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ACN Newswire press release news - Recent Press Releases

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    Benjamin Chau, Deputy Executive Director, HKTDC (centre); Wayne Leung, Vice President, Hong Kong Watch Manufacturers Association Ltd (left); and Moses Leung, Director, The Federation of Hong Kong Watch Trades & Industries Ltd (right) announce details of the fair and discuss the latest industry developments at a press conference today.
    Over 820 International Exhibitors Spotlight Exquisite Timepieces

    HONG KONG, Aug 29, 2017 - (ACN Newswire) - Organised by the Hong Kong Trade Development Council (HKTDC), the Hong Kong Watch Manufacturers Association Ltd and The Federation of Hong Kong Watch Trades and Industries Ltd, the 36th HKTDC Hong Kong Watch & Clock Fair will be held from 5-9 September at the Hong Kong Convention and Exhibition Centre (HKCEC). The world's largest event of its kind, the fair will feature more than 820 exhibitors from 24 countries and regions. The concurrent Salon de TE will open free of charge to public visitors aged 12 or above on the fair's last day (9 September).

    Benjamin Chau, Deputy Executive Director, HKTDC, said that Hong Kong is the world's second-largest exporter of watches and clocks, with exports reaching HK$36.4 billion in the first seven months of 2017. Its top export markets are the Chinese mainland (HK$6.6 billion), the United States (HK$5.6 billion) and Switzerland (HK$5 billion), which together account for nearly half of Hong Kong's total timepiece exports. Hong Kong watch and clock companies engage mainly in OEM business, but many have started developing ODM capability and even OBM business to move up the value chain. As wearable tech becomes more prevalent, Hong Kong companies are also keen to invest in developing smart watches.

    Showcasing about 150 premium international watch brands and designer collections, Salon de TE comprises five thematic zones: World Brand Piazza, Renaissance Moment, Chic & Trendy, Craft Treasure and Wearable Tech.

    The World Brand Piazza, sponsored by Prince Jewellery & Watch for the eighth consecutive year, will present 13 renowned international brands, including four newcomers - Jacob & Co, Jaquet Droz, Juvenia and Montblanc - as well as returning brands Blancpain, Breguet, Chopard, CORUM, DeWitt, FRANCK MULLER, Glashutte Original, Piaget and Zenith.

    Exquisite timepieces at Salon de TE

    Jacob & Co will bring two ultra-prestigious limited edition timepieces. The one-of-a-kind Billionaire Tourbillion Watch is valued at HK$160 million. The luxurious timepiece features a case and strap set with 239 pieces of emerald-cut diamonds weighing, in total, 260 carats, including a three-carat gemstone. The opulent case is made from 18K platinum. The Astronomia Solar Tourbillon Watch, valued at HK$2.8 million, features a 3D model on the dial, simulating the moon's revolution around the earth. With a 3D celestial panorama where the edge of the dial displays the month, the intricate dial design showcases the brand's exquisite craftsmanship.

    Craft Treasure will present high-end functional mechanical watches and jewellery watches. Among them is a mechanical watch by Hong Kong brand H.I.D., a sporty timepiece that mixes heritage design with modern creative ideas and inspired by the vintage design of classic vehicles from the 1960s.

    The Chic & Trendy zone will gather a variety of trendy and fashionable watches. Hong Kong brand odm will present a uniquely designed watch inspired by double moons revolving around Mars, where the traditional hour and minute hands are replaced by two silver balls to simulate their revolutions.

    Renaissance Moment will present European watches in various styles. Swiss Eminence and Swiss Independent Watchmaking Pavilion (SIWP) will return to showcase premium Swiss watches. Wearable Tech will showcase a range of smart watches equipped with the latest technology and functionality.

    OEM Smart Watches zone returns

    As smart watches have become fashionable in recent years, the HKTDC set up an "OEM Smart Watches" zone at the fair last year to showcase OEM smart watches and parts. Singaporean exhibitor KaHa Pte Ltd will present the PRiSM Slim Smart Series this year. The watches mix the old with the new, keeping the analogue dial with hands while incorporating smart technology and sport functionality. The PRiSM series is an innovative integration of the latest smart technology with the charm of an analogue interface in a single module. The fair also features the Pageant of Eternity zone to showcase high-end complete watches, as well as zones such as Complete Watches, Clocks, Machinery & Equipment, Packaging, Parts & Components and Trade Services, providing a one-stop sourcing platform for buyers.

    Time to connect through fascinating events

    More than 30 events will be organised to help industry players connect and share market information. The Hong Kong International Watch Forum on 5 September will gather industry elites to examine the challenges and opportunities ahead, while the Asian Watch Conference (6 September) will discuss future trends of fashionable branded smart watches. A Guide to the Swiss-made Label will feature several industry representatives to discuss the ordinance and its implementation. Watch parades and product launch sessions will feature a number of celebrities, including Karena Ng, Daniel Chan, Zoie Tam Hoi Ki, Max Cheung, Ricky Fan, Jim Chim, Milky Leung and the renowned magician John Fung.

    On Public Day (9 September), Salon de TE will open free of charge to public visitors aged 12 or above. Visitors can enjoy a series of watch parades, tourbillon craftsmanship demonstration, sharing sessions and lucky draws. The HKTDC will also stage the concurrent international fashion event CENTRESTAGE (6-9 September) at the HKCEC to showcase fashion brands and designer collections, bringing more cross-over business opportunities to exhibitors.

    Design competition to promote local creativity

    To help raise the design standards of Hong Kong watch brands and encourage creative ideas, the HKTDC Hong Kong Watch & Clock Fair 2017 Organising Committee, together with the Hong Kong Watch Manufacturers Association Ltd and The Federation of Hong Kong Watch Trades & Industries Ltd, co-organised the 34th Hong Kong Watch & Clock Competition. The competition was divided into open group and student group categories. "Luxury Automobile" was the theme of the open group, while the student group adopted the theme of "Future Luxury." This year, the competition received over 200 entries. The winning and final entries will be displayed at the Hong Kong Watch & Clock Fair at Hall 1B concourse to showcase Hong Kong's creativity to international buyers.

    Photo Download: http://bit.ly/2wkU0HO

    Fair Websites
    HKTDC Hong Kong Watch & Clock Fair: www.hktdc.com/hkwatchfair
    5-9 September: Trade visitors aged 18 or above only (Free Admission)
    Salon de TE: www.hktdc.com/hkwatchfair/te
    9 September: Open to public visitors aged 12 or above (Free Admission)

    For Media:
    Media representatives wishing to cover the event may register on-site with their business cards and/or media identification.

    To view press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

    About HKTDC

    Established in 1966, the Hong Kong Trade Development Council (HKTDC) is a statutory body dedicated to creating opportunities for Hong Kong's businesses. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China, Asia and the world. With 50 years of experience, the HKTDC organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in international markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus. Follow us on Google+, Twitter @hktdc, LinkedIn.

    Google+: https://plus.google.com/+hktdc
    Twitter: http://www.twitter.com/hktdc
    LinkedIn: http://www.linkedin.com/company/hong-kong-trade-development-council

    Contact:
    HKTDC Communication and Public Affairs Department Selina Fan Tel: +852 2584 4298 Email: selina.mi.fan@hktdc.org

    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Focused Business Segments Achieved Sustained Growth; Net Profit Rose Steadily

    HONG KONG, Aug 29, 2017 - (ACN Newswire) - Legend Holdings Corporation ("Legend Holdings" or the "Company"; stock code: 3396.HK) today announce the unaudited interim results of the Company and its subsidiaries for the period ended 30 June 2017 (the "Reporting Period").

    Financial Highlights
    Six months ended 30 June 2017:

    - Revenue (including continuing operations and discontinued operations) was RMB142.482 billion, representing an increase of 6% year on year; in which the revenue of continuing operations increased by 9% year on year
    - Net profit attributable to equity holders of the Company was RMB2,687 million, representing an increase of 4% year on year; in which net profit from continuing operations attributable to equity holders of the Company increased by 9% year on year
    - Basic earnings per share were RMB1.15, representing an increase of 5% year on year, in which basic earnings per share of continuing operations increased by 10% year on year

    During the Reporting Period, Legend Holdings realized revenue (including continuing operations and discontinued operations) of RMB142.482 billion, representing an increase of 6% year on year, in which the continuing operations revenue increased by 9% year on year; net profit attributable to equity holders of the Company amounting to RMB2,687 million, representing an increase of 4% year on year, in which net profit from continuing operations attributable to equity holders of the Company increased by 9% year on year; basic earnings per share were RMB1.15, representing an increase of 5% year on year, in which basic earnings per share of continuing operations increased by 10% year on year.

    The strategic investments of the Company fully focused on consumption and services. Revenues of five segments have been further increased. Three major segments, namely financial services, innovative consumption and services as well as agriculture and food, all recorded substantial growth of revenue, the portfolio companies sustained its sound development. Meanwhile, financial investments of the Company recorded encouraging returns, both management scale and profit contribution increased to bring continuous and steady cash flow to the Company. Also, new funds were raised successfully, thereby laying a solid foundation for future development. In addition, the Company continued to help the portfolio companies in obtaining resources for development through various means of capital operations.

    Mr. ZHU Linan, President of Legend Holdings, stated that, "In the first half of 2017, global economy generally had a sign of recovery, China's economy was steadily improving. Rooted in our established strategies, Legend Holdings insisted on the unique 'two-wheel-drive' business model 'strategic investments + financial investments', to optimize property development business and accelerate the launch of capital operations. Meanwhile, by taking the advantage of China's economic growth momentum, the Company actively pay attention to and participate in the issues of consumption upgrading, supply-side structural reform, SOE reform and 'the Belt and Road'. Legend Holdings continued to layout the strategic convergence to enhance and create the value of investment portfolio. In the future, building on the economic trend, the Company will implement its development strategies unswervingly and achieve synergy of strategic and financial investments, so as to push forward the accomplishment of 'two-wheel-drive', as well as to engage in building new pillar businesses to create better long-term returns for investors."

    Strategic Amplify on Focused Segments and Dynamic Optimize Portfolio Investments

    During the Reporting Period, five segments of strategic investments increased in revenues, in which the focused segments such as financial services, innovative consumption and services as well as agriculture and food recorded robust growth, each business segment was entering into the rapid growth track.

    Each business of financial services segments achieved sound growth, revenue increased by approximately 204% year on year to RMB1,688 million. The business development of JC Finance & Leasing and Kaola Technology remained strong. During the Reporting Period, revenue and net profit of JC Finance & Leasing amounted to RMB302 million and RMB85 million, representing a growth of 193% and 183% respectively year on year. The outstanding balance of loans of Kaola Technology amounted to approximately RMB6.7 billion and the maximum single-day credit loan amount of individual loan business exceeded RMB100 million. By developing the Company's features and advantages, and increasing the impetus of capital to the development of real economy, financial segment is expected to be main pillar of the Company.

    The Company continued to amplify in innovative consumption and services segment, revenue increased by approximately 30% year on year to RMB1,222 million. To grasp with the market opportunity in upgrading consumption and national economic development, the Company has been actively seizing new opportunities and optimizing stock assets. During the Reporting Period, Bybo Dental has substantially met our goal in its presence in China and established 207 clinics and hospitals. Bybo Dental paid attention to the development of business scale and medical technology. Shanghai Neuromedical Center, as a neurology specialist comprehensive hospital, recorded a year on year revenue growth of over 70% in the first half of the year. CAR has consolidated its leading position in China's car rental market. During the Reporting Period, Legend Holdings invested in Eastern Air Logistics Co., Ltd. ("EAL") and strategically participated in the SOE reform. The Company will help EAL in develop its value by utilizing extensive experience in business operations, experience of SOE reform and commercial resources. It is expected to create more opportunities to expand cooperation in the relative fields. In addition, the Company also monitored the investment opportunities in niche segments of the education industry.

    Accelerating supply chains portfolio in agriculture and food segment, revenue increased by approximately 64% year on year to RMB2,008 million. With the aim of improving food qualities for consumers, the Company has developed two supply chains of fresh fruits and fresh seafood and link to overseas resources which has the potential synergy with the consumption market of China intrinsically. The Company looked forward to enhance investment and operation efficiency through the industrial integration and a global presence in the future. In 2017, in view of the supply chain of fresh fruits, through the merger and acquisition of the Asian business of Capespan, the Company has achieved to cover Hong Kong, Southeast Asia, Japan and Korea markets, marking the commencement of the global presence of our fruit business channel. As for the seafood supply chain, we own KB Seafoods, a leading Australian seafood supplier, based on which the expansion and integration of global seafood supply chain system will be launched.

    In view of the IT segment, Lenovo continued its focus on striking a balance between growth and profitability in its PC and smart device business while executing its transformation strategy in its Mobile and Data Center businesses in the first half of 2017. For the new materials segment, Levima New Materials Company, subsidiary of Levima Group, successfully introduced RMB850 million strategic investment from CAS Holdings. The investment enhanced its capital structure and at the same time, strengthened the accumulated technology in innovative research and development in the new materials and fine chemical sector and development potential of the Company. Moreover, the Company disposed the entire equity interest of Phylion Battery, the overall valuation was RMB2.8 billion. The Company not only received a satisfactory financial return, but also optimized allocation of resources and pushed forward the launch of the strategic convergence through the disposal.

    Substantial Growth of Net Profit in Financial Investments and Continuous Expansion of the Scale of New Funds

    Financial investments segment recorded encouraging returns during the reporting period. Profit increased 127% year on year to RMB2,133 million, cash flow remained stable of approximately RMB1,450 million. Numerous new project investments were completed and launched by three funds management companies.

    During the reporting period, Legend Star had over 30 onshore or offshore investment projects covering frontier fields such as aerospace technology, intelligent vehicle, big data, artificial intelligence and quantum technology. Among the projects under management, 29 projects have finished another round of financing; one project that Unison has successfully listed on the NEEQS while the exit of three projects has been carried out. It promoted the establishment of Comet Labs at the end of 2015, the artificial intelligent accelerator, with the global presence in the artificial intelligent industry. There were 11 invested projects during the reporting period.

    Legend Capital accumulatively completed 25 new project investments during the reporting period, covering startup stage and growing stage enterprises in TMT and innovative consumption, modern services and intelligent manufacturing, healthcare, and culture and sports sectors. 10 projects were fully or partially exited, contributing cash inflow of RMB310 million for Legend Holdings. Among its portfolio companies, three enterprises were listed on the domestic and overseas capital market through IPO, namely Fullhan Microelectronics, Tanyuan Technology and WuXi Biologics. As of 30 June 2017, a total of 42 portfolio companies have been successfully listed and 13 were listed on the NEEQS.

    Hony PE funds fully or partially exited eight projects during the reporting period, while mezzanine funds fully or partially exited five projects, contributing cash inflow over RMB860 million for Legend Holdings in total. Meanwhile, one of its portfolio companies was listed in Hong Kong's capital market, namely Hospital Corporation of China Limited. As of 30 June 2017, 40 portfolio companies have been successfully listed onshore or offshore (including PIPE investment) and another three were listed on NEEQS. Hony Capital has fully exited its investments in 36 companies.

    In addition, new funds were raised successfully during the reporting period, leading to continuous expansion of financial investments segment. Legend Capital completed the final closing of the seventh USD fund and raised the second culture and sports fund, the total raised fund amounted to approximately RMB2,940 million. Hony Capital raised the second property value-added strategic fund with RMB2,560 million, and raised the Haidian technology industry space optimization fund with RMB1,075 million. Legend Star newly launched third RMB fund and third USD fund, the newly raised fund amounted to RMB357 million.

    As a pioneer in China's alternative investment sector, Legend Holdings seek to capture investment opportunities at various stages of a company's development through angel investment, venture capital and private equity investment and other investments to expand its financial investment business. Each of our investment arms has a different specialization and focus, which allows us to target a broad range of investments, as well as to build a wide network in the investment community, expand information sources and diversify our investment risks.

    Looking forward, Mr. LIU Chuanzhi, Chairman of Legend Holdings, states that, "Since the establishment of Legend Holdings, we keep promoting timely strategies in the basis of achieving higher goal and determining the trend of China's economic development. While the capital market in China is still in the embryonic stage, the Company enters the investment sector, eventually created today's strategic pattern of "capital + industry". Financial capital is an essential driving force for the development of the real economy, Legend Holdings has been committed to making direct investments in order to build up a leading enterprise in various segments and an outstanding investment portfolio. At present, China's economic development is entering into a new stage of "norm" while the Government vigorously promotes different themes of economic development. This is consistent with Legend Holdings' own practice, hence, creating a broad platform for us to excel. Going forward, we will base on our strategy to fully capture any opportunities through our capability of creating value in regard to mechanism reform, strategic development, supply chain synergy and management, to assist in the continuous development of our invested enterprises and create values for investors and society."

    Appendix: Business Review
    Strategic Investments

    IT: During the reporting period, the revenue was RMB134,672 million. In the first half of 2017, despite challenges in the slower PC market growth and currency volatility, Lenovo remained a leading player in the PC plus Tablet market and continued to strike a balance between growth and profitability. Mobile business started to show signs of flourishing, Lenovo continued to have an extensive global operation and recorded strong shipments growth in Latin America and Western Europe. Lenovo continued to execute the transformation plan of its data center business with investments in building direct sales capability, strengthening the channel and product solution capabilities to drive future sustainable profitable growth. Lenovo's Capital will continue to invest in AI (artificial intelligence), IoT (internet of things), Big Data and VR/AR (virtual reality/augmented reality) to illustrate its implementation of "Device + cloud" in order to develop new business and consolidate existing business. Lenovo also made progress in expanding its ecosystem with Lenovo ID users reaching 225 million cumulative users.

    Financial Services: During the reporting period, the revenue was RMB1, 688 million. Legend Holdings has established a broad presence in the financial services business and obtained various financial licenses and permits. Based on a large pool of our portfolio companies and customer resources, we promoted synergic development of our financial businesses. The net profit of financial services was RMB694 million. Our subsidiary Kaola Technology mainly provided innovative financial services to small and micro enterprises through internet. In the first half of 2017, Kaola Technology had robust business growth and recorded revenue of RMB796 million and net profit of RMB142 million. Zhengqi Financial continued to enhance business structure, micro loans, credit guarantee and financial leasing sustained their steady growth, while commercial factoring business grew rapidly. Revenue grew by approximately 31% to RMB590 million. JC Finance & Leasing realized a sound and rapid development since its incorporation in November 2015. During the reporting period, its revenue and net profit amounted to RMB302 million and RMB85 million, representing a growth of 193% and 183% respectively as compared with the corresponding period of 2016. Lakala Payment submitted to the China Securities Regulatory Commission the application for the initial public offering and listing its shares on the ChiNext board of the Shenzhen Stock Exchange on 3 March 2017.

    Innovative Consumption and Services: During the reporting report, the revenue was RMB1,222 million. Legend Holdings established our presence in air logistics sector by strategic investment in EAL. At the same time, we monitored the investment opportunities in niche segments of the education industry. In July, we made investment in Better Sun Educational Group and became its controlling shareholder. We will further participate in educational consumption upgrade by means of investment and expects to make contribution to the society with its enhanced value. Bybo Dental has substantially met our goal in its presence in China and paid attention to the development of business scale and medical technology. As of 30 June 2017, Bybo Dental had 207 outlets, comprising 55 hospitals and 152 clinics, representing a growth of 15% from the 180 as at the end of June 2016, covering 25 direct-controlled municipalities or provinces. The number of Bybo Dental's dental chairs rose from 2,290 as of 30 June 2016 to 2,742 as of 30 June 2017. Shanghai Neuromedical Center mainly provides clinical neurology specialist medical service. The number of outpatient visits and discharged patients increased significantly, its revenue substantially increased to RMB105 million, representing a growth of 70% as compared to the corresponding period of last year. Zeny Supply Chain continued to explore the business model of light asset operation and gradually developed innovative businesses such as financial businesses of supply chain. Return levels of the projects increased continuously through fine-tuned operation and loss continuously decreased. CAR continued to implement the strategy of enhancing customer experience and optimizing cost structure. As of 30 June 2017, the total size of operating fleet of CAR reached 88,301 cars, increasing by 0.8% as compared with the corresponding period of last year; the total size of fleet reached 100,029 cars, increasing by 0.3% as compared with the corresponding period of last year. CAR had 823 directly operating service spots in 104 cities of China, covering all first-tier and second-tier cities and main tourist spots in the country.

    Agriculture and Food Segment: During the reporting period, the revenue was RMB2,008 million. With the aim of improving food qualities for Chinese consumers, the agriculture and food segment has developed two supply chains of fresh fruits and fresh seafood. Its income increased significantly, net profit increased from RMB25 million in the corresponding period of last year to RMB141 million. In view of the supply chain of fresh fruits, through the merger and acquisition of the Asian business of Capespan, we have achieved to cover Hong Kong, Southeast Asia, Japan and Korea markets, marking the commencement of the global presence of our fruit business channel. Golden Wing Mau continued its overseas presence and carried out in-depth integration of the upstream and downstream of fruit business at the same time. During the reporting period, the revenue and net profit increased by 43% and 52% year-on-year respectively. As for the seafood supply chain, we own KB Seafoods, a leading Australian seafood supplier, based on which the expansion and integration of global seafood supply chain system will be launched. The overall business growth of KBI was in line with expectations. The significant effect of capital expenditures in 2016 resulting in great improvement in the operating efficiency of fresh food processing business in Western Australia; and KBI becoming the best supplier of seafood of the year of Woolworths, the largest operator of chain supermarkets in Australia. In May 2017, KBI completed the acquisition of 100% and 40% interests in Carnavan No.1 Fishing Trust (CNFT) and Darwin Fishing Trust (DFT), respectively. KBI will own two large purse seine fishing vessels in Shark Bay, Western Australia, which are mainly for fishing prawns, tiger prawns, scallops and other wild seafood. Such merger and acquisition will enable KBI to further consolidating the control over upstream resources and act as a platform for more merger, acquisition and integration of upstream resources in Australia, with a view to enhancing integration of the company's industrial chain, thereby strengthening the comprehensive competitiveness in the market. The transaction was approved by Foreign Investment Review Board of Australia. As its products portfolio continuously optimized and the differentiated competitive model became more developed, Funglian Group's operating profit increased by 299% year-on-year. At the same time, Legend Holdings completed the acquisition of Wanfu Biotechnology (300268.SZ) (now renamed as "Joyvio Agriculture"), a ChiNext listed company of China. As a platform for strategic industry development under Joyvio, the company will facilitate a more efficient launch of our business layout and industrial integration with the advantage of China capital market in future.

    New Materials: During the reporting period, the revenue was RMB2,588 million. Based on our core strategy: strategic investments fully focused on three major sectors segments, namely financial services, innovative consumption and services as well as agriculture and food. We disposed the entire equity interest of Phylion Battery during the reporting period. The overall valuation was RMB2.8 billion. Through the disposal, we enhanced investment portfolio and pushed forward the launch of the strategic convergence and received a satisfactory financial return. CAS Holdings strategically invested RMB850 million in Levima New Materials, the investment realized the access of intensive base of accumulated technology and innovative resources of Chinese Academy of Sciences by Levima New Materials. The investment enhanced its capital structure and at the same time, strengthened the accumulated technology in innovative research and development in the new materials and fine chemical sector and development potential of the company. Since 2016, by means such as capital injection, the shareholding of the management and introducing strategic investment from CAS holdings, we laid a solid foundation for Levima New Materials to develop independently into an outstanding enterprise in the new materials sector and have the capital market access.

    Financial Investments

    Legend Capital (Venture Capital)
    As of 30 June 2017, totally managed seven USD funds, four RMB funds, two early-staged RMB funds, one USD fund specialized in healthcare sector, one RMB fund specialized in healthcare sector, two RMB funds specialized in culture and sports sector and one fund in red-chip return concept. In the first half year, one new RMB fund was launched and the final closing of one USD fund was completed, further expanded the asset under management. The raised fund amounted to RMB2.94 billion during the reporting period. In the second half of 2017, the newly raised funds will still focus on Chinese enterprises and cross-border opportunities at the start-up stage and growing stage in TMT, innovative consumption, modern services and intelligent manufacturing, healthcare, and culture and sports sectors.

    During the reporting period, Legend Capital accumulatively completed 25 new project investments, covering the above investments focus. 10 projects were fully or partially exited, contributing cash inflow of RMB310 million for Legend Holdings. Among its portfolio companies, three enterprises were listed on the domestic and overseas capital market through IPO, namely Fullhan Microelectronics, Tanyuan Technology and WuXi Biologics.

    As of 30 June 2017, a total of 42 portfolio companies have been successfully listed and 13 were listed on the NEEQS, while the average internal rate of return for exit projects ranging between 35% and 40%.

    Hony Capital (Private Equity Investment)
    As of the first half of 2017, Hony Capital totally managed eight equity investment funds, two mezzanine funds and two property funds. During the reporting period, raised the second property value-added strategic fund with a size of RMB2.56 billion; meanwhile, the raising of the Haidian technology industry space optimization fund under the strategic cooperation between Hony property fund and a SOE of Beijing Haidian region commenced. RMB1.075 billion were raised during the reporting period. Currently the fund raising is still underway and the size is expected to be further expanded.

    PE funds focus on SOE reforms, development of private enterprises and cross-border mergers and acquisitions. It persistently carries out investment practice with specific industry concentration in consumption, services, general healthcare, advanced manufacturing and mobile internet. Six new projects or additional investment on existing projects were completed during the reporting period.

    The investment strategies of mezzanine funds mainly focus on mergers and acquisitions financing, asset securitization financing and special opportunity financing (e.g. corporate bridge facility, secured-asset financing and asset restructuring opportunities, etc.) etc. Four new investments or additional investments were completed during the reporting period.

    Property fund focuses strategically on the domain of office buildings in first-tier cities to create excess return over the market average by applying various value-added means. More than three new investment projects were in progress and currently up to the delivery stage.

    PE funds fully or partially exited eight projects, while mezzanine funds fully or partially exited five projects during the reporting period, contributing cash inflow over RMB860 million for Legend Holdings in total. Meanwhile, one of its portfolio companies were listed in Hong Kong's capital market, namely Hospital Corporation of China Limited.

    As of 30 June 2017, 40 portfolio companies have been successfully listed onshore or offshore (including PIPE investment) and another three were listed on NEEQS while 36 companies had been fully exited. The median of the internal rate of return on these investments was above 17%.

    Legend Star (Angel investment)
    As of 30 June 2017, totally managed four funds, of which the size amounted to approximately RMB1.5 billion with an aggregate of over 190 onshore or offshore investment projects, focusing on the early investment of TMT, healthcare and intelligent technologies. Third RMB fund and third USD fund were newly launched during the reporting period. As of 30 June 2017, the newly raised fund amounted to RMB357 million.

    During the reporting period, Legend Star had over 30 onshore or offshore investment projects covering frontier fields such as aerospace technology, intelligent vehicle, big data, artificial intelligence and quantum technology. Among the projects under management, 29 projects have finished another round of financing, one project of Unison have successfully listed on the NEEQS while the exit of three projects have been carried out.

    It promoted the establishment of Comet Labs at the end of 2015, the artificial intelligent accelerator, with the global presence in the artificial intelligent industry. There were 11 invested projects during the reporting period.

    About Legend Holdings Corporation

    Legend Holdings is a leading large investment group in China. The Company has built an innovative business model of "strategic investments + financial investments" with synergy between these "two-wheel-drive" businesses. Through strategic investments, the Company invests in five segments: IT, financial services, innovative consumption & services, modern food & agribusiness and new materials. The Company's financial investments business primarily consists of angel investments, venture capital and private equity across all stages of a company's life cycle. Over the past 32 years, under the leadership of the Company's Founder and Chairman, Mr. Liu Chuanzhi, and President, Mr. Zhu Linan, the Company has capitalized on its understanding of China's key development themes, complementary investment businesses and extensive management expertise to cultivate a number of outstanding and influential enterprises. By promoting business alignment and consolidation, and continuously optimizing its investment portfolio, the Company realizes sustainable growth in its corporate value. The Company's strategic investments business focuses on three major fields: financial services, innovative consumption & services and modern food & agribusiness, and continuously pays attention to overseas assets investment.



    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Net Profit reached to 461 million RMB Creating A New Record High Performance in Half Year

    HONG KONG, Aug 29, 2017 - (ACN Newswire) - Tianneng Power International Limited ("Tianneng Power" or the "Company"), one of the leading electric vehicle motive battery suppliers in China, together with its subsidiaries, (the "Group") (stock code: 819.HK), today announced its interim results for the 6 months ended 30 June 2017 ("Reporting Period").

    In the first half of 2017, the Group continued to adhere to the main theme of making progress while maintaining stability by focusing on quality and efficiency along with innovation drivers to progress further in enterprise platform, intelligentized manufacturing and global market presence, which contributed to a healthy development of each of its principal businesses. For the six months ended June 30 2017, the Group recorded total revenue of approximately RMB11,362 million, representing an increase of 24.8% as compared with the same period last year. Gross profit and gross profit margin is RMB1,438 million and 12.66% respectively. Profit Attributable to shareholders of the company increased RMB41 million to RMB439 million. Basic earnings per share increased about 4 cents to 39 cents. The Board does not recommend the payment of any interim dividend for the reporting period.

    Lead Battery Sales Increased by 26.5% YoY
    Lead battery has been a legend principal business of the Group. During the Reporting Period, the Group was admitted as a "National System Integration Project of Green Manufacturing", one out of the only two enterprises in the industry. The balance technology invented has been approved as a national patent and certified by the Patent Cooperation Treaty (PCT). The balance technology greatly maximizes the lifespan of a battery by achieving balance in six key areas, enabling various active substances in the battery to make their fullest play. Meanwhile, the Group has expanded the application scope of its lead batteries by addition of production facilities for industrial battery, energy storage battery and start-stop battery production. As forecasted in the Ipsos Industry Reports, the market of electric bicycle and tricycle battery and mini electric car battery in China will be valued over US$10 billion and 9 billion respectively by 2025.

    It is worth noting that, in first half of the year, with support of the Group's graphene batteries, the LEVDEO electric car successfully completed its ride along the Great Wall; the Group began to supply electric tricycle batteries to SF Express on an exclusive basis; and the Group's mini electric car battery continued to lead the market. During the Reporting Period, the group achieved sales revenue in the Lead battery with RMB10,098 million, representing an increase of 26.5% as compared with the same period last year.

    Lithium Battery Sales Increased by 57.5% YoY
    The lithium battery business is one of the most rapidly developed businesses of the Group. In the Reporting Period, Lithium battery sales recorded revenue of RMB455 million, representing an increase of 57.5% as compared with the same period last year. In relation to technical research and development, the Group launched ternary pouch cell products, which support heavy-current charge and discharge with higher power and energy density over 200Wh/kg. In respect of broadening of client base, during the Reporting Period, the Group has supplied its products to various well-known new energy auto companies, such as Chery Automobile Co, and Kandi Electric Vehicles Group, Lifan Motors, and has accumulated 100 client resources ranging from mini electric car manufacturers, high-end electric bicycle manufacturers to shared electric bicycle manufacturers so as to promote its lithium batteries in multiple dimensions and at multiple levels. For production capacity, the Group's newly established new energy vehicle motive (energy storage) lithium battery project in Changxing, Zhejiang Province with a total capacity of 3GWh has commenced production in phases. During the year, the project will continue to make full use of its capacity and aims to reach a total lithium battery production capacity of 5.5GWh.

    Meanwhile, the Group has been the only enterprise in the industry with its lithium battery business being selected as a "2017 Manufacturing and Internet Integration Pilot Project" by the MIIT, and the Group led and participated in the preparation of "Standards of Green Design of Lithium Battery Products" with the China Electrical Equipment Industry Association.

    Resource Recycling Business Profitability Shows Up
    During the Reporting Period, the profitability of the used battery recycling business began to show up and has maintained growth both in economic efficiency and social benefit. The used battery recycling capacity of the Group's bases in Eastern China and Northern China after capacity expansion are expected to reach 300,000 tons and 100,000 tons per annum respectively, totaling 400,000 tons per annum, posing the Group as the largest benchmarking and demonstrating enterprise in waste and used lead battery recycling business in China.

    Moreover, the Group established its lead-carbon storage laboratory in 2010, currently with several proprietary intellectual property rights. Nowadays, Electrification of traffic tools has been a rising global trend. Characterized by low price and convenience, electric bicycle becomes a key replacement of motorcycle and has been widely used in developing counties in Southeast Asia and South America. In future, the Group will continue to expand into the overseas market, such as America, Europe, Australia and Asia-Pacific, via "One Belt, One Road" initiative and prepare in aspect of technology, client and production capacity to embrace a booming market growth.

    Looking forward, Mr. Zhang, Tianren, Chairman and President said "the Group will continue to adhere to the main theme of making progress while maintaining stability by focus on quality and efficiency to create solutions to advanced lead battery system, high energy lithium battery system, integrated recycling economy industry chain and energy storage battery system. Continuously be driven by the mission of 'New Energy, New World' and determined to become 'a world leading new energy solution provider', the Group will continue to make further reformation and renovation to bring sustainable returns to its shareholders."

    About Tianneng Power International Limited
    Tianneng Power is one of the leading green power solution providers in China. The Company has been included in 'China Top 500' compiled by Fortune, as a constituent of MSCI Index, Hang Seng Composite Index, the Hang Seng Global Composite Index, Shenzhen Hong Kong Stock Connect Security, and Hang Seng Corporate Sustainability Index. In 2017, Tianneng Power has been accelerating its pace to transform and upgrade our solutions including advanced lead battery system, high-end lithium battery system, integrated recycling economic industry chain, and energy storage battery system, so as to improve economy efficiency, achieve industry upgrade, and enjoy the benefit of market integration. The Company has been awarded 'Best Motive Battery Brand in China Award' by Frost & Sullivan for four consecutive years, 'Leading Brand of Electric Car Motive Battery in China' by IPSOS for four consecutive years, 'Excellent Technology for Electric Vehicles Award' by Society of Automotive Engineers of China for two consecutive years. Tianneng Power has also been ranked the first of '2016 China's Top 100 Battery Industry List'.


    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Business Diversification Drives Continuous Revenue Growth

    HONG KONG, Aug 29, 2017 - (ACN Newswire) - Alltronics Holdings Limited ("Alltronics" or the "Group") (Stock code: 833), a leading electronic products manufacturer, a provider of energy-saving business solutions and a provider of property rental services has today announced its unaudited interim results for the six months ended 30 June 2017 ("1H2017").

    During 1H2017, the Group's revenue increased significantly by 43.4% to HK$675.5 million, mainly due to the increase in revenue from the electronic products segment and the rental income recognised from the investment property acquired during the period. Gross profit surged by 125.3% to HK$211.8 million, with gross profit margin improving to 31.4%. Profit attributable to owners of the Company soared 95.5% to HK$57.1 million, mainly due to the increase in revenue and the improvement in gross profit margin on electronic products; and the acquisition of the investment property group has resulted in a gain from bargain purchase of HK$6.3 million. The Group's net profit margin has improved to 8.5%.

    Basic earnings per share were HK6.04 cents. In appreciation of the shareholders' continuous support, the Board has declared the payment of an interim dividend of HK3.0 cents per share (1H2016: HK5.0 cents per share ).

    Business Review
    Revenue from the sales of electronic products, including finished electronic products, plastic moulds and components, and other components for electronic products, increased by 28.0% to HK$595.8 million (1H2016: HK$465.4 million). The growth was mainly attributable to the increase in sales of finished electronic products, which climbed 35.4% to HK$475.5 million (1H2016: HK$351.3 million). Sales of walkie-talkie products had increased by approximately HK$74.0 million, of which HK$18.2 million of walkie-talkie products were sold to Xian Feng Yu Technology Limited ("Xian Feng Yu"), one of the companies within the Xiaomi Ecosystem. Moreover, sales of irrigation controller products to the Group's largest customer in the United States had increased by approximately HK$22.3 million. On the other hand, sales revenue from other components for electronic products had increased by HK$6.3 million whereas the sales revenue from plastic moulds and components had remained stable during 1H2017.

    As for the investment property segment, the Group had completed the acquisition of Bonroy Limited and its subsidiaries (the "Bonroy Group") on 24 January. The principal asset of the Bonroy Group is the investment property known as "Pretty Shopping Centre" located at Beijing, the "PRC". During 1H2017, a total of HK$77.1 million in rental income was recognised from Pretty Shopping Centre.

    With regard to the energy-saving business segment, a total revenue of HK$0.7 million was recorded in 1H2017 (1H2016: HK$3.8 million), representing the energy-saving revenue generated from installation of LED lighting equipment at retail stores of Suning Commerce Group Co., Ltd. ("Suning") and hotels operated by the HNA Group Co., Ltd. The installation work for the Suning EMC Project continued and installation work for approximately 660 retail stores of Suning have been completed as at 30 June 2017.

    The biodiesel products segment recorded sales revenue of HK$1.9 million in 1H2017, and about 100 energy efficient gas stoves had been installed for customers in Hong Kong as at 30 June 2017.

    Prospects
    Despite the uncertain global economic environment, the Group has confidence that the overall performance of the electronic business segment will remain outstanding during the second half of 2017, with demand for its irrigation controllers and other major electronic products staying strong. In addition, new products such as walkie-talkie products manufactured for Xian Feng Yu and photolysis air purifiers will provide strong momentum for revenue growth.

    Moreover, the Group foresees that the contribution from its 42.34%-owned associate Yichun Yilian Print Tech. Co. Ltd. ("Yichun Yilian") will become more and more significant. Yichun Yilian is established in the PRC and is principally engaged in the manufacturing and sale of printers and other accessory products, and the provision of on-line printing services on a charge-by-page basis. During the period, two strategic investors had injected additional capital of RMB36.0 million in aggregate into Yichun Yilian. As at 30 June 2017, Yichun Yilian has distributed more than 3,500 printers to more than 120 universities and colleges in the PRC to provide on-line printing services. It is expected that the revenue from the on-line printing services will become Yichun Yilian's major revenue source in the future.

    Yichun Yilian was granted with the right to use an industrial park (the "Industrial Park") at Yuanzhou, the PRC, for a priod of 50 years. The total gross floor area of the industrial park is approximately 200,000 square meters and Yichun Yilian will set up production facilities for printers and accessories products with annual output of approximately 800,000 laser printers and 10,000,000 cartridges for laser printers. The Group will also set up new production facilities for its electronic products and components in the industrial park so as to expand its overall production capacity to cope with the increase in demand and for production of new products to be launched.

    Turning to the investment property segment, the Group has decided to carry out renovation work at Pretty Shopping Centre in order to attract more prominent and prestigious tenants and to increase the future rental income. The renovation work is expected to be completed in the first quarter of 2018.

    The Group expects the revenue from biodiesel products will remain stable during the second half of 2017, and the energy efficient gas stoves business to record steady growth. While for the energy-saving business, the Group will continue the installation works at other retail stores of Suning.

    Mr. Lam Yin Kee, Chairman of Alltronics concluded, "We are glad to see the Group maintain the strong growth momentum and achieve a remarkable performance in 1H2017, through our unwavering efforts to diversify the business. Looking ahead, we will continue to tighten controls over production costs and overhead, and improve production efficiency so as to maximise the gross profit margin. Furthermore, we will strive to explore opportunities for new products and projects with other potential customers in Hong Kong, the PRC and overseas, and will continue to look for investment opportunities to further diversify our business, aiming to generate a better return to all of our shareholders."

    About Alltronics Holdings Limited (Stock code: 833)
    Alltronics Holdings Limited is mainly engaged in the design and manufacture of a wide range of electronics products with quality and style, supplying biodiesel products as well as the provision of energy-saving business solutions and property rental services. Besides, the Company is in the process of diversifying its business into manufacturing patented Wi-Fi Products, medical equipment and printers. The Company is a constituent stock of Morgan Stanley Capital International ("MSCI") Hong Kong Micro Cap Index. For more information, please visit http://www.alltronics.com.hk/.

    Media enquiries
    Strategic Financial Relations Limited
    Vicky Lee Tel.: +852 2864 4834 Email : vicky.lee@sprg.com.hk
    Hawaii He Tel.: +852 2864 4847 Email : hawaii.he@sprg.com.hk
    Boni Liu Tel.: +852 2864 4870 Email : boni.liu@sprg.com.hk
    Fax: +852 2527 1196
    Website: www.sprg.com.hk




    
    
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    Toyota City, Japan, Aug 30, 2017 - (JCN Newswire) - Toyota Motor Corporation (TMC), Toyota Financial Services Corporation (TFS), Aioi Nissay Dowa Insurance Co.,Ltd. (Aioi) and Grab, Inc. (Grab), the largest ride-hailing service company in Southeast Asia, announce a collaboration to provide ride-hailing services throughout Southeast Asia.

    The Connected Company, a TMC in-house company, developed the data-transmission TransLog driving recorder, a device that captures driving patterns and deliver telematics services like the vehicle position management system to fleet customers. This project will now be extended to Southeast Asia for the first time.

    With TransLog installed in 100 Grab rental cars, Toyota will analyze driving patterns captured by the recording devices, and consider steps to deliver connected services including user-based insurance, financing programs, and predictive maintenance that make up the Toyota Mobility Service Platform (MSPF).

    Grab offers the widest range of on-demand transportation services in the most markets in Southeast Asia, with more than 55 million app downloads and over 1.2 million drivers in 87 cities across 7 countries.

    "Through this collaboration with Grab, we would like to explore new ways of delivering secure, convenient and attractive mobility services to our fleet customers in Southeast Asia." said Shigeki Tomoyama, Senior Managing Officer of Toyota Motor Corporation and President of the Connected Company.

    "Toyota is a global leader in the automotive sector and one of the most popular brands with drivers on our platform right across Southeast Asia, and we're excited to work together to explore how we can extend more and better connected car services to our driver partners," said Anthony Tan, co-founder and CEO of Grab Inc. "We are confident this will benefit our driver partners, and we look forward to exploring other ways to collaborate with Toyota in the future."

    Through this collaboration with Grab, Toyota will continue to explore further opportunities through its Toyota Mobility Service Platform (MSPF) to deliver even greater benefits to fleet customers.

    About Toyota

    Supported by people around the world, Toyota Motor Corporation (TSE: 7203; NYSE: TM), has endeavored since its establishment in 1937 to serve society by creating better products. As of the end of December 2013, Toyota conducts its business worldwide with 52 overseas manufacturing companies in 27 countries and regions. Toyota's vehicles are sold in more than 170 countries and regions. For more information, please visit www.toyota-global.com.

    Contact:
    Public Affairs Division Global Communications Department Toyota Motor Corporation Tel: +81-3-3817-9926

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Installation work at site
    Diesel Engine Generator Set MGS1500C
    TOKYO, Aug 30, 2017 - (JCN Newswire) - Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), a Group company of Mitsubishi Heavy Industries, Ltd. (MHI), has received an order for 147 units of its MGS Series gensets, the core lineup in the company's diesel power plant offerings, from PT PLN (Persero), a state-owned electricity provider in Indonesia. The gensets are to serve as stand-alone power systems, a mode of power supply especially useful in Indonesia, a country comprising thousands of islands. Plans call for the units to progressively go into service in 22 districts of Kalimantan and Sulawesi by mid-2018.

    The gensets on order are the MGS1500C, the central offering in MHIET's MGS Series lineup. They provide a continuous output of 1.2 megawatts (MW), and due to their high-speed operation, their engines are small in size and light in weight for units delivering output of this scope. As a result, a large number of the MGS1500C gensets can be installed within a limited area of space--one of their foremost benefits for their users.

    Manufacture and shipment of the 147 engines on order will be completed by the end of September. In Indonesia, Mitsubishi Heavy Industries Engine System Asia Pte. Ltd. (MHIES-A), a wholly owned MHIET subsidiary that markets and assembles engines and power systems within the Asia region, will procure the necessary generators and other related equipment and components. After all sets have been completed, PT Berkat Manunggal Jaya (BMJ), the local dealer for MGS Series finished gensets, will install gensets and perform test operations at 19 Kalimantan districts and 3 Sulawesi districts, followed by formal delivery to PLN. After the units go into commercial operation, MHIET will provide remote monitoring services for all installations from its Head Office in Sagamihara (Kanagawa Pref.), relying on ICT (information and communication technology).

    Indonesia is a nation of more than 13,000 islands straddling the Equator, and there are numerous regions where it is difficult to supply electricity from a large-scale power station over a long distance. The country stands to benefit, however, from abundant availability of oil resources to serve as diesel fuel, and for this reason PLN is focusing on supplying power to residents using diesel-based stand-alone generators. MHI supplied diesel gensets to PLN even before MHIET was spun off as a Group company, and to date more than 600 units have been delivered, reaching peak volume between 2008 and 2012. The latest order was placed in reflection of the high acclaim garnered through this robust track record.

    MHIET is a wholly owned subsidiary of Mitsubishi Heavy Industries Forklift, Engine & Turbocharger Holdings, Ltd. (M-FET), which itself is a wholly owned MHI Group company launched in March 2016. MHIET commenced commercial operations in July 2016, taking over MHI's engine and turbocharger businesses as well as operations involving the MGS Series and other diesel gensets.

    Going forward, MHIET will continue devoting its resources to promoting the adoption of even more efficient compact diesel power plants, as a way of contributing to economic development and more comfortable living in regions around the world where stable power supply is difficult and stand-alone power systems are necessary.

    http://www.acnnewswire.com/topimg/Low_MHIET83017Installation.jpg
    Installation work at site

    http://www.acnnewswire.com/topimg/Low_MHIET83017DieselEngine.jpg
    Diesel Engine Generator Set MGS1500C

    About Mitsubishi Heavy Industries, Ltd.

    Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, is one of the world's leading industrial firms with 80,000 group employees and annual consolidated revenues of around 38 billion U.S. dollars. For more than 130 years, the company has channeled big thinking into innovative and integrated solutions that move the world forward. MHI owns a unique business portfolio covering land, sea, sky and even space. MHI delivers innovative and integrated solutions across a wide range of industries from commercial aviation and transportation to power plants and gas turbines, and from machinery and infrastructure to integrated defense and space systems.
    For more information, please visit the MHI Group website: http://www.mhi-global.com.
    For Technology, Trends and Tangents, visit MHI's new online media SPECTRA: http://spectra.mhi.com.

    Contact:
    Joseph Hood, PR Manager Mitsubishi Heavy Industries, Ltd. Email: mhi-pr@mhi.co.jp Tel: +81-(0)3-6716-2168 Fax: +81-(0)3-6716-5860

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    HONG KONG, Aug 30, 2017 - (ACN Newswire) - Hua Hong Semiconductor Limited ("Hua Hong Semiconductor" or the "Company", together with its subsidiaries, the "Group"; stock code: 1347.HK), a global leading pure-play 200mm foundry, today announced its latest 95nm Single Gate embedded Non-volatile Memory (95nm 5V SG eNVM) process platform for the 8-bit microcontroller unit (MCU) market. The 95nm 5V SG eNVM process platform has gained customers' favour with its low-power/cost benefits while keeping a guarantee on product performance and reliability. The platform has been ramped up successfully, and has delivered outstanding product performance.

    In the era of connectivity, 8-bit MCUs are evolving constantly and shipments have been increasing. 8-bit MCUs are widely applied in fields such as industrial control, IoT, automotive, and consumer electronics. According to IHS' forecast, the 8-bit MCU market will continue its growth. By 2020, the global market size for 8-bit MCU will reach USD6.1 billion, and its demand will increase to nearly 17 billion units. Riding on this wave, Hua Hong Semiconductor launched its new 95nm 5V SG eNVM platform, a cost-effective process that helps improve customers' competiveness in the vast 8-bit MCU application market.

    With optimized cell structure and IP design, the 95nm 5V SG eNVM process enables smaller die size, lower write power (50uA/MHz), and a low static device power (Ioff) at 0.5pA. CPU core clock frequency can reach up to 50MHz, well accommodating the demands of 8-bit MCU applications. The single IP design combining the high performance of Electrically Erasable Programmable Read-Only Memory (EEPROM) and the small size of Flash can significantly reduce size and cost compared with the dual IP design. Moreover, a more competitive mask layer - with only 19 layers of mask for 3-layer metal, delivers obvious benefits in manufacturing cost. In terms of application, specifically for chips that have a larger analog circuit area, the 95nm 5V SG eNVM process from Hua Hong Semiconductor delivers great cost benefits, including guaranteed performance, high reliability, a data retention duration of more than 30 years, and the capability to endure more than 500,000 write/erase cycles.

    "Hua Hong Semiconductor strives to maintain its global competitive edge in the field of eNVM technology, and has achieved excellent results in the smart card and MCU markets in recent years," said Dr. Kong Weiran, Executive Vice President of Hua Hong Semiconductor. "Featuring security, reliability, and cost-effectiveness, the 95nm 5V SG eNVM launched by Hua Hong Semiconductor is the preferred process to win in the 8-bit MCU market. The Company has the differenciated eFlash/eEEPROM process platforms required by a variety MCUs, and is able to integrate its embedded memory with CMOS RF and/or high-voltage (HV) LDMOS technologies to significantly expand the number of available MCU solutions. In response to the market dynamics, Hua Hong Semiconductor will continue its technical innovations to provide customers with MCU solutions featuring lower power, higher performance, reliability and security at an excellent performance-price ratio."


    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Figure 1: Admissions decision using the rule (assignment 3 is optimal)
    Matched about 8,000 children in Saitama to daycare centers in just seconds

    TOKYO, Aug 30, 2017 - (JCN Newswire) - Fujitsu Limited, Fujitsu Laboratories Ltd., and the Fujitsu Social Mathematics Division of the Institute of Mathematics for Industry at Kyushu University(1) have developed an AI-based matching technology that uses game theory to automatically calculate an optimal matching of children to daycare centers. Using this technology, a complicated daycare admissions screening that had previously required several days by hand took only seconds.

    The admissions process of matching children to daycare centers seeks to fulfill as many of the applicants' preferences as possible based on complex requirements, including applicant priority criteria set by each local government and requests for siblings to be admitted to the same daycare center. This has made it difficult to automate the matching process in a way that would satisfy all applicants. As a result, many local governments have, until now, manually conducted trial and error to as much as possible accommodate preferences for siblings to attend the same daycare center, but this meant that seat assignment by the local government could take several weeks, requiring some time before the applicants could be notified of the results. There were also issues such as siblings being admitted to different daycare centers due to applicant preferences not being accepted.

    Now, this newly developed technology has made it possible to match children to daycare centers, meeting as many preferences as possible, following a priority ranking. This is done by modeling the dependency relationships of complex requirements, including parents who prioritize siblings going to the same daycare center, or parents who do not mind if their children go to different daycare centers as long as both children get a seat, using a mathematical model(2) based on game theory, which rationally resolves the relationships between people having differing values. When this technology was evaluated using anonymized data from about 8,000 children in the city of Saitama, it successfully calculated an optimal assignment result in just a few seconds.

    Fujitsu plans to offer this technology as an optional service for MICJET MISALIO Child-Rearing Support, a childcare support system for local governments, during fiscal 2017. The company will also work to apply this technology to a variety of matching problems as part of Fujitsu Human Centric AI Zinrai, Fujitsu's approach to artificial intelligence.

    Background

    In recent years, a number of measures have been undertaken to slow the declining birth rate in Japan, including enacting the "Act on Child and Childcare Support." Many issues still remain, however, in the childcare situation in many regions, such as the number of children waiting for places at daycare centers. One of these issues is the increasing complexity of daycare admissions screening due to the need to maintain fairness. This poses difficulties in the admissions screening, in which children are matched to a limited number of places while taking into consideration the various circumstances of each family, requiring a great deal of staff and time. There have also been many cases, depending on the local government, where the result of efforts to accommodate preferences was that siblings ended up in different daycares despite the results of numerous consultations. From the perspective of supporting working women, an important government policy, as well, handling the admissions assignment process quickly, carefully, and appropriately has become an urgent need in society.

    Issues

    When trying to incorporate complex requirements into admissions rules, such as parents who prioritize siblings going to the same daycare center, and parents who do not mind if siblings go to separate daycare centers but who will pull out if only one child gets a place, there are cases where either there are multiple matching patterns that satisfy all rules, or times when each matching pattern violates some rules. This makes it difficult to automatically select the matching pattern that satisfies applicants to the maximum extent possible.

    In Saitama, for example, to carefully handle the matching of applicants, the local government undertook their own admissions screening that considered sibling admissions as well as the timing of the siblings' admissions, the facilities they would be admitted to, their age, and their priority ranking. In order to match 7,959 children to 311 daycare centers while considering these complex requirements, however, the task required numerous days of work by 20 to 30 employees.

    About the Newly Developed Technology

    Fujitsu, Fujitsu Laboratories, and Kyushu University have now developed matching technology that can automatically determine the assignment pattern that will fulfill the preferences of as many applicants as possible, according to priority ranking, by creating a model of the relationships that meet the individual preferences of multiple applicants, in consideration of complex requirements that are determined by human trial and error. Game theory, which is used to create the model in this technology, is a mathematical approach that rationally handles conflicts and cooperation between people in society where interests are not necessarily aligned. Mathematical research based on the game theory is primarily ongoing in the field of economics. By applying this theory to the matching problem of daycare admissions, this technology successfully finds the optimal assignment pattern that prioritizes applicants having the highest priority, even in cases of multiple patterns that fulfill all rules, or no patterns fulfill all rules.

    As an example, one can consider assigning two sets of siblings (a total of four children) to two daycares (A and B) that can take two children each. Considering the number of seats in each daycare, there are six possible patterns (figure 1). In this example, the parents of each child have requested daycare A over daycare B, but have also expressed that they would prefer that both siblings go to daycare B rather than be split up. In this situation, the rule is to fulfil these preferences as much as possible in determining admission assignment while also respecting the priority ranking of the children.

    http://www.acnnewswire.com/topimg/Low_Fujitsu83017Figure1.jpg
    Figure 1: Admissions decision using the rule (assignment 3 is optimal)

    If the preferences for child 2, for example, cannot be met due to the preferences for child 1, who has higher priority, then that must be accepted, but if they cannot be met due to the preferences for child 3, who has lower priority, this would be a violation of the rule. In this way, it is necessary to check if the rule is being violated while considering both the priority of the children and their preferences. In addition, in cases where siblings have different priority rankings, there are cases where there may be multiple assignments that fulfill the rule. In this case, where seat assignments 3 and 4 both fulfill the rules, assignment 3 is considered optimal, because it can meet the preferences of child 1, who has the highest priority ranking.

    Figure 1 is a simple example, but as the number of daycares and children increase, the table can become massive. If five daycare preferences are listed for each of 8,000 children, there will be 5 to the power of 8000 possible combinations. Even using computers, it would be difficult to calculate each of those one by one in any realistic amount of time. In addition, even if an assignment that fulfilled the rules was found by devising the method in which possible assignments are checked, it would be difficult to guarantee an even better assignment was not possible.

    Now Fujitsu, Fujitsu Laboratories, and Kyushu University have developed technology in which, using a model based on game theory, the payoff (desirability) from an admissions assignment is converted to a score, and that score is used to find the optimal assignment pattern. This makes it possible to rapidly calculate the one assignment pattern that maximizes the scores for the applicants having highest priority.

    Effects

    This technology was evaluated using anonymized data for about 8,000 children in Saitama. The result was that this technology was able to calculate in just seconds seat assignments that fulfilled the complex and detailed requirements unique to Saitama, which had previously taken 20 to 30 people quite a few days. When this technology is commercialized, it is expected that it will not only dramatically reduce the burden of seat assignment tasks on local government personnel, it will also enable decision notifications to be sent to applicants earlier, improving services to residents. Moreover, it is expected that this will enable the process to incorporate more detailed requirements without increasing the amount of work or the chance of overlooking something, improving applicant satisfaction.

    Comment from Saitama City Government

    About the evaluation results:

    The trial results show that, with the imposition of multiple complicated elements, including priorities of children and preference patterns for siblings applying at the same time, this technology's accuracy was equivalent to manual admission screening in coordinating daycare facility usage (admissions allocation) for Saitama under the conditions given, and we can say these results can be accepted as being trustworthy and as close to perfect as possible.

    Expected effects going forward:

    We feel that the greatest effect of utilizing AI will be in the time reduction. Currently, the first round admissions screening for the April daycare usage applications for Saitama takes numerous days, but if assignment results can be obtained in seconds using AI, this could dramatically reduce the burden on our employees. In addition, by settling the results as early as possible, applicants can be notified of the results more quickly than they are now, leading to a smoother implementation of our plan to return women to the workplace.

    All told, by incorporating various requirements into the model, including household circumstances and the preferences of the parents or guardians, and migrating this process to AI, it will be possible to reflect the preferences of guardians in an even more detailed way than present, which is expected to contribute to improved resident satisfaction by resolving the problem of children waiting for places. We look forward to the full-fledged deployment of this technology with anticipation.

    Future Plans

    By the end of this fiscal year, Fujitsu plans to offer this technology as an optional service in its MICJET MISALIO Child-Rearing Support module, a childcare support system for local governments.

    In addition, as part of its Fujitsu Human Centric AI Zinrai artificial intelligence technology, Fujitsu will aim to adopt this technology beyond daycare admissions, to encompass a variety of matching applications, such as the fair matching of personnel deployments within an organization and employee schedule matching.

    (1) Fujitsu Social Mathematics Division of the Institute of Mathematics for Industry at Kyushu University
    Institute of Mathematics for Industry: Asia's first mathematics research center focused on industrial technology. In addition to carrying out mathematical theory research for industry, it also contains the Laboratory of Advanced Software in Mathematics, which implements and publishes theories as software. Fujitsu Social Mathematics Division: A mathematical technology research and development unit aimed at resolving social issues, established in September 2014, as part of the Institute of Mathematics for Industry by Kyushu University, Fujitsu Limited, and Fujitsu Laboratories Ltd.
    (2) Modeling....using a mathematical model
    This research was partially supported by JST PRESTO Grant Number JPMJPR14E1, Japan.

    About Fujitsu Laboratories

    Founded in 1968 as a wholly owned subsidiary of Fujitsu Limited, Fujitsu Laboratories Ltd. is one of the premier research centers in the world. With a global network of laboratories in Japan, China, the United States and Europe, the organization conducts a wide range of basic and applied research in the areas of Next-generation Services, Computer Servers, Networks, Electronic Devices and Advanced Materials. For more information, please see: http://www.fujitsu.com/jp/group/labs/en/.

    About Kyushu University

    Since its foundation in 1911, Kyushu University has become one of the leading universities in Japan. The University is comprised of 11 undergraduate schools, 18 graduate schools, 17 faculties, 5 research institutes, a University hospital, and a University library, as well as over 50 affiliated research centers. Empowered by our 100-years of tradition and experience, we are keen and ready to tackle whatever challenges we must face. For more information, please see: http://www.kyushu-u.ac.jp/english/index.php.

    About Fujitsu Ltd

    Fujitsu is the leading Japanese information and communication technology (ICT) company, offering a full range of technology products, solutions, and services. Approximately 155,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.5 trillion yen (US$40 billion) for the fiscal year ended March 31, 2017. For more information, please see http://www.fujitsu.com.

    * Please see this press release, with images, at:
    http://www.fujitsu.com/global/about/resources/news/press-releases/

    Contact:
    Fujitsu Laboratories Ltd Artificial Intelligence Laboratory E-mail: fsmjru@ml.labs.fujitsu.com Kyushu University Institute of Mathematics for Industry E-mail: jimu@math.kyushu-u.ac.jp

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    Continues to Diversify Product Mix and Expand Coverage of Health Business Segment

    HONG KONG, Aug 30, 2017 - (ACN Newswire) - Kingworld Medicines Group Limited ("Kingworld Medicines" or the "Group", stock code: 1110), a distributor of renowned branded imported pharmaceutical and healthcare products in the PRC, has announced its unaudited interim results for the six months ended 30 June 2017(the "Period").

    During the period, benefiting from the increase in sales of its core products including Nin Jiom Chuan Bei Pei Pa Koa and Nin Jiom Chuan Bei Pei Pa Candies series and Culturelle probiotic series, together with the Group continuously strengthened network expansion both online and offline, revenue increased by approximately 22.0% to RMB509.1 million and gross profit increased by 8.8% to RMB149 million. Profit attributable to owners of the company increased by 10.1% to approximately RMB22.1 million and basic earnings per share increased by 18.7% to approximately RMB3.56 cents. The board of directors of the Company did not recommend payment of an interim dividend for the six months ended 30 June 2017.

    Mr. Zhao Li Sheng , Chairman and Executive Director of Kingworld Medicines, said, "the rising healthcare awareness among the public and the change in spectrum of disease have led to an increasing attention to the healthcare industry. Meanwhile, factors such as the acceleration of urbanization across the world and the continuous improvement of healthcare system in different countries have shown a trend of continuous growth. Pharmaceutical industry is a strategic emerging industry in the PRC with promising future, and is also one of the focuses in the "Made in China 2025" initiative. With the PRC's unprecedented emphasis, the position of pharmaceutical industry has been strengthening continuously. These positive factors have brought more favourable opportunities to the development of Kingworld Medicines." During the period, the Group persistently deepened distribution network with diversity and enhanced brand influence. Thus, both sales revenue and profits of the Group increased."

    The Group is steadfastly executing the strategy of maintaining a diversified product mix, and managed a portfolio of over 60 branded products which are manufactured in different places in the world. Leading products include Nin Jiom Chuan Bei Pei Pa Koa and Nin Jiom Chuan Bei Pei Pa Candies; Taiko Seirogan; the "External Use Medication Categories," which includes Kingworld Imada Red Flower Oil, Flying Eagle Wood Lok Medicated Oil, Hoe Hin White Flower Embrocation and Mentholatum Ointment; and the "New Mother & Child Wellness Product" , such as the Culturelle probiotic series from the USA, BRAINSTRONG Prenatal DHA, FATBLASTER slimming coconut water from Australia, BLACKMORES fish oil, FUYUNHON body care products from Australia and Lifeline Care serial products of maternal and infant fish oil nutrients from Norway. Through developing diversified sales channels and platforms, the Group has consolidated its market share of products and achieved good sales growth. Among the different products, Nin Jiom Chuan Bei Pei Pa Koa remained to be the focus business of the Group, accounted for 42.6% of the total sales of the Group, while the Culturelle probiotic products from USA and Taiko Seirogan accounted for 19.8% and 9.6% respectively.

    During the period, the Group's business focus continued to be sales and marketing of Nin Jiom Chuan Bei Pei Pa Koa and Nin Jiom Chuan Bei Pei Pa Candies series. The Group strengthened cooperation with regional chains, reached young consumer groups using new media, held various public welfare activities such as campus singing contests and product tasting, in doing so consolidated restorative growth of sales in first and second tier cities and accelerated sales coverage in third and fourth tier cities in China, restored to normal supply of products to meet huge market demand, and all those efforts led to resumption of growth in product sales during the period.

    Regarding the Group's online and offline marketing strategy and adherence to the terminal market strategy, the Culturelle probiotic series from the USA became the second largest product series of the Group. During the period, sales of the Culturelle probiotic series approximately doubled as compared with the corresponding period last year. During the period, the Group further enhanced its products and sales networks, with 24 subsidiaries and 17 branch offices in 34 provincial administrative regions (Hong Kong and Macau), availing products to customers in more than 341 cities.

    As for Taiko Seirogan, the Group organized different charitable events and sales events during the review period to promote the product line to target consumers to enhance their recognition and influence of the brand. At the same time, by carrying out diversified on-site promotional campaigns, combined with donation of supplies and sponsorship of city marathon, community events, charitable events, etc., the Group developed and enhanced brand recognition of external use medicines such as Kingworld Imada Red Flower Oil, Flying Eagle Wood Lok

    Medicated Oil, Hoe Hin White Flower Embrocation and Mentholatum Ointment. During the period, sales of Taiko Seirogan surged by 71.9% as compared with the corresponding period last year, and the 100-pill package recorded a growth of 93.1% in sales revenue.

    The Group's other products such as "Maternal and child product series", FATBLASTER coconut water, BRAINSTRONG Prenatal DHA and FUYUNHON body care products, also recorded positive sales. Moreover, thanks to effective marketing and promotion and product operation strategies, rapid sales growth was achieved for Lifeline Care fish oil nutrients from Norway, of which the Group secured the exclusive agency right in Greater China last year. Brand promotion efforts and interactive consumer activities mounted during the reporting period boosted sales of the Group's new product Hoe Hin White Flower Embrocation, with sales up by 54.7% as compared with the corresponding period last year. The latest addition has enhanced the External Use Medication Series that included such as Kingworld Imada Red Flower Oil and Flying Eagle Wood Lok Medicated Oil, boosting the Group's product combination and giving consumers more choices of health brands.

    In recent years, the global pharmaceutical industry has been booming at the support of national policy and advancing Internet technology changing consumption habits. In China, for example, the Internet+ pharmaceutical industry and cross-border e-commerce platforms have grown rapidly and consistently. Boasting a diverse health products portfolio, an expanding online sales network, and strengthened control and sales promotion efforts, sales of the cross-border e-commerce business increased by 92.4% during the period under review. The Group commenced the development of new Qianhai cross-border e-commerce platform during the period and will launch the Qianhai cross-border e-commerce platform for Kingworld Health Family products in the future.

    For the six months ended 30 June 2017, the business and revenue of experienced steady growth and for over two years the results undertaking as agreed by the Group and Dong Di Xin.About the Group's acquisition in 2015 of equity interest of Dong Hua Tong Investments Limited at a consideration of HK50.0 million to hold indirect interest in Miquel Alimentacio (a leading corporation in Spain in food distribution and wholesale, brand operation and management of supply chain) and Manassen Foods Australia (a large food company). The projects operated smoothly during the period under review. Furthermore, other investment projects of the Group made good progress during the period, helping the Group enrich its investment portfolio, expanding revenue sources and achieving the goals of its multi-domain operations strategy.

    Looking ahead, capitalising on its rich supplier resources overseas and strong distribution and promotion capabilities in the Greater China region, the Group will continue to accelerate procurement and development of quality new products and advance business development to consolidate its advantageous position in the macro-health segment. Also, it will continue to carry out the strategy of integrated operation and regional market management to increase market penetration of its products. It will also optimise and integrate sales channels to promote growth of both its traditional products and new health products. In addition, the Group will continue to push forward with investment and M&A projects guided by its macro-health concept and forge closer strategic cooperation with associated companies.

    Mr. Zhao Li Sheng said, "The first half year marked the kick off the Group's "fourth five-year strategy," to help the Group perfect its industrial layout, optimise channel management and boost sales, in particular, speed up omni-channel layout and sales of new products in the Culturelle probiotics series. The Group will strengthen internal data establishment, commence a data platform management model and continue to build a self-operated e-commerce platform to meet the increasing demand of e-commerce business. On top of developing its business, the Group will also adhere to its 'to serve the community and to heal the souls' motto in promoting charity in China, helping to establish a 'Healthy China' by applying our strengths and taking actions and making everybody healthy."



    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    July 2017 Results
    Year to Date (January 1 to July 31, 2017)
    Toyota City, Japan, Aug 30, 2017 - (JCN Newswire) - Toyota Motor Corporation (TMC) announces its production, domestic sales, and export results for July 2017, including those for subsidiaries Daihatsu Motor Co., Ltd., and Hino Motors, Ltd.

    July 2017 Results
    http://www.acnnewswire.com/topimg/Low_ToyotaJuly2017Results.jpg

    July 2017 Key Points (year-on-year)

    Production in Japan

    Toyota
    - Decreased

    Daihatsu
    - Fifteenth consecutive month of increase

    Hino
    - First increase in three months

    Toyota + Daihatsu + Hino
    - First decrease in four months

    Sales in Japan

    Toyota
    - First decrease in nine months
    - Lexus vehicle sales totaled 2,815 units (31.4 percent decrease)
    - Minivehicle sales totaled 2,831 units (12.9 percent increase)
    - 47.7 percent share of market excluding minivehicles (4.8 percentage point decrease)
    - 31.7 percent share of market including minivehicles (4.5 percentage point decrease)

    Daihatsu
    - Fourth consecutive month of increase
    - Minivehicle sales totaled approximately 51,000 units (8.1 percent increase); fourth consecutive month of increase
    - 34.3 percent share of minivehicle market (1.0 percentage point decrease)

    Hino
    - First increase in four months
    - Standard truck sales totaled approximately 3,000 units (21.5 percent increase); 38.5 percent share of the truck(1) market (5.0 percentage point increase)

    Toyota + Daihatsu + Hino
    - First decrease in nine months
    - 45.5 percent share of market including minivehicles (3.3 percentage point decrease)

    Exports

    Toyota
    - First decrease in four months; due to decreased exports to Latin America, Europe, Oceania, and Africa

    Daihatsu
    - There were no exports for Daihatsu.

    Hino
    - First increase in ten months; due to increased exports to North America, Latin America, Europe, Asia, and Oceania

    Toyota + Daihatsu + Hino
    - First decrease in four months

    Production Outside of Japan

    Toyota
    - Decreased; due to decreased production in North America, Australia, and Africa

    Daihatsu
    - First increase in two months; due to increased production in Indonesia

    Hino
    - First increase in two months; due to increased production in Asia

    Toyota + Daihatsu + Hino
    - First increase in two months

    Year to Date (January 1 to July 31, 2017)
    http://www.acnnewswire.com/topimg/Low_ToyotaJanuarytoJuly2017.jpg

    (1) Maximum loading capacity of four tons or more (excluding imported trucks)

    About Toyota

    Supported by people around the world, Toyota Motor Corporation (TSE: 7203; NYSE: TM), has endeavored since its establishment in 1937 to serve society by creating better products. As of the end of December 2013, Toyota conducts its business worldwide with 52 overseas manufacturing companies in 27 countries and regions. Toyota's vehicles are sold in more than 170 countries and regions. For more information, please visit www.toyota-global.com.

    Contact:
    Public Affairs Division Global Communications Department Toyota Motor Corporation Tel: +81-3-3817-9926

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    TOKYO, Aug 30, 2017 - (JCN Newswire) - Honda Motor Co., Ltd. today announced a summary of automobile production, Japan domestic sales, and export results for the month of July 2017.

    Worldwide Production
    http://www.acnnewswire.com/topimg/Low_Honda83017WProd.jpg

    Production Outside of Japan
    http://www.acnnewswire.com/topimg/Low_Honda83017ProdOutJap.jpg

    Production in Japan for the month of July 2017 experienced a year-on-year decrease for the first time in four months (since March 2017).

    Production in regions outside of Japan experienced a year-on-year increase for the third consecutive month (since May 2017), setting record high production for the month of July. This includes record high production for the month of July in Asia and China.

    Worldwide production experienced a year-on-year increase for the third consecutive month (since May 2017), also setting record high production for the month of July.

    Sales in the Japanese Market
    http://www.acnnewswire.com/topimg/Low_Honda83017SalesJap.jpg

    Total domestic automobile sales in the Japanese market for the month of July 2017 experienced a year-on-year increase for the first time in three months (since April 2017).

    New vehicle registrations experienced a year-on-year increase for the first time in three months (since April 2017).

    Sales of mini-vehicles experienced a year-on-year increase for the third consecutive month (since May 2017).

    Vehicle registrations - excluding mini-vehicles

    FIT was the industry's fourth best-selling car among new vehicle registrations for the month of July 2017 with sales of 11,908 units. FREED was the industry's eighth best-selling car with sales of 7,396 units.

    Mini-vehicles - under 660cc

    N-BOX was the industry's top-selling car in the mini-vehicle category for the month of July 2017 with sales of 14,504 units.

    Exports from Japan
    http://www.acnnewswire.com/topimg/Low_Honda83017ExportsJap.jpg

    Total exports from Japan in July 2017 experienced a year-on-year decrease for the second consecutive month (since June 2017).

    About Honda

    Honda Motor Co., Ltd. (TSE:7267/NYSE:HMC/LSE:HNDA) is one of the leading manufacturers of automobiles and power products and the largest manufacture of motorcycles in the world. Honda has always sought to provide genuine satisfaction to people worldwide. The result is more than 120 manufacturing facilities in 30 countries worldwide, producing a wide range of products, including motorcycles, ATVs, generators, marine engines, lawn and garden equipment and automobiles that bring the company into contact with over 19 million customers annually. For more information, please visit http://world.honda.com.

    Contact:
    Honda Media Inquiries corporate_pr@hm.honda.co.jp +81-3-5412-1512

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Maintains industry leading position with revenue surges by 31.3% YoY

    HONG KONG, Aug 30, 2017 - (ACN Newswire) - China Logistics Property Holdings Co., Ltd ("CNLP" or the "Company", together with its subsidiaries, the "Group", Stock code: 1589), a leading provider of premium logistics facilities in China, today announced its unaudited interim results for the six months ended 30 June 2017 ( "Reporting Period").

    Highlights:
    - Revenue totalled RMB166.1 million, up 31.3% YoY
    - Gross profit reached RMB105.7 million, up 19.3% YoY
    - Net profit attributable to shareholders surged to RMB428.7 million
    - Total asset totalled RMB16.1 billion
    - Approximately 3.1 million sq.m. of GFA of in operation and under construction
    - Approximately 3.8 million sq.m. of land bank

    Financial Highlights
    During the Reporting Period, the Company enjoyed growing momentum as it actively expanded its business presence to capture increasing demands from tenants in e-commerce and third-party logistic providers industries. Benefitting from the increasing number of the Group's logistic parks in operation and the aggregate gross floor area ("GFA"), revenue increased from RMB126.4 million the same period last year to RMB166.1 million for the first-half of 2017, representing a significant rise of 31.3% compared with the same period last year. Gross profit increased from RMB88.6 million the same period last year to RMB105.7 million, a growth of 19.3% compared with the same period last year. Total asset totalled RMB16.1 billion, and net profit attributable to shareholders was RMB428.7 million.

    The Group seeks to diversify its sources of capital, including without limitation, offshore and onshore debt securities, equity or equity-linked securities and onshore and offshore loans, as well as soliciting investments from limited partners through investment fund structure. In August 2017, the Group successfully issued senior notes in the aggregate principal amount of US$100,000,000, bearing interest at a rate of 8% per annum and due in August 2020. The proceeds from the issuance will be used to repay existing offshore indebtedness and for general corporate purposes. On 24 July 2017, the Group and Total Superb Investment Limited ("Total Superb") entered into a share purchase agreement to sell in aggregate 100% shareholding interest in Yupei East China Logistics Property Management Co., Ltd at the consideration of US$131,428,946.00 in cash to the latter. Total Superb further agreed to render to Shanghai Yuji Investment Management Consulting Company Limited (an indirect wholly-owned subsidiary of the Company, "Shanghai Yuji Investment") a discharge amount of RMB 14,037,469.50 in cash, for a loan owed to the Group by Shanghai Yuji Investment.

    Business Development
    Over recent years, thanks to the growing demand for logistic services, Chinese logistic facilities market has witnessed sustained and rapid development, but the amount and quality were far lower than that of the developed markets. Across the industry, the demand of premium logistic facilities leasing market in China continued to maintain a strong momentum, third-party logistic and e-commerce still took a leading position in the leasing market, surpassing the traditional retail sector. The demand for modern logistic solutions has been propelled by this large-scale and highly-efficient transportation of goods. For the overall supply and demand relation, there were still some over-demand circumstances in Chinese premium logistic facilities market, driving a steady growth in rental prices. The Group has continued to strengthen its nationwide network of logistic facilities by developing its land held for future development and acquiring new land for investment projects, identifying new investment projects and selectively acquiring existing logistic facilities. As of 30 June 2017, the Group had 116 logistic facilities in operation in 24 logistic parks, located in logistic hubs in 13 provinces or centrally administered municipalities. The Group has approximately 3.1 million sq.m. of GFA of logistic parks in operation and under construction, and approximately 3.8 million sq.m. of land bank.

    CNLP will continue to leverage the strong network effect of its logistic facilities portfolio to attract existing and prospective tenants, fill up vacancies at its logistic facilities in a timely and efficient manner, and optimize tenant portfolio, so as to expand its national footprint in China. As of 25 August 2017, the Group's occupancy rate for stabilized logistic parks increased to 88.5%, which reached the Company's expectation.

    Mr. Li Shifa, Chairman and President of CNLP, said, "During the second half of 2017, the Group will continue its efforts to achieve its goal to develop into the largest provider of premium logistic facilities in China and maintaining its leading position. In addition to expediting the development and construction of logistic facilities, and promoting leasing to meet the market's huge demand, we will also seek to diversify our sources of capital, and to improve gearing ratio. The Group will continue to recruit both domestic and international talents, in order to create a well-rounded work force with a diversity of backgrounds. Last but not least, we will strive to reduce environmental impact on operations, promoting environmental sustainability."

    About China Logistics Property Holdings Co., Ltd.
    CNLP was one of the first pioneering entrants into China's logistic facilities market with an undivided focus on China. The Group offers three types of logistic facilities that catering to the specific needs of tenants, including standardized logistic facilities, BTS logistic facilities and sale-and-leaseback logistic facilities. With future economic growth in China expected to be driven by consumption and as urbanization and e-commerce emerge as dominant economic growth drivers, supply shortages of logistic facilities will continue resulting good development prospects for the Group. Established in 2003, the group began to develop, operate and manage grade A logistic facilities, which has gradually developed a highly efficient and rewarding business model based on 15 years of experience. CNLP is also the strategic partner of private equities RRJ Capitals & US Carlyle group in China, and with strong tenants relationship with top-tier Chinese and overseas companies, including leading e-commerce like Jingdong, Cainiao and Benlai Life, leading third-party logistic service providers like SF-express, Li & Fung and Sinotrans, and other large retailers or manufacturers such as Xiaomi, Bosch etc. As of June 30, 2017, a total GFA of 4 million sq.m. national A-grade logistic facility combos were in operation, under construction or planning across 24 provinces or centrally administrated municiplies. The wide geographic coverage and A-grade quality induce a strong networking for its tenants to expand their business within CNLP's facilities or network. CNLP was listed on the Hong Kong stock exchange on July 15, 2016.



    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    HONG KONG, Aug 30, 2017 - (ACN Newswire) - A pioneer integrated service developer in planning, investment development and operation of large-scale industrial towns in China, China VAST Industrial Urban Development Company Limited ("China VAST" or the "Group," Stock code: 6166) announced its unaudited interim results for the six months ended 30 June 2017. Profit attributable to owners of the Company surged 142.4% to RMB493.3 million.

    - Revenue increases 11.5% to RMB1,399.3 million
    - Gross profit soars 94.1% to RMB922.4 million; gross profit margin rises substantially from 37.9% for the same period in 2016 to 65.9%, mainly due to generally higher gross profit margin of land development projects for sale when compared with the sale of properties and land preparation and investment services
    - Profit attributable to owners of the Company surges 142.4% to RMB493.3 million
    - In the second half year, apart from focusing on developing Longhe Park, the Group will commence foundation works of other projects and construction of three projects namely Yulong Bay Phase II, Foxconn City Phase III and Hongtai Commercial Plaza

    For the six months ended 30 June 2017, the Group's revenue totaled RMB1,399.3 million, representing an increase of 11.5% when compared with revenue of RMB1,255.3 million for the same period in 2016. During the period, more than 90% of revenue was contributed from land development projects for sale, which generally have a higher gross profit margin than sales of properties and land preparation and investment services. As a result, the Group's gross profit for the period jumped 94.1% to RMB922.4 million, with gross profit margin rising sharply from 37.9% for the same period in 2016 to 65.9%. Profit attributable to owners of the Company soared 142.4% from RMB203.5 million for the six months ended 30 June 2016, increased by RMB289.8 million.

    For the six months ended 30 June 2017, basic earnings per share were RMB0.30 (2016 interim: RMB0.12), and diluted earnings per share were RMB0.26 (2016 interim: RMB0.12).

    The Board has resolved to not declare any interim dividend for the six months ended 30 June 2017.

    Mr. Wang Jianjun, Board Chairman of China VAST, said, "This year is the third anniversary of China VAST's listing on the Main Board of The Stock Exchange of Hong Kong Limited. Over the past three years, with aggressive advancements made in the Group's business development and our accelerated strategic presence in industrial towns, new growth drivers have emerged. We have focused on coordinating developments in the Beijing-Tianjin-Hebei region and supporting the national strategy for Yangtze River Delta Economic Zone. We have actively cooperated with local governments in our focus regions to develop industrial town projects and have targeted enterprises among seven industries, namely, aviation and aerospace, big health, new energy materials, internet and electronic information, high-end equipment manufacturing, biopharmaceutical, and culture and tourism. From our relentless efforts, China VAST has achieved satisfactory results in the first half year, marking the Group entry into a rapid development path."

    Business Review
    Industrial Town Development
    For the six months ended 30 June 2017, the Group recorded fee income of RMB1,286.6 million from land development projects for sale, representing an increase of RMB694.6 million when compared with RMB592.0 million for the same period last year.

    China VAST currently provides planning, development and/or operation services in 10 industrial town projects, consisting of (i) Longhe Park; (ii) Longhe Resort; (iii) Guangyang Technology Regeneration Park; and (iv) Yongqing Vast Industrial Town Park, all of which are located in Langfang, Hebei Province; (v) VAST Zhangjiakou City New Industrial Park; and (vi) Zhangjiakou Modern Industrial Park, all of which are located in Zhangjiakou City, Hebei Province; (vii) Shijiazhuang General Aviation Industrial Town Park; and (viii) Shijiazhuang Gaocheng Vast Insudatrial Town Park, all of which are located in Shijiazhung City, Hebei Province; (ix) Chuzhou Park in Chuzhou, Anhui Province; and (x) VAST Ezhou Industrial Park in Ezhou City, Hubei Province. After over 10 years of development, Longhe Park is progressing towards its maturity in a fast development stage. The remaining nine projects are in the early stage of planning and development. However, with the improvement and betterment of the terms of cooperation agreements signed between the Company and local governments, some of the Group's cooperation agreements enable it to record revenue in the early stage of development, thus providing support for development projects on a rolling basis.

    For the six months ended 30 June 2017, the fee income from the development of industrial town projects in Longhe Park amounted to RMB979.9 million. The relevant local governments sold an aggregate of 354,805 sq. m. of land in Longhe Park for a total sum of RMB1,778.3 million. The land area sold and land premium were significantly higher than those for the same period last year (same period in 2016: an aggregate of 30,015 sq. m. of land sold for RMB54.8 million). During the period, the income from land preparation and investment services generated by Shijiazhuang General Aviation Industrial Town Park and Shijiazhuang Gaocheng Vast Insudatrial Town Park was RMB182.7 million and RMB124.0 million respectively (calculated by cost plus method).

    Property Development
    As at 30 June 2017, the Group's revenue from the sale of properties was RMB97.1 million (2016: RMB655.6 million), mainly due to a decrease in the area of properties delivered. Gross floor area ("GFA") sold totaled 13,275 sq. m., and the average selling price ("ASP") was RMB8,449 per sq. m. The Group had 20 projects at various stages of development, including residential, commercial and industrial projects, as well as a land reserve of GFA of 1,440,850 sq. m..

    Property Leasing
    As at 30 June 2017, the Group's revenue from property leasing amounted to RMB15.5 million (2016: RMB7.7 million). The Group had seven completed investment properties. In the future, the Group will consider the synergies created by the development of its real estate-related business in determining the input of resources to the leasing business.

    Looking ahead, and with respect to the development of industrial town projects, apart from focusing on developing Longhe Park, the Group will continue to commence foundation work of other projects in the second half of 2017. It has confidence in executing this year's development plan and revenue proposal as laid out by the management of the Company at the beginning of the year. As for property development, the Group intends to commence construction of three projects, including Yulong Bay Phase II, Foxconn City Phase III and Hongtai Commercial Plaza, in the second half of 2017. The income from the sale of properties for the second half of 2017 is expected to be derived mainly from sales carried forward from four projects, including Hongtai Longdi, Hongtai Meishuguan, Yulong Bay and Electronic Information Industrial Park.

    Mr. Wang concluded, "In the future, the Group will continue to vigorously seek in-depth cooperation opportunities with different segments of society, including governments, industry associations and enterprises, and will capitalize on industrial towns that promote sustainable economic and social development of the region. The Group will seize business opportunities arising from the coordinated development of the Beijing-Tianjin-Beijing region, Yangtze River Economic Zone and the national 'Belt and Road' strategy, and capitalize on our advantage as a listed company benefitting from state policies, in a bid to develop the Group into a leading integrated developer of industrial towns in China and generate more promising returns for our shareholders."

    China VAST Industrial Urban Development Company Limited (Stock code: 6166)
    Founded in June 1995, China VAST Industrial Urban Development Company Limited is one of the pioneer providers in the planning, development and operation of large-scale industrial town projects. Riding on its experience in property development accumulated in the initial stage, China VAST Development transformed into a pioneer in new urbanization construction in 2005. The Company has been committed to develop large scale industrial town projects in the strategic planning areas under the integration of Beijing-Tianjin-Hebei coordinated development and the Yangtze River Delta Economic Zone development, demonstrating its four comparative advantages including: unique abilities in industrial town planning, design and positioning, infrastructure investment and construction, marketing and promotion, and related auxiliary facilities for logistics, residential and commercial properties. Through cooperation with local governments under long-term agreements, unlike other ordinary property developers, industrial towns are designed to provide a wide spectrum of comprehensive and professional services for regional industrial development and development, including planning and design, industry positioning, land preparation, infrastructure construction, marketing and promotion and related auxiliary facilities for logistics, residential and commercial properties.

    Currently, China VAST Development is working together with local governments of Langfang, Zhangjiakou and Shijiazhuang of Hebei province, Chuzhou, Anhui province and Ezhou, Hubei province in respect of development of ten industrial town projects with project planning areas of approximately 150 sq.km. Focusing on the optimization of infrastructures in the abovementioned regions, transformation of industry and construction of urbanization as well as building and realizing fully integration of working and living communities for its residents, China VAST Development is sparing no effort to become a leading integrated developer and operator of industrial towns in China.



    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    TOKYO, Aug 31, 2017 - (ACN Newswire) - UNIQLO today announces that it will launch the Fall/Winter 2017 Uniqlo U collection at stores around Japan and through the uniqlo.com online store from Friday, September 29. This is the third Uniqlo U collection from the design team at the UNIQLO Paris R&D Center, led by Artistic Director, Christophe Lemaire. The new range stems from a drive to make clothing an ideal expression of its wearer, taking LifeWear toward the future through design, pattern, fabric development, and stitching innovations as part of a commitment to reinventing wardrobe basics.

    The full collection will be available at 62 UNIQLO stores and online in 19 countries and territories. All domestic stores will sell parts of the range. The line will comprise 46 women's and 27 men's items in S through XXL sizes, as well as 11 accessories. XL through XXL pieces will be available only online.

    Enhancing fit and comfort with 3D U-Knit
    The new collection features items created with 3D U-Knit, a three-dimensional knitting technique that employs WHOLEGARMENT technology to enhance fit and comfort. 3D U-Knit is developed at Innovation Factory, a joint venture that UNIQLO's parent company, Fast Retailing, established in 2016 with Shima Seiki Mfg., Ltd., a leading Japanese manufacturer of knitting machines. WHOLEGARMENT uses special machines to produce knitwear three-dimensionally in one entire piece, eliminating seams. Another advantage of this technology is that it is so flexible, empowering designers to perfectly materialize their visions.

    3D U-Knit is the first stage in the UNIQLO quest to redefine quality knitwear. While WHOLEGARMENT has primarily been the domain of knitwear from fashion houses, employing this technology will help UNIQLO to offer unprecedented refinement at prices that are affordable for all. For this season, three dresses, one women's sweater, and one skirt have been created with this technique. A highlight of that range is a 3D Merino Ribbed Mock Neck Dress. The ribbing of this fit and flare piece accentuates natural femininity by following body contours. The skirt offers delightfully pleated drapes for a sophisticated and elegant look.

    Coat and jacket range brimming with features and new ideas
    Noteworthy additions to the Uniqlo U lineup this season are a women's BLOCKTECH trench coat, men's BLOCKTECH coat, and a men's BLOCKTECH mods coat. This stylish town wear combines a matte cotton surface with advanced BLOCKTECH technology that has become so popular with UNIQLO sportswear for outstanding wind proofing, waterproofing, and breathability.

    Also debuting this season are men's and women's seamless down track jackets that incorporate new technology developed with Toray. The outer fabric employs double-weave polyester, reducing the number of stitches for outstanding wind proofing. The lightness and streamlined fit of this outerwear enables it to double as innerwear. Women's items can also serve as vests by unzipping the sleeves.

    Pricing (in Japan, excluding consumption tax) *
    - Outerwear 5,990 - 14,900 yen
    - Pants 3,990 - 5,990 yen
    - Skirts 2,990 - 5,990 yen
    - Shirts 2,990 - 5,990 yen
    - Cut & Sewn items 1,000 - 4,990 yen
    - Knits 2,990 - 5,990 yen
    - Dresses 4,990 - 5,990 yen
    - Socks 590 yen
    - Shoes 3,990 - 4,990 yen
    - Bags 1,990 - 3,990 yen
    - Accessories 1,500 - 1,990 yen
    *Pricing is subject to change. Visit the following website for details: www.uniqlo.com/UniqloU

    Images for the Uniqlo U Fall/Winter 2017 collection
    https://www.acnnewswire.com/topimg/Low_17FW_UniqloU.jpg

    Download link for 17FW Uniqlo U logo, product photos, and collection images.
    https://pd.fastretailing.com/access?key=6gOrgm_vYDR2yejBbxek4A


    About the UNIQLO Paris R&D Center
    This facility complements UNIQLO's other research and development units in Tokyo, Shanghai, New York, and Los Angeles. These centers gather information on local fashion trends, lifestyles, and new materials and innovate for product development, concepts, and designs. The world-class designers and pattern makers in the Paris design team contribute significantly to the ongoing evolution of LifeWear through their advances with Uniqlo U.

    About Christophe Lemaire
    1965 Born in France
    1991 Established his own brand
    2000 Appointed Artistic Director at Lacoste
    2007 Opened a boutique in Paris and re-launched his own brand
    2011 Appointed Women's Artistic Director at Hermes
    2016 Appointed Artistic Director of UNIQLO Paris R&D Center


    About UNIQLO LifeWear
    Apparel that comes from the Japanese values of simplicity, quality and longevity. Designed to be of the time and for the time, LifeWear is made with such modern elegance that it becomes the building blocks of each individual's style. A perfect shirt that is always being made more perfect. The simplest design hiding the most thoughtful and modern details. The best in fit and fabric made to be affordable and accessible to all. LifeWear is clothing that is constantly being innovated, bringing more warmth, more lightness, better design, and better comfort to people's lives.

    About UNIQLO and Fast Retailing
    UNIQLO is a brand of Fast Retailing Co., Ltd., a leading global Japanese retail holding company that designs, manufactures and sells clothing under seven main brands: Comptoir des Cotonniers, GU, Helmut Lang, J Brand, Princesse tam.tam, Theory, and UNIQLO. With global sales of approximately 1.7864 trillion yen for the 2016 fiscal year ending August 31, 2016 (US $17.31 billion, calculated in yen using the end of August 2016 rate of $1 = 103.2 yen), Fast Retailing is one of the world's largest apparel retail companies, and UNIQLO is Japan's leading specialty retailer.

    UNIQLO continues to open large-scale stores in some of the world's most important cities and locations, as part of its ongoing efforts to solidify its status as a truly global brand. Today the company has around 1,800 stores in 18 markets worldwide including Japan, Australia, Belgium, Canada, China, France, Germany, Hong Kong, Indonesia, Malaysia, Philippines, Russia, Singapore, South Korea, Taiwan, Thailand, U.K. and the U.S. In addition, Grameen UNIQLO, a social business established in Bangladesh in September 2010, currently operates several Grameen UNIQLO stores in Dhaka. UNIQLO manages an integrated business model under which it designs, manufactures, markets and sells high-quality, casual apparel. The company believes that truly great clothes should be supremely comfortable, feature universal designs, are of high quality and offer a superb fit to everyone who wears them.

    With a corporate statement committed to changing clothes, changing conventional wisdom and change the world, Fast Retailing is dedicated to creating great clothing with new and unique value to enrich the lives of people everywhere. For more information about UNIQLO and Fast Retailing, please visit www.uniqlo.com and www.fastretailing.com.

    For media queries, please contact:
    UNIQLO Global PR
    Hoyu Sha or Megumi Endo
    Tel. +81 3 6865 0600

    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Optimized Business Model Innovation and Efficiency with Net Profit Increased by 17.3% to RMB1294.1 million

    HONG KONG, Aug 31, 2017 - (ACN Newswire) - China Development Bank Financial Leasing Co., Ltd ("CDB Leasing" or the "Company", stock code: 1606) is pleased to announce the unaudited consolidated interim results of the Company and its subsidiaries (collectively, the "Group") for the six months ended June 30, 2017 ("the Period").

    Financial Highlights:
    - total revenue of the Group amounted to RMB5,777.8 million, increased by 8.6% as compared with the same period of last year
    - Net profit increased by17.3% to RMB1294.1 million
    - Profit before income tax amounted to RMB1599.5million,increased by 20.4% as compared with the same period of last year
    - Non-performing asset ratio of the Group was 1.11%, lower than that of the same period of last year

    During the Period, due to the addition of leased assets due to new businesses in the second half of 2016 and the first half of 2017, and the overall income level of the business remained stable, the Group recorded total revenue of RMB5777.8 million, representing an increase of 8.6% as compared with the same period of last year; profit before income tax of the Group amounted to RMB1,599.5 million, representing an increase of 20.4% as compared with RMB1,328.6 million for the same period of last year. Net profit of the Group achieved satisfactory growth and amounted to RMB1,294.1 million, representing an increase of 17.3% as compared with the same period of last year. The Group enhanced its professionalism in various business areas including aircraft, shipping, construction machinery and vehicles, and new energy. The business of infrastructure sector was further consolidated. The total lease financing to lessees for the first half of 2017 amounted to RMB20,066 million, representing the highest level since the year of 2013. China Development Bank Aviation Financial Leasing Company Limited, our subsidiary, was officially incorporated in Dublin on June 23, 2017, which indicated the completion of the international team building of our aviation business. The financial leasing project of eight large ore carriers (Very Large Ore Carrier, our VLOC) with Fortescue Metals Group was awarded the "Annual Transaction Award" issued by Marine Money. At the meantime, the Group expanded urban infrastructure leasing business and new energy leasing projects in several cities. During the Period, the Group paid great attention to project risk from the very beginning and established a special department which was responsible for the implementation of various works such as collection, elimination, disposal and sale of non-performing assets. The above-mentioned risk control measures achieved positive effects after the implementation. As of June 30, 2017, the non-performing asset ratio of the Group was 1.11%, slightly lower than that of the same period of last year.

    Mr. Fan Xun, Vice Chairman of the Board, Executive Director and President of CDB Leasing, said, "In the first half of 2017, encountering with the intricate trend of the macro-economy, the Group actively tackled with both internal and external severe and complicated situation, further improved its system and mechanism to facilitate the development of collectivized organization structure, made great efforts on business development, optimized business layout and improved risks prevention and control, achieving good operating results."

    As with aircraft leasing segment, the total assets of the Aircraft Leasing segment of the Group amounted to RMB62,957.7 million and the total revenue and other income of the Aircraft Leasing segment amounted to RMB3,022.9 million, representing an increase of 7.5% compared to the same period last year. In the first half of 2017, the Group continued to expand its aircraft portfolio, business scale and client network while enhancing its trading capability and the industry experience of its staff. During the Period, the Group delivered 18 aircraft with a portfolio of 311 aircraft, consisting of 197 owned aircraft, 13 managed aircraft and 101 committed aircraft, with committed aircraft comprised of 94 direct orders out of which manufacturers and seven committed sale-and-leaseback transactions.

    As with infrastructure leasing segment, during the period, total revenue and other income of this segment amounted to RMB2,025.1 million, representing a year-on-year growth of 17.5%. As being one of the core business segments of the Group, the Group put greater efforts on the development of new infrastructure leasing and developed its business focusing on clients from China Development Bank's clients and government clients through business referral and strategic cooperation agreements. Meanwhile, as of June 30, 2017, there were no non-performing assets in the Infrastructure Leasing segment of the Group.

    As with ship, commercial vehicle and construction machinery leasing segment, the Group focused on optimizing its business mix, carrying out business model innovation, selecting quality leased assets and offering lease financing to high quality customers. Total revenue and other income of Ship, Commercial Vehicle and Construction Machinery Leasing segment amounted to RMB513.9 million, which decreased by 7.2% as compared to that of the same period of last year. The annualized return on segmental total assets before tax was 2.15%, improving the profitability of this segment significantly as compared to that of 2016.

    As with other leasing segment, the Group actively controlled the growth in scale of the Other Leasing Business segment, actively prevented and mitigated operational risks in the Other Leasing Business segment, and achieved satisfactory results. The annualized return on segmental total assets before tax witnessed improvement in yield as compared to that of 2016.

    Looking ahead, Mr. Fan Xun said, In the second half of 2017, the domestic economy in the PRC will encounter with a number of positive factors, such as the improvement on external environment and stability, and the implementation of national strategies including "Belt and Road Initiative", Xiong'an New Area and Guangdong-Hong Kong-Macao Greater Bay Area which will bring us a lot of opportunities along with the promotion of economic restructuring and development, but at the same time, the domestic economy is also facing challenges of various risks with certain uncertainties. The Group will expand its business in a steady pace and enhance its level of professional development. Based on the positioning of our business, the Company will take the initiative to focus on certain industrial departments and major clients, follow policy direction and make efforts to enlarge the scope and extent of the assessment and work involvement of project development. Through effective risk management and control and strict defense of the risk bottom line, the Company comprehensively pushes forward the establishment of risk management system in every aspect of business development, assessment, internal control and compliance. The Group will optimize the balance of assets and liabilities, and thoroughly promote cost reduction and efficiency improvement, primarily to enhance the revenue level, expand the revenue source and financing channels, as well as continue to reasonably reduce unnecessary expenses and costs. In addition, the Group will strengthen its infrastructure so as to enhance the capability and the level of operating management.

    About China Development Bank Financial Leasing Co., Ltd.
    Founded in 1984, China Development Bank Financial Leasing Co., Ltd. ("CDB Leasing") was one of the first leasing companies in the PRC and one of the first CBRC-regulated leasing companies. CDB Leasing is the sole leasing business platform and one of the key strategic business segments of CDB, dedicated to providing comprehensive leasing services to high-quality customers. Being a pioneer and a leader in the PRC leasing industry, CDB Leasing established prudent and robust internal control and risk management systems, and CDB Leasing's business segments are Aircraft Leasing, Infrastructure Leasing, Ship, Commercial Vehicle and Construction Machinery Leasing and Other Leasing Business. According to Frost & Sullivan, CDB Leasing was the largest CBRC-regulated leasing company in the PRC in terms of total revenue in 2013, 2014 and 2015, respectively. The Company successfully listed on the main board of HKEX on July 11th 2016.


    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    TOKYO, Aug 31, 2017 - (JCN Newswire) - July 2017 Summary:

    Domestic Production
    - Second consecutive monthly year-on-year increase since May, 2017 ( 110.5% year-on-year )

    Overseas Production
    - Second consecutive monthly year-on-year increase since May, 2017 ( 127.5% year-on-year )

    Total Production
    - Second consecutive monthly year-on-year increase since May, 2017( 119.0% year-on-year )

    Domestic Sales
    - Third consecutive monthly year-on-year increase since April, 2017 ( 111.2% year-on-year )

    Exports
    - Fifteenth consecutive monthly year-on-year decrease since April, 2016( 83.7% year-on-year )

    Supplemental Information

    Overseas Production

    Asia
    - 51,308 units: 126.8% year-on-year

    Exports

    Asia
    - 2,128 units: 87.4% year-on-year

    North America
    - 8,176 units: 97.1% year-on-year

    Europe
    - 8,916 units: 83.9% year-on-year

    About Mitsubishi Motors

    Mitsubishi Motors Corporation is the fifth largest automaker in Japan and the fifteenth largest in the world by global unit sales. It is part of the Mitsubishi keiretsu, formerly the biggest industrial group in Japan, and was formed in 1970 from the automotive division of Mitsubishi Heavy Industries.

    Throughout its history it has courted alliances with foreign partners, a strategy pioneered by their first president Tomio Kubo to encourage expansion, and continued by his successors. A significant stake was sold to Chrysler Corporation in 1971 which it held for 22 years, while DaimlerChrysler was a controlling shareholder between 2000 and 2005. Long term joint manufacturing and technology licencing deals with the Hyundai Motor Company in South Korea and Proton in Malaysia were also forged, while in Europe the company co-owned the largest automobile manufacturing plant in the Netherlands with Volvo for ten years in the 1990s, before taking sole ownership in 2001.

    Contact:
    Mitsubishi Motors Public Relations Department http://www.mitsubishi-motors.com +81-3-6852-4275

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    N-BOX and N-BOX Custom
    TOKYO, Aug 31, 2017 - (JCN Newswire) - Honda Motor Co., Ltd. will begin sales in Japan of the all-new N-BOX mini-vehicle on Friday, September 1, 2017.

    Under the concept of "for the happiness of families in Japan," Honda developed this all-new N-BOX with the goal of setting a new standard for family-type cars. While carrying forward key N-BOX features such as a spacious cabin and exterior design with a strong sense of presence, which have been well received by many customers, a platform and powertrain were newly-developed for this all-new N-BOX. Excellent driving performance, fuel economy and occupant comfort were realized by reducing vehicle weight by approximately 80 kg even after installing enhanced safety features and other outstanding functions such as the newly-adopted Super Slide front passenger seat.

    Moreover, the all-new N-BOX adopts the Honda SENSING suite of advanced safety and driver-assistive technologies, including a newly-added function to prevent false backward starts. The all-new N-BOX became the first among all Honda mini-vehicles to feature Honda SENSING as standard equipment on all types(1)..

    Starting with this all-new N-BOX, Honda will begin evolving the advertising campaign with a new tagline, "N for Life" which represents a message of "enjoyable lives with N (Honda N Series)." Moreover, Honda will evolve the "N for Life Space," a special exhibition event where visitors can see the all-new N-BOX and experience the concept of "N for Life." Starting on Friday, September 1, 2017, the "N for Life Space" will tour seven major cities across Japan. Honda will strive to offer "enjoyable lives with N" through all of the N Series models.

    http://www.acnnewswire.com/topimg/Low_Honda83117NBOX.jpg
    N-BOX and N-BOX Custom

    Sales plan (in Japan, monthly, series total): 15,000 units

    Manufacturer's Suggested Retail Price (in Japan):

    N-BOX
    http://www.acnnewswire.com/topimg/Low_Honda83117PriceNBOX.jpg

    N-BOX Custom
    http://www.acnnewswire.com/topimg/Low_Honda83117PriceNBOXCustom.jpg

    Body colors:

    N-BOX

    - Premium White Pearl II(2)
    - Luna Silver Metallic
    - Crystal Black Pearl
    - Premium Pink Pearl(2)
    - Premium Ivory Pearl(2)
    - Premium Agate Brown Pearl(2)
    - Premium Yellow Pearl II(2)
    - Brilliant Sporty Blue Metallic
    - Morning Mist Blue Metallic
    - British Green Pearl

    Two-tone color

    - Premium Pink Pearl & White(4)(5)
    - Premium Agate Brown Pearl & White(4)(5)
    - Premium Yellow Pearl II & White(4)(5)
    - Premium Ivory Pearl & Brown(4)(5)

    N-BOX Custom

    - Premium White Pearl II(2)
    - Luna Silver Metallic
    - Shining Gray Metallic
    - Crystal Black Pearl
    - Premium Glamorous Bronze Pearl(2)
    - Brilliant Sporty Blue Metallic
    - Premium Velvet Purple Pearl(2)

    Two-tone color

    - Premium White Pearl II & Black(4)
    - Milano Red & Black(3)
    - Brilliant Sporty Blue Metallic & Black(3)
    - Premium Glamorous Bronze Pearl & Silver(4)
    - Crystal Black Pearl & Red(3)

    Key features of the all-new N-BOX

    Design:

    Featuring a highly-sophisticated and high-quality design while maintaining the established image of N-BOX
    - While carrying forward the appealing features of the first-generation N-BOX such as a sense of vehicle class which goes beyond the expectation for mini-vehicles and spaciousness, sophistication and high quality were pursued in every detail such as the adoption of LED headlights for all types as standard equipment and the adoption of laser brazing technology to join the roof and body side panels. As for the interior, N-BOX features beige as base color to create a relaxing space as if occupants are spending time at a cafe. The N-BOX Custom features black as base color to express a high-quality and fascinating interior space.

    Driving experience:

    Realizing excellent driving performance, fuel economy and occupant comfort with a lightweight body and new technologies including a newly-designed powertrain
    - In addition to the increased application of a high-efficiency floor frame and high-tensile steel plate, the adoption of a new joining technique enabled vehicle weight reduction and increased rigidity at the same time. As for the powertrain, for the first time among mini-vehicles(6), i-VTEC was adopted for a naturally-aspirated engine and an electric wastegate was applied to a turbo engine. Moreover, advancements were made in various areas including the enhanced performance of the CVT and suspension system and improved frontal visibility through adoption of ultrathin front pillars. These advancements led to the realization of a driving experience that enables occupants to feel secure, excellent fuel economy and occupant comfort.

    Safety:

    Featuring Honda SENSING as standard equipment for all types/Adopting Honda's first false backward start prevention function
    - The all-new N-BOX became the first mini-vehicle to adopt the Honda SENSING suite of advanced safety and driver-assistive technologies. Auto High Beam headlights and Honda's first function to prevent false backward starts were newly added to the eight basic functions of Honda SENSING. Honda SENSING is standard equipment on all types of the all-new N-BOX(1).

    Functions included in Honda SENSING for the all-new N-BOX:

    - Collision Mitigation Braking System (CMBS)
    - False Start Prevention
    - Pedestrian Collision Mitigation Steering System
    - Lead Car Departure Notification System
    - Traffic Sign Recognition
    - Road Departure Mitigation (RDM) System
    - Lane Keeping Assist System (LKAS)
    - Adaptive Cruise Control (ACC)
    - False Backward Start Prevention
    - Auto High Beam headlights

    Convenience:

    Featuring a spacious cabin and the Super Slide front passenger seat to bring about revolutionary user-friendliness
    - A spacious cabin which had already been a popular feature of the N-BOX was further expanded by making the engine room more compact and the tailgate thinner. By lowering the height of the tailgate opening, loading and unloading of large items such as bicycles is made easier. As for the seat arrangement, in addition to a version with a conventional bench seat, a version equipped with the Super Slide--front passenger seat as well as the version equipped with an aluminum slope(7) are available. The newly-adopted Super Slide--front passenger seat with the forward-backward sliding range of 570 mm makes it easer for the occupant to move between the back seats and the driver?s seat and enables versatile seating arrangements in combination with the sliding rear seats which are now standard equipment on the all-new N-BOX.

    Comfort:

    Comfort and cabin quietness beyond its class
    - The all-new N-BOX further enhanced its advanced features which create a comfortable environment inside the vehicle, including the Aller Clean(8) seat to which an antiviral treatment(9) was applied in addition to its function to inactivate allergens (such as ticks and cedar pollens)(10) which can cling to the surface of the seats. Moreover, the 360 degrees super UV/IR cut package is applied to all windows/glasses to reduce the amount of ultraviolet (UV) and infrared (IR) rays that reach the cabin. Furthermore, cabin quietness was improved thoroughly by adopting a high-performance engine mount system which suppresses vibration and noise at their source and also by realizing optimal placement of soundproofing and insulating materials.

    (1) A version without Honda SENSING is also available for each of following types: G-Honda SENSING, G-L Honda SENSING, G-EX Honda SENSING types of N-BOX and G-L Honda SENSING and G-EX Honda SENSING types of N-BOX Custom.
    (2) 32,400 yen (30,000 yen excluding consumption tax) extra charge
    (3) 59,400 yen (55,000 yen excluding consumption tax) extra charge
    (4) 81,000 yen (75,000 yen excluding consumption tax) extra charge
    (5) Not available for G・Honda SENSING type.
    (6) Honda internal research as of August 2017
    (7) Scheduled to go on sale in spring 2018
    (8) Standard equipment on G-L Turbo Honda SENSING, G-EX Honda SENSING, G-EX Turbo Honda SENSING types of N-BOX and G-L Turbo Honda SENSING, G-EX Honda SENSING, G-EX Turbo Honda SENSING types of N-BOX Custom
    (9) This antiviral treatment is not applied for the purpose of treating/preventing any disease or suppressing virus activities.Testing method used: ISO18184 (Textiles-Determination of antiviral activity of textile products) (with viral strain of ATCC VR-1679 (with envelope))
    (10) Aller Clean seat inactivates 94.3% of tick allergen, 82% of cedar pollen allergen. Measured by Honda.

    About Honda

    Honda Motor Co., Ltd. (TSE:7267/NYSE:HMC/LSE:HNDA) is one of the leading manufacturers of automobiles and power products and the largest manufacture of motorcycles in the world. Honda has always sought to provide genuine satisfaction to people worldwide. The result is more than 120 manufacturing facilities in 30 countries worldwide, producing a wide range of products, including motorcycles, ATVs, generators, marine engines, lawn and garden equipment and automobiles that bring the company into contact with over 19 million customers annually. For more information, please visit http://world.honda.com.

    Contact:
    Honda Media Inquiries corporate_pr@hm.honda.co.jp +81-3-5412-1512

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    SDK Group Strengthens Its Supply System in Western Japan

    TOKYO, Aug 31, 2017 - (JCN Newswire) - Showa Denko Gas Products Co., Ltd. (SGP), a consolidated subsidiary of Showa Denko ("SDK"; TSE:4004) headquartered in Kawasaki City, Kanagawa Prefecture, has decided to found a new plant to produce liquefied carbon dioxide (CO2) gas in Showa Denko's Oita Petrochemical Complex located in Oita City, Oita Prefecture. SDK and SGP plan to make the new plant utilize stable CO2 gas sources in the chemical plant of the Complex. The new plant is scheduled to be completed and start operation in August 2018, and will have annual production capacity of 15,000 tons. Foundation of the new plant will make SGP's liquefied CO2 gas production system to have two production bases in Kyushu region.

    CO2 gas and dry ice (solidified CO2) are used in many fields including beverage, food, and other manufacturing industries. Liquefied CO2 gas is made of CO2 gas generated as a by-product of oil-refining, steel-making and ammonia production processes. However, the scaling back of oil-refining and ammonia production processes in Japan has been resulting in reduction in sources of raw CO2 gas to produce liquefied CO2 gas. Thus a tight supply-demand situation for liquefied CO2 gas and dry ice is chronic.

    The Showa Denko Group produces and provides liquefied CO2 gas and dry ice at many production bases including Kawasaki Plant, which functions as the main base. To solve tight supply-demand situation and regional supply-demand imbalances concerning liquefied CO2 gas and dry ice, and to maintain stable supply of these products to our customers throughout the country, the Showa Denko Group has been increasing production of them at Kawasaki Plant, supplying them through long distance transportation, and importing dry ice even in off-peak seasons other than summer until now. However, substantial rises in transportation and raw material costs are problems to be solved as soon as possible.

    Since further reduction in sources of raw CO2 gas is foreseen, the supply-demand situation for liquefied CO2 gas and dry ice is expected to be even tighter in the future. To cope with these problems and maintain stable supply of liquefied CO2 gas and dry ice to our customers in Kyushu, Chugoku, and Shikoku regions, SDK and SGP decided to found the new base to produce liquefied CO2 gas in the Showa Denko Group's Oita Petrochemical Complex. Taking advantage of the strengthened supply system, SDK and SGP will cope with changes in the supply-demand balances of liquefied CO2 gas and dry ice in a flexible and timely manner, while having due regard to further expansion of the Group's capacity to produce these products in the future.

    In our ongoing medium-term business plan, "Project 2020+," we position our industrial gases business including CO2 gas and dry ice business as "Base-shaping" business. The Showa Denko Group will further strengthen the basis of our industrial gases business through various measures including development of new uses in the fields of foods, agriculture, and civil engineering.

    About Showa Denko K.K.

    Showa Denko K.K. ("SDK"; TSE:4004, US:SHWDF) is a major manufacturer and marketer of chemical products serving a wide range of fields ranging from heavy industry to the electronic and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial and high-performance gases and chemicals and high-purity gases and chemicals for the semiconductor industry, and the Inorganics Sector provides ceramics products such as alumina, abrasive, refractory and graphite electrodes and fine carbon products. Today, the Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.

    Contact:
    Public Relations Office Phone: 81-3-5470-3235

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Core Net Profit Surges by 18.0% to RMB176.5 Million, with Core Net Profit Margin Achieving at 69.3%;
    Further Expands School Network and Size of Student Enrollment to Tap the Private Formal Higher Education Market


    HONG KONG, Aug 31, 2017 - (ACN Newswire) - Minsheng Education Group Company Limited ("Minsheng Education" or the "Group," Stock code: 1569) has announced its unaudited interim results for the six months ended 30 June 2017 ("Period under Review").

    Financial Highlights

    - Revenue increased by 4.9% to RMB254.6 million (1H 2016: RMB242.8 million)
    - Gross profit grew by 7.7% to RMB166.1 million (1H 2016: RMB154.3 million). Gross profit margin improved to 65.2% (1H 2016: 63.5%)
    - Core net profit increased by 18.0% to RMB176.5 million (1H 2016: RMB149.5 million) . Core net profit margin increased to 69.3% (1H 2016: 61.6%)
    - Net profit increased by 7.7% to RMB161.1 million (1H 2016: RMB149.5 million)
    - Basic earnings per share were RMB4.52 cents (1H 2016: RMB4.62 cents)

    Minsheng Education recorded a revenue of RMB254.6 million for the six months ended 30 June 2017, increasing by approximately 4.9% when compared to the corresponding period of the previous year. Gross profit rose by 7.7% to approximately RMB166.1 million, with gross profit margin up by 1.7 percentage points to approximately 65.2%, mainly due to the increase in student enrollment and school utilisation rate. Net profit was approximately RMB161.1 million, rising by 7.7% compared to the corresponding period of the previous year. Excluding the listing expenses, the core net profit surged by 18.0% to RMB176.5 million as core net profit margin grew by 7.7 percentage points to 69.3%. Basic earnings per share amounted to RMB4.52 cents. The Board does not recommend an interim dividend for the six months ended 30 June 2017.

    Mr. Li Xuechun, Chairman of Minsheng Education, said, "The listing of Minsheng Education marked the beginning of a new era for us. In our efforts to achieve business growth, we plan to further expand our school network through acquiring existing schools and establishing new schools. The Group will capitalise on our strengths and continue to identify suitable acquisition opportunities to solidify our position as one of the largest private provider of formal higher education in China and to generate better income, thus enhancing the value of the Group and creating higher returns for shareholders in the long run."

    Business Review

    Strong School Network and Synergies Created with Overseas Schools
    The Group had an aggregate of 32,515 students enrolled at the schools that it owned and operated as at 30 June 2017, namely Chongqing College of Humanities, Science and Technology, Pass College of Chongqing Technology and Business University, Chongqing Vocational College of Applied Technology and Inner Mongolia Fengzhou Vocational College (Qingcheng Branch) (collectively the "Schools"). Besides, Laoling Minsheng Secondary Vocational School, the fifth school of the Group, is expected to enroll its first batch of students in September 2018. In addition, the Group has begun cooperation with the People's Government of Laoling and Bureau of Education of Laoling whereby Laoling Secondary Vocational and Technical School is to be managed and operated by Laoling Minsheng Secondary Vocational School under an entrustment management arrangement.

    As for the overseas market, the Group has invested in Beacon International College PTE. LTD. in Singapore and Hong Kong Nang Yan College of Higher Education Limited in Hong Kong in order to introduce advanced curricula and innovative teaching methods into its schools in the PRC to bolster its education quality and reputation, and to create more learning exchange opportunities for its students in the PRC.

    Enhancing Teaching Quality
    As at 30 June 2017, the number of school teachers has increased by approximately 147, of which, the number of teachers having graduate qualification or above increased by approximately 57 and the number of teachers holding deputy senior title or above increased by approximately 37. At the same time, the Group has recruited more experienced personnel in various positions.

    The Group has implemented a job competition mechanism for mid-level management staff in its Pass College of Chongqing Technology and Business University and Chongqing Vocational College of Applied Technology.

    Upgrading Teaching Facilities
    The Group has further improved the teaching conditions in 2017. Chongqing College of Humanities, Science and Technology has recently built the Innovation and Entrepreneurship College and the Innovation and Entrepreneurship Training Base; Chongqing College of Humanities, Science and Technology and Chongqing Vocational College of Applied Technology have refurbished their stadiums, student apartments in Pass College of Chongqing Technology and Business University and Chongqing Vocational College of Applied Technology have configured new facilities, and Shandong Laoling Minsheng Secondary Vocational School has finished the new campus planning, and has started the basic construction.

    Outlook

    China's economy is likely to maintain steady growth in the next decade. The attention to children's education by Chinese households, support from the PRC central and local governments, and greater investment in private education for all of Chinese society are likely to drive the expansion of China's private formal higher education market.

    Minsheng Education continues to focus on providing high-quality private formal higher education in China dedicated to nurturing professional talent. In addition, the Group attributes the relatively high initial graduate employment rates to the effectiveness of its education, which it believes will continue to elevate its brand recognition and attract talented students.

    Expand School Numbers and Network Internationally
    Going forward, the Group will expand its school numbers and student sizes through mergers and acquisitions and internal growth. It will explore the investment opportunities in independently organized ordinary undergraduate higher education institutions; independent colleges with preliminary conditions to be converted to independently organized ordinary undergraduate higher education institutions; higher vocational (junior) colleges with preliminary conditions to be upgraded to independently organized ordinary undergraduate higher education institutions; and specialized secondary colleges, such as colleges having medical major, arts specialised colleges, and aviation specialized colleges.

    As for internal growth, the Group will increase the student enrollment quota and new education projects. In July 2017, the Ministry of Education approved Pass College of Chongqing Technology and Business University for the first time to engage in providing higher education continuing education, three approved junior college majors, namely securities and futures, accounting and marketing in relation to higher education continuing education with student enrollment starting in 2017. It will also increase the educational training programs and more than 600 students have enrolled in the first phase in 2017. Moreover, tuition and accommodation fees will be increased appropriately. In 2017, it has raised the tuition fees for certain majors in its schools, and three schools in Chongqing are planning to raise student accommodation fees. In the second half of 2017, certain schools will also increase logistics service items. The Group strives to benefit from receiving the support under the government subsidy scheme. In July 2017, three schools in Chongqing have received an aggregate of approximately RMB47.5 million of per-student government subsidies.

    To expand the internationalised school operation, the Group will choose universities with both good brand name and good quality in Europe and the United States as its acquisition targets. It will set up a marketing department and an international college in each school to carry out a variety of models of cooperation in operating schools such as 2 + 2 and 3 + 1 programs and cooperate with famous international universities to carry out network teaching.

    Develop Intelligence Campuses
    The Group will gradually expand the teaching-by-network scope and together with its campuses achieve effective information management and services. Chongqing College of Humanities, Science and Technology has developed five network courses, and has already provided facilities for several thousands of students to study, and the number of network courses will gradually be expanded.

    To improve the centralised management, the Group's schools share courses with a high level of high-quality teacher resources and logistics supply, including the implementation of a unified tender and procurement for large amounts procurement, and for building construction, aimed at strengthening management.

    About Minsheng Education Group Company Limited (Stock code: 1569)
    Minsheng Education Group Company Limited has been listed on the Main Board of the Hong Kong Stock Exchange since 22 March 2017 and is one of the largest private providers of higher education in China. As at 30 June 2017, the Group operated four schools in the People's Republic of China (the "PRC"), namely Chongqing College of Humanities, Science and Technology, Pass College of Chongqing Technology and Business University, Chongqing Vocational College of Applied Technology and Inner Mongolia Fengzhou Vocational College (Qingcheng Branch). The Group has invested in Hong Kong Nang Yan College of Higher Education and Beacon International College in Singapore. In addition, the Group is establishing a new secondary vocational school and entrusted a public secondary vocational school in Shandong. The Group primarily offers formal higher education, including formal undergraduate education and junior college education. Minsheng Education is a constituent of the Hang Seng Composite Index and its subdivision of SmallCap Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng Stock Connect Hong Kong SmallCap Index and Hang Seng Consumer Goods & Services Index. For further details, please visit: http://www.minshengedu.com


    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    The Five Selected Companies
    Toyota City, Japan, Aug 31, 2017 - (JCN Newswire) - Toyota Motor Corporation (TMC) has concluded a selection process that started in December 2016 for the TOYOTA NEXT open innovation program. The following five companies have been selected to collaborate with Toyota in the program.

    The Five Selected Companies
    http://www.acnnewswire.com/topimg/Low_ToyotaSelectedCompanies.jpg

    TOYOTA NEXT is a program launched by Toyota to address the major challenges that Japan is expected to face in the future, including a low birth rate, an aging population, growing urban population density, and depopulation of rural areas. These challenges have led to an increase and diversification of customer needs, brought about by a rise in IT and technology, and the program aims to address the emergent variety of needs in a flexible and agile manner.

    The program is intended to promote joint development of new services by utilizing new ideas, technologies, and solutions initiated and driven by a wide range of organizations, including corporations, SMEs, startups, and research institutions. Toyota aims to work with TOYOTA NEXT partners to develop services that improve the user-friendliness of its customers' cars, make daily travel more convenient and comfortable, and help achieve a safer and more reliable mobility society. The program also aims to develop people-centered services to provide customers the experience of an exciting future to look forward to.

    During the selection process, Toyota received over 500 submissions on a broad range of ideas from innovative ones aimed at consumers to those leveraging Toyota's unique technological capabilities.

    The following five major factors were considered in the selection process:

    1) Ideas that solve issues faced by people and society
    2) Possession of sufficient technological, developmental, and service capabilities
    3) Enthusiasm to implement ideas
    4) Utilization of assets of both companies (Toyota and the selected company)
    5) Feasibility for both companies (Toyota and the selected company)

    Shuichi Murakami, a managing officer with Toyota, commented that, "We are grateful to be able to find new partners to help in developing new services. We will strive dutifully to realize these services and expect to learn much along the way."

    As the TOYOTA NEXT initiative moves forward, Toyota will have discussions with the selected companies on specific service content, a schedule for launch, in addition to details regarding capital arrangements and cooperation.

    Please refer to the following link for more details on TOYOTA NEXT:https://toyotanext.jp/en/

    About Toyota

    Supported by people around the world, Toyota Motor Corporation (TSE: 7203; NYSE: TM), has endeavored since its establishment in 1937 to serve society by creating better products. As of the end of December 2013, Toyota conducts its business worldwide with 52 overseas manufacturing companies in 27 countries and regions. Toyota's vehicles are sold in more than 170 countries and regions. For more information, please visit www.toyota-global.com.

    Contact:
    Public Affairs Division Global Communications Department Toyota Motor Corporation Tel: +81-3-3817-9926

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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