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PR Newswire

Mach49 Expands Singapore Hub to Further Advance Corporate Venture Building in Asia

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Mach49 appointed as a venture studio of the Corporate Venture Launchpad, a programme by the Singapore Economic Development Board

SINGAPORE and REDWOOD CITY, Calif., Oct. 1, 2021 — Today, Mach49, the growth incubator for global businesses, announced its appointment as a venture studio on the Singapore Economic Development Board’s (EDB) Corporate Venture Launchpad (CV Launchpad). The CV Launchpad is a S$10 million pilot programme designed to help large, Singapore-based companies build new ventures in growth areas beyond their existing core businesses. It was established by EDB New Ventures, the corporate venture building arm of EDB, to advance the venturing ecosystem across companies in Singapore. 

"Mach49’s appointment as a venture studio underscores EDB’s trust in our experience with Global 1000 companies and our unique approach to the venture building process — we’re focused exclusively on execution and have a robust, scalable, and repeatable method for bold, game-changing venture creation. If companies want to disrupt before they’re disrupted, it’s imperative that they build their own Growth Engines, capitalizing on their resources, ideas, talent, and customer base to beat start-ups at their own game," said Linda Yates, Founder and CEO of Mach49. 

As an appointed venture studio, Mach49 will partner with large and established Singapore-based companies to incubate fresh business ideas with the speed and nimbleness of a start-up, while leveraging the unique competitive advantages of its parent company. The result is a pipeline of ventures that generates meaningful growth and continues to propel Singapore forward as a global business hub. Mach49 is established in the region with an office in Singapore and a growing base of APAC clients, including TDK Corporation; Schneider Electric; Mitsubishi Electric; Hitachi; LIXIL; among others. 

"Asia’s large corporates are uniquely positioned to produce the region’s next generation businesses — Mach49’s methodology, pace, connections, and team of successful entrepreneurs, VCs, and C-Suite executives can help create them. Mach49’s global team has collectively created over $50 billion in market value in companies we have invested in, created, managed, or built. With a wealth of experience under one roof, we not only understand how to design and manage world-class venture factories producing multiple ventures, but we are devoted to refining the art and science of the venture-building process," added Amos Manasseh, Mach49’s Head of Venture Building and Delivery, APAC. 

"Our partnership with venture studios is integral to the Corporate Venture Launchpad, as they bring best-in-class expertise and experience in ideation, incubation and venture-building. By tapping on the capabilities of our appointed venture studios like Mach49, participating corporates can build new ventures and scale them to become globally competitive businesses from Singapore. We welcome Mach49 as a valued partner on this programme, and look forward to building new ventures together," said Mr Choo Heng Tong, Executive Vice President, New Ventures and Innovation, EDB.

With a 100 percent focus on execution and a 90 percent success rate, Mach49 has incubated over 50 businesses globally, empowering companies to create new markets, new categories, and new products by helping them build and launch ventures generated from within, do corporate venture investing, engage in strategic partnering with start-ups, and augment their venture building with startup-company M&A. In Singapore, Mach49 is currently supporting Schneider Electric’s incubation vehicle, which has already incubated three ventures. Mach49 also designed a new corporate venture fund for 86-year-old company, TDK. Since launching in 2019, TDK Ventures has had three exits and recently closed its second fund for $150 million, which is triple the size of TDK Ventures’ first fund.

About Mach49

Mach49 partners with global businesses to disrupt markets and create new growth opportunities. Mach49 focuses on execution, with a unique approach to venture building and investing fueled by decades of Silicon Valley operating experience and success. Mach49 was founded in 2014 by Linda Yates and is based in Silicon Valley, with offices in Singapore, London, Amsterdam and Boston. Learn more about Mach49 at www.mach49.com.

Logo – https://mma.prnasia.com/media2/1082800/Mach49_Logo.jpg?p=medium600  

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PR Newswire

China Money Network Unveils Corporate Brand Upgrade As FutureLogic

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FutureLogic will fold numerous business units under its umbrella including China Money Network, Caishen.co, China Money Podcast and more

HONG KONG, Sept. 29, 2021 — China Money Network Limited today unveils its new corporate brand as FutureLogic.

FutureLogic, a premier intelligence, data and media platform bridging the Asian and global innovation economy, will fold numerous business units under its umbrella including its core asset, China Money Network, a platform tracking China’s venture capital, fintech and technology sectors since 2011.

Caishen.co, which uses natural language processing to provide market intelligence on China’s secondary market, will be part of FutureLogic as well.

The FutureLogic brand will also encompass other related media, intelligence, and data assets including China Money Podcast, a weekly podcast featuring China’s venture capital and tech sector news; and Reports, which produces research reports related to the Asian and the global tech ecosystem.

"By upgrading our brand to FutureLogic, we are conveying a new approach to our expert areas: to leverage our knowledge in the Asian tech space in a global context, and to broaden our horizon to help the global tech community in deciphering the future," says Nina Xiang, founder and managing editor of FutureLogic.

China Money Network was founded in 2011 in Shanghai, and is headquartered in Hong Kong and operates from satellites in Shanghai, Beijing, Shenzhen and Hangzhou. The company is independently owned by its founding team and employees.

With a massive and deep database covering the Asian venture capital, fintech and tech sector over the past ten years, China Money Network has been a leading intelligence and data service provider to many leading global and Chinese corporations. The platform also boasts a global high-end user base spanning North American, Europe, Asia Pacific, and the Middle East.

"Going forward, FutureLogic will aim to provide unique insights, news, and intelligence rooted in our expertise in Asian tech to a wider global audience as the world’s tech space enters a highly uncertain future amid geopolitical tensions," says Nina Xiang. "FutureLogic aims to be the place where executives turn to for real intelligence on the Asian tech space."

For more information, please visit http://www.thefuturelogic.com 

About FutureLogic

FutureLogic is a media, intelligence and data conglomerate bridging the Asian and global innovation economy.

It encompasses a number of media and data assets, including China Money Network, a platform tracking the Asian venture capital and technology sectors since 2011; and Caishen.co, which uses natural language processing to provide market intelligence on China’s secondary market.

FutureLogic’s asset matrix also includes China Money Podcast, a weekly podcast featuring China’s venture capital and tech sector news; and China Money Reports, a think tank producing reports related to the Chinese and the global tech ecosystem.

FutureLogic was founded in 2011 in Shanghai, and is headquartered in Hong Kong and operates from satellites in Shanghai, Beijing, Shenzhen and Hangzhou. It is an independent company owned by its founding team and employees.

PR Newswire

Disruptive Streaming Service, Vabble, Listed on Mandala Exchange, Powered by Binance Cloud

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THE SEYCHELLES, Sept. 28, 2021 — Mandala Exchange, powered by Binance Cloud, is thrilled to announce Vabble as its first premiere listing. VAB will be the first project listed on Mandala Exchange outside of the Binance ecosystem. VAB will be listed alongside 1,000+ trading pairs available on Mandala that share liquidity, order books, and security with Binance. Vabble plans to merge the best aspects of in-theater experience for movie goers with a state of the art production launchpad for scriptwriters, producers and filmmakers to fund and produce content on a global scale.

"Filmmakers want to write, direct, and produce the content that they desire but are held back by traditional financing models. Vabble has created a disruptive, game-changing approach to traditional project financing. Vabble will democratize film financing to the tune of multimillions, eventually billions, by leveraging cryptocurrency liquidity and creating an entirely new creative marketplace where emerging and established filmmakers can thrive!" – John C. Hall Former EVP, Universal Pictures & Partner, Cardinal Trio Pictures.

What is Vabble?

The Vabble platform is a media consumption experience unlike anything available today with exclusive content for users; providing subscribers with a unique collection of films, documentaries, and series to choose from. Users can create invite-only co-watching experiences to replicate the magic of the theater without leaving home. The result is a unique shared viewing experience that connects fans of the same content on a global scale.

Our economy is designed to give directors and writers control over their work and the opportunity to generate revenue directly from it. This includes direct P2P payments between the users and content owners, built-in NFT marketplaces that studios can use to auction off promotional materials related to their work, and even live AMAs with stars of released films, intimately connecting them with their audiences.

Finally, governance! Vabble Production Launchpad, a go-to funding source to help writers and directors get their works off the ground, enables the global community to invest in one of the largest sectors in the world, film. All while providing a de-capitalization of the outdated film and streaming industry. Vabble aims to redefine the standard SVOD revenue sharing model with their VAB economy.

https://www.vabble.com/

What is Mandala Exchange?

Mandala is the first privately owned exchange powered by the Binance Cloud platform. Mandala aims to be the most trusted digital asset exchange on the market. This allows their users to trade cryptocurrency with confidence on an industry-leading exchange platform with access to the largest liquidity pool in the world and fees as low at 0.05%. Mandala currently has over 1,000+ active trading pairs with full Binance liquidity and security, making Mandala one of the largest exchanges on the market today.

https://www.mandala.exchange/

Media contact: pr@mandala.exchange

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PR Newswire

New Oriental Announces Filing of Annual Report on Form 20-F for Fiscal Year 2021

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BEIJING, Sept. 26, 2021 /PRNewswire-Asia/ New Oriental Education & Technology Group Inc. ("New Oriental" or the "Company") (NYSE: EDU and SEHK: 9901), the largest provider of private educational services in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended May 31, 2021 with the Securities and Exchange Commission ("SEC") on September 24, 2021, U.S. Eastern Time. The annual report can be accessed on New Oriental’s investor relations website at http://investor.neworiental.org as well as the SEC’s website at http://www.sec.gov. New Oriental will provide a hard copy of the annual report containing its audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request.

The Company has also today published its annual report for Hong Kong purposes pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("HKEX"), which can be accessed on the Company’s investor relations website at http://investor.neworiental.org as well as the HKEX’s website at http://www.hkexnews.hk.

About New Oriental

New Oriental is the largest provider of private educational services in China offering a wide range of educational programs, services and products to a varied student population throughout China. New Oriental’s program, service and product offerings consist of K-12 after-school tutoring, test preparation, language training for adults, pre-school education, primary and secondary school education, education materials and distribution, online education, and other services. New Oriental is listed on NYSE (NYSE: EDU) and SEHK (9901.SEHK), respectively. New Oriental’s ADSs, each of which represents one common share. The Hong Kong-listed shares are fully fungible with the ADSs listed on NYSE.

For more information about New Oriental, please visit http://www.neworiental.org/english/.

Contacts

For investor and media inquiries, please contact:

Ms. Rita Fong
FTI Consulting
Tel: +852 3768 4548
Email: rita.fong@fticonsulting.com

Ms. Sisi Zhao
New Oriental Education and Technology Group Inc. 
Tel: +86-10-6260-5568 
Email: zhaosisi@xdf.cn

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http://english.neworiental.org

PR Newswire

Weidai Announces Receipt of NYSE Non-compliance Letter Regarding ADS Trading Price on August 31, 2021

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HANGZHOU, China, Sept. 25, 2021 — Weidai Ltd. (the "Company" or "Weidai") (NYSE: WEI), a leading auto-backed financing solution provider in China, today announced that it has received a letter from the New York Stock Exchange (the "NYSE") dated August 31, 2021, notifying Weidai that it is below compliance standards due to the trading price of its American Depositary Shares (the "ADSs").

Pursuant to NYSE rule 802.01C, a company will be considered to be below compliance standards if the average closing price of a security as reported on the consolidated tape is less than US$1.00 over a consecutive 30 trading-day period. Once notified, the company must bring its share price and average share price back above US$1.00 by six months following receipt of the notification. The company can regain compliance at any time during the six-month cure period if on the last trading day of any calendar month during the cure period the company has a closing share price of at least US$1.00 and an average closing share price of at least US$1.00 over the 30 trading-day period ending on the last trading day of that month. In the event that at the expiration of the six-month cure period, both a US$1.00 closing share price on the last trading day of the cure period and a US$1.00 average closing share price over the 30 trading-day period ending on the last trading day of the cure period are not attained, the NYSE will commence suspension and delisting procedures.

To address this issue, the Company intends to monitor the market conditions of its listed securities and is still considering its options.

About Weidai Ltd.

Weidai Ltd. is a pioneer and leading auto-backed financing solution provider in China supported by sophisticated and effective risk management system and technology. The Company transforms used automobiles, a type of "non-standard" collateral, into investable assets, to provide accessible credit for China’s small and micro enterprises, and connects the borrowers with institutional funding partners through its platform.

For more information, please visit http://weidai.investorroom.com/.

Safe Harbor Statement

This press 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 "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Weidai may also make written or oral forward-looking statements in its periodic reports 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. Statements that are not historical facts, including statements about Weidai’s beliefs and expectations, are forward-looking statements. Such statements are based upon management’s 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 the Company’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited the following: Weidai’s goal and strategies; Weidai’s expansion plans; Weidai’s future business development, financial condition and results of operations; Weidai’s expectations regarding demand for, and market acceptance of, its solutions and services; Weidai’s expectations regarding keeping and strengthening its relationships with borrowers, investors and financial institutions and other platform participants; general economic and business conditions; Weidai’s assumptions underlying or related to any of the foregoing regulations and governmental policies relating to the online consumer finance industry in China; its ability to comply with existing or future laws and regulations related to data protection or data security; and Weidai’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE’s continued listing criteria; litigation and negative publicity surroundings China -based companies listed in the U.S.; and the duration of the COVID-19 outbreak, including the emergence of COVID variants, and its potential impact on the Company’s business and financial performance. 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. All information provided in this press release is as of the date of this press release, and Weidai does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For investor and media inquiries, please contact:

In China:
Christensen
Mr. Rene Vanguestaine
Tel: +86-10-5900-1548
E-mail: rvanguestaine@christensenir.com  

In US:
Christensen
Ms. Linda Bergkamp
Tel: +1-480-614-3004
E-mail: lbergkamp@christensenir.com

Related Links :

http://www.weidai.com.cn

PR Newswire

Moomoo Sponsors FinTwit Conference October 8-10th, 2021 Hosted by Jonah Lupton in Orlando, Florida

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PALO ALTO, Calif., Sept. 24, 2021 — Moomoo, the popular smart investing platform for proactive traders, has announced its sponsorship and support of the FinTwit 2021 Conference. This event is hosted by entrepreneur and growth investor Jonah Lupton and will be held at The Ritz-Carlton and JW Marriott resorts in Orlando, Florida from October 8 – 10, 2021.

The conference brings together Key Opinion Leaders (KOLs) from the investing and financial world of what is known as "Financial Twitter" group. Jonah Lupton of Lupton Capital created this event to provide a platform for prominent KOLs to kickstart discussion around investing strategies and innovation at an in-person event. The conference offers an incredible networking opportunity for individuals at any investing level. FinTwit gives attendees the rare opportunity to interact with some of the best and brightest minds in the #FinTwit world.

"For the first time ever, leaders of the #FinTwit group will congregate in-person and share investing strategies, tips and tricks, and predictions for where the industry is going," said Mr. Lupton. "It is an honor to have an equally passionate company like moomoo sponsor and support this event. Attendees can look forward to inspiring keynotes on topics ranging from portfolio construction to fundamentals based research to mastering technical investing and finding breakout winners. Themes will be even more diverse at the Sunday roundtable event which will include nearly twenty tables that are each home to a different discussion topic."

Moomoo and Jonah have partnered several times on past initiatives aimed at helping educate investors on the tools and features the moomoo app offers. Jonah is a proponent of moomoo’s parent company’s stock, Futu Holdings Ltd. (NASDAQ listed FUTU). Moomoo has also previously partnered with Benzinga, a leading financial news and media website, that will be serving as FinTwit’s sole media sponsor.

"We’re thrilled to help bring together some of the biggest forces in the U.S. investing world at this event," said Mr. Leaf Li, Futu’s Founder, Chairman, CEO & Chairman of the Technology Committee. "The networking and educational opportunties for investors at all levels will be unmatched."

For more information on this event, including where to buy tickets, please visit: www.fintwit2021.com.

The opinions and beliefs expressed in any form by the KOLs or others at the FinTwit Conference are their own and do not necessarily represent or reflect the opinions or beliefs of Moomoo Inc. or any of its affiliates. Moomoo and its affilaites do not accept any responsibility or liability for the accuracy, content, or reliability of any such opinion and belief. Republication by Moomoo, in any form, of an opinion or belief expressed at the FinTwit Conference should not be considered an endorsement or a guarantee of its accuracy.

About Moomoo Inc.

Headquartered in Palo Alto, California, Moomoo Inc. is an indirect wholly-owned subsidiary of Futu Holdings Limited (Nasdaq: FUTU), with its mission to transform personal investing experience with an intuitive user interface, fully digitized trading platform in the US and globally. For more information about moomoo, please visit the company’s official website, www.moomoo.com.

 

 

PR Newswire

Warburg Pincus Welcomes Brian Duffy As Senior Adviser To Its Technology Group

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Experienced business transformation specialist and President of Cloud at SAP will help portfolio companies accelerate innovation and digital transformation

LONDON and CHICAGO, Sept. 21, 2021 — Warburg Pincus, a leading global growth investor, today announced the appointment of Brian Duffy as a Senior Adviser in its Technology group. In his role, Brian will work with Warburg Pincus and its portfolio companies to accelerate innovation and digital transformation and to identify and evaluate new investment opportunities in the global technology industry.

Brian brings more than 15 years of international experience in the technology industry to the firm, holding several senior leadership positions across a variety of business functions at SAP. Currently, Brian serves as President of Cloud, and focuses on accelerating customer adoption of RISE with SAP, the company’s business transformation as a service offering.

Prior to this, Brian served as President of Northern Europe for SAP and was responsible for overseeing the region’s industry go-to-market, sales strategies and customer experience. Prior to his sales leadership roles, Brian simultaneously served as Chief of Staff to an SAP Executive Board Member and Senior Vice President of Global Strategic Initiatives. Brian is a qualified lawyer and he has previously held various positions in SAP’s legal department, including Assistant General Counsel in the United States, Japan and China. Additionally, Brian is a member of SAP’s global sustainability council and he serves as global executive sponsor for Diversity and Inclusion.

Flavio Porciani, Managing Director at Warburg Pincus, said, ”At Warburg Pincus, we have always recognized the importance of leveraging industry expertise to strengthen and grow the businesses in which we invest and to provide our current and prospective portfolio companies and their management teams with access to industry leaders and deep sector expertise. Brian’s track record of helping businesses accelerate innovation and digital transformation is perfectly aligned with our long history of investing in and successfully scaling tech enabled businesses. We look forward to working closely with Brian.”

Brian Duffy, President of Cloud at SAP said, ”Warburg Pincus has a five-decade history of successfully investing in technology businesses and an exceptional reputation for identifying future market leaders. I’m excited to partner with the global technology team and its portfolio companies as we work together to identify opportunities that enhance innovation, create value and inspire people for the greater good.”

Warburg Pincus has been a long-time, active investor in the technology industry. Since the firm was founded in 1966, it has invested more than $24 billion in technology businesses, with investments including Quantexa, Personetics, Inmarsat, CrowdStrike, Avalara and Avaloq.

Media Contact
Jenna Ward, Europe Communications Director
T: +44 20 7306 3805 / +44 7570 844338
E: jenna.ward@warburgpincus.com

About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm has more than $64 billion in private equity assets under management. The firm’s active portfolio of more than 205 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $94 billion in over 940 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com.

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PR Newswire

TradeFlow Capital Management expands commodity trade support in Latin America

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TradeFlow Capital Management will mobilise capital and improve trade finance access for small and medium sized enterprises (SMEs) in Latin America.

SINGAPORE, Sept. 20, 2021 — TradeFlow Capital Management will provide increased commodity trade support for businesses in Latin America by leveraging its innovative non-lending and non-credit based instruments. By empowering small businesses with the right level of financial support to execute import/export trades in bulk commodities, TradeFlow Capital will tackle the growing trade finance gap in Latin America and advance the objectives of the International Chamber of Commerce’s (ICC) Trade Now campaign.

During the World Trade Organization’s 2021 Global Trade & Blockchain Forum, ICC Secretary General John W.H. Denton AO announced the participation of TradeFlow Capital as part of ICC’s Trade Now campaign to improve SME access to short-term liquidity to survive the ongoing economic crisis and thrive in the post-pandemic future.

"ICC is delighted to launch this partnership with TradeFlow Capital to unlock liquidity for SMEs and keep the global economy moving forward. We are confident that our partnership with Tradeflow Capital and other initiatives under our ICC Trade Now campaign will create new, tangible opportunities for SMEs everywhere." said ICC Secretary General John W.H. Denton AO. 

"We have been active in Latin America since 2019 and are well-positioned to expand our services to the Commodity Trade industry there, and in particular to SMEs, based on our extensive experience in Africa. With more than 45% of SMEs having their requests for trade finance rejected with no access to alternative sources of funding, TradeFlow is pleased to support SMEs in particular through the ICC Trade Now campaign to enable trade by SMEs otherwise ineligible for traditional forms of lending in Latin America," said Dr Tom James, CEO and CIO of TradeFlow.

ICC TradeFlow Capital is one of a diverse range of solutions offered through ICC Trade Now to accelerate the provision of trade finance to SMEs. In the coming months, ICC will host a series of events for chamber of commerce leaders and other stakeholders to help find the liquidity and mechanisms needed to bridge the trade finance gap.

Media Contacts

Daniel Chua | Vice-President, Communications, TradeFlow Capital Management
Email: daniel.chua@tradeflow.capital   | T: +65 9177 6348

About the International Chamber of Commerce

The International Chamber of Commerce (ICC) is the institutional representative of more than 45 million companies in over 100 countries. ICC’s core mission is to make business work for everyone, every day, everywhere. Through a unique mix of advocacy, solutions and standard setting, we promote international trade, responsible business conduct and a global approach to regulation, in addition to providing market-leading dispute resolution services. Our members include many of the world’s leading companies, SMEs, business associations and local chambers of commerce.

About TradeFlow Capital Management

TradeFlow Capital Management (TradeFlow) is the world’s first FinTech-powered commodities trade enabler focused on SMEs. TradeFlow consists of a diverse team of experts with the focused mission of addressing the increasing trade finance gap faced by global SMEs operating as producers/traders/end-users in the bulk commodity trading space. By performing an enabling role in international trade and globalization, TradeFlow creates growth opportunities for businesses and economies. To date, TradeFlow has successfully invested in more than US$500mn of physical commodity trade through 700+ transactions across 15+ countries and 25+ commodity types, with more than 800 SME counterpart entities KYC reviewed.

In July 2021, Tradeflow was acquired by Supply@ME Capital plc, the innovative fintech platform that provides the Inventory Monetisation© service to manufacturing and trading companies, and which is listed on the London Stock Exchange. The combined strengths of both entities further TradeFlow’s ability to fulfil its mission of enabling trade for SMEs worldwide, and in doing so, support the UN SDGs.

The TradeFlow Funds*, advised by TradeFlow, were conceived in 2016 and launched in 2018. TradeFlow works in partnership with the International Chamber of Commerce, and is a FinTech Certified Company (SFA), a Corporate Member of the Singapore FinTech Association (SFA), a Member of the Alternative Investment Management Association (AIMA), an Associate Member of EuroCham Singapore, and a Gold Member of the South African Chamber of Commerce. 

* No.1 SME-focused trade finance fund in annual net returns to investors in 2020, as reported by Preqin Alternative Investment Database records

www.tradeflow.capital
Please bookmark our media: TradeFlow TV | Twitter | LinkedIN

PR Newswire

Lufax Joins FTSE ESG Low Carbon Select Indexes

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SHANGHAI, Sept. 18, 2021 — Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading technology-empowered personal financial services platform in China, today announced that the Company will be added to the following FTSE ESG Low Carbon Select Indexes, following FTSE Russell’s most recent quarterly review. These inclusions will be applied after the close of business on Friday, September 17, 2021 and will be effective on Monday, September 20, 2021:

  • FTSE Emerging ESG Low Carbon Select Index
  • FTSE Asia ex Japan ESG Low Carbon Select Index

"These are important milestones for Lufax, signifying recognition from the capital markets around the world for our sustainability efforts," commented Guangheng Ji, Chairman of the Company. "Our goal is to become a best-practice benchmark for compliance and governance among overseas-listed Chinese companies. As a technology-driven personal financial services platform, Lufax is committed to leveraging technological strength to promote green, inclusive finance and to implement a low-carbon development strategy."

FTSE Russell, wholly owned by the London Stock Exchange Group, is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes.

The FTSE Russell’s ESG ratings measure the overall quality of a company’s management of ESG issues through over 300 indicators, 14 themes and three pillars including environmental, social, and governance. The FTSE ESG Low Carbon Select Index Series, which uses FTSE Russell’s Target Exposure methodology, targets 50% reduction in index level carbon emissions, 50% reduction in fossil fuel reserves and 20% improvement in index level ESG ratings. For more information, please refer to the Index page on FTSE’s website at https://research.ftserussell.com/products/downloads/FTSE_ESG_Low_Carbon_Select_Index_Ground_Rules.pdf

About Lufax Holding Ltd

Lufax Holding Ltd is a leading technology-empowered personal financial services platform in China. Lufax Holding Ltd primarily utilizes its customer-centric product offerings and offline-to-online channels to provide retail credit facilitation services to small business owners and salaried workers in China as well as tailor-made wealth management solutions to China’s rapidly growing middle class. The Company has implemented a unique, capital-light, hub-and-spoke business model combining purpose-built technology applications, extensive data, and financial services expertise to effectively facilitate the right products to the right customers. For more information, please visit www.lufaxholding.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about Lufax’s beliefs and expectations, are forward-looking statements. Lufax has based these forward-looking statements largely on its current expectations and projections about future events and financial trends, which involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. These forward-looking statements include, but are not limited to, statements about Lufax’s goals and strategies; Lufax’s future business development, financial condition and results of operations; expected changes in Lufax’s income, expenses or expenditures; expected growth of the retail credit facility and wealth management markets; Lufax’s expectations regarding demand for, and market acceptance of, its services; Lufax’s expectations regarding its relationship with borrowers, platform investors, funding sources, product providers and other business partners; general economic and business conditions; and government policies and regulations relating to the industry Lufax operates in. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Lufax’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Lufax does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contacts
For media inquiries, please contact:
Lufax Holding Ltd
Email: YUXIYUAN925@lu.com

Edmond Lococo
Tel: +86 138-1079-1408
Email: Edmond.Lococo@icrinc.com 
            Lufax.PR@icrinc.com

PR Newswire

The First Performance Art NFT Exhibition Of EchoX, A Million-dollar Vision On Its Debut, Overturns The Game

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TAIPEI, Sept. 17, 2021 — Asia’s New NFT curating and management platform EchoX is officially launched today along with an exciting announcement of its very first NFT performance art called "We Are What We Eat", which is a derivative work from the 2021 Ars Electronica Festival’s "Earth Tour: Taste Soil". Created by leading cultural figures VR Gold Award Director Hsin-Chien Huang, Celebrity Chef André Chiang and Contemporary Artist Billy Chang, "We Are What We Eat" involves a co-creation journey featuring the world’s first edible NFT.

"We Are What We Eat" artists and EchoX's incubator (from left): contemporary artist Billy Chang, VR gold award director Hsin-Chien Huang, 2-star michelin chef André Chiang and LeadBest Consulting Group's CEO Neil Lee
"We Are What We Eat" artists and EchoX’s incubator (from left): contemporary artist Billy Chang, VR gold award director Hsin-Chien Huang, 2-star michelin chef André Chiang and LeadBest Consulting Group’s CEO Neil Lee

Not so long ago, Beeple’s NFT platform, WeNew, released the NFT commemorative work "LOUIS: The Game” for the 200th birthday of Louis Vuitton, which has attracted significant attention and sparked a new wave of cross-arts NFT practices. Though the NFT market is hot, much of the focus has been on creating digital art by digital creators. While according to statista, the global market value of NFT is around 330 million US dollars, compared to the 50 billion US dollars in the global art market value, it only contributes less than 1%. So here comes EchoX — unlike most NFT trading platforms focused only on the digital art circle, filling the big gap by targeting the other 99% of creators, galleries, and brands and providing them the right NFT managing and curating tools to experiment with the intersection of cryptocurrency and culture with the following reimagined ways to interact with NFT.

1. Anti-counterfeiting certificate

Empowering an art by minting an NFT as the corresponding traceable anti-counterfeiting certificates mapped to the original artwork. It allows creators, artists, or brand owners to easily mint their NFT and issue them on various platforms while grasping business opportunities in real-time price tracking.

2. Smart receipt and safekeeping system

NFT as smart receipt and safekeeping system to allow artwork owners to auction or merchandise more easily with NFT, whereas the corresponding physical work is kept in the gallery or a third party institute. This characteristic also increases the artwork liquidity with the authentication ensured.

3. Co-creation certificate of Performance art

NFT can also be applied as a co-creation certificate for performance art, allowing art creators to issue NFTs as an invitation to participate and produce together and furthermore to share the right of future potential dividends.

EchoX is funded by SG Asia Capital (an NFT fund based in Singapore) and incubated with the Venture Studio model by LeadBest Consulting Group (Asia’s top ten blockchain consulting firm awarded by APAC CIO Outlook). The strategic investment round was led by the LeadAgileX Industry Empowerment Fund and backed by angel investors including Mindfulness Capital who participated in the equity investment of top blockchain projects such as Bitmain and Sandbox, as well as expert consultants who specialize in blockchain and cultural fields.It is estimated a total of 1.2 million US dollars as the initial investment of this project.

The founding team members include international curators, technology and financial talents, including international curating consultant Dr. Shin-Yi Yang (Cornell University art history PhD), digital empowerment experts LeadBest founder Chia-Hsien Lee; first Taiwanese in Singularity University Dr. Ju-Chun Ko; Curating director Dr. Chia-Wei Wen; (Candidate) of National Taiwan University of Art AMCP, COO Kuan-Ting Liu, and CPO Chi-Tse Chang. Moreover, EchoX is linking to one of the top blockchain multi-signature vault systems, Cybavo, for the preservation of NFT assets. In addition, global strategic partners also include Thomas Ao, Mindfulness Capital (a blockchain capital fund) founder, Ke-Fei Lin, technical director of VC Trade, a subsidiary of the SBI Group, and Taien Wang, information security consultant and the founding chairman of TGONetworks, Chien-Chih Liu, a collector and chairman of Kings Town Bank International Lease Corporation, and Kelvin Chung, legal counsel KPMG partner lawyer.

"NFT will bring an explosive impact to the art market in the near future," emphasized by co-founder Dr. Shin-Yi Yang, an internationally renowned curator.

EchoX, COO Kuan-Ting Liu said, "It is foreseeable that more art trading will take place online through virtual certificates, NFT, which also echoes the original vision of EchoX. That is, to provide NFT management tools and online curatorial consulting services for galleries and creators."

"The cultural and creative industry also needs digital empowerment. So far less than 1% of the global art industry applies blockchain technology. EchoX is aiming at the other 99% entering the brand-new market together. The future possibility is exciting," commented Neil Lee, CEO of LeadBest Consulting Group, the incubator of EchoX.

The first exhibition is going to be a wow in the global NFT market, more surprising curating projects have been in preparation all the way until the end of the year. NFT is the most popular buzzword in crypto and digital markets nowadays, we believe that more cross-field collaborations will be revealed soon.

About EchoX

EchoX is the online-offline curating expert, providing NFT management tools and consulting services in online curating. Dedicated to making online-offline curating and NFTs as easy as artists are creative, EchoX supports and collaborates with galleries, artists and brands to curate a world of echoes altogether whether in the physical world or the metaverse.

Website: echox.app

Facebook: www.facebook.com/TheEchoXio

Instagram:  www.instagram.com/echox.io

Twitter: https://twitter.com/Echoxio

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