JUMBO Revenue Increases 2.9% to $35.8 Million in Q3 FY2018

August 13, 2018, 10:30 pm

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- Revenue bolstered by China operations, mainly due to contributions from two new outlets in Beijing and Shanghai and opening of Xi'an outlet
- Intends to continue expansion of brands in both Singapore and other major Asian cities

SINGAPORE, Aug 14, 2018 - (ACN Newswire) - JUMBO Group Limited ("JUMBO", SGX:42R), one of Singapore's leading multidining concept food and beverage ("F&B") establishments, today announced revenue of $35.8 million for the three-month period ended 30 June 2018 ("Q3 FY2018"). This was an increase of 2.9% or $1.0 million from $34.8 million in the previous corresponding period ("Q3 FY2017").

The increase in revenue was mainly due to an increase in revenue contribution from the People's Republic of China ("PRC") operations. Revenue from the Group's JUMBO Seafood outlets in the PRC increased by $1.8 million mainly due to full quarter revenue contribution from two new outlets in Beijing and Shanghai and the opening of the Xi'an outlet in May 2018. This offsets the decrease in revenue of $0.8 million from the Group's Singapore operations, due to the closure of two NG AH SIO Bak Kut Teh outlets in March and April 2018, as well as the JPOT outlet in Parkway Parade in September 2017. Revenue from the Singapore JUMBO Seafood outlets remained relatively stable in the quarter under review.

Cost of sales which comprised of raw materials and consumables used, increased by 5.0% from $13.0 million in Q3 FY2017 to $13.6 million in Q3 FY2018, in line with the increase in the Group's revenue.

For the period under review, gross profit increased by 1.7%, from $21.8 million in Q3 FY2017 to $22.2 million in Q3 FY2018, due to the increase in revenue. Gross profit margin was lower at 62.0% in Q3 FY2018 as compared to 62.7% in Q3 FY2017, mainly due to higher fresh seafood costs and promotional prices for the Group's new JUMBO Seafood outlets in Xi'an and Shanghai, the PRC.

To support JUMBO's regional expansion, there was an increase in the number of employees for its new outlets in the PRC as well as an overall increase in headcount of the corporate head offices in Singapore and the PRC, which resulted in employee benefits expense increasing by 9.8% or $1.0 million, from $10.3 million in Q3 FY2017 to $11.3 million in Q3 FY2018.

Operating lease expenses remained relatively stable at $3.5 million in Q3 FY2018 and Q3 FY2017. Other operating expenses increased by 40.6% or $1.1 million, from $2.7 million in Q3 FY2017 to $3.8 million in Q3 FY2018 mainly due to the increase in the number of outlets, the expansion of JUMBO's PRC corporate office as well as marketing expenses relating to the Group's 30th anniversary celebrations.

As a result of the above, profit attributable to owners of the Company decreased from $3.4 million in Q3 FY2017 to $2.2 million in Q3 FY2018.

JUMBO continues to make headway in its overseas expansion plans. Earlier in May 2018, the Group opened its first JUMBO Seafood outlet in Xi'an at the Xi'an SKP, a newly-opened luxury shopping mall. This is the Group's sixth JUMBO Seafood outlet in the PRC, and the first outside of Shanghai and Beijing.

Last month, the Group also announced the opening of its first franchise outlet for the NG AH SIO Bak Kut Teh brand in Taipei City, Taiwan, which also marks the first NG AH SIO Bak Kut Teh outlet outside of Singapore.

Mr. Ang Kiam Meng, Executive Director and Group CEO, said, "I am heartened that our business expansion in the region has borne fruit. Our PRC operations continue to bring increased revenue contributions to the Group, and we have also successfully opened our first NG AH SIO Bak Kut Teh overseas outlet in Taiwan. On the domestic front, we see an overwhelming response at the new Tsui Wah outlet at Clarke Quay. This is in line with our strategy to increase the vibrancy of our business and Singapore's food and beverage landscape."

"As a growing business, there will be a gestation period as reflected in our latest set of financial results. We are confident that we will be able to produce a sustainable performance as we expand our footprint regionally and strengthen our position."

Outlook

The Group's Q3 FY2018 results reflect the gestation period of its expansions, locally and regionally. The Group continues to focus on cost efficiency and improving work flow processes to increase productivity.

The Group intends to open two new JUMBO Seafood restaurants, one Teochew cuisine restaurant and at least two more Tsui Wah Hong Kong-styled Cha Chaan Teng outlets in Singapore in the next 12 months. The Group's franchise business will also see one new JUMBO Seafood restaurant opening in the major cities - Bangkok (Thailand), Taichung (Taiwan) and Fuzhou (the PRC).

As part of its optimisation efforts for its operations, the Group closed down two NG AH SIO Bak Kut Teh outlets in March and April 2018. In July 2018, the lease of the JPOT outlet at VivoCity was not renewed due to unfavourable renewal terms.

The Group will also continue to explore suitable opportunities to expand its network of F&B outlets and business through the opening of new outlets, joint ventures and strategic alliances with partners who can strengthen its market position and add value to its existing business.

About JUMBO Group Limited

JUMBO is one of Singapore's leading multi-dining concept F&B establishments.

The Group's network of F&B outlets (including those of its associated companies and those under licensing arrangements) spans Singapore, the PRC, Japan, Taiwan and Vietnam. JUMBO also provides catering services for customers in Singapore, and sells packaged sauces and spice mixes for some of its signature dishes in its outlets, selected stores, supermarkets, travel agencies and online via the JUMBO eShop.

Fulfilling its philosophy of "Bonding People Through Food", JUMBO has a total of 12 F&B outlets in Singapore and 6 F&B outlets in the PRC, under 5 restaurant brands - JUMBO Seafood, JPOT, NG AH SIO Bak Kut Teh, Chui Huay Lim Teochew Cuisine and J Cafe. It also operates 1 Tsui Wah Hong Kong-style "Cha Chaan Teng" in Singapore as a franchisee and manages 1 Singapore Seafood Republic outlet. Through franchising to third parties, it has 1 Jumbo Seafood outlet each in Taiwan and Vietnam, and recently opened its first NG AH SIO Bak Kut Teh outlet in Taiwan.

The Group also has a Central Kitchen in Singapore to maintain stringent quality standards and the consistency in the tastes of its signature dishes, increase productivity and lower costs. JUMBO's Research and Development Kitchen facilitates the creation of new dishes and improvement of food preparation processes.

The Group has received many awards, accolades and notable mentions in prestigious publications for the high quality of food and service offered by the Group's F&B brands.

Some of the Group's more recent awards and accolades include the Excellent Service Award (2016), SIAS 17th Investors' Choice Awards - Winner of Most Transparent Company Award for New Issues (2016), Singapore Business Awards - The Enterprise Award (2016), Singapore Corporate Awards - Best Investor Relations Merit Award for First-Year Listed Companies (2016), People Excellence Award (2015), HRM Awards - SME Employer of the Year (2015), Influential Brands Award - Top Brand for Seafood Category (2015), Singapore SME 1000 Company (2015), Singapore Prestige Brand Award - Established Brand Category (2012) and Heritage Category (2012), and the Enterprise 50 Award (2nd place in 2015).

JUMBO Seafood was also featured amongst the "Top 50 most iconic places in Singapore to visit" list compiled by TripAdvisor in 2015 in conjunction with SG50 celebrations. For more information, please visit www.jumbogroup.sg.

ISSUED ON BEHALF OF: JUMBO Group Limited
BY: Citigate Dewe Rogerson Singapore Pte Ltd
55 Market Street #02-01 Singapore 048941
CONTACT: Mr. Winston Choo / Mr. Aaron Ng
at telephone
DURING OFFICE HOURS: 6534-5122
EMAIL: winston.choo@citigatedewerogerson.com / aaron.ng@citigatedewerogerson.com

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Champion REIT Announces 2018 Interim Results

August 15, 2018, 11:45 pm

≫ Next: Los Angeles to host 2018 US China Blockchain and Digital Currency Conference on August 22

≪ Previous: JUMBO Revenue Increases 2.9% to $35.8 Million in Q3 FY2018

- Solid distributable income growth of 7.2% driven by strong fundamentals of office and retail market
- Three Garden Road: Occupancy reached record high of 98.8%
- Langham Place Mall: Retail sales increased 23.5%, outperforming Hong Kong retail market again

HONG KONG, Aug 16, 2018 - (ACN Newswire) - Champion Real Estate Investment Trust (stock code: 2778), the owner of Three Garden Road and Langham Place, announces its financial results for the six months ended 30 June 2018.

Overview
For the first half of 2018, Champion REIT recorded another set of solid results, reflecting the team's efforts to deliver sustainable growth. Distributable income increased by 7.2% to HK$812 million and distribution per unit ("DPU") went up 7.0% to HK$0.1253.

Three Garden Road
Chinese corporations remained the dominant demand driver for offices in prestigious Central locations, while the demand for business centres and co-working spaces in prime locations has also been on the rise. Rental income for Three Garden Road increased by 12.8% to HK$672 million, which was attributable to a higher average occupancy rate and increased passing rents. The occupancy rate of the property reached a record high of 98.8% as at 30 June 2018. The latest rents achieved for Three Garden Road reached HK$130 per sq. ft. (based on lettable area).

Langham Place Office Tower
Langham Place Office Tower has been reinforcing its position as a lifestyle hub. In-house healthcare and beauty tenants continued to show expansion needs while the clustering effect also attracted new lifestyle tenants. Latest rents achieved for Langham Place Office are above HK$50 per sq. ft. (based on gross floor area). The total rental income was HK$167 million, with the occupancy rate at 98.3%.

Langham Place Mall
Hong Kong's retail market rebounded in the first half of 2018, supported by the growth in tourist arrival and increased tourist spending attributed to the favourable RMB exchange rate. Rental income from the Mall grew 12.6% to HK$464 million, driven mainly by a significant increase in turnover rents on the back of solid sales performance of beauty and skincare tenants. Overall tenant sales accelerated and recorded a 23.5% increase year over year, achieving another outperformance against the city's retail market growth of 13.4%.

Financing
The Trust is keeping close monitor on interest rate risks and managing liabilities proactively. During 2018, a total amount of HK$925 million of medium term notes were issued so far, further raising the fixed rate debt portion while lowering the secured debt portion. The proportion of fixed rate debt increased to 54.2% as of today (50.0% as at 31 December 2017).

Distribution
With all the properties in the portfolio attaining higher passing rents, the Trust's distributable income increased by 7.2% to HK$812 million and DPU increased 7.0% to HK$0.1253 (2017: HK$0.1171). This represents an annualized distribution yield of 5.1% based on the closing price of HK$5.21 as at 29 June 2018.

Asset Value
The Trust's investment properties were appraised at a total value of HK$80.7 billion, representing a 5.3% increase from HK$76.7 billion as at 31 December 2017.

Outlook
The solid economic growth in Hong Kong and favourable office supply-demand dynamics will continue to support office rent and occupancy levels. Global geopolitical tensions and the US-China trade wrangles may cause uncertainties and volatilities in the financial markets, while the depreciation of RMB would potentially dampen the growth trajectory of the retail market in the first half. The Trust will step up its efforts to stay on top of the market and enhance shopping experience and facilities at Langham Place Mall.

In view of the volatile interest rate environment, the Trust will sustain its active management over interest rate risks and keep looking for opportunities to secure more long-term debts so as to gradually increase the fixed rate portion. The Trust will also prudently look at opportunities that might optimize unitholders' value and distribution.

About Champion REIT (stock code 2778)
Champion Real Estate Investment Trust is a trust formed to own and invest in income- producing office and retail properties. The Trust focuses on Grade-A commercial properties in prime locations. It currently offers investors direct exposure to 2.93 million sq. ft. of prime office and retail properties by way of two landmark properties, Three Garden Road and Langham Place, one on each side of the Victoria Harbour.

Website : www.championreit.com

Media Contacts:
Strategic Financial Relations Limited
Vicky Lee Tel: 2864 4834 Email: vicky.lee@sprg.com.hk
Christina Cheuk Tel: 2114 4979 Email: christina.cheuk@sprg.com.hk
Website: www.sprg.com.hk

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Los Angeles to host 2018 US China Blockchain and Digital Currency Conference on August 22

August 17, 2018, 1:30 am

≫ Next: Four HKTDC Lifestyle Fairs and Chinese Medicine Conference Open

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-- The only Sino-US investment and funding focused event for the blockchain and cryptocurrency industry --

HONG KONG & LOS ANGELES, Aug 17, 2018 - (ACN Newswire) - The 2018 US China Blockchain and Digital Currency Conference, held at LAX Marriott Hotel on August 22, 2018, is organized by Blockchain China Connect, Artisan Business Group, Inc., and partnered with FundingPost.com. Event sponsors include Triphop, a social travel and rewards platform based out of Silicon Valley that aims to enhance the travel experience for hotel guests while simultaneously helping hotels leverage social media marketing, WONO, a reliable decentralized peer-to-peer platform for exchanging property and services and LIQNET, an exchange with unique liquidity aggregation technology.

The conference is the only Sino-US investment and funding focused event for the blockchain and cryptocurrency industry. Hundreds of blockchain entrepreneurs, investors, bitcoin mine operators, traders, and legal taxation experts are expected to attend, and it will provide a great platform for peer-to-peer networking and exploring investment, finance, business and collaboration opportunities between the U.S., China and other countries.

More than 25 expert speakers from both countries will cover a variety of hot topics such as blockchain technology, startup investment, capital raising, ICOs, bitcoin mining, virtual currency trading, SEC compliance, legal and taxation, etc. Expert speakers and panelists include Joe Rubin, Co-Founder and Managing Director of FundingPost.com; Xiahong Lin, Founder of Bodhi; Han Liguang, Founder of RedCoin Global Public Digital Currency Exchange; Richard B. Levin, Shareholder of Polsinelli; Jeffrey Levinson, CEO of Securitech Blockchain Industries; Jor Law, Co-Founder of Verify Investor; Matt Miles, Founder & Co-CEO of Property Coin; David W. Klasing, Founder & Managing Attorney of The Law Offices of David W. Klasing; Basil Elotol, CEO of Triphop; Brian Su, CEO of Artisan Business Group; Andrew Zapotochnyi, North America Representative at CoinTraffic; Steve Anapoell, US Securities Attorney; Tyler McKay, President of Blockchain China Connect; Rob Tiv, President & COO of SonicMessenger; Gan Zhang, Partner at RTF; Dr. Ann Shin, Founding Partner of Ultrafund Capital; Ralph Liu, Founder & CEO of MuleChain and Advanced e-Financial Technologies, Inc.; Jonathan C. Dunsmoor, Of Counsel Reid & Wise; Alexander Esaulov, Founder & CEO of WONO; Andrey Chepelev, COO of WONO; Colin Wu, CEO of Hong Kong Intellectual Property Exchange; Roc Wang, Founder & CEO of DeepChain; Pavel Cherkashin, Co-founder of Mindrock and Managing Partner of GVA Capital; Ludger Hemesath CSO of SonicMessenger; Paul Dong, Founder of SunetX; Andy Wang, Founder of FutureChain Technologies.

Industry media partners from China and the US will cover the event such as FundingPost.com, Fintech Finance, ShenlianCaijing, Bitcoin Chaser, ICO Buffer, SnipersTube, Bitcoin.com, 5Bite.com, 55HuDong.com, ICO Holder, Coin Delite, Blockchain Daily News, CoinMarketPlus, Belink Communications, Jgy.com, BTC Manager, Bitcoin86.com, BraveNewCoin, TheCryptoCoinCenter, The Daily Hodl, Wanlianzhijia, Chaintiao, Blockchain Business Index, Dayqkl.com, JCN.Newswire, Adglink.com, ACN.Newswire, CoinPoint, Smartereum, US China Business Association, NewsyPR, ICO link, Altcoin Alerts, ICO Goals, Crypto Reporter, Coin Pedia, Crypto Comes, Crixfeed.com and Casino Bitcoins.

There will be lively discussions about the future of Bitcoin, Ethereum, Litecoin including conversation about the most popular coins in China such as NEO, VeChain, Wanchain, EOS and more. Other topics include how to attract Chinese investors for your project, marketing ICO worldwide, real estate Investing through ICOs, bitcoin trading and mining tax laws, updates on Chinese cryptocurrency regulations, and US securities & regulations impacting ICO such as Reg D., Reg S. Reg A+, KYC and AML. ICO pitch. Official agenda can be found on event website http://www.BlockchainChinaConnect.com.

Press Contact:
Mr. Tyler McKay
Blockchain China Connect
Email: info@BlockchainChinaConnect.com

↧

Four HKTDC Lifestyle Fairs and Chinese Medicine Conference Open

August 15, 2018, 10:30 pm

≫ Next: FASHIONALLY Designers Set to Dazzle CENTRESTAGE 2018

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Sophia Chan, Secretary for Food and Health, Hong Kong Special Administrative Region (HKSAR) Government (front row, eighth from left) and Margaret Fong, Executive Director, Hong Kong Trade Development Council (HKTDC) (front row, seventh from left), officiate at today's joint opening ceremony for the Food Expo, International Tea Fair, Beauty & Wellness Expo and Home Delights Expo.

This year's Food Expo welcomes more than 1,560 exhibitors from 23 countries and regions, attracting a large number of visitors.

The Star Chef Cooking Demonstration is one of the highlights at the Food Expo's Gourmet Zone.

- Food, Tea, Beauty and Home Products in Focus
- Record 2,100 Exhibitors Offer One-Stop Sourcing & Shopping Experience

HONG KONG, Aug 16, 2018 - (ACN Newswire) - Organised by the HKTDC, four concurrent fairs opened today at the Hong Kong Convention and Exhibition Centre (HKCEC): the 29th Food Expo, the 10th Hong Kong International Tea Fair, the third Beauty & Wellness Expo and the fifth Home Delights Expo. Together, the fairs gather a record number of nearly 2,100 exhibitors, showcasing quality and new products to trade buyers and public visitors. The two-day International Conference of the Modernization of Chinese Medicine & Health Products (ICMCM), jointly organised by the HKTDC and the Modernized Chinese Medicine International Association Ltd (MCMIA), also opened today.

"Featuring a wide array of gourmet, tea, beauty and home-related products from global exhibitors, these events strive to help consumers enjoy a better and healthier lifestyle, making it one of the most attractive summer festivals in town," HKTDC Executive Director Margaret Fong said at a joint opening ceremony of the four events today.

More than 100 buying missions from 27 countries and regions are visiting this year's Food Expo and Tea Fair to source quality products. To help exhibitors capture business opportunities brought about by the Belt and Road Initiative, the Food Expo features a Halal Food Zone, along with a seminar on halal food certification.

Food Expo: Serving Global Delicacies (16-20 Aug)

Welcoming a record count of more than 1,560 exhibitors from 23 countries and regions, including 1,100 from overseas, the Food Expo comprises three dedicated areas: the Trade Hall, Gourmet Zone and Public Hall.

Targeting mainly trade buyers, the Trade Hall gathers 900 exhibitors, including those in 21 group pavilions representing the Chinese mainland's Hunan, Fujian, Hubei and Jilin provinces, as well as Thailand, the Czech Republic, India, Japan, Korea, Mexico, Poland, Kazakhstan and more. The returning Halal Food Zone and Chinese Medicine Zone also come back to facilitate the sourcing of related products. The Trade Hall is open to industry representatives from 16-17 Aug, before welcoming public ticket-holders on 18 Aug. The hall features seminars with industry experts discussing such topics as halal food certification, innovative food technology, as well as food testing and certification, providing trade buyers with the latest market information.

Running from 16-19 Aug, the Gourmet Zone at Hall 3B gathers 75 exhibitors with exquisite flavours under four themes - namely Western Delicacy, Asian Cuisine, Sweet Delight and Green Palate. Featured products include the first Hong Kong-crafted beer with fresh black truffles, ice-drip vintage coffee (a blend of coffee and brandy), plant-based Omnipork, award-winning low-fat cheese from the Netherlands, organic spinach soup with chlorella and Kyoto styled marshmallow.

Running from 16-20 Aug, the Public Hall features more than 600 exhibitors, including five group pavilions from the Chinese mainland, Canada, Japan, Korea and Taiwan, bringing an international gourmet feast to visitors. The highlighted Premium Food Zone features more than 30 international and local brands, including Kee Wah Bakery, Maxim's Group, Nissin Foods, On Kee Dry Seafood, Tai Pan and Nin Jiom. Meanwhile, the Hong Kong Vegetable Marketing Organisation and Fish Marketing Organisation introduce high-quality local products. Other special products available include the new hot-chili-and-plum-flavoured crispy fish skin, soya sauce crab from Korea, sherbet made from fresh fruit and juice, and pork shreds baked and produced with traditional techniques.

Exciting events being held during the expo period include star-chef cooking demonstrations featuring celebrity chefs such as Hui Mei Tak, Executive Chef of Pak Loh Chiu Chow Restaurant; Bong Jun Choi, Executive Chef of Chinese Operations, City of Dreams Manila; Claudio Favero, Chef De Cuisine, Sabatini Ristorante Italiano, Royal Garden Hotel; Catherine Lai, Founder and Executive Chef of Kam Mun Jong; Will Leung, Sous Chef of French cuisine JUNON Restaurant; Atsushi Takahashi, Executive Chef of Kashiwaya Hong Kong; Edward Voon, Executive Chef of Le Pan; and Wong Wing Keung, Executive Chinese Chef of Yee Tung Heen.

In sessions jointly organised by the HKTDC, the Hong Kong Special Adminstrative Region (HKSAR) Government's Food and Health Bureau and the Committee on Reduction of Salt and Sugar in Food, several star chefs demonstrated "less salt, less sugar" recipes today to promote healthy living. A seminar themed "Hong Kong's Action on Salt and Sugar Reduction" was also conducted today to help visitors adopt healthy eating habits. Other events to be held in the coming days include the launch of the 2018-2019 "Wan Chai a La Carte" food and culture map, a seminar on herbal tea and product demonstrations.

Hong Kong International Tea Fair: Brewing Opportunities in Tea Business (16-18 Aug)

The 10th Hong Kong International Tea Fair features more than 250 exhibitors from eight countries and regions, presenting tea products, packaging, equipment and related products. The new Taiwan pavilion features quality products including Oolong Tea. With the premium longan tree charcoal as the baking material and a baking process of over 150 hours, this tea gives a unique gentle aroma and sweet flavour.

The fair opens exclusively to trade buyers on the first two days, before welcoming public ticket-holders on the last day. Highlighted products include a perfectly preserved 1950s Red Label Tea Cake and Japanese organic green tea created with the traditional production and cultivation method, where only the top six centimetres of a fresh sprout is harvested. To promote tea culture, the fair features a series of collectors' teaware including a Chinese bowl with cover made in 1890 during the Qing Dynasty.

The International KamCha Competition 2018 Hong Kong Style Milk Tea - 10th Anniversary Special, organised by the Association of Coffee and Tea of Hong Kong, will hold its International Final at the Tea Fair on 18 Aug. Representatives from Hong Kong, the Chinese mainland and other regions will compete for the KamCha title. Combining technology and traditional skills, an artificial-intelligence (AI) robotic arm will give brewing demonstrations on the spot. The International Yuan Yang Final will be staged as well, with local participants competing for the winning title.

Exhibitors competed for various awards at Hong Kong International Tea Competition 2018, including "The Best Aroma Award" and "The Best Taste Award" in each of seven tea categories. Visitors will be able to taste the award-winning teas free of charge on 18 Aug when the fair opens to public ticket-holders. Other upcoming activities include a series of tea forums delivered by industry experts on such topics as antique teaware, cooking with tea, as well as "Tea and Zen" (featuring renowned tea expert Chang Lin). Events organised for trade buyers include tea tasting sessions, tea-art performances, a seminar on "Capturing the Tea Business from the 'Y' and 'Z' Generation", as well as a buyer forum.

Beauty & Wellness Expo: Debut "K-Beauty Expo Hong Kong" Pavilion (16-20 Aug)

In its third edition, the Beauty & Wellness Expo brings together more than 100 exhibitors, featuring a wide selection of skincare, haircare, spa massage and nail-care products. This year, the HKTDC teams up with the Korea International Exhibition Center (KINTEX) for the first time to launch a brand-new "K-Beauty Expo Hong Kong" pavilion under the theme of "Stylish K-Beauty". The pavilion features a wide variety of products from 45 Korean brands, such as hair treatment oil that suppresses the ageing of hair, a series of men's skincare products, USB rechargeable eyelash curlers and a range of organic products for sensitive skin. The Federation of Beauty Industry (H.K.) has brought eight companies offering their latest beauty products, while the Hong Kong Hair & Beauty Merchants Association presents seven companies showcasing a variety of hair and beauty products.

Events being held during the expo period include product demonstrations and sharing sessions by beauty experts on make-up tips for summer parties and the latest hair-styling tips. Furthermore, Yoko Tsang, a dietary therapist and beauty expert, will conduct a cooking demonstration of fish maw, while beauty key opinion leader Snowwhitewhite will share knowledge on skincare and make-up.

Home Delights Expo: Presenting Lifestyle Brands (16-20 Aug)

The fifth edition of the Home Delights Expo features 180 exhibitors, presenting a range of quality electrical appliances, kitchen equipment and household products. The Avenue of Delights gathers 45 leading lifestyle brands including STAUB, CLP, Dyson, Kenwood, German Pool, OTO, Tiger, Philips and Towngas.

The HKTDC and the Hong Kong Federation of Youth Groups jointly host the "Home" for Youth Start-ups: Exhibition Experience Taster and present a Start-up Square at the expo, providing a platform for 16 selected start-ups to promote their products and services.

Visitors can bid for their favourite household appliances and products at the popular Smart Bidding event. Orange Tam, founder of Juppuk, a company providing a home tidy-up service, will share tips on reducing unnecessary household items and storage.

ICMCM: Exchanging Views on Ben Cao (16-17 Aug)

Organised by the HKTDC and the Modernized Chinese Medicine International Association Ltd (MCMIA), the International Conference of the Modernization of Chinese Medicine & Health Products (ICMCM) takes place from 16-17 Aug to keep practitioners abreast of the latest trends and developments. In commemoration of the 500th Anniversary of the birth of Li Shizhen, author of Compendium of Materia Medica, the conference shares the development of Ben Cao (a pharmacopoeia of Chinese herbal medicine) and its potential expansion. The conference features 17 distinguished speakers from renowned institutions in Hong Kong, the Chinese mainland, India, Japan, Korea, Russia, and the United States, including Hong Kong Baptist University, the American Society of Pharmacognosy, Shanghai University of Traditional Chinese Medicine, St Petersburg State University and Seoul National University.

On 18 Aug, public visitors can attend Chinese Medicine Health Public Forum sessions, where professional practitioners will discuss Chinese-medicine dietary therapy for skin problems, anaemia and blood pressure control, diabetes and gastroenteritis, as well as respiratory care and seasonal healthcare diets.

Going Green

To promote environmental awareness and waste reduction, a pilot on-site food container lending service has been launched at the Food Expo this year to reduce the use of disposable plastic utensils. Visitors can borrow a reusable food container with wooden utensils at a deposit of HK$20 in cash (at the entrance of Hall 1E), and return the used food container and reclaim the deposit when leaving the fairground (at Hall 1A and 3E Concourses). Available while stocks last, the service is run jointly by the HKTDC, NWS Holdings Limited and social enterprise BottLess, with the wooden utensils sponsored by Hong Kong Convention and Exhibition Centre (Management) Limited.

To encourage visitors and exhibitors to reduce waste, the HKTDC continues to cooperate with Food For Good and Food Angel to collect and recycle packaged edible food and food waste at the fairground, and invite exhibitors to donate food to needy communities after the fair. The HKTDC also encourages exhibitors and visitors to follow green tips such as sorting recyclable waste into recycle bins placed at the fairground. Visitors are encouraged to bring their own utensils, food boxes, water bottles and shopping bags.

Fair Websites
Food Expo: http://hkfoodexpo.hktdc.com
Home Delights Expo: http://homedelights.hktdc.com
Beauty & Wellness Expo: http://hkbeautyexpo.hktdc.com
Tea Fair: http://hkteafair.hktdc.com
International Conference of the Modernization of Chinese Medicine & Health Products: http://icmcm.hktdc.com
Photo Download: https://bit.ly/2PaWAZY

This media release was distributed by Strategic Public Relations Group (SPRG) on behalf of the HKTDC. For further media enquiries, please contact:

Strategic Public Relations Group (SPRG)
Andico Tsui
Tel: +852 2114 4346 / +852 6902 3831
Fax: +852 2114 0880
Email: andico.tsui@sprg.com.hk

Sonya Lai
Tel: +852 2114 4984 / +852 6671 3008
Fax: +852 2114 0880
Email: sonya.lai@sprg.com.hk

HKTDC's Communication & Public Affairs Department
Katherine Chan
Tel: +852 2584 4537
Email: katherine.cm.chan@hktdc.org

About HKTDC

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

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FASHIONALLY Designers Set to Dazzle CENTRESTAGE 2018

August 17, 2018, 4:30 am

≫ Next: Trillium Selected as Plug and Play's Hottest Company

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YDC 2017 champion and New Talent Award winner Arto Wong's capsule collection designed for JOYCE

Young Talents' Latest Collections to be Paraded on Catwalk

HONG KONG, Aug 17, 2018 - (ACN Newswire) - With a mission to promote Hong Kong's young designers, online fashion hub FASHIONALLY will present FASHIONALLY Collection #12 and FASHIONALLY Presentation shows at CENTRESTAGE 2018, featuring spring/summer 2019 (SS19) collections from 13 local designer labels. FASHIONALLY has also invited winners of the Hong Kong Young Fashion Designers' Contest (YDC) 2017 to display their latest works at the fair, including a limited-edition capsule collection by Arto Wong available at JOYCE Pacific Place, Sonic Lam's special wool outfit created in collaboration with The Woolmark Company, and the ete! x YDC Best Footwear Design Award Capsule Collection "I Go to School by Bus" designed by Jason Lee and sponsored by i.t apparels Ltd.

Asia's premier fashion event, CENTRESTAGE is the Hong Kong Trade Development Council's (HKTDC) signature international fashion fair. This year's event will feature more than 200 international brands over multiple catwalks, engaging fashion forums with industry professionals, insightful talks by esteemed guests, and more. CENTRESTAGE 2018 will be held from 5-8 Sept at the Hong Kong Convention and Exhibition Centre (HKCEC).

FASHIONALLY Collection #12 to Highlight Hong Kong's Design Talent

Since its inception in 2012, FASHIONALLY has been presenting FASHIONALLY Collection shows at Hong Kong Fashion Week for Spring/Summer and CENTRESTAGE each year to showcase the latest collections from emerging Hong Kong talent. FASHIONALLY Collection #12 will feature 10 up-and-coming local designers who exemplify Hong Kong's excellence in creativity and fashion design. Participating brands include 112mountainyam (designer: Mountain Yam), Blind by JW (designers: Walter Kong and Jessica Lau), CAR | 2IE (designer: Carrie Kwok), DEMO. (designer: Derek Chan), FromClothingOf (designer: Shirley Wong), KEVIN HO (designer: Kevin Ho), LAPEEWEE (designer: Yannes Wong), NECRO POON (designer: Necro Poon), phenotypesetter (designer: Jane Ng) and YEUNG CHIN (designer: Yeung Chin).

FASHIONALLY Presentation to Showcase Local Designers' Creative Journeys

FASHIONALLY Presentation, an unconventional hybrid of fashion show and theatrical play, debuted at Hong Kong Fashion Week for Fall/Winter 2018. The upcoming edition will spotlight three budding Hong Kong labels - Tak Lee, REDEMPTIVE, and YLYstudio - each of which is given complete creative freedom to decorate the stage and direct the presentation around the unique set. Their presentations will unveil the designers' latest SS19 collections while offering a rare glimpse into their creative journeys. These labels are participating in a FASHIONALLY show for the first time.

YDC 2017 Winners to Display Award-winning Capsule Collections

Organised by the HKTDC, YDC is an annual contest that aims to cultivate and promote new fashion design talents. Three YDC 2017 winners will return to CENTRESTAGE this year to display their latest collections created in collaboration with top fashion brands.

Arto Wong, champion and New Talent Award winner at YDC 2017, launched her namesake label, ARTO this month. The highly coveted New Talent Award, introduced last year and returning next month, is given by JOYCE and includes mentorship and assistance to the winner to develop a capsule collection that will be sold at JOYCE. The "JOYCE x ARTO. Capsule Collection", developed from Ms Wong's YDC winning collection "Zero to Unlimited", will launch in Hong Kong at JOYCE Pacific Place on 30 Aug, and in Shanghai at JOYCE Plaza 66 in early September.

Menswear designer Sonic Lam, YDC 2017 first runner-up, has developed his winning "Barren Land" collection into an outfit for The Woolmark Company, which is sponsoring him on a study trip to Australia this month to learn about the wool supply chain.

YDC 2017 Best Footwear Design Award winner Jason Lee launched his capsule collection "I Go to School by Bus" with i.t apparels under the brand ete! at selected ete! and i.t stores in March. Through this playful and colourful collection, the designer expressed re-living happy school memories. This year, Lee started his own label, YMDH Studio, which reflects the rebelliousness of today's youth along with Hong Kong's unique street culture.

Fashion parade details:

FASHIONALLY Collection #12
Date: 5 Sept 2018
Time: 11:30-12:00
Venue: Grand Hall, Level 3, HKCEC

FASHIONALLY Presentation
Tak Lee
Date: 5 Sept 2018
Time: 12:45-13:15
Venue: FASHIONALLY Street, Hall 3B-C, HKCEC

REDEMPTIVE
Date: 6 Sept 2018
Time: 14:15-14:45
Venue: FASHIONALLY Street, Hall 3B-C, HKCEC

YLYstudio
Date: 7 Sept 2018
Time: 12:00-12:30
Venue: FASHIONALLY Street, Hall 3B-C, HKCEC

CENTRESTAGE website: http://centrestage.com.hk
The Hong Kong Young Fashion Designers' Contest 2018 (YDC) website: http://www.fashionally.com
Photo Download: https://bit.ly/2w5QvoX

For more information or to request interviews, please contact Sinclair at +852 2915 1234
Nikki McLucas, nikki@sinclaircomms.com, +852 6895 0534
Jessica Man, jessicam@sinclaircomms.com, +852 6083 0157
Wing Ng, wing@sinclaircomms.com, +852 6106 8605
Kelly Chan, kelly@sinclaircomms.com, +852 6825 4496

HKTDC's Communications and Public Affairs Department
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org
Selina Fan, Tel: +852 2584 4298, Email: selina.mi.fan@hktdc.org

About HKTDC

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

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Trillium Selected as Plug and Play's Hottest Company

August 16, 2018, 7:00 pm

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Trillium's Rapid Growth Attributed to Close-Knit Partnership with the Innovation Platform

SUNNYVALE, CA, Aug 17, 2018 - (ACN Newswire) - Trillium Secure, Inc. (Trillium), a leader in secure data lifecycle management and cybersecurity, was selected as Plug and Play's Hottest Company for the month of August.

"We highly value the full-range of support Plug and Play delivers for launching Trillium to its next level of success," said Dr. Sachio Semmoto, Chairman of Trillium and serial entrepreneur who has led eight startup IPOs. To win this award, Trillium competed against hundreds of startups based in Plug and Play's Sunnyvale office. The committee voted for the Hottest Company by considering growth, the leadership team, IP value and other factors.

"Trillium stood out from the companies we invested in because of its innovative approach to vehicular data lifecycle protection against cyber-attack," said Saeed Amidi, CEO and Founder of Plug and Play. Because the latest car models increasingly resemble a computer on wheels, the value of a multi-layered approach to reducing your car's cyber-vulnerabilities rises. Trillium's global R&D centers develop comprehensive cybersecurity solutions for vehicle fleets.

"Plug and Play provides great access to portfolio and industry partners, which has been a major factor in fueling Trillium's growth," said David Uze, Founder and CEO of Trillium. "Being intimately involved in the larger ecosystem of investors, corporations, and startups is a big advantage as we pioneer the secure data lifecycle management industry."

About Trillium Secure, Inc.
Trillium delivers comprehensive cybersecurity protection and secure data lifecycle management for vehicles and fleets through a subscription service. This protection uses a multi-layered approach to harden connected vehicles, autonomous vehicles, and fleets against cyber-attacks. Trillium delivers an authenticated operational and threat management data solution for fleet vehicles that preserves privacy, confidentiality, and anonymity of data while at rest and in motion. A wide range of verticals, including automotive manufacturers, aerospace and defense organizations, and insurance companies, can defend against cyber-vulnerabilities with Trillium's solutions. Value-added service providers depend on secure, authentic data from Trillium for car sharing, digital forensics, preventive maintenance, telematics, usage-based insurance and other services. Trillium design centers and fleet security operation sites are located in Sunnyvale, Ann Arbor, Ho Chi Minh City and Tokyo. Trillium will open a European design center in Q3 2018. For more information visit www.trilliumsecure.com and follow us on LinkedIn.

About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to facilitate technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. We are the world's most active venture capital firm, with roughly 250 startup investments a year. To learn more, please visit https://www.plugandplay.com.

Press Contact: Kevin Em
Email: Kevin.Em@TrilliumSecure.com

↧

Soma Energy Park Begins Using MHPS-TOMONI at Pulverized Coal-Biomass Power Plant

August 21, 2018, 3:34 am

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≪ Previous: Trillium Selected as Plug and Play's Hottest Company

- Advanced Digital Technologies Improve Plant Efficiency and Operational Life -

YOKOHAMA, Japan, Aug 21, 2018 - (JCN Newswire) - Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has applied MHPS-TOMONI, its digital solutions service that utilizes leading-edge technologies to optimize thermal power plant operations, at Soma Energy Park, a pulverized coal and biomass co-firing power plant in Soma-shi, Fukushima Prefecture Japan. This application provides advanced operations and maintenance (O&M) for the Soma plant. It also includes advanced controls to achieve stable operations and improved operability with a wide range of fuels, while expanding data collection and development of analysis methods aimed at future autonomous operation.

Soma Energy Park is a 112 MW power plant operated by Soma Energy Park LLC. MHPS manufactured and supplied the coal-biomass mixed-combustion boiler, steam turbine, FGD (flue gas desulfurization), and SCR (selective catalytic NOx reduction) systems. Construction was completed in March 2018.(1)

ICT applications provided by MHPS-TOMONI include remote monitoring, indication and early detection of abnormalities, remaining life assessment, monitoring of operational status and efficiency, guidance for optimal operation of equipment, water quality diagnosis, and auxiliary power diagnosis. These applications allow the Soma plant to co-fire pulverized coal and biomass, as well as utilize ICT to provide life assessment of the SCR and operational supervision of FGD and ESP (electrostatic precipitators).

MHPS will continue to work closely with Soma Energy Park LLC to expand the range of applications that benefit the power plant. The use of MHPS-TOMONI will lead to optimization of O&M via the extension of regular remote monitoring and diagnostics, improvement in facility operations and performance, and enhancement of overall efficiency and operational resources.
Globally, MHPS is expanding applications for MHPS-TOMONI, and by working even closer with customers to optimize the operation of power plant facilities, is enhancing economic efficiency in power generation and contributing to social development.

Find further information about MHPS-TOMONI at https://www.changeinpower.com/mhps-tomoni/

(1) Soma Energy Park is the first 100 MW-class, large-scale pulverized coal-fired power facility in Japan to achieve a biomass mixing ratio of about 34% at rated load during the trial operation stage prior to completion.

About Mitsubishi Hitachi Power Systems, Ltd.

Mitsubishi Hitachi Power Systems, Ltd. (MHPS) was formed on February 1 2014, integrating the thermal power generation systems businesses of Mitsubishi Heavy Industries, Ltd. (MHI) and Hitachi, Ltd. in a quest to further enhance their social response capabilities in all respects. These include the technological strength to create new products of outstanding quality and reliability, the comprehensive strength in engineering to oversee projects in regions across the globe, and finely honed sales and after-sale servicing capabilities. MHPS aims to come out a winner in global competition and achieve a solid position as a world leader in thermal power generation systems and environmental technologies. For more information, please visit www.mhps.com.

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

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AIR Worldwide Estimates Industry Insured Losses for Flooding in Western Japan Will be Between JPY 284 billion (USD 2.6 billion) and JPY 423 billion (USD 4.0 billion)

August 21, 2018, 5:00 am

≫ Next: Fujitsu Relay-type Computer "FACOM128B" Registered as "Essential Historical Materials for Science and Technology"

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BOSTON, Aug 21, 2018 - (ACN Newswire) - Catastrophe modeling firm AIR Worldwide estimates that industry insured losses from the flooding in western Japan caused by excessive rainfall from June 28 to July 8, 2018, will be between JPY 284 billion (USD 2.6 billion) and JPY 423 billion (USD 4.0 billion).

Following successive heavy downpours from June 28 onward, several days of record-breaking rainfall until July 8 led to widespread inland flooding in more than 30 prefectures across western and south-central Japan. The precipitation was described by an official at the Japan Meteorological Agency (JMA) as being "at a level we have never experienced." As well as numerous rivers and streams bursting their banks, many landslides were reported. In addition to major damage to buildings and infrastructure, there was considerable business interruption. With at least 200 lives lost, this was Japan's deadliest flood since 1982 and the country's deadliest natural catastrophe since the 2011 Tohoku earthquake.

In just a few days, parts of Japan received four times the rainfall typically expected in the whole month of July, according to the JMA. Local reports state that new records for rainfall during 24-, 48-, or 72-hour periods were set in 93 locations.

Numerous rivers in the impacted regions crested above their historic levels. Floodwaters reached as high as 5 meters (16.4 feet) above normal levels in some locations, and watercourses across the region overflowed. Several rivers such as the Asahi, Takahashi, Misasa, and Houman rivers near the cities of Okayama, Kurashiki, Hiroshima, and Fukuoka, respectively, experienced over 500-year return period flows. The Hijikawa River in Ehime Prefecture overflowed with an over 250-year return period flow. The rainfall abated on July 9 and water levels began to recede in some areas, but and the threat of landslides remained and railroads and highways remained closed in affected regions, hindering relief and rescue operations.

More than 46,000 residential buildings were destroyed, damaged, or inundated, according to data issued on August 8 by the Fire and Disaster Management Agency (FDMA).

There was widespread business interruption, particularly to auto and electronics manufacturers.

AIR's modeled insured loss estimates include:
- Insured damage to property (residential, commercial, industrial, and agricultural/mutual), both structures and their contents, and automobile

AIR's modeled insured loss estimates do not include:
- Landslide
- Losses to land
- Losses to infrastructure
- Losses to CAR/EAR, marine hull, or marine cargo lines of business
- Business interruption losses
- Loss adjustment expenses
- Demand surge-the increase in costs of materials, services, and labor due to increased demand following a catastrophic event; demand surge can be applied by AIR software users who want to account for this variable

About AIR Worldwide
AIR Worldwide (AIR) provides risk modeling solutions that make individuals, businesses, and society more resilient to extreme events. In 1987, AIR Worldwide founded the catastrophe modeling industry and today models the risk from natural catastrophes, terrorism, pandemics, casualty catastrophes, and cyber incidents. Insurance, reinsurance, financial, corporate, and government clients rely on AIR's advanced science, software, and consulting services for catastrophe risk management, insurance-linked securities, longevity modeling, site-specific engineering analyses, and agricultural risk management. AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is headquartered in Boston, with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.

For more information, contact:
Kevin Long
AIR Worldwide
617-267-6645
klong@air-worldwide.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: AIR Worldwide via Globenewswire

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Fujitsu Relay-type Computer "FACOM128B" Registered as "Essential Historical Materials for Science and Technology"

August 20, 2018, 6:11 pm

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The still-operational FACOM128B (Ikeda Memorial Room)

TOKYO, Aug 21, 2018 - (JCN Newswire) - Fujitsu today announced that Japan's National Museum of Nature and Science has decided to register its FACOM128B relay-type automatic computer(1) as "Essential Historical Materials for Science and Technology." The FACOM128B, manufactured in 1959 and still in an operational state to this day(2), as well as a number of associated materials, will be honored at a registration ceremony to be conducted on August 28, at which time a Certificate of Registration will be presented.

Since 2008, the National Museum of Nature and Science has registered Essential Historical Materials for Science and Technology, with the goal of passing on to future generations the experience of their predecessors that has supported Japanese science and technology. The museum has worked to select and preserve materials representing essential results in the development of science and technology, that are important to pass on to future generations, and that have had a remarkable impact on the shape of the Japanese economy, society, culture, and the lifestyles of its citizens.

The FACOM128B was a later model of the FACOM128 launched in 1956. The FACOM128 was the first relay-type commercial computer made in Japan, and featured the then advanced capabilities of a self-checking function for its internal processing, and a retry function. Later, the FACOM128B, seen as a highly reliable computer, was used to design camera lenses and the YS-11, the first Japanese passenger plane produced after World War II. Accordingly, the computer contributed to the development of science and technology during Japan's period of rapid economic growth.

The FACOM128B, along with materials relating to its design, production, maintenance, and operation, has now been selected as Essential Historical Materials for Science and Technology as a relay-type computer that led the industry at the dawn of Japan's computer age. This is in recognition of its contributions to science and technology, as well as the fact that it has been preserved as one of the world's oldest still-operational computers.

The Fujitsu Relay-type Computer Technology Inheritance Project began activities in October 2006, with the goal of conveying the thoughts and feelings of the technical personnel involved in its development and production to the next generation by continuing to operate the relay-type computer. In this project, the technical personnel involved in the design, production, maintenance, and operation of the computer worked with current technical personnel to keep both the FACOM128B, which is fast approaching its 60th anniversary, and its sister machine, the FACOM138A, in an operational state.

Going forward, Fujitsu will continue to collect, archive, analyze, and utilize materials relating to its scientific and technological results, including not only relay-type machines and other computers, but also telecommunications equipment and devices, as well as ICT solutions. As a result, the company will pass on its technical heritage to the future and contribute to technological transformation for the next generation.

http://www.acnnewswire.com/topimg/Low_FACOM128B.jpg
The still-operational FACOM128B (Ikeda Memorial Room)

(1) Relay-type automatic computer A computer that uses relays (switches that operate magnetically) as logic elements, utilizing relay technology that was used in devices such as telephone switches, which gave Fujitsu its competitive edge at the time.
(2) In an operational state to this day An operational exhibit in the Ikeda Memorial Room, one of Fujitsu's facilities (located in Fujitsu's Numazu Complex, Numazu, Shizuoka prefecture, Japan). The FACOM138A, its sister machine, is also preserved in an operational state in Fujitsu Technology Hall (located in Fujitsu's Kawasaki Research & Manufacturing Facilities, Kawasaki, Kanagawa prefecture, Japan).

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 140,000 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 4.1 trillion yen (US $39 billion) for the fiscal year ended March 31, 2018. For more information, please see http://www.fujitsu.com.

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

Contact:
Fujitsu Limited
Public and Investor Relations
Tel: +81-3-3215-5259
URL: www.fujitsu.com/global/news/contacts/

↧

Estimated Net Asset Value as at 31 July 2018

August 20, 2018, 8:00 pm

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Volta Finance Limited (VTA) - July 2018 monthly report

St Peter Port, GUERNSEY, Aug 21, 2018 - (ACN Newswire) - AXA IM has published the Volta Finance Limited (the "Company" or "Volta Finance" or "Volta") monthly report for July. The full report is attached to this release and will be available on Volta's website shortly (www.voltafinance.com).

PERFORMANCE and PORTFOLIO ACTIVITY

In July, Volta's Estimated NAV* performance was +0.6%, an encouraging performance in a context of relatively quiet credit markets in general.

In July, mark-to-market performances of Volta's asset classes, in local currencies, were: +1.4% for Bank Balance Sheet Transactions; +3.7% for CLO Equity tranches; -0.2% for CLO Debt tranches, -0.9% for Cash Corporate Credit deals and 0.0% for ABS.

The negative performance from CLO debt reflects short term oversupply in the primary CLO market. There is too much CLO trying to price, refinance or reset at the same time. We expect this issue to persist for the remainder of August and probably into September as well. However, we consider this to be an opportunity to look to acquire CLO debt tranches at attractive pricing, after Volta's tilt towards equity tranches in recent months.

During the month, Volta invested the equivalent of EUR19.4m (various contributions to the 4 CLO warehouses that have been opened previously, the roll of 3 USD BB CLO debt tranches and the purchase of one Euro CLO equity position derived from one of the Company's open European warehouses). On average, and under market standard assumptions, the projected IRR of such instruments is in the area of 12%. Three USD CLO debt tranches were called during the month and represented the equivalent of EUR9.4m.

In July, Volta generated the equivalent of EUR7.2m in interest and coupons net of repo costs (non-euro amounts translated into euro using end-of-month cross currency rates). This brings the total cash amount generated during the last six months in terms of interest and coupons to EUR19.8m, a level unseen for several years. EUR2.6m of these EUR19.8m are coupons arising from reset of existing CLO Equity positions. Although Refinancing/Reset of CLO have been a very active market for the last two years it could become less profitable on a long term basis.

The increase in interest and coupons generated from Volta's assets continues, reflecting the increase in the 3 month USD Libor rate as well as the growing importance of the CLO Equity bucket in the portfolio (being the asset class with the highest cash on cash contribution).

As planned, we continue to allocate capital to CLO warehousing facilities in order to source new CLO equity positions with attractive economic terms. It is anticipated that two warehouses to which Volta contributed this month should lead to a CLO pricing during Q3 2018. Expected returns on such CLO equity positions are in the area of 13% to 15%.

As of the end of July 2018, Volta's Estimated NAV was EUR305.5m or EUR8.36 per share. The GAV stood at EUR350.5m.

*It should be noted that approximately 11.8% of Volta's GAV comprises investments for which the relevant NAVs as at the month-end date are normally available only after Volta's NAV has already been published and investments in certain subordinated notes which are in the process of liquidation for which fully up-to-date prices might be unavailable. Volta's policy is to publish its own NAV on as timely a basis as possible in order to provide shareholders with Volta's appropriately up-to-date NAV information. Consequently, such investments are valued using the most recently available NAV for each fund or quoted price for each such subordinated note. The most recently available fund NAV was for 10.0% of Volta's GAV as at 30 June 2018 and for 1.8% of Volta's GAV as at 31 March 2018.

** "Mark-to-market variation" is calculated as the Dietz-performance of the assets in each bucket, taking into account the Mark-to-Market of the assets at month-end, payments received from the assets over the period, and ignoring changes in cross currency rates. Nevertheless, some residual currency effects could impact the aggregate value of the portfolio when aggregating each bucket.

This announcement contains information that is inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.

CONTACTS
For the Investment Manager
AXA Investment Managers Paris
Serge Demay
serge.demay@axa-im.com
+33 (0) 1 44 45 84 47

Company Secretary and Portfolio Administrator
Sanne Group (Guernsey) Limited
voltafinance@sannegroup.com
+44 (0) 1481 739810

Corporate Broker
Cenkos Securities plc
Andrew Worne
Oliver Packard
Sapna Shah
+44 (0) 20 7397 8900

ABOUT VOLTA FINANCE LIMITED

Volta Finance Limited is incorporated in Guernsey under The Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange's Main Market for listed securities. Volta's home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

Volta's investment objectives are to preserve capital across the credit cycle and to provide a stable stream of income to its shareholders through dividends. Volta seeks to attain its investment objectives predominantly through diversified investments in structured finance assets. The assets that the Company may invest in either directly or indirectly include, but are not limited to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage loans; and, automobile loans. The Company's approach to investment is through vehicles and arrangements that essentially provide leveraged exposure to portfolios of such underlying assets. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.

ABOUT AXA INVESTMENT MANAGERS

AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with EUR717 billion in assets under management as of the end of December 2016. AXA IM employs approximately 2,420 people around the world.

This press release is distributed and published by AXA Investment Managers Paris ("AXA IM"), in its capacity as alternative investment fund manager (within the meaning of Directive 2011/61/EU, the "AIFM Directive") of Volta Finance Limited (the "Volta Finance") whose portfolio is managed by AXA IM.

This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are "U.S. persons" for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. Volta Finance does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

This press release contains statements that are, or may deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "anticipated", "expects", "intends", "is/are expected", "may", "will" or "should". They include the statements regarding the level of the dividend, the current market context and its impact on the long-term return of Volta Finance's investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Volta Finance's actual results, portfolio composition and performance may differ materially from the impression created by the forward-looking statements. AXA IM does not undertake any obligation to publicly update or revise forward-looking statements.

Any target information is based on certain assumptions as to future events which may not prove to be realised. Due to the uncertainty surrounding these future events, the targets are not intended to be and should not be regarded as profits or earnings or any other type of forecasts. There can be no assurance that any of these targets will be achieved. In addition, no assurance can be given that the investment objective will be achieved.

The figures provided that relate to past months or years and past performance cannot be relied on as a guide to future performance or construed as a reliable indicator as to future performance. Throughout this review, the citation of specific trades or strategies is intended to illustrate some of the investment methodologies and philosophies of Volta Finance, as implemented by AXA IM. The historical success or AXA IM's belief in the future success, of any of these trades or strategies is not indicative of, and has no bearing on, future results.

The valuation of financial assets can vary significantly from the prices that the AXA IM could obtain if it sought to liquidate the positions on behalf of the Volta Finance due to market conditions and general economic environment. Such valuations do not constitute a fairness or similar opinion and should not be regarded as such.

Editor: AXA INVESTMENT MANAGERS PARIS, a company incorporated under the laws of France, having its registered office located at Tour Majunga, 6, Place de la Pyramide - 92800 Puteaux. AXA IMP is authorized by the Autorite des Marches Financiers under registration number GP92008 as an alternative investment fund manager within the meaning of the AIFM Directive.

Attachment
Volta - Monthly Report - July 2018
https://bit.ly/2BrLfC2

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Kingsoft Announces 2018 Interim and Second Quarter Results

August 20, 2018, 11:50 pm

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WPS Office Maintains Strong Growth; New Technologies Empower Cloud Services to Achieve Breakthrough Performance

HONG KONG, Aug 21, 2018 - (ACN Newswire) - Kingsoft Corporation Limited ("Kingsoft" or the "Company"; HKEx stock code: 03888), a leading Chinese software and Internet service company, has announced its unaudited 2018 interim results and its second quarter results for the period ended 30 June 2018.

For the first half of 2018, the revenue of Kingsoft increased 4% year-over-year to RMB2,609.5 million. Revenue from the online games, cloud services and office software and services and others represented 47%, 34% and 19%, respectively, of the Company's total revenue for the first half of 2018.

For the second quarter of 2018, the Company's revenue increased 5% year-on-year and 6% quarter-on-quarter to RMB1,345.8 million. Revenue from the online games, cloud services and office software and services and others represented 43%, 35% and 22%, respectively, of the Company's total revenue for the second quarter of 2018. Gross profit for the second quarter of 2018 decreased 16% year-on-year and increased 9% quarter-on-quarter to RMB671.3 million.

Mr. Jun LEI, Chairman of Kingsoft, commented, "We maintained a steady operation during this quarter and achieved our established goals. We launched YSYY, our new 3D costume-changing mobile game in June, which boosted our reputation and topped the free game ranking in the Apple Store on the day of its release. Kingsoft Cloud delivered a steady growth and all businesses performed well on track to meet our strategic targets. WPS Office continued its strong momentum with the global monthly active user (MAU) of WPS family reaching 300 million, and recently it also released several new products, including WPS Office 2019 and WPS Office for Mac."

Mr. Tao ZOU, Chief Executive Officer of Kingsoft, added, "Our revenue was RMB1,345.8 million in the second quarter, up 5% year-on-year and 6% quarter-on-quarter. The revenue of the first half of 2018 was RMB2,609.5 million, up 4% year-on-year. In the second quarter, revenues from cloud services and office software and services and others maintained steady growth, up 54% and 68% year-on-year, respectively. After rapid development in the past few years, China's online game market (including the mobile game market) appeared to experience a relatively sluggish growth in 2018. With the increasingly intensive competition in the mobile game market, we decided to push back the release date of our new mobile game, JX Online III mobile game, to align with our strategic deployment plan of our key gaming products. JX Online III mobile game is currently expected to be released in early 2019."

BUSINESS REVIEW
Online Games

Revenue from the online games business for the first half of 2018 was RMB1,214.3 million and the revenue for the second quarter of 2018 was RMB581.9 million. China's games market experienced a slowdown in the first half of 2018, which further aggravated the short-term pressure on the growth of the online games market.

During the quarter, JX Online I mobile game, which launched in May 2016, continued to enhance the quality of the game and its contents, and contributed steady monthly gross billing with outstanding performance and great vitality. This quarter's new mobile game YSYY also received recognition from a wide range of players and ranked No.1 on the free games chart in the Apple Store on the day of its release. It reflected the Company's endeavor to develop in the game segment and its commitment in achieving more breakthroughs to adapt to the rapid changes in the game market. The Company's first animation, Dream Tower, premiered online on June 1, and it has been viewed more than40 million times up to now, which boosted its potential to be developed into another core IP. The theme song for the new animation JX Online III: Chivalrous Shen Jianxin made its debut on Bilibili.com and was highly rated by fans of JX Online III. This helped to sustain the flagship game's popularity among users ahead of the upcoming 9th anniversary celebration. The JX World II mobile game was released on iOS on July 4, and ranked No.1 on the most frequently searched list and No.2 on the chart of free games in the Apple Store on the day of its release. The Company also plans to launch a series of new game products in the coming quarters, including the new expansion pack for JX Online III PC game, JX Online II mobile game, Chinese Paladin: Sword and Fairy 4, etc.

Cloud Services

For the first half of 2018, the revenue of cloud services increased 55% year-on-year to RMB887.7 million. Revenue in the second quarter increased 54% year-on-year and 12% quarter-on-quarter to RMB468.7 million. The increase was mainly driven by robust customer usage from mobile video and internet sectors, reflecting Kingsoft Cloud further strengthening its leading position in specific segments.

Kingsoft Cloud maintained a stable growth in the second quarter, and each business segment was in line with the strategic planning of Kingsoft. Integrating three new technologies, AI, edge computing, and blockchain, Kingsoft Cloud further worked on smart cities and made breakthroughs in areas of government cloud, healthcare cloud, finance cloud, industrial manufacturing cloud and IoT. As one of the first contractors of the Beijing government cloud project, one of the largest government cloud projects in China, Kingsoft Cloud has served 42 municipal committees, offices and bureaus in Beijing. It also reached a strategic cooperation agreement with Rizhao city to build a smart city. Kingsoft Cloud launched CloudHIS, China's first cloud-based medical and healthcare information system, and applied it in more than a dozen provinces and cities. Driven by new technologies, Kingsoft Cloud continued to strengthen its leading position in Internet business segment, including video cloud and game cloud and successfully made breakthroughs in technology upgrading. Looking ahead, Kingsoft Cloud will further improve product quality and expand its serving scope. It will also seek opportunities in overseas markets, and continue to lead the industry to help it grow.

Office Software and Services and Others

For the first half of 2018, the revenue from office software and services and others increased 67% year-over-year to RMB507.6 million. Revenue in the second quarter increased 68% year-on-year and 39% quarter-on-quarter to RMB295.2 million. The strong year-on-year and quarter-on-quarter growth was due to the rapid growth from value-added services of WPS Office personal edition and increased sales of WPS Office to enterprises, as a result of increased user engagement driven by consistent products upgrades.

In the second quarter of 2018, WPS Office continued its strong momentum and the global MAU of WPS family reached 300 million, and recently it also released a series of products and services to create a better user experience. On July 3, WPS Office officially released several new products, including WPS Office 2019, WPS Office for Mac and WPS Documents. Equipped with cloud and AI technologies, the new products provide users with smarter office services that fit different working scenarios. For the personal value-added services of WPS Office, Kingsoft continued to improve the membership benefits and enhance the content quality for its users. It also initiated the membership promotion which successfully drove the number of paid memberships and the growth of revenue. Furthermore, WPS Office participated in the World Intellectual Property Day, showing its commitment in innovation-driven business and proprietary R&D. WPS Office looks forward to contributing to proprietary innovation, intellectual property protection and information security. Users' preference for domestic office software will continue to bring more development opportunities to WPS Office.

Mr. Jun LEI concluded, "We managed to deliver a steady quarter. Looking ahead, we believe Kingsoft Cloud and WPS Office will continue to expand in revenue and maintain a solid performance. With the expected delay of the launch of our new mobile games, continuous competition in CDN and the investment in the research and development for office software business, our operating results are expected to remain under pressure for the second half of the year. Looking ahead to 2019, we believe the overall performance will improve on account of the debut of new mobile games, as well as the steady growth of Kingsoft Cloud and WPS Office."

About Kingsoft Corporation Limited
Kingsoft is a leading software and Internet services company based in China listed on the stock exchange of Hong Kong. It has three subsidiaries including Seasun, Kingsoft Cloud and Kingsoft Office. Following the implementation of its "mobile internet transformation" strategy, Kingsoft has completed the comprehensive transformation of its overall business and management models and formed a strategic platform with interactive entertainment and office software as the pillars and cloud computing as the new growth driver and source. The Company has over 5,000 staff around the world. It has set up R&D centers and offices in Beijing, Zhuhai, Chengdu, Dalian, Guangzhou and Hong Kong and enjoys a large market share in various countries and regions both home and abroad. For more information, please visit http://www.kingsoft.com.

Kingsoft Investor Relations:
Francie Lu
Tel: (86) 10 6292 7777
Email: ir@kingsoft.com

For further queries, please contact Hill+Knowlton Strategies Asia:
Sophie Liu
Tel: (852) 2894 6318
Email: kingsoft@hkstrategies.com

↧

World Exchanges to debate Hacking, ICO Listing and Regulation at Futurama Summit in Spain

August 21, 2018, 2:00 am

≫ Next: 'Panda China-Sichuan Night' Launches Inaugural China Giant Panda International Culture Week

≪ Previous: Kingsoft Announces 2018 Interim and Second Quarter Results

IBIZA, SPAIN, Aug 21, 2018 - (ACN Newswire) - During early September, Futurama Blockchain Innovators will host another 'exclusive' retreat, which follows its partners' Blockchain Cruise Mediterranean, by Coinsbank. This time, the island of Ibiza will bring together over 300 representatives of the crypto exchange industry, focusing on three aspects - hacking, privacy and regulation.

The event is none other than the Futurama Blockchain Innovators Summit, known to create ripples in the cryptocurrency community, and this time it's in Europe. After a very successful debut in Dubai, it heads to Ibiza.

The event's success is ensured by world-renowned Venture Funds, Crypto Exchanges and key companies:

- Bithumb : World's first-ranked cryptocurrency exchange
- Coinsbank : Full-fledged cryptocurrency platform and brand new Blockchain Cruise host
- ENS Consultants : Futuristic software development and outsourcing company
- Bitinka : The quickest exchange platform for top range cryptocurrencies
- DNA Capital : The most helpful fund which encourages Blockchain Startups

They need no introduction

What's unique about Futurama is that their organizers managed to realize something that no other had been able to do before - to bring in the representatives of key exchanges, state officials and regulators, even with their super busy schedules, to provide guests with an exclusive three-day opportunity of priceless networking.

Representatives from the largest cryptocurrency exchanges like Bithumb, Coinsbank and Bitinka, and the most powerful lawmakers such as Malta's Chris Ellul and Jersey's Chris Griffin - all will debate about centralized vs decentralized exchanges.

Futurama Blockchain Innovator's Summit in Ibiza has a lineup of extravagant personalities who can be witnessed on centre stage - from Bitcoin Foundation Chairman Brock Pierce to the real sector giants like Huawei. Roger Ver, the world's first investor in Bitcoin startups, Crystal Rose, tech-savvy entrepreneur, and Miko Matsumura, investor of Pantera Capital ICO Fund, are just a few of the names from 30+ TOP speakers that will later be revealed.

Work and Play the Perfect Combination

Even the most sophisticated attendees will be very impressed by the entertainment collection: a welcome party by Coinsbank, known for their brand new cruises, a remarkable ELROW tech-house performance, and a sci-fi SteamPunk party. Can't get better than this, except the fact that guests will fast forward into an even more radical Future Matrix Party.

Business aspects of the conference will begin with an opening remark followed by the Shark Tank like contest between distinguished ICOs that will compete for a chance to get listed on top exchanges, receive investments, and have a lineup of advisors ready at their disposal.The key topics will be dedicated to critical issues in the crypto industry such as the role of centralized exchanges in the decentralization movement, the battle of crypto jurisdictions, and the future of exchanges on blockchain.

The Summit will conclude with a tranquil Sunset Cruise sure to relax you as you float by the glorious Ibiza coastline. Choose from six separate vessels that will take you on one of the most memorable sea excursions. Don't miss the future - join now.

Till the end of the month Futurama Blockchain Innovators provide a special bonus - an exclusive catamaran voyage. Claim your gift now.

September 10-13
www.futuramasummit.com

For those who don't want to miss anything, we recommend joining the full European Blockchain Week from the very beginning, starting on September 11 with the Coinsbank Blockchain Cruise - a huge vessel rented specially for the biggest ever crypto event will welcome 3000 participants.

September 7-11
www.coinsbank.com/cruise

Contact:
Futurama
Julia Magas
media@futuramasummit.com

This press was issued through EmailWire.Com - a global newswire with press release distribution services. For more information, go to http://www.emailwire.com.

↧

'Panda China-Sichuan Night' Launches Inaugural China Giant Panda International Culture Week

August 21, 2018, 2:30 am

≫ Next: Tongda Group Announces 2018 Interim Results

≪ Previous: World Exchanges to debate Hacking, ICO Listing and Regulation at Futurama Summit in Spain

Giant Panda with her child, who is aged only 20 days

Giant Pandas Showing Up Together at the Shenshuping Base

A new international initiative celebrating China's Giant Panda conservation and research kicks-off with focus on Sichuan on August 21 at Intercontinental Hotel in Sanlitun, Beijing

BEIJING, Aug 21, 2018 - (ACN Newswire) - China Giant Panda International Culture Week, a new biennial international celebration of China's 60 years of conservation efforts rescuing the Giant Panda from the brink of extinction, launches today in Beijing with a 'Panda China-Sichuan Night' at the Intercontinental Hotel in Sanlitun.

Featuring a Giant Panda Culture Exhibition Area, the event hosted by Sichuan Province celebrates the preservation of the beloved icon of vulnerable species that has been at play since establishment of Wolong National Nature Reserve in 1958.

Around 200 guests included heads of related ministries and commissions, leaders from the People's Government of Sichuan Province, diplomatic envoys to China and international friends, officials from the cities, prefectures, and departments and bureaus of Sichuan Province, well-known giant panda experts, celebrities from the culture sector and entrepreneurs.

A light-up map indicated countries where China giant pandas were sent for international exchanges and cooperation.

Certificates and souvenirs were also awarded to ambassadors for the global promotion of Giant Panda culture.

With its eco-environmental achievements in saving the species adopted as an "international business card" for tourism promotion, the event also celebrated Sichuan's folk customs, culture, art and famously spicy cuisine at a banquet with artistic performances.

Supporting cultural programmes and initiatives include a 'Panda on the Road' interactive experience, 'Panda Diary' VR-AR event, Sichuan Airlines Panda-themed flight, international conference and educational exhibitions in Beijing's libraries, airports, subways, public transportation, communities, universities and cultural centres.

The heartening story of saving the Giant Panda is also told through photos, film, TV, virtual reality, research exhibits, works of art and cultural and creative products at a 'Panda China-Sichuan Theme Exhibition' open to the public from August 23-26 at The China Millennium Monument in Beijing.

Native to south-central China, Giant Pandas were on the brink of extinction as a result of deforestation of their natural habitat of bamboo forest and poaching until conservation efforts began in Sichuan.

Releasing a new progress report on the conservation campaign, Mr. Yang Chao, Director of the Protection Department of China's State Forestry and Grassland Administration, said habitat protection has since extended to 67 nature reserves through Sichuan and neighbouring Shaanxi and Gansu - compared to just 13 reserves in 1998.

According to latest estimates, the steadily growing wild population has reached 1,864 individuals.

Another 518 are in captivity worldwide - representing a "healthy, sustainable breeding population".

As the State Forestry Administration of China continues to reinforce conservation efforts for one of the worlds' most adored and protected rare animals, the Giant Panda is one of the few species with its natural habitat designated a UNESCO World Heritage Site. The Sichuan Giant Panda Sanctuaries covering seven natural reserves were inscribed onto the World Heritage List in 2006.

Mr. Yang Chao, Director of the Protection Department of China's State Forestry and Grassland Administration said 'Panda Week' is in future scheduled on the environmental calendar as a biennial international celebration of China's 50 years of conservation efforts saving the icon of vulnerable species.

Director Yang said the Giant Panda has also become a beloved cultural envoy representing friendly Chinese foreign exchanges and global environmental cooperation.

Gifts of giant pandas to foreign zoos marked some of the first cultural exchanges between China and the western world in the 1970s - known as "panda diplomacy".

Research and breeding has since extended worldwide to 22 zoos in 17 countries including the United States, Japan, Austria, Thailand, Australia, the United Kingdom, Singapore, Malaysia, Belgium, South Korea, the Netherlands, Indonesia, Finland, Germany, Canada, Spain and France.

Continuing this theme as a global ambassador, 'Chinese Giant Panda International Cultural Week' extends a philosophy of "peace, development, cooperation and mutually beneficial relationships" to the world.

Director Yang added: "After much hard work and effort, conservation efforts have yielded significant results in multiple avenues. Saving the Giant Panda has served as a benchmark for respecting China's natural environment."

In 2017, a newly-amended Law of the People's Republic of China on the Protection of Wildlife further strengthened protection of endangered species such as the Giant Panda by reinforcing measures to preserve natural forests and build protective areas for wildlife and plants.

Giant Panda habitats are some of the most biologically diverse in the world, with panda conservation benefiting the entire eco-system of reserves, preserving more than 8,000 species of wild animals and plants.

"To preserve the panda and its natural habitat is to reap all of the ecological, societal and economic benefits associated with it," Director Yang said.

The general public increasingly recognizes and respects China's natural environment as a "true, invaluable national treasure".

While strengthening protection and preservation of wild Giant Pandas, research centres including the Chengdu Research Base of Giant Panda Breeding and Shanxi Louguantai Giant Panda Rescue Center continue advancing scientific research into breeding in captivity.

As well as loss of habitat, the Giant Panda's survival has been additionally hindered by a curious lack of libido, brief breeding season, low fertility and poor survival rate of cubs.

China has so far bred 63 Giant Panda cubs through artificial insemination, with 58 surviving. "By the end of 2017, the captive Giant Panda population reached 518, achieving basic self-sustainment," he said.

As a result of conservation success, the International Union for Conservation of Nature reclassified the species in 2016 from endangered - meaning threatened with extinction - to 'conservational-reliant vulnerable', indicating positive population recovery with conservation support.

China is also now embarking on creating a Giant Panda National Park three times the size of Yellowstone National Park in the US protecting 70% of its habitat and 86% of the wild population.

The future of the Giant Panda now seems safely assured, albeit with continued conservation help.

'China Giant Panda International Culture Week' is formally launched at the China Millennium Monument in Beijing on August 23, joined by United Nations officials including Mr. Tu Ruihe, China's representative on the United Nations Environment Programme, foreign envoys and representatives of the World-Wide Fund for Nature (WWF) which has adopted the panda as its symbol, and experts and scholars in panda conservation research.

About the Giant Panda

Native to south-central China, the Giant Panda was on the brink of extinction from deforestation of its natural habitat of bamboo forest and poaching until conservation efforts formally began in 1958 with the establishment of Wolong National Nature Reserve in Sichuan.

Habitat protection has since extended to 67 nature reserves through Sichuan and neighbouring Shaanxi and Gansu - compared to just 13 reserves in 1998.

Wild population estimates vary, with latest estimates of steady growth reaching 1,864 individuals along with 518 in captivity worldwide - representing a healthy, sustainable breeding population.

As a result of conservation success, the species has been reclassified since 2016 from endangered to 'conservational-reliant vulnerable' by the International Union for Conservation of Nature.

As the State Forestry Administration of China continues to reinforce conservation efforts for one of the world's most adored and protected rare animals, the Giant Panda is one of the few species with its natural habitat designated a UNESCO World Heritage Site. The Sichuan Giant Panda Sanctuaries covering seven natural reserves were inscribed onto the World Heritage List in 2006.

China is now embarking on creating a Giant Panda National Park protecting 70% of its habitat and 86% of the wild population by amalgamating and extending reserves in Sichuan, Shaanxi and Gansu.

The park will cover 27,134 square kilometres, three times the area of Yellowstone National Park in the US.

By spanning three provinces, it aims to encourage migration of the species to strengthen its gene pool.

As most of the area is mountainous where residents are poor, it will also enable local governments to alleviate poverty.

A fund of at least 10 billion yuan (US$1.57 billion) will finance a variety of poverty alleviation projects from 2018 to 2023. The programme includes financial assistance, charity foundation, disaster relief, community education, tourism development and ecological construction.

Qumu Shiha, head of a national park working group, called the initiative a "big step to building a moderately well-off society" in the region.

"It will help mobilise the efforts of the whole society into protecting giant pandas, promoting harmony between nature and humans, and exploring a new model to combining environmental protection, financing, poverty reduction and charity care."

He described the vision as a "model for ecological development and social development globally."

For more information please contact:
Rhoda Adams
GHC Asia Beijing
Mobile: +86 (0) 158 1034 2850
Email: rhoda.adams@ghcasia.com

↧

Tongda Group Announces 2018 Interim Results

August 21, 2018, 3:07 am

≫ Next: Kinetic Mines Record High in 2018 Interim Results; Net Profit Increased 115.8% To RMB399.4 Million

≪ Previous: 'Panda China-Sichuan Night' Launches Inaugural China Giant Panda International Culture Week

Net Profit Attributable to Owners of The Company Grows 44.2% to HK$418.9 Million;
Covers All Markets and Strives to Increase Market Share

HONG KONG, Aug 21, 2018 - (ACN Newswire) - Tongda Group Holdings Limited ("Tongda Group" or the "Group") (stock code: 698) today announced its unaudited interim results for the six months ended 30 June 2018 (the "Period").

During the Period, on the back of the growth in shipment volume of major customers, revenue of the Group grew by 14.7% to approximately HK$4,150.3 million and gross profit margin was 23.1%. Net profit attributable to owners of the Company increased by 44.2% to approximately HK$418.9 million. Earnings per share were HK6.91 cents.

The Board has recommended payment of an interim dividend of HK2.0 cents per share for the Period (2017: HK1.6 cents).

The Group maintained a solid financial position. As of 30 June 2018, it had a pledged deposits balance and cash and cash equivalents of HK$1,496.5 million (31 December 2017: HK$1,274.2 million).

Mr. Wang Ya Nan, Chairman and CEO of Tongda Group, said, "Despite the challenging global economic situation and intense competition within the industry, as a world-leading solutions provider of high-precision components for smart mobile communications and consumer electronic products, the Group has maintained a strong relationship with domestic and foreign leading brands over the years by capitalizing on our leading technological advantages and one-stop solutions. During the Period, the Notebook Computer segment was spun off and successfully listed on the Main Board of the Stock Exchange Hong Kong. With rising shipment volumes of major customers, the Group has successfully seized the opportunities which in turn gradually boosted the overall performance."

Business Review
Handset Casings and High-precision Components
During the Period, the performances of major customers in oversea markets were satisfactory, as the Group continued to adjust its customer mix and product portfolio, and to expand the scope of cooperation with major handset customers. This business recorded an increase of 22.9% from HK$2,355.5 million in the corresponding period of last year to HK$2,894.9 million, representing 69.7% of the total turnover.

In order to cater to the physical demand for wireless charging and changes in design of international high-end handsets, the handset market has shifted from being dominated by metal casings last year to introducing In-Mold Transfer (IMT) uni-body casing that has a similar texture with glass or adopting metal middle frames with non-metal back covers (such as 2.5D/3D IMT, composite materials, glass or ceramic back covers) as fashionable specifications. As a major domestic supplier of IMT casings, the Group focuses on providing non-metal back covers and uni-body casings for handset models with a large shipment volume and high price-performance ratio, and the demand for these models rapidly rose during the Period. Meanwhile, the demand for traditional metal handset casings remained stable, as did the Group's customer mix and product portfolio mix in this category.

As for the tri-proof (waterproof / dustproof / shockproof) and high-precision components, the additional production capacity was gradually ramped up in the first half of the year. Moreover, the Group has proactively carried out product research and development ("R&D"), staff recruitment and training for the new project of a major customer in the second half of the year, in order to handle further diversified products and orders during that time. The specialized team of the Group has worked closely with its customers and has currently participated in their different business divisions, in order to achieve horizontal expansion of multiple products and to lay a firm foundation for a long-term partnership.

Smart Electrical Appliances Casings
This business primarily engages in manufacturing control panels, metal accessories and casings for high-end electrical appliances for Chinese and international brands. During the Period, its turnover increased by 32.4% from HK$381.8 million in the corresponding period of last year to HK$505.6 million, representing 12.2% of the total turnover. Its products include smart electrical appliances, such as air-conditioners, washing machines and refrigerators, which are applicable to the Internet of Things.

Household and Sports Goods
The segment supplies durable household goods, household utensils and sports goods to European and U.S. brands. During the Period, its turnover increased by 33.2% from HK$267.7 million in the corresponding period of last year to HK$356.6 million, representing 8.6% of the total turnover.

Network Communications Facilities and Others
During the Period, turnover of this segment has amounted to HK$309.7 million, representing 7.5% of the total turnover. The Group mainly produces set-top box casings and interior decorations of automotive for customers in Europe and the U.S. The Group has currently secured over 30 orders from ten automotive brands, for some of which design and trial production have been underway in the first half of this year. Together with the stable production for the existing projects, the overall business has developed rapidly.

Percentage of the Total Revenue by Product Type for the Six Months Ended 30 June 2018 Compared with the Previous Corresponding Period:

2018 2017
Handsets Casings and High-precision Components 69.7% 65.1%
Smart Electrical Appliances Casings 12.2% 10.6%
Household and Sports Goods 8.6% 7.4%
Network Communication Facilities and Others 7.5% 10.2%
Notebook Computers 2.0% 6.7%

Prospects
With the rapid growth in the past few years, the handset industry is tending to maturity with the continuous integration of various brands in China. The Group faces increasingly intensified competition, which requires it to optimize its own competitive advantages in order to secure its market share. Its proprietary surface decorating technology is applicable to different materials, forming a matrix with various craftsmanship and technologies for all types of products to lead the market in both quality and scale, enabling the Group to address the shifts in trends more efficiently and comprehensively, as well as to tap the opportunities in the ever-changing markets.

Looking ahead, the proportion of the high-precision components business will keep increasing at a fast pace. The Group is working closely with various business divisions of its major customers. In the future, it will dedicate greater efforts to R&D so as to broaden its own technical capabilities. At the same time, the Group will remain dedicated to coordinating and carrying out development with customers in close concert at the initial design stage in order to seize greater involvements in projects and gain a larger share of their business. It would also proactively expand the product lines with its customers so as to forge a solid and lasting partnership.

Mr. Wang concluded, "In the face of the unstable global markets and maturing handset industry, together with the potential risks of a US-China trade dispute and the swift depreciation of the Renminbi, our gross profit margin may be subject to continuous pressure if situation worsens in the second half of 2018. The Group will keep abreast of changing market conditions leveraging its own technological development capabilities and quality customer base. Internally, we are committed to increasing the Group's production efficiency and comprehensive competitiveness through enhancing our capacity in product competitiveness and cost control and management, in order to tackle the challenges ahead and achieve sustainable growth."

About Tongda Group Holdings Limited
Tongda Group is the world's leading solutions provider of high-precision components used in smart mobile communication and consumer electronic products. The Group has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since 2000, under the Information Technology - IT Hardware category, and has been selected as a constituent stock in the Hang Seng Composite LargeCap & MidCap Index, Hang Seng Composite Industry Index - Information Technology, Hang Seng SCHK ex-AH Companies Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index and Hang Seng Global Composite Index. The Group garners the DHL/SCMP Hong Kong Business Awards 2015 - Enterprise Award and has been selected to the Forbes Asia's 200 "Best Under A Billion" list in 2016. Mr. Wang Ya Nan, Chairman and CEO of the Group has been named the winner in the technology category of EY Entrepreneur of the Year China 2016.

Leveraging its leading metal casings, In-Mold Lamination ("IML") and insert molding business technology, as well as the stable and high-quality clientele, the Group has established a solid presence in the markets for handsets, smart electrical appliances and automotive interior decorative business. The Group is dedicated to satisfying customers' needs through establishing global service networks in various regions, with strategically located production bases in Shishi city, Xiamen, Shanghai and Shenzhen, as well as R&D centres in Shanghai and Taiwan.

For press enquiries
Strategic Financial Relations Limited
Vicky Lee Tel: 2864 4834 Email: vicky.lee@sprg.com.hk
Ka Wai Li Tel: 2864 4855 Email: kawai.li@sprg.com.hk
Angela Wong Tel: 2114 4953 Email: angela.wong@sprg.com.hk
Fax: 2527 1196

↧

Kinetic Mines Record High in 2018 Interim Results; Net Profit Increased 115.8% To RMB399.4 Million

August 22, 2018, 1:10 am

≫ Next: Fujitsu Presents Post-K CPU Specifications

≪ Previous: Tongda Group Announces 2018 Interim Results

Focuses on Efficient Operation; Achieves Sustainable Growth

HONG KONG, Aug 22, 2018 - (ACN Newswire) - Kinetic Mines and Energy Limited ("Kinetic Mines", together with its subsidiaries, the "Group"; stock code: 1277), a leading integrated coal enterprise in China, is pleased to announce its interim results for the six months ended 30 June 2018 (" the period under review").

2018 Interim Results Financial Highlights:
- Revenue increased by 56.0% to RMB1,150.4 million
- Gross profit margin increased to 50.0%
- Net profit amounted to RMB399.4 million, representing a period-on-period growth of 115.8%
- EBITDA reached RMB621.6 million
- Gearing ratio decreased to 22.2%
- Basic earnings per share amounted to RMB0.047
- Proposed interim Dividend per share amounted to HKD0.015

During the period under review, Kinetic Mines continued its growth momentum, as the sales volume and the net profit of coal products significantly increased with great contribution to the Group's financial performance. For the six months ended 30 June 2018, the Group recorded a total revenue of RMB1,150.4 million, representing a period-on- period growth of 56.0%. Net profit increased 115.8% to RMB399.4 million. During the period under review, the Group's gross profit margin also rose 9.7 percentage points to 50.0%, which was mainly attributable to better economies of scale and efficiency from operations. Gearing ratio reduced to 22.2%. Basic earnings per share was RMB0.047. The Group achieved a substantial growth in its cash flow, the EBITDA for the six months ended 30 June 2018 grew 80.0% and reached RMB621.6 million. The Board of Directors proposed an interim dividend of HKD0.015 per share to its shareholders, a 50% increase compared with the interim dividend last year.

For the six months ended 30 June 2018, the Group sold a total of approximately 2.51 million tonnes of commercial coal, increasing by 63.0% as compared with the corresponding period last year. The average selling price of coal products per tonne was RMB456 (net of value-added tax).

In the first half of 2018, the coal market went upward with a favorable momentum as last year, which speeded up the output of high quality production capacity. Supply and demand was generally balanced in the PRC coal market and coal prices stayed at a reasonable level. Moreover, the capacity and utilization of rail transportation and port handling maintained a steady growth. Under the backdrop of macroeconomic regulation and control, the coal industry had an overall favorable development.

By leveraging the competitive edge of efficient operation, enhanced production technology and experience, better cost-effectiveness, the output and sales volume of the Group is maintaining an upward momentum. In addition, the Group has a well-developed industry chain and implemented refined management, attaching great importance to environmental protection and production safety. By taking advantage of the Group's substantial capital investments in early stage, its Dafanpu Coal Mine is built as one of the best coal mines in terms of safety and efficiency in China.

Mr. Zhang Li, Chairman and Executive Director of Kinetic Mines, said, "Looking forward to the second half of 2018, the PRC government will maintain the policy of supply-side reform and actively shed excess production capacity, while steadily and orderly promoting the consolidation of coal resources and maintain the stability of coal industry. The Group is cautiously optimistic about the development of the coal industry. It is expected the Group's business will be stable and healthy in the second half of 2018 and the Group is able to maintain its stable profit and cash flow. By leveraging on its core competitiveness, the Group will continue to seize market opportunities, and actively explore quality projects, striving for better returns for shareholders."

About Kinetic Mines and Energy Limited
Kinetic Mines and Energy Limited is a leading integrated coal enterprise in China covering in coal production, washing, loading, transportation and coal trading. Well-established business segments throughout the industry chain can optimize the Group's profit. In addition, thanks to the Group's large capital investment in the previous years, its "Dafanpu" is built as one of best coal mine in terms of safety and efficiency in China. This ensures the Group's production costs per tonne maintained at the lowest industry level. By leveraging the competitive edge of low cost and industry chain owned by the Group, Kinetic Mines is able to maintain a strong cash flow and profit in current coal market.

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Fujitsu Presents Post-K CPU Specifications

August 22, 2018, 3:33 am

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Photo of the A64FX Package

A64FX Block Diagram

A64FX Specifications

Peak performance of over 2.7 TFLOPS to realize outstanding HPC and AI capabilities

TOKYO, Aug 22, 2018 - (JCN Newswire) - Fujitsu today announced publication of specifications for the A64FX CPU to be featured in the post-K computer, a supercomputer being developed by Fujitsu and RIKEN as a successor to the K computer, which achieved the world's highest performance in 2011. The organizations are striving to achieve post-K application execution performance up to 100 times that of the K computer.

A64FX is the world's first CPU to adopt the Scalable Vector Extension (SVE), an extension of Armv8-A instruction set architecture for supercomputers. Building on over 60 years' worth of Fujitsu-developed microarchitecture, this chip offers peak performance of over 2.7 TFLOPS, demonstrating superior HPC and AI performance.

Fujitsu made the announcement at Hot Chips 30(1), an international symposium on high performance processors and related technologies held in Silicon Valley, California from August 19-21.

Post-K is the successor to the K computer which in 2011 achieved the highest ranking in the world on the TOP500 list of supercomputers around the world. Fujitsu and RIKEN are developing post-K, aiming for starting operation around 2021.

A64FX is the high-performance CPU that will be used in post-K. It offers a number of features, including broad utility supporting a wide range of applications, massive parallelization through the Tofu interconnect, low power consumption, and mainframe-class reliability. A64FX is the world's first CPU to adopt the SVE of Arm Limited's Armv8-A instruction set architecture, extended for supercomputers.

Fujitsu collaborated with Arm, contributing to the development of the SVE as a lead partner, and adopted the results in the A64FX. Fujitsu developed the microarchitecture of the A64FX by building on the technology of its previous supercomputers, mainframes, and UNIX servers. With hardware technology that draws out the high memory bandwidth of high performance stacked memory, the system can efficiently utilize the CPU's high functional computational processing units, enabling delivery of high application execution performance. The CPUs will be directly connected by the proprietary Tofu interconnect developed for the K computer, improving parallel performance. The system can provide a peak double precision (64 bit) floating point operations performance of over 2.7 TFLOPS, with a computational throughput twice that amount for single precision (32 bit), and four times that amount for half precision (16 bit). In other words, by using single precision or half precision operations, applications can get results even faster. Fujitsu has also enhanced computational performance for 16 bit and 8 bit integer operations. Accordingly, this CPU is suited for a wide range of fields such as big data and AI, not just for the computer simulations at which traditional supercomputers excel.

The Arm architecture is widely accepted by software developers and users, and by participating in the Arm community, Fujitsu can utilize its software resources, including open source software, while also contributing to the expansion of the Arm architecture ecosystem.

http://www.acnnewswire.com/topimg/Low_A64FXPackage.jpg
Photo of the A64FX Package

http://www.acnnewswire.com/topimg/Low_A64FXBlockDiagram.jpg
A64FX Block Diagram

A64FX Specifications
http://www.acnnewswire.com/topimg/Low_A64FXSpecifications.jpg

Future Plans

Through the development of post-K, which will be equipped with this CPU, Fujitsu will contribute to the resolution of social and scientific issues in such computer simulation fields as cutting-edge research, health and longevity, disaster prevention and mitigation, energy, as well as manufacturing, while enhancing industrial competitiveness and contributing to the creation of Society 5.0 by promoting applications in big data and AI fields.

(1) Hot Chips 30 A symposium held every year by the US Institute of Electrical and Electronics Engineers (IEEE).
(2) DGEMM A component in computational programs used for benchmarking. A subroutine that computes matrix multiplication.
(3) STREAM Triad A benchmark used as an indicator of memory access performance. It measures sustained memory bandwidth when the processor is accessing memory.

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 140,000 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 4.1 trillion yen (US $39 billion) for the fiscal year ended March 31, 2018. For more information, please see http://www.fujitsu.com.

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

Contact:
Fujitsu Limited
Public and Investor Relations
Tel: +81-3-3215-5259
URL: www.fujitsu.com/global/news/contacts/

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KWIH Announces 2018 Interim Results

August 22, 2018, 5:50 am

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Record Attributable Contracted Sales To Be Recognised of HK$18.5 Billion; Providing Solid Base for Future Profitability;
Increased 20% in Interim Dividend to 6 HK Cents Per Share; Showing Confidence in Business Development

HONG KONG, Aug 22, 2018 - (ACN Newswire) - K. Wah International Holdings Limited ("KWIH" or "the Group") (stock code: 00173) today announced its unaudited interim results for the six months ended 30 June 2018.

During the first half of the year, KWIH recorded satisfactory sales as a result of its sound and shrewd strategies deployed in Hong Kong and Mainland China project launches. As of 30 June 2018, unrecognised attributable contracted sales exceeded HK$18.5 billion, mainly accounted for by K. City and Solaria in Hong Kong, The Palace in Shanghai, The Peak and Royal Creek in Nanjing, J Metropolis and Le Palais in Guangzhou and Silver Cove in Dongguan. Upon delivery of possession of the pre-sold units to buyers for these projects after completion expected to be in the next 24 months, the contracted sales will be recognised, thereby underpinning the Group's future profits. In particular, the occupation permit for K. City in Hong Kong was obtained in August. The Group has filed the application for its certificate of compliance and aim for completing the delivery of possession within the year. The project's contracted sales of HK$9.2 billion can then be recognised.

Given that less contracted sales were recognised and the Hong Kong Financial Reporting Standards 15 became effective this year, the attributable revenue and the underlying profit dropped to HK$679 million and HK$32 million respectively. Profit attributable to equity holders amounted to HK$578 million. Considering the total amount of unrecognised attributable contracted sales and the good progress of our project development, the Board of Directors increased the interim dividend to 6 HK cents per share, up 20% year-on-year, showing the strong confidence it had in the Group's stable development and its ongoing efforts to provide shareholders stable returns.

Dr Lui Che-woo, Chairman of KWIH, said, "In the first half of 2018, despite all the challenges in the global and domestic markets, Hong Kong's residential property market remained buoyant due to its strong economic fundamentals and market demands. In Mainland China, the Group believes that the Central Government will continue to aim for stabilizing its property market. With the experience gained from developing our business in the Mainland China market over the years, in addition to the competitive advantages from our commitment to quality and excellence, the Group will adopt a flexible development approach amid market changes."

Sales remained strong, laying solid foundations
Despite the property tightening measures that continued in Hong Kong and Mainland China in the period under review, the Group successfully launched its high-quality projects in a timely manner: In Hong Kong, Solaria, a residential project in Pak Shek Kok, Tai Po received an overwhelming response when first launched in early June. Until mid-August, the project sold nearly 700 units, equivalent to approximately 90% of the total units launched, for the sales amount of HK$6,000 million. In Guangzhou, units of J Metropolis phase 4 - UpTown launched were well received with around 75% of the total units sold since April, benefitted from the outstanding sales of the previous phases. The Group will also continue to market existing projects in Shanghai, Nanjing, Guangzhou and Dongguan.

On track with expansion plan through flexible development strategy
The Group focuses on developing property projects in Hong Kong and major cities in the Yangtze River and Pearl River Deltas while also exploring opportunities in adjacent cities. Following the success in 2017 of land replenishment in Hong Kong and several cities in Mainland China, the Group adopted a flexible development strategy in 2018 and participated in a JV project in Kunshan in early 2018 and subsequently two further JV projects in July in Suzhou and Jiangmen respectively. Furthermore, a 100% interest in a new land site in Dongguan was acquired in early August to further expand KWIH's business presence. The four new projects together contributed to the Group an attributable GFA of around 250,000 sqm.

New development projects to be rolled out to fuel future growth
Hong Kong:
The second project in Kai Tak
The foundation works of the Group's second project in Kai Tak are underway and preparation work for pre-sale consent application is also in progress.

Yangtze River Delta:
Windermere, Azure and The Palace III - Le Haut in Shanghai
Windermere, located in Zhujiajiao in Shanghai's Qingpu District, is pending the official approval for its selling prices while the Group is also working on the sales arrangement. The project boasts spectacular lake views and enjoys convenient transport links between the city centre and Qingpu District, following the opening of the Shanghai Metro Line 17 at the end of last year. Furthermore, the Group plans to launch, subject to market conditions, Azure in Pudong District and The Palace III - Le Haut, a luxury residence in Shanghai's city centre Xu Hui District.

JV Projects in Kunshan and Suzhou
Government approvals for the construction of the JV projects located in the Kunshan Economic & Technological Development Zone and National High-Tech District, Suzhou had been obtained. Pre-sales are expected later this year.

Expanding recurrent income property portfolio is set to increase overall rental income
KWIH strives to increase recurring rental income and cash flow. During the period under review, rental income (including hotel income) grew significantly, by 25% year-on-year to HK$325 million. The key growth came from the two towers of Stanford Residences Xu Hui, a high-end serviced apartment opened in mid-2017, as well as additional investment properties put to lease.

As for serviced apartments, two new towers at Stanford Residences Xu Hui in The Palace, Shanghai, received an occupation permit in the first quarter of 2018. One tower launched in April achieved occupancy rate of around 90%, while leasing of the other tower has also just started. Stanford Residences Jing An in Grand Summit, another premium luxury residence in Shanghai, maintained a high occupancy rate at an average of 85%.

As for commercial facilities, as at the end of June 2018, J SENESES, a specialty retail and dining complex in Hong Kong, recorded an occupancy rate of 100%. Palace Lane in The Palace, Shanghai was fully opened with occupancy rate currently 75%. J Town in Silver Cove, Dongguan was also fully opened in the first half of the year, with an occupancy rate of approximately 80%. Each of these projects delivered decent performance and provided satisfactory rental income.

In addition, Shanghai K. Wah Centre, a Grade-A office tower, recorded an average occupancy rate of 95%. Both occupancy and room rate at the Crowne Plaza Guangzhou Huadu achieved modest growth.

Stable and healthy financials to sustain development
KWIH has continued to maintain a sound financial position. As of 30 June 2018, the Group's total assets increased by HK$1,740 million to HK$74,250 million. Cash and bank deposits amounted to HK$6,180 million. In a rising interest-rate environment, KWIH managed to maintain the average interest rate at 2.3% during the period, slightly up by 0.3 percentage point compared to the 2017 annual average. As at June end, the net gearing ratio rose to 40% compared to 34% at the end of 2017, after the Group paid the outstanding land premium balances for the projects in Suzhou and Jiangmen acquired last year of around HK$1,000 million as well as tax payments for certain projects upon tax clearance in Mainland China.

Dr Lui concluded, "Looking ahead to the second half of the year, headwinds are strengthening on external factors such as the ongoing China-US trade tensions, the volatility of the Renminbi and the Turkish currency crisis. KWIH will keep a close eye on global political and economic changes and deal with the opportunities and challenges that may arise. In the meantime, we will keep our development plan on track and replenish land reserves with a robust strategy to drive business development and provide our shareholders with satisfactory returns."

About K. Wah International Holdings Limited (stock code: 00173)
K. Wah International Holdings Limited ("KWIH"), listed in Hong Kong in 1987, is the property flagship of K. Wah Group. An integrated property developer and investor with a foothold in Hong Kong, the Yangtze River Delta and Pearl River Delta regions, KWIH encompasses a portfolio of premium residential developments, Grade-A office towers, retail spaces, hotel and serviced apartments. Driven by a keen market sense and a versatile strategy, and backed by strong financial capability, KWIH has built up a prime land reserve in major cities of China, and thus a strong foothold for future growth.

KWIH is a constituent stock of the Hang Seng Composite MidCap Index and MSCI Hong Kong Small Cap Index as well as an eligible stock under the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect programmes. KWIH held a 3.8% stake in Galaxy Entertainment Group Limited (stock code: 00027) as of 30 June 2018.

Website: http://www.kwih.com

Media Enquiries:

K. Wah International Holdings Limited
Keith Hon Tel: (852) 2960 3314 Email: keithhon@kwah.com
Helen Yu Tel: (852) 2880 8270 Email: helenyu@kwah.com
Fax: (852) 2811 9710

Strategic Financial Relations Limited
Iris Lee Tel: (852) 2864 4829 Email: iris.lee@sprg.com.hk
Maggie Au Tel: (852) 2864 4815 Email: maggie.au@sprg.com.hk
Antonio Yu Tel: (852) 2114 4319 Email: antonio.yu@sprg.com.hk
Fax: (852) 2527 1196

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Synthesio Named a Leader in Independent Social Listening Platforms Report

August 22, 2018, 1:00 am

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Synthesio Received The Highest Scores For the Data Sources and Pricing Strategy Criteria

NEW YORK, Aug 22, 2018 - (ACN Newswire) - Synthesio, the leading Social Intelligence Suite, has been named a Leader in The Forrester Wave(TM): Social Listening Platforms, Q3 2018 report. For this report, Forrester identified and reviewed the most significant Social Listening Platforms, and after going through their 40-criteria evaluation, Synthesio received the top scores for the Data Sources and Pricing Strategy criteria, and has been named a Leader.

The Forrester Wave(TM): Social Listening Platforms, Q3 2018 report states that "Synthesio consistently delivers the essentials for a social listening platform" and "is a sound choice for brands." The report accurately notes that "Synthesio anticipates a convergence among marketing, communication, and customer experience disciplines." It also notes that "Synthesio offers a platform that solidly checks the boxes for key functional requirements with FlashDash for instant search, Profiler for audience analysis, Page Karma for benchmarks, and Bunkr for presentations." The report also commented that customers can "appreciate Synthesio's straightforward pricing by number of dashboards with unlimited seats, data, and queries."

"Everyone in our industry eagerly awaits for this report to be published, as we believe it truly sets apart vendors with the strongest product and strategy in the social listening market," said Synthesio Co-Founder and CEO Loic Moisand. "It's a true honor that we were named a Leader in this report."

Synthesio CMO Chris Vitti explained that "building an industry-leading product, and being able to envision the future needs of our customers, is incredibly important to everyone at Synthesio. While we are obviously thrilled to be recognized as a Leader, we are especially proud that we received the highest possible scores for the Account Management and Professional Services criteria, as our customers' success is our number one priority."

Synthesio has developed its Social Intelligence Suite with two acquisitions, Social Karma and Bunkr, new solutions and industry events. Learn how we believe Synthesio continues to set the standard in 2018 and beyond by downloading a complimentary copy of The Forrester Wave(TM): Social Listening Platforms, Q3 2018. https://bit.ly/2BzK3g7

About Synthesio

Since its founding in 2006, Synthesio has been providing brands and agencies around the world with social listening tools and audience insights to measure the impact of social and mainstream media. The Synthesio Social Intelligence Suite surfaces strategic insights from the most extensive collection of customer data on the market. Teams across the enterprise can leverage dashboards, pre-built templates, customizable reports, and social media command center displays to extend the benefits of social intelligence throughout their organization. Synthesio has offices in New York, Paris, London, Singapore, and Brussels.

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Eisai: European Commission Grants Marketing Authorization for LENVIMA (Lenvatinib)

August 23, 2018, 1:00 am

≫ Next: IOTW Ports Micro-Mining Software to Realtek Wifi Chipsets; Allowing Millions to Mine Cryptocurrency

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As First-Line Treatment in Adults with Advanced or Unresectable Hepatocellular Carcinoma

TOKYO, Aug 23, 2018 - (JCN Newswire) - Eisai Co., Ltd. and Merck & Co., Inc., Kenilworth N.J., U.S.A., known as MSD outside of the United States and Canada, announced today that the European Commission (EC) has granted a marketing authorization for the oral receptor tyrosine kinase (RTK) inhibitor LENVIMA (lenvatinib mesylate) as a single agent for the first-line treatment of adult patients with advanced or unresectable hepatocellular carcinoma (HCC) who have received no prior systemic therapy. This is the first new first-line treatment option for advanced or unresectable HCC to be approved in Europe in approximately 10 years.

This approval was based on results from REFLECT (Study 304), where LENVIMA demonstrated a treatment effect on overall survival (OS)(1) by statistical confirmation of non-inferiority, as well as statistically significant superiority and clinically meaningful improvements in progression-free survival (PFS)(2) and objective response rate (ORR) (3) when compared with sorafenib in patients with previously untreated unresectable HCC.

REFLECT showed that LENVIMA achieved the primary endpoint, demonstrating a treatment effect on OS by statistical confirmation of non-inferiority to sorafenib. Patients treated with LENVIMA experienced a median OS of 13.6 months compared to 12.3 months with sorafenib (Hazard Ratio (HR): 0.92; 95% Confidence Interval (CI): 0.79-1.06). The OS analysis was conducted as prespecified in the statistical analysis plan when 351 events had occurred in the LENVIMA arm and 350 events had occurred in the sorafenib arm. Regarding secondary efficacy endpoints, according to independent imaging review based on mRECIST criteria, LENVIMA showed statistically significant superiority and clinically meaningful improvements as compared to sorafenib in median PFS: LENVIMA 7.3 months versus sorafenib 3.6 months (HR: 0.64; 95% CI: 0.55-0.75; p
In the EU package insert, the most frequently reported adverse reactions (occurring in >/=30% of patients) are hypertension (44.0%), diarrhoea (38.1%), decreased appetite (34.9%), fatigue (30.6%), and weight decreased (30.4%).

Liver cancer is the second leading cause of cancer-related death and is estimated to be responsible for 750,000 deaths per year globally, with 780,000 cases newly diagnosed each year.(1) HCC accounts for 85% to 90% of liver cancer cases. Treatment options for unresectable HCC are limited and the prognosis is poor, making this an area of high unmet medical need.

Currently, LENVIMA is also available under the product name Kisplyx in combination with everolimus for use in the treatment of renal cell carcinoma (second-line treatment) in Europe. LENVIMA is available for use in the treatment of thyroid cancer in over 50 countries including in Europe, Japan and the United States. In Japan, approximately 3,000 HCC patients have been treated with LENVIMA since the approval of the HCC indication in March 2018.

(1) Overall Survival (OS): The time period from the commencement of cancer treatment up until death by any cause. Whether the cause of death is cancer or not is not taken into consideration for this variable.
(2) Progression Free Survival (PFS): PFS is the objectively confirmed time from the commencement of cancer treatment to the date of disease progression, or date of death from any cause, whichever occurs first.
(3) Objective Response Rate (ORR): ORR is the combined proportion of patients whose tumor was eliminated (complete response) and whose tumor was reduced by over 30% in size (partial response) as verified by imaging assessment.

About Eisai

Eisai Co., Ltd. is a leading global research and development-based pharmaceutical company headquartered in Japan. We define our corporate mission as "giving first thought to patients and their families and to increasing the benefits health care provides," which we call our human health care (hhc) philosophy. With approximately 10,000 employees working across our global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to realize our hhc philosophy by delivering innovative products in various therapeutic areas with high unmet medical needs, including Oncology and Neurology.

As a global pharmaceutical company, our mission extends to patients around the world through our investment and participation in partnership-based initiatives to improve access to medicines in developing and emerging countries.

For more information about Eisai Co., Ltd., please visit https://www.eisai.com.

Contact:
Eisai Co., Ltd.
Public Relations Department 
+81-(0)3-3817-5120

↧

IOTW Ports Micro-Mining Software to Realtek Wifi Chipsets; Allowing Millions to Mine Cryptocurrency

August 23, 2018, 3:00 am

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HONG KONG, Aug 23, 2018 - (ACN Newswire) - AnApp Blockchain Technologies Limited ("AnApp"), the IoT blockchain developer behind IOTW (a new blockchain for IoT applications), announces the porting of their micro-mining software to the Realtek Ameba (RTL8710BN) Wifi chipset, with strong technical support from Realtek Semiconductor Corp ("Realtek") (www.realtek.com).

Realtek is publicly listed in Taiwan, ranks among the top three fabless semiconductor design houses in Taiwan and is one of the world's leading network and TV chipset providers, with revenue of over US$1.3 billion last year. Products using Realtek's chipsets have penetrated hundreds of millions of households, and this cooperation will allow devices powered by Realtek solutions to mine IOTW coins.

Despite all the recent publicity surrounding blockchain and digital currencies, most people are unable to benefit from it, mainly due to the technological complexity to mine cryptocurrencies. IOTW, the IoT blockchain venture by AnApp, seeks to change this by allowing nearly all connected IoT devices (30 billion by 2020) to mine IOTW tokens without any additional hardware requirements.

Commenting on the development, Frederick Leung, co-founder and CEO of AnApp, said "Realtek is a worldwide leader in fabless semiconductor supply and their products are used in millions of homes and offices. Porting our micro-mining software to Realtek Wifi chipsets marks a major step for IOTW's adoption and penetration."

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