Author: Charles Chua

Three Garden Road Becomes First Existing Building Awarded with WELL Certification at Platinum Level in Hong Kong

Garden in the City Centre, the first large-scale outdoor staircase painting at Grade A commercial building in Hong Kong

Three Garden Road, one of the two landmark properties owned by Champion Real Estate Investment Trust (“Champion REIT”; stock code: 2778), has received WELL Core Certification at Platinum level under the WELL Building Standard by the International WELL Building InstituteTM (“IWBITM”), making it the first existing building in Hong Kong to score at the highest level of WELL certification.

Three Garden Road has fulfilled the WELL Platinum standard, including air, water, light, nourishment, movement, thermal comfort, sound, materials, mind and community. This recognition is a testament to Champion REIT’s commitment in enhancing people’s health and environmental preservation in our properties.

Ms. Ada Wong, Chief Executive Officer of Champion REIT, said, “We are very happy to achieve the first WELL Platinum rating among existing buildings in Hong Kong. While new buildings can be tailored in accordance with existing WELL guidelines, it is more challenging for buildings in use to obtain the certification as enhancement works are needed to meet WELL requirements. Thanks for the asset management team’s effort to make it happen.”

Mr Rick Fedrizzi, Chairman and CEO of IWBI, said, “Three Garden Road sets an example for many existing buildings in Hong Kong that WELL is achievable for all buildings. By achieving WELL Core Certification for the project, Champion REIT demonstrates its commitment to advancing health and well-being for its own employees, and all the people who work for and do business with the tenants inside the project.”

Three Garden Road – The First Existing Building with WELL Core Certification at Platinum level in Hong Kong:
– Embracing health in the design of public space through:
Natural connection of indoor and outdoor space – over 25% of exterior site area with natural elements
Gardening, exercise space and fitness centre to promote healthy lifestyle
Staircase painting and art pieces to create lively atmosphere
– Achieving excellent air quality with HKIAQ Certificate Excellent Class for 12 consecutive years
– Achieving satisfactory water quality with WSD Quality Water Scheme for nine consecutive years
– Providing shuttle bus for tenants to encourage the use of public transport
– “Champion Our Wellness” experiences, eg. mindful eating, trail run events and music performances

The first commercial building to pride displaying staircase art in Hong Kong:
The latest addition to Three Garden Road is an eye-catching work of staircase painting named Garden in the City Centre. To support local art development, Champion REIT invited Ms. Zue Chan, a young Hong Kong painting artist, to create this staircase art. On top of being a pleasant sight, the painted staircase carries our intent to encourage tenants to take the stairs for healthy life.

About Champion REIT (Stock code: 2778)
Champion Real Estate Investment Trust is a trust formed to own and invest in income producing office and retail properties. The Trust focuses on Grade-A commercial properties in prime locations. It currently offers investors direct exposure to 2.93 million sq. ft. of prime office and retail properties by way of two landmark properties, Three Garden Road and Langham Place, one on each side of the Victoria Harbour.
Website: www.championreit.com

Financial Reporting Amidst the Coronavirus Outbreak

The Hong Kong Institute of Directors (HKIoD) calls on listed company directors to faithfully discharge their duty as they tackle financial reporting tasks amidst the outbreak.

On 4 February, the Securities and Futures Commission and the Stock Exchange of Hong Kong issued a Joint Statement in relation to results announcements in light of travel restrictions related to the severe respiratory disease associated with a novel infectious agent.

The coronavirus outbreak will likely affect some issuers’ plan and progress in preparing financial information for their results announcements. Many of our fellow directors are facing a difficult situation.

HKIoD had the opportunity to have an in-depth joint discussion with teams from the SFC (led by Mr Brian Ho, Executive Director, Corporate Finance), the Stock Exchange (led by Ms Bonnie Y Chan, Head of Listing) and the Financial Reporting Council (led by Dr Kelvin Wong, Chairman). From the discussion, HKIoD gained some insights and has some comfort and assurance to bring to our fellow directors.

The very purpose of the Joint Statement is to keep as much as possible the orderly and continuous running of the Hong Kong financial market. A blanket delay for financial reporting can have serious detrimental effect on the credibility of the Hong Kong market.

Under the Joint Statement, an issuer’s board may have to release financial information before the auditor can perform work. Based on our understanding, however, the regulators are fully mindful that this is a difficult situation affecting many. Directors need not become too worried so long as they have faithfully performed and discharged their duties.

We have the following guidance and advice for directors.
Link: www.hkiod.com/document/7Feb2020_final.pdf

About The Hong Kong Institute of Directors
The Hong Kong Institute of Directors is Hong Kong’s premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. Website: http://www.hkiod.com.

For more News Releases & Responses to Public Issues by HKIoD, please visit: https://www.hkiod.com/newsrelease.html
.
Media Enquiries
Ms Moni Ching (+852 2889 1414; moni.ching@hkiod.com)

Tianyun International Prevents spread of Coronavirus, Ensures Staff Safety and Contributes to Fight Against the Epidemic

Tianyun International Holdings Limited (“Tianyun International”, together with its subsidiaries, the “Group”) (Stock code: 6836.HK), a leading seller and manufacturer of processed fruits products in China announced that in view of the latest development of the coronavirus outbreak, the Group has already done all the epidemic prevention and control, and safety measures for its factories in the PRC. The Group has also made donations and contributed to the fight against the epidemic.

As one of the leading food sellers and manufacturers in the PRC, safety has always been the top priority of the Group. The Group has paid high attention since the epidemic was evolved in the PRC in the early stage. The Group monitored closely the trend of the epidemic and swiftly set up an emergency leadership team to prevent and control the epidemic. The Group immediately issued notices to all staff, formulated emergency plans with details, coordinated among all levels of staff and assigned duties and responsibilities, and strictly implemented all the preventive and controlling measures. The Group has deployed detailed plans and arrangements, including production arrangement, salary payment, staff returning from home, factory security after festival, and job resumption after holiday.

After such an unfortunate event, the Group donated a total amount of materials of RMB300,000 to contribute to the fight against the epidemic. Meanwhile, the management of the Group focused on extending their regards and care to the people near one of our production sites in the Yichang city in the PRC and expressing sympathy to the all our staff located in the local area so that more positive messages regarding the epidemic control and prevention can be conveyed and staff morale can be strengthened.

Mr. Yang Ziyuan, Chairman and CEO of the Group, said, “No confirmed or suspected coronavirus case has been reported so far among all the company personnel and their family members of the Group. The Group will conscientiously fulfill its social responsibilities, and continue to support the epidemic prevention and control. The Group has high confident, and will work and unite with the country and all the people of the PRC to fight against and win this epidemic war.”

About Tianyun International Holding Limited (Stock Code: 6863.HK)
Tianyun International Holdings Limited (the “Company”) and its subsidiaries (collectively referred to as the “Group”) are principally engaged in (i) the production and sales of processed fruit packaged in metal containers, plastic cups, glass containers and aluminium foil bags ii) trading of fresh fruit. Processed fruit products are sold both under our own brands and on an OEM basis.

The Group has been consistently committed to provide healthy and safe products to its customers. As one of the food enterprises with the most complete quality certifications, we have always been dedicated to following stringent international production standards and are accredited with BRC (A), IFS Food (High), FDA, HALAL, SC, KOSHER, BSCI and ISO22000 in respect of our production facilities, quality control and management. The Group has also passed the internal food production standard reviews and audits from some of the UK and US supermarket chains. At the same time, within China, as a “Equal production line; Equal standard; Equal quality” food production and export enterprise, the Group has been supplying products of equivalent quality to domestic and international markets. Since 2016, the Group’s own brand processed fruit products have continued to obtain a high degree of market recognition, and have been awarded by a national institution the honour and qualification of “China Canned Product Quality Certification Label”, become the first fruit processor in China’s fruit processing industry to put the “Zero Added Preservative Canned Products” label for its products sold in China.

The Group was awarded 2017 China’s Most Promising Listed Companies by the internationally renowned financial magazine Forbes and became the only integrated food production and sales enterprise in Linyi City, Shandong Province, which was awarded the “2017 Linyi Mayor Quality Award”. The Group’s newly researched and developed pure fruit snack food also received the “Certificate of Invention Patent” from the State Intellectual Property Office of the People’s Republic of China in 2018.

For more information, please visit www.tianyuninternational.com

Jacobson Pharma Launches First Influenza/RSV Home Diagnostic Kit in Hong Kong and Macau

Jacobson Pharma Corporation Limited (“Jacobson Pharma” or the “Group”; Stock Code: 2633), a leading company engaged in research, development, production, marketing and sale of generic drugs and branded healthcare products, announced the launch of its first home diagnostic product for influenza/RSV under the brand name of “Dr. Freeman Flu/RSV Combo” (the “Product”) in Hong Kong and Macau since January 2020. The product is available in different over-the-counter channels including major healthcare chain stores and drug stores.

Dr. Freeman Flu/RSV Combo is a handy one-step home diagnostic test designed for qualitative determination of specific types of Influenza A and B virus and respiratory syncytial virus (“RSV”) with test results available in 8 minutes. The Product marks the first among others of its home diagnostic portfolio to be launched under the branded healthcare business platform of the Group. The Group is contemplating a potential strategic spin-off of its branded healthcare business which comprises proprietary medicines, proprietary Chinese medicines and branded health and wellness products such as health supplements, personal care products and diagnostic kits.

In scientific terms, Dr. Freeman Flu/RSV Combo uses monoclonal antibodies specific to the corresponding antigens of influenza and RSV for determination of the specific types of influenza and RSV infected, apart from the indication of the presence of influenza.

Mr Derek Sum, Chairman and Chief Executive Officer of Jacobson Pharma, commented, “We are very pleased for bringing in this useful home diagnostic product for influenza /RSV to the markets in Hong Kong and Macau. As a handy, speedy and specific self-diagnostic tool for the communicable disease, we believe the Product can highly benefit the public by helping influenza/RSV infected patients to seek prompt and effective medical treatment at the onset of the illnesses, especially during the peak flu seasons.

Bearing with the commitment to fulfilling unmet healthcare needs of consumers, we will continue to enhance our portfolio with high quality, innovative and well-trusted products in the expansion of our branded healthcare business as a strategic growth platform. Our ongoing efforts are set to strengthen our long-term strategic position and thereby enhancing the shareholders’ values.”.

About Jacobson Pharma Corporation Limited (Stock Code: 2633)
Jacobson Pharma is a leading generic drug company in Hong Kong. The Group’s proprietary brand portfolio, notably being Po Chai Pills, Ho Chai Kung Tji Thung San, Contractubex Scar Gel, Flying Eagle Wood Lok Medicated Oil, Tong Tai Chung Woodlok Oil, Doan’s Ointment, Saplingtan, Shiling Oil and Col-gan Tablet have been widely recognised by the market. The Group aims at the continued strategic enrichment of both of its generic drug and branded healthcare portfolios through the addition of high value-added products. With its corporate headquarters based in Hong Kong, the Group has also established its operating subsidiaries in China, Macau, Taiwan, Singapore and Cambodia forming a regional commercial platform to tap the market potential in the Asia Pacific and Greater China region. Jacobson Pharma has been a constituent stock of MSCI Hong Kong Micro Cap Index since 1 June 2017. For more details about Jacobson Pharma, please visit the Group’s website:
http://www.jacobsonpharma.com

For media enquiries, please contact:
Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk
Stephanie Liu Tel: (852) 2864 4852 Email: stephanie.liu@sprg.com.hk
Rachel Ko Tel: (852) 2864 4806 Email: rachel.ko@sprg.com.hk
Fax: (852) 2527 1196

Nissin Foods Forms Joint Venture Company to Strengthen Distribution Platform in PRC Market

Nissin Foods Company Limited (“Nissin Foods” or the “Company”; together with its subsidiaries, the “Group”, Stock code: 1475) has today announced that the Group and Ms. LIU Feng have signed a shareholders’ and cooperation agreement (the “Shareholders Agreement”) to form a joint venture company (the “JV”).

Mr. Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, “Formation of the JV is the Group’s latest initiative to diversify products and expand distribution channels in the PRC, and in the long run open new revenue streams for the Group. It will give us a stronger foothold in Shanghai, presenting us with long-term strategic value conducive to creating sustainable returns for our shareholders. It is also part of our localisation efforts to strengthen our presence and relevance in the PRC. In the way ahead, we will continue to look for opportunities in strategic partnerships or alliances, thereby fueling growth momentum.”

The JV, intended to be a holding company, will set up a PRC Wholly Foreign-Owned Enterprise (PRC WFOE). The main business of the JV and the PRC WFOE will be to import and sell a comprehensive range of Japanese brand food and beverage products in first-tier cities including Shanghai in the PRC. The two companies target to commence business by the second quarter this year.

The shareholding ratio of Nissin Foods and Ms. LIU Feng to the JV Company is 81% and 19% respectively. Nissin Foods will contribute approximately HKD18.6 million in cash, to be financed by internal resources, to the share capital of the company. Both the JV and the PRC WFOE will be subsidiaries of the Company, the results of which will be consolidated into the financial statements of the Group.

The JV will enable the Group to expand its distribution channels and provide more diversified products to satisfy the growing demand of customers in the PRC for Japanese brand food and beverage products. Serving as an enhanced distribution platform for the Group, the JV will also create synergies with the Group’s existing noodles business in the PRC, helping bolster revenue of the Group, as well as its overall competitiveness.

Furthermore, continuing with the Group’s long term development strategy of localising the senior management, Mr. YING Li Feng, Assistant Director of Nissin Foods (China) Holdings Co., Ltd., will be appointed Chairman of the PRC WFOE. Ms. LIU Feng will be appointed a director of the PRC WFOE. The Group believes such efforts will strengthen its knowledge of the PRC market and better prepare it for braving future market challenges.

For details of the partnership, please refer to the announcement:
http://tinyurl.com/t2gmynh

About Nissin Foods Company Limited
Nissin Foods Company Limited (The “Group”; Stock code: 1475) is a renowned food company in Hong Kong and the PRC with a diversified portfolio of well-known and highly popular brands and the largest instant noodle company in Hong Kong. The Group officially established its presence in Hong Kong in 1984. The Group primarily manufactures and sells instant noodles, frozen foods and other food products under its two core corporate brands, namely “NISSIN” and “DOLL” together with a diversified portfolio of iconic household premium food brands. The Group’s five flagship product brands, namely “Cup Noodles”, “Demae Iccho”, “Doll Instant Noodle”, “Doll Dim Sum” and “Fuku” are also among the most popular choices in their respective food product categories in Hong Kong. In the PRC market, the Group has introduced technology innovation through the “ECO Cup” concept into the market and primarily focuses its sales efforts in first- and second-tier cities located in the eastern and southern parts of the PRC. For more information, please visit www.nissingroup.com.hk.

About Ms. LIU Feng
Ms. LIU Feng is the founder of Dongfeng Group, which is established in 1994, and is currently serving as the general manager and director of Dachang Dongfeng Food (Shanghai) Co., Ltd.*, which is a renowned importer and wholesaler of Japanese brand food and beverage in Shanghai.

* For identification purpose only

For media enquiries:
Nissin Foods Company Limited
Public Relations Department
Blanche Wong / Ceci Leung
Email: pr@nissinfoods.com.hk

For investor enquiries:
Nissin Foods Company Limited
Investor Relations Department
Shingo Yamazaki / Peter Kwok
Email: ir@nissinfoods.com.hk

Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk
Tika Lum Tel: (852) 2864 4806 Email: tika.lum@sprg.com.hk
Cara Lau Tel: (852) 2864 4890 Email: cara.lau@sprg.com.hk

China New City (1321.HK) and Maggie & Rose Champion Quality Family Time

A group photo of Lang Lang (centre); his wife Gina Alice (3rd from the left); mother Zhou Xiulan (3rd from the right); Janice Wing Kam Choi (BBS MH JP), honorary consultant of the preparatory committee for An Enchanting Evening with Lang Lang (2nd from the left); chairwoman Kam Ling (1st from the left); Kam Wah Kum, co-chair for the dinner banquet and president (Greater China region) of Maggie & Rose (2nd from the right) and co-chair Cheung Wai (1st from the right).
Yang Yirui, Deputy Commissioner from the Office of the Commissioner of the Ministry of Foreign Affairs; his wife Wei Xin Canzan; and guests
Ms Regina Leung Tong Ching-yee, wife of Vice Chairperson of the National Committee of the CPPCC Leung Chun-ying (3rd from the right), and guests

On the evening of 18th January, Jaap’s Beethoven 1, a finale concert jointly performed by the Hong Kong Philharmonic Orchestra and world-renowned pianist Lang Lang and sponsored by Maggie and Rose Limited (Maggie & Rose The Family Members Club – hereinafter referred to as “Maggie & Rose”) – indirectly controlled by China New City Commercial Development Limited (“China New City” or the “Company”; Stock Code: 1321.HK), took place at the Hong Kong Cultural Centre’s Concert Hall. The sponsorship by Maggie & Rose, which advocates the education philosophy of ‘Learn Through Play’ highlights the company’s commitment to encouraging parent-child family time, spending quality time to learn and develop through music.

On the evening of 18th January, Jaap’s Beethoven 1, a finale concert jointly performed by the Hong Kong Philharmonic Orchestra and world-renowned pianist Lang Lang and sponsored by Maggie and Rose Limited (Maggie & Rose The Family Members Club – hereinafter referred to as “Maggie & Rose”) – indirectly controlled by China New City Commercial Development Limited (“China New City” or the “Company”; Stock Code: 1321.HK), took place at the Hong Kong Cultural Centre’s Concert Hall. The sponsorship by Maggie & Rose, which advocates the education philosophy of ‘Learn Through Play’ highlights the company’s commitment to encouraging parent-child family time, spending quality time to learn and develop through music.

The charity dinner ‘An Enchanting Evening with Lang Lang’, partially hosted by the Hong Kong Philharmonic Orchestra and with Maggie & Rose as the title sponsor, was held on the evening of the 17th of January. It was well attended by celebrities and stars including Lang Lang and his wife, personalities from the political and business sectors and others. The heart-warming and lively event saw Lang Lang perform with his wife to raise funds for the Hong Kong Philharmonic Orchestra, and a six-month membership with Maggie & Rose fetched over HK$100,000, making not only significant contributions to charity, but also further promoting Maggie & Rose’s vision of creating the world’s most trusted family members’ clubs.

Established in London in 2007, their British style family members clubs provide classes, activities and nurseries for children. It is owned by its subsidiary and operated under the UK brand Maggie & Rose, and provides private family members’ clubs for parents and children with an early years’ education programme.

In order to bring this British-led early years education concept, with an extensive history, into China, the Company and Maggie & Rose launched a cooperation agreement, officially signed at the signing ceremony on 24th November 2017. Their partnership combines the business experience and strengths of both parties, as well as the Company’s platform advantages as a listed company and long-standing real estate firm, which will be capitalised on in its future operations.

Honouring its promises, under the Company’s layout plans, Maggie & Rose’s Greater China business has in recent years seen long-term expansion. In November 2018, Maggie & Rose’s first club in Mainland China opened for business on the 2/F of Highlong Plaza, Xiaoshan District, Hangzhou. The company’s largest club globally, the highly sought-after club measures some 6,000 sq.m., is surrounded by plants and features a careful layout, full of family warmth and offering a home away from home feel. After 13 years in the UK and five years of localisation in the Hong Kong Chinese market, Maggie & Rose brings Hangzhou children the most refined British early education, a complete English learning environment and interactive teaching styles. The company seeks continuous improvement and allows children to learn through play, while parents have a fun joining in with their kids for family time.

In May 2019, the Company further acquired shares of Maggie & Rose and incorporated it into its consolidated financial report. In the Company’s bold attempts for new industries and asset-light transformation, Maggie & Rose gained a bigger stake in the Chinese market and gained recognition from Chinese families. From the opening up of the club in Xiaoshan District, Hangzhou to its first anniversary events, Maggie & Rose has attracted visits of more than 20,000 families and organised over 50 themed parties and experience events for Hangzhou families, creating high-quality family time.

On 27th October 2019, to allow parents and their children to experience a taste of British parent-child lifestyle, Maggie & Rose participated at the Shanghai Exhibition Centre’s widely anticipated Best of British exhibit. With fun-filled activities creating heart-warming parent-child time, it was a chance for family together time in a home away from home. In response to the families’ from Shanghai’s strong interest, Maggie & Rose will be landing soon in Shanghai. In Hong Kong, Maggie & Rose entered The Pulse in Repulse Bay in 2015 to offer a place for children to eat, play and learn; in 2018, the company increased its presence by opening up a club in Causeway Bay and received much acclaim from both celebrities and Hong Kong families; in Islington, London, Maggie & Rose opened its third club in the UK, which was fully subscribed even in advance of its official opening.

Music doesn’t only provide people with enjoyment, but it can also manifest a brand’s love of the arts. As a parent-child education brand, Maggie & Rose has always been committed to sharing the best of family lifestyle which create family memories for the whole world to enjoy. Maggie & Rose cares about the presence of parents during their child’s growth, as well as the impact of artistic enlightenment and musical education on children’s lives.

In a first for Maggie & Rose, they took part in a close collaboration with world-famous Chinese pianist Lang Lang. Maggie & Rose fully sponsored Jaap’s Beethoven 1 | Lang Lang, marking the 250th anniversary of Beethoven’s, in the hope of supporting the arts and promoting early musical education, so that more families and children could feel the positive impact of music and more communities will bring about artistic culture and atmosphere in their surroundings.

Through entering the family and children’s education sector, the Company fully achieves its corporate mission of “creating new urban life”. Going forward, the company will fully merge resources from its two brands in China and the UK and form joint ventures to create new markets in mainland China, Macau and Taiwan by opening more quality family clubs. The Company will also continue to actively bear its corporate social responsibilities and pay attention to the education sector to invest in the future of society.

About China New City Commercial Development Limited (Stock code: 1321)
China New City is a commercial property developer, owner and operator, with a focus on developing integrated commercial complexes in the Yangtze River Delta Region and other major economic regions. Our business is comprised of three main areas: (i) sale of properties; (ii) property leasing and property management; and (iii) hotel operation.

The Group will continue to explore and gradually achieve the development strategy of transforming into the light asset business-based operation, actively develop emerging industries like leisure tourism, healthcare services, cultural and entertainment and modern agriculture, achieve business model to meet the needs of people.

China Tonghai Financial is Honoured with Best Privatization at The Asset Triple A Country Awards 2019

Tonghai Financial is pleased to announce that China Tonghai Capital was presented with the Best Privatization at the The Asset Triple A Country Awards 2019 Dinner in recognition of its extraordinary achievements in financial services.

China Tonghai Capital was identified for the honor in a rigorous and extensive benchmarking process, it shows the Company is well appreciated by the industry and the capital market. Benny Chung, Chief Executive Officer of corporate finance was invited to receive the honour at the award ceremony, says “The awards honour Tonghai with significant recognition and encouragement. In pursuit of continuous excellence, China Tonghai Capital will keep up with providing high quality of financial services and take good care of every client’s needs. In the future, the Company will devote to engage sustainable and stable benefits, together we will drive China Tonghai Financial to the next level of growth.

The Asset’s annual Triple A recognition represents the prestigious awards for banking, finance, treasury and the capital markets. As the financial publishing group in Asia with the widest reach among Asian issuers and global institutional investors active in the region, The Asset takes particular care in producing its annual awards. Issuers and investors, who constitute the bulk of The Asset’s readership base, are consulted in the process either through the Asset Benchmark Surveys or in the course of the Triple A selection; their views and comments are taken into consideration and given weight in addition to the other selection criteria outlined in the rulebook.

About China Tonghai International Financial Limited
China Tonghai International Financial Limited (the “Company”, Stock Code: 00952.HK) is a Hong Kong-based financial services group which is listed on the Main Board of The Stock Exchange of Hong Kong Limited. The Company was publicly listed in Hong Kong in 1997 and joined the big family of Oceanwide Holdings Co., Ltd. (Stock Code: 000046.SZ) in 2017. Tonghai Financial is committed to building a comprehensive, full-licensed integrated financial platform. The core businesses of the Company are brokerage business, interest income business, corporate finance business, asset management business and investments and others businesses. The Company strives to become the ideal partner for both corporate and individual investors in Hong Kong and China. The Company also offers premier one-stop financial services to its clients. The Company continued to provide capital markets services through its representative office or the wholly-owned foreign enterprise in Shenzhen, Shanghai, Shenyang, Ningbo, Dalian, Beijing, Chengdu, Hangzhou and Xiamen of the PRC and through its networks of Global Alliance Partners network and Oaklins International.

For further information, please contact:
China Tonghai International Financial Limited – PR and Communications
Jane Chan Tel: (852) 2217-8888 Email: jane.chan@tonghaifinancial.com
Mandy Lo Tel: (852) 2217-2753 Email: mandy.lo@tonghaifinancial.com
Charlie Chan Tel: (852) 2217-2504 Email: charlie.chan@tonghaifinancial.com

Edvantage Group (0382.HK) Announces its Business Update for The Three Months Ended 30 November 2019

Edvantage Group Holdings Limited (“Edvantage Group” or the “Group”, stock code: 0382.HK) announces an update on certain latest unaudited financial and operational information, and business development of the Group for the three months ended 30 November 2019 (the “Period under Review”).

Business Update Highlights (for the three months ended 30 November 2019)
– The revenue of the Group amounted to approximately RMB210.9 million, representing a YOY increase of approximately 19.4%;
The gross profit of the Group amounted to approximately RMB104.3 million, representing a YOY increase of approximately 21.3%;
The gross profit margin increased by 0.8 percentage point to 49.5% as compared to the corresponding period of last year;
– The total number of student enrolments was 35,227, representing a YOY increase of 7.7%;
– The average tuition fees for student enrolments of Huashang College and Huashang Vocational College for the Period under Review were RMB24,671 and RMB15,617, representing a YOY increase of 13.3% and 3.5% respectively

During the Period under Review, the revenue of Edvantage Group amounted to approximately RMB210.9 million, representing a YOY increase of approximately 19.4%. The gross profit of the Group increased by 21.3% to approximately RMB104.3 million and the gross profit margin increased by 0.8 percentage point to 49.5% as compared to the corresponding period of last year. During the Period under Review, the total number of student enrolments of the Group was 35,227, representing a YOY increase of 7.7%. The total number of student enrolments of Huashang College Guangdong University of Finance & Economics (“Huashang College”) was 24,116, representing a YOY increase of 6.3%, and the total number of student enrolments of Guangzhou Huashang Vocational College (“Huashang Vocational College”) was 10,661, representing a YOY increase of 11.3%. Apart from an increase in student enrolments, the average tuition fees for student enrolments of the Group also recorded significant increase. The average tuition fees for student enrolments of Huashang College and Huashang Vocational College for the Period under Review were RMB24,671 and RMB15,617, representing a YOY increase of 13.3% and 3.5% respectively.

BUSINESS UPDATE

Core Business Update

Rooted in the Guangdong-Hong Kong-Macau Greater Bay Area, benefited from the favourable national policies, the Group adhere to the market demand by proactively adding majors and disciplines

As the largest private education group in the Guangdong-Hong Kong-Macau Greater Bay Area, Edvantage Group proactively grasp the national policy trends and provide the quality education resources for talents with the ambition to develop a career in the Greater Bay Area. During the Period under Review, Huashang College continued to see the business programmes as strategic focus(e.g. accounting, finance, economics and business English), and adhere to the market demands at the same time by adding 7 more majors including health services and management, data science and big data technology, business management, animation, public utility management, marketing (international class), tourism management (international class). The top 5 majors of Huashang College in terms of student enrolments of 2019/20 school year remains to be accounting, English, international economics and trade, financial engineering and Chinese literature. In addition, accounting and journalism of Huashang College were selected to be the distinguished college disciplines cultivation pilot of 2019 in Guangdong province. During the Period under Review, Huashang Vocational College’s majors increased to 34, with the new majors of big data technology and application, traditional chinese pharmacology, drug operation and management, TCM health care, early childhood education, pharmacy and math media art design.

The Group proactively enrich education resources, expand overseas and domestic school network, continuously consolidate its sizable students base

The new Sihui campus: To further expand the Group’s domestic campus network, Huashang College is constructing an approximately 533,300 sq. m new campus in Sihui of Zhaoqing, Guangdong Province, which will accommodate approximately 16,000 students. The Sihui campus is expected to commence operation in September 2020 with the enrolment of 3,000 students for the initial school year. It is expected that the total number of student enrolments will increase by 3,000 in each subsequent year.

The existing Zengcheng campus: The Group is building a Science & Technology Centre and an International Conference Centre at Zengcheng campus in Huashang College to improve the overall infrastructure of campuses in China and enhance the overall education quality, as well as to boost up the Group’s industry reputation. At present, Science & Technology Centre and International Conference Centre at Zengcheng campus are under construction as scheduled.

The new Singapore campus: Being the pioneer of overseas expansion, the Group continues to accelerate the global school network expansion besides the existing Global Business College of Australia (“GBCA”). During the Period under Review, the Group has acquired NYU Language School, which has been accredited as EduTrust by the Education Department of Singapore. NYU Language School provides long-term and short-term language training courses as well as preparatory courses for the admission of different schools in Singapore for local and overseas students. Moreover, the Group has established the Singapore campus based in the existing NYU Language School. Expected to commence operation in April 2020, the Singapore campus is situated in city centre with favourable geographical location and excellent accessibility. It is also in the vicinity of various universities, including the National University of Singapore and the Nanyang Academy of Fine Arts, which are accessible within a short period of time. In addition to the language preparatory courses, the new campus also provides undergraduate and college courses and start-up/training courses. It is qualified to offer internationally-recognised courses and accept local and overseas students in Singapore. The breakthrough of acquiring NYU Language School the Group made will allow the students of Huashang College and Huashang Vocational College from China to attend the new Singapore campus sooner. In addition, it will also optimize the education service quality of the Group and increase the learning resources available to the students.

Strategic positioning in the Greater Bay Area, enrich diversified education service and upgrade branding influence

New teaching venue in Shenzhen: As an education brand rooted in the Greater Bay Area, Edvantage Group proactively cultivate education resources in Shenzhen, a Greater Bay Area city known as a “Special Economic Zone” of China, an international metropolitan, the “Silicon Valley” in China and the Demonstration Pilot Zone. During the Period under Review, the Group set up a new teaching venue in Shenzhen for launching advanced courses on AI, big data, financial technology, etc. The new teaching venue is located in The Mixc Commercial Zone, Nanshan District, Shenzhen, and is expected to commence operation in April 2020. Edvantage Group accommodate the market’s thirst for high-end technology talents, and leverage on Shenzhen’s unique urban positioning in China, as well as its gigantic attraction for talents to actively enrich diversified education services and enhance the brand influence of Edvantage Group simultaneously.

Programme addition and improvement

Addition of College of Healthcare: To train healthcare professionals, establish a healthcare professional group covering healthcare services and management, the Group has established College of Healthcare in Huashang College and Huashang Vocational College. Its curriculum focuses on “cooperation with hospitals and corporates” and “school-enterprise cooperation.” The programs offered by College of Healthcare include healthcare services and management, Chinese herbs, cosmetics science and technology and health enhancement with traditional Chinese pharmacy. Approximately 150 students have been initially enrolled at the colleges of health for the 2019/20 school year. The Group has also set up a modern and synthetic Chinese herbarium, which combines education, scientific research and popular science.

The establishment of Southwest University of Political Science & Law Huashang College: The Group actively expand and improve the programs simultaneously. Huashang College and Southwest University of Political Science & Law has signed a cooperation agreement on 31 December 2019 in relation to the joint establishment of the Southwest University of Political Science & Law Huashang College to award double bachelor’s degree (Business+law) to enhance the level of recognition and the competitiveness of its graduates. The college plans to introduce the joint programmes in the year of 2020/21. It is expected that the tuition fees of joint programmes will be significantly higher than that of single subject programmes.

Vocational Education Training Business Update

Benefited from the provisional government policy on “1+X” certificate system, the business of vocational education training of the Group further grew, expected to become the new revenue growth factor

The business of vocational education training of the Group further grew under the provisional government policy on quality classification of vocational skills, i.e. “1 + X” certificate system, introduced for vocational colleges and technical training colleges. At present, relatively abundant certified vocational training courses have been introduced in Zengcheng campus, including CFA, junior accountant, computer science, teacher qualification certificate, CET 4, CET 6 and IELTS. Additionally, Zengcheng campus will see further development of the school of continuing education. It is expected that the contribution of revenue from continuing education in the school year of 2020/21 and beyond will be more significant. In addition to the operation of vocational education training, the Group will make use of its overseas teaching resources to introduce advanced vocational training for local and overseas students in its Shenzhen teaching centre in cooperation with Southwest University of Political Science & Law Huashang College. Looking forward, it is expected that the vocational training of the Group will have high growth and gross profit margin and will become a new revenue growth factor for the Group.

OUTLOOK

In recent years, benefited from the support of favourable national policies to the Greater Bay Area and its education industry, Edvanatge Group seized this golden opportunity and became the largest private higher education group in the area. The business progress in the first three months of financial year 2020 indicates that the average tuition fee of the Group’s students in the future will have the potential to increase. In addition to the planned expansion of the Sihui and Zengcheng campuses and the overseas school network, the Group is confident about its future business development. At the same time, the Group will put enormous efforts to develop vocational education training, which is currently credited to other revenue, and bring more value for the shareholders. In the future, Edvantage Group will make full use of its existing advantages, firmly grasp the opportunities arising from the development of the Greater Bay Area and continue to propel the development of the Group with internationalization and informatization.

About Edvantage Group Holdings Limited

Edvantage Group Holdings Limited (“Edvantage Group” or the “Group”, stock code: 0382.HK) is the largest private higher education group in the Guangdong-Hong Kong-Macau Greater Bay Area (in terms of total student enrolment of business majors for the 2017/2018 school year), and an early mover in education sector in pursuing international expansion. With a sizeable student base, the Company operates with economies of scale. In China, the Edvantage Group currently operates two private higher education institutions located in the Great Bay Area of Guangdong Province, China, namely Huashang College and Huashang Vocational College. Huashang College and Huashang Vocational College focus their programme offerings on business programmes, such as accounting, finance, economics and business English, and strive to help students to achieve employment prospects when they graduate, and to benefit from the availability of employment opportunities in the Greater Bay Area. The Company also operates a private vocational education institution named Global Business College of Australia (“GBCA”) authorized by ASQA in Australia, offering vocational education courses and non-formal short-term courses aiming to provide students with competitive advantages and global prospective.

The Group has also acquired NYU Language School, a local school in Singapore and has established the Singapore campus based in the existing NYU Language School. NYU Language School has been accredited as EduTrust by the Education Department of Singapore. The Singapore campus is expected to commence operation in April 2020. In addition to the language preparatory courses, the new campus also provides undergraduate and college courses and start-up/training courses. It is qualified to offer internationally-recognised courses and accept local and overseas students in Singapore.

IVD Medical wins “Most Valuable Medical and Pharmaceutical Stocks Company” and “Most Popular New IPO Company” titles at “Hong Kong Golden Stock Awards”

Mr. Leung King Sun, Executive Director & COO of IVD Medical, representing the Group to received two awards of “Most Valuable Medical and Pharmaceutical Stocks Company” and “Most Popular New IPO Company” at the 4th Annual Awards Ceremony of Hong Kong Golden Stock.

IVD Medical Holding Limited (“IVD Medical” or the “Group”), a leading distributor of In Vitro Diagnostic (“IVD”) products in the PRC, has won the “Most Valuable Medical and Pharmaceutical Stocks Company” and “Most Popular New IPO Company” titles at the 2019 “Fourth Hong Kong Golden Stocks Awards”, speaking again to the investor recognition the Group enjoys after it made constituent of the MSCI China All Shares Small Cap Index in November 2019, fully reflecting the wide recognition of the investment community for the Group.

The “Hong Kong Golden Stocks Awards” is jointly organized by two leading Hong Kong and US stock information platforms in Mainland China, namely Zhitongcaijing.com and 10jqka.com, to commend and honor Hong Kong-listed companies that have made significant contribution in various realms. In its fourth year, the Awards boasts in all over 100 million web views, reaching more than 60 million users, making it the largest and most professional grading event in the world for Hong Kong and US listed companies. It is also the “weathervane” for investors looking to invest in Hong Kong and US stocks of the best value and with the most growth potential in the year.

The “Most Valuable Medical and Pharmaceutical Stocks Company” award recognizes Hong Kong-listed medical and pharmaceutical companies with a healthy corporate governance structure, supreme industry position and well-doing core businesses, capable of offering investors sustainable and stable returns. As for the “Most Popular New IPO Company” award, it is presented to new listings in Hong Kong in 2019, which IPO exercise received exceptional market response and maintained popularity as a stock in the market, and showing strong development potential.

Since listed, with a diverse and competitive product portfolio, an extensive distribution network and wide hospital coverage, the Group has been able to seize development opportunities in the fast growing industry to steadily increase market share and profits. The Group delivered outstanding interim results in 2019 recording significant revenue and profit growth. The IVD market is expected to keep growing alongside the fast aging population, increase in per capita medical expense and technological advancement in recent years, which will translate into yet brighter prospects for the Group.

About IVD Medical Holding Limited
IVD Medical Holding Limited (“IVD Medical” or the “Group”) is a leading distributor of IVD products in the PRC. Its key subsidiaries include Vastec Medical Limited, Dacheng Medical Equipments (Shanghai) Co., Ltd., IVD China Limited and Suzhou DiagVita Biotechnology Co., Ltd. The Group’s distribution network covers 29 provinces, municipalities and autonomous regions across the PRC. It is the sole national distributor of Sysmex’ haemostasis products in the PRC and provides maintenance services to its end customers. It also engages in the R&D, manufacturing and sales of self-branded IVD analysers and reagents and provides solution services to clinical laboratories of hospitals for centralised procurement.

Media Enquiries:
Strategic Financial Relations Limited
Heidi So Tel: (852) 2864 4826 Email: heidi.so@sprg.com.hk
Elaine Wang Tel: (852) 2114 2821 Email: elaine.wang@sprg.com.hk
Yan Li Tel: (852) 2114 4320 Email: yan.li@sprg.com.hk
Fax: (852) 2527 1196

Shares of Kwan Yong Holdings Limited Commence Trading on The Main Board of The Stock Exchange of Hong Kong

Kwan Yong Holdings Limited (“Kwan Yong” or the “Group”), a main contractor in the provision of building construction works in Singapore has commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) today under the stock code 9998.

Board of Directors (From left to right): Dr. Wu Dongqing-Independent Non-executive Director; Mr. Koh Lian Huat-Independent Non-executive Director; Ms. Kwan Shu Ming-Executive Director; Ms. Tay Yen Hua-Executive Director; Mr. Kwan Mei Kam-Executive Director, CEO and Chairman; Mr. Jacob Wong San Ta-Executive Director; Mr. Lim Ah Lay-Non-executive Director

About Kwan Yong Holdings Limited
Kwan Yong Holdings Limited is a main contractor in the provision of building construction works in Singapore which is known for quality of work, especially in building construction works for the public sector. According to Ipsos Report, the Group ranked fourth among contractors in the institutional sector in Singapore in terms of the average institution CONQUAS score in 2018. It has more than 30 years of experience in building construction works for various types of buildings including institutional buildings, commercial buildings as well as industrial and residential buildings which can be categorized into (i) new construction and (ii) A&A works.