Tag Archives: FIN

PR Newswire

Correction: WiMi Announces Acquisition of Fe-da Electronics Company Pte Ltd

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BEIJING, Nov. 5, 2020 — WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"), a leading augmented reality ("AR") service provider in China, announces that its wholly-owned subsidiary, VIYI Technology Inc. ("VIYI Technology"), has entered into an agreement for the acquisition of 100% equity interests of Singapore-based Fe-da Electronics Company Pte Ltd. ("Fe-da Electronics") to accelerate the development of the Company’s semiconductor chip business. According to the financial statements provided by Fe-da Electronics, the revenues of Fe-da Electronics amounted to US$45,892,564 and US$70,770,218 for 2018 and 2019, respectively, both of which have exceeded the total revenues of WiMi in their respective periods. Through integrating Fe-da Electronics, the Company seeks to further optimize its financial model so as to improve its business growth and market size, and create more value for its investors.

The main businesses of Fe-da Electronics are the customization of central processing units ("CPU") for computers and servers and the production of storage devices, including SSD and RAM storage devices. After integrating Fe-da Electronics into VIYI Technology, the Company plans to both retain and strengthen Fe-da Electronics’ current team, fostering meaningful synergies in its development of central processing algorithm services. The Company also plans to utilize Fe-da Electronics’ existing artificial intelligence ("AI") and cloud computing technologies to further unlock its potential in the development of cloud service solutions.

Through the Company’s integration of Fe-da Electronics’ semiconductor businesses, the Company will further strengthen its central processing algorithm services, launch an integrated hardware-software system for enterprise and industrial data centers, and help better facilitate the digital transformation process by providing the entire industry, especially small- and medium-sized enterprises, with integrated cloud computing products and services. Furthermore, the Company will also leverage Fe-da Electronics’ resources to further establish its presence in Mainland China, Hong Kong, Taiwan, Southeast Asia, and other areas.

Mr. Shuo Shi, Chief Executive Officer of WiMi, commented, "Our acquisition of Fe-da Electronics marks a very important milestone in our journey to achieve our long-term goal of becoming a global leader in CPU AI algorithms. In addition, our integration with Fe-da Electronics will create significant synergies in the areas of technology, product development, and market coverage, helping us to seize those market opportunities in the field of central processing algorithm services and develop more unique competitive advantages. Going forward, we plan to leverage these advantages to capture related market opportunities, move closer towards the fulfillment of our long-term goals in both AI algorithms and cloud computing services, and create more value for our shareholders over the long term."

About WIMI Hologram Cloud Inc.

WiMi Hologram Cloud, Inc.(NASDAQ: WIMI), whose commercial operations began in 2015, operates an integrated holographic AR application platform in China and has built a comprehensive and diversified holographic AR content library among all holographic AR solution providers in China. Its extensive portfolio includes 4,654 AR holographic contents. The company has also achieved a speed of image processing that is 80 percent faster than the industry average. While most peer companies may identify and capture 40 to 50 blocks of image data within a specific space unit, WiMi collects 500 to 550 data blocks.

Safe Harbor / Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release, as well as the Company’s strategic and operational plans, contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable laws. 

Contacts

WIMI Hologram Cloud Inc.
Email: pr@wimiar.com

ICR, LLC
Sharon Zhou
Tel: +1 (646) 975-9495
Email: wimi@icrinc.com

PR Newswire

Nium Names Frederick Crosby as New Chief Revenue Officer

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Crosby will take on global responsibility and oversight for the company’s B2B sales, marketing and communication efforts.

SINGAPORE, Nov. 5, 2020 — Nium, a financial technology infrastructure platform, today announced the appointment of Frederick Crosby as its new Chief Revenue Officer. This comes as the company looks to expand and develop its global financial infrastructure to enter new markets, expand across the globe, and establish banking relationships to seamlessly move money around the world.

Nium Names Frederick Crosby as New Chief Revenue Officer
Nium Names Frederick Crosby as New Chief Revenue Officer

 

Frederick comes with nearly two decades of experience in pioneering and driving growth in the digital cross-border C2C, B2B and B2C payment space with some of the biggest names in the industry. At PayPal, he led a company-wide effort that made PayPal the payment method of choice in cross-border e-commerce around the world. As the Digital CRO at Western Union, he transformed the company into a digital remittance giant and market leader in every country they served. In his last role, Frederick was the Chief Revenue and Marketing Officer at Veem, a B2B global payment service backed by Kleiner-Perkins and GV (formerly known as Google Ventures), where he established Sales, Marketing and Business Development teams that drove customer count from under a thousand to over 170K in just four years.

Frederick said, "Designing and implementing go-to-market growth strategies for start-ups and enterprise companies has been at the heart of my professional career, and I cannot wait to combine my passion for global payments and FinTech with this new role at Nium. As the world has accelerated online adoption in the face of COVID-19, any smart business knows it is time to think global in its payment strategy if they want to grow in the upcoming years. Working together with colleagues, partners, and customers around the world, Nium continues its mission to be the leader in simplifying the cross-border payments experience and offer the right solution for businesses."

Prajit Nanu, Co-founder and CEO of Nium said, "I am super excited to welcome Frederick in this new position. With his extensive experiences in high-growth planning and execution, he is perfectly suited to lead the charge to break new ground, and ensure that we remain the platform partner of choice for enterprises."

This appointment follows the company’s recent expansion into Middle East and Africa, as well as a slew of new senior hires recently including Dana Nino as global Senior Vice President for Growth, Customer Success, and Partnership. Frederick will be reporting directly to Prajit Nanu, CEO and Co-Founder of Nium.

About Nium

Nium is a global financial technology platform redefining the way consumers and businesses send, spend and receive funds across borders. The company is continuously innovating to provide the most relevant and agile solutions to meet the needs of consumers and businesses, having evolved from solely focusing on consumer remittance via InstaReM, to also providing fintech solutions for businesses. Nium is regulated in Australia, Canada, European Union, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, United Kingdom and the United States of America, and processes billions of dollars a year for banks and payments institutions, the next generation of e-commerce players, OTAs and retail users across the world. Nium’s investors include Visa, BRI Ventures, Vertex Ventures, Vertex Growth, Fullerton Financial Holdings, GSR Ventures, Rocket Internet, Global Founders Capital, SBI Japan, FMO (Netherlands Development Finance Company), MDI Ventures, Beacon Venture Capital and Atinum Investment.

For more information, visit: http://www.nium.com.

Media Contact:

Gillian Loo
+65 9863 8120
Gillian.loo@nium.com

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PR Newswire

Fuji Xerox Strengthens Synergies Within Fujifilm Group to Create Growth Globally

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Rebrands Asia Pacific Operations to Fujifilm from April 2021

TOKYO, Nov. 5, 2020 — Fuji Xerox announces that its Asia Pacific operations will change to the Fujifilm brand with the changing of Fuji Xerox Co., Ltd. corporate name to FUJIFILM Business Innovation Corp. on April 2021. This change is brought forth based on the company’s decision to end the Technology Agreement with Xerox Corporation on the agreement’s expiration date, March 31, 2021. The Technology Agreement provides for technology/brand licenses and sales territories applicable to each company.

Fuji Xerox and Xerox Corporation have a history of benefiting from the shared use of technologies each company independently developed. Fuji Xerox has thrived in the speed and level of product development and have been establishing its own technologies for many years. As such, Fuji Xerox is well positioned to continue developing and manufacturing its original products using its own, unique technologies after the expiration of the Technology Agreement with Xerox Corporation.

Fuji Xerox will also provide services and maintenances including managed print services to customers in full performance of current agreements with them, without regard to the expiration of the Technology Agreement with Xerox Corporation.

With affluent know-how accumulated to date and trust earned from customers, Fuji Xerox aims to foster innovation with the other companies in the Fujifilm Group by accelerating the market introduction of solutions and services that build on technologies related to the cloud, artificial intelligence, and the Internet of Things. Additionally, Fuji Xerox will work swiftly to strengthen its document and adjacent businesses as well as to expand into new business areas, and to bring about business innovations by supporting the use and sharing of knowledge that will enable office workers to further increase their productivity and efficiency.

Likewise, on April 1, 2021, the sales departments in Japan and all 31 domestic sales subsidiaries plus Fuji Xerox InterField will integrate as one to establish a new company, FUJIFILM Business Innovation Japan Corp.

The new corporate name represents Fuji Xerox’s commitment as part of the Fujifilm Group – which promotes "Value from Innovation" as its corporate slogan – to expand into a wide range of business areas going forward and to always continue delivering business innovations.

[List of major Asia Pacific affiliates]

Current company name

New company name after April 2021

Fuji Xerox Asia Pacific Pte Ltd

(Regional management of sales affiliates in Asia/Oceania countries and regions)

FUJIFILM Business Innovation Asia Pacific Pte. Ltd.

Fuji Xerox Asia Pacific Pte. Ltd. (Malaysia Operations)

(Sales and services of office equipment in Malaysia)

FUJIFILM Business Innovation Asia Pacific Pte. Ltd.  (Malaysia Operations)

Branch of Fuji Xerox Asia Pacific Pte Ltd (Cambodia)

(Sales and services of office equipment in Cambodia)

Branch of FUJIFILM Business Innovation Asia Pacific Pte. Ltd. (Cambodia)

Fuji Xerox Singapore Pte Ltd

(Sales and services of office equipment in Singapore)

FUJIFILM Business Innovation Singapore Pte. Ltd.

Fuji Xerox Australia Pty. Limited

(Sales and services of office equipment in Australia)

FUJIFILM Business Innovation Australia Pty Ltd.

Fuji Xerox New Zealand Limited

(Sales and services of office equipment in New Zealand)

FUJIFILM Business Innovation New Zealand Limited

Fuji Xerox (China) Limited

(Sales and services of office equipment in China)

FUJIFILM Business Innovation (China) Corp.

Fuji Xerox Taiwan Corporation

(Sales and services of office equipment in Taiwan)

FUJIFILM Business Innovation Taiwan Co., Ltd.

Fuji Xerox Korea Company Limited

(Sales and services of office equipment in Korea)

FUJIFILM Business Innovation Korea Co., Ltd

Fuji Xerox (Thailand) Co., Ltd.

(Sales and services of office equipment in Thailand)

FUJIFILM Business Innovation (Thailand) Co., Ltd.

Fuji Xerox Philippines Inc. 

(Sales and services of office equipment in the Philippines)

FUJIFILM Business Innovation Philippines Corp.

Note: Due to the registration processes of respective countries, the exact date as to when the new names will go in effect may vary per affiliate.

About Fuji Xerox

Founded in 1962, Fuji Xerox Co., Ltd. is a leading company in offering smarter ways to work with its document-related solutions and services, as well as with the world-class office multifunction devices, printers and production printers that we develop and manufacture for worldwide distribution.    

Fuji Xerox is a wholly owned subsidiary of FUJIFILM Holdings Corporation with direct sales force covering Japan and the Asia-Pacific region including China. As a U.S. 10 billion dollar enterprise, we employ approximately 40,000 people globally, with more than 80 domestic and overseas affiliates / sales subsidiaries. On April 1, 2021, Fuji Xerox will change its corporate name to FUJIFILM Business Innovation Corp.

Fuji Xerox Asia Pacific is the subsidiary of Fuji Xerox overseeing sales operations in the Asia-Pacific region. 

http://www.fujixerox.com

Xerox, Xerox and Design, as well as Fuji Xerox and Design are registered trademarks or trademarks of Xerox Corporation in Japan and/or other countries.

PR Newswire

Former Global Head of Trade Finance, Farooq Siddiqi, joins fintech platform #dltledgers as CEO

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SINGAPORE, Nov. 5, 2020 — Leading cross-border trade digitisation platform #dltledgers has hired veteran banker Farooq Siddiqi as its Co-CEO. Siddiqi, who has over 25 years of experience in transaction and corporate banking commenced his new role on 2nd November 2020. He will split responsibilities with the founder & CEO, Samir Neji. Based out of the company’s Singapore headquarters, the senior banking professional will focus on paving the path for the next phase of #dltledgers’ growth. His immediate plans include geographic expansion, deploying the company’s recently launched Trade Finance Registry, and leading the launch of SmartFIN, an SME financing programme. Future plans include introducing innovative transactional lending models for supplier financing and inventory financing, such that platform customers can immediately benefit from next-generation risk management models.

Farooq Siddiqi, Co-CEO of #dltledgers
Farooq Siddiqi, Co-CEO of #dltledgers

During the course of his career Siddiqi has held numerous senior leadership roles. In his most recent role as CEO, Asia Pacific at Falcon Group, he was responsible for formulating regional strategy and contributing to global business delivery. Prior to Falcon Group, Siddiqi had almost two decades of experience at Standard Chartered Bank, which he joined in 2000. At Standard Chartered Bank he ran trade finance globally, having worked his way up through various regional and global roles within trade and cash management.

Speaking on his appointment, Siddiqi says: "COVID-19 has impacted businesses dramatically, especially the small and medium sized companies. If these companies do not adopt more efficient, digitised solutions quickly, they are at real risk. Even large enterprises and banks suffer by sticking with traditional operating processes within trade finance. It is imperative for the industry to review newer models, especially those deploying blockchain technology, to bring about streamlined, transparent processes that benefit all stakeholders. I believe now is an opportune time to step up efforts to bring about these industry changes. Therefore, I am thrilled to be joining the team to help further this vision".

Over the past few months, #dltledgers has expanded rapidly. Several senior figures have been hired to help power its ongoing fintech innovation. Apart from trade finance and supply chain digitisation, the company has deployed a range of supplier finance and sustainability finance solutions. It recently made global headlines as the platform-provider for the Singapore government’s Trade Finance Registry pilot, which aims to tackle double financing fraud. The company’s focus on hiring senior trade finance professionals is no coincidence. While digitising trade execution processes is the current focus, the company’s longer-term objective is to leverage its data to create a more sophisticated framework for managing risk and liquidity within global trade finance.

"It’s always a delight to welcome banking leaders into the fintech sector. We are incomplete without their expertise" says Samir, CEO at #dltledgers. "We see huge expectation gaps between the seekers and financiers in the market, due to the volatility and risks involved in financing. Having an industry veteran like Farooq join our team in this critical post-COVID period will aid us immensely. We are striving to serve the growing aspirations of our customer, and to offer a better, safer, digital, experience for all stakeholders, while mitigating the trade finance gaps between lenders and buyers. Farooq is the perfect fit because he has global experience, is a strategic thinker, is customer-focused, and has the ability to execute. For him to join #dltledgers is as promising a signal as we could hope for. I am ecstatic to welcome him to the team".

Since its inception three years ago, #dltledgers has digitised over SGD 3 billion-worth of cross-border trades, powering trade flows spanning 28 countries on four continents. On the back of significant growth in 2019/20, including the opening of several global offices, the company is in the midst of its latest funding round, which will support further expansion in 2021.

About #dltledgers:   

#dltledgers is the leading, independent fintech platform for trade and supply chain digitisation and finance in blockchain. Based in Singapore, the platform facilitates inter-enterprise collaboration, connecting the "digital islands" across its value chain to create a trusted trade framework and supply chain ecosystem for its users, thus offering a risk model for lending. Network participants include buyers, sellers, trading companies, and finance providers, as well as carriers, logistics partners, insurers, ports, and a variety of certifying bodies and government agencies. The #dltledgers blockchain platform is a pioneer in enterprise blockchain, having executed $3 billion worth of live transactions, involving over 400 subscribed traders, 45 banks, and 4500+ ecosystem partners. 

PR Newswire

Itiviti’s Linda Middleditch wins European Women in Finance Award for Excellence in FinTech

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LONDON, Nov. 4, 2020 — Itiviti, a leading technology and service provider to financial institutions worldwide, today announced that Linda Middleditch, Chief of Product Strategy and Engineering, has won the Markets Choice Awards – European Women in Finance Awards in the category for Excellence in FinTech.

Linda joined Itiviti in June 2019 after spending more than two decades of her career within the financial services industry, where she held senior leadership positions at UBS, Citi and Morgan Stanley. She worked with every asset class across the entire trade lifecycle, and held roles in trading, operations, technology and product management. Her move to the vendor side enabled her to review and rethink the trading technology and the way of working with the financial institutions.

Linda’s focus on enhancing cognitive diversity within the product strategy and engineering teams has greatly enriched Itiviti’s approach to building the trading platform and the team members whose professional backgrounds are anchored in areas similar to those of our clients.

The modular design technology delivers flexible solutions to meet clients’ evolving needs. The collaborative approach with clients allows the firm to support and accompany customers to overcome their trading-related challenges and align with their future growth.

"Cognitive diversity can be transformative for FinTechs," says Linda. "At Itiviti, this is one important element in our overall approach to creating and enhancing our overall technology ecosystem. Other elements include our modular design approach, our strategic partnerships, and the way we engage with our clients."

Another essential element is Itiviti’s strategic partnerships, which bring additional expertise into our technology ecosystem. For example, in January 2020, Itiviti announced a new partnership with Imandra, a technology company focused on cloud-scale automated reasoning. Imandra’s technology is improving the onboarding process for Itiviti clients to Itiviti’s Managed FIX global connectivity platform.

"We congratulate Linda on this award and celebrate this success with her," says Rob Mackay, Chief Executive Officer of Itiviti. "Linda’s leadership is enabling Itiviti to engage in new and exciting ways of collaborating – in our teams, our technology, our strategic partner network, and with our customers – to drive innovation and transformation."

For further information, please contact:
Mireille Adebiyi, Chief Marketing Officer, Itiviti Group, Email: mireille.adebiyi@itiviti.com

About Itiviti

Itiviti provides nearly 2,000 financial institutions worldwide with flexible, cross-asset trading solutions that cover the full trade lifecycle. Through its commitment to technology innovation, relentless pursuit of workflow efficiency and an entrepreneurial culture, Itiviti is disrupting the industry with highly-scalable solutions that deliver unprecedented cost savings for clients.

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

Itiviti is owned by Nordic Capital.

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PR Newswire

Wealth Dynamix Completes Eighth Year of Growth and Continues Expansion Despite Global Pandemic Challenges

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LONDON, Nov. 4, 2020 — Wealth Dynamix, a global leader in Client Lifecycle Management (CLM) solutions, has announced year-end performance results that indicate strong growth during the twelve months to September 30, 2020. Wealth Dynamix has worked with new and existing wealth management clients to deliver the critical capabilities required to support remote working and business continuity. Most notably, clients are benefiting from a true 360-degree client view, actionable and intelligent automation and best practice workflows that eliminate manual tasks and boost productivity, and mobile-ready client and advisor-facing tools that increase usability and access.

Since October 2019, Wealth Dynamix has expanded European operations, opened a new office in Paris to further support private banks, wealth and investment management firms in France and Switzerland, and acquired a number of significant global clients including a major global bank headquartered in Singapore and large European private bank headquartered in France.

In the UK several of the leading wealth managers and private banks including Charles Stanley, Ruffer, Quilter and Rothschild & Co completed major projects to upgrade to the latest version of the Wealth Dynamix CLM solution.

Many Wealth Dynamix clients accelerated digitisation projects throughout the second half of the year, spurred by the requirement to manage client relationships seamlessly from any location, sustain high levels of client interaction via digital channels, increase the speed and agility of onboarding and ensure ongoing compliance. In doing so there has been increased demand to deploy and upgrade to the newest version of the firm’s WDX1 solution and to leverage cloud-based services more effectively.

WDX1 is the flagship, multi-award winning digital CLM solution from Wealth Dynamix, designed to support the complex requirements of wealth management companies from a single unified platform. Its capabilities span the entire client lifecycle, including client acquisition, client engagement, digital onboarding, regulatory compliance, relationship management, and ongoing client servicing.

Gary Linieres, CEO and Co-founder at Wealth Dynamix, said: "This has been a year of two halves in which firms focused initially on digitisation to optimise operational efficiency and improve cost-income ratios, then quickly switched focus to ensuring they could continue to serve staff and clients effectively whilst remote working. Technology has never played a more vital role in enabling business continuity and empowering advisors and the success of Wealth Dynamix through this trying period is testament to our many years of wealth management domain expertise and the flexibility of our solutions."

"Moving into 2021," Linieres continues, "wealth managers will need to provide all internal stakeholders with an integrated view of client journeys, so they can make proactive and intelligent recommendations that match client requirements. They will need to build agility into their technology platforms, so they can adapt to change quickly without interrupting service quality. And there will be a permanent shift in the way people do business, requiring fully effective and secure digital communications, while all the time meeting regulatory obligations."

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PR Newswire

Nel ASA: Selected by Iberdrola as preferred supplier for a 20 MW green fertilizer project in Spain

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OSLO, Norway, Nov. 4, 2020 — Nel Hydrogen Electrolyser, a division of Nel ASA (Nel, OSE:NEL), has been selected as preferred supplier by Iberdrola for a 20 MW PEM solution for a green fertilizer project in Spain. Contract award is subject to mutual agreement on the final commercial terms. The hydrogen plant is scheduled to commence operations in 2021.

"We are very excited and honored that Iberdrola prefer to use a PEM electrolyser solution from Nel for this landmark green fertilizer project. It is a true testament to our PEM platform, which has been deployed all over the world for several decades. We continuously work to develop larger systems, and with this project our PEM platform will be designed into a 20 MW solution. We have over the course of the last year been working on both alkaline and PEM large-scale solutions, which serve different customer needs, and we look forward to provide our PEM solution for this project," says Filip Smeets, SVP Nel Hydrogen Electrolyser, Nel Hydrogen Fueling.

Iberdrola, one of the largest electricity utilities in the world, has together with a world-leading fertilizer manufacturer Fertiberia launched a project to establish the largest green hydrogen plant in Europe. Located in Puertollano, Spain it will feature a 100 MW photovoltaic plant, a battery installation with a storage capacity of 20 MWh, and a 20 MW electrolyser. The hydrogen produced in the project will primarily be used for green fertilizer production. The 20 MW electrolyser is scheduled to commence operations in 2021.

Contract award is subject to mutual agreement on the final agreement on terms and conditions, technical details, and board approval.

For further information, please contact:

Jon André Løkke, CEO, +47 907 44 949

Kjell Christian Bjørnsen, CFO, +47 917 02 097

About Nel ASA | www.nelhydrogen.com

Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store, and distribute hydrogen from renewable energy. We serve industries, energy, and gas companies with leading hydrogen technology. Our roots date back to 1927, and since then, we have had a proud history of development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles – without the emissions.

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The9 Limited Regains Compliance with Nasdaq Listing Requirement

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SHANGHAI, Nov. 3, 2020 — The9 Limited ("The9") (Nasdaq: NCTY), an established Internet company, today announced that it received a notification letter from the Nasdaq Stock Market LLC ("Nasdaq") on November 2, 2020 stating that The9 has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) and the matter is now closed.

About The9 Limited

The9 Limited (The9) is an Internet company based in China listed on Nasdaq in 2004. The9 aims to become a diversified Internet company.

Website: https://www.the9.com/en

 

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UP Fintech Asset Management Announces Closure of UP Fintech China-U.S. Internet Titans ETF

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NEWTOWN SQUARE, Pa., Nov. 3, 2020 — The Board of Trustees of the TIGERSHARES Trust has decided to liquidate and close the UP Fintech China-U.S. Internet Titans ETF (TTTN) (the "Fund"), based on the recommendation of the Fund’s adviser, Wealthn LLC (d/b/a UP Fintech Asset Management ("Wealthn")), and Wealthn’s parent company, UP Fintech Holding Limited. This recommendation is based on a determination that, in light of an ongoing review of market demand, the Fund’s continued operation is not in the best interests of the Fund’s shareholders.

The Fund will cease trading on the Nasdaq Stock Market LLC ("Nasdaq") and will be closed to purchase by investors as of the close of regular trading on the NYSE on November 18, 2020 (the "Closing Date"). The Fund will not accept purchase orders after the Closing Date.

Shareholders may sell their holdings in the Fund prior to the Closing Date subject to customary brokerage charges. However, from November 18, 2020 through November 25, 2020 (the "Liquidation Date") shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for the Fund’s shares during this time period. Between the Closing Date and the Liquidation Date, the Fund will be in the process of closing down and liquidating its portfolio. This process will result in the Fund increasing its cash holdings and, as a consequence, not pursuing its investment objective.

On or about the Liquidation Date, the Fund will liquidate its assets and distribute cash pro rata to all shareholders who have not previously redeemed or sold their shares. These distributions are taxable events. In addition, these payments to shareholders may include accrued capital gains and dividends. As calculated on the Liquidation Date, the Fund’s net asset value will reflect certain costs of closing the Fund, such as brokerage commissions paid by the Fund to liquidate portfolio positions. Wealthn will otherwise pay all expenses associated with the Fund’s liquidation. Once the distributions are complete, the Fund will terminate.

About UP Fintech Asset Management:

UP Fintech Asset Management is the asset management arm of UP Fintech Holding Limited (NASDAQ: TIGR) known as "Tiger Brokers" in Asia, and the investment adviser to the UP Fintech China-U.S. Internet Titans ETF. Tiger Brokers is an online brokerage and fintech firm whose mobile-driven trading platforms enable investors to trade in equities and other financial instruments on major exchanges around the world.

IMPORTANT DISCLOSURES

Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives.

The value of the Fund’s investments in Chinese securities will be impacted by the economic, political, diplomatic, and social conditions within China and to be more volatile than the performance of more geographically diversified funds. China is generally considered an emerging market country and investments in Chinese securities carry the risks associated with emerging markets, as well as risks particular to the region. Investments in emerging markets may be subject to the risk of abrupt and severe price declines and their financial markets often lack liquidity. Returns on investments in foreign securities could be more volatile than, or trail the returns on, investments in U.S. securities. Certain securities held by the Fund may be difficult (or impossible) to buy or sell at the time and at the price the Fund would like due to a variety of factors, including general market conditions, the perceived financial strength of the issuer, specific restrictions on resale of the securities, infrequent trading, or lack of market participants. ETF shares are not redeemable with the issuing fund other than in large Creation Unit aggregations. Instead, investors must buy or sell ETF Shares in the secondary market with the assistance of a stockbroker. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling. The NAV of the Fund’s shares is calculated each day the national securities exchanges are open for trading as of the close of regular trading on the New York Stock Exchange ("NYSE"), normally 4:00 p.m. Eastern time (the "NAV Calculation Time"). Shares are bought and sold at market price (closing price) not NAV. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined).

For more information on the Fund, please visit www.upfintecham.com or call 1-800-614-0004. The Fund is distributed by Quasar Distributors, LLC. 

A fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company. A copy of the Fund’s summary prospectus may be obtained at www.upfintecham.com or call 1-800-614-0004 and should be read carefully before investing. 

CONTACT: Yang Xu
info@upfinteckam.com

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PR Newswire

Yeahka’s Consumer Cloud Platform Listed as Registered Blockchain Information Service Provider by CAC to Explore Blockchain Application for Coupons

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SHENZHEN, China, Oct. 31, 2020 — YEAHKA LIMITED ("Yeahka" or the "Company", stock code: 9923.HK), a leading technology platform in China, announced that its proprietary consumer cloud and blockchain-powered coupon platform (the "Consumer Cloud Platform") has been included in the fourth set of blockchain information service providers released on 30th by the Cyberspace Administration of China (CAC).

Yeahka’s Consumer Cloud Platform aims to provide merchants with solutions for store management and traffic-driving customer acquisition. So far, the platform has served almost 20,000 merchants to date, of which the majority issue coupons with the main product "YueHuiQuan" on consumer cloud platform and develop their own private traffic are restaurants, and snack and beverage vendors.

In terms of specific applications, any coupon transaction that takes place on the Consumer Cloud Platform can be traced, which allows coupons to be securely and reliably traded and regifted. Leveraging the data immutability of blockchain, the Consumer Cloud Platform creates a trusted and standalone network that operates independently of any third parties. It also makes it easier for the government to track the creditworthiness of merchants, manage commercial services, and protect consumer rights.

On January 10, 2019, the CAC published the Administrative Provisions on Blockchain Information Services, which became effective on February 15, 2019. As of today, the Internet regulator has released four sets of domestic blockchain service providers, involving a total of 1015 companies and projects. The compliance document of service providers aims to provide an effective legal basis for the provision, use, and management of blockchain information services.

Companies named so far have included major Chinese Internet giants, such as Tencent (00700.HK), Alibaba (9988.HK), Baidu (BIDU.US) and JD.com (JD.US), which indicates that blockchain technology will be applied to a wide range of situations and sectors.

Through the Consumer Cloud Platform, Yeahka will further explore its potential of applying blockchain technology to specific applications involving coupons. While optimizing the experience for both merchants and consumers, the Company will enhance its data analysis capabilities around private traffic and operations of coupons to optimize marketing efforts and boost the business growth for merchants.

About YEAHKA LIMITED (9923.HK)
YEAHKA LIMITED ("Yeahka" or the "Company") is a leading payment-based technology platform in China providing payment and technology-enabled business services to merchants and consumers. According to Oliver Wyman, we are the second largest non-bank independent QR code payment service provider in China, with approximately 14.0% market share in terms of transaction count in 2019. The Company’s value proposition is a cohesive ecosystem that enables seamless, convenient and reliable payment transactions between merchants and consumers, and leveraging its vast customer base and data assets accumulated from payment services, to further offer a rich variety of technology-enabled business services, including (i) merchant SaaS products, which help customers improve their operational efficiency, (ii) marketing services, allowing customers to effectively reach their target markets, and (iii) fintech services, which cater to customers’ financial needs.