On June 26, Legend Capital‘s portfolio company, Yonz Technology Co., Ltd. (603381.SH), was successfully listed on the Main Board of the Shanghai Stock Exchange.
Founded in 2016, Yonz Technology is mainly engaged in the R&D, production, sales and application of green energy structural materials. With years of development, the company has become a leading manufacturer of aluminum alloy photovoltaic structural parts in China, with products coverage of photovoltaic frames, Building Integrated Photovoltaics (BIPV), and photovoltaic bracket structural parts. Being lightweight, high stability, weather- and corrosion-resistance, the company’s photovoltaic frame products are mainly used to protect the edges, strengthen the sealing performance and improve the overall mechanical strength of photovoltaic modules, so as to facilitate better transportation and installation.
Since its establishment, the company has always placed great attention on improving its innovation and R&D capabilities. Its core technological system, involving a complete production chain including product structure design, casting process technology, mold design and production, profile extrusion technology, surface treatment technology and deep processing technology, has been applied in large-scale production. As of December 31, 2023, Yonz Technology and its subsidiaries owned 81 registered trademarks, 135 authorized patents, and 2 software copyrights. According to the data from China Photovoltaic Industry Association in 2023, from 2020 to 2022, the company’s market share of the solar frame products was ranked first among global rivalries, stating a leading position of Yonz Technology in manufacturing technology and product quality within the industry.
Wang Xianli, Chairman of Yonz Technology, said: After the listing, Yonz Technology will adhere to the mission of ‘making the best integration of green energy and the world’. While further improving our present business of solar module frames, we will continuously cooperate with upstream and downstream partners in the green energy domain at the same time, further extending the PV industry chain. We will also improve our products’ added values and persistently contribute to the domestic clean energy and PV industry development.
Legend Capital invested in Yonz Technology in 2021 and provided proactive value-adding services in various aspects including lean production, talent introduction, strategic planning, global investment, and corporate management, enabling Yonz Technology to improve its R&D capabilities and achieve significant growth in revenue and profit.
Legend Capital said: Congratulations to Yonz Technology. Its Chairman Mr. Wang is an outstanding entrepreneur with extensive experiences and strong industrial networks, which helps to bring together a strong management team. Yonz Technology has always focused on improving its own innovation and R&D since its establishment and will further consolidate its industry position by leveraging the advantages to become a world-class, greener structural material manufacturer.
About Legend Capital Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, Seoul and Singapore.
It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.
Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.
For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital.
The article is distributed by Ever Bloom (HK) Communications Consultants Group Limited on behalf of Legend Capital.
On June 26, Legend Capital’s portfolio company, Aidite (301580.SZ), was successfully listed on the ChiNext of the Shenzhen Stock Exchange.
Founded in 2007, Aidite is an industry-leading provider of oral prosthodontics materials and dental digital equipment, covering business for more than 120 countries and regions around the world. The company has always been committed to R&D, production and sales of internationally competitive oral prosthodontics materials including zirconia porcelain blocks. Aidite designs and sells dental digital equipment on the basis of its in-depth understanding of the oral medical industry and good customer base, and through technological innovation and digitalization, the company transforms traditional dentistry and promotes digitization and intelligence of the dental industry.
Since its establishment, Aidite has adhered to the concept of innovation-driven development, focusing on renovating dental technology to launch products that meet market demand and improve product competitiveness to expand international market share. Through long-term R&D of zirconium oxide preparation technology, the company has formed a full product series covering the high, middle and low-end market segments. Relying on its long-term and profound accumulation in zirconia materials and its understanding of the digital production process of dentures, the company vigorously expands its dental digital equipment business and promotes digitization and intelligence of the dental restoration field. As of December 31, 2023, Aidite and its subsidiaries have acquired a total of 93 patents, including 92 valid domestic patents and 1 overseas invention patent.
LI Hongwen, Chairman of Aidite, said: Aidite will lead and focus more on innovations after the listing. The company will continue to build technical barriers and cost advantages for core products, and through leveraging the comprehensive advantages of cloud platform digital services and digital equipment with a higher degree of automation, Aidite is also committed to promoting technological transformation of dental medical digital production and contributing to improving the quality and efficiency of the industry. At the same time, Aidite will continue to cooperate with head dental colleges and research institutions actively to promote the industrial application of cutting-edge dental diagnosis and treatment technologies, as well as enhance international market expansion with a vision to become a global-leading digital dental solution provider.
Legend Capital invested in Aidite at the end of 2019 and is the company’s earliest and largest external institutional investor. After the investment, Legend Capital has continued to support the company’s development, including providing assistance in the company’s equity governance, executive talent introduction, follow-up financing, strategic positioning, and domestic and foreign M&A.
Legend Capital said: There is huge room for growth in the industrial chain of the oral medical industry. As a leading company in oral prosthodontics materials, Aidite has a clear strategy, extending upstream and downstream around the oral materials industry, and seizing the digital opportunities in the dental industry to continuously improve its overall R&D capabilities. We hope that the company will take the listing as an opportunity to further enhance its brand influence both domestically and internationally, attracting more customers at home and abroad and taking a leading role in accelerating the overseas expansion of Chinese dental brands. We believe that under the leadership of Chairman Mr. LI Hongwen, the company will bring more products to benefit more people and create greater value for customers, the industry and society through continuous R&D and innovation. Congratulations to Aidite for its successful listing!
About Legend Capital Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, Seoul and Singapore.
It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.
Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.
ESTA is a NASDAQ listed company, headquartered in Costa Rica, that has developed and commercialized a significantly improved breast implant. We believe ESTA stock has a credible pathway to double in the next year, with an opportunity to grow multiples beyond that with a long-term price target of +$200 versus $44.48 (6/14/2024 close).ESTA screens as expensive (7.7x sales multiple) and has a corresponding large, short interest (20%) and was also subject to a Hindenburg short report in 2022. However, Findell believes that ESTA has one of the best fundamental growth stories in the med-tech space over the next several years and 2024 will be a crucial inflection year with the launch of Motiva in the US and the roll out of Mia-Femtech abroad.ESTA has developed and commercialized a significantly improved breast implant, Motiva, that is on the cusp of being cleared by the FDA. This US launch coupled with the launch in China should allow ESTA’s base business to grow at a +30% CAGR over the next several years.The market has yet to fully appreciate how differentiated this product is from legacy products and how untenable it will be in the long run from a liability perspective for doctors to use anything but Motiva, the safest product ever developed by a large margin. We believe that Motiva’s launch in the US will be similar to how it launched in Switzerland and South Korea – it will take majority share in short order.ESTA has also developed a minimally invasive procedure called Mia-Femtech, which it has just begun to roll out. Mia is a 15-minute augmentation procedure that requires no general anesthesia and has minimum recovery time and achieves a very natural look. Given how radically different a procedure this is – both in the process and the final output – Mia could significantly expand the addressable market for augmentation – this could be to breast enhancements what Ozempic is for weight loss.With Motiva’s launch expected in early Q3 pending a site visit by the FDA and Mia-Femtech’s roll out underway, the second half of 2024 and early 2025 will provide several proof points of this burgeoning growth story and the heavily shorted stock should re-rate accordingly.Findell will be doing a live interview with SumZero at 10:00 a.m., Monday, June 17, 2024 to further discuss the story. To register – click here.Contact:Findell Capital ManagementLLC88 Pine Street, 22nd Fl.New York, NY 10005info@findell.us
SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), a versatile incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is excited to announce the launch of the Chaintrade AI powered research platform and that the Company has entered into an Acquisition Agreement to acquire 100% of the assets of ChainTrade Ltd.’s AI-powered Trading Platform (the “Platform”). The closing of the Acquisition is pending the completion of customary due diligence, which is expected to be completed within 30 days.
Chaintrade is a Joint Venture between Plato Data Intelligence and Redmatter.Capital. and was built to revolutionize trading and investing by leveraging AI’s predictive capabilities.ChainTrade, is a UK-registered Fintech company. Chaintrade has developed a Platform to allow users to trade Equities, ETFs, Commodities, and Indices with the support of a personalized AI-powered trading assistant. The Platform was built to revolutionize trading and investing by leveraging AI’s predictive capabilities. This will improve research, risk management and asset allocation. The Platform provides the user personalized and customized investment strategies and utilizes AI to evaluate assets within a portfolio.The launch of the AI research tool will enable investors to analyze thousands of data points including live price data, performance, investor sentiment, fair value, and risk factors simultaneously. These enable The ChainTrade AI Research tool to provide insights, enabling investors to make informed decisions to optimize their portfolio performance. ChainTrade and its founding members have spent the last three years building the required infrastructure to deploy it to the market. Once fully enabled the platform will be able to facilitate all transactions in a highly secured environment. The Platform’s development and features continue to evolve so it can be marketed across emerging markets. “I want to thank our shareholders for being patient with the management team. We continue to work towards the development of our vision for the company. With the pending acquisition of Chaintrade AI our vision is now on a solid executable foundation.” quoted Erik Blum, Chairman & CEO of SMC. “With the launch of the Chaintrade AI Research Tool we have another foundation block in place . We plan to deploy a fully functioning AI enhanced SaaS model to market by the end of the quarter . As well we will continue to build on the platform both organically and through acquisition. We have developed a very strong team internally which we believe can enhance our platform and increase our shareholder value We expect to see positive revenue growth from the acquisition quickly. Nobody else can do what we do, we intend on being the best in class, what every other platform is measured against. This is an extremely exciting time for the company, and I look forward to executing on plan and uplisting to a senior exchange We are planning on providing a complete shareholder update within the next few weeks.”Prem Couture / Founder of Redmatter Capital: “We have developed a specialized language model tailored specifically for finance, with a focus on stocks, companies, revenue statements, balance sheets, and cash flow. This advanced model is adept at retrieving and analyzing data from live data feeds, providing real-time insights and analysis for financial professionals and investors. We have spent the last 3 years building our infrastructure around facilitating both OnChain and Offchain transactions in a highly secured environment.”Bryan Feinberg, Founder of Plato Data Intelligence: “As the underlying technologies we are developing continue to evolve, we can play in making AI more accessible to everyone, especially across emerging markets.”About SMCSMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC’s multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. https://smceinc.comAbout ChaintradeChaintrade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD a registered financial service company, with its subsidiary licensed under a securities trading license granted by the Montenegro Capital Market Authority (CMA) Authorized by the law on capital markets by the government of Montenegro. https://chaintrade.aiPress Release Contact:Erik Blum / CEOSMC Entertainment, Inc.360-820-5973 Safe Harbor StatementSome of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.
On May 27, Legend Capital’s portfolio company, Qunabox Group (HKG: 0917), was successfully listed on the main board of the Hong Kong Stock Exchange with an opening price of HKD33 per share, a 32% increase from the issue price of HKD25 per share.
Founded in 2013, Qunabox Group is an AIoT marketing service provider focusing on fast-moving consumer goods (“FMCG”). Through utilizing its broad network of vending machines with interactive marketing functions, Qunabox Group provides target consumers with convenient and interesting experience in testing and accessing FMCG that it served, while successfully soliciting and completing necessary interaction and feedback.
As of December 31, 2023, Qunabox Group operated 7,543 vending machines in 22 cities in China including all the tier one cities and many new tier one cities. Substantially all of Qunabox Group’s vending machines are located in commercial properties with an aim to cover the major consumer groups of FMCGs, and by attracting consumers for interaction and converting them into users of their online platform “Quna” with a combination of online and offline channels, Qunabox Group had approximately 15.9 million AAUs in 2023. According to CIC, it provided marketing service to 472 brand customers for approximately 1,400 SKUs of FMCG products, including products from 74 emerging brands among the top 100 emerging brands in the industries of beverages, food and daily necessities in China.
Legend Capital invested in Qunabox Group in 2016 and has accompanied the company in its development from a vending machine-style outdoor marketer to a comprehensive marketing service provider integrating AI technology, IoT technology, and interactive sensing technology. After the investment, Legend Capital actively helped the company improve its strategic management and organizational management capabilities, and provided the company with value-added services in multiple dimensions such as business connection, finance, legal compliance and talent recruitment.
Legend Capital said: “Qunabox Group represents an upgrade of consumer services driven by technological innovation. By utilizing various AIoT technologies, it has transformed traditional low-efficiency free trial marketing services into a new generation of service model that is interesting for consumers, data-driven for brands, and significantly improves efficiency for the industry. With the advancement of large-scale AI models, Qunabox Group will become the best platform for AI applications in digital marketing. At the same time, Qunabox Group will continuously expand into overseas markets and enhance its global presence. The team has achieved remarkable achievements under the leadership of the company’s chairwoman, Ms. Yin Juehui, one of the rare Chinese entrepreneurs who possess both global vision and strong execution capabilities. Congratulations to Qunabox Group on its successful listing in Hong Kong.”
About Legend Capital Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, Seoul and Singapore.
It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.
Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.
SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is excited to announce they have signed an LOI to acquire Chaintrade LTD, an AI Fintech company. Chaintrade has developed an AI Powered Asset Trading Platform that allows users to trade any Equity, ETF, Commodity, and Index with the support of a personalized AI Powered trading assistant SMC has agreed to acquire the platform and looks forward to completing the necessary due diligence to close this acquisition quickly as the platform is ready for commercial launch.
Chaintrade is a joint Venture between Plato Data Intelligence and Redmatter.Capital. and was built to revolutionize trading and investing by leveraging AI’s predictive capabilities while improving risk management and asset allocation, ensuring more personalized investment strategies. Chaintrade’s portfolio management utilizes AI to evaluate assets within a portfolio.
“We look forward to closing the acquisition of Chaintrade, once completed we will have a fully functioning model to deploy.” quoted Erik Blum, Chairman & CEO of SMC “This acquisition will advance our infrastructure and technology tremendously. SMC can now shift from conception to application and full implementation of our SaaS vision. After closing we plan on re-branding our AI component, as FYNN AI. We look forward to introducing FYNN as a new, next generation learning and research AI designed to help you trade smarter. We will continue to update shareholders as things develop.”
Prem Couture / Founder of Redmatter Capital: “Our AI analyzes performance, investor sentiment, fair value, and risk factors to provide personal insights enabling informed decisions and optimized portfolio performance. We have spent the last 3 years building our infrastructure around faciliting both OnChain and Offchain transactions in a highly secured environment.”
Bryan Feinberg, Founder of Plato Data Intelligence: “As the underlying technologies we are developing continue to evolve, we can play in making AI more accessible to everyone, especially across emerging markets.”
About SMC
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC’s multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. https://smceinc.com
About Chaintrade
Chaintrade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD a registered financial service company, with its subsidiary licensed under a securities trading license granted by the Montenegro Capital Market Authority (CMA) Authorized by the law on capital markets by the government of Montenegro. https://chaintrade.ai
Press Release Contact: Erik Blum CEO SMC Entertainment, Inc. 360-820-5973
Safe Harbor Statement Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.
SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC PINK: SMCE) SMC / (PINK:SMCE) is pleased to announce a marketing agreement and collaboration with Plato Technologies Inc.
Plato Technologies specializes in AI content disruption and AI management systems. The collaboration will enable the Company to market Plato’s platform directly to web and content development teams. The companies have agreed on a revenue sharing agreement after deducting individual client acquisition costs.
“This is just the beginning.” stated Erik Blum CEO of SMC, “We are very excited to be engaged with Plato to further our development and building of our internal AI foundation. The success of any ML/ AI program is data points and content management. Plato excels at both management of those data points and providing a cohesive platform to execute on. We believe we can successfully market their platform and in turn gain valuable access to its archived content. Content is key in assimilating market data. We want to utilize that content in our market driven machine learning program for trading. The synergies are huge and provide us an accelerated platform to execute on our business plan”.
“Since our inception, we are continuously setting a new standard on what Generative AI and Generative Intelligence represents to the capital markets. Our network allows us to authentically connect the communities our data and content represents to the verticals we support. This partnership represents a best of class opportunity to leverage our technology across SMC’s growing ecosystem” Bryan Feinberg, Plato’s CEO and Founder commented.
About Plato Technologies Inc.
Plato is an Ai powered content and syndication network that curates the latest in data intelligence across today’s most innovative market verticals. The platform is designed to provide an ultra-safe and secure environment to consume sector specific real-time data intelligence across 45 Market Verticals and 35 Languages. Plato’s in-house syndication network currently syndicates content to over 1900+ Publisher websites for deep and authentic connectivity to the communities.For Information on Plato, visit https://platodata.network / https://zephyrnet.com
About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC’s multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.
Press Release Contact:
Erik BlumChief Executive Officer SMC Entertainment, Inc.
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.
Venturi Partners (“Venturi”), a prominent growth equity firm specialising in consumer investments across India and Southeast Asia, today announced its recent investment in DALI Discount (“DALI”), a rapidly expanding hard discount chain operating in the Philippines. The investment will further accelerate DALI’s ambitious expansion plans to fulfill its mission to sell high-quality, affordable groceries of everyday consumption at lowest possible price in its local neighborhood stores.
Founded in 2020, DALI has quickly established itself as #1 discounter in the Philippines’ retail landscape offering a core range of the 400 most needed consumer goods – food and non-food. Known for its commitment to everyday low prices for its carefully curated selection of quality essentials, DALI offers significant value to customers seeking to stretch their grocery budgets without sacrificing quality but also to those just buying smarter. DALI vision is to improve daily lives of all Filipino households by providing good quality product at lowest possible price next door.
Venturi Partners’ $25 million investment in DALI underscores the firm’s confidence in the company’s hard discounter business model, strong management team, and the large market opportunity to disrupt the retail landscape in the Philippines. Leveraging its deep consumer industry expertise and extensive network, Venturi is well-positioned to support DALI in accelerating its expansion initiatives, enhancing operational efficiency, and further strengthening its market presence across the Philippines.
Investing out of its $180 million maiden fund, Venturi joins Navegar, Creador, the Asian Development Bank and other institutional investors and family offices on DALI’s cap table. “We are thrilled to announce our partnership with DALI, a company that is democratising access to high quality groceries in the Philippines,” said Nicholas Cator, Founding Partner at Venturi. “DALI’s commitment to maximising value for its customers aligns seamlessly with our consumer-first investment philosophy, and we see tremendous potential for the company to expand its reach and improve the lives of even more households across the Philippines.”
The transaction represents Venturi’s second investment in the Philippines, following its investment in Pickup Coffee last year, a fast-growing grab-and-go coffee chain that provides high-quality coffee at disruptively low-price points.
DALI will join Venturi Partners’ portfolio of consumer-focused investments in India and Southeast Asia which includes Livspace, Country Delight, Believe, and Pickup Coffee.
About Venturi Partners
Founded in 2019 by veteran consumer investor Nicholas Cator, Venturi Partners is an Asia-focused investment platform that enables consumer-facing business startups to build disruptive brands in India and Southeast Asia. The firm provides growth funding to customer-centric, purpose-driven brands in India and Southeast Asia, with a focus on education, healthcare, and fast-moving consumer goods, which have a shared desire to create a positive impact on the world. Venturi has built a unique investment platform for families wanting to participate in the long-term consumer growth trends in Asia. The platform is built around shared values and long-term partnerships and aims to bring operational value-add to entrepreneurs building tomorrow’s leading brands in Asia.
W Capital Markets Pte. Ltd. (“W Capital”) has entered into a collaboration agreement with VCI Global Limited (NASDAQ: VCIG) (“VCI Global”), for the purpose of introducing prospective clients to one another.
VCI Global is a diversified holding company which primarily offers consulting services in capital markets, real estate, AI, and technology. In technology businesses, the company operates a proprietary financing platform that serves companies and individuals, as well as a secured messaging platform serving governments and organizations. VCI Global also invest, incubate, accelerate, and commercialize businesses and technologies in AI, robotics, and gamification.Under this collaboration agreement, VCI Global will introduce clients, to W Capital, who may have an interest in the investment banking services offered by W Capital and will collaborate with W Capital to jointly advise clients with interest in seeking initial public offering listings on the stock exchanges in the United States, particularly the Nasdaq Capital Markets.“We are confident that this collaboration will create significant value for our clients who intend to seek a listing on the Nasdaq Capital Markets by providing them with access to the combined expertise and resources of W Capital and VCI Global to help them navigate the IPO process successfully. Furthermore, clients introduced by VCI Global will gain access to our full suite of bespoke investment banking services, including M&A and trade sale advisory and private equity growth capital fund raising, and clients may also be able to tap into pre-IPO funding provided by W Capital Private Equity VCC, an associate of W Capital which invests in small to mid-cap companies from Series B to Pre-IPO stage, to bridge their funding needs prior to their planned IPO” said Wayne Lee, Chairman and Chief Executive Officer of W Capital.“This collaboration will enable both parties to leverage on each other’s strength. In the case of VCI Global, this collaboration will enlarge our pool of potential clients seeking to be listed in the United States, which undoubtedly will further increase our earnings into the medium term at the very least. Of course, we are pleased to be able to reciprocate W Capital’ actions by passing clients to them with interest in investment banking services,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.About W Capital Markets Pte. Ltd.W Capital is a holder of the Capital Markets Services (“CMS”) licence issued by the Monetary Authority of Singapore to conduct the regulated activities of “Advising on Corporate Finance” and “Dealing in Capital Market Products that are Securities and units in a Collective Investment Scheme” and is an accredited IPO Mainboard Issue Manager and Catalist Full Sponsor authorised by the SGX. W Capital provides a full suite of bespoke investment banking services, including M&As, IPOs, Pre-IPO & secondary fund raising and financial advisory, with a focus on mid-cap companies (S$50 million to S$1 billion enterprise value) in the Asia Pacific region.For more information on W Capital, please visit our website at https://www.wcapitalmarkets.com.sg. Media Contact:For media queries relating to this press release, please contact:Vicki ZHOU / LEE Ke Weizhouyan@financialpr.com.sg / kewei@financialpr.com.sg
Over 3,600 policymakers and business leaders drawn to the showcase for Hong Kong’s vibrant economy
The 17th AFF concluded today, attracting over 3,600 policymakers and business leaders from more than 50 countries and regions who actively joined vibrant discussions, fostering sustainable development and multilateral cooperation and showcasing Hong Kong’s vibrant economy, setting the stage for conferences and exhibitions in the new year
The Forum arranged over 700 one-on-one meetings, successfully connecting investors with project owners and exploring opportunities in various industries
The AFF facilitated the signing of MoUs and agreements, including the Comprehensive Avoidance of Double Taxation Agreement between Hong Kong and Croatia and Memorandum of Understanding between the Financial Services Development Council and Financial Sector Development Program of Saudi Arabia, deepening business collaborations
On-site polling during the Forum showed that most participants considered the digital economy (31.4%) and electric vehicles (26.1%) the most promising industries in Mainland China
The 17th Asian Financial Forum (AFF), jointly organised by the Hong Kong Special Administrative Region (HKSAR) Government and Hong Kong Trade Development Council (HKTDC), successfully concluded today, attracting over 3,600 financial and business elites from more than 50 countries and regions, including over 70 overseas and Mainland China delegations. The Forum showcased Hong Kong’s thriving economy as participants explored opportunities, accelerated sustainable development and multilateral cooperation and launched Hong Kong’s conferences for the year.
The event was marked by a vibrant atmosphere. Various segments – including the opening session, plenary discussions, policy dialogue, keynote luncheons and cocktail reception – were well attended. Leaders from around the world actively engaged in discussions.
In just two days, the Forum arranged over 700 one-on-one meetings, successfully connecting investors with project owners and exploring opportunities for industry and investment cooperation. After the Forum’s conclusion, participants will have the opportunity to continue discussions and meetings online from tomorrow until 30 January (Tuesday).
Over the two-day physical event, the AFF brought together more than 140 policymakers, international financial and multilateral organisation representatives, financial institutions and corporate leaders from around the world as speakers.
On the first day of the Forum, Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network, addressed the keynote luncheon, affirming the importance of Hong Kong as an international financial centre. He said that global cooperation could help solve problems that were even beyond our reach. He believed Hong Kong could play a full role in sustainable development financing, an increasingly important area.
One of the highlights of this year’s AFF was the Plenary Session I – Charting the Path to a Shared Future, hosted by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, bringing together financial officials from around the world to discuss economic challenges countries face. Julapun Amornvivat, Deputy Minister of Finance, Thailand, said: “The Asian Financial Forum is the place where both the public and private sectors can have honest discussions to find solutions to tackle major problems today and transform the economy for the future.” H.E. Dr Mohamed Maait, Minister of Finance, Egypt, mentioned that the world was grappling with rising geopolitical tensions and a lack of clarity about the future, weighing on the achievement of sustainable economic growth. To address global challenges, the world needed to deploy all efforts to coordinate economic policies on a multilateral scale.
On the second day, the Breakfast Panel focused on Unleashing the Dragon’s Currency: Navigating Renminbi Internationalisation on the Global Stage, allowing participants to delve into the renminbi’s growing use worldwide and trends in international demand. Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, addressed the Keynote Luncheon on the second day, which was moderated by Raymund Chao, Asia Pacific and China Chairman, PwC.
Global Spectrum, Dialogues for Tomorrow and Fireside Chat brought together pioneers from various industries to discuss a host of topical subjects, explored the latest Web 3.0 and virtual asset development, the future of fintech innovation, CIO Insights, green finance and opportunities in new markets. Speakers included Bob Prince, Co-Chief Investment Officer of Bridgewater Associates, Dr Ma Jun, Chairman and President, Hong Kong Green Finance Association (HKGFA), Guinandra (Andra) Jatikusumo, Group Director and Chief of Investments & Business Development of CT Corp, Darmawan Junaidi, President Director, Bank Mandiri, Yat Siu, Co-Founder and Executive Chairman, Animoca Brands, and more.
Understanding prospects for mainland industries, environmental economics To gauge participants’ views on the global economic outlook this year, the Forum conducted on-site voting during panel discussions. For instance, at the Panel Discussion on Global Economic Outlook, participants were asked about the greatest threats or uncertainties to economic growth in the Asia-Pacific. Most attendees identified geopolitical fragmentation (66.7%) as the biggest challenge, followed by a slowdown in the recovery momentum in key economies (17.7%), persistent inflation (6%), a tightened monetary environment (4.2%), continued supply chain reshaping (3.6%) and other factors (1.8%).
In the newly introduced Panel Discussion on Stewarding China’s New Chapter, participants were asked about the most promising industries in Mainland China. The digital economy took top spot with 31.4%. Electric vehicles (26.1%) and renewable energy (18.8%) followed in second and third place, respectively. Advanced manufacturing (15.8%), other industries (4.2%) and electronic devices (3.2%) ranked subsequently.
Over 700 matching sessions held on-site, online platform continues to yield results Through the years, the Forum has played a crucial role in deepening business and trade collaboration. AFF Deal-making, a global investment project-matching event jointly organised by the HKTDC and Hong Kong Venture Capital and Private Equity Association (HKVCA), was well received, facilitating over 700 one-on-one meetings, connecting funds and investment projects from around the world. The founder of one of the start-ups from Thailand said he had met 20 visitors with potential deals, ranging from a family office to a legal adviser. He also commented that the geographical diversity of the visitors at Deal-making was extensive, ranging from India to Europe and Japan. The deal-making session had presented valuable opportunities to find potential business partners.
This year’s AFF also facilitated the signing of various Memorandums of Understanding (MoUs) and Agreement. These included the Comprehensive Avoidance of Double Taxation Agreement between Hong Kong and Croatia and Memorandum of Understanding between the Financial Services Development Council and Financial Sector Development Program of Saudi Arabia.
The Forum also featured exhibition zones including the Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon and Global Investment Zone, presenting innovative solutions from international financial institutions and introducing prospective unicorns from Hong Kong and around the world. The exhibition segment brought together over 140 exhibitors, including international financial institutions, technology companies, start-ups, investment promotion agencies, and sponsors, including knowledge partner PwC, along with HSBC, Bank of China, Standard Chartered Bank, UBS, China International Capital Corporation (CICC), Huatai International and Cyberport.
The 2024 International Financial Week (IFW) commenced on 24 January to create synergies, bringing together over 20 partner events. These events cover a many topics of global interest to the financial and business community. They include private equity investment, alternative investments, sustainable investments, family offices and women’s empowerment, among others. These events highlight the role of Hong Kong as an international financial centre.
To seize opportunities and promote the conference and event economy, the AFF collaborated with various organisations to arrange activities for participants beyond the Forum. These activities included free admission to the Hong Kong Palace Museum, Hong Kong’s iconic Aqua Luna red-sail junk boat, TramOramic tour and open-top Big Bus arranged by the Hong Kong Tourism Board. These experiences allowed forum guests to feel at home and appreciate the vibrancy and diversity of Hong Kong.
Furthermore, to provide overseas participants with a better understanding of the Guangdong-Hong Kong-Macao Greater Bay Area and the vast business opportunities within, organisers will lead a delegation to Shenzhen tomorrow (26 January), including corporate visits and exchange activities.
The 17th Asian Financial Forum, jointly organised by the HKSAR Government and the HKTDC, concluded successfully, attracting over 3,600 financial and business elites who actively participated in the event, creating a vibrant atmosphere for exchanges and showcasing Hong Kong’s thriving economy
Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network, addressed the Keynote Luncheon on the first day
Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, delivered insightful remarks during the Keynote Luncheon on the second day
Bob Prince, Co-Chief Investment Officer of Bridgewater Associates, an investment veteran, shared his experience in leadership transfer, markets views and investment tactics in Mainland China
The AFF Deal-making, an investment project matchmaking event organised by the HKTDC and the HKVCA, drew strong interest, facilitating over 700 one-on-one meetings and connecting funds and investment projects from around the world, involving more than 270 investors and over 560 projects
Representatives from Hong Kong and Croatia sign the Comprehensive Avoidance of Double Taxation Agreement
The Financial Services Development Council and Financial Sector Development Program of Saudi Arabia sign their MoU
The cocktail reception on the first day invited Paul Chan, Financial Secretary of HKSAR; Dr Peter KN Lam, Chairman of the HKTDC and Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive, Hong Kong, HSBC, to deliver speeches, fostering lively exchanges among guests from around the world
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
