Tag Archives: FIN

PR Newswire

CLPS Incorporation Invests in E-Commerce to Diversify Its Business Model

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HONG KONG, Jan. 22, 2021 — CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today announced its strategic investment, through its wholly owned subsidiary, ChinaLink Professional Services Co. Ltd., in Shanghai Shier Information Technology Co., Ltd. ("SSIT"), an e-commerce services provider. CLPS has indirectly taken 35% ownership stake in SSIT as part of the Company’s growth strategy to diversify its business model.

SSIT develops and offers e-commerce platform products integrated with rebate program as its main and unique feature. Its products include the "Group Store", an online one-stop shop platform exclusive for an enterprise’s employees; and "Duoshouji", a mobile application available for all Android and iOS users. SSIT has partnered with over 10 leading e-commerce companies, catering to hundreds of brands in China and to its over 100,000 registered users, of which more than 50% are active users. SSIT has attracted a large scale, long standing, and loyal customer base as a result of its well-received platform among the enterprises’ users.

The advent of mobile internet and 5G technology defines the ever-changing trend for acquiring online traffic. This trend is expected to be a more efficient way compared to traditional and costly methods such as search engine optimization (SEO), search engine marketing (SEM) and social media promotion, among others.

Over the years, CLPS has been focused on the business-to-business (B2B) model, and its partnership with SSIT now paves the way to penetrate the business-to-consumer (B2C) through enterprise employee data outreach. In addition, CLPS and SSIT have agreed to integrate more financial products and services into the Group Store as part of an enterprise’s development strategy, leveraging the Company’s expertise in the financial industry.

Mr. Henry Li, Chief Operating Officer of CLPS, said, "The investment in SSIT marks our attempt to enter the B2C business. We are optimistic that this investment will not only generate and improve our financials, but will also complement the respective competitive advantage in B2B and B2C to build an online traffic platform, a new engine of attracting potential clients and a vehicle to fulfill our future business model diversification."

About CLPS Incorporation

Headquartered in Hong Kong, CLPS Incorporation (the "Company") (Nasdaq: CLPS) is a global leading information technology ("IT"), consulting and solutions service provider focusing on the banking, insurance and financial sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong, and their PRC-based IT centers. The Company maintains 18 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Baoding, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Suzhou. The remaining eight global centers are located in Hong Kong SAR, USA, UK, Japan, Singapore, Malaysia, Australia, and India. For further information regarding the Company, please visit: http://ir.clpsglobal.com/, or follow CLPS on Facebook, LinkedIn, and Twitter.

Forward-Looking Statements

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company’s financial and operational performance in the second half and full year of fiscal 2020, its expectations of the Company’s future performance, its preliminary outlook and guidance offered in this presentation, as well as the risks and uncertainties described in the Company’s most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Contact: 

CLPS Incorporation
Rhon Galicha
Investor Relations Office 
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com

Related Links :

http://www.clps.com.cn

PR Newswire

INTEGRATED MEDIA TECHNOLOGY LIMITED Announces Changes to The Board of Directors

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SYDNEY, HONG KONG and NEW YORK, Jan. 22, 2021 — Integrated Media Technology Limited (NASDAQ: IMTE) ("IMTE" or the Company), announced on January 19, 2021 changes to its Board with the appointment of Mr. Luis Puyat to its Board of Directors and the change of status of Mr. Uwe Parpart from Independent non-Executive Director to Executive Director.

With effect from January 15, 2021, Mr. Puyat will serve as an Independent non-Executive Director and a member of the Board’s Audit Committee and Remuneration Committee. The size of IMTE’s Board was increased from five to six members with Mr. Puyat’s appointment.

Mr. Puyat is currently the Chief Executive Officer of VGP Investments, Inc. a privately held PE firm based in Makati, Metro Manila. Mr. Puyat is also the Executive Director of privately funded First Sovereign Asset Management, Inc. Prior to this, Mr. Puyat was involved in the Puyat family owned Manila Bank from 1986 to 2007, acting as the president from 1994 to 1999, and as Chairman of the Board from 1999 to 2007.

On the same date, Mr. Uwe Parpart’s status was changed from Independent non-Executive Director to Executive Director. Mr. Parpart also resigned from the Audit Committee.

Mr. Con Unerkov. Chairman and CEO of IMTE, stated, "We are pleased to welcome Mr. Luis Puyat as a new Independent non-Executive Director to the IMTE Board. Mr. Puyat is an accomplished financial executive with over 25 years of relevant experience. He is an ideal addition to IMTE’s team as we continue to drive our business strategy forward especially with our new securities research and risk analysis business in China that was recently announced through an investment in Greifenberg Capital Limited.".

As announced on December 29, 2020, IMTE entered into an agreement acquiring up to 60% of Greifenberg Capital Limited to provide risk analysis on China’s securities markets. Our Director Mr. Uwe Parpart who has over 30 years of experience as a senior executive in the finance industry will manage the roll out of this business. Accordingly, Mr. Parpart’s status as a Director changes from Independent non-Executive Director to Executive Director.

Mr. Uwe Parpart, IMTE’s new Executive Director commented, "I have known Luis for over three decades. His extensive experience in the banking and asset management industry in Asia will be extremely helpful in guiding our strategic efforts in research and risk analysis for China’s fast-growing securities industry. We are very excited to have Luis join IMTE’s Board of Directors."

Mr. Puyat commented, "I am familiar with IMTE’s overall business and the new financial services initiative in China. I have known Mr. Parpart for over three decades and collaborated with him on banking ventures on several occasions in the past. I am confident that I can contribute, in particular, to the successful commercialization of IMTE’s securities markets undertaking. I look forward to working with the skilled board of directors as we continue to execute our strategy, drive profitability and enhance value for all our shareholders."

About Integrated Media Technology Limited

Integrated Media Technology Limited. is engaged in the business of glass-free 3D (also known as autostereoscopic 3D) display, the manufacture and sale of nano coated plates for air filters, the sale of electronic glass and financial research and data services. The three new business operations in air filters, electronic glass and financial research services are expected to form the foundation of our future growth strategy.

For more information, please visit www.imtechltd.com.

Safe Harbor Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding IMTE’s expectations, intentions, strategies, and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements because of various important factors, including those described in the Company’s most recent filings with the SEC. IMTE assumes no obligation to update publicly any such forward-looking statements, whether because of new information, future events or otherwise. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section entitled "Risk Factors" in IMTE’s annual reports on Form 20-F and interim reports on Form 6-K filed with the SEC, as such factors may be updated from time to time in IMTE’s periodic filings with the SEC, which are accessible on the SEC’s website and at http://www.imtechltd.com.

Related Links :

http://www.imtechltd.com

https://www.imtechltd.com

PR Newswire

OKExChain launches Swap and Farm DApps, allowing users to increase their OKT earnings

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VICTORIA, Seychelles, Jan. 22, 2021 — OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is delighted to announce that the team behind the open-source blockchain OKExChain has launched two decentralized applications, OKEx Swap and OKEx Farm, on the protocol. Both these new features, along with the opening of the OKT/USDT Farm Pool commenced today at 10:00 am UTC. 

OKT withdrawals also opened at the same time, giving OKT holders the ability to stake OKT along with USDT in Swap to earn OKT-USDT LP tokens. These can then be used to stake in the OKT-USDT Farm Pool for additional earnings, such as mining new OKT.

The OKEx Swap and Farm initiatives have been enabled by the initial stability testing of the OKExChain mainnet that generated tens of thousands of OKT block rewards (according to OKExChain’s block reward rules). These tokens have not yet been allocated, meaning that OKT holders can unlock significant rewards by mining OKT on-chain.

The size of the reward will be voted on by the OKT/USDT whitelist pool on Jan. 26 at 10:00 am UTC. If the vote is approved, a snapshot will be taken according to the blocks that voted in favor, and the accumulated OKT will be distributed according to the proportion of OKT-USDT LP tokens that they had staked in the OKExChain Farm pool when the proposal was approved.

The amount of OKT that users can mine is equal to the number of tokens staked divided by the total number of tokens in the Farm Pool, multiplied by the cumulative amount of OKT. After the cumulative OKT allocation is complete, users can continue to mine through the OKT-USDT Farm Pool. Staking starts as soon as the Farm function is launched. 

"The phased launch of OKExChain is moving along at a very encouraging pace. Already after completion of the initial stage, we have seen its native token, OKT, commanding an all-time high of $86.54 in its first days of trading on the OKEx platform. We’re thrilled that the team behind OKExChain has been able to provide OKT holders with even more benefits through the Swap and Farm initiatives and to see OKExChain expanding its utility," commented OKEx CEO Jay Hao.

In addition to staking and mining rewards via OKEx Swap and Farm, OKT provides users with further immediate utility and benefits, including voting rights and transaction-fee payments for decentralized exchanges and other DeFi applications built on the network. OKT is currently available to trade on the OKEx platform with zero fees on all trading pairs for the first 30 days.

For further information on OKEx Swap and OKEx Farm DApps, please visit the OKEx Support Center here.

About OKEx

A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

PR Newswire

MediWelcome Soars 26% in Trading Debut

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Pharmaceutical Giant CSPC Pharma Becomes the Largest Placee Join Forces to Expand Internet Hospital Services

HONG KONG, Jan, 22, 2021 — Mediwelcome Healthcare Management & Technology Inc. ("MediWelcome") commenced trading of its shares on the Main Board of SEHK on 19 Jan, 2021. The stock code of MediWelcome is 2159. Shares of MediWelcome were actively traded and opened at HK$4.00, up 33% against its issue price of HK$3.00. It surged to the day’s high at HK$4.81 before closing at HK$3.79, up 26% over its issue price. Total transaction volume was approximately 101 million shares, with an aggregate turnover of approximately HK$403 million.

CSPC Pharma Becomes the Largest Placee of the International Offering
Co-operation Between the Two Deepened

CSPC Pharmaceutical Group Limited ("CSPC Pharma"; stock code: 1093), a leading pharmaceutical listed company in Hong Kong, has been allotted 8,000,000 shares, representing approximately 32% of 25,000,000 Shares, the final number of Offer Shares under the International Offering, and approximately 4% of total issued share capital upon listing. As a result, CSPC Pharma has become the largest placee of the International Offering.

At the end of 2020, MediWelcome announced a strategic partnership of internet hospital services with CSPC Pharma. They launched a "Stroke Patients Standardised Post-Treatment Management Project" through MediWelcome’s internet hospital platform to provide one-stop post-treatment services, including consultation, visiting, checking, medicine delivery to the stroke patients in China. The project has already launched in Shanghai and Jilin, and will promote to the whole country to create a standardised post-treatment management ecosystem for Chinese stroke patients. Becoming the largest placee, CSPC Pharma undoubtedly shows its confidence in MediWelcome’s execution abilities in internet hospital services. The co-operation between MediWelcome and CSPC Pharma will trigger the Group’s innovation in the new business and will drive the business development of the Group.

Commenting on the positive reception from market in its trading debut, Mr. Shi Wei, Chairman of the Board and Executive Director, said, "The successful listing on SEHK marks a significant milestone of the Company’s business development. I would like to express our deepest gratitude to our investors for their recognition and support. Also, I am grateful for CSPC Pharma joining our International Offering. CSPC Pharma has been our long-term strategic partner. And now it has also become our shareholder, which showed its full trust in MediWelcome. I believe our co-operation will be deepened as CSPC Pharma is one of our shareholders now and will lay a solid foundation for the expansion and the development of our new business, so we will have a broader developmental prospect. The cheering stock performance is the best demonstration of the Company’s capabilities and investors’ confidence. Looking ahead, we will continue our business development at internet hospital services and we will be able to foster sustainable growth with a view to striving for optimal returns for our shareholders."

PR Newswire

Acorn International’s Shareholders Approve Going Private Transaction

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SHANGHAI, Jan. 22, 2021 — Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), a leading marketing and branding company in China, today announced that at an extraordinary general meeting of shareholders (the "EGM") held today, the Company’s shareholders voted in favor of, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger (the "Merger Agreement") with First Ostia Port Ltd., a Cayman Islands exempted company ("Parent"), and Second Actium Coin Ltd., a Cayman Islands exempted company and a wholly-owned subsidiary of Parent ("Merger Sub"), the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the "Plan of Merger") in connection with the Merger; and the consummation of the transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger (collectively, the "Transactions").

Approximately 98% of the voting rights of the shares voting in person or by proxy were voted in favor of the proposal to authorize and approve the Merger Agreement, Plan of Merger and the Transactions contemplated by the Merger Agreement, including the merger. A two-thirds majority of the voting power represented by the shares of the Company present and voting in person or by proxy at the EGM was required for approving the merger.

The parties currently expect to complete the merger as soon as practicable, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. Upon completion of the merger, the Company will become a privately held company and its American depositary shares will no longer be listed on the New York Stock Exchange.

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, including whether certain conditions precedent to the Merger will be satisfied, which (if they are not) would mean the Merger may not close, 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

 

Related Links :

http://www.acorninternationalgroup.com

PR Newswire

SoftBank Ventures Asia-backed Global Localization Service Iyuno Media Group Acquires SDI Media

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Creating the Media and Entertainment Industry’s Most Comprehensive Global Localization Services Company

LOS ANGELES, Jan. 22, 2021 — Iyuno Media Group, a market leader in localization services to the media and entertainment industry, announced today that it has entered into an agreement with Imagica Group Inc. to acquire 100% of SDI Media. This transaction, which is subject to review and approval from relevant authorities, brings together two companies with the shared mission of supporting, innovating and leading the art of global storytelling. Terms of the transaction were not disclosed. 

 

Iyuno was supported in this transaction by SoftBank Ventures Asia (SBVA), Altor and Shamrock Capital, its primary financial partners. Iyuno counts SBVA – Iyuno’s first institutional investor – as one of its key backers.

Consumer spending on content is predicted to double from 2019 to 2024; this explosive growth brings with it a parallel increase in demand for high quality localized content.

“As two of the leading media and entertainment localization service providers in the world, together we will provide an unprecedented solution to the market,” said David Lee, Executive Chairman, Iyuno Media Group. “Both companies are perceived as leaders of quality services, global coverage and innovation. By combining the two, our goal is to effectively support the rapidly growing need from media businesses around the world – not only by offering scale, global coverage and end-to-end capabilities across our worldwide operations – but also by utilizing state-of-the-art technologies such as AI to bring true best-in-breed support for the industry.”

“We are excited to join Iyuno and become part of the industry’s leading localization services company,” said Mark Howorth, Chief Executive Officer, SDI Media. “We believe that the increasing global content distribution needs of the industry can only be served by a complementary service provider that can scale with them in support of their needs.”

JP Lee, CEO and Managing Partner of SoftBank Ventures Asia said, “Iyuno has become a significant market leader through this historical merger with SDI. As Iyuno’s first investor and partner, we have closely supported the company to grow to be a leading global player in the media localization space. We are pleased to see this exciting momentum in the expansion of Iyuno Media Group.”

ABOUT IYUNO MEDIA GROUP

Iyuno Media Group (www.iyunomg.com) is a market leader in media localization with leading-edge technology providing dubbing, subtitling and media engineering services in over 80 languages. An innovative trailblazer with grounded core values in an ever-changing industry, Iyuno Media Group uses its sophisticated in-house technology for all of its product and service offerings. Today, the company operates 35 local facilities globally, spanning a network of fully owned sites across 30 countries in Europe, Asia and The Americas – offering end-to-end solutions for broadcasters, all major film studios, OTT and streaming platforms.

ABOUT SDI MEDIA

SDI Media (www.sdimedia.com) is one of the world’s leading media localization providers offering dubbing, subtitling and media services to content owners, broadcasters and multi-platform distributors. SDI Media offers a complete end-to-end localization solution for theatrical releases and episodic series, using one of the most comprehensive suites of customizable localization software applications in the industry. Its network of 33 owned and operated dubbing facilities in Asia, EMEA and the Americas boast over 150 recording rooms and 85 mixing rooms globally.

ABOUT SOFTBANK VENTURES ASIA

Founded in 2000, SoftBank Ventures Asia is the early-stage venture capital arm of the SoftBank Group. Our expertise lies in ICT investments including AI, IoT, and smart robotics. We look for early to growth-stage startups that have strong business potential in the global market and assist them to be plugged into the SoftBank ecosystem by facilitating side-by-side growth. SoftBank Ventures Asia currently operates $1.3B under management, investing in innovative technology startups across the world.

 

Related Links :

http://www.softbank.co.kr/en2/

PR Newswire

SAP Hong Kong and Deloitte Help Cross-Border Businesses Navigate Ongoing Trade Complexity

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HONG KONG, Jan. 22, 2021 — As COVID-19 continues to disrupt the trade industry, SAP Hong Kong and Deloitte are working continuously to help enterprises navigate a more complex and turbulent trade environment with SAP Global Trade Services (SAP GTS).

As the market share leader in the global trade compliance systems sector, SAP has various solutions including GTS that have been successfully deployed in nearly 3,000 enterprises in 25 industries and more than 170 countries. A centralized global trade management platform that automates and streamline trade processes, SAP GTS enables enterprises to better control costs, manage free-trade agreements and customs procedures, and reduce non-compliance risk. Deployed on-premises or in the cloud, it serves as a repository for all compliance master data and content, allowing businesses to integrate all of their trade services. 

Working closely with SAP, Deloitte offers one-stop end-to-end global trade services, including SAP GTS-enabled Smart GTS serving as a "direct train" to global trade and help enterprises achieve compliance, cost reduction, intelligence and synergy for global trade management in the increasingly complex international trade environment, and thus implement their global development strategies. Its integrated global practice offers a mix of multidisciplinary trade specialists with extensive experience in compliance, customs, preferential trade agreements, technology implementation know-how and unmatched experience across industries worldwide.

Fabian Padilla Crisol, Managing Director, SAP Hong Kong, said, "Business leaders in high-tech, life sciences, luxury goods, industrial machinery and other sectors understand the importance of optimizing cross-border supply chains. With the support of SAP GTS and Deloitte, these businesses are now well positioned to navigate an increasingly volatile and complex global trade environment in 2021 and beyond."

Andy Zhou, Deloitte Consulting China SAP Offering Leader, said, "To prosper in the dynamic global trade environment, enterprises are required to keep up with the cross-border trade policies and regulations, meet new consumer demand and the development needs of complex supply chains. The combination of Deloitte’s services and SAP GTS technology allows deep integration and seamless connection to establish a stable, efficient and compliant global trade management model and solution."

Key features of SAP GTS include:

  • Customs management: The system enables the seamless flow of corporate supply chain data to external suppliers and regulators, with customs declarations and documentation being automatically generated, shared and managed. This process automation decreases errors and accelerates the customs clearance process for faster and more efficient business operations.
  • Compliance management: SAP GTS enables enterprises to automatically run compliance checks, which includes managing licenses and export controls and scanning up-to-date blacklisted and embargoed countries. This reduces compliance risks and avoids supply chain disruption for business continuity.
  • Trade preference management: The system helps enterprises determine the rules of origin and conduct free-trade agreement planning and management so as to take advantage of preferential tariff treatments and lower business cost.   
  • Global trade analytics: SAP GTS integrates directly with SAP S/4HANA®, SAP ERP and other business software systems. This supports sales, procurement, and logistics processes that are essential to efficient export and import management.

About SAP

SAP’s strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 77% of the world’s transaction revenue touches an SAP® system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. For more information, visit www.sap.com/hk.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities (collectively, the "Deloitte organization"). DTTL (also referred to as "Deloitte Global") and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.

Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our global network of member firms and related entities in more than 150 countries and territories (collectively, the "Deloitte organization") serves four out of five Fortune Global 500® companies. Learn how Deloitte’s approximately 330,000 people make an impact that matters at www.deloitte.com.

Deloitte Asia Pacific Limited is a company limited by guarantee and a member firm of DTTL. Members of Deloitte Asia Pacific Limited and their related entities, each of which are separate and independent legal entities, provide services from more than 100 cities across the region, including Auckland, Bangkok, Beijing, Hanoi, Hong Kong, Jakarta, Kuala Lumpur, Manila, Melbourne, Osaka, Seoul, Shanghai, Singapore, Sydney, Taipei and Tokyo.

The Deloitte brand entered the China market in 1917 with the opening of an office in Shanghai. Today, Deloitte China delivers a comprehensive range of audit & assurance, consulting, financial advisory, risk advisory and tax services to local, multinational and growth enterprise clients in China. Deloitte China has also made – and continues to make – substantial contributions to the development of China’s accounting standards, taxation system and professional expertise. Deloitte China is a locally incorporated professional services organization, owned by its partners in China.  To learn more about how Deloitte makes an Impact that Matters in China, please connect with our social media platforms at www2.deloitte.com/cn/en/social-media.

This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms or their related entities (collectively, the "Deloitte organization") is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.

No representations, warranties or undertakings (express or implied) are given as to the accuracy or completeness of the information in this communication, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this communication. DTTL and each of its member firms, and their related entities, are legally separate and independent entities.

© 2021. For information, contact Deloitte China.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
© 2020 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices.

PR Newswire

O’Ratings’ Report: An Emerging Market Amounted $800 Billion Is Booming in China

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– Do live streamers know how to keep their online selling well under such bad situation

– Do consumers know how to buy conveniently without going out

SHANGHAI, Jan. 21, 2021 — A new e-commerce model create great condition for consumers—- live streaming shopping. In 2020, live streaming shopping industry develop rapidly in China, bringing great economic benefits to China. In the fourth quarter of 2020, the number of live streaming users reached 627 million, accounting for 64.3% of all Internet users, up 2.28% from the third quarter. Moreover, the users of live streaming shopping reached 364 million, accounting for 58.1% of the overall live streaming market. Also, about 710 million people have watched the live streaming shopping, and the total sales has exceeded 760 billion RMB (117.68 billion US$), according to O’Ratings’ report.

Live streaming of e-commerce became an essential consumption channel.

At the beginning of 2020, due to the pandemic, global economic development is hindered. Many live streaming platforms were trying to offer innovative ways to help brands and small business sell their products and this enables customers to buy easier. And the live streaming shopping has attracted many large brands and celebrities to participate. As more and more businesses flood into the live streaming industry, some problems were exposed. However, after a series of policy releases and rapid adjustments, coupled with various holiday promotions at the end of the year, the live streaming shopping ushered in a small upsurge again.

E-commerce occupied the main live streaming industry

In the past, entertainment and games occupied the main live streaming industry. After catching up for three quarters, e-commerce surpassed entertainment and games in the fourth quarter, occupying a major position in live streaming.

Besides, O’Ratings also mentions three interesting findings.

  • The ratio of male to female users is 3:7 for live streaming of e-commerce, while female users account for 76.9% of spending that. Beauty products, food, clothing and fresh food are top 3 of products that women prefer to buy, while home appliances, computers, food and clothing are top 3 of products that men prefer to buy.
  • The main consumers of live streaming shopping are between 30 and 39 years old. Data shows their live streaming consumption reached 236 billion RMB (36.54 billion US$), with about 1.485 billion transactions, and the average price of each transaction was 179.3 RMB (27.76 US$).
  • Live streamer of shopping has become one of the most widely accepted professions. People from their teens to their sixties can be live streamers. Most of them are in their 20s and 30s. Also, the types of live streamers have become diversified. Different from the traditional live streamers of game, which are mainly ordinary people, live streamers of e-commerce include web celebrities, industry opinion leaders, stars, hosts, enterprise executives, experts, manufacturers, shopping guides and so on.

* Data from O’Ratings, an independent third party live streaming monitoring institution. The monitoring time is from 0:00 on October 1, 2020 to 23:59 on December 31, 2020, and the live streaming programs on all live streaming platforms in China are measured. The five indicators are used to evaluate each live program: live streaming ratings, peak viewers, market share, sales index and engagement index.

PR Newswire

Alon Feit, Co-Founder of Splitit, Joins Verrency

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MELBOURNE, Australia, Jan. 20, 2021 — Global payment innovation company Verrency today announced that Alon Feit, an accomplished payments executive and successful start-up founder, has joined Verrency. Mr. Feit joins Verrency’s global advisory board and will also take responsibility for Verrency’s commercial operations in Israel and selected countries within Europe.

Mr Feit is the co-founder and ex-president and CEO – Splitit Payments Ltd (Splitit), a patented card-based instalment payment solution company (BNPL), leading the company in raising US$130m in equity and US$80m as a debt facility prior to the company’s successful IPO on the ASX. He has held numerous executive leadership roles in the credit card industry for over 25 years at, Mastercard, ITAU-Unibanco Cards and Shufersal Finance.

"I have been following Verrency for a while and have really admired the way that Verrency is solving a major financial services industry problem that couldn’t be timelier – how to drive innovation and unique consumer experiences around the moment of payment for institutions with existing legacy systems and portfolios," said Mr Feit. "Their solution is truly unique in that it can be deployed on top existing payment infrastructure, offering a flexible way for financial institutions to deliver engaging payment experiences at Fintech speed. Their team is absolutely top calibre, and I am excited to be joining Verrency where I can help David and the team expand further across Israel and Europe."

"Alon’s experience in building Splitit and his understanding of the card issuing space are tremendous assets as we look to expand in Europe and Israel," said David Link, Verrency Founder & CEO. "Alon’s vision, passion and his breadth of experience in the card issuing space is precisely where Verrency operates and are invaluable as we continue our expansion.  And having Alon’s experienced insights – he has just successfully grown another fintech – will be instrumental as Verrency further expands its value proposition into BNPL, personalisation and other services around the moment of payment.

Verrency’s industrial-grade platform fits on top of a bank’s, processor’s or wallet’s existing infrastructure, opening the door for rapid delivery of enhanced features and new services without the need to change existing legacy technology or to migrate portfolios. The company’s clients include financial institutions around the world from large tier 1 issuing processors to neobanks to national debit schemes, including Emirates NBD, Volt Bank, EFTPOS, and the US-based global processor FIS, among others.

About Verrency

Verrency puts financial institutions back at the centre of customer engagement. Verrency’s highly secure payments innovation platform helps issuers to acquire and retain customers and increase payment spend while increasing security, control and connectability. Verrency works behind the scenes to enable value-added services for an issuer’s customers quickly and easily without major changes to existing payments infrastructure or the need to integrate to point-of-sale systems. Verrency also enables rapid connection to third-party services via its extensive FinTech ecosystem with little to no integration. For more information, see www.verrency.com.

Related Links :

http://www.verrency.com

PR Newswire

VIISA Hold Virtual Investment Day For The First Time

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HO CHI MINH CITY, Vietnam, Jan. 18, 2021 — On 7 January 2021, VIISA organized Investment Day Batch 8 on its online platform, attracting more than 80 investors as well as corporations and startup community builders. This invite-only event also marked a new milestone for tech-startups Batch 8 in their 4-month journey with VIISA.

Taking place online for the first time, Investment Day Batch 8 solves the problem of geographical distance as well as difficulties in the global context of the COVID-19 pandemic, providing opportunities for startups and investors to share and exchange the latest updates about startup ideas. The event was divided into 2 sessions: live-streamed pitching shows from startups and networking activities between founders and investors with separate rooms for each startup team.

Opening the event, Mr. Vo Tran Dinh Hieu – Board Member and Program Director at VIISA, said: "Unlike any other, we want to preserve the excitement of live pitching, so this is not a recorded video, we have all the founders here with us and they are ready to go. So it is the first week 2021 and it seems like we will have another very eventful year. The UK announced 3rd lockdown, the Capitol Hill was taken yesterday. But still in Vietnam thousands of people gathered for fireworks shows on new year’s eve. I believe this tranquility in Vietnam represents what everyone has achieved in the last year. We all have sharpened our adaptability and agility to maintain the composure of our businesses. I hope we all will carry on this great attitude forward to 2021. We started this batch in June 2020 with 3 companies and only one succeeded to graduation. During this batch, we also continued supporting the alumni to recover from the covid situation."

This year’s Investment Day is not only an opportunity for VIISA Batch 8 startups to demonstrate their maturity, but also a chance for alumni startups who have participated in previous courses to reconfirm their development and position in the startup ecosystem. Whether the startup model is about real estate, fashion, events, e-commerce, technology, and applicability factors are all of the program priorities. With the hope to help young Vietnamese startups build their global business, these are special features that VIISA always appreciates.

Pitching in the event are 5 startups:

CYHOME: CyHome is Vietnam’s leading Property management platform that has already served top-tier customers in the field of Property management (PM) such as CBRE, Proman (Novaland), Visaho, Blue Diamond, My House… With an affordable fee, PMs now can have a world-class ERP, and service providers can have a better way to serve customers. What the startup wants to bring to market is a new way of living and working in crowded cities: with no fee, the resident/tenant should have a premium experience.

DROBEBOX: Drobebox is a disruptive fashion tech startup that offers a clothing subscription service for women. Users could unlock their dream closet, which contains thousands of premium designs with a fixed monthly fee, and enjoy any items without buying, maintaining, or laundry. Starting at 30$ per month, members could explore and enjoy up to 30 new items every month that used to cost them 1000-3000$. Using state-of-art technology such as AI, Drobebox platform provides an "infinity" closet with a true personalization experience that helps dress best every day as simple as ordering food delivery.

WISEPASS: WisePass is a lifestyle app enabling its subscribers to access products, services, or events sponsored by brands. Starting from 239,000 VND per month, a subscriber gets 3 PASS a day to enjoy anything brands provide on the platform.

VDES: VDES is the very first marketplace of the event industry, which connects event venues & event suppliers to customers in the simplest way with advanced technology. During over 4 years of operation, VDES has been partners with more than 520 vendors and organized more than 2250 events for users (customers & cooperate). With technology solutions and event-ecosystem platform, VDES offer service to vendors to increase competitive advantage, increase business efficiency, and decrease operating costs by event management system, we will launch this SAAS in 2021.

ECOMEASY: EcomEasy Asia (ECE) is a dynamic ecommerce solution provider for consumer brands in Vietnam. ECE’s integrated capabilities encompass all aspects of the e-commerce value chain from SKU selection, sales and inventory management to on-site operations, logistics and fulfilment. ECE has generated billions of VND in sales and hundred thousands of orders on all 10 ecommerce platforms operating in Vietnam for a dozen of brands.

The representative from VIISA hopes that Investment Day will provide Vietnamese startup community with many opportunities to connect and exchange knowledge, which contribute to awakening the potential of domestic businesses and open up more opportunities to promote Vietnamese startups

At the end of Investment Day Batch 8, Mr. Hieu also called for startups to apply at www.viisa.vn to capture opportunities for companionship and support from VIISA.

About VIISA:

Established in January 2017 by FPT Ventures and Dragon Capital, VIISA is an acceleration program and seed-stage fund that invests to build global-ready startups from Vietnam. After 7 batches, there have been 40 graduates, in which some startups have successfully called for US $5.5 million committed deals from investors.