Tag Archives: TRN

PR Newswire

PTT Team Up with Partners to Launch 5G x UAV SANDBOX to Unlock Thailand’s First Restriction-free Drone Testing Area at Wangchan Valley

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BANGKOK, Nov. 12, 2020 — Wangchan Valley invites start-ups, investors, and all interested parties to utilize 5G technology and the first UAV regulatory sandbox in Thailand. Together, both sandboxes will serve as a paradigm shift mechanism to drive Thailand’s innovation ecosystem, since the country’s development is geared towards Industry 4.0.

PTT Team Up with Partners to Launch 5G x UAV SANDBOX to Unlock Thailand’s First Restriction-free Drone Testing Area at Wangchan Valley
PTT Team Up with Partners to Launch 5G x UAV SANDBOX to Unlock Thailand’s First Restriction-free Drone Testing Area at Wangchan Valley

Mr. Auttapol Rerkpiboon, President & CEO of PTT, stated that the Wangchan Valley development project in the Easter Economic Corridor (EEC) covers 3,454 rai of land in Wangchan District, Rayong. PTT proudly presents the project and welcomes all stakeholders for their participation. This project is in accordance with the "Powering Thailand’s Transformation" vision to jump start Thailand through the transformation period.

PTT fully commits to maintaining its core businesses’ strength and creating new businesses in order to maintain PTT Group’s growth and facilitate Thailand’s transformation through technologies and innovations.

Mr. Wittawat Svasti-Xuto, Chief Technology and Engineering Officer of PTT, explained that the 5G x UAV SANDBOX will uncover the full potential of 5G and UAV technologies and incubate innovative business. In this regard, PTT and partners will jointly develop a range of technological infrastructure, as follows:

  • CAAT: as the regulator of Thai aerial transportation, facilitates to make Wangchan Valley the first restriction-free drone testing area
  • NBTC: as the regulator of the Thai telecommunication spectrum, supports the trial of 5G network in Wangchan Valley and also aims to benefit commercial uses.
  • NSTDA is the key state agency overseeing the Eastern Economic Corridor of Innovation (EECi) and is providing support of developing drone skills related to flight controls for interested individuals.
  • AIS is teaming up with VISTEC to develop an engineering drone to help monitor and maintain assets and property.
  • TRUE is developing and testing drone patrols to eliminate blind spots and secure perimeters.
  • DTAC is developing ultra-HD video surveillance capable of providing responsive control system.

PTT would like to invite interested parties to jointly develop and take advantage of the ecosystem and infrastructure at Wangchan Valley. Participants will receive investment incentives from the Board of Investment (BOI). The BOI’s incentives, including a corporate tax exemption for up to 13 years, import tax waivers for machinery and raw materials, personal income tax of 17%, Smart Visa program for experts and family members, and One Stop Service Center for investors’ convenience. For more information, please email: info@wangchanvalley.com.

PR Newswire

Semicon Light, a company possessing the original technology of silver free-flip chip LED, will actively respond to patents

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YOUNGIN-SI, South Korea, Nov. 12, 2020 — Semicon Light plans to actively respond to the patents to protect the original technology, "Silver- Free Flip Chip LED".

Logo of SEMICON LIGHT Co., Ltd
Logo of SEMICON LIGHT Co., Ltd

Semicon Light, a company specializing in manufacturing flip-chip LEDs, developed the silver-free flip-chip technology for the first time and holds original patents related to the flip-chip LEDs’ reflective layer. It is a Korean LED chip manufacturer listed on the KOSDAQ market in 2015, and has about 250 flip chip LED-related patents registered in Korea and other countries such as the United States and China.

Semicon Light’s silver-free flip chip is a new type of flip chip instead of the existing horizontal LED chip, and adopts a method of inverting the LED chip and directly fusing it onto the substrate without separate wire bonding. It is a technology that can realize ultra-high reflectance and high reliability through the oxide matirials(DBR, Distributed Bragg Reflector). In addition, it can significantly improve the performance of the elements by being easily applied to ultra-small LEDs such as Mini or Micro LEDs, which are rapidly forming the market recently.

The industry predicts that the display market based on mini LEDs will be formed in earnest from next year prior to realizing the display using micro LED, which is the final and ultimate display technology. In fact, according to a report by the market research firm, Trend Force, it is predicted that mini LED TVs will compete equally with W-OLED (White Organic Light-Emitting Diode) TVs in the premium TV market next year.

With such changes in the display markets, flip-chip LED has become an essential technology, not an option. It is expected that Semicon Light’s ‘Silver Free Flip Chip’ technology, which can make LED chips small while maintaining high performance and high reliability, will emerge as an important element technology. It is found that several large LED chip manufacturers in Taiwan and mainland China are adopting the related technologies.

In this context, Semicon Light intends to materialize the patent strategies and will make every effort to secure the competitiveness of our own technologies by actively responding to patent infringement.

According to company officials, "Semicon Light has world-class LED technologies. In particular, we plan to proactively assert our rights against indiscriminate infringement of intellectual property by establishing a dedicated organization to protect our original technologies.

PR Newswire

Bitauto Announces Completion of Merger

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BEIJING, Nov. 6, 2020 — Bitauto Holdings Limited ("Bitauto" or the "Company") (NYSE: BITA), a leading provider of internet content & marketing services, and transaction services for China’s automotive industry, today announced the completion of the merger with Yiche Mergersub Limited ("Merger Sub"), a wholly owned subsidiary of Yiche Holding Limited ("Parent"), pursuant to the previously announced agreement and plan of merger, dated as of June 12, 2020 (the "Merger Agreement"), by the Company, Parent and Merger Sub. As a result of the merger, the Company became a wholly owned subsidiary of Parent and will cease to be a publicly traded company.

Pursuant to the Merger Agreement, which was approved by the Company’s shareholders at an extraordinary general meeting on October 23, 2020, each ordinary share of the Company (each a "Share") issued and outstanding  immediately prior to the effective time of the merger (the "Effective Time") has been cancelled and ceased to exist in exchange for the right to receive US$16 in cash without interest, and each outstanding American depositary share of the Company (each, an "ADS," representing one Share) represents the right to receive US$16 in cash without interest (the "Merger Consideration"), except for (a) certain Shares (including Shares represented by ADSs) owned by affiliates of Tencent Holdings Limited, an affiliate of JD.com, Inc., and Mr. Bin Li, chairman of the board of directors of the Company, which have been cancelled in exchange for newly issued shares of Parent, (b) Shares (including Shares represented by ADSs) owned by Parent, Merger Sub, the Company or any of their respective subsidiaries, (c) Shares (including Shares represented by ADSs) held by Citibank, N.A., the ADS depositary and reserved for issuance, settlement and allocation upon exercise or vesting of Company’s options and/or restricted share unit awards, and (d) Shares held by shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the merger pursuant to Section 238 of the Companies Law of the Cayman Islands, which have been cancelled and ceased to exist in exchange for the right to receive the payment of fair value of those dissenting shares in accordance with Section 238 of the Companies Law of the Cayman Islands.

Each registered shareholder immediately prior to the Effective Time who are entitled to the Merger Consideration will receive from the paying agent a letter of transmittal and instructions on how to surrender their Shares in exchange for the Merger Consideration in respect of each Share held thereby, and should wait to receive the letter of transmittal before surrendering their Shares. Payment of the Merger Consideration (less an ADS cash distribution fee of US$0.05 per ADS), without interest and net of any applicable withholding taxes, will be made to holders of ADSs in respect of each ADS held thereby as soon as practicable after Citibank, N.A., the ADS depositary, receives the aggregate Merger Consideration payable to holders of ADSs from the paying agent.

The Company requested that trading of its ADSs on the New York Stock Exchange (the "NYSE") be suspended as of 9:00 a.m. (New York time) on November 5, 2020. The Company requested that the NYSE file a Form 25 with the Securities and Exchange Commission (the "SEC") notifying the SEC of the delisting of its ADSs on the NYSE and the deregistration of the Company’s registered securities. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by promptly filing a Form 15 with the SEC. The Company’s obligation to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will cease once the deregistration becomes effective.

In connection with the merger, Duff & Phelps, LLC and Duff & Phelps Securities, LLC are serving as financial advisor to the special committee of the board of directors of the Company (the "Special Committee"). Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal counsel to the Special Committee.

BofA Securities is serving as financial advisor to the investor consortium. Latham & Watkins LLP and Kirkland & Ellis are serving as U.S. legal counsel and Hong Kong legal counsel to the investor consortium, respectively.

About Bitauto Holdings Limited

Bitauto Holdings Limited (NYSE: BITA) is a leading provider of internet content & marketing services, and transaction services for China’s automotive industry. Bitauto’s business consists of three segments: advertising and subscription business, transaction services business and digital marketing solutions business.

Bitauto’s advertising and subscription business provides a variety of advertising services to automakers through the bitauto.com website and corresponding mobile apps which provide consumers with up-to-date automobile pricing and promotional information, specifications, reviews and consumer feedback. Bitauto also provides transaction-focused online advertisements and services for promotional activities to its business partners, including automakers, automobile dealers, auto finance partners and insurance companies. Bitauto offers subscription services via its SaaS platform, which provides web-based and mobile-based integrated digital marketing solutions to new car automobile dealers in China. The SaaS platform enables automobile dealer subscribers to create their own online showrooms, list pricing and promotional information, provide automobile dealer contact information, place advertisements and manage customer relationships to help them reach a broad set of purchase-minded customers and effectively market their automobiles to consumers online.

Bitauto’s transaction services business is primarily conducted by its controlled subsidiary, Yixin Group Limited (SEHK: 2858), a leading online automobile finance transaction platform in China, which provides transaction platform services as well as self-operated financing services.

Bitauto’s digital marketing solutions business provides automakers with one-stop digital marketing solutions, including website creation and maintenance, online public relations, online marketing campaigns, advertising agent services, big data applications and digital image creation.

For more information, please visit ir.bitauto.com.

Safe Harbor Statement

This press release contains statements that express the Company’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (the "Act"). These forward-looking statements can be identified by terminology such as "if," "will," "expected" and similar statements. Forward-looking statements involve inherent risks, uncertainties and assumptions. Risks, uncertainties and assumptions include: uncertainties as to how the Company’s shareholders will vote at the meeting of shareholders; the possibility that competing offers will be made; the possibility that financing may not be available; the possibility that various closing conditions for the transaction may not be satisfied or waived; and other risks and uncertainties discussed in documents filed with the SEC by the Company, as well as the Schedule 13E-3 transaction statement and the proxy statement filed by the Company. These forward-looking statements reflect the Company’s expectations as of the date of this press release. You should not rely upon these forward-looking statements as predictions of future events. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:
Suki Li
Bitauto Holdings Limited
Phone: +86-10-6849-2145
ir@bitauto.com

Philip Lisio
Foote Group
Phone: +86-10-8429-9544
bitauto@thefootegroup.com

Related Links :

http://ir.bitauto.com

PR Newswire

Frost & Sullivan Intelligent Mobility Summit 2020 to Spotlight Industry’s Digitally-driven Roadmap for Post-COVID Recovery, Resilience and Resurgence

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TOKYO, Nov. 5, 2020 — COVID-19 has affected the four cornerstones of connectivity, shared, electric and autonomous (C.A.S.E.) in the mobility industry, even as it continues to incubate new consumer behaviors, competitive responses, innovation strategies, and business models. The crisis has provided a massive impetus to digital initiatives across the mobility value chain. Stakeholders are accelerating digital transformation with innovative, digitally-driven business models and value-added services that will underpin the push towards a stronger, more resilient future.

Frost & Sullivan Intelligent Mobility Summit 2020 to Spotlight Industry’s Digitally-driven Roadmap for Post-COVID Recovery, Resilience and Resurgence
Frost & Sullivan Intelligent Mobility Summit 2020 to Spotlight Industry’s Digitally-driven Roadmap for Post-COVID Recovery, Resilience and Resurgence

To understand how digitization is reinventing the mobility landscape, the theme of this year’s Frost & Sullivan’s Intelligent Mobility Summit 2020 is "Intelligent Mobility: The Digital Acceleration".  The two-day online summit, scheduled to be held on November 24-25, 2020 will offer unique insights into the role of digital technologies in helping stakeholders, particularly across the Asia-Pacific region, navigate the new normal and shape the future of mobility in a post-COVID scenario.

To register your attendance at this premier, must-attend flagship Intelligent Mobility Summit, please visit: http://frost.ly/4su

This year’s complimentary event brings together Frost & Sullivan’s mobility experts and industry thought leaders, including Ashwani Gupta, Director, COO/CPO, Nissan Motor Co., Ltd.; Christopher Wehner, Managing Director, BMW Group Asia; Pras Ganesh, Project Executive Vice President, Toyota Daihatsu Engineering & Manufacturing Co., Ltd.; and. Juan Carbonell, Head of Solutions APAC, Moovit.

Panel discussions and industry presentations will focus on six thematic areas:

  • The Future of Connectivity
  • New Paradigms – New Business Models
  • Shared Mobility & Delivery on Demand Trends
  • Future of Electrification & Autonomous Driving
  • Digital Retailing in Automotive Industry
  • Future of Last Mile Delivery

As connectivity capabilities and services improve, the challenge will be to reconcile privacy and data security concerns with the need for more real-time vehicle information. Meanwhile, mobility companies will confront the dilemma of whether to adopt go-it-alone strategies or push for greater interoperability and open standards.

"New digitally empowered business models—usership-based, services-oriented or data monetization-driven, among them—are gaining momentum across the mobility value chain," notes Vivek Vaidya, Associate Partner and Senior Vice President, Mobility Practice, Asia Pacific, Frost & Sullivan. "Start-ups are upsetting traditional value chains, creating new use cases, and fostering novel ideas about value creation."

Participants in the hard hit shared mobility segment are evaluating new business approaches. For instance, several ride hailing, e-scooters, and e-hailing companies are repurposing their offerings by riding on the boom for last mile food and grocery deliveries.

Vehicle electrification and autonomy are long-term strategies that have remained largely insulated from the impacts of the pandemic.  Automakers are continuing to develop electric vehicle/ autonomous driving (EV/AD) platforms and architectures, while pushing forward on circular economy and innovating to zero practices.

Digital automotive retail has received a massive fillip during the pandemic. "Changing customer behaviors are compelling automakers to streamline the customer journey from vehicle purchase to delivery, and promote seamless access to contactless parts/services delivery and online retail finance," says Vaidya. "Simultaneously, evolving online-offline dynamics are altering dealership and distribution models."

Advances in enabling technologies are expanding the potential of urban air mobility (UAM) applications. Cargo drones are being spotlighted as last mile delivery solutions, while passenger UAM vehicles offer promise in resolving urban congestion woes. Continued innovation and regulatory oversight will be key to boosting market prospects.

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

Contact:
Melissa Tan
Corporate Communications
T: +65 6890 0926
E: melissa.tan@frost.com

http://ww2.frost.com

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PR Newswire

Passenger Vehicles in Latin America Will Host Next-gen Connected Services as Standard by 2025, says Frost & Sullivan

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Future growth in connected vehicles and services to be led by multimedia, infotainment, instrument panel, and HMI solutions

SANTA CLARA, Calif., Nov. 5, 2020 — Frost & Sullivan’s recent analysis, Connectivity Features Powering the Latin American Passenger Vehicles Market, 2020–2025, focuses on analyzing technologies and services that are and will be available in Brazil, Argentina, Colombia, Chile, and Peru. It forecasts that by 2025, connected services such as parking finder, real-time vehicle diagnostics, and onboard emergency alert systems would be standard fitment in passenger cars across all automotive OEMs in Latin America. The research reveals multimedia, infotainment, and instrument panels to be the key technologies leading the connectivity transformations in the region’s automotive industry, and identifies high-speed Internet, embedded modems, and human-machine interfaces (HMI) as the new focus areas for OEMs through 2025.

Passenger Vehicles in Latin America Will Host Next-gen Connected Services as Standard by 2025, says Frost & Sullivan
Passenger Vehicles in Latin America Will Host Next-gen Connected Services as Standard by 2025, says Frost & Sullivan

For further information on this analysis, please visit: http://frost.ly/4sr

"Automakers are no longer hardware manufacturers, but are evolving into technology companies, launching new products, technologies, services, and interfaces," said Guira Barretto, Intelligent MoSenior Consultant. "This new scenario is pushing OEMs to launch products and services much faster than before. Most of these solutions are in their initial stages of development. Each OEM can be observed following a different strategy for consolidation in this new market. A large number of multimedia and infotainment solutions are being launched initially in Brazil and Argentina, and later being deployed to other countries of Latin America."

Barretto added: "The next generation of connected services will use onboard internet as a key functionality to allow other connected services. It will enable OEMs to develop connected solutions that are not part of their business models, and partnerships with start-ups and marketplaces will drive robust and strong growth in this regard. OEMs and Tier-1 suppliers should utilize their capabilities to enhance and revamp their service offerings in short durations to increase consumer awareness and interest in the latest technology. Currently, Brazil is leading the connected services market in the region mainly due to the GM OnStar and other tests under development by Audi, Volkswagen, BMW and Ford."

In addition, OEMs and Tier-I manufacturers should follow these strategic recommendations to nurture growth:

  • User Experience: Partner with third-party AI-based assistants, build native intelligent assistants, or offer occupants multi-modal HMI interactions to transform user experience and reduce distractions.
  • Personalization: Develop solutions to improve communication with each of the occupants. Internet access inside the vehicle will be necessary to provide each passenger with a unique and personalized experience.
  • Connected Services: Develop new telematics data and solutions to improve the services offered. Acquiring or partnering with telematics service providers will be important to speed up the launch of these solutions.
  • Internet (4G/5G): Build strategic partnerships with telecom providers and communication module vendors to enhance on-road safety and provide data-rich in-vehicle services.
  • Multimedia, Infotainment, and Instrument Panel: Introduce improved multimedia and infotainment systems and instrument panels to attract and retain users. Larger screens with high-resolution graphics and air-gesture commands are some of the improvements that OEMs can offer.

Connectivity Features Powering the Latin American Passenger Vehicles Market, 2020–2025 is part of Frost & Sullivan’s global Automotive and Transportation Growth Partnership Service program.

About Frost & Sullivan

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

Connectivity Features Powering the Latin American Passenger Vehicles Market, 2020–2025
K454-18

Contact:
Francesca Valente
Global Corporate Communications
E: Francesca.Valente@frost.com
http://ww2.frost.com

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PR Newswire

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

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

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

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

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

For further information, please contact:

Jon André Løkke, CEO, +47 907 44 949

Kjell Christian Bjørnsen, CFO, +47 917 02 097

About Nel ASA | www.nelhydrogen.com

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

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

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PR Newswire

GAC MOTOR Recognized as Champion of J.D. Power Initial Quality Study for China Brand for Eight Consecutive Years

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GUANGZHOU, China, Nov. 1, 2020 — Recently, J.D. Power publicized its 2020 China Initial Quality Study (IQS) report, and as the third-party survey authority, it provides the customers with reliable reference for purchasing cars. In this report, GAC MOTOR is distinguished as the China brand champion for eight straight years, with its SUV model, GS3, and MPV model, GN6 respectively ranked first and second in their segments.

J.D. Power Publicized Initial Quality Study, GAC MOTOR Emerged as the China Brand Champion By its High Quality
J.D. Power Publicized Initial Quality Study, GAC MOTOR Emerged as the China Brand Champion By its High Quality

As one of the most professional and authoritative institutions for consumer insight and market research, J.D. Power is well-known for its independence and objectivity. The 2020 China Initial Quality Study (IQS) covers 241 models of 57 brands, identifies 218 issues of initial quality, and records 32,536 users’ feedback, showcasing brand trust and reliability.

Eight consecutive years of China brand champion have proven the stable and reliable GAC MOTOR quality, as recognized by the markets and authorities.

GAC MOTOR has always been strictly controlling vehicle quality and reliability on all aspects and improving each model’s elaborative designs. This year, GAC MOTOR has initiated the QDR project, i.e. high Quality, high Durability, and high Reliability, taking it as a comprehensive indicator for product quality and improved durability standards and quality, and consistently guarantees high quality for the customers.

The outstanding quality control and supply chain system equip each model with extraordinary quality. GS3 ranks first in the mini SUV segment in J.D. Power Initial Quality Research (IQS), with the product quality recognized by highly-regarded institutions. As one of the world’s best-selling stars, GS3 presents customers with a high-tech and high-quality mobility solution with its lordly and fashionable appearance, high-tech interior design, and comfortable driving and control experience widely favored by consumers from all over the world.

Another star model GN6 was recognized by J.D. Power and ranks second in the list of mid-size MPVs. Combining quality and fashion, capaciousness and comfort, intelligence, and safety, GN6 is a selected choice for high-end business reception and suitable for family leisure and caters to the diversified needs of consumers.

At present, GAC MOTOR has extended to 26 countries and regions worldwide, preliminarily built the sales and service networks. Despite the pandemic’s continued impact, GAC MOTOR has grown against the industrial trend and demonstrated strong momentum of steady development.

 

PR Newswire

MingZhu Logistics Holdings Limited Announces Partial Exercise of Underwriter’s Over-Allotment Option

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SHENZHEN, China, Oct. 31, 2020 — MingZhu Logistics Holdings Limited ("MingZhu" or the "Company") (NASDAQ: YGMZ), a China-based trucking services provider, today announced that ViewTrade Securities, Inc., who acted as the underwriter and sole book-runner of the Company’s underwritten initial public offering ("IPO"), has exercised the partial over-allotment option and purchased an additional 350,000 ordinary shares of the Company at the IPO price of $4.00 per share. As a result, the Company has raised $13,400,000 in gross proceeds, before underwriting discounts and commissions and offering expenses, through the issuance of a total of 3,350,000 common shares in the IPO.

A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission (SEC) on September 30, 2020. The offering of these securities was made only by means of a prospectus, forming a part of the registration statement. A copy of the final prospectus related to the offering may be obtained, when available, from ViewTrade Securities, via email: IB@Viewtrade.com or standard mail at ViewTrade Securities, 7280 W Palmetto Park Rd, #310, Boca Raton, FL 33433, Attn: Prospectus Department. In addition, a copy of the final prospectus relating to the offering may be obtained via the SEC’s website at www.sec.gov.

About MingZhu Logistics Holdings Limited

Founded in 2002 and Headquartered in Shenzhen, China, MingZhu is 3A-grade trucking services provider, offering both network density and broad geographic coverage to meet customers’ diverse transportation needs. The Company operates two regional terminals in Guangdong Province and Xinjiang Autonomous Region, respectively, with a mix of self-own fleets of tractors and trailers and subcontractors’ fleets. More information about MingZhu can be found at: www.szygmz.com/en/

About ViewTrade Securities Inc.

ViewTrade Securities Inc. ("ViewTrade Securities"), is a global provider of brokerage, investment banking, corporate, advisory and trading platform services.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the trucking services market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

At the Company:
Dennis Tan
Email: company@szygmz.com
Phone: (+86) 150-1854-1833

Investor Relations:
Sherry Zheng
Email: shunyu.zheng@weitian-ir.com
Phone: (+1) 718-213-7386

Related Links :

http://www.szygmz.com/en/

PR Newswire

Inspirations from the Global Leader: Getting to 100% Electric Delivery Vehicles

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A new report series from Rocky Mountain Institute brings new insights from Shenzhen–the global electric vehicle leader– on how to fully electrify urban delivery and logistics vehicles.

BEIJING, Oct. 30, 2020 — Today Rocky Mountain Institute (RMI) launched a six-volume report series which explores the experience of the City of Shenzhen, China in addressing carbon emissions and air pollution through the electrification of its urban freight sector. Shenzhen is leading the world in electric vehicle adoption and the details of how it is moving towards 100% electrification can provide lessons for cities around the world.

Utilization of a vehicle is one of the biggest determining factors to wider adoption of electric vehicles in fleet and logistics applications. This report series—Putting Electric Logistics Vehicles to Work in Shenzhen—focuses on understanding the policies, charging infrastructure, technology, and market development advances critical to achieving full utilization of electric logistics vehicles (ELVs).

This report series contains insights based on the lessons drawn from Shenzhen relevant to global leaders, including state and city governments, logistics delivery and retail goods industries, and the financial sector. The key insights from our work relevant to these leaders include:

  • Full logistics electrification is possible. Shenzhen’s experience shows that a rapid transition to the use of EVs in urban logistics is feasible and, with the proper policy framework, vehicle operators will rapidly electrify.
  • Policy must evolve as logistics electrification progresses. As the low-hanging fruit of logistics electrification is picked, policy makers must be prepared to pivot towards harder use cases. Being able to dynamically adjust policy to the needs of distinct market segments as they electrify is critical to success.
  • Growing an ELV fleet is a necessary but insufficient condition for logistics electrification. Policy makers often set EV targets in terms of share of sales or share of fleet. Getting EVs into the hands of operators is the first step in full logistics electrification. Cities must also ensure that ELVs are able to displace the use of fossil fuel vehicles.
  • Encourage innovation and entrepreneurialism in the supporting ecosystem. Cities and the financial sector can support innovation in multiple ways, including engaging with industry to support innovative pilots that support proof-of-concept for new approaches to logistics electrification.

To read the full report, visit RMI website at:
https://rmi.org/insight/putting-electric-logistics-vehicles-to-work-in-shenzhen/

 

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Financial Report July – September 2020

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STOCKHOLM, Oct. 23, 2020 —

Financial Summary – Q3’20

  • Net Sales and Cash flow were better than expected
  • Net Sales of $371 million declined by 20% including an Organic Sales1  decline of 7%
  • Active Safety Net Sales of $170 million declined by 5% including an Organic Sales decline of 9%
  • Operating Cash flow was positive $1 million, which includes positive timing effects in the quarter

Outlook

  • Net Sales are expected to return to organic growth during Q4’20 and outperform the global LVP during H2’20
  • Currency translation, net is expected to be slightly positive for FY’20
  • RD&E, net is expected to improve by more than $100 million from 2019 (on a comparable basis)
  • Operating loss is expected to improve from 2019 levels (on a comparable basis), and Cash flow before financing activities1 is now expected to be better than $(170) million for H2’20

Business  Highlights

  • Cash flow before financing activities tracking better than our previous expectations for FY’20
  • Veoneer and Qualcomm Technologies, Inc. announced their intent to collaborate on the delivery of ADAS, Collaborative and AD solutions powered by Veoneer’s next-generation perception and driving policy software stack and the Qualcomm® Snapdragon Ride™ ADAS/AD scalable portfolio of System on Chip (SoC), and Accelerators
  • Completed the divestiture of the VBS-US operations to ZF Friedrichshafen AG
  • Market Adjustment Initiatives (MAI) program continues to contribute to the improved operating loss and cash flow performance
  • Order intake is approximately $600 million during the LTM, where Active Safety is approximately two thirds of the LTM order intake

Comments from Jan Carlson, Chairman, President and CEO

Health and safety continue to be our first priorities and we are closely monitoring the development of the COVID-19 pandemic, which unfortunately shows signs of becoming more severe again, and we are staying ready to take the necessary safety precautions and business actions.

Vehicle production accelerated through the quarter, leading to a rapid increase in demand in the entire automotive supply chain, in a time when we are still fighting the effects of the global COVID-19 pandemic. In this challenging environment we executed a record number of activities including: successful vehicle launches, continued market adjustment initiatives, signing of a letter of intent with Qualcomm, finalizing the split of Zenuity and the divestment of our brake business. To summarize our underlying performance improved in almost all metrics. I am pleased with Veoneer’s operational performance in the third quarter and I would like to thank the entire Veoneer team for their focus, dedication and discipline during this highly unusual year.

Cash flow was particularly strong in the quarter and while it included certain timing effects it allows us to expect a better 2020 full year cash flow before financing than previously expected. Our market adjustment initiatives also continue to deliver the targeted improvements, we are establishing new levels of run- rate for cash flow and capital expenditures and continue to drive improvements in RD&E efficiency.

Our daily execution is the foundation that will allow our plans to materialize, and I am pleased that we are managing key launches well including the flagship Mercedes S-Class, the Subaru Levorg and the Volvo XC40 Electric. We are on track for additional fourth quarter and early 2021 launches. This development is fundamental to achieving our stated target to return to organic growth towards the later part of 2020. The selection by EuroNCAP of the Mercedes GLE as the best vehicle in its 2020 test for assisted driving, where most of the active safety content comes from Veoneer is another recent important technology proof-point.

The Qualcomm collaboration is important to Veoneer for multiple reasons. Technologically, it strengthens our capability to provide a full scalable system for the next generation ADAS and later autonomous driving. The combination of Veoneer’s software for perception and drive policy and Qualcomm’s powerful and energy efficient System On a Chip (SoC) will bring a competitive offer to the market for vehicle launches in 2024 and beyond. Commercially, the go-to-market strategy led by Qualcomm will allow for broader access to the market. We are well on track to finalize the initial agreement during the fourth quarter.

Our focus areas first outlined at the beginning of 2020 remain: successful customer launches in 2020 and heading into 2021, market adjustment initiatives to continue to drive efficiencies and improve cash flow, and continuing to win profitable new business.

An earnings conference call will be held today, Friday, October 23, 2020 at 15:00 CET. To follow the webcast or to obtain the phone number/pin code, please see www.veoneer.com. The slide deck will be available on our website prior to the earnings conference call. 1 For all Non-U.S. GAAP financial measures, see the reconciliation tables in this earnings release, including the Non-U.S. GAAP Financial Measures section and further discussion of the forward-looking Non-U.S. GAAP financial measures on page  11.

    
This report is information that Veoneer, Inc. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the EVP Communications and IR set out above, at 12:00 CET on Friday, October 23, 2020.

Contacts:

Thomas Jönsson – EVP Communications & IR, +46 8 527 762 27 or thomas.jonsson@veoneer.com
Ray Pekar – VP Investor Relations, +1 248 794 4537 or ray.pekar@veoneer.com. Inquiries – Company Corporate website www.veoneer.com

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