Tag Archives: ECM

PR Newswire

Alibaba Group’s Daraz Acquires Leading Bangladesh Food Tech Startup HungryNaki to Expand Footprint in South Asia

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  • Alibaba-owned Daraz acquires HungryNaki in a move that welcomes the e-commerce giant into the booming Asian food delivery sector
  • This marks the first full acquisition of a local Bangladesh startup by a global e-commerce company, and allows HungryNaki to scale the hyperlocal delivery scene by tapping into Daraz’s complex infrastructure, technology and resources

DHAKA, Bangladesh, March 18, 2021 — Daraz, a subsidiary of Alibaba Group and Bangladesh’s largest e-commerce marketplace, has announced its acquisition of HungryNaki, the country’s leading homegrown food tech company. This marks the first full acquisition of a local Bangladesh startup by a global e-commerce giant, adding to the overall growth of the Asian startup ecosystem and indicating a shift in confidence towards South Asia, regarding investment and business.

The acquisition was signed with the aim of expanding Daraz’s service offerings across more South Asian markets, while providing HungryNaki with the longstanding expertise and experience in customer service and management that Alibaba Group and Daraz will bring to the table. In order to achieve this, HungryNaki will continue functioning as an independent brand under the group, lending its strong client, customer and logistics network while tapping on Daraz’s sophisticated infrastructure countrywide.

"We aspire to be a one stop solution for all our customers’ needs, and getting into the food delivery business is a natural move. HungryNaki is the pioneer in the food delivery business in Bangladesh with a loyal customer base. We believe, instead of building our own food delivery business from the ground up, acquiring HungryNaki is ideal considering these two factors. We believe, by investing in the infrastructure, technology and human resources, we can take HungryNaki into new heights," said Syed Mostahidal Hoq, Managing Director of Daraz.

A Significant Milestone For South Asia’s Startup Ecosystem and Economy

In recent times, Bangladesh has seen remarkable success in the country’s development and digital transformation, including an above average GDP growth rate of 8%. Contributing to a huge slice of the pie is the hyperlocal food and grocery delivery sector, which is expected to grow to over $5 billion by 2025.

Founded in 2013 by co-founders Ahmad AD, Tausif Ahmad and Sazid Rahman, HungryNaki (to mean "Are you hungry?") is Bangladesh’s first food tech company to introduce on-demand food delivery in under an hour. It has played a monumental role in the evolution of the market, making food delivery accessible to as many people in the country as possible. The rapid expansion of the country and industry, helmed by homegrown technology and startups such as HungryNaki, signifies huge opportunities for South Asia in terms of development, employment and innovation.

"We can definitely say that this is an auspicious moment for all of us because this acquisition by Daraz proves that our e-commerce industry is in an optimistic state. Moreover, this is a positive sign for other local startups, and this kind of acquisition will play a full part in the revival of our economy by expediting positive impacts. We will be working with Daraz to make HungryNaki a formidable player in the market," shared AD Ahmad, CEO and Co-Founder of HungryNaki.

Since its inception, HungryNaki has served more than 500,000 customers and over 4,000 restaurants across Bangladesh’s 5 largest cities, including Dhaka, Chattogram, Sylhet, Cox’s Bazar and Narayanganj. With an investor pool including notable names such as Robintex Group and Asif Rahman, the initially bootstrapped startup had previously raised a total of $2.3 million in funding, including its pre-Series A round and bridge financing, and has since successfully maintained a consistent 76% return user order ratio, which ensures a steady year-on-year growth in revenue of 70-90%.

Being the first food delivery startup in Bangladesh to introduce electric bicycles to its fleet, HungryNaki is also committed to the race towards zero carbon emissions, in order to reduce the company’s carbon footprint and scale in a sustainable manner. Leveraging its existing and new business and partnership networks, including restaurants, cloud kitchens and home kitchen services, HungryNaki will be working towards expanding its reach to over 100 cities, and becoming a crucial player in developing the hyperlocal delivery scene in South Asia.

PR Newswire

China Customer Relations Centers, Inc. Enters into Definitive Merger Agreement for Going Private Transaction

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TAI’AN, China, March 12, 2021 — China Customer Relations Centers, Inc. (Nasdaq: CCRC) (the "Company"), a leading e-commerce and financial services business process outsourcing ("BPO") service provider in China, today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with Taiying Group Ltd. ("Parent") and Taiying International Inc. ("Merger Sub"), a wholly-owned subsidiary of Parent.

Pursuant to the Merger Agreement, Parent will acquire the Company for a cash consideration equal to US$6.50 per share of the Company (each, a "Share"). This amount represents a premium of 37.7% over the Company’s closing price of US$4.72 per Share on November 27, 2020, the last trading day prior to November 30, 2020, the date that the Company announced it had received a "going-private" proposal, and a premium of 37.8% to the volume-weighted average closing price of the Company’s Shares during the 60 trading days prior to November 30, 2020. This amount also represents an increase of approximately 21.0% over the US$5.37 per Share initially offered by the buyer group in their initial "going-private" proposal on November 27, 2020.

Immediately following the consummation of the merger, Parent will be beneficially owned by a group of rollover shareholders, including Mr. Zhili Wang, the chief executive officer and chairman of the Board and director of the Company, Mr. Debao Wang, the chief financial officer of the Company, Mr. Guoan Xu, director and Vice President of the Company, Mr. Qingmao Zhang, Mr. Long Lin, Mr. Jishan Sun and certain other shareholders of the Company (collectively, the "Buyer Group").

As of the date of the Merger Agreement, the Buyer Group beneficially owns, in the aggregate, approximately 71.1 % of the outstanding Shares of the Company.

Subject to the terms and conditions of the Merger Agreement, at the effective time of the merger, Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and a wholly-owned subsidiary of Parent, and each of the Shares (issued and outstanding immediately prior to the effective time of the merger will be cancelled and cease to exist in exchange for the right to receive US$6.50 per Share, in cash, without interest and net of any applicable withholding taxes, except for (a) Shares beneficially owned by the Buyer Group, (b) Shares owned by Parent, Merger Sub, the Company (as treasury, if any) or any of their respective subsidiaries immediately prior to the effective time, (c) Shares reserved (but not yet allocated) by the Company for settlement upon exercise or vesting of any option to purchase the Shares granted under the Company’s 2018 Share Incentive Plan on or prior to the date of closing whether or not such option has become vested on or prior to the date of closing in accordance with the Company’s 2018 Share Incentive Plan immediately prior to the effective time, and (d) Shares owned by shareholders who have validly exercised and have not effectively withdrawn or lost their dissenter rights under the BVI Business Companies Act which will be cancelled and each holder thereof will be entitled to receive only the payment of the fair value of such Shares in accordance with the BVI Business Companies Act.

The Company’s board of directors, acting upon the unanimous recommendation of the special committee formed by the board of directors (the "Special Committee"), approved the Merger Agreement, and resolved to recommend that the Company’s shareholders vote to authorize and approve the Merger Agreement and the merger. The Special Committee, which is composed solely of independent directors of the Company who are unaffiliated with Parent, Merger Sub or any member of the Buyer Group or management of the Company, exclusively negotiated the terms of the Merger Agreement with the Buyer Group with the assistance of its independent financial and legal advisors.

The merger which is currently expected to close in the second quarter of 2021, is subject to various closing conditions, including a condition that the Merger Agreement be authorized and approved by a resolution approved by the affirmative vote of a majority of the votes of the Shares entitled to vote thereon in respect of which the shareholders holding the Shares were present at the extraordinary general meeting of the shareholders or an adjournment thereof in person or by proxy and being Shares in respect of which the votes were voted in accordance with the BVI Business Companies Act and the memorandum and articles of the Company. Pursuant to a rollover and support agreement entered among the Buyer Group and Parent, the Buyer Group has agreed to vote all the Shares beneficially owned by it in favor of the authorization and approval of the Merger Agreement and the merger. If completed, the merger will result in the Company becoming a privately-owned company wholly owned directly by Parent, its Shares will no longer be listed on The Nasdaq Capital Market.

Parent has entered into a debt commitment letter pursuant to which China Merchants Bank Co., Ltd. has agreed to provide a secured term facility for the merger, subject to certain conditions.

The Company will prepare and file with the U.S. Securities and Exchange Commission (the "SEC") a Schedule 13E-3 transaction statement, which will include a proxy statement of the Company. The Schedule 13E-3 will include a description of the Merger Agreement and contain other important information about the merger, the Company and the other participants in the merger.

Houlihan Lokey (China) Limited is serving as financial advisor to the Special Committee; Hogan Lovells is serving as U.S. legal counsel to the Special Committee.

Commerce & Finance Law Offices is serving as legal counsel to the Buyer Group.

Additional Information about the Merger

In connection with the proposed merger, the Company will prepare and mail a proxy statement that will include a copy of the Merger Agreement to its shareholders. In addition, certain participants in the proposed merger will prepare and mail to the Company’s shareholders a Schedule 13E-3 transaction statement that will include the Company’s proxy statement. These documents will be filed with or furnished to the SEC. INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE MATERIALS AND OTHER MATERIALS FILED WITH OR FURNISHED TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED MERGER AND RELATED MATTERS. In addition to receiving the proxy statement and Schedule 13E-3 transaction statement by mail, shareholders also will be able to obtain these documents, as well as other filings containing information about the Company, the proposed merger and related matters, without charge, from the SEC’s website (http://www.sec.gov) or at the SEC’s public reference room at 100 F Street, NE, Room 1580, Washington, D.C. 20549. In addition, these documents can be obtained, without charge, by contacting the Company at the following address and/or phone number:

1366 Zhongtianmen Dajie,
Xinghuo Science and Technology Park, High-tech Zone,
Taian City,
Shandong Province, 271000,
People’s Republic of China
+86-538-691-8899

The Company and certain of its directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be "participants" in the solicitation of proxies from its shareholders with respect to the proposed merger. Information regarding the persons or entities who may be considered "participants" in the solicitation of proxies will be set forth in the proxy statement and Schedule 13E-3 transaction statement relating to the proposed merger when it is filed with the SEC. Additional information regarding the interests of such potential participants will be included in the proxy statement and Schedule 13E-3 transaction statement and the other relevant documents filed with the SEC when they become available.

This announcement is neither a solicitation of proxy, an offer to purchase nor a solicitation of an offer to sell any securities and it is not a substitute for any proxy statement or other materials that may be filed or furnished with the SEC should the proposed merger proceed.

About China Customer Relations Centers, Inc.

The Company is a leading e-commerce and financial services BPO service provider in China focusing on the complex, voice-based and online-based segments of customer care services, including:

  • customer relationship management;
  • technical support;
  • sales;
  • customer retention;
  • marketing surveys; and
  • research.

The Company’s service is currently delivered in Provinces of Shandong, Jiangsu, Liaoning, Guangdong, Yunnan, Hubei, Sichuan, Hebei, Anhui, Xinjiang, Guangxi, Jiangxi, Heilongjiang, and Chongqing. More information about the Company can be found at: www.ccrc.com.

Safe Harbor Statements

Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. The Company undertakes no ongoing obligation, other than that imposed by law, to update these statements.

For further information, please contact

Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1-718-213-7386

PR Newswire

LightInTheBox Holding Co., Ltd. to Report Fourth Quarter and Full Year 2020 Financial Results on Friday, March 19, 2021

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BEIJING, March 12, 2021 — LightInTheBox Holding Co., Ltd. (NYSE: LITB) ("LightInTheBox" or the "Company"), a cross-border e-commerce company that delivers products directly to consumers around the world, today announced that it will release its unaudited financial results for the fourth quarter and full year ended December 31, 2020 before the open of U.S. markets on Friday, March 19, 2021.

LightInTheBox’s management will hold a conference call to discuss the results at 8:00 a.m. Eastern Time on March 19, 2021 (8:00 p.m. Beijing Time on the same day).

Due to the outbreak of COVID-19, operator assisted conference calls are not available at the moment. All participants wishing to attend the call must preregister online before they can receive the dial-in numbers.

Preregistration Information

Participants can register for the conference call by navigating to http://apac.directeventreg.com/registration/event/9031746. Once preregistration has been complete, participants will receive dial-in numbers, an event passcode, and a unique registrant ID.

To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the event passcode followed by your unique registrant ID, and you will be joined to the conference instantly.

A telephone replay will be available two hours after the conclusion of the conference call through March 26, 2021. The dial-in details are:

US/Canada:

+1-855-452-5696

Hong Kong:

800-963-117

International:

+61-2-8199-0299

Passcode:

9031746

Additionally, a live and archived webcast of the conference call will be available on the Company’s Investor Relations website at http://ir.lightinthebox.com.

About LightInTheBox Holding Co., Ltd.

LightInTheBox is a cross-border e-commerce platform that delivers products directly to consumers around the world. The Company offers customers a convenient way to shop for a wide selection of products at attractive prices through its www.lightinthebox.com, www.miniinthebox.com, www.ezbuy.com and other websites and mobile applications, which are available in 25 major languages and cover more than 140 countries.

For more information, please visit www.lightinthebox.com.

Investor Relations Contact

Christensen
Ms. Xiaoyan Su
Tel: +86 (10) 5900 1548
Email: ir@lightinthebox.com

OR

Christensen
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

Related Links :

http://ir.lightinthebox.com/

PR Newswire

Leju to Report Fourth Quarter and Full Year 2020 Financial Results on March 26, 2021

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BEIJING, March 12, 2021 — Leju Holdings Limited ("Leju" or the "Company") (NYSE: LEJU), a leading e-commerce and online media platform for real estate and home furnishing industries in China, today announced that it will report its unaudited financial results for the fourth quarter and full year ended December 31, 2020 before the U.S. markets open on March 26, 2021.

Leju’s management will host an earnings conference call on March 26, 2021 at 7 a.m. U.S. Eastern Time (7 p.m. Beijing/Hong Kong Time).

Please register in advance of the conference using the link provided below and dial in 10 minutes prior to the call, using participant dial-in numbers, Direct Event passcode and unique registrant ID which would be provided upon registering. You will be automatically linked to the live call after completion of this process, unless required to provide the conference ID below due to regional restrictions.

PRE-REGISTER LINK: http://apac.directeventreg.com/registration/event/9117658  

CONFERENCE ID: 9117658

A replay of the conference call may be accessed by phone at the following number until April 3, 2021:

U.S./International:

+1-855-452-5696

Hong Kong:           

800-963-117

Mainland China:    

400-632-2162

Passcode:               

9117658

Additionally, a live and archived webcast will be available at http://ir.leju.com.

About Leju

Leju Holdings Limited ("Leju") (NYSE: LEJU) is a leading e-commerce and online media platform for real estate and home furnishing industries in China, offering real estate e-commerce, online advertising and online listing services. Leju’s integrated online platform comprises various mobile applications along with local websites covering more than 380 cities, enhanced by complementary offline services to facilitate residential property transactions. In addition to the Company’s own websites, Leju operates the real estate and home furnishing websites of SINA Corporation, and maintains a strategic partnership with Tencent Holdings Limited. For more information about Leju, please visit http://ir.leju.com.

For investor and media inquiries, please contact:

Ms. Christina Wu
Leju Holdings Limited
Phone: +86 (10) 5895-1062
E-mail: ir@leju.com

Philip Lisio
Foote Group
Phone: +86 135-0116-6560
E-mail: phil@thefootegroup.com

PR Newswire

Singapore-based Thor Group achieves positive earnings for both Q4 2020 and Q1 2021 with unique two-pronged business model

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Thor Group emerges as a new dark horse in entertainment sector in Asia Pacific.

SINGAPORE, March 12, 2021 — Thor Group growing prominence in SEA and South Asia’s entertainment sector has yielded the two-year-old firm positive earnings for both the fourth quarter of 2020 and the first quarter of 2021. The company says it owes the success to its innovative business model combining scenario-based consumption and merchandising operations by precisely targeting consumers based on their scenario-specific consumption habits.

Thor’s product lines span three sectors that are going through a substantial amount of transformation in the Southeast and South Asian markets: gaming, finance and e-commerce. In 2020, the company experienced accelerated growth and expanded into a number of emerging markets, including Bangladesh, Egypt, India, Pakistan, the Philippines, Thailand and Vietnam, by providing consumers there with products that meet their evolving expectations. The approach served to deliver profits over the past two quarters.

Thor Group has built its success on its outstanding assets, including the founding team, whose members have each made significant contributions to company growth. The multinational founding team includes members from France, Hong Kong, India, mainland China and Taiwan. The operations and R&D units bring together young professionals from around the world who have extensive experience in global business operations and have previously held positions at numerous listed international firms encompassing a wide array of sectors across the internet, social and gaming spheres. Thor is backed by Blackfish Technology, a leading membership-based e-commerce platform with broad experience in online shopping. Notably, at an early stage of development, Blackfish Technology had received USD 100 million in investment from a number of established institutional investors, among them, Lightspeed Venture Partners, Lightspeed China Partners, Rakuten Ventures, 5Y Capital (formerly known as Morningside Venture Capital), JAFCO Asia, Gobi Partners, China Growth Capital and Axpfund.com.

Company head Frank Lee said, "Thor Group, headquartered in Singapore and incubated by Blackfish’s management team and investors, attributes its success to the founding team who had created a new business model and increased the company’s revenue sources by expanding its channels and user base through capitalizing on the market trends in the mobile internet era. With a growing team of professionals and the continuous improvement in the industry chain over the past few years, the firm plans to roll out a cross-border ecommerce platform targeting European users in the second quarter of 2021. This is in line with the company’s long-term development strategy and also represents a strategic change that it has made to embrace the new consumption trends in international markets."

Looking forward, Thor Group seeks to create a diversified global brand incubation center by leveraging its two-pronged business model: scenario-based consumption and merchandising operations, coupled with its key competitiveness in international finance, technology, gaming and e-commerce, with the aim of further enhancing its international competitiveness.  

PR Newswire

Spring Sales March Expo Lets Buyers Meet Chinese Suppliers In Real-Time Without Travel

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NANJING, China, March 8, 2021 — Made-in-China.com, China’s leading comprehensive third-party B2B e-commerce platform, is hosting a massive virtual sourcing event, the Spring Sales, from March 1 to March 31, 2021 accessible via its website and mobile app.

With global travel still restricted, the Spring Sales provides buyers worldwide the timely opportunity to meet 50,000 registered suppliers in real-time.

During the free month-long event, registered members of Made-in-China.com are offered special filter functions, live showroom tours and exclusive discounts. Orders can be placed both on the platform and directly with suppliers.

No matter your product offering, chances are you’ll find them this month on Made-in-China.com. You can choose from 300,000 new products, covering almost every category, including consumer electronics, tools and machinery, clothing, accessories, jewelry, home decor and other specialty merchandise.

Rest assured regarding the quality of products with over 15,000 free samples available before placing an order. Moreover, there are more than 22,000 Rapid Dispatch products available shipped within 15 workdays after placing your order.

Newly integrated smart "Tags" makes filtering through the products easier than ever. Every product is tagged with various labels such as ‘Special Discount’, ‘Free Samples’, ‘Sold 10000+’ and others.

The grand expo, China International Export Fair, will also be held from March 15 to March 24 alongside the Spring Sales. Multiple advanced technologies of VR, 360 virtual tour, face-to-face online meetings, real-time language translation, and AR special features will provide a reassuringly real participation experience and support negotiations with suppliers.

Spring Sales is more than just deals, important as that is. It is a month of discovery giving you access to more than 600 selected showrooms round-the-clock livestreams. Attendees will witness more than 200 new product launches, visit more than 100 factories, and watch more than 300 out-of-box reviews. Made-in-China.com will also showcase how leading factories cooperate with the world’s leading companies and also equip you with free professional trend analysis on the machinery industry.

So, before you jump in, please create a plan of action. What products are you looking for? What industry news do you want to get? Do you sell seasonal goods to take advantage of the Rapid Dispatch Tag? Planning what you need ahead of time will make the ordering process much quicker, smoother and more efficient.

For more information about Made-in-China.com’s Spring Sales, please visit:

website: https://sourcing.made-in-china.com/2021-spring-sales/?utm_source=overnews&utm_medium=free&utm_campaign=PR

mobile version:

https://m.made-in-china.com/buyer/pf/index?utm_source=overnews&utm_medium=free&utm_campaign=PR

Related Links :

http://Made-in-China.com

PR Newswire

Suning Wins Award for Massive Nationwide Poverty Alleviation Efforts

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NANJING, China, Feb. 26, 2021 — Suning Group ("Suning"), one of the leading commercial enterprises in China, was given the National Group for Poverty Alleviation Award during the National Poverty Alleviation Commendation Conference held at the Great Hall of the People in Beijing on February 25. The ceremony recognized both notable individuals and enterprises for their poverty alleviation efforts.

"Representing China’s private enterprises, Suning is honored to play a role in the important fight against poverty," said Zhang Jindong, Chairman of Suning. "We look forward to reaping the results of rural revitalization, together as one country."

In recent years, Suning has leveraged its advantages in corporate resources, channels, platforms, and data, fully engaging in targeted poverty alleviation initiatives and facilitating cooperation between China’s eastern and western regions. As the first Chinese private company to sign a poverty alleviation strategy agreement with the State Council’s Leading Group Office of Poverty Alleviation and Development, Chairman Zhang has spearheaded the establishing of the Jiangsu Private Companies for Targeted Poverty Alleviation Fund.

Suning has also established a dedicated poverty alleviation office with more than 1,000 full-time personnel in order to implement its comprehensive poverty alleviation strategy, rooted in the pillars of reducing consumption, employment, education, and donation-related poverty.

Thus far, Suning has donated more than RMB 2.3 billion to targeted poverty alleviation and rural revitalization, with RMB 850 million going towards special initiatives. At the ceremony, the State Council’s Leading Group Office of Poverty Alleviation and Development awarded Suning with the National Group for Poverty Alleviation Award, while Chairman Zhang was given the National Poverty Alleviation Contribution Award. Meanwhile, Suning won the China Charity Award, the highest recognition in the field, for the sixth time, after previously winning for other poverty alleviation efforts.

Helping bring China one step closer to poverty eradication

Suning has donated funds and equipment to 388 impoverished counties across more than 20 provinces, including Yunnan, Sichuan, Guizhou, Xinjiang, and Shaanxi. The company has built 170 Suning bridges, 160 Suning Dream Centers, 73 Suning school buildings, 20 roads, and countless other public welfare projects. Moreover, its charity football program covers over 300 schools, while its Dream Caravan-Suning project to bring learning to students across the country has already reached 60 schools, carrying out dozens of educational courses.

Suning has also set its sights on activating the rural market by bringing it online. It has opened more than 7,000 retail cloud stores and created channels to help farmers sell their goods via digital product pavilions. Cumulative sales have topped RMB 14 billion, benefiting more than 10,000 poverty-stricken villages and coming to the aid of over 500,000 households.

Meanwhile, the company has also launched 116 poverty alleviation training centers across 111 hard-hit counties, resulting in the employment of more than 6,000 people. The average annual income of trainees has increased from RMB 42,000 to RMB 50,000, while the centers have led to an increase of nearly RMB 400 million in agricultural product sales.

Given the close ties between rural revitalization and targeted poverty alleviation, Suning has launched the 521 Plan for Rural Revitalization, a public welfare strategy for the next decade. The plan seeks to establish 5,000 Suning villages, 2,000 Suning pavilions, and 100,000 Suning retail cloud stores across China’s rural areas.

Suning has also strengthened its effort for a national initiative launched to facilitate poverty alleviation through consumption. The company has established a task force to promote a nationwide month-long pro-consumption campaign and leverage its online and offline channels to boost sales of products from poor areas, with Suning.com also establishing a section to facilitate the national poverty relief program. In total, Suning has helped sell products worth nearly RMB 200 million through all its channels in 2020.

About Suning Group

Founded in 1990, Suning is one of the leading commercial enterprises in China with two public companies in China and Japan. In 2020, Suning Group ranked second in the top 500 non-state owned enterprises in China with annual revenues of RMB 665.259 billion (approximately US $97 billion) and continued to top the list of Internet retailing category. Adhering to the enterprise mission of "Leading the Ecosystem across Industries by Creating Elite Quality of Life for All", Suning has strengthened and expanded its core business as retail through a corporate ecosystem comprising of multiple vertical industries, including commercial real estate, financial services and sports. Suning.com, the main subsidiary pioneering in online and offline retailing, has been listed in the Fortune Global 500 for four successive years from 2017 to 2020.

PR Newswire

Global Financial Firms Agree Automation, Remote Collaboration, Cloud, and Data Analytics are Biggest RegTech Priorities Following COVID-19 Pandemic

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AxiomSL’s survey of financial risk and regulatory compliance professionals in EMEA aligns with North American survey results stressing continued investment in tech infrastructure

LONDON, Feb. 25, 2021 — The 2020 AxiomSL annual user conferences in North America and EMEA regions have produced a clear consensus among global financial risk and regulatory compliance professionals on the most critical issues for the year ahead. According to surveys of participants in both events, automation, remote collaboration, cloud, and data analytics need to be the priorities for risk and regulatory compliance professionals as they chart a course to recovery following the COVID-19 pandemic.

"Regulatory reporting and risk management tends to be heavily influenced by regional regulatory requirements and pending legislation that will affect risk professionals in their own back yards, but this year has been very different," said Ed Royan, Head of Global Product, AxiomSL. "In many ways, the COVID-19 pandemic has created the need for a more concerted, technology-driven, global response to regulatory reporting – one that addresses the need for seamless collaboration among disparate teams, increased automation, and a continued expansion of data analytics capabilities," Royan continued. "Indeed, firms are seeing the benefits of RegCloud®, our secure cloud offering that insulates clients from both technology regulatory changes while enabling efficient outcomes across the global regulatory reporting landscape." 

Following are some of the key findings of the AxiomSL EMEA client survey:

  • Automation is the top challenge for next two years: Financial risk and regulatory professionals on both sides of the pond say eliminating manual processes is the top challenge their organizations will face over the next two years, with 28% of EMEA respondents and 29% of North American respondents saying their organizations are focused on automation.
  • Remote collaboration is the top operational challenge: More than half of respondents to the EMEA survey (51%) cited collaborating with teams while working remotely as the top operational challenge they have faced during the pandemic. Among North American respondents, 41% cited remote collaboration as the biggest operational challenge.
  • Data analytics and cloud come into focus: After years of resisting cloud adoption, many EMEA and North American financial institutions are finally gearing up to make the move. When it comes to regulatory technology spending over the next two years, enhanced data analytics is the top area of focus among 32% of EMEA and 29% of North American survey respondents. Cloud deployment followed with 23% of the vote among both EMEA and North American respondents.
  • RegTech budgets largely unchanged for 2021: The majority of EMEA (65%) and North American (70%) financial risk professionals said their regulatory technology budgets were not influenced by the COVID-19 crisis, while 22% of EMEA and 19% of North American respondents said they would spend less as a result of the pandemic. The remaining 13% of EMEA respondents and 11% of North American respondents said their firms would spend more on regulatory technology this year.

The two surveys were conducted independently as part of AxiomSL’s annual EMEA User Conference, which was held virtually on November 19, 2020, and North America User Conference, which was held virtually on June 18, 2020. Survey respondents represented a cross-section of financial risk and regulatory professionals from global systemically important banks (G-SIBs), regional banks, and foreign banking organizations (FBOs). The full report is available here: https://www.axiomsl.com/impacts-and-trends-in-risk-and-regulatory-reporting/

About AxiomSL
AxiomSL, a leading global provider of solutions and managed services, delivers efficient risk and regulatory data-management and reporting outcomes for financial institutions. Clients leverage AxiomSL’s solutions across financial, liquidity, capital and credit, shareholding disclosure, trade and transaction, and tax mandates. Its single, fully managed, audit-empowered offering, RegCloud® – AxiomSL’s ControllerView® platform in the cloud, futureproofs clients against technology and regulatory change. AxiomSL’s client base spans national, regional, and global financial institutions. These comprise banks with $45 trillion in total assets including 80% of G-SIBs; investment managers with $13 trillion in assets under management; and 30% of the top 60 US broker-dealers representing $44 billion in shareholder equity. It covers 110 regulators across 50 jurisdictions. AxiomSL ranks in the top 20 of the Chartis RiskTech100®.

For more information, visit www.axiomsl.com 

Contact us

John Roderick

President, J. Roderick Public Relations

Tel: +1 631 584 2200

Email: john@jroderick.com

 

Shamira Alidina

Media Relations Director, Dina Communications

Tel +44 (0) 7801 590718

Email: shamira@dinacomms.com

 

Francine Gittins

Global Head of Marketing and Communications, AxiomSL

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PR Newswire

Dada Group’s JDDJ Strengthens Partnership with G-super to Launch “Super Merchant Day” with New Sales Records

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SHANGHAI, Feb. 19, 2021 — Dada Group (Nasdaq: DADA) ("Dada" or the "Company"), China’s leading local on-demand delivery and retail platform, is pleased to announce that JD Daojia (JDDJ), the on-demand retail platform of Dada, has collaborated with G-super, the innovative retail chain brand of Greenland Group, to launch the exclusive "Super Merchant Day". On January 31, G-super saw new record-breaking online orders and sales on JDDJ.

A picker was processing JDDJ’s orders at a G-super store
A picker was processing JDDJ’s orders at a G-super store

"Super Merchant Day" is a customized online shopping festival created by JDDJ for leading supermarket chains in China. The event aims to integrate the online and offline retail businesses, including retailers, stores, brand owners and e-commerce platform, to innovate marketing effects and improve online sales, user base, and brand influence. In 2021, JDDJ plans to launch more than 30 Super Merchant Days together with Top 100 supermarket chains and regional leaders in China.

As an innovative retail chain brand created by Greenland Group, which is among the Global Top 500 and the world’s leading multinational comprehensive enterprise group, G-super is a leader in China’s boutique supermarkets, selecting cost-effective imported goods and creating satisfying user experience for new middle-class consumers.

This was the first time that G-super jointly launched a shopping festival with a local on-demand retail platform through its online stores nationwide. During the 9-day online promotion from January 23 to January 31, G-super’s sales increased by 7.4 times compared with the same period last year. On the peak day, the number of new users increased by 200% over the previous week and the consumption frequency of online members soared by nearly 40% on JDDJ.

Di Mu, the Assistant General Manager and E-commerce Manager of G-super, said that, "The ‘Super Business Day’ event achieved satisfactory results of sales, orders, users, and members. G-super and JDDJ have built close partnership in terms of marketing, online traffic, users, and online and offline services. This can be a good example for supermarkets and O2O platform to jointly launch an online shopping festival in the industry."

Huijian He, the Vice President of Dada Group, said that, "G-super’s advantages in products and customers are valuable for JDDJ to diversify and optimize the product supply and attract mid-to-high-end users. Since the establishment of partnership, JDDJ have supported G-super with capabilities and operations experience of online traffic, marketing, order fulfilment, product management, and member operations."

Since September 2017, JDDJ has cooperated with G-super, as its stores in Shanghai have been integrated into the platform. In the past more than three years, G-super maintained rapid growth in online stores and sales on JDDJ. To date, all G-super stores have launched on JDDJ, covering main cities in China such as Shanghai, Beijing, Guangzhou, Shenzhen, Nanjing, Jinan, and Chengdu. At the third quarter of 2020, G-super’s sales on JDDJ nearly increased by 2 times compared with the same period last year, and the number of users placing orders and new users also nearly doubled year-on-year.

"The ‘Super Merchant Day’ was a key milestone for our three-years cooperation. It also formed methodologies for two companies’ deepening future cooperation," said Ms. Mu. "The next three years will be crucial for G-super’s digitalization strategy, and JDDJ has become our important partner in this regard. We will strength our partnership with JDDJ in respect of users, products, order fulfilment, and marketing, to boost online sales and achieve refined operations."

About Dada Group

Dada Group is a leading platform of local on-demand retail and delivery in China. It operates JDDJ, one of China’s largest local on-demand retail platforms for retailers and brand owners, and Dada Now, a leading local on-demand delivery platform open to merchants and individual senders across various industries and product categories. The company’s two platforms are interconnected and mutually beneficial. The Dada Now platform enables improved delivery experience for participants on the JDDJ platform through its readily accessible fulfillment solutions and strong on-demand delivery infrastructure. Meanwhile, the vast volume of on-demand delivery orders from the JDDJ platform increases order volume and density for the Dada Now platform. In June 2020, Dada Group began trading on Nasdaq, under the ticker symbol "DADA".

About G-super

G-Super is an innovative retail chain brand created by Greenland Group, which is among the Global Top 500 and the world’s leading multinational comprehensive enterprise group. It is a preferred living space integrating "Shopping + Dining + Entertainment + Socializing". It not only focuses on imported goods with high cost performance, but also pays more attention to user experience: selecting global fashionable products, integrating fresh fruits and vegetables, fresh aquatic products, baked baking, catering delicacies, children’s experience, electronic products, etc. G-Super has paid more attention to the development of home-delivery service based on WeChat platform. WeChat orders can be delivered to customers’ homes in 30 minutes at the earliest. It focuses on Omni-channel development of online and offline to create a new era of Greenland shopping.

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PR Newswire

Future FinTech and Xi’an Jiaotong University have worked together to establish Blockchain Finance Research Institute

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NEW YORK, Feb. 17, 2021 — Future FinTech Group Inc.(NASDAQ: FTFT, "Future Fintech", "FTFT" or "Company"), a leading blockchain based e-commerce company and a financial technology service provider, announced today that its wholly-owned subsidiary, Future Commercial Group Co., Ltd., has cooperated with the School of Economics Finance of Xi’an Jiaotong University to establish a blockchain finance research institute.

Future Fintech and the School of Economics and Finance of Xi’an Jiaotong University will cooperate to jointly establish the Blockchain Finance Institute, which will carry out research and cooperation on blockchain technology in the financial industry. At the same time, the Blockchain Finance Institute will set up a foundation for establishing school-enterprise cooperation post-doctoral mobile stations for the next step. The two parties will focus on the research of blockchain technology in banking, insurance, securities, futures, supply chain finance, digital payment etc. FTFT will provide funds for scientific research, while Xi’an Jiaotong University will provide scientific and engineering research personnel. Relevant research results will be shared by both parties.

According to Mr. Shanchun Huang, the CEO of FTFT, "Xi’an Jiaotong University is a comprehensive national key university with a history of 125 years. Its leading scientific research is outstanding in China, especially in mathematics, finance and computing. The cooperation with Xi’an Jiaotong University indicates that our company has taken the application research of blockchain technology to a new level. The development of our company’s blockchain technology has been on the right track gradually. Blockchain technology can solve the problem of customer fund security in the financial field. It can improve the speed and efficiency of banking, remittance and settlement, as well as the prevention of systematic risk from malicious short-selling in securities transactions. It can solve the problems which cannot be solved by traditional technologies. Our company will work with Xi’an Jiaotong University to explore more applications in the financial blockchain field, and to further promote the company’s research and development to the world’s leading level."

Professor Fuyou Li, the director of the Institute of Financial System and Economic Policy, PhD supervisor of Xi’an Jiaotong University, said that "As the independent director of the FTFT, I am very happy to build a bridge for the cooperation between the two parties. I believe the blockchain finance research institute will be an open platform. The two parties will actively carry out experiments of blockchain-related applications. Meanwhile, we will jointly build laboratories in the subdivisional fields of blockchain technology so that it can better serve economic development and benefit mankind."

Professor Zao Sun, the doctoral supervisor and dean of the School of Economics and Finance of Xi’an Jiaotong University highly agrees with this collaboration and believes that the cooperation between the school and enterprise is great. This will realize the combination of theory and practice by "going out and coming in". It can provide a full play to their respective advantages, offer opportunities and platforms for the development of both parties, and achieve a win-win situation.

About Future FinTech Group Inc.

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

Safe Harbor Statement                                                  

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

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

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Future FinTech Group Inc.