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PR Newswire

Chunghwa Telecom Reports Un-Audited Consolidated Operating Results for the Fourth Quarter and Full Year of 2020

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TAIPEI, Feb. 4, 2021 — Chunghwa Telecom Co., Ltd. (TAIEX: 2412, NYSE: CHT) ("Chunghwa" or "the Company") today reported its un-audited operating results for the fourth quarter and full year of 2020. All figures were prepared in accordance with Taiwan-International Financial Reporting Standards ("T-IFRSs") on a consolidated basis.

(Comparisons throughout the press release, unless otherwise stated, are made with regard to the prior year period.)

Fourth Quarter 2020 Financial Highlights

  • Total revenue increased by 7.7% to NT$59.48 billion.
  • Domestic fixed communications revenue increased by 10.2% to NT$20.24 billion.
  • Mobile communications revenue increased by 2.0% to NT$24.96 billion.
  • Internet revenue increased by 18.3% to NT$9.72 billion.
  • International fixed communications revenue decreased by 18.5% to NT$ 2.14 billion.
  • Total operating costs and expenses increased by 11.3% to NT$50.30 billion.
  • Net income attributable to stockholders of the parent increased by 5.8% to NT$8.23
    billion.
  • Basic earnings per share (EPS) was NT$1.06.

Full Year 2020 Financial Highlights

  • Total revenue remained flat at NT$207.61 billion  
  • Domestic fixed communications revenue increased by 5.9% to NT$ 69.47 billion
  • Mobile communications revenue decreased by 5.5 % to NT$ 90.23 billion
  • Internet revenue increased by 5.5% to NT$ 32.12 billion
  • International fixed communications revenue decreased by 22.8 % to NT$ 8.70 billion
  • Total operating costs and expenses remained flat at NT$ 166.85 billion
  • Net income attributable to stockholders of the parent increased by 1.9 % to NT$
    33.42 billion.
  • Basic earnings per share (EPS) was NT$4.31

Mr. Chi-Mau Sheih, Chairman and CEO of Chunghwa Telecom, stated, "We are excited to end 2020 with strong operational and financial results. As we maintain our leading position in the mobile sector, we are pleased to report the number of 5G sign-ups had exceeded our annual target more quickly than anticipated. The launch of the iPhone 12 is also expected to bring 5G subscribers to adopt higher price plans. We remain dedicated to providing our clients with excellent connection and experiences by accelerating our buildout of 5G and develop 5G enterprise private network and other smart applications. We aim to build and accumulate more than 10,000 base stations by the end of 2021." 

"During the height of the pandemic, consumers and businesses had an increased need for top performance and advanced capabilities as network connectivity proved essential for work and entertainment. Thus, we saw the number of subscribers that signed up for higher connection speeds increase by double digits. Similarly, we expect the Tokyo Olympic Games and free-to-choose MOD package bundling to further enhance overall MOD revenue based on our current leading position. In addition, Chunghwa was the first operator in Taiwan to receive qualification as both an Azure Expert Managed Service Provider and AWS Managed Service Provider, marking a milestone for our ICT business. As our ICT revenue increased year-over-year, we will continue to enhance our ICT technologies and provide excellent service to our clients."

"Turning to 2021, we will continue to invest in our core business and enhance our capabilities through acquisitions, develop market-leading offerings to support our customers, and create sustainable value to our shareholders," Mr. Sheih concluded.

Revenue

Chunghwa Telecom’s total revenues for the fourth quarter of 2020 increased by 7.7% to NT$59.48 billion.

Domestic fixed revenue for the fourth quarter of 2020 increased by 10.2% year over year to NT$20.24 billion, mainly due to higher ICT project revenue. The local telephone service revenue decreased by 3.6% to NT$6.04 billion, primarily driven by the increased mobile and VoIP substitution.

Mobile communications revenue for the fourth quarter of 2020 increased by 2.0% to NT$24.96 billion, mainly due to the increase of smart device sales, which offset the decrease of mobile service revenue.

Internet business revenue for the fourth quarter of 2020 increased by 18.3% year over year to NT$9.72 billion.

International fixed communications revenue decreased by 18.5% to NT$2.14 billion.

Total revenue for the full year of 2020 remained flat at NT$207.61 billion.

Operating Costs and Expenses

Total operating costs and expenses for the fourth quarter of 2020 increased by 11.3% year over year to NT$50.30 billion, mainly due to higher ICT project costs and cost of goods sold.

Total operating costs and expenses for 2020 remained flat at NT$166.85 billion.

Operating Income and Net Income

Income from operations for the fourth quarter of 2020 increased by 5.7% to NT$10.50 billion. The operating margin was 17.7%, as compared to 18.0% in the same period of 2019. Net income attributable to stockholders of the parent increased by 5.8% to NT$8.23 billion. Basic earnings per share was NT$1.06.

Income from operations for 2020 increased by 4.2 % to NT$ 42.36 billion. The operating margin was 20.4%, compared to 19.6% for 2019. Net income attributable to stockholders of the parent increased by 1.9 % to NT$ 33.42 billion. Basic earnings per share was NT$4.31.

Cash Flow and EBITDA

Cash flow from operating activities for the fourth quarter of 2020 increased by 16.2% to NT$27.40 billion, which was mainly due to an increase of accounts payable.

Cash and cash equivalents, as of December 31st, 2020, decreased by 10.6% to NT$ 30.44 billion, as compared to that as of December 31st, 2019.

EBITDA for the fourth quarter of 2020 increased by 6.1% to NT$19.89 billion. EBITDA margin was 33.44%, as compared to 33.94% in the same period of 2019.

EBITDA for 2020 increased by 3.8 % to NT$ 78.70 billion, and EBITDA margin was 37.91%, compared to 36.54% for 2019.

Capital Expenditure ("Capex")

Total Capex for the fourth quarter of 2020 increased by 18.9% to NT$ 9.28 billion.

Business and Operational Highlights

Broadband/HiNet

The Company continued to execute its strategy of encouraging FTTx migration. As of December 31st, 2020, the number of FTTx subscribers reached 3.62 million, accounting for 83.3% of the Company’s total broadband users. Moreover, the number of subscribers signing up for speeds of 100Mbps or higher increased by 11.0% year over year, reaching 1.76 million. 

HiNet broadband subscribers decreased by 1.1% year over year to 3.58 million as of December 31st, 2020.

Mobile

As of December 31st, 2020, Chunghwa Telecom had 11.30 million mobile subscribers, representing a 6.1% year-over-year increase.

Fixed line

As of December 31st, 2020, the Company maintained its leading position in the fixed-line market, with a total of 9.90 million subscribers.

(in NT$ billion)

2020

2019

YoY%

Oct.-Dec.

Jan.-Dec.

Oct.-Dec.

Jan.-Dec.

Oct.-Dec.

Jan.-Dec.

Revenue

59.48

207.61

55.23

207.52

7.7

0.0

Operating costs and
expenses

50.30

166.85

45.20

166.74

11.3

0.1

Other income and
expense

1.32

1.60

-0.10

-0.13

1,437.2

1,353.1

Income from
Operations

10.50

42.36

9.93

40.65

5.7

4.2

Income before
Income Tax

10.42

42.84

10.00

41.75

4.2

2.6

Net income
attributable to
stockholders of the
parent

8.23

33.42

7.77

32.79

5.8

1.9

EBITDA

19.89

78.70

18.75

75.82

6.1

3.8

EPS(NT$)

1.06

4.31

1.00

4.23

5.8

1.9

2021 Guidance

For 2021, the Company expects total revenue to increase by 0.8~1.0%, to NT$209.26~NT$209.72 billion as compared to the un-audited consolidated total revenue of 2020. Operating costs and expenses are expected to increase by 0.4%~0.5%, to NT$167.58~NT$167.66 billion as compared to the prior year.  Income from operations is expected to decrease by -1.5%~0.4% to NT$41.72~NT$42.51 billion, year over year.

Income before income tax and net income attributable to stockholders of the parent are expected to be NT$42.08~NT$43.61 billion and NT$32.60~NT$34.09 billion, respectively. Basic earnings per share is expected to be NT$4.20~NT$4.40.

Acquisition of Material Assets in 2021 is expected to decrease by NT$26.83 billion to NT$44.32 billion as compared to the prior year.

(NT$ billion except EPS)

2021(F)

2020

(un-audited)

 change

YoY(%)

Revenue

209.26~209.72

207.61

1.65~2.11

0.8%~1.0%

Operating Costs and Expenses

167.58~167.66

166.85

0.73~0.81

0.4%~0.5%

Other Income and Expense

0.12~0.37

1.60

(1.48)~(1.23)

(92.5%)~(76.9%)

Income from Operations

41.72~42.51

42.36

(0.64)~0.15

(1.5%)~0.4%

Non-operating Income

0.36~1.10

0.48

(0.12)~0.62

(25%)~129.2%

Income before Income Tax

42.08~43.61

42.84

(0.76)~0.77

(1.8%)~1.8%

Net Income Attributable to
Stockholders of The Parent

32.60~34.09

33.42

(0.82)~0.67

(2.5%)~2.0%

EPS(NT$)

4.20~4.40

4.31

(0.11)~0.09

(2.5%)~2.0%

EBITDA

79.90~80.65

78.70

1.20~1.95

1.5%~2.5%

EBITDA Margin

38.2%~38.5%

37.9%

0.3%~0.6%

Acquisition of Material Assets

44.32

71.15

(26.83)

(37.7%)

    Mobile Broadband 
    Concession

–

47.37

(47.37)

(100.0%)

      Acquisition of Property, 
      Plant and Equipment and 
      Intangible Assets

43.15

23.60

19.55

82.8%

             Others

1.17

0.18

0.99

550.0%

Disposal of Material Assets

0.99

0.80

0.19

23.8%

Note 1: "Other income and expenses" includes gains (losses) on disposal of property, plant and equipment (PP&E) and investment property, and impairment loss on PP&E and investment property.
Note 2: The calculation of growth rates is based on NT$ thousand.

Financial Statements

Financial statements and additional operational data can be found on the Company’s website at http://www.cht.com.tw/en/home/cht/investors/financials/quarterly-earnings

NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and 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" and similar statements. Statements that are not historical facts, including statements about Chunghwa’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to the risks outlined in Chunghwa’s filings with the U.S. Securities and Exchange Commission on Forms F-1, F-3, 6-K and 20-F, in each case as amended. The forward-looking statements in this press release reflect the current belief of Chunghwa as of the date of this press release and Chunghwa undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date, except as required under applicable law.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.

NON-GAAP FINANCIAL MEASURES

To supplement the Company’s consolidated financial statements presented in accordance with International Financial Reporting Standards pursuant to the requirements of the Financial Supervisory Commission, or T-IFRSs, Chunghwa Telecom also provides EBITDA, which is a "non-GAAP financial measure".  EBITDA is defined as consolidated net income (loss) excluding (i) depreciation and amortization, (ii) total net comprehensive financing cost (which is comprised of net interest expense, exchange gain or loss, monetary position gain or loss and other financing costs and derivative transactions), (iii) other income, net, (iv) income tax, (v) (income) loss from discontinued operations.

In managing the Company’s business, Chunghwa Telecom relies on EBITDA as a means of assessing its operating performance because it excludes the effect of (i) depreciation and amortization, which represents a non-cash charge to earnings, (ii) certain financing costs, which are significantly affected by external factors, including interest rates, foreign currency exchange rates and inflation rates, which have little or no bearing on our operating performance, (iii) income tax (iv) other expenses or income not related to the operation of the business. 

CAUTIONS ON USE OF NON-GAAP FINANCIAL MEASURES

In addition to the consolidated financial results prepared under T-IFRSs, Chunghwa Telecom also provide non-GAAP financial measures, including "EBITDA". The Company believes that the non-GAAP financial measures provide investors with another method for assessing its operating results in a manner that is focused on the performance of its ongoing operations.

Chunghwa Telecom’s management believes investors will benefit from greater transparency in referring to these non-GAAP financial measures when assessing the Company’s operating results, as well as when forecasting and analyzing future periods. However, the Company recognizes that:

  • these non-GAAP financial measures are limited in their usefulness and should be considered only as a supplement to the Company’s T-IFRSs financial measures;
  • these non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the Company’s T-IFRSs financial measures;
  • these non-GAAP financial measures should not be considered to be superior to the Company’s T-IFRSs financial measures; and
  • these non-GAAP financial measures were not prepared in accordance with T-IFRSs and investors should not assume that the non-GAAP financial measures presented in this earnings release were prepared under a comprehensive set of rules or principle.   

Further, these non-GAAP financial measures may be unique to Chunghwa Telecom, as they may be different from non-GAAP financial measures used by other companies. As such, this presentation of non-GAAP financial measures may not enhance the comparability of the Company’s results to the results of other companies. Readers are cautioned not to view non-GAAP results as a substitute for results under T-IFRSs, or as being comparable to results reported or forecasted by other companies.

About Chunghwa Telecom

Chunghwa Telecom (TAIEX 2412, NYSE: CHT) ("Chunghwa" or "the Company") is Taiwan’s largest integrated telecommunications services company that provides fixed-line, mobile, broadband, and internet services. The Company also provides information and communication technology services to corporate customers with its big data, information security, cloud computing and IDC capabilities, and is expanding its business into innovative technology services such as IoT, AI, etc. In recent years, Chunghwa has been actively involved in corporate social responsibility and has won domestic and international awards and recognition. For more information, please visit our website at www.cht.com.tw

Related Links :

http://www.cht.com.tw

PR Newswire

Soprano Design Launches First Whole of Government Communications Platform as a Service

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SYDNEY, Feb. 4, 2021 — Soprano Design, a global leader in CPaaS (Communications Platform as a Service), announced today its Whole of Government communication solution tuned specifically to meet the needs of large government messaging and capable of spanning across multiple government departments and agencies to become the platform of choice.

The Australia-hosted platform is dedicated for government communications and will be available to Australia government agencies starting March 1, with plans to expand hosting into select countries globally during 2021.

For the first time, governments can consolidate their existing G2C (government-to-citizen) services onto a single communications platform to better engage with their citizens.

"As governments increasingly compete for citizen’s attention and trust, there’s an increasingly pressing need for siloed government departments to band together to leverage more powerful communication technology, allowing them to roll out more engaging programs and to communicate in ways that build trust," said Dr. Richard Favero, CEO and Chairman at Soprano. "This is truly the next frontier in government communications, because as citizens, we want to be engaged with our government and we increasingly expect our government services to provide us with more thoughtful and trustworthy information. Enterprises already know that mobile messaging now offers powerful interactive ways of building this trust, and we’re grateful we can begin to help governments with their mission to engage in meaningful ways with citizens."

Additional solution features include:

  • Available on the Australian Digital Marketplace – making it convenient for organizations to begin including sophisticated communications in their digital transformation process
  • Capabilities for the entire government body or on a dedicated individual department basis
  • Expertly secured and capable of being locally hosted for each corresponding government
  • A vast menu of off-the-shelf internal communications and intra-department applications, including a secure IP messaging capability with encryption and Common Criteria certification

The past year has made government officials worldwide acutely aware how every branch of their organization needs to send trusted communications as emergency scenarios of 2020 disrupted the status quo of proper and effective messaging. Given the shift of accelerated digital transformation in this sector, governments are reassessing how they can utilize common communication channels such as SMS, voice, email, WhatsApp and RCS to inform citizens regarding important announcements, daily appointments and reminders. This digital transformation pushes the confines and limitations of traditional approaches by government communication.

Soprano is a global enabler of government services worldwide and already powers some of the world’s largest government organizations’ communications needs. Soprano’s expansive services include integrating with applications commonly used in social services, tax, voting and tax organisations but also with postal services, utilities, healthcare and mental health services, education programs, tourism, and more. Specific government services enabled by Soprano depend on the region needs.

Soprano’s omnichannel enterprise mobile messaging platform helps government agencies around the world. The platform’s omnichannel capabilities give governments the ability to transform the way they interact and reach communities across all departments such as finance, transportation, public health, education and security.

The platform also offers a powerful secure IP messaging capability that can integrate with government services, allowing organizations to offer G2C secure mobile messaging in adherence with applicable compliance laws.

Soprano’s trusted mobile communication platform adheres to recommended best practices to provide a secure mobile messaging solution that can become part of a proactive IT security program, designed to minimise the risks and costs associated with service disruptions.

For more information on our government solutions, please visit: https://www.sopranodesign.com/solutions/government-mobile-messaging/.

ENDS

 

Related Links :

https://www.sopranodesign.com/

PR Newswire

AMTD Calvin Choi: face up to difficulties, brave the winds and waves

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HONG KONG, Feb. 3, 2021 — A few days ago, Calvin Choi, the Chairman and CEO of AMTD Group, Vice President of China Youth Entrepreneurs Association, and Vice Chairman of Greater Bay Area Common Home Youth Charity Fund, published a signed article in "Ta Kung Pao" to share AMTD’s development path.

In the era of the new economy, under the global epidemic of COVID-19, how can companies survive and remain competitive? In Mr.Calvin Choi’s opinion, embracing the development of the Greater Bay Area and enhancing technological innovation will become the elements of Hong Kong’s future development prospects. Young people in Hong Kong must have creative and innovative thinking, but also have the courage to take responsibility, stand firm in their ideals, grasp the nettle and brave the Winds and Waves

In recent years, AMTD Group has grown from a small local licensed institution in Hong Kong to a comprehensive enterprise covering investment banking, digital finance, asset management, insurance brokerage and other financial fields, as well as education, real estate, professional services and other fields. AMTD International (NYSE: HKIB/SGX: HKB), an investment banking platform, is listed on the New York Stock Exchange and SGX. It is also the largest independent investment bank in Asia. Among them, AMTD has established a deep influence in the field of regional banks in China. In the past four years, AMTD has taken the lead in participating in almost all regional banks’ Hong Kong stock and overseas preferred stock issuance projects. AMTD also took the lead in listing leading regional banks and jointly established the "Regional Bank+" strategic alliance to explore the digital development and internationalization of China’s regional banks.

Mr.Calvin Choi recalled that around 2000, after Hong Kong returned to the motherland, as the first batch of Hong Kong youths who went northward, they were deeply involved in the restructuring, development and innovation of China’s banking industry, and deeply felt the great achievements of China’s financial reform. Mr.Calvin Choi have always been very optimistic about the innovation development potential of China’s regional banks, especially the efforts and achievements of leading regional banks in financial technology innovation. Under Mr.Calvin Choi’s leadership, AMTD has strategically invested in Qingdao Bank (03866), ZHONGYUAN Bank (01216) and Jiangxi Bank (01916). As the first Hong Kong-funded non-bank financial institution to invest heavily in regional banks in China, it is the industry leader They have established a deep cooperative relationship.

Looking to the future, AMTD will focus its efforts on the deployment of full digital financial licenses to create a comprehensive platform connecting the Bay Area and ASEAN. As a result, AMTD has recently successfully reduced some of its shares in Qingdao Bank, and has allocated funds to fully attack the acquisition and merger opportunities in the digital financial sector in Asia. After the reduction, AMTD remains an important shareholder of Qingdao Bank, ranking one of the five largest shareholders.

Mr.Calvin Choi deeply understand that the spirit of entrepreneurs is the driving force behind the sustainable development of enterprises. In the past few years, Mr.Calvin Choi have encountered countless opportunities, as well as countless challenges and difficulties. He said, "In particular, I have encountered many things that have been questioned and incomprehensible by the outside world. What is more, there are those who envy and jealous, and those who are cold-eyed and mockers, and malicious There are slanderers. However, entrepreneurs must insist that development is the last word, persist in dare to try, dare to be the first to lead reform and breakthrough with thought-breaking ice, keep upright and innovate, forge ahead courageously, adhering to the spirit of the predecessors under the Lion Rock, and firmly building the property of Hong Kong A century-old shop of this generation."

PR Newswire

AMTD Announced Strategic Acquisition of Nexia TS, Calvin Choi became the non-executive Chairman of Nexia TS

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HONG KONG, Feb. 2, 2021 — AMTD teams up with Nexia TS to create a Pan-Asian Digital Professional Services Platform headquartered in Singapore and develop Singapore’s professional talents with a hiring plan of additional 100 local staff, especially mid-career Singaporeans, with at least 60% women in the next twelve months.

AMTD Group, a leading comprehensive financial service conglomerate in Asia, announced today that it will officially set up a new business arm – AMTD Services Group ("AMTD Services"), which represents a new add-on to the AMTD’s IDEA strategy ("AMTD IDEAs"), including AMTD International (HKIB:NYSE; HKB:SGX), AMTD Digital, AMTD Education and AMTD Assets. AMTD Services today announced its acquisition of a controlling stake in the non-assurance business of Nexia TS Group (‘Nexia TS’), a Singapore Top 10-ranked homegrown accounting and consulting firm, and an independent member firm of Nexia International network. Calvin Choi, Chairman and CEO of AMTD Group, will also become the non-executive Chairman of the overall Nexia TS Group.

This is AMTD’s fourth controlling stake acquisition in Singapore following the acquisitions of PolicyPal, Singapore’s leading InsurTech company and the first graduate from Monetary Authority of Singapore’s FinTech Sandbox; FOMO Pay, the one-stop QR code and digital payment solutions provider in Southeast Asia; and CapBridge, Singapore’s first regulated securities exchange for digital assets and private companies and Singapore’s leading integrated private market ecosystem platform.

After the acquisition, Nexia TS will be a core subsidiary member within the AMTD Group. It will become the pivotal platform under AMTD Services, AMTD’s digital professional services arm to serve Asian SMEs. This is part of AMTD’s endeavour to build a comprehensive digital solutions platform for Asian SMEs with capabilities in digital finance, digital community and ecosystem connect, supply chain solutions and digital professional services. Last month, AMTD signed a strategic collaboration agreement with GlobalLinker, a key participant in the Business-Sans-Borders initiative to jointly build a digital community and digital tool portal for Asian SMEs.

Nexia TS provides a wide range of services including tax compliance & advisory, IPO services, risk advisory, business valuation, M&A advisory and due diligence services, forensic advisory etc. In order to help Asian companies accelerate their digitalization and better serve SMEs, Nexia TS has various digital platforms which include cloud accounting, payroll and data analytics together with cybersecurity, data protection, blockchain advisory services and virtual collaboration tools in response to the growing market needs. On an overall basis, Nexia TS Group has served over 90 listed companies and assisted 38 IPO listings. Nexia TS embraces diversity and women leadership with over 40% of its directors being women.

Calvin Choi, Chairman and CEO of AMTD Group, commented, "High quality professional services with local know-how and in-depth insights, enriched by solid understanding into local dynamics and culture are key to the success and sustainability of SMEs. Nexia TS’s comprehensive range of solutions provide businesses with smart tools to improve internal processes and controls and increase productivity.

Women leadership and diversity are also part of AMTD’s strategy and core values. We welcome Nexia TS, Henry and his team to join the AMTD family to strengthen our digital offerings and provide a true one-stop user journey to SMEs. We strive to help accelerate the digitalisation of SMEs in Singapore and beyond, and serve their different needs across their lifecycles through a Pan Asian Digital Professional Services Group. Most importantly, through Nexia TS Group, we are committed to contributing to and developing Singapore into a professional services talent hub with a local hiring plan of over 100 local staff in the next 12 months with a particular focus into women talents to comprise at least 60% of the hiring."

Henry Tan, Group CEO and co-founder of Nexia TS, added, "We are excited to be on this journey with AMTD to further develop our 3Ps growth strategy – Prepare, Position and Progress. This pandemic is a catalyst of digital acceleration for businesses to thrive in a crisis. With our expertise and knowledge in the professional services arena, I am confident that we can add value to the AMTD SpiderNet ecosystem and assist SMEs in their digitalization roadmap while embracing capabilities and network of the AMTD family. Given that AMTD has comprehensive investment banking capabilities in Singapore, Hong Kong, and the U.S. markets, the synergies are mutual and will be well-complemented with our IPO and M&A experience in the region".

Patrick Tay, Assistant Secretary-Generals of the National Trades Union Congress, added, "I am glad to see AMTD teaming up with Nexia TS to create a Pan-Asian Digital Platform headquartered in Singapore to provide comprehensive professional and financial related services. In particular, I am elated to hear of the organisation’s focus and efforts to develop Singaporean talents and its commitment to hire an additional 100 local PME staff, especially mid-career Singaporeans, with a particular focus on hiring female talents, in the next twelve months."

About AMTD Group

AMTD Group is a leading comprehensive financial services conglomerate, with core businesses in investment banking, asset management, digital financial solutions; and non- financial services areas including education and real estate investment.

AMTD International (NYSE: HKIB; SGX: HKB), a subsidiary of AMTD Group, is the largest independent investment bank in Asia and one of Asia’s largest independent asset management companies, and has been a leading investor in FinTech and new economy sectors. AMTD International was successfully listed on the New York Stock Exchange in 2019, representing the first Hong Kong headquartered financial institution listed on NYSE. On April 8, 2020, AMTD International completed its successful listing on SGX- ST, which marks a series of historical milestones, including:

The first company ever to be dual listed on NYSE and SGX;
The first company featuring dual-class shares (DCS) listed on SGX; and
The first company to conduct a digital listing ceremony in Singapore.

AMTD Digital, the digital solutions arm of AMTD Group, is headquartered in Singapore engaging in digital financial services, digital marketing and data intelligence, digital connectors and ecosystem building, and digital investments. AMTD Digital aims to build a one-stop, comprehensive, cross-market, and innovative digital solutions platform.

About Nexia TS

Nexia TS provides a wide range of services including tax compliance & advisory, IPO services, risk advisory, business valuation, M&A advisory and due diligence services, forensic advisory etc. In order to help Asian companies accelerate their digitalization and better serve SMEs, Nexia TS has various digital platforms which include cloud accounting, payroll and data analytics together with cybersecurity, data protection, blockchain advisory services and virtual collaboration tools in response to the growing market needs. On an overall basis, Nexia TS Group has served over 90 listed companies and assisted 38 IPO listings. Nexia TS embraces diversity and women leadership with over 40% of its directors being women.

PR Newswire

CJC Strengthens Commercial Management Services Through Global Expansion And Strategic Initiatives

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CJC is expanding their Commercial Management business to help global clients adopt more compliant and cost-effective commercial management processes around the sourcing, licensing and reporting of market data.

LONDON, Feb. 2, 2021 — Driven by increasing client demand, CJC is expanding their Commercial Management business through several strategic initiatives and growing their consultancy teams in London and Hong Kong to provide extended service capabilities and support coverage across multiple time zones for their global clients.

 

 

Launching in Q1 of 2021, the enhanced managed service offering includes invoice processing, inventory management and business reporting services. Complemented with local consultancy offerings such as business cost and risk management, CJC is better positioned to help clients manage and improve their market data commercial environments.

Several strategic initiatives comprise of improving service management functions and reporting as well as integrating best-practice methodologies for process and documentation management. Additionally, various cross-regional projects have also been launched such as workflow automation, toolset optimization and customer onboarding efficiency.

To ensure cultural cohesion, a critical success factor entails leveraging the diversity of skillsets and capabilities of consultants across regions. This involves subject matter experts in business analysis, inventory, data licensing and audit based in London collaborating with client solution specialists in Hong Kong with technical backgrounds in accounting, finance and systems integration.

Janet Mail, Global Head of Commercial Management at CJC, commented: "By bringing on board additional industry-certified expertise and developing a diversity of skillsets and capabilities, we are able to deliver more cost-effective management processes, consistency in service quality and drive best practice standards for clients. Our enhanced solutions have been developed with the goal of improving client experience which I believe is our competitive advantage when compared to alternative offerings."

Yan Shih, Head of Asia at CJC, commented: "Developing Commercial Management capabilities in Asia has been a key milestone for us. By leveraging CJC’s global expertise combined with our regional consultancy services, we are continually improving our offering as a strategic value-add and cost-effective commercial management solution for financial institutions and other market data consumers in Asia."

With an increased global footprint and extended service capabilities alongside a strong culture of collaboration, CJC is better positioned to support existing and new managed service assignments, respond with greater agility to new requirements and introduce new, region-specific propositions. Existing clients will benefit from enhanced service quality with greater confidence in the running of their market data environment, while new clients will enjoy faster integration with their internal environment and processes.

About CJC Ltd.

CJC is a leading independent market data technology consultancy and services firm. We have over twenty years’ experience in design, build and operate services for multi-vendor market data environments for the financial services community. Our Commercial Management business focuses on helping clients address the complexity of sourcing, licensing and obligatory reporting of market data from vendors and exchanges.
www.cjcit.com 

For further information, please contact: 
cjccm@cjcit.com

For press enquiries, please contact: 
Katie Goldsmith (katie.goldsmith@cjcit.com) +44 (0)203 328 7543

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PR Newswire

MPI Advanced Semiconductor Test Division (AST) Moves into New Facility

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MPI’s Advanced Semiconductor Test Division (AST) proudly announces a move into a new 5-floor facility located next to the original MPI Corporate Headquarters in Hsinchu, Taiwan. The expansion is a necessary and significant step as a result of MPI’s growth over the last several years.

HSINCHU, Feb. 2, 2021 — MPI Corporation’s Advanced Semiconductor Test Division, a leading provider of accurate and innovative wafer level test solutions for the semiconductor industry, is moving into a new facility in Hsinchu, Taiwan. MPI Corporation is responding to increased industry demand for its semiconductor test equipment due to growing technology inflections points such as 5G wireless, artificial intelligence and machine learning.

"We are very pleased to announce the opening of a new facility," says Scott Kuo, CEO of MPI Corporation. "This is not only an opportunity to bring our relatively new Advanced Semiconductor Test and Thermal Divisions directly within the MPI corporate park, but it also allows us to further expand our manufacturing capabilities and meet the growing needs of the semiconductor test market."

The new Advanced Semiconductor Test facility plant comprises over 90,000 square feet, along with several areas designated for office, production, application, demonstration, training center and a first floor loading dock.

"Our team could not be prouder of the achievements these past few years, as the Advanced Semiconductor Test Division became an undisputed innovation and a market leader in several segments within our served available market," says Dr. Stojan Kanev, General Manager of the Advanced Semiconductor Test Division. "In our new production site, the division will achieve even greater flexibility to meet the exceed customer demands, such as accelerated support, delivery and overall response times."

The new location has begun operation, and the first systems will be delivered to customers starting in January 2021.

About MPI Corporation

Founded in 1995 and headquartered in Hsinchu, Taiwan, MPI Corporation is a global technology leader in Semiconductor, Light Emitting Diode (LED), Photo Detectors, Lasers, Materials Research, Aerospace, Automotive, Fiber Optic, Electronic Components and more. MPI’s four main business sectors include Probe Card, Photonics Automation, Advanced Semiconductor Test and Thermal Divisions. MPI products range from various advanced probe card technologies, probers, testers, material handlers, inspection and thermal air systems. Many of these products are accompanied by state-of-the-art Calibration and Test & Measurement software suites. The diversification of product portfolio and industries allows a healthy environment for employee growth and retention. Cross pollination of product technologies allows each new innovation to provide differentiation in areas that are meaningful to our precious customer base.

For more information please visit: mpi-corporation.com

PR Newswire

ECXX and UOB Kay Hian collaborate to offer Securitised Token Offerings

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  • This collaboration brings ECXX technology platform to UOB Kay Hian’s large pool of investors in Asia.
  • ECXX’s digital platform was an early pioneer RMO offering securities in Fintech Sandbox Express approved by the Monetary Authority of Singapore.
  • Robust and exciting pipeline of deep-tech start-ups to be marketed to the accredited investors of both parties.

SINGAPORE, Feb. 1, 2021 — ECXX Global, a pioneer in operating digital asset exchange using blockchain technology, announced today that it has entered into an important collaboration with regional brokerage UOB Kay Hian to bring in deep-tech start-ups to their network and offer them the opportunity to list via Securitised Token Offerings (STOs) to raise growth capital.

Under this collaboration, both companies will facilitate tokenization projects and tap on UOB Kay Hian’s large pool of investors to market and distribute tokens to potential investors.

They will comply with regulations for token issuance and they will provide investor education and analysis on tokenization and tokens investment.

"We are excited by the opportunities arising from this collaboration with UOB Kay Hian.

They are one of the leading regional brokerage out there and we believe that we are able to address their large list of accredited investors who are interested in token investment. In addition, the synergy from this collaboration will create more opportunities for investors to tap into digital assets and the blockchain space," said Mr Branson Lee, Chief Executive Officer of ECXX.

With Singapore currently being Asia’s highest-ranking fintech city and seeing a growth of 30% of fintech funding over the past few years from 2015 to 2019[1], this collaboration presents great opportunity for UOB Kay Hian to expand their business into the fintech sector, growing their already well-established presence in the banking and finance sector.

ECXX is also able to leverage on this collaboration and accelerate the development and expansion of their fintech business.

ECXX had already previously secured admission from the Monetary Authority of Singapore ("MAS") to the Fintech Sandbox Express under a Recognised Market Operator (RMO) regime.

This makes them an early pioneer RMO offering securities in Fintech Express Sandbox approved by the Monetary Authority of Singapore to be integrated with MyInfo, the one-stop Singapore government identity platform.

Mr Esmond Choo, Senior Executive Director of UOB Kay Hian, said, "The ECXX platform is designed to be very versatile and will serve the fast growing digital asset space. UOB Kay Hian is very happy to work with ECXX, a company which has a strong domain knowledge in STO offerings matched by a robust pipeline of rapid growth technology-based companies. We believe that this collaboration will allow us to leverage our respective strengths to grow our presence the fintech sector."

About ECXX

ECXX is a premier Digital Securities Exchange made in Singapore with a global reach, allowing users to buy, sell, and store digital assets. Its platform is dedicated to offer unique experiences regardless whether you are a professional or institutional trader. It is a Recognised Market Operator (RMO) offering Digital Securities In MAS Fintech Sandbox Express. ECXX is the 1st Exchange to be approved and the only private company to be onboarded for MyInfo Business.

For more information, please visit https://www.ecxx.com/

About UOB Kay Hian

UOB-Kay Hian Group is a regional financial services group headquartered in Singapore. It is a widely recognised brand in every jurisdiction in which it has operations such as Singapore, Hong Kong, Thailand, Malaysia, Indonesia, London, New York and Toronto. In Singapore, it is the largest domestic broker based on the number of registered trading representatives employed. In addition to its broking agency services in equities, bonds, CFDs, DLCs, Robo, LFX and commodities, it provides high value-added services in corporate advisory and fund raising, leveraging on its wide network of corporate contacts and deep distribution capabilities to execute IPOs, secondary placements and other corporate finance and investment banking activities. Our regional distribution footprint now spans regional financial centres.

For media queries, please reach out to:

Ashley Tan
FPR
E: ashley@financialpr.com.sg
T: (+65) 6438-2990

Related Links :

https://www.ecxx.com/

PR Newswire

Acorn International Completes Going Private Transaction

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SHANGHAI, Jan. 30, 2021 — Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), a leading marketing and branding company in China, today announced the completion of its merger (the "Merger") with First Ostia Port Ltd., a Cayman Islands exempted company (the "Controlling Shareholder"), pursuant to the previously announced definitive Agreement and Plan of Merger dated October 12, 2020 (the "Merger Agreement") among the Company, First Ostia Port Ltd., and its wholly owned subsidiary Second Actium Coin Ltd., a Cayman Islands exempted company ("Merger Sub"). As a result of the Merger, the Merger Sub has merged with and into the Company thereby becoming a wholly owned subsidiary of the Controlling Shareholder.

Pursuant to the terms of the Merger Agreement, which was approved at the extraordinary meeting of shareholders held on January 21, 2021 (US time), each ordinary share, par value $0.01 per share, of the Company (a "Share" or, collectively, the "Shares"), including Shares represented by American Depositary Shares, each representing twenty Shares (the "ADSs"), issued and outstanding immediately prior to the Effective Time (i.e., today, January 29, 2021), other than certain excluded shares (as described in the Company’s proxy statement relating to the Merger) has been canceled in exchange for the right to receive $1.05 in cash per Share without interest (the "Per Share Merger Consideration"). As each ADS represents twenty Shares, each ADS issued and outstanding immediately prior to the Effective Time, other than ADSs representing certain excluded shares, has been canceled in exchange for the right to receive $21.00 in cash without interest (the "Per ADS Merger Consideration") pursuant to the terms and conditions set forth in the Merger Agreement.

Shareholders and ADS holders of record as of the effective time of the Merger who are entitled to the merger consideration will receive a letter of transmittal and instructions on how to surrender their share certificates or ADS certificates in exchange for the merger consideration (net of any applicable withholding taxes). Shareholders and ADS holders of record should wait to receive the letter of transmittal before surrendering their share or ADS certificates. For ADSs’ held in "street name" by a broker, bank or other nominee that are entitled to the merger consideration, payment of the merger consideration of US$21.00 per ADS in cash without interest (less a cancellation fee of US$0.05 per ADS and net of any applicable withholding taxes) will be made to ADS holders promptly after Citibank, N.A., the Company’s ADS depositary, receives the merger consideration.

The merger consideration remitted by First Ostia Port Ltd. was substantially financed by East West Bancorp, Inc., a publicly owned company with total assets of $50.4 billion and traded on the Nasdaq Global Select Market under the symbol "EWBC". The Company’s wholly-owned subsidiary, East West Bank, is one of the largest independent banks headquartered in California, operating over 125 locations in the United States and Greater China. For more information on East West Bank, visit the Company’s website at www.eastwestbank.com.

The Company also announced today that it requested that trading of its ADSs on the New York Stock Exchange ("NYSE") will be suspended as of the close of trading on January 29, 2021. The Company requested the NYSE to file a Form 25 with the U.S. Securities and Exchange Commission (the "SEC") notifying the SEC of the delisting of its ADSs on the NYSE and the deregistration of the Company’s registered securities. The deregistration will become effective 90 days after the filing of the Form 25, or such shorter period as may be determined by the SEC. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by filing a Form 15 with the SEC. The Company’s obligations to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15, and will terminate once the deregistration becomes effective.

About Acorn International, Inc.

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

Safe Harbor Statement 

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

Investor Contacts:

Acorn International, Inc.

              Compass Investor Relations

Mr. Jacob A. Fisch

              Ms. Elaine Ketchmere, CFA

Phone +86-21-5151-8888

              Phone: +1-310-528-3031

Email: ir@chinadrtv.com

              Email: Eketchmere@compass-ir.com

www.acorninternationalgroup.com

              www.compassinvestorrelations.com

 

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PR Newswire

Blue Hat Announces Preliminary 2020 Fourth Quarter Financial Results Highlighted by More Than 70% Increase in Revenue to Approximately US$20 Million

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Company to Announce Full 2020 Fourth Quarter and Year-end Financial Results in March 2021

XIAMEN, China, Jan. 29, 2021 — Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality ("AR") interactive entertainment games, toys and educational materials in China, today announced preliminary unaudited financial results for the fourth quarter ended December 31, 2020.

Fourth Quarter 2020 Highlights

  • Total revenues increased more than 70% to approximately US$20 million, compared to US$11.8 million in the prior-year period, primarily driven by the Company’s new Internet Data Center ("IDC") business, which saw significant growth following the strategic acquisition of Xunpusen Technology Co., Ltd. ("Xunpusen") in the second half of 2020.
  • Revenues for the period do not include contributions from the recently announced acquisition of 51% of Fuzhou Csfctech Co., Ltd. and its two subsidiaries.

The Company anticipates releasing its fourth quarter and full-year 2020 financial results in March 2021.

Management Commentary

Mr. Xiaodong Chen, CEO of Blue Hat, stated, "We are pleased with the top-line growth achieved during the 2020 fourth quarter. This was primarily driven by revenues from our strategic acquisition of Xunpusen, which has set a strong foundation for us to be able to execute an effective sales and marketing strategy for our AR, education, and mobile game products by leveraging their expertise in enterprise software solutions and mobile sales to promote products directly to customers. Xunpusen’s partnership with China Mobile, announced in November of last year, will serve to increase these sales channels and strengthen Blue Hat’s brand as a recognized leader in interactive entertainment and education technologies and implementation."

Mr. Chen continued, "We have invested in the establishment and expansion of our new IDC business to support the sales and marketing efforts of our AR, education, and mobile game offerings, and while we are in the early stages of executing on this growth strategy, we are seeing tangible results from these efforts. We anticipate our operating margins will improve over time as we continue to sign new agreements for our AR and mobile game offerings and increase sales of our retail products and interactive education initiatives."

About Blue Hat

Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games, and toys with mobile game features. The Company’s interactive entertainment platform creates unique user experiences by connecting physical items to mobile devices, which creates a rich visual and interactive environment for users through the integration of real objects and virtual scenery. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.

Forward-Looking Statements 

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.

Contacts:

Blue Hat Interactive Entertainment Technology

Phone: +86 (592) 228-0010

Email: ir@bluehatgroup.net

 

Investor Relations:

The Equity Group Inc.   

In China

Adam Prior, Senior Vice President  

Lucy Ma, Associate

(212) 836-9606  

+86 10 5661 7012

aprior@equityny.com    

lma@equityny.com

                                                             

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PR Newswire

HotForex starts the new year with more global recognition

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The award winning CFDs broker starts 2021 with two new global awards for being the Most Trusted Forex Broker and having the Best Forex Educational Resources.  

PORT LUIS, Mauritius, Jan. 29, 2021 — Leading CFD broker HotForex has received two new titles from the Global Forex Awards, "Most Trusted Forex Broker – Global" and "Best Forex Educational Resources – Global", in recognition of the company’s exceptional commitment to helping its clients feel secure, supported, valued and confident at every step of their trading journey!

With over 2.5 million live accounts opened, HotForex is proud to be a trusted broker of choice around the world. They provide free negative balance protection to every client, market leading insurance up to €5,000,000 and a dedicated 24/5 support team.  The company received the award commenting: "From the start, our mission has been to provide the best customer service by maintaining a superb client centric culture. It is wonderful to have our success noticed and appreciated not just by our clients, but by some of the industry’s most respected awarding bodies."

The company also received the "Best Forex Educational Resources – Global" award for providing a variety of educational resources to help traders at every level. Commenting on this win the company said: "We are aware that education is an important part of every trading journey.  Our educational resources, which include online and offline materials alongside live weekly webinars, provide our traders with everything they need to enhance their trading knowledge."      

HotForex CEO George Koumantaris said: "These new awards are a great way to start the new year.  We are thrilled to be recognized once again and remain committed to finding new and exciting ways to enhance our clients’ trading experience."

Visit the HotForex website today to find out more about their award-winning products and services and the advantages of trading with a reliable global broker of choice.   

About HotForex

HotForex is an internationally acclaimed multi-asset broker of choice to over 2.5 million live accounts worldwide that has earned over 45 coveted industry awards. The company offers a wide variety of account types, innovative products, platforms, tools and educational resources besides outstanding customer service and unparalleled trading conditions.

Risk Warning

Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital.

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Contact:  HF Markets Ltd, marketing@hotforex.com, +44-2033185978

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