Yearly Archives: 2020

PR Newswire

National Business Daily: SW China’s Chengdu to release opportunities in smart city governance with upcoming event

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CHENGDU, China, Dec. 25, 2020 — Chengdu will hold an event on smart city governance on December 29. Themed on "Releasing the Value of Data, Empowering Smart Governance", the event is the last installment of the 2020 Chengdu New Economy Double Thousand Project.

Smart urban transportation Photo/Shetuwang
Smart urban transportation Photo/Shetuwang

Experts, investment institutions, and representatives from renowned enterprises will gather in the capital city of Sichuan Province, both at the venue and via online channel, and conduct in-depth discussion on how data empowers the city governance, and trends and opportunities in smart city governance.

At the event, a list of opportunities in Chengdu’s efforts to build a smart city will be unveiled. The list aims to facilitate precise matching of smart city service providers to customers.

Besides, the online municipal service office of Chengdu will publish a list of cases that exemplify the business environment of Chengdu.

Companies will showcase their new products and new scenes in smart governance of megacities at the venue. These include the smart city services from tech giant Huawei, shared parking platform from Chengdu Communications Investment, and public data service platform from Chengdu Bigdata. Leading technologies like 5G and 4K/8K display will be used in these demonstrations.

In recent years, Chengdu has seen remarkable achievements in exploring new approaches to and innovative mechanisms of modern city governance, which include top-down policy design, improving "city brain", and the sharing of public data. The building of a smart city has promoted development of various industries in the city.

The event is hosted by the online municipal service office of Chengdu, Chengdu New Economy Development Commission, and the People’s Government of JingNiu District, Chengdu.

PR Newswire

Terminus Group: AI CITY reshapes life when productivity returns

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BEIJING, Dec. 25, 2020 — How will the future city look like? It’s not that hard to give an accurate answer to that question if you are familiar with the latest research in the field of urban digitalization. Yet it’s still not easy to pinpoint every aspect contributing to the successful digital transformation.

"A city is like an organism. The functions of the individuals who create sustainable economic value are the key factors when deciding on how a city should operate. AI CITY is a bold attempt to interconnect every part of the city’s ‘body’ through the means of the digitalization – enable seamless digit transmission, and build up an organic living entity for the residents to maximize their productivity as well as their living experience," said Victor Ai, founder and CEO of Terminus Group, at the urban tech forum held by Terminus Group in southwest China’s Chongqing city.

Terminus’ AI CITY, the world’s first urban digitization pilot project, is currently being under construction in Chongqing. Launched in April this year, the campus-style project follows its mission to create an area maximizing residents’ effectiveness through the digital interconnection and data utilization. Aiming to utilize AI CITY’s digital ecosystem, Terminus Group partnered with over 40 tech companies from China and aboard on this forum to bring the most leading-edge innovations and digital technologies to the region. The tech alliance includes digit system providers, AI labs, producers of consumer goods, live-streaming platforms and manufacturers of tech devices.

"The era of the AI CITY is coming. The grain of the city is becoming smaller and smaller, and the individual functions become intertwined. Multiple activities can occur in all kinds of spaces because of digital technology, therefore becoming merged physically and digitally. We need to find a way of designing cities which will maximize the effectiveness for people, rather than necessarily large organizations alone, as they were in the past," said Dennis Frenchman, professor of Urban Design and Planning at Massachusetts Institute of Technology, and senior partner at Tekuma Frenchman urban design studio. Tekuma Frenchman is an incubator for future city innovation using design thinking to empower people to solve complex challenges for cities and improve the quality of life. Through cutting-edge research emerging from MIT, it aims to reshape 21st century cities where innovation and the digital economy thrives.

According to Frenchman, 20th-century cities were planned in a way enabling the segmentation of spaces depending on their functional purposes. Every space and every building were designed with economic thought in mind. However, the purpose that today’s cities serve far exceed just social gatherings. Public spaces, with the mixed function areas, now have the potential to unleash people’s productivity because of digital technologies.

The world’s first AI CITY pilot project in Chongqing is now becoming a witness of this great transformation. The AI CITY features an unprecedented urban digital environment, including the application of "OTA" in the city for the first time. "OTA", stating for "Over-The-Air Technology", enabling the city to evolve or upgrade naturally on its own. The software of Terminus’ AI CITY, leveraged by the OTA solutions, will now be able to answer the users’ personalized requests flexibly and instantly, offering tailor-made, complete systematic solutions.

Digital technologies nowadays allow us to have a much finer grained orientation and use of time, which affects the rapid changes in production, knowledge accumulation, and nature protection. Everything has changed including the way we produce objects and complex mechanized machines, and other things we do in order to live. In a nutshell, what has happened is that all production became ultimately disaggregated down to the level of the individual.

"The production is returning to cities. In fact, it already returned – there are estimates that 30% of all production occurs in the home," Frenchman summarized at the forum, adding that as knowledge and information multiply at a crazy speed, and our abilities to interact with it, and the channels and ways we have to "interact with this knowledge" are also multiplying. The trend is that for all these information exchange to be happening through the physical environment – the city. The AI CITY therefore will meet the demand of turning the physical environment into a digital one.

"On a day-to-day basis, we don’t have to be tied into these devices anymore. The AI devices will surround us. In the walls, in the furniture and objects that we use, the walls can actually ‘speak’," said Frenchman.

PR Newswire

JA Solar Signs Distribution Agreement with India’s Leading Distributor, Redington

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BEIJING, Dec. 25, 2020 — JA Solar, a leading manufacturer of high-performance solar products, and Redington, one of the leading distributors of PV products in India, today announced that they entered into a distribution agreement to further strengthen their cooperation to promote the development of rooftop PV projects in India.

India is one of the world’s largest PV markets, and the rooftop PV market in the country has also been growing rapidly in recent years. Small- and medium-sized rooftop projects have short construction periods and require timely supply of solar modules. To better serve its customers, Redington has set up more than 90 warehouses across India to quickly deliver products and services to local customers, bridging the "last mile" between the advanced PV products and those customers. With the cooperation agreement signed, the JA Solar modules will reach the customers’ project sites in a more timely manner through Redington’s broad distribution channels. This in turn enables customers to keep their projects on schedule, to ensure service quality, and effectively helps promote the development of the local rooftop PV market.

JA Solar entered the Indian market in 2015. Since then, the company has been highly recognized by the local market and favored by local distributors with its excellent product quality, strong financial position and solid industry reputation. Distributors play an important role in JA Solar’s sales and distribution process. Through close cooperation with local distributors, the company will further deepen localized operation and provide high-quality products and services to the Indian customers.

For more information contact:
Oriana Zhang
+86-10-6361888-1697
zhangbobo@jasolar.com 

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PR Newswire

Wonderful Online CSCTE 2020 Showcases New Achievements in Sports Culture and Sports Tourism Industry

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GUANGZHOU, China, Dec. 25, 2020 — Sports folk cultural performances, a range of advanced sports science and technology achievements, well-known sports brands, etc. are available at the online CSCTE 2020.

The China Sports Culture Expo is hosted by the General Administration of Sport of China and the Chinese Olympic Committee. The China Sports Tourism Expo is hosted by the All-China Sports Federation, the Chinese Olympic Committee and China Tourism Association. The CSCTE is organized by the Guangzhou Municipal People’s Government, the Sports Culture Development Center of General Administration of Sports of China, International Data Group (IDG), and Aiqi Sports Co., Ltd.

The China Sports Culture Expo and China Sports Tourism Expo 2020 (hereinafter referred to as the "CSCTE 2020") officially kicked off on December 21. This year’s CSCTE are held online for the first time. With the theme of Healthy China, Powered by Sports, CSCTE showcases the sports culture with distinctive charms, abundant sports tourism resources and the fruitful achievements in the sports industry in the forms of "cloud display", "cloud visit", "cloud forum" and "cloud matchmaking".

The COVID-19, though separating us physically, does not dampen our enthusiasm for sports culture. This "cloud display" attracted over 400 world-class companies and organizations from France, Australia, Slovenia, United States, Thailand, Austria, Germany, Netherlands, Argentina, Nepal, Uruguay, United Kingdom, etc. Viewed through 2.5D booth, 3D booth, video, etc., CSCTE set up many exhibition zones including sports culture theme zone, international exhibition zone, domestic and foreign sports culture innovation and creativity zone, sports brands zone, domestic sports culture zone, sports technology and comprehensive health & outdoor exhibition zone, innovative sports products and application corridor, large-scale stadiums, etc.

The sports culture theme zone, which is organized, planned and implemented by the Sports Culture Development Center of the General Administration of Sport of China, aims to spread sports culture, promote sports spirit, and convey the power of sports. It has been the main exhibition zone at CSCTE over the years. As the image ambassadors of CSCTE, Chang Hao, World Champion of Weiqi and Vice President of Chinese Weiqi Association, and Wei Hong, World Champion of Martial Arts, appear at the exhibition online. At the same time, the Sports Culture Development Center has selected and exhibited over 100 paintings and works of calligraphy produced by sports people and those from all walks of life across the country as the cultural appeal for the online visitors.

International and sports culture innovation and creativity zone attracted the foreign institutions and cultural exchange associations in China from France, United Kingdom, Germany, Austria, Argentina, Nepal, Slovenia, United States, Australia and other countries, as well as many international sports federations. The Argentine booth displays the management software, methods, and e-learning platform of Argentine AFA FTI to showcase the new technical ideas of an established football powerhouse. At the German booth, exhibits are put on by the brands such as FC Schalke 04 and BVB, European leading yoga brand YogaEasy, and the well-known ALBA BERLIN Basketball team, etc. At the luxurious and trendy French booth, a visual feast is presented by such French brands as well-known resort brand Club Med, top sports service organization MyComm, well-known arena construction company ABEST, sports and celebration event company ECA2, and sports goods retailer Decathlon. Wonderful creative ideas on sports are also shared by Nepalese enterprises such as sports-related tour guide company Drift, mountain bike company Himalayan, the world’s second Bungee Jumping company The Cliff, cross-country race MILALEI; British enterprises such as the world-leading engineering company Atkins and football training academy ICFDS; Austrian companies such as the ice and snow company AST; Slovenian exhibitors such as Elan Snowboard; American companies such as Harley, DISTA, and Guam Visitors Bureau; and Australian tourism service company GM Tours.

The domestic sports culture exhibition zone showcases the featured sports culture and tourism programs in China. Sports bureaus from nearly 30 provinces, autonomous regions, and municipalities such as Beijing, Tianjin, Hebei, Shanxi, Inner Mongolia, Liaoning, Jilin, Heilongjiang, Shanghai, and Jiangsu showcase rich development results and distinctive sports culture and sports tourism resources.

Chinese and foreign high-end sports goods brands, sports service brands, and well-known sports event brands are displayed at the sports brands zone. SNOW MONKEY, a well-known manufacturer of ice and snow facilities and devices, displays dry ski module, smart material armor, design of terrain park, ski gear, and ski simulators. As a leader in the Asia-Pacific market, Airgoal, a football equipment brand, exhibits the latest type of football training equipment. TONGXIN, a national sports demonstration agency, showcases the professional track equivalent to that of the Beijing National Stadium. ACT displays a mixed-planting patchwork turf system, retractable stands and smart floors suitable for multi-function stadium and post-game operations, which can bring vitality to the stadium, and are an important part of modern smart stadiums. Thanks to "cloud display" technology, the visitors can view the key products of well-known sports brands comprehensively at close range without the constraints of time or space.

The sensational, awesome and eye-catching CSCTE sets up exhibition zones of their own features. The exhibitions showcase the current status of sports culture and sports tourism at home and abroad, as well as the development trend of the sports industry. By building the international, professional, market-oriented and high-end sports culture and sports industry display and trading platform, CSCTE will foster international exchanges and cooperation in the industry, promote industry reform and innovation, and contribute to the progress of the industry. CSCTE has become a globally influential high-end event in China’s sports sector. It is reported that the CSCTE 2020 will continue until December 23. You can visit the website (http://yun.cectexpo.com/) for the exhibition via computer and mobile phones.

 

PR Newswire

Farallon requests Toshiba Corporation Convene an EGM to Explain and Seek Shareholder Approval Regarding Significant Changes to the Toshiba Next Plan Relating to a New One Trillion Yen Growth Investing Strategy

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SAN FRANCISCO, Dec. 25, 2020 — Today, an affiliate of Farallon Capital Management, L.L.C. ("Farallon") requested Toshiba Corporation ("Toshiba" or the "Company")(6502.T) convene an extraordinary general meeting of shareholders ("EGM") to seek shareholder approval regarding significant changes to the Toshiba Next Plan ("TNP") relating to a new one trillion yen growth investing plan.

Farallon has continued constructive discussions with Toshiba as a major shareholder since 2017, including recommending the appointment of Mr. Raymond Zage, who previously served as CEO and Managing Director of Farallon Capital Asia, to the Toshiba Board of Directors.  Mr. Zage was appointed as a director of Toshiba at the Annual General Meeting held in June 2019.

Farallon commends Toshiba for successfully reinforcing its internal controls, improving its financial condition, reviewing its business portfolio, and improving its profitability through structural reforms.  As set forth in the TNP under the leadership of CEO Nobuaki Kurumatani, these initiatives were implemented with the purpose of "maximizing enterprise value as an infrastructure services company."

Farallon is, however, deeply concerned that on November 11, 2020, Toshiba suddenly announced a growth strategy that was materially different from that described in the TNP.  Specifically, Toshiba announced that funds amounting to approximately one trillion yen will be used for large-scale M&A, without providing any reasonable explanation as to why such a strategy change was warranted or how it would increase corporate value.  This shift was in marked contrast to the growth strategy committed to and announced in the TNP that focused on a disciplined capital policy and targeted growth through organic expansion and small-scale, programmatic M&A (instead of large-scale M&A).

The current directors of Toshiba are appointed on the basis of a public commitment to the TNP and a significant change to the TNP not approved by shareholders is wholly inappropriate and a rebuke of the trust shareholders have placed in management and the Board to implement the TNP. Shareholders have reason for concern.  Toshiba has recorded a total of approximately 1.8 trillion yen of impairment losses in the past 20 years resulting from heedless growth investments through large-scale M&A, which have led to a reduction of shareholder capital and a crisis of solvency.  Shareholders have already expressed views around the Company’s capital policy.  At the Company’s Annual General Meeting in July 2020, a proposal to amend Toshiba’s Articles of Incorporation to enable a general meeting of shareholders to resolve matters concerning Toshiba’s capital policy was adopted with near unanimous affirmative votes (97.74%).  This result strongly indicates that the shareholders of Toshiba believe that significant changes to the TNP around Toshiba’s capital policy should not be made by management without shareholder input, but instead should be determined through a general meeting of shareholders.

Accordingly, Farallon has concluded that since Toshiba has significantly changed the TNP without any reasonable explanation to its shareholders (and has not even offered clear criteria or a policy for how it proposes to evaluate such large-scale M&A), it is imperative that Toshiba’s Board fully articulate its intentions, explain its new growth strategy and seek shareholder feedback on those plans.  Until shareholders approve a revision to the TNP, Toshiba should continue with the promises it made and pursue a disciplined capital policy focusing on organic growth and programmatic M&A.

Farallon has always sought to have a constructive dialogue with Toshiba, with an aim to improve mid to long-term enterprise value, and will continue to seek to do so.

About Farallon

Farallon Capital Management, L.L.C., is a global investment firm founded in 1986 and registered as an investment advisor with the United States Securities and Exchange Commission since 1990.  Farallon seeks investments across asset classes and around the world through a process of bottom-up fundamental research and analysis emphasizing capital preservation.  More information on Farallon is available at www.faralloncapital.com.

Disclaimer

Information contained herein is based on public information. Chinook Holdings Ltd., Farallon Capital Management, L.L.C. and their affiliates and representatives (collectively, "Farallon") do not guarantee its accuracy, completeness, adequacy or exhaustiveness.  This press release represents the views, estimates and opinions of Farallon only, which may change.  It should not be relied upon for any purpose and should not be construed as investment, financial, legal, tax or other advice.  Nothing in this press release should be construed as an offer, invitation, marketing of services or products, advertisement, inducement or representation of any kind, nor as investment advice or a recommendation to buy or sell any investment products or make any type of investment in securities.  

This press release should not be construed as soliciting any other Toshiba shareholder to authorize Farallon or any third party to exercise voting rights on such shareholder’s behalf with respect to any matter proposed to be presented to shareholders as indicated in the Request for Convocation of Extraordinary Meeting of Shareholders. This press release is not intended and should not be considered to solicit, encourage, induce or seek for Toshiba shareholders to authorize Farallon or any other third party as their proxy in exercising their voting rights on their behalf.

Farallon is not soliciting or requesting other shareholders of Toshiba to jointly exercise their shareholders’ rights with Farallon (including, but not limited to, voting rights). Farallon declares that it does not intend to be treated or deemed a "joint holder" (kyo-do hoyu-sha) with other Toshiba shareholders under the Japanese Financial Instruments and Exchange Act.

Media Contacts

Steve Bruce / Taylor Ingraham

ASC Advisors

sbruce@ascadvisors.com / tingraham@ascadvisors.com

+1 203 992 1230

PR Newswire

Online Orders on Yiwugo Doubled, over 80% of Which were Placed by Cellphone Users

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YIWU, China, Dec. 25, 2020 — Yiwugo.com is the official website of the Yiwu Commodity Market, which is the largest commodity wholesale market in the world. According to the back-office statistics about transactions on Yiwugo, as of the end of December, the total number of online orders in 2020 had grown by 100% YoY as compared with 2019, more than 80% of which were placed by cellphone users; the SKU indicator had increased from 3 million in the beginning of the year to 5 million; the number of registered buyers had exceeded 6 million.

The increase in orders on Yiwugo is mainly attributed to the following reasons:

I. As the circulation chain of commodities shortened, small retailers had an increasing stock demand

Along with the development of information technology and the logistics industry, the circulation chain of commodities has been shortening and the efficiency of commodity circulation has been increasing. As a result, the original multi-layered wholesale system is shifting to the mode of direct supply to retailers in small batches. In response to the development trend of the wholesale market, Yiwugo has also actively adjusted and constantly improved its services to address the stock demand of small retailers, such as launching the live streaming function for suppliers to introduce their products to retailers, improving payment and logistic services, and stepping up efforts to publicizing the stocking demand of small retailers. All these measures have contributed to the significant increase in small retailing orders on Yiwugo, hence a notable growth in orders on the platform as a whole.

II. The continuous development of the global mobile internet has promoted the increase in orders placed by cellphone users

2011 to 2020 is a golden decade for the development of the mobile internet. Through 10 years’ development, the mobile internet has been gradually popularized, making online transactions undoubtedly easier and faster. According to statistics, the global downloads of the Yiwugo app exceeded 30 million, and more than 80% of the orders on Yiwugo came from cellphone users. These orders have promoted the growth of total orders.

III. The impact of the COVID-19 pandemic drove up online orders

In recent years, the e-commerce supply chain in Yiwu has been developing at a high speed, and Yiwu has become the world’s largest online commodity supply base for daily necessities and also taken the lead in cross-border e-commerce. Many vendors in Yiwu are adopting the mode online-offline integrated development. In the context of the COVID-19 pandemic, such a mode has enhanced the resistance of the small commodity supply chain against risks brought by the pandemic. As the online version of the Yiwu market, Yiwugo has served as a strong supplement to the physical market and gained favor among even more buyers around the world.

PR Newswire

Flipclutch Research: AR/VR social networking may become mainstream in 2030, WIMI leads the new social networking of 5G holographic communication

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HONG KONG, Dec. 24, 2020 — Flipclutch Research, a market research organization in Hong Kong, recently released a research report on ‘AR/VR social networking may become mainstream in 2030, WIMI leads the new social networking of 5G holographic communication’. With the future development direction of the holographic image in science fiction films, in the future, human beings are likely to completely abandon display products with screens such as TVs, computers, and mobile phones. Instead, just like in current science fiction films, huge multi-page charts or photos on the display screen are directly presented in front of their eyes, without touching the screen, the content on the screen is naturally switched, and even people of different time and space can talk face to face.

In a research report released earlier, in the future, we may be able to work and socialize in a completely virtualized space. Moreover, sensory experiences such as touch, taste, smell, as well as cold and hot sensations, can all be transmitted digitally in this space.

Most interviewees believe that working and socializing in a completely virtualized field will become a common way of life. Using technologies such as 5G, AR, and VR, companies can create a completely immersive office experience and allow the digital delivery of vision, hearing, taste, smell, and touch.

It is said that some of the 5G application scenarios include: in the automotive field, it can be used to support AR HUD; in the entertainment field, it can be used for VR movies, 3D model display, VR in-car entertainment, and 4K 360° cameras; in the field of games and AR/VR, it can be used for AR maps, AR/VR education, VR cloud games, and multiplayer AR games; in shopping and immersive social fields, it can be used for VR+ somatosensory feedback shopping experience and 3D holographic calls.

Consumers around the world expect that virtual reality (VR) and augmented reality (AR) will be combined with reality, and the upcoming 5G technology will help make this experience mainstream.

The massive amount of data required to provide actual content is often unable to keep up with the movement of our head and eyes, which will cause delays, and then make it impossible to achieve an immersive AR/VR experience. Currently, for online games, there will be a lag time of 50 milliseconds from the movement of the mouse to the corresponding action on the screen. On the other hand, if AR/VR is to be truly immersive, the lag time needs to be controlled within 15 to 7 milliseconds.

If you want to solve the latency problem, you will need a faster processor. Therefore, for AR/VR network sharing, the solution to delay lies in the development of ultra-high-speed communication technologies, such as 5G, and the development of various antennas. By achieving extremely high data rate wireless transmission, 5G will play a key role in reducing latency to as low as two milliseconds.

With the emergence of potential applications such as medical imaging, video conferencing, and gaming, the data required for 3D holographic communication is approximately four times that of streaming 4K videos. This means that only the speed and low latency provided by 5G technology can support such applications on mobile networks.

Affected by COVID-19, this year a number of exhibitions were launched for the first time in the form of a "cloud exhibition", which included reality holographic projection and real-time 3D cloud guest experience. It is worth noting that in the World Artificial Intelligence Conference under the epidemic, Internet giants also have different forms of participation.

A series of new artificial intelligence technologies were used at the conference. The most eye-catching one was the holographic projection technology used at the conference for the first time. It made guests from all over the world seem to be on the scene. Meanwhile, this also solved the problem that some guests could not rush to the conference site due to the epidemic and other reasons.

As a leading company in the field of holographic vision, WIMI focuses on computer vision holographic cloud services. Its business covers multiple links of the Hologram AR technology, including Hologram computer visual AI synthesis, Hologram visual presentation, Hologram interactive software development, as well as Hologram AR online and offline advertising. WIMI’s commercial application scenarios are mainly concentrated in five professional fields, including home entertainment, light field theater, performing arts system, commercial publishing system, and advertising display system.

WIMI services will be deeply integrated with 5G. With the cooperation of 5G’s high speed and low latency, the average transmission delay of remote communication and data transmission from the system terminal to the service server is about 6ms, which is much lower than the 4G network transmission delay. It guarantees the Hologram AR’s long-distance communication and data transmission without stuttering and low delay. Moreover, it also assures the richness and diversity of multi-terminal remote coordination, and time interaction, which makes the collaboration of end + cloud collaboration more efficient. Enhanced mobile broadband (eMBB) and Internet of Things (IoT) applications will enable WIMI’s Hologram AR advertising business and Hologram AR entertainment business, as well as Hologram interactive entertainment, Hologram conference, Hologram social networking, Hologram communications, Hologram family, will be based on the core technologies of 5G+AI face recognition technology and Hologram AI face change technology to achieve effective growth.

It is believed that with the development of 5G technology, black technologies such as AR, VR, and 3D holography will soon penetrate our daily lives.

About Flipclutch

Flipclutch Team is a leading market research company in Hong Kong. They have established a professional and proprietary research platform for financial markets, focusing on emerging growth companies and technologically leading companies. Flipclutch team is professional in market research reports, industry insights & financing trends analysis. For more information, please visit http://www.Flipclutch.com

 

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PR Newswire

Future Fintech Group Inc. Announces $8 Million Registered Direct Offering

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NEW YORK, Dec. 24, 2020 — Future FinTech Group Inc. (NASDAQ: FTFT) ("Future FinTech", "FTFT" or "the Company"), a leading blockchain based e-commerce company and a service provider for financial technology, today announced that it has entered into a definitive agreement with institutional investors for the purchase and sale of 4,210,530 shares of its common stock and common stock warrants to purchase up to 4,210,530 shares of common stock at a combined purchase price of $8,000,007 in a registered direct offering. The common stock warrants have an exercise price of $2.15 per share, and will be immediately exercisable and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about December 29, 2020, subject to the satisfaction of customary closing conditions.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

The Company intends to use the net proceeds from this offering for general corporate purposes.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-224686) previously filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective on December 11, 2020. A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Future FinTech Group Inc.

Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company") is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida. The Company’s operations include a blockchain-based online shopping mall platform, Chain Cloud Mall ("CCM"), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain based application projects. The Company is also engaged in the development of blockchain based technology and services as well as financial technology services. For more information, please visit http://www.ftftex.com/.  

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2019 and our other reports and filings with SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

PR Newswire

Get ready for future tech: Goertek’s global R&D headquarters opened

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QINGDAO, China, Dec. 24, 2020 — Goertek inaugurated its global R&D headquarters in Qingdao on the morning of December 24, witnessed by relevant leaders of Qingdao City and Laoshan District, as well as Goertek Chairman Jiang Bin and President Jiang Long.

An innovation-driven technology company with a global vision, Goerteck invests 6%-8% of its annual revenue in research and development. It has so far applied for more than 20,000 patents, of which more than 10,000 have been granted and over 2,400 are recognized internationally by the Patent Cooperation Treaty (PCT). Its acoustic, optic and microelectronic precision components and intelligent hardware such as virtual/augmented reality products and smart headsets are fully competitive around the world.

Goertek established its global R&D headquarters in Qingdao in order to coordinate and integrate global R&D resources, draw elite global talent, and propel sustained technological innovation. Infused with Goertek’s mission of "a better life enriched by technology," the project organically combines people, technology and nature to interpret the profound meaning behind technology and beauty. Its raw concrete and GRC slabs are currently the largest among stand-alone buildings in China. Upon completion, the headquarters, with a total construction area of more than 300,000 square meters, will become a beautiful landmark on Goertek’s global map. Goertek’s global R&D headquarters will be a high-level R&D platform for virtual/augmented reality, acoustics, optics, new materials, artificial intelligence and other technological fields, meeting the needs for future consumer electronics development, and creating a national and even international information technology R&D highland to boost local socioeconomic development.

PR Newswire

PureVPN Unveils the Perfect Christmas Gift for Global VPN Users

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The leading VPN provider extends its Christmas wishes along with its premium offerings.

HONG KONG, Dec. 24, 2020 — Christmas is akin to a gift exchange tradition that is both heartwarming and pleasing. Following the same tradition with more zeal than last year, PureVPN has recently revealed its Christmas VPN deal, which is no less than a perfect present for every security and privacy-conscious or entertainment-seeking VPN fan.

PureVPN’s Xmas gift packs all its premium services and features at a whopping 86% off. The delightful discount is tagged to PureVPN’s most demanded 5-year plan. The actual price of the 5-year plan is $657, but with an 86% discount attached to it, users pay only $89, which breaks up at $1.48 per month.

PureVPN’s Christmas-exclusive VPN deal also extends to users who are interested in short-term yearly plans. The $131.4 1-year plan is now available at 62% off, which sets the discounted price at $49.95 total cost, a $4.16 monthly breakdown.

This rocking Christmas discount also comes as a token of appreciation to users who have helped PureVPN to make great headlines throughout 2020. PureVPN kicked off the year by putting its no-log claims to test by undergoing not one, but two independently led audits. The former one by a leading California based security systems auditor- Altius IT, and the latter by KPMG: one of the Big Four professional auditing services in the world. 

Moreover, PureVPN has upgraded its network infrastructure by adding more servers, taking the count up to 6,500+ VPN servers. Additionally, users who could use PureVPN on up to 5 devices only can now connect up to 10 devices with one account.

By signing up for the Christmas-exclusive VPN offer by PureVPN, users can enjoy all these perks and future upgrades seamlessly on their preferred devices. However, this is a limited-time offer, which is why PureVPN urges VPN users globally to get this deal before time runs out.