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PR Newswire

Nam Tai Property Announces Grand Opening of Nam Tai Inno Park at Greater Bay Area Tech-empowerment Summit

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SHENZHEN, China, Sept. 11, 2020  — Nam Tai Property Inc. ("Nam Tai" or the "Company") (NYSE Symbol: NTP) is pleased to announce the grand opening of Nam Tai Inno Park (the "Park") at its brand launching event as a part of the "Tech Empowerment • Greater Bay Area" – Technology and Industry Development Summit (the "Summit") held on September 10, 2020 at Guangming Community Sports Center.

At the event, Nam Tai hosted a ceremony with corporate tenants and business partners. Guests included Taihang Automobiles, Mornsun Electronics, Yihong Technology, as well as Harbin Institute of Technology (Shenzhen), Bank of China and Cowin Capital, among others. To date, the Park has attracted around 30 corporate tenants in various tech fields under its pre-leasing program.

The opening of the Park marks the first project launched to the market in Nam Tai’s portfolio and highlights the progress the Company is making on its strategy to be a leading operator of technology parks. Nam Tai is committed to providing the safest, highest quality mixed-use technology and industrial spaces. The Company is also committed to differentiated development strategies, integrated industrial operation system, tech innovations and development opportunities that will create long-term value for its shareholders.

Under the guidance of the Commerce Bureau and Science and Technology Innovation Bureau of Shenzhen Guangming District, Nam Tai co-organized the Summit with Shenzhen Industry-University-Research Cooperation Promotion Association and Shenzhen Big Data and Artificial Intelligence Industry Alliance. In attendance were officials from the district government, industry leaders, scholars and researchers, well-known industry experts, Nam Tai management, financial institutions and media. At the Summit, Jianguo Wei, former Vice Minister of Commerce of China and Vice Chairman of the Center for International Economic Exchanges, delivered a speech on the integration trend of science and technology and industrial economy in the context of the Guangdong-Hong Kong-Macao Greater Bay Area. In addition, Tianyou Chai, academician of the Chinese Academy of Engineering, and Jing Xiao, chief scientist of Ping An Insurance and special expert of national "Thousand Talents Program", discussed the development and future of automation science and technology, and the exploration and practice of "artificial intelligence+finance". 

Nam Tai Inno Park is located in the central area of Guangming District, Shenzhen, with a gross floor area of approximately 330,000 square meters, encompassing five industrial office buildings, two business service centers and three talent dormitories. The office buildings and dormitories are under renovation to be delivered in batches from the third quarter of 2020. The Park is building a "3+4+5" industrial service system to empower enterprises in aspects of technology, incubation, talent, finance, and intelligence. As part of the development project, Nam Tai and Harbin Institute of Technology (Shenzhen) established a "Big Data and Artificial Intelligence Public Service Center" to jointly provide an intelligent ecological environment for enterprises. The Park will continue to promote regional economic development and tech innovation by providing high-quality industrial spaces and service systems.

About Nam Tai Property Inc.

We are a real estate developer and operator, mainly conducting business in Mainland China. Our main land resources are located in the Guangdong-Hong Kong-Macao Greater Bay Area ("Greater Bay Area") and Wuxi, China, of which the three plots in Shenzhen will be developed into Nam Tai Inno Park, Nam Tai Technology Center and Nam Tai Inno Valley. We plan to build these technology parks into landmark parks in the region and provide high-quality industrial offices, industrial service spaces and supporting dormitories to the tenants. Based on the experience of developing and operating technology parks and an industrial relationship network accumulated over the past 40 years, we have also exported the operation model of technology parks to other industrial properties. Through an asset-light model, we have leased industrial properties for repositioning and business invitation. We will also expand the commercial and residential property business in China as an auxiliary development strategy of the Company. As the growth prospects of China maintain, we shall seize development opportunities in the Greater Bay Area and other first- and second-tier cities in China, and continue to strengthen and expand the business of industrial real estate, and commercial and residential properties. Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: "NTP"). Please refer to our corporate website (www.namtai.com) or the SEC website (www.sec.gov) for our press releases and financial statements.

Forward-looking Statement and Factors that Could Cause our Share Price to Decline

Certain statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "might", "can", "could", "will", "would", "anticipate", "believe", "continue", "estimate", "expect", "forecast", "intend", "plan", "seek", or "timetable". These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business and the industry in which we operate. These statements are only predictions based on our current expectations about future events. There are several factors, many beyond our control, which could cause results to differ materially from our expectation. These risk factors are described in our Annual Report on Form 20-F and in our Current Reports filed on Form 6-K from time to time and are incorporated herein by reference. Any of these factors could, by itself, or together with one or more other factors, adversely affect our business, results of operations or financial condition. There may also be other factors currently unknown to us, or have not been described by us, that could cause our results to differ from our expectations. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements apply only as of the date of this announcement; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstance occurring after the date of this press release or those that might reflect the occurrence of unanticipated events.

Related Links :

http://www.namtai.com

PR Newswire

Discover the Untapped Revenue Potential of Cinema in the Kingdom of Saudi Arabia

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Frost & Sullivan’s Digital Media team to explore the cinema exhibition market in KSA and outline strategies for growth during upcoming webinar

SANTA CLARA, California, Aug. 24, 2020 — The loosening of restrictions on the media and entertainment sector by The Kingdom of Saudi Arabia (KSA) has fueled the demand for public viewing of cinema in theaters. This positive development has created revenue generation opportunities for several stakeholders in the ecosystem, both nationally and internationally, as the region is one of few in the world where cinema exhibition is a new business. To help navigate this emergent market, our Digital Media team will provide insight on the near- to long-term growth opportunities present in KSA against a backdrop of challenges, such as the current COVID-19 pandemic and stiff competition faced from over-the-top (OTT) players.

Frost & Sullivan - cinema exhibition in KSA
Frost & Sullivan – cinema exhibition in KSA

Join Frost & Sullivan Director Saurabh Verma, accompanied by Runaway Insights experts Sailesh Dave and Neil Dave, for the Growth Opportunity briefing, "Cinema Exhibition Business in KSA: Strategies for Revenue Generation & Growth," on September 1 at 3 p.m. GST. The briefing will shed light on key innovative development strategies that can be launched by cinema chain operators to effectively enter the market in KSA and sustain long-term progress and profitability.

For more information and to register for the webinar, please visit: http://frost.ly/4do

Key benefits of attending this webinar:

  • Understand the role analytics and big data will play in the theatrical exhibition business in KSA.
  • Decipher if and how cinema chain operators can co-exist with OTT platforms.
  • Discover why KSA is the destination for future investments by real estate developers, cinema equipment and technology providers, and distribution and marketing companies.
  • Identify how cinema chain operators, independent local content creators, international production houses and studios can effectively capitalize on the immense growth opportunities from theatrical exhibition in KSA.

The event will also be recorded and available on-demand at http://frost.ly/1ti. 

About Frost & Sullivan

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

Press Contact: 

Jaylon Brinkley
Frost & Sullivan 
+1 (210) 247 2481
jaylon.brinkley@frost.com

Photo – https://techent.tv/wp-content/uploads/2020/08/discover-the-untapped-revenue-potential-of-cinema-in-the-kingdom-of-saudi-arabia.jpg

 

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PR Newswire

Fang Announces Second Quarter and First Half Year 2020 Unaudited Financial Results

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BEIJING, Aug. 14, 2020 — Fang Holdings Limited (NYSE: SFUN) (“Fang” or “we”), a leading real estate Internet portal in China, today announced its unaudited financial results for the second quarter and the first half year ended June 30, 2020.

Second Quarter 2020 Highlights

  • Total revenues were $66.8 million, a decrease of 1.5% from $67.8 million in the corresponding period of 2019.
  • Operating income from continuing operations was $6.4 million, a decrease of 78.7% from $30.1 million in the corresponding period of 2019.
  • Net income was $21.5 million, an increase of 321.6% from $5.1 million in the corresponding period of 2019.

First Half 2020 Highlights

  • Total revenues were $103.0 million, which remained relatively stable with $102.8 million in the corresponding period of 2019.
  • Operating income from continuing operations was $6.9 million, a decrease of 62.3% from $18.3 million in the corresponding period of 2019.
  • Net loss was $19.4 million, compared to net income of $18.5 million in the corresponding period of 2019.

“During the COVID-19 global pandemic, Fang remained solid financially in the first half of 2020,” commented Mr. Jian Liu, CEO of Fang. “For the coming quarters we will continue our focus on new initiatives such as live broadcastings, online exhibitions and VR livestreams to better serve our customers.”

Second Quarter 2020 Financial Results

Revenues

Fang reported total revenues of $66.8 million in the second quarter of 2020, a decrease of 1.5% from $67.8 million in the corresponding period of 2019, mainly due to the decrease in revenues from listing services.  

  • Revenue from marketing services was $32.1 million in the second quarter of 2020, a decrease of 1.2% from $32.5 million in the corresponding period of 2019.
  • Revenue from listing services was $14.2 million in the second quarter of 2020, a decrease of 26.0% from $19.2 million in the corresponding period of 2019, mainly due to the decrease in the number of paying customers.
  • Revenue from leads generation services was $17.3 million in the second quarter of 2020, an increase of 60.2% from $10.8 million in the corresponding period of 2019, mainly due to an increased acceptance and popularity of our leads generation services.
  • Revenue from financial services was $1.6 million in the second quarter of 2020, a decrease of 44.8% from $2.9 million in the corresponding period of 2019, mainly due to the decrease in average loan receivable balance.

Cost of Revenue

Cost of revenue was $3.6 million in the second quarter of 2020, a decrease of 56.3% from $8.3 million in the corresponding period of 2019, primarily due to the decline in sales and the optimization in cost structure.

Operating Expenses

Operating expenses were $56.2 million in the second quarter of 2020, an increase of 81.3% from $31.0 million in the corresponding period of 2019, mainly due to the increase in staff related costs.

  • Selling expenses were $14.9 million in the second quarter of 2020, a decrease of 7.5% from $16.1 million in the corresponding period of 2019, mainly due to the decrease in staff related costs.
  • General and administrative expenses were $41.3 million in the second quarter of 2020, an increase of 177.2% from $14.9 million in the corresponding period of 2019, mainly due to the increase in staff related costs.

Operating Income from Continuing Operations

Operating income from continuing operations was $6.4 million in the second quarter of 2020, a decrease of 78.7% from $30.1 million in the corresponding period of 2019, mainly due to the increase in operating expenses.

Change in Fair Value of Securities

Change in fair value of securities for the second quarter of 2020 was a loss of $0.7 million, compared to a loss of $48.5 million in the corresponding period of 2019, mainly due to the fluctuation in market price of investments in equity securities.

Income Tax Benefits

Income tax benefits were $16.7 million in the second quarter of 2020, a decrease of 17.2% compared to income tax benefits of $20.1 million in the corresponding period of 2019, primarily due to the effect of change in fair value of equity securities.

Net Income

Net income was $21.5 million in the second quarter of 2020, an increase of 321.5% from $5.1 million in the corresponding period of 2019.

First half year 2020 Financial Results

Revenues

Fang reported total revenues of $103.0 million in the first half year of 2020, which remained relatively stable with $102.8 million in the corresponding period of 2019.   

  • Revenue from marketing services was $47.2 million in the first half of 2020, an increase of 3.3% from $45.7 million in the corresponding period of 2019, mainly due to the growth of company’s new initiative such as live broadcastings., etc.
  • Revenue from listing services was $24.4 million in the first half of 2020, a decrease of 22.3% from $31.4 million in the corresponding period of 2019, mainly due to the decrease in the number of paying customers.
  • Revenue from leads generation services was $24.8 million in the first half of 2020, an increase of 67.6% from $14.8 million in the corresponding period of 2019.
  • Revenue from financial services was $3.3 million in the first half of 2020, a decrease of 48.4% from $6.4 million in the corresponding period of 2019, mainly due to the decrease in average loan receivable balance.

Cost of Revenue

Cost of revenue was $9.0 million in the first half year of 2020, a decrease of 46.1% from $16.7 million in the corresponding period of 2019, primarily due to cost savings from optimizing Fang’s core business.

Operating Expenses

Operating expenses were $88.3 million in the first half year of 2020, an increase of 26.5% from $69.8 million in the corresponding period of 2019, mainly due to the increase in staff related costs.

  • Selling expenses were $28.5 million in the first half year of 2020, a decrease of 12.3% from $32.5 million in the corresponding period of 2019, mainly due to the decrease in staff related costs.
  • General and administrative expenses were $59.8 million in the first half year of 2020, an increase of 60.3% from $37.3 million in the corresponding period of 2019, mainly due to the increase in staff related costs.

Operating Income from Continuing Operations

Operating income from continuing operations was $6.9 million in the first half year of 2020, a decrease of 62.3% from $18.3 million in the corresponding period of 2019, mainly due to the increase in operating expenses.

Change in Fair Value of Securities

Change in fair value of securities for the first half year of 2020 was a loss of $43.3 million, compared to a loss of $16.5 million in the corresponding period of 2019, mainly due to the fluctuation in market price of investments in equity securities.

Income Tax Benefits

Income tax benefits were $19.5 million in the first half year of 2020, an increase of 116.7% from $9.0 million in the corresponding period of 2019.

Net Income (Loss)

Net loss was $19.4 million in the first half year of 2020, compared to a net income of $18.5 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 8:00 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 (1578624#) and unique registrant ID. Get prompted 10 min prior to the start of the conference. Enter the Direct Event Passcode above (1578624#), 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/6379533  

A telephone replay of the call will be available after the conclusion of the conference call from 11:00 AM ET on August 14, 2020 through 9:59 AM ET August 22, 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:

3548478

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[i]

(in thousands of U.S. dollars, except share data and per share data)
 

ASSETS

June 30,

December 31,
   

2020

2019

  

Current assets:

      
 

Cash and cash equivalents

85,461

105,282

  
 

Restricted cash, current

217,259

219,096

  
 

Short-term investments

148,382

194,720

  
 

Accounts receivable, net

87,885

66,379

  
 

Funds receivable

4,092

8,372

  
 

Prepayment and other current assets

32,834

31,509

  
 

Commitment deposits

185

188

  
 

Loans receivable, current

58,979

60,490

  
 

Amounts due from related parties

1,350

644

  

Total current assets 

636,427

686,680

  

Non-current assets:

      
 

Property and equipment, net

676,564

695,457

  
 

Loans receivable, non-current

–

–

  
 

Deferred tax assets

13,220

6,570

  
 

Deposits for non-current assets

482

618

  
 

Restricted cash, non-current portion

40,917

42,452

  
 

Long-term investments

325,863

341,946

  
 

Other non-current assets

36,975

39,179

  

Total non-current assets

1,094,021

1,126,222

  

Total assets

1,730,448

1,812,902

  
         

LIABILITIES AND SHAREHOLDERS’ EQUITY

      

Current liabilities:

      
 

Short-term loans

361,220

367,403

  
 

Deferred revenue

130,083

134,143

  
 

Accrued expenses and other liabilities

100,695

120,244

  
 

Customers’ refundable fees

3,703

4,981

  
 

Income tax payable

11,675

4,207

  
 

Amounts due to related parties

10,048

9,227

  

Total current liabilities

617,424

640,205

  

Non-current liabilities:

      
 

Long-term loans

178,365

184,158

  
 

Convertible senior notes

168,614

168,929

  
 

Deferred tax liabilities

92,080

90,723

  
 

Other non-current liabilities

107,217

138,435

  

Total non-current liabilities

546,276

582,245

  

Total Liabilities  

1,163,700

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 June 30, 2020: 71,775,686 and    

71,775,686; outstanding shares as of December 31, 2019 and June 30, 2020: 
65,403,527 and 65,403,527

9,244

9,244

  
 

Class B ordinary shares, par value HK$1 per share, 600,000,000 s
hares 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
June 30, 2020, respectively

3,124

3,124

  
 

Treasury stock

(123,216)

(123,216)

  
 

Additional paid-in capital

536,352

528,620

  
 

Accumulated other comprehensive loss

(110,381)

(98,371)

  
 

Retained earnings

250,931

270,358

  

Total Fang Holdings Limited shareholders’ equity

566,054

589,759

  
 

Non controlling interests

694

693

  

Total equity

566,748

590,452

  

TOTAL LIABILITIES AND EQUITY

1,730,448

1,812,902

  
 

[i] Impact of the Separation of China Index Holdings Ltd (NASDAQ: CIH) (“CIH”) on the Company’s
Financial Statements: The separation of CIH represents a strategic shift of Fang and has a major effect
on Fang’s results of operations, the business operated by CIH has been reclassified as discontinued
operations. For the periods presented in this press release, the results of the discontinued operations,
less applicable income taxes, are reported as a separate component of income, which is income from
discontinued operations, on the consolidated statements of comprehensive income (loss)

 

 

Unaudited Condensed Consolidated Statements of Comprehensive Income[ii]

(in thousands of U.S. dollars, except share data and per share data)
         
   

Three months ended

Six months ended

  
   

June 30,

  

June 30,

June 30,

June 30,

  
   

2020

  

2019

2020

2019

  
               

Revenues:

            
 

Marketing services

32,072

  

32,465

47,208

45,728

  
 

Listing services

14,197

  

19,212

24,413

31,371

  
 

Leads generation services

17,288

  

10,801

24,806

14,787

  
 

Value-added services

1,525

  

1,665

2,941

2,667

  
 

Financial services

1,557

  

2,926

3,283

6,425

  
 

E-commerce services

206

  

779

315

1,860

  

Total revenues

66,845

  

67,848

102,966

102,838

  
               

Cost of revenues:

            
 

Cost of services

(3,603)

  

(8,254)

(9,010)

(16,692)

  

Total cost of revenues

(3,603)

  

(8,254)

(9,010)

(16,692)

  
               

Gross profit

63,242

  

59,594

93,956

86,146

  
               

Operating expenses and income:

          
 

Selling expenses

(14,889)

  

(16,137)

(28,450)

(32,456)

  
 

General and administrative expenses

(41,268)

  

(14,900)

(59,824)

(37,293)

  
 

Other (expense) income

(691)

  

1,508

1,223

1,895

  
               

Operating income from continuing operations

6,394

  

30,065

6,905

18,292

  
             
 

Foreign exchange (loss) gain

(248)

  

(371)

1,468

(633)

  
 

Interest income

2,198

  

1,630

6,121

3,319

  
 

Interest expense

(3,806)

  

(5,696)

(12,267)

(11,741)

  
 

Investment income, net

516

  

485

1,338

490

  
 

Realized gain on sale of available-for-sale
securities

–

  

573

–

871

  
 

Change in fair value of securities

(692)

  

(48,513)

(43,326)

(16,464)

  
 

Government grants

441

  

465

810

700

  

Income (Loss) before income taxes and
noncontrolling interests from continuing
operations

 

4,803

  

 

(21,362)

 

(38,951)

 

(5,166)

  

Income tax benefits

            
 

Income tax benefits

16,675

  

20,127

19,525

9,008

  

Net income (loss) from continuing operations,
net of income taxes

 

21,478

  

 

(1,235)

 

(19,426)

 

3,842

  

Income from discontinued operations, net of income
taxes

–

  

6,349

–

14,672

  

Net income (loss)

21,478

  

5,114

(19,426)

18,514

  
 

Net loss attributable to noncontrolling interests

1

  

–

1

–

  

Net income (loss) attributable to Fang Holdings
Limited shareholders

 

21,477

  

 

5,114

 

(19,427)

 

18,514

  

Earnings /(loss) per share for Class A and Class B ordinary shares:

      
 

Basic

0.24

  

0.06

(0.22)

0.21

  
 

Diluted

0.24

  

0.06

(0.22)

0.20

  

Earnings /(loss) from continuing operations per share for Class A and Class B ordinary shares:
 

Basic

    

(0.01)

  

0.04

  
 

Diluted

    

(0.01)

  

0.04

  

Earnings from discontinued operations per share for Class A and Class B ordinary shares:
 

Basic

    

0.07

  

0.16

  
 

Diluted

    

0.07

  

0.16

  
 

[ii] 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.

 

Related Links :

http://www.fang.com

PR Newswire

E-House to Become Leju’s Majority Shareholder; E-House, Alibaba and Leju to Jointly Build Online Real Estate Platform; Alibaba to Increase Stake in E-House

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BEIJING, July 31, 2020 — Leju Holdings Limited ("Leju" or the "Company") (NYSE: LEJU), a leading e-commerce and online media platform for real estate and home furnishing industries in China, today announced that it has become aware that E-House (China) Enterprise Holdings Limited ("E-House") (Stock Code: 2048), listed on The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), has entered into definitive agreements with Mr. Xin Zhou, Leju’s executive chairman, and certain of his affiliated entities ("Zhou Parties"), and SINA Corporation and its affiliated entity ("SINA Parties"), to acquire an aggregate of 56.19% interest in the issued share capital of Leju. 

To Leju’s knowledge, pursuant to the agreements, E-House has conditionally agreed to purchase (i) 49,686,192 ordinary shares and 2,239,804 ADSs (each representing one ordinary share) of Leju from the Zhou Parties by issuing to the Zhou Parties 166,918,440 of its ordinary shares ("E-House Shares"), and (ii) 24,438,564 ordinary shares and 36,687 ADSs (each representing one ordinary share) of Leju from the SINA Parties by issuing to the SINA Parties 78,676,790 E-House Shares. The completion of these transactions is subject to certain closing conditions, including the approval by the requisite majority of shareholders or independent shareholders of E-House and the granting of the approval for the listing of, and permission to deal in, the E-House Shares by the Hong Kong Stock Exchange. Upon completion of these transactions, Leju will become a subsidiary of E-House and its financial results will be consolidated into the accounts of E-House.

In addition, E-House announced the establishment of strategic cooperation with Alibaba Group Holding Limited (NYSE, BABA, 09988.HK) ("Alibaba"). According to a business cooperation agreement entered into between E-House and a subsidiary of Alibaba, the two parties will cooperate in areas including online-offline real estate transaction, digital marketing and after-sale services with the goal of enhancing the digital and intellectual capabilities of the real estate service industry. Alibaba will closely collaborate with E-House and Leju to build an online real estate marketing platform and digital transaction network, with E-House being the operator of online transaction services on the platform and Leju being the operator of digital marketing services.

Also to Leju’s knowledge, Alibaba has agreed to (i) subscribe for E-House Shares to be issued by E-House, which will increase Alibaba’s stake in E-House to approximately 8.32%, and (ii) subscribe for a convertible note to be issued by E-House that is convertible into E-House Shares. Assuming full conversion of the convertible note, Alibaba will own a total 13.26% of the issued share capital of E-House, making it the second largest shareholder of E-House.  

"The cooperation between E-House and Alibaba is not only a key milestone in E-House’s and Leju’s development, but also a significant event in China’s real estate service industry," said Mr. Xin Zhou, Leju’s executive chairman. "In the process of collaborating with E-House and Alibaba to build an online real estate marketing and transaction platform, Leju will leverage its experience in online marketing and transaction service and become the service provider for digital marketing and operation on the platform. This will greatly enhance Leju’s core value and competitiveness."

About Leju

Leju Holdings Limited ("Leju") (NYSE: LEJU) is a leading e-commerce and online media platform for real estate and home furnishing industries in China, offering real estate e-commerce, online advertising and online listing services. Leju’s integrated online platform comprises various mobile applications along with local websites covering more than 380 cities, enhanced by complementary offline services to facilitate residential property transactions. In addition to the Company’s own websites, Leju operates the real estate and home furnishing websites of SINA Corporation, and maintains a strategic partnership with Tencent Holdings Limited. For more information about Leju, please visit http://ir.leju.com.

Safe Harbor Statement

This announcement 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" and similar statements. Statements that are not historical facts, including statements about Leju’s beliefs and expectations, are 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 All information provided in this press release is as of the date of this press release, and Leju does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:

Ms. Christina Wu
Leju Holdings Limited
Phone: +86 (10) 5895-1062
E-mail: ir@leju.com

Philip Lisio
Foote Group
Phone: +86 135-0116-6560
E-mail: phil@thefootegroup.com

PR Newswire

Fang to Report Second Quarter 2020 Financial Results on August 14, 2020

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BEIJING, July 31, 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 second quarter ended June 30, 2020 before the U.S. market opens on Friday, August 14, 2020.

Fang’s management team will host a conference call on the same day at 8:00 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

1578624#

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 (1578624#) and unique registrant ID. Get prompted 10 min prior to the start of the conference. Enter the Direct Event Passcode above (1578624#), and your unique Registrant ID, followed by the pound or hash (#) sign to join the call.

Direct Event online registration: http://apac.directeventreg.com/registration/event/3548478  

A telephone replay of the call will be available after the conclusion of the conference call from 11:00 AM ET on August 14, 2020 through 9:59 AM ET August 22, 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: 

3548478

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.

 

Related Links :

http://www.fang.com

PR Newswire

Danke Partners with SF.Freight, Huolala to Provide One-click Moving Service for China College Grads

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BEIJING, July 9, 2020 — Phoenix Tree Holdings Limited (“Danke” or the “Company”) (NYSE: DNK), one of the largest co-living platforms in China with the fastest growth, has teamed up with leading logistics service provider SF.Freight and on-demand delivery provider Huolala to offer one-click moving service for college graduates in China.

 

With the impact of the COVID-19 pandemic and resulting travel restrictions, college graduates face many challenges in moving their belongings out of their on-campus dorms. To help college graduates move out smoothly, Danke is offering coupons valued at up to RMB100 for shipment of oversized packages using SF.Freight, and for moving services provided by Huolala, respectively. Whether for an intra-city move, or for shipping long distance or across the country, these services are extremely helpful and therefore in high demand among college graduates. The launch of Danke’s one-click moving service, in collaboration with SF.Freight and Huolala, guarantees a hassle-free moving experience for recent college graduates, while also providing a measure of financial support.

To help college graduates find affordable apartments and settle down in their desired cities after graduation, Danke provides a complete rental solution, including high-quality standardized and furnished apartments, best-in-class services, and online/offline community activities through its Starling Project. More than one million graduates from over 2,000 colleges and universities have benefited from the project over the past four years.

As a leading co-living platform in China, Danke pioneered an innovative ”new rental” business model, which features centralization, standardization and online experience to address the numerous pain points suffered by both individual property owners and renters. Founded in 2015, Danke now operates in 13 major cities around the country and provides its young and well-educated residents with affordable, comfortable and stylish apartments.

ABOUT DANKE

Danke, one of the largest co-living platforms in China with the fastest growth, is redefining the residential rental market through technology and aims to help people live better. Empowered by data, technology, and a large-scale apartment network, Danke’s vibrant and expanding ecosystem connects and benefits property owners, residents, and third-party service providers, and delivers quality and best-in-class services through an innovative “new rental” business model featuring centralization, standardization, and a seamless online experience. Danke was founded in 2015 and is headquartered in Beijing, China. For more information, please visit ir.danke.com.

CONTACTS

Danke PR
Email: pr@danke.com

Edmond Lococo
ICR, Inc.
Email: DankePR@icrinc.com
Phone: +86 138-1079-1408

 

Related Links :

http://ir.danke.com

PR Newswire

KPMG and Planon Extend Cooperation to Support Organisations in the Digitalisation of Lease-, Real Estate- and Portfolio Management Processes

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NIJMEGEN and AMSTELVEEN, Netherlands, June 26, 2020 — KPMG and Planon today announced moving their collaboration to the next level, by signing a partnership agreement. Over the past two years the parties have been successfully working together on helping companies to comply with IFRS 16 standards by implementing Planon’s Lease Accounting solution across Europe.

Thanks to this partnership organisations can achieve a stronger ‘end-to-end transformation’ from lease accounting towards strategic portfolio management. The combination of Planon’s innovative software solutions with KPMG’s extensive knowledge around process optimisation and performance improvements creates synergy. It will enable building owners and users to plan and execute a smart portfolio management strategy, using innovative technologies managed from a single-source-of-truth.

Gerben de Roest, Partner at KPMG Enterprise Solutions, said, ‘I am very happy that we have found a global software provider that helps building owners and occupiers to streamline business processes for buildings, people and workplaces and that puts innovation first. I am looking forward to continuing our successful collaboration by helping our mutual and new clients to get the most value out of their Planon investments, by providing value added expertise and controlled implementation of Planon solutions and related technology.’

Sander Grunewald, Partner at KPMG Real Estate Advisory, added, ‘The extended cooperation in a partnership between Planon and KPMG emphasises our global firm’s focus to support corporate organisations with optimising and digitising their real estate portfolios and further align real estate within its key business strategy. Many of our corporate clients are looking to embrace the opportunities that technology brings. We aim to support them in gaining the full potential from digital and innovative technology. Planon is one of the established technology providers in this domain that can fulfill a bridging role to connect the technology solutions and bring additional value to the corporate clients.

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.

About KPMG Netherlands

KPMG has offered high-quality accountancy and advice services in the Netherlands since 1917.

 

Related Links :

https://planonsoftware.com

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

Bright Pattern Contact Center Deployed by the Leading Real Estate Marketplace in the US

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SOUTH SAN FRANCISCO, California, June 11, 2020 /PRNewswire/ — Bright Pattern, a leading provider of AI-powered cloud contact center software for innovative companies, announced today that it was deployed by the leading real estate marketplace in the US to support customers over voice and chat. The company is dedicated to empowering consumers with data and inspiration around the place they call home. The company plans to empower customers in 2020 with a tight integration between its mobile app and the Bright Pattern platform to provide seamless connectivity to live support agents from within the app.

The online real estate company selected Bright Pattern as its cloud contact center provider because of Bright Pattern’s ability to handle innovative channels like in-app communication (talk, chat, or share documents within the mobile app), enterprise scalability, simple deployment, ease of use, and out-of-box integration with Zendesk CRM.

“Like most companies shifting to work-from-home due to the current COVID-19 pandemic, this enterprise customer needed a cloud solution that would empower their agents to effortlessly work from home with full connection to their mobile application and existing solutions,” said Michael McCloskey, CEO at Bright Pattern. “Deploying a virtual contact center can be a hard task, but Bright Pattern helps by providing a platform that connects agents and teams while utilizing AI and automation to reduce contact center expenses and assist remote agents. Bright Pattern is helping enterprises across the globe migrate to the cloud and adopt omnichannel to provide a more effortless experience between multiple channels like in-app and voice. Bright Pattern’s omnichannel platform has built-in capabilities for a customer to initiate a live phone conversation or video conversation directly from the self-service mobile app.”

Bright Pattern Mobile App Customer Support
 Bright Pattern offers in-app customer service, empowering your customers to request live assistance directly from their mobile apps. Customers no longer have to start a call, listen to menu prompts, wait on hold, identify themselves, or explain why they are calling.

Bright Pattern Mobile App Features:

  • One-click dialing and messaging directly from the mobile app for voice and video escalation
  • Customer context carried from app to other channel (ie. customer data is sent to the live agent so that the customer never has to repeat themselves)
  • Customer notification when an agent is ready, eliminating hold time
  • Mobile messenger integration with Facebook Messenger, LINE, Telegram, Twitter, Viber, and WeChat
  • Photo and media sharing within the app (ie. a car insurance customer can send an image of a car accident directly through the mobile app when filing a claim)
  • Two way mobile messaging offers a convenient way to inform customers about deliveries, purchases, or suspicious activities
  • Surveys can be offered at the end of all mobile interactions
  • In-context reporting over all channels for a comprehensive view
  • CRM integration for data consolidation and ease of use for agents

Bright Pattern Zendesk Integration
 The Bright Pattern Zendesk integration leverages the information contained in your Zendesk CRM with Bright Pattern’s omnichannel cloud call center solution to provide an exceptional agent and customer experience.

Benefits of Out-of-the-box Zendesk Integration:

  • Agent empowerment through unified agent desktop
  • True omnichannel routing engine
  • Customizable customer journey
  • Robust omnichannel analytics

Read more on our Bright Pattern + Zendesk Use Cases:

About Bright Pattern 
 Bright Pattern provides the simplest and most powerful AI-powered contact center for innovative midsize and enterprise companies. With the purpose of making customer service brighter, easier, and faster than ever before, Bright Pattern offers the only true omnichannel cloud platform with embedded AI that can be deployed quickly and nimbly by business users—without costly professional services. Bright Pattern allows companies to offer an effortless, personal, and seamless customer experience across channels like voice, text, chat, email, video, messengers, and bots. Bright Pattern also allows companies to measure and act on every interaction on every channel via embedded AI omnichannel quality management capability. The company was founded by a team of industry veterans who pioneered the leading contact center solutions and today are delivering architecture for the future with an advanced cloud-first approach. Bright Pattern’s cloud contact center solution is used globally in over 26 countries and 12 languages.

Logo – https://techent.tv/wp-content/uploads/2020/06/bright-pattern-contact-center-deployed-by-the-leading-real-estate-marketplace-in-the-us.jpg

PR Newswire

Propzy Raises $25M Fund from Gaw Capital and Softbank Ventures Asia

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HO CHI MINH CITY, Vietnam, June 10, 2020 /PRNewswire/ — Propzy, a full-stack real estate platform based in Vietnam, has raised $25 million in a Series A round of funding led by Gaw Capital and Softbank Ventures, along with new and existing investors, Next Billion Ventures, RHL Ventures Breeze, FEBE Ventures, RSquare, and Insignia. 

Propzy
Propzy

With the investment, Propzy commits to simplifying real estate transactions, from beginning to end, and managing the assets or logistics to streamline the entire real estate lifecycle, such as leasing and purchasing of landed houses and high-rise condos.

The company will also continue its expansion into leasing services by leveraging the online to offline capabilities of its platform, which has recorded 50% month-over-month growth.

 As the only “firetech” (financial, insurance and real estate technology) company in Vietnam, the company pioneered the hybrid online to offline model that offers a full-stack real estate platform.

“Propzy is an example of the many macroeconomic successes in Vietnam. With its innovative breakthrough in real estate’s offline to online business models, we see the immense potential of Propzy to skyrocket,” said Gaw Capital’s Managing Partner, Humbert Pang.

Vietnam has emerged as a thriving real estate market in Southeast Asia. Despite the global crisis and coronavirus pandemic, Vietnam has reached its target of over 5% GDP growth in 2020. 

Despite this, however, the real estate industry still lags in terms of its adoption of new technology. 

“Sellers see uncovering buyers needs as a headache that slows the buying process. Therefore, we invited a group of world-class investors to provide an advanced solution. With the largest number of estate agents in Vietnam – around 400 sales staff operating in 30 locations – we have facilitated over $1 billion in property transactions since inception and anticipate another record-setting year of growth, as we continue to expand,” said Founder and CEO of Propzy, John Le.

Vietnam’s robust economy is one of the fastest-growing in Southeast Asia. Research by the World Bank found that 70% of Vietnam’s population is considered economically secure. Propzy is now well-positioned to scale its market leadership to 70 centers and 1,300 advisors nationwide over the next 18 months.

“The security that the Vietnamese economy offers to property investors and homebuyers is ideal for Propzy to thrive. We are excited to support the company in its mission to enable a 10X consumer experience in real estate,” said Daniel Kang, Senior Partner of SoftBank Ventures Asia.

About Propzy

Founded in 2016 by Mr. John Le, Propzy is a full-stack real estate platform and integrated marketplace offering open house, closing-settlement services, and turn-key mortgage financing. The founder is a multiple exit serial entrepreneur behind numerous leading fintech companies, including LoanTrader and Portellus, with blue-chip investment from Goldman Sachs, CitiGroup, GE Capital, Zurich, FBR Capital and IAC.

About SoftBank Ventures Asia

Founded in 2000, SoftBank Ventures Asia is the early-stage venture arm of SoftBank Group. Their expertise lies in ICT investments including AI, IoT, and smart robotics. They look for early to growth-stage startups that have strong business potential in the global market and assist them to be plugged into the SoftBank ecosystem by facilitating side-by-side growth.

About Gaw Capital Partners

Gaw Capital Partners is private equity fund management company that focusing on real estate markets in greater China and other high barrier-to-entry markets globally. Specializing in adding strategic value to under-utilized real estate, the firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, hospitality and logistics warehouses.

Photo – https://photos.prnasia.com/prnh/20200609/2825006-1?lang=0