Category: Deals & Investment

InvesTech Holdings Enters into MoU with Huawei to Offer Cloud-based Enterprise Application Solutions

  • Expands Customer Base while Driving Core Business Growth

InvesTech Holdings Limited (InvesTech Holdings, together with its subsidiaries, the Group; HKG: 1087), a leading integrated smart-IT solutions provider in China, is pleased to announce that its subsidiary Wafer Systems (Asia) Limited (Wafer Systems), which owns smart-office software solutions flagship product Virsical, has entered into a memorandum of understanding (MoU) with Huawei Services (Hong Kong) Co., Limited (Huawei). Under the agreement, the two companies will collaborate strategically in the smart-office and cloud businesses to jointly offer enterprises digital transformation solutions.

Authorised representatives, Mr. Stephen CHOW, General Manager of Wafer Systems (Asia) Limited (second from left), and Ms. CAO Lingling, Managing Director of Huawei Cloud Business Department, Hong Kong (second from right), signed the MoU at Revive Tech Asia 2022. Mr. Ringo CHAN, Chairman, Chief Executive Officer and Executive Director of InvesTech Holdings (first from left), and Mr. Denny DENG, Chief Executive Officer of Huawei International Co. Limited (first from right) witnessed the signing.

Wafer Systems and Huawei signed the MoU on 24 August 2022 at Revive Tech Asia 2022, a technology conference and exhibition held at Hong Kong’s AsiaWorld-Expo. Under the MoU, the two companies will engage in in-depth collaboration in the form of an annual contract to explore the smart-office and cloud businesses for a three-year period spanning August 2022 to August 2025. Fully leveraging their advantage of resource aggregation, Wafer Systems and Huawei will join hands to launch two ground-breaking cloud-based enterprise application solutions – “AIoT-based Smart Building Digital-twin Solution” and “Huawei Cloud Digital Administrative Office Solution” – to empower clients in various industries undergoing digital transformation.

“AIoT-based Smart Building Digital-twin Solution” is a Virsical AIoT platform-centred, Huawei Cloud-powered system that collects and analyses information on people’s behaviour, terminal equipment and space status in a building by integrating building space management systems and various smart hardware and terminals, creating a digital platform that enables information collection, resource sharing and optimised management. It also enables digital management of enterprise operations including facilities management, energy-saving measures, emissions reduction, office services, monitoring and alarms, emergency services and information distribution. Using the system, enterprises are able to achieve intelligent collaboration involving people, objects and space, and realise the intelligent transformation of administrative management, to increase the efficiency of building operations and management, and to lower operating costs.

“Huawei Cloud Digital Administrative Office Solution” is a corporate digital twin smart-management platform built on the Huawei Cloud that utilises advanced technologies such as the Internet of Things (IoT). It is a platform for information collection, resource sharing and optimised management that enables real-time dynamic monitoring and control of equipment operations. The platform can be used in various scenarios involving corporate administration, including but not limited to workstation management, meeting management, visitor management, access management, smart-locker management, smart-washroom management and space asset management. It helps companies achieve intelligent management of people, objects and space, making real-time decision making more efficient and precise. It also assists companies in achieving the smart transformation of administrative management and conducting green and low-carbon operations in office buildings.

Mr. Ringo CHAN, Chairman, Chief Executive Officer and Executive Director of InvesTech Holdings, said: “It is our great honour to be highly regarded by, and to collaborate with, Huawei, one of the most outstanding technology giants in the industry. The MoU is expected to bring business synergies in terms of cloud-based enterprise application solutions and to facilitate product innovation so we can optimise our solutions to provide clients with better products and services. Through this strategic collaboration, we can reach Huawei’s customers, expanding our customer base and industry share in the high-potential Chinese market.”

“Looking forward, we foresee opportunities and collaborative efforts in many areas with Huawei in jointly exploring other types of cloud-based enterprise application solutions related to system integration – namely cloud migration, cloud security and cloud backup. To give full play to our complementary advantages, the Group will strive to deepen its partnership with Huawei, with the aim of optimising the Group’s core competences in the long run.”

About InvesTech Holdings Limited
InvesTech Holdings Limited (HKG: 1087) was listed on the main board of Hong Kong Stock Exchange in 2010. As a leading integrated smart IT solutions provider with more than 30 years of experience in IT industry, the Group is principally engaged in IT infrastructure system integration and smart office software solutions businesses. The Group has strong presence in China, with more than 10 offices nationwide with a research and development centre in Xi’an.

Website: http://www.investech-holdings.com/

InvesTech Holdings and Microsoft Jointly Launch Two Enterprise Digital Transformation Solutions

  • Facilitate Digital Transformation of Enterprises through
  • Giving Full Play to Advantage of Resource Aggregation

InvesTech Holdings Limited (InvesTech Holdings, together with its subsidiaries, the Group, HKG: 1087), a leading integrated smart IT solutions provider in China, is pleased to announce that its subsidiary Wafer Systems Limited (Wafer Systems), which owns the smart office software solutions flagship product Virsical, has started a new collaboration with Microsoft Corporation (Microsoft; NASDAQ: MSFT) in the field of the modern workplace, jointly offering enterprises with digital transformation solutions.

Jointly launching enterprise smart workspace solutions empowering the enterprises digital transformation
Wafer Systems and Microsoft joined hands to launch two distinctive enterprise solutions, namely “AIoT-based Smart Building Digital-twin Solution” and “Teams-based Digital Administrative Office Solution”, to empower clients from various industries to undergo digital transformation. The Group and Microsoft aspire to force disruptive innovation to the traditional manpower-based management model, with an aim of delivering groundbreaking solutions to enterprises.

As a digital administrative office solution, “AIoT-based Smart Building Digital-twin Solution” is Virsical AIoT platform-centred and Microsoft Azure-powered solution, which integrates building space management system and various smart hardware and terminals to collect and analyse information such as people’s behaviour, terminal equipment and space status in the building, for the formation of a digital platform where information collection, resource sharing and optimised management are enabled. It also realises digital management of enterprise operational scenarios encompassing facility management, energy saving and emission reduction, office services, monitoring and alarming, emergency services, and information distribution. It effectively helps enterprises achieve intelligent collaboration of people, objects and space, and realise the intelligent transformation of administrative management, thus enhancing the efficiency of building operation and management, as well as reducing operating costs.

“Teams-based Digital Administrative Office Solution” is a corporate digital-twin smart management platform that is built on the foundation of Microsoft Teams with the application of advanced technologies such as the Internet of Things (IoT). It forms a system platform with functions including information collection, resource sharing and optimised management, in order to realise real-time dynamic monitoring and control of equipment operations. The platform covers multiple areas of corporate administration, including workstation management, meeting management, visitor management, access management, smart locker management, smart washroom management and space asset management, etc. It helps corporates achieve the intelligent management of people, objects and space while improving the efficiency and precision of real-time decision-making. Meanwhile, it drives enterprises to attain smart transformation of administrative management and fulfil green and low-carbon operations in office buildings.

Leveraging its professional standards and capabilities, alongside industry-leading solutions, Wafer Systems is highly acclaimed by Microsoft and has become the only partner in China being awarded the “Microsoft Best IoT Partner of the Year”. Driven by the mutual recognition of capabilities and mission, Wafer Systems and Microsoft have deepened their partnership through intensive collaboration in various fields.

Forming strong alliance and strategically deepening collaboration in the field of smart office
In November 2021, with its cutting-edge research and development (R&D) capabilities and advanced solutions being highly recognised by Microsoft, the Group ranked first in Microsoft Teams Hackathon with “Virsical Automated Visitor Registration Solution”, and won the title of Microsoft Gold Partner in December 2021. In early 2022, Wafer Systems’ “Virsical AIoT Solution” officially entered Microsoft laboratory and was empowered by Microsoft laboratory’s technology and equipment. Bolstered by the full support of Microsoft experts and laboratory engineers, the Group has accelerated the implementation of Wafer Systems’ space management and facility management solutions in the new-generation building parks. Through the integration of the existing solutions by Microsoft AIoT services, subsequent costs for implementation are reduced. The entry facilitates the integration of Virsical and Microsoft in terms of AIoT solutions, thus promoting the incubation and implementation of more technical solutions while allowing the two parties to explore the high-potential AIoT field together. Currently, several Virsical software products, namely MetaVisitor, MetaWorkspace and MetaMeeting, were successively launched on Microsoft Teams, offering Microsoft Teams users a brand-new office experience. In addition, the Group has recently participated in Microsoft IoT Project Dragon, during which “Virsical Smart Space Solution” was announced as a key solution in the smart space field and successfully gain wide recognition in the industry.

By continuously strengthening and consolidating each other’s advantages, the Group and Microsoft have reached mutually beneficial cooperation. The two parties have also carried out holistic collaborations in various fields, to create interconnected and visualised smart office spaces spanning across scenarios including office spaces, buildings and parks, with a view to improving corporate efficiency and driving the digital transformation of the Group’s Fortune 500 clients.

Mr. Ringo CHAN, Chairman and Chief Executive Officer of InvesTech Holdings, said, “Capitalising on Microsoft’s outstanding technical capability and exhaustive list of product matrix, we are able to effectively optimise our solutions to provide clients with better products and services, thus expanding our market share in the promising Chinese market. As a Microsoft Gold Partner and a leader in the smart office industry, the Group expects to join hands with Microsoft to create smart space management solutions through leveraging technologies namely Microsoft Cloud’s IoT, digital-twin and AI technology, as well as fostering integration with applications and management systems in existing traditional headquarters buildings. In the future, to give full play to complementary advantages, the Group will deepen its partnership with Microsoft and establish in-depth cooperation in fields such as smart office, to jointly explore enterprise metaverse.”

Ms. YIN Bing, Director of Asia IoT Partner Business Unit of Microsoft, said, “We are pleased to collaborate with our outstanding partner Wafer Systems and jointly create innovative solutions. It is Microsoft’s mission to empower every person and every organisation on the planet to achieve more. Wafer Systems’ innovative smart office solutions work well with Microsoft’s industry-leading products such as Azure IoT and Teams, to provide enterprises with convenient tools for efficient management. Going forward, Microsoft will continue to support Wafer Systems in product innovation for the provision of industry-leading Microsoft platform-based solutions to more enterprise clients.”

About InvesTech Holdings Limited
InvesTech Holdings Limited (HKG: 1087) was listed on the main board of the Hong Kong Stock Exchange in 2010. As a leading integrated smart IT solutions provider with more than 30 years of experience in the IT industry, the Group is principally engaged in IT infrastructure system integration and smart office software solutions businesses. The Group has a strong presence in China, with more than 10 offices nationwide with a research and development centre in Xi’an.

Website: http://www.investech-holdings.com/

Breakthrough Cooperation of Legend Capital’s Cross-border Portfolio Companies: Innovent and Etana Jointly Announce the Approval of Bevagen by the BPOM

On June 14, two of Legend Capital‘s portfolio companies, Innovent Biologics, Inc. (Innovent) and PT Etana Biotechnologies Indonesia (Etana), jointly announced that the Indonesian Food and Drugs Authority (BPOM) had approved Bevagen (bevacizumab biosimilar), a recombinant humanized anti-VEGF monoclonal antibody drug for five indications including metastatic colorectal cancer (mCRC), metastatic triple negative breast cancer (mTNBC), advanced non-small cell lung cancer(NSCLC), ovarian cancer (OC), and cervical cancer(CC). Under the approval of the BPOM, Bevagen will potentially be the first Chinese antibody drug to be marketed and locally produced in Southeast Asia.

Dr. Michael Yu, Founder, Chairman and CEO of Innovent, said, “We are pleased that under the strategic collaboration with Etana, the approval of Bevagen in Indonesia marked a meaningful step toward bringing Innovent’s innovative portfolio into the global market, benefitting patients globally. Pairing Etana’s commercial expertise in the local Indonesian market with Bevagen’s clinical profile, high-quality production and relative affordability, we are confident that Bevagen will launch to the market quickly and benefit many cancer patients.”

Nathan Tirtana, President Director of Etana, said, “Etana appreciates the support of BPOM for approving Bevagen for cancer patients in Indonesia. With this product, we believe we can provide better access to high-quality and affordable biosimilar drug to meet the need of cancer patients in Indonesia. Our next step is to implement the technology transfer and local Bevagen production in Indonesia via collaboration with Innovent.”

Legend Capital has been looking for investment and partnership opportunities in the Southeast Asian market since 2019 and ultimately invested in Etana in 2020. By leveraging the advantages of the portfolio ecosystem, Legend Capital has played an active role in promoting the strategic cooperation between Innovent and Etana.

Mr. Frank Hong, Managing Director of Legend Capital, said, “Congratulations to Innovent and Etana for the approval of the first biosimilar in Indonesia. This milestone achievement demonstrates the feasibility of expanding Chinese innovative drugs market access into the emerging markets. The emerging markets along the Belt and Road have significant demand for pharmaceutical products and unmet clinical needs, Chinese innovative therapeutics are particularly well suited to the needs of patients in developing countries given their quality and affordable prices. Legend Capital will continue to explore investment opportunities in the emerging markets and actively pioneer the path for Chinese high-end biologics’ overseas expansion, facilitating the globalization of Chinese pharmaceutical companies.”

Mr. Fei Qi, Executive Director of Legend Capital, said, “The cross-border investment and industrial collaboration in the Southeast Asian market possess unique challenges: from policy regulation, folk culture to healthcare system complexity. Etana has set up a competitive barrier of ‘Access + Manufacturing + Commercialization’ in Southeast Asia, and Legend Capital complemented Etana’s key ‘Business Development’ ability by leveraging its healthcare portfolio ecosystem. Legend Capital has provided a series of value-add services in terms of company strategy, business cooperation and subsequent financing to Etana since its investment. Etana has approached and discussed collaboration initiatives with more than 10 Chinese biopharmaceutical companies and plans to introduce more therapeutics that Indonesia currently lacks, such as cancer monoclonal antibodies, COVID vaccines, and antiviral infection drugs. Through the joint efforts of Etana and its partners, we believe that the company will be able to provide high-quality and affordable Chinese innovative drugs to Indonesia, Southeast Asia and even the Islamic world.”

Legend Capital has been firmly positioned to invest systematically in the field of innovative medicine. Adhering to the investment philosophy of “Global Vision, Chinese Insights”, Legend Capital is looking for truly internationally competitive technologies and teams to solve the unmet clinical needs; many of its portfolio companies have been listed on A-share or H-share successfully, such as Kawin Technology (688687.SH), Innovent Biologics (01801.HK), Hbm (02142.HK), Recbio Technology (2179.HK). At the same time, we also made investments in segment-leading companies such as GluBio Pharmaceutical, Ribo Life Science, PegBio, Exegenesis Bio, Lynk Pharmaceuticals and Innostellar Biotherapeutics.

Blockpass, Lykke Partnership Integrates Zero Fees Exchange, Adds $PASS/USD

Blockpass is excited to announce that the long-standing association between Blockpass and cryptocurrency exchange Lykke will be strengthening. As the first step in this process, the PASS/ETH pair was delisted and replaced with the brand new opportunity of PASS/USD.

Blockpass is excited to announce that the long-standing association between Blockpass and cryptocurrency exchange Lykke will be strengthening. As the first step in this process, the PASS/ETH pair was delisted and replaced with the brand new opportunity of PASS/USD.

Lykke’s mission is to build a new ecosystem for the outdated finance industry by leveraging the power of the blockchain. As a cryptocurrency exchange, Lykke has drawn acclaim and attention with its incredible zero trading fees and tiny buy-sell spreads for high-frequency trading. Catering to all types of clients in B2C and B2B markets – retail, API, business and others – Lykke has been a key player in the cryptocurrency exchange scene since its Lykke Wallet Cryptocurrency Exchange was launched in 2015. With no trading fees, no crypto deposit fees or limits, no inactivity fee and a solid base of liquidity, Lykke has been going from strength to strength. The zero-fee policy even applies to trading with bots used for algorithmic trading. Through its marketplace, Lykke offers unique financial products and empowers both retail customers and financial institutions to invest with no intermediaries, low cost and ease of use.

Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC & AML SaaS that requires no integration and no setup cost. You can set up a service in minutes, test the service for free and start verifying and onboarding users. Currently, with more than 500,000 verified user identity profiles, Blockpass facilitates instant onboarding, and to date over 3,000 services have taken advantage of this opportunity to get access to users with reusable digital identity profiles.

“Our work with Lykke goes all the way back to 2017 when Lykke was one of the first exchanges to list PASS,” said Adam Vaziri, Blockpass CEO. “We’ve been looking forward to developing our relationship for a while and we’re excited to provide a more current pair listing for PASS at the same time.”

“We listed PASS back in 2017, inspired by the potential of the company and its vision. Since the beginning, we recognized the importance of KYC and AML compliance foreseeing the adoption of blockchain technology by masses and institutions. Since then, Blockpass has created a whole KYC ecosystem. We are excited to see this progress and happy to continue our collaboration,” said Richard Olsen, Lykke CEO.

Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations it has partnered with and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. The existential need for DeFi projects to be regulatory compliant and the recent integrations have led to a surge in interest for Blockpass’ On-chain KYC(TM) solution which promises to change the way blockchains enable compliance. Through its recent work with Animoca Brands, Blockpass is developing the ability to provide KYC where the delivery of the verification result is provably sent and shown on a blockchain without sharing the underlying data. This represents a significant step toward the future Blockpass hopes to bring about where identity verification can be proved without revealing any personal information at all.

About Blockpass
Blockpass, the pioneer of On-chain KYC(TM), is a fast, fully comprehensive KYC & AML screening software-as-a-service for blockchains, Crypto, Defi and other regulated industries. With Blockpass, you get an unmatched set of benefits for any compliance service that includes pay-as-you-go, no setup cost, no integration necessary, free testing, immediate launch and at the lowest cost. Blockpass’ KYC Connect(TM) platform enables businesses to select requirements for customer onboarding that can include ID authentication, face-matching, address checking, AML ongoing monitoring and/or screening of sanctions lists, politically exposed persons (PEP), and adverse media. Through Blockpass, end-users easily create a verified portable identity that they can control and re-use to onboard with any service instantly. By integrating with Chainlink Network – a decentralized oracle solution – last year, Blockpass introduced the first On-chain KYC(TM) solution that will service many blockchains in the years to come. Additionally, Blockpass’ partnership with Animoca Brands has demonstrated how verification and adherence to standards can be proved on a blockchain without revealing any underpinning data – a significant boon for verifying Animoca Brands’ NFT prize winners and a huge step towards securing the ecosystem of the Metaverse. The Blockpass App is available from the App Store and Google Play.

For more information and updates, please visit and sign up to the following:
Promotional video: https://youtu.be/SvO2cw3e-SI
Website: https://www.blockpass.org/
PASS Token home: https://www.passtoken.org/
Email: sales@blockpass.org

About Lykke
Lykke is an umbrella name for a group of fintech companies with headquarters in Switzerland and a subsidiary in the UK. The companies of the group operate on a B2B and B2P level and offer a wide range of products and services powered by blockchain technology. Lykke Core is a company based in the UK and running the Lykke Wallet zero-fee cryptocurrency exchange. The trading platform was launched in 2015 and since then has gained the reputation of a reliable and secure trading venue with optimal trading conditions: 20+ assets, tight spreads, solid liquidity and zero trading and bank deposit/withdrawal fees. These conditions are the same for all kinds of traders independent of the volume they produce. The mission of the company is to truly democratize finance by creating a level playing field where the laymen have the same conditions that the whales enjoy in traditional finance. To start trading with these conditions just visit the company’s website and get registered today. Apart from the cryptocurrency exchange, the group of companies produces and commercializes blockchain software solutions for governments and businesses, such as banks, financial service and product providers, and others. The role of Lykke Business, a Swiss entity within the group, is key in this aspect.

For more information please visit:
Lykke website: https://lykke.com
LB website: https://lykke-business.ch
Email: pr@lykke.com

TAOP Signs Memorandum of Understanding to Establish Cryptocurrency Mining Joint

Taoping Inc. (NASDAQ: TAOP, the Company or TAOP), a provider of blockchain technology and smart cloud services, today announces that its wholly-owned subsidiary Taoping Digital Assets (Asia) Limited (TDAA) and a Kazakhstan company Aral Petroleum Capital LLP (APC) have signed a memorandum of understanding (MOU) to establish a joint venture in Kazakhstan, of which TDAA and APC will own 51% and 49%, respectively. TDAA will control the board of directors of the joint venture.

APC is an oil and gas exploration and development company operating in Kazakhstan, a wholly-owned subsidiary of CaspianEnergy Inc. It holds an exclusive license which entitles it to explore and develop certain oil and gas properties known as the “North Block”, an area of 1,916 square km, and a production contract for the area known as “East Zhagabulak”. With a strong industry position and integration experience, APC is able to ensure high-quality utility-scale electricity supply at a low cost to the joint venture.

The joint venture plans to invest and build cryptocurrency mining sites with a total capacity of 100MW, the first stage construction of 30 MW is expected to complete within three to six months. TDAA will have the priority to deploy cryptocurrency mining machines owned by TDAA or its partners. The joint venture will carry out operation and maintenance of cryptocurrency mining machines in Kazakhstan. In addition, the joint venture plans to rent out excess operating capacity to third parties for additional income.

On April 15, 2021, the Company announced that it has signed a Bitcoin mining machine purchase agreement with Bitmain Technologies Limited for the purchase of Antminer S19j Pro Bitcoin mining machines with a total hash rate of 300,000 TH/s. TAOP plans to deliver these mining machines to Kazakhstan for deployment once the construction of the mining sites is completed.

“We continue to look for global opportunities that can bring business growth. With year-round cool temperatures, low real estate and labor costs, and relatively low energy prices, Kazakhstan is becoming a crypto mining hub that currently ranks 3rd in the world in terms of hash rate power,” said Mr. Jianghuai Lin, Chairman and CEO of TAOP, “We are working actively to capture current unique opportunity of the rapidly changing cryptocurrency mining environment to create value for shareholders.”

About Taoping Inc.
Taoping Inc. (TAOP) is an integrated group of technology and financial companies with business in Mainland China, Hong Kong, and other overseas countries. Relying on its unique strengths in cloud technology and chip supply chain, TAOP provides solutions and cloud services to industries such as film and television production, education, new media, artificial intelligence and asset management. The Company is dedicated to the research and application of blockchain technology as well as investment and management of financial assets at home and abroad. To learn more, please visit http://www.taop.com/.

Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Elegance Optical subscribes 50% of the enlarged issued share capital of the Target Company for China’s Yantai Liquefied Natural Gas (LNG) Terminal Project investment

Elegance Optical International Holdings Limited (The Company) is pleased to announce that Green Source Global Limited (the Subscriber), an indirect wholly-owned subsidiary of the Company, has entered into the agreement with H. Sterling LNG Terminal Holding Limited (Target Company) and the Existing Shareholder (Existing Shareholder), pursuant to which the Subscriber has conditionally agreed to subscribe for, and the Target Company has conditionally agreed to issue and allot, 10,000 subscription shares, representing 50% of the issued share capital of the Target Company as enlarged at the subscription price of RMB223 million, to be settled in cash (the Agreement).

Completion of the subscription shall take place on the 30th business day after all the conditions precedent under the Agreement having been fulfilled or waived (or such other date as the parties to the Agreement may agree).

Upon the completion, the Company will indirectly own 50% equity interest of the Target Company, representing approximately 10.5% equivalent interest in Yantai LNG Terminal Project Company of which 21.0% equivalent interest is held by the Target Company.

The directors of the Group are optimistic about the prospects of the Yantai LNG Terminal Project that its annual income is estimated at approximately RMB2.5 billion by the top management of the Group. The Yantai LNG Terminal Project is listed as 2021 China’s major project in Shandong Province and will be the 23rd LNG terminal in China. As of now, China has 22 LNG terminals, in which 15 of are owned and operated by government-owned enterprises.

The subscription is in line with the investment strategy of the Group and will allow the Group to diversify its income stream and investment portfolio. The Group will explore opportunities to cooperate on the whole value chain of the natural gas sector covering production, supply, storage and distribution, to further enhance the Company’s foundation in respect of international trade of liquefied natural gas.

Media inquiries:
New Smile Strategic IR & PR Consultancy Tel: +852 2126 7076
Jenny Lai jenny.lai@newsmilehk.com
Jenny Cheung jenny.cheung@newsmilehk.com

Notes to editors:

INFORMATION OF THE COMPANY
Elegance Optical International Holdings Limited is principally engaged in the manufacture and trading of optical frames and sunglasses, property investment, investment in debts and securities, film investment and distribution businesses and energy business. The Group refers to the Company and its subsidiaries.

INFORMATION OF EXISTING SHAREHOLDER AND THE TARGET COMPANY
The Existing Shareholder is Zheng Fang, a PRC resident and a merchant. The Target Company refers to H. Sterling LNG Terminal Holding Limited, an investment holding company incorporated in the British Virgin Islands with limited liability and is wholly-owned by the Existing Shareholder as at the date of the agreement.

INFORMATION OF THE SUBSCRIBER
Green Source Global Limited, a company incorporated in the British Virgin Islands with limited liability, is an indirect wholly-owned subsidiary of the Company.

INFORMATION OF YANTAI LNG TERMINAL PROJECT COMPANY
Yantai LNG Terminal Project Company is principally engaged in the gas operation, import and export of goods and technology and import and export agency services, and is a project company established to implement the Yantai LNG Terminal Project.

INFORMATION OF THE YANTAI LNG TERMINAL PROJECT
The Yantai LNG Terminal Project aims to invest in and construct the Liquefied Natural Gas Terminal in Yantai Port in Shandong. It is expected that the Yantai LNG Terminal Project will commence operation in 2023, and will have an operation period of 25 years. The Yantai LNG Terminal Project was formally approved by the National Development and Reform Commission of the PRC in January 2020, and is currently in the phase of port construction.

Legend Capital invests in Series A funding round of BioMap, a biological computing platform

BioMap, a biological computing platform enterprise, has recently completed the Series A funding round worth over a hundred million US dollars, which Legend Capital participated in. The funds will be used to for R&D and talent recruitment.

BioMap is positioned as an innovative medicine R&D platform driven by a biological computing engine. It was co-founded by Robin Li in November 2020 and he currently serves as the Chairman. Through advanced computing and biotechnology, BioMap draws maps on disease targets and drug design to realize the Global First-in-class original drugs. In the future, BioMap will also focus on the field of the immune mechanisms of tumors, autoimmune diseases and fibrotic diseases.

Richard Li, the President of Legend Capital, said: “It is our second cooperation with Baidu this year after the investment in Baidu’s AI chip unit Kunlun in March. We hope to continue to maintain close cooperation with Baidu in the field of scientific and technological innovation in the future. We take a positive long-term view of the integration of IT and life science and technology. BioMap empowers life science with AI, and accelerates the R&D of new drugs and diagnostic products through the integration and innovation of AI technology and cutting-edge biotechnology. In the future, Legend Capital hopes to realize the full potential of the advantages of our enterprise ecosystem in the field of healthcare, and promote BioMap’s cooperation with leading companies in related fields, so as to provide intelligent computing platform support for the healthcare industry, give impetus to industrial upgrading and benefit more patients. “

Legend Capital has been focusing resources to research the deep integration of the healthcare industry and technology. In recent years, it has continued to explore the field of medical AI. In addition to BioMap, Legend Capital has also invested in AI microbial pharmaceutical company Xbiome, AI innovative drug development platform StoneWise, AI medical image assisted diagnosis company Deepwise, Lunit, AI medical pathology diagnosis company Deep Informatics, gene big data company Genowis, AI medical chronic disease management system company Ayshealth Technology, etc.

JWD to acquire 20% stake in ESCO, sealing partnership with PSA

  • Becoming a major international shipping port operator, extending Multimodal Transportation
  • Partnering with fellow ESCO shareholder PSA Singapore, world’s largest terminal operator

JWD InfoLogistics PLC (JWD), specialized in ASEAN logistics and supply chain solutions, announces a major investment, when on July 23 it agreed to acquire a 20% stake in ESCO, a Thai shipping container port operator and supply chain operator, with PSA Singapore, the world’s largest port operator by equity-weighted throughput, as ESCO shareholder.

With the acquisition, JWD will become a major international container terminal operator at Laem Chabang Deep-Sea Port and inland container depot (ICD) service provider at Ladkrabang, increasing its capability for multimodal transportation services, by land, sea and rail.

JWD InfoLogistics (SET: JWD), ASEAN top specialist in supply chain solutions, will acquire up to 20% of ESCO, the operator of international container terminals at 3 locations within Thailand’s Laem Chabang deep-sea port.

Mr Charvanin Bunditkitsada, Executive Committee Chairman and CEO of JWD, said “This investment is in line with our 5-year strategic plan to increase capability for multimodal transportation services. On July 23, our Board of Directors authorized JWD Transport (Thailand) Company Limited, a subsidiary of JWD, to acquire 20% of the shares in Eastern Sea Laem Chabang Terminal (ESCO), a major international container terminal operator at Laem Chabang Deep-sea Port in Chonburi Province and an inland container depot (ICD) service provider at Ladkrabang. With the share acquisition, JWD also becomes a business partner of PSA, manager and operator of Singapore’s world-class transshipment hub, as PSA is also a shareholder in ESCO.

“We consider this significant investment a major undertaking this year, to be funded by the recent issuance of debentures as well as from operating cash flow. Initially, JWD Transport will take a 15% effective share in ESCO, with an option to increase to 20% within the next 6-12 months,” Mr Charvanin said.

ESCO currently operates international container terminals at 3 locations within the Laem Chabang Deep-Sea Port; i) ESCO (B3), where ESCO directly develops and manages a concession from the Port Authority of Thailand (PAT); ii) LCB1 (B1) terminal and iii) LCMT (A0) terminal, with ESCO a shareholder of the company that holds the concession to operate both terminals. In 2020, the three cargo terminals handled about 2 million twenty foot-equivalent units (TEUs), or 20% of the total throughput processed at the Laem Chabang Deep-Sea Port. The demand for services at the international container terminals is expected to grow continuously with the recovery of the world economy following improvements in the pandemic situation in the USA and Europe.

ESCO is also one of 6 inland container depot (ICD) service providers at Ladkrabang handling container traffic for various shipping lines not located within Laem Chabang Port, helping reduce lead time and transportation cost. Revenue is derived from the operation of the container yard and import and export warehouses, along with Customs clearance services, and furbishing and transporting containers by land and rail – which will increase opportunity for JWD’s freight business and offering additional services to users of Ladkrabang ICD Station.

“JWD expects to realize its share of capital gains from ESCO no later than October,” Mr Charvanin added. “The investment in ESCO will serve as an extension of our international freight port operations in Laem Chabang. With our stake in Transimex, a major logistics provider from Vietnam, incoming international shipping port service business will empower us to provide multimodal transportation services, connect a wide range of freight services including by car, rail, water, and increase the opportunity to expand our customer base from container port service and ICD Ladkrabang station service to provide a full range of logistics services.

“JWD is already providing multimodal transportation services, such as transportation and transfer of general cargo, vehicles, hazardous cargo and chemicals, the transportation of cargo from Bangkok to the international container terminal at Laem Chabang, the lifting and transport of containers by rail from the Northeast, from the Eastern Economic Community (EEC), as well as the industries from Rayong Province to Laem Chabang Port. Therefore, this investment will help to expand our customer base as well as both our Bangkok-to-Laem Chabang and ICD Ladkrabang-to-Laem Chabang transportation services. Also significant is the provision for using the cargo traffic data from Laem Chabang international port to further develop our logistics capabilities,” Mr. Charvanin concluded.

Visit: JWD InfoLogistics PLC (SET: JWD); Bloomberg: JWD.TB, Reuters: JWD.BK; https://jwd-group.com/en/.
Media: Yuttachai Praikanahok, MT Multimedia for JWD, T: +66 9 1736 2866, E: yuttachai.p@mtmultimedia.com

Adlai Nortye Raises $100 Million in Series D Financing, Co-led by SDIC Fund Management and Tigermed, participated by Legend Star, WuXi Biologics Healthcare Ventures

Adlai Nortye Ltd. (hereinafter referred to as Adlai Nortye), a global biopharmaceutical company focused on developing innovative oncology drugs, today announced the completion of $100 million Series D financing round. Co-led by SDIC Fund Management and Tigermed, this round of financing is participated by Legend Star, Wuxi Biologicals Healthcare Ventures, Triwise Capital, Qingdao Mukui, Guolian Industrial Investment, Tian Ge Interactive, etc. Proceeds from the financing will be used to accelerate the development of ongoing clinical and preclinical programs, expand drug portfolio through in-house R&D capability, in-licensing, mergers and acquisitions and other strategic collaborations.

“We intend to develop differentiated and innovative oncology drugs globally to address the unmet medical needs and aspire to transform deadly cancer into a chronic and eventually a curable disease,” said Carsten Lu, President and CEO of Adlai Nortye. “This round of financing represents an important milestone for Adlai Nortye, and we are honored to continue gaining support from our prestigious new and existing investors as Adlai Nortye has demonstrated a proven track record of delivering what we promised to the market and investors in the previous rounds. We are well-positioned to advance the development of our robust therapeutics pipeline and looking forward to bringing in more and more innovative treatments benefiting patients globally.”

“We have strong conviction in innovation and paying close attention to what is trending in the biopharmaceutical industry,” said Dazhong Lv, Managing Director of SDIC Fund Management. “Adlai Nortye’s strategic vision in global market, dedication to innovation in research and strong execution capability are what have been attracting us. We are pleased to have the opportunity to lead Adlai Nortye’s D round and look forward to the development of multiple first-in-class drugs from the company’s innovative pipeline globally and in China.”

Yan Leng, partner of Legend Star added, “Adlai Nortye is quickly emerging as a leader in the field of oncology and we are delighted to have invested in Adlai Nortye and provided support for the R&D of the company’s promising pipeline. Combining innovative research and advanced clinical assets with proven management experience, Adlai Nortye has built an exciting portfolio filled with opportunities. We are excited to join such an experienced and proven management team, an outstanding group of investors and top-tier pharmaceutical partners to advance the company’s pipeline products.”

About Adlai Nortye

Adlai Nortye is a global clinical-stage biopharmaceutical company focused on innovative oncology drugs, with its R&D and global clinical operation centers in both China and the United States. With a strategic emphasis on oncology, the Company has built a global pipeline through collaborations and internal discoveries with more than 10 drug candidates in development. Currently, four of them are being investigated in clinical trials. The FDA Fast Track-designated AN2025 (Buparlisib) is undergoing a global multicenter Phase III clinical trial. AN1004 (Pelareorep), an FDA Fast Track-designated intravenously-administered oncolytic virus, has completed a Phase II clinical trial. Oral EP4 antagonist AN0025 (Palupiprant) has completed Phase 1b trial in a neoadjuvant setting in locally advanced rectal cancer and is undergoing Phase 1b trial in combination with Keytruda in patients with multiple solid tumors. AN4005, the internally discovered oral small molecule PD-L1 inhibitor, is currently in Phase I clinical trial in the U.S.

The Company has assembled a world-class leadership team, built its unique immuno-oncology platforms, and established strategic collaborations with multiple global leading biopharmaceutical companies, such as Novartis, Merck, Eisai, Oncolytics Biotech, etc. Adlai Nortye is committed to becoming an innovative biopharmaceutical company with a global vision and strives to bring more effective treatments to patients in China and worldwide. The Company shoulders the mission of transforming cancer into a non-fatal disease or even a cure. For more information, please visit: www.adlainortye.com.

About SDIC Fund Management

Established in July 2009, SDIC Fund Management Corporation Limited is an independent, professional private equity company. It currently manages and advises more than RMB 50 billion of capital for a wide range of institutional investors including financial institutions, social security funds, and state-owned and private capital. SDIC Fund Management Corporation Limited is one of the largest professional private equity fund managers in China.

About Tigermed

Tigermed (Stock code: 300347.SZ/3347.HK) is a leading provider of innovative clinical research solutions across the full life cycle of biopharmaceutical and medical device products globally. With a broad portfolio of services and a promise of quality, from clinical development to commercialization, we are committed to moving our customers and patients through their development journey efficiently and cost-effectively. Tigermed currently represents a worldwide network of more than 60 subsidiaries and 150 offices and sites, with over 6,400 employees across 38 countries in Asia Pacific, Europe, North & South America and Africa. We are devoted to building an integrated platform that enables boundless possibility for the healthcare industry, embracing challenges to fulfill our commitment to serve unmet patients’ needs, and eventually saving lives.

About Legend Star

Founded in 2008 as an angel investor, Legend Star is managing 7 early-stage funds with a total commitment of up to RMB 3.5 billion. By the end of 2020, it has made about 300 new name investments in cutting-edge technology, TMT and healthcare / pharmaceutical sectors.

About Wuxi Biologics

WuXi Biologics (stock code: 2269.HK), a Hong Kong-listed company, is a leading global open-access biologics technology platform offering end-to-end solutions to empower organizations to discover, develop, and manufacture biologics from concept to commercial manufacturing. The company’s history and achievements demonstrate its commitment to providing a truly one-stop service offering and strong value proposition to its global clients.

The company is currently conducting (as of March 22, 2021) a total of 361 integrated projects: 190 in pre-clinical development; 137 in early-phase (phase I and II) clinical development; 32 in late-phase (phase III) development; and 2 in commercial manufacturing. With a total estimated capacity at around 430,000 liters for biopharmaceutical production planned by 2024 in China, Ireland, the U.S., Germany, and Singapore, WuXi Biologics will provide its biomanufacturing partners with an even more robust and premier-quality global supply chain network.

WuXi Biologics views Environmental, Social, and Governance (ESG) responsibilities as an integral component of its ethos and business strategy and has established an ESG committee led by the CEO to increase efficiency while advancing commitment to sustainability. For more information about WuXi Biologics, please visit: www.wuxibiologics.com.

MMC Corporation Berhad Chooses Ramco Systems to Digitally Transform Five Ports in Malaysia’s Single Largest Port Transformation Programme

Leading Malaysian utility and infrastructure conglomerate MMC Corporation Berhad (MMC) announced that it has embarked on a major digital transformation of five ports, in partnership with global software solutions leader, Ramco Systems.

Photo caption clockwise from top left: Dato’ Sri Che Khalib Mohamad Noh, Group Managing Director of MMC Corporation Berhad, Mr. P.R Venketrama Raja, Chairman of Ramco Systems Limited and Mr. Virender Aggarwal, Chief Executive Officer of Ramco Systems Limited during the virtual signing ceremony of Memorandum of Agreement on the Enterprise Resource Planning digital transformation.

The digital transformation will consolidate and standardize processes of MMC’s ports, which include Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), Johor Port Berhad, Northport (Malaysia) Bhd, Penang Port Sdn Bhd and Tanjung Bruas Port Sdn Bhd. The group-wide transformation was awarded based on the successful implementation of Ramco integrated Enterprise Resource Planning (ERP) system at one of Malaysia’s most advanced container terminal – PTP.

This technological transformation programme will propel Malaysia to the forefront of global best-in-class ports – which plays a crucial role in mitigating supply chain challenges, including recent disruptions due to COVID-19.

Building on an earlier implementation by Ramco Systems of an ERP system for PTP where about 90% of the system has achieved Go-Live in phases over the past 10 months, the enhanced rollout will digitalize processes, while providing real-time business information. MMC will also be able to consolidate various business support functions (namely Finance, Human Resource, Enterprise Asset Management, Supply Chain Management, and Logistics Management) across ports into a single integrated ERP system – all accessible on an integrated dashboard.

Over 8,000 MMC employees across the ports will be plugged into the platform on their computers/mobile devices which now eliminates duplication errors and other bottlenecks, allowing efficient business processes and enhanced data visibility.

The system will also include smart features such as Artificial Intelligence and Machine Learning (AI/ML), which will provide employees with greater insight as well as predictive alerts and chatbots which can reduce human error and save time. This will lay the foundation for MMC’s broader strategy to enhance the business experience to our customers and suppliers.

“The COVID-19 pandemic has pushed several trends into the spotlight, such as e-commerce and strengthening the supply chain. More than ever, we see the importance of ensuring our ports remain efficient and capable of quick turnaround, and we had been looking for a partner which could provide a scalable solution for all our ports.

With the support from Ramco Systems, MMC is committed to accelerating digital transformation that delivers efficiency, productivity and reliability within our ports to provide the best-in-class service for our customers. The implementation of a common system and integrated technology platform will further maximize synergies and allow all our ports to share expertise and benefit from economies of scale. We aim to leverage on technology as a key differentiator in order to gain a competitive edge and add value to our stakeholders,” said Dato’ Sri Che Khalib Mohamad Noh, Group Managing Director MMC Corporation Berhad.

P.R. Venketrama Raja, Chairman, Ramco Group, said, “It is a great honor to work alongside the MMC Group to help upgrade its ports. The partnership is a significant milestone in Ramco’s history; the implementation of Ramco’s systems will optimize operational efficiency at MMC Group, thereby translating into faster turnarounds at Malaysian ports and impacting Malaysian trade.”

“We at Ramco have established a strong Malaysian presence through our many years of engagements with multiple large conglomerates within the country, and this engagement was only possible through the hard work of the Ramco team in providing digital transformation to PTP. We look forward to working closely with the MMC team and am confident Ramco’s software will bring great value to MMC’s ports,” added Raja.

About MMC Corporation Berhad

MMC Corporation Berhad (“MMC”) is a leading utilities and infrastructure group with diversified businesses under four divisions, namely Ports and Logistics, Energy and Utilities, Engineering, and Industrial Development.

Its key businesses under the Ports and Logistics division includes the port operations of Pelabuhan Tanjung Pelepas Sdn Bhd, Johor Port Berhad, Northport (Malaysia) Bhd, Penang Port Sdn Bhd, Tanjung Bruas Port Sdn Bhd and Kontena Nasional Berhad, a logistics provider. Internationally, MMC has a presence in Saudi Arabia via Red Sea Gateway Terminal Company Limited, a container port terminal within the Jeddah Islamic Port.

Under the Energy and Utilities division, Malakoff Corporation Berhad is the largest Independent Power Producer in Malaysia and its subsidiary, Alam Flora Sdn Bhd, is one of the leading environmental management companies in the country. Under Gas Malaysia Berhad, we are the supplier of reticulated natural gas in Peninsular Malaysia operating and maintaining 2,468 kilometers of gas pipeline. Through Aliran Ihsan Resources Berhad, we provide full-fledge water services using high technology treatment in Malaysia.

MMC’s Engineering Division has played a leading role as the Project Delivery Partner and underground works package contractor in completing 51 kilometers Klang Valley Mass Rapid Transit (“KVMRT”) Kajang Line (previously known as Sungai Buloh-Kajang Line) including 9.5 kilometers underground works. Currently, we are the main turnkey contractor for 52.2 kilometers KVMRT Putrajaya Line (previously known as Sungai Buloh-Serdang-Putrajaya Line). MMC also successfully completed the 329-kilometer Ipoh-Padang Besar Electrified Double Tracking Project as well as the innovative Stormwater Management and Road Tunnel (“SMART”) motorway, the first of its kind, dual-purpose tunnel in the world. MMC is currently in the final stage of completing the Langat Centralised Sewerage Treatment Plant (920,000 Population Equivalent) and Langat 2 Water Treatment Plant (1,130 Million Litres Per Day).

MMC’s Industrial Development Division develops and manages approximately 5,000 acres of industrial developments namely Senai Airport City (“SAC”) and Tanjung Bin Industrial Park (“TBIP”) in Iskandar Malaysia, Johor and Northern Technocity (“NTC”) in Kulim Kedah. The SAC, TBIP and NTC developments come under the ambit of the Industrial Development division’s three operating companies – Senai Aiport City Sdn Bhd, Seaport Worldwide Sdn Bhd and Northern Technocity Sdn Bhd respectively.

In other business, through Senai Airport Terminal Services Sdn Bhd, we are the operator of Senai International Airport in Johor Bahru – the southern aviation hub and an important gateway to Iskandar Malaysia.

Inquiries: Please log on to www.mmc.com.my or call Azlina Ashar, Head of Group Corporate Communications, MMC Corporation Berhad, Tel: +603 2071 1124.

About Ramco Systems

Ramco is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, ERP and M&E MRO for Aviation. Part of the USD 1 billion Ramco Group, Ramco Systems focuses on Innovation and Culture to differentiate itself in the marketplace. On the Innovation front, Ramco has been focusing on moving towards Active ERP leveraging Artificial Intelligence and Machine Learning and Event-Driven Architecture by building features such as Talk It – which allows transactions to be carried out by simple voice commands, Bot it – which allows users to complete the transaction using natural conversations; Mail It – transact with the application by just sending an email; HUB It – one screen does it all concept built to address all activities of a user; Thumb It – mobility where the system presents users with the option to choose rather than type values and Prompt It – a cognitive ability which will let the system complete the transaction and prompts the user for approval.

With 1800+ employees spread across 24 offices, globally, Ramco follows a flat and open culture where employees are encouraged to share knowledge and grow. No Hierarchies, Cabin-less Offices, Respect work and not titles, among others, are what makes the team say, Thank God it’s Monday!

– Leader in NelsonHall’s NEAT Matrix for Next Gen Payroll Services
– Winner of 2020 ISG Paragon Awards Asia Pacific, for ‘Transformation’ and ‘Collaboration’
– Winner Global Payroll Transformation Project of the Year – 2019 by Global Payroll Association
– Positioned as Major Contender in Everest Group’s Multi-Country Payroll Platform PEAK Matrix

For more information, please visit http://www.ramco.com/
Follow Ramco on Twitter @ramcosystems and stay tuned to http://blogs.ramco.com

For further information, please contact:
Vinitha Ramani
+91-9840368048
vinitharamani@ramco.com