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ACN Newswire press release news - Recent Press Releases

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    Optimises Product and Sales Channels Consolidates "Healthy Sleeping Expert" Image

    HONG KONG, Mar 26, 2018 - (ACN Newswire) - Leading branded bedding products enterprise in the Greater China Region Casablanca Group Limited ("Casablanca" or "the Group") (stock code: 2223) today announced its annual results for the year ended 31 December 2017. During the year, the Group recorded revenue of approximately HK$347.4 million (2016: HK$356.7 million). Thanks to the revenue increase of the high-end CASA-V brand and effective cost control, profit for the year had a remarkable 240.9% increase from HK$7.9 million in the previous year to HK$27.0 million this year. Basic earnings per share grew from 3.1 HK cents in the previous year to 10.5 HK cents this year.

    During the year, the Group focused on enhancing its brand value and broadening revenue sources via pursuing business development, sales channel optimisation and product research and development. A series of products capable of repelling mosquitoes and insects, which promises customers a better environment for enjoying quality sleep, was added under the CASA-V brand, helping the Group strengthen its image as a "Healthy Sleeping Expert". At the same time, the Group stepped up developing the business customer market. Apart from providing organisations, such as hospitals, hotels and universities, bedding products made to satisfy their specific needs, the Group also continued to provide products to different commercial customers, such as banks, personal care chains and telecommunications network operators for gift redemption by their customers. At the beginning of 2018, the Group received purchase orders from government departments, which is expected to become a new business growth driver.

    With the gradual restructuring of its sales network in Mainland China completed, the Group saw its operational efficiency improve. During the year, the Group closed down some underperforming self-operated POS, while retaining and opening highly profitable POS at strategic locations, and as a result, its distribution costs came down. It also relocated its PRC sales headquarters from Shenzhen to Huizhou to consolidate operations, which allowed it to effectively trim operating costs.

    Mr. Cheng Sze Kin, Chairman of Casablanca, said, "Rising costs, tightening environmental requirements and flagging growth of traditional sales channels are some of many challenges faced by home textile enterprises in recent years. The Group, however, has not been deterred by those challenges and instead it insists on raising its corporate management capability, while pushing to broaden revenue sources and for better cost control. It has also strived to improve profitability by diversifying its business and upgrading products, and of such endeavors, supplying products to commercial customers for gift redemption in the first half year brought the most remarkable return, plus the improving consumption sentiment in Mainland China and Hong Kong, which enabled the Group to achieve satisfactory results for 2017, as it celebrates the advent of its 25th anniversary."

    Looking forward, the Group will, via a joint venture (51% owned by the Group) set up with a company in furniture manufacturing and sale in southern China, launch the "Healthy Lifestyle Store" business to provide bedding products, beds, sofas and kitchen cabinets, as well as customised furnishing service to mainland consumers with a taste for stylish living. Its aim is to stand out in the noisy home product market by offering a one-stop shopping experience to consumers.

    Regarding online sales, the Group is partnering with a team of experienced e-commerce professionals in the PRC to fine tune the setup of its mainland online sales operation. This effort plus the launch of its official Hong Kong eShop in recent months are expected to gradually see online sales contributing a bigger and bigger share of revenue to the total of the Group.

    Mr. Cheng Sze Tsan, Chief Executive Officer of Casablanca, concluded, "The Group is dedicated to providing consumers with quality and stylish bedding products with health-enhancing functions, hence it has never spared any effort in product and sales channel development. In 2018, the Group, in celebrating its 25th anniversary, will mount an array of publicity activities themed 'The Heritage of Italian Craftsmanship' to strengthen its 'Healthy Sleeping Expert' image. It will also further product diversification, introduce innovative products and tap new sales channels in its bid to achieve even more satisfactory business results."

    About Casablanca Group Limited (stock code: 2223)
    Casablanca mainly engages in the design, production, distribution and retailing of bedding products. As one of the leading branded bedding products enterprises in the Greater China Region, it boasts a number of own brands, such as Casablanca, Casa Calvin and CASA-V. Headquartered in Hong Kong, the Group is supported by an offline sales network made up of its own counters and brand outlets, and distributors and other POS in 73 cities in the Greater China Region. Through these offline sale channels, plus its Hong Kong official eShop and online sales provisions tailored for consumers in Mainland China, the Group provides customers with stylish bedding products of premium quality and with health-enhancing features.

    For press enquiries:
    Strategic Financial Relations Limited
    Vicky Lee (852) 2864 4834 vicky.lee@sprg.com.hk
    Phoebe Leung (852) 2114 4172 phoebe.leung@sprg.com.hk
    Alice Yip (852) 2864 4862 alice.yip@sprg.com.hk
    Website: www.sprg.com.hk



     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    TALLINN, Mar 26, 2018 - (ACN Newswire) - AdHive, an AI-powered platform for influencer marketing announces that it has successfully closed the $12M hard cap ahead of the open phase of its tokensale. The company's innovative approach to AI-automated and blockchain-backed native advertising attracted a total of 5,839 token purchasers through the presale and Phase 1 of the tokensale.

    AdHive

                                                 AdHive: World's first AI-controlled influencer marketing platform

    "The global influencer market, whilst rapidly developing and setting the standards for advertising industry, has also remained one of the slowest in adopting innovations and implementing new technologies. With our tokensale goal achieved it's now legit our community has tremendous faith in AdHive prospects. We are believed to be the best suited project to take on the challenge of revolutionising the industry," says Dmitry Malyanov, AdHive Co-founder.

    The project's token presale showed an impressive interest from the community and to ensure everyone's comfort, AdHive has introduced a deposit system for whitelisted members three days before the start of the tokensale. The company's intention was to avoid speed and price competition between potential buyers ("gas wars") and enable whitelist participants to buy tokens without having to catch the tokensale starting moment online. The system worked well and was warmly welcomed by AdHive's supporters.

    With its custom AI-powered ads mass-placement on influencer channels, AdHive allows advertisers to go global effortlessly, thus saving time and budget. It is also letting the bloggers to receive gradable rewards that are sensitive to particular blogger's rating and ranking. The campaigns are carried via smart contract logic embedded into the platform core.

    "We have already reached an agreement on ADH token listing with HitBTC, a fast-growing top-15 exchange, and are currently working to get the token listed with other leading crypto exchanges. In accordance with our roadmap, AdHive team will now focus on further development of the platform and its functionality. We will be strengthening our relations with influencers community and expanding our regional representation with offices in the United States and South Korea," adds Alexandr Kuzmin, AdHive Co-founder.

    ADH tokens will be delivered to the tokensale purchasers' ERC20-compatible wallets following the KYC procedures completion. The company is currently evaluating different option for distribution of tokens and listing timing in order to achieve maximum effect both for token holders and advertisers.

    CONTACT:
    Katalis Digital for Adhive
    +852 6712 2863
    pr@katalisdigital.com


    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Global Energy Program Attracted 515 Applications from 65 Countries

    TOKYO, Mar 27, 2018 - (JCN Newswire) - Free Electrons, the first global energy startup accelerator program that connects the world's most promising energy startup companies with leading utility companies, has selected its second cohort to participate in the 2018 program.

    Offering solutions from across the energy spectrum including IoT & digitization, smart grids, clean energy, E-mobility, energy management and energy efficiency, the 30 startups chosen are:

    - Adaptricity                        Switzerland            Smart Grids
    - CHAKRATEC                          Israel                 E-mobility
    - Clevericiti Systems GmbH           Germany                IoT & Digitization
    - ElectrIQ Power, Inc.               United States          Energy Management
    - EQuota Energy                      China                  Smart Grids
    - Fresh Energy                       Germany                Customer Solutions
    - greenbird Integration Technology   Norway                 IoT & Digitization
    - GreenPocket                        Germany                Energy Management
    - GridCure                           United States          Smart Grids
    - GridWatch MAC Ltd                  Ireland                Smart Grids
    - Howz                               United Kingdom         Business Model Innovation
    - Hygge Power                        United States          Energy Efficiency
    - Jungle AI                          Portugal               IoT & Digitization
    - Kisensum, Inc.                     United States          Smart Grids
    - loqr                               Portugal               IoT & Digitization
    - Lumenaza                           Germany                Energy Management
    - Manetos Labs AB                    Sweden                 IoT & Digitization
    - ME SOLshare Ltd                    Bangladesh             Smart Grids
    - MEAZON                             Greece                 IoT & Digitization
    - Nnergix                            Spain                  Smart Grids
    - Orison                             United States          Smart Grids
    - RayGen Resources                   Australia              Clean Energy
    - Relectrify                         Australia              Clean Energy
    - Smart IoT                          UAE                    IoT & Digitization
    - SmartGreenCharge                   France                 Clean Energy
    - Spark Horizon                      France                 E-mobility
    - Sterblue                           France                 Energy Efficiency
    - Verv Energy                        United Kingdom         IoT & Digitization
    - VoltStorage                        Germany                Clean Energy
    - Wattwatchers                       Australia              IoT & Digitization
    
    "The companies selected represent a highly diverse list of applicants. It was not easy to choose 30 from among 515 applicants. The number of submissions and successful candidates is an indicator of their overall quality. We are looking for innovative solutions that can be adopted and integrated in our companies, helping to shape the future of the energy sector", says Hirokazu Yamaguchi, Executive General Manager, Global Innovation & Investments at Tokyo Electric Power Company Holdings (TEPCO).

    Program participants will now work closely with local players, utilities, mentors and other resources to accelerate their growth, starting with a one-week "bootcamp" in Lisbon (Portugal). 3 subsequent modules will take place in Sydney/Melbourne (Australia), the Silicon Valley (USA), and the final stage in Berlin (Germany).

    Free Electrons utility members are American Electric Power (USA) Ausnet Services (Australia), DEWA (Dubai), EDP (Portugal), ESB (Ireland), Innogy (Germany), Origin Energy (Australia), SP Group (Singapore) and TEPCO (Japan), with the program being supported by Beta-i (Portugal).

    Free Electrons is building an international, advanced accelerator program focused on startups that have already raised money, created a working prototype, and earned a few battle scars along the way: www.freetheelectron.com.

    About TEPCO

    Tokyo Electric Power Company Holdings, Inc. (TSE: 9501), headquartered in Tokyo, Japan, is the largest utility in Japan serving millions of homes and businesses. Worldwide the company has more than 34 subsidiaries and 32 affiliates in 8 countries and employs approximately 42,060 people. Consolidated revenue for the fiscal year ending March 31, 2017, totaled 5.3 trillion Japanese yen. The company was established in 1951 and is listed on the First Section of the Tokyo Stock Exchange. For more information visit http://www.tepco.co.jp/en/index-e.html

     
    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    HONG KONG, Mar 27, 2018 - (ACN Newswire) - Sunlight (1977) Holdings Limited ("Sunlight" or the "Group"), a leading tissue products supplier for corporate customers in Singapore, announced the details of its proposed listing of shares on GEM of SEHK under the stock code 8451.

    Highlights
    - Established in 1977, having around 40 years of presence in the tissue products industry, Sunlight is the 5th largest tissue products supplier in the overall tissue products market in Singapore in terms of sales revenue and the second largest tissue products supplier in the tissue products market for corporate customers in Singapore with sales revenue# reaching approximately S$12.3 million in 2016, claiming an approximately 11.7% market share*
    - It operates its own conversion facilities for producing jumbo roll tissues, and it is the first and only jumbo roll tissue converter in Singapore*
    - Its major customers include subsidiaries of listed companies, such as (i) a Fortune 500 company, which is the leading global developer of integrated resorts and casino operator; (ii) City Developments Limited, an international real estate operating company with global presence, and one of Singapore's largest companies by market capitalisation, and (iii) UEM Edgenta Berhad, a leader in total asset solutions
    - Sunlight plans to continue to grow its business by expanding its product portfolio to cover more tissue and hygiene-related products and extending its presence in the tissue products industry for corporate customers in ASEAN countries
    # Revenue for the year ended 30 September 2016
    * Source: CIC Report

    Offering Details
    The Group intends to offer for subscription or for sale, as the case may be, an aggregate of initially 200,000,000 Shares of nominal value of HK$0.01 per Share in the share capital of the Company ("Offer Shares") by way of Public Offer and Placing in connection with the proposed listing of the Shares on GEM of SEHK. The indicative offer price range is between HK$0.25 and HK$0.30 per Share. After deducting underwriting fees and estimated expenses in connection with the Share Offer, assuming an Offer Price of HK$0.275 per Share (being the mid-point of the indicative Offer Price range of HK$0.25 to HK$0.30 per Share), the net proceeds which the Group will receive from the Share Offer is estimated at approximately HK$30.0 million.

    The Public Offer will commence at 9:00 a.m. on 27 March 2018 (Tuesday) and end at 12:00 noon on 3 April 2018 (Tuesday). The final offer price and the allotment results are expected to be announced on or before 13 April 2018 (Friday). Trading of shares is expected to commence on the SEHK on 16 April 2018 (Monday) under the stock code 8451 and board lots of 10,000 Shares each.

    Giraffe Capital Limited is the Sole Sponsor, and Pacific Foundation Securities Limited, Ruibang Securities Limited and Aristo Securities Limited are the Joint Bookrunners and Joint Lead Managers of the listing.

    Corporate Highlights
    A leading tissue products supplier for corporate customers in Singapore with a long history of operation and strong brand recognition
    Established in 1977, having around 40 years of presence in the tissue products industry, the Group provides comprehensive services to its customers, from advising customers on the types and specifications of tissue products, to sourcing suitable products, conducting quality control, delivering to customers through its fleet of delivery trucks and providing after-sales services. Building on its long history and in-depth knowledge of the industry, the Group has established a strong reputation in the tissue products market for corporate customers in Singapore and was the second largest tissue products supplier in that market in terms of sales revenue, claiming an approximately 11.7% market share in 2016, according to the CIC Report.

    Reliable and stable supply of consistent quality products to customers
    In order to provide a reliable and stable supply of products to customers, the Group has implemented internal policies to maintain a healthy inventory, and it has its own conversion facilities in Singapore for producing jumbo roll tissues, which allow it to accommodate unexpected increases in orders and/or urgent orders with ease. The Group's in-house logistics team helps to ensure timely delivery of purchase orders as well. Further, the Group visits its key suppliers and tissue paper mills that provide its raw materials regularly to ensure consistent quality of its products.

    Has a portfolio of diverse tissue products and other related products to meet customer needs
    Sunlight offers an extensive range of tissue products such as toilet tissues, hand towels, napkins and facial tissues, and other related products such as hygiene-related products and tissue dispensers. For each product category, it also offers different choices or combination of product choices to customers. The Group has the ability and flexibility to offer customised and diverse products, hence is apt in satisfying the multiple needs of large customers and the specific requirements of customers in different industries. Such capabilities explain the high customer loyalty the Group enjoys and equips it well for its continuous success.

    Has a broad customer base and well-established long-term relationships with major customers
    During the Track Record Period, the Group had long term relationships with major customers lasting between two and more than 20 years. Those major customers included subsidiaries of listed companies. In particular, the Group has a relationship of over 20 years with a subsidiary of City Developments Limited, and a relationship of approximately seven years with a subsidiary of a Fortune 500 company. Having well-established, stable and long-term business relationships with major customers from different industries have enabled the Group to capture growth opportunities in those industries, grow a stable customer base and boost its revenue stream.

    An experienced and committed management team
    The Group's management team comprises highly experienced professionals in the tissue products industry. The team possesses in-depth knowledge and experience critical to the Group's success in the tissue products industry for corporate customers. It is capable of seizing market opportunities, formulating sound business strategies, assessing and managing risks and implementing management schemes, so as to help the Group maximise shareholder value.

    Future Development Strategies
    With Singapore's well-developed infrastructure and active public support for health and sanitation, which encourage the use of tissue products in public places, the consumption value of tissue products in Singapore is expected to continue to grow steadily at a CAGR of 3.5% between 2016 and 2021, reaching SGD198.1 million, and the total consumption value of tissue products for corporate customers to account for over 59% of the entire market by 2021. The consumption value of tissue products by corporate customers will continue to grow at a CAGR of 3.8% in the period to reach SGD117.0 million.

    In addition, driven by continuous economic and business development in ASEAN leading to higher awareness of hygiene which in turn leads to increased usage of tissue products, the consumption value of tissue products by corporate customers in ASEAN is likely to continue to expand rapidly, reaching USD515.3 million between 2016 and 2021 at a CAGR of 5.3%. To capture more market share, enhance competitiveness and reduce procurement costs, the Group plans to increase production by upgrading its conversion line for producing jumbo roll tissues by replacing the tissue rewinder with a more advanced version from Europe. Additionally, the Group will acquire a new conversion line for producing hand towels from China. The upgrade and expansion plans and the anticipated increase in the demand for its products are going to increase inventory level, hence, the Group plans to invest in an additional factory building of approximately 3,000 sqm at Tuas, Singapore, which will be used as a warehouse to help it improve logistics and delivery efficiency. With the detailed development blueprint well in place, the Group is set to grasp a bigger market share capitalising on its established brand name and years of presence in Singapore, and will be able to extend its footprint to cover nearby countries and capture growth in the region.

    Financial Highlights
    Year ended 30 September 2016 Year ended 30 September 2017
    S$'000 HK$'000(Note) S$'000 HK$'000(Note)
    Revenue 12,343 73,441 12,186 72,507
    Gross profit 3,258 19,385 3,493 20,783
    Gross profit margin (%)1 26.4 28.7
    Net profit margin (%)2 10.3 12.0

    (Note) For illustration purpose only, the above amounts denominated in S$ have been translated to HK$ at the exchange rate of S$1.00 to HK$5.95.
    1Gross profit margin for each of the year ended 30 September 2016 and 2017 was calculated based on gross profit divided by revenue for the respective year.
    2Net profit margin for each of the year ended 30 September 2016 and 2017 was calculated based on net profit divided by revenue for the respective year and excluding listing expenses.

    Use of Proceeds
    Assuming the Offer Price is fixed at HK$0.275 per share (being the mid-point of the indicative Offer Price range), the Group intends to use the net proceeds of approximately HK$30.0 million on the following:

    Items / Approximate amount (%)
    Invest in an additional factory building in Singapore to be used as warehouse and purchase delivery trucks and lifting equipment: 65.0%
    Upgrade conversion line in Singapore for the production of jumbo roll tissues: 20.7%
    Use as working capital and for general corporate purposes: 10.0%
    Acquire a new conversion line for the production of hand towels: 4.3%

    About Sunlight (1977) Holdings Limited
    Founded in 1977, Sunlight (1977) Holdings Limited, based in Singapore, is a leading tissue products supplier for corporate customers. The Group provides a comprehensive range of tissue and hygiene-related products and services for customers, and is the first and only jumbo roll tissue converter in Singapore*. With an operating history of around 40 years in the tissue products industry, the Group has developed a comprehensive customer base with customers from a wide array of industries, including facilities management and cleaning, hotel and leisure, and food and beverage industries.
    *Source: CIC Report

    Media Enquiries:
    Strategic Financial Relations Limited
    Maggie Au +852 2864 4815 maggie.au@sprg.com.hk
    Phoebe Leung +852 2114 4172 phoebe.leung@sprg.com.hk
    Yoko Li +852 2864 4813 yoko.li@sprg.com.hk
    www.sprg.com.hk



     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    - Medical Financial Services Continued to Maintain a Good Momentum;
    - Hospital Investment and Management Business Steadily Progressed

    HONG KONG, Mar 27, 2018 - (ACN Newswire) - The board (the "Board") of directors (the "Directors") of Universal Medical Financial & Technical Advisory Services Company Limited (the "Company") is pleased to announce that the audited consolidated annual results of the Company and its subsidiaries (together, the "Group") for the year ended 31 December 2017.

    FINANCIAL HIGHLIGHTS
    - The revenue amounted to approximately RMB3,419 million, representing an increase of 26.6% as compared with that of approximately RMB2,701 million for 2016.
    - The profit before tax amounted to approximately RMB1,576 million, representing an increase of 30.7% as compared with that of approximately RMB1,206 million for 2016.
    - The profit for the year amounted to approximately RMB1,149 million, representing an increase of 31.7% as compared with that of approximately RMB872 million for 2016.
    - The total assets amounted to approximately RMB37,733 million, representing an increase of 30.3% as compared with that of approximately RMB28,965 million as at 31 December 2016.
    - The total shareholders' equity amounted to approximately RMB7,469 million, representing an increase of 13.6% as compared with that of approximately RMB6,574 million as at 31 December 2016.
    - The return on equity was 16.36%.
    - The return on total assets was 3.44%.

    In 2017, the Group continued to reinforce its operating foundation and each of its business segments developed in a synergetic and orderly manner. Medical financial services continued to maintain a good momentum. Hospital investment and management business steadily progressed under favorable policies and the contents of its medical technology services were further enriched. Healthcare digitalization business also made preliminary progress. In 2017, the revenue of the Group was RMB3,419 million, representing an increase of 26.6% over the last year. Profit before tax was RMB1,576 million, representing an increase of 30.7% over the last year. Net interest margin continuously increased, asset size steadily enlarged and asset quality remained good.

    After years of development and accumulation, leveraging strong background as a central state-owned enterprise, the Group gradually built up its unique competitive strengths including abundant domestic and overseas medical resources, extensive customer network, professional business development capability and complete project evaluation system, having laid a solid foundation for the Group to become a leading medical and healthcare conglomerate in China.

    Vigorously Promoting Hospital Investment and Management Business

    In 2017, the Group made the best use of its own resource advantages, actively seized the opportunities brought by policies, and made greater efforts to promote the development of hospital investment and management business. On the one hand, the Group steadily moved forward the implementation of the projects under definitive agreements and the materialization of proposed cooperative projects. On the other hand, the Group seized the opportunity offered by the reform policies in relation to the spin-off of state-owned enterprises' hospitals and actively commenced negotiations and implementation of the consolidation of medical institutions of state-owned enterprises.

    The International Land Port Hospital project progressed orderly -- First Affiliated Hospital of Xi'an Jiaotong University (the "First Affiliated Hospital") is a large-scale comprehensive Grade III Class A hospital administered by the National Health and Family Planning Commission (the "NHFPC") with leading medical technology and service quality in Northwest China. International Land Port Hospital ("International Land Port Hospital") is a branch of the First Affiliated Hospital. The Group's total investment amount for this project will be no more than RMB2 billion. In return, the Group is entitled to the construction and operation right of International Land Port Hospital as well as the exclusive business cooperation right with International Land Port Hospital and First Affiliated Hospital. As of the end of 2017, through public bidding, China IPPR International Engineering Company Limited and Tengbomgruppen AB had been selected as the designers for the construction project of International Land Port Hospital. Based on the implementation of project design, the Group completed various preparatory work for the construction such as geological prospecting. The earthworks for the project officially commenced in November 2017. In terms of supply chain operations, the project-related companies have been established or acquired, the warehouse has been renovated and reconstructed, the construction of the internal management system has been completed, information system has been launched on-line, and professionals have been recruited and trained. A management platform of transparent procurement of medical supplies has been set up as the only portal working with hospitals and distributors to carry out all the activities such as procurement, warehousing and payment review. As the technology tests of the platform had been completed in early March 2018 and the First Affiliated Hospital has published the notice letter in respect of the platform's operation to all the suppliers, the platform has been technically ready for its formal on-line operation. The next step would be pushing forward the relevant work in relation to taking over the supply chain of the First Affiliated Hospital.

    The cooperation project of the new east district of Handan First Hospital progressed steadily -- On 31 August 2016, the Group signed a framework agreement with Handan First Hospital on the cooperation and joint construction of the new east district of Handan First Hospital. Handan is an important gateway city in southern Hebei and the central city in the region of Shanxi-Hebei-Shandong-Henan. Handan First Hospital is a large-scale comprehensive Grade III Class A hospital integrating medical care, teaching, scientific research, prevention, healthcare and rehabilitation with leading medical strength in Handan city. The new east district under planning and construction is positioned primarily as a specialized hospital and to a less extent, as a comprehensive hospital. In the future, the new east district and the hospital will jointly offer medical services to nearly 25 million people in the Shanxi- Hebei-Shandong-Henan region. At present, the preparation work for entering into definitive project contract is moving steadily forward.

    Continuing to Improve Medical Financial Services

    The Group continued to expand its medical finance business, strengthen its operating foundation and strive to achieve its development goals. In 2017, facing the increasingly fierce competition in the financial leasing market, the Group required its business teams to further strengthen the intensity of their operation in the relevant regions and continue to enhance business development, which enabled the Group to achieve a steady growth in assets and a sustained high return on interest-earning assets. At the same time, under the complicated domestic and overseas financial environment, the Group actively adjusted its financing strategies, optimized its debt structure, and worked hard to reduce cost rate of interest-bearing liabilities. Net interest margin continued to rise. As always, the Group implemented prudent risk control procedures and stringent asset management measures, and asset quality remained in the leading position among the industry peers.

    Continuing to Expand Clinical Department Upgrade Services

    With the continuous enrichment of medical resources, the Group's clinical department upgrade services were further expanded. The gross profit of the Group's clinical department upgrade services reached RMB137 million in 2017, representing an increase of 5.0% over the previous year. With healthcare resources diversifying, the Group further expanded its clinical department upgrade services and continued to promote the upgraded and innovative service model of cerebral stroke departments by systematical trainings on technology in respect of prevention, diagnosis and treatment of cerebral stroke and disease management, and formulated plans tailored for the development needs of hospital customers, striving to help hospitals raise the level of cerebral stroke prevention and treatment. Meanwhile, the Group has expanded the innovative model to other disciplines including ontology, gynaecology and obstetrics, cardiovascular department and rehabilitation. In October 2017, with the strong support of the Stroke Centre of Brain Disease Control Committee of the NHFPC, the Group successfully held Smile Stroke Conference and the 10th Sino-U.S. Cerebrovascular Disease Forum for the seventh consecutive year. The concept of cerebral stroke prevention, treatment and screening, advanced equipment and cutting-edge technologies were introduced to a number of county level hospitals in China. Recently, the Group also entered into framework agreements on technical training for cerebral stroke prevention and control projects with the Health and Family Planning Bureau of Handan City, Hebei Province, the Health and Family Planning Bureau of Xinyang City, Henan Province, Nanfang Hospital of Guangdong Province, Zhuhai Branch of People's Hospital of Guangdong Province (Central Hospital of Jinwan, Zhuhai City), Central Rehabilitation Hospital of Gansu Province, etc., continually promoting stroke prevention, screening and treatment capabilities of local healthcare institutions.

    Enhancing Efforts to Cultivate Healthcare Digitalization Services

    The Group grasped the opportunity of "Internet + healthcare" development, recruited talents in the field of healthcare digitalization at home and abroad, introduced advanced healthcare digital technology and experience in and outside China, and independently carried out the research and development of healthcare digital technology to provide hospital customers with customized and personalized Internet healthcare products. In December 2017, the Group, Qiqihar First Hospital and Yiyuan Doctor Group signed the Qiqihar First Hospital Healthcare Digitalization Cooperation Framework Agreement. The agreement provide for cooperation in six aspects, namely, diagnosis and treatment platform, healthcare digitalization, doctors' group, medical and health data, Internet healthcare industrial chain, and cooperation and expansion. The signing of the agreement represents a preliminary achievement of the healthcare digitalization business of the Group, laying a solid foundation for the continued expansion of the healthcare digitalization segment of the Group and the synergistic promotion of other businesses.

    When it comes to future prospects, Mr. Guo Weiping, the Executive Director and Chief Executive Officer of Universal Medical said that, "The year of 2017 was a year in which the Group made progress while maintaining stability and made impressive achievements based on accumulated efforts. We have been adhering to the integrated development strategy. While continuing to consolidate the medical financial business, we have steadily promoted the implementation of hospital investment and management projects either under definitive agreements or under cooperation intentions, and reinforced operating foundations for each business segment. In 2018, the Group will stick to the established development strategy, actively respond to changes in the market conditions, and actively seize the industrial development opportunities brought by national policies. The Group will continue to integrate internal and external quality resources, innovate business development models, and accelerate the business deployment all relevant sectors. Moreover, the Group will continue to improve the integrated medical service integrating medical finance, hospital investment and management, medical technical services and healthcare digitalization, and will strive to develop into a leading medical and healthcare conglomerate in China."


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Value-Driven Principle Led to High-Quality Development;
    Successfully Transformed Growth Momentum Operating Results;
    Achieved Sustained Solid Growth

    HONG KONG, Mar 27, 2018 - (ACN Newswire) - China Communications Services Corporation Limited ("China Comservice" or the "Company"), and its subsidiaries (the "Group") (HKSE code: 552), today announced its audited annual results for the year ended 31 December 2017.

    HIGHLIGHTS:
    - Total revenues were RMB94,572 million, up by 6.9%; in which revenue from Core Businesses1 amounted to RMB87,617 million, up by 12.4%.
    - Profit attributable to equity shareholders of the Company was RMB2,714 million, up by 7.0%.
    - Free cash flow was RMB6,118 million, up by 40.3%.
    - Gross profit margin and net profit margin were 12.9% and 2.9%, respectively.
    - The Board has proposed to distribute a final dividend of RMB0.1176 per share and a special dividend of RMB0.0235 per share. Total dividend for 2017 is RMB0.1411 per share, and dividend payout ratio is 36%.

    Operating Performance
    In 2017, the Group gradually transformed its growth momentum from CAPEX2-driven businesses by the domestic telecommunications operators to both the domestic non-telecom operator market and OPEX2-driven businesses by domestic telecommunications operators, and also from business driven by traditional infrastructure construction to business driven by integrated services and smart-typed products. Amidst the continued control on its products distribution business with low efficiency and the adverse factors such as overall decline in network construction investment in the domestic telecommunications industry and intensified competition, the Company still achieved steady growth, with the total revenues of RMB94,572 million, representing a year-on-year increase of 6.9% and profit attributable to the shareholders of the Company of RMB2,714 million, representing a year-on-year increase of 7.0%. The Company's free cash flow3 hit a record high at RMB6,118 million, representing a year-on-year increase of 40.3%. The favourable operating results and free cash flow have showcased robust development quality of the Group. With the transformation of the Company's growth momentum and gradual formation of its internal and external ecosystems, the Group's substantial development potential has been further demonstrated.

    Special Dividend
    The Board has proposed to distribute a final dividend of RMB0.1176 per share for the financial year ended 31 December 2017, representing a dividend payout ratio of 30%. Moreover, in view of the Group's outstanding operating results and free cash flow for the year, the Board has proposed to distribute a special dividend of RMB0.0235 per share for 2017. Taking into consideration of the above factors, the Company's total dividend for 2017 is RMB0.1411 per share, representing a total dividend payout ratio of 36%.

    Mr. Zhang Zhiyong, Chairman of China Comservice commented: "In 2017, facing a complicated economic environment, the Group adhered to its principal philosophy of 'value-driven, seeking steady yet progressive growth and efficient developmen' and adapted to the development trend. Internally, the Group strove to promote integration of our professional businesses, strengthen synergistic operation and improve the ability to respond to market changes. Externally, the Group explored cooperation in wider aspects to broaden industry ecosystems, armed ourselves with the philosophy of supplyside reform in promoting development, thereby achieving favourable operating results, sustaining optimization of business and customer structure and steadily improving quality of development of the Company. In view of this, the Board continued to propose a special dividend for 2017 to enhance shareholders' return."

    Market Development
    While the Group's revenue scale in recent years has been constantly expanding, the dependence of its operations on the network investment of domestic telecommunications operators has been gradually weakening and the contribution from the Core BPO services 4 and domestic non-telecom operator customers to the overall incremental revenue of the Group has been significantly increased as compared to the same period of last year, which broadly indicated the realization of the transformation of growth momentum.

    Domestic Non-Telecom Operator Market
    In 2017, the domestic non-telecom operator market was the fastest growing market of the Group and played an important role in propelling the overall sustainable development of the Group. The revenue from this market amounted to RMB26,656 million, representing a year- on-year increase of 12.4%, accounting for 28.2% of the total revenues of the Group. The revenue from the Core Businesses of this market increased by 26.5% year-on-year, accounting for 83.2% of its overall revenue, representing a year-on-year increase of 9.3 percentage points, which demonstrated the optimization of business structure. In the domestic non-telecom operator market, the Group focused on key areas such as government, electricity and transportation, reinforced its marketing team construction, enhanced the products enabling through training camps for industry-leaders and talented staff in domestic non-telecom operator market, broadened its external cooperation while constantly building up its product series, including Smart City, Smart Security, Smart Park, Smart Transportation, Smart Safety, Smart Town and Smart Grid, thereby progressing the cross-region promotion of its products and capabilities and boosting the Group's development. During the year, the Group continued to expand its businesses into the power sector effectively, where 49 business development units for the power sector have been established nationwide and 172 business licenses in the power sector have been obtained. The Group also achieved breakthroughs in the transportation sector with the official launch of our "Smart Highway" solution by means of holding a nationwide summit, and the summit has significantly enhanced the Group's influence in the industry and drove the development of the platform and related integrated businesses.

    Domestic Telecommunications Operator Market
    In 2017, for the domestic telecommunications operator market, the Group insisted on leveraging both the "CAPEX and OPEX-driven" businesses and "the priority of service quality", thus realised a revenue of RMB65,080 million, representing a year-on-year increase of 6.9% and accounting for 68.8% of the total revenues of the Group. Among that, the revenue from China Telecom amounted to RMB41,568 million, representing a year-on-year increase of 2.4% and accounting for 43.9% of the total revenues. The revenue from domestic telecommunications operators other than China Telecom reported a year-on-year increase of 15.9% and accounting for 24.9% of the total revenues, representing a year-on-year increase of 2.0 percentage points. Among that, the Group exploited the new characteristics of China Mobile's centralized procurement and emphasized on maintaining a positive cooperative relationship with China Tower, strived to expand new businesses and enhanced market share, thereby supported the rapid growth of the related businesses.

    Overseas Market
    In 2017, affected by cyclical fluctuations of its overseas projects and the Group's proactive control of low efficiency businesses, revenue from overseas market recorded a year-on-year decrease of 26.2% and amounted to RMB2,836 million, accounting for 3.0% of the total revenues. The Group have strengthened our risk prevention measures in our overseas businesses, and actively adjusted our overseas business operation and management structure. At present, the new management structure for China Communications Services International Limited has been established, under which the Group have accelerated the building up of our marketing team, resulting in improved capabilities in marketing. Meanwhile, overseas market was divided into five major business regions geographically, which is managed dynamically in a more flattened manner for business development. An overseas technical support centre was also established to centralize the allocation of resources and provide support to the expansion of our overseas projects.

    Business Development
    Telecommunications Infrastructure ("TIS") Services Revenue from TIS services amounted to RMB50,511 million, representing a year-on-year increase of 10.1%, and accounting for 53.4% of the total revenues. The Group captured the important opportunities of the domestic telecommunications operators' network upgrade and the upgrade of fiber optic broadband networks as well as tower construction and the deployment of the IoT, and thereby reinforced our business from domestic telecommunications operators. Meanwhile, the Group continued to shift its products and capabilities to the domestic non-telecom operator customers market, resulting in the revenue of TIS services from this customer group growing at a significant year-on-year rate of 30.3%. The rapid growth of TIS services of the domestic non-telecom operator customers has greatly enhanced our ability to withstand the impact from the decline in the CAPEX of domestic telecommunications operators.

    Business Process Outsourcing ("BPO") Services
    Revenue from BPO services amounted to RMB32,763 million, representing a year-on-year increase of 0.7% and accounting for 34.6% of the total revenues. The Group's insistence on value-driven principle and proactive control of its products distribution business with low efficiency were the main causes for the slow increase in the revenue from this segment, whereby revenue from products distribution business for the year reported a significant year-on-year decrease of 33.6%. Excluding this factor, revenue from its Core BPO services reported a rapid year-on-year increase of 17.0%, demonstrating the favourable results of the Group's transformation of its growth momentum. Revenue from the network maintenance business increased by 20.1% year-on-year, indicating a remarkable acceleration as compared with the same period of last year 5, and revenue from supply chain service increased by 16.8% year-on-year, demonstrating the sound results of synergistic business operation.

    Applications, Content and Other ("ACO") Services
    Revenue from ACO services amounted to RMB11,298 million, representing a year-on-year increase of 12.7%, accounting for 12.0% of the total revenues. The Group captured the business opportunities arising from the intelligentization transformation of domestic telecommunications operators as well as the flourishing demand of the domestic non-telecom operator customers for informatization construction and vigorously promoted our smart-typed products, thereby increasing the core competitiveness of this business segment. In 2017, the aggregate revenue from the Group's system integration, software development and system support businesses increased by 20.7% year-on-year, which is 6.8 percentage points higher than the "Revenue Growth Rate of National Software and Information Technology Service Industry" 6, i.e. the industry average level.

    Prospects
    Mr. Zhang Zhiyong, Chairman of China Comservice said: "In 2017, the Group achieved favourable results and stepped into a new level in its overall development by adhering to its principal philosophy of 'value-driven, seeking steady yet progressive growth and efficient development'. Looking forward, from the macro-economic perspective, China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development. This is a pivotal stage for the transformation of growth model, improvement of economic structure, and the fostering of new drivers of growth. With the starting point of new economic cycle arriving, the digital economy will have a massive room for development and investment from industries will be dominating, and the digitalization needs for electricity, transportation, beautiful villages, utility tunnel system, logistics and information security will create a vast market. From the industrial trend perspective, the integration of information technology and traditional industries has become the new engine of the digital economy. New technologies such as Artificial Intelligence, Blockchain, Cloud Computing, Big Data, Smart Home, IoT and 5G will consecutively enter into periods of explosive development and bring us new business opportunities. Competition in platform ecosystems and online-offline integration have become the new trend in which the platform has become a new competition carrier of the three major elements, i.e. computing, data and industry. It is the key to the personalized and flexible application for the customers as well as scale and boundary breakthrough for the industries, which will bring new space and business ecosystems for the Group's accelerated development.

    In response to changes in the internal and external environments, the Group will adhere to its overall roadmap of 'value-driven, seeking steady yet progressive growth and high-quality development' in 2018, requiring itself with the standard as a top-tier enterprise, unleashing its accumulated experiences and strengths for many years in the field of new informatization services, insisting on product-oriented services and platform-oriented products. By targeting the digitalization and informatization transformation among the society and industries, the Group will continue to create a new value-sharing ecosystem that can satisfy the customers' needs while gathering industrial chain resources and improving service quality, assisting domestic telecommunications operators to build superior network for the country, fulfilling the intelligentization demand of domestic non-telecom operator customers, with a view to continuously creating new growth drivers for the Group's development. Focusing on the national 'Belt and Road' Initiative, the Group will strengthen its cooperation with domestic telecommunications operators and the 'Go Aboard' Chinese enterprises, accumulate and integrate resources, expedite the development of overseas turnkey projects, enhance its international operating capabilities, and make overseas market a new growth driver for the Group's business as early as possible. At the same time, the Group will accelerate the development of its financial segment, and capitalize on our financing ability and our traditional industrial resources to drive development. Facing the modern services industry, the Company will promote the industrial upgrading, so as to create greater value for its shareholders and customers with better development and more satisfactory performance."

    About China Comservice
    China Comservice is a leading service provider in the PRC for integrated support services in the informatization sector. The Company offers telecommunications infrastructure services spanning from design, construction to project supervision and management; business process outsourcing services spanning from management of infrastructure for information technologies (network management), general facilities management, supply chain and products distribution; applications, content and other services spanning from system integration, software development and system support to value-added service, etc. The Company's major customers include domestic telecommunications operators (including the three domestic telecommunications operators and China Tower), domestic non-telecom operator customers including government agencies, industrial customers and small and medium-sized enterprises, as well as overseas customers. Its controlling shareholder is China Telecommunications Corporation, and besides, China Mobile Communications Group Co., Ltd., China United Network Communications Group Company Limited and China National Postal and Telecommunications Appliances Co., Ltd. are also shareholders of the Company.

    In 2017, the Company was honored the "Best CEO" and "Best CFO" awards again, and "Best Investor Relations" in the "7th Asian Excellence Recognition Awards" by Corporate Governance Asia, a renowned journal on corporate governance in Asia. At the same time, the Group was again granted the award of the "The Best of Asia - Icon on Corporate Governance" in the 2017 "13th Corporate Governance Asia Recognition Awards" while Mr. Si Furong, the President of the Company, was granted the "Asian Corporate Director". In the voting for "The Asset Corporate Awards 2017" held by The Asset, the Group was awarded the "Platinum Award - Excellence in Environmental, Social and Corporate Governance". In the voting for 2017 "Golden Hong Kong Equities Awards", the Group was awarded the "Best Growth Value Listed Company" and the "Best Value TMT Company". During the year, the Group ranked 79th in the "2017 FORTUNE China 500" published by FORTUNE China.

    For further information, please browse the Company's website at: www.chinaccs.com.hk

    For press enquiries:
    China Communications Services Corporation Limited
    Investor Relations Department
    Mr. Terence Chung
    Mr. Steven Cheung
    Tel: (852) 3699 0000
    Fax: (852) 3699 0120
    Email: ir@chinaccs.com.hk

    Forward-looking statements This press release contains forward-looking statements and information relating to us and our operations and prospects that are based on current beliefs and assumptions as well as information currently available to us. The words "anticipate", "believe", "estimate", "expect", "plans", "prospects", "going forward" and similar expressions, as they relate to us or our business, are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks, uncertainties and various assumptions. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may diverge significantly from the forward-looking statement. We do not intend to update these forward-looking statements other than our on-going disclosure obligations pursuant to the Hong Kong Listing Rules or other requirements of the Hong Kong Stock Exchange.


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Strengthening its 'Two-Wheel-Drive' Business Model, Developing an Ever-growing Investment Portfolio

    HONG KONG, Mar 27, 2018 - (ACN Newswire) - Legend Holdings Corporation (3396.HK) is pleased to announce audited annual results for the Group for the year ended December 31, 2017. Legend Holdings recorded performance growth for the third consecutive year since its listing. The overall revenue of the Group was RMB316.3 billion, representing an increase of 3% over last year. Net profit attributable to equity holders of the Company amounted to RMB5,048 million, representing an increase of 4% over last year, and (basic) earnings per share amounted to RMB2.16.

    "In 2017, in such a favorable context, Legend Holdings has made steady progress in business development in line with its strategic development, strengthening advantages of its 'two-wheel-drive' business model, the three major segments of the Group's strategic investments create an ever-growing investment portfolio, achieved a breakthrough development of pillar assets acquisition and overseas resources allocation, focused on the connection of the invested companies with the capital markets and external resource portfolio companies. Through diversified 'management + strategic service', meaning new deployment or positively optimization, it has further enhanced the portfolio value," stated Mr. Zhu Linan, President of Legend Holdings.

    "Meanwhile, the Group has enhanced the highly professional personnel recruitment, strengthened the organizational structure such as the investment management system, laid a solid foundation of the Group's culture, further promoted the organization's morale and engagement in order to poise for the company's medium-to-long-term development. In 2018, the Group will continue reinforcing the synergy advantage of value creation and the two-wheel-drive businesses model, through clear strategy and stronger execution, to drive more strategic outcome in the future. We hope for a better return to shareholders with our more optimized investment portfolio and significant value growth."

    --Continuous growth in 'two-wheel-drive' businesses

    During the Review Period, Legend Holdings' strategic investment segment has gone on the track of sound progress and achieved a steady growth of results.

    Revenue from the financial services segment increased by 130% year-on-year, with net profit attributable to equity holders of the Company increasing by 7%. Among which Zhengqi Financial optimize its asset allocation and implement the long-term strategy of investment-loan linkage, and achieved stable growth in the business scale and profits; Kaola Technology, an innovative financial service provider, increase in its profit margin through development and upgrading of risk control technology; JC Finance & Leasing has actively pursued market expansion in its finance leasing business, optimized its business mix, and achieved healthy development.

    Revenue from the innovative consumption and services segment increased by 32% year-on-year, achieving a decrease in losses. During the Review Period, while the Group was developing and enhancing its business value, it grasped the market and national policy trend, and fully release the advantages of the 'two-wheel-drive' model, invest in Better Education Educational Group, a leading kindergarten group with direct operation networks of middle and high-end kindergartens in China, by purchasing controlling equity interests, and made strategic investment in Eastern Air Logistics Co., Ltd. ("EAL"), one of the first pilots for mixed ownership reform of state-owned enterprises, achieving a new deployment in education and aviation logistics segments.

    Revenue from the agriculture and food segment increased by 52% year-on-year and the net profit attributable to equity holders of the Company increased by 231% year-on-year. The Group took the Joyvio Group as a platform, to focus on developing two supply chains of fresh fruits and animal protein. During the Review Period, Golden Wing Mau and KB Food further enhance the competitive advantage; the continuous optimization of Funglian Group's product mix led to a substantial increase in the overall operating efficiency and profit; Joyvio Agriculture acquired the controlling interests of Qingdao Starfish; Joyvio Group completed strategic investment in Nine Masters, and expanded the strategic layout in the integrated food materials supply chain.

    In addition, in the Information Technology segment, the Group adhered to its 3-wave strategy, and revenue increased by 6% year-on-year. Facing the challenge, Legend Holdings will actively provide all-round support on this matter; revenue of the new material segment increased by 4% and net profit attributable to equity holders of the Company increased by 242%. During the Review Period, Lenovo Group further optimized its product mix and enhance its profitability and market influence.

    The Group's financial investment business recorded steady development, the net profit attributable to equity holders of the parent increased by 42%, the investment income and gains increased by 122%, the management of the three fund platforms has steadily expanded, and the total asset was approximately RMB 110 billion. During the Review Period, Legend Capital continued to reinforce its influence on its focusing segments, invested in 60 new projects and exited from 21 projects, 8 portfolio companies were successfully listed on domestic or overseas capital markets through initial public offerings, which increased the portfolio value.

    Hony Capital maintained its leading position in state-owned enterprise reform and cross-border investments while achieving initial success in respect of its trial investment in real estate finance, replenishing its investment areas from two dimensions, completed investment or additional investment in 29 new projects and existed 21 projects. Besides, Hony Capital obtained the license for mutual fund business in January 2018, and new opportunities are expected to arise for the future development of its product mix and asset under management; Legend Star raised fund from third-party investors for the first time, in 2017, Legend Star invested in more than 50 onshore and offshore projects, and 63 portfolio companies portfolio companies completed follow-on financing, and continued to consolidate its leading position among domestic venture capital institutions.

    --"Two-wheel-drive model" has achieved the new results

    Mr. Zhu Linan, President of Legend Holdings, stated the Group will actively display the synergy between strategic investment and financial investments, achieve a flow of 'two-wheel-drive model' results. Based on the practical experience, Legend Holdings will elevate the synergic driving model of two-wheel-drive business to strategic height, on the premise of maintaining the independence of fund management, to fully release the advantages of the two major businesses, and promote business cooperation, enhance the value of the Group and investment return. In 2017, the synergy generation from the 'two-wheel-drive model' has been further enhanced, and a flow of new results have been achieved.

    In June 2017, Legend Holdings and Legend Capital strategically jointly invested in EAL. Legend Holdings and Legend Capital now directly hold 20.1% and 4.9% equity interests of EAL, respectively. In July 2017, Legend Holdings, together with Hony Capital, made a strategic investment in Better Education, a leading medium-to-high-end kindergartens group with direct chain operation in China, the 51% share of Better Education was held by Legend Holdings directly and 29% by Hony Capital. The above transaction was a success that integrated the brand, fund, management and control of Legend Holdings, the project resources and investment analysis capacity of Legend Capital and Hony Capital. The 'two- wheel-drive' is one of the unique advantages of Legend Holdings, achieving win-win outcomes for both itself and its subsidiary fund company.

    EAL is among the first pilots for mixed ownership reform of state-owned enterprises and the first one implementing the reform, EAL currently has presence in the fields including cross-border e-commerce, air logistics and air freight of premium fresh food, which highly tally with the innovative consumption and services that the Group focused on, and can generate strong synergistic
    effects with other enterprises in which the Group made investment, providing a large room for development. Along with the increase in the demand for aviation logistics business, release the energy from the reform of management system and inject advantages of strategic investors, resulting in improvement in the result of EAL.

    After over a decade's operation, Better Education has established a standardized operation model, developed an operation team with rich experience in management, ranks among the top tier in respect of the business scale in China, the current demand for pre-school education is strong and market supply is highly fragmented, the capacity for systematic and cross- boundary operation will be easier to acquire high-quality resources and be entitled to the first mover advantages.

    --Assist the value growth of portfolio companies

    With the needs for development of the portfolio companies and the value growth of the investment portfolio of Legend Holdings, the Group encourage and support its portfolio companies to secure necessary resources for corporate development through refinancing, spin-off, listing and other means.

    During the Review Period, the Group has adopted a series of actions to reinforce the explicit promotion of the portfolio companies market value, and further enhance and optimize investment portfolio. In respect of agriculture and food segment, Joyvio Agriculture was built as the first listed platform for strategic industrial development, and will accelerate the expansion of its business relating to purchase, processing and distribution of high-end animal protein extracted from seafood through investments and mergers and acquisitions, it had a controlling stake, completed a material asset restructuring and obtained controlling interests in Qingdao Starfish, a leading seafood provider in China, in August 2017, further enhanced the Group?s control over the upstream resources of animal protein industry chain; Funglian Group was acquired by Hebei Hengshui Laobaigan Liquor Co., Ltd, a listed company the main board of the A-share stock market, the transaction has been completed and Joyvio Group has now become the second largest shareholder of Laobaigan.

    In the new material segment, Chinese Academy of Sciences made strategic investment in Levima New Materials. The investment gave Levima New Materials the access to the profound technologies and innovation resources of Chinese Academy of Sciences; considering adjustments to investment portfolio, optimization of assets allocation and further promotion of strategic focus, the Group transferred all its equity interests in Phylion Battery to a third party strategic investor, achieving a better return.

    --With stronger execution to achieve strategic goals

    In 2018, Legend Holdings will take effective strategies to promote the continuous optimization of its strategic investment portfolio and to realize its strategic targets with stronger execution for more fruitful achievements. Firstly, the Company will continue to build pillar businesses; the Company will more actively participate in the management and control of Lenovo Group to improve its profitability and value. For the financial services segment, the strategic acquisition of a controlling stake in Banque Internationale a Luxembourg S.A. by the Company is steadily going through regulatory review. As a pillar asset, the investment will improve the overall value and financial stability of the Company in the future. For the innovative consumption and service segment, the Company will develop platform enterprises in healthcare, education and other consumption areas by virtue of flexible shareholdings and market-oriented resources.

    The strategic presence in agriculture and food business has taken shape, which will boost the leading position of Joyvio Group in the sales and distribution of medium-and high-end fruits + high-end animal protein products. Secondly, it will further optimize the stock assets. and fully release the advantages of the 'two-wheel-drive' model and promote the implementation of projects. Thirdly, the Company will further strengthen its investment management, enhance the value and improve the corporate governance mechanism and system of the portfolio companies. It will actively plan and push forward the separate listing of the portfolio companies or lay a solid foundation for such listing. Currently, the application of Lakala Payment, a subsidiary of the Company, for listing on the ChiNext board through initial public offering is under regulatory review.

    The fund platforms of Legend Holdings' financial investments will deepen their presence in cutting- edge technology and new lifestyle areas on the basis of consolidating their current leading status, the content of the Group's financial investment will be further expanded. The Group will enhance the income stability and risk resistance of its financial investments through more diversified investments in special frontier funds, fixed-income products and innovative derivatives.

    Mr. Liu Chuanzhi, Founder and Chairman of Legend Holdings, is satisfied with the performance resulted from the strategy implementation by the management in 2017, and stated, "To China, 2017 was an extraordinary year. Deepening the supply-side structural reform, the government promote entrepreneurship, and create a more fair, legal business environment, meanwhile, the country is more concern about high quality development, large consumption groups, strong private capital, maturing innovation-driven foundation etc, providing a large room for the future economic development of China. In this era, Legend Holdings will continue grasping opportunities such as the turning from real economy to the virtual economy, consumption upgrading and technological breakthrough, strengthen the mechanism, fully released the advantages of the 'two-wheel-drive' model, adhered to value creation, and solidly advance its strategy to achieve the established goal. Meanwhile the Group needs to pursue long-term development, and strategic layout. Legend Holdings is an enterprise with glorious tradition, we are walking on an innovative path, in that past we continuously exploring, concluding, among the adversity, I believe that in the coming future, more and more achievement can be made."

    About Legend Holdings Corporation Limited

    Legend Holdings Corporation is a leading investment group in China. The company purchased and built "Strategic Investment + Financial Investment" two-wheel business synergy drive's innovative business model. Strategic investment business is distributed in with five industries of IT, Financial
    Services, Innovation consumption and Services, Agriculture and Food and New materials. The
    financial investment business mainly includes Angel Investment, Venture investment and Private equity investment which cover all stages of business growth. In the past 30 years, under the leadership of the founder and Chairman Mr. LIU Chuanzhi and President Mr. ZHU Linan.

    The company seize the important theme of China's economic development, flexible investment methods and rich management experience to build and continue to train a group of influential and outstanding companies to promote synergies between businesses. And continue to optimize their portfolios to achieve sustained growth in corporate value. The company's strategic investment focuses on three major areas of financial services, innovative consumption and services, and agriculture and food also continue to pay attention to overseas investment in assets.





     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Rapid growth in global business, business chain deployment nearly complete

    HONG KONG, Mar 27, 2018 - (ACN Newswire) - Ausnutria Dairy Corporation Ltd ("Ausnutria" or the "Company", together with its subsidiaries, the "Group"; 1717.HK), a company engaged in the research and development, production and distribution of all dairy products (including infant formula) and nutrition products with production facilities principally based in the PRC, the Netherlands, Australia and New Zealand, is pleased to announce its annual results for the year ended 31 December 2017 (the "year under review" or the "Year 2017") today.

    During the year under review, the dairy industry across the People's Republic of China (the "PRC") faced huge challenges due to the change in regulatory policies, particularly the implementation of registration requirements for infant formula. In response this, the Group implemented continuous corresponding strategies and maintained significant growth in operating performance. For the Year 2017, the Group's revenue increased by 43.3% YoY to RMB3,926.5 million, gross profits increased by 50.3% to RMB1,690.2 million, and the gross profit margin was 43.0%, representing an increase of 1.9 percentage points. Profit attributable to shareholders increased by 44.9% to RMB308.1 million and basic earnings per share was 24.61cents, a rise of 44.4% compared with the same period last year. Given the Group's strong business growth and sound financial position, the Board recommended a final dividend payment of HK$0.10 per share for the Year 2017 (the year ended 31 December 2016 (the "Year 2016"): HK$0.05).

    Mr. Yan Weibin, Chairman of the Group, said - "In 2017, Ausnutria overcame a host of difficulties by adhering to its principle of 'responding to market uncertainty with firm strategies' and executed strategies with full faith. The Company has achieved satisfactory results in terms of operational performance, product diversification and business chain deployment. The Group's performance continues to grow steadily, mainly due to the sustained effects in fine tuning of strategic plans and layout of the Group's core own-branded infant formula business, improvements in the Group's organization structure and sales network, clear brand positioning and the implementation of innovative business strategies, which allowed the Group to cater effectively to different market demands in the PRC, and enhanced the business development of the Group."

    In 2017, the multi-branding strategy of formula milk powder of the Group propelled sustainable growth, and the sales of our own-branded business increased by 57.5% YoY to 2,862.6 million. Among this amount, cow milk formula revenue increased by 55.3% to RMB 1,582.8 million, compared with the year ended 31 December 2016. Revenue from the Company's own-branded goat milk formula, Kabrita, increased by 60.2% YoY to RMB1,279.8 million. In addition, sales of Kabrita in the PRC and overseas amounted to RMB1,067.2 million and RMB212.6 million, representing a substantial increase of 60.8% and 57.0%, respectively, compared to the Year 2016. Kabrita has been ranked the number one imported goat milk infant formula in the PRC in terms of both sales and import volume since 2014. Kabrita products are also now available in more than 66 countries and regions. This highly successful network has set a solid foundation for the distribution and promotion of the Group's products across the globe.

    The Group continues to improve its upstream business chain in response to the challenging market environment and growing market demand. Among which, two new factories in the Netherlands obtained certification from and completed its registration with the CNCA in November. The NZ Factory New Zealand, jointly developed with Westland (the second largest dairy cooperative in New Zealand), was also completed during the year and obtained a production permit from the Ministry for Primary Industries of New Zealand. In addition, the ADP factory in Australia has already started producing the Group's two main series of infant formula during the year. Taking into account that the construction of the Smart Factory in Wangcheng, Changsha City, the PRC is expected to be completed in 2018, the Group will then have ten factories around the world, realising Ausnutria's strategy of maintaining a global supply chain network with premium milk sources, and laying a solid foundation for the Group's future growth.

    With respect to global marketing network, the Group has extended its sales and distribution network in Taiwan by completing the acquisition of a 60% equity interest in Youluck in Taiwan. By acquiring a 50% equity interest in Ozfarm in Australia, which owns the number one maternal women's milk powder brand in Australia, the Group has further improved its overall product diversification. At the same time, with the acquisition of a 100% equity interest in ADP, the Group's international profile has been further enhanced. Following the completion of acquiring the nutrition business in Australia in 2016, the Company has successfully launched a number of nutrition products across the PRC and received a nice feedback from the market.

    Looking forward, Mr. Yan Weibin concluded - "2018 is the Group's fifteenth year in business, we believe that the PRC economy will continue to maintain stable growth. The upscaling of consumption patterns has created enormous opportunities for food and nutrition enterprises in the PRC. Factors such as technological improvements, the social media boom, the sharing economy, advances in data management, and the PRC's national strategies such as "The Healthy China Dream" and "The Belt and Road Initiatives", have all created excellent opportunities for Ausnutria to overtake its competitors. In 2018, the Group will continue its mission of 'Nourishing Life and Growth'. While strengthening the quality of our products coupled with our solid foothold in the PRC, the Group will continue its efforts to develop global markets. Backed by clear brand positioning and effective marketing strategies, the sales of the own-branded infant formula of Ausnutria will achieve even better results, it will also allow the Group to seize opportunities in the PRC and overseas markets, maintain rapid and sustainable growth, and produce the greatest returns for consumers and shareholders."


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Telecom Service One Holdings Limited has successfully transferred listing from GEM to the Main Board. A group photo of Mr. Cheung King Shan, Non-executive Director, Mr. Cheung King Shek, Chairman and Non-executive Director, Mr. Cheung King Fung Sunny, Chief Executive Officer & Executive Director and Mr. Cheung King Chuen Bobby, Non-executive Director of Telecom Service One Holdings Limited (from left to right).
    HONG KONG, Mar 27, 2018 - (ACN Newswire) - Telecom Service One Holdings Limited ("TSO", together with its subsidiaries, "the Group"; stock code: 3997) is pleased to announce that trading of its shares on the Main Board of the Stock Exchange of Hong Kong Limited ("SEHK") has commenced today on 27 March 2018 under the new stock code 3997. The last trading day of the Group's shares on GEM under the old stock code 8145 was 26 March 2018.

    The Group is a well-established repair services provider in Hong Kong. It operates eight service centres in Hong Kong and Macau which mainly provide repair and refurbishment services for mobile phones and other personal electronic products as well as sale of related accessories and products. The Group's repair and refurbishment services primarily cover mobile phones, pagers, two-way mobile data communication devices, personal computers, tablet computers, portable media players, video game consoles and handheld game consoles. The Group has maintained a close relationship with its customers. As at March 2018, the Group is appointed by 16 corporate customers to act as their service provider, including a number of multinational mobile phone and personal electronics product manufacturers, telecommunications service provider and global services companies. The Group has obtained ISO 9001:2015 certification - Quality Management System in April 2017, which helps to lay a solid foundation for strengthening the Group's corporate governance and compliance management, thus supporting its further expansion.

    The Group's revenue for the nine months ended 31 December 2017 was approximately HK$76,811,000. Gross profit increased by 14.9% year-on-year to HK$40,656,000 and gross profit margin reached a new high of about 52.9%. Profit for the period was HK$20,479,000, representing an increase of 43.9% when compared with the same period of last year.

    Mr Cheung King Shek, Chairman and Non-executive Director of Telecom Service One Holdings Limited, said, "The Group has been operating since 1999. After years of development, we are now a well-established repair services provider in Hong Kong. The Group was listed on GEM in May 2013 while today we have transferred our listing from GEM to the Main Board successfully, signifying another major milestone in the Group's development. Our listing on the Main Board not only can enhance the Group's image, but also can positively influence its future growth, financing flexibility and business development. We will continue to strengthen our market position and enlarge our market share, along with actively seeing and seizing market opportunities in order to generate long-term value for shareholders."

    Looking ahead, the Group will continue to streamline its management process, integrate its external and internal resources and enhance its business process and management models, so as to develop its core business. The Group will also enhance the scope of its repair and refurbishment services, strengthen its product knowledge and technological capabilities, so as to drive business growth.

    About Telecom Service One Holdings Limited (Stock Code: 3997)
    Starting operation since 1999, Telecom Service One is one of the leading providers of repair services for mobile phones in Hong Kong. It operates eight service centres in Hong Kong and Macau. The Group primarily provides repair and refurbishment services for mobile phones and other personal electronics products as well as sales of related accessories. The Group has been appointed by a number of multinational corporate customers (including manufacturers of mobile phones and personal electronics products, telecommunications service provider and global services companies) as authorized service provider to provide repair and refurbishment services for their products. The Group has successfully obtained ISO 9001:2015 certification - Quality Management System in April 2017. The Group was listed on the GEM board of the Stock Exchange of Hong Kong Limited in May 2013 and has successfully transferred to the Main Board in March 2018.

    For more information about TSO, please visit: http://www.tso.cc/

    Media Enquiries:
    Strategic Financial Relations Limited
    Iris LEE +852 2864 4829 iris.lee@sprg.com.hk
    Joanne LAM +852 2864 4816 joanne.lam@sprg.com.hk
    Janet FONG +852 2864 4817 janet.fong@sprg.com.hk



     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Continues to Expand Business Presence of Internet Data Centers and Explore Potential Investment Opportunities

    HONG KONG, Mar 27, 2018 - (ACN Newswire) - Neo Telemedia Limited ("Neo Telemedia" or the "Company;" stock code: 8167, together with its subsidiaries, the "Group") is pleased to announce its annual results for the year ended 31 December 2017.

    Since the Group restructured its business in 2014, it has forged ahead with developing the Internet data center (IDC) business. In 2017, the Group entered into cooperation agreements with various parties to strengthen its industry-leading position. During the year, although competition was keen in the telecommunications industry, in particular the mobile phone sector, the Group managed to record a turnover of approximately HK$1,214,772,000 (2016: HK$2,513,845,000). In the absence of a gain on disposal of HCH Investments Limited recorded last year and the decrease in sales of telecommunications products due to market competition as mentioned above, profit attributable to owners of the Company amounted to approximately HK$40,905,000 and earnings per share were 0.43 HK cents (2016: 2.02 HK cents).

    The Group is committed to maintaining healthy and reasonable financial indicators. As at 31 December 2017, the Group had cash and equivalents of HK$164,437,000 and a current ratio at 1.7 times. To reward shareholders for their support, the Board recommended a final dividend of 0.38 HK cents per ordinary share (2016: 0.38 HK cents).

    Sales of Telecommunications Products and Services

    Bluesea Mobile Group

    During the year under review, Guangdong Bluesea Mobile Development Company Limited* and its subsidiaries (collectively referred to as "Bluesea Mobile Group") made a successful bid for the land use rights of a land parcel located at Heshan City, the PRC, for the construction of the "Bluesea Intelligence Valley", which will feature a Big Data enterprise incubation platform for the development of the Big Data business in Hong Kong, Macau and Taiwan. The construction of the Internet data center in Panyu, namely Guangzhou Lotus Mountain Data Center, was completed and has started a trial run in the third quarter. Guangzhou Nowtop Technology Company Limited* ("Guangzhou Nowtop") and its subsidiaries have contributed a turnover of approximately HK$208,100,000 during the year, while Bluesea Mobile Group recorded an aggregate turnover of approximately HK$399,300,000 from trading of telecommunications products, provision of IDC, WIFI, system integration and value-added Internet services and software development.

    Million Ace Group

    Million Ace Group is mainly engaged in trading of mobile phones, tablets and related devices. Despite keen market competition during the year ended 31 December 2017, Million Ace Group managed to record a turnover of approximately HK$698,600,000 in the year under review.

    Internet Finance Platform Business

    During the year under review, the Group continued to expand the customer base of its Internet finance platforms operated by Shenzhen Bees Financial Internet Financial Services Co. Ltd.*. The revenue of approximately HK$108,300,000 contributed to the Group represented service or commission income through the operations of these platforms.

    Prospects

    Looking ahead, the Group will continue to expand its IDC business. On 6 January 2017, the Group successfully bid for a land parcel in Heshan City, which will be used for the construction of the "Bluesea Intelligence Valley". "Bluesea Intelligence Valley" will feature a Big Data enterprise incubation platform through government guidance and policy support which will operate in the market. On 19 June 2017, the Group has entered into a joint venture cooperation framework agreement (the "Cooperation Framework Agreement") with China National Offshore Oil Information Technology Limited* ("CNOOIT"). Pursuant to the Cooperation Framework Agreement, the Group and CNOOIT have established a joint venture company for the development of an IDC in Huizhou, which is expected to be put into service in 2018.

    In addition, the Group will continue to explore potential investment opportunities in IDC, the Internet-of-Things, cloud computing and related businesses. With favorable policies and support from the PRC government towards these fast-growing sectors, the management is optimistic that the Group will regain its strength and be able to reward shareholders with better results in the foreseeable future.

    About Neo Telemedia Limited (stock code: 8167)
    Neo Telemedia Limited and its subsidiaries (collectively, the "Group") is a telecommunications group focusing on the Internet and big data sectors, subsequent to its recent corporate restructuring. The Group has been included as a constituent stock in the MSCI China Small Cap Index since November 2015. Its wholly-owned subsidiary, Guangdong Bluesea Technology Company Limited, has partnered with Shangdong Inspur Group to form a joint venture, Guangdong Bluesea Inspur Cloud Computing Company Limited to establish a large cloud computing centre in Southern China. In early 2015, the Group signed several agreements to explore various opportunities in WiFi access services, application of cloud computing in the PRC. Additionally, to capture the opportunities arising in the Internet financing market in the PRC, the Group has officially launched its internet finance business platform under its subsidiary, Avatar Wealth in May 2015. The Group has also launched another internet finance business platform with Bees Financial. Shenzhou Aerospace Manufacturing Technology (Guangdong) Institute, which was jointly established by the Group, Shenzhou Aerospace Software Limited and Chancheng District People's Government of Foshan, was registered as a non-profit organization at the Department of Civil Affairs of Guangdong Province on 23 October 2015. At the end of 2015, the Group invested in the data center of Guangdong Bluesea Mobile Development Co., Ltd., including the Bluesea Intelligence Valley in Jiangmen.

    For press enquiries
    Strategic Financial Relations Limited
    Joanne Lam Tel: 852-2864 4816 Email: joanne.lam@sprg.com.hk
    Cecilia Shum Tel: 852-2864 4890 Email: cecilia.shum@sprg.com.hk
    Jeffrey Tam Tel: 852-2864 4858 Email: jeffrey.tam@sprg.com.hk
    Fax: 852-2527 1196


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    KAWASAKI, Japan, Mar 28, 2018 - (JCN Newswire) - Fujitsu Laboratories Ltd. today announced the development of cloud operations technology aimed at realizing a cloud that can be safely used without delaying or stopping customer processes due to maintenance. When cloud service operators perform maintenance, it is necessary to take measures such as moving the customers' virtual machines to another server, but this could have effects such as stopping or delaying customer processes. For this reason, it has been difficult to utilize the cloud for mission-critical processes. Now, Fujitsu Laboratories has developed technology to predict the degree of impact on customer processes, based on load patterns on virtual machines and on maintenance, as calculated by machine learning. Moreover, the technology will automatically and quickly create maintenance plans that avoid impact on customer processes. This technology will enable cloud operations that do not stop or delay customers' mission critical processes, thereby supporting cloud utilization by customers running processes that require more stable operations. Fujitsu Limited aims to make this technology available as a service during fiscal 2018, functioning to support the operation of its Fujitsu Cloud Service K5.

    Development Background

    With the prevalence of the cloud in recent years, there has been an increasing demand to migrate mission-critical processes to the cloud. With public clouds, however, there are circumstances in which maintenance is conducted regardless of customer's schedule, which may cause delays or have other consequences on processes. In order to create a cloud that customers can safely use for important processes, there has been a demand for cloud operations that provide stable functionality even during maintenance.

    Issues

    In public clouds, because it was necessary to temporarily stop, and then restart virtual machines (VMs) on other servers in order to conduct maintenance, so processes were temporarily halted as well. Moreover, while it was possible to avoid halting processes by migrating VMs to other servers without stopping them first, in a procedure called live migration (LM), it was essential to conduct LM at times when the load on the VMs was low. In a public cloud with multiple users, however, it was difficult to arrange a convenient time between multiple VMs.
    About the Newly Developed Technology

    Fujitsu Laboratories has now developed the technology to quickly create plans to conduct maintenance at times that will have the least impact on customer processes, for all servers in a cloud, through process load prediction and high-speed combinatorial optimization. Features of the technologies are as follows.

    1. Technology to predict times with the least maintenance impact on customer processes

    This technology first creates a model to predict the time required for live migration, for each VM executing customer processes, using machine learning to study the relationship between the time required for live migration in previous maintenance cycles and the load on the VM at that time. Then the technology predicts the time period, down to the minute, that will minimize the impact on processes due to live migration when maintenance is conducted. This is done by calculating the time required for live migration for each VM from the load on that VM, which is estimated with data that can be observed externally, such as memory usage and communications traffic.

    2. Technology to create a plan to quickly complete maintenance

    Fujitsu Laboratories has developed the technology to efficiently calculate a plan to complete maintenance for the cloud in as short a time as possible while minimizing the impact on processes and limiting the time to complete maintenance for each VM, finding the optimal combination from a huge range of options. With this technology, it is possible to quickly calculate the optimal solution using information on the composition of servers and VMs, as well as constraints unique to cloud operations, such as the conditions under which maintenance is possible.

    Effects

    In a simulation based on the operational data of a commercial cloud with about 5,000 VMs, where each VM was utilizing over 90% of its CPU resources for 80% of the time, while its utilization was low for 20% of the time, the results showed that with previous technology, a total of 425 VMs were subjected to maintenance while their process load was high, impacting those processes. This new technology, however, enables maintenance while avoiding high process load periods for all VMs.

    Future Plans

    This newly developed technology can limit the impact of cloud maintenance on customer operations to support customers in using the cloud for processes that require more stable operations, which were previously difficult in the cloud. Fujitsu Limited aims to make this technology into a service during fiscal 2018, making it available as a functionality supporting the operation of its Fujitsu Cloud Service K5.

    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 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. Software Laboratory E-mail: om-press2017@ml.labs.fujitsu.com Fujitsu Limited Public and Investor Relations Tel: +81-3-3215-5259 URL: www.fujitsu.com/global/news/contacts/

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    London and Stevenage, UK, Mar 28, 2018 - (ACN Newswire) - Tusk Therapeutics, an immuno-oncology company focused on developing immune-modulating therapeutics by targeting immune cells in cancer, announces today that it will deliver an oral presentation and three poster presentations at the 2018 American Association for Cancer Research (AACR) Annual Meeting taking place from 14th - 18th April 2018 at McCormick Place North/South, Chicago, Illinois, US.

    Dr. Sergio Quezada, Group Leader and Cancer Research UK Senior Research Fellow at The UCL Cancer Institute, and Chairman of Tusk Therapeutics' Scientific Advisory Board, will deliver the oral presentation at 10.30am on Monday 16th April. The presentation will focus on Tusk Therapeutics' first-in-class anti-CD25 antibody programme which is built on novel biology discovered by Tusk Therapeutics in collaboration with Dr. Quezada and his team at University College London. Tusk Therapeutics, Cancer Research UK (via its Commercial Partnerships Team) and UCL announced in 2017, an exclusive licensing and collaboration deal to develop and commercialise antibody-based therapeutics against CD25.

    Commenting on the presentations, Luc Dochez, Chief Executive Officer of Tusk Therapeutics said: "We are excited to be presenting data at the upcoming AACR meeting, in particular, to share data on the unique mechanism behind our anti-CD25 programme. It is well accepted that regulatory T-cells play an important role in immune-suppression in cancer but, thus far, nobody has been able to target Tregs effectively. Based on the pre-clinical proof-of-concept data generated in collaboration with Cancer Research UK and University College London, we have shown that our novel approach can successfully target Tregs and therefore we believe that Tusk Therapeutics' anti-CD25 antibody could become an important player in the immuno-oncology field."

    The full list of abstracts accepted for presentation at this year's AACR Meeting are detailed below:

    Oral Presentation
    Title: Targeting regulatory T cells for therapeutic gain: Means and mechanisms
    Presenter: Dr. Sergio A. Quezada. University College London Cancer Institute
    Session: In Vivo Monitoring of Immunotherapy Responses
    Date & Time: April 16, 2018, 10:30 AM - 10:55 AM
    Location: N Hall C - McCormick Place North (Level 1)

    Poster Presentations
    Title: Generation of first-in-class anti-CD25 antibodies depleting Treg without interfering with IL2 signalling for cancer therapies
    Abstract: 2787
    Session: Therapeutic Antibodies, Including Engineered Antibodies 2
    Date & Time: April 16, 2018, 1:00 PM - 5:00 PM
    Location: Section 34

    Title: A novel approach to deplete Treg cells using non-IL-2 blocking anti-CD25-targeting antibodies leads to complete rejection of established tumors
    Abstract: 3143
    Session: Immune Cells in the Microenvironment
    Date & Time: April 17, 2018, 8:00 AM - 12:00 PM
    Location: Section 5

    Title: A best in class anti-CD38 antibody with antitumor and immune-modulatory properties
    Abstract: 3812
    Session: Therapeutic Antibodies, Including Engineered Antibodies 3
    Date & Time: Apr. 17, 2018, 8:00 AM - 12:00 PM
    Location: Section 34

    Full abstracts are available online at www.aacr.org.

    For further information, please contact:
    Tusk Therapeutics
    Luc Dochez, Chief Executive Officer
    info@tusktherapeutics.com

    Media Enquiries:
    Consilium Strategic Communications
    Julia Wilson, Lindsey Neville
    +44 (0) 203 709 5708
    tusktherapeutics@consilium-comms.com

    About Tusk Therapeutics Ltd

    Tusk Therapeutics is a privately held immuno-oncology company focused on discovering and developing therapeutic antibodies that harness the power of the immune system to transform the treatment of cancer. The Company has established a diversified pipeline of antibodies against both novel and validated targets that have the potential to address a broad range of solid and haematological cancer indications. The companies two lead programmes, CD38 an immunomodulator with a novel mechanism and CD25 a Treg depleting agent, are in preclinical development. The Company has strategic partnerships and licensing agreements with top research institutes including Cancer Research Technology, Cancer Research UK's commercial arm and University College London. For further information about Tusk Therapeutics visit: www.tusktherapeutics.com

    About Cancer Research UK's Commercial Partnerships Team

    Cancer Research UK is the world's leading cancer charity dedicated to saving lives through research. Our specialist Commercial Partnerships Team work closely with leading international cancer scientists and their institutes to protect intellectual property arising from their research and to establish links with commercial partners. The team develop promising ideas into successful cancer therapeutics, software, devices, diagnostics and enabling technologies. This helps to accelerate progress in exciting new discoveries in cancer research and bring new treatments to patients sooner. http://commercial.cancerresearchuk.org/

    Cancer Research UK's commercial activity operates through Cancer Research Technology Ltd. (CRT), a wholly owned subsidiary of Cancer Research UK. It is the legal entity which pursues drug discovery research in themed alliance partnerships and delivers varied commercial partnering arrangements.

    About UCL (University College London)

    UCL was founded in 1826. We were the first English university established after Oxford and Cambridge, the first to open up university education to those previously excluded from it, and the first to provide systematic teaching of law, architecture and medicine. We are among the world's top universities, as reflected by performance in a range of international rankings and tables. UCL currently has over 38,000 students from 150 countries and over 12,000 staff. Our annual income is more than GBP 1 billion.

    www.ucl.ac.uk | Follow us on Twitter @uclnews | Watch our YouTube channel YouTube.com/UCLTV

    ###

    This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
    The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
    Source: Tusk Therapeutics Ltd via Globenewswire

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    - Automatically classifies services through traffic analysis utilizing AI -

    TOKYO, Mar 28, 2018 - (JCN Newswire) - NEC Corporation (TSE: 6701) today announced the successful demonstration of technologies that use AI to automatically classify services, such as video data and Web browsing, based on the characteristics of network traffic. This demonstration, jointly conducted with Japan's National Institute of Information and Communications Technology (NICT) in February 2018, contributes to the optimal allocation of network resources by automatically classifying services based on their traffic characteristics and visualizing their status of use.

    This demonstration utilized JGN and RISE, NICT's test bed networks for research and development, Keysight Technologies' network packet broker, and NEC's "Context-aware Service Controller."

    The Context-aware Service Controller automatically classifies services by extracting traffic characteristics based on the chronological data of the traffic and visualizes the status of network use for services by utilizing "NEC Advanced Analytics - RAPID machine learning," which is software that features deep learning technology and belongs to NEC's advanced AI technology series, "NEC the WISE." This reduces the prior setup work that is required of network operators in order to classify services.

    For this demonstration, NEC succeeded in automatically classifying services based on their traffic characteristics. The characteristics of traffic from three different services were processed and learned by NEC's Context-aware Service Controller. The three services included video data from professional baseball training (provided by Hokkaido Television Broadcasting Co., Ltd. and GAORA INCORPORATED), video data captured by an IP camera, and lifestyle traffic (such as Web browsing).

    Based on the results of this demonstration, it is possible to optimally allocate network resources to each service.

    "Going forward, NEC will utilize the results of this demonstration to promote the application of SDN/NFV and to contribute to advanced communication services that enable telecommunications carriers to optimize the allocation of network resources, including the Context-aware Service Controller and network virtualization solutions," said Shigeru Okuya, Senior Vice President, NEC Corporation.

    About NEC Corporation

    NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company's experience and global resources, NEC's advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society. For more information, visit NEC at http://www.nec.com.

    Based on its Mid-term Management Plan 2015, the NEC Group globally provides "Solutions for Society" that promote the safety, security, efficiency and equality of society. Under the company's corporate message of "Orchestrating a brighter world," NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow. For more information, please visit http://www.nec.com/en/global/about/solutionsforsociety/message.html.

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

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    TOKYO, Mar 28, 2018 - (JCN Newswire) - Hogy Medical Company Limited and Mitsubishi Corporation (MC) hereby announce that they have entered into a comprehensive business alliance in the medical business field.

    The domestic business environment poses a severe challenge for hospitals in Japan in light of the country's aging population and rising medical costs. Meanwhile, overseas markets where demand for new medical services continues to increase show tremendous potential for growth.

    While Hogy Medical has been developing products that contribute to the safety of patients and healthcare staff and to the improvement of hospital management since its establishment in 1961, MC has built up an extensive network, both domestically and abroad, over many years and has amassed a wealth of experience engaging with diverse sectors in overseas markets. Given that backdrop, both partners felt that there is much to gain in terms of mutual benefit should they pool the knowledge and individual strengths that they have cultivated to develop a new medical consumables and services business.

    The alliance will focus on the following three areas as both companies seek to meet changing demands.

    1. Developing Business for Medical Consumables in Overseas Markets
    Expand and open up new markets for Hogy brand products, including potentially establishing a joint venture; identify companies from which to procure kit products; and create alliances with medical consumables manufacturers for the purpose of manufacturing new products.

    2. Establishing Business for Reprocessing of Single Use Devices (SUD)
    Explore the possibilities for establishing SUD reprocessing* business in the areas of manufacturing, distribution, collection, and sales, in light of projections that the demand for SUD reprocessing is expected to increase in Japan due to its cost advantage and effective resource utilization as well as its positive impact on environmental conservation.

    *SUD Reprocessing refers to the collection, testing, disassembling, decontamination, and sterilization of used Single Use Devices (SUD) and reprocessing them into SUDs that can be resold for the same purpose as their original use. Japan's Ministry of Health established new regulations for the reprocessing business on July 31, 2017.

    3. Developing Next Generation Management Support Solutions for Acute Care Hospitals
    Draw on the customer base and know-how established and cultivated by both companies to develop new generation management support solutions that will contribute to improving the management of the whole supply chain at acute care hospitals.

    About Mitsubishi Corporation

    Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.

    Contact:
    Mitsubishi Corporation Telephone:+81-3-3210-2171 Facsimile:+81-3-5252-7705

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    TOKYO, Mar 28, 2018 - (JCN Newswire) - Eisai Co., Ltd. and Nichi-Iko Pharmaceutical announced today that they have entered into a strategic alliance agreement as well as a share transfer agreement for a capital and business alliance, aiming to expand and grow the generic pharmaceutical business and bring about increased profit for both companies by leveraging the assets and strengths of both companies to their full potential and maximizing synergies.

    Under the agreement, Eisai will transfer all shares of Eisai's wholly-owned subsidiary Elmed Eisai Co., Ltd. to Nichi-Iko incrementally in accordance with progress of the strategic alliance agreement, and both companies will promote cooperation in building Eisai's Total Inclusive Ecosystem as well as collaboration on the active pharmaceutical ingredient (API) business promoted primarily at Eisai's Vizag Plant in India.

    1. Capital and Business Alliance to Revolutionize the Generic Pharmaceutical Business Model

    Elmed Eisai was established as a wholly-owned subsidiary of Eisai in 1996, and with the concept of developing value-added generic drugs that are accessibly priced and easy for patients to administer, has been contributing to the uptake and expansion of generic pharmaceuticals under a co-promotion structure with Eisai.

    Nichi-Iko leads the generic pharmaceutical industry as one of Japan's largest generic manufacturers, and since its establishment in 1965, has been expanding its core business of manufacture and sales of cost-effective pharmaceuticals that respond to people's hopes for a healthy life. Currently, Nichi-Iko is aiming to become a top 10 global generic pharmaceutical manufacturer through initiatives such as thoroughly implementing the three core strategies of Power of Expansion, Power of Production, and Power of Development from its 7th Medium-term Business Plan "Obelisk" as well as "Profit Management Plan 2019" for sustained cost improvement.

    With the business environment surrounding the generic pharmaceuticals business undergoing significant changes, as one of Japan's largest generic manufacturers, Nichi-Iko will take a capital stake in Elmed Eisai, and the two companies will integrate their strengths such as Nichi-Iko's rich product lineup and Power of Production together with Elmed Eisai's techniques for manufacturing value-added generic drugs to realize Market Expansion and lower costs by expanding scale, aiming to revolutionize the generic pharmaceutical business model and reinforce business foundation.

    Taking this business integration as an opportunity, the two companies intend to create new generic pharmecutical business models through high quality value-added generic drugs in order to contribute to more patients.

    2. Establishment and Promotion of Total Inclusive Ecosystem

    Eisai is building a platform which has as its core Eisai's ability to hear the true needs of patients and design solutions to them, and ability to propose outcomes based on medical data including clinical trial data and real world data as well as access strategies. Aiming to create patient value, Eisai is loading various kind of content onto this platform and expanding its Total Inclusive Ecosystem that delivers various solutions such as pharmaceuticals to all of its stakeholders including patients.

    Through the agreement, Nichi-Iko, who has a wide range of generic pharmaceuticals, will be added as a content provision partner. This will enhance the Total Inclusive Ecosystem for dementia, liver disease and other diseases, as well as further expand contribution to patients in regional healthcare. With the promotion of these strategies, Nichi-Iko expects to further strengthen its Power of Development for new markets such as comprehensive community care.

    3. Leveraging High Quality Price Competitive API

    Eisai has been expanding its API supply business which focuses on high quality price competitive API by maximizing its use of the various functions of the Vizag Plant in India, including research and development, manufacturing, quality management and audit. The Vizag Plant has high quality manufacturing capacity that is already compliant not only with Japan's quality standards but also with the high quality standards of WHO, and has proven its ability to demonstrate competitiveness on price.

    In Nichi-Iko's Profit Management Plan 2019 as well, it is thought that Eisai's superior API supply will greatly contribute to the achievement of this plan.

    Under the agreement, Eisai will promote collaboration on superior API supply with Nichi-Iko on various points such as price, quality and stable supply. For Nichi-Iko's development of new products as well, Eisai's API development ability and manufacturing techniques will be utilized to further improve efficiency and reliably make submissions as well as obtain approval.

    Through the above, the two companies will use generic drugs that can achieve unprecedented high quality and stable supply to fulfill their conbtribution to medicine.

    After discussing the conditions and other details in the near future, from October 2018, Eisai will commence co-promotion of Nichi-Iko's products, and Nichi-Iko will commence co-promotion of Elmed Eisai's products.

    Eisai is scheduled to transfer 20% of the outstanding shares issued in its wholly-owned subsidiary Elmed Eisai to Nichi-Iko on April 2, 2018, when the strategic alliance agreement is initiated. This will make Elmed Eisai an affiliated company accounted for by the equity method for Nichi-Iko. Upon condition that certain progress has been achieved by the two companies in the aforementioned strategic alliance agreement, Eisai is scheduled to transfer 13.4% of shares to Nichi-Iko on October 1, 2018 (planned) and all remaining shares on April 1, 2019 (planned). Once all these transactions are executed, Elmed Eisai will be a wholly-owned subsidiary of Nichi-Iko.

    The impact of the agreement has no impact on the financial results for fiscal 2017 for either company.

    About Nichi-Iko Pharmaceuticals Co., Ltd.

    Since the establishment of Nichi-Iko Group in 1965, Nichi-Iko has steadily developed its business to contribute to people's health and quality of life by manufacturing high-quality, cost-effective pharmaceuticals. Our mission is to provide value-added, high quality generic products which meet the needs of patients, doctors, pharmacists, wholesalers and pharmaceutical companies in the global market as one of the most respected, well established generic companies in the world. In working to fulfil this mission, we seek to earn the trust and respect of all our stakeholders and to be the first choice for our customers.

    More patient-friendly, more patient-choice, more high-quality. That is what we mean by Premium Quality. And Premium Quality underpins our commitment to becoming a global Top 10 leader in generic pharmaceuticals.

    About Elmed Eisai Co., Ltd.

    Elmed Eisai Co., Ltd., a wholly-owned subsidiary of Eisai Co., Ltd., was established in April 1996 with the aim of contributing to patients through the provision of value generics. At the time of establishment, the progression in declining birthrate and aging of society as well as the steep increase in medical expenditures was the background to the goal of creating medicine that was cost-effective and easy for elderly patients to use (the company's name comes from the words "elderly medicine"), and the company has been developing and supplying value-added pharmaceuticals ever since. Currently, Elmed Eisai is working on its generic business to improve the Quality of Life of all people.

    About Eisai

    Eisai Co., Ltd. (TSE:4523; ADR:ESALY) is a research-based human health care (hhc) company that discovers, develops and markets products throughout the world. Eisai focuses its efforts in three therapeutic areas: integrative neuroscience, including neurology and psychiatric medicines; integrative oncology, which encompasses oncotherapy and supportive-care treatments; and vascular/immunological reaction. Through a global network of research facilities, manufacturing sites and marketing subsidiaries, Eisai actively participates in all aspects of the worldwide healthcare system. For more information about Eisai Co., Ltd., please visit www.eisai.com.

    Contact:
    Public Relations Department, Eisai Co., Ltd. +81-3-3817-5120

    Copyright 2018 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Ready to Tap Enormous Growth Potential in Market

    HONG KONG, Mar 28, 2018 - (ACN Newswire) - Risecomm Group Holdings Limited ("Risecomm" or the "Group") (Stock Code: 1679), the third-largest power-line communication ("PLC") technology company in China , has announced its audited consolidated annual results for the year ended 31 December 2017 (the "Review Year"), the first full-year annual results after its listing on the Main Board of The Stock Exchange of Hong Kong Limited on 9 June 2017. Despite the temporary slowdown in the Automated Meter Reading ("AMR") market in China, the Group has successfully seized the rising business opportunities in streetlight control devices and concentrators for streetlight controls. Thus, the Group recorded an encouraging performance of the smart energy management ("SEM") business segment with the segmental revenue surged 63.8%.

    The year 2017 has been a transitional year as AMR applications transit from narrowband to broadband PLC industry standard. As a result, a temporary slowdown in market demand hampered the overall industry performance, so the Group's AMR business also adjusted accordingly. During the Review Year, overall revenue of the Group amounted to about RMB317 million and gross profit was about RMB146 million. Gross profit margin of the Group was 45.9%. Excluding the one-off and non-recurring listing expenses of about RMB12.9 million, adjusted profit attributable to the equity shareholders of the Company was about RMB25.59 million, adjusted net profit margin was 8.1% and adjusted basic earnings per share were RMB3.5 cents.

    The year 2017 was a year of special significance for Risecomm. The listing provides a broader capital platform for the Group and the Group has also consolidated its foothold in the PLC market. Although the growth pace of the AMR market slowed down which brought challenges for its operation, the Group's strategy of expanding its SEM business segment paid off, as this segment grew over 60%. The Group will strengthen its product development capability continuously in order to lay a solid foundation for its sustained growth.

    Business Review
    During the Review Year, the Group's two major business segments were the AMR business and the SEM business, occupying 93.0% and 7.0% of its total revenue respectively.

    AMR Business Segment
    As the penetration of smart meters under State Grid's first-round commercial deployment is reaching saturation and it is transiting to the new industry standard for broadband PLC, so the procurement pace of smart meters was slower than expected, resulting a delay in delivery of confirmed orders. Therefore, the aggregate sales volume of PLC ICs and PLC modules in the AMR business decreased to about 8.7 million units and segmental revenue amounted to about RMB295 million.

    SEM Business Segment
    The Group has been expanding its product coverage to the SEM sector. Benefitting from notable growth in sales of streetlight control devices and concentrators for streetlight controls, revenue of this segment surged 63.8% to about RMB22.2 million.

    With a national strategy of "Made in China 2025" and "Industry 4.0" to upgrade manufacturing promoted by the PRC government, as petrochemical enterprises are at the forefront of the manufacturing sector and the favorable government policy for petrochemical industry will further facilitate the information systems in the industry, the Group intends to enter this market in order to tap its enormous growth potential. Towards that end in December 2017, the Group has entered into a conditional sales and purchase agreement in relation to acquisition of the entire equity interest in a company. The company which indirectly owns a group of companies is principally engaged in the field of industrial automation systems, particularly in the area of maintenance and safety integrity systems for the petroleum and petrochemicals industries. Upon completion, the Group believes the acquisition can bring potential synergies and benefits that can serve to expedite the expansion of its non-AMR revenue contribution to achieve a more balanced revenue composition and customer base.

    Prospects
    Looking ahead to 2018, the Group is optimistic about the development of its businesses. As one of the largest PLC IC suppliers in China , the Group will continue to implement the established development principles, devote more research and development ("R&D") resources and provide a full range of products and solutions across its AMR business and its SEM applications in a bid to drive sustainable growth of its businesses.

    With respect to the AMR business, the bidding volume of smart meters under the State Grid is expected to pick up as the meters begin a new phase of upgrades from 2018 onward. The management is confident that the demand will soon recover once the deployment of broadband PLC products is affirmed. Moreover, the Group has entered into a conditional sales and purchase agreement with a company in March 2018 in relation to acquisition of its entire equity interest. This company owns a company which is principally engaged in sales and distribution of electronic components, in particular for ICs and related products in China. The Group considers this acquisition to be aligned with its business strategy in respect of its expansion in AMR business markets. Leveraging its strong capability in the PLC technology and R&D, the Group will strive its utmost to capture greater market share.

    As for SEM, the Group considers PLC-based SEM systems to have significant market potential particularly in industrial and enterprise applications as PLC technology offers higher stability and cost effectiveness for remote control and monitoring of energy consumption systems distributed over an extended land site or multiple buildings. The Group plans to further invest in other areas of the SEM business to capture market opportunities in order to expand its customer base and create new revenue sources.

    Regarding R&D, the Group will continue to focus on enhancing the functionality of its products and addressing the technical needs of its customers, as well as expanding its product portfolio for different PLC applications. Furthermore, the Group has collaborated with several external R&D consultants in various research and development efforts, including those for the development of broadband PLCs and the driver implementation of its second-generation PLC ICs and software modules to complement its mainframe host station development for the AMR and SEM businesses. These efforts should enable the Group to stand out in the fiercely competitive market environment.

    Looking ahead, the Group will continue to enhance its PLC IC design, its R&D capability in PLC technology and its sales efforts in order to enhance its brand recognition in both AMR & SEM markets. With extensive industry experience and a proven track record, the Group will capture the opportunities arising from the new industry standards for broadband PLC while broadening its SEM market, with the aim of generating greater value for shareholders.

    About Risecomm Group Holdings Limited
    Founded in 2006, Risecomm Group Holdings Limited is a power line communications (PLC) technology company specializing in the design,development and sale of system-on-chip ICs, modules, devices and solutions adopting the PLC technology. As one of China's largest PLC technology companies, the Group's core competence is the development of application-specific integrated circuits (ASICs) and its proprietary ASICs are embedded in all of its PLC products. With the support of a strong R&D team and abundant resources, the Group continues to pursue technological innovation. The Group's PLC products are used mainly by the power grid companies in China. It is one of the first PLC technology companies to have AMR products commercially deployed in State Grid's AMR systems. In 2016, the Group's AMR products were commercially deployed by the State Grid in 23 out of the 26 provinces in China that the grid covers. At the same time, the Group is the largest PLC solutions provider for streetlight control in China, and also provides various PLC products and solutions for a number of applications related to energy saving and environmental protection. For more details about Risecomm, please visit website: http://www.risecomm.com.cn/en/.

    Media Enquiries:
    Strategic Financial Relations Limited
    Heidi So Tel: (852) 2864 4826 Email: heidi.so@sprg.com.hk
    Cecilia Shum Tel: (852) 2864 4890 Email: cecilia.shum@sprg.com.hk
    Boni Liu Tel: (852) 2864 4870 Email: boni.liu@sprg.com.hk
    www.sprg.com.hk


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Profit for the Year Attributable to Owners of the Company Up 398.7% to US$41.6 Million

    HONG KONG, Mar 28, 2018 - (ACN Newswire) - Jinchuan Group International Resources Co. Ltd (the "Company", together with its subsidiaries, collectively referred to "the Group" or "Jinchuan International", Stock Code: 2362.HK) today announced its annual results for the year ended 31 December 2017 ("Year Under Review"). The revenue for the year ended 31 December 2017 was US$549.2 million, representing an increase of 50.5% compared with US$364.8 million for the year ended 31 December 2016. Revenue of the Group's mines reported at US$449.2 million and increased by 71% from 2016. The copper mining revenue increased by 28% from 2016 to 2017, as a result of higher price. 2017 copper production volume was comparable to the 2016 production volume. The cobalt revenue increased by 221% from 2016 to 2017 as a result of higher cobalt price as well as an increase in cobalt production volume. The trading of mineral and metal products segment recorded a decrease in revenue from sales of copper related raw materials by 3.6% from US$101.7 million for the year ended 31 December 2016 to US$98 million for the year ended 31 December 2017. New revenue generated from inventory financing relating to non-ferrous metal commodities which was initiated in late 2016. Profit attributable to the owners of the company was US$41.6 million (2016: profit of US$8.3 million). Basic earnings per share was 0.89 US cents (2016: earnings of 0.19 US cents). The Directors do not recommend final dividend for the year ended 31 December 2017 (2016: Nil).

    The Group's Mineral Resources as at 31 December 2017 are estimated to contain 4,462kt copper and 362kt cobalt. Ruashi Mine contains 571kt copper and 75kt cobalt; Chibuluma South Mine contains 106kt copper; Kinsenda Project contains 1,140kt copper; Musonoi Project contains 868kt copper and 287kt cobalt; and Lubembe Project contains 1,777kt copper. The Group's Mineral Reserves as at 31 December 2017 are estimated to contain 484kt copper and 26kt cobalt. Ruashi Mine contains 170kt copper and 26kt cobalt; Chibuluma South Mine contains 33kt copper; and Kinsenda Project contains 281kt copper.

    During the year, the Company issued 483,000,000 new shares by way of subscription at the price of HK$0.80 per subscription share to SD Hi-Speed Investment HK Limited (the "Subscriber"), and raised gross proceeds of approximately HK$386,400,000. The said subscription of shares was intended to serve as a strategic cooperative partnership between the Group and the Subscriber, whereby the Group has leveraged on the additional funding from the subscription to strengthen its financial position and enhance its funding liquidity for internal operations, while further broadening the shareholder base and capital base of the Group. The net proceeds has been also used for general working capital purposes.

    Management team of Jinchuan International said, "The recovery of copper and cobalt prices during 2017 has given rise to positive impact on our overall financial performance for the period under review. Beside, through technological reform, continuous optimization of economy and reducing operating costs, the Group was able to achieve more profit in 2017 as compared with last year. Moreover, the Group has strengthened its capital base upon the subscription of shares to SD Hi-speed during 2017. As for its mines, apart from the operating mines of Ruashi Mine and Chibuluma South Mine in the Group's African mining operations, Kinsenda Project had finished its commissioning of concentrator. Establishment of key systems including pre-dewatering, ventilation and backfill systems are in progress to ensure the target for production with full capacity. Kinsenda will be in production from early 2018. Musonoi Project, a quality copper and cobalt property, is gaining momentum for its project progress. The Group will continue to work on the site establishment work. "

    BUSINESS REVIEW

    Mining Operations
    The Group's mining operations is represented by the Metorex Group, which is headquartered in South Africa. Metorex Group has majority control over two operating mines in Africa which are Ruashi Mine, a copper and cobalt mine located in the DRC and Chibuluma South Mine (including the Chifupu deposit), a copper mine located in Zambia. For the year ended 31 December 2017, the Group produced 42,512 tonnes of copper (2016: 42,587 tonnes) and 4,638 tonnes of cobalt (2016: 3,391 tonnes), and sold 42,443 tonnes of copper (2016: 43,083 tonnes) and 4,677 tonnes of cobalt (2016: 3,264 tonnes) which generated sales of US$263 million and US$186.2 million respectively (2016: US$205.2 million and US$58 million respectively). Copper production was comparable to 2016. The significant increase in cobalt production was mainly because of technological reform and optimization and higher cobalt feed grade.

    Metorex Group also has control over Kinsenda Project, a development copper project which commence trial-production stage at the end of 2017 in the DRC, and Musonoi project, a copper and cobalt project in feasibility study stage, and Lubembe project, a copper project in exploration stage.

    Trading of Mineral and Metal Products
    For the year ended 31 December 2017, Golden Harbour International Trading Limited (a wholly-owned subsidiary of the Group, "GHL") purchased and sold a total of 16,141 tonnes (2016: 19,969 tonnes) of copper blister. The revenue from sales of copper blister for the year ended 31 December 2017 amounted to US$98 million (2016: US$96.3 million). The copper blister was sourced from a Zambian producer under a renewed annual contract for 20,000 tonnes in 2017. The volume of copper blister shipped during 2017 decreased by 19% as compared to 2016. The copper blister was sold in China directly.

    The zinc repurchase business that GHL started in late 2016 intended as a low-risk trading business which purchases physical zinc and hedges the market risk with London Metal Exchange futures. For the year ended 31 December 2017, GHL traded zinc repo trading products. The profit from zinc repo business for the year ended 31 December 2017 amounted to US$0.27 million.

    Management team of Jinchuan International concluded, "As commodities price rose on more positive macroeconomic data, cobalt price had increased significantly as a result of growing new energy vehicle and battery market during 2017. Copper and cobalt prices are anticipated to show a steady to optimistic outlook in medium to long term. The Group is committed to explore ore resources within our own mine site as well as surrounding areas that could extend the mine life and increase output and production volumes to achieve the growth. Meanwhile, the Group has been actively pursuing other suitable copper or cobalt projects to capture opportunities for strategic development. With a solid financial foundation, the Group also plans to leverage on its parent company, Jinchuan Group's strengths and experience to capitalize the growth in demand of commodities market. The Group remains confident in delivering attractive returns to the Company's shareholders in the long run."

    About Jinchuan Group International Resources Co. Ltd
    Jinchuan International is a Hong Kong listed company established by the Jinchuan Group Co., Ltd for the purposes of accelerating the establishment of the mining group's multinational operational strategy and elevating Jinchuan Group's global investing, financing and operating capabilities. By virtue of Hong Kong's advantages as an international financial and trade center, and through the Company's focus on an internationalized operating strategy, the Company has established itself as the flagship platform for the Jinchuan Group to develop its overseas non-ferrous metal mining business. The Company is primarily engaged in the development of overseas mining resources projects, capital operation and assets management of overseas mining resources projects, as well as trading of raw materials and products of nickel, copper, cobalt and precious metals.

    About Jinchuan Group Co., Ltd
    Jinchuan Group Co., Ltd, founded in 1958, is a state-owned enterprise with its majority interest held by the People's Government of Gansu Province. Jinchuan Group specializes in mining, concentrating, metallurgy, chemical engineering and further downstream processing. Jinchuan Group is widely recognized as a renowned mining corporation and is the fourth largest nickel producer and second largest cobalt producer in the world and the third largest copper producer in the PRC.

    Media Contacts:
    Angel Yeung
    Jovian Communications
    Tel: +852 2581 0168
    Fax: +852 2854 2012
    Email: jinchuan@joviancomm.com


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    CLEVELAND, Ohio, Mar 28, 2018 - (ACN Newswire) - The Lubrizol Corporation announces the unveiling of its unique Innovation Alliance network which occurred as the recent ISPO 2018 held in Munich, Germany. This Innovation Alliance is focused on driving remarkable growth of X4zol(TM)-J, the company's revolutionary elastomeric fiber into the performance apparel market.

    X4zol-J is made from a proprietary thermoplastic polyurethane (TPU) resin that provides 360-degree stretch and breathability for superior apparel fit and comfort. X4zol-J is available exclusively from Lubrizol and its Innovation Alliance network, supporting circular, warp knit and denim fabrics, and seamless garments. The Innovation Alliance includes visionary industry leaders who are experts in fabric innovation and garment development, including:

    - Ruey Tay - Circular/warp knits
    - Schoeller - Circular/warp knits and woven fabrics
    - Olah, Inc. - Cotton-rich woven fabrics (including denim)
    - Tefron - Seamless and bodysize garments
    - ChangYuan Elastan - Spinning development partner (Asia)
    - Stretchline - Narrow elastics
    - Premiere Fibers - Spinning development partner (N. America)
    - Hornwood Inc. - Circular/warp knits
    - Filix Creative Solutions
    - MAS Innovations

    "Being an Innovation Alliance Partner aligns with the core principles of Premiere Fibers," states John Amirtharaj, president, Premiere Fibers, Inc. "We believe that collaborative development throughout the supply chain creates unique solutions, results in improved speed to market and transforms conventional vendor/client relationships into trusted partnerships."

    "ISPO was the perfect venue to showcase our Innovation Alliance network as it allowed us to solidify our position as a global resource to existing customers, while exposing many new brands to a very powerful manufacturing model that drives innovation and value," notes Wesley Horne, president, Hornwood Inc.

    Rob Richardson, global business director, Performance Apparel/Fibers at Lubrizol adds, "As part of our core strategy, Lubrizol collaborates with key brands, designers and industry experts to provide differentiated apparel solutions. ISPO was an ideal venue for promoting our apparel technology solutions, and the perfect platform to unveil our Innovation Alliance network. This network is the result of many years of hard work, identifying key supply chain partners that fit our vision and mission for X4zol-J, namely fabric and apparel innovation. We're proud to serve this fast-moving market alongside such a distinguished and select group of fabric, narrow elastic and garment experts that collectively can provide rapid innovation and comprehensive solutions from polymer to fiber to fabric and finally to garment."

    To learn more about Lubrizol's innovative elastomeric fiber, X4zol-J, or its Innovation Alliance network, please visit www.x4jfiber.com or email x4j@Lubrizol.com.

    About Lubrizol Engineered Polymers

    Lubrizol Engineered Polymers offers one of the broadest portfolios of engineered polymers available today including resins that are bio-based*, recyclable**, light stable, flame retardant, adhesive, chemically resistant, optically clear and fast cycling. Our technology crosses many industries and applications, including surface protection, power and fluid systems, sports and recreation, wearable devices, electronics and automotive. For more information, visit www.lubrizol.com/engineered-polymers or contact engineeredpolymers@lubrizol.com.

    About The Lubrizol Corporation

    The Lubrizol Corporation, a Berkshire Hathaway company, is a market-driven global company that combines complex, specialty chemicals to optimize the quality, performance and value of customers' products while reducing their environmental impact. It is a leader at combining market insights with chemistry and application capabilities to deliver valuable solutions to customers in the global transportation, industrial and consumer markets. Lubrizol improves lives by acting as an essential partner in our customers' success, delivering efficiency, reliability or wellness to their end users. Technologies include lubricant additives for engine oils, driveline and other transportation-related fluids, industrial lubricants, as well as additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for home care, personal care and skin care products and specialty materials encompassing polymer and coatings technologies, along with polymer-based pharmaceutical and medical device solutions.

    With headquarters in Wickliffe, Ohio, Lubrizol owns and operates manufacturing facilities in 17 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 8,700 employees worldwide. Revenues for 2017 were $6.3 billion. For more information, visit Lubrizol.com.

    *Bio-based content as certified in accordance with ASTM D-6866.
    **Recyclability is based on access to a readily available standard recycling program that supports such materials. Products may not be available in all areas.

    All marks are owned by The Lubrizol Corporation.

    Media Contacts
    Michael Priola
    +1 216 447-5697

    Websites
    www.x4jfiber.com
    www.lubrizol.com/engineered-polymers
    www.lubrizol.com

    ###

    This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
    The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
    Source: Lubrizol via Globenewswire

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    MONACO, PRINCIPALITY OF MONACO and NEW YORK, NY, Mar 28, 2018 - (ACN Newswire) - Lyfebulb, a patient empowerment platform that connects patients, industry and investors to support user-driven innovation in chronic diseases, and Helsinn, with activities focused on early-stage investments in areas of high unmet patient need, today announced that Lorenzo Pradella of GreenBone Ortho, srl and Gitte Pedersen of Genomic Expression, Inc. have been chosen as winners of the first ever Lyfebulb-Helsinn Innovation Awards in Oncology. In addition, Aaron Horowitz of Sproutel, Inc. received a special recognition award from the jury.

    "The innovation demonstrated by all eleven finalists exemplifies how the insights of personal experience can combine with entrepreneurial skills to create solutions which will improve the lives of people affected by cancer. In my mind, all finalists are winners in the Patient Entrepreneur category," said Dr. Karin Hehenberger, MD, PhD and CEO and Founder of Lyfebulb.

    Eleven finalists were invited to compete at the Lyfebulb-Helsinn Innovation Summit & Award in Oncology event, which was hosted on March 26th and 27th, 2018, by Lyfebulb and Helsinn at the Monte-Carlo Bay Hotel and Resort, in Monaco. Over the course of the summit, the finalists presented their businesses to an independent, curated panel with expertise in oncology.

    Helsinn Group Vice Chairman and CEO Riccardo Braglia commented, "The expert panel has chosen worthy winners. I know Lorenzo and Gitte's ideas have the potential to make real progress in areas of unmet patient need, and to make a difference to those living day-to-day with cancer. Helsinn is proud to support innovation of this quality and we hope that this award will inspire a generation of patient entrepreneurs to come forward with similar levels of enthusiasm."

    Mr. Pradella of GreenBone Ortho, srl has built a business that develops highly innovative, wood-derived, biometric and re-absorbable bone implants to repair critical defects in load bearing and non-loaded bones, which product can be used for cancer related bone loss. In winning the LBH Award, GreenBone Ortho, srl will receive a $25,000 monetary grant in recognition of its pioneering product.

    Ms. Pedersen of Genomic Expression, Inc. has developed a diagnostic business that identifies the ideal drug for a patient and the ideal patient for the drug by sequencing RNA. Genomic Expression will receive the LBH Award by Denise LePera and Dr. Stephen Squinto, also a $25,000 monetary grant.

    Finally, the jury created a special recognition award for Aaron Horowitz of Sproutel, Inc., who has created play-based healthcare innovations for children afflicted with disease, specifically the My Special Aflac Duck(TM) for children with cancer.

    The LBH Award recognizes outstanding potential among entrepreneurs who have demonstrated an ability to develop and bring to the market innovation, using drugs, medical devices, consumer products and healthcare information technologies, designed to improve the quality of life of people with cancer. The LBH Award by Denise LePera and Dr. Stephen Squinto, derived from the generous donation by the couple, was added to the Summit to provide additional recognition among a highly talented pool of finalists:

    - Samuel Wagner of Batu Biologics, Inc
    - Massimo Bocchi of Cellply Srl
    - Walid Al-Akkad of Engitix Ltd
    - Gitte Pedersen of Genomic Expression, Inc
    - Lorenzo Pradella of GreenBone Ortho, srl
    - Samir Housri of TheMednet, Inc
    - Till Erdmann of Myelo Therapeutics GmbH
    - Christian Apfel of SageMedic, Inc
    - Aaron Horowitz of Sproutel, Inc
    - Thierry Desjardins of Surgisafe Ltd
    - Boaz Gaon of Wisdo Ltd

    About Lyfebulb

    Lyfebulb is a chronic disease focused, patient empowerment platform that connects patients, Industry (manufacturers and payers) and investors to support user-driven innovation. Lyfebulb promotes a healthy, take-charge lifestyle for those affected by chronic disease. Grounded with its strong foundation in Diabetes, the company has expanded disease states covered into Cancer and Inflammatory Bowel Disease.

    See www.lyfebulb.com, Facebook, Twitter, Instagram, Karin Hehenberger LinkedIn, and Lyfebulb LinkedIn.

    About Helsinn International Services sarl

    Helsinn International Services sarl is the Helsinn subsidiary which provides a range of advisory services and strategic activities to the Group and its specific companies. In particular, it acts as the advisory company to Helsinn Investment Fund.

    About Helsinn Investment Fund S.A., SICAR

    The Helsinn Investment Fund is focused on early-stage investments in areas of high unmet patient need. Backed by the Helsinn Group, and guided by Helsinn's core values of quality, integrity and respect, Helsinn Investment Fund aims to help companies with innovative technologies to transform new ideas into commercial solutions with the potential to impact health-related quality of life of patients.

    Drawing on Helsinn's over 40 years of investment into research and development and commercial expertise, the investment fund selects companies with technologies in a range of areas including cancer therapeutics and diagnostics, cancer supportive care, metabolic and gastrointestinal disorders, and dermatology conditions.

    For more information, visit www.helsinninvestmentfund.com

    About the Helsinn Group

    Helsinn is a privately owned pharmaceutical group with an extensive portfolio of marketed cancer care products and a robust drug development pipeline. Since 1976, Helsinn has been improving the everyday lives of patients, guided by core family values of respect, integrity and quality. The Group works across pharmaceuticals, biotechnology, medical devices and nutritional supplements and has expertise in research, development, manufacture and the commercialization of therapeutic and supportive care products for cancer, pain and inflammation and gastroenterology. In 2016, Helsinn created the Helsinn Investment Fund to support early-stage investment opportunities in areas of unmet patient need. The company is headquartered in Lugano, Switzerland, with operating subsidiaries in Switzerland, Ireland, the U.S., Monaco and China, as well as a product presence in approximately 190 countries globally.

    To learn more about Helsinn Group please visit www.helsinn.com

    For more information:
    Helsinn Group Media Contact
    Paola Bonvicini
    Group Head of Communication
    Lugano, Switzerland
    Tel: +41 (0) 91 985 21 21Info-hhc@helsinn.com

    For more information, please visit www.helsinn.com and follow us on Twitter, LinkedIn and Vimeo.

    Press Contact for Lyfebulb:
    Karin Hehenberger, MD, PhD
    CEO & Founder, Lyfebulb,
    Phone: + 00 1 917-575-0210
    Email: karin@lyfebulb.com

    Please visit www.lyfebulb.com
    We are on Twitter. Follow us @Lyfebulb

    ###

    This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
    The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
    Source: Helsinn Healthcare SA via Globenewswire

     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Net Profit Amounts to RMB131.3 Million; Distributes Final Dividends of RMB0.08 Per Share (tax inclusive)

    HONG KONG, Mar 28, 2018 - (ACN Newswire) - Luzhou Xinglu Water (Group) Co., Ltd. ("Xinglu Water" or the "Company", stock code: 2281) announced the audited consolidated annual results for the year ended 31 December 2017 (the "Reporting Period"). During the Reporting Period, profit attributable to owners of the Company amounted to approximately RMB131.3 million and basic earnings per share amounted to approximately RMB0.16. The Board proposed the payment of final dividends of RMB0.08 per share (tax inclusive).

    For the Reporting Period, revenue of the Company increased by 29.4% to RMB1,081.7 million. The performance of tap water supply witnessed solid growth with revenue from this sector increasing by 65.2% to RMB875.3 million. Revenue from wastewater treatment was RMB206.4 million. The overall gross profit of the Company was up 18.1% to RMB253.5 million while gross profit margin was 23.4%.

    Tap water supply continued to experience strong performance
    As at the end of the Reporting Period, the Company owned eight tap water plants with a daily supply capacity of approximately 425,500 tons in aggregate, representing an addition of two plants and approximately 145,000 tons of daily supply capacity in aggregate from the same period of 2016. The average utilisation of tap water plants during the Reporting Period stood at 84.2%. Benefiting from population and economic growth of Luzhou, total sales of water increased by 15.3% from approximately 82.4 million tons for 2016 to approximately 95.0 million tons for 2017. Total number of end users of tap water increased from 262,730 for the year ended in 2016 to 335,703 as of the end of the Reporting Period. Qiancao Supply Plant II with designed capacity of 95,000 tons per day has been in trial operation in December 2017.

    As at the end of the Reporting Period, the Company owned nine operating wastewater treatment plants with a daily treatment capacity of approximately 261,000 tons in aggregate. The average load rate of wastewater treatment plants stood at 63.3% during the Reporting Period. Daily wastewater treatment capacity increased by 23.8% from approximately 48.7 million tons for 2016 to approximately 60.3 million tons for 2017.

    As the biggest water service provider in Luzhou Area, with development opportunities in water industry, in 2018, Xinglu Water will prioritise the ideology-driven transformation and development as the core task, and will follow the guideline of "work style reform, efficiency improvement, execution strengthening and quality assurance". It will align its development and future plans with external environment changes and industry characteristics, and optimise the Company's strategies, water supply and drainage segments, business structure and financing channels. While actively participating in the construction and development of water resources industry, the Company will adopt the approach that "leverage the key segment to build a well-structured network", and gradually develop other regional markets of water supply and drainage, thus realising cross-region development and diversified business operation.

    Mr. Zhang Qi, Chairman of the Board of Xinglu Water, said: "Xinglu Water was successfully listed on the main board of The Stock Exchange Of Hong Kong Limited in March 2017, which was the milestone for the development of the Company. Looking forward, we will seize the tremendous opportunities in the market, and gradually build a business pattern comprising 'one staple, two supplements and three sidelines'. Focusing on the water supply and drainage, the Company will seek vertical and horizontal development in the industry chain and improve its market expansion capabilities in water supply and drainage design, construction and operation of piping network, measurement technology, sludge treatment and technology consultation on water supply and drainage. While vigorously promoting the construction of smart enterprise, it will grow the supplements and sidelines into stronger segments.

    We will also innovate on our management style, control cost by leveraging technology innovation and explore new core technologies of the water industry relentlessly. We will collaborate with research teams of universities to initiate projects about water environment treatment, sludge treatment and garbage disposal. By doing so, the Company will cultivate its core competitiveness, which will be conducive to the sustainable development and help the Company to grow into nationally leading and integrated water service provider with reasonable structure, efficient management and standardised operation.

    Leveraging on our previous successful experience and the leading position in the market in Luzhou Area, we believe that following the successful listing, the development of the Company will step up to next level and bring the best return to its shareholders."


     
    Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com

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