Tag Archives: FIN

PR Newswire

Hollysys Announces Management’s Plan to Purchase Public Market Shares

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BEIJING, Jan. 8, 2021 — Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announces that it has been notified that certain members of the Company’s management team plan to purchase the Company’s ordinary shares from the public market at market prices.  The share purchases will be conducted by a special purpose vehicle beneficially owned and funded by management of the Company.  They expect to purchase shares in an aggregate value of up to US$50 million over a six-month period. Shares purchased by management will be subject to a voluntary lock-up period of at least  24 months.  Management will be subject to the Company’s insider trading policy and the SEC reporting obligations.

Ms. Li Qiao, Chairwoman of the Hollysys board, said, "management’s plan to purchase public market shares demonstrates management’s confidence in the Company and their ongoing commitment to delivering value to our shareholders."

About Hollysys Automation Technologies Ltd.

Hollysys is a leading automation control system solutions provider in China, with overseas operations in eight other countries and regions throughout Asia. Leveraging its proprietary technology and deep industry know-how, Hollysys empowers its customers with enhanced operational safety, reliability, efficiency, and intelligence which are critical to their businesses. Hollysys derives its revenues mainly from providing integrated solutions for industrial automation and rail transportation. In industrial automation, Hollysys delivers the full spectrum of automation hardware, software, and services spanning field devices, control systems, enterprise manufacturing management and cloud-based applications. In rail transportation, Hollysys provides advanced signaling control and SCADA (Supervisory Control and Data Acquisition) systems for high-speed rail and urban rail (including subways). Founded in 1993, with technical expertise and innovation, Hollysys has grown from a research team specializing in automation control in the power industry into a group providing integrated automation control system solutions for customers in diverse industry verticals. Hollysys had cumulatively carried out more than 30,000 projects for approximately 17,000 customers in various sectors including power, petrochemical, high-speed rail, and urban rail, in which Hollysys has established leading market positions.

SAFE HARBOUR

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Such forward-looking statements, based upon the current beliefs and expectations of Hollysys’ management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contact information:
Hollysys Automation Technologies Ltd.
www.hollysys.com
+8610-5898-1386
investors@hollysys.com

Related Links :

http://www.hollysys.com

PR Newswire

ChipMOS REPORTS 20.1% YoY INCREASE IN DECEMBER 2020 REVENUE; 13.3% YoY INCREASE IN 4Q20 REVENUE; 13.1% YoY INCREASE IN FY20 REVENUE

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HSINCHU, Jan. 8, 2021 /PRNewswire-FirstCall/ — ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of December 2020 and for the fourth quarter ended December 31, 2020. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$28.08 to US$1.00 as of December 31, 2020.

Revenue for the fourth quarter of 2020 was NT$6,310.3 million or US$224.7 million, representing an increase of 13.3% from the fourth quarter of 2019, and an increase of 11.0% from the third quarter of 2020. Revenue increased 13.1% for the full year 2020 compared to the full year 2019, representing the highest level since 2014. The Company noted that it benefitted from continued strong memory and DDIC demand throughout 2020, with improvements in both volumes and pricing. The Company achieved higher utilization levels led by end-market demand strength in cloud infrastructure, gaming, mobile and industrial.

Revenue for the month of December 2020 was a new record high at NT$2,190.6 million or US$78.0 million, representing an increase of 20.1% from December 2019, and an increase of 6.8% from November 2020. 

Consolidated Monthly Revenues (Unaudited)

December 2020

November 2020

December 2019

MoM Change

YoY Change

Revenues

(NT$ million)

2,190.6

2,051.0

1,823.5

6.8%

20.1%

Revenues

(US$ million)

78.0

73.0

64.9

6.8%

20.1%

 

Consolidated Quarterly Revenues (Unaudited)

Fourth Quarter 2020

Third Quarter

2020

Fourth Quarter

2019

QoQ Change

YoY Change

Revenues

(NT$ million)

6,310.3

5,686.2

5,571.5

11.0%

13.3%

Revenues

(US$ million)

224.7

202.5

198.4

11.0%

13.3%

About ChipMOS TECHNOLOGIES INC.:

ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (https://www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS provide assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries. 

Forward-Looking Statements

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

Contacts:

In Taiwan

Jesse Huang

ChipMOS TECHNOLOGIES INC.

+886-6-5052388 ext. 7715

IR@chipmos.com

In the U.S.

David Pasquale

Global IR Partners

+1-914-337-8801

dpasquale@globalirpartners.com

 

Related Links :

https://www.chipmos.com

PR Newswire

Hollysys’ Board of Directors Rejects Unsolicited Offer

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BEIJING, Jan. 8, 2021 — Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), today announced that its Board of Directors (the "Board"), after careful review and consideration and with the assistance of its executive management team as well as outside financial and legal advisors, has determined that the unsolicited offer made by Mr. Baiqing Shao, CPE Funds Management Limited and purportedly on behalf of Ace Lead Profits Limited (collectively, the "Consortium") on December 7, 2020, to acquire all of the outstanding ordinary shares of the Company for $15.47 in cash per ordinary share, substantially undervalues the Company and is not in the best interest of the Company’s shareholders.

"Our Board is confident in Hollysys’ strategic direction," said Ms. Li Qiao, Chairwoman of Hollysys. "We believe that the Company has significant value creation potential as a result of its leading position in the automation industry and strong research and development capabilities.  Our pursuit of enhanced operational safety, reliability and efficiency, supported by our proprietary technology and industry know-how, enable us to provide better integrated solutions to our customers and allow us to continue to deliver value to our shareholders.  We believe the Consortium’s unsolicited proposal would deprive our shareholders of the value inherent in Hollysys for inadequate consideration.  Our Board is committed to enhancing value for the Company’s shareholders and will protect shareholders against non-strategic or undervalued proposals."

About Hollysys Automation Technologies Ltd.

Hollysys is a leading automation control system solutions provider in China, with overseas operations in eight other countries and regions throughout Asia. Leveraging its proprietary technology and deep industry know-how, Hollysys empowers its customers with enhanced operational safety, reliability, efficiency, and intelligence which are critical to their businesses. Hollysys derives its revenues mainly from providing integrated solutions for industrial automation and rail transportation. In industrial automation, Hollysys delivers the full spectrum of automation hardware, software, and services spanning field devices, control systems, enterprise manufacturing management and cloud-based applications. In rail transportation, Hollysys provides advanced signaling control and SCADA (Supervisory Control and Data Acquisition) systems for high-speed rail and urban rail (including subways). Founded in 1993, with technical expertise and innovation, Hollysys has grown from a research team specializing in automation control in the power industry into a group providing integrated automation control system solutions for customers in diverse industry verticals. Hollysys had cumulatively carried out more than 30,000 projects for approximately 17,000 customers in various sectors including power, petrochemical, high-speed rail, and urban rail, in which Hollysys has established leading market positions.

SAFE HARBOUR

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Such forward-looking statements, based upon the current beliefs and expectations of Hollysys’ management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contact information:
Hollysys Automation Technologies Ltd.
www.hollysys.com
+8610-5898-1386
investors@hollysys.com

Related Links :

http://www.hollysys.com

PR Newswire

AirPay FinTech expands eCommerce partnership with UnionPay and launches Alipay campaign with high-end retailers in Australia

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  • eCommerce merchants can accept UnionPay Online Payment via AirPay FinTech, with extra Chinese marketing support
  • Black Diamond campaign is well accepted by shoppers during Boxing Day

MELBOURNE, Australia, Jan. 7, 2021 — Australia marketing & payment service provider AirPay Financial Technologies "AirPay FinTech" announces eCommerce partnership with UnionPay, a leading international payment network, to offer UnionPay Online Payment in Australia.

In June 2020, AirPay FinTech first launched its UnionPay QR code acquiring services in Australia. UnionPay QR code payment is accepted at over 29 million merchants in mainland China and is accepted in 33 countries and regions outside mainland China.

Co-founder of AirPay FinTech Simon Tse said, "In response to the growing demand for online payment & Chinese marketing services, we have further expanded UnionPay partnership to eCommerce landscape."

"We had a joint venture, ToPay, with leading media group Today Australia last year, and we foresee more strategic partnership, merging & acquisition in 2021," said Tse.

Co-founder of ToPay Stanley Yan said, "We are thrilled to integrate UnionPay Online Payment into our ToPay bill payment product. UnionPay is a popular payment method for overseas Chinese students, providing them a simple and convenient way to pay for tuition fee & everyday bills."

"We look forward to launching UnionPay Online Payment onto new eCommerce platform Umall," said Yan.

In December, AirPay FinTech partnered with Alipay to launch "Black Diamond" campaign to key luxury retailers. Black Diamond is the most privileged membership category within Alipay. By scanning a unique QR code, Alipay users can redeem the best exchange rate offered by Alipay. The campaign is well accepted by Chinese shoppers during Boxing Day.

About AirPay Financial Technologies

AirPay FinTech provides one-stop marketing & payment services for merchants to better communicate with Chinese consumers via marketing, media and payment intelligence. Retail clients include Gucci, YSL, BV, Balenciaga, Alexander McQueen, Givenchy, Valentino, MaxMara, Moncler, Off-White, Harrolds, Marais, Mulberry, Furla, Victoria’s Secret, BrasNthings, Adidas, Champion, Glue Store, Sneakerboy, Culture King, AliceMcCall, Aje, etc.

AirPay FinTech offers Shopify & AsiaPay online payment plugins for online retailers.

About ToPay

ToPay is an app-based bill payment product powered by AirPay FinTech and is embedded within Today Australia app.

Along with the strategic partnership with Gobbill, ToPay is selected as one of the finalists in Finnie Awards 2020.

Related Links :

https://www.airpayfintech.com/

PR Newswire

ATIF Holdings Limited Launches Asset Management As Main Business, Achieves Rates Of Return of 64.77% On Securities Investments In 2020

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LOS ANGELES, Calif., Jan. 6, 2021 — ATIF Holdings Limited (Nasdaq: ATIF, the "Group", "ATIF" or "we"), a company providing business consulting and media services in Asia and North America, plans to fully launch its asset management business in the first quarter of 2021, which is expected to generate stable and sustainable high returns for the Group in the future.

In January 2021, ATIF officially relocated its operational headquarters to California, USA, and launched new business model covering three major sectors: asset management, investment holding and media services. Among the three sectors, asset management is the new main business of the Group, and it is anticipated to provide equity investments and investment advisory services in the U.S. stock market in 2021.

The Group’s asset management team has launched its initial venture into equity investments in January 2021 and has brought ideal results to the Group. The asset management team has adopted a unique "liquidity + volatility" short-term trading strategy, focusing on U.S. Chinese-listed American Depositary Receipts (ADRs) and large-cap quality U.S. stocks, with holding periods ranging from a few hours to a few days. This investment strategy is designed to provide investors with daily liquidity and is an ideal platform for liquidity management. According to Report of Performance Review issued by Spaulding Group, Inc, during the period of January 2 and November 30, 2020 the asset management team has achieved rates of return (ROR) of -6.80%, 21.19%, and 9.08% in the first, second, and third quarters of 2020, respectively, and reached 34.28% in October and November of the fourth quarter, cumulatively generating a high ROR of 64.77% for the first 11 months of 2020. Currently, the Group is applying for the asset management qualification with the Financial Industry Regulatory Authority (FINRA) and expects to complete the qualification filing in January 2021.

After obtaining the qualification of the asset management, the Group plans to establish a private fund to provide equity investments and investment advisory services in the U.S. stock market. Currently, the Group is in the process of submitting application documents to the U.S. Securities and Exchange Commission (SEC) for the establishment of a private fund. The first batch of the private fund is planned to amount to US$50 million and is expected to be approved within the first quarter of 2021, and the second batch of the private fund is planned to amount to US$100 million and is expected to be approved in the second or third quarters of 2021.

Mr. Pishan Chi, Chief Executive Officer and Director of ATIF, commented, "Our team’s portfolio investments in 2020 were so successful that we have incorporated asset management into our business model and made it our main business. Next, our team will improve our data analysis and insight into the secondary market and expedite the filing of the asset management qualification, and then we will launch fund products with high yield and high return. The U.S. stock market is the most promising equity market in the world, and we are confident that this new asset management business will bring the Group a steady income from fund management fees and high return performance bonuses. We look forward to generating stable and sustainable income for the Group and our shareholders in the near future."

About ATIF Holdings Limited

Headquartered in Los Angeles, California, ATIF Holdings Limited ("ATIF") is a holding group with asset management, investment holding and media services sectors and provide business consulting services to small and medium-sized enterprises in Asia and North America, including going public consulting services, international business planning and consulting services, and financial media services. ATIF operates an internet-based financial consulting service platform IPOEX.com, which provides prestige membership services including online capital market information, pre-IPO education and matchmaking services between SMEs and financing institutions. ATIF has advised several enterprises in China in their plans to become publicly listed in the U.S. For more information, please visit https://ir.atifchina.com/.

Forward-Looking Statements

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantee of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: future financial and operating results, including revenues, income, expenditures, cash balances and other financial items; ability to manage growth and expansion; current and future economic and political conditions; ability to compete in an industry with low barriers to entry; ability to continue to operate through our VIE structure; ability to obtain additional financing in the future to fund capital expenditures; ability to attract new clients and further enhance brand recognition; ability to hire and retain qualified management personnel and key employees; trends and competition in the financial consulting services industry; a pandemic or epidemic; and other factors listed in the Company’s annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the anticipated results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made. These forward-looking statements are made as of the date of this news release.

PR Newswire

Hankyung.com’s introduces: ‘Trade On’ breaks down the COVID-19 wall against global trading in Seoul

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SEOUL, South Korea, Jan. 5, 2020 — As all fairs around the world has been shut down due to the pandemic of COVID-19, the small/medium companies of Korea have lost most of the chances to introduce their products and meet with the buyers. Unlike the larger companies with overseas branches and sales networks, small/medium companies are blocked by the ‘export wall’ built up by COVID-19.

Following announcement covered by Hankyung.com, Seoul and Seoul Business Agency (SBA), the small/medium business supporting agency affiliated to Seoul, are planning to open ‘Trade On,’ the online/offline integrated platform for exporters to relieve the hardships of small/medium exporters and lay a foundation for sustainable support for them. It opened temporarily in the beginning of December and about 100 companies have registered with the ‘Trade On’ platform so far.

‘Trade On (tradeon.kr)’ is a B2B platform that integrates the DB of small/medium companies in Korea and the potential buyers overseas to boost the companies’ active exports abroad. It is currently open for testing and its services and DB will continue to be updated.

When buyers log onto Trade On, they can visit the virtual booths of various companies as if attending a fair. They can check their major products, company profiles, and brochures and even chat with the representatives, start a video conference, or send inquiries. The small/medium businesses on Trade On can also take advantage of the video conference systems at SBA Global Marketing Center in Deungchon-dong, Seoul.

‘Trade On’ is an innovative platform that provides everything small/medium companies need when preparing for and promoting exports, including online booths, online business matching (meetings), advisory services, and export-related seminars. The offline infrastructure for video conferences and advisory services can be booked and scheduled by any small/medium business on the online platform. SBA is planning to continue supporting exports through the platform.

Other export platforms for small/medium businesses provide video conference systems for buyers overseas, whereas ‘Trade On’ allows the local businesses to request video conferences with buyers overseas. They can approach the registered buyers themselves rather than simply waiting for the buyers to visit their websites. Also, their new products registered on the platform are automatically exposed to the interested buyers based on the interested areas selected by buyers and small/medium businesses upon signup. Not only that, buyers are invited to join the platform based on the HS Code and actual importation records of each item provided by 20 customs offices around the world for the local credit rating companies and the same data can also be used to identify the buyers for the local companies to sort out invalid inquiries. The two-way interaction between buyers and exporters is expected to activate inquiries and generate profit.

The products registered with ‘Trade On’ are largely classified into five categories: IT/Electronics,  Medical/Bio, foods, beauty, and Lifestyle. The categories have been expanded beyond the everyday commodities for more small/medium exporters to join.

Participating companies include ‘Clair,’ an everyday appliance brand, ‘ABKO,’ the No. 1 gaming gear provider in Korea, ‘SN Fashion Group’ of Sonyunara for the Millennial generation, ‘Kotsam,’ a traditional tea exporter with No. 1 market share for honey Yuzu tea in the world, and ‘GOSHEN Korea’ that launched a beauty brand ‘Quret’ to win the 20 Million Export Tower on the Trade Day last year.

"Many small/medium businesses are having difficulties with exports due to recent re-spread of COVID-19," said Kim Yong-sang, the head of SBA Marketing Headquarters. "The new ‘Trade On’ is expected to introduce the competitive products of local small/medium exporters and explore the export channels in the ‘non-contact’ manner for the post-COVID-19 era."

PR Newswire

BC Technology Group Enters Into Agreement to Raise HKD697 Million in Share Placement, with Morgan Stanley Appointed as Sole Placing Agent

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HONG KONG, Jan. 6, 2021 — BC Technology Group (stock code: 863 HK), Asia’s leading public technology and digital asset company, is pleased to announce that it has entered into an agreement to raise HKD697 million (approximately USD90 million) in a top-up share placement, with Morgan Stanley appointed as the sole placing agent, and participation from a strong roster of institutional investors.

With completion of the placement, the Group will continue to expand the reach and capability of its leading institutional digital asset platform OSL, which provides prime brokerage, custody, exchange and software-as-a-service (SaaS) to institutions and professional investors. The transaction further affirms the Group’s institutional-focused strategy, positioning it to lead the digital asset trading market globally.

"The digital asset market experienced a significant shift in 2020, with regulatory clarity and institutional investment driving market capitalization to new all-time highs," said OSL CEO Wayne Trench. "With the participation of established institutional investors in this placement, we are seeing more evidence that digital assets are attracting significant attention from major traditional finance brands and we believe this will continue to accelerate going forward. The market will continue to grow in the coming months and years and we are excited to be on the front line of the development of this industry."

BC Group’s OSL Digital Securities was the first to apply for and be granted a license for Type 1 (dealing in securities) and 7 (providing automated trading services) regulated activities specific to digital assets under the Hong Kong Securities and Futures Commission’s (SFC) regulatory regime, and boasts a large roster of institutional clients. In December 2020, the Group also announced that it is providing technology services to DBS Bank.

"The placement is a major milestone and the next step in the rapid growth of the Group’s OSL digital asset platform," continued Trench. "It allows us to invest in the tools to reach more institutional customers around the globe while also continuing to scale our SaaS solution."

About BC Technology Group and the OSL Platform

BC Technology Group (stock code: HK 863) is Asia’s leading public fintech and digital asset company. It is the parent company of OSL, the region’s most comprehensive licensed digital asset platform.

OSL is the world’s first and only insured and SFC-licensed digital asset platform, providing prime brokerage, custody, exchange and SaaS services for institutional clients and professional investors.

The company offers OTC, iRFQ and electronic trading services giving traders access to the world’s deepest liquidity pools, as well as secure, insured wallets to ensure the safekeeping of digital assets with timely transaction settlement. 

BC Group and the OSL platform are enabling institutional adoption of the digital asset class, setting standards for performance, security and compliance.

For more information: bc.group and osl.com.

Related Links :

https://bc.group

PR Newswire

Sangoma Commended by Frost & Sullivan for Delivering Exceptional Customer Experience with its Wide Portfolio of UC Solutions

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SANTA CLARA, Calif., Jan. 5, 2021 — Based on its recent analysis of the North American Unified Communications and Collaboration (UCC) market, Frost & Sullivan recognizes Sangoma Technologies Corporation with the 2020 North American Competitive Strategy Leadership Award. Sangoma’s unified communications (UC) portfolio includes the two most popular open-source private branch exchange (PBX) platforms. Sangoma both supports the open-source community and incorporates the shared innovation into its own solutions, including its SwitchVox hosted UC service. 

Sangoma
Sangoma

"Sangoma ranks as one of the few remaining competitors in the UC market that delivers a complete portfolio of on-premise, hybrid, and cloud-based solutions. Both businesses and service providers appreciate Sangoma as a one-stop-shop partner that meets their diverse communications requirements," said Michael Brandenburg Senior Industry Analyst, Connected Work. "Sangoma can serve as the trusted partner for service providers, making available any mix of its products and services to network providers looking to offer Unified-Communications-as-a-Service (UCaaS), SIP trunking, and other communications services."

In 2020, Sangoma reported that over 50 percent of its customers were using cloud-based services across its portfolio. Flexibility, in terms of both technology and license pricing and usage, has enabled the company to deliver solutions that work best for its customers. The depth and breadth of its portfolio make it possible for the company to scale from the smallest do-it-yourself customer to larger provider deployments.

Beyond its own UC solutions and communications services, Sangoma’s product portfolio of hardware and software assets, including gateways, session border controllers (SBCs), and endpoints, supports industry standard protocols and interoperability with other platforms, meaning that customers on other UC platforms can still take advantage of the rest of the Sangoma’s standards-based product line. Its strategy of pulling together the right assets to offer a complete set of solutions positions it ideally to disrupt the status quo across any number of markets.

"Sangoma is finding success in the challenging UC market through strategic acquisitions, well-executed innovation, and unwavering focus on enabling technology for a broad range of business customers and service providers," noted Brandenburg. "Supported by an end-to-end product communications portfolio, Sangoma has positioned itself to deliver business communications in alignment with highly-specific customer needs."

Each year, Frost & Sullivan presents this award to the company that has leveraged competitive intelligence to successfully execute a strategy that results in stronger market share, competitive brand positioning, and customer satisfaction.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

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

Contact:

Lindsey Whitaker
P: +1 (210) 477-8457
E: lindsey.whitaker@frost.com

About Sangoma Technologies Corporation

Sangoma Technologies is a trusted leader in delivering value-based Communications as a Service (CaaS) solutions for businesses of all sizes. Sangoma’s cloud-based Services include Unified Communication (UCaaS) business communications, Meetings as a Service (MaaS), Communications Platform as a Service (CPaaS), Trunking  as a Service (TaaS), Fax as a Service (FaaS), Device as a Service (DaaS), and Access Control as a Service (ACaaS).  In addition, Sangoma offers a full line of communications products, including premise-based UC systems, a full line of deskphones and headsets, and a complete connectivity suite (gateways / SBCs / telephony cards). Sangoma’s products and services are used in leading UC, PBX, IVR, contact center, carrier networks, office productivity, and data communication applications worldwide. Sangoma is also the primary developer and sponsor of Asterisk and FreePBX, the world’s two most widely used open source communication software projects. 

Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSX VENTURE: STC). Additional information on Sangoma can be found at: www.sangoma.com. 

Related Links :

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PR Newswire

AsiaPay partners with Zip for buy-now-pay-later payment

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SYDNEY, Jan. 5, 2021 — AsiaPay, the leading digital payment service and technology player in Asia, is pleased to offer merchants in Australia the ability to accept digital mobile wallet payment via Zip, with a simple, secure, and private way to pay that’s fast and convenient.

Zip is a leading player in the digital retail finance and payments industry, offering point-of-sales credit and digital payment solutions. Zip is focused on offering transparent, responsible and fairly priced solutions to consumer’s and SME’s.

This relationship allows AsiaPay to provide a holistic integrated digital payment processing service for eCommerce and digital merchants across Australia. Zip users will experience increased acceptance at these merchants in the local markets, providing consumers with a "buy now and pay later" installment service for their ePurchases by offering Zip as an alternative payment option.

"This strategic agreement will bring more flexible payment methods and excellent consumer experience to customers," said Joseph Chan, CEO of AsiaPay. "In this new era of digital globalization, digital innovation and disruption change the way we live and do business. There is continued merchant demand for a complete integrated payment acceptance solution across prevailing payment methods to optimize sales conversion and better serve the customers globally especially in digital channel payments. We are honored to work with Zip to provide its users with greater payment convenience and acceptance at digital merchants of AsiaPay throughout Asia.”

About AsiaPay

Founded in 2000, AsiaPay, a premier electronic payment service, and technology player strive to bring advanced, secure, integrated, and cost-effective electronic payment processing solutions and services to banks, corporate and e-Businesses in the worldwide market, covering an array of international credit card, debit card, prepaid card, netbanking, eWallet, and QR, as well as cash collection.

AsiaPay is an accredited payment processor and payment gateway solution vendor for banks certified ISO and PF for serving merchants, certified international 3-D Secure vendors for Visa, MasterCard, American Express, and JCB. AsiaPay offers its variety of award-winning payment solutions that are multi-currency, multi-lingual, multi-card, and multi-channel, together with its advanced fraud detection, payment analytic, and management solutions.

Headquartered in Hong Kong, AsiaPay offers its professional ePayment solution consultancy and quality local service support across its other 15 offices in Asia including Australia, New Zeland, Thailand, Philippines, Singapore, Malaysia, Mainland China, Taiwan, Vietnam, Indonesia and India. For more information, please visit www.asiapay.com.au and www.paydollar.com.au

About Zip

Zip is a safe, simple and interest-free account, offering you the ability to buy now and pay later, on your terms. Zip is ASX listed under Zip Co Limited (ASX: Z1P), with head office operations based in Sydney, Australia. Our mission is to make finance fairer for everyone. For more information, please visit https://zip.co/

Related Links :

http://www.asiapay.com.au

PR Newswire

CLPS Incorporation Announces Chairman’s Letter to the Company’s Shareholders

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HONG KONG, Jan. 4, 2021 — CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today released a letter to shareholders from the Chairman of the Company’s Board of Directors (the "Board"), the full text of which is provided below. All CLPS shareholders are encouraged to read it.

Dear Shareholders,

On behalf of the Board, I wish you a happy and safe new year!

In 2020, CLPS celebrated its 15th anniversary since its establishment. It was also a challenging year that forced most people to adopt to new realities. Despite this unprecedented year, we remained on track with our growth strategy such as global business expansion, continuous talent supply development, successful mergers and acquisitions, and technological innovation progress which further improved our operational efficiency.

Let us look back at the highlights of the Company’s performance in 2020.

1. Client Base and Revenue Growth

Despite macroeconomic effects during this period, CLPS has maintained double-digit annual revenue growth and its net income attributable to CLPS Incorporation’s shareholders has turned profitable. In fiscal 2020 financial results, the revenue increased by 37.7% to $89.4 million in the same period of the previous year. The revenues by geography were also improved. The year-over-year revenues generated from Singapore, Hong Kong, and Mainland China have increased by 191.8%, 56.6%, and 30.5%, respectively.

The gross profit increased by 31.0% to $31.1 million, and net income attributable to CLPS Incorporation’s shareholders was $2.9 million, or $0.20 basic and diluted earnings per share, compared to net loss attributable to CLPS Incorporation’s shareholders of $3.3 million, or $0.24 basic and diluted losses per share in the prior year period. Non-GAAP net income attributable to CLPS Incorporation’s shareholders increased by 85.3% to $6.9 million.

In 2020, CLPS gained more overseas and domestic clients and project-based contracts from the financial services and IT industries.

In IT consulting services, CLPS increased its client-base in international banks, credit card, trust, futures, payment system, internet services, e-commerce, smart logistics, intelligent vehicle, and semiconductor, among other industry. In November 2020, CLPS won the IT services provider bid for a well-known bank card processing services company in China.

In customized IT solution services, CLPS actively explored new business opportunities with its existing clients. It recently signed a deal with a leading Chinese state-owned automotive company for big data-enabled vehicle intelligent manufacturing system project.

2. Talent Supply

As CLPS’s edge among other competitors in the IT services market, we have been able to develop and maintain the talent supply chain in order to meet the demand of our clients.

CLPS has been cooperating with the Technological and Higher Education Institute of Hong Kong ("THEi") to boost its degree program in information technology. In addition, we established the Cooperative Education on Information Technology Program ("Coop Program") in partnership with Hong Kong Multimedia Design Association ("HKMMDA"), a non-profit organization in Hong Kong, in which more than 20% of the first batch of qualified trainees have been placed to local banks. 

Our achievements under the Talent Creation Program (TCP) and Talent Development Program (TDP) have been and will continue to be an important component in solving through the bottleneck of IT services market and talent supply shortage. Our talent programs are among the important drivers of the Company’s business growth in the international and domestic markets.

3. Research and Development Efforts

CLPS renamed its research center, the CLPS Research, to CLPS Innovation Lab. It has been dedicated to the research and application of innovative technologies, including distributed application systems, cloud computing, micro services, open API, robotic process automation (RPA), and big data, among other technologies. CLPS Innovation Lab focuses on continuous scientific and technological innovation to provide clients with more comprehensive and efficient IT services.

In the past year, we implemented RPA and big data into our internal human resources, financial, and operational management systems, which significantly improved the Company’s overall operation. In addition, CLPS’s recruitment center in the Mainland China launched in early 2020 is equipped with advanced technologies, such as cloud platforms, big data, and RPA to accelerate the talent acquisition process, thereby reducing operational cost.

CLPS’s RPA has supported its clients’ digital transformation, including the successful distribution into the application scenarios in the accounting, credit investigation, procurement, and logistics, among other processes for some large state-owned and pharmaceutical enterprises. As a result of RPA achievements, we have received positive feedback from our clients.

4. Streamlined Organizational Structure

CLPS has streamlined its corporate governance and organizational structure to better implement its global expansion strategy.

CLPS relocated its global corporate headquarters to Hong Kong, and set up Shanghai and Singapore as its regional headquarters in the Mainland China and Southeast Asia, respectively. We also set up our California subsidiary and expanded the fintech business development services opportunities in the Asia-Pacific and the US markets following the international business standards and services.

With more than ten years of experience in the credit card service industry, we set up a wholly-owned subsidiary, Qinson Credit Card Services Limited ("QCC"), to cater to the credit card service demands of the financial industry. In one-year period, QCC has attained its stature in the credit card industry, and it continuously develops more business opportunity. At present, its client base consists of well-known international and large banks, bank card associations, and international financial IT companies.

5. Mergers and Acquisitions

CLPS continued to advance its mergers and acquisitions efforts in Mainland China and globally. We recently acquired the remaining 20% ownership stake in Ridik Pte. Ltd. ("Ridik"). As a wholly owned subsidiary, Ridik will enable us to fully integrate our business in the Southeast Asia region and to further advance our business expansion in the global market.

In Mainland China, we invested in Shenzhen Huaqin Robotics and Guangdong Zhichuang Software Technology to diversify our service offerings in robotics, semiconductor, and other industries. Our investment initiatives will put us in a position to expand our business overseas and to better serve our clients going forward.

The COVID-19 outbreak has brought significant impact to the global economy. However, it accelerated the digitization and informatization of traditional industries. Post-pandemic, it is forecasted that majority of enterprises will pivot to technology platforms and will venture on digital transformation. In 2021, we expect growing demand for global financial IT services and solutions, as well as for IT talents in cutting-edge technology domain such as artificial intelligence (AI), blockchain, big data, and cloud applications.

Looking forward to 2021, we are dedicated to investing for resources based on our expertise in financial IT services and solutions in China and globally, advancing our competitive advantage, reaching global market business opportunity, and providing efficient IT services to our existing and potential clients. Our streamlined technological and management innovations will drive the Company to achieve higher quality development and bring long-term value to our shareholders. On behalf of the CLPS family, I extend my gratitude to our shareholders’ unwavering support and confidence in the Company. We hope all of you to stay healthy and safe during these challenging times.

With sincerity and determination,

Xiao Feng Yang
Chairman of the Board
CLPS Incorporation

 

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