Flipclutch Research: AR also applied to beauty, whether WIMI can grasp the big business opportunities in the beauty market

HONG KONG, Jan. 8, 2021 — In recent years, AR technology has been increasingly used in all areas of our lives, including the beauty and makeup that many people involved every day.

According to the analysis of foreign media, AR has become an important part of the beauty industry. In the era of rapid technological development, the cosmetics industry is also constantly making intelligent innovations. From artificial intelligence to augmented reality technology, cutting-edge technology has been widely used in the design and production of cosmetics.

Augmented Reality (AR) technology is a technology that ingeniously integrates virtual information with the real world. It uses a variety of technical methods such as multimedia, 3D modeling, real-time tracking and registration, intelligent interaction, and sensing. Computer-generated texts, images, three-dimensional models, music, videos, and other virtual information are simulated and applied to the real world. The two kinds of information complement each other, thus realizing the "enhancement" of the real world.

Pay close attention to the beauty market, and you will find that in recent years, the beauty market has released some characteristics, such as more distinctive personality and full of vitality of products, and the beauty market continues to emerge with new crafts, new technologies, and new products. These technologies can provide consumers with convenience and better lifestyles in terms of beauty.

Augmented reality technology can recognize moving faces and can directly and realistically present makeup effects, making users look more energetic. At least for those who do a lot of Face Time and conference calls, this will meet their needs.

Many Chinese and foreign beauty companies did not stop development due to the emergence of thecoronavirus. Instead, they seized the opportunity to creatively continue to innovate in the beauty industry. For example, some foreign companies have developed AR makeup mirrors based on the peculiarities of wearing masks during the COVID-19 pandemic. Consumers can easily try makeup without taking off their masks, which is a pleasant surprise.

In recent years, the speed of technological innovation in countries all over the world is very fast. Beauty and cosmetics are industries that continue to introduce new ones, and they also have industrial scales of hundreds of billions of dollars. This also prompts companies that apply AR to the beauty industry to accelerate their pace of innovation. There are more and more AR companies in this field.

WIMI, as a holographic AR company listed on Nasdaq, is also constantly researching, and developing in the holographic AR field. Its business covers multiple links of the Hologram AR technology, including Hologram computer visual AI synthesis, Hologram visual presentation, Hologram interactive software development, Hologram AR online and offline advertising, Hologram ARSDK payment, as well as 5G Hologram communication software development. WIMI is a holographic cloud comprehensive technical solution provider. Meanwhile, its 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 has a leading AR holographic application platform in China, which is currently mainly used in entertainment, advertising, education, and other industries. Moreover, its hardware environment is relatively mature, which is very beneficial to the development of software and content in these fields. With the widespread application of holographic AR and other technologies, new content that integrates sensory experiences will emerge in an endless stream. More and more content can be experienced, which will further promote the development of society.

WIMI has established a comprehensive and diversified holographic AR content library among all holographic AR solution providers in China. WIMI Hologram Cloud owns about 4654 AR holographic contents, 106 software copyrights, and 219 technical patents. At present, with the development of display technology, computer processing capabilities, and the Internet, WIMI’s holographic technology has been applied in many fields, such as social, education, entertainment, medical, military, household, industry, tourism, e-commerce.

Experts look forward to the gradual development of AR in the field of beauty and cosmetics. With this development, the importance of AR in beauty will gradually increase. Innovation in the beauty industry is no longer just a slogan. Technological innovation has been applied to products, and it has truly penetrated the consumer’s daily life.

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

SOS Ltd. Announces Pricing of Approximately $25.0 Million Registered Direct Offering

QINGDAO, China, Jan. 8, 2021 — SOS Limited (NYSE: SOS) (the "Company" or "SOS"), a high-tech company providing a wide range of data mining and marketing analysis services to its corporate and individual members in China, announced today that it has entered into a securities purchase agreement with certain accredited investors to purchase $25,021,250 worth of its American Depositary Shares ("ADS") and warrants in a registered direct offering.

Under the terms of the securities purchase agreement, the Company has agreed to sell 13,525,000 ADSs and warrants to purchase 13,525,000 ADS. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $1.85. The warrants will expire five years from the date of issuance. The purchase price for one ADS and one corresponding warrant will be $1.85. The determination of the purchase price was based on the average of the Company’s closing stock price over the past five trading days.

 The gross proceeds to the Company from the registered direct offering are estimated to be $25,021,250 before deducting the placement agent’s fees and other estimated offering expenses. The registered direct offering is expected to close on or about January 12, 2021, subject to the satisfaction of customary closing conditions. The Company intends to use the proceeds from the offering to develop its planned blockchain-based security and insurance technology business as well as for working capital and general corporate use.

Maxim Group LLC is acting as sole placement agent in connection with this offering.

The securities described above are being offered by the Company pursuant to a shelf registration statement on Form F-3 (File No.: 333-250145) filed with the Securities and Exchange Commission (the "SEC") dated November 17, 2020, and declared effective on November 30, 2020. A prospectus supplement related to the offering will be, filed with the SEC and available on the SEC’s website at http://www.sec.gov. Copies of the prospectus supplement relating to the offering may be obtained, when available, by contacting: Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, by telephone: at (212) 895-3500.

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 the registration or qualification under the securities laws of such state or jurisdiction.

About SOS Limited

SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company providing a wide range of services to its corporate and individual members, including marketing data, technology and solutions for emergency rescue services. SOS is focused on the research and development of big data, cloud computing, Internet of Things, blockchain and artificial intelligence. We have created a SOS cloud emergency rescue service software as a service (SaaS) platform with three major product categories, including basic cloud (medical rescue card, car rescue card, financial rescue card, mutual assistance rescue card), cooperative cloud (information rescue center, intelligent big data, intelligent software and hardware), and information cloud (News Today, E-Commerce Today). This system provide marketing-related data, technology solutions, and technology-driven big data to clients such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers and other service providers in the emergency rescue services industry. SOS has obtained a national high-tech enterprise certification, the title of "big data star enterprise" awarded by Gui’an New District Government, and has registered 96 software copyrights and 2 patents. For more information, please visit: http://www.sosyun.com/ 

Forward-Looking Statements

Certain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transaction; the business plans, objectives, expectations and intentions of the parties; SOS’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities market acceptance of our products; the ultimate impact of the current Coronavirus pandemic, or any other health epidemic, on our business, our research programs, healthcare systems or the global economy as a whole; our intellectual property; our reliance on third party organizations; our anticipated financial and operating results, including anticipated sources of revenues; our assumptions regarding the size of the available market, benefits of our product offering, product pricing, timing of product launches; management’s expectation with respect to future acquisitions; statements regarding our goals, intentions, plans and expectations, including the introduction of new products and markets; and our cash needs and financing plans and etc. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. SOS may not realize its expectations, and its beliefs may not prove correct. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended December 31, 2019. SOS’s SEC filings are available publicly on the SEC’s website at www.sec.gov. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.

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http://www.sosyun.com/

Senior-friendly apps: Making technology more accessible

BEIJING, Jan. 8, 2021 — A news report by China.org.cn on China’s recent campaign for bridging the digital divide for the elderly:

 

Starting this January, many popular Chinese apps and websites such as WeChat, Taobao and Douyin will be redesigned to make them more senior-friendly.

These redesigns are aimed at solving challenges faced by the elderly in using new intelligent technologies. Specifically, the measures include: launching senior-friendly products with accessible and easy-to-use interfaces; and improving the accuracy of dialect-recognition systems to allow the elderly who can’t speak Mandarin to use voice commands. Also, on apps set to "senior mode," there will be no mobile ads, or any design that lures people into extra payments; and people over 65 will be able to reach a customer services representative over the phone without the need to follow overly complicated voice prompts or input text via keypad. According to reports, 115 websites and 43 apps are planning to roll out custom features and barrier-free designs for the elderly this year.

Many have described these new changes as truly heartwarming.

Nowadays, people in China use their cellphones for everything: Ordering taxis, making payments, booking train tickets and ordering takeaway. However, among the 274 million senior cellphone users in China, nearly 140 million don’t have internet access or never enjoyed the benefits of a smartphone. As smart technology becomes increasingly widespread, the elderly can sometimes run into problems. For example, due to the COVID-19 pandemic, a "health code" is required to enter many public places in China. However, this has made it difficult for many senior citizens to get around if they don’t know how to use a smartphone or the "health code." Therefore, recently, the call for solving the difficulties that the elderly face when using smart technology has become stronger in China.

Making websites and apps more senior-friendly is a new campaign initiated by the Chinese government to help the elderly bridge the digital divide, which responds to the needs of the people.

In China, a country that values respect for one’s elders, these measures demonstrate the tradition of caring for the elderly. In the context of an ageing population, China hopes to improve services for the elderly through these thoughtful and timely policies to let them share in the fruits of the booming digital economy.

If China’s app-based and smart technology innovations that have attracted world’s attention reflect the "speed" of development, these redesigns and custom measures reflect the "warmth" of policies. Improving technologies, changing ways of thinking and adjusting policies to provide custom solutions for the elderly shows human-centered care in tune with the demands of the times and society.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm
Senior-friendly apps: Making technology more accessible
http://www.china.org.cn/video/2021-01/08/content_77094282.htm

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http://www.china.org.cn

Sodexo Reinvents Catering with Atlas AI Platform

PARIS, Jan. 8, 2021 — When it comes to food choices, what is on the top of consumers’ mind? Taste, look, or service experience? Maybe for today’s consumers, the answer is "All of them".

Sodexo, one of the world's largest catering service providers, works with Huawei to launch the Seefood intelligent settlement solution. The solution builds on the Huawei Atlas AI software and hardware platform, and combines AI image recognition into the settlement phase to automatically recognize dishes, calculate prices, and complete settlement via cards and mobile terminals.
Sodexo, one of the world’s largest catering service providers, works with Huawei to launch the Seefood intelligent settlement solution. The solution builds on the Huawei Atlas AI software and hardware platform, and combines AI image recognition into the settlement phase to automatically recognize dishes, calculate prices, and complete settlement via cards and mobile terminals.

People are increasingly health-conscious, and choices of food are many out there. However, traditional catering services are not personalized enough, let alone providing health tips for each customer. Cafeterias for enterprises, schools, and other large facilities face multiple challenges, such as slow settlement and long queues. These problems also affect customer experience. It has now become an industry trend to introduce intelligent methods to improve dining experience and efficiency.

To address these challenges, Sodexo, one of the world’s largest catering service providers, works with Huawei France to launch the Seefood intelligent settlement solution. The solution builds on the Huawei Atlas AI software and hardware platform, and combines AI image recognition into the settlement phase to automatically recognize dishes, calculate prices, and complete settlement via cards and mobile terminals.

This solution uses deep metric learning to accurately recognize each dish in 0.3 seconds. It learns rapidly and can instantly recognize the distinguishing features of a dish after the canteen operator inputs a new dish image. The system provides an algorithm for updating the features of incorrectly identified samples to improve the recognition rate. In addition, after each recognition, the terminal system automatically adds object detection and classification labels and sends them to the training platform on the cloud. In this way, the number of training samples and the precision of the algorithm models are improved on the go. The more it is used, the smarter the system becomes.

The Seefood solution sets itself apart by providing real-time nutrition and calorie information. Empowered by these innovations, the solution not only eliminates the need for manual cashier intervention to drastically cut queuing time, but delivers healthier, tech-driven, and more personalized services for diners.

"I come here every day for my work lunch. It’s now fully self-service, from dish choosing to settlement. No more queues! It’s ‘food with fun’," said an engineer at the canteen of a Guangzhou-based company using the Seefood solution. Another interviewee, a market specialist, said, "The canteen now can even calculate the calories of food and provide very intuitive nutrition reference. That’s a game changer and exactly the ideal dining solution for health-conscious people like me."

For cafeteria operators, the Seefood solution implements fully automated settlement, and provides order and turnover statistics to visualize operation data, helping them improve service capability and boost operational efficiency.

A cafeteria that serves 2000 people can accelerate its settlement speed from 20 seconds per person to just 3 seconds, increase the number of people served per hour from 180 to 1200, and implement 24/7, real-time operation data management and analysis.

Currently, the Seefood solution has been applied by Sodexo in its cafeteria for Huawei’s Shenzhen headquarters, as well as other large enterprises, hospitals, and universities in cities including Guangzhou, Shenzhen, and Shanghai in China. The solution has already demonstrated its marvelous business value and is well received by canteen operators and consumers.

Looking ahead, Sodexo is planning to promote this solution globally. The solution will be deployed in Sodexo’s cafeterias in West Europe in the first half of 2021. Martin Boden, President of Sodexo China, said, "Innovation is in Sodexo’s DNA, and China is one of the countries leading the world’s technological and digital transformation. We are delighted to work with Huawei to develop innovative service models for catering. Through this joint innovation project, we can better serve our customers, and enrich customer experience in terms of efficiency, convenience, and health. We are committed to providing better Quality of Life services for consumers in China and around the world."

Huawei has been honing an AI software and hardware platform that delivers unrivaled ease of use and performance. Huawei works with industry customers and application partners to deliver AI innovation for industries. Huawei will deepen its collaboration with Sodexo to explore more scenarios in the catering industry, make catering services more convenient, and provide a better dining experience for consumers.

Sodexo is one of the world’s largest catering service providers and a Fortune Global 500 company. Headquartered in Paris, France, Sodexo provides catering services for enterprises, schools, hospitals, nursing homes, and factories worldwide. With professional teams of chefs, dieticians, and kitchen staff, Sodexo has long been passionate about providing quality food that tastes amazing and delights its customers.

For more information, please visit here
Email: enterpriseweb@huawei.com

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https://e.huawei.com

Yuanyuan’s Adventure Episode Ⅴ: Contemporary Development

BEIJING, Jan. 8, 2021 — A news report by China.org.cn:  

 

On October 25, 1945, Taiwan and Penghu Islands returned to China. Since then, the people of Taiwan were quickly devoted to the modernization drive. Driven by export-oriented policies, Taiwan’s economy recovered rapidly and has developed steadily.

By the end of the 1970s, Taiwan was counted among the "Four Asian Tigers" that boasted dynamic economic development. Chinese traditional culture was also fully revived in Taiwan after residents were freed from the oppression and cultural repression of the Japanese colonists.

With a history of more than 1,000 years, Mazu culture is representative of Chinese traditional culture and an important symbol of Chinese marine culture. Mazu or Ma-Tsu, literally referring to "maternal ancestor," is also known as "Mazupo" ("Granny Mazu") in east China’s Fujian Province, where her hometown is located. The goddess and patroness of the sea, who is believed to protect fishermen and sailors, has been widely worshiped in Taiwan ever since a large number of Fujian residents came to the island in the Qing Dynasty. Nowadays, Mazu culture is an important part of local residents’ folk lore.

Due to historical reasons, Taiwan, which shares indivisible blood ties with the Chinese mainland, has been separated from the Chinese mainland for more than half a century. The ultimate reunification of the two sides of the Taiwan Strait is not only an inevitable trend, but also the expectations of compatriots on both sides.

The Chinese mainland upholds the basic state policy of "peaceful reunification; one country, two systems" towards Taiwan, adhering to the "1992 Consensus", firmly opposing "Taiwan independence", as well as maintaining, consolidating and advancing the peaceful development of cross-Strait relations under the one-China principle to realize reunification.

The Anti-Secession Law passed in 2005 provided a solid legal guarantee for curbing and cracking down on "Taiwan independence" separatist forces, deterring external elements’ interference, and promoting the development of cross-Strait relations. A series of measures giving equal treatment to Taiwan compatriots, including the "31 Measures" and "26 Measures" introduced in recent years have laid a solid foundation for the peaceful development of cross-Strait relations and the realization of reunification.

The deep-rooted longing for home looms large over the shallow Taiwan Strait. Only when reunification is achieved can compatriots across the Strait realize the Chinese Dream.

Yuanyuan’s Adventure Episode Ⅴ: Contemporary Development
http://news.china.com.cn/txt/2021-01/08/content_77092614.htm

Yan’an: No Longer in Poverty

BEIJING, Jan. 8, 2021 — An article by China.org.cn on how people in Yan’an, a poverty-stricken place:

 

Yan’an is sacred ground for China’s revolutionary history, but also a place that has lagged in economic and cultural development for a long time.

On May 7, 2019, the revolutionary base of Yan’an reached a historic milestone, bidding farewell to absolute poverty as its last two impoverished counties of Yanchuan and Yichuan finally shook off the pernicious yoke.

The struggle behind these milestones are treacherous. As an example, a lack of industry was Shawan Village’s Achilles’ heel.

At great difficulty, the town government had found a patch of land that was on the leeward side of a slope and also faced the sun, and decided to set up greenhouses for growing vegetables.

Likewise, at Huangjia Geta Village, Yongping Town, Yanchuan County, all of the people live in a deep ravine surrounded by large mountains with infertile soil. They have to drink alkaline water, and walk on muddy roads. Nearly all of the village’s young people go elsewhere for work.

Poverty alleviation authorities built 231 greenhouses in the village, but the locals, who had been planting grain for generations, had never grown vegetables in greenhouses before. Here comes the second obstacle: people’s mindset.

Village officials went from house to house to convince people to participate, but only 47 families reluctantly agreed.

Local officials had to keep going out and meeting the skeptics, and tried to convince the locals, clear up everybody’s concerns. In order to make sure the work got done, local officials even took farmers to other places to let them see the actual benefits of greenhouses.

Everything started from scratch. At first the seedlings would die quickly since the locals didn’t know how to plant properly, and the watermelons would not grow big since they didn’t know how to take care of them in the right way. Even after struggling to get a harvest, fruits and vegetables would often go unsold.

When faced with planting difficulties, officials would invite specialists and technicians to the village to conduct training, making sure everyone gets the skills.

One by one, the greenhouses started springing up. In Huaziping Town today, greenhouses, apple orchards, and farms for raising animals are spread across every village. More than 400 households that once faced a dearth of opportunities now have access to industries that can bring long-term prosperity, and per-capita net income for the town’s poor population has reached 9,853 yuan. In 2018, Huangjia Geta Village’s greenhouses together brought in more than 3 million yuan, with per-capita income of more than 10,000 yuan for the 15 poor households planting them.

Altogether 1,784 officials were posted in villages to serve as first secretaries, and 1,546 work teams were posted in villages to work on the front lines, with a total of 37,400 officials providing assistance to assigned households. "With the assistance of officials and the hard work of the people, we can shake off poverty and build prosperity." This is the kind of slogan that can be seen everywhere among the hills of Yan’an.

People in China know of Wuqi as the terminus of the Long March, but it also has a nickname that is only known to the locals: "the desolate roof of Yan’an."

The area has an extremely arid climate and is covered with barren mountains. Every time the wind blows, the air is filled with sand and silt so dense that it blots out the sun. The environment is so bad here that it is as if it keeps the area locked in a chokehold. According to the records of the Yan’an Area Chronicles, in the more than 580 years between the beginning of the Ming Dynasty and the founding of the PRC, Yan’an was affected by natural disasters including drought, flooding, and hail more than 200 times.

The people here live between the winkles of the earth. The more land they try to reclaim, the more barren the land gets. The more barren the land gets, the poorer the people become. The poorer the people become, the more land they try to reclaim. Yan’an has become one of the areas most seriously affected by soil erosion on the upper reaches of the Yellow River.

In 1997, Wuqi County, which relied on goat breeding as its mainstay industry, invited experts from the Food and Agriculture Organization of the United Nations to come and inspect the area, in the hopes that they could provide advice for developing the local livestock industry.

This group of experts hit the nail on the head in their evaluation, saying, "Goats should no longer be allowed to graze in Wuqi, as the ecosystem is far too fragile."

A year later, Wuqi led the nation in implementing policies that prohibited grazing on the mountains, supported the planting of trees and grass, and promoted dry lot feeding of goats. This would remove 238,000 goats from open grazing in one fell swoop.

In 1999, the central government launched the Grain for Green Policy, and the people of Yan’an shifted their focus from reclaiming land to afforestation.

However, planting trees in a place as dry and drought-prone as Yan’an was easier said than done.

Spring is the tree planting season, and also the time of year when northern Shaanxi is gripped by a bitter chill. In order to plant trees on the steep cliffs, local officials led the locals up the mountains, climbing with their hands and feet as they carried baskets full of saplings on their backs.

In such a dry and arid place, it is very difficult for all the newly-planted trees to survive, so replanting is required each year. It is perfectly normal to see five generations of trees in a single forest.

Now, 20 years later, the place is surrounded by lush and verdant scenery. Scanning the surroundings from the mountaintop, one can see the nearby apple orchard, which will bear fruit this year. Tourism has developed. The under-forest economy is developing in the mountains. Last year, the size of the village’s collective economy surpassed two million yuan, with more than 30 poor families breaking away from poverty completely.

Over 20 years, the people of Yan’an have returned 718,000 hectares of farmland to forest. These efforts have pushed the edge of greenery seen in satellite imagery northward by more than 400 kilometers, and increased vegetation cover from 46.3% in the year 2000 to 81.3% today. Formerly dominated by desolate gullies and ravines, Yan’an was named a national forest city in 2016.

The people of Yan’an always say that without fundamental improvements to the environment, eradicating poverty would be out of the question.

But there are places where environment is extremely harsh and the cost to transform it is too high. In such places, local government decided to relocate local people. Besides leaving their cave houses, these relocated people also start their new ways of living. Instead of farming, they work in cultural and other industries.

In Ansai, 2,524 families have moved to new homes through the campaign to alleviate poverty through relocation.

Every story of escaping from poverty involves a sigh of relief when one finally leaves their misery behind.

Each county, village, and family emerged from poverty through its own approach. On the vast canvas of 37,000 square kilometers of steep ridges and deep gullies, the people of Yan’an drew up one meticulously detailed blueprint after another for guiding themselves out of poverty.

In Luochuan, of the 2,836 poor families able to put out labor power, 2,604 built apple orchards.

In Yanchuan, the locals vigorously developed leading industries including farming apples on hillsides, growing jujubes along the Yellow River, farming in greenhouses on areas of flat land, and raising animals in ravines, and average disposable income per farmer has reached 9,548 yuan.

In Yichuan on the banks of the Yellow River, e-commerce service providers are spread across all of the poor villages.

In 2018, Yan’an’s total economic output reached 155.89 billion yuan, with growth of 9.1% setting a five-year high. Tertiary industry and the non-public sector of the economy have grown in proportion to 31.7% and 29.3%, respectively. The pattern under which Yan’an went through ups and downs due to its dependence on oil is in the process of transforming.

The city continues to bear witness as its 2.26 million sons and daughters continue, to advance toward achieving the goal of moderate prosperity in this place that is so important to China’s history.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm

Yan’an: No Longer in Poverty
http://v.china.com.cn/2020-12/29/content_77060381.htm

Ribbon Selects Switch Connect as its First Universal Partner in Australia New Zealand


WESTFORD, Mass., Jan. 8, 2021Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real time communications software and network solutions to service providers, enterprises, and critical infrastructure sectors, today announced that it has appointed Switch Connect, one of Australia’s premier IP-centric telecommunications providers, as its first ANZ (Australia New Zealand) universal partner.

"Ribbon is widely acknowledged as a market leader in carrier-class Unified Communications and voice routing solutions, and we see a lot of potential in working together for future projects," said Rohan Milne, Chief Executive Officer, Switch Connect. "We look forward to a long and fruitful relationship delivering best in class solutions together."

Switch Connect resells Ribbon’s entire channel-ready portfolio, including Session Border Controllers (SBCs), Analytics, Security solutions and more to partners and end customers, and has Ribbon-certified engineers on staff to offer support and services. As a universal partner, it also hosts an Edgeview Service Control Center to manage and monitor customer site EdgeMarc SBCs.

"The Channel is key to our go to market strategy, and we’re delighted to welcome Switch Connect as our first universal partner in ANZ," said Robert Inshaw, SVP Asia, Ribbon. "With its established reputation in the industry and experience delivering key projects for some of Australia’s leading carriers and managed service providers, we’re confident in their ability to help us further penetrate this important market with our state of the art capabilities."

About Ribbon

Ribbon Communications (Nasdaq: RBBN) delivers global communications software and packet and optical network solutions to service providers, enterprises and critical infrastructure sectors. We engage deeply with our customers, helping them modernize their networks for improved competitive positioning and business outcomes in today’s smart, always-on and data-hungry world. Our innovative, end-to-end solutions portfolio delivers unparalleled scale, performance, and agility, including core to edge IP solutions, cloud-native offers, leading-edge software security and analytics tools, as well as 5G-ready packet and optical networking solutions acquired via our recent merger with ECI Telecom. To learn more about Ribbon visit rbbn.com.

Important Information Regarding Forward-Looking Statements  

The information in this release contains forward-looking statements regarding future events that involve risks and uncertainties. All statements other than statements of historical facts contained in this release, including those regarding market expansion, are forward-looking statements. The actual results of Ribbon Communications may differ materially from those contemplated by the forward-looking statements. For further information regarding risks and uncertainties associated with Ribbon Communications’ business, please refer to the "Risk Factors" section of Ribbon Communications’ most recent annual or quarterly report filed with the SEC. Any forward-looking statements represent Ribbon Communications’ views only as of the date on which such statement is made and should not be relied upon as representing Ribbon Communications’ views as of any subsequent date. While Ribbon Communications may elect to update forward-looking statements at some point, Ribbon Communications specifically disclaims any obligation to do so.

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+1 (212) 871-3927

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Hollysys Announces Management’s Plan to Purchase Public Market Shares

BEIJING, Jan. 8, 2021 — Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announces that it has been notified that certain members of the Company’s management team plan to purchase the Company’s ordinary shares from the public market at market prices.  The share purchases will be conducted by a special purpose vehicle beneficially owned and funded by management of the Company.  They expect to purchase shares in an aggregate value of up to US$50 million over a six-month period. Shares purchased by management will be subject to a voluntary lock-up period of at least  24 months.  Management will be subject to the Company’s insider trading policy and the SEC reporting obligations.

Ms. Li Qiao, Chairwoman of the Hollysys board, said, "management’s plan to purchase public market shares demonstrates management’s confidence in the Company and their ongoing commitment to delivering value to our shareholders."

About Hollysys Automation Technologies Ltd.

Hollysys is a leading automation control system solutions provider in China, with overseas operations in eight other countries and regions throughout Asia. Leveraging its proprietary technology and deep industry know-how, Hollysys empowers its customers with enhanced operational safety, reliability, efficiency, and intelligence which are critical to their businesses. Hollysys derives its revenues mainly from providing integrated solutions for industrial automation and rail transportation. In industrial automation, Hollysys delivers the full spectrum of automation hardware, software, and services spanning field devices, control systems, enterprise manufacturing management and cloud-based applications. In rail transportation, Hollysys provides advanced signaling control and SCADA (Supervisory Control and Data Acquisition) systems for high-speed rail and urban rail (including subways). Founded in 1993, with technical expertise and innovation, Hollysys has grown from a research team specializing in automation control in the power industry into a group providing integrated automation control system solutions for customers in diverse industry verticals. Hollysys had cumulatively carried out more than 30,000 projects for approximately 17,000 customers in various sectors including power, petrochemical, high-speed rail, and urban rail, in which Hollysys has established leading market positions.

SAFE HARBOUR

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Such forward-looking statements, based upon the current beliefs and expectations of Hollysys’ management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contact information:
Hollysys Automation Technologies Ltd.
www.hollysys.com
+8610-5898-1386
investors@hollysys.com

Related Links :

http://www.hollysys.com

ReneSola Power Announces Sale of 12.3 MW of Projects in Hungary


STAMFORD, Conn., Jan. 8, 2021 — ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced that it entered into an agreement to sell a portfolio of projects located in Hungary to Obton, a leading international solar investment company headquartered in Aarhus, Denmark.

The portfolio comprises 20 solar plants in five locations, including Sárbogárd, Kömlöd, Szajol, Lukacshaza, and Törökszentmiklós, with a combined capacity of 12.3 MW.  These 20 solar projects, which were successfully connected to the grid in 2020, are now in operation and are qualified under the Hungarian 25-year KAT feed-in tariff scheme.

Mr. Josef Kastner, CEO of ReneSola European Region, commented, "Despite ongoing challenging macro conditions, our team continues to execute on our strategy and optimize our solar assets through strategic sales. Obton remains a valuable partner for us, and we are thrilled to once again collaborate on this transaction. We look forward to working with Obton in Hungary and other geographies across Europe in the future."

ReneSola Power CEO Yumin Liu added, "Over the past several years, we have demonstrated our expertise in developing and operating solar projects, closing financing transactions and monetizing projects to generate profits in the downstream segment of the solar industry across Europe.  Hungary remains an important market for solar power in the EU, and this transaction further strengthens ReneSola Power’s market position in the country.  We are proud of our team, and believe we are well-positioned to drive more profitable growth in the quarters ahead."

Mr. Anders Marcus, CEO and Co-founder of the Obton Group, said, "ReneSola Power is a trusted partner of Obton’s, and we are excited to increase our participation in the Hungarian solar market with the support from ReneSola Power. Importantly, we are encouraged that we were able to enter into an agreement despite the challenging circumstances.  We are also proud of our team for being effective, creative and goal-oriented, which we believe are the key competences for success.  We look forward to joining forces with ReneSola Power to pursue other project opportunities in Hungary and any other countries in the future."

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.

About OBTON

Obton is an investment and development company that targets land and rooftop owners, developers and financial institutions with the goal of building a broad and risk-diverse portfolio of assets in the field of renewable energy. Our expertise includes development, funding and management of solar PV projects – primarily projects starting from EUR 10m for stable markets in Europe and North America.

Related Links :

http://www.renesolapower.com

Hollysys’ Board of Directors Rejects Unsolicited Offer

BEIJING, Jan. 8, 2021 — Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), today announced that its Board of Directors (the "Board"), after careful review and consideration and with the assistance of its executive management team as well as outside financial and legal advisors, has determined that the unsolicited offer made by Mr. Baiqing Shao, CPE Funds Management Limited and purportedly on behalf of Ace Lead Profits Limited (collectively, the "Consortium") on December 7, 2020, to acquire all of the outstanding ordinary shares of the Company for $15.47 in cash per ordinary share, substantially undervalues the Company and is not in the best interest of the Company’s shareholders.

"Our Board is confident in Hollysys’ strategic direction," said Ms. Li Qiao, Chairwoman of Hollysys. "We believe that the Company has significant value creation potential as a result of its leading position in the automation industry and strong research and development capabilities.  Our pursuit of enhanced operational safety, reliability and efficiency, supported by our proprietary technology and industry know-how, enable us to provide better integrated solutions to our customers and allow us to continue to deliver value to our shareholders.  We believe the Consortium’s unsolicited proposal would deprive our shareholders of the value inherent in Hollysys for inadequate consideration.  Our Board is committed to enhancing value for the Company’s shareholders and will protect shareholders against non-strategic or undervalued proposals."

About Hollysys Automation Technologies Ltd.

Hollysys is a leading automation control system solutions provider in China, with overseas operations in eight other countries and regions throughout Asia. Leveraging its proprietary technology and deep industry know-how, Hollysys empowers its customers with enhanced operational safety, reliability, efficiency, and intelligence which are critical to their businesses. Hollysys derives its revenues mainly from providing integrated solutions for industrial automation and rail transportation. In industrial automation, Hollysys delivers the full spectrum of automation hardware, software, and services spanning field devices, control systems, enterprise manufacturing management and cloud-based applications. In rail transportation, Hollysys provides advanced signaling control and SCADA (Supervisory Control and Data Acquisition) systems for high-speed rail and urban rail (including subways). Founded in 1993, with technical expertise and innovation, Hollysys has grown from a research team specializing in automation control in the power industry into a group providing integrated automation control system solutions for customers in diverse industry verticals. Hollysys had cumulatively carried out more than 30,000 projects for approximately 17,000 customers in various sectors including power, petrochemical, high-speed rail, and urban rail, in which Hollysys has established leading market positions.

SAFE HARBOUR

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Such forward-looking statements, based upon the current beliefs and expectations of Hollysys’ management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contact information:
Hollysys Automation Technologies Ltd.
www.hollysys.com
+8610-5898-1386
investors@hollysys.com

Related Links :

http://www.hollysys.com