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Fang Announces Third Quarter 2020 Unaudited Financial Results

November 13, 2020 TechENT Syndication Leave a comment

BEIJING, Nov. 13, 2020 — Fang Holdings Limited (NYSE: SFUN) ("Fang" or the "Company"), a leading real estate Internet portal in China, today announced its unaudited financial results for the third quarter ended September 30, 2020.

Third Quarter 2020 Highlights

Total revenues were $56.7 million, a decrease of 16.1% from $67.6 million in the corresponding period of 2019.
Operating income from continuing operations was $17.7 million, a decrease of 33.7% from $26.7 million in the corresponding period of 2019.
Net income was $10.9 million, an increase of 1,393.3% from $0.7 million in the corresponding period of 2019.

Third Quarter 2020 Financial Results

Revenues

Fang reported total revenues of $56.7 million in the third quarter of 2020, a decrease of 16.1% from $67.6 million in the corresponding period of 2019, mainly due to the decrease in revenues from listing services.

Revenue from marketing services was $30.3 million in the third quarter of 2020, which remained relatively stable with $30.0 million in the corresponding period of 2019.
Revenue from listing services was $10.1 million in the third quarter of 2020, a decrease of 48.2% from $19.4 million in the corresponding period of 2019, mainly due to the decrease in the number of paying customer.
Revenue from leads generation services was $12.9 million in the third quarter of 2020, a decrease of 8.2% from $14.1 million in the corresponding period of 2019.
Revenue from financial services was $1.9 million in the third quarter of 2020, an increase of 9.0% from $1.7 million in the corresponding period of 2019, mainly due to an increase in average loan receivable balances.

Cost of Revenue

Cost of revenue was $5.1 million in the third quarter of 2020, a decrease of 11.0% from $5.7 million in the corresponding period of 2019, primarily due to optimization in cost structure.

Operating Expenses

Operating expenses were $35.1 million in the third quarter of 2020, a decrease of 3.9% from 36.5 million in the corresponding period of 2019, mainly due to the decrease in staff related costs.

Selling expenses were $15.1 million in the third quarter of 2020, which remained relatively stable with $14.8 million in the corresponding period of 2019.
General and administrative expenses were $20.0 million in the third quarter of 2020, a decrease of 7.8% from $21.7 million in the corresponding period of 2019, mainly due to the decrease in staff related costs.

Operating Income from Continuing Operations

Operating income from continuing operations was $17.7 million in the third quarter of 2020, a decrease of 33.7% from $26.7 million in the corresponding period of 2019, mainly due to the decrease in total revenue.

Change in Fair Value of Securities

Change in fair value of securities for the third quarter of 2020 was a gain of $19.4 million, compared to a loss of $26.1 million in the corresponding period of 2019, mainly due to the fluctuation in market price of investments in equity securities.

Income Tax Expenses

Income tax expenses were $19.2 million in the third quarter of 2020, compared to income tax benefits of $0.1 million in the corresponding period of 2019, mainly due to the effect of change in fair value of equity securities.

Net Income

Net income was $10.9 million in the third quarter of 2020, an increase of 1,393.3% from net income of $0.7 million in the corresponding period of 2019.

Business Outlook

Based on current operations and market conditions, Fang’s management predicts a positive net income for the year of 2020, which represents management’s current and preliminary view and is subject to change.

Conference Call Information

Fang’s management team will host a conference call on the same day at 7:00 AM U.S. EST (8:00 PM Beijing/Hong Kong time). The dial-in details for the live conference call are:

International Toll:	+65 67135600
Toll-Free/Local Toll:
United States	+1 877-440-9253 / +1 631-460-7472
Hong Kong	+852 800-906-603 / +852 3018-6773
Mainland China	+86 800-870-0075 / +86 400-120-0948
Direct Event Passcode	1383200#

Please register in advance of the conference using the link provided below. Upon registering, you will be provided with participant dial-in numbers, Direct Event passcode (1383200#) and unique registrant ID. Get prompted 10 min prior to the start of the conference. Enter the Direct Event Passcode above (1383200#), and your unique Registrant ID, followed by the pound or hash (#) sign to get into the call.

Direct Event online registration: http://apac.directeventreg.com/registration/event/2585897

A telephone replay of the call will be available after the conclusion of the conference call from 10:00 AM ET on November 13, 2020 through 7:59 AM ET November 21, 2020. The dial-in details for the telephone replay are:

International Toll:	+61 2-8199-0299
Toll-Free/Local Toll:
United States	+1 855-452-5696 / +1 646-254-3697
Hong Kong	+852 800-963-117 / +852 3051-2780
Mainland China	+86 400-602-2065 / +86 800-870-0206
Conference ID:	2585897

A live and archived webcast of the conference call will be available on Fang’s website at http://ir.fang.com.

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, and include, without limitation, statements regarding Fang’s future financial performance, revenue guidance, growth and growth rates, market position and continued business transformation. 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, the impact of the COVID-19 pandemic, 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.

Fang Holdings Limited
Unaudited Condensed Consolidated Balance Sheets
(in thousands of U.S. dollars, except share data and per share data)

ASSETS		September 30,	December 31,
		2020	2019
Current assets:
	Cash and cash equivalents	111,848	105,282
	Restricted cash, current	229,168	219,096
	Short-term investments	253,135	194,720
	Accounts receivable, net	98,999	66,379
	Funds receivable	4,514	8,372
	Prepayment and other current assets	32,494	31,509
	Commitment deposits	193	188
	Loans receivable, current	73,899	60,490
	Amounts due from related parties	744	644
Total current assets		804,994	686,680
Non-current assets:
	Property and equipment, net	693,219	695,457
	Deferred tax assets	3,145	6,570
	Deposits for non-current assets	499	618
	Restricted cash, non-current portion	44,086	42,452
	Long-term investments	246,462	341,946
	Other non-current assets	38,496	39,179
Total non-current assets		1,025,907	1,126,222
Total assets		1,830,901	1,812,902

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
	Short-term loans	300,301	264,624
	Short-term bond payable	106,209	102,779
	Deferred revenue	132,895	134,143
	Accrued expenses and other liabilities	112,971	120,244
	Customers’ refundable fees	3,915	4,981
	Income tax payable	14,733	4,207
	Amounts due to related parties	12,472	9,227
Total current liabilities		683,496	640,205
Non-current liabilities:
	Long-term loans	150,299	184,158
	Convertible senior notes	168,452	168,929
	Deferred tax liabilities	95,985	90,723
	Other non-current liabilities	114,049	138,435
Total non-current liabilities		528,785	582,245
Total Liabilities		1,212,281	1,222,450

Equity:
	Class A ordinary shares, par value Hong Kong Dollar ("HK$") 1 per share, 600,000,000 shares authorized for Class A and Class B in aggregate, issued shares as of December 31, 2019 and September 30, 2020: 71,775,686 and 71,775,686; outstanding shares as of December 31, 2019 and September 30, 2020: 65,403,527 and 65,715,527	9,244	9,244
	Class B ordinary shares, par value HK$1 per share, 600,000,000 shares authorized for Class A and Class B in aggregate, and 24,336,650 shares and 24,336,650 shares issued and outstanding as at December 31, 2019 and September 30, 2020, respectively	3,124	3,124
	Treasury stock	(117,183)	(123,216)
	Additional paid-in capital	540,049	528,620
	Accumulated other comprehensive loss	(75,247)	(98,371)
	Retained earnings	257,939	270,358
Total Fang Holdings Limited shareholders’ equity		617,926	589,759
	Non controlling interests	694	693
Total equity		618,620	590,452
TOTAL LIABILITIES AND EQUITY		1,830,901	1,812,902

Unaudited Condensed Consolidated Statements of Comprehensive Income^[i]
(in thousands of U.S. dollars, except share data and per share data)

		Three months ended
		September 30,	September 30,
		2020	2019

Revenues:
	Marketing services	30,273	29,993
	Listing services	10,061	19,438
	Leads generation services	12,948	14,099
	Financial services	1,864	1,710
	Value-added services	1,382	1,514
	E-commerce services	149	796
Total revenues		56,677	67,550

Cost of revenues:
	Cost of services	(5,066)	(5,694)
Total cost of revenues		(5,066)	(5,694)

Gross profit		51,611	61,856

Operating expenses and income:
	Selling expenses	(15,077)	(14,822)
	General and administrative expenses	(20,005)	(21,688)
	Other income	1,191	1,385

Operating income		17,720	26,731
	Foreign exchange (loss)/income	(5,138)	832
	Interest income	3,192	1,562
	Interest expense	(5,527)	(5,185)
	Investment income	460	2,068
	Realized gain on sale of available-for-sale securities	–	711
	Change in fair value of securities	19,393	(26,148)
	Government grants	72	44
Income before income taxes and noncontrolling interests		30,172	615
Income tax expense
	Income tax (expense)/benefit	(19,241)	117
Net income		10,931	732
	Net income attributable to noncontrolling interests	–	–
Net income attributable to Fang Holdings Limited shareholders		10,931	732
Earnings per share for Class A and Class B ordinary shares:
	Basic	0.12	0.01
	Diluted	0.12	0.01


^{^[i]} On June 19, 2020, a ratio change that had the same effect as a 1-for-10 reverse ADS split took effect, and as a result, one ADS currently represents ten Class A ordinary shares.

The first industrial community planning in Chengdu is being launched in Pidu

November 10, 2020 TechENT Syndication Leave a comment

CHENGDU, China, Nov. 10, 2020 — On October 28, 2020, the development and governance planning of internationalization industry community of Jingrong Lake in Chengdu’s Pidu District was officially announced.

Centering on the electronic information industry function area and two IP status of "Snow Mountain mirring Jingrong Lake", According to the concept of park city, Focusing on Ching Yung Lake community, Pidu District is trying to deepen scene creation and scientific and systematic governance, so as to create an integrated industrial park city demonstration area in the whole area of Deyuan Street. It is worth mentioning that this is also the first industrial community planning in Chengdu. The plan is to be implemented in three stages between 2020 and 2025.

The internationalization industrial community of Jingong Lake in JingongTown of Pidu District is one of the representatives of the industry community in the city, which is most in line with the relevant indicators in the Status of The Guidelines. With a planned area of 22 square kilometers, over 30,000 industrial talents, the proportion of the upper-level population is rising gradually, and the age structure is getting younger. As a result, employment is likely to be in the direction of technology and RESEARCH and development.

Open the scene map of Jingrong Lake International Industrial Community. Sheraton Hotel and Ace International School are under construction. The layout of Guangdong, Hong Kong, Macao (Chengdu) International Convention and Exhibition Center and other high-end business forms was completed. Within a radius of 3 kilometers, there is a people’s Hospital in Pidu District, Chinese Medicine hospital in Pidu District, a government center, library, gym, food street, an intelligent residence in Pidu City, a kindergarten, a streetcar and other facilities. In this way, a convenient and complete "15-minute life circle" can be basically formed.

As an important functional supporting area for the electronic information industry of a trillion level, an industrial park city demonstration area integrating multiple functions including production, research and development, residence, consumption, service and ecology, and an example of the deep integration of high-quality ecological livable place and human-urban industry are rising rapidly.

PR Newswire

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

November 4, 2020 TechENT Syndication Leave a comment

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.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/nel-asa/r/nel-asa–selected-by-iberdrola-as-preferred-supplier-for-a-20-mw-green-fertilizer-project-in-spain,c3230644

The following files are available for download:

https://mb.cision.com/Main/115/3230644/1329992.pdf

Release

PR Newswire

Fang to Report Third Quarter 2020 Financial Results on November 13, 2020

October 30, 2020 TechENT Syndication Leave a comment

BEIJING, Oct. 30, 2020 — Fang Holdings Limited (NYSE: SFUN) ("Fang"), a leading real estate Internet portal in China, today announced that it will report its unaudited financial results for the third quarter ended September 30, 2020 before the U.S. market opens on Friday, November 13, 2020.

Fang’s management team will host a conference call on the same day at 7:00 AM U.S. ET (8:00 PM Beijing/Hong Kong time). The dial-in details for the live conference call are:

International Toll:	+65 67135600
Toll-Free/Local Toll:
United States	+1 877-440-9253 / +1 631-460-7472
Hong Kong	+852 800-906-603 / +852 3018-6773
Mainland China	+86 800-870-0075 / +86 400-120-0948
Direct Event Passcode	1383200#

Please register in advance of the conference using the link provided below. Upon registering, you will be provided with participant dial-in numbers, Direct Event passcode (1383200#) and unique registrant ID. Get prompted 10 mins prior to the start of the conference. Enter the Direct Event Passcode above (1383200#), and your unique Registrant ID, followed by the pound or hash (#) sign to get into the call.

Direct Event online registration: http://apac.directeventreg.com/registration/event/2585897

International Toll:	+61 2-8199-0299
Toll-Free/Local Toll:
United States	+1 855-452-5696 / +1 646-254-3697
Hong Kong	+852 800-963-117 / +852 3051-2780
Mainland China	+86 400-602-2065 / +86 800-870-0206
Conference ID:	2585897

A live and archived webcast of the conference call will be available on Fang’s website at http://ir.fang.com.

About Fang

ATIF Holdings Limited Signed Consulting Agreements with McSen Realty Corp. and Promise Logistics Corp. Totaling US$2 Million

October 26, 2020 TechENT Syndication Leave a comment

LOS ANGELES, Oct. 26, 2020 — ATIF Holdings Limited (Nasdaq: ATIF, the "Company" or "ATIF"), a company providing business consulting and multimedia services in Asia, today announced the Company entered into two financial consulting service agreements, dated Oct 21, 2020 and dated Oct 22, 2020 (the "Agreements"), to act as a business advisor for McSen Realty Corp.("McSen Realty"), a leading real estate brokerage in Irvine, California and Promise Logistics Corp.("Promise Logistics"), a large inland logistics company in City of Industry, California providing logistic services nationwide. The Agreements were signed in anticipation of both McSen Realty and Promise Logistics to enter into the U.S. capital market.

Pursuant to the Agreements, ATIF agreed to provide both McSen Realty and Promise Logistics with services including business consulting, capital market advisory for business planning and strategy development, planning and assisting with fund raising activities, and investor and public relations services. As consideration, each of McSen Realty and Promise Logistics agreed to pay the Company a fixed consulting fee of US$1 million, to be paid in installments subject to certain conditions. The two Agreements totaled to US$2 million.

Mr. Pishan Chi, the Chief Executive Officer of the Company, commented, "We are very excited that we signed the Agreements with McSen Realty and Promise Logistics, two local companies, only three months after the establishment of our U.S. headquarters. Entering into the U.S. capital market is an important milestone for McSen Realty and Promise Logistics, indicating that McSen Realty and Promise Logistics will be in position for better development prospects and growth opportunities. We expect that McSen Realty and Promise Logistics will enhance its brand awareness and credibility in the industry, accumulating trust from customers and investors. In this engagement, we will do our best to help McSen Realty and Promise Logistics go public and to provide guidance on their potential listing and further development."

About McSen Realty Corp.

McSen Realty Corp.("McSen Realty") is the largest real estate brokerage in Irvine, California. McSen Realty provides commercial real estate and financial services including Commercial Real Estate, Residential Real Estate, Fund Investment, Asset Management, Escrow, Real Estate Training School. McSen’s management team has many years of experience in real estate which created strong relationships with all builders. For more information, please visit: https://www.McSenRealtyrealty.com/.

About Promise Logistics Corp.

Established in 2005, Promise Logistics Corp.("Promise Logistics") is a large inland logistics company with its own warehouses and a large number of transportation fleets throughout the United States. Promise Logistics owns a nationwide fleet of 50 plus company-owned trucks and 60 trailers and four warehouses located in Florence KY, Norcross GA, Delaware OH and City of Industry, CA respectively in the U.S.

About ATIF Holdings Limited

Headquartered in Shenzhen, China, ATIF Holdings Limited ("ATIF") is a company providing business consulting services to small and medium-sized enterprises in Asia, 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. Through its majority-owned subsidiary, Leaping Group Co., Ltd., ATIF also provides multimedia services and is engaged in three major businesses, including multi-channel advertising, event planning and execution, film and TV program production and movie theater operations. ATIF operates the largest pre-movie advertising network in Heilongjiang Province and Liaoning Province of China and also provides advertising services in elevators and supermarkets. ATIF is often hired to plan both online and offline advertising campaigns and to produce related advertising material. In addition, ATIF invests in films and TV programs and distributes them in movie theaters or through online platforms. ATIF is also one of majority shareholders of AeroCentury Corp. (NYSE American: ACY) which is an independent global aircraft operating lessor and finance company specializing in leasing regional jet and turboprop aircraft and related engines to airlines and commercial users worldwide. 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

Planon signs partnership with MazeMap

October 14, 2020 TechENT Syndication Leave a comment

BRIGHTON, England, Oct. 14, 2020 — Planon and MazeMap are partnering to integrate Planon’s software for real estate, space, and asset management and MazeMap’s digital wayfinding solutions. This will enable organisations to offer an improved real-time user experience to building occupants and visitors.

MazeMap specialises in digital in- and outdoor wayfinding for large campuses such as universities, hospitals, offices, and conference venues. By connecting MazeMap’s technology with Planon’s Integrated Workplace Management Systems (IWMS), building occupants will benefit from enhanced navigation tools.

Thomas Jelle, CEO of MazeMap – explained, ‘We are delighted to partner with Planon and to bring our digital wayfinding solution to the platform. The joint solution enables building occupants to get real-time directions from A to B.’

‘Combining MazeMap’s expertise with Planon’s market leading IWMS allows us to meet the growing demand for an embedded wayfinding solution,’ said Pierre Guelen, CEO of Planon. Iwan van Eldijk, VP Partnering & Alliances at Planon, added ‘Organisations will benefit from the user-friendly integration of MazeMap’s wayfinding solution with their Planon software solutions and will be able to offer a more hospitable experience to building users."

About Planon

With over 35 years of experience, Planon is the leading global provider of innovative software, proven best practices and professional services that help building owners and occupiers, commercial service providers, and financial controllers to streamline business processes for buildings, assets, workplaces and people. Independent market research and consulting firms have consistently rated Planon as a global leader in the market. Planon has implemented its comprehensive solutions for over 2,500 clients, supported by offices and partners around the world.

About MazeMap

MazeMap is a global provider of digital wayfinding solutions for large campuses such as universities, hospitals, offices, and conference venues. MazeMap is paving the way for innovation by accommodating a number of high-tech integrations, which allow for data visualisation, FMS integration, and building management solutions.

PR Newswire

Warburg Pincus to invest $95MN (INR 700 CR) in Home First – One of India’s leading affordable housing finance companies

October 9, 2020 TechENT Syndication Leave a comment

MUMBAI, India, Oct. 9, 2020 — US based private equity firm Warburg Pincus LLC ("Warburg Pincus"), through it’s affiliate Orange Clove Investments BV, has entered into an agreement to invest about $95 MN (INR 700 Cr) in Home First Finance Company India Ltd ("Home First") on October 2, 2020. The announcement came in today from the leading global private equity firm focused on growth investing. The investment of approximately INR 700 crore is a combination of primary fund raise and secondary sales by existing shareholders. Warburg Pincus joins existing marquee PE firm shareholders True North and Bessemer Venture Partners.

Home First is a technology driven, affordable housing finance company providing home loans to customers from low- and middle-income segments, who are building or buying their first homes. Over the last 10 years, Home First has sanctioned home loans across India to more than 50,000 customers in 60 districts, covering 11 states and 1 union territory. As of March 31, 2020, Home First had an AUM of $480 Mn (INR 3618 Cr) with a Net worth of $124 Mn (INR 933 Cr) and GNPA of 0.87%

This investment is a huge vote of confidence for the Indian affordable housing segment in general and more specifically for the performance of Home First even in the face of this worldwide crisis.

Narendra Ostawal, MD, Warburg Pincus said, "Home First has had a remarkable journey to become a leading affordable housing finance company in a relatively short span of 10 years. It is helmed by a very talented team and robust operating processes that continue to steer the company to do well through the pandemic and to leverage the growth potential of the affordable segment. Warburg Pincus looks forward to the partnership with True North and towards backing Manoj and the management team in its next phase of expansion."

Divya Sehgal, Partner, True North said, "We are proud of the way the company has utilised technology to its advantage, adopting a digital first approach in navigating Covid-19. We welcome Warburg Pincus and look forward to partnering with them in the upcoming journey of Home First."

"Home First is excited to partner with Warburg Pincus in this new phase of its journey.. True North has been a great support as we scaled from a small to a mid-sized company. Our shared passion for tech, belief in sustainable growth and strong governance has seen us thrive through several disruptive events," said Manoj Viswanathan, CEO, Home First.

To know more about Warburg Pincus & Home First click here

Note:

Currency	Exchange rate as on March 31, 2020 (INR)	Exchange rate as on October 1, 2020 (INR)
1 USD	75.3859	73.3834

(Source for 1 USD: www.fbil.org and www.rbi.org.in). Rate as on October 1,2020 is considered since October 2 was a public holiday.

Disclaimer:

Home First Finance Company India Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offer of its equity shares and has filed a draft red herring prospectus dated November 28, 2019 ("DRHP") with the Securities and Exchange Board of India on November 29, 2019. The DRHP is available on the website of the SEBI at www.sebi.gov.in, the respective websites of the book running lead managers, i.e., Axis Capital Limited, Credit Suisse Securities (India) Private Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited at www.axiscapital.co.in, https://www.creditsuisse.com/in/en/investmentbanking/regionalpresence/asiapacific/india/ipo.html, www.icicisecurities.com and http://investmentbank.kotak.com, respectively, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of BSE Limited at www.bseindia.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the DRHP. Potential investors should not rely on the DRHP for any investment decision.

The Equity Shares of Home First have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) to "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act), pursuant to the private placement exemption set out in Section 4(a) of the U.S. Securities Act. Neither this release nor information on the website of Home First constitutes or forms a part of any offer to sell or solicitation of an offer to purchase or subscribe for such Equity Shares in the United States or elsewhere where such offer, solicitation or sale would be unlawful.

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PR Newswire

ST Telemedia Global Data Centres (Thailand) Awarded LEED Gold Certification for “STT Bangkok 1”, Thailand’s First Hyperscale Data Centre

October 7, 2020 TechENT Syndication Leave a comment

BANGKOK, Oct. 7, 2020 — ST Telemedia Global Data Centres (Thailand) or "STT GDC Thailand", a leading data centre service provider, today announced that it has been awarded the LEED® Gold v.4 certification from the U.S. Green Building Council (USGBC) for its STT Bangkok 1 data centre that will be ready for service in Q1 2021. With this, STT Bangkok 1 becomes the largest data centre building in Thailand to be LEED-certified.

Mr. Supparat Singhara Na Ayutthaya, CEO of STT GDC Thailand

The LEED (Leadership in Energy and Environmental Design) green building program is the most widely used green building rating system in the world and an international symbol of excellence. The certification demonstrates that STT Bangkok 1 has achieved high performance in areas such as water efficiency, energy use, indoor environmental quality, materials and resources, and location and transportation.

Commenting on the achievement, Mr. Supparat Singhara Na Ayutthaya, CEO of STT GDC Thailand, said: "This certification is a testament to our commitment to sustainability in the way we do business. Our goal is for our data centres to lower carbon emissions in the long term and reduce operating costs for our customers through an optimal power usage effectiveness (PUE) index while prioritising sustainable practices. This accomplishment sets our data centre apart from others in the industry. It also complements the industry benchmarks set earlier this year with STT Bangkok 1 being the first data centre to be awarded both the TIA-942 Rated-3 and Uptime Institute Tier III Design Document certifications."

"We look forward to delivering a level of service to customers that exceeds current industry standards. After STT Bangkok 1 is launched in Q1/2021, this same approach will be taken for our second data centre to maintain our environmental leadership in the data centre industry," said Mr. Singhara Na Ayutthaya.

Photo – https://photos.prnasia.com/prnh/20201007/2942520-1?lang=0

PR Newswire

RENOSY ASSET Receives 2020 Good Design Award

October 1, 2020 TechENT Syndication Leave a comment

TOKYO, Oct.1, 2020 — GA technologies Co., Ltd. (Headquarters: Minato-ku, Tokyo; President, CEO and Representative Director: Ryo Higuchi; Securities code: 3491; "The Company") hereby announces that being at forefront of real estate investment service, RENOSY ASSET has received the 2020 Good Design Award.

The award recognizes the customer experience of RENOSY ASSET, which provides a seamless real estate service （*1） from property selection to loan review, contract signing and income/expenditure management, to be completed online. Group company ITANDI, Inc. (Headquarters: Minato-ku, Tokyo; Representative Director: Shinpei Noguchi) has also received the award for its self-showing rental website OHEYAGO（ https://oheyago.jp/）

*1 Some documents are still needed to be signed in papers and required to send it by post.

◆ About RENOSY ASSET (https://www.renosy.com/asset)

The Company provides an integrated and seamless real estate service (renting, purchasing, investing, renovating and selling) that leverages technology under the RENOSY general PropTech brand. RENOSY ASSET is an asset building service that leverages real estate. Through data-driven proposals that utilize AI and experienced agent support, The Company is providing an unprecedented real estate investment experience from consideration of investments to management of properties.

<Key points of design>

The three key points below were used to design the real estate purchase experience. (Quoted from the Good Design Finder winners list)

Fully non-face-to-face buying and selling of real estate via online meetings, IT-based disclosures, digital contracts, and loan applications（*2）
Availability of property information and income/expenditure patterns via QR code makes it possible to run various income/expenditure simulations for comparison and consideration
Contract documents for owned property such as monthly cash flow management and confirmation of new properties for sale can be saved as digital

*2 Loan applications at some financial institutions

<Comment from judge>

Online contract procedures are something for which demand has increased all at once due to the COVID-19 pandemic. RENOSY ASSET is designed to offer a real estate investment service that takes everything from property selection to contract signing, loan review, and income management online. The important thing when it comes to conducting high-priced transactions such as real estate online is securing the trust of both parties. Building a system to ensure transparency in the series of processes from gathering information on properties to the reviewing of process is sure to serve as a model when taking other operations and services online.

◆ RENOSY’s past and future pursuing a better customer experience

Based on the mission of "inspiring people with technology and innovation", The Company has worked on reforming the customer experience in the real estate domain since its founding. The real estate industry is an analog one with paper-based materials and contracts as well as telephone/fax communications still in wide use. As such, the customer must also deal with the analog nature of the processes, and digitalization is a challenge. On the other hand, real estate is a high-priced product, so ensuring a relationship of trust between the customer and the company is a key point for ensuring post-purchase customer satisfaction and designing the experience. The Company got its start selling real estate but has been working on digitalization of various processes since its founding and emphasizing the utilization of technology from these standpoints. By placing the same level of emphasis on real services such as face-to-face meetings and proposals by agents, The Company has provided cutting-edge real estate investment services that combine real estate and technology.

However, the way things are done in society continues to change dramatically in response to COVID-19. Business deals addressing the new normal are being sought after in various industries, and non-face-to-face transactions that leverage technology are gaining attention in the real estate industry as well. The Company has been promoting digitalization of the real estate transaction process for some time and, under the current circumstances, was able to launch a fully non-face-to-face real estate sales 17 days after the declaration of a state of emergency.

The Company will work on further improvements of customer experience created by combining real estate and technology and promote research on building trust in non-face-to-face transactions in anticipation of the post-COVID-19 era. In so doing, The Company aims to create and share the next design.

◆ About the Good Design Award

The Good Design Award is a movement aimed at enriching our lives and society through design. Since the foundation in 1957, it has been commonly known together with the "G Mark", the symbol of winning the award.

Good Design Award has recognized various objects surrounding us, including industrial goods, architecture, software, systems, services and so on. No matter tangible or intangible, Good Design Award will take it as design, evaluate and honor its quality, as long as it is created to fulfill certain ideals or purposes.

Nowadays, in the increasingly complex society, our expectations for the role of design in solving problems and discovering new topics are evolving constantly. Through the screening and various ways of promotion, Good Design Award aims to provide support to those who have managed to identify the possibilities of design, explore what can be made happen with design, broaden the fields where design can play a role, and ultimately lead to the creation of the society where everyone can lead a rich and creative life.

URL:

https://www.g-mark.org/about/

◆ GA technologies Company Profile

Company name: GA technologies Co., Ltd.
Representative: Ryo Higuchi, President, CEO and Representative Director
URL: https://www.ga-tech.co.jp/en/
Headquarters: Sumitomo Fudosan Roppongi Grand Tower 40F, 3-2-1 Roppongi, Minato-ku, Tokyo
106-6290, Japan
Established: March 2013
Capital: 1,172,255,470 yen (as of August 31, 2020)
Business area(s):
-Management of RENOSY general PropTech brand (Real estate information media, real estate brokerage, real estate sales, design and construction, real estate management)
-Development of SaaS-based BtoB PropTech products
-Research on real estate-related big data utilizing AI
-Operation of overseas PropTech businesses such as Shenjumiaosuan platform for Chinese investors Main group companies: ITANDI, Inc., Modern Standard Co., Ltd., Shenjumiaosuan Co., Ltd., and four others

PR Newswire

Panchshil Realty Celebrates Strong Sales Growth at Its Flagship Residential Project-Panchshil Towers, Pune

September 24, 2020 TechENT Syndication Leave a comment

PUNE, India, Sept. 24, 2020 — Panchshil Realty today announced that it has achieved strong sales growth and seen excellent demand for its flagship residential project Panchshil Towers, located in Pune’s eastern IT corridor.

Panchshil Towers Clubhouse Render

To view the Multimedia News Release, please click: https://www.multivu.com/players/uk/8769551-panchshil-realty-sales-at-panchshil-towers/

Over the last year, sales at Panchshil Towers have seen encouraging double-digit growth in the domestic market and sales to NRIs have tripled. The sales momentum has in fact picked up post the onset of the pandemic as discerning home buyers are now seeking spacious and well planned homes.

Panchshil Towers’ proximity to Kharadi is one of the many key drivers of sales growth. Over the next 3 to 5 years the total office stock at Kharadi is expected to reach 24 Million Sq Ft with 3,50,000 people expected to work there.

Panchshil Towers is a premium residential destination comprising 9 towers spread over 14 acres with 60% open spaces. 3.5 and 4.5 bedroom-hall-kitchen (BHK) residences are available here with typical apartments ranging in size from 1900 square feet to 2200 square feet (all areas are RERA carpet areas). (MahaRERA No. P52100002528)

Towers A, B, D & E are ready-to-move-in. Apartments at Panchshil Towers (Towers A, B, D & E) start at INR 2.45* Cr. while apartments in the other towers start at INR 1.93 Cr.

Sharing his insights on the sales trends of Panchshil Towers, Mr. Sagar Chordia, Director, Panchshil Realty said, "There has been an increase in demand for larger homes and families want spacious homes to be safe and comfortable post the pandemic. Besides, buyers are increasingly choosing ready-to-move-in homes to fulfill their aspirations for better living in a community setting."

To know more about Panchshil Towers, please click here

Panchshil Realty’s total completed real estate portfolio is around 23 million square feet with another 20 million square feet under development. Panchshil Realty’s three main business verticals are Residential, Commercial and Hospitality. A significant chunk of Panchshil Realty’s office portfolio is anchored by Blackstone Real Estate Private Equity Fund, sponsored and managed by Blackstone Group LP.For more information about Panchshil Realty, please visit www.panchshil.com

For sales enquires related to Panchshil Towers, Pune, please contact Himanshu Rathore on +91-99230-55555 or via email at Himanshu.rathore@panchshil.com

For more detailed disclaimers about Panchshil Towers, please click here.

Photo – https://mma.prnasia.com/media2/1279116/panchshil_towers_clubhouse.jpg?p=medium600
Infographic – https://techent.tv/wp-content/uploads/2020/09/panchshil-realty-celebrates-strong-sales-growth-at-its-flagship-residential-project-panchshil-towers-pune-4.jpg
Infographic – https://techent.tv/wp-content/uploads/2020/09/panchshil-realty-celebrates-strong-sales-growth-at-its-flagship-residential-project-panchshil-towers-pune-5.jpg
Infographic – https://mma.prnasia.com/media2/1279118/sales_trends_infographic.jpg?p=medium600
Logo – https://mma.prnasia.com/media2/1042836/Panchshil_Realty_Logo.jpg?p=medium600

ADVANTAGE KHARADI

KEY DRIVERS Influencing buyers’ preference for Panchshil Towers.

Highlight of Sales Trends at PANCHSHIL TOWERS

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ST Telemedia Global Data Centres (Thailand) Awarded LEED Gold Certification for “STT Bangkok 1”, Thailand’s First Hyperscale Data Centre

RENOSY ASSET Receives 2020 Good Design Award

Panchshil Realty Celebrates Strong Sales Growth at Its Flagship Residential Project-Panchshil Towers, Pune

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