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PR Newswire

Lotus Robotics Designated by Leading Automakers to License its Intelligent Driving Solutions

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NEW YORK and SINGAPORE, Sept. 10, 2023 /PRNewswire/ — Lotus Technology Inc. (“Lotus Tech” or the “Company”), a leading global luxury electric vehicle maker, announced today that its intelligent driving arm, Lotus Robotics, has been designated to license several leading automakers to provide them with its intelligent driving technology and software. The announcement demonstrates the R&D prowess that is driving the growth of Lotus Tech’s technology-related revenues as the Company executes its Vision80 business transformation strategy.

Lotus Robotics has advanced software capabilities and develops key intelligent driving algorithms, as well as testing and simulation tools. Its self-developed intelligent driving systems are used in all of the Company’s luxury lifestyle electric vehicles, including Eletre, its first fully electric hyper SUV, which began deliveries globally in March this year, and Emeya, its first electric hyper-GT, which was unveiled in New York on September 7. These vehicles feature innovative technologies, such as the world’s first deployable LiDAR system, and are fully embedded with best-in-class hardware that supports end-to-end intelligent driving solutions across scenarios ranging from highway, urban, to parking, which are expected to be integrated into the vehicles as premium functions through over-the-air updates.

Mr. Qingfeng Feng, Chief Executive Officer of Lotus Tech, said, “We’re glad to see Lotus Robotics’ cutting-edge technologies being applied beyond our own luxury electric vehicles as we join our peers in advancing the development of intelligent driving solutions. These partnerships demonstrate Lotus Tech’s technology-related growth potential and further Lotus’s transformation under its Vision80 strategy into an intelligent, all-electric provider of sustainable luxury mobility ahead of its 80th anniversary in 2028.”

Lotus’s intelligent driving research and development commenced in 2018, and is committed to building the best platform for advanced intelligent driving technologies. Lotus Robotics has developed best-in-class hardware, award-winning algorithms and software, and powerful cloud solutions supported by its teams across Germany and China. Lotus Robotics has won awards in world-class competitions, including the CVPR 2023 Online HD Map Construction Challenge and the 2022 Argoverse Motion Forecasting Competition.

As announced in January 2023, Lotus Tech entered into a definitive agreement and plan of merger (the “Merger Agreement”) with L Catterton Asia Acquisition Corp (“LCAA”) (NASDAQ: LCAA), a special purpose acquisition company formed by affiliates of L Catterton, a leading global consumer-focused investment firm. The transactions contemplated by the Merger Agreement are expected to be completed later this year and would result in Lotus Tech becoming a public company with a pro forma enterprise value of approximately US$5.6 billion.

About Lotus Technology

Lotus Technology Inc., headquartered in Wuhan, China, has operations across China, the UK, and the EU. The Company is dedicated to delivering luxury lifestyle battery electric vehicles, including SUVs and sedans, with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation and more. For more information about Lotus Technology Inc., please visit www.group-lotus.com.

About L Catterton Asia Acquisition Corp

L Catterton Asia Acquisition Corp (NASDAQ: LCAA) is a blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. While it may pursue an initial target business in any industry or sector, it has focused its search on high-growth, consumer technology sectors across Asia. For more information about L Catterton Asia Acquisition Corp, please visit www.lcaac.com.

About L Catterton

L Catterton is a market-leading consumer-focused investment firm, managing approximately $34 billion of equity capital and three multi-product platforms: private equity, credit and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer brands. For more information about L Catterton, please visit lcatterton.com.

Forward-Looking Statements

This press release (the “Press Release”) contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, that are based on beliefs and assumptions and on information currently available to Lotus Tech and LCAA. All statements other than statements of historical fact contained in this Press Release are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by LCAA and its management, and Lotus Tech and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of definitive agreements with respect to the proposed Business Combination between LCAA, Lotus Tech and the other parties thereto (the “Business Combination”); (2) the outcome of any legal proceedings that may be instituted against LCAA, the Combined Company or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the amount of redemption requests made by LCAA public shareholders and the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of LCAA, to obtain financing to complete the Business Combination or to satisfy other conditions to closing and; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of the Company as a result of the announcement and consummation of the Business Combination; (7) the ability 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, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination; (9) risks associated with changes in applicable laws or regulations and Lotus Tech’s international operations; (10) the possibility that Lotus Tech or the Combined Company may be adversely affected by other economic, business, and/or competitive factors; (11) Lotus Tech’s estimates of expenses and profitability; (12) Lotus Tech’s ability to maintain agreements or partnerships with its strategic partner Geely Holding and to develop new agreements or partnerships; (13) Lotus Tech’s ability to maintain relationships with its existing suppliers and strategic partners, and source new suppliers for its critical components, and to complete building out its supply chain, while effectively managing the risks due to such relationships; (14) Lotus Tech’s reliance on its partnerships with vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (15) Lotus Tech’s ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from lithium-ion battery cells catching fire or venting smoke; (16) delays in the design, manufacture, launch and financing of Lotus Tech’s vehicles and Lotus Tech’s reliance on a limited number of vehicle models to generate revenues; (17) Lotus Tech’s ability to continuously and rapidly innovate, develop and market new products; (18) risks related to future market adoption of Lotus Tech’s offerings; (19) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (20) Lotus Tech’s reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Lotus Tech by its partners in order for Lotus Tech to be able to increase its vehicle production capacities; (21) risks related to Lotus Tech’s distribution model; (22) the effects of competition and the high barriers to entry in the automotive industry, and the pace and depth of electric vehicle adoption generally on Lotus Tech’s future business; (23) changes in regulatory requirements, governmental incentives and fuel and energy prices; (24) the impact of the global COVID-19 pandemic on LCAA, Lotus Tech, Lotus Tech’s post business combination’s projected results of operations, financial performance or other financial metrics, or on any of the foregoing risks; and (25) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in LCAA’s final prospectus relating to its initial public offering (File No. 333-253334) declared effective by the SEC on March 10, 2021, and other documents filed, or to be filed, with the U.S. Securities and Exchange Commission (the “SEC”) by LCAA or Lotus Tech, including the Registration/Proxy Statement (as defined below). There may be additional risks that neither LCAA nor Lotus Tech presently know or that LCAA or Lotus Tech currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved in any specified time frame, or at all, or that any of the contemplated results of such forward-looking statements will be achieved in any specified time frame, or at all. The forward-looking statements in this Press Release represent the views of LCAA and Lotus Tech as of the date they are made. While LCAA and Lotus Tech may update these forward-looking statements in the future, LCAA and Lotus Tech specifically disclaim any obligation to do so, except to the extent required by applicable law. You should not place undue reliance on forward-looking statements.

Additional Information

In connection with the proposed Business Combination, (i) Lotus Tech will file with the SEC a registration statement on Form F-4 containing a preliminary proxy statement of LCAA and a preliminary prospectus (the “Registration/Proxy Statement”), and (ii) LCAA will file a definitive proxy statement relating to the proposed Business Combination (the “Definitive Proxy Statement”) and will mail the Definitive Proxy Statement and other relevant materials to its shareholders after the Registration/Proxy Statement is declared effective. The Registration/Proxy Statement will contain important information about the proposed Business Combination and the other matters to be voted upon at a meeting of LCAA shareholders to be held to approve the proposed Business Combination. This Press Release does not contain all the information that should be considered concerning the proposed Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination.

Before making any voting or other investment decisions, securityholders of LCAA and other interested persons are advised to read, when available, the Registration/Proxy Statement and the amendments thereto and the Definitive Proxy Statement and other documents filed in connection with the proposed Business Combination, as these materials will contain important information about LCAA, Lotus Tech and the Business Combination. When available, the Definitive Proxy Statement and other relevant materials for the proposed Business Combination will be mailed to shareholders of LCAA as of a record date to be established for voting on the proposed Business Combination. Shareholders will also be able to obtain copies of the Registration/Proxy Statement, the Definitive Proxy Statement and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to: LCAA, 8 Marina View, Asia Square Tower 1, #41-03, Singapore 018960, attention: Katie Matarazzo.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Participants in the Solicitation

LCAA and Lotus Tech, and certain of their directors and executive officers, may be deemed participants in the solicitation of proxies from LCAA’s shareholders with respect to the proposed Business Combination. A list of the names of those directors and executive officers and a description of their interests in LCAA is set forth in LCAA’s filings with the SEC (including LCAA’s final prospectus related to its initial public offering (File No. 333-253334) declared effective by the SEC on March 10, 2021), and are available free of charge at the SEC’s web site at www.sec.gov, or by directing a request to LCAA, 8 Marina View, Asia Square Tower 1, #41-03, Singapore 018960, attention: Katie Matarazzo. Additional information regarding the interests of such participants and other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the proposed Business Combination will be contained in the Registration/Proxy Statement for the proposed Business Combination when available.

No Offer and Non-Solicitation

This Press Release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of LCAA or Lotus Tech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

Contact Information

For inquiries regarding Lotus Tech
Demi Zhang
ir@group-lotus.com

Brunswick Group
Lotustechmedia@brunswickgroup.com

For inquiries regarding LCAA and/or L Catterton
Julie Hamilton (U.S.)
media@lcatterton.com
+1 203 742 5185

Bob Ong / Bonnie Gan (Asia)
bob.ong@lcatterton.com / bonnie.gan@lcatterton.com 
+65 6672 7619 / +86 10 8555 1807

PR Newswire

Exiger Announces Capgemini Will Acquire its FCC Advisory Division as Exiger Continues to Accelerate and Focus the Scaling of its Third Party Risk and Supply Chain Management Technology Business

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WASHINGTON, Sept. 9, 2023 /PRNewswire/ — Exiger, the SaaS company revolutionizing the way corporations, government agencies and banks manage supply chains, today announced that it has signed an agreement with Capgemini, a leading business and technology transformation services company, for the sale of its market-leading Financial Crime Compliance (FCC) division. The transaction is due to close in the coming months.

Exiger Announces Capgemini Will Acquire its Financial Crime Compliance (FCC) Advisory Division as Exiger Continues to Accelerate and Focus the Scaling of its Third Party Risk and Supply Chain Management Technology Business
Exiger Announces Capgemini Will Acquire its Financial Crime Compliance (FCC) Advisory Division as Exiger Continues to Accelerate and Focus the Scaling of its Third Party Risk and Supply Chain Management Technology Business

This comes at a time when Exiger is experiencing accelerated growth and penetration in the third-party risk and supply chain management software market.

Founded in 2013, the FCC division of Exiger comprises a team of experts with offices in North America, EMEA and APAC. This team specializes in advisory, analytics and managed services relating to anti-money laundering, Know Your Customer (KYC), anti-bribery & corruption, suspicious activity monitoring, sanctions, transaction monitoring, and fraud. Exiger’s client roster is highly complementary to Capgemini’s and includes major players in banking, capital markets and fintechs.

“This sale marks an enormous milestone in the evolution and growth of Exiger,” said Exiger CEO Brandon Daniels. “Capgemini’s acquisition allows us to focus on our core third-party risk and supply chain management technology business, reinforcing our strength, market leadership and accelerated growth. As we continue to invest in cutting edge AI solutions for our customers across the public and private sectors, we’re thrilled that our market-leading advisory team will be able to continue the next leg of their growth journey with such a distinct leader in their space.”

“Financial crime compliance requirements are evolving at pace so financial institutions are looking to adopt data driven, technology enabled solutions to support their end-to-end FCC transformation,” comments Anirban Bose, CEO of Capgemini’s Financial Services and Group Executive Board Member. “The deep domain expertise of the FCC Division of Exiger will help us to further address growing client demand for these services. I am delighted to welcome them to our team.”

TD Cowen served as exclusive financial advisor and Dechert LLP served as legal counsel to Exiger on the transaction.

About Exiger
Exiger is revolutionizing the way corporations, government agencies and banks navigate risk and compliance in their third-parties, supply chains and customers through its software and tech-enabled solutions. Exiger’s mission is to make the world a safer and more transparent place to succeed. Emboldening its 550 customers across the globe, including 150 in the Fortune 500 and over 50 government agencies, with award-winning AI technology, Exiger leads the way in ESG, cyber, financial crime, third-party and supply chain management. Its work has been recognized by 40+ AI, RegTech and Supply Chain partner awards.  Learn more at Exiger.com and follow Exiger on LinkedIn.

Contact:
Kody Gurfein
Chief Marketing Officer for Exiger
1.914.393.0398
kgurfein@exiger.com

Exiger CEO Brandon Daniels: “Capgemini’s acquisition allows us to focus on our core third-party risk and supply chain management technology business, reinforcing our strength, market leadership and accelerated growth. As we continue to invest in cutting edge AI solutions for our customers across the public and private sectors, we’re thrilled that our market-leading advisory team will be able to continue the next leg of their growth journey with such a distinct leader in their space.”
Exiger CEO Brandon Daniels: “Capgemini’s acquisition allows us to focus on our core third-party risk and supply chain management technology business, reinforcing our strength, market leadership and accelerated growth. As we continue to invest in cutting edge AI solutions for our customers across the public and private sectors, we’re thrilled that our market-leading advisory team will be able to continue the next leg of their growth journey with such a distinct leader in their space.”
PR Newswire

MicroCloud Hologram develops ChatGPT holographic virtual digital human technology

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BEIJING, Sept. 9, 2023 /PRNewswire/ — MicroCloud Hologram Inc. (NASDAQ: HOLO) (“HOLO” or the “Company”), a Hologram Digital Twins Technology provider, today announced the development of a holographic virtual digital human based on ChatGPT (GereratePre-Training) generative pre-training model, adopted in speech processing, through the use of large amounts of training data to simulate human language behavior, and through grammar and semantic analysis, generate human-understandable text. It can provide accurate and appropriate responses based on context and context, and simulate a variety of emotions and tones. In this way, users can feel a more real and natural dialogue experience when interacting with digital virtual people.

Through AI intelligent speech recognition, speech synthesis, natural language understanding and other technologies, HOLO’s Digital Human adopts ChatGPT generative pre-training model, so that virtual digital people can understand and realize human-computer interaction experience with emotion. Through deep learning and training of artificial intelligence, the accuracy of speech recognition and sentiment analysis is constantly improved. The training process of holographic virtual human voice interaction is very complicated and requires a lot of computing resources and data. During training, the model constantly learns various rules and patterns of the language and is able to make semantic understanding based on context. The advantage of ChatGPT is that it can generate very natural and fluent language and is able to understand complex language structures and patterns. It is also capable of generating high-quality text based on a given text, and is capable of simulating human-like conversations and answers, making the voice expression of holographic virtual digital people more natural.

The voice interaction of holographic virtual digital human needs a powerful high-quality knowledge graph library, which needs to be accumulated through a large number of long-term speech training models, which will be an important direction of future research and development. HOLO R&D team has also done a lot of research and development work in this direction, using artificial intelligence data annotation technology, can achieve a large amount of data accumulation.

Holographic virtual digital people are attached to dialogue-based products and carriers, and their future development space is broad. HOLO’s ChatGPt-based holographic virtual digital people can be applied to many fields, such as virtual human content creation, virtual human customer service, games, social networking, education, family care and other fields.

In the field of 2C, it can be applied to games, entertainment and cultural media to create holographic virtual digital human IP matrix, and holographic virtual digital human application scenarios are wide, such as short video, games, network literature and other digital content ecology. At present, holographic virtual digital people have been applied in the live broadcasting industry. With the development of online live broadcasting industry, virtual anchors have become a new popular role with their perfect human design, appearance and voice, which contributes to the development of the holographic virtual digital people industry and is also one of the models for the commercialization of holographic virtual digital people.

The development of virtual digital human industry involves many technical fields, including AI technology, real-time rendering technology, 3D modeling technology and motion capture technology. In addition to constructing a variety of holographic virtual human IP matrix, AI technology, real-time rendering technology, 3D modeling technology and motion capture technology are applied to develop the intelligent and scene-oriented development of holographic virtual human. With the prosperity and development of pan-entertainment ecology, holographic virtual digital characters will appear in more online scenes such as music platforms, games, and live broadcasts.

In the 2B field, holographic virtual digital human customer service and live delivery of goods achieve 24-hour online service. With the progress of technology, the function of holographic virtual digital people is no longer limited to meeting the entertainment needs of the public, and the application of B-side scenarios is also constantly expanding. In the future, virtual digital people will gradually penetrate marketing, government affairs, banking, real estate and other fields, and service-oriented functions will be highlighted to help enterprises achieve cost reduction and efficiency, and the holographic virtual digital people industry will develop in the direction of scale and social services. At present, virtual digital people are still in the primary stage of artificial intelligence. Identity and functional virtual digital people in the virtual customer service, virtual shopping guide, virtual tour guide, virtual anchor, e-commerce live broadcast and other industries slowly began to land, the future application prospects are very broad.

In the future, people may be able to see the figure of holographic virtual digital people in multiple industries, and holographic virtual digital people services can bring people a sense of freshness, and can overcome some space and time factors to achieve multi-scene services.

About MicroCloud Hologram Inc.

MicroCloud Hologram Inc. (NASDAQ:HOLO) engages in the research and development, and application of holographic technology. MicroCloud Hologram provides its holographic technology services to its customers worldwide. MicroCloud Hologram also provides holographic digital twin technology services and has a proprietary holographic digital twin technology resource library. MicroCloud holographic digital twin technology resource library captures shapes and objects in 3D holographic form by utilizing a combination of holographic digital twin software, digital content, spatial data-driven data science, holographic digital cloud algorithm, and holographic 3D capture technology. MicroCloud Hologram technology services include holographic light detection and ranging (LiDAR) solutions based on holographic technology, holographic LiDAR point cloud algorithms architecture design, technical holographic imaging solutions, holographic LiDAR sensor chip design, and holographic vehicle intelligent vision technology to service customers that provide holographic advanced driver assistance systems (ADAS).

Safe Harbor Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release, as well as the Company’s strategic and operational plans, contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable laws.

Source: MicroCloud Hologram Inc.

PR Newswire

mirrorboard Launches AI Stock Image Global Service, ‘Recipe-p’

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SAN FRANCISCO, Sept. 9, 2023 /PRNewswire/ — mirrorboard corp., an AI startup, announced on the 4th of September that it has successfully launched ‘Recipe-p,’ a stock image service using generative AI technology.


 Recipe-p is a second-generation AI stock image service created to solve the problems of the traditional stock image market, offering a library of over 100,000 AI stock images for free. Furthermore, Recipe-p regularly updates its AI stock images based on user preferences through its in-house developed AI model engine.

 The commercial stock image market is already widely used but poses a significant burden on users due to high costs and license expiration issues. Even with free stock image services, the images are often duplicated and used by millions worldwide, making it challenging to find unique images. Recipe-p has tackled these issues by providing life-like images using generative AI technology. AI stock images generated based on user input are unique, ensuring that users can access distinctive visuals. Currently, Recipe-p offers over 100,000 AI stock images and has gained popularity with over 2,000 sign-ups on its launch day alone.

The service currently focuses on offering portrait photos and plans to expand into various categories such as animals, objects, nature, and landscapes. Additionally, Recipe-p will provide editing features like AI content creation, inpainting, resizing, and upscaling.

Tae-Hyung Yu and Hae-Chan Moon, co-founders of mirrorboard which is a member company of Born2Global Centre, stated, “AI technology is about creating equal opportunities for more people,” and expressed their commitment to enhancing the accessibility and convenience of AI stock image usage through Recipe-p, ultimately transforming the global stock image market.

PR Newswire

CGTN: Regional economic integration promotes China-ASEAN common prosperity

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BEIJING, Sept. 8, 2023 /PRNewswire/ — Themed “ASEAN Matters: Epicentrum of Growth,” the 43rd Association of Southeast Asian Nations (ASEAN) Summit concluded on Friday in Jakarta, Indonesia, with a series of positive outcomes.

Deepening ASEAN-China cooperation would benefit people on both sides, said Secretary-General of ASEAN Kao Kim Hourn on Thursday.

Regional economic integration

Addressing the 26th China-ASEAN Summit on Wednesday, Chinese Premier Li Qiang urged China and the ASEAN countries to enhance connectivity, deepen cooperation on industrial and supply chains, strive to complete in 2024 the negotiations on the China-ASEAN Free Trade Agreement (ACFTA) 3.0 and steadily advance regional economic integration.

During the 26th ASEAN Plus Three Summit, Li noted that in June this year, the Regional Comprehensive Economic Partnership (RCEP) entered into full effect, which brought new opportunities for regional economic integration.

“We need to further bring out the potential of the agreement, boost the free flow of factors, and expand and upgrade our trade and investment. We need to advance our comprehensive, mutually beneficial and high-quality economic partnership, and move toward an integrated regional market that is more open and vibrant,” he said.

China has proposed to accelerate ASEAN-China Free Trade Area 3.0 Upgrade Negotiations and strives to conclude negotiations in 2024, according to a list of China’s cooperation initiatives for the ASEAN-related summits.

The Version-3.0 China-ASEAN FTA will bring tangible benefits to local residents, said Shi Zhongjun, secretary-general of the ASEAN-China Center, adding that the unilateralist, protectionist policies pursued by some countries outside the region have had certain impact on cooperation in the Asia-Pacific region, including that between China and ASEAN.

Belt and Road cooperation

During the 26th China-ASEAN Summit, a joint statement was issued on mutually beneficial cooperation between the Belt and Road Initiative (BRI) and the ASEAN Outlook on the Indo-Pacific.

China welcomes the active participation of ASEAN countries in the third Belt and Road Forum for International Cooperation, Li said on Wednesday.

Under the BRI cooperation framework, China and ASEAN have enhanced cooperation on infrastructure and regional cooperation.

The China–Laos railway had made a total of 20.09 million passenger trips as of April 16, with the section of the railway within China handling 17.09 million passenger trips and that outside China handling three million passenger trips since it went into operation in December 2021, according to data from China Railway.

The Sihanoukville Special Economic Zone, a BRI flagship project in Cambodia, has become the Southeast Asian country’s largest industrial zone, accommodating up to 175 factories so far.

Fruitful cooperation results

During the China-ASEAN Summit, a series of outcome documents were adopted, including a joint statement on deepening agricultural cooperation between China and ASEAN, an action plan on China-ASEAN green agricultural development (2023-2027), an initiative on enhancing bilateral e-commerce cooperation and an initiative on jointly implementing a China-ASEAN science and technology innovation enhancement program.

Data from China’s Ministry of Commerce showed that the trade volume between China and ASEAN reached $975.3 billion in 2022, up 11.2 percent year on year and surging by 120 percent from the level of 2013.

As of the end of July, the cumulative two-way investment exceeded $380 billion, and China had set up more than 6,500 enterprises with direct investment in ASEAN.

The past decade also saw ASEAN become China’s top trading partner in 2020, surpassing the European Union and the U.S.

“Looking ahead, I think ASEAN-China bilateral trade will increase three fold in the next 20 years, and the investment will increase accordingly,” said Djauhari Oratmangun, Indonesian ambassador to China.

https://news.cgtn.com/news/2023-09-08/Regional-economic-integration-promotes-China-ASEAN-common-prosperity–1mW7i3aFKlW/index.html

PR Newswire

Give away a Year of Beauty and Happiness for Free – Indonesia’s No.1 coocaa TV Collaborates with YOU Beauty

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JAKARTA, Indonesia, Sept. 8, 2023 /PRNewswire/ — coocaa TV, the No.1 selling TV brand in Indonesia, has become immensely popular by consistently delivering superior products and services to the Indonesian people. With local factories in Indonesia, coocaa ensures localized production, and its intimate warranty service has improved consumers’ satisfaction and happiness. That’s why coocaa can rank No. 1 position. To enhance consumers’ quality of life, coocaa TV has partnered with YOU, a beauty brand. coocaa and YOU cater to young trend-aware consumers with shared health values. Both brands also prioritize the importance of health concepts. coocaa emphasizes providing Indonesian users with top-notch image quality and healthy eye care. YOU, on the other hand, specializes in scientific skincare methods, emphasizing long-term results and inner skin health. This collaboration aims to offer top-notch products and services that bring beauty and joy to customers.

“BEAUTY LIFE WITH NO.1” is the theme of this collaboration, hosted primarily on Shopee. This event offers exciting rewards and surprises to customers. The most anticipated prize is the chance to win 40 units of the No.1 coocaa TV through a lucky draw. Whether buyers shop at YOU’s official Shopee store or visit their offline outlets, they have the opportunity to win this amazing prize.The previous coocaa TV mid-year promotion in July, which gave away 70 televisions, received widespread acclaim. Apart from the coveted TV prizes, purchasing coocaa TV on Shopee also offers You products and the chance to win a year’s supply of YOU beauty products. NO.1 coocaa TV and NO.1 YOU will provide all with beauty and joy for a whole year!

Beauty Life With NO.1——coocaa TV & YOU
Beauty Life With NO.1——coocaa TV & YOU

The 50Y72 Google TV is the hero product of the collaboration. This TV is equipped with advanced features that cater to the needs of modern consumers, including Google TV integration, voice control, low blue light, and professional eye-care technology certified by TUV Rheinland. For more information, please visit: https://bit.ly/44PTjFm

The cross-industry collaboration between coocaa TV and YOU not only showcases coocaa TV’s position as the industry leader but also brings unexpected beauty and joy to a wider audience. Experience a year of beauty and joy with YOU and coocaa TV. Don’t miss this opportunity to enrich the TV viewing experience and enhance the beauty routine. Embark on this exciting journey!

PR Newswire

Prime Focus Technologies will showcase vendor-agnostic CLEAR® AI Platform for unparalleled speed and flexibility at IBC 2023

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LOS ANGELES, Sept. 8, 2023 /PRNewswire/ — Prime Focus Technologies (PFT) is thrilled to showcase its purpose-built CLEAR® AI Platform for the Media and Entertainment (M&E) industry at IBC 2023. This represents a seismic shift in providing enterprises with a readily deployable, vendor-agnostic AI Platform, complete with AI modules and integrations, to accelerate their enterprise AI strategy with speed and innovation. 

“The goal of the CLEAR® AI Platform is “making AI development accessible to all.” It will empower enterprises with rapid in-house AI development and productization,” stated Murali Sridhar, Senior Vice President and Head of Product Management at Prime Focus Technologies. “Enterprises can achieve a substantial acceleration of at least two years in reaching their AI objectives, from conceptualization to realization.”  

This Platform empowers users with advanced features, an intuitive user interface (UI), pre-configured optimizations, and industry-leading third-party AI integrations. It provides the flexibility for organizations to adopt multi-vendor AI solutions, accelerating their AI journey. A key component is Machine Wisdom, a patented technology that blends AI capabilities from various providers, boosting accuracy and simplifying its integration into specific M&E workflows. It seamlessly incorporates cutting-edge AI models for video, audio, image, text, and Generative AI processing.

Key features & benefits of CLEAR® AI Platform:

Flexibility to innovate with no exclusive dependency on one vendor:
The CLEAR® AI Platform allows enterprises to combine AI from various providers and in-house developed AI engines to solve specific business use cases. This approach fosters independence and will enable businesses to diversify their AI resources, mitigating risks associated with vendor exclusivity. Enterprises also have the option to connect any new third-party engines of their choice and quickly integrate them into the Platform. This enables them to create new visualizations, expose APIs, and accelerate innovation by switching on/off the engines used.

Elegant UI for data visualization and insights:
The CLEAR® AI Platform has an intuitive UI for visualizing data and insights, seamlessly adaptable to M&E workflows. This UI offers meaningful representations of AI-generated data and provides the necessary tools to employ this data in real-world M&E use cases effectively.

Smart optimizations, best for run-time deployments:
The CLEAR® AI Platform comes equipped with smart optimizations that utilize existing data and generate AI data only when necessary. This will deliver maximum cost savings on a run-time basis.   

Cloud-scale Ready:
It leverages highly optimized cloud technologies to create, test, and deploy cost-efficient AI solutions, including just-in-time scaling and minimal overheads. This approach guarantees rapid processing speeds and smooth handling of workload bursts, all while maintaining optimal cost management on the cloud.

Metering and Analytics:
The Platform incorporates detailed metering capabilities per workflow, service, and per-function basis. This empowers users to gain valuable insights into AI-related cost allocations, optimization opportunities, and enhanced control over their AI usage.

Security:
The Platform has enterprise-grade security features tailored for M&E organizations. It includes built-in capabilities for user management, administration, file management, and more right out of the box.

Consulting and Services:
The Platform comes with a choice to use consulting services that allow enterprises to leverage our high-caliber AI team. These experts can collaborate with your in-house teams to foster innovation in AI integrations, create new AI models, oversee Machine Learning operations, design custom user interfaces, integrate Generative AI, and deliver timely engineering support.  

If you are building AI, consider leveraging the CLEAR® AI Platform alongside our team or your own. This robust, finely tuned, and scalable Platform is ready to integrate into your ecosystem seamlessly.   

Join us at IBC 2023 for a demo of the CLEAR® AI Platform. To arrange a meeting with us, click here. We are at stand Hall 3, C23.     

PFT has recently secured its third distinctive non-adjacent US Patent for AI-enabled Scene Detection following rigorous inspections with the US Patent and Trademark Office (US PTO), with four more patents pending grant.

About Prime Focus Technologies

Prime Focus Technologies (PFT) is the creator of CLEAR® and CLEAR® AI. It offers streaming platforms, studios, and broadcasters transformational AI-led technology and media services powered by the cloud that help them lower their Total Cost of Operations (TCOP) by automating their content supply chain. PFT works with major companies like Walt Disney-owned Star TV, Channel 4, ITV, Sinclair Broadcast Group, A&E Networks, Warner Media, PBS, CBS Television Studios, 20th Century Fox Television Studios, Lionsgate, Showtime, HBO, NBCU, TERN International, Disney+ Hotstar, BCCI, Indian Premier League and more.

For more information, visit: www.primefocustechnologies.com.  

Press Contact:
T Shobhana
Senior Vice President and Global Head of Marketing
Prime Focus Technologies
Los Angeles, CA
t.shobhana@primefocus.com

PR Newswire

Dow Jones and Cision Unveil Exclusive Global Content Partnership for the PR and Corporate Communications Market

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 New Agreement Empowers Reputation Management and Strategic Communication Agendas Worldwide

CHICAGO and NEW YORK, Sept. 7, 2023 /PRNewswire/ — Cision, the leading provider of consumer and media intelligence and communications solutions, has entered into a long-term agreement to distribute Dow Jones content to Public Relations and Corporate Communications (PRCC) professionals. This new partnership, which is structured to become an exclusive agreement between Dow Jones and Cision, brings together the most trusted news and cutting-edge technology to help PRCC customers manage brand reputation, monitor business-critical topics and advance global communication strategies.

Dow Jones’s authoritative journalism, including The Wall Street Journal, Barron’s, MarketWatch, Investor’s Business Daily and Dow Jones Newswires, is now fully integrated into Cision’s media intelligence platforms, with rollouts to broader Cision and Brandwatch portfolios expected soon. Users of Cision’s premium platforms will also receive digital subscriptions to Dow Jones’s world-class publications.

Additionally, Cision will integrate select content from the Factiva business intelligence solution into its platforms, offering customers the ability to monitor and analyze content from thousands of licensed sources globally.

“Together with Dow Jones, we’re excited about the unlimited potential we have to innovate and support industry leaders in the fast-moving world of news and information,” said Cali Tran, Cision CEO. “The heart of our mission is to empower our customers with a better understanding of their position within the market and to give them the insight they need to shape effective strategies with confidence, ensuring relevance and visibility.”

“This partnership reinforces Dow Jones’s commitment to provide the most trusted news, data and analysis to help people make decisions,” said Almar Latour, CEO of Dow Jones and publisher of The Wall Street Journal. “By joining forces with Cision, we’re expanding the reach of our business news and information that meets our audiences where they are while also furthering our investment in unique, high-quality journalism.”

Cision’s commitment to data partnerships extends to the world’s largest and smallest publishers and social platforms, ensuring industry leaders get a full and accurate view of the news, trends and conversations impacting the valuations of the brands and organizations they lead. The addition of Dow Jones’s premium publications to its global content collection will provide customers with access to quality, trustworthy news to streamline media monitoring and inform decision making.

Under the agreement, Cision will also have the unique ability to partner directly with and sublicense Dow Jones content to other software providers and approved resellers in the PRCC market. Additionally, the two companies will work to align their complementary assets and capabilities to provide unique value for PRCC customers through a joint roadmap of product innovation and co-creation.

To learn more visit cision.com/dowjones.

About Cision
Cision is the leading provider of consumer and media intelligence and communications solutions, enabling public relations, marketing, social media, and communications professionals around the world to understand their consumers, influence outcomes and amplify their stories. As the market leader, Cision’s award-winning brands and technology enable Marketing and Communications leaders to manage and shape their brands in today’s rapidly evolving world. Cision has offices in 24 countries through the Americas, EMEA and APAC, and offers a suite of best-in-class solutions, including PR Newswire, Brandwatch Consumer Research, and CisionOne. To learn more visit www.cision.com, www.brandwatch.com and www.prnewswire.com.

About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest news-gathering operations globally. It is home to leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Barron’s, MarketWatch, Mansion Global, Financial News, Investor’s Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, OPIS and Chemical Market Analytics. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).

Contact Information:
For media inquiries, please contact:
Cision Public Relations
cision@kcsa.com

Louise Goodenday
louise.goodenday@dowjones.com 

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Source: Cision Ltd.

PR Newswire

BRI’s Ultra-Micro Holding Continues Sustainable Financing for 36 Million Customers

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JAKARTA, Indonesia, Sept. 7, 2023 /PRNewswire/ — PT Bank Rakyat Indonesia (BRI) Persero Tbk. (IDX: BBRI), PT Pegadaian and PT Permodalan Nasional Madani (PNM) have been jointly advancing sustainable financing practices in Indonesia’s ultra-micro segment through the Ultra-Micro (UMi) Holding. This initiative aligns with the core themes of the ASEAN Indo-Pacific Forum (AIPF) on 5-6 September 2023, in Jakarta, Indonesia, with a focus on ESG (Environmental, Social and Governance) principles.

BRI's Ultra-Micro Holding Continues Sustainable Financing for 36 Million Customers
BRI’s Ultra-Micro Holding Continues Sustainable Financing for 36 Million Customers

Sunarso, BRI’s President Director, highlighted that Ultra Micro Holding (UMi) integrated over 36 million loan customers and 162 million micro-savings customers into its network, supported by 1,013 SENYUM (Ultra-Micro Service Centers) in Q2 2023. “BRI’s focus is to uplift business actors, embarking on a structured and systematic journey in a unified ecosystem.”

BRI’s approach to integrating the ultra-micro ecosystem involves three phases. First, they implement the “Empowering People” strategy led by PNM to educate ‘unbankable’ businesses. The “Integration” phase provides loan options to ultra-micro entrepreneurs through BRI and Pegadaian. Lastly, BRI concentrates on “Scaling-up Businesses,” enabling ultra-micro segments to transition to micro, micro to small, and small enterprises to medium size.

The UMi Holding has empowered 76 thousand financial advisors, comprising of agents from BRI and PNM Mekaar, and Pegadaian’s marketing personnel. BRI’s micro and ultra-micro credit have grown by 11.4%, reaching IDR 578 trillion. “We are employing a “Go Smaller” strategy to target even smaller segments with shorter and more digitally streamlined processes to meet their needs for a faster and cost-efficient approach,” added Sunarso.

To enhance financial inclusion, the UMi Holding introduces the SenyuM Mobile application to accelerate customer acquisition and serve as a unified digital hub for BRI, Pegadaian, and PNM.  The app has been adopted by over 69,000 individuals from the three entities and utilized by more than 300,000 BRILink and Pegadaian agents. To simplify operations and ensure security, the UMi Holding is spearheading a cashless ecosystem.

BRI also offers a digital banking super app, BRImo, enriched with over 100 features. BRImo’s user growth has exceeded 1 million users monthly. As of June 2023, the user base reached more than 27.8 million, marking a 50.6% Year-on-Year (YoY) increase. Additionally, the transaction value soared to IDR 1,377.6 trillion, reflecting an 89.6% YoY surge.

More information about BRI at www.bri.co.id.

PR Newswire

Vault Creation, a South Korea etching company, has completed preparations for mass-producing 500ppi FMM for mobile

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Achieving a resolution of 500ppi with proprietary technology and having completed initial setup of a production equipment for mass production

SEOUL, South Korea, Sept. 7, 2023 /PRNewswire/ — Korean dry etching specialized company, Vault Creation Co., Ltd., has announced that it will start selling FMM for smartphones with a resolution of 500ppi, which is an essential component of mobile displays, to demand companies and research institutes that need it from September 1, 2023.

copyright(c) Vault Creation All rights reserved
copyright(c) Vault Creation All rights reserved

Until now, FMM-related companies worldwide have invested astronomical resources exclusively in Japan to develop high-resolution FMM for smartphones. However, it is true that encountered technical limitations without providing practical results.

In this situation, Vault Creation, a South Korea company, which announced its entry into the market, has a golden opportunity to reshape the global FMM industry. As a venture established less than a decade ago in South Korea, Vault Creation has succeed in implementing the world’s best resolution after seven years of research and showed its amazing ability to build mass production facilities in a short time.

FMM(Fine Metal Mask) is a mask used to form Red(R), Green(G), and Blue(B) subpixels in small and medium-sized OLED panels and is a key material in the OLED deposition process. The microring mirroring is uniform and cross-sectional angles, step height, and location precision are required because the deposited organic matter serves as a major component that allows precise deposition only in the TFT(Thin Film Transistor) pixel area. No defects, such as appearance deformation, imprinting, clogging, or sticking, are allowed.

Accordingly, FMM-related companies around the world, including Korea, Mainland China, Japan, and Taiwan have invested heavily in the development of high-resolution FMM using methods like wet or electroplating etching. However, up until now, no company has succeeded in achieving mass production for the market, and supplying or selling to demand sources was simply not possible. This situation has led to complete dependence on Japan for FMM.

Especially, FMM for OLED used in smartphone panel production has been produced by companies such as TOPPAN in Japan and Darwin in Taiwan. However, in practice, a Japanese company DNP(Dai Nippon Printing) has effectively monopolized the global market for OLED FMM.

Since 2015, Vault Creation has developed its own ‘Ion Beam Dry Etching Technology’ to secure global intellectual property and completed FMM development 2 years ago using a low-temperature process, and until recently, it has been confirmed that it has advanced technology for mass production.

The ion beam dry etching technology developed by Vault Creation stands out from another etching process like wet etching or electroplating. It allows etching without damaging the material and leaves no residual impurities. Moreover, using the advantages of dry etching, they claim to be able to manufacture according to the specifications of customers in terms of etching angles and shapes, as required.

CIPO(STEVE JAY) has announced the official start of sales stating, “Until now, the only company capable of providing FMM for the high-resolution market worldwide was Japan’s ‘DNP’. Over the past 7years, we have completed technological development that can diversify this exclusive market and we are fully prepared for mass production to supply 500ppi FMM to any company in need. The supply price can also be offered much more affordably than before, so we encourage all global demand companies to inquire anytime.“

A representative from the display industry said, “Currently, high-resolution FMM production can only be produced in Japan globally. As a result, many companies had problems in the research and development of displays because the supply is limited and not smooth. If the mass production volume of Vault Creation comes to the market, it is expected that much research and development will be activated in the VR and AR industries as well as the research and development of existing high-resolution displays.

Currently, Vault Creation is accepting orders through its website.

* FMM order and contact E-MAIL : fmm@vaultcreation.com

copyright(c) Vault Creation All rights reserved
copyright(c) Vault Creation All rights reserved