Tag Archives: FIN

OLIVER WYMAN STRENGTHENS INDONESIA CAPABILITIES WITH SENIOR APPOINTMENT


JAKARTA, Indonesia, Aug. 14, 2023 /PRNewswire/ — Global management consultancy, Oliver Wyman, today announced the addition of Erik Koenen as a Partner based in Jakarta. With his extensive experience in the Financial Services sector, Erik will collaborate with Oliver Wyman’s Southeast Asia leadership team to enhance the firm’s offerings in Indonesia.

This strategic move represents Oliver Wyman’s commitment to further invest in the Indonesian market. Currently serving a diverse range of clients in the Financial Services, Energy and Natural Resources, and Transportation sectors, the firm aims to deepen its capabilities in Indonesia, specifically in the areas of Digital Transformation (including AI and Advanced Analytics), Climate and Sustainability, Business Performance Improvement, and Enterprise Risk Management.

Seo Young Lee, Partner and Head of Southeast Asia, said: “Indonesia’s robust economic growth[1] and promising outlook have driven demand for Oliver Wyman’s expertise as businesses recover from the pandemic. The addition of Erik to the team, at this inflection point positions us well to meet these growing client needs in Indonesia and the region.”

Erik added: “I have always admired Oliver Wyman and its talented people, who approach challenges with humility and focus, to help organizations navigate complex and unprecedented issues. In Indonesia, I aim to further strengthen the firm’s local strategy and commitment to provide insightful guidance, work alongside our clients, and deliver breakthrough impact.”

With over 25 years of experience, including 16 years in Indonesia, Erik has held senior positions in prominent technology conglomerates, consulting firms, and banks. Prior to joining Oliver Wyman, Erik worked at Google Cloud, where he led the technology strategy targeted at the largest population of digital natives in Southeast Asia.

About Oliver Wyman

Oliver Wyman is a global leader in management consulting. With offices in more than 70 cities across 30 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has more than 6,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a business of Marsh McLennan [NYSE: MMC].  

For more information, visit www.oliverwyman.com. Follow Oliver Wyman on Twitter/X @OliverWyman

Boqii Announces ADS Ratio Change

SHANGHAI, Aug. 11, 2023 /PRNewswire/ — Boqii Holding Limited (“Boqii” or the “Company”) (NYSE: BQ) today announced that it will change its ratio of its American Depositary Shares (“ADSs”) to Class A ordinary shares from one (1) ADS representing four and one-half (4.5) Class A ordinary shares to one ADS representing fifteen (15) Class A ordinary shares (the “ADS Ratio Change”). The ADS Ratio Change is expected to become effective on or about August 21, 2023 (U.S. Eastern Time) (the “ADS Ratio Change Effective Date”).

For Boqii’s ADS holders, the ADS Ratio Change will have the same effect as a 3-for-10 reverse split on the existing ADSs. Each ADS holder on the ADS Ratio Change Effective Date will be required on mandatory basis to surrender to The Bank of New York Mellon, as depositary, (the “Depositary”) for Boqii’s ADS program, every 10 old ADSs held in exchange for 3 new ADSs. No action is required by holders of uncertificated ADSs to effect the ADS Ratio Change as the change will be effected on the books of the Depositary.  

No fractional new ADSs will be issued in connection with the ADS Ratio Change. Instead, the Depositary will attempt to sell any fractional entitlements to new ADSs and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes and expenses) will be distributed to the applicable ADS holders by the Depositary. Boqii’s ADSs will continue to be traded on the New York Stock Exchange under the ticker symbol “BQ”. As a result of the ADS Ratio Change, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the ADS Ratio Change will be equal to or greater than ten-thirds (10/3) times the ADS price before the change.

 About Boqii Holding Limited

Boqii Holding Limited (NYSE: BQ) is a leading pet-focused platform in China. We are the leading online destination for pet products and supplies in China with our broad selection of high-quality products including global leading brands, local emerging brands, and our own private label, Yoken, Mocare and D-cat, offered at competitive prices. Our online sales platforms, including Boqii Mall and our flagship stores on third-party e-commerce platforms, provide customers with convenient access to a wide selection of high-quality pet products and an engaging and personalized shopping experience. Our Boqii Community provides an informative and interactive content platform for users to share their knowledge and love for pets.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission (“SEC”), in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Further information regarding such risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact: 

Boqii Holding Limited
Investor Relations
Tel: +86-21-6882-6051
Email: ir@boqii.com

DLK Advisory Limited
Tel: +852-2857-7101
Email: ir@dlkadvisory.com

Genes Tech Group Announces 2023 Interim Results

Total revenue reached approximately NTD749.51 million, representing an increase of approximately 25.63%

Revenue from the the turnkey solutions increased by approximately 59.74% to approximately NTD 373.37 million

Basic earnings per share were NTD7.66 cents

2023 Interim Results Highlights

  • Total revenue reached approximately NTD749.51 million, representing an increase of approximately 25.63%
  • Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD76.34 million
  • Revenue from the turnkey solutions increased by approximately 59.74% to approximately NTD 373.37 million
  • Basic earnings per share were NTD7.66 cents

HONG KONG, Aug. 11, 2023 /PRNewswire/ — Genes Tech Group Holdings Co. Ltd (“Genes Tech Group” or “The Group”, Stock Code: 8257.HK) announces its interim results for the six months ended 30 June, 2023 (“During the period”). During the period, the Group recorded the total revenue of approximately NTD749.51 million, Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD76.34 million. Basic earnings per share were NTD7.66 cents. 

During the period, revenue from the turnkey solutions amounted to approximately NTD373.37 million, representing an increase of approximately 59.74% as compared to the corresponding period of last year and accounting for approximately 49.81% of the Group’s total revenue. The revenue from trading of used SME and parts amounted to approximately NTD376.15 million, accounting for approximately 50.19% of the Group’s total revenue. During the period under review, revenue from the domestic business in Taiwan accounted for approximately 65.74% of the Group’s total revenue.

In 2023, the global semiconductor industry is facing a complicated operating environment affected by weak end market demand and continuous inventory adjustment. It denotes the start of a downward industrial cycle for the semiconductor market. According to the latest forecast report released by the World Semiconductor Trade Statistics (WSTS), due to the weak demand from smartphones and personal computers, the two major semiconductor downstream sectors, the global semiconductor sales forecast for 2023 is significantly revised downwards to USD515.095 billion, representing a decrease of 10.3% as compared to 2022, which is the first contraction since 2019. However, WSTS also points out that the demand in artificial intelligence (AI), industry, automotive electronics and other fields remains strong, which can make up for the weak demand for semiconductors in the consumer field. WSTS forecasts that global semiconductor sales will increase by 11.8% year-on-year to USD575.997 billion in 2024 and hitting a record high. According to the Semiconductor Equipment and Materials International (SEMI), it is estimated that global sales of SME by OEMs in 2023 will decrease to USD87.4 billion, representing a decrease of 18.6%. A strong rebound to USD100 billion is expected in 2024.

On the other hand, artificial intelligence (AI) will be a key area of the High-tech industry. The development and coopetition of the global semiconductor industry will remain in a state of change and complexity. The Group will pay close attention to the changes in the market environment, respond to market changes in a prudent and prompt manner to seize development opportunities, and actively explore market development opportunities.

Mr. Yang Ming-Hsiang, Chairman and Chief Executive Officer concluded: “In general, there is a differentiation in the consumer and industry, automotive electronics fields of the global semiconductor market. The growth in sectors including telecommunications, consumer electronics and data centers will slow down in the coming years due to the weak demand in the consumer sector caused by inflation and rising interest rates. Benefiting from the booming emerging industries such as new energy vehicles, autonomous vehicles (ADAS) industry, high performance computing (HPC), cloud infrastructure investment, industrial automation, artificial intelligence (AI), Internet of Things (“IoT”), metaverse and wearable devices, there will be a strong demand, driving a strong growth in automotive semiconductors and industrial semiconductors. The Group will increase its efforts in talent exploration, strengthen its innovation and R & D capabilities, and improve the core competitiveness of the Group to further expand market share and create long-term value for shareholders.

About Genes Tech Group Holdings Co. Ltd (Stock Code: 8257.HK)

Genes Tech Group Holdings Co. Ltd is turnkey solution provider and exporter of used SME and parts in Taiwan. Since the commencement of its business in 2009, the Group mainly engaged in providing turnkey solution of used SME and parts to its customers and modifying and/or upgrading the semiconductor equipment of its production systems according to customers needs. In addition, the Group is also engaged in the trading of used SEM and parts. The used SME and parts supplied by the Group included furnaces, clean tracks and other related items, which were used at the front-end of the semiconductor manufacturing process, wafer fabrication such as deposition, photoresist coating and development, and these were extensively applied in mobile phones, game consoles, DVD players, automotive sensors and other digital electronic products.

Source: Genes Tech Group Holdings Co. Ltd

Sunyard Android Mobile Terminal i80 Certified by PURE

HANGZHOU, China, Aug. 11, 2023 /PRNewswire/ — Sunyard Technology, the leading global payment solution provider, announced that its Android Mobile Payment Terminal i80 got PURE certification recently for security priority and authentication. The i80 Android mobile payment terminal is also implemented under all round certification, including PCI PTS 6.x, Visa payWave, Mastercard Contactless, Discover, JCB, Rupay, etc.

Catering to the trend, the operating system of i80 is improved to Android 10. And the functions of fingerprint and dual SIM cards are realized since design to easily expand its business and make valuable contributions to the company’s long-standing collaboration with various partners.

Powered by a customized Android O.S., the i80 is designed with a special security processor and a triple-level PUK system. In this connection, multiple protections, including self-destruction of security, can come in handy to prevent your information from leakage.

For longer operation, trouble-free experience, and more effective performance, the i80 uses a high-capacity battery with low consumption. Tested by authority, the unfailing service of the i80 shall not be less than 150 hours in the normal condition in practice, even equipped with a stunning high-definition 5.5-inch color touchscreen display.

At Sunyard, we’re constantly expanding and evolving our portfolio of products to help you grow your business. Everything we do is backed by the expertise, support, and commitment that you already trust us for.

Our culture of care means we invest time, energy, and resources to develop products you can count on. We care about quality as much as you do. Whether you need advice, more information or to make an order, we’re here to help.

Get in touch:
www.sydtech.com.cn
www.sunyard.com

About Sunyard

Sunyard Technology Co., Ltd, the leading global payment solution provider, is offering cost-effective, superior quality payment terminals and financial software products including payment password system, same-city liquidation system, corporate e-bank system, risk alarm system, etc. As the earliest listed financial IT company in China (SSE Code: 600571), Sunyard has achieved the leading position in the field of financial industry with more than two decades of professional experience. Based on the solid foundation in the domestic market, Sunyard is committed to expanding the international market according to its development strategy.

Contact: info@sunyard.com

Australia’s ISPT Uses SS&C to Advance Property Trust Performance Measurement


SS&C Sylvan meets diverse requirements of leading property manager of superannuation funds

WINDSOR, Conn., Aug. 9, 2023 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced ISPT, one of the largest property fund managers in Australia, has implemented SS&C Sylvan for performance measurement and attribution.

ISPT is one of Australia’s largest unlisted property fund managers, with more than AUD22 billion in funds under management through investments in commercial, retail, industrial, education, health, social infrastructure and residential development. SS&C Sylvan, a market-leading, cloud-based performance measurement and attribution solution, replaced ISPT’s proprietary system to automate and optimize processes.

“SS&C Sylvan has delivered value from the outset. The flexible system caters to our unique industry’s needs while providing our teams with more time and insights to focus on strategic investments to benefit our investors,” said Damien Damiano, Senior Manager, Performance and Investor Reporting, ISPT. “The solution’s capabilities—full transparency of returns, metrics reconciled to the accounting source and rich reporting dashboards—are matched by SS&C’s robust professional service competencies, including a fast, efficient implementation.”

Sylvan now automates ISPT’s data ingestion and simultaneously calculates capital and income returns at the fund and individual property levels. Additionally, Sylvan provides enhanced attribution analytics to accommodate ISPT’s property-specific hierarchy through cloud-based customizable dashboards and flexible self-service reporting.

As part of the implementation, Sylvan integrated ISPT’s accounting book of records (ABOR) by onboarding all historical transactions and property valuations and reconciling data to the original source of truth. Sylvan’s robust transaction mapping capabilities support the automated ingestion of all holdings and transaction records. Sylvan’s user-defined attribution (UDA) tool, which lets users modify methodologies to match firm-specific processes and create bespoke methodologies, helps ISPT satisfy diverse property performance and reporting requirements.

“We are pleased Sylvan’s award-winning flexibility accommodates a wide range of requirements to help ISPT keep pace with varied property investments,” said Christy Bremner, Senior V.P. and General Manager, SS&C Technologies. “Through effective project scoping, communications and management, we delivered an implementation to bring ISPT timely reporting and deeper insights without having to increase headcount or resort to additional tools.”

Learn more about SS&C Sylvan here.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

SOURCE: SS&C

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

Follow SS&C on Twitter, LinkedIn and Facebook.

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LG Display Wins 2023 Bosch Global Supplier Award

SEOUL, South Korea, Aug. 7, 2023 /PRNewswire/ — LG Display, the world’s leading innovator of display technologies, announced today that it has received a ‘Bosch Global Supplier Award.’ The company receives this prestigious award in the category “raw materials and components”, demonstrating its unmatched leadership in the automotive display market.

LG Display Wins 2023 Bosch Global Supplier Award
LG Display Wins 2023 Bosch Global Supplier Award

The Bosch Group, a global leading supplier of technology and services, reserves its “Bosch Global Supplier Award” for only 46 suppliers from 11 countries of roughly 35,000 suppliers worldwide in this year, recognizing the most outstanding performers in the manufacturing and supply of raw materials, products, and services on a biennial basis since 1987.

LG Display and Bosch have engaged in a decade of strategic collaborations since 2012, during which LG Display has demonstrated distinctive technical capabilities, stringent quality management, and reliable supply capabilities. The company is well known for successful incorporating automotive OLED displays into premium automotive brands’ next generation of projects.

As a leading global supplier of digital clusters (instrument clusters) and center fascias (central control units) to top-tier automotive component makers and original equipment manufacturers (OEMs), LG Display continues to lead the market having achieved the highest global market share for the 5th consecutive year from 2018 to 2022 – based on revenue generated by premium automotive displays measuring 10 inches or larger.

LG Display leverages its technological prowess in automotive OLEDs and high-end LCD displays to expand sales and orders while enhancing its position as the industry’s global leader.

LG Display set a new standard for mobility when it introduced the world’s first Tandem OLED for automotives back in 2019. Tandem OLED embodies its groundbreaking two-stack OLED technology, where an extra organic emitting layer is added to the existing layer to deliver brighter screens while effectively dispersing energy across OLED components for optimal stability and a longer lifespan. LG Display will start mass-producing its second-generation Tandem OLED, which heightens the efficiency of organic light-emitting components, this year to further widen the technological gap between itself and competitors.

P-OLED is LG Display’s unique technology that incorporates innovative Tandem OLED into a flexible plastic substrate to make the design slim and light while maintaining unrivaled picture quality unique to OLEDs. P-OLED uses 60% less power and weighs 80% lighter than LCD displays, making it the ultimate solution for electric vehicles in particular. Moreover, the company’s automotive P-OLED has received the Eco-Product Certification Mark from SGS, a global leader in inspection, verification, testing, and certification, recognizing their excellence in minimizing the use of hazardous substances.

Moreover, LG Display has been strengthening its competitive edge in the market with its various products and technologies, including ATO (Advanced Thin OLED), which delivers the core strength of OLED for automotive displays at a more competitive price point, LTPS LCD, which excel in large-scale implementation and high-resolution rendering, IPS (In-Plane Switching), which significantly enhanced the viewing angles, SPM (Switchable Privacy Mode), which controls a viewing angle for safe driving. What’s more, it has become the first in the industry to introduce a flame-resistant certification program to every automotive panel in order to boost safety and stability.

“We are extremely proud to have been recognized as automotive display maker by Bosch. This award acknowledges our endless pursuit of the perfect customer experience, a journey that promotes innovation at every step of the way which enables us to deliver unparalleled technologies, quality, and support to our customers,” said Byeong-koo Kim, Senior Vice President and Head of Auto Business Group at LG Display. “We will continue to strengthen our order-based business’s competitiveness based on our revolutionary technologies, especially P-OLED and LTPS LCD.”

About LG Display

LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 70,707 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com.

Media Contact:

TaeHyun Tommy Jang, Assistant Manager, Global PR Team
Email: tommy.jang@lgdisplay.com

Joo Yeon Jennifer Ha, Manager, Global PR Team
Email: hjy05@lgdisplay.com 

Boqii to Hold Extraordinary General Meeting on September 11, 2023

SHANGHAI, Aug. 5, 2023 /PRNewswire/ — Boqii Holding Limited (“Boqii” or the “Company“) (NYSE: BQ), a leading pet-focused platform in China, today announced that it will hold an extraordinary general meeting (the “EGM“) on Monday, September 11, 2023 at 3:00 p.m. (China Time) / 3:00 a.m. (Eastern Time) at the offices of Building 9, No. 388, Shengrong Road, Pudong New District, Shanghai, People’s Republic of China, 201210.

The board of directors of the Company has fixed the close of business on August 14, 2023 (Eastern Time), as the record date (the “Record Date“) for determining the shareholders entitled to receive notice and to attend and vote at the EGM or any adjourned or postponed meeting thereof pursuant to the memorandum and articles of association of the Company currently in effect. Holders of record of the Company’s Class A ordinary shares or Class B ordinary shares at the close of business on the Record Date are entitled to notice of, to attend and vote at, the EGM or any adjournment or postponement thereof. Holders of the Company’s American Depositary Shares (the “ADSs“) who wish to exercise their voting rights for the underlying Class A ordinary shares must act directly through the depositary of the Company’s ADS program, The Bank of New York Mellon (the “Depositary“), if the ADSs are held by holders on the books and records of the Depositary or indirectly through a bank, brokerage or other securities intermediary if the ADSs are held by any of them on behalf of holders. The resolutions put to the vote at the EGM will be decided by poll.

The notice of the EGM, which sets forth the resolutions to be submitted to shareholder approval at the meeting, is available on the Company’s website at http://ir.boqii.com.

The Company expects to continue implementing additional further funding options, including issuances of equity securities, in the foreseeable future, to optimize its business and seize opportunities to grow and to create greater value for shareholders.

About Boqii Holding Limited

Boqii Holding Limited (NYSE: BQ) is a leading pet-focused platform in China. We are the leading online destination for pet products and supplies in China with our broad selection of high-quality products including global leading brands, local emerging brands, and our own private label, Yoken, Mocare and D-cat, offered at competitive prices. Our online sales platforms, including Boqii Mall and our flagship stores on third-party e-commerce platforms, provide customers with convenient access to a wide selection of high-quality pet products and an engaging and personalized shopping experience. Our Boqii Community provides an informative and interactive content platform for users to share their knowledge and love for pets.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Further information regarding such risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. 

For investor and media inquiries, please contact: 

Boqii Holding Limited
Investor Relations
Tel: +86-21-6882-6051
Email: ir@boqii.com

DLK Advisory Limited
Tel: +852-2857-7101
Email: ir@dlkadvisory.com

Tongwei Group Made its Debut on Fortune Global 500 List

CHENGDU, China, Aug. 4, 2023 /PRNewswire/ — On August 2, the 2023 Fortune Global 500 list was officially released. Tongwei Group made its debut on the list with a revenue of CNY 2148.82 billion and ranked 476th, becoming the first photovoltaic company in the world to enter the Fortune Global 500. At the same time, Tongwei Group ranked 34th on the Return on Equity (ROE) list with a net asset return rate of 42.9%, making it the only mainland Chinese company among the top 50 companies with the highest ROE. The inclusion of Tongwei Group in the Fortune Global 500 marks its formal entry into the “club” of global giant enterprises and signifies the firm commitment to comprehensive internationalization.

Tongwei Group Made its Debut on Fortune Global 500 List
Tongwei Group Made its Debut on Fortune Global 500 List

Over the past 41 years, Tongwei Group has achieved steady development. As a global leader in high-purity polysilicon and solar cells, Tongwei Group currently holds the largest global market share in high-purity polysilicon production and sales. Its solar cell shipments have remained at the top globally for six consecutive years. In 2022, Tongwei expanded to the Module sector and its Module shipments entered the top ten globally. Its photovoltaic products are exported to more than 40 countries and regions worldwide. Tongwei also pioneered the “Fishery & PV Integration” development model, with 52 “Fishery-PV Integration” bases established, achieving a cumulative grid-connected capacity of 3.4 GW. The high-quality and clean photovoltaic power has been benefiting countless households.

From its foundation in China to its global expansion, from deepening Chinese manufacturing to leading Chinese innovation, Tongwei Group, as a Fortune Global 500 company, will seize opportunities, utilize every technological innovation and quality product to contribute to the global response to climate change, promote green energy transformation, and achieve carbon neutrality goals. It will provide China’s solutions and contribute the strength of the Tongwei Group.

Yellow River Delta Haichuanghui Overseas Returnees Club Established in Dongying

DONGYING, China, Aug. 3, 2023 /PRNewswire/ — On July 29, the launch ceremony of “Stay in Dongying” Overseas Returnee Talent Exchange Salon & Yellow River Delta Haichuanghui Overseas Returnees Club was held at the Optical Valley Futuristic City’s Overseas Returnees Innovation and Entrepreneurship Park in the Dongying Economic and Technological Development Zone of Shandong Province.

The launch ceremony of "Stay in Dongying" Overseas Returnee Talent Exchange Salon & Yellow River Delta Haichuanghui Overseas Returnees Club held at the Optical Valley Futuristic City's Overseas Returnees Innovation and Entrepreneurship Park in the Dongying Economic and Technological Development Zone
The launch ceremony of “Stay in Dongying” Overseas Returnee Talent Exchange Salon & Yellow River Delta Haichuanghui Overseas Returnees Club held at the Optical Valley Futuristic City’s Overseas Returnees Innovation and Entrepreneurship Park in the Dongying Economic and Technological Development Zone

All the time, the Dongying Economic and Technological Development Zone has always valued the precious resource of overseas returnees and constantly improved the services for them. It has built a high-standard special industrial park, the first one of the kind to serve and support the innovation and entrepreneurship of overseas returnees in Dongying. The Dongying Overseas Returnees Innovation and Entrepreneurship Park has a total floor area of over 5,300 square meters, equipped with various service facilities such as roadshow hall, gyms and smart shared conference rooms, thus providing innovative space and entrepreneurship service for the high-level talents and graduates returning from abroad and retaining the excellent innovation and startup projects.

In order to further support the innovation and entrepreneurship of overseas returnees, the Dongying Economic and Technological Development Zone has released “six favorable policies” in the “Administrative Regulations of the Dongying Overseas Returnees Innovation and Entrepreneurship Park”, and developed supporting policies to provide full-cycle support such as startup space, startup funding, startup support and rewards for achievements. 

Thus far, the Dongying Economic and Technological Development Zone has attracted 21 startup enterprises established by overseas returnees from renowned universities of countries such as the US, the UK and South Korea, introduced 13 talents with a degree of master or higher; it has launched more than 20 “innovation and entrepreneurship” service events such as talent salons, online promotion events, policy publicity events and job fairs, having served an accumulation of 200 overseas returnees; it has fostered 3 high-tech enterprises, 1 enterprise winning an award in the Shandong Entrepreneurship Competition and the enterprises in the park have obtained 44 various inventions and software copyrights.

Image Attachments Links:

Link: https://iop.asianetnews.net/view-attachment?attach-id=441718

Caption: The launch ceremony of “Stay in Dongying” Overseas Returnee Talent Exchange Salon & Yellow River Delta Haichuanghui Overseas Returnees Club held at the Optical Valley Futuristic City’s Overseas Returnees Innovation and Entrepreneurship Park in the Dongying Economic and Technological Development Zone

“Kangsters”, A South Korean Able-Tech Startup, Selected for Acceleration Program by Praxis Labs

DOVER, Del., Aug. 2, 2023 /PRNewswire/ — The landscape of innovation is set to witness a groundbreaking moment as Kangsters Inc., a pioneering able-tech startup hailing from South Korea, has been handpicked to participate in the 2023 Praxis redemptive acceleration program. This achievement positions Kangsters as the first-ever Korean startup to secure investment from the esteemed Praxis Fund, propelling its smart wheelchair treadmill called Wheely-X on a global scale.

Praxis Labs is renowned for its forward-thinking entrepreneurs, visionary investors, and industry leaders committed to fostering cross-border collaborations; and propelling revolutionary ventures that address global challenges.

Kangsters, a member company of Born2Global Centre, has emerged as a trailblazer in the able-tech industry, driven by a passionate team committed to reshaping the way we perceive and interact with technology, particularly in the field of able-tech. Its groundbreaking innovation, Wheely-X, is an advanced smart wheelchair treadmill that empowers individuals with mobility impairments to enhance their physical fitness and overall well-being.

The selection of Kangsters for the 2023 Praxis Labs offers a golden opportunity for the startup to network with influential entrepreneurs and investors from around the world. This prominent platform will enable Kangsters to showcase the Wheely-X and foster potential partnerships that could accelerate their global expansion.

Tyrion K. Kim, the founder and CEO of Kangsters said “this recognition is a testament to our team’s unwavering dedication to developing transformative solutions that positively impact the lives of millions of people worldwide. We firmly believe that this opportunity will not only enable us to scale our business but also foster greater inclusivity in society.”

As Kangsters embarks on this remarkable journey, the company carries the aspirations of not only its dedicated team and supporters but also the hopes of the entire able-tech industry. This milestone achievement is set to inspire other Korean startups to pursue their innovative ideas and impact the world on a global scale, further solidifying Korea’s position as a hub for groundbreaking technology and entrepreneurship.