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PR Newswire
58.com Enters into a Definitive Agreement for Going-Private Transaction

BEIJING, June 15, 2020 /PRNewswire/ — 58.com Inc. (NYSE: WUBA) ("58.com" or the "Company"), China’s largest online classifieds marketplace, today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with Quantum Bloom Group Ltd, an exempted company with limited liability incorporated under the law of the Cayman Islands ("Parent") and Quantum Bloom Company Ltd, an exempted company with limited liability incorporated under the law of the Cayman Islands and a wholly-owned subsidiary of Parent ("Merger Sub"), pursuant to which, and subject to the terms and conditions thereof, Merger Sub will merge with and into the Company with the Company being the surviving company and becoming a wholly-owned subsidiary of Parent (the "Merger"), in a transaction implying an equity value of the Company of approximately US$8.7 billion in which the Company will be acquired by a consortium of investors (the "Consortium").

Pursuant to the terms of the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each Class A ordinary share, par value US$0.00001 per share, of the Company (each, a "Class A Ordinary Share," together with each Class B ordinary share, par value US$0.00001 per share, of the Company, each a "Share") issued, outstanding and not represented by American depositary shares of the Company (each, an "ADS," representing two Class A Ordinary Shares) immediately prior to the Effective Time, other than the Excluded Shares and the Dissenting Shares (each as defined in the Merger Agreement), will be cancelled and cease to exist, in exchange for the right to receive US$28.00 in cash without interest, and each outstanding ADS, other than the ADSs representing the Excluded Shares, together with each Share represented by such ADSs, will be cancelled in exchange for the right to receive US$56.00 in cash without interest (the "Merger Consideration").

At the Effective Time, each (i) option to purchase Shares that shall have become vested or is expected to vest on or prior to December 31, 2020 and remains outstanding on the closing date of the Merger (the "Vested Company Option") will be cancelled, and each holder of a Vested Company Option will have the right to receive an amount in cash determined by multiplying (x) the excess, if any, of US$28.00 over the applicable exercise price of such Vested Company Option by (y) the number of Class A Ordinary Shares underlying such Vested Company Option; (ii) option to purchase Shares which is not a Vested Company Option (the "Unvested Company Option") will be cancelled in exchange for an employee incentive award pursuant to terms and conditions to be determined by Parent in accordance with the Company’s 2010 Stock Option Plan and 2013 Share Incentive Plan collectively, each as amended and restated (the "Company Share Plans") and the award agreement with respect to such Unvested Company Option; (iii) restricted share unit that shall have become vested or is expected to vest on or prior to December 31, 2020 and remains outstanding on the closing date of the Merger (the "Vested Company RSU") will be cancelled, and each holder of a Vested Company RSU will have the right to receive an amount in cash determined by multiplying (x) US$28.00 by (y) the number of Class A Ordinary Shares underlying such Vested Company RSU; and (iv) restricted share unit which is not a Vested Company RSU (the "Unvested Company RSU") will be cancelled in exchange for an employee incentive award pursuant to terms and conditions to be determined by Parent in accordance with the Company Share Plans and the award agreement with respect to such Unvested Company RSU.

The Merger Consideration represents a premium of 19.9% to the closing price of the Company’s ADSs on April 1, 2020, the last trading day prior to the Company’s announcement of its receipt of the original "going-private" proposal, and a premium of 19.2% to the volume-weighted average closing price of the Company’s ADSs during the last 15 calendar days prior to its receipt of the original "going-private" proposal.

The Consortium includes Warburg Pincus Asia LLC (together with its affiliated investment entities, "Warburg Pincus"), General Atlantic Singapore Fund Pte. Ltd. (together with its affiliated investment entities, "General Atlantic"), Ocean Link Partners Limited (together with its affiliated investment entities, "Ocean Link"), Mr. Jinbo Yao, chairman of the board of directors (the "Board") and Chief Executive Officer of the Company, and Internet Opportunity Fund LP, an entity controlled by Mr. Jinbo Yao.

The Consortium intends to fund the Merger through a combination of, cash contributions from the investors pursuant to equity commitment letters, rollover equity contributions from certain shareholders of the Company, and the proceeds from certain committed term loan facilities in an aggregate amount up to US$3,500,000,000 from Shanghai Pudong Development Bank Co., Ltd. Shanghai Branch and additional arrangers and underwriters to be appointed by the Consortium.

The Company’s Board, acting upon the unanimous recommendation of a committee of independent and disinterested directors established by the Board (the "Special Committee"), approved the Merger Agreement and the Merger. The Special Committee negotiated the terms of the Merger Agreement with the assistance of its independent financial and legal advisors.

The Merger, which is currently expected to close during the second half of 2020, is subject to customary closing conditions including the approval of the Merger Agreement by an affirmative vote of holders of Shares representing at least two-thirds of the voting power of the Shares present and voting in person or by proxy as a single class at a meeting of the Company’s shareholders which will be convened to consider the approval of the Merger Agreement and the Merger. Mr. Jinbo Yao (together with an entity through which Mr. Yao beneficially owns Shares) and General Atlantic Singapore 58 Pte. Ltd. have agreed to vote all of the Shares and ADSs they beneficially own, which represent approximately 44% of the voting rights attached to the total outstanding Shares of the Company as of the date of the Merger Agreement, 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-held company and its ADSs will no longer be listed on the New York Stock Exchange.

Houlihan Lokey (China) Limited is serving as financial advisor to the Special Committee; Fenwick & West LLP is serving as U.S. legal counsel to the Special Committee; Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal counsel to the Company; Han Kun Law Offices is serving as PRC legal counsel to the Company; and Conyers Dill & Pearman is serving as Cayman Islands legal counsel to the Company.

Wilson Sonsini Goodrich & Rosati, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Kirkland & Ellis LLP and Weil, Gotshal & Manges LLP are serving as international co-counsels to the Consortium. Fangda Partners is serving as PRC legal counsel to the Consortium. Maples and Calder (Hong Kong) LLP is serving as Cayman Islands legal counsel to the Consortium.

Additional Information About the Merger

The Company will furnish to the U.S. Securities and Exchange Commission (the "SEC") a current report on Form 6-K regarding the Merger, which will include as an exhibit thereto the Merger Agreement. All parties desiring details regarding the Merger are urged to review these documents, which will be available at the SEC’s website (http://www.sec.gov).

In connection with the Merger, the Company will prepare and mail a Schedule 13E-3 Transaction Statement (the "Schedule 13E-3"). The Schedule 13E-3 will be filed with the SEC. INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE SCHEDULE 13E-3 AND OTHER MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE MERGER, AND RELATED MATTERS. In addition to receiving the Schedule 13E-3 by mail, shareholders also will be able to obtain these documents, as well as other filings containing information about the Company, the Merger, and related matters, without charge from the SEC’s website (http://www.sec.gov).

About 58.com Inc.

58.com Inc. (NYSE: WUBA) operates China’s largest online classifieds marketplace, as measured by monthly unique visitors on both its www.58.com website and mobile applications. The Company’s online marketplace enables local business users and consumer users to connect, share information and conduct business. 58.com’s broad, in-depth and high-quality local information, combined with its easy-to-use website and mobile applications, has made it a trusted marketplace for consumers. 58.com’s strong brand recognition, large and growing user base, merchant network and massive database of local information create a powerful network effect. For more information on 58.com, please visit http://www.58.com.

Safe Harbor Statements

This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. 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," "confident" and similar statements. Any statements that are not historical facts, including statements about 58.com’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: uncertainties as to how the Company’s shareholders will vote at the meeting of shareholders; the possibility that competing offers will be made; the possibility that financing may not be available; the possibility that various closing conditions for the transaction may not be satisfied or waived; and other risks and uncertainties discussed in documents filed with the SEC by the Company, as well as the Schedule 13E-3 transaction statement and the proxy statement to be filed by the Company. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is current as of the date of the press release, and 58.com does not undertake any obligation to update such information, except as required under applicable law.

For more information, please contact:

58.com Inc.
[email protected]

Christensen

In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: [email protected]

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: [email protected]

Related Links :

http://www.58.com

PR Newswire
Coocaa to Kick off Mid-Year Promotion on LAZADA with a Wide Range of Customer Benefits

HANOI, Vietnam, June 12, 2020 /PRNewswire/ — Coocaa is about to kick off its mid-year promotion campaign (18th-22nd June) on LAZADA, an e-commerce platform in Southeast Asia at 18:00 on June 12. While bringing a wide range of shopping benefits to customers, Coocaa is going to unveil unlimited possibilities of improving quality of life and creating new TV-watching experiences for them.

Coocaa to Kick off Mid-Year Promotion on LAZADA with a Wide Range of Customer Benefits
Coocaa to Kick off Mid-Year Promotion on LAZADA with a Wide Range of Customer Benefits

During this campaign, Coocaa will join hands with a highly influential key opinion leader (KOL) in Vietnam to present two Coocaa smart TV models on live streaming. Among them, 55S6G, a new star in the Coocaa S6G family will be included in the grand promotion as a key product of recommendation. (https://bit.ly/3czmLnJ).

55S6G not only features the Dolby audio/visual effects and a narrow frame design, but also is equipped with the Android 9.0 system, AI technology, along with an open application platform, YouTube browsing, voice assistant, screen mirroring and other functions. While bringing immersive audio and visual experiences to users, this smart TV will also usher in a brand-new style of smart homes.

Coocaa to Kick off Mid-Year Promotion on LAZADA with a Wide Range of Customer Benefits
Coocaa to Kick off Mid-Year Promotion on LAZADA with a Wide Range of Customer Benefits

On the night of the live streaming, the KOL will interact with fans in a number of interesting ways and present fans with a range of rewards, including Coocaa headphones and free-purchase entitlement. On top of that, Coocaa will give various gifts to the first 80 customers who successfully place orders at the LAZADA Coocaa store. These gifts include iPhones, trolley speakers, Coocaa Bluetooth headphones, and a variety of coupons. Eligible customers and those who actively participate in the games of the store will be entitled to the benefits.

Coocaa to Kick off Mid-Year Promotion on LAZADA with a Wide Range of Customer Benefits
Coocaa to Kick off Mid-Year Promotion on LAZADA with a Wide Range of Customer Benefits

Notably, in order to repay consumers for their love of the products, Coocaa has specifically arranged an audio system as the gift for a selected customer. This lucky customer will be chosen from those who successfully place order(s) on June 18.

For more information on Coocaa mid-year grand promotion, with diversified interactions, generous promotional benefits, and quality Coocaa TVs, visit Coocaa Store on LAZADA (https://bit.ly/2UfhATw), or follow @Coocaa to get promotion updates in real time.

Photo – https://photos.prnasia.com/prnh/20200611/2827424-1-a?lang=0
Photo – https://photos.prnasia.com/prnh/20200611/2827424-1-b?lang=0
Photo – https://photos.prnasia.com/prnh/20200611/2827424-1-c?lang=0

 

PR Newswire
P&G and Shopee drive record sales at first-ever experiential online initiative, Show Me My Home, with more than 15x increase in orders

Show Me My Home is a key initiative under the recently signed Joint Business Plan between P&G and Shopee

KUALA LUMPUR, Malaysia, June 12, 2020 /PRNewswire/ — Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, and Procter & Gamble (NYSE:PG), a leading fast-moving consumer goods company, achieved strong performance for their first-ever experiential online initiative, Show Me My Home. The initiative recorded more than 15x increase in orders at peak day[1], and it is a key activation under the recently signed regional Joint Business Plan (JBP) between Shopee and P&G. The JBP marks a joint commitment between Shopee and P&G to improve the online shopping experience for users across the region, and to provide convenient and easy access to quality FMCG products on Shopee.  

Shankar Viswanathan, Vice-President, P&G Malaysia, Singapore, Vietnam and E-Commerce, P&G Asia Pacific, Middle East & Africa (left), and Chris Feng, CEO, Shopee (right), at the official Joint Business Plan signing [Photo taken before circuit breaker]
Shankar Viswanathan, Vice-President, P&G Malaysia, Singapore, Vietnam and E-Commerce, P&G Asia Pacific, Middle East & Africa (left), and Chris Feng, CEO, Shopee (right), at the official Joint Business Plan signing [Photo taken before circuit breaker]

Chris Feng, CEO at Shopee, said, "As we transit into the new normal, e-commerce has taken on greater importance in people’s lives. Consumers are increasingly going online to fulfil their everyday needs, and it is important for businesses to remain agile and adapt quickly. The success of P&G’s online debut of the Show Me My Home initiative on Shopee is proof of that. By merging P&G’s portfolio of leading FMCG brands and retail expertise with Shopee’s wealth of insights on online shoppers’ behaviour and preferences, it allowed us to deliver a novel, experiential online home shopping experience for consumers across the region. This success has inspired us to continue innovating to provide the best for our users, and we are excited to work closely with P&G going forward."

Shoppers enjoyed greater convenience with Show Me My Home

The Show Me My Home initiative was initially an offline concept which was well-received among both consumers and retailers. With a shared vision to serve the region’s increasingly savvy digital consumers at scale, P&G leveraged Shopee’s technology expertise and insights on online shoppers to optimize and scale the experience online. Through this partnership, P&G and Shopee successfully piloted the online version of Show Me My Home, recording more than 15x increase in orders at peak day. The Show Me My Home initiative offered greater convenience as shoppers could easily find what they needed as the microsite simulated the household environment. This novel way of shopping online successfully captured shoppers’ attention with an overall increase in traffic for P&G.  

Fostering meaningful connections with Shopee’s in-app engagement features 

As people spend more time online, brands are also increasingly finding new ways to interact and engage with their consumers. As part of the Show Me My Home initiative, P&G leveraged Shopee’s engagement features to foster deeper and meaningful connections with their consumers.

  • Shopee Live: P&G tapped on Shopee Live to engage consumers with a special series of live streams featuring popular local celebrities. The biggest stars, including Yuna, Iman Azman and Preston Kaw shared with fans and Shopee users their favourite P&G products, as well as provided tips on how to use them.
  • Shopee Throw: Users visited Shopee daily to play Shopee Throw, an in-app game where users can win exclusive P&G vouchers and prizes by throwing arrows onto a target on the Shopee app. The game was played over 600,000 times in 5 days, offering added entertainment and value to consumers while they shopped for their favourite P&G brands.      

Show Me My Home marks the first of many initiatives under the recent regional JBP between Shopee and P&G. The JBP aims to better serve and capture the hearts of online shoppers in the region by providing a seamless access to P&G’s wide range of leading brands and products. This agreement will see P&G broadening its multi-brand portfolio offerings on Shopee and tapping on Shopee’s big data analytics capability to provide a personalised customer journey via precise marketing. In addition, P&G will leverage Shopee Brands Suite, a comprehensive set of support tools, such as Shopee Live, to help brand partners better reach and connect with consumers. 

"At P&G, we are continually trying new ways to personalize and engage our consumers be it offline or online. The encouraging results we have achieved from this campaign proves the partnership with Shopee to be very successful as we managed to engage more meaningfully with our consumers on digital platforms. We look forward to evolving with the customer as we work closely with Shopee to execute future innovations online, serving more regions and value-adding to digital transactions," adds Shankar Viswanathan, Vice President, E-Commerce, Asia Pacific, Middle East and Africa.

With the success of the Show Me My Home initiative, P&G and Shopee will be bringing it back on 15 June 2020, featuring another round of exclusive deals and promotions from popular P&G brands including Olay, Pantene, and Ambi Pur. 

To know more, visit https://shopee.com.my/m/pg-mid-year-sale

[1] Compared to average day in 2020

Appendix

For a full list of P&G products available on Shopee’s Show Me My Home Campaign, please visit this website.

About Procter & Gamble

P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands.

About Shopee

Shopee is the leading e-commerce platform in Southeast Asia and Taiwan. It was launched in 7 markets in 2015 to connect consumers, sellers, and businesses in the region. Shopee offers an easy, secure, and engaging experience that is enjoyed by millions of people daily. It offers a wide product assortment, supported by integrated payments and logistics, as well as popular entertainment features tailored for each market. Shopee is also a key contributor to the region’s digital economy with a firm commitment to helping brands and entrepreneurs succeed in e-commerce.

Shopee is a part of Sea Limited (NYSE:SE), a leading global consumer internet company. In addition to Shopee, Sea’s other core businesses include its digital entertainment arm, Garena, and digital financial services arm, SeaMoney. Sea’s mission is to better the lives of consumers and small businesses with technology.

 

Photo – https://photos.prnasia.com/prnh/20200610/2826392-1?lang=0

Related Links :

https://pg.com/

PR Newswire
NS8 Raises $123 Million Series A, Now Among Fastest Growing Fraud Prevention Platforms in the World

Latest Raise Led by Lightspeed Venture Partners and AXA Venture Partners

LAS VEGAS, June 12, 2020 /PRNewswire/ — NS8, an online fraud prevention company, announced the company has successfully closed $123 million in venture funding led by Lightspeed Venture Partners and AXA Venture Partners (AVP).

With this investment, NS8 will accelerate product development and expand its global reach with an increased focus on growing its vast partner network. The company has grown from 50 to over 200 employees within the last year, and hiring continues across sales, engineering, marketing, and infrastructure.

Lightspeed’s investment provides NS8 with access to the firm’s expansive global network, as well as a team of operators and advisors to help navigate challenges, build world-class teams, and support the company’s continued growth at all stages. 

"Online fraud prevention has grown rapidly due to the acceleration of ecommerce adoption by merchants and, with it, an increased threat of those seeking to attack online stores. Merchants of all sizes need to invest in security products to ensure a safe and secure online experience," said Bradley Twohig, Partner at Lightspeed Venture Partners. "NS8’s platform allows its partners and their merchants to stand up a full-service fraud prevention hub, in a matter of a day, across almost every ecommerce platform. The time to value is simply best in class."

AVP has significant experience helping scale companies that leverage differentiated technology and efficient business models to drive innovation in enterprise software, fintech, consumer and digital health. With offices in North America, Europe, and Asia, AVP can also help NS8 accelerate its global expansion.

"NS8 has built a market-leading fraud detection and prevention platform combining advanced data analytics with real-time scoring. NS8’s rapid growth is a testament to the strength of the company’s product and the value NS8 delivers to its customers," said Alex Scherbakovsky, General Partner at AXA Venture Partners and NS8 board member. "We are excited to partner with Adam and the NS8 team to scale the business globally."

Throughout the recent global pandemic, NS8 continues to emerge as the fastest growing industry leader, with year-over-year revenue growth of 200 percent and a dedicated focus on aiding online vendors to make fraud decisions that protect their customers and their bottom line.

"Thanks to this investment from Lightspeed, AXA Venture Partners, and our full backing group, we can continue to scale to meet the growing demand for fraud prevention technology in the global marketplace," said NS8 CEO Adam Rogas. "This partnership positions NS8 to empower even more businesses with enterprise-level fraud defenses, regardless of size or industry."

About NS8
NS8 is a comprehensive fraud prevention platform that combines behavioral analytics, real-time scoring, and global monitoring to help online businesses minimize risk. Its patented scoring technology provides actionable data about the type, quality, and trustworthiness of transactions, which businesses leverage to automate fraud management workflows to suit their individual needs. NS8 is headquartered in Las Vegas, with regional offices located in San Francisco, San Ramon, Miami, Amsterdam, Singapore, and Melbourne. www.ns8.com

Crowell & Moring LLP served as legal counsel to NS8 in the fundraising transaction.

About Lightspeed Venture Partners
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 400 companies globally, including Snap, Nest, Nutanix, AppDynamics, MuleSoft, OYO, Guardant, StitchFix, and GrubHub. Lightspeed and its affiliates currently manage $10.5B across the global Lightspeed platform, with investment professionals and advisors in Silicon Valley, Israel, India, China, Southeast Asia, and Europe. www.lsvp.com

About AXA Venture Partners
AXA Venture Partners (AVP) is a global venture capital firm investing in high-growth, technology-enabled companies. AVP has built, in less than five years, a unique investment platform specialized in tech investments with $800 million of assets under management through three pillars of investment expertise: early stage, growth stage, and fund of funds. To date, AVP has invested in more than 45 companies and more than 15 funds. The AVP team operates globally with offices in San Francisco, New York, London, Paris, and Hong Kong. Beyond investments, AVP provides unique access to business development opportunities helping portfolio companies to scale globally and accelerate their growth. www.axavp.com

LinkedIn: @ns8               Twitter: @ns8inc               NS8.com

Logo – https://techent.tv/wp-content/uploads/2020/06/ns8-raises-123-million-series-a-now-among-fastest-growing-fraud-prevention-platforms-in-the-world.jpg   

Related Links :

http://www.ns8.com

PR Newswire
Over 85 Hong Kong Companies Rolled Up Their Sleeves in Fighting COVID-19, GS1 Hong Kong’s Authentication Solution Helps Prevent Fake Masks & Protect Brands

HONG KONG, June 5, 2020 /PRNewswire/ — Despite the heavy blow of COVID-19 on business, many local companies find new opportunities in producing and trading anti-epidemic products to battle against the pandemic, and ride out the challenges by quickly transforming and diversifying their businesses.

Consumers can verify whether a product is genuine simply by scanning the REAL QR Code with “REAL Barcode” mobile app. Consumers can obtain immediate results from REAL Barcode and verify that the product is real. Consumers can access to detailed product information after verifying the product.
Consumers can verify whether a product is genuine simply by scanning the REAL QR Code with “REAL Barcode” mobile app. Consumers can obtain immediate results from REAL Barcode and verify that the product is real. Consumers can access to detailed product information after verifying the product.

 

Since the outbreak of COVID-19 in February, more than 85 companies have applied for the global barcode from GS1 Hong Kong (GS1 HK). Barcodes not only enable the companies to sell locally and globally, online & offline, but also help them enhance brand value. Among which a brand goes further to adopt GS1 HK’s patented authentication solution to safeguard consumers’ health and build their trust.

Enabling Omni-channel Commerce with Barcodes

GS1 Hong Kong has sped up the barcode application process for more than 85 companies supplying anti-epidemic items, so their products can roll out to market faster to aid the city’s fight against COVID-19. Among the newly registered companies, 32 of the them are manufacturers, and the majority are making face masks for local market. Li Hung International Company Limited, a garment manufacturer of 20 years, is one of them. They started mask production in their dust-free workshop in early May, under the company "Hong Kong Mask Co. Ltd." newly registered in February. They are now offering EN14683 Type II certified (BFE>99%) disposable face masks, supplying the city with an estimated 2.5 million pieces per month.

Their spokesperson acknowledges that barcodes help them "inside and out". Externally, the barcode prefix "489" supports them sell in both domestic and overseas markets, as it’s a prerequisite for products to be listed on retail stores and e-commerce platforms like Amazon, and worldwide consumers would recognise and be assured of the "Made in Hong Kong" quality. Internally, barcodes help in a number of ways in terms of inventory management, pick & pack, distribution and sales management, etc.

"GS1 international barcode is every product’s ID. It allows products to be uniquely identified, and serves as the basis for authentication and verification," said Anna Lin, Chief Executive of GS1 Hong Kong. "Besides widely used in physical stores, leading e-commerce platforms like Alibaba, Amazon, eBay and Google also require or call for GS1 product standards identification, Global Trade Item Number (GTIN), to be used, which facilitate consumers to easily search for products, providing detailed, accurate & reliable information, building trust in the heads & minds of consumers."

"489" Barcode on Mask Package Increases Consumer Confidence

There are some dishonest merchants who have taken advantage of the circumstances by selling unscrupulous masks, and it’s often hard to distinguish the reliable ones from the wide array of masks in the market. Barcode prefix (the first 3 digits of a barcode) can give a hint to consumers about the products’ owner origin, as it indicates the area in which the company is registered. For example, barcode prefix "489" represents companies registered in Hong Kong, "471" stands for Taiwan, "450-459" and "490-499" means Japan.

GS1 Hong Kong members can upload their product information onto GS1 HK’s BarcodePlus, a product information repository, for free, which is accessible by potential buyers or consumers from all over the world. The platform helps increase product visibility and raise awareness among consumers.

Simply by entering the barcode numbers issued by GS1 HK on www.barcodeplus.com.hk, consumers can easily obtain detailed product information and the contact information of the registered company. In case of need, consumers can reach the company directly to enquire more details about the product, offering a peace of mind. BarcodePlus is also connected to WeChat’s database: With a simple barcode scan using WeChat, consumers can gain instant access to the trusted information provided by the registered companies.

Authenticating Products with a Simple Scan

BarcodePlus is also connected to GS1 HK’s authentication solution to validate products and protect brand image. To prevent consumers from buying counterfeits, a reusable masks maker that first used wearable healthcare technology in Hong Kong adopts GS1 HK’s REAL Barcode solution on its more than 500 types of masks. They include the ACCAPI far-infrared energy masks series, the ultra-breathable and antibacterial XMask series, and the handmade artistry Queen Mask series. Consumers can verify whether the product is genuine simply by scanning the QR code with "REAL Barcode" mobile app.

Using state-of-the-art technologies, REAL Barcode integrates patented anti-forgery micro printing, multi-layered digital encryption and GS1 standards to prevent the barcode from forgery. Other features include:

  1. Can be applied onto packaging items of different materials, such as cards, fabrics, aluminum cans, etc;
  2. The REAL Barcode printed on the woven fabric label attached to the reusable masks is durable, can be washed for 30 times;
  3. Can be printed as barcodes or QR codes, allowing brands to provide more detailed product information to consumers via the codes.

Maria Chui, Chief Operating Officer of Gold Pine International Holdings Limited, highlighted that the patented far-infrared material exclusively used on their ACCAPI FIR mask series, is a result of 13 years of evidence-based clinical practice around the globe, with CE Marking Class I medical devices compliance. Their Xmask series is the first to incorporate Coolmax and silver fabric technology, and even though they are one-of-a-kind, consumers cannot identify the uniqueness with naked eyes. She believes there could be risk of copycats so the company decided to adopt REAL Barcode, a trustworthy and cost-effective solution that helps in preventing counterfeits. Please visit the webpage for details of the masks: http://ii2.me/-FQJ2YEDIIOU18H.

Building Consumer Trust and Protecting Brand Image

In addition, REAL Barcode solution also empowers brand owners with real-time visibility on scan activities. If counterfeit goods are scanned, brand owners will be alerted and receive the location and other information of the counterfeits.

The solution also helps businesses in consumer engagement, channel management and traceability:

  1. Besides obtaining trusted product information after scanning, consumers will be connected to the online store or other promotional channel;
  2. Brand owners can identify suspicious suppliers by tracking the scanning activities and combat parallel goods;
  3. Integrated with cloud-based track-and-trace platform "ezTRACK", end-to-end traceability from product origin to point of sale is enabled.

"Pirated goods are everywhere. News about Hong Kong Customs seizing counterfeits are heard from time to time, posing serious threats to brand owners, distributors, retailers and consumers," said Dr. Stephen Lam, Chief Operating Officer of GS1 Hong Kong. "With patented, multi-layered anti-forgery printing technology, the solution can be adopted in product categories like health supplements, personal care products, consumer electronics, jewelry, etc., effectively preventing counterfeits and enhancing consumer confidence. It is crucial for brand protection."

Grow Stronger as One

GS1 Hong Kong has stayed vigilant and proactive to the health and wellbeing of our 8,000 members and staff during the pandemic. They have implemented all-round measures to protect their staff, visitors, members, and ensured their services are accessible to all members as usual while offering flexible options to members in times of adversity. Please visit here for details: https://www.gs1hk.org/zh-hk/Anti-Covid-19-Support-Updates.

Photos Download & Captions: https://gs1hongkong.box.com/s/19twgxnosk5nvt758572tuqr9bghjr3l

Media Contacts

Corinna Fung
Telephone: +852 2863 2787
Email: [email protected]

Will Ip
Telephone: +852 2863 2763
Email: [email protected]

About GS1 Hong Kong

Founded by the Hong Kong General Chamber of Commerce in 1989, GS1 Hong Kong is the local chapter of GS1®, a not-for-profit, standards organisation that develops and drives adoption of global standards for business to uniquely identify, accurately capture and automatically share vital information about products, locations and assets. Headquartered in Brussels, Belgium, GS1 has over 110 national chapters in 150 countries.

GS1 Hong Kong’s mission is to empower business to grow and to improve efficiency, safety, authenticity and sustainability across multiple sectors and facilitates commerce connectivity through the provision of a full spectrum of platforms, solutions and services based on our global standards. We provide a trusted foundation for accurate, sharable, searchable and linkable data. Our EPC standard lays the foundation for IoT, powering a range of IoT-based services and applications. We are helping industry to meet the challenges of omni-channel commerce and create a seamless customer experience. By engaging with communities of trading partners, industry organisations, government, and technology providers, we are fostering a collaborative ecosystem and aiming for "Smarter Business, Better Life".

Currently, GS1 Hong Kong has around 8,000 corporate members covering close to 20 industries including retail consumer goods, food and food services, healthcare, apparel, logistics as well as information and technology.

For more information, please visit www.gs1hk.org.

About GS1 HK BarcodePlus

BarcodePlus is a product and location information portal that provides companies, brand owners in particular, with a B2B information exchange tool. This keeps their trading partners updated about new product information in an accurate and cost effective way. It also offers a one-stop solution for businesses to enhance product data visibility to consumers for stronger brand awareness and integrity.

This trusted source of product data ensures that all product information is uploaded by authorised and registered brand owners or distributors of particular products. With this huge product data pool, it enables consumers to obtain extended packaging information using GS1 barcodes via the Internet, mobile phone or smart kiosk.

Photo – https://photos.prnasia.com/prnh/20200605/2822590-1?lang=0
Logo – https://photos.prnasia.com/prnh/20190617/2499095-1logo?lang=0

Related Links :

http://www.gs1hk.org

PR Newswire
Tuniu to Report First Quarter 2020 Financial Results on June 10, 2020

NANJING, China, June 5, 2020 /PRNewswire/ — Tuniu Corporation (NASDAQ: TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced that it plans to release its unaudited financial results for the first quarter ended March 31, 2020, before the market opens on June 10, 2020.

Tuniu’s management will hold an earnings conference call at 8:00 am U.S. Eastern Time on June 10, 2020 (8:00 pm Beijing/Hong Kong Time on June 10, 2020).

Listeners may access the call by dialing the following numbers:

US

+1-888-346-8982

Hong Kong

+852-301-84992

Mainland China

4001-201203

International

+1-412-902-4272

Conference ID: Tuniu 1Q 2020 Earnings Call         

A telephone replay will be available one hour after the end of the conference call through June 17, 2020. The dial-in details are as follows:

US

+1-877-344-7529

International

+1-412-317-0088

Replay Access Code: 10144584

Additionally, a live and archived webcast of this conference call will be available at http://ir.tuniu.com/.

About Tuniu Corporation

Tuniu (Nasdaq:TOUR) is a leading online leisure travel company in China that offers a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu covers over 420 departing cities throughout China and all popular destinations worldwide. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service representatives, 24/7 call centers, extensive networks of offline retail stores and self-operated local tour operators. For more information, please visit http://ir.tuniu.com.

For investor and media inquiries, please contact:

China
Mary Chen
Investor Relations Director
Tuniu Corporation
+86-25-6960-9988
[email protected]

Related Links :

https://www.tuniu.com/

PR Newswire
Acorn International Files 2019 Annual Report on Form 20-F

SHANGHAI, June 5, 2020 /PRNewswire/ — Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company") today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2019 with the Securities and Exchange Commission on June 3, 2020.  The annual report can be accessed on the Company’s investor relations website at http://www.acorninternationalgroup.com.

Acorn will provide a hard copy of its annual report for the fiscal year ended December 31, 2019, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Company’s IR representatives, or in writing to Acorn International, Inc., 5/F, YueShang Plaza, 1 South Wuning Road, Shanghai 200042, People’s Republic of China.

About Acorn International, Inc.

Acorn International is a leading marketing and branding company in China, leveraging a twenty-year direct marketing history to monetize brand IP, content creation and distribution, and product sales, through digital media in China. For more information visit www.acorninternationalgroup.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," "potential," and similar statements. Such statements are based on current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond Acorn’s control, including the extent and duration of the adverse impact of COVID-19, which may cause actual results, performance, actions, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.

Investor Contacts:

Contact:

Compass Investor Relations    
Ms. Elaine Ketchmere, CFA    
Phone: +1-310-528-3031 
Email: [email protected]

Related Links :

http://www.acorninternationalgroup.com

PR Newswire
CouponBirds Data Reveals User Behavior Change During Epidemic

BEIJING, June 4, 2020 /PRNewswire/ — The speed and range of epidemic spreading strongly influence user behavior. CouponBirds latest data analysis shows that online users’ behavior has changed a lot in the past few months as COVID-19 became a pandemic, including devices, purchasing power, and country distribution.

Due to the impact of the epidemic, daily internet usage time increases, and outdoor activities drop a lot. Mobile devices are more dominating when people spend more time at home. CouponBirds May 2020 data shows that mobile device coverage increased to 62.79% from 53.38%.


As to consumers’ performance during the outbreak, it can be seen that the purchasing power and transaction volume show different trends when it comes to different kinds of products. CouponBirds data analysis team noticed that the demand for games, bicycles, and online education had been particularly increased. As stay-at-home time becomes longer and the shipping services are restricted during the epidemic, people are more likely to shell out money for easy entertainment like board games, puzzles, and video games. Furthermore, people tend to snap up new bicycles or dust off decades-old bikes to stay fit, keep their sanity, or have a safe alternative to public transportation. The third thriving business is online learning resources, which is a great choice for people who are studying, teaching, or working remotely in this uncertain environment.

CouponBirds data also shows the percentage of users by country was different during the epidemic. Users from the US, UK, Canada, and Australia increased by 15.07%, 14.02%, 27.49%, and 16.91% respectively.


The pandemic has big impacts on both customers and merchants. It is even harder to make the transaction happen when people’s income is shrinking. CouponBirds invests a lot to discover as many valid coupons as possible, which is the best way to help customers save and at the same time help merchants sell their products.

Like some charities are helping feed families during the coronavirus outbreak, CouponBirds is doing what we can to give back to the community. "CouponBirds Seedling Project was born during the outbreaks to help people in another way, and it is a great fundraising platform for non-profit organizations", said Sherry Zhao, marketing director of CouponBirds, "We are working hard to make CouponBirds one of the best communities to help more people".

About CouponBirds

CouponBirds is a leading coupon platform in terms of brand coverage, coupon accuracy, and coupon richness. It has been providing free and fresh coupon codes since 2012. With the biggest coupon operation team in the world and continuous engineering efforts input, CouponBirds is the top choice for customers looking for coupons and deals.

Related Links:

https://www.couponbirds.com/

 

PR Newswire
Hyundai Card introduces 5 trends shaping the way Koreans consume digital content

SEOUL, South Korea, June 4, 2020 /PRNewswire/ — Ranging from K-pop sensation BTS and Oscar-winning "Parasite", Korean pop culture appears to be having its moment. Combined with ultrafast internet and 5G-powered smartphones, the growing popularity of Korean movie and music has led to an expansion in the country’s digital content consumption.

Korea’s major credit card company Hyundai Card has introduced 5 key trends shaping Koreans’ spending habits on digital content. The result is based on the company’s 2017-2019 analysis of its consumer transaction data at 10 digital subscription service providers such as Netflix and YouTube Premium.

The three-year analysis was a part of the efforts to better understand Korean digital content subscribers by Hyundai Card, which has been leading the country’s credit card trends with products tailored to customers’ lifestyle and extensive digital transformation initiatives. It has developed an artificial intelligence-based chatbot, adopted blockchain for its system and built an advanced algorithm to offer more personalized  customer services and benefits.

For more information about this report visit http://newsroom.hcs.com/front/board/Spending-on-video-streaming-services-grows

Infographic by Hyundai Card - Hyundai Capital Newsroom
Infographic by Hyundai Card – Hyundai Capital Newsroom

1. Korea’s digital content market grows much faster than global trends 

According to Hyundai Card’s analysis, its consumers spent some $30.83 million on music, video and e-book subscription services in 2019. It was about 2.6 times more than what was spent in 2017. The number of transactions has tripled over the same period from 2.36 million to 7.11 million.

While Korea is not the only country to witness the expansion of the digital content market, its growth pace has been much faster than global trends. According to Statista, digital content market (excluding games) edged up 1.13 times from $65.46 billion to $73.99 billion between 2017 and 2019, relatively slower than in Korea.

2. Video streaming services prompt explosive consumption in digital content

Among digital content subscription services, video streaming displayed the steepest growth in content consumption. Payments on video streaming services skyrocketed nine times from $2.05 million in 2017 to $17.92 million in 2019, while spending on music steaming services increased merely 1.3 times between 2017 and 2019.

The explosive growth of video streaming consumption was reflected in the transaction amount. Among the five most paid-for services in 2017, three were home-grown music streaming services such as Melon, Genie Music and Bugs Music. But in 2019, Netflix and local video streaming services like Wavve and TVING took up three spots.

3. No more piracy: Koreans more willing to pay for digital content than ever before

Psychological barriers had been high in Korea for consumption of paid content. People were mostly reluctant to pay for video-on-demand services and were used to downloading pirated films over the internet. Consuming paid digital content was deemed to belong only to tech-savvy young generation.

But this perception has changed. According to Hyundai Card’s joint survey with research agency OPENSURVEY, 92.7 percent of the respondents said they have a positive view about spending money on digital content. Of those surveyed, 37.4 percent said their perception has shifted from negative to positive.

4. In a rapidly aging society, the Korean elderly emerge as key consumer group

As Korea becomes a more aged society, the elderly have also increased their spending on digital content. Spending on digital content by those in their 50s and those aged 60 or more tripled from $1.2 million in 2017 to $3.5 million won in 2019, while spending by those in their 20s saw a two-fold increase between 2017 and 2019.

Noteworthy is the fact that people in their 60s were the most active users of e-book subscriptions. They spent 21 times more on e-books in 2019 than in 2017. Fifty-somethings spent 10 times more on video services over the same period.

5. Credit cards for streaming subscription gain popularity among Koreans

With digital entertainment options becoming more diversified, Korea has seen a series of credit cards targeting digital content subscribers. Hyundai Card also rolled out a new credit card "DIGITAL LOVER," offering an approximately $8 discount monthly from expenditure on digital streaming services such as Netflix and YouTube Premium.

"Against the backdrop of recent surge in digital content subscriptions propelled by the popularity of video streaming services," said a Hyundai Card spokesperson. "We took into account changes in consumer spending trend and life style when designing the card, not conventional elements such as their occupation or income. That led to upbeat response from customers."

Hyundai Card transaction data analysis

Period: Jan. 2017 ~ Dec. 2019

Target: Digital content service providers

Field

Service Providers

Video

Netflix, YouTube Premium, Watcha Play, Wavve, TVING

Music

Melon, Bugs Music, Genie Music

Books

Ridibooks, Millie’s Library

Consumer survey

Period: April 29, 2020

Target: 1,000 people aged 20 or over (Survey by OPENSURVEY)

Age

No. of men

No. of women

20~29

100

100

30~39

100

100

40~49

100

100

50~59

100

100

60 and over

100

100

 

 

 

PR Newswire
Made-in-China.com to hold online synchronous event for the 127th Canton Fair

NANJING, China, June 2, 2020 /PRNewswire/ — With the development of digital technology, there is a tendency for traditional business going online. Also, the COVID-19 pandemic is still spreading around the world. Therefore, in order to keep pace with the times and in response to the many nations’ strict lockdown for the pandemic, the 127th China Import and Export Fair ("Canton Fair" or "The Fair") will be held online from June 15 till June 24, in lieu of a physical exhibition.

The first virtual Canton Fair will create an online international trade platform of quality and specialty products that covers 16 major export categories, such as manufacturing and processing machinery, industrial equipment, health and machine, and consumer goods, and etc.

In order to explore new possibilities for efficient international trade, the Canton Fair will set up a cross-border e-commerce zone. And Made-in-China.com, as the leading comprehensive third-party B2B e-commerce platform in China, has been successfully selected as one of the official partners to have a seat in this cross-border e-commerce zone. Made-in-China.com will hold online simultaneous events from June 15th, 2020, which will create digital, immersive and convenient sourcing experience for global buyers.

With a focus on global trade and e-commerce, Made-in-China.com has been dedicated to developing technologies about SMART EXPO since 2016. Combining the advanced technologies like VR, 360 virtual tour and graphic interchange format, with abundant experiences of holding expos, Made-in-China.com created the original mode of "internet + expo" in China’s exhibition field while keeping improving and taking it to a higher level.

SMART EXPO simulates the experience which buyers could obtain during the traditional expos. 3D exhibition hall and virtual booth create a real participation experience for buyers. The online meeting room let buyers have the chance to negotiate with suppliers and send instant inquiries online. You can also set the meeting as private to protect your privacy and avoid interruption.

Moreover, SMART EXPO offers a series of customized services which buyers can only experience online. For example, the multilingual instant translation service will eliminate their worry about communication in different languages. They can also exchange their business cards whenever they want for further negotiation.

There are also services to help buyers to verify the qualification of suppliers. 360 virtual tour and video display of products can give buyers a direct understanding of suppliers’ enterprise, scale and quality. Meanwhile, buyers can check the ‘Audit Reports’ to get authentic information about suppliers and their products.

In this unprecedented time, Made-in-China.com will vow to hold as many SMART EXPOs as possible. "We will mobilize all our manpower and technical resources, improve our supporting services, help global buyers to do cross-border business conveniently and contribute to facilitating global economic growth," said by Li Lei, the general manager of Made-in-China.com.

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