBPJPY, USDCHF, XTIUSD, and US30, as well as by 25% on BTCUSD and ETHUSD.

About OctaFX

OctaFX is a global broker providing online trading services worldwide since 2011. It offers everything one needs to reach their investment goals, providing top-notch conditions utilised already by clients from over 150 countries worldwide. The company is involved in a comprehensive network of charity and humanitarian initiatives, including improvement of educational infrastructure, short-notice relief projects, supporting local communities and small to medium enterprises. On a side note, OctaFX has also won more than 45 awards since its foundation, including the 2021 'Best Forex Broker Asia' award from Global Banking & Finance Review and 2021 'Best ECN Broker' award by World Finance. www.octafx.com

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

Led by Legend Capital, The Leading Intelligent Special Robot Company AKA Robotics Completes Series A Financing

HONG KONG, Jul 28, 2022 – (ACN Newswire) – Shenzhen AKA Robotics Technology Co., LTD. (hereinafter referred to as "AKA Robotics"), a leading intelligent special robot company, recently completed its Series A financing round, which was led by Legend Capital. This round of funds will be used to invest in R&D and accelerate its market expansion of the special robotic series products and its overseas market layout, with the mission of "cleaning the world, safe operation".

AKA Robotics was established in 2017 and has grown into an enterprise that provides intelligent special robots and comprehensive green solutions for rust removal, cleaning, spraying, polishing, and the inspection of large steel-structure facades. Its robot products have been widely used in ships, petrochemicals, wind power, and other industries.

The founding team of AKA Robotics was formed by experts in the field of robotics, coming from Shenzhen Institute of Advanced Technology, Chinese Academy of Sciences. The founder of AKA Robotics is a key technical talent of the Chinese Academy of Sciences, the chief scientist of key R&D projects of the Ministry of Science and Technology, a doctoral supervisor, and a professor-level senior engineer with profound experience in technology R&D and operation management. AKA Robotics has obtained nearly 100 patents and software copyrights in the fields of core technologies, including wall-climbing robots, intelligent control algorithms, controllers, ultrahigh pressure water jet technology, and machine vision.

Raymond CHEN, Co-Chief Investment Officer of Legend Capital, said: " Legend Capital continues to pay attention to the investment opportunities in the field of robots. At present, the application of special robots in ships, petrochemicals, wind power, and other industries is facing an inflection point. With the ability to reduce manual work in harsh environments, the robots will play a greater role in industrial production and social life with broad market space. The AKA Robotics team is modest and pragmatic and has been concentrating on polishing products for many years. AKA Robotics has taken the lead in forming large-scale applications in ships and is a leading enterprise in special robots. Legend Capital is very honored to lead this round of financing, and we look forward to AKA Robotics making more breakthroughs in technology, products, and commercialization in the future. At the same time, Legend Capital will continue to support AKA Robotics in growing into a global and platform-based special robot company by providing more proactive value-added services."

About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service, and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies through solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital ( https://www.linkedin.com/company/legend-capital ).

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

Spartan Capital: Society Pass (Nasdaq: SOPA) – Southeast Asia eCommerce Super-App With Billion Dollar Potential

SINGAPORE, Jul 27, 2022 – (ACN Newswire) – Spartan Capital Securities LLC ("Spartan Capital") issues Equity Research Report on Society Pass Inc. (Nasdaq: SOPA) ("SoPa").

Click Here https://bit.ly/3Bmg3l4 (on Society Pass website) or Here https://bit.ly/3vfGzc2 (with Spartan Capital Securities account) to view the full Spartan Capital Equity Research Report.

Summary Points:

– Society Pass aspires to be the next major Southeast Asia ("SEA") super-app. Comparable success stories such as Lazada, GoTo and Grab have all been accorded multi-billion valuations.

– Spartan Capital forecasts SoPa to generate $7.2 million in revenue in 2022, $29.3 million in 2024, up 308% and $59.8 million in 2024, up 104%. Spartan Capital forecasts EBITDA loss narrowing from $10 million in 2022 to just $5.6 million in 2024, then turning positive in 2025.

– Spartan Capital likens SoPa to what Masayoshi Son has done with SoftBank, headquartered out of Japan, although with an exclusive focus on e-commerce and SEA.

– SoPa operates in five SEA countries (Singapore, Vietnam, Indonesia, Philippines, and Thailand), all are vibrant open economies, recovering from Covid lockdowns and now seeing dynamic growth. SEA consumers are younger and more tech-savvy than counterparts in the US.

– SoPa owns 8 portfolio companies in food/beverage (F&B), luxury goods, telecoms, digital media, travel and merchant software sectors and ties them together with its Society Points loyalty program. The eight business units are:
— Leflair – a Vietnam luxury goods flash sale e-commerce company akin to Groupon.
— NusaTrip – an Indonesia travel website company serving the region akin to Expedia.
— Thoughtful Media Group – a Bangkok-based social commerce firm serving US and Asian brands.
— Gorilla Networks – a Singapore blockchain-enabled MVNO serving the mobile/travel markets.
— Mangan – Philippines largest local restaurant food delivery company akin to GrubHub/DoorDash.
— Handycart – a Hanoi, Vietnam restaurant delivery company poised to enter Saigon.
— Pushkart – a Philippines supermarket delivery company akin to Instacart.
— #HOTTAB – a Vietnam restaurant and hotel terminal/back-end software management platform.

– Society Points and SoPa's 8 subsidiaries offer multiple ways for consumers to earn loyalty points and to redeem such loyalty points for things of value.

– Operating under a matrix management structure, SoPa is led by entrepreneurial Founder, Chairman and CEO, Dennis Nguyen, and a strong team of C-suite executives, business unit CEOs and country managers.

– Over half of SoPa's executives are female.

About Society Pass

As a loyalty and data marketing ecosystem in Singapore, Vietnam, Philippines, and Thailand and with offices located in Singapore, Hanoi, Ho Chi Minh City, Manila, Angeles and Bangkok, SoPa is an acquisition-focused e-commerce holding company operating 7 interconnected verticals (loyalty, merchant software, lifestyle, F&B, telecoms, digital media, and travel), which seamlessly connects millions of consumers and thousands of merchants across multiple product and service categories throughout SEA.

SoPa's business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The Society Pass loyalty platform drives customer acquisition and retention for merchants. Since its inception, SoPa has amassed over 2.1 million registered consumers and over 6,700 registered merchants/brands onto its platform. It has invested 2+ years building proprietary IT architecture with cutting edge components to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in Southeast Asia. SoPa operates #HOTTAB Biz and #HOTTAB POS – a Vietnam-based POS, CRM and analytics technology solutions provider for small and medium-sized enterprises, Leflair.com, Vietnam's leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in Philippines, Handycart.vn, a leading online restaurant delivery service based in Vietnam, Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator, Thoughtful Media Group, a Bangkok-based, a social commerce-focused, premium digital video multi-platform network, and Mangan, a leading local restaurant food delivery company in Philippines. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

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