Mongolian Mining Corporation announces 2019 Interim Results

From left to right: Dr. Battsengel Gotov (Executive Director & Chief Executive Officer), Ms. Ulemj Baskhuu (Chief Financial Officer)

Mongolian Mining Corporation (“MMC”, or together with its subsidiaries, the “Group”; stock code: 975), the largest producer and exporter of washed hard coking coal (“HCC”) in Mongolia, today announced its unaudited interim results for the six months ended 30 June 2019 (“1H2019” or the “reporting period”). 

During the reporting period, the Group generated a total revenue of USD325.6 million, an increase of nearly 20% (1H2018: USD272.2 million). The Group sold approximately 2.0 Mt of HCC, an increase of 14.0% as compared to 1.7 Mt of HCC sold during the same period in 2018. The average selling price (“ASP”) for HCC was USD147.0 per tonne in 1H2019 (ASP in 1H2018: USD146.1 per tonne). 

Gross profit amounted to approximately USD129.9 million in 1H2019, representing an increase of 20.1% year-on-year (1H2018: USD108.1 million); while profit attributable to equity shareholders of the Company for 1H2019 surged by 59.4% to approximately USD47.1 million (1H2018: USD29.5 million). 

Dr. Battsengel Gotov, Chief Executive Officer of MMC, said, “We are pleased to report sound financial and operational performance for the period, highlighted by nearly 20% revenue growth and over 59% growth in profit attributable to equity shareholders. Building on the strong first half of the year, we look to continuously push our production and sales volumes by utilizing our existing coal mining and processing capacity, optimizing our transportation and logistics efficiency and expanding relations with our end-user customers’ base. Also we shall remain focused on our commitment to safe and responsible mining operations. 

About Mongolian Mining Corporation (Stock code: 975)
Mongolian Mining Corporation (“MMC” or “the Group”, SEHK: 975) is the largest producer and exporter of washed HCC in Mongolia. It owns and operates two open-pit coking coal mines, the Ukhaa Khudag deposit located within the Tavan Tolgoi coal formation, as well as the Baruun Naran coking coal deposit, both located in South Gobi, Mongolia. 

MMC was listed on The Stock Exchange of Hong Kong Limited in October 2010. To learn more about the Group, please visit MMC’s website at: www.mmc.mn. 

Enquiries:
Strategic Financial Relations Limited
Cindy Lung +852 2864 4867 cindy.lung@sprg.com.hk
Stephanie Liu +852 2864 4852 stephanie.liu@sprg.com.hk
Desiree Shung +852 2114 2200 desiree.shung@sprg.com.hk

Leyou Technologies Announces 2019 Interim Results

The global market leader in free-to-play multiplayer online games, Leyou Technologies Holdings Limited (“Leyou Technologies”, and its subsidiaries collectively “the Group”; stock code: 1089) is pleased to announce its interim results for the six months ended 30 June 2019.

The Group’s performance on game development and publishing and work-for-hire businesses for the first half of 2019 has stabilised, while new game products in pipeline were in development phases. Accordingly, the financial performance of the first half of 2019 was stable as compared to that of the first half of last financial year. The Group’s revenue was US$105.7 million, representing a slight year-on-year decrease of 2.0%, primarily due to fewer content update releases in the first six months of 2019 compared to 2018. Gross profit margin reduced from 68.4% in the the first half of 2018 to 60.5% in the first half of 2019, primarily due to the increase in direct labor cost, whilst gross profit was US$63.9 million. Profit attributable to the owners of the Company decreased by 26.3% year-on-year to US$9.3 million, and EBITDA increased by 11.3% year-on-year to US$37.8 million respectively. During the Reporting Period, game development and publishing, work-for-hire and other businesses contributed 86.4%, 13.4% and 0.2% to the revenue of the Group respectively.

Mr. Xu Yiran, Chairman and Chief Executive Officer of Leyou Technologies said, “The Group’s flagship product Warframe achieved continuous success, and continued to break records on revenue and operationg data. These achievements are inseparable from the contributions of the professional and innovative team and the loyal support of the players. In addition to optimizing existing games and reaching more platforms, the Group has been actively developing new game products, whilst the development saw a smooth progress. Furthermore, we are pleased to co-develop The Lord of the Rings game with Amazon Game Studios. We believe our combined resources and expertise will result in a compelling game that customers will love and play for years to come. This strategic layout is expected to create new growth impetus for the Group and improve its profitability continuously.”

Business Overview
Game Development and Publishing
The game development and publishing business is the Group’s core business, and the Group’s major revenue and profit were driven by its flagship product Warframe. Due to the unsatisfactory gaming products and Dirty Bomb, a gaming product which removed all the monetization in Janurary 2019, no significant update being launched in the first half of 2019 as the Group’s research and development team has been devoting tremendous efforts in developing a number of massive content updates for Warframe, which are set to be released in the second half of 2019, the Group’s game development and publishing revenue slightly reduced by 4.8% year-on-year to US$91.4 million. During the Reporting Period, revenue of Warframe improved by 1.4% over the corresponding period in 2018, which was mainly driven by the launch of the PC version in China by Wegame, whilst monthly active users and average concurrent users of Warframe increasing year-on-year by 9.7% and 9.6%, respectively during the Reporting Period.

During the Reporting Period, the Group also actively explored more platforms for launching Warframe to cater to more players. Warframe was launched on Tencent Wegame platform in early March 2019, attracting even more new players for the game. In addition, during the fourth TennoCon, the Group announced a number of updates and development plans of Warframe, including a new spaceship game, Empyrean (formerly known as Railjack), the new open world Duviri Paradox and the new mission The New War, among which Empyrean and The New War are expected to be launched in the second half of the year. On the day of TennoCon, Warframe daily active users and TennoLive live event audiences all reached record highs, and the game has been increasingly popular among players.

Work-for-hire and Other Businesses
During the Reporting Period, the Group’s work-for-hire business recorded total revenue of US$14.1 million, an increase of 20.5% compared to the first half of 2018. Such increase was mainly attributable to the suspension of the Group’s own-IP game Dirty Bomb in the forth quarter of 2018 and redeployment of more resources on the work-for-hire business. The Group has a number of work-for-hire orders on hand, which will bring stable cash income to the Group. 

Other businesses mainly included sale of merchandise goods, game-hosting and provision of support services, which generated revenue of US$0.2 million during the Reporting Period.

New Products in Pipeline
The Group also attached great importance to the development of new products through creating original IP or working with globally renowned ones. The development of the new game products Transformers and Civilisation Online progressed smoothly, the Group thereby increased the overall development budget to further improve the quality of the games. During the Reporting Period, the Group and a subsidiary of Amazon.com, Inc., entered into a co-development agreement whereby the Group and Amazon Game Studios co-develop and publish a F2P MMO game based on The Lord of the Rings. The Group believes that the co-development of The Lord of the Rings game with Amazon Game Studios is beneficial to the Group by developing the game on a larger scale with greater complexity of characters and richness in content and catering for more platforms. Combining the huge organic traffic of popular IPs with the Group’s leading game development and publishing capabilities, the Group is able to maximize the success rate of new product becoming a hit.

Additionally, the Group has multiple unannounced new products in various development stages which are progressing well. Some of the new products are expected to be launched in the second half of 2019 and 2020. With the product pipeline established and each product progressing well, the Group believes that these new games will lay a solid foundation for future revenue growth of the Group in the next few years.

Outlook
The Group is committed to providing more compelling games to a diverse user base while building up revenue growth momentum of the games. Looking ahead, the Group will strive to expand the player base of its major existing games, and enhance the players’ engagement and loyalty to these games. Meanwhile, the robust product pipeline and continued investment in research and development will build solid bedrock for the Group’s profit growth in the next few years and bring better returns to its shareholders. 

The Group formulated a few years ago the forward-looking strategies to target the global blue-ocean market of large screen F2P online games, and has built a solid foundation. This year is a year of the Group foundation for the Group . The Group will continue to uphold its core strategies, further expand the market share of its game products, bolster the world’s leading game development team, and strengthen its advantages on F2P online game development and operations. At the same time, the Group will continue to identify opportunities of mergers or acquisitions, with a view to consolidating its competitive advantages and maintaining rapid growth in the market.

About Leyou Technologies Holdings Limited
Leyou Technologies Holdings Limited (1089.HK) is principally engaged in the development and publishing of online multiplayer PC and console video games. It is a global market leader in the market of free-to-play multiplayer online games. Leyou Technologies owns and invests in multiple world renowned AAA game development studios across the globe, including Digital Extremes and Splash Damage, and publishes several of the most successful free-to-play online multiplayer games worldwide. Six years since the flagship product Warframe has got online, it maintains a top 10 ranking in all genres in terms of number of players and playtime on Steam, and has a positive review score of approximately 91% from players. In addition to the continual premium updates and improvements to its live games, Leyou Technologies also keeps on investing in the development of new products, such as Civilization Online and Transformers.

For more information, please visit: http://leyoutech.com.hk/

Media enquiries:
Anli Financial Communications Limited 
Judith Cheung 852-3956 1646 judith.cheung@anli.com.hk
Kenix Luk 852-3656 1641 kenix.luk@anli.com.hk

VCREDIT 1H19 Recorded Significant Revenue Growth 46.4%, Successfully Transformed into a Pure Online Consumer Finance Service Provider

VCREDIT Holdings Limited (“VCREDIT” or the “Group”; stock code: 2003.HK), a leading independent online consumer finance provider in China, is pleased to announce its unaudited interim results for the 6 months ended 30 June 2019 (the “Period”). During the Period, the Group’s total income increased by 46.4% to RMB1,860.2 million year-on-year (1H 2018: RMB1,270.6 million), primarily due to the increase in loan origination volume through its credit-enhanced loan facilitation structure. Non-IFRS Adjusted Net Profit (1) surged 101.6% to RMB192.8 million (1H 2018: RMB95.6 million) due to the continued effort in monitoring its asset quality and improving operating efficiency. 

The Group recorded robust growth and completed its transformation into a pure online consumer finance business during the Period. The Group primarily offers two credit products through its pure online loan origination processes: (1) credit cards balance transfer products, and (2) consumption credit products, both of which are installment-based.

In the first half of 2019, the differentiation of online finance industry was intensifying, the number of online loan platforms was down to under 900, and the number of active lenders and active borrowers showed a double downward trend. According to the report of Suning Institute of Finance, the overall scale of the online finance industry is still expanding while the threshold is getting higher. Since the small and medium-sized organizations are becoming unadaptable, as a result, they are leaving the industry. The survival of the fittest is an irreversible trend.

In the stage of industry differentiation, it is also the stage of solidification. VCREDIT continues to adhere to the belief of “the convergence of technology, data analytics and mobile internet”, in order to proactively plans the forward-looking layout. Over the past decade, the Group has grown to become a leading independent player at the forefront of China’s consumer finance industry. The Group’s funding model differs to many of its competitors and is composed of long-standing partnerships with licensed financial institutions (banks, trusts, licensed financial institutions). The significance of reputable funding sources is the key strength to the integrity and sustainability of the Group’s business. The Group has maintained a steady growth momentum under the strict supervision and the new industry regulations which constantly constraining the participants. 

During the Period, the Group maintained its cooperative relationships with 30 existing licensed institutional funding partners, and also established mutually beneficial cooperations with 15 new institutional partners, including a strategic agreement with a national joint-stock commercial bank, aimed at expanding its intelligent consumer finance ecosystem and ensure the stability of funding sources. Moreover, the Group has begun to establish strategic cooperation agreements with third-party guarantee institutions which will allow it greater flexibility in working with licensed financial institutions. The Group successfully issued US$100 million 11.0% senior notes due 2021, in June 2019, which further strengthen its capitalization and expand its institutionalized funding sources.

The Group has formed strategic cooperation with all three mobile carriers in China. The cooperation with China Telecom Corporation Limited contributed to its increased loan origination volume of RMB468.2 million for the Period (RMB150.0 million for the whole year of 2018), successfully launched installment loan products to China Telecom’s customers in more than 25 provinces, 228 cities in China.

In June of 2019, the Group signed a strategic investment agreement with Chengdu Financial DreamWorks Investment Management Co., Ltd., and are currently working to establish VCREDIT Jiaozi Digital Technology Co., Ltd. in Chengdu, China. Chengdu Financial DreamWorks Investment Management Co., Ltd. is the first financial technology creation space designed to serve the small and medium sized micro-finance enterprises established with the support of the Chengdu Municipal Party Committee and Government and the Chengdu Branch of the People’s Bank of China. The Group’s fintech product offers an all-in-one solution for data collection, third party data integration, machine learning, business intelligence analytics and model building, which are able to lower customer acquisition costs and improve the operating efficiency of their SME (small and medium enterprises) lending, consumer credit lending and agricultural related lending businesses. New company will jointly build a new ecosystem of financial technology and promote the rapid and quality development of the western China financial center.

The revolutionary, state of the art credit scoring system and technology allows the Group to tailor each user’s experience perfectly with their unique backgrounds and needs, pairing multi-dimensional factors of each profile with those of its licensed institutional funding partners. The Group has also become a SaaS (Software-as-a-Service) provider of risk management systems for several financial institutions. By connecting various engines in the Hummingbird system (scorecard, anti-fraud, etc.) with the clients’ information technology system using API (Application Programming Interface), the Group has empowered these institutions to enhance their risk management and compliance capability, which will be better able to serve customers

As for the asset quality, the Group proactively updates its customer segmentation methodologies in underwriting to include more effective risk-based pricing and more prudent credit limit assignments based on prevailing market environment. Cumulative life-cycle credit losses for recent vintages have come at expected levels, indicating the effectiveness of its latest credit policies. Overall first payment delinquency ratio is consistent with the Group’s strategies which leveraging the mix of shorter tenor products.

Looking forward, the Group is committed to further building and expanding its online consumer finance business to better serve its borrowers, funding partners and business partners, as well as to bring value to the shareholders. At the same time, the Group will keep a foothold on fintech, to further develop its risk-based pricing and risk management capabilities. As the Group deepens its cooperation with the three major telecom operators and collaborates with leading companies in the fitness and education industry, hence, the Group’s business scale will further expand in the future. There are strong and large licensed financial institutions to provide funding sources, and the national regulatory policies that lead to the survival of the fittest in the industry. The Group’s development prospects are worth looking forward to. All sufferings have their rewards. VCREDIT, the financial services at your fingertips.

Note: 
(1) Non-IFRS Adjusted Net Profit is defined as profit for the Period with fair value loss of convertible redeemable preferred shares and share-based compensation expenses added back.

Trintech Achieves Record-Breaking New Customer Adoption and Expansion in H1

Asian Trails, Plenty, Supreme and Xinja Bank among New Customers who join Trintech’s Customer Base of over 3,500+ Companies

Trintech, a leading global provider of integrated Record to Report software solutions for the office of finance, continued to expand its market leadership and global footprint in the first half of its fiscal year. The rapid adoption of Trintech’s financial solutions to drive Risk Intelligent RPA(TM) (RI RPA) within a robust financial controls framework, has resulted in accelerated customer adoption and continued strong financial results. The company grew sales in excess of 60% year over year for the first half of its fiscal 2019 year.

“From record-breaking expansions with European and North American existing customers, including ABB and one of the leading hospital & healthcare providers, to continuing to sign new marquee enterprise customers, including two of the largest real estate firms in the world, we are incredibly proud of the accomplishments achieved in the first half of our fiscal year,” says Teresa Mackintosh, CEO at Trintech. “In addition, we are gaining rapid momentum with the expansion of our Adra solution into North America and our recent partnerships in APAC.”

Sample new customers across the Americas, EMEA and APAC regions that have adopted Cadency(R) by Trintech in the first half include: AA Plc, Kadant Inc., Potbelly Corporation, Saint Francis Hospital and Medical Center, William Hill US, and Xinja Bank. In addition, sample new customers across the Americas, EMEA and APAC regions that have adopted Adra(R) by Trintech include: Aker BioMarine Antarctic, Asian Trails, Hadeland Glassverk, Lindt & Sprungli, Plenty, Stendorren Fastigheter, and Wilhelmsen Chemicals.

“As we continue to extend our market leadership across the globe, we are finding that more companies are realizing the value of partnering with a leading software provider that has a portfolio of solutions that support the needs and requirements of any size organization without a one-size-fits-all mentality,” continues Mackintosh. “Whether companies are looking to accelerate and simplify their existing financial processes or embark on a full financial transformation, the customer conversations have fundamentally evolved. Organizations are looking to build for the future and Trintech is the answer.”

Over 300,000 users across more than 3,500 companies, including the majority of the Fortune 100, have partnered with Trintech to increase their efficiency and effectiveness, reduce costs, and improve governance and transparency across their finance and accounting processes. In the last 12 months alone, ten of Trintech’s customers are using its solutions to match over 6 billion transactions, demonstrating Trintech’s leadership in matching capabilities for the office of finance.

About Trintech 

Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure and fiduciary reporting and bank fee analysis, to governance, risk and compliance – Trintech’s portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, Trintech Disclosure Management(R), ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,100 clients worldwide – including the majority of the Fortune 100 – rely on the company’s cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

Media Contact:
Kelli Shoevlin
+1-972-739-1680 
Kelli.Shoevlin@trintech.com

Huifu Payment Revenue Grew 34%; Digital Transformation Shows Significant Gains

Huifu Payment Limited (01806.HK, “Huifu”) has announced its 2019 interim results. During the first half of 2019, the company had a payment transaction volume of 1.06 trillion, with YoY growth of 25% and operation revenue of 1.87 billion with YoY growth of 34%. Huifu realized gross profits of 460 million with YoY growth of 21 %, net profits of 142 million with YoY growth of 73%, and technology R&D equaling 123 million with YoY growth of 66%.

Focusing on Digital Strategy; SaaS Service Became a New Growth Point
According to the latest data released by the PBOC, the transaction volume of internet and mobile payments provided by third-party payment companies increased by 13.4% in the first quarter of 2019 over the same period last year. The payment industry is expected to maintain steady growth, while digitalization has become an important breakthrough point for its development.

According to a report produced by IDC, a research institution specializing in the science and technology market, the scale of China’s SaaS market is expected to exceed RMB 32.3 billion in 2021, and the compound growth rate from 2018 to 2021 is expected to exceed 30%. Huifu has seized development opportunities within the industry, continuously pushed forward a digital strategy and achieved remarkable results. According to interim results, in the first half of 2019, the transaction volume of SaaS services totaled RMB 76.2 billion, while operating income totaled RMB 199 million, an increase of 1338% and 1521% respectively from the same period last year. Meanwhile, emerging businesses showed geometric growth.

Huifu SaaS services mainly cooperates with SaaS providers in the new retail sector to provide converged payment services for merchants and improve value-added services such as financial technology and digital operations. Huifu has significantly improved its SaaS service capability and exceeded a 10-million-transaction daily trading peak through sustained financial technology empowerment. So far, Huifu has cooperated with 221 SaaS providers, an increase of more than 60%, compared to 137% at the end of 2018. 

In addition, Huifu and Weimob, a smart business service provider, jointly launched the “Weimob Smart Payment” solution in June 2019. Through the sharing of resources and complementary advantages, the two sides can empower small-mid size enterprises with intelligent payment, creating a “payment + marketing” closed loop, and jointly empowering the digital upgrading of intelligent commerce.

Thorough Business Layout; Helping All Industries Digitally Upgrade
In 2019, Huifu comprehensively implemented a core strategy of digitalization transition and continued to increase investment in Integrated merchants acquiring, SaaS service, Industry solutions, and Cross-border and International business.

Huifu Payment set its technology and data management committee under the board of directors to promote the company’s digital strategy, which was effectively executed. At the same time, Huifu also developed Industry solutions, actively expanded client networks such as Taikang Insurance and other famous merchants, and helped traditional industries like aviation, logistics, and supply chain management to complete digital transitions.

Previously, Huifu Payment cooperated with Jingtie Cloud Intelligent Logistics Co., Ltd. With Huifu’s Cnvex wallet, Jingtie Cloud Smart Logistics’ “Air net + ground net” multi-railway transportation system was able to cover its “Online + Offline” full transaction application scenarios.

Huifu’s Cross-border and International business efforts provided robust cross-border payment, finance and comprehensive service solutions to both domestic and foreign e-commerce organizations. During the period, the company accomplished a Cross-border and International business transaction volume of 20.8 billion with a rapid growth of 210% YoY. In exporting e-commerce, Huifu cooperated with financial institutions to launch a project that allows instant transaction processing + financing to release exporters’ supply-chain asset pressures. As for importing e-commerce companies, Huifu integrated merchants acquiring, custom transaction processing, accounts system establishment, cross-border settlement and other one-stop cross-border payment services. So far, Huifu is one of the leading payment company in the industry to provide a full-steps solution for overseas purchasing. Moreover, Huifu will receive the honor of The Best Cross-Border Payment Service Provider in July from CCPIT (China Council for the Promotion of International Trade).

Technology Changes Life; Huifu Promoted Business Mode Innovation
Huifu has always believed that “Technology Changes Payments” and has thus intensely focused on technological capability. With the technology application, capital power and resource integration abilities accumulated by Huifu through long-term development efforts, Huifu efficiently integrated account management system, payment transaction channel, and data value-added services. Huifu also focused on financial technological capabilities output based on payment.

In 2019, Huifu continued to increase technology R&D investment. As of June 30, 2019, R&D investment expenses reached 123 million, which grew 66% compared to the same period in 2018. Currently the percentage of R&D employees at Huifu reaches more than 43%, and the company is on the same playing field as other global tech leaders. Huifu’s daily transaction processing capability has reached a level of 100 million, 90% of which is based on cloud computing. Transaction stability achieved 99.997%. 

“Smart payment butler”, a payment solution wholly innovated and developed by Huifu, has won the fourth award of “Top 10 Financial Technology Innovations”, and Huifu has applied for five patents related to the solution. The project was also recognized as A level and a Shanghai high and new technology achievements transition program.

Additionally, the company has created an online tool for new retailing and cross-border business, which supports API and SDK for all payment services. Huifu is also developing an open technology platform that provides payment settlement, capital collection, accounts and value-added services, membership and marketing, data analysis and other functions, which could serve all business lines in the company, entrepreneurs and partners with open API. Through its shared service platform, Huifu is enhancing the automation, flexibility and measurability of all business operations by upgrading and rebuilding the flow and establishing a connection with clients. At the same time, Huifu provides data analysis and visualization tools to ease decision-making, marketing and employee empowerment, thus providing value-added services.

With current technology development trends, the new technology, including cloud computing, big data, artificial intelligence, 5G and block chain could bring unlimited possibilities for businesses. In the future, Huifu will keep designing new strategies and actively work towards digitalization transformation. The company will also promote business intelligence upgrading with partners in the supply chain, supported by leading technology and operations.

Huifu is dedicated to becoming a payment-tech company in a digital age, and the company’s future potential is expected to come from continued technical innovations. 

The 3rd China Reinsurance Catastrophe Risk and Insurance Summit & China Earthquake Catastrophe Model Press Conference was Successfully Held

On August 22nd, at the 3rd China Reinsurance Catastrophe Risk and Insurance Summit & China Earthquake Catastrophe Model Press Conference, China Reinsurance (Group) Corporation (China Re) launched “China Earthquake Catastrophe Model v2.0”, which is China’s first proprietary commercial earthquake catastrophe model certified by the Seismological Society of China. This is a milestone event that will fundamentally change China’s long dependence on foreign earthquake catastrophe models, and systematically improve the capacity of China’s earthquake catastrophe risk quantitative management.

Since the establishment of China Reinsurance Catastrophe Research Center in 2017, China Re has been holding the Catastrophe Risk and Insurance Summit for three consecutive years. Mr. Shen Rujun, General Manager of Central Huijin Investment Company, Mr. Niu Zhijun, Deputy Director-General of China Earthquake Administration, Mr. Dong Degang, Deputy Director-General of the Financial Department of the Ministry of Finance, Ms. Wang Simiao, Deputy Director-General of the Intermediary Supervision Department of China Banking and Insurance Regulatory Commission and Mr. Yuan Linjiang, Chairman of China Re, attended the summit and delivered speeches. Nearly one hundred experts from the Ministry of Science and Technology, the Emergency Management Department, seismological science research institutes and the insurance industry witnessed the launch of “China Earthquake Catastrophe Model v2.0” and conducted in-depth exchanges on earthquake catastrophe issues.

“China Earthquake Catastrophe Model v2.0” is an important achievement made by the government, academia and enterprises through their concerted innovation . In order to better develop this model, China Re initiated China’s first fin-tech company of catastrophe risk control – China Re Catastrophe Risk Management Company, and brought in a professional model development team with overseas working experience. China Re has integrated valuable scientific research and data resources with the support of professional research institutes including the Institute of Geophysics and the Institute of Engineering Mechanics of China Earthquake Administration. China Re applied for the State Key Research Project, “Earthquake Insurance Loss Assessment Model and Applications”, and received special fund from the Ministry of Science and Technology of China. The above-mentioned work ensured that the model development was completed within two years. Currently, the model has been recognized by the Seismological Society of China as a first-class international model. The model platform has also been tested and certified by authoritative software evaluation agencies, with complete technological verification certificates, user documents, technological documents, and training and operational service systems. The model is thus fully-qualified and ready for commercial use.

“China Earthquake Catastrophe Model v2.0” was well-received by summit attendees for its high scientific value, broad application scenarios and easy adaptation. Its high scientific value means that the model can simulate an random event set of up to 300 million earthquakes in China and its neighboring areas, in a time span of 5 million years. It is the first model that can accurately estimate economic and insured losses for tens of thousands of buildings with different construction types, building occupancies, heights, construction periods, and earthquake fortification levels. The fast simulation process delivers accurate data of China. Its broad application scenarios means the model can provide insurers a commercial product with detailed catastrophe risk zonings, risk limit control, swift assessment of insured losses, and optimization of reinsurance solutions. Furthermore, it helps government agencies and official units to quickly assess economic losses in earthquake aftermaths and assists government planning for earthquake prevention and relief. Its easy adaptation will offer customized solutions and an online-offline integration, allowing users to use this model both online or install it in their own system. The wide adaptation of this model will assist China’s insurance sector to further reduce foreign model dependency, improve self-independent science and technology strengths, cut cost and be more accurate in earthquake loss assessments.

Shen Rujun, General Manager of Central Huijin Investment Company, pointed out that as the “National Team” of China’s reinsurance industry, China Re has actively responded to the nation’s call and the development requirements of the insurance industry. The independently developed earthquake catastrophe model marks a major scientific breakthrough in China’s catastrophe risk control sector. Central Huijin Investment Company will support China Re’s efforts in establishing China’s catastrophe risk control system, and hopes that China Re will uphold its original aspirations unswervingly, fulfill its glorious mission as the national reinsurer to pool more wisdom and strengths for the progress of the insurance industry.

Niu Zhijun, Deputy Director-General of China Earthquake Administration, commented on the launch of China Re’s new model. The model actively promotes the commercial use of professional and technological innovation in catastrophe risk control area, and sets a milestone in China’s earthquake insurance development. Looking ahead, China Earthquake Administration will continue facilitating China Re’s progress in earthquake insurance, join hands with all relevant parties to raise public awareness in earthquake risk mitigation, and see that the common goal of minimizing earthquake risks being achieved.

Dong Degang, Deputy Director-General of the Financial Department of the Ministry of Finance, remarked that the government and the market must jointly build a catastrophe risk prevention mechanism, and this permits no delay. China Re’s new model provides valuable tools for decision-makers and relevant parties in their work of earthquake information quantifying and decision-making. The Ministry of Finance will continue supporting catastrophe insurance development, and discuss the possibility of a disaster prevention and relief system that incorporates catastrophe insurance. China Re will scale new heights and assume its reinsurance responsibilities in establishing the catastrophe risk control system.

Wang Simiao, Deputy Director-General of the Intermediary Supervision Department of China Banking and Insurance Regulatory Commission, pointed out that China Re’s proprietary model is a meaningful practice that echoes with national strategies and serves the development of the insurance industry. The model is hoped to improve the technological level of China’s catastrophe risk control and play its unique role in supporting national strategies.

Yuan Linjiang, Chairman of China Re, said that the Central Committee of the CPC specifically pointed out that we must build an effective and scientific natural disaster prevention and control system. Reinsurance is an indispensable part in the nation’s catastrophe risk control system building process. The release of “China’s Earthquake Catastrophe Model v2.0” injects new momentum into the insurance industry’s deep involvement in earthquake disaster prevention and mitigation. It is a milestone, filling China’s blank of a proprietary and controllable earthquake catastrophe model that fits the nations needs. Additionally, it is a fruitful result in implementing China Re’s strategies of “One Core, Three Breakthroughs and Five Leaps” and “Platform-Orientation, Technology Application and Globalization”. Together with its fellow partners, China Re will carry on building this professional, innovative, open and shared catastrophe platform for the insurance industry, supporting technological breakthroughs and the application of catastrophe risk control model, and making due contributions to the building of China’s modern risk control system.

The summit focused on China’s seismic risk control and insurance practices. Ou Jinping, Academician of Chinese Academy of Engineering, Gao Mengtan, former Deputy Director-General of the Institute of Geophysics of China Earthquake Administration, Wang He, Vice Chairman of China Association of Actuaries, Zhang Jianguo, Chief Engineer of Yunnan Seismological Bureau, Ryan Crompton, General Manager of Australia Risk Frontiers, Paul Somerville, Chief Geoscientist of Australia Risk Frontiers, Chen Sen, Chief Actuary of China Pacific Life Insurance Co. Ltd., Fan Jiemin, General Manager of the Group Property Insurance Department of China Pacific Life Insurance Co. Ltd., Li Xiaojun, Secretary-General of Seismological Society of China, Zuo Huiqiang, Chairman of China Re Catastrophe Risk Management Company, Feng Jian, General Manager of China Re Catastrophe Risk Management Company, Zhou Junhua, Deputy General Manager of China Re Catastrophe Risk Management Company, and other local and international experts and insurance industry veterans, conducted in-depth discussions and exchanged ideas on topics such as China’s earthquake model development and commercial application, earthquake emergency control system establishment, post-earthquake reconstruction, earthquake insurance pilot application, and international earthquake insurance experiences.

He Chunlei, Vice Chairman and President of China Re, hosted the summit, and commented that the launch of China Re’s earthquake catastrophe model marks a new beginning of the company’s contribution to China’s modern risk management. China Re will leverage China Re Catastrophe Risk Management Company as an innovative platform to integrate resources from all parties, and accelerate the establishment of China’s catastrophe insurance industry infrastructure. China Re will continue assisting the Chinese government and the insurance industry to improve their catastrophe risk control capabilities, and safeguarding the good life of the Chinese people.

Sany International 2019 interim profit surged 54.1% to RMB551.7 million on robust revenue growth, better cost control and successful market expansion

Sany International Holdings Company Limited (“Sany” or the “Company”, together with subsidiaries, the “Group”; HKSE stock code: 631) announced today its unaudited interim results for the six months ended 30 June 2019 (“1H2019”).

FINANCIAL HIGHLIGHTS

– For 1H2019, the Group recorded revenue of approximately RMB3,043.7 million, up 38.6% from approximately RMB2,196.0 million for 1H2018. Such increase was mainly due to (1) higher demand for improvement and replacement of coal machinery equipment and the coal industry’s accelerated development towards intelligent, unmanned, green and high-efficiency mining, higher revenue from the mining equipment segment; (2) the launch of large-scale port machinery into domestic mainstream ports and multiple river terminals due to improvements in brand influence; (3) the focus on R&D and innovation strategy that optimized product performance and quality and accordingly enhance market competitiveness; and (4) remarkable results from expansion to international markets.
– For 1H2019, the Group’s profit margin before tax was approximately 21.0%, up 0.7 percentage points from the 20.3% for 1H2018, mainly due (1) actively controlled costs and increased product gross profit margin, especially the margins of integrated mining products, roadheaders and stacking machines; and (2) management expenses ratio (excluding R&D expenses) against revenue and lower selling expenses ratio against revenue due to digital transformation and improvement on internal operation efficiency.
– For 1H2019, the research and development expenses were approximately RMB209.2 million, up approximately 145.5% from approximately RMB85.2 million for 1H2018. For 1H2019, research and development expenses accounted for approximately 6.9% of revenue, up 3.0 percentage points from approximately 3.9% for 1H2018, mainly due to higher investments in R&D on new products, including Smart Mine, Intelligent Terminal, tunnel roadheader, integrated excavation, bolting and self-protection machine, unmanned electric truck, telehandler, automatic bridge and wide-bodied vehicles.
– For 1H2019, the Group’s profit attributable to owners of the parent was approximately RMB551.7 million, up 54.1% from approximately RMB358.0 million for 1H2018. Basic earnings per share for 1H2019 were RMB0.18, up from RMB0.12 for 1H2018.
– The Board resolved not to declare any interim dividend for 1H2019 (1H2018: Nil).

For 1H2019, the Group recorded revenue of approximately RMB3,043.7 million, representing an increase of approximately RMB847.7 million, or 38.6%, from approximately RMB2,196.0 million for the six months ended 30 June 2018 (“1H2018”), mainly due to (1) the continuous increase in the demand for improvement and replacement of coal machinery equipment, and the coal industry’s accelerated development towards intelligent, unmanned, green and high-efficiency mining; (2) the launch of large-scale port machinery into domestic mainstream ports and multiple river terminals, leveraging improvements in brand influence; (3) the focus on R&D and innovation strategy that optimized product performance and quality; and (4) the remarkable results from expansion to the international markets. 

For 1H2019, the Group’s profit attributable to owners of the parent was approximately RMB551.7 million, up 54.1% from approximately RMB358.0 million for 1H2018. Basic earnings per share for 1H2019 were RMB0.18, up from RMB0.12 for 1H2017. The Board resolved not to declare any interim dividend for 1H2019 (six months ended 30 June 2018: Nil).

For 1H2019, the Group’s profit margin before tax was approximately 21.0%, up 0.7 percentage points from the 20.3% for 1H2018, mainly due (1) actively controlled costs and increased product gross profit margin, especially the margins of integrated mining products, roadheaders and stacking machines; and (2) management expenses ratio (excluding R&D expenses) against revenue and lower selling expenses ratio against revenue due to digital transformation and improvement on internal operation efficiency.

For 1H2019, the research and development expenses were approximately RMB209.2 million, up approximately 145.5% from approximately RMB85.2 million for 1H2018. For 1H2019, research and development expenses accounted for 6.9% of total revenue, up approximately 3.0 percentage points from approximately 3.9% for 1H2018, mainly due to higher investments in R&D on new products, including Smart Mine, Intelligent Terminal, tunnel roadheader, integrated excavation, bolting and self-protection machine, unmanned electric truck, telehandler, automatic depot container crane and widebody vehicles. For 1H2019 the Group obtained 14 authorized patents, including 5 invention patents, 7 utility model patents, 1 design patent and 1 software copyright. The Group has maintained its leading position in the small port machinery sector in the Asia-Pacific region and actively explored the North American market with new products.

The average turnover days of inventory were approximately 136.8 days as at 30 June 2019, down approximately 57.4 days from approximately 194.2 days as at 30 June 2018, mainly due to higher sales and strengthened control over inventories. The turnover days of trade and bills receivables as at 30 June 2019 were approximately 216.7 days, down approximately 17.4 days from approximately 234.1 days as at 30 June 2018, mainly due to greater efforts in the collection of trade receivables. The turnover days of trade and bills payables as at 30 June 2019 were 155.0 days, down approximately 9.0 days from approximately 164.0 days as at 30 June 2018, mainly due to the shortened payment cycle to the suppliers in return for the best delivery time to meet the high demand for the Group’s production.

For full announcement of the interim results, please refer to the link below:
https://www1.hkexnews.hk/listedco/listconews/sehk/2019/0821/ltn20190821473.pdf

About Sany Heavy Equipment International Holdings Limited

Sany Heavy Equipment International Holdings Company Limited is principally engaged in coal mining equipment and port machinery businesses. The Company operates through two sectors. (1) the energy equipment business sector, which includes coal machinery business products, such as roadheaders (all types of soft rock, hard rock roadheader and integrated excavation, bolting and self-protection machine) and CCMU; the non-coal business products, such as mining transport equipment (mechanical drive off-highway dump truck, electric drive off-highway dump truck, articulated truck), underground coal mining vehicle and excavation equipment (tunnel and excavation series) and other products; and (2) the marine engineering business sector, which includes large port machinery products including reach stacker, container stacking machine and quayside container crane, small port machineries such as front loader and heavy forklift. 

IVD Medical announces 2019 Interim Results; Profit surges 897.3% to RMB 350 million

IVD Medical Holding Limited (“IVD Medical” or the “Group”), a leading distributor of In Vitro Diagnostic (“IVD”) products in the PRC, has announced its interim results for the six months ended 30 June 2019 (“Period”), which represents the first results announced by the Group since its listing on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”). 

The Group has been able to seize emerging development opportunities in the industry, and steadily increase its market share and profits by taking advantage of its competitive and diverse product portfolio, extensive distribution network and hospital coverage. During the Period, the Group recorded revenue of RMB 912,763,000, representing a significant increase of 434.1% as compared with the corresponding period of last year. Profit for the Period significantly increased by 897.3% to RMB 350,667,000 thousand. Such significant increase was primarily due to the consolidation of the financial results of Vastec Medical Limited (“Vastec”) together with its subsidiaries following completion of the acquisition of Vastec, and growth resulting from the continuous development of the Original Group’s distribution business.

To reserve sufficient capital for business development, the Board proposed to not pay an interim dividend for the six months ended 30 June 2019. 

Business Review

The Group is a leading distributor of IVD products in the PRC. In 2018, Vastec was the fourth largest Tier-1 IVD distributor in the PRC, and the Original Group was the third largest distributor in the Shanghai IVD market. The Group also engages in the research, development, manufacturing and sale of its self-branded IVD products under the brand name “IVD”.

Distribution business
The distribution of IVD products forms the cornerstone of the Group’s business. It primarily is involved in the trading of IVD analysers, reagents and other consumables to customers such as distributors, hospitals and healthcare institutions, and logistics providers.

The Group acquired the remaining 60% equity interest in Vastec in January 2019. After Vastec became the Group’s wholly-owned subsidiary, revenue from the distribution of IVD products through Vastec was consolidated into the Group. Vastec is the sole national distributor of Sysmex’ haemostasis products with exclusive distribution rights in the PRC since 1997. It also procures a diverse portfolio of IVD products from other leading international brands and distributes them in the PRC. On 1 April 2019, Vastec and Sysmex entered into a new distribution agreement which extended the term until 2022. This newly signed agreement will further stabilize relations between Vastec and Sysmex. During the Period, there were approximately 6,742 Sysmex haemostasis analysers installed by the Group at hospitals and healthcare institutions accumulatively. The existing and rising installation will create continuous demand for reagents, thus generating stable recurring income for the Group. 

At the same time, Vastec began to provide 4 Thrombotic Markers to the market. These new products are manufactured by Sysmex with high sensitive chemiluminesence technology, which may help the early diagnose of thrombosis and fibrinolysis. They are aimed at expanding the Group’s product portfolio and are supplementary to the Group’s current products. During the Period, there were approximately 31 Sysmex analysers installed by the Group at the hospitals and healthcare institutions, and the use of 4 Thrombotic Markers has commenced.

In addition, the Group provides solution services to the clinical laboratories of hospitals through Dacheng Medical Equipments (Shanghai) Co., Ltd. (“Dacheng”), a wholly-owned subsidiary of the Group. This has enabled the Group to establish and maintain direct relations with local medical practitioners so as to keep the Group close to the frontlines of the medical practice and the market demand for IVD products. In 2018, Dacheng provided solution services to two Class III hospitals in the PRC (located in Shanghai and Shanxi, respectively). During the Period, Dacheng actively expanded its business by providing solution services for a third hospital that is located in Shandong Province, and has successfully recognized revenue. The Group has established an expansive distribution network that covers 29 provinces, municipalities and autonomous regions in the PRC through extensive hospital coverage. As of 30 June 2019, the Group had 183 direct customers, including hospitals and healthcare institutions, and 737 distributors. The Group also covered 1,272 Class III hospitals mainly through its sub-distribution networks in the PRC, which has further enhanced the competitiveness of the Group. 

Maintenance services
Apart from distributing IVD products in the PRC, the Group also derives revenue by providing maintenance services to end customers of Sysmex’ haemostasis analysers in the PRC. In 2017, Vastec entered into a maintenance services agreement with Sysmex to provide maintenance services for the haemostasis analysers of its end customers. The maintenance services provided by Vastec generally include maintenance and repair services, installation services and end customer training. Vastec primarily provides its maintenance services to hospitals and healthcare institutions. During the reporting period, the maintenance services business was able to sustain steady development.

Self-branded products business
During the years ended 31 December 2017 and 2018, there was a factory reset, which involved the adjustment and calibration of self-branded IVD analysers of the Group, for adapting the self-branded IVD analysers of the Group that are originally designed for use in the outpatient department to now operate in the emergency department of hospitals. The factory reset for the upgrade of self-branded IVD analysers of the Group can improve users’ satisfaction and will have positive effects on the self-branded business of the Group in the long run. The manufacturing and sale of such IVD analysers re-commenced in June 2019. 

Outlook
In the future, the Group will continue strengthening and expanding its business operation in the PRC. To realize this goal, the Group aims to continuously expand its product portfolio by diversifying product categories, increasing brand coverage and further expand the breadth of distribution network and hospital coverage. In this way, the Group will be able to capitalize on the high growth potential of the IVD market.

Concurrently, the Group will continue to develop its distribution business by enhancing its capacity to provide solution services. By being the general supplier of their clinical laboratory department, the Group is involved laboratory layout design, provides centralized procurement of IVD products, conducts real-time inventory monitoring and delivers other after-sale services to clinical laboratories. It also plans to provide solution services for up to two new hospitals in 2019. Moreover, the Group will continue participating in national and local IVD symposiums, as well as academic conferences to raise brand awareness. 

In addition, the Group believes that strong research and development capabilities are critical for securing its future development and sustainable growth. It will therefore invest more resources in improving its research and development capabilities, including acquiring equipment and instruments, and hiring experts from relevant fields. The Group will also engage in research projects to further develop self-branded IVD products that hold promising market potential. The Group is keen as well to further strengthen product quality management, and optimize the performance and applicability of its self-developed products to enhance the Group’s competitiveness in the market.

Mr. Ho Kuk Sing, Chairman of IVD Medical, said “The year 2019 is important in the Group’s development history. Our listing on the Main Board of HKEX is a milestone in the Group’s business development and has enhanced the brand recognition of IVD Medical. We are also encouraged by the Group’s first interim results performance. After completing the acquisition of Vastec, we will be able to further integrate our distribution value chain, which will help drive the Group’s future development.” 

Mr. Leung King Sun, COO of the Group, added, “The Group is optimistic about the prospects of the PRC’s healthcare market, in particular, the medical device market which shows significant growth potential. The IVD market is expected to grow further with the aggravating trend of aging population, increase in medical expense per capita and technological advancement in recent years. Looking ahead, we will continue to diversify our product mix, distribution network and hospital coverage so as to enhance our capacity to provide solution services to hospitals and further improve our product research and development capabilities. We will also seize opportunities that allow us to realize sustainable business growth and boost shareholder value.” 

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

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

Infinito partners with Cocos BCX for Next-Gen Digital Game Economy

Infinito, the company behind Infinito Wallet, has partnered with Cocos-BCX (Cocos BlockChain Expedition), the leader in the next generation digital game economy, to bring Cocos-BCX’s decentralized applications and assets, including Cocos-BCX Mainnet and Token, to Ecosystem members this year.

Blockchain is expected to transform the gaming industry by giving immense opportunity and competitive advantage to games built on its platform. Decentralized gaming applications dominate DappRadar’s ranking list, comprising over 20% of DApps on the market and some of the largest active consumer bases. The most popular blockchain games currently boast over 3,000 daily users compared to decentralized exchanges which top out at about 1,000. Many agree that gaming is the killer application of blockchain.

As one of the largest gaming developer communities with over 1.1 million developers, Cocos-BCX is a decentralized gaming and digital asset development platform integrated with the Cocos engine. Its goal is to provide an end-to-end blockchain gaming infrastructure which removes technical barriers and enhances efficiency for game developers. At the same time, Cocos-BCX creates an economic model of digital assets to help both developers and players commercialize and monetize generated content and data.

Through this collaboration, Infinito will become a strategic wallet partner of Cocos-BCX via integration of Cocos-BCX token and later, Cocos-BCX Mainnet. This allows global users of Infinito Wallet to access, in total, 14 blockchains and their decentralized assets, along with some of the most-demanded gaming DApps on the market. Infinito and Cocos-BCX’s joint activities such as AMA, Airdrop or Reward programs are expected to be held around November this year to promote this partnership and offer their users valuable benefits.

Cocos-BCX will become a part of Infinito Ecosystem by introducing NHAS 1808, their non-homogeneous token standard which improves on existing NFT standards. This new token protocol aims to provide a complete and convenient development environment for game developers and drive the revolution of the blockchain game industry. With the listing of INFT token on exchanges soon, this project is making strides towards blockchain mass adoption.

Currently, Infinito Wallet supports top-tier cryptocurrencies from popular blockchain platforms including Bitcoin, Ethereum, Bitcoin Cash, Binance Chain, EOS, Litecoin, Stellar, Cardano, DASH, NEO, Dogecoin, Ontology, and TomoChain, along with token protocols ERC20, BEP-2, EOS, and NEP-5. The company’s ecosystem is rapidly growing, as evidenced by the number of its global partners.

About Cocos-BCX
At Cocos, we believe that games will be the first and foremost user-facing application built on a blockchain. This is why we decided to launch Cocos-BCX (Cocos Blockchain Expedition) with the goal to create an open system where game developers can have access to a new game engine and development environment supporting multiple blockchain systems. https://www.cocosbcx.io/

About Infinito
Infinito aims to create a perfect blockchain experience for users, applications and developers through its product Ecosystem which includes Infinito Wallet, Infinito App Square, Infinito Blockchain Platform, and InfinitoPAY. It is backed by a team of 50+ professionals with intensive and diverse experiences in blockchain technology, including technical developers and researchers, business and marketing executives, designers, quality control engineers and customer service officers. Infinito, founded in 2016, is proudly based and registered in Singapore.

Official Infinito website: https://infinito.io
Infinito Ecosystem: https://www.infinito.io/ecosystem
Global Telegram: https://t.me/infinitowallet
Telegram announcement board: https://t.me/infinito_announcements

Blockpass to list PASS on GlenBit from 16 August

Blockpass has announced that it will list its native utility token, PASS on Scotland-based cryptocurrency exchange GlenBit beginning on 16 August 2019. The announcement comes off the back of the earlier news that GlenBit has integrated the Blockpass KYC Connect platform for easy and streamlined KYC verification of its users.

To kick off the listing and celebrate the successful integration, Blockpass has announced it will give 400 PASS tokens to the first 1000 users of the GlenBit platform who complete their KYC using the Blockpass App.

GlenBit is a blockchain assets exchange platform headquartered in Edinburgh, United Kingdom. Its technical and operational teams are spread over Europe and Asia Pacific region, with offices based in Tokyo, Beijing, Zhengzhou and Shenzhen. The birth of GlenBit is the convergence of advances in traditional commerce, financial technology and artificial intelligence.

Blockpass is a one-click compliance gateway to financial services and other regulated industries. PASS is a first-in-kind KYC-forward token, bringing a global stand of regulatory compliance to the tokenization of assets.

“Seeing this integration and listing go live brings to life our core mission of simplified compliance processes and a broader Blockpass ecosystem,” said CEO Adam Vaziri. “We are constantly working to bring more services into our ecosystem and list PASS on more exchanges and GlenBit is another great service offering we are proud to work with.”

Blockpass recently launched the all-new Blockpass Marketplace, a gateway to campaigns, financial services and regulated industries. To celebrate, Blockpass announced the Blockpass Quiz, offering users of the Blockpass platform the chance to win $1000 USD in PASS. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. Blockpass is seeing rapidly increasing numbers of users in the past few months as its identity verification solution is used for ICOs, STOs and IEOs, supporting a number of successful fundraisers in the past few months. The Blockpass App is available from the App Store and Google Play.

About Blockpass IDN

Blockpass offers digital identity verification for businesses that participate in regulated industries, including crypto wallets and exchanges, virtual banks, traditional financial institutions and gaming. Blockpass provides an alternative process to cumbersome, repetitive and expensive Know Your Customer (KYC) and Anti-Money Laundering (AML) verification through an easy-to-use mobile application and seamless merchant dashboard. For individuals, Blockpass is a secure, user-centric gateway to financial services and other regulated offerings, allowing one click KYC submission. Blockpass alleviates the pain of opening new accounts and redoing KYC over and over. Registered in Hong Kong, Blockpass IDN is a joint venture of Infinity Blockchain Labs and Chain of Things. Blockpass IDN licenses its technology from the non-profit Blockpass Foundation, registered in the Isle of Man.

For more information and updates, please visit and sign up to the following:
Promotional video: https://youtu.be/SvO2cw3e-SI
Website: http://www.blockpass.org
Medium: https://medium.com/@blockpass
Twitter: https://twitter.com/BlockpassOrg
Facebook: https://www.facebook.com/blockpassorg/
Telegram: https://t.me/blockpass

Contact: Caitlin Fargo, +852 9733 4935, press@blockpass.org

About GlenBit

GlenBit is a blockchain assets exchange platform headquartered in Edinburgh, United Kingdom. Its technical and operational teams spread over Europe and Asia Pacific region, with offices based in Tokyo, Beijing, Zhengzhou, Shenzhen, etc. The birth of GlenBit is the convergence of advances in traditional commerce, financial technology and artificial intelligence, bringing together the elites in the related areas as founding members.