Yearly Archives: 2021

PR Newswire

Lion Announces Response to SEC Guidance Issued on April 12, 2021 Applicable to Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)

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HONG KONG, June 12, 2021 — Lion Group Holding Ltd. ("Lion" or "the Company") (NASDAQ: LGHL), operator of an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors, announced today in a Current Report on Form 6-K, that as a result of recently issued guidance provided by the Division of Corporate Finance of the Securities and Exchange Commission (the "SEC") on April 12, 2021 for all SPAC-related companies regarding the classification of their warrants for accounting and reporting purposes (the "SEC Statement"), it will restate its previously issued consolidated financial statements included on the Form 20-F for the year ended December 31, 2020.

The restatement pertains to the accounting treatment for public and private warrants (the "Public Warrants" and "Private Warrants") issued in connection with the initial public offering of Proficient Alpha Acquisition Corp. ("PAAC") and recorded to the Company’s consolidated financial statements as a result of the Company’s merger with PAAC, a SPAC and legal predecessor of the Company, and Lion Financial Group Limited on June 16, 2020 (the "Business Combination").

Consistent with market practice among SPACs, the Company had been accounting for the Public and Private Warrants as equity. However, consistent with the recent SEC Statement, the Company intends to restate certain of its historical financial statements such that the Public and Private Warrants are accounted for as liabilities and marked-to-market each reporting period (the "restatement"). In general, under the mark-to-market accounting model, as the stock price increases, the fair value of the warrant liabilities increases, and the Company recognizes additional non-operating expense in its income statement – with the opposite effect when the stock price declines.

The Company does not anticipate the restatement to impact its previously communicated non-GAAP operating metrics for 2020.

As a result of the restatement and the decrease in the Company’s stock price over the applicable period, the Company expects to recognize incremental non-operating income of approximately $0.8 million for the period from June 16, 2020 through December 31, 2020. There will be no impact to the Company’s previously reported net cash flow.

The following provides additional detail regarding how the Company currently anticipates the restatement will impact its consolidated financial statements:

  • Opening Balance Sheet Impacts — As of the date of the Business Combination (June 16, 2020), the fair value of the Public and Private Warrants will be reflected as warrant liabilities in the balance sheet with a corresponding offset in Additional paid-in-capital in equity.
  • Income Statement Impacts — Subsequent to the close of the Business Combination, any change in the fair value of the Public and Private Warrants is recognized in the income statement below operating profit as "Change in fair value of warrant liabilities" with a corresponding amount recognized in the balance sheet. (In the Company’s case, this is recognized as warrant liabilities below current liabilities in the balance sheet).
  • Balance Sheet Impacts — As is noted above, the balance of the warrant liabilities on the balance sheet reflects the fair value of the Warrants.
  • Cash Flow Impacts — The impact of the changes in fair value of the Public and Private Warrants has no impact on net cash provided by (used for) operating activities.
  • Statement of Equity Impacts — The impact to Additional paid-in-capital as of the opening balance sheet is highlighted above.

These estimates are subject to change as management completes the restatement, and the Company’s independent registered public accounting firm has not audited or reviewed these estimates. As a result, the expected financial impact described above is preliminary and subject to change.

Finally, as of today, the Company has approximately 11.5 million Public Warrants and 5.4 million Private Warrants outstanding. No Public or Private Warrants have been exercised or redeemed since originally issued.

About Lion

Lion Group Holding Ltd. (NASDAQ: LGHL) operates an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors. Through its state-of-the-art technology, Lion offers contract-for-difference (CFD) trading, insurance brokerage, futures brokerage, and securities brokerage on its platform, which can be accessed through applications available on the iOS, Android, Windows, and macOS systems. Lion’s customers are well-educated and affluent Chinese individual investors residing both inside and outside the PRC as well as institutional clients in Hong Kong. Additional information may be found at http://ir.liongrouphl.com.

Forward-Looking Statements

This press release contains, "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Lion’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Lion’s expectations with respect to future performance and anticipated financial impacts of the Business combination, the satisfaction of the closing conditions to the business combination and the timing of the completion of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of Lion and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to maintain the listing of the post-acquisition company’s ADSs on NASDAQ following the business combination; (2) the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the transactions described herein; (3) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (4) costs related to the business combination; (5) changes in applicable laws or regulations; (6) the possibility that Lion may be adversely affected by other economic, business, and/or competitive factors; and (7) other risks and uncertainties to be identified in the proxy statement/prospectus relating to the business combination, including those under "Risk Factors" therein, and in other filings with the Securities and Exchange Commission ("SEC") made by Lion. Lion cautions that the foregoing list of factors is not exclusive. Lion cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Lion does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law.

Contacts

Lion Group Holding
Tel: +852 2820 9011
Email: ir@liongrouphl.com 

ICR, LLC
William Zima
Tel: +1 203 682 8233
Email: ir@liongrouphl.com

Related Links :

http://www.liongrouphl.com

PR Newswire

Dreame T30 Cordless stick Vacuum to Debut in Europe via AliExpress

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BEIJING, June 12, 2021 — Dreame Technology, a growing innovative company specializing in smart home cleaning appliances, has taken another big step in creating a smarter and cleaner home with its new generation product—Dreame T30 cordless stick vacuum. Powered by cutting-edge technology, Dreame T30 cordless stick vacuum will hit the shelves of AliExpress in Europe at 9 am CET, June 14.

Dreame T30 is meant to bring transcendent cleaning experiences for your home
Dreame T30 is meant to bring transcendent cleaning experiences for your home

Since early 2020, people’s lifestyle has altered tremendously due to the raging pandemic all over the world. As people began to spend more time working from home and staying with family, they may find airborne particles and hidden dust a nuisance or even a health threat particularly for those allergic to dust mites. Dreame technology has been fully aware of such an urgent demand and launches Dreame T30 to bring transcendent cleaning experiences for home.

Industry-leading Motor and Strong Suction Power
Dreame T30 boasts a 150K PRM ultra-high-speed motor that generates strong suction power and whole machine filtration which captures micro particles, such as pollen and bacteria, for an effective deep clean. Even with such a powerful motor and strong suction power, its 8-layer noise reduction system keeps the noise to a minimum level, bringing pleasant and quiet cleaning experiences.

Long Battery Life and Removable Battery Pack
The performance of a vacuum cleaner depends not only on the suction power and filtration, but also its run-time and internal system. Dreame T30 features a 8*2900mAh lithium-ion polymer battery pack, with 90min runtime in Eco mode. Its detachable battery design allows more convenient recycling and energy protection. With streamlined configuration and smart cooling, Dreame T30 keeps the battery running in a consistent temperature to ensure a steady and impressive performance.

Intelligent HD Screen and Auto-adapt Cleaning
Dreame T30 also highlights an intelligent HD screen that displays real-time data to inform users of cleaning record, dust detection, filter replacement, battery life, etc., allowing users to get a grip on cleaning.

Besides that, its dirt-detection sensor can automatically adjust suction power based on the amount of dust it senses. In other words, when Dreame T30 detects a big mess of dust, its suction power is triggered to increase automatically. When dust level falls, the suction power is reduced to its normal mode.

Dreame T30’s launch lasts from 9:00 a.m. CET, June 14 to 08:59 a.m. CET, June 26, with promotional price of $379.99 at AliExpress. The top 150 customers will get a FREE Dreame Cordless Rotary Electric Mop (worth $139). During this period, if you want to buy an additional T30 battery pack (originally priced at $100), you only need to pay $30.

About Dreame Technology 
Established in 2015, Dreame Technology, an innovative consumer product company, focuses on smart home cleaning appliances with the vision to improve global users’ life quality through technology. Follow us on Facebook, Instagram and Twitter. For more information, please visit https://www.dreame-technology.com.

PR Newswire

Meridian Capital-Backed Zhipin.com Lands on Nasdaq

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BEIJING, June 12, 2021 — On June 11, China’s largest online recruitment platform, Zhipin.com, successfully listed on the Nasdaq Stock Exchange, with the stock code BZ. In this IPO, 48 million American Depositary Shares (ADS) were issued, and the total funds raised exceeded USD1 billion. The company’s overall valuation exceeds USD8 billion.

Meridian Capital is an important institutional investor of Zhipin.com. After Zhipin.com’s founding in 2014, an in-depth communication between Meridian Capital and Zhipin.com’s founders started at the beginning of 2015, and by September of that year Meridian Capital had developed the investment framework and term sheet to become the company’s lead investor in the first round of Series C funding.

Subsequently, Meridian Capital increased its investment in Series C2 financing, and has been helping and accompanying the growth of Zhipin.com for more than 6 years.

Ji Wei, the founding Managing Partner of Meridian Capital, said, Zhipin.com has subverted the traditional resume-centric recruitment mode, promoting the efficient connection between recruiters and job seekers, and greatly improving the efficiency of talent matching.

In this case, initially, Meridian Capital was also a user of Zhipin.com, and later became its investor.

Ji Wei, Founding Managing Partner of Meridian Capital, Gaonan Zhang, Managing Partner of Meridian Capital with the Founder of Zhipin.com
Ji Wei, Founding Managing Partner of Meridian Capital, Gaonan Zhang, Managing Partner of Meridian Capital with the Founder of Zhipin.com

Meridian Capital is a leading venture capital firm in China. Up to now, Meridian Capital has managed over RMB8.5 billion of capital and invested in more than 190 companies. Meridian Capital has continually been active in the digital economy space, especially with regard to technology empowerment enterprises.

In addition to Zhipin.com, Meridian Capital has also invested in industry leading companies including Weimob, Biren Technology, DeepBlue Technology, Joyou.com, Beagledata. Meridian Capital has acted as the lead investor for 91% of all of its investment projects.

From the statistical data it can be seen that Meridian has successfully exited from more than 40 portfolios either through an IPO or through M&A, and nearly two-thirds of the companies it has invested in have completed multiple subsequent rounds of financing.

Zhao Peng, founder and CEO of Chinese tech sector recruitment leader Boss Zhipin
Zhao Peng, founder and CEO of Chinese tech sector recruitment leader Boss Zhipin

In the future, there is still considerable room for growth for Zhipin.com. CIC research data shows that the scale of China’s online recruitment market is expected to increase from RMB55.1 billion in 2020 to RMB223.4 billion in 2025, with a CAGR of 32.3%. 

Contact: gloria.xiang@meridiancapital.com.cn

 

PR Newswire

Pasternack Unveils New High-Power RF and Microwave PIN Diode Coaxial Packaged Switches

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New High-Power PIN Diode Switches Utilize GaN Semiconductor Technology

IRVINE, Calif., June 12, 2021 — Pasternack, an Infinite Electronics brand and a leading provider of RF, microwave and millimeter wave products, has just launched a new series of high-power RF and microwave PIN diode coaxial packaged switches that are ideal for commercial and military radar, jamming systems, medical imaging, communications and electronic warfare.

Gan high power pin diode switches lp-crop-u174266
Gan high power pin diode switches lp-crop-u174266

Pasternack’s new high-power RF and microwave PIN diode switches utilize GaN semiconductor technology. GaN and chip & wire technology in the manufacturing process ensures state-of-the-art power performance with excellent power-to-volume ratio that is ideal for broadband high power applications. These PIN diode switches offer excellent thermal properties and a significantly higher breakdown voltage that results in tolerating higher input power levels over broadband and narrowband RF and microwave frequencies. Because these are PIN diode designs, they also offer fast switching speed as low as < 50 nsec.

Other features include cold switching performance up to 100 watts CW RF input power, broad frequency band coverage ranging from DC to 18 GHz with reflective SPDT and SP4T PIN diode designs, TTL compatible driver circuitry for accurate logic control and compact coaxial packages. All units are EAR99-compliant and meet a series of environmental conditions for altitude, vibration, humidity and shock.

"These new GaN PIN diode switches benefit from excellent thermal properties, power to volume ratio, and higher breakdown voltage that results in state-of-the-art power handling capability in small compact packages. Furthermore, we offer these new high power PIN diode switches off-the-shelf with same-day shipping," said Tim Galla, Product Line Manager.

Pasternack’s new high-power RF and microwave PIN diode switches are in-stock and available for immediate shipping with no minimum order quantity (MOQ) required.

For inquiries, Pasternack can be contacted at +1-949-261-1920.

About Pasternack:
A leader in RF products since 1972, Pasternack is an ISO 9001:2015 certified manufacturer and supplier offering the industry’s largest selection of active and passive RF, microwave, and millimeter wave products available for same-day shipping. Pasternack is an Infinite Electronics brand.

About Infinite Electronics:
Based in Irvine, Calif., Infinite Electronics offers a broad range of components, assemblies and wired/wireless connectivity solutions, serving the aerospace/defense, industrial, government, consumer electronics, instrumentation, medical and telecommunications markets. Infinite’s brands include Pasternack, Fairview Microwave, L-com, MilesTek, ShowMeCables, NavePoint, INC Installs, Integra Optics, PolyPhaser, Transtector, KP Performance Antennas, RadioWaves & Aiconics. Infinite Electronics serves a global engineering customer base with deep technical expertise and support, with one of the broadest inventories of products available for immediate shipment. 

Press Contact:
Peter McNeil 
Pasternack 
17792 Fitch 
Irvine, Calif. 92614 
(978) 682-6936

Photo – https://techent.tv/wp-content/uploads/2021/06/pasternack-unveils-new-high-power-rf-and-microwave-pin-diode-coaxial-packaged-switches.jpg
Logo – https://techent.tv/wp-content/uploads/2021/06/pasternack-unveils-new-high-power-rf-and-microwave-pin-diode-coaxial-packaged-switches-2.jpg

Related Links :

https://www.pasternack.com

PR Newswire

Recon Updates Progress on its Technology-Driven Solutions for Electric Submersible Progressing Cavity Pump with $5 Million Orders Secured

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BEIJING, June 11, 2021 — Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that its subsidiary, Beijing BHD Petroleum Technology Limited, signed two contracts with North China E&P Company (the "North China Branch") of China Petroleum & Chemical Corporation ("Sinopec"). Pursuant to these two contracts, the Company has provided technical service with ultra-deep electric submersible progressing cavity pump ("ESPCP") to one gas well at the Dongsheng Field of the Second Gas Production Plant (the "Plant No. 2") of the North China Branch and will provide the same service to another gas well at the Plant No. 2. Total amount of these two contracts is RMB 3,277,000 (approximately $0.51 million).

Management Statement

"We are extremely excited to make more breakthroughs in the ultra-deep submersible progressing cavity pump business," said Mr. Guangqiang Chen, founder and CTO of Recon, "Since last year when we signed a contract with the North China Branch and completed our first trial, we have now signed service contracts for RMB5.077 million (approximately $0.8 million) with the North China Branch for three gas wells. We are in the process of communicating with the North China Branch for ESPCP and related services for 15 more wells and expect to complete services by the end of calendar year 2021. Added together, we expect these services will bring us about $5 million of income."

Mr. Chen continued, "Beyond our own AI-based technology, we further integrated and upgraded downhole gas-liquid separation metering technology with equipment such as the ultra-deep screw pump from National Oilwell Varco Inc. (NYSE: NOV) and the downhole multi-parameter sensing devices from Power Max Petroleum Technologies Ltd, a Canada based company. We completed the construction for one gas well at Plant No. 2 with our comprehensive solution by April 16, 2021. According to our observation and testing for almost two months, the drainage and gas boosting effect has been stable, and the production status of the whole set of equipment has been reliable. Without this solution, submersible pumps used by oil companies generally have a working life cycle of only three months, after which time sand jams and equipment wear tend to result in interruption of gas well production. As a result, oil and gas companies incur costly inspection and repair fees. Our solution is expected to guarantee stable operation for more than one year, thus saving the high inspection and repair service costs, equipment and accessories replacement costs, electricity costs and sewage treatment costs. Taken together, our solution can help our clients increase their margin by up to 40%. We held an on-site technical exchange and promotion meeting with the North China Branch on May 20, 2021 and we were told that the North China Branch will promote our ultra-deep screw pump same well recovery and injection technology to all the new gas wells to be invested by the North China Branch. In the future, we plan to continue upgrading our technology in the same well recovery and injection business to provide more value-added services to our clients, and bring more long term returns to the Company."

About Recon Technology, Ltd

Recon Technology, Ltd (NASDAQ: Recon) is China’s first listed non-state owned oil and gas field service company on NASDAQ. Recon supplies China’s largest oil exploration companies, Sinopec (NYSE: SNP) and The China National Petroleum Corporation ("CNPC"), with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measure for increasing petroleum extraction levels, reducing impurities and lowering production costs. Through the years, Recon has taken leading positions on several segmented markets of the oil and gas filed service industry. Recon also has developed stable long-term cooperation relationship with its major clients. For additional information please visit: www.recon.cn.

Forward Looking Statements 

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, whether we will sign any additional contracts with the North China Branch, the final revenue from providing services to the North China Branch, actual results of our solutions in the field, levels of spending in our industry as well as consumer confidence generally; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 20-F, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

For more information, please contact:

Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd
Phone: +86 (10) 8494-5188
Email: info@recon.cn

Related Links :

http://www.recon.cn/

PR Newswire

China Unicom and ZTE conduct industry’s first commercial trial of Intelligent Radio Network Orchestration Solution

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SHENZHEN, China, June 11, 2021 — ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the mobile internet, and China Unicom have done a commercial trial of the industry’s first Intelligent Radio Network Orchestration Solution, with both user orchestration and network orchestration, in Dalian, China.

At the beginning of 2021, ZTE released the industry’s first Intelligent Orchestration Radio Network Solution, based on the ZTE’s vision and the work for 5G network development. Powered by base station native intelligence, this solution improves user experiences by virtue of user orchestration and network orchestration, meeting more diverse requirements of both B2B and B2C services.

The results show that user orchestration can achieve improvement in both 5G user experiences and 5G camping ratio. The uplink NR low-throughput user ratio is reduced by 50% while the handover delay is reduced by 50% and the 5G camping ratio is increased significantly. 

Furthermore, when 4G/5G dynamic spectrum sharing is on, the network orchestration can automatically adjust the spectrum configurations according to the traffic requirements. The average 5G user throughput is increased by 20%-130% adapting to spectrum configuration, while the 4G user number and traffic remain unaffected. This brings new possibilities to NR user experience improvement and O&M simplification in the 4G/5G dynamic spectrum sharing scenario.

To date, ZTE and China Unicom have made great progress in various innovation pilot fields.  For instance, ZTE won the ICT China 2020 Annual Excellent Solution Award for its trusted sharing solution based on the blockchain technology in the 5G RAN sharing scenario, and was rewarded the Best Practice Award for 5G Network and Terminal Coordination for its 5G low-altitude private network.

Moving forward, ZTE and China Unicom will collaborate further with each other in intelligent radio network orchestration from standards, products and services to facilitate research, development and commercial applications, aiming at building 5G networks with enhanced user experiences and network efficiency. 

Media Contacts:

Margaret Ma
ZTE Corporation
Tel: +86 755 26775189
Email: ma.gaili@zte.com.cn  

Related Links :

http://www.zte.com.cn

PR Newswire

TD Holdings, Inc. Announces Appointment of New CFO

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SHENZHEN, China, June 11, 2021 — TD Holdings, Inc. (the "Company" or "TD Holdings") (Nasdaq: GLG), a commodities trading service provider in China, today announced that Mr. Tianshi (Stanley) Yang has been appointed as the successor to Ms. Wei Sun to serve as the Chief Financial Officer ("CFO") and director of the Company’s Board of Directors, effective June 11, 2021. Ms. Wei Sun resigned from her roles in the Company on June 11, 2021.

Mr. Tianshi (Stanley) Yang served as the Head of Investor Relations of Aesthetic Medical International Holdings Group Ltd. (NASDAQ: AIH) from March 2020 to May 2021 and as the Financial Department Director of Meten EdtechX Education Group (NASDAQ: METX) from January 2019 to February 2020. From May 2016 to October 2018, Mr. Yang served as the Investment Director of China First Capital Group, a company listed on the Hong Kong Stock Exchange (HKEx: 01269). Mr. Yang has also served as a Senior Auditor at Ernst & Young from September 2011 to December 2013. Mr. Yang graduated from Tianjin University of Finance and Economics in Tianjin, China with a bachelor’s degree in Financial Engineering, and obtained a master’s degree in Finance from Brandeis University in Boston, U.S.

Ms. Renmei Ouyang, Chairwoman and Chief Executive Officer of TD Holdings, commented: "On behalf of the Board and the management team, I would like to thank Ms. Wei Sun for her tremendous efforts as the Chief Financial Officer of the Company and Director of the Board. At the same time, we warmly welcome Mr. Stanley Yang to join us and are confident that his demonstrated expertise, extensive experience and deep insight in the capital markets will be invaluable to the Company."

Mr. Stanley Yang, CFO of TD Holdings, stated, "I am delighted to join TD Holdings. I look forward to working closely with the management team to drive growth, profitability and create value for TD Holdings’ shareholders."

About TD Holdings, Inc.

TD Holdings, Inc. is a service provider currently engaging in commodity trading business and supply chain service business in China. Its commodities trading business primarily involves purchasing non-ferrous metal product from upstream metal and mineral suppliers and then selling to downstream customers. Its supply chain service business primarily has served as a one-stop commodity supply chain service and digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information, and futures trading. For more information please visit http://ir.tdglg.com.

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of TD Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." 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. 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. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company’s operations, the demand for the Company’s products and services, global supply chains and economic activity in general. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. 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 periodic reports that are filed with the Securities and Exchange Commission and available on its website at 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.

For more information, please contact:

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

Android, Mobile, News

Android 12 Beta 2 is Out Now! What is New?

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Android 12 is undoubtedly the most anticipated Android operating system (OS) to date. It is not too difficult to see why it gained its popularity. Despite all the excitement though, it will be a few months before we see Android 12 coming to Android smartphones in full force, especially smartphones that comes with manufacturer skins like Samsung.

If you cannot wait to try out the new interface though, you can always go ahead and work with the Beta version of Android 12. If you have a device that supports Android 12 Beta as well, you are in luck because Android 12 Beta 2 has just been released. On Android 12 Beta 2, you are also one step closer to working with the full Android 12 that is supposed to come in August 2021 or so. But what is new on the second Beta version of Android 12?

Privacy Dashboard

image2
Source: Google

Google talked about the Privacy Dashboard in their Google I/O 2021 keynote. Privacy is more important than ever in today’s world. Manufacturers and developers alike are putting more emphasis on privacy as well than ever. They are also giving more control and power ever to their users.

This Privacy Dashboard is one of them. It gives you more control and visibility over what hardware are being used by different apps and what access different apps have on your device. The dashboard can also help you understand the way and why apps need access to certain things on your device.

Mic and Camera Indicators

Smartphones are terrible at telling you that certain things on your smartphone is being used for something. While the Privacy Dashboard does add a little more control and transparency, it is also important to know when something is being accessed or used. It is especially true when it is your mic or camera that are being used. With the new indicators, users can easily and quickly find out which apps are accessing either the camera, or the microphone, or both in real-time. You can also easily and quickly bar the access of mic and camera in that case.

Mic and Camera Toggles

To completely block off any access to your Microphones and Cameras was virtually impossible on a modern smartphone before this. With Android 12, you now can. That feature is now available to play with in Android 12 Beta. You do have to go through some checks to see if your device supports the function or not. Once you turn off access to the mic and camera though, no apps can access both functions at all.

Clipboard Read Notification

Clipboards is naturally something we put out of our mind. It is the list or a collection of texts or things we copied from websites, notes, documents, and anything as such. Android 12 Beta now notifies you if the clipboard is being used in a particular app. A toast will appear at the bottom of the screen each time a clipboard item on another app is being accessed or read by the app you are currently using.

Simpler Connectivity Options

image1
Source: Google

The networking page and access has been completely redesigned on Android 12. One of the primary focus on Android 12 is its intuitiveness. They completely overhauled the network connection screen to do just that. You can now switch between their network providers and WiFi easily and quickly. The new Internet Panel also allow users to quickly troubleshoot network connectivity issues.

Android 12

Android 12 was announced, and its first Beta launched at Google I/O 2021. The new platform is expected to fully release by August 2021 onward and partnering manufacturers will release their own versions of Android 12 soon after. Google’s Android 12 also features one of the platform’s largest visual overhaul in its history. The platform now features something they call Material You in their design language. The UI is designed around more personalisation and more intuitiveness than ever. Find out more about Android 12 on our release write-up here, or you can also visit their website for more information on Android 12 Beta 2. At the same time, you can visit the Android 12 Beta devices page to find out if you have a compatible device.

PR Newswire

HKBN Takes My HKBN App Rewards Programme City-wide

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Sign up for weekly offers with “Infinite Rewards Thursday”

HONG KONG, June 11, 2021 — Hong Kong Broadband Network Limited ("HKBN")’s residential customers have long enjoyed an exciting array of exclusive perks and benefits on "My HKBN App", HKBN’s all-in-one rewards & services mobile app. Starting today, this privilege will be extended to all Hongkongers[1], as non-HKBN customers can now also sign up to My HKBN App and enjoy fabulous weekly "Infinite Rewards Thursday" offers and free HKBN services[2]. At the same time, existing customers who successfully refer new eligible users to use the app may join the "My HKBN App Referral Giveaway" campaign, for the chance to earn awesome rewards worth up to HK$20,000[3]!

Weekly "Infinite Rewards Thursday" offers for My HKBN App users

My HKBN App has always been a "go to hub" for a growing array of "Infinite Rewards" offers, discounts and even giveaways for its users, covering everything from fashion to dining, as well as special festive occasions. With its latest update, My HKBN App is adding a weekly-rotating "menu" of rewards for its users, whether or not they are HKBN customers, accessed simply by logging in the app, every Thursday[2]. The latest featured offers include:

Featured "Infinite Reward Thursday" Offers[4]
(Offers launched every Thursday)

Yummy choices

  • Hung Fook Tung – Traditional formula herbal tea HK$20/2 bottles, and year-round 20% off selected items 
  • Tai Hing – HK$20 discount upon HK$100 dinner dine-in
  • Café de Coral – Free upgrade to Latte or Cappuccino
  • Maxim’s Cakes – Disney Princess Diffuser special price HK$138 (Value HK$288)

Fashion

  • :CHOCOLATE, FIVE CM, i.t, double park, Mini Cream, MUSIUM DIV, ete! – 25% off selected regular-priced products and 15% off selected discounted products

Beauty and health

  • AUSupreme – Mother and baby care products up to 66% off, and premium health products buy 1 get 1 free
  • Eu Yan Sang – Year-round 10% off regular-priced products
  • BORGHESE – Fango Active Mud for Face and Body special price HK$68/piece (Original price HK$300/piece)

Lifestyle goods

  • Sing Tao Daily – Sing Tao E-paper free 2-month subscription
  • Stanford Swim School – Kids Swimming Trial Course special price HK$225/3 lessons (Original price up to HK$864)
  • City Hung Transportation – 10% off moving services and 35% off storage rental

 

Visit https://youtu.be/i0nTe7BFnZo for a learn more about the exciting rewards available in My HKBN App. Businesses interested in featuring their offers on "Infinite Rewards Thursday" are welcome to sign up here:
https://www.hkbnes.net/web/tc/promotions/details/2106-merchantrecruitres (Chinese only).

Earn greater rewards with more referrals

Besides taking advantage of these exciting weekly offers and handy account management functions via My HKBN App, existing HKBN residential customers can also earn generous referral rewards by joining a brand new "My HKBN App Referral Giveaway" campaign. From today till 13 August 2021, existing customers who successfully refer a minimum of three non-HKBN customers to register and login to My HKBN App will be eligible to receive exciting referral rewards including a KARA Smart Fitness Mirror with exclusive fat burning yoga programme by Coffee Lam, e-Cash Coupons for online shopping platform HOME+, plus vouchers for dining goods[3]. Rewards given out will be based on the cumulative number of referrals made, so refer more to earn better rewards! HOME+ HK$200 E-cash Coupons will also be rewarded both to eligible referees who successfully register and login to My HKBN App, as well as to the referrers[4]. For more details, visit www.hkbn.net/personal/home/en/downloadmyhkbn.

 "My HKBN App Referral Giveaway[4] Reward Details

HOME+ HK$200 E-cash Coupons will be rewarded both to eligible referees who successfully register and login to My HKBN App, as well as to the referrers.

 Earn greater rewards with more referrals[3]

Referral ranking

Rewards

The 1st – 25th winners

(Quota: 25)
  • KARA Smart Fitness Mirror – 24-mth fitness programme with exclusive fat burning yoga programme by Coffee Lam (value HK$18,750)
  • HK$500 HOME+ E-cash Coupons
  • HK$155 Pacific Coffee E-vouchers
  • HK$100 KFC E-vouchers

(Rewards value approx. HK$20,000)

The 26th – 125th winners

(Quota: 100)
  • HK$500 HOME+ E-cash Coupons
  • HK$155 Pacific Coffee E-vouchers
  • HK$100 KFC E-vouchers

 (Rewards value over HK$700)

The 126th – 1,125th winners

(Quota: 1,000)
  • HK$200 HOME+ E-cash Coupons
  • HK$155 Pacific Coffee E-vouchers
  • HK$50 KFC E-vouchers

(Rewards value over HK$400)

 

Elinor Shiu, Co-Owner and CEO – Residential Solutions of HKBN said, "As an established home-grown corporation, HKBN is always looking to deliver more value for our 1 million residential customers via win-win partnerships, including with our enterprise customers. One powerful way we’ve been doing that is via My HKBN App, a must-have app which gives users handy access to a unique array of exciting rewards, offers and freebies. Today, we’re thrilled to extend this privilege to the family and friends of our customers – by extension the Hong Kong public – and to invite more enterprise customers and merchant partners to join our rewards programme, such that millions more can enjoy their awesome products and services!"

Through My HKBN App, customers can easily upgrade or renew services, check mobile data usage and bills, refer friends, and redeem exclusive offers! Download My HKBN App at www.hkbn.net/personal/home/en/downloadmyhkbn today to start redeeming exciting offers and earn referral rewards with "My HKBN App Referral Giveaway"!

[1]My HKBN App is open for registration for users aged 18 or above.

[2] Free services only applicable to designated HKBN services and designated users. Availability of offers are limited while stocks last. Terms and conditions apply.

[3] Referral reward only eligible upon successful referral of at least 3 non-HKBN customers to use My HKBN App. Terms and conditions apply.

[4] Terms and conditions apply.

About Hong Kong Broadband Network Limited

Hong Kong Broadband Network Limited is part of HKBN Group ("HKBN" or the "Group"). Headquartered in Hong Kong with operations spanning across Asian markets like Hong Kong, Macau and mainland China, Singapore and Malaysia, the Group is a leading integrated telecommunications and technology services provider. Through three core brands, Hong Kong Broadband Network, HKBNES and HKBN JOS, the Group offers comprehensive one-stop Information and Communications Technology ("ICT") solutions that include broadband, data connectivity, cloud and data centre, managed Wi-Fi, business continuity services, system integration, cybersecurity, mobile services, roaming solutions, digital solutions, voice and collaboration, stationery and supplies that are cumulative to our one-stop-shop offering of Transformation as a Service (TaaS) and OTT entertainment. HKBN’s extensive tri-carrier fibre infrastructure covers over 2.4 million residential homes and over 7,400 commercial buildings and facilities across Hong Kong. Committed to creating a lasting positive impact to wherever it operates, HKBN embraces a core purpose to "Make our Home a Better Place to Live". The Group is managed by hundreds of Co-Owners (supervisory and management level Talents in the Group) who invested their savings to buy shares of HKBN Ltd. (SEHK Stock Code: 1310). For more information about Hong Kong Broadband Network Limited, please visit www.hkbn.net/en.

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PR Newswire

JungJin SEO from South Korea named EY World Entrepreneur Of The Year™ 2021

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– EY also honors His Royal Highness The Prince of Wales of the United Kingdom with inaugural Social Entrepreneurship Award

LONDON, June 11, 2021 — JungJin SEO, Honorary Chairman of South Korea-based Celltrion Group, was this evening named EY World Entrepreneur Of The Year™ 2021 during a virtual awards ceremony broadcast live around the world. JungJin was picked from among 45 award winners from 38 countries and territories competing for the global award. He is the first winner from South Korea in the award’s 21-year history.


JungJin, 63, founded Celltrion, a biopharmaceutical firm, in 2003 with only US$45,000. In the nearly 20 years since its founding, Celltrion has lived up to its ambition to advance health and welfare for all by developing groundbreaking drugs to treat autoimmune diseases, different forms of cancer and, most recently, COVID-19. The company, which JungJin started with five of his colleagues, has grown to more than 2,100 employees with sales permits in more than 90 countries and revenues exceeding US$1.69b.

His Royal Highness (HRH) The Prince of Wales first recipient of the EY Social Entrepreneurship Award

This evening, EY also honored HRH The Prince of Wales, of the United Kingdom, with an inaugural EY Social Entrepreneurship Award. This award was given in recognition of the tremendous social value created by The Prince of Wales’ leading initiatives, including The Prince’s Trust and Business in the Community, the exciting progress of the bold, global Sustainable Markets Initiative and this year’s unveiling of the Terra Carta, which provides a road map toward putting nature, people and planet at the heart of global value creation over the next decade. The new award will remain an annual feature and was established to recognize leaders who are focused on creating a purposeful business in society.

Carmine Di Sibio, EY Global Chairman and CEO, says:

"After a year of incredible challenges, I’m excited to be able to recognize these two remarkable individuals for their contributions to society. Throughout his life, His Royal Highness has demonstrated an unwavering commitment to building a better world and I couldn’t envision a more worthy honoree for the inaugural EY Social Entrepreneurship Award.

"Likewise, JungJin SEO has spent his career representing everything an unstoppable entrepreneur should be. From taking on the world’s biggest health care challenges to consistently creating long-term value for his company, JungJin is a model EY World Entrepreneur Of The Year winner. Congratulations to both on their worthy distinctions."

Rosaleen Blair CBE, Founder and Chair of AMS, and Chair of the EY World Entrepreneur Of The Year judging panel, says:

"The judging panel is honored to award JungJin with this prestigious title and recognize him following one of the most trying years the world has ever seen. The panel was moved by his incredible journey and his purpose-driven leadership, innovative mindset and entrepreneurial spirit are the embodiment of an unstoppable entrepreneur."

JungJin SEO, Honorary Chairman, Celltrion Group, says:

"Entrepreneurship to me has always been about bringing together a group of people toward a common vision, embracing challenges as opportunities and committing oneself to contribute to the greater good. When I first started, my vision was to help patients gain access to safe, effective and affordable medicines and thereby enhance the quality of people’s lives. The success of Celltrion has enabled me to expand on this while finding new ways to fuel my entrepreneurial drive. I am humbled and honored to join the prestigious group of EY World Entrepreneur Of The Year winners who came before me and I intend to use this wonderful platform to continue to make this world a better place for future generations."

Stasia Mitchell, EY Global Entrepreneurship Leader, says:

"JungJin’s story is one of incredible tenacity and perseverance. He’s taken breathtaking risks, both personal and professional, to found Celltrion and grow it into one of the world’s leading biopharmaceutical companies. His passion for creating affordable, life-saving health care and flair for tackling global problems has led to many treatments that have helped millions of people worldwide and was especially evident this past year through the creation of a COVID-19 antibody treatment. Above all, JungJin’s story is a shining example of the power of an unstoppable entrepreneur to change the world."

About JungJin SEO, Honorary Chairman of Celltrion Group

JungJin’s entrepreneurial journey started at an early age when he worked as a taxi driver to get himself through Konkuk University in Seoul, South Korea. After studying industrial engineering, he rose through the ranks of Daewoo Motor Co. until he suddenly lost his job amid the automaker’s financial troubles following the 1997 Asian economic crisis.

In the years that followed, JungJin would collaborate with colleagues to explore business opportunities in numerous industries, many of which seemed promising at the time but failed to deliver lasting success. Finally, after attending a discussion hosted by several renowned scholars, he decided to focus on the biopharmaceutical sector, believing that it had the potential to be the next great growth engine.

With this inspiration in mind, he founded Celltrion with only US$45,000. Despite its humble beginnings, the company would quickly become a leading force in the South Korean pharmaceutical industry. The launch of Remsima, the "world’s first" antibody biosimilar, quickly moved Celltrion up the ranks of the country’s relatively underdeveloped pharmaceutical sector. Celltrion followed this success with the launch of drugs for breast cancer and lymphoma that are now used worldwide.

With a focus on being "the world’s first," Celltrion has pioneered numerous uncharted areas to stellar success over the past two decades. Most recently, it responded to the global pandemic by successfully developing an antibody treatment for COVID-19 and works to ensure a timely supply of the safe and effective treatment.

About the judging panel

The independent judging panel was chaired by Rosaleen Blair CBE, Founder and Chair of AMS. Joining her were:

  • Girish Jhunjhnuwala, Founder and CEO, Ovolo Hotels
  • Susan Chong, Founder and CEO, Greenpac Pte Ltd.
  • Hernan Kazah, Co-Founder and Managing Partner, Kaszek Ventures
  • Noëlla Coursaris Musunka, Founder and CEO, Malaika
  • Alexey Repik, Founder and Chairman, R-Pharm
  • Dr. Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Limited
  • Brad Keywell, CEO, Uptake Technologies, Inc.

Broadcast coverage and high-resolution content are available here for download for broadcast and online use.

About EY

EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation is available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

About EY Entrepreneur Of The Year™

EY Entrepreneur Of The Year™ is the world’s most prestigious business awards program for unstoppable entrepreneurs. These visionary leaders deliver innovation, growth and prosperity that transform our world. The program engages entrepreneurs with insights and experiences that foster growth. It connects them with their peers to strengthen entrepreneurship around the world. EY Entrepreneur Of The Year is the first and only truly global awards program of its kind. It celebrates entrepreneurs through regional and national awards programs in more than 145 cities in over 60 countries. Winners go on to compete for the EY World Entrepreneur Of The Year™ title. ey.com/eoy

Eric Minuskin

Yvonne Diaz

EY Global Media Relations

EY Global Media Relations

+1 908 770 9758

+44 (0)799 056 0615

eric.j.minuskin@ey.com

yvonne.diaz@uk.ey.com

  


  

 

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