Yearly Archives: 2020

PR Newswire

China Liberal Education Holdings Limited Starts Higher Volume Production and Expands Domestic Sales Channels of All-in-one Machine AI-Space

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BEIJING, Dec. 18, 2020 — China Liberal Education Holdings Limited (Nasdaq: CLEU) ("China Liberal", or the "Company", or "we"), an educational services provider in China, today announced that the Company had started higher volume production and expanded domestic sales channels of AI-Space ("AI-Space"), an all-in-one machine designed to provide highly integrated visualization solutions for various scenarios with strict reliability requirements.

The Company has signed four regional sales cooperation agreements (the "Agreements") with four companies (the "Regional Sales Agents") covering the markets of five provincial-level regions in China, which are Sichuan, Shandong, Inner Mongolia, Shanxi and Fujian.

Pursuant to the Agreements, the Company authorized Shanxi Guangyun Jiuzhou Technology Co., Ltd, Chongqing Xueding Commerce and Trade Co., Ltd, Beijing Yunban Technology Co., Ltd and Xiamen Deyu Tiancheng Technology Co., Ltd. as sales agents to sell AI-Space to universities in the regions they cover, effective for one year from January 1 to December 31, 2021. The Regional Sales Agents agreed to take charge of the marketing and sales of AI-Space, maintain the brand image of China Liberal, and collect the sales and market feedback timely.

The Company also signed two project framework agreements (the "Framework Agreements") with two Chinese host universities, namely Fuzhou Melbourne Polytechnic ("FMP") and Straits Institute of Minjiang University ("Minjiang University") on December 10, 2020.

Pursuant to the Framework Agreements, the Company agreed to deliver AI-Space to FMP and Minjiang University by the agreed delivery dates, assist in product debugging and provide after-sales services. FMP and Minjiang University can purchase AI-Space from the Company at a fixed price for 2 years.

AI-Space can be applied to various scenarios including command center, lecture hall, conference room, multi-functional exhibition hall, smart classroom, vehicle emergency, portable command, telemedicine, science and technology court, and smart home. The Company began to develop AI-Space in September 2019, following a thorough market research and demand analysis. AI-Space adopts the design concept of all-in-one, and integrates audio processor, seamless mixed video matrix unit, programmable central control unit, gigabit switch unit, cross-platform runtime, recording and broadcasting codec, video conference terminal and multi-party interactive MCU. It adopts a hot-swappable design, which is easy to operate, has powerful application functions and can be applied to a wide range of applicable scenarios, offering users integrated solutions.

Ms. Ngai Ngai Lam, Chairwoman and CEO of China Liberal, commented, "We are excited to have entered into the Agreements with the Regional Sales Agents after careful selection, and have entered into the framework agreements with FMP  and Minjiang University. These agreements prove our product AI-Space is widely popular and well recognized by the market. Looking ahead, we will select more qualified university sales agents to expand our product’s market layout across China at the earliest time possible to become partners with smart conferences providers, smart homes vendors, and high-end clubs in the future."

About China Liberal Education Holdings Limited

China Liberal, headquartered in Beijing, is an educational services provider in China. It provides a wide range of services, including those under Sino-foreign jointly managed academic programs; overseas study consulting services; technological consulting services for Chinese universities to improve their campus information and data management system and to optimize their teaching, operating and management environment, creating a "smart campus"; and tailored job readiness training to graduating students. For more information, visit the company’s website at ir.chinaliberal.com.

Forward-Looking Statements

This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

Investor Relations Contact

China Liberal Education Holdings Limited
Email: ir@chinaliberal.com 

Ascent Investor Relations LLC
Ms. Tina Xiao
Email: tina.xiao@ascent-ir.com 
Tel: +1 917 609 0333

PR Newswire

Xiaobai Maimai to Report Unaudited Financial Results for First Half of Fiscal Year 2021 on December 21, 2020

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BEIJING, Dec. 18, 2020 — Xiaobai Maimai Inc. (NASDAQ: HX), formerly known as Hexindai Inc., ("Xiaobai Maimai" or the "Company"), a social e-commerce platform in China, today announced that it will release its unaudited financial results for the six months ended September 30, 2020, on Monday, December 21, 2020, before the open of U.S. markets.

The Company will host a conference call to discuss the earnings at 8:00 a.m. Eastern Time on Monday, December 21, 2020 (9:00 p.m. Beijing/Hong Kong Time on the same day).

Dial-in numbers for the live conference call are as follows:

United States:

1-888-346-8982

Hong Kong:

852-301-84992

Mainland China:

4001-201203

International:

1-412-902-4272

Passcode:

Xiaobai Maimai

A telephone replay of the call will be available two hours after the conclusion of the conference call to December 28, 2020.

Dial-in numbers for the replay are as follows:

United States:

1-877-344-7529

International:

1-412-317-0088

Passcode:

10150609

A live and archived webcast of the conference call will be available on the Investor Relations section of Xiaobai Maimai’s website at http://ir.xiaobaimaimai.com.

About Xiaobai Maimai Inc.

Xiaobai Maimai Inc. (NASDAQ: HX), formerly known as Hexindai Inc., ("Xiaobai Maimai" or the "Company"), is a social e-commerce platform based in Beijing, China. The Company collaborates with domestic e-commerce platforms and offers users a wide selection of high-quality and affordable products on its social e-commerce platform. Leveraging its cooperation with mainstream e-commerce platforms and online service marketplaces, the Company continues to generate fast growth for the business by identifying and introducing cost-efficient products through its data analytics algorithm and operating system, and attracts users to its platform with excellent customer service.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: the Company’s goals, strategies and expansion plans; its future business development, financial condition and results of operations; its ability to attract and retain new users and to increase revenues generated from repeat users; its expectations regarding demand for and market acceptance of its products and services; its relationships and cooperation with e-commerce platforms and services marketplaces; trends and competition in China’s e-commerce market; the expected growth of the Chinese e-commerce market; Chinese governmental policies relating to the Company’s corporate structure and the e-commerce industry; and general economic conditions in China. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law.

For more information, please visit http://ir.xiaobaimaimai.com.

For investor inquiries, please contact:

Xiaobai Maimai
Investor Relations
Ms. Zenabo Ma
Email: ir@xiaobaimaimai.com

Christensen

In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
E-mail: Eyuan@christensenir.com

In US
Mr. Tip Fleming
Phone: +1-917-412-3333
Email: tfleming@Christensenir.com

Related Links :

https://ir.xiaobaimaimai.com/

PR Newswire

Pulse Secure (acquired by Ivanti) Lauded by Frost & Sullivan for Leading the Secure Remote Access Market with Its Pulse Access Suite

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The deep network visibility and Zero Trust secure access offered by Pulse Secure’s (acquired by Ivanti) solutions have established the company as a valuable security partner in the era of remote working

SINGAPORE, Dec. 18, 2020 — Based on its recent analysis of the Asia-Pacific secure remote access market, Frost & Sullivan recognizes Pulse Secure® (acquired by Ivanti) with the 2020 Asia-Pacific Secure Remote Access Company of the Year Award. Pulse Secure (acquired by Ivanti) demonstrated an impressive year-on-year growth of 29.2% in 2019, which was much higher than the industry average of 5.8%. This growth was mainly because of the healthy adoption of the company’s Pulse Access Suite and the continual innovation of its flagship network access control solution.

"Pulse Secure (acquired by Ivanti) enriched the VPN features that enable the Pulse Connect Secure solution to deliver smooth and blended access to public cloud services and data center applications. With the integration of its SSL VPN feature into the next-generation firewall, Pulse Secure (acquired by Ivanti) became one of the few vendors to offer a dedicated secure remote access solution," said Amy Lin, Industry Analyst - ICT Practice, Cyber Security & Digital Transformation.
"Pulse Secure (acquired by Ivanti) enriched the VPN features that enable the Pulse Connect Secure solution to deliver smooth and blended access to public cloud services and data center applications. With the integration of its SSL VPN feature into the next-generation firewall, Pulse Secure (acquired by Ivanti) became one of the few vendors to offer a dedicated secure remote access solution," said Amy Lin, Industry Analyst – ICT Practice, Cyber Security & Digital Transformation.

With distributed workforces becoming the norm, employees have been demanding greater mobility and flexibility in terms of remote access to applications. An increasing number of enterprises have embraced the bring-your-own-device (BYOD) trend, creating additional challenges for IT teams in terms of monitoring and managing access to enterprise networks and applications. Pulse Secure (acquired by Ivanti) addresses these concerns by offering granular access control through its Pulse Connect Secure solution. This tool was designed to help users identify the person accessing the network and present greater visibility into the type, location, and time of information retrieval.

"Pulse Secure (acquired by Ivanti) enriched the VPN features that enable the Pulse Connect Secure solution to deliver smooth and blended access to public cloud services and data center applications. With the integration of its SSL VPN feature into the next-generation firewall, Pulse Secure (acquired by Ivanti) became one of the few vendors to offer a dedicated secure remote access solution," said Amy Lin, Industry Analyst – ICT Practice, Cyber Security & Digital Transformation. "Furthermore, its continued efforts to fortify relationships with channel partners across the region resulted in clear growth momentum in emerging markets, including China, Southeast Asian countries, and India."

As a vendor positioned to provide easy and comprehensive, software-defined, and secure remote access solutions for people, devices, things, and services, Pulse Secure (acquired by Ivanti) helps ensure customer productivity remains optimal. The vendor provides hardware (Pulse PSA Series) and virtual appliance options (PSA-V Series) for customers, in addition to cost-effective SSL VPN solutions. The Pulse Connect Secure solution secures access from data center applications to the cloud; therefore, users can have the same experience from different environments and on different devices. The solution’s user-friendly clientless access enables customers to access enterprise networks from any web browser, without requiring software installation or device maintenance.

"Pulse Secure (aquired by Ivanti) has a strong business presence in Japan, China, India, Australia, South Korea, and Singapore and more than 20 million users, including numerous Fortune 500 organizations. It has established a strong foothold in the service providers; banking, financial services, and insurance; and government sectors," noted Lin. "Its winning combination of organic and inorganic growth strategies has positioned it ideally for continued growth in the secure remote access market."

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:

Kala Mani.S.
P: +607-560 3656
E: Kala.Manis@frost.com

About Ivanti

The Ivanti intelligent experience platform helps make every IT connection smarter and more secure across remote infrastructure, devices, and people through automation. From PCs and mobile devices to virtual desktop infrastructure and the data center, Ivanti discovers, manages, secures and services IT assets from cloud to edge in the everywhere enterprise — while delivering personalized employee experiences. In the everywhere enterprise, corporate data flows freely across devices and servers, empowering workers to be productive wherever and however they work. Ivanti is headquartered in Salt Lake City, Utah and has offices all over the world. For more information, visit www.ivanti.com and follow @GoIvanti.

Related Links :

https://ww2.frost.com/

http://www.frost.com

PR Newswire

ValueLabs wins IBSI Global Fintech Innovation Award

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HYDERABAD, India, Dec. 18, 2020 — ValueLabs, a global technology services provider, won the IBSI Global Fintech Innovation Award for the Best Original & Adoptable Concept in Compliance & RegTech. It was for the Enterprise Customer Due Diligence solution which they built for Diligent, a Singapore-based global RegTech company.

The IBSI Global FinTech Innovation Awards honors technology players and banks for their excellence in driving impact through banking technology implementations and innovations using emerging technologies. This year, IBSI winners were chosen on the basis of innovation excellence, best practices & tools adopted, originality & simplicity, adaptability of the concept and program complexity & governance.

The Enterprise Customer Diligence solution is a SaaS based application which enables banks and RegTech companies to onboard and maintain ongoing relationships with customers while complying with regulatory and policy requirements. The solution provides a 100% configurable rules engine that performs due diligence for clients across multiple topographies and jurisdictions.

"We are delighted to be recognized by IBSI for driving innovation in the BFS space and we are confident that this solution will help the industry to reimagine the ways in which customer onboarding and due diligence happen. Also wanted to congratulate our partners at Diligent on this award and thank them for allowing us to be a part of their journey," said Arjun Rao, CEO of ValueLabs.

"In this digital era of banking, it is essential for banks and FIs to take necessary measures to comply with ever changing industry regulations and compliance requirements. This solution automates every process of KYC and CDD and enables digital compliance vision for our clients," said Anoop Singh, SVP & Head of Emerging Markets, Valuelabs, who accepted the award. "We are also planning to significantly expand our global presence in BFS in 2021 and this recognition inspires us to deliver more innovative solutions for the BFS & RegTech industry."

About ValueLabs

ValueLabs is a global technology company focused on Product Development, Data Technology and Digital services. Powered by The Digital Flywheel™, ValueLabs provides end-to-end solutions in the fields of Customer Experience, Data & Analytics, Product Development, and Automation. Over the last 23 years, the company has expanded to 32 locations, 5500 associates and 150 clients worldwide. Their focus on employees and clients have resulted in industry-leading client Net Promoter Scores (NPS) of over 60 and 80 respectively.

Media Contact:
Anoop Singh Sengar
anoop.singh@valuelabs.com  
www.valuelabs.com/business-form/

Related Links :

http://www.valuelabs.com/

PR Newswire

Pintec enables China Mobile’s subsidiary Aspire Holdings with intelligent fintech solutions

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BEIJING, Dec. 18, 2020 — Pintec Technology Holdings Ltd. ("Pintec"; NASDAQ: PT), a leading independent fintech solutions provider, announced today that it has cooperated with China Mobile Communications Corp. ("CMCC")’s subsidiary Aspire Holdings Ltd. to jointly develop advanced fintech solutions, leveraging Pintec’s big data analytics and AI technology capabilities.

Aspire Holdings Ltd is one of the earliest pioneers to launch mobile data services and has been actively facilitating CMCC in exploring and expanding businesses in the areas such as IT, ICT and the Internet. The company has been actively exploring big data and AI technologies in business applications in recent years.

Pintec has a wealth of experiences in cross-scenario fintech solutions and has supported various AI-enabled business applications to date. Pintec’s technological capabilities include big data product design, credit risk modeling, operation and risk management, as well as system development and implementation which perfectly suit Aspire’s needs and complement our leading ICT capabilities in this area, said Aspire.

Dr. Victor Huike Li, chief executive officer of Pintec, commented: "Pintec is one of the earliest fintechs to have built a long and prosperous cooperation with all of the major telcos in China – including China Mobile, China Telecom and China Unicom. We have accumulated in-depth experience in enabling our partners with end-to-end digital financial services, and are well positioned to enable Aspire with its transformation towards integrating financial services into its businesses and drive digital growth in the 5G era. By joining hands with Aspire, we also hope to explore more business opportunities to ride the wave of digital revolution."

Pintec offers its partners a full suite of customized solutions by leveraging its scalable and reliable technology infrastructure such as big data analytics, artificial intelligence and process automation. The solutions and services provided range from digital retail lending, digital business lending, robotic process automation, to wealth management and insurance products.

PR Newswire

Korea Institute For Robot Industry Advancement Foundation (KIRIA) Participates in the Online Exhibition of ‘SPS Connect 2020’ in Europe

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DAEGU, South Korea and NUREMBERG, Germany, Dec. 18, 2020 — ‘SPS IPC Drives 2019’, which is Europe’s largest exhibition specializing in automation components, is held every year in Nuremberg, Germany. This year, it was held online for three weeks from November 16th to December 4th under the name ‘SPS Connect 2020’ due to the influence of the global COVID-19 pandemic.

Korea Institute For Robot Industry Advancement Foundation (KIRIA) participated with five companies, SEINFLEX, ERAE-TECH, Global ZEUS, BONSYSTEMS, HIGEN MOTOR, to represent Korea in robot parts and finished products such as servomotor, reducer, and teach pendant. Through online business matching, a total of more than 20 consultations with genuine buyers were achieved, resulting in a consultation amount of about 1.6 million euros (approximately 2 billion won).

Although "SPS Connect 2020" was an online exhibition, 1,650 companies from around the world participated and more than 70,000 local buyers visited the exhibition. Among the participants were Europe’s largest automation and parts companies such as Siemens, Beckhoff Automation, Bosch Rexroth, and Leader Drives.

Jeon-il Moon, head of KIRIA, held the online exhibition and expressed his willingness to continuously support the export activities of the robotics companies despite the rapid shift toward the online business activities due to the coronavirus pandemic. At the same time, he also emphasized that he would continue to support robot companies’ entry into the European market and the promotion of 5G projects, which was conducted with the German Electrical and Electronic Manufacturers’ Association (ZVEI) and its affiliated organization 5G-ACIA at ‘SPS IPC Drives 2019’. He said, "Despite the technological competitiveness, domestic robot parts and finished products are still facing difficulty to secure references required for export activities," and added that he will "actively support the export of domestic parts by assisting demonstration of domestic robot parts in Korea and participating in both online and offline specialized exhibitions overseas."

https://kiria.org/eng/

Related Links :

https://kiria.org/eng/

PR Newswire

Chindata Group breaks ground for its first high-end equipment manufacturing industrial base

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BEIJING, Dec. 18, 2020 — Chindata Group has broken ground for the construction of its first high-end equipment manufacturing industrial base in Hebei Province, China, which will cover the research & development, design and manufacturing of prefabricated modules, flexible intelligent manufacturing, data center modules, equipment modules and professional products. 

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Mr Alex Ju, Founder and CEO of Chindata Group said high-end equipment manufacturing is a strategic industry fundamental to the digital age and will propel the iterative product upgrade in the hyperscale data center campuses.

Speaking at the groundbreaking ceremony held in Zhangjiakou, Mr Ju shared that Chindata Group will continue to leverage on the advantage of its business model and master the core technologies in key areas that will improve its innovation capabilities and drive the long-term development of the industry. He believed that Chindata Group will strive to advance equipment manufacturing together with the industrial partners for a better and shared digital society.

As of today, Chindata Group owns nearly 200 pending and approved patents. With the concept of ‘Open For The General Welfare’, Chindata Group would like to work together with all the partners to develop key advanced technologies, core components and fundamental materials.

Related Links :

https://www.investor.chindatagroup.com/

PR Newswire

ResellerClub Re-Establishes its Presence in Indonesia with Improved Localized Experience

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JAKARTA, Indonesia, Dec. 18, 2020 — ResellerClub, an Endurance International Group company and a provider of web hosting, domains and other web presence products, has revamped its website experience in the Indonesia market. While the brand has been in this market for many years, they bring a fresh, improved web experience. The brand has achieved this through localized websites, local payment gateways, translated control panels, revamped messaging, reduced page load times, localized support, promo and coupon systems for competitive offers and more. With a remarkable impact over 14 years in India, the United States, and other countries, ResellerClub hopes to do the same in Indonesia.

"Indonesia is an entrepreneurial society and an increasing number of small & micro businesses are getting rapidly digitized during this time. We want to support this thriving ecosystem by extending our world-class infrastructure and support through an advanced experience to web professionals (developers, IT agencies) and small businesses. We now offer a simple, easy to buy option for hosting solutions in a fully localized website with highly qualified chat support," says Manish Dalal, Managing Director – APAC, Endurance International Group.

ResellerClub offers a complete suite of server and cloud-based products in local language and currency to help businesses find the right hosting solution suited to different needs. Specific product highlights include:

Locally Relevant Payment Modes- While credit cards are one of the primary modes of online payment in a lot of developed countries, there is a dominance of alternate payment options in the APAC region. ResellerClub is now offering payment methods such as local bank transfers, wallets and convenience store top-ups to customers in Indonesia to make the purchase more convenient.

Advanced Hosting Infrastructure –  ResellerClub boasts of an extensive product portfolio with hosting solutions ranging across Shared Hosting , Reseller Hosting, Virtual Private Servers and  Dedicated Servers.  The brand has been progressively investing and improving its hosting range with the newly introduced SSD variants for Cloud, Virtual Private Servers (VPS), Dedicated Servers and  Reseller Hosting. ResellerClub has also recently launched additional storage on it’s VPS product and is working on adding ‘Managed Services’ to it’s offering in early 2021. ResellerClub’s hosting comes with free WHMCS, free SSL and free migration amongst many other robust features.

Productivity Solutions – The brand also offers multiple email and security solutions including G Suite for which it was recently awarded the ‘Expansion Partner Award APAC’ by Google.

Developer Friendly Order Management Panel – ResellerClub is also set to offer the ‘All-New WebPro Panel’ to it’s clients in Indonesia. This new Control Panel is specially built for web professionals (web designers, developers, digital marketing agencies, etc) after years of product research and conversations with multiple clients. The panel provides an easy purchase flow, along with tools for invoicing, taxation, order & client management and a fully white-labelled, easily brandable Storefront.

About ResellerClub

ResellerClub was founded with the objective of offering domain names and hosting products to web designers, developers and web hosts. Today, ResellerClub offers products and services that a web professional can use to enable small businesses to build a meaningful web presence. ResellerClub offers Reseller Hosting, Shared Hosting, Cloud Hosting, Dedicated Servers, VPS, email, backup, security and more with multi-brand options in many of these categories to empower choice. ResellerClub also offers a comprehensive solution to register and manage 350+ gTLDs, ccTLDs and new domains. Through the platform customized for web professionals, ResellerClub envisions provisioning the widest variety of web presence products, PaaS and SaaS-based tools.

About Endurance International Group

Endurance International Group Holdings, Inc. helps millions of small businesses worldwide with products and technology to enhance their online web presence, email marketing, business solutions, and more. The Endurance family of brands includes Constant Contact, Bluehost, HostGator, and Domain.com, among others. Headquartered in Burlington, Massachusetts, Endurance employs over 3,800 people across the United States, Brazil, India and the Netherlands. For more information, visit www.endurance.com.

PR Newswire

Consortium Including Tencent Music Entertainment Group Exercises Call Option to Acquire Additional Equity Interests in Universal Music Group

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SHENZHEN, China, Dec. 18, 2020 — Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE: TME), the leading innovative online music entertainment platform in China, today announced that a consortium (the "Consortium"), which is led by Tencent Holdings Limited (00700.HK) and comprising the Company (through one of its wholly-owned subsidiaries) and other co-investors, exercised its call option to acquire an additional 10% equity interest (the "Transaction") in Universal Music Group ("UMG") from its parent company, Vivendi SE (VIV.PA) ("Vivendi"), at the same enterprise value of EUR30 billion for 100% of UMG’s share capital as in the initial acquisition that closed in March 2020.

The Transaction is expected to close in the first half of 2021, subject to regulatory approvals. Upon the closing of the Transaction, the Consortium’s equity ownership in UMG will increase to 20% and TME will continue to have a 10% equity interest in the Consortium. The Transaction reinforces TME’s commitment to strengthening its strategic partnership with UMG. TME looks forward to an ongoing and deeper collaboration with UMG as both companies work together to bring unparalleled service and product offerings to artists and fans in China’s booming music entertainment market.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME) is the leading online music entertainment platform in China, operating the country’s highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. Tencent Music’s mission is to use technology to elevate the role of music in people’s lives by enabling them to create, enjoy, share and interact with music. Tencent Music’s platform comprises online music, online karaoke and music-centric live streaming services, enabling music fans to discover, listen, sing, watch, perform and socialize around music. For more information, please visit ir.tencentmusic.com.

About Universal Music Group

Universal Music Group (UMG) is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content in more than 60 countries. Featuring the most comprehensive catalog of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. Universal Music Group is a Vivendi company.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

Tencent Music Entertainment Group
ir@tencentmusic.com
+86 (755) 8601-3388 ext. 883606

Related Links :

http://ir.tencentmusic.com

PR Newswire

Collaborative Drug Discovery selected by Curve Therapeutics to digitalize its drug discovery platform

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Innovative end-to-end scientific research to be managed in CDD Vault

SAN FRANCISCO, Dec. 18, 2020 — Collaborative Drug Discovery (CDD) has today announced that its CDD Vault platform will be implemented by Curve Therapeutics Ltd. (Southampton, UK) to manage its genetically-encoded Microcycle platform and the functional hits and leads generated from it. Curve is an innovative drug discovery company that has developed a screening platform that directly identifies functional modulators of disease targets in their native cellular environment.

CDD Vault is a ubiquitous, hosted platform used by research teams at pharma, academia, and biotechs to store, mine and manage chemical, biological, and image data from the discovery process. It allows the secure and seamless sharing of data with external partners in real-time thus facilitating true collaborative discoveries.

"It is important that all of our data is easily captured, mined and analyzed and CDD Vault has been straightforward to implement and use. The system will allow us to securely share data with collaborators and investors alike," said Prof. Ali Tavassoli, Curve’s Founder and Chief Scientific Officer.

"We are delighted to see Curve Therapeutics growing as a company and increasing its pipeline of first-in-class cancer therapeutics. The small molecule leads being generated by Curve give a new hope to finding treatments for challenging diseases," said Dr. Barry Bunin, CEO of CDD. "We are proud to be able to support Curve Therapeutics in their drug discovery process. Curve has a great combination of technology and human capital that maximizes the potential of success of finding new cures for cancer and other diseases."

About Collaborative Drug Discovery

CDD’s (www.collaborativedrug.com) flagship product, "CDD Vault®", is used to manage chemical registration, structure-activity relationships (SAR), and securely scale collaborations. CDD Vault® is a hosted database solution for secure management and sharing of biological and chemical data. It lets you intuitively organize chemical structures and biological study data, and collaborate with internal or external partners through an easy to use web interface. Available modules within CDD Vault include Activity & Registration, Visualization, Inventory, and ELN.

About Curve Therapeutics

Curve’s goal is to transform the discovery of new therapeutics through direct functional screening against targets in their native cellular environment. The company, a spin-out from the laboratory of Professor Ali Tavassoli, is built on over a decade of academic excellence at the University of Southampton.

The Tavassoli group has pioneered the use of diverse, genetically-encoded Microcycle libraries in cell-based functional screens and has succeeded in identifying inhibitors of multiple protein-protein interactions. Curve is optimising these technologies and deploying them to build a pipeline of first-in-class cancer therapeutics

More information:  https://www.curvetx.com/

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http://www.collaborativedrug.com