Tag Archives: FIN

PR Newswire

JX Luxventure receives Nomination for the “Best Software Solution Provider” Award

Leave a comment

HAIKOU, China, June 3, 2022 /PRNewswire/ — JX Luxventure Limited (Nasdaq: LLL) (the “Company”), a company delivering comprehensive products solutions to global elite families serviced by our business customers with business segments covering menswear, cross-border merchandise and tourism, announced today that that on June 2, 2022, it received a nomination for “Best Software Solution Provider” award at the 2022 Fifth Annual Global Cross-border E-Commerce Forum. 

Ms. Sun “Ice” Lei, Chief Executive Officer of the Company commented: “Other nominees for this award are all well-known software and cross-border merchandise providers in the world, including Oracle China, Shoplazza and GiiMall.  We are truly honored that the Company, being the only early-stage company, was nominated for this award.   This is the affirmation of the professional work done by our technology team, led by our CTO, Liu Ze, an expert in Artificial Intelligence, Internet of All Things and Block Chain.  We have identified technology consulting as a new business segment and on June 1, 2022, we signed the first Technology Consulting Agreement with a value of USD1,000,000.   This is a great beginning of our technology consulting business and paved a solid foundation for the future.”

About JX Luxventure Limited

Headquartered in Haikou, China, JX Luxventure Limited is a company delivering comprehensive products solutions to global elite families serviced by our business customers with business segments covering menswear, cross-border merchandise and tourism. To learn more about the Company, please visit its corporate website at en.jxluxventure.com.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of JX Luxventure Limited, and its subsidiary companies. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Cision View original content:https://www.prnewswire.com/news-releases/jx-luxventure-receives-nomination-for-the-best-software-solution-provider-award-301560831.html

PR Newswire

36Kr is approaching an inflection point with its strong 2022Q1 financial results

Leave a comment
  • total revenues increased by 14% YoY; net income reached a record high since IPO of RMB32.6 million

BEIJING, June 1, 2022 /PRNewswire/ — The US-listed company 36Kr Holdings Inc. (NASDAQ: KRKR) just reported its unaudited financial results for the first quarter of 2022 ended March 31, 2022. Total revenues increased by 14% year-over-year to RMB49.6 million; net income reached a record high since IPO of RMB32.6 million. Also, the newly incubated business 36Kr Enterprise Service Review platform showed robust growth momentum, and it would become the second growth curve for 36Kr.

36Kr is approaching an inflection point with its strong 2022Q1 financial results total revenues increased by 14% YoY; net income reached a record high since IPO of RMB32.6 million
36Kr is approaching an inflection point with its strong 2022Q1 financial results total revenues increased by 14% YoY; net income reached a record high since IPO of RMB32.6 million

As a prominent brand and a pioneering platform dedicated to serving New Economy participants in China, 36Kr consistently strives to broaden its media service boundaries and refine its business model while building a closed-loop service framework with new products and models. Both online advertising services revenues and enterprise value-added services revenues increased substantially in the first quarter.

As 36Kr’s cash-cow business, advertising services performed remarkably well in the first quarter, achieving RMB37.6 million in revenue, an increase of 13% year-over-year. Its advertising performance in the first quarter was well above the industry average. Based on the recently released public companies’ earnings reports, Tencent’s (0700. HK) advertising revenue decreased 17% year over year in 2022Q1, iQiyi’s (NASDAQ: IQ) advertising revenue decreased 30% year over year, and Autohome(NASDAQ: ATHM) advertising revenue decreased over 50% year over year.

Leveraging its short-form video, 36Kr achieved a new high in terms of contract size for its advertising services during the quarter. 36Kr helped various well-known companies, including Intel, Panasonic, Changan Auto, Toyota, BYD, Dali Education, and iFLYTEK, promote their brand concepts and create product launch videos. In the future, the short-form video advertisement will propel the expansion of 36Kr service presence and raise the advertising revenue ceiling.

36Kr enterprise value-added service offerings, which include integrated marketing services, online/offline events, consulting services, cater to different demands of customers. In the first quarter of 2022, 36Kr Enterprise value-added services reached RMB9.3 million, growing 35% year-over-year in the first quarter. Both the number of enterprise clients and the value of contract execution significantly increased year over year. During the first quarter, 36Kr entered into partnerships with many enterprise clients as well as government agencies, and continued to diversify its client roster.

36Kr’s net income reached RMB32.6 million in the first quarter of 2022. This is 2nd consecutive quarter of profitability, and a record-high quarterly net income since its IPO in November 2019. The robust financial results implied 36Kr business vitality and superior operational efficiency. This also can be seen as an inflection point of the company, where it is bottoming out from its previous uncertainties.

To embrace the historic opportunities in the digital transformation and technology upgrade trends that have ushered the SaaS industry into an era of fast growth, 36Kr incubated its new business, Enterprise Service Review Platform, in late 2020.

Leveraging 36Kr vast enterprise database, proven content strengths, and deep understanding of client pain points, 36Kr is well-positioned to build 36Kr Enterprise Service Review Platform as a leading professional platform for enterprise-level applications and services selection in China. 36Kr Enterprise Service Review Platform effectively fills the information gap between sellers and buyers of enterprise services and aspires to be the go-to SaaS selection platform in China. 36Kr Enterprise Service Review Platform provides in-depth reports, rankings, and feedbacks for applications and services from real users. It also enables all categories of enterprise service providers to showcase their products, address the dynamic feedbacks of users, as well as capture potential customer needs and sales leads.

As of the first quarter of 2022, 36Kr Enterprise Service Review platform included close to 6,000 software applications and accumulated approximately 21,000 genuine comments from real users, up 27% sequentially, while its monthly active users (MAUs) reached around 900,000, up 49% sequentially. 36Kr Enterprise Service Review platform has become a leading, comprehensive, authoritative, objective, and independent platform in China for thousands of enterprises to make their procurement decisions or acquire customers for SaaS applications and services. The platform utilizes 36Kr enterprise network communities to boost traffic, build an enterprise services alliance community.

2022 is the year that 36Kr’s Enterprise Service Review Platform kicked off its initial commercialization. Up to now, 36Kr has signed contracts with Kingdee, HiteVision, and EC SCRM and will empower these clients in customer acquisition, brand management, and marketing services.

Riding the waves of industry upgrades and digital transformation amid the rise of new consumption, advanced technology, and the booming of China’s New Economy, 36Kr will seize this historic opportunity to build a system of optimized products and services, achieving faster and higher-quality business growth. This will result in a complete reshape of 36Kr’s business fundamentals, prompting the market to re-assess 36Kr’s valuation.

Mr. Dagang Feng, co-chairman and CEO of 36Kr commented that “We kicked off 2022 with robust first-quarter results, with 14% year-over-year growth in total revenues and a record high quarterly net income since our IPO of RMB32.6 million. We are also encouraged to see our user engagement metrics continue to improve, demonstrating our enhanced brand influence and elevated value proposition to our consumers. Notably, our new business initiative, 36Kr Enterprise Service Review platform continued its strong growth trajectory, with major operating metrics improving substantially year-over-year. Looking ahead, we will continue to be the torchbearer of China’s New Economy space, and we believe we are well-positioned to seize the immense opportunities in the New Economy-driven growth prospects and scale new heights as we start the next chapter of our development.”

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/36kr-is-approaching-an-inflection-point-with-its-strong-2022q1-financial-results-301558713.html

PR Newswire

Buy Now, Pay Later Solutions to Unlock Growth Potential for B2B Companies

Leave a comment

Global buy now, pay later market to reach a five-fold growth of $656.34 billion by 2026 with omnichannel technology and data collection, says Frost & Sullivan

SAN ANTONIO, May 31, 2022 /PRNewswire/ — Zero-interest fees and flexible repayment plans are vital in boosting the global buy now, pay later (BNPL) market, according to Frost & Sullivan’s latest report. Emerging as an alternative credit payment approach, BNPL aims to meet the need of younger consumers who often have a limited credit history and low credit scores. The global BNPL market is expected to reach $656.34 billion by 2026 from $136.55 billion in 2021, registering exponential growth at a compound annual growth rate (CAGR) of 36.9%.

Buy Now, Pay Later Solutions to Unlock Growth Potential for B2B Companies
Buy Now, Pay Later Solutions to Unlock Growth Potential for B2B Companies

For further information on this analysis, Global Buy Now, Pay Later Growth Opportunities, please click here.

“The increasing use of next-generation platforms in digital and e-Commerce spaces has revamped payment methods and enabled customers to control their spending,” explained Dewi Rengganis, Information & Communication Technology Industry Analyst at Frost & Sullivan. “The rise of BNPL can help satisfy consumers’ demand by offering faster credit financing with zero interest fees, compared to legacy payment methods that typically charge up to a 60% annual percentage rate (APR).”

Rengganis added: “Innovative solutions, such as customer-focused apps, point of sale (POS), and merchant commerce solutions, will be essential for facilitating the widespread adoption of BNPL. Data-driven platforms are crucial for delivering customer experience and driving the market growth.”

Customers’ surging adoption of BNPL methods presents the following growth opportunities for its market participants:

  • Business-to-business (B2B) credit product: B2B customers tend to make repeat purchases and have payment terms for more than 30 days. Businesses can improve their cash conversion cycle, increase revenue growth, streamline reconciliation tasks, and digitize trade credit processes.
  • Omnichannel technology and data collection: A holistic customer experience can be achieved through customer data collection. Creating a partnership with artificial intelligence (AI)-driven technology providers or building in-house data warehouse systems will aid BNPL providers in producing positive omnichannel experiences and a seamless customer shopping journey.
  • Expansion to emerging markets: The growing awareness of the BNPL methods in under-served regions provides ample opportunities for BNPL providers to expand to emerging markets and reach a larger customer and merchant base.

Global Buy Now, Pay Later Growth Opportunities is the latest addition to Frost & Sullivan’s ICT research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Global Buy Now, Pay Later Growth Opportunities

PCCB-65

Contact:

Mariana Fernandez 
Corporate Communications 
E: Mariana.Fernandez@frost.com 
https://www.frost.com

PR Newswire

Thailand moving ahead to develop ‘Innovation City’ and reconnect the world

Leave a comment
  • Strong spatial potential of Bangkok explored and analyzed to attract innovation-driven enterprises from around the world
  • The country remains in the Top 50 in Global Startup Ecosystem Index   
  • Startup x Innovation Thailand Expo 2022 (SITE 2022) to be held hybridly in June this year  

BANGKOK, May 30, 2022 /PRNewswire/ — Thailand is forging forward with the development of its first smart innovation hub, led by the National Innovation Agency (Public Organization), better known as NIA. This is accomplished by exploring and analyzing the spatial potential of Bangkok and other significant cities for a specific purpose. After the country’s reopening from the COVID-19 pandemic, Bangkok is intended to be a regional innovation hub for innovation-friendly investment, regional air travel hub, and the creation of innovation districts, with the goal of attracting innovation-based entrepreneurs and stimulating strategic partnerships from around the world.

Dr Pun-Arj Chairatana, Executive Director of the National Innovation Agency (NIA), Thailand
Dr Pun-Arj Chairatana, Executive Director of the National Innovation Agency (NIA), Thailand

Thailand also maintains its position in the Top 50 of the Global Startup Ecosystem Index 2021, with four of its cities ranking among the first 1,000 cities with the finest infrastructure and resources for fostering the startup ecosystem.

Commenting on the ambitious move, Dr. Pun-Arj Chairatana, Executive Director of NIA, said: “Many cities throughout the world have policies in place to improve the quality of life and the economy, as well as to make their communities more livable. To make the city a sustainable city, innovation is employed to promote problem-solving and handle difficulties in a fast and effective manner. Bangkok is a city that is constantly expanding. Urbanization is critical, and it invariably requires policies that encourage or provide space for innovation. Such challenges are crucial in supporting the capital’s and the country’s lifestyles and economic prosperity.”

He also said, “To build a brand-related to innovation for Bangkok, it should create an impression that is more than just a city welcoming tourist. What must be pushed intensely is to develop a truly international innovation collaboration space for the community of digital startups, corporates, entrepreneurs, world changers, and innovators. It is a world-class network that wants to help accelerate innovation through fostering co-creation, friendly regulations, and welcoming urban development plans that attract innovative business entrepreneurs. It should also enable connectivity to other cities in order to lessen the concentration of growth and allow for new ways to utilize the resources available in each place. When these cities are discussed, they will have a distinct image, such as being a green city, a clean technology city, or a retail center, which will become a city brand.”

“Many cities designated as Smart Cities or Innovation Cities, such as Barcelona, London, Shenzhen, New York, and other Asian and European cities, must have critical features that are friendly to innovation. They all have the capacity to govern the city’s infrastructure and have regulations that encourage the development of new ideas. It also has the image of a city government that promotes growth through innovation,” said Dr. Pun-Arj.

According to NIA, Thailand has the potential to become an Innovative City in three areas: financial innovation, aviation hub growth, and the creation of innovation districts that invite international investment.

Bangkok as a regional hub for investment in innovation ventures

Bangkok has the potential to become an ASEAN powerhouse for investment in innovation ventures. Previously, investors had the option of choosing between Singapore, Kuala Lumpur, and Jakarta. More global venture capital firms, on the other hand, have chosen to invest in Bangkok because of the city’s reputation as a hotbed of financial innovation, owing to the city’s well-built infrastructure. Furthermore, the city is working to expand opportunities for persons who are skilled or have experience. Efforts have been made to promote the body of knowledge, commercial collaborations, and new business connections. 

The city has a variety of educational institutions that may provide upskilling and reskilling as well as information regarding financial services developments. The country receives advantages in terms of pulling money from both within and beyond the country by building a framework to promote the use of technology to assist the financial innovation industry. As a result, many people think of Bangkok as a nice city willing to welcome the financial innovation community, and these good aspects shine out so that more people notice them.

Bangkok as a regional ‘aviation hub’ when the world is reconnected

Bangkok’s strength is that it is the world’s air transportation hub. Because there are just two countries in ASEAN, with Singapore and Bangkok competing for the position, visitors to the region can easily travel to diverse destinations both domestically and internationally. Tourism is expected to return to normal after the COVID-19 pandemic has passed. The most important things to plan in Bangkok are solutions for travelers and convenience for entrepreneurs. This invites inventive people from all over the world to engage and collaborate with other sectors by proving that it is an open city for Global Citizens.

‘Innovation districts’ defined as areas rich in opportunities that must be expanded

One of the most important things that visitors to Bangkok look for is the uniqueness of each region and the benefits that can be derived from them. Bangkok has several potentials for innovation. A certain area of the city can be designated as a medical district, a digital development district, a tourism zone, or a logistics district, among other things. These can serve as incubators for entrepreneurs and catalysts for economic value creation. Many stakeholders will benefit from the commitment to establish innovation districts, and it will be a driving factor for economic growth today and in the future.

Bangkok as the startup capital

Thailand remains in the Top 50 of StartupBlink’s Global Startup Ecosystem Index 2021, a global resource for knowledge on innovation ecosystems that ranks 100 nations and 1,000 cities with the finest startup ecosystems. Thailand also has four cities among the top 1,000 in the world with the best startup ecosystems. Bangkok is ranked 71st in the world for startups based on the level of innovative prowess of 1,000 cities. This shows the availability of infrastructure, urban setting, and other factors that are comparable to their Southeast Asian or Asian counterparts.

Bangkok is also distinctive in terms of e-commerce and retail technology, ranking 33rd in the globe. Quantitative criteria such as co-working spaces, business facilities, the number of companies/branches functioning in research and technology, Internet convenience, and speed are all included. Unlike Jakarta, which has produced numerous unicorns, and Singapore, which is recognized for its financial startups, Bangkok stands out for its diversity, which it can use to connect with urban lifestyles. This stimulates investors’ interest in many types of businesses, particularly DeepTech, which the government and the NIA are actively supporting.

“To become an innovative city that can attract foreign investors and innovators, a number of factors must be in place, including collaboration among local administrative organizations, innovation investors, the new generation of leaders, educational institutions, research and development communities, and, most importantly, urban residents’ willingness to focus on innovation. We believe that by working together, they can make Bangkok more inventive.”

Dr. Pun-Arj concluded, “The transformation into a knowledge-based economy and leading investment destination will attract innovation-driven enterprises and stimulate strategic partnerships, further developing our growing tech sector by nurturing inclusive growth and impacting the lives of thousands of people in Thailand and beyond.”

Thailand, headed by NIA, will host Startup x Innovation Thailand Expo 2022 (SITE 2022), to showcase outstanding innovative products and services and connect leading startups, innovators, experts, business executives and investors. The event will be held hybridly on June 23-25, 2022, with the theme “Reconnecting the World.”

PR Newswire

ChipMOS SHAREHOLDERS APPROVE CASH DIVIDEND DISTRIBUTION OF NT$4.30 PER COMMON SHARE OR APPROXIMATELY US$2.92 PER ADS; COMPANY SETS DIVIDEND RECORD & DISTRIBUTION DATES

Leave a comment

HSINCHU, , May 28, 2022 /PRNewswire-FirstCall/ — ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services (“OSAT”), announced its shareholders have approved a cash dividend distribution of NT$4.30 per common share or approximately US$2.92 per ADS at the Company’s AGM on May 26, 2022.  The dividend, which the Company’s Board earlier resolved on February 24, 2022, will be distributed from earnings.  The Company has submitted a dividend/distribution form to NASDAQ, as notification of the below actions for the Company’s American Depositary Shares (“ADRs”).

  • Type of Distribution: Cash Dividend
  • Declaration Date: May 27, 2022
  • Ex-Dividend Date: June 29, 2022
  • ADR Dividend Record Date: June 30, 2022
  • ADR Dividend Distribution Date: July 27, 2022
  • ADR books will be closed from June 28 to July 5, 2022
  • The final dividend amount to be distributed in the U.S. Dollars will be determined by the Depositary, Citibank NA, once it receives the distribution from the Company on July 20, 2022, converts the amount from New Taiwan Dollars into U.S. Dollars and deducts appropriate taxes and fees.

Questions regarding the dividend distribution may be directed to Citibank, N.A.’s Tiffany Ma (Tel: +1-973-461-5734 or tiffany.ma@citi.com).

About ChipMOS TECHNOLOGIES INC.:

ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (https://www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS is known for its track record of excellence and history of innovation. The Company provides end-to-end assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.

Forward-Looking Statements

This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategies, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors, including the ongoing impact of COVID-19. Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) and in the Company’s other filings with the SEC.

Cision View original content:https://www.prnewswire.com/news-releases/chipmos-shareholders-approve-cash-dividend-distribution-of-nt4-30-per-common-share-or-approximately-us2-92-per-ads-company-sets-dividend-record–distribution-dates-301556757.html

Source: ChipMOS TECHNOLOGIES INC.

PR Newswire

PingPong enters partnership with BNP Paribas to expand acquiring service capabilities

Leave a comment

NEW YORK, May 27, 2022 /PRNewswire/ — PingPong Payments, one of the world’s leading end-to-end payment solutions for global cross-border businesses, has entered into a partnership agreement for acquiring services with BNP Paribas, the largest European bank. PingPong Payments is the first cross-border payments company in the industry to support the EU’s DTC (Direct-to-Consumer) market, adding to their suite of innovative payment solutions.

As e-commerce enters into a new development cycle, independent online sellers and DTC models have become increasingly prevalent in a global e-commerce market expected to reach $5.5 trillion in 2022. Global DTC sales grew 17 percent year-on-year in 2021, and European e-commerce sales are set to almost double from 2019 to 2025, heralding an unprecedented opportunity for DTC brands and independent sellers to achieve record levels of growth.

BNP Paribas is a leading acquiring bank in Europe, with the Blue Card issued by the banking giant representing the most important payment brand in France. Since 2017, PingPong has partnered with the bank, supporting accounts, collections, payments, foreign exchange, among other services, to build upon their payments infrastructure.

“By establishing a more comprehensive partnership with BNP Paribas, PingPong Payments will be integrated into the mainstream European financial system, providing greater access to a variety of local payment methods, and helping merchants with acquiring needs in the EU to quickly expand to the local market”, VP Head of Global Institution Group, Aaron Xu stated.

Merchants can access PingPong’s platform directly or integrate via API, to process payments to vetted suppliers, collect and convert payments at lower costs, and provide more transparency through their closed-loop payments ecosystem. At present, PingPong can support online card payments for the top 5 card brands worldwide and local payment methods such as online banking transfers, various e-wallets and Buy Now Pay Later (BNPL).

“Based on BNP Paribas’ financial tools and infrastructure in the EU market, we will deeply integrate with PingPong’s digital platform, risk control system and other fintech capabilities to help merchants conduct cross-border businesses with lower costs, higher success rates and lower payment risks.” BNP Paribas stated.

PingPong Payments is one of the few companies to have obtained the European EMI (Electronic Money Institution) license in Luxembourg, and is qualified to provide services such as payment, prepaid cards, acquiring, and e-wallets in the EU market. Xu also states, “Based on our innovative payment technology and global licenses, we will soon release a one-stop digital payment service worldwide, including the EU. With these features, we will accelerate the globalization of SMEs, creating greater opportunities for businesses to scale internationally and expand beyond borders.”

About PingPong Payments

PingPong Payments was founded in 2015 with the mission of helping global e-commerce sellers keep more of their profits, by beating the rates traditional banks offer. The company acts as a multi-dimensional growth partner to more than (1 million online sellers) worldwide: it has processed more than $90 billion in cross-border payments for e-commerce merchants to date, and transfers more than $150 million a day on behalf of international e-commerce sellers. Global merchants around the world trust PingPong Payments to help them save on cross-border payments, VAT and supplier payments, and more. PingPong works with reputable brands such as Citibank, J.P. Morgan and Wells Fargo that have won licenses to operate efficiently and are being subject to strong regulatory and supervisory frameworks across the U.S., Europe and Asia.

About BNP Paribas

BNP Paribas is the European Union’s leading bank and a key player in international banking. It operates in 65 countries and has nearly 190,000 employees, including nearly 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, Eastern Europe as well as via a large network in the western part of the United States. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

Cision View original content:https://www.prnewswire.com/news-releases/pingpong-enters-partnership-with-bnp-paribas-to-expand-acquiring-service-capabilities-301556433.html

PR Newswire

Firework Closes $150M SoftBank Vision Fund 2-Led Series B to Continue to Build the Future of Commerce

Leave a comment

Livestreaming commerce leader receives major leg-up in bid to redefine customer experience and engagement for Web 3.0

SAN MATEO, Calif., May 24, 2022 /PRNewswire/ — Firework, the leading livestreaming commerce and digital transformation platform, has secured $150 million in Series B financing, led by SoftBank Vision Fund 2.

The announcement comes as public sentiment towards Big Tech’s “walled-gardens” – the large, closed ecosystems typified by the likes of Facebook and Amazon – grows increasingly strained. Facebook parent company Meta’s recent announcement that it will charge a 47.5% fee on all transactions on its Horizon Worlds metaverse app was the most recent flashpoint to emerge from the debate around Internet centralization.

With the newly acquired funds, Firework aims to accelerate growth across a variety of metrics in pursuit of a bold, long-term vision to reshape the digital landscape with its decentralized infrastructure on which organizations can engage and transact with customers and audiences on their own properties and terms. In the near term, the company aims to increase talent acquisition in engineering, product and marketing, and deliver several enhancements to its overall platform.

“With this investment, our growth engine is firing on all cylinders,” said Firework Co-Founder and CEO Vincent Yang. “Our core technology and business model have already been proven in the market many times over, and with this capital to realize our vision, Firework can now focus most of our efforts on evolution and growth, in all its forms – growing our team, growing our user base, and growing our technology, to ensure the Firework platform never loses step with the bleeding edge of next-generation customer experience.”

Success Begets Success

The outcome of Firework’s Series B funding round can be attributed in large part to a litany of successes stretching back to Q1 2021. With multiple blockbuster customer and partner acquisitions — such as Albertsons Companies, The Fresh Market, and Omnicom Media Group — a strategic investment partnership with American Express Ventures, and numerous high-profile leadership hires, Firework has emerged as the clear frontrunner in the race to lead North America’s still-nascent livestream commerce market.

In China, livestream commerce generated over $300 billion in sales in 2021, representing approximately 12% of overall retail ecommerce sales, and is expected to reach nearly 20% in 2023. The North American market, on the other hand, clocked in at less than $6 billion, representing just 0.1% of overall online sales. The immensity of the opportunity therein wasn’t lost on Firework’s co-founders, Vincent Yang and Jerry Luk, when they launched the company in 2017. Nor has it gone unnoticed by investors. Firework has raised over $235 million in funding to date.

But Vision Determines Its Value

“Short videos and livestreaming are now the default language for the digital era, which is reshaping how consumers engage with brands and products online,” said Linda Yu, Partner at SoftBank Investment Advisers. “We believe Firework empowers businesses to use video to transform their websites into social and storytelling hubs so they can build deeper, long-term relationships with customers. Vincent and Jerry have assembled an impressive team in the digital commerce space and we’re thrilled to partner with them to build a next generation customer experience.”

As part of the transaction, Linda Yu has joined Firework’s Board of Directors.

“We chose to work with SoftBank Investment Advisers for a multitude of reasons, from their unparalleled domain expertise in the ecommerce space to their extensive network,” said Firework Co-Founder and President Jerry Luk. “But above all else, we chose Softbank Investment Advisers because of their shared vision. We have big ambitions at Firework — to become the infrastructure on which the next-generation of the internet is built and run — and Softbank Investment Advisers supports that vision.”

About Firework
Firework is the global leader in humanizing the open web through the language of video. Leveraging shoppable video, live streaming commerce and powerful monetization capabilities, Firework empowers the world’s most dynamic and exciting retailers, consumer brands, and publishers to build engaging video experiences on their owned and operated digital properties and across channels at a global scale. Firework enables organizations to bring new levels of authenticity and connection to online video experiences, speaking to digital natives in the language they understand fully—and taking control of their own customer data. The company has raised over $235 million in capital to date. To learn more, please visit firework.com.

Media Contact
Fatimah Nouilati
Scratch Marketing + Media for Firework
fatimah@scratchmm.com

Albertsons
Albertsons
https://mma.prnasia.com/media2/1824177/Grande_Cosmetics.mp4
PR Newswire

New Bite Investments Report Reveals High Expectations for Digital Growth in the Private Capital Industry

Leave a comment

New study finds that the pandemic encouraged large firms to enhance technological capacity and smaller firms to capitalize on a first-mover advantage

LONDON, May 23, 2022 /PRNewswire/ — Bite Investments released a report in association with Mergermarket concluding that enhanced data access and operational efficiencies are the main drivers for digitalization among investment firms. The report, titled “The Tech’s Factor: The digitalization of private markets in 2022 and beyond,” reveals how digitalization is shaping the private capital industry and how fund managers are adopting to tech, for what purposes and how the size of a firm can be a determining factor in speed, success, and satisfaction.

The report surveyed US senior executives from middle market, boutique funds, and asset managers on the topic of digitalization of the private markets. The research revealed that it is crucial to be ahead of the game when it comes to digital adoption. 90% of firms with AUM of more than US$1bn agree that keeping ahead of the game in regard to technological capabilities at their organization is a top priority.

“Investors are arguably the most important part of the private capital ecosystem. Therefore, catering to their desires and demands is an absolute priority for alternative asset managers. Digital adoption is needed to help enhance this client onboarding,” said William Rudebeck, CEO, Bite Investments.

“There are great expectations for digital growth. We found that big firms are much further along in terms of digital adoption and how this will be applied to their value chains. This means that smaller firms can still capitalize on a first-mover advantage among peers,” said John West, Managing Editor EMEA at Mergermarket.

“The pandemic has been a catalyst for digital adoption in the private capital industry. But regardless of what happens with Covid-19, the realized benefits of this change are here to stay. We are not going back to the old ways of doing business,” Rudebeck added.

The report demonstrates what a digital future would look like for the private markets industry. Key findings include:

  • External digital investments are expected to increase. Over three-quarters (80%) of larger firms expect to make external digital investments (e.g., to advisors and services providers) north of US$1m, with 33% anticipating investments of between US$5m and US$10m. Smaller firms with AUM of less than $1bn expect to make commensurately smaller investments into external digital investments.
  • Portfolio/fund management and analysis, and investor profiles ranked first as firms’ top digital priorities. Larger firms also identified that digitalization investments will improve investor onboarding, relationship management and communication whereas smaller firms listed due diligence as a top business function to digitalise.
  • Cloud/Software-as-a-Service (SaaS) will have the largest impact on how private equity firms operate over the next ten years. For this reason, increased investment in cloud/SaaS solutions are deemed necessary to improve operations. A majority of firms are expecting to invest further into areas in which they have already made progress and investments. These include cloud/SaaS solutions (78%–80%) and social media, mobile and collaborative digital technologies (75%–83%). The primary benefit of using cloud/SaaS platforms is to streamline operations.
  • Third party service providers are used for a wide variety of services. The size of the company often dictates the services needed and prioritised. For instance, 81% of larger firms use a specialist third party software service provider for their due diligence. However, smaller firms are more likely than larger ones to say they currently use third parties for their portfolio/fund management, analysis, and investor profiles.
  • Operational efficiencies will be the single most important long-term effect of digitalization. Operational efficiencies at the portfolio company level are essential to a private capital firm’s value creation playbook. Other long-term benefits respondents most commonly expect from their digital investments include access to enhanced quality and quantities of data (78% of all respondents). Digitalization projects will not succeed without good, clean data.

“These insights reaffirm that as digitization accelerates, fund managers will have to adapt to continuous tech evolution. Our mission at Bite Investments opens possibilities in alternative investment markets with digitization, and a new forward-thinking approach, enabling firms to configure their own digital platform to improve the experience for existing and prospective investors and limited partners,” Rudebeck concluded.

Methodology:

In Q4 2021, Acuris Studios, on behalf of Bite Investments, surveyed 80 senior executives from middle market, boutique funds and asset managers based in the US on the topic of digitalization of the private markets. Forty respondents were from firms with Assets Under Management (AUM) of US$1 billion or more and 40 respondents were from firms with AUM of less than US$1 billion.

Download the report here: https://www.biteinvestments.com/newsroom/Insights/white-paper–the-techs-factor-the-digitalization-of-private-markets-in-2022-and-beyond

About Bite Investments: Bite Investments is a financial technology company created to expand access to alternative investments. The company’s enterprise solution helps fund managers utilize a digital platform to streamline their client’s diligence, compliance, distribution, client onboarding, and investor relations processes and workflows. Bite’s investment solutions bring alternative investments out of the institutional market, making them accessible to a larger audience. Bite Investments is a fintech company led by an international team with extensive experience in alternative investments, financial services, and technology. Bite has offices and customers in Asia, Europe, and North America. Learn more at https://www.biteinvestments.com.

PR Newswire

KONE wins Business Leadership in Sustainability – Innovation Award 2022

Leave a comment

SINGAPORE, May 21, 2022 /PRNewswire/ — KONE, a global leader in the elevator and escalator industry, bagged the ‘Business Leadership in Sustainability – Innovation’ award, at the prestigious Singapore Green Building Council (SGBC)’s award ceremony yesterday.

In celebrating this accolade, Sylvia Koh-Gratton, Managing Director of KONE Singapore shared, “KONE is honoured to receive SGBC’s Business Leadership in Sustainability – Innovation Award. We have been championing sustainability through our products and solutions for over two decades, and will continue to drive more innovations that will accelerate cities’ ambitions to become both smart and sustainable.”

“We are thankful for the opportunities in co-creating solutions with our sustainability-driven clients and partners, as well as the support of government and local agencies in facilitating this ecosystem in Singapore.”

“This Award is credit to our dedicated team at KONE for working passionately to deliver all our innovative technology solutions with safety, productivity, cost savings and sustainability as its core,” she added.

“We were impressed by the strong showing for the Awards put forth by the industry this year, which is very encouraging and reflective of the current emphasis on sustainability,” said SGBC President Ar. Tang Kok Thye. “The Winners all exemplify excellence in sustainability and we are confident that they will be an inspiration to everyone in the built environment sector, leading the way for sustainability as we intensify action towards our climate aspirations.”

The awards were presented at Orchard Hotel by guest-of-honour Grace Fu, Minister for Sustainability and the Environment. Also present was Kelvin Wong, Building and Construction Authority (BCA) Chief Executive Officer.

About KONE

At KONE, our mission is to improve the flow of urban life.

As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle.

Through more effective People Flow®, we make people’s journeys safe, convenient and reliable, in taller, smarter buildings.

In 2021, KONE had annual sales of EUR 10.5 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.

https://www.kone.sg

Why KONE won the Business Leadership in Sustainability – Innovation award 2022

KONE has committed to the most ambitious sustainability targets in the elevator and escalator industry, including carbon neutral operations by 2030, validated by the Science Based Targets initiative (SBTi).

KONE was the first to champion for elevators and escalators to be included as a category in the Singapore Green Building Product (SGBP) certification scheme and worked closely with SGBC to develop the initial assessment criteria for determining energy efficiency of elevators and escalators.

Today, KONE still leads the industry with the largest number of products (7 solutions) certified with the highest 4-tick Leader ratings.

Some of KONE’s industry-transforming innovations include machine-room-less elevators, regenerative drive technology, ultra-light and durable carbon-fibre lift cables, escalator modernisation with maximum preservation of moving parts – all having significant positive impact on built environment sustainability.

The SGBC-BCA Leadership in Sustainability Awards is co-organised by the Singapore Green Building Council (SGBC) and the Building and Construction Authority (BCA) to recognise professionals, organisations and building projects for their contributions and significant achievements in the development of a green and sustainable built environment.

PR Newswire

Cloopen Receives Notification from NYSE Regarding Delayed Filing of 2021 Annual Report

Leave a comment

BEIJING, May 20, 2022 /PRNewswire/ — Cloopen Group Holding Limited (NYSE: RAAS) (“Cloopen” or the “Company”) today announced that, on May 18, 2022, it received a letter from the New York Stock Exchange (the “NYSE”) notifying the Company that it is not in compliance with the NYSE’s continued listing standards as a result of the Company’s failure to timely file its annual report on Form 20-F for the fiscal year ended December 31, 2021 (the “2021 Annual Report”). The Company expects to file the 2021 Annual Report, upon (1) the outcome of the pending internal investigation as disclosed in the Company’s current report on Form 6-K initially furnished to the U.S. Securities and Exchange Commission (the “SEC”) on May 3, 2022, and (2) the completion of the audit of the Company’s consolidated financial statements required to be included in the 2021 Annual Report. The anticipated filing date of the 2021 Annual Report is currently unknown, and the Company will file the 2021 Annual Report as soon as practicable.

The NYSE will closely monitor the status of the Company’s late filing and related public disclosures for up to a six-month period from the due date of the 2021 Annual Report. If the Company fails to file the 2021 Annual Report and any subsequent delayed filings within six months from the filing due date, the NYSE may, in its sole discretion, allow the Company’s securities to trade for up to an additional six months depending on specific circumstances, as outlined in Section 802.01E of the Listed Company Manual. If the NYSE determines that an additional six-month trading period is not appropriate, suspension and delisting procedures will commence.

Receipt of the letter does not have any immediate effect on the listing of the Company’s American depositary shares on the NYSE, except that until the Company regains compliance with the NYSE’s listing standards, an “LF” indicator will be appended to the Company’s trading symbol, “RAAS,” signifying its status as a late filer.

About Cloopen Group Holding Limited

Cloopen Group Holding Limited is a leading multi-capability cloud-based communications solution provider in China offering a full suite of cloud-based communications solutions, covering communications platform as a service (CPaaS), cloud-based contact centers (cloud-based CC), and cloud-based unified communications and collaborations (cloud-based UC&C). Cloopen’s mission is to enhance the daily communication experience and operational productivity for enterprises. Cloopen aspires to drive the transformation of enterprise communications industry by offering innovative marketing and operational tactics and SaaS-based tools.

For more information, please visit https://ir.yuntongxun.com.

Forward-Looking Statements

This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and 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. Cloopen may also make written or oral forward-looking statements in its reports filed with or furnished to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Cloopen’s beliefs and expectations as well as its financial outlook, are forward-looking statements. These forward-looking statements are based on Cloopen’s current expectations and involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors, risks and uncertainties include, but not limited to the following: Cloopen’s goals and strategies; its expectations regarding demand for and market acceptance of its brand and services; its ability to attract new customers or retain existing ones; its ability to continue developing solutions and the markets its solutions target; its ability to maintain collaborations with mobile network operators; its ability to enhance or upgrade its existing solutions and introduce new ones in a timely and cost-effective manner; its ability to maintain the compatibility of its solutions across devices, business systems and applications and physical infrastructure; relevant government policies and regulations relating to Cloopen’s corporate structure, business and industry, as well as the industries in which its customers operate; and general economic and business condition in China. Further information regarding these and other risks, uncertainties or factors is included in Cloopen’s filings with the SEC. All information provided in this press release is current as of the date of the press release, and Cloopen does not undertake any obligation to update such information, except as required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement, and you are cautioned not to place undue reliance on these forward-looking statements.

For investor and media inquiries, please contact:

Cloopen Group Holding Limited
Investor Relations
Email: ir@yuntongxun.com

Cision View original content:https://www.prnewswire.com/news-releases/cloopen-receives-notification-from-nyse-regarding-delayed-filing-of-2021-annual-report-301551922.html