HONG KONG, Dec 13, 2024 - (ACN Newswire via SeaPRwire.com) - On the evening of 10 December, Fosun Tourism Group (FTG) announced on the Hong Kong Stock Exchange its plan to repurchase shares at a price of HK$7.8 per share. This price represents a 111% premium over the closing price of the day before the last trading day. This privatization will raise FTG’s market value to HK$10.5 billion, and the announcement swiftly captured widespread attention.The market generally perceives this move as part of Fosun’s strategy to focus on its core businesses and consolidate resources to support its core industries with established advantages. In June, Fosun Pharma announced its plan to privatize its biopharmaceutical subsidiary, Shanghai Henlius, through a merger.Within a year, with two key subsidiaries announced for privatization, what strategy is Fosun pursuing? Analysts suggest that “These two subsidiaries are high-quality assets of Fosun, and their privatization reflects Fosun’s commitment to strengthening its focus on core businesses with established advantages. This move also indicates that Fosun has ample cash flow, enabling it to pursue sustainable growth and make flexible adjustments.”Recently, Fosun has been active in its core sectors, such as tourism and pharmaceuticals. The company recently co-organized a biopharmaceutical innovation forum and signed agreements with several high-profile institutions. It also shipped its independently-developed drug, HANQUYOU, to the U.S. and expanded Club Med into the Greater Bay Area. These actions demonstrate Fosun’s intention to focus on its core businesses, building momentum for high-quality growth.Focusing on asset-light operations to create long-term value through a “retreat to advance” strategy in the tourism sectorSince the trading halt of FTG on 27 November, speculation about its privatization has circulated widely in the market. The announcement on 10 December confirmed FTG’s privatization, with investors noting that the privatization is a win-win choice.According to public information, FTG has been a core subsidiary within Fosun’s Happiness business segment since its establishment. In the first half of 2024, it reported a business volume of RMB10.65 billion, with an adjusted EBITDA of RMB2.09 billion and a profit attributable to equity holders of the company of RMB320 million, reflecting a 20% increase compared to the same period in 2023, excluding the one-off gain on disposal of resorts.In recent years, FTG has faced challenges due to global macroeconomic environment, trends in the tourism industry, and the overall performance of the Hong Kong stock market. Since its listing, the company’s share price has not reflected its true value, and trading volumes have been low, limiting its financing capacity. The advantages of being a listed company have not been fully realized, while maintaining its listing status has incurred additional costs. Completing the privatization will not only resolve liquidity issues but also enhance strategic flexibility and focus on long-term sustainable development.As a flagship brand of FTG, Club Med has recently achieved a new breakthrough. On 29 November, Shenzhen, CITIC, and Fosun signed a cooperation framework agreement to launch Club Med at Jinsha Bay in Dapeng New District, a key area for tourism development in Shenzhen. This collaboration is viewed in the tourism industry as a powerful alliance, combining high-quality resources.Club Med Joyview, the product line set to debut in Jinsha Bay, is designed specifically for the Chinese market, focusing on urban short-distance vacations. It has already seen success in locations such as Qiandao Lake in Zhejiang and Heilongtan in Sichuan. Dapeng New District holds high hopes for the project, believing that the establishment of a Club Med resort in Jinsha Bay will “fill a gap in high-end family resorts in Shenzhen and enhance the international profile and tourism appeal of both Shenzhen and Dapeng New District.”Analysts noted that Fosun is increasingly strengthening its asset-light strategy in the tourism sector. By leveraging strong intellectual properties and operational capabilities, Fosun has been accelerating partnerships with local governments and state-owned enterprises to seize promising projects. In addition to launching Club Med in Jinsha Bay, the recent signing of the second phase of the Taicang Alps Resort and the launch of the ULTRAMED Hainan are also prime examples of this asset-light approach.“At first glance, Fosun’s move towards privatization may seem like a ‘retreat’. However, the clear strategic direction and the steady advancement of asset-light projects indicate that the company is actually ‘retreating to advance’. In an uncertain market cycle, this approach maximizes strategic flexibility, allowing a focus on long-term goals and sustainable development.”Strengthening the pharmaceutical sector and embracing integrated innovation with a global perspectiveIn addition to the tourism sector, pharmaceuticals continue to be a key pillar of Fosun’s business profile, with the company making significant strides in this area recently.On 2-3 December, Fosun co-organized the first “Greater Bay Area (GBA) Star” Biopharmaceutical Original Innovation Forum in Shenzhen. Just two weeks prior, it co-organized another forum themed on “Original Innovation” in Shanghai.By co-organizing two high-profile industry forums within a month, Fosun has demonstrated its leadership and influence in the biopharmaceutical field. Fosun also signed strategic cooperation agreements with Fudan University, Shanghai University, the Shanghai Institute of Materia Medica, Chinese Academy of Sciences, and Ruijin Hospital, among others, to jointly promote original innovation.Guo Guangchang, Chairman of Fosun International, said at the forum, “Good innovation must start from demand. In the biopharmaceutical sector, this means putting ‘patients first’. Additionally, innovation should maintain a ‘global perspective’, always embracing an open mindset and adhering to a win-win cooperation.”While driving innovation in the industry, Fosun has also made important breakthroughs in broaden its global market reach. On 29 November, the first batch of HANQUYOU, a trastuzumab biosimilar independently developed and manufactured by Shanghai Henlius, was shipped to the U.S.HANQUYOU is the first China-developed monoclonal antibody biosimilar approved in China, the EU, and the U.S. To date, it has been approved in 50 countries and regions, benefiting over 220,000 HER2-positive breast and gastric cancer patients globally. According to Shanghai Henlius, approximately 6.5 million units of HANQUYOU have been shipped globally since its commercialization in 2020. In 2023 alone, HANQUYOU contributed over RMB2.7 billion in sales revenue.Industry expert believes that successfully entering the U.S. market will significantly enhance the growth trajectory of HANQUYOU and lay a solid foundation for the overseas expansion of Shanghai Henlius’ products. “The reasoning is simple: by breaking into the toughest market, the company gains confidence when approaching other countries and regions.”After more than a decade of development, Shanghai Henlius has built a diversified and robust product pipeline encompassing over 50 molecules, covering areas such as oncology, autoimmune diseases, and ophthalmology. Currently, 6 products have been approved for marketing in China, 3 have been approved for marketing in overseas markets, and 24 indications have received approval, and 4 applications have been accepted by the National Medical Products Administration (NMPA), the U.S. Food and Drug Administration (FDA), and the European Medicines Agency (EMA) in the EU. In addition to HANQUYOU, products such as HANSIZHUANG, HANLIKANG, HANDAYUAN, and HANBEITAI maintain leading positions in their respective markets.Notably, in June, Fosun Pharma announced its plans to privatize its subsidiary, Shanghai Henlius, through a merger. The proposed purchase price is HK$24.6 per share, representing a premium of 36.67% over the closing price on the Hong Kong Stock Exchange on the undisturbed date, and a premium of 52.04% over the average closing price based on the daily closing prices of H Shares as quoted on the Hong Kong Stock Exchange for the 30 trading days immediately prior to and including the undisturbed date. The total cash consideration shall not exceed HK$5.407 billion. Following this announcement, Fosun Pharma’s share price surged significantly.The industry generally views this privatization as a way for Shanghai Henlius to implement its long-term strategy more flexibly, which will help avoid the pressures of market expectations and stock price volatility associated with being publicly listed. This move also allows for a fresh start, enabling the company to explore new development opportunities through asset restructuring and industry adjustments. Once privatized, Shanghai Henlius’ core capabilities and long-term value will be further realized, thereby enhancing Fosun’s competitive edge in the pharmaceutical sector.Strong financial position and ample cash flow recognized by domestic and international institutionsFrom a financial perspective, Fosun’s recent series of strategic moves reflects its solid financial standing and ample cash flow, enabling it to pursue various strategies, including privatization.As of 30 June 2024, the company’s cash, bank balances and term deposits reached RMB109.55 billion, representing an increase of approximately RMB17.1 billion since the end of 2023.Recently, S&P and securities firms such as CITIC, have released reports highly recognizing Fosun’s focus on its core businesses in the household consumption sector, its optimization of asset structure, and its successful U.S. dollar note issuance to broaden its funding channels. Several securities firms have assigned Fosun a “Buy” rating.S&P believes Fosun has adequate liquidity buffer to meet its debt maturities obligation over the next two years and expects Fosun to continue divesting its non-core assets, leading to a steady decline in its debt. Furthermore, as offshore subsidiaries reach maturity, Fosun International’s dividend receipts are expected to enhance significantly. Therefore, S&P maintained a “stable” rating outlook on Fosun International.CITIC Securities noted that since 2020, Fosun has focused on developing strategically core businesses with market leadership while optimizing its asset structure and financial position through the divestment of non-strategy and non-core assets. As the company deepens its global operations, enhances business synergies, and improves its technological innovation capabilities, it is poised to unlock long-term growth potential.Analysts expressed that with strong financial backing, Fosun is continuously enhancing its competitiveness by focusing on its core sectors and exploring new growth opportunities, thereby further releasing its long-term value. Copyright 2024 ACN Newswire via SeaPRwire.com.
MUMBAI, INDIA, Dec 13, 2024 - (ACN Newswire via SeaPRwire.com) - SRKay Consulting Group announces the release of its highly anticipated whitepaper, “Strategic Insights for Establishing a GCC in India: A C-Suite Perspective.” This comprehensive report provides global corporations with actionable strategies to harness India’s unparalleled advantages, including cost efficiency, an innovation-driven workforce, and a supportive regulatory ecosystem.With over 1,700 GCCs employing 1.66 million professionals, India is a global hub for innovation and operational excellence. The whitepaper explores the factors behind India’s rapid growth as the premier destination for GCCs, offering businesses a roadmap to long-term success.Key Highlights from the Whitepaper1. Strategic Advantages:- Up to 70% savings on IT talent acquisition costs compared to developed markets.- Regulatory frameworks like 100% FDI and simplified compliance make India an ideal investment choice.2. Technological Innovation:- Investments in AI, machine learning, and RPA are driving India’s GCCs toward global leadership in digital transformation.- Adoption of emerging technologies like Digital Twins and generative AI is reshaping industries.3. Diverse GCC Models:- Captive, vendor-managed, and co-sourced models allow businesses to align GCCs with their unique operational goals.4. Case Studies:- Walmart: Leveraging AI in Bengaluru for enhanced supply chain management and customer experience.- AWS: Driving India’s digital transformation through multi-billion-dollar investments in Hyderabad.- Goldman Sachs: Balancing financial innovation with community development initiatives.5. Future Trends:- By 2030, India’s GCC workforce is projected to grow to 4.5 million, underlining its importance as a global business hub.- Increased focus on R&D, innovation, and sector diversification to drive sustained growth.Expert Insights"India’s GCC ecosystem has evolved from a cost-driven model to a value-centric hub for global innovation and transformation. Our whitepaper offers a step-by-step guide for organizations seeking to establish, scale, and innovate in India." — Karunjit Kumar Dhir, CEO, SRKay Consulting GroupWhy Download the Whitepaper?- Discover the top strategic locations in India for GCCs, including Bengaluru, Hyderabad, and Pune.- Learn about state-specific incentives and policies that enable seamless market entry.- Explore real-world case studies that showcase how leading companies are leveraging India’s resources for global impact.Download the Whitepaper and take the first step toward building a GCC that drives innovation and operational excellence.About SRKay Consulting GroupOperating across eight countries, SRKay Consulting Group specializes in establishing efficient GCCs and offshore entities. With a focus on innovation, regulatory expertise, and operational precision, SRKay empowers businesses to unlock global opportunities and achieve sustainable growth.Contact Information:Komaldeep KaurEmail: Komal@mianext.com Explore More: www.srkay.com Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Dec 12, 2024 - (ACN Newswire via SeaPRwire.com) - Huatai Securities recently held its first Financial Technology Summit in Hong Kong, themed "Innovation with Technology, Shaping the Future of Finance". The summit brought together experts from government, academia, and industry to discuss AI trends in finance. Key speakers included Zhou Yi, CEO of Huatai Securities, Guo Yike, Provost of Hong Kong University of Science and Technology, and Tan Dai, President and Head of Volcano Engine, Bytedance.In his keynote speech, Zhou Yi stated: "Through technology, Huatai Securities continues to grow, building a strong tech infrastructure while expanding both its financial service offerings and customer base. In the AI era, we're committed to fostering an open ecosystem, supporting FinTech through capital and resources, while bridging global technology partnerships to drive industry transformation through innovation."Discussing generative AI's impact on financial services, Tan Dai highlighted three key trends: "First, broader scope - moving from internal efficiency improvements to enhanced client experience and service assistance. Second, greater depth - progressing from interactive experience innovation to business transformation, with AI enabling new human-machine collaboration models. Third, increased speed – streamlined AI resource management and intelligent agent development platforms now enable business teams to develop innovative applications as easily as building with blocks."At the summit, Huatai launched the Huatai Star CEO Global Accelerator Program, which targets founders of promising early-stage technology companies and aspiring entrepreneurs, pledging to offer comprehensive entrepreneurship training and investment-financing services through Huatai Securities' full-service platform. The company is strategically embracing the generative AI trend, forming ecosystem partnerships that leverage its financial expertise.At the summit, Huatai Securities presented its HUATECH Exhibition, showcasing cutting-edge solutions in cross-border financial services, AI-powered financial innovation, and ecosystem-building, drawing strong interest from attendees who explored and tested the platforms firsthand. On the exhibition, Huatai unveiled its independently developed Global Trading Platform, which offers comprehensive trading services with microsecond-level transaction speeds.During the roundtable sessions, tech startups from various segments shared their experiences and strategies in product innovation and global expansion. Infrastructure technology companies discussed the impact of large language models on enterprise IT architecture, focusing on key factors such as data and computing resources in the AI era.The summit underscored the Company's technological capabilities and global perspective. The company looks forward to participating in international competition with an open and diverse mindset while gathering international perspectives and advanced experiences to jointly build a diverse and innovative FinTech ecosystem.About Huatai SecuritiesIncorporated in April 1991, Huatai Securities is a leading technology-driven securities group in China, with a highly collaborative business model, a cutting-edge digital platform and an extensive and engaging customer base. It provides comprehensive financial services to individual and institutional clients, including wealth management, investment banking, sales and trading, investment management, etc., with a substantial international presence.For enquiries, please contact:Citigate Dewe RogersonBenny Liu Tel: +86 10 6567 5056 Linda Pui Tel: +852 3103 0118Email: HTSC@citigatedewerogerson.com Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Dec 12, 2024 - (ACN Newswire via SeaPRwire.com) - Hong Kong’s exports will grow by 4% in 2025, according to new figures released today by Hong Kong Trade Development Council (HKTDC) Research. The forecast, which forms part of the HKTDC’s annual Export Outlook, will see Hong Kong’s export levels continue on the upward trajectory maintained throughout 2024.In the last quarter every year, HKTDC Research announces an export forecast for the upcoming year, based on a basket of factors including global, regional and local economic performance.Strong demand in electronics, ASEAN and MainlandAccording to the Export Outlook 2025, electronics enjoyed a 13.5% year-on-year uptick in the first 10 months of the year. Over the coming 12 months, many of the factors that underpinned the sector’s success in 2024 will remain very much in play. Most notably, demand is expected to stay consistently strong among the global business community for AI-enabled systems.Irina Fan, Director of HKTDC Research, said: “Hong Kong’s rise in export levels in 2025 is likely to be continuously led by the electronics sector. At the same time, consumer sales are expected to be bolstered by the launch of a new generation of AI-integrated smartphones, PCs and other digital devices.”Potential US tariffs loomAlthough the underlying trend remains positive, the 2025 Export Outlook also highlighted a number of potential challenges that may impact Hong Kong’s export activity over the 12 months to come.These concerns stem from the well-publicised commitment on the part of President-Elect Donald Trump to impose massive tariff hikes on goods imported to the US from multiple sources, including Mexico, Canada and Mainland China. If this happens, it is widely expected that global trade flows will be adversely affected, while the process of trade diversion will be inevitably accelerated. In any such scenario, Hong Kong could reasonably expect its own export activity to be impacted.In addition to the general assumption among Hong Kong exporters that any knock-on consequences may only be minimal, however, there are also signs that Mainland China’s overall level of trade has not been unduly constricted by previous tariff arrangements. Indeed, even though two-thirds of Mainland Chinese exports to the US have been subject to tariffs since 2018, Mainland China’s global export share has actually risen from 12.7% six years ago to 14.1% in 2023. There is also some belief that President-Elect Trump’s proposed tariff regime actually represents more of an opening bid in a likely round of negotiations than an absolute certainty.Nevertheless, the threat of tariff rises, coupled with concern over growing geopolitical uncertainties elsewhere in the world, both played a part in the more cautious sentiments expressed by Hong Kong exporters as part of the 4Q24 HKTDC Export Confidence Index.This saw a fall in both the Current Performance Index (from 52.6 in 3Q24 to 50.3 in 4Q24) and the Expectation Index (from 51.4 to 50.0).Nicholas Fu, Senior Economist, said: “Exporters are particularly confident of their future prospects with regard to the ASEAN bloc and Mainland China with the respective Market Expectation Sub-Index readings well above 50 -- ASEAN (55.9) and Mainland China (52.7).”Contrasting fortunes for first and second half in 2025One clear indication from the overall level of caution recorded for 4Q24 is that exporters may try to hedge their bets in 2025 by accelerating their shipping schedules to mitigate the possible consequences of additional tariffs later in the year. The likely upshot of this is that activity will be far more intense in the first half of 2025, before decelerating sharply in the latter half.Irina Fan said: “While 2025 may be a year of two halves, characterised by differing levels of activity, we still see overall export growth as likely to be 4% after factoring in the concerns expressed by traders across a range of global economic uncertainties.”ReferencesHong Kong’s Export Outlook 2025: A Year of Two Halves https://research.hktdc.com/en/article/MTg2OTc1MzE0MAHKTDC Export Index 4Q24: Heightened Uncertainties Trigger Exporter Caution https://research.hktdc.com/en/article/MTg2OTc0OTM0MAHKTDC Research website: https://research.hktdc.com/en/Photo download: https://bit.ly/49ACrGDHKTDC Director of Research Irina Fan (left) and Senior Economist Nicholas Fu (right) announced Hong Kong’s Export Outlook 2025 and the HKTDC Export Confidence Index for the fourth quarter of 2024 at a press conference todayHKTDC Director of Research Irina FanHKTDC Senior Economist Nicholas FuMedia enquiriesPlease contact the HKTDC’s Communication and Public Affairs Department:Jane CheungTel: (852) 2584 4137Email: jane.mh.cheung@hktdc.orgAbout HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Dec 12, 2024 - (ACN Newswire via SeaPRwire.com) - The Payment Cards Group Limited (“PCG”), a cloud-native payment processor and acquirer, and Black Bear Merchant Services Limited (the holding company of BBMSL Limited “BBMSL”) are pleased to announce the signing of a strategic alliance to establish a new brand and group holding company, ABBY Pay&Tech Holdings Limited ("AbbyPay"). Under this new strategic alliance, AbbyPay will leverage PCG's market leading position as an acquirer with principal memberships in all major card schemes including Visa, MasterCard, AMEX, UnionPay, and JCB. The combined group will also leverage strong digital payment technology capabilities from PCG’s A3A, Asia’s first cloud-based payment processing and settlement platform, in servicing BBMSL's strong customer base. This strategic alliance will accelerate PCG’s expansion in market share by covering 50,000 local merchants in Hong Kong and other Asia Pacific regions with multiple brands to meet diverse market demands and empower local merchants through innovative payment technology.From left to right: Mr. Barry Mak, representative of AbbyPay, Mr. Peter Wu, Founder of PCG, Mr. Gerald Yu, Chief Executive Officer of BBMSL, Ms. EsterChow, Chief Financial Officer of BBMSL, and Ms. Beatrice Tai, Co-Founder and Chief Operating Officer of PCG, jointly officiated the signing ceremony.Beatrice Tai, Co-Founder and Chief Operating Officer of PCG, said, "This strategic alliance marks an important milestone for PCG in the field of payment solutions in the Asia-Pacific region. With the technological advantages of our A3A platform, combined with BBMSL's stong market coverage, AbbyPay will provide innovative, seamless payment and settlement solutions for micro merchants, SMEs, and enterprises, rapidly and efficiently tapping into new markets across various industries in the Asia-Pacific region. We look forward to AbbyPay expanding its business footprint and further consolidating the local payment industry, strengthening PCG's leading market position in the payment sector.”Gerald Yu, Chief Executive Officer of BBMSL, said, "This strategic alliance represents PCG's high recognition of BBMSL's years of effort and achievements in the Hong Kong market, reflecting our potential and confidence in working together. Since 2017, BBMSL has held a significant market share in the local SME merchant market and has gained widespread recognition and support in Hong Kong. These advantages will lay a solid foundation for AbbyPay’s development. I look forward to working with AbbyPay to fulfill BBMSL's mission, grow alongside SMEs, and hope this partnership creates even greater achievements."Introducing Asia's first cloud-based payment processing and settlement platform, A3A, in the Asia-Pacific Region to unleash the potential of digital paymentsAbbyPay will offer Asia's first cloud-based payment processing and settlement platform, A3A, across markets in Japan, Singapore, Malaysia, and Thailand. Through a single API, A3A offers direct end-to-end processing with major card schemes (such as Visa, MasterCard, AMEX, JCB, and UnionPay), e-wallet networks, and mobile payment platforms. Comparing to traditional payment processing platforms, A3A boasts competitive advantages such as low integration fee, speedy and easy integration, instant settlement, and real-time transaction data insights.Mr. Barry Mak, representative of AbbyPay, shared AbbyPay's vision.Barry Mak, representative of AbbyPay, said, "We have entered a new era of payment in the Asia Pacific market. AbbyPay is groundbreaking in Hong Kong's payment industry and will disrupt the entire sector, bringing unprecedented opportunities. PCG has strong technological capabilities, while BBMSL has a solid customer base and market recognition in the local market. I firmly believe that AbbyPay has unlimited potential in Hong Kong and the Asia-Pacific region, leading future payment trends while serving and creating value for all types of merchants, from large chain restaurants to SMEs and micro merchants."About Payment Cards Group (“PCG")Payment Cards Group (“PCG”) is an innovative and leading payment technology company with operations in Singapore, Hong Kong and the Asia-Pacific region. Established in 2016, PCG has become an acquirer with principal memberships in all major card schemes and e-wallet networks. Its subsidiary, Yedpay, has firmly established itself as a payment acceptance business in Hong Kong. Meanwhile, A3A, another member of PCG, has developed a cloud-native payment processing platform that operates through RESTful APIs, significantly reducing costs and streamlining complex processes while providing users with real-time transaction data and insights. As an acquiring processor, PCG serves as the backbone infrastructure of the entire payment industry by its Asia’s 1st cloud-based processing and settlement platform. Rooted in Hong Kong with a global vison, PCG seeks to empower merchants with cutting-edge payment technology solutions and drive high-quality development in the global payment ecosystem. For more information, please visit PCG’s website: https://www.yedpay.com/en/For media enquiries, please contact:AJA (IR and Communications)Avy YuEmail: avy.yu@ajacapital.com.hkTel: (852) 9500 4443Eudice LawEmail: eudice.law@ajacapital.com.hkTel: (852) 9326 1113 Copyright 2024 ACN Newswire via SeaPRwire.com.
TEWKSBURY, MA, Dec 12, 2024 - (ACN Newswire via SeaPRwire.com) - Cambridge Isotope Laboratories, Inc. (CIL) has successfully developed and implemented a game-changing benzene-d6 recovery program, addressing major pain points for manufacturers of organic light-emitting diode (OLED) displays. This innovative service reduces costs, minimizes environmental impact, and conserves scarce deuterium supplies.OLED display producers rely heavily on deuterated benzene (benzene-d6) as a critical starting material in their synthesis processes. However, this results in significant quantities of depleted benzene-d6, which is no longer usable but still retains considerable deuterium value. The disposal of such depleted material poses environmental challenges and substantial expenses.CIL's benzene-recovery program offers a transformative solution. Customers can now return their depleted benzene-d6 to CIL, where it undergoes a proprietary re-enrichment process to restore it to virgin material quality. This service is available at a significant cost savings compared to new benzene-d6, providing significant economic benefits.Beyond the financial advantages, the program has far-reaching environmental and supply implications. It eliminates the need for costly disposal, reduces the demand on increasingly scarce deuterium (derived from heavy water, D2O) and conserves this vital resource for its growing applications in science, medical diagnostics, pharmaceuticals, and semiconductor production.Recycling offers several sustainable benefits. It reduces pollution by releasing fewer chemicals into the environment. Recycling also saves energy, as reprocessing chemicals like benzene requires less energy than producing them from raw materials. This leads to lower greenhouse gas emissions, helping to combat climate change."This initiative underscores CIL's commitment to collaboration and innovation in addressing our customers' most pressing challenges," said Cliff Caldwell, CEO of CIL. "By recovering and re-enriching depleted benzene-d6, we create a circular economy approach that is both economically and environmentally sustainable. As the world's largest supplier of benzene-d6, we are uniquely positioned to deliver this groundbreaking service."CIL's benzene recovery program is the result of 12 months of dedicated development, expansion, and rigorous testing to ensure reliable capacity and uncompromising quality. CIL invites interested parties to inquire about the program's details and how to participate.About Cambridge Isotope Laboratories, Inc.CIL is the world's largest manufacturer and global supplier of stable isotopes and stable isotope-labeled compounds used in research, environmental, pharmaceutical, medical diagnostic, OLED, and industrial markets. CIL subsidiary ABX, located in Dresden, Germany, is active in the development and commercialization of radio isotopic-labeled compounds for the diagnosis and treatment of cancers. CIL is an operating business owned by Otsuka Pharmaceutical. The CIL business consists of two facilities in the Boston, MA, area; a large isotope-enrichment production plant in Xenia, OH; CIL China; CIL Canada; ABX in Dresden, Germany; and Eurisotop in Saclay, France. For more information on CIL, visit isotope.com.Contact InformationCrissy Kriskocrissyk@isotope.com1.978.269.1930SOURCE: Cambridge Isotope Laboratories, Inc. Copyright 2024 ACN Newswire via SeaPRwire.com.
Xeleb debuts misscharm.io with Miss Charm 2024 on 21 December in Ho Chi Minh, marking the first-ever use of blockchain in a beauty pageant.Contestant-issued MEME coins allow fans to directly support their favorite beauty queens, with a portion of proceeds benefiting charitable causesXeleb plans a Token Generation Event (TGE) in Q1 2025, with listings already secured on global top 5 crypto exchanges.Miss Charm’s contestantsHO CHI MINH CITY, VIETNAM, Dec 13, 2024 - (ACN Newswire via SeaPRwire.com) - Xeleb, an online voting and judging platform for global talent contests has launched through an exclusive partnership with Miss Charm, an international beauty pageant. From global beauty pageants to song and model contests, Xeleb leverages decentralization and digital assets to reward fan participation and amplify audience interaction.Xeleb has launched with a mission to increase and monetize fan and viewer engagement for these contests. The global audience for talent contests is enormous, as evidenced by the 243 million total engagements for the 2024 Miss Universe live broadcast on Telemundo(1), and the 163 million viewers of the 2024 Eurovision Song Contest(2). Xeleb taps into this unparalleled engagement potential by creating an ecosystem where fans can vote, judge, and earn rewards through a decentralized platform powered by blockchain technology.This year’s edition of the Miss Charm global finals will be held in Ho Chi Minh City, Vietnam on December 21, featuring contestants from 38 countries.Xeleb has developed misscharm.io as the official digital hub for Miss Charm fans. Fans can access two innovative features:Telegram Game Powered by TON: Fans can cast votes and judge contestants, earning rewards in return.Miss Charm MEME Coins: Fans can purchase unique MEME coins issued by contestants, allowing direct support for their favorite beauty queens. A portion of any gains from these coins will benefit charities chosen by the respective contestants.The Miss Charm advisory team includes key players from global franchises such as Miss World, Miss Universe, Elite Models, and Ford Models. They are joined by experts in regulated global crypto platforms and token listing strategies on major exchanges. CEO Paul Vinciano, former owner of Elite Models Vietnam and Miss Vietnam, and his team also operate one of Vietnam’s leading crypto technology development firms.Paul Vinciano, CEO of Xeleb said “Xeleb is set to revolutionize fan and audience engagement in global talent contests through our blockchain-powered, tokenized voting and judging platform. By integrating decentralization and digital assets, we are creating an ecosystem that not only enhances interactivity but also empowers fans to play an active role in the success of their favorite contestants.”Xeleb’s launch is backed by strategic seed investment from tech investor Calvin Cheng, a former Singapore Parliamentarian, and current Honorary Consul of Serbia in Singapore. Calvin was also Head of Elite Models Asia and owned the franchise for Ford Supermodel of the World Singapore, Malaysia and China. He is also currently Chairman & Founder at Paymonade, one of the largest European digital asset on-off ramps, which counts Binance as a major client. He is also the founder of AEUR, one of the world’s largest listed Euro-backed stable coins.In conjunction with this launch, Xeleb is excited to announce the completion of a major funding round led by HashKey Capital. Other prominent investors include Amber Group, MEXC Ventures, Foresight Ventures, and Mirana Ventures. Notably, MEXC Ventures is the investment arm of MEXC Crypto Exchange, Foresight Ventures represents the investment division of Bitget, and Mirana Ventures serves as the investment arm of Bybit.“The team combines both world-class track records in entertainment as well as digital assets. I am honored to invest in Xeleb alongside crypto investment titans like HashKey, Amber, Mirana, Foresight and MEXC,” said Calvin Cheng.Looking ahead, Xeleb plans a Token Generation Event (TGE) in Q1 2025, with listings already secured on global top 5 crypto exchanges.(1) https://tinyurl.com/y94pk5ht (2) https://tinyurl.com/yrn2u8r2 About XelebXeleb (xeleb.io) is a cutting-edge online voting and judging platform designed to revolutionize global talent contests by leveraging blockchain technology. Launched in partnership with Miss Charm on misscharm.io, Xeleb empowers fans to engage more deeply in their favorite contests while earning rewards.Xeleb is backed by an experienced team of industry experts, including veterans from global beauty franchises and regulated crypto platforms. Strategic investments from industry leaders such as HashKey Capital, Amber Group, and Calvin Cheng have further solidified Xeleb's position as a trailblazer in the intersection of entertainment and blockchain.About Miss CharmMiss Charm 2024 is a global-scale beauty pageant, which aims to search for the most exceptional female representatives from different countries all around the world, to appreciate their beauty as well as their cultures and educational backgrounds. The judging criteria for the pageant will involve beauty, physique, intellect as well as the ability to captivate the audience with the appeal.For media inquiries and interview requests, please contact:Lee Ke Wei (Financial PR)(T) 6438-2990(E) kewei@financialpr.com.sg Copyright 2024 ACN Newswire via SeaPRwire.com.
REED SOCIETE GENERALE GROUP INVESTS €10 MILLION IN LOOP VIA A CONVERTIBLE PREFERRED SECURITY AT A $4.75 CONVERSION PRICE.LOOP COMPLETES ITS INAUGURAL SALE OF AN INFINITE LOOP™ TECHNOLOGY LICENSE, GENERATING AN UPFRONT PAYMENT OF €10 MILLION.FORMATION OF A EUROPEAN PARTNERSHIP TO DEPLOY INFINITE LOOP™ MANUFACTURING TECHNOLOGY.PROCEEDS TO SUPPORT CONSTRUCTION OF THE INFINITE LOOP™ FACILITY IN INDIA AND FINANCE LOOP'S OPERATIONAL CASH REQUIREMENTS.LOOP MANAGEMENT TO HOLD UPDATE CALL AT 8:45 AM ET on December 13, 2024MONTREAL, QUEBEC, Dec 13, 2024 - (ACN Newswire via SeaPRwire.com) - Loop Industries, Inc. (Nasdaq:LOOP) (the "Company," "Loop," "we," "us," or "our"), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate ("PET") plastic and textile-to-textile ("T2T") polyester fiber, has secured €10 million through a convertible preferred security financing with Reed Societe Generale Group, a European investment firm majority-owned by the bank Societe Generale. Additionally, as part of the Reed Societe Generale Group transaction, Loop has finalized the sale of its first Infinite Loop™ technology license, generating an initial €10 million payment, with additional milestone-based payments from Reed Societe Generale Group to follow.The Reed Societe Generale Group transaction marks a pivotal step in Loop's commercialization strategy, enabling the deployment of its patented recycling technology across Europe and supporting capital investment in cost-effective manufacturing regions, including its joint venture in India with strategic partner Ester Industries Ltd. Proceeds from the financing and licensing deal will fund the Indian project and Loop's operational cash flow needs.Key terms of the €10 million convertible preferred security include:13% PIK dividend rate5-year termConvertible to Loop common stock at $4.75 per share or redeemable in cashThe technology license will be granted to a European partnership owned 90% by Reed Societe Generale Group and 10% by Loop, which is being formed to develop Infinite Loop™ manufacturing facilities in Europe. Loop retains the right to increase its equity stake in the European manufacturing facility, as well as potential future facilities, to a maximum of 50% for each facility. The license is to build one Infinite Loop™ manufacturing facility in Europe. Future facilities under this partnership will require the purchase of additional technology licenses from Loop.The license sale underscores the commercial readiness of Loop's technology, validated by four years of successful operations at its Terrebonne facility, which supplies bottle-grade PET resin for consumer packaging and T2T polyester fiber to advance circular fashion for apparel brands. Loop is committed to expanding the reach of its proven solution to the plastic waste global issue by partnering with well-financed, reliable customers through technology licenses and engineering services. This strategy allows Loop to address global demand in regions where it does not plan to build facilities, driving further growth and value creation while focusing Loop's internal resources and capital on direct equity investments.With regulatory approval for Societe Generale's acquisition of a 75% stake in Reed Societe Generale Group finalized, it is positioned to deploy capital into this and other projects. The previous condition precedent to closing relating to government funding is no longer applicable, although Loop expects that such additional financing will be available when the Indian project is approved to begin construction. Funding for both the financing and the initial payment for the technology license is expected within seven business days following the incorporation of the European partnership company.Julien Touati, CEO of Reed Societe Generale Group, commented: "Reducing dependency on virgin plastics is a global challenge. We are proud to support the rollout of Loop's technology in Europe by becoming the majority shareholder of this European partnership. This strategic investment allows us to leverage Loop's unique expertise and strong relationships with world-class brands committed to decarbonizing their supply chains. It fits perfectly with our ambition to actively contribute to the industrialization of Europe's circular economy, significantly reduce pollution, and foster sustainable growth.""The sale of our first technology license is a transformative milestone, proving the scalability and market readiness of our Infinite Loop™ technology," said Daniel Solomita, CEO and Founder of Loop Industries. "Our financing agreement and partnership with Reed Societe Generale Group propels us into a new phase of growth - expanding into Europe with strategic precision while advancing our flagship Infinite Loop™ project in India. These strategic steps align with our long-term investment vision and underscore our commitment to innovation, scalability, and delivering exceptional value for our shareholders. I look forward to working closely with Julien and his team at Reed Societe Generale Group in leading the circular economy in plastic packaging and circular fashion in Europe."Corporate Update CallSenior Management of Loop will host a corporate update call, followed by a question-and-answer session, which can be accessed via the dial-in numbers below.Date: Friday, December 13, 2024Time: 8:45 am Eastern TimeParticipant joining details (by Telephone):United States (Local): +1 404 975 4839United States (Toll-Free): +1 833 470 1428Access Code: 625641ORRegistration Link: https://www.netroadshow.com/events/login?show=2e808989&confId=75536- Avoid wait time - Bypass speaking with an operator to join the call- Receive a Calendar Invitation with call access details including your unique PINAbout Loop IndustriesLoop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop™ branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop™ PET plastic and polyester fiber can be recycled infinitely without degradation of quality, successfully closing the plastic loop. Loop Industries is contributing to the global movement towards a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.Common shares of the Company are listed on the NASDAQ Global Market under the symbol "LOOP."For more information, please visit www.loopindustries.com. Follow Loop on Twitter: @loopindustries, Instagram: loopindustries, Facebook: Loop Industries and LinkedIn: Loop IndustriesForward-Looking StatementsThis news release contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "should," "could," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or "continue," the negative of such terms or similar words. These forward-looking statements include, without limitation, statements about Loop's market opportunity, its growth strategies, plans and timelines for completing the €10 million convertible preferred stock financing and technology license sale, plans for use of expected proceeds, ability to improve and expand its capabilities and seek additional financing, and plans for future growth and future operations including expansion in Europe and advancing the joint venture in India. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond Loop's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with among other things: (i) our ability to commercialize our technology and products, (ii) the status of our relationships with our partners, (iii) development and protection of our intellectual property and products, (iv) industry competition, (v) our need for and ability to obtain additional funding relative to our current and future financial commitments, (vi) our ability to continue as a going concern, (vii) engineering, contracting, and building our manufacturing facilities, (viii) our ability to scale, manufacture, and sell our products in order to generate revenues, (ix) our proposed business model and our ability to execute it, (x) our ability to obtain the necessary approvals or satisfy any closing conditions in respect of any of our proposed partnerships, (xi) our joint venture projects and our ability to recover certain expenditures in connection them, (xii) adverse effects on the Company's business and operations as a result of increased regulatory, media, or financial reporting scrutiny, practices, rumors, or otherwise, (xiii) public health issues, such as disease epidemics, which may lead to reduced access to capital markets, supply chain disruptions, and government-imposed business closures, (xiv) war, regional tensions, and economic or other conflicts that could impact market stability and our business; (xv) the effect of the continuing worldwide macroeconomic uncertainty and its impacts, including inflation, market volatility and fluctuations in foreign currency exchange and interest rates, (xvi) the outcome of any Securities and Exchange Commission ("SEC") investigations or class action litigation filed against us, (xvii) our ability to hire and/or retain qualified employees and consultants, (xviii) other events or circumstances over which we have little or no control, and (xix) other factors discussed in Loop's Annual Report on Form 10-K for the fiscal year ended February 29, 2024 filed with the SEC and in Loop's subsequent filings with the SEC. More detailed information about Loop and the risk factors that may affect the realization of forward-looking statements is set forth in Loop's filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. Loop assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, unless otherwise required by law.For More Information:Investor Relations:Kevin C. O'Dowd, Investor RelationsLoop Industries, Inc.+1 617-755-4602kodowd@loopindustries.comMedia Inquiries:Andrea Kostiuk, VP Marketing & CommunicationsLoop Industries, Inc.+1 (450) 951-8555akostiuk@loopindustries.comSOURCE: Loop Industries Copyright 2024 ACN Newswire via SeaPRwire.com.
IRVINE, CA, Dec 13, 2024 - (ACN Newswire via SeaPRwire.com) - Accurate Background, the world's largest independent provider of compliant background checks and monitoring solutions, announced it has strengthened its global leadership team with the appointment of Mark Thompson, Managing Director, Australia and Asia Pacific region (APAC). In support of Accurate's vision to make every hire the start of a success story, Mark will lead Accurate's growth teams in the region. Mark's experience in building high-performance teams, driving enterprise sales and client retention, and leveraging data-driven strategies aligns with Accurate's goals to rapidly expand in the APAC region. Reporting to Dan Shoemaker, Chief Revenue Officer, Mark will spearhead the development and execution of sales strategies to drive market share, client growth, and regional innovation."I am thrilled to welcome Mark to the Accurate team and am confident he will make an immediate impact on our growth in the region," said Dan Shoemaker. "Mark brings extensive experience not only growing businesses but also delivering a high standard of customer experience that is a hallmark of Accurate throughout the world."Mark joins Accurate with over two decades of strategic sales and marketing leadership in B2B markets. With a proven track record in revenue growth, team leadership, and market expansion, Mark successfully led sales and marketing initiatives across industries including background screening, financial services, and data solutions."I'm honored to join Accurate Background at such an exciting time in the region. Employment screening plays a vital role in building trust and ensuring workplace integrity, and I look forward to collaborating with our talented team to deliver exceptional service and innovative solutions to our clients," said Mark Thompson. "With Accurate's strong global foundation, I believe we are uniquely positioned to expand our impact and support government and businesses across the region in navigating an evolving employment landscape."Accurate's recent launch of Accel, a next-generation platform that is 100% Australia-hosted, marks a significant milestone in our commitment to providing market-leading capabilities for local organizations.About Accurate BackgroundOur vision is to make every hire the start of a success story. As a trusted provider of employment background screening and workforce monitoring services, Accurate Background gives companies of all sizes the confidence to make smarter, unbiased hiring decisions at the speed of demand.Experience a new standard of support with a dedicated team, comprehensive technology and insight, and the most extensive coverage and search options to advance your business while keeping your brand and people safe. To learn more, visit accurate.com.Media ContactMedia@Accurate.comSOURCE: Accurate Background LLC Copyright 2024 ACN Newswire via SeaPRwire.com.
TORONTO, ON, Dec 11, 2024 - (ACN Newswire via SeaPRwire.com) - Volatus Aerospace Inc. (TSXV:FLT)(OTCQX:TAKOF)(FSE:ABBA) is pleased to announce the integration of key assets and capabilities from Air Data Systems (ADS), based in the United Kingdom, marking a strategic expansion of its global aerial solutions ecosystem. This collaborative arrangement strengthens Volatus' position as a leader in aerial intelligence and logistics by opening doors to new opportunities and partnerships in critical industries.ADS specializes in streamlining large-scale and complex surveys and data acquisition projects for industrial applications such as asset management, inspection services, oil & gas, utilities, and environmental services.The transaction, structured with a success-fee model tied to future contract outcomes, aligns the interests of both organizations and highlights the significant potential of this collaboration. As part of this agreement, Volatus has acquired the ADS brand, website, and domain, along with a robust £5 million sales opportunity pipeline.To further enhance this partnership, Mark Currass, former Managing Director of ADS, has joined Volatus Aerospace as Executive Consultant, Global Business Development. With decades of expertise in the UAS sector and a proven track record of delivering results, Mark will spearhead growth initiatives and leverage the combined capabilities of Volatus and ADS to unlock new markets and drive innovation."The integration of Air Data Systems into the Volatus ecosystem represents a powerful joining of forces," said Glen Lynch, CEO of Volatus Aerospace. "Mark's leadership and expertise, combined with the opportunities this partnership brings, will enable us to expand our global reach, strengthen our industry-leading capabilities, and deliver unmatched value to our clients in sectors such as oil and gas, power utilities, public safety, and agriculture."This partnership also reinforces Volatus' extensive capabilities, including expertise in beyond visual line of sight (BVLOS) operations, advanced thermography solutions, and geomatics services. With over 10,000 BVLOS flights completed and an industry-leading operations control center, Volatus continues to set benchmarks for innovation and operational excellence.About Volatus AerospaceVolatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With deep technological and subject matter expertise and over 100 years' worth of combined institutional knowledge in aviation, Volatus provides meaningful aerial solutions for end users across various industries using both piloted and remotely piloted aircraft systems (RPAS or drones). We are committed to enhancing operational efficiency, safety, and sustainability through innovative, real-world aerial solutions.About Air Data SystemsAir Data Systems specializes in innovative Unmanned Aerial System (UAS) solutions, providing expert services across multiple industries. ADS brings decades of experience in technology, engineering, and regulatory compliance, now seamlessly integrated into Volatus Aerospace's global ecosystem.Forward-Looking InformationThis news release contains statements that constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding: (i) the anticipated benefits of, and estimated revenue to be generated by, the master service agreement; (ii) the business plans and expectations of the Company; and (iii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies, or beliefs of management as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information and forward-looking statements reflect the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the anticipated benefits and revenues of the master service agreement to the Company; the commercialization of drone flights beyond visual line of sight and potential benefits to the Company; meeting the continued listing requirements of the TSXV; and including, but not limited to, those factors set forth in the Company's Annual Information Form under the section "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.TSXV: FLT.VMedia ContactDanielle GagneHead of Marketing and Communicationsdanielle.gagne@volatusaerospace.com+1-579-977-5066SOURCE: Volatus Aerospace Corp. Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Dec 11, 2024 - (ACN Newswire via SeaPRwire.com) - BDO, the world’s fifth largest accountancy and advisory network, has announced the winners of the 6th BDO ESG Awards (the Awards). The winning companies have integrated ESG principles and climate change considerations into their business strategies. They have actively emphasised the importance of ESG and promoted its development by implementing influential and long-term sustainable development measures. This year, the Awards received strong support from listed companies, with more than 110 companies participating at the nomination stage, a six-year high. All finalists were invited to attend the awards ceremony to witness the winners honoured. (Click here or view the full list below*)Once again, “Carbon Neutrality” has been selected to be this year’s theme, emphasising the important role that companies play in mitigating climate change and shaping a green future. The Theme Awards are dedicated to recognising listed companies that have demonstrated best practices in “Carbon Neutrality”, including reducing carbon emissions and planning and adopting relevant measures. The companies competing for this year’s Theme Awards were outstanding and evenly matched. A total of three companies won this award, setting a new record.Mr Andrew Lam, Managing Director, BDO, said, “The BDO ESG Awards first launched in 2018 when listed companies began to explore the implementation of ESG initiatives. Today, we are pleased to see that an increasing number of listed companies are recognising the importance of ESG and pursuing long-term ESG development. The Awards have now gained considerable market recognition, and as an advocate of sustainable development, BDO is delighted to see an increasing number of Hong Kong-listed companies paying attention to ESG. Through the judging process, we have observed that the quality of the ESG initiatives implemented by the participating companies has improved and become more forward-looking. As the importance and influence of ESG continues to grow, we hope to work with all kinds of industries through the Awards to improve Hong Kong's green standards and consolidate the city’s position as a green financial centre.”Mr Johnson Kong, Managing Director, BDO, said, “In light of growing social awareness of sustainability and social responsibility, more and more investors and organisations are incorporating ESG factors into their investment decisions and tend to support companies that meet ESG standards. By implementing ESG policies, companies can build a good reputation that will enhance their competitiveness and attract more investors. As a professional in this field, BDO is committed to supporting Hong Kong-listed companies in various areas, such as assisting them in ESG reporting and risk management, and providing them with recommendations to improve ESG performance. We hope the Awards will raise ESG awareness among all stakeholders in society so that more listed and unlisted companies in Hong Kong will prioritise the importance of ESG practices in the future.”Mr Ricky Cheng, Director and Head of Risk Advisory, BDO, said, “This year’s winners come from a variety of industries, and all of the nominated companies have demonstrated outstanding performance in various areas of competition. BDO is proud of the winning companies dedicated to sustainable development, and we are thrilled to support all those who are making strides toward a more environmentally friendly and responsible business landscape through this award and our expertise.”BDO ESG Awards 2024 Winners (listed in alphabetical order) Best in ESG – Large Market CapitalisationBOC Hong Kong (Holdings) Limited (02388.HK)HKT Trust and HKT Limited (06823.HK)Lenovo Group Limited (00992.HK)Best in ESG – Middle Market CapitalisationAAC Technologies Holdings Inc. (02018.HK)Kerry Properties Limited (00683.HK)Xinyi Solar Holdings Limited (00968.HK)Best in ESG – Small Market CapitalisationConcord New Energy Group Limited (00182.HK)Shun Tak Holdings Limited (00242.HK)Yuexiu Services Group Limited (06626.HK)Best in Reporting – Large Market CapitalisationHKT Trust and HKT Limited (06823.HK)Sino Biopharmaceutical Limited (01177.HK)Techtronic Industries Company Limited (00669.HK)Best in Reporting – Middle Market CapitalisationKerry Properties Limited (00683.HK)PCCW Limited (00008.HK)Xinyi Solar Holdings Limited (00968.HK)Best in Reporting – Small Market CapitalisationNew World Department Store China Limited (00825.HK)Xinyi Energy Holdings Limited (03868.HK)Yuexiu Services Group Limited (06626.HK)ESG Report of the Year – Large Market CapitalisationHKT Trust and HKT Limited (06823.HK)ESG Report of the Year – Middle Market CapitalisationKerry Properties Limited (00683.HK)ESG Report of the Year– Small Market CapitalisationYuexiu Services Group Limited (06626.HK)Outstanding ESG Performance of H-Share CompaniesChina Tower Corporation Limited (00788.HK)Shanghai Electric Group Company Limited (02727.HK)ZTE Corporation (00763.HK)Theme AwardsLenovo Group Limited (00992.HK)Yuexiu Property Company Limited (00123.HK)ZTE Corporation (00763.HK)Photo CaptionsBDO representatives and panel of judges attend the BDO ESG Awards 2024Presentation Ceremony.Representatives of the award winners, BDO, and panel of judges pose for agroup photo at the BDO ESG Awards 2024 Presentation Ceremony. Note to editorsAbout BDO Limited BDO's global organisation extends across 166 countries and territories, with more than 115,600 professionals working in over 1,770 offices - and they're all working 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 Hong Kong provides an extensive range of professional services including assurance services, risk advisory services, specialist advisory services and tax services. For more details, visit www.bdo.com.hk.ContactsSala LoSenior Marketing Manager and Team HeadBDO Hong KongHeidi LauSenior Marketing ManagerBDO Hong Kong Strategic Financial Relations LimitedVicky LeeYoko LiTel +852 2218 3042Mobile +852 9613 5175salalo@bdo.com.hkTel +852 2218 2325Mobile +852 9285 4151heidilau@bdo.com.hkTel +852 2864 4834sprg_bdo@sprg.com.hkTel +852 2864 4813sprg_bdo@sprg.com.hk Copyright 2024 ACN Newswire via SeaPRwire.com.
SHANGHAI, Dec 12, 2024 - (ACN Newswire via SeaPRwire.com) - Everest Medicines (HKEX 1952.HK, "Everest", or the "Company"), a biopharmaceutical company focused on the discovery, clinical development, manufacturing and commercialization of innovative therapeutics, today announced that the first prescription of VELSIPITY(R) (etrasimod) has been issued on December 11th at Kiang Wu Hospital in Macau. It is also the first prescription issued for VELSIPITY(R) within Everest Medicines' licensed territories in Asia following its approval, marks the official beginning of this new therapy benefiting patients across Asia.VELSIPITY(R) is an innovative advanced therapy that was officially approved by the Pharmaceutical Administration Bureau of Macau in April 2024. It is an oral treatment taken once daily for the treatment of patients aged 16 and above with moderately to severely active ulcerative colitis (UC). UC is a chronic, relapsing, idiopathic inflammatory disease, and with prolonged disease duration, the risk of disability and colorectal cancer incidence continues to rise."As a next-generation S1P receptor modulator, VELSIPITY(R) can provide patients with a chance for corticosteroid-free remission, mucosal healing, and rapid symptom relief." said Prof. Wu Kaichun with the First Affiliated Hospital of AFMU, the principal investigator for etrasimod's Asia clinical trial." The recently announced results of the Asian multicenter Phase III clinical study for induction and maintenance periods further confirm the clinical advantages of VELSIPITY(R). We look forward to VELSIPITY(R) being approved in other regions of Asia soon to benefit more patients.""The first prescription of VELSIPITY(R) in Macau marks another milestone in the commercialization process of Everest Medicines." said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines." By 2030, the number of patients with UC in China is expected to more than double compared to 2019, reaching approximately 1 million, with a significant unmet need for innovative therapies. Following its approval in Macau this April, VELSIPITY(R), the third commercialized product of Everest Medicines, will bring new treatment options to more patients with moderate to severely active UC. We plan to have VELSIPITY(R) submitted for new drug application in mainland China by the end of this year, further enhancing its accessibility and benefiting more patients."In the results of the multi-center Phase 3 clinical trial of etrasimod in Asia for the treatment of subjects with moderately to severely active UC, which were announced in July this year, etrasimod achieved positive results in both the induction and maintenance phases of treatment, with good safety, and the convenience of once-daily oral administration, further providing a solid scientific basis and support for the broad application of the drug in clinical practice. In October, the complete induction phase data of the study were presented at the 32nd United European Gastroenterology Week (UEGW 2024), showing that all primary and key secondary efficacy endpoints in the etrasimod treatment group achieved statistically significant and clinically meaningful improvements compared to the placebo group at week 12: the treatment differences between the etrasimod group and the placebo group in clinical remission rate, endoscopic improvement rate, and clinical response rate reached 20.4%, 28.6%, and 32.0%, respectively.VELSIPITY(R) was approved in the United States and the European Union in October last year and February this year, respectively. As a core product for Everest Medicines, VELSIPITY(R) was successively approved in Macau and Singapore in the first half of this year. Everest Medicines has also submitted a new drug application for VELSIPITY(R) in Hong Kong, China which has been officially accepted.In October of this year, through the "Hong Kong and Macau Medicine and Equipment Connect" policy, VELSIPITY(R) has officially been approved for patients with moderately to severely active ulcerative colitis (UC) by the Guangdong Provincial Medical Products Administration and can first be used in the First Affiliated Hospital of Sun Yat-sen University, Foshan Fosun Chancheng Hospital, Shenzhen Hospital of Southern Medical University and Guangzhou United Family Healthcare, four of the medical institutions designated by the Connect Policy in the Greater Bay Area. Subsequently, VELSIPITY(R) will be introduced in other qualified hospitals under the connect policy.About VELSIPITY(R) (etrasimod)VELSIPITY(R) is a once-daily, oral, sphingosine 1-phosphate (S1P) receptor modulator that selectively binds with S1P receptor subtypes 1, 4, and 5. Regulatory approvals have been granted in US, EU, Canada, Australia, Singapore, UK, Switzerland, Israel and Macau for VELSIPITY(R) in ulcerative colitis.About Everest MedicinesEverest Medicines is a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing transformative pharmaceutical products and vaccines that address critical unmet medical needs for patients in Asian markets. The management team of Everest Medicines has deep expertise and an extensive track record from both leading global pharmaceutical companies and local Chinese pharmaceutical companies in high-quality discovery, clinical development, regulatory affairs, CMC, business development and operations. Everest Medicines has built a portfolio of potentially global first-in-class or best-in-class molecules in the company's core therapeutic areas of renal diseases, infectious diseases and autoimmune disorders. For more information, please visit its website at www.everestmedicines.com.Forward-Looking Statements:This news release may make statements that constitute forward-looking statements, including descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the business operations and financial condition of the Company, which can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, or other factors, some of which are beyond the control of the Company and are unforeseeable. Therefore, the actual results may differ from those in the forward-looking statements as a result of various factors and assumptions, such as future changes and developments in our business, competitive environment, political, economic, legal and social conditions. The Company or any of its affiliates, directors, officers, advisors or representatives has no obligation and does not undertake to revise forward-looking statements to reflect new information, future events or circumstances after the date of this news release, except as required by law. Copyright 2024 ACN Newswire via SeaPRwire.com.
Ho Chi Minh City, Vietnam – December 12, 2024 - (ACN Newswire via SeaPRwire.com) - The much-anticipated ASEAN Ceramics & ASEAN Stone Exhibition 2024 officially has opened its doors yesterday, marking the start of a three-day showcase of the latest innovations, technologies, and trends in the ceramics and stone industries. Hosted at the Saigon Exhibition and Convention Center (SECC), this event has brought together exhibitors, professionals, and thought leaders from across the ASEAN region and beyond.This year’s exhibition marks a significant milestone with the debut edition of the ASEAN Stone Exhibition, which seamlessly integrates with the well-established ASEAN Ceramics platform. Together, the two exhibitions provide a comprehensive look at the synergy of the ceramics and stone industries, fostering collaboration and innovation across the entire value chain.The opening ceremony, held yesterday morning, was a grand celebration featuring distinguished speakers, international delegations, and honoured guests. The ceremony began with the welcoming and registration of VIP guests and press, setting a tone of excitement for the day ahead. Following this, a warm welcome address was delivered by the organizers, including Mr. Michael Wilton, Chief Executive Officer and Managing Director of MMI Asia Pte Ltd, and Mr. Dinh Quang Huy, Chairman of the Vietnam Building Ceramic Association (VIBCA).The event continued with opening remarks by Mr. Nguyen Van Sinh, Deputy Minister of Construction, Ministry of Construction of Vietnam, highlighting the importance of the ceramics and stone industries to the country’s and region's development. Several esteemed representatives from the ASEAN region then shared their perspectives. Mr. Pham Tuan Khanh, Vice Chairman of the Saigon Construction & Building Material Association (SACA), and Dr. Sirithan Jiemsirilers, President of the Thai Ceramics Society (TCS), extended their welcome addresses, reflecting on regional collaboration. Additionally, a special welcome video presentation from ASAKI Indonesia, a member of the Ceramics Industry Club of ASEAN (CICA), emphasized the unity of the ASEAN ceramics community.The ASEAN Ceramics & ASEAN Stone Appreciation Awards was a highlight of the ceremony, with trophies awarded to honour the contribution of key associations, sponsors, and major exhibitors. The recipients included exhibitors such as Minnovation Group, Puresil India, Gilfair Hong Kong Company Limited, MMA Bentonite, TQT, VITIS, Shandong Victor, Monte-Bianco, and Tianjin Trend. Additionally, associations such as VIBCA, VABM, VIBM, CCPIT, ACIMAC, Confindustria Marmomacchine, TCS, Cambodia Stone Quarries Association and SACA were recognized for their consistent support and contributions. Finally, the ceremony closes with a symbolic ribbon-cutting, followed by a group photo and guided VIP tours of the exhibition halls, officially inaugurating this landmark event.Speaking at the event, Mr. Michael Wilton expressed his excitement for the exhibition, stating, “The debut of ASEAN Stone is a testament to the increasing demand for solutions in the stone industry. This new platform complements ASEAN Ceramics by highlighting the shared technologies, overlapping supply chains, and synergies that unite these two sectors.”With over 300 companies and brands and over 5000 trade visitors expected, ASEAN Ceramics & ASEAN Stone 2024 showcases products of the finest quality, sustainable practices, and state-of-the-art machinery. The event promises to offer unparalleled opportunities for networking, knowledge sharing, and business growth amongst the international ceramics and stone markets.The organizers warmly invite the public to explore the exhibition and participate in various workshops, panel discussions, and live demonstrations happening throughout the event. This is a unique chance to experience the best of what the ceramics and stone industries have to offer, all under one roof.The exhibition is open from December 11 to 13, 2024, at the Saigon Exhibition and Convention Center (SECC). Admission is free for registered attendees.For more information, visit the official website of ASEAN Ceramics & ASEAN Stone Exhibition 2024 at aseanceramics.comAbout Messe Muenchen GmbHMesse Muenchen GmbH is one of the world's leading trade fair organizers with more than 50 trade fairs for capital goods, consumer goods, and new technologies. Every year, Messe Muenchen organizes more than 200 events in Munich, Germany, and abroad, attracting over 30,000 exhibitors and 2 million visitors. The company's mission is to create innovative, sustainable, and profitable platforms for its customers to do business and connect with their target markets.About MMI Asia Pte LtdMMI Asia is a full subsidiary of Messe München GMBH (MMG) established in 1992 and one of the world largest and leading exhibition organizers. MMI Asia was set up as the regional headquarter and a wholly-owned subsidiary of MMG to promote global trade expansion by facilitating participation of Asian exhibitors in Messe München fairs worldwide. MMI Asia also provides consultancy in professional trade fair and conference management to government bodies, international trade and promotion organizations, and trade associations.About Vietnam Building Ceramic Association (VIBCA)Vietnam Building Ceramic Association is a professional organization, non-governmental, voluntary, established under Decision No. 41/1999 / QD - BTCCBCP dated 04-10-1999 of the Minister, Head of the Organizing Committee Government personnel. Currently VIBCA includes around 100 members are enterprises of different economic sectors, operating mainly in the field of building ceramics, including the associate members are research institutions, investment consulting, manufacturing and mechanical engineering. VIBCA is a member of the Association of Asean Ceramics Industry CICA and intimate relationship with the Association Ceramics of countries in Asean and in the world.Contact:MMI Asia Pte. Ltd.Valerie Fang – 65 9498 5538Marketing Executivevalerie.fang@mmiasia.com.sgVietnam Building Ceramic AssociationMs Vu Thi Kim Dung - 84 915114000Chief of Foreign Affairsvibcaoffice@gmail.com Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Dec 11, 2024 - (ACN Newswire via SeaPRwire.com) – As reported by the South China Morning Post today, Everest Medicines (HKEX 1952.HK) is accelerating its journey to become a leading biopharmaceutical company in the Asia-Pacific region, driven by robust R&D capabilities and exceptional commercialization expertise.Breakthroughs in Renal Disease Innovation with EVER001On December 4, Everest Medicines announced positive results in preliminary analysis of Phase 1b/2a clinical trial of EVER001, its next-generation, globally owned covalent reversible Bruton’s Tyrosine Kinase (BTK) inhibitor. The trial focuses on primary membranous nephropathy (pMN), a common pathological type of nephrotic syndrome in adults with significant unmet medical needs. The prevalence of pMN in China has been increasing, making it the second most common cause of nephrotic syndrome after IgA nephropathy (IgAN). Currently, there are approximately 2 million patients with pMN in China, 80,000 to 100,000 in the United States, 80,000 in Europe, and 40,000 in Japan，with incidence rates rising in recent years, reflecting its growing global disease burden.Unlike traditional covalent irreversible BTK inhibitors, EVER001 employs a novel covalent reversible mechanism that combines strong target binding with excellent selectivity, significantly reducing off-target toxicity. Positive results in preliminary analysis revealed promising outcomes, with over 90% reductions in anti-PLA2R antibodies and substantial improvements in proteinuria. Additionally, patients in the low-dose cohort who have completed 36 weeks of treatment, 81.8% achieved overall clinical remission, and 91% achieved immunological complete remission. In the high dose cohort, 85.7% patients achieved overall clinical remission and all patients achieved immunological complete remission by week 24. With no currently approved treatments for pMN, EVER001 represents a potentially best-in-class therapeutic candidate. These results highlight EVER001’s potential to deliver best-in-class efficacy and safety, making it a promising treatment not only for pMN but also for a range of other autoimmune glomerular diseases, including lupus nephritis (LN), IgAN, Minimal Change Disease (MCD), and focal segmental glomerulosclerosis (FSGS).With broad indication potential, rising disease prevalence, and Everest Medicines’ global rights, EVER001 represents a high-value asset in a “Blue Ocean” area with significant commercial potential. Kidney disease therapeutics have become a hotspot for innovation and investment in recent years, attracting major multinational pharmaceutical companies. For example, Vertex Pharmaceuticals acquired Alpine Immune Sciences this April for $4.9 billion to access its kidney autoimmune disease therapies. Similarly, Novartis acquired Chinook Therapeutics in June 2023 for $3.5 billion, gaining access to two late-stage treatments for rare, severe chronic kidney diseases.Driving Commercial Success with a Dual-Engine StrategyEverest Medicines continues to strengthen its leadership in nephrology with NEFECON(R), the first FDA-approved treatment for IgAN and the first etiological therapy for IgAN in China. Its inclusion in the 2024 National Reimbursement Drug List (NRDL) marks a significant milestone, enhancing patient accessibility and driving market penetration starting January 1, 2025. Since its commercial launch in May 2024, NEFECON(R) has generated RMB167 million in sales within its first month. The product is also approved in Macau, Hong Kong, Taiwan, South Korea, and Singapore, further cementing Everest’s expertise in nephrology.Everest’s diversified portfolio also includes XERAVA(R) and VELSIPITY(R). XERAVA(R), a novel broad-spectrum antibiotic, demonstrated an overall effectiveness rate of 90.9% after three days of treatment in the "Comprehensive Evaluation Project on the Clinical Application of Eravacycline", contributing RMB134 million in revenue in H1 2024. VELSIPITY(R), approved under the "Hong Kong and Macau Medicine and Equipment Connect" policy, is now available in three designated medical institutions within the Greater Bay Area. It has also received approvals in Macau and Singapore, with an NDA accepted in Hong Kong and plans for an NDA submission in Mainland China by year-end.Everest is accelerating innovation through its proprietary mRNA platform, a cornerstone of its long-term R&D strategy. In August 2024, Everest launched an Investigator-Initiated Clinical Trial for EVM16, a personalized mRNA cancer vaccine, at Peking University Cancer Hospital and Fudan University Cancer Hospital. The company is also advancing mRNA-based in vivo CAR-T programs for cancer and autoimmune diseases, expanding its pipeline’s potential.As of now, Everest Medicines reached a 52-week high of HKD 49.7, closing at HKD 47.85. Since announcing its mid-year results, the stock price has more than doubled, reflecting strong investor confidence. With its dual-engine strategy, Everest has positioned itself as a rising leader in the global biopharmaceutical industry, focusing on unmet medical needs, particularly in renal diseases, and breakthrough therapies like EVER001. Supported by strong financial momentum and a clear vision, Everest is poised for sustainable growth and lasting value for patients and shareholders. Copyright 2024 ACN Newswire via SeaPRwire.com.
