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PR Newswire

Infosys Launches ‘Return to Workplace’ Solutions to Help Enterprises Build Safe, Nurturing and Resilient Workplaces

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BENGALURU, India, June 11, 2020 /PRNewswire/ — Infosys (NYSE: INFY), the global leader in next-generation digital services and consulting, today announced the launch of its enterprise-grade ‘Return to Workplace’ solutions to help clients ensure safety and wellness of their employees as they adapt to new ways of working amid the COVID-19 pandemic.

The cloud and edge-based solutions offer a comprehensive framework that enables enterprises to implement:

  • Elevated Body Temperature (EBT) screening – Leverages automation and AI on Edge to help enterprises screen their workforce or visitors in real-time for possible infection to isolate them and prevent them from entering the establishment.
  • Contact Tracing – Redefining the contact tracing category using proven technologies like GPS and BLE (Bluetooth Low Energy) to provide completely voluntary and Opt-In basis for building traceability.
  • Mask Compliance / Social Distancing Compliance – Video analytics algorithms to provide alerts when masks are not detected, or the distance between people walking together or gathering at a place is not sufficient. Smart wearables can also be incorporated based on the specific situations.
  • COVID-19 Chatbot – An AI-powered Digital Assistant solution to help answer employee queries related to return to work scenarios
  • Contactless biometrics – Ensures employees and visitors enter workplaces in a safe manner
  • Occupancy and workspace analytics – To help real estate teams track metrics on floor occupancy, density and automate sanitation routines in common areas. Contactless elevator workflows, HVAC refresh cycles and many more solutions towards ongoing workplace wellbeing.

These solutions do not collect any Personally Identifiable Information (PII) and use the power of AI, IOTVision Analytics, Edge Computing, 5G, RFID, Biometrics and Gesture controls to reduce the need for human intervention and enable data-driven decision making. The underlying platform ensures ease of maintenance and compliance reporting as required in various geographies.

Nitesh Bansal, SVP and Head- Engineering Services, Infosys, said, “The future of work will demand innovative solutions that enterprises can deploy rapidly, and at scale to ensure safety of their workforce while at the same time nurture collaboration and productivity. We are pleased to launch our ‘Return to Workplace’ offering that is aimed at positively impacting the re-opening of workspaces in a seamless, automated, and systematic manner. We are implementing some of these solutions, starting with EBT checks, across five million sq. ft. of our own office spaces as we prepare for 20,000 Infosys employees to return to their workplaces in a phased manner. We are confident that these solutions will reassure enterprises and employees that their workplaces are safe, collaborative, yet non-intrusive.”

These solutions adhere to data privacy standards and practices with FDA, FCC, ISO, and IEC compliance.

Mukesh Dialani, Program Director of Product Engineering and Operations Technology/Services, IDC, said, “Infosys’ scalable and flexible ‘Return to Workplace’ solution is timely and well thought out. Adhering to data privacy standards and built on a foundation of digital engineering elements including computer vision, edge and AI, it will provide customers with processes and solutions to restart their operations in a safe and resilient manner.”

To know more on how ‘Return to Workplace’ solutions came about, and watch Nitesh Bansal tell the story, click here: https://www.infosys.com/newsroom/infytv/making-our-way-back-to-workplace.html

About Infosys Ltd.

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With nearly four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2019. These filings are available at www.sec.gov . Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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PR Newswire

Joongbu Univ. to strengthen its email security with SecuLetter

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SEOUL, South Korea, June 10, 2020 /PRNewswire/ — Joongbu University has strengthened its email security by adopting MARS SLE which is SecuLetter‘s Secure Emil Gateway(SEG) solution for intelligent email hacking attacks and successfully handled malicious code threats sent through email. SecuLetter has been a member of the Born2Global Centre since 2017.

Joongbu University
Joongbu University

SecuLetter is a security company that develops and supplies products that detect, diagnose, analyze, and prevent malicious code attacks launched via document files (MS Office, PDF etc.) and Advanced Persistent Threats (APT) in various business environments, such as Airgap and Network bridging areas, On-line bulletin boards, Document Centralization, and Content Disarm & Reconstruction (CDR). Its products eliminate security blind spots that have been a weakness of existing behavior-based (sandbox-based) APT solutions and enable accurate and swift diagnosis.

Joongbu University adopted SecuLetter’s solution for multiple reasons, primarily to: detect and analyze advanced malicious code attacks coming through e-mail, prevent malicious URLs contained in the body of emails, block unknown attacks, provide detailed reports on detected malicious code, and ensure easy installation and management.

Mr. Yeom, Jong-gook, Manager of the Joongbu University Computer Information Institute said, “In May of last year, we experienced difficulties in detecting and diagnosing large amounts of hacking emails disguised as Non-PE file attachments (MS Office or PDF), such as quotations and tax invoices. We were looking for a solution that could respond to these malicious attacks and we found out that MARS SLE is the best solution through comparative reviews and POC with several products.

Prior to adopting it, a large number of emails containing URLs leading to malicious code and phishing websites were not detected, but with MARS SLE, we could detect, diagnose, and effectively block such attacks.”

Mr. Lim, Chasung, CEO of SecuLetter said, “About 90 percent or more of APT attacks are made via email and most of them are disguised as email attachments. In addition, these emails have no choice but to open attachments because they are disguising as emails from government agencies, tax invoices, quotations, resumes and recent COVID19 virus-related emails. “Through the use case of Joongbu University, we’re convinced that the university also needs to respond to these advanced email attacks. We believe our solution can be an alternative for all government agencies, financial institutions, businesses and schools that want to protect their systems and assets from hacking email attacks. And we are also actively considering fostering competent security talented students through industry-academic cooperation with schools interested in cyber security research.”

SecuLetter’s products, MARS SLE and MARS SLF are being actively used by major national institutions, financial institutions, and companies including KEPCO E&C, Korea Post Information Center, KISA (Korea Internet & Security Agency), BNK Busan Bank, KAMCO (Korea Asset Management Corporation), KSD (Korea Securities Depository), and KTCU (Korean Teachers’ Credit Union).

For more detailed information on SecuLetter, visit https://www.seculetter.com/content/en/.

Media Contact

SecuLetter: contact@seculetter.com 
Born2Global Centre: jlee@born2global.com 

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PR Newswire

ColorTokens Boosts ANZ Presence, Appoints Elvis Jusic as Regional Director Sales

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SANTA CLARA, Calif., June 10, 2020 /PRNewswire/ — ColorTokens Inc. a leading innovator in cyber security, today announced the appointment of Elvis Jusic to Regional Director of Sales for Australia and New Zealand (ANZ). Elvis brings a 20+ year history of success in the enterprise security industry, a customer-centric approach, and a focus on delivering differentiated value to protect customer data and assets.

Elvis Jusic joins the company with extensive sales and business development experience evidenced by his stellar successes at Oracle, Aruba Networks and Palo Alto Networks, where he served customers large and small through traditional and emerging channels. Throughout his long history of enterprise sales and as a passionate customer advocate, disruption has remained a consistent theme for Elvis. In his most recent role as National GM with Content Security, an Australian MSSP, Elvis led national sales teams to deliver marked year-on-year growth and recognition. Elvis will be responsible for driving growth across ColorTokens’ markets in the ANZ region.

“ColorTokens’ award-winning approach is giving enterprises the ability to visualize and secure 100 percent of their traffic, stretching well beyond the 20 percent of perimeter traffic most organizations are limited to,” said Elvis Jusic, Regional Director of Sales for ANZ, at ColorTokens. “By leveraging the power of full visibility across locations, zero-disruption micro-segmentation and proactive endpoint protection through PCI DSS 4.0, ColorTokens is transforming the way enterprises can achieve a zero trust architecture – all while removing the complexity of deployment, with time-to-value and simplicity intrinsically woven into the ColorTokens Spectrum Platform. I’m excited to bring the benefits of ColorTokens disruptions to more ANZ enterprises.”

Dr. Nitin Mehta, Founder and CEO of ColorTokens said: “ANZ has been an area of substantial growth and enormous potential for ColorTokens. We look forward to harnessing Elvis Jusic’s expertise and customer obsession to manage and support the continued growth and the demand for our solutions across the ANZ region.”

About ColorTokens

ColorTokens Inc., a leader in cloud-delivered zero-trust security, empowers global enterprises with a proactive approach to securing cloud workloads, dynamic applications, endpoints, and users. Through its award-winning Spectrum Platform, ColorTokens delivers products and services that help businesses accurately assess and drastically improve their security posture. For more information, please visit www.colortokens.com.

Media Contact:
 Corinne Breuil                                                  
ColorTokens    
+1-4083416030                                                                                  
Press@colortokens.com 

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Source: ColorTokens Inc.

PR Newswire

Numonix Among First to Release a Fully Managed Cloud Compliance Recording Service for Microsoft Teams

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BOCA RATON, Fla., June 9, 2020 /PRNewswire/ — Numonix, a developer of a versatile interaction recording solution for Unified Communication platforms, today announced the launch of IXCloud for Microsoft Teams, one of the first Microsoft Azure-based, fully managed cloud compliance recording services. Uniquely activated as a fully managed service, IXCloud records, stores and analyzes interactions without requiring physical or virtual servers, thereby enabling instant and elastic scalability to support business growth.

“We are excited to be one of the first providers in the world to offer a fully managed compliance recording solution for Microsoft Teams. Our IXCloud for Microsoft Teams solution empowers enterprises, small- to medium-sized businesses, system integrators, hosted providers and carriers to record all types of calling, meeting and chat scenarios for Teams,” said Avi Margolin, CEO and CTO of Numonix. “In addition, through our Azure-based IXCloud, we are providing a differentiated, fully managed compliance recording service.”

“Whether working on-site or remotely, companies in regulated industries are required to automatically record all communications by regulated employees. With IXCloud for Microsoft Teams, Numonix allows companies to do that, whether those interactions occur within or outside of Teams, while also being able to archive and analyze them,” said Mike Ammerlaan, Director of Microsoft 365 Ecosystem marketing at Microsoft Corp. 

IXCloud for Microsoft Teams features many benefits, including:

  • Fully managed, native Azure Software-as-a-Service
  • Ability to natively record audio, video and screensharing
  • Participation in the Microsoft Teams Compliance Recording certification program
  • Zero hardware or software footprint
  • No server management or maintenance required within your organization
  • GDPR, MiFID II, HIPAA compliance with built-in recording notifications and 256bit encryption
  • Securely stored data in your choice of more than 15 Azure datacenter regions, helping compliance with data sovereignty requirements
  • Ability to instantly scale to support business growth

For detailed information on IXCloud for Microsoft Teams, please visit https://www.numonix.cloud.

About IXCloud for Teams

IXCloud for Microsoft Teams is a new-generation, cloud-based interaction recording solution developed by Numonix, the innovator in capture technologies. Built on the runtime service fabric of Azure, IXCloud empowers users to record with integrity, providing instant hyper-scale, security and compliance plus the benefits of Data Sovereignty. Taking interaction capture into the future, IXCloud redefines versatility, providing the ability to record, store and analyze interactions in the cloud. Its API framework also enables application development.

About Numonix

Numonix offers the industry’s most versatile cloud and premise-based interaction recording solutions for Microsoft® Teams, Skype® for Business, SIPREC, and most unified communications and PBX systems, giving business users and service provides versatility in how they record, centrally store and access to their interactions. With full omnichannel recording of voice, video, chat, screen and screen sharing, Numonix empowers organizations to improve regulatory compliance, resolve disputes and enhance the customer experience by granting safeguarded access to their recordings and agent/customer data. Numonix RECITE® interaction recording solution gives users an on-premise solution with extensive customization options, while Numonix IXCloud delivers the ultimate cloud-based communication capture platform built on the runtime service fabric of Azure and requiring no physical or virtual servers. Numonix is based in Boca Raton, Fla. Visit www.NumonixRecording.com

Numonix PR Contact:
Teri Sawyer, T&Co. PR
+1-714-801-1687
Numonix Press 

Numonix Sales Contact:
+1-855-Numonix
+1-561-952-2600
Numonix Sales

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PR Newswire

Microland’s IIoT Prowess Gains PTC’s Global System Integrator Status

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BENGALURU, India and LONDON and ATLANTA, June 9, 2020 /PRNewswire/ — Microland today announced its inclusion in PTC Inc’s elite list of Global System Integrators and Management Consultants, an ecosystem of digital transformation experts and industrial innovation thought leaders. This recognition is a validation of Microland’s resolute focus on cross-industry digital transformation.

“Microland’s strategic relationship with PTC has enabled us to accelerate the Industry 4.0 digital transformation journey of our clients. Leveraging PTC’s ThingWorx® platform, we have built smart, connected, and integrated Industrial IoT solutions for several of our clients. Our IT-OT integration expertise, along with PTC’s industrial automation suite, power our Industrial IoT solutions to drive higher efficiencies, increase productivity, enhance experiences and reduce operational risks,” says Manjanath Nayak, Senior Vice President – Head of Global Industrial IoT Business, Microland.

Microland’s IIoT business has enabled several enterprises to pursue an accelerated path to realise industrial process transformation. Microland’s offerings under the IIoT service line include: 3-Step Accelerator (PoC led solutions), Integrated Smart Factory, Industrial Monitoring, Connected Enterprises and Managed Services.   

Microland has been working with PTC since 2017. Over the last three years the PTC-Microland collaboration has seen significant momentum with several jointly developed solutions deployed across multiple customer engagements. 

“Microland has demonstrated innovative thinking in solution development around our platform and have been proven in the most challenging of client engagements,” says Rajkiran Chakkalongara, Senior Director & Head, IOT/AR Business, PTC, India.

Microland’s industrial and software engineers, working alongside solution consultants, deliver ambitious IIoT system thinking and innovation, using analytics and artificial intelligence to drive predictable operations and unlock new opportunities. The focus is to enable enterprises to solve complex industrial challenges through IIoT system thinking and rapid prototyping to achieve a steady stream of quick wins with minimum investment.

Ravi Asrani, SVP, Global System Integrators & Management Consulting, PTC added, “PTC values Microland’s system integration capability across industry sectors and its ability to deliver high-value business outcomes. Together, we can address the transformation promises that IIoT presents for the world.”

The success of this partnership spans multiple geographies and industry verticals — one example being a successful implementation of smart manufacturing for TRL Krosaki Refractories, one of the largest refractory manufacturers in India.

Kumar Heramba Narayan Naik, CIO, TRL Krosaki, said, “We have embarked upon a program of modernising our manufacturing facilities leveraging Industrial IoT solutions with a primary objective of improving refractory brick quality.

Microland has been instrumental in the success of this modernization program. With an outcome driven approach, Microland helped us develop the business case and demonstrated strong system integration expertise across IT, OT and Analytics. They led the program of implementing PTC ThingWorx® resulting in real time operational visibility, digital workflows and asset performance tracking resulting in quicker decision making, reduced breakdowns and efficient workforce.”

About Microland

Microland’s delivery of digital and “Making Digital Happen” allows technology to do more and intrude less. We make it easier for enterprises to adopt nextGen Digital infrastructure. We enable this using our expertise in Cloud and Data Centers, Networks, Digital Workplace, Cybersecurity and Industrial IoT–ensuring the embrace of brilliance is predictable, reliable, and stable.

In the COVID impacted world, Microland is making digital happen for enterprises with a laser focus on services that are more relevant to our clients and prospects than ever before:

  • Modern Workplace Services: Enabling working-from-home via VDI, desktop-as-a-service, unified end point management and collaboration tools roll-out & adoption
  • Network Services: Supporting the “new normal” of working by designing, deploying and scaling network infrastructure including Software defined LAN & WAN rollouts
  • Cloud Services: Accelerating the digital transformation journey by enabling hybrid cloud deployment to support critical workloads and ensuring business continuity
  • Smart Security Operations Center: 24x 7 Operations center monitoring of all points along a digital journey ensuring that clients are covered in their pursuit to support a world in transition
  • Industrial Safety Services: Establishing robust connectivity channels with remote production assets and environmental parameters to improve safety of operations and reduce risks and exposure

Incorporated in 1989 and headquartered in Bengaluru, India, Microland has more than 4,500 digital specialists across offices and delivery centers in Asia, Australia, Europe, Middle East and North America.

Read more here: https://www.microland.com/

ThingWorx is a registered trademark of PTC Inc. in the United States and other countries.

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PR Newswire

NetEase Announces Pricing of Global Offering

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HANGZHOU, China, June 7, 2020 /PRNewswire/ — NetEase, Inc. (NASDAQ: NTES) (“NetEase” or “the Company”) today announced the pricing of the Global Offering of 171,480,000 new ordinary shares (the “Offer Shares” or “Shares”) which comprises an International Offering and a Hong Kong Public Offering. The final offer price for both the International Offering and the Hong Kong Public Offering (the “Offer Price”) has been set at HK$123 per Share. Based on the ratio of 25 ordinary shares per Nasdaq-listed American depositary share (“ADS”), the Offer Price translates to approximately US$397 per ADS. The Company has set the abovementioned offer price by taking into consideration, among other factors, the closing price of the ADSs on June 4, 2020 (the latest trading day before pricing). Subject to approval from The Stock Exchange of Hong Kong Limited (the “SEHK”), the Shares are expected to begin trading on the Main Board of the SEHK on June 11, 2020 under the stock code “9999.” The Global Offering is expected to close on the same day, subject to customary closing conditions.

The gross proceeds to the Company from the Global Offering, before deducting underwriting fees and the offering expenses, are expected to be approximately HK$21,092 million. In addition, the Company has granted the international underwriters an over-allotment option, exercisable from June 5, 2020 until 30 days thereafter, to require the Company to issue up to an additional 25,722,000 new Shares at the Offer Price.

The Company plans to use the net proceeds from the Offering for globalization strategies and opportunities, fueling continued pursuit of innovation, and general corporate purposes.

CICC, Credit Suisse and J.P. Morgan (in alphabetical order) are the joint sponsors and joint global coordinators for the proposed Offering.

The International Offering is being made only by means of a prospectus supplement and the accompanying prospectus included in an automatic shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 29, 2020, which automatically became effective upon filing. The registration statement on Form F-3 and the preliminary prospectus supplement dated June 1, 2010 are available at the SEC website at: http://www.sec.gov. The final prospectus supplement will be filed with the SEC and will be available on the SEC’s website at: http://www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from China International Capital Corporation Hong Kong Securities Limited, Email: g_prospectus@cicc.com.cn, Credit Suisse (Hong Kong) Limited, Email: newyork.prospectus@credit-suisse.com, or J.P. Morgan Securities (Asia Pacific) Limited, Email: prospectus-eq_fi@jpmchase.com.  

This press release shall not constitute an offer to sell or the solicitation of an offer or an invitation to buy any securities, nor shall there be any offer or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. This press release does not constitute a prospectus (including as defined under the laws of Hong Kong) and potential investors should read the prospectus of the Company for detailed information about the Company and the proposed offering, before deciding whether or not to invest in the Company. This press release has not been reviewed or approved by the SEHK or the Securities and Futures Commission of Hong Kong.

The price of the Shares of the Company may be stabilized in accordance with the Securities and Futures (Price Stabilization) Rules. The details of the intended stabilization and how it will be regulated under the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong) have been contained in the prospectus of the Company dated June 2, 2020.

About NetEase, Inc.

As a leading internet technology company based in China, NetEase, Inc. (NASDAQ: NTES) is dedicated to providing premium online services centered around innovative and diverse content, community, communication and commerce. NetEase develops and operates some of China’s most popular mobile and PC-client games. In more recent years, NetEase has expanded into international markets including Japan and North America. In addition to its self-developed game content, NetEase partners with other leading game developers, such as Blizzard Entertainment and Mojang AB (a Microsoft subsidiary), to operate globally renowned games in China. NetEase’s other innovative service offerings include the intelligent learning services of its majority-controlled subsidiary, Youdao (NYSE: DAO); music streaming through its leading NetEase Cloud Music business; and its private label e-commerce platform, Yanxuan. For more information, please visit: http://ir.netease.com/.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. Statements that are not historical facts, including statements about the offering and listing, the use of proceeds and the Company’s strategies and goals, are or contain forward-looking statements. 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. There can be no guarantee that the offering and listing will be completed as planned, or that the expected benefits from the offering and listing will be achieved. You should consider the risk factors included in the registration statement (including any documents incorporated by reference), prospectus and prospectus supplements that have been or will be filed with the SEC and the prospectus registered in Hong Kong. All information provided in this press release is as of the date of this press release and are based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact for Investors:
 Margaret Shi
NetEase, Inc.
ir@service.netease.com
Tel: (+86) 571-8985-3378

Brandi Piacente
Investor Relations
netease@thepiacentegroup.com
Tel: (+1) 212-481-2050

Contact for Media:
Li Ruohan
NetEase, Inc.
globalpr@service.netease.com
Tel: (+86) 571-8985-2668

Alby Wan
Hill+Knowlton Strategies Asia
Alby.Wan@hkstrategies.com
Tel: (+852) 2894-6267

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Source: NetEase, Inc.

PR Newswire

Fang Announces ADS Ratio Change

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BEIJING, June 6, 2020 /PRNewswire/ — Fang Holdings Limited (NYSE: SFUN) (“Fang” or the “Company”), a leading real estate Internet portal in China, today announced that the ratio of American depositary shares (“ADSs”) representing its Class A ordinary shares is being amended from one (1) ADS representing one (1) Class A ordinary share to one (1) ADS representing ten (10) Class A ordinary shares, mainly in preparation for the pending spin-off of its internet businesses.

There will be no change to Fang’s Class A ordinary shares. Furthermore, no physical action by ADS holders will be required to effect the ratio change, as the change will be effected on the books of the depositary. The effect of the ratio change on the ADS trading price on New York Stock Exchange is expected to take place at the open of business on June 19, 2020 (U.S. Eastern Time). Any fractional ADSs will be sold and the net proceeds from the sale of fractional ADSs will be distributed to the holders entitled thereto.

As a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although Fang can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than ten times the ADS price before the change.

About Fang

Fang operates a leading real estate Internet portal in China in terms of the number of page views and visitors to its websites. Through its websites, Fang provides primarily marketing, listing, leads generation and financial services for China’s fast-growing real estate and home furnishing and improvement sectors. Its user-friendly websites support active online communities and networks of users seeking information on, and other value-added services for, the real estate and home furnishing and improvement sectors in China. Fang currently maintains approximately 74 offices to focus on local market needs and its website and database contains real estate related content covering 665 cities in China. For more information about Fang, please visit http://ir.fang.com.

Safe Harbor Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.

These forward-looking statements can be identified by terminology such as “will,” “expects,” “is expected to,” “anticipates,” “aim,” “future,” “intends,” “plans,” “believes,” “are likely to,” “estimates,” “may,” “should” and similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Fang’s control, which may cause its actual results, performance or achievements to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, without limitation, the impact of Fang’s business development strategies and the impact of current and future government policies affecting China’s real estate market. Further information regarding these and other risks, uncertainties or factors is included in Fang’s filings with the U.S. Securities and Exchange Commission. Fang does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

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PR Newswire

Precious Rhodiola plants help China’s Tibetan people out of poverty

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BEIJING, June 5, 2020 /PRNewswire/ — A video story presented by China.org.cn on China’s Tibetan people out of poverty by planting precious Rhodiola:

 

In 2015, Bama Chho Dzong, a resident of Tibet’s Shannanluo village, learned that a small, flowering plant-Rhodiola could help impoverished residents of the autonomous region improve their lives.

Rhodiola is a genus of precious perennial plants that are used in traditional Chinese medicine. After China’s Tibet began accepting tourists, demand increased sharply.

In 2015, Shanghai Inoherb Cosmetics Co., Ltd., the Tibet Academy of Agriculture and Animal Husbandry Sciences and the Qizheng Tibetan Medicine Group established Rhodiola cultivation bases, which made it possible for impoverished people like Bama to return to their hometown and begin working there. During the past three years, three Rhodiola cultivation bases were established.

The first Rhodiola cultivation base was established in Luo village and 60,000 Rhodiola seedlings were planted in 2016. Members of 48 households in the area began engaging in irrigation, weed and pest control, and pruning work at the site.

The second Rhodiola cultivation base was established in Suozhu township, Naidong district and 20,000 Rhodiola seedlings were planted in 2018. The staff compared seedlings that grew from seeds with those that were the results of seed culture projects, grew the plants in various soil environments and have continued to explore various cultivation techniques.

In 2019, the third Rhodiola cultivation base was established in the Shigatse Red River Valley National Agricultural Science and Technology Demonstration Zone and a model involving “gardens + enterprises + farmers and herders” was created and implemented.

The plants that the bases grow currently have a survival rate of more than 80 percent. The results that have been achieved have motivated more and more people to participate in the cultivation of plants used in TCM and the management of the bases. Inoherb pays a management fee based on the survival rate that is attained and bonuses are awarded for high rates which helps to stimulate impoverished people’s intrinsic motivation to escape from poverty.

“We have been growing Rhodiola plants for three years. Our hard work has paid off and our cultivation techniques have been improving. Rhodiola cultivation benefits Tibet’s residents, so more and more people are becoming interested in participating in the industry. We also hope that our techniques can be further promoted,” said Bama Dorje YudonYuthok, Rhodiola tissue culture expert from Tibet Academy of Agricultural and Animal Husbandry Sciences.

Precious Rhodiola plants help China’s Tibetan people out of poverty
http://p.china.org.cn/2020-06/02/content_76119066.htm

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The impact of COVID-19 on smallholders in China

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BEIJING, June 5, 2020 /PRNewswire/ — A news report by China.org.cn:

One emerging lesson from the coronavirus epidemic, in China as well as in the rest of the world, is that while everyone may be affected, those who are already vulnerable are those who are likely to be more severely impacted. People who are already vulnerable have in fact less capacity to cope with the impact of such infection: they have limited access to social services, medical or social protection, and have less capacity to cope economically with the consequences of an outbreak.

A poverty alleviation official helps an impoverished farmer sell ducks amid COVID-19 pandemic in Qinji village, Anhui province.
A poverty alleviation official helps an impoverished farmer sell ducks amid COVID-19 pandemic in Qinji village, Anhui province.

I.       Why caring about the smallholders

The smallholder farmers are most vulnerable group in China. Smallholder farmers, farmers with less than 2-3 ha of land, represent a significant share of the rural population: approximately 230-250 million people. In most cases, poor rural households are smallholders – and, in most cases, smallholders are poor or ‘close-to-poor’ households.

To appreciate how the new coronavirus epidemic has impacted smallholders, we need to look at their main sources of livelihoods. Smallholders depend on the production and sale of agricultural products – although this source of income represent a decreasing share of their income, probably something between 10-20 percent. Increasingly, they depend on informal or seasonal on- and off-farm employment, and – more and more – on the remittances from family members engaged in urban employment (which contribute to an estimated 44 percent of their income).

II.    The impact of movement restrictions on employment, production, and sales

All the three smallholders’ main sources of livelihoods have been severely disrupted by the COVID-19 outbreak. Lockdown and movement restrictions had in fact an impact on employment, particularly for migrant work. Assuming, conservatively, that 75 percent of rural migrants were confined to their villages during the two-month lockdown,a group of researchers from the Rural Education Action Program at Stanford University suggested that possibly 200 million rural individuals have not been working during the lockdown period. If, as reported by Reuters, only 2.3 million people received unemployed benefits so far, the number of workers who have not received a salary for at least two months is extremely high.

Similarly, lockdown and movement (and transportation) restrictions had an impact on the production and sales of agricultural products. Movement and transportation restrictions affected the delivery of agricultural inputs: seeds, fertilizers, animal feed. According to a survey conducted by the Chinese Academy of Agricultural Sciences (CAAS) in five provinces, this had an impact on spring plowing and spring sowing, and a significant impact on livestock production, since livestock production cycles are short. Movement and transport restrictions also had an impact on farmers’ ability to access markets, affecting the sale of fresh products (fruits and vegetables) and livestock in particular, and had an impact on the agricultural supply chains. Almost 70 percent of the cooperatives interviewed by CAAS reported an impact on sales, and 63 percent on the various stages of the supply chain: purchasing materials, processing, transport, and storage.

III.    The resulted impact on income, food security and nutrition

Overall, the main impact of the measures implemented to contain the impact of COVID-19 had an impact on income. According to CAAS estimates, farmers are expected a decrease in income between 10-40 percent. 80 percent of the surveyed farmers by CAAS expected more than 20 percent income decrease. Interestingly, the observed impact on the non-poor (but probably close to the poverty line) was higher than on the poor, possibly because the poor had access to some form of social protection that the non-poor were not eligible to. This makes the non-poor but close-to-poverty households further vulnerable, and at risk of falling into poverty.

The immediate impact of the reduction in income was a reduction in expenditures. According to a survey conducted by the Rural Education Action Program in seven provinces, the experienced reduction in income led to a reduction in expenditures for food consumption. Particularly, it was observed a reduction in the “quality” of the purchased food:frommore nutritious but more expensive food, to low-cost staple food. The immediate implication is that, despite food availability and food prices have overall remained stable during the period of the crisis (although many households reported an increase in food prices), reduced purchasing capacity because of falling income may lead to periods of food insecurity and malnutrition among vulnerable rural households.

The impact of the reduction of income on savings and assets has not yet been analysed – but it isplausible to hypothesize that poor households might have sold their assets and eroded their savings to cope with the crisis, making them more vulnerable.

IV.    Key messages

First, while the effect of the measures implemented to contain the Covid-19 hit everyone (the whole economy has contracted by 6.8 percent in the first quarter, according to the National Bureau of Statistics), the impact on smallholders (and particularly on those that are either poor or above but close to the poverty line) seems higher because they are already vulnerable.

Second, with a gradual pick-up of the economy and a gradual “return to normality,” the short-term impact of COVID-19 may be contained and absorbed. In fact, what may likely happen is that fewer people may escape poverty than would have in the absence of the outbreak.

However, the longer-term impact may be greater: a large share of the population may have become more vulnerable and at risk of falling (or falling back) into poverty in the event of a new shock – be it a new outbreak, an unexpected drop in commodity prices, or a poor harvest due to unfavorable weather events.

This is no surprise. The Government is aware that one of the main challenges in the years after 2020 will be to reduce vulnerabilities and avoid that people fall (or fall back) into poverty.

IFAD will continue to support China’s strategic focus on rural areas and rural people as an integral part of its rural revitalization strategy. Fostering rural communities that are increasingly resilient to shocks will be one of the main areas of cooperation.

Matteo Marchisio is the Country Director and IFAD Representative (China, Republic of Korea, and DPRK) and Head of East Asia Regional Hub and South-South Cooperation Center.

Opinion articles reflect the views of their authors, not necessarily those of China.org.cn and Chinagate.cn.

The impact of COVID-19 on smallholders in China
http://p.china.org.cn/2020-06/01/content_76114092.htm

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Tencent WeSure CEO Alan Lau: COVID-19 spurs insurance demand in China

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SHENZHEN, China, June 5, 2020 /PRNewswire/ — The COVID-19 pandemic has unexpectedly raised the sense of urgency in insurance purchase in China, paving the way for industry players to embrace notably ‘half-ready’ users through curated portfolio and user cultivation backed by technology, according to Alan Lau, CEO of Tencent WeSure.

Alan Lau, CEO of Tencent WeSure
Alan Lau, CEO of Tencent WeSure

Educating the largely under-insured population, building trust among users, and employing technology for accurate pricing are thus the three thrusts to gain an edge in China’s vast yet less penetrated insurance market, Lau addressed a high-profile webinar on innovative insurance practices in China on Tuesday.

The event held online this year due to the novel coronavirus was organized by The Digital Insurer, a trade group focused on accelerating the digital transformation of insurance. Lau was joined by industry peers from ZA Tech Global, Ping An Cloud Accelerator, as well as consultancy Oliver Wyman via a virtual panel discussion, where panelists elaborated on a wide range of topics from China’s ecosystem-driven insurance landscape to the role of technology.

“People often say that insurance is important but not urgent. But the pandemic did create quite a large group of what I would call ‘half-ready’ users, whose risk appetite or sensitivity to risk have grown but aren’t quite ready to buy,” Lau said, citing the doubling of WeSure’s quarter-on-quarter revenue during the height of the outbreak in China.

The outbreak confirms the notion that a major public health event could, to some extent, stimulate demand for insurance. With the lockdown of Wuhan on Jan 23 at the height of the outbreak, demand for insurance saw rapid explosion as newly confirmed COVID-19 cases skyrocketed. With the development of the contagion, the number of total newly-added policy holders, the number of visits to WeSure’s mini program site-a critical indicator gauging prospective insurance needs, as well as annualized health insurance premium have all expanded, meanwhile registering substantial jump compared with same period in 2019.

He referred to a latest research Tencent WeSure conducted in tandem with Shanghai-based Fudan University, which unveiled a string of demographic changes among insurance buyers as a result of the pandemic. For instance, women have become more risk conscious, with the ratio of the number of men and women purchasing insurance on WeSure slashing from 2:1 to 1:1.

The highest jump in user numbers was witnessed among those in their 30s, a population segment perceived to bear the most family responsibilities. Also, by geographical breakdown, residents from the likes of Beijing and Guangdong, who have relatively stronger memories of SARS in 2003, experienced a noticeable pickup in insurance demand.

“So there’s a lot of work for us to do to cultivate and educate these users that have suddenly arrived in very big numbers,” he noted, adding it’s by no means an easy feat given the complicatedness of insurance products even for the most educated population.

To make insurance buying less of a headache, Tencent WeSure has landed on two approaches: First is the adoption of a pre-selection pattern, wherein the platform hand-picks insurance products and tailors offerings based on individual needs. This ‘curated portfolio’ helps streamline the decision-making process, as opposed to the more common insurance marketplace model filled with a dazzling array of offerings that could easily deter prospective buyers.

The other more important gameplay is to employ the power of social “Word of Mouth” to both attract and retain customers. This is best exemplified by the fact that one-third of WeSure’s sales are generated from social referral, three times higher than industry average.

Lau said WeSure has always upheld viral marketing as a ‘very core aspect’ of the business, touting its indispensable role in this trust-based industry. “There’s no better connection and social relationship than what already exists…and no better way to sell when you hear it from your friend’s recommendations.”

Apart from driving sales, the social aspect also weighs in on the post-purchase end, when making insurance claims could be a lengthy and troublesome process. Using a combination of artificial intelligence and human intervention, WeSure assigns each customer with a virtual ‘claim concierge’ that would follow through the entire process.

Such investment is paying off: Lau said 79% of claims handled via WeSure are processed within one day, whereas loss ratio is 30 to 80 percent lower than industry average.

The company has also embarked on new ways of customer engagement and education, riding on the knowledge-sharing and livestreaming boom for new sources of revenue. For instance, livestreaming has managed to turn clicks into revenue, with some 36,000 policies being snapped up from one online broadcast session on May 20. Lau said WeSure will expand the livestreaming footprint across major Chinese social media sites, imparting knowledge on real estate, fund and insurance through vivid, interactive story-telling.

Bill Song, CEO of ZA Tech Global, echoed Lau’s view, saying the comprehensive internet ecosystem, the technology to scale, and the regulatory leeway offered by the authorities hold key to success in China’s booming insurance market.

According to Leonard Li, a partner at Oliver Wyman, the four major growth drivers in Asia’s insurance market are the large protection gap, technological readiness, favorable ecosystems that provide one-stop shop to lifestyle needs, and thriving fintech investment activities.

Launched in 2017, WeSure currently boasts over 80 million active users. Four in ten customers would choose to repurchase from the company, a remarkable achievement fueled by algorithm and data-backed recommendations that serve to enhance product relevance for users. 

About Tencent WeSure

Tencent WeSure Insurance Ltd. is Tencent’s insurance platform. Leveraging Tencent’s strengths of data-driven and social connection, Tencent WeSure works with well-known insurance companies to provide users with high-quality insurance services. Users can make insurance purchases, inquiries and claims directly on the firm’s vastly popular instant messaging and lifestyle platform, Tencent WeChat and QQ. For more information, please visit Tencent WeSure’s LinkedIn page.

For further information, please contact:

Alexandra Li
Email: alexandrali@wesure.cn
Tel: +86-755-2909-9966

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