Category: Finance

ShineGlobal Social Networking Market Report 2022: ByteDance, Match Group, Newborn Town & More Lead Industry Trends

Social networking establishes the connection and interaction between people. Entering the Internet era, social networking products bring everyone closer to each other. For Internet companies, social networking products are closest to people and can build an infinite commercialization derivative space based on the relationship chain, which is why this business looks both sexy and real.

Recently, ShineGlobal, a global industry think tank, released the “Global Audio and Video Social Networking Market Report 2022” which provides a detailed overview of the global audio and video social networking market size, market segmentation in 2022, and the industry development trends in 2023.

After the epidemic, audio and video social networking has undoubtedly become the most popular product format in the sector, and more and more developers are eager to have a try. In addition to TikTok, a short-video app that has successfully achieved globalization in recent years, audio and video social apps such as Match Group’s Azar, Joyy’s Bigo Live, and NewbornTown’s MICO have gradually become the main force of globalization.

1. Audio and Video Social Networking Has Become the “Rigid Demand” for Users Around the World
In 2022, although our offline activities gradually restored, the online life is still a major trend, and people continue to migrate their life scenes from offline to online. Social networking, as an indispensable part of people’s daily life, has maintained a rapid growth. Currently, most social networking products on the market have incorporated audio or video features with strong immersion, making users, especially the young, more dependent on these products.

According to Frost & Sullivan’s forecast, the global social media market size is expected to grow at a CAGR of 15.1% from 2021 to 2024, with a CAGR of 27.6% for video social market size and 25.8% for audio social market size. The growth rate of audio and video social far exceeds the overall growth rate of online social market. It is expected that by 2024, the overall size of the global social media market will reach US$300 billion, of which the audio and video social market size is US$181.3 billion. Video social is expected to reach US$128.7 billion, accounting for 42.8%; audio social is expected to reach US$52.6 billion, accounting for 17.5%.

Currently, the normalization of the epidemic has driven a high increase in users’ time spent on social media in almost every country and region. In social apps, there is an average of 325% year-over-year growth in usage time per user. This trend is also reflected in the number of downloads. According to Branch, downloads of social apps saw rapid growth at the beginning of the outbreak, and maintained a stable trend afterwards.

In terms of market performance, global audio and video social app downloads are mainly from countries such as India, the US, Brazil, and Indonesia, while users from countries in the Middle East, Africa, and other emerging markets are embracing audio and video social products most rapidly.

In addition, the Report lists in detail the mega apps and established apps in each segment of the audio and video social networking, as well as products that have achieved rapid growth since 2022. For example, in “Sociality + Live streaming”, Bigo Live and MICO are at the top. In “Sociality + Voice Call”, Litmatch has grown rapidly in the past year, and its cumulative downloads exceeded 45 million in the first 10 months of 2022. In “Sociality + Game”, WePlay is recognized as the product that has rapidly captured the hearts of young users in many markets around the world in the past year.

2. ByteDance, Match Group, NewbornTown and Joyy Group Have Stepped Out of Various Successful Routes
It’s easy to get a social app to gain the favor of a group of people, but it’s tough to get it popular in multiple countries around the world and become an integral part of their social entertainment lives. Gaining a firm foothold in multiple regions and developing into a global social product cannot be achieved without innovative product ideas and mature operation methods. ByteDance, Match Group, NewbornTown, and Joyy Group have been able to stand out from the fierce competition by putting on unique “armor” for their products.

ByteDance: Copying + Localization
We can say, the most successful global social product in recent years is TikTok. In the harsh international environment, its global monthly active users exceed 1.5 billion, making it not only the fifth largest social app in the world, but also overturn the landscape of online video social networking. In the US and UK, the average monthly usage time of the app has exceeded that of YouTube, affecting the entire mobile ecological landscape and stimulating the rise of a number of short-video platforms, such as India’s MX TakaTak and Moj, both of which were ranked in the top 10 apps with breakthrough in downloads by data.ai. Today, ByteDance has made TikTok a threat to YouTube, Snapchat and Instagram.

TikTok has leveraged some of the strategies that have proven successful in China. Previously, Douyin, the Chinese version of TikTok, gained traction by using “hashtag challenges,” such as its partnership with Haidilao Hot Pot to call on users to create their own hot pot recipes. Such regular region-specific events proved to be a sustainable strategy for user growth. In the US, TikTok partnered with famous American host Jimmy Fallon’s hit show to launch the “#TumbleweedChallenge”, which brought TikTok great exposure.

In terms of market selection, the first phase of TikTok’s globalization layout chose to be in Japan, South Korea and Southeast Asia. Zhang Yiming, the founder of ByteDance, believes that Japan is a market where overseas products are not accepted easily, so Japan can be a litmus test for globalization to some extent. If Japanese users can accept a product, then users in Southeast Asia and other Asian countries can also accept it.

In August 2017, TikTok landed in Japan and set up its first overseas office there. In just three months, TikTok reached the first place in the list of free apps in App Store in Japan, and then topped the same list in Thailand in January 2018. Subsequently, TikTok could be found in the top 10 most-downloaded apps in many Southeast Asian countries. Then, TikTok directly began to expand into the North American market, and gradually expanded from North America to other markets.

TikTok’s success is also based on its understanding of local users. ByteDance has adopted a polycentric-oriented strategy when expanding to different markets at the same time. The reason is obvious: The algorithm-driven product model is applicable and standard, but video content is not, so ByteDance set up subsidiaries in different countries to make TikTok better localized and launched different versions of TikTok to users.

NewbornTown: Brand Marketing Based on Local Conditions
NewbornTown also made localized development as its competitive advantage. It has been on the road to globalization since 2013 and has built a mature and replicable system for globalized operations, enabling its products to land quickly in key markets and grow efficiently with localization. In the past year, the company has further rooted itself in regional markets and continued to deepen its localized operations.

To expand its brand presence in different countries and regions, and to make users not feel that they are using a foreign product, MICO, NewbornTown’s live-streaming social app, is conducting brand marketing campaigns in different markets to suit local cultures and customs.

In the US, MICO provided a platform for local rap fans to show themselves, shooting music videos for contest winners; in Japan, MICO held joint events with local soccer clubs; in Thailand and Vietnam, MICO joined hands with famous local musicians to create theme songs and shoot music videos, which have created a wave of discussion in local social media; in the Middle East, MICO held industry media gatherings and creators’ conferences, to promote a positive perception of the online social entertainment industry in the local community, and promote the development of the industry in the Middle East.

Today, MICO is the head live-streaming social product in the Middle East and Southeast Asia, and is rapidly expanding in North America, Japan and South Korea. Through a mature and replicable globalized operation system, NewbornTown’s customer acquisition efficiency and operation efficiency have been continuously improved, and it has surged in the global social market.

Match Group: Acquisition After Acquisition
Match Group, a global dating giant, is the parent company of Tinder. After launching Tinder in 2012, Match Group has acquired a number of dating apps such as Meetic, Plenty of Fish and Hinge. In 2021, Match Group acquired Hyperconnect, a Korean social media company, for US$1.73 billion, which was Match Group’s largest acquisition to date.

Hyperconnect’s core product is Azar, which has grown to become the highest-grossing one-on-one video social app in the world. According to Match Group’s CEO Shar Duby, 75% of Hyperconnect’s revenue and users come from Asia, just to complete Match Group’s regional strategic footprint.

In addition to complementing the markets, Match Group is also looking at its “live video” technology. Previously, Match Group’s apps were still based on profile matching and swipe-matching, and this acquisition may be more of a complement of product type.

It can be said that Match Group is a dating company that grew up by self-operation and acquisition at the same time. Through self-development + acquisition along the way, Match Group is now a huge dating empire with dozens of dating products such as Tinder, Match, Hinge, Meetic, OkCupid, Pairs, Plenty Of Fish, OurTime, Azar, The League, and others.

Joyy Group: Cost Reducing and Efficiency Enhancement, Back to the Essence of Business
In the midst of the overall global economic downturn and the decline in users and revenue of online products, the audio and video social industry continues to grow. However, in 2022, the user growth rate of many audio and video social products declined, and one of the reasons for this phenomenon is that many companies cut costs and increased efficiency, greatly reducing their investment in marketing.

In this regard, several practitioners expressed the same view. Most of them believe that in 2022 many social companies reduced costs and increased efficiency, returning to the essence of business. The person in charge of an audio technology service provider said that since the last year, with the increasing cost of customer acquisition, many products have shifted from the pursuit of user growth to the pursuit of revenue generated by users, focusing more on cash flow.

Take BIGO, the global business of Joyy Group, as an example, in the second quarter of 2021, BIGO’s revenue reached US$598 million, with total costs + expenses of US$570 million and adjusted net profit of US$19.44 million, an adjusted net margin of 3.3%. In the second quarter of 2022, BIGO’s revenue reached US$503 million, with total costs + expenses of US$445 million. However, its adjusted net profit reached US$86.3 million, with an adjusted net margin of 17.2%. It is widely believed that cost reduction and efficiency enhancement is one of the reasons for the steady growth of BIGO’s earnings.

To conclude, many social industry practitioners believe that the product format of “Sociality + X” and products focusing on a certain vertical group will have more opportunities for development, and it will be difficult to see the competitive pattern of one single player getting dominance.

We still believe that there will be a lot of globalized social products in the future, and we are all looking forward to the birth of the next “TikTok”.

For further information, please contact:
PEANUT MEDIA LIMITED
Direct Line: +86-755-61619798 x8210
Email: hswh.project@czgmcn.com

Fosun Receives RMB12 Billion Syndicated Loan to Consolidate Capital for Business Development

On 16 January 2023, Fosun High Technology, the domestic operating entity of Fosun International Limited (Fosun International, HKG: 0656), and eight domestic banks held a syndicated loan signing ceremony at the Bund Finance Center, Shanghai. According to the agreement, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications as joint lead banks, and China Minsheng Bank, the Export-Import Bank of China, and Shanghai Pudong Development Bank, and as participating banks will jointly form a syndicate to provide Fosun High Technology a loan totaling RMB12 billion.

It is reported that this is the largest private enterprise loan led by five major state-owned banks in cooperation with policy banks and joint-stock banks since the Central Economic Work Conference explicitly proposed in mid-December last year to encourage and support the development of the private economy and private enterprises.

The market is generally in the view that the syndicated loan is not only of great significance to Fosun, but it also plays a positive role in improving public expectations and boosting confidence for development for private enterprises in Shanghai and even the entire country.

According to the Company’s official release, Guo Guangchang, Chairman of Fosun International said that this signing has further deepened the cooperation between Fosun and banks, broadened financing channels, and consolidated liquidity support for business development.

Before the RMB12 billion syndicated loan was officially completed, on 13 January, Fosun High Technology successfully completed bookbuilding for the RMB1 billion super & short-term commercial paper “23 Fosun High Technology SCP001” with a term of 180 days and a coupon rate of 6.99% per annum. The super & short-term commercial paper is Fosun High Technology’s first issuance since its return to the public market at the end of April 2022.

Market analyst pointed out that the successful issuance of the super & short-term commercial paper and the smooth completion of more than RMB10 billion syndicates loan reflect financial institutions and investors’ confidence in the stabilization of Fosun’s capital and their endorsement of Fosun’s strategy of streamlining the organization and focusing on its core businesses.

Over the past six months or so, Fosun’s series of divestment actions in the capital market have gained widespread attention. During the period, companies under Fosun significantly reduced their shareholdings in Nanjing Iron and Steel United, Jianlong, Zhaojin Mining, Tsingtao Brewery, Jinhui Liquor, Zhongshan Public Utilities, Sanyuan, and COFCO Engineering & Technology. According to incomplete statistics, Fosun’s accumulative return of capital has reached tens of billions of yuan. In addition to this syndicated loan and the super & short-term commercial paper, Fosun’s capital has been further consolidated.

In recent years, Fosun proposed to position itself as a global innovation-driven consumer group. In the past six months or so, Fosun has significantly accelerated its pace of focusing on its core businesses in the family-oriented consumer sector. Based on recent positive news, it can be seen that this strategic adjustment has already achieved results, and Fosun’s Health, Happiness, Wealth and other family-oriented consumer sectors have shown a strong recovery momentum.

Taking Fosun Tourism Group in the Happiness segment as an example, on the New Year’s Day this year, Atlantis Sanya, FOLIDAY Town Lijiang and other businesses have all performed better than the same period in 2022, and many Club Med resorts in China recorded close to 100% occupancy. In the global market, Club Med’s bookings in the first half of 2023 have greatly exceeded the same period in 2019 before the COVID-19 epidemic.

Regarding Fosun Pharma in the Health segment, its anti-epidemic vaccine and drug continue to attract great attention. COMIRNATY, including the monovalent COVID-19 mRNA vaccine (BNT162b2) and the bivalent vaccine which can protect against the Omicron variant, was officially registered as a drug/product (biological product) in Hong Kong SAR on 20 December 2022. Fosun Pharma has also opened up vaccinations to people including Mainland Chinese residents. As regards Azvudine, the oral medication for COVID-19, it is now included in the medical insurance scheme in 31 provinces, municipalities, and autonomous regions across the country, and is available in grassroots medical institutions in many provinces. The accessibility of Azvudine has been greatly enhanced.

Based on its solid financial performance and strong potential for rebound, domestic and overseas securities firms have recently issued research reports, assigning Fosun International an “overweight” rating. On 12 January, Nomura Orient International Securities published a research report and mentioned that Fosun International currently has sufficient cash flow, the short-term liquidity problem has been resolved, the future leverage ratio is expected to be reduced, and the capital structure will continue to be optimized; at the operational level, Fosun will firmly focus on its core businesses in the family-oriented consumer sector. With the continuous optimization of China’s epidemic prevention policy, the firm expects Fosun to achieve better performance.

Previously, China International Capital Corporation (CICC) and China Industrial Securities have published research reports successively and expressed optimism about Fosun’s strategy of streamlining the organization and focusing on its core businesses.

“In the medium and long term, we believe that the valuation method of Fosun International is expected to gradually shift from using the NAV of the group to using the PE of the large consumer company. As a result, Fosun is expected to usher in a rise in the central level of long-term valuation,” CICC mentioned in the research report.

Asian Financial Forum kick-starts 2023 on a positive note

  • Business leaders gather in Hong Kong to share views on global outlook

The 16th Asian Financial Forum (AFF) kicked off today on a positive note, attracting over 1,000 participants on day one, including more than 100 global leaders and officials invited as speakers and 19 delegations from Mainland China and overseas. This was also reflected in the results of a poll conducted at the event, in which close to 70% of respondents indicated a neutral to positive sentiment towards the global economic outlook.

The 16th Asian Financial Forum opened today in physical format with digital extension and will run for two days at the Hong Kong Convention and Exhibition Centre.
Mr Ban Ki-Moon, Former (Eighth) Secretary-General of the United Nations, delivered a speech during the keynote luncheon.
AFF Deal Flow Matchmaking Session was once again held in physical format, facilitating business collaborations through face-to-face communication.

This year’s Forum, themed Accelerating Transformation: Impact – Inclusion – Innovation, comes hot on the heels of the resumption of quarantine-free travel between Hong Kong and Mainland China, along with Hong Kong’s international business travel returning to normal.

After two years of being held in virtual format, the two-day event, co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), returned in physical format, in addition to being available online.

The Forum was officiated by HKSAR Chief Executive Mr John Lee. HKTDC Chairman Dr Peter K N Lam also delivered his welcome remarks: “The Forum is the first flagship financial event held in hybrid format to kick-start the new year. Hong Kong has long been a leading global financial centre, and the global financial leaders’ visit to Hong Kong solidifies our important role in the region and the world at large. Global cooperation has become more important than ever. Our collective aim is to stimulate growth, and if we join hands, we can do just that in this new normal we operate in.”

The AFF opened with a plenary session hosted by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR. The panelists included Ms. Yuriko Backes, Minister of Finance, Luxembourg; Dr Benjamin Diokno, Secretary, Department of Finance, Philippines; Dr Zamir Iqbal, Vice President, Finance and CFO, Islamic Development Bank; Mr Jin Liqun, President and Chair, Asian Infrastructure Investment Bank; Mr Ahmed Saeed, Vice President for East Asia, Southeast Asia and the Pacific, Asian Development Bank; Mr Jean-Paul Servais, Chairman, International Organization of Securities Commissions (IOSCO) and Chairman, Financial Services and Markets Authority (FSMA Belgium); Mr Arkhom Termpittayapaisith, Minister of Finance, Thailand and Dr Tao Zhang, Chief Representative, Representative Office for Asia and the Pacific, Bank for International Settlements.

At the policy dialogue, Mr Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, chaired a panel featuring Mr Otavio Damaso, Deputy Governor for Regulation of the Central Bank of Brazil; Dr Dong He, Deputy Director of Monetary and Capital Markets Department of the International Monetary Fund; Ms Verena Ross, Chair of the European Securities and Markets Authority; and Hiroto Uehara, Deputy Director-General of the Bank of Japan.

Real-time polling conducted during the Forum gauged participants’ views on a broad range of subjects. When asked about the major challenges facing global growth in 2023, 60% of participants believe that the intensifying geopolitical risks will pose the biggest threat. 29% of participants believe the continued tightening of monetary policy will be the biggest risk, apart from cyber breaches and security risks (3%) and high corporate debt restraining business investment (8%). When asked about the possibility of innovation and technology bringing more benefits than risks to growth, 87% of participants said it was very likely or likely.

Ban Ki-Moon on multilateralism in a fraught world
At the keynote luncheon on the first day moderated by Mr Ronnie C. Chan, Chairman of Hang Lung Properties, Mr Paul Chan Mo-po, Financial Secretary of the HKSAR and Mr Huang Zhaohui, CEO and Chairman of the Management Committee of the China International Capital Corporation, delivered remarks. The luncheon also featured Mr Ban Ki-moon, eighth UN Secretary-General, as the keynote speaker. In his speech, he stated: “COVID-19, climate change and other global crises have underlined our fundamental interconnectedness. These events have also made it clear that we need global solutions to holistically address the enormous challenges that we are now facing. The UN Sustainable Development Goals and Paris Climate Agreement provide humanity with a collaborative blueprint to ensure the future that we want, while leaving no one behind. To achieve this noble goal, all stakeholders, including financial and business leaders, should strengthen cooperation, innovation, engagement and action. We can harness this time of uncertainty to pave the way towards a more sustainable, healthy and prosperous world for all.”

In addition, financial and business leaders also attended sessions that explored prospects for the global economy. In her speech, Ms Valerie Baudson shared : “Speaking about 2023, I think there will be three factors, which will determine the global outlook. The first one is the Central Bank’s policy with inflation, which starts to decrease. The second one, the energy crisis and the way the European governments will go on managing them, and the third one is of course the Chinese reopening, which will be very important for global growth”. Gu Shu opined that: “The world economy is facing multiple challenges, but it is in better shape compared to that of the last few years. We have experienced sluggish trade and investment, high inflation, and disrupted global supply chains. This year downward pressure remains, but we believe inflation in major economies will start to come down. Growth rate may not be fast, but still in positive territory. We see opportunities coming from green transition and digitization. We call for countries to make concerted efforts to normalize the global economy.”

In the afternoon, the inaugural Global Spectrum, Dialogue for Tomorrow and Fireside Chat sessions analysed social trends that impact our future, including financial innovation, healthcare and impact investing, and highlight opportunities and challenges facing start-ups in the Guangdong-Hong-Kong-Macao Greater Bay Area (GBA), and the potential of non-fungible tokens (NFTs) and digital collectables to drive the digital economy.

In view of the growing importance of Environmental, Social and Governance (ESG) among corporates and investors, the HKTDC and PwC presented a joint research paper on “Financing the Corporate Transition to a Sustainable Future” at the AFF. Mr Raymund Chao, Asia Pacific and China Chairman of PwC, shared the findings: “It was a great opportunity for us to partner with HKTDC to release our joint research study today at the Asian Financial Forum. Our survey, which centred around ESG transformation, pointed to a number of challenges and opportunities facing local corporations in delivering meaningful results on their ESG journey and effectively financing their ESG initiatives. Businesses need to embrace a game-changer mindset, while working together with all levels of stakeholders to build trust and drive sustained outcomes in this space. As policymakers bring additional focus to ESG, along with higher C-suite awareness, we believe this will not only further Hong Kong’s development in green finance, but will also propel the world forward towards a sustainable future.”

Providing connections for investors
The AFF Deal Flow Matchmaking Session, co-organised by the HKTDC and the Hong Kong Venture Capital and Private Equity Association, have returned in physical format. More than 600 matchmaking meetings are expected to be held. While the sessions take place in-person on 11 and 12 January, they continue online until 17 January, allowing investors and project owners more time to connect and explore collaboration opportunities. Representatives from a variety of industries will participate in this much-anticipated session, ranging from deep technology, digital technology and media, and medical technology to education, infrastructure and real estate services.

The Forum continues to provide a platform facilitating projects and business matching among global finance and trade institutions. For instance, the Indonesian Real Estate Developers Association (REI) and Institution of Public Private Partnerships in Hong Kong signed a memorandum of understanding on the first day of AFF to strengthen collaboration in infrastructure. Yedpay, an exhibitor in the Forum’s FinTech Showcase, also joined hands with global financial institutions and local universities at the event to launch a collaboration framework on jointly developing various payment technologies.

Two women leaders delivering keynote addresses tomorrow
The AFF will continue to feature stimulating and thought-provoking sessions tomorrow, including a keynote speech in the morning on the promotion of climate change delivered by Ms Christiana Figueres, former Executive Secretary of the United Nations Framework Convention on Climate Change, and Co-founder of Global Optimism. Ms Helen Clark, former Prime Minister of New Zealand, will join the keynote luncheon as a guest speaker to share her experiences as an influential global leader and her mission to promote a diverse and inclusive culture.

There are over 20 workshops and panel discussions on a myriad of topics, such as sustainable development and ESG, green finance, inclusive capital markets, family office challenges, digital Reminibi and innovative technology development. Highlighted speakers include Dr Norman Chan, Chairman of RD Wallet Technologies / RD ezLink; Mr Charles Li, Founder and Chairman of Micro Connect; Dr Feng Xiao, Chairman of HashKey Group; Dr Giovanna Graziosi-Casimiro, Head of Metaverse Fashion Week of Decentraland and Mr Sebastian Fahey, Executive Vice President and Managing Director, EMEA and Executive Lead of the Metaverse at Sotheby’s.

The HKTDC is providing a variety of exclusive travel, food and hotel discounts for overseas delegates, to enrich their stay in Hong Kong beyond the two-day Forum. For details, please visit: https://bit.ly/3Gv9xt6

Websites
– Asian Financial Forum: https://www.asianfinancialforum.com/aff/en/
– Programme: https://www.asianfinancialforum.com/conference/aff/en/programme
– Speakers List: https://www.asianfinancialforum.com/conference/aff/en/speaker
– HKTDC Media Room: http://mediaroom.hktdc.com
– Photo Download: https://bit.ly/3vRBnem

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.

Media enquiries
Yuan Tung Financial Relations:
Tiffany Leung, Tel: +852 3428 2361, Email: tleung@yuantung.com.hk
Agnes Yiu, Tel: +852 3428 5690, Email: ayiu@yuantung.com.hk
Hing-fung Wong, Tel: +852 3428 3122, Email: hfwong@yuantung.com.hk

HKTDC Communications & Public Affairs Department:
Katy Wong, Tel: +852 2584 4524, Email: katy.ky.wong@hktdc.org
Snowy Chan, Tel: +852 2584 4525, Email: snowy.sn.chan@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org

SCIB Proposes Private Placement to Raise Up to RM10.98 Million

Company to use gross proceeds for working capital, repayment of bank borrowings and estimated placement expenses

Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) is proposing a private placement to raise gross proceeds of up to approximately RM10.98 million for working capital, repayment of bank borrowings and estimated expenses for the proposed private placement.

Group MD and CEO of SCIB, Encik Rosland bin Othman

While the issue price and the actual number of shares to be issued will be determined later, under the maximum scenario in which all the Company’s 245.18 million outstanding warrants are exercised, the proposed private placement will entail the issuance of up to 82.72 million placement shares at an indicative price of RM0.1327 per placement share to raise gross proceeds of up to approximately RM10.98 million. Under the minimum scenario, should none of the outstanding warrants be exercised, then gross proceeds raised will be RM7.72 million.

The proposed issuance represents not more than 10% of the issued shares as at the latest practicable date (LPD) of 30 December 2022 while the indicative price per share represents a discount of approximately 9.97% to the five-day volume weighted average market price of SCIB shares up to the LPD of RM0.1474. The proposed private placement may be implemented in several tranches within six months of approval from Bursa Securities Malaysia Berhad or any extended period approved by it until the conclusion of the next AGM.

The proposed private placement is undertaken in accordance with the approval obtained from the shareholders of the Company at the 46th AGM convened on 8 December 2022.

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

2023 Toys & Games Fair, Baby Products Fair, Stationery & School Supplies Fair Open Today

  • Return of in-person fairs to embrace opportunities upon border re-opening

As the first round of Hong Kong Trade Development Council (HKTDC) 2023 trade shows, the 49th HKTDC Hong Kong Toys & Games Fair, the 14th HKTDC Hong Kong Baby Products Fair and the 21st Hong Kong International Stationery and School Supplies Fair, jointly organised by the HKTDC and Messe Frankfurt (HK) Ltd, kick off today at the Hong Kong Convention and Exhibition Centre. The three fairs will run concurrently until 12 January and bring together more than 1,000 exhibitors to showcase a wide range of inspiring toys, quality baby products and creative stationery.

The physical Hong Kong Toys & Games Fair, Hong Kong Baby Products Fair and Hong Kong International Stationery & School Supplies Fair open today and run until 12 January 2023 at the Hong Kong Convention and Exhibition Centre.
Bernard Chan, Acting Secretary for Commerce and Economic Development, delivered an opening speech at the opening ceremony this morning.
Brand Name Gallery at the Hong Kong Toys & Games Fair and Hong Kong Baby Products Fair presents branded products with outstanding design and innovative functions from over 120 internationally renowned brands.

Sophia Chong, Deputy Executive Director of the HKTDC, said: “With the first phase of the resumption of quarantine-free travel between Hong Kong and Mainland China starting yesterday (8 January), Hong Kong’s business travel is gradually returning to normal. The HKTDC continues to help companies seize opportunities, welcoming over 250 exhibitors from the mainland at the Toys & Games Fair. The Fair is supported by the Guangdong Province Department of Commerce’s Cantonese Business Go Global programme, attracting over 120 exhibitors alone, and more than 1,000 representatives from Guangdong enterprises are expected to participate in the three fairs in-person.”

Ms Chong added: “We are pleased to see that exhibitors at the three fairs are ready to showcase a wide range of uniquely designed toys products, quality and safe products for babies and children as well as personalised and eco-friendly stationery.”

Hong Kong Toys Industry Conference 2023: latest trends and keys to success
The three fairs, themed Play To Bond – Family and Beyond, have attracted exhibitors from 17 countries and regions. One of the flagship events, the Hong Kong Toy Industry Conference 2023, opens tomorrow themed The Future of Play. Clifton Chiu, Research Analyst, Toys and Games of Euromonitor International will present the toy industry’s key trends, while toy industry players will share how to succeed in the business. E-payment agencies and e-commerce companies will also discuss expanding your business through e-commerce. In addition, there will be seminars on smart toys and electronic games, baby products’ market trends, the latest toy safety regulations, toy specifications, testing and certification and other topics.

The Hong Kong Toys & Games Fair and Hong Kong Baby Products Fair have various themed zones for easy sourcing. The highlighted Brand Name Gallery showcases branded products with eye-catching designs and innovative functions, featuring over 120 internationally renowned brands, including 4D Master, Eastcolight, Hape, KEEPPLEY, Ming the Minibus, Welly, Winfun and Marcus & Marcus. During the epidemic, school closures kept children at home for long periods, making educational toys a popular choice.

The Smart-Tech Toys zone presents toys and games that incorporate innovative technology, such as artificial intelligence (AI) and augmented reality (AR), allowing consumers to learn while having fun. Kidult World features products for grown-ups, such as model mechs and vintage Paper Cardboard Vending Machine, filled with childhood memories. This year, more than 100 exhibitors showcase green toys, and a special Green Toys label helps buyers identify and source eco-friendly toys, one of the most popular product categories in the industry.

The Hong Kong Baby Products Fair continues to receive support from the Korea Trade-Investment Promotion Agency and the Hong Kong Children, Babies, Maternity Industries Association, and once again has two pavilions, bringing diverse baby products to buyers. The popular Korea Pavilion showcases baby fashion, health and bath products, maternity products and more. The Strollers and Gear zone showcases strollers, car seats and bassinets. Other highlighted theme zones include Baby Bedding Items and Furniture and Feeding and Nursery Products.

Jointly organised by the HKTDC and Messe Frankfurt (HK) Ltd, the Hong Kong International Stationery and School Supplies Fair features the latest in creative art supplies, gift stationery, school and office supplies. The organisers continue to cooperate with renowned industry associations in different regions, including the Malaysia Stationery Importers and Exporters Association, the Federation of Stationers and Booksellers Association of Malaysia, the Taiwan Association of Stationery Industries, and the Thai Stationeries and Office Supplies Association, to promote the fair to their respective members.

The Hong Kong Toys & Games Fair, Hong Kong Baby Products Fair and Hong Kong International Stationery & School Supplies Fair run under the EXHIBITION+ hybrid model, which includes HKTDC-organised physical fairs, the smart business-matching platform Click2Match, online-to-offline seminars under the Intelligence Hub, and the hktdc.com sourcing platform. This extends face-to-face interactions from physical exhibitions to an online smart business-matching platform to help enterprises connect with business partners proactively. The Click2Match platform for the three fairs will be accessible until 19 January, allowing exhibitors and buyers to continue to conduct business discussions online after the physical show.

Fair Websites
– HKTDC Hong Kong Toys & Games Fair: http://hktoyfair.hktdc.com/
– HKTDC Hong Kong Baby Products Fair: http://hkbabyfair.hktdc.com/
– Hong Kong International Stationery & School Supplies Fair: http://hkstationeryfair.com/
– Photo download: https://bit.ly/3vOO1uA

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.

Media enquiries
HKTDC’s Communications & Public Affairs Department:
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
Kate Chan, Tel: +852 2584 4239, Email: kate.hy.chan@hktdc.org
Agnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org

Elcogen AS: MOU with Korea Shipbuilding and Offshore Engineering and Fraunhofer Institute for Ceramic Technologies and Systems

  • Elcogen signs MOU with KSOE (HHI group) and Fraunhofer IKTS
  • Covers R&D Cooperation on Fuel Cell and Hydrogen Technology

Elcogen, the European manufacturer of clean energy technology that delivers affordable green hydrogen and emission-free electricity, is pleased to announce the signing of a Memorandum of Understanding (MOU) with Korea Shipbuilding and Offshore Engineering (KSOE), a member of Hyundai Heavy Industries (HHI) group, and the Germany based Fraunhofer Institute for Ceramic Technologies and Systems (IKTS). The MOU was signed at recently held CES 2023 in Las Vegas.

From left: Hanna Grano-Fabritius, Chief Commercial Officer of Elcogen Group; Dr. Sung-Joon Kim, Chief Technical Officer at KSOE; Prof. Alexander Michaelis, Director of Fraunhofer IKTS [Image: Elcogen]

The MOU covers close R&D collaboration in the fields of green hydrogen production and emission-free power generation systems. KSOE is a research-oriented intermediate holding company of Hyundai Heavy Industry (HHI) group, one of the world’s largest shipbuilders and is headquartered in Seoul, South Korea. In its own research centers, KSOE is pursuing the development of innovative technologies, including emission-free power generation and hydrogen value chain.

IKTS is a world leading application-oriented research institute in the ceramic sector. IKTS has been developing various fuel cell stack designs, has constructed them as prototypes and tested them for their suitability for different applications including load profiles. Together with its partners, Fraunhofer IKTS develops stacks for use in decentralized energy supply systems – from micro-CHP units to systems with more than 20 kW power. To this end, IKTS selects and tests various components within the stack environment, including long-term and cycle tests, and develops costefficient and automatable manufacturing processes for stack production.

Elcogen will supply its solid oxide fuel cell (SOFC) and solid oxide electrolyser cell (SOEC) technology to the partnership. Elcogen’s technology offers an efficient solution to green hydrogen and emission-free energy production, thereby reducing commercial costs so customers can deliver affordable energy solutions to meet net-zero targets. Elcogen supplies the core technology that sits at the heart of energy security and transition away from fossil fuels.

Enn Ounpuu, CEO of Elcogen, commented: “Our emission-free power generation and green hydrogen production technology has the potential to make an important contribution to the decarbonisation of the energy industry. Today’s agreement with KSOE and IKTS shows that world class shipbuilding and system integrators share that view. We are delighted to be working with two such high quality partners and are looking forward to our collaboration.”

Dr. Sung-Joon Kim, Chief Technical Officer at KSOE added: “The collaboration between KSOE, Fraunhofer IKTS and Elcogen has high value at a time when the shipbuilding and offshore industries are now moving into a zero CO2 era.”

“Today we are taking the meaningful step towards a successful and outstanding collaboration for all of us, and ultimately an important step for global society,” said Prof. Alexander Michaelis, Director of Fraunhofer IKTS, describing the scope of the MOU, “Renewable energies and carbon net zero are the challenge of our time, and in this cooperation, we can apply our many years of experience, particularly in the field of solid oxide fuel cells.”

Click to view the full announcement: http://www.rns-pdf.londonstockexchange.com/rns/0647M_1-2023-1-9.pdf

For further information please visit https://elcogen.com/ or contact:

Elcogen AS
Marek Roostar
marek.roostar@elcogen.com
+372 53 84 6006

Tavistock (Corporate and Financial PR)
Simon Hudson / Nick Elwes / Rebecca Hislaire
elcogen@tavistock.co.uk
+44 20 7920 3150

For more information about KSOE, please visit http://ksoe.co.kr/en/about01

For more information about IKTS, please visit https://www.ikts.fraunhofer.de/en/aboutus.html

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Hong Kong Investment Promotion Chief visits Indonesia and Singapore to promote Hong Kong’s business opportunities

The Director-General of Investment Promotion at Invest Hong Kong (InvestHK) of the Government of the Hong Kong Special Administrative Region of the People’s Republic of China, Mr Stephen Phillips, today (January 9) embarked on a duty visit to Jakarta, Indonesia, and Singapore this week as part of the latest efforts of InvestHK to promote Hong Kong’s business attractions, including the opportunities arising from the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

Mr Stephen Phillips

During the visit, Mr Phillips will be meeting with representatives of companies from financial services and family offices, innovation and technology, transport, infrastructure and advanced manufacturing, creative industries, and business and professional services sectors to discuss their plans of setting up or expanding operations in Hong Kong and other parts of the GBA.

Mr Phillips will also host a business roundtable cum luncheon for member companies of the Employers’ Association of Indonesia in Jakarta to provide an update on business opportunities and talent initiatives in Hong Kong. In Singapore, he will conduct two roundtables jointly organised with the Good City Foundation and the Association of Small & Medium Enterprises respectively, to share with them the latest initiatives and opportunities of the family offices sector in Hong Kong.

Mr Phillips said, “Hong Kong remains the only place in the world where the global advantage and the China advantage come together in a single city. This unique convergence makes Hong Kong the irreplaceable connection between the Mainland and the rest of the world. The city is an ideal location for overseas and Mainland companies, as well as entrepreneurs from around the world, as a base to set up or expand their business in Hong Kong, the GBA, China, and Asia more widely.”

He added, “Hong Kong offers Indonesian and Singaporean companies a wide range of routes to growth opportunities. I look forward to sharing with representatives of companies and entrepreneurs the up-to-date and real situation in Hong Kong, and particularly how they can use Hong Kong to seize opportunities, including those arising from the GBA.”

Overwhelming interest among global financial leaders to attend 16th Asian Financial Forum

  • First mega financial event of the year examining current state of global economy

The 16th Asian Financial Forum (AFF), organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), will once again be held at the Hong Kong Convention and Exhibition Centre (HKCEC) on 11 and 12 January to bring together global financial leaders in person. The event will also be accessible virtually. The first large-scale business exchange event of 2023 comes on the heels of the reopening of the Hong Kong-Mainland China border and the resumption of quarantine-free travel between Hong Kong and the mainland since the start of the pandemic.

Wilson Chow, PwC Global Technology, Media and Telecommunications Industry Leader; Dr Patrick Lau, HKTDC Deputy Executive Director; Mary Huen, Chairperson of the AFF Steering Committee and Cluster CEO, Hong Kong, Taiwan and Macau, at Standard Chartered; and Danny Lee, Director of Hong Kong Venture Capital and Private Equity Association [L-R]

The HKTDC is organising a series of travel experiences, food and accommodation discounts and other opportunities for overseas guests to make the most of their stay in Hong Kong during the AFF and International Financial Week and enjoy the vibrancy of Asia’s World City.

With this year’s theme being Accelerating Transformation: Impact – Inclusion – Innovation, AFF will examine the current state of the global economy and explore major issues, such as trade and sustainable development across more than 40 panel discussions and workshops. Given the interest in hot-button social issues related to international finance and topics such as climate change, health policy, energy and environmental protection, food and agriculture, in addition to the emergence of new economic models from rapid fintech developments like Web 3.0 and the Metaverse, this year’s Forum will launch the Global Spectrum series, while continuing to organise Fireside Chats, to help participants stay current on a wider scope of matters affecting the latest global situation.

17 business delegations, with more than 200 representatives, will attend AFF in person, including from Mainland China, Australia, Canada, Germany, Indonesia, South Korea, Saudi Arabia, Singapore, Thailand and the United Arab Emirates. These also include delegations led by the World Federation of International Financial Centers, Beijing Financial Bureau, Tianjin Commission of Commerce, Shenzhen Financial Bureau, Hong Kong General Chamber of Commerce in Thailand, Riyadh Chamber of Commerce, Dubai Chamber of Commerce and other organisations. More international business representatives are expected to confirm their in-person participation at the Forum in the coming days.

Mary Huen, Chairperson of the AFF Steering Committee and Cluster CEO, Hong Kong, Taiwan and Macau, at Standard Chartered, said: “For Hong Kong, 2023 will be a year of recovery and the return to normalcy. The imminent and orderly resumption of travel with the Mainland will help stimulate our economy, improve market sentiment, and consolidate Hong Kong’s role as a super connector – bridging the Mainland and the international market. We are glad that this year’s Asian Financial Forum will see global leaders gathering here physically to discuss the opportunities and challenges facing the financial industry, reinforcing Hong Kong’s status as an international financial centre.”

Dr Patrick Lau, the HKTDC’s Deputy Executive Director said: “Firstly, given last year’s volatile financial markets and fragile economy globally, transformation is key, as the world in 2023 needs new insights, solutions and opportunities, which the more than 100 global political and business leaders, financial experts, investors, entrepreneurs, tech giants and economists we engaged as our speakers will share with our distinguished AFF participants. Secondly, with the resumption of quarantine-free travel between the mainland and Hong Kong and the lifting of international travel restrictions in Hong Kong, we are pleased to see huge interest to join AFF, including attending in-person in Hong Kong. We believe that the AFF platform enables all participants to have closer interactions and create more business opportunities. Another big attraction is, of course, that the participants will introduce their projects at AFF to secure partners or investors. AFF will attract global financial leaders and professionals to participate in person as well as online, and will once again showcase Hong Kong as a vibrant international business centre.”

Comprehensive analysis of the latest social and financial situation
This year’s forum gathers financial experts from all over the world. Three keynote speakers, Ban Ki-moon, eighth Secretary-General of the United Nations; Helen Clark, former Prime Minister of New Zealand; and Christina Figueres, co-founder of Global Optimism and former Executive Secretary of the United Nations Framework Convention on Climate Change, will share their insights on topics, such as multilateral cooperation for sustainable development, diversification and integration, climate action and net zero emissions.

Other distinguished guest speakers include Valerie Baudson, Chief Executive Officer of Amundi; Gu Shu, Chairman of the Agricultural Bank of China; Takeshi Kunibe, Chairman of the Board of Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking Corporation; Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners; Dr Ridha Wirakusumah, Chief Executive Officer of the Indonesia Investment Authority; Mark Tucker, Group Chairman of HSBC; Dr Jose Vinals, Group Chairman of Standard Chartered; and Liu Jin, Vice Chairman of the Board of Directors and President, Bank of China. Their insights will offer an in-depth look at the state of play of global finance, opportunities in the Regional Comprehensive Economic Partnership (RCEP) and Guangdong-Hong Kong-Macao Greater Bay Area markets, asset and wealth management, ESG and green finance, family office ecosystems, impact investing, inclusive finance and more.

Norman Chan, Chairman of RD Wallet Technologies, will have a dialogue with Charles Li, Founder and Chairman of Micro Connect on creating an inclusive capital market; Jeremy Coller, Founder and Chief Investment Officer of Coller Capital, will share his views on ESG in private equity investment; Evan Auyang, Group President of Animoca Brands, Dr Giovanna Graziosi Casimiro, Head of Metaverse Fashion Week of Decentraland and Sebastian Fahey, EVP, Managing Director, EMEA and Executive Lead, Metaverse of Sotheby’s, will look at NFTs and digital collectable trends. (For the full list of AFF speakers and programmes, please visit https://www.asianfinancialforum.com/conference/aff/en/speaker and https://www.asianfinancialforum.com/conference/aff/en )

AFF Deal Flow Matchmaking Session extended to showcase fintech solutions
The popular AFF Deal Flow Matchmaking Session, jointly organised by the HKTDC and the Hong Kong Venture Capital and Private Equity Association, will provide investment matching services in hybrid format. The first two days of matchmaking meetings (11 and 12 January) will allow participants to meet at the physical Forum venue and will continue online until 17 January, offering investors and project owners a prolonged period to connect and explore collaboration opportunities. The investment projects covered will span diverse sectors, such as deep tech, digital technology and media, healthtech, education, infrastructure and real estate services, with an eye towards facilitating connections between investors and project managers. More than 600 Deal Flow matchmaking meetings are expected to be held.

There will also be featured exhibition zones – both physical and online. These are Fintech Showcase, the InnoVenture Salon, FintechHK Startup Salon and the Global Investment Zone, which will showcase various innovative technologies. More than 120 local and international financial institutions, tech companies, start-ups, investment agencies and sponsors – including PwC, Standard Chartered Bank, Bank of China, HSBC, UBS, China International Capital Corporation, Huatai International, Hong Kong Exchanges and Clearing Limited, as well as Cyberport – will gather at the Forum to showcase technologies of tomorrow and global investment opportunities.

Travel experiences, food and accommodation discounts, and more for overseas participants
To encourage overseas AFF delegates to make the most of their stay and experience the vitality of Hong Kong outside the Forum, the HKTDC has for the first time partnered with the Hong Kong Tourism Board, Klook, the Lan Kwai Fong Group and hotels to offer travel experiences, food and accommodation discounts, coupled with other special offers to showcase Hong Kong as a popular tourist, conference and exhibitions destination. As the HKSAR Government announced the resumption of quarantine-free travel between the Mainland and Hong Kong in a gradual and orderly manner last month, the HKTDC extends the special offer for an admission pass to 8 January, on top of the Convention and Exhibition Industry Subsidy Scheme, in the hope of driving more participation.

Websites
– Asian Financial Forum: https://www.asianfinancialforum.com/aff/en/
– Members of the media interested in interviewing speakers at the Asian Financial Forum can email tleung@yuantung.com.hk or ayiu@yuantung.com.hk by 9 January 2023.
– HKTDC Media Room: http://mediaroom.hktdc.com
– Photo download: https://bit.ly/3CvC7to

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn,

Media enquiries
Yuan Tung Financial Relations:
Tiffany Leung, Tel: +852 3428 2361, Email: tleung@yuantung.com.hk
Agnes Yiu, Tel: +852 3428 5690, Email: ayiu@yuantung.com.hk
Hing-fung Wong, Tel: +852 3428 3122, Email: hfwong@yuantung.com.hk

HKTDC’s Communications & Public Affairs Department:
Katy Wong, Tel: +852 2584 4524, Email: katy.ky.wong@hktdc.org
Snowy Chan, Tel: +852 2584 4525, Email: snowy.sn.chan@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org

Hong Kong Toys & Games Fair, Baby Products Fair and Stationery & School Supplies Fair open next Monday

HKTDC kicks off 2023 with three large scale trade events

The 49th HKTDC Hong Kong Toys & Games Fair, the 14th HKTDC Hong Kong Baby Products Fair and 21st Hong Kong International Stationery & School Supplies Fair will return to the Hong Kong Convention and Exhibition Centre from 9 to 12 January 2023. The Hong Kong Toys & Games Fair and Hong Kong Baby Products Fair are organised by the Hong Kong Trade Development Council (HKTDC), while the Hong Kong International Stationery & School Supplies Fair is jointly organised by the HKTDC and Messe Frankfurt (HK) Ltd.

John Tong, HKTDC Toys Advisory Committee Chairman, Sophia Chong, HKTDC Deputy Executive Director and Judy Cheung, Deputy General Manager of Messe Frankfurt (HK) Ltd, attended the press conference to share highlights and innovative products.
Exhibitors at the Toys & Games Fair displays an AR Animal Revival – Lion toy. By scanning the link on the lion’s body, it shows a lion in vivid detail, enabling children to learn about the animal’s habits and habitat and capture a photo with the lion by smartphone.
The Pandas’ Bamboo House from a Hong Kong exhibitor is made of wood and eco-friendly, renewable materials to nurture children’s imagination and creativity while raising their awareness about the environment.

The pandemic and disruption on cross-border trade flows between Mainland China and Hong Kong has affected Hong Kong’s export. However, the resumption of cross-border land transportation between the Mainland and Hong Kong will help strengthen the momentum of Hong Kong’s export growth to the Mainland. Although total exports of last year have not been announced, it is expected to fall 6%. Meanwhile, Hong Kong’s tight regional supply chain with some Asian markets led to double-digit export growth. In the first 11 months of 2022, Hong Kong’s exports to ASEAN grew by 9.9% year-on-year, while they surged 11.6% and 11.2% to Taiwan and Korea, respectively.

Looking ahead to 2023, while trade frictions between the US and China persist and the geopolitical situation between Russia and Ukraine remains tense, cross-border land transport between Hong Kong and the Mainland is expected to return to normal in February to March this year. Coupled with exports to the ASEAN markets, the HKTDC forecasts a 5% increase in Hong Kong’s total exports in 2023.

Sophia Chong, the Deputy Executive Director of HKTDC, said, “With the theme of Play To Bond – Family and Beyond, the three fairs will feature more than 1,000 exhibitors from 17 countries and regions, including diverse group pavilions. The Toys & Games Fair’s Mainland China pavilion will showcase over 250 exhibitors. Supported by the Guangdong Province’s Department of Commerce’s Cantonese Business Go Global, over 120 Guangdong exhibitors will participate in the Fair. In response to the imminent border reopening and resumption of quarantine-free travel between Mainland China and Hong Kong, the HKTDC will welcome over 1,000 Guangdong enterprises representatives.”

Ms. Chong continued, “The Baby Products Fair will once again have a Korean pavilion, showcasing high-quality Korean baby products. The HKTDC has invited many local and overseas entities to visit the three fairs, including importers, department stores, specialty shops, retail chains and etailers.”

Innovative products by over 120 international brands
The Hong Kong Toys & Games Fair and Hong Kong Baby Products Fair will offer a number of themed zones for easy sourcing.

The Brand Name Gallery at both fairs will feature unique and innovative products by over 120 internationally renowned brands, including Eastcolight, Hape, KEEPPLEY, Rastar, Welly, Marcus & Marcus and more.

The Hong Kong Toys & Games Fair’s Kidult World will features products for grown-ups, such as classic comic book character models and Hong Kong Softee Car Building Blocks, while the Smart-Tech Toys zone will showcase toys and games using innovative technology, including artificial intelligence (AI) and augmented reality (AR). Green toys, currently the industry’s must-haves, will also be on view.

With the support of the Korea Trade-Investment Promotion Agency (KOTRA) and the Hong Kong Children, Babies, Maternity Industries Association, the Hong Kong Baby Products Fair will again feature two pavilions, offering a wide range of baby products to buyers. The popular Korea Pavilion will have on display baby fashion, health and bath products, maternity products and more, while the Strollers and Gear zone will showcase a range of strollers, car seats and bassinets. Other zones include Baby Bedding Items and Furniture as well as Feeding and Nursery Products.

Jointly organised by the HKTDC and Messe Frankfurt (HK) Ltd, the Hong Kong International Stationery & School Supplies Fair will feature the latest in creative art supplies, gift stationery, and school and office supplies. The organisers continue to cooperate with renowned industry associations in different regions, including the Malaysia Stationery Importers and Exporters Association, the Federation of Stationers and Booksellers Association of Malaysia, the Taiwan Association of Stationery Industries and the Thai Stationeries and Office Supplies Association, to promote the fair to their respective members.

A series of exciting events to network and stay informed
One of the flagship events, the Hong Kong Toy Industry Conference 2023, will be held on 10 January. On the theme of The Future of Play, a representative from Euromonitor International will analyse key trends in the toy industry in 2023. Industry experts from Animoca Brands, Medialink Group and Eastcolight will talk about the key to success in brand development while representatives from iClick Interactive, AlipayHK and Toy2R Group will share how e-commerce is shaping the way for the toyindustry. In addition, there will be seminars on smart toys and electronic games, an overview of baby products market trends, the latest toy safety regulations, testing and certification and other topics.

The Hong Kong Toys & Games Fair, Hong Kong Baby Products Fair and Hong Kong International Stationery & School Supplies Fair will run under the EXHIBITION+ hybrid model, which comprises four key exhibition elements, including HKTDC-organised physical fairs, HKTDC’s smart business-matching platform Click2Match, online-to-offline seminars under the Intelligence Hub and the hktdc.com Sourcing platform.

This extends face-to-face interactions from physical exhibitions to an online smart business matching platform to help enterprises connect with business partners proactively. EXHIBITION+ provides round-the-clock services that boost the flexibility and effectiveness of business promotion for SMEs and offer benefits such as extended fair periods, expanded platforms and enhanced opportunities.

The HKTDC encourages exhibitors and buyers to make full use of the Click2Match platform, while participating in the physical exhibitions to explore more business opportunities. The Click2Match platform for the three fairs will be accessible until 19 January, which is equivalent to extending the exhibition period by one week.

The Hong Kong International Wine & Spirits Fair (10-11 January) and the Asia Financial Forum (11-12 January) will be held concurrently with the three fairs, to kick off the trade sourcing cycle in 2023.

Fair Websites
– HKTDC Hong Kong Toys and Games Fair: http://hktoyfair.hktdc.com/
– HKTDC Hong Kong Baby Products Fair: http://hkbabyfair.hktdc.com/
– Hong Kong International Stationery & School Supplies Fair: http://hkstationeryfair.com/
– Photo download: https://bit.ly/3Gj6rbD

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.

Media enquiries
HKTDC’s Communications & Public Affairs Department:
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
Kate Chan, Tel: +852 2584 4239, Email: kate.hy.chan@hktdc.org
Agnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org

Doubleview Appoints Red Cloud Securities Inc. to Provide Corporate Advisory Services

Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: A1W038) (the Company or Doubleview) is pleased to announce that it has appointed Red Cloud Securities Inc. and Red Cloud Financial Services Inc. (together Red Cloud) to provide the Company with a range of corporate advisory services. Red Cloud is a Toronto-based financial services company that provides assistance to mineral exploration and mining companies in accessing capital markets and enhancing their corporate profile.

Under the engagement, Red Cloud will be paid a fee of $10,000 per month for the services it will render starting January 1, 2023 and for an initial six-month period and the arrangement can automatically renew month-to-month thereafter at the option of the Company. More specifically, Red Cloud will provide services such as organizing and administering “roadshows”, drafting traditional marketing materials, managing Doubleview’s social media and providing traditional media support and assistant in the creating of video content for exclusive use on “Red Cloud TV” and other services as required by the Company. In certain circumstances additional services may be provided to the Company by Red Cloud and an additional contingent consideration for such services may be applicable. The engagement of Red Cloud is subject to TSX Venture Approval. Red Cloud has no direct relationship with the Company, other than as contemplated in the current agreement.

“Doubleview has entered a new horizon in its growth that must now reach out to higher grounds in the mining exploration arena. With the strategic metals and unique new North American financial spectrum, we need professionals in this environment to bolster our growth. I am sure that Red Cloud’s unique and robust experience in the strategic metals and mining markets will open new doors for Doubleview,” stated Farshad Shirvani, President and CEO.

About Doubleview Gold Corp
Doubleview Gold Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX-Venture Exchange (TSXV: DBG), (OTCQB: DBLVF), (FSE: A1W038), (FSE: 1D4). Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. The Company’s portfolio of strategic properties provides diversification and mitigates investment risk.

On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer

For further information please contact:
Doubleview Gold Corp
Vancouver, BC Farshad Shirvani
President & CEO
T: (604) 678-9587
E: corporate@doubleview.ca

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.