Tag: China

BYD Builds One-millionth New Energy Passenger Car

BYD is celebrating a significant production milestone by becoming one of the first new energy vehicle manufacturers globally to produce one million electric passenger cars. The one-millionth car, the Han EV, rolled off the production line today at BYD’s headquarters and manufacturing facility in Shenzhen.

VIPs from government departments, industry associations, BYD’s partners and suppliers
At BYD’s global headquarters, car owners assembled their vehicles in a specially choreographed display forming the number ‘1,000,000’ to help celebrate the milestone
Rolf Petter Almklov, Commercial Counsellor, Royal Norwegian Embassy in Beijing and Wang Chuanfu, Chairman and President of BYD at the ceremony

At a special ceremony this week, VIPs from government departments, industry associations, BYD’s partners and suppliers, more than 400 media guests, and about 100 BYD vehicle owners gathered to mark the occasion.

The landmark moment in BYD’s history coincides with the announcement that the first batch of 100 pure-electric BYD Tang SUVs are now ready for delivery to Norway – with the Scandinavian country selected as the platform for BYD’s ambitious plans in the European passenger car market. BYD also announced that a total of 1500 Tang SUVs will be delivered to Norway before the end of the year as the company commits to accelerating its European and global strategies. The initial 100 cars are scheduled for delivery to Norwegian customers in the third quarter of this year.

BYD’s one-millionth new energy passenger car rolls off the production line

BYD’s pioneering work in the development of battery technology and new energy vehicle (NEV) manufacturing has led the new energy revolution in the global automotive industry since the company’s emergence in 2003 – spearheaded by innovative technologies and a well-calibrated global business strategy. In 2004, BYD unveiled its all-electric concept car, the ET, at the Beijing Auto Show, marking the premiere debut of an NEV model. This was followed in 2008 when the world’s first mass-produced plug-in hybrid NEV – the F3DM – was officially unveiled. Then, in 2020, the BYD Han was launched with performance specs setting twelve records globally and nine in China. The BYD Han continues to be a top-selling model in the mid-to-large luxury sedan sector, and with the credentials to rival models from the three German luxury car giants.

“BYD shoulders the responsibility and mission of upward development for China’s new energy vehicle brands,” said Wang Chuanfu, Chairman and President of BYD Co., Ltd. “From zero to one million vehicles, this is BYD’s response to the call for global auto industry transformation. It also sets a benchmark in the journey of the new energy vehicle industry in China starting from nothing, alongside the greater national journey for a country dominated by traditional automobiles to one that is a leader in the field of sustainability.”

Customers first and foremost

“The journey to one million vehicles would not be possible without the support of car owners every step of the way,” he added, “and BYD recognizes that the ‘green dream’ can only be achieved hand-in-hand with all our customers.”

With this close relationship with customers in mind, BYD has invited ten of its NEV customers to attend the ceremony, including the owners of the 100,000th and the one-millionth vehicles to join BYD as it celebrates its work in helping move towards a better, more sustainable future.

In the central square of BYD’s global headquarters, another eighty BYD car owners assembled their vehicles in a specially choreographed display forming the number ‘1,000,000’ to help celebrate the milestone.

First 100 BYD Tang SUVs head for Norway with 1500 units scheduled in 2021

Alongside news of the production of its one-millionth passenger car line, BYD has also confirmed its entry into the European market with the first 100 pure-electric BYD Tang SUVs on their way to Norway. The northern European country has been selected to kick off BYD’s journey towards a successful presence in the burgeoning NEVs market in Europe.

With Rolf Petter Almklov, Commercial Counsellor, Royal Norwegian Embassy in Beijing, alongside Wang Chuanfu, Chairman and President of BYD, the first batch of 100 Tang SUVs will be shipped at the end of May and delivered to local customers in Norway during the third quarter of this year. Also before the end of 2021, BYD plans to deliver a total of 1500 Tang SUVs to Norway, underlining a significant commitment from BYD to its new Scandinavian market and its European neighbors.

With decarbonization high on the political agenda in Europe, BYD’s entry into the passenger car market comes at an important time. The BYD Tang EV provides serious competition for the more established European brands, with its stylish design and new technologies providing a compelling proposition for new car buyers. Central to its technology credentials is the new ultra-safe, space-saving Blade Battery, with performance figures including a class-leading range of up to 505km (NEDC) and acceleration from 0-100 km/h in just 4.6-seconds from its 86.4 kWh capacity.

BYD describes its new business in Norway as the ‘start of the European dream’ with respect to its passenger car ambitions. A key differentiator for BYD is its commitment to bringing only pure-electric, 100% emissions-free cars to market – a strategy supported by BYD’s electric bus product range and its leading position in eBus markets right across Europe.

Working side-by-side with leading supply-chain partners to forge the way

The key to realizing BYD’s dreams has been the support of leading supply-chain partners. At today’s ceremony, Wang Chuanfu made special reference to ZF Friedrichshafen AG, Fuyao, Valeo and others, while stating BYD’s intention to join hands with even more partners in a joint endeavor to lead the transformation of the global automotive industry and to forge the way ahead for electrification.

The replacement of the internal combustion engine with new energy vehicles – and specifically battery electric vehicles – is crucial for reducing dependence on fossil fuels, ensuring national energy security, and further achieving the goal of ‘peak carbon by 2030 and carbon neutrality by 2060’. As a principal participant and major force in the new energy automotive industry, BYD will continue to work with partners, suppliers and customers, to push ahead and realize the dream of green travel.

About BYD

BYD Company Ltd. is one of China’s largest privately-owned enterprises. Since its inception in 1995, the company quickly developed solid expertise in rechargeable batteries and became a relentless advocate of sustainable development, successfully expanding its renewable energy solutions globally with operations in over 50 countries and regions. Its creation of a Zero Emissions Energy Ecosystem – comprising affordable solar power generation, reliable energy storage, and cutting-edge electrified transportation – has made it an industry leader in the energy and transportation sectors. BYD is listed on the Hong Kong and Shenzhen Stock Exchanges. More information on the company can be found at http://www.byd.com.

Contacts
Asia-Pacific: Mia Gu
mia.gu@byd.com; tel: +86-755-8988-8888-69666
North America: Frank Girardot
frank.girardot@byd.com; tel: +1 213 245 6503
Latin America: Mariana Osorio
mariana.osorio@byd.com; tel: +56 9 8588 0333
Brazil: Adalberto Maluf
adalberto.maluf@byd.com; tel: +19 3514 2554
Europe: Penny Peng
penny.peng@byd.com; tel: +31-102070888

SPIC paves way for poverty alleviation in NW China’s Yanchuan

State Power Investment Corporation Limited (SPIC), one of the biggest renewable energy companies in China, has well fulfilled its social responsibility as an enterprise and given a big leg up to poverty alleviation efforts in Yanchuan county, Yan’an, northwest China’s Shaanxi province.

Since 2013, SPIC and the county government have built four modern agriculture demonstration parks and helped establish 974 greenhouses equipped with solar panels. (SPIC).VIDEO：https://youtu.be/r_D1SS9SG_k

Since 2013, the SPIC and the county government have built four modern agriculture demonstration parks and helped establish 974 greenhouses equipped with solar panels. The company increased income for more than 500 householders, as each of the greenhouses brings in an average annual income of 40,000 yuan ($6,165).

New functions were added to the greenhouses last year with the assistance of the SPIC, such as automatic monitoring, sensing, and controlling, which enables operators to control the smart equipment in the greenhouses on a mobile app.

Apart from the efforts made to scale up Yanchuan’s agricultural industry, the SPIC also introduced a clothing factory to help local people improve their income, said Wang Wei, Party chief of Shuangmiao village in the county.

Established on July 24, 2018, the clothing factory now has 12 assembly lines with a monthly output of 100,000 pieces of garments and employs 242 local people, including impoverished residents. After the phase-2 project of the factory is completed, another 100 jobs will be created for poor residents from local communities.

Besides, the SPIC also built rural roads and installed solar street lamps in Yanchuan county, and is attempting to reduce poverty by improving local education.

Media contact:
Steven Hu, SPIC
E: 821081555@qq.com
http://www.spic.com.cn

FUZAMEI Launches ’33 Charity’ Blockchain Tracing Platform

Hangzhou FUZAMEI has launched ’33 Charity’, a shared blockchain platform for tracing information, registration and storage. The Company has also donated RMB 40,000 and purchased RMB 60,000 in medical materials for Hubei charity organizations, responding to the present epidemic.

As a blockchain innovater, FUZAMEI believes that transparent and open blockchain technology is the key to solving problems in the social trust system. Therefore, it has created shared blockchain system ’33 Charity’ Tracing Platform, to be used for information release, registration and storage.

’33 Charity’ Tracing Platform aims to coordinate various parties including charitable organizations by adopting blockchain technology to improve the efficiency of charitable cooperation, increase the transparency and credibility of charity, and contribute to improving the social trust.

’33 Charity’ Tracing Platform, Reshaping Social Trust System

With ’33 Charity’, donors and donees can issue demands on the chain in their own names. For example, hospitals can apply for CA certificates through identity authentication agencies to obtain signatures, so that donors can know the needs of the hospitals and avoid mistakes. At the same time, CA certificates can also be matched with various suppliers and logistics parties, making the whole donation process open.

Users register donor and volunteer data independently or according to authoritative announcement sources on the ’33 Charity’ Tracing Platform. ’33 Charity’ Tracing Platform allows each enterprise or individual to socialize their donations through the blockchain. It makes charity behavior open in the public, reshapes the social trust system and allows the spirit of charity to be passed along: the first step towards charity transparency.

FUZAMEI holds that the charity platform will also become an important tool for personal credit investigation in the future, such as citizen contributions, volunteer credits, blood donation certificates and other scenes, all of which can be mapped in the blockchain.

About Hangzhou FUZAMEI Technology Co.
FUZAMEI builds “blockchain+” applications in the fields of people’s livelihoods: public welfare, social assistance, education, employment, pension, precise poverty alleviation, medical and health care, commodity anti-counterfeiting and food safety. For more information, please visit www.33.cn.

Media contact:
Hangzhou FUZAMEI Technology Co.
Contact: Edwin
Email: support@33.cn
Website: https://www.33.cn

ITES 2020: An Exhibition of World-class Brands Leading the Smart Factory Revolution

ITES 2020 (Shenzhen International Industrial Manufacturing Technology Exhibition) will be held in Shenzhen, China’s innovation center & manufacturing hub, from March 30th to April 2nd, 2020. Since its establishment in 2000, ITES has developed into an international exhibition, authorized by UFI and certified by BPA. This year’s exhibition will cover 12 halls (240,000 sq.m) at the Shenzhen World Exhibition & Convention Center (Shenzhen World), and will focus on digital, intelligent, personalized and innovative technologies and solutions for different industries.

A manufacturing exhibition born in Shenzhen, ITES has been pivotal in the transformation from ‘Made in China’ to ‘Created in China’. Shenzhen enjoys Free Trade Zone status, a window on reform and opening up, and an essential reason ITES settled here. Shenzhen supports its manufacturing industry, and many local brands such as Han’s Laser, Taikan, BYD and DJI have flourished. Standing at the intersection of the new industrial revolution and the digital economy, today’s ITES continues its focus on the future of manufacturing.

ITES exhibits manufacturing for metal cutting, metal forming, digital manufacturing technology, IIOT, robotics & automation applications, additive manufacturing, industrial measurement, cutting tools and precision parts processing. ITES also exhibits efficient technology and business communication platforms for processing manufacturers from hubs around the world. 8 themed exhibitions will link to thousands of domestic and overseas brands (30+ countries) covering the entire industrial chain, with the latest innovation achievements in advanced manufacturing.

Highlights: Metal Cutting Machine Tools Exhibition (Halls 5/7):

a) Pavilion for 3C products (cell phones), precision molds, medical devices, and other industries.
Precision processing equipment is used in 3C product manufacturing including precision molds, medical device, and other industries. Representative exhibitors of this pavilion include Mitsubishi, Beijing Jingdiao, Precitrame, Mikron, +GF+, Sodick, Swic and, CHMER, among many more.

b) Pavilion for automotive, die & molds, aerospace, and other industries.
ITES 2020 sets out a five-axis/gantry machining pavilion to meet the huge demand from automobile, die & molds, aerospace, and other industrial chains. Brands such as Mazak, Makino, Haas, Doosan, Nicholas, Otaki, Haitian Precision, Vision Wide, Hurco and Roders will show new products and technologies on-site.

Highlights: Metal Forming Machine Tools Exhibition Highlights (Halls 6/8) :

a) Bending automation technology breaks the bottleneck of sheet metal processing.
ITES 2020 sets out a dedicated exhibition area for sheet metal automation equipment. Branded exhibitors including Bystronic, Yawei, JFY, Accur Press, Tailift, EKO and Yangli Group will gather to solve the many difficult problems in sheet metal processing.

b) Multiple sheet metal processing companies compete for 10,000-watt laser market.
10 KW to 20 KW ultra-high-power laser cutting machines for aerospace, railway transportation, engineering machinery and construction steel structures. Sheet metal brands such as Penta Laser and Lead Laser will display 10KW laser equipment, while branded exhibitors including HG Laser, HSG Laser, Quick Laser, HE Laser, Bodor, Hysmson and IPG will also display products on-site.

Other Themed Exhibition Highlights:

a) Tools & Industrial Consumable (Halls 1/2) – Contains toolings, machine tool accessories, super-hard materials, jigs & fixtures, hardware & tools, industrial design & customization service, logistics supply chain service and industrial park service.

b) Industrial Measurement & Digital Manufacturing (Hall 3) – Includes industrial measurement (coordinate measuring machine, laser tracker, on-machine measurement system, photogrammetry, optical measuring machines, measuring tools), digital solutions.

c) Additive Manufacturing Technology (Hall 4) – Gathering upstream and downstream enterprises among 3D printing equipment, scanners, software to present the advantageous AM applications for the South China manufacturing industry.

d) Industrial Supply Exhibition (Hall 4) – Creates a complete eco-industry chain and the sourcing platform with different industrial supply materials, covering molds and accessories, fasteners, metal materials, surface treatment.

e) Robotics & Smart Factory Exhibition (Halls 9/10/11) – Including three dedicated exhibition halls for robot & non-standard automation equipment, industrial controller, sensor & connector, mechanical transmission & actuator integrated application.

About ITES

ITES (Shenzhen International Industrial Manufacturing Technology Exhibition) is an annual, large-scale exhibition for the manufacturing industry held in Shenzhen, South China since 2000. Known formerly as SIMM (Shenzhen International Machinery Manufacturing Industry Exhibition), ITES is authorized by the UFI (International Exhibition Industry Association) and BPA (International Media Certification Body). ITES 2020 is expected to feature at least 2,000 local and international exhibitors and attract more than 150,000 professional visitors from markets around the world.

ITES 2020 exhibition website: https://www.iteschina.com
ITES 2020 advance tickets: http://www.simmtime.com/pre-index_en.htm
2019 exhibition report (20th Anniversary) : https://bit.ly/2TrkMMp

Contact: Talina Zeng, +86-755-2394-0012, info@simmtime.com

‘Discover Ningxia’ International Cultural Tourism Festival ends on Perfect Note

‘Discover Ningxia’ International Cultural Tourism Festival 2019 ended on a perfect note in Ningxia. 20 international ‘influencers’ and lucky fans of Ningxia, concluding their chosen Ningxia tours, so carefully and intuitively designed for the event, enthusiastically describing their experiences, enriched with video broadcasts, photography and graphics, for each other and for their online followers; sharing Ningxia’s deep cultural heritage, rich touristic resources and beautiful high-quality products, vivid impressions for friends around the world.

The Ningxia 2019 International Cultural Tourism Festival selected ‘Discover Ningxia’ as its theme and adopted a combination of online and offline methods to create vivid and dynamic impressions, multi-channel such as event marketing, immersive experience and new media dissemination. The challenge was presenting Amazing Ningxia in its many aspects, so Amazing Ningxia could be more deeply rooted in the hearts of people, and tourists in target markets would come to understand this amazing place, with motivation to travel to this destination called Ningxia.

Ningxia Tourism decided on #FreeTriptoNingxia, an online activity combining these ideas for social media such as Facebook, Instagram, Twitter and YouTube, and collected more than 200,000 followers on its social media fan pages from Thailand, the United Kingdom and the Philippines, Bangladesh, the UAE, Pakistan, Turkey, Canada and other countries and regions, from which it chose 20 ‘influencers’ and lucky fans to come and ‘Discover Ningxia’.

And a deep exploration tour of Ningxia they had. Whether it was the extraordinary Shuidonggou, or the astonishing Rock Paintings in Helan Mountain, which came from man thousands of years ago, intoxicating every visitor. The thousand-year-old Western Xia Mausoleum with a dynasty story which represents the mystery and uniqueness of Ningxia. Shapotou, surrounded by the desert and a long river, alpine and oasis, reflecting in their eyes a beautiful picture of ‘sunset by the Yellow River and a plume of smoke rising up from the desert’.

Along the way, they have seen the unique charm of Ningxia’s natural scenery and historical culture. While watching the ‘Bei Jiang Tian Ge’ horse show, learning non-legacy dyeing, one of the intangible cultural heritage in Ningxia, or making rubbings of rock paintings, or surfing on the desert sand and yellow river rafting on rafts of sheepskin, or other activities that let them experience Amazing Ningxia and its beauty, and feel the unique cultural heritage and humanity in this part of Ningxia, to know more about and fall in love with this most authentic Ningxia.

Pai Gun Na from Thailand, two active international travel opinion leaders with more than 700,000 fans on major social media platforms, encountered many scenic areas of ‘drop-dead beauty’. They expressed a desire to share the beautiful scenery and the activities through their lens, that their followers in Thailand and around the world might share in the beauty of Amazing Ningxia.

Geng Maderazo and Kath Figuracion of the Philippines said the beauty of Ningxia has left a deep impression on them. The unique topography and geographical landscape of Shuidonggou, and the historical sense of Zhenbeibu Western Film Studio, are so astonishing, so attractive. The performance of ‘The Ancient Legend of Shapotou’ was completely different, unique. If they have a chance to visit Ningxia again, they would like to bring family members to experience the natural scenery, local food and fine wine.

Tariq from the United Kingdom also expressed his love for Ningxia. He has been to China four times before, and this time he was also very happy to have the opportunity to come to Ningxia! The fine weather here was very comfortable for him. And he really likes the Rock Paintings of Helan Mountain for its long history and unique geographical landscape. In his opinion, they were well suited as film subjects. Next time, he would like to use this tourism spot as the location for a miniature movie or short film.

54 event-related articles were posted on Ningxia Tourism’s overseas social media fan page during the event, reaching more than 21 million people with the engagements of 200,000 subscribers. At the same time, 20 international influencers and lucky fans also released 300 event-related posts through social media, launching 20 live streams with 65,000 engagements, which formed a two-way interaction with the official fan page of Ningxia Tourism. And all of these also fully realized the dissemination effect of ‘Discover Ningxia’ 2019 International Cultural Tourism Festival.

With the public appreciation and popularity of the influencers and fans, ‘Discover Ningxia’ 2019 International Cultural Tourism Festival helped to spread the unique charm of Ningxia’s special cuisine, history, culture, and natural landscape on social media, and bring greater possibilities for increasing international tourism. Although the Festival has ended, the Discover Ningxia official fan page will continue to operate and organize many more activities in order to share more Ningxia culture and tourism resources and elements, as well as bringing further surprises to Ningxia’s friends worldwide.

Facebook: http://www.facebook.com/DiscoverNingxia | Instagram: https://www.instagram.com/discoverningxia/ | Twitter: https://twitter.com/discoverningxia | YouTube: www.youtube.com/channel/UCVadj3tmbDQzWjsss4KRaSQ

Contact: Grace Yang, +86 13895402284, yangjin234611@gmail.com | http://nxtour.com.cn | Ningxia Department of Culture and Tourism, Ningxia Autonomous Region, China | http://dwz.cn/et8DczFR

Sheng Ye Capital Announces 2019 Interim Results

– Income from Factoring and Other Services Surges 30.0% to RMB237.5 Million
– Healthy Financial Position and Excellent Factoring Business Performance
– Makes Application to HKEX for Transfer of Listing to Main Board to Seize Future Opportunities

Sheng Ye Capital Limited (“Sheng Ye Capital” or the “Group”; Stock code: 8469), a specialised enterprise financial services provider offering accounts receivable financing and other related solutions mainly in the energy, construction and medical sectors in the PRC, has today announced its interim results for the six months ended 30 June 2019 (the “Review Period” or “1H 2019”).

The Group continued to record encouraging results in 1H 2019, with income from factoring and other services amounting to approximately RMB237.5 million (1H 2018: RMB182.7 million), representing an increase of approximately 30.0%. The increase was mainly attributable to an expanded factoring business that was supported by a major portion of proceeds generated from the placing exercise conducted in July 2018 as well as bank and other borrowings. The Group’s profit before taxation increased by 46.7% to approximately RMB160.2 million (1H 2018: RMB109.1 million). Profit after taxation also climbed by 67.0% to RMB124.9 million (1H 2018: RMB74.8 million). Basic earnings per share were RMB14 cents (1H 2018: RMB10 cents).

Notwithstanding the slowdown of the global and PRC economies, the Group managed to raise additional working capital for expanding the factoring operation through shares placing, borrowing and bond issuance. The Group’s revenue in 1H2019 increased by approximately 52.3% to RMB201.6 million (1H 2018: RMB132.4 million). In order to improve cash flow as well as to more effectively manage the Group’s factoring receivables portfolio and fund the factoring business, the Group sold the rights of factoring assets and recorded revenue of approximately RMB35.9 million (1H 2018: RMB50.3 million) from the sales of factoring assets, providing financing support to the factoring business. 

Business Review
Sheng Ye Capital has positioned itself as a specialised enterprise financial services provider offering accounts receivable financing and other related solutions to the energy, construction and medical sectors in the PRC. The Group has also sought to strategically expand its factoring service customer base, comprising small and medium-sized enterprises that are suppliers of state-owned enterprises and large enterprises in the abovementioned three sectors. During the Review Period, the Group provided these customers with funds secured by, among others, their accounts receivable, and also offered them accounts receivable management services, including review and verification of documents relating to the accounts receivables, collection of accounts receivable on behalf of customers, and regular reporting to customers on matters concerning their accounts receivable. The Group received interest income and professional fees for the services rendered and also derived income from the sale of rights of the factoring assets.

The Group’s online factoring platform “Easy Factoring” linked up with the enterprise credit reporting system of People’s Bank of China, following which stringent risk supervision will be conducted. This will include examining the background of co-operating enterprises, such as their operation status and credit record, and also implementing risk control on overdue situation as well as examining and verifying customers’ asset information.

Besides, SY Factoring Limited, a subsidiary of the Group, also signed a strategic co-operative agreement with a financial asset trading platform in the PRC, which will combine the strengths of the two parties, leading to resource and system integration and information sharing. 

The Group has been diversifying its financing channels and has achieved notable results. The signing of banking facility agreements with a number of banks this year has also helped the Group to implement an inclusive financial strategy that is promoted by the country.

The Group was included as one of the constituents of MSCI China All Shares Small Cap Index in 2018, demonstrating the widespread recognition that it enjoys for its financial position and business development. The Group believes the inclusion in the Index will enable it to draw greater attention from investors. On the other hand, Sheng Ye Information Technology Service (Shenzhen) Co., Limited, another subsidiary of the Group, was named “National High and New Technology Enterprise” and “Shenzhen High and New Technology Enterprise” by Shenzhen Municipal Tax Service, State Administration of Taxation, Science and Technology Innovation Committee of Shenzhen Municipality and Finance Commission of Shenzhen Municipality.

Prospects
The Group listed on GEM of Hong Kong Exchanges and Clearing Limited (“HKEX”) in 2017, making it the first and only factoring company from the PRC to list in Hong Kong. The listing status and funds raised have undoubtedly enhanced the Group’s brand image, financial position and competitive strength. On 30 April 2019, the Group made an application to HKEX for the transfer of its listing to the Main Board. It considers that the transfer of listing will help raise investors’ awareness and acceptance of the “Sheng Ye Capital” brand and enable it to gain access to more efficient financing channels both locally and abroad to support business growth. 

Looking ahead, the Group will continue to focus on the construction, energy and medical sectors and expand its clientele and factoring assets. With its advanced online factoring platform “Easy Factoring” and professional risk management mechanism, the Group will be able to offer financial products, customised solutions and also integrated factoring services including account receivable financing, account receivable management services and credit evaluation to customers, helping them secure funding during different stages of their development. Meanwhile, the Group will continue to raise its core competitiveness and advance its risk management mechanism and IT system, as well as to explore new and relatively low-cost financing channels so as to drive sustainable business growth in the most cost-effective manner.

About Sheng Ye Capital Limited (Stock code: 8469)
Sheng Ye Capital Limited is a specialised enterprise financial services provider offering accounts receivable financing and other related solutions mainly in the energy, construction and medical sectors in the PRC. It has a strong capital base with its principal operating subsidiary in the PRC having a registered capital of US$100 million. The Group was included as one of the constituents of MSCI China All Shares Small Cap Index in 2018. For more information about Sheng Ye Capital, please visit: http://www.shengyecapital.com/.

Media Enquiries
Strategic Financial Relations Limited
Iris Lee Tel: (852) 2864 4829 Email: iris.lee@sprg.com.hk
Katrina Leung Tel: (852) 2864 4857 Email: katrina.leung@sprg.com.hk
Queenie Chan Tel: (852) 2864 4851 Email: queenie.chan@sprg.com.hk
Fax: (852) 2527 1196

WIMI Hologram Listing helps open AR market to Foreign Capital

WiMi Hologram Cloud, Inc, the largest holographic AR content producer in China, filed a preliminary prospectus with the SEC last week for an initial public offering (IPO) of American depositary shares, or ADSs, of up to $50,000,000. The Company intends to list the ADSs on the Nasdaq Global Market under the symbol “WIMI.” Having developed powerful, leading-edge holographic AR technologies, the Company aspires “to be the creator of the largest holographic AR ecosystem in China.”

WIMI offers augmented reality (AR)-based holographic products and services centered on providing an innovative, immersive and interactive holographic augmented reality experience, for ‘Customers’ who have contracted with the Company to use its products and services subject to the contracts during the relevant period, and ‘End users’, who enthral in etherial AR experiences. WIMI business offerings consist primarily of (i) Holographic AR Advertising Services, which accounted for 80.5% of revenue in fiscal 2018, and (ii) Holographic AR Entertainment Products, which accounted for 19.5% of revenue in the same period.

Holographic AR Advertising Services

The Company’s holographic AR advertising software enables real or animated 3D images and objects to be inserted in film or video footage, seamlessly interacting with the characters and scenes of such footages. The online holographic AR advertising solution embeds holographic AR ads into films and videos that are hosted by leading online streaming platforms in China. Ads produced with WIMI holographic software generated more than 6.6 billion views during fiscal 2018, compared to 4.9 billion views during fiscal 2017, representing a year on year increase of 34.7%.

The Company had 121 customers during fiscal 2018, as compared to 97 customers during fiscal 2017, and the average revenue per customer was approximately RMB 1.5 million during the year, as compared to approximately RMB 1.4 million during 2017. Average revenue per customer is calculated by dividing the total AR advertising revenue by the number of customers, while the average revenue increase was due to the improvement in technologies where we could embed more contents in the advertisements. The duration of a typical AR advertising service contract is one year.

Image 1: Holographic Application Platform (https://bit.ly/2Nq7U7Y)

Through the Company’s proprietary image and video recognition technologies, its software enables users to analyze the underlying video footages at a pixel level to identify ad spaces that can be augmented by 3D objects. Advertisers and their agencies purchase these ad spaces through application programming interface, or APIs, integrated with our systems, specifying their target audience and budgets and typically providing the 3D models to be embedded in the videos. When the ad space is detected, and 3D objects are generated, the objects are embedded into the underlying streaming videos automatically on a batch-processing basis as determined by our software.

Holographic AR Entertainment Products

WIMI’s holographic AR entertainment products consist primarily of payment middleware software, game distribution platform and holographic mixed reality (‘MR’) software. Payment middleware is a software solution that connects mobile apps to payment channels, giving mobile app users convenient access to a wide range of online payment options. WIMI has cooperated with more than 55 app developers; its payment middleware has been embedded in over 1,100 mobile apps, many featuring AR functionality, which were marketed by over 300 customers in 2018.

The Company also provides payment middleware which streamlines the often time-consuming mobile payment process with a proprietary in-app payment infrastructure that allows micropayments to be made or received through an efficient, secure system without any interface redirection. Such mobile payment middleware enables app developers to store users’ payment credentials in a trusted and safe environment and eases the user burden of repeatedly entering and authenticating payment information for each transaction.

Image 2: https://bit.ly/2KShsXc

WIMI’s payment middleware can be fully integrated with various mobile apps, including live streaming, gaming, selfie, photo editing, and video-sharing, and especially those employing AR technologies. The payment middleware supports substantially all major online payment channels in China, and it is also compatible with the mainstream mobile operating systems.

About WiMi Hologram

WiMi Hologram Cloud, Inc. began commercial operations in May 2015 through Beijing WiMi Hologram Cloud Software Co., Ltd., or Beijing WiMi. WiMi Cayman was incorporated under the laws of the Cayman Islands as the offshore holding company in August 2018 to facilitate offshore financing. In Sept. 2018, WiMi Hologram Cloud Limited, or WiMi HK, a wholly-owned Hong Kong subsidiary, was established.

WiMi HK established a wholly-owned PRC subsidiary, Beijing Hologram WiMi Cloud Internet Technology Co., Ltd., or Hologram WiMi, or WiMi WFOE in the Company’s SEC prospectus. Substantially all of WIMI’s users and business operations are located in the PRC. Tthe Company does not have plans for any significant overseas expansion, as its primary focus remains the PRC hologram market, with its tremendous growth potential and attractive monetization opportunities. http://en.wimiar.com

Contact: Insight Data Talking Institute, Mr Ronald Sims, +44 20 7698 1963, morningstar.editors@gmail.com, www.insightdatatalking.com
Source: U.S. SEC – FORM F-1, WiMi Hologram Cloud Inc., as filed with the Securities and Exchange Commission on June 27, 2019.

Source: ACN Newswire

Lightspeed Venture Raising $560 Million For Two Chinese Funds

Lighstpeed Venture Partners, an American venture capital firm focusing on early stage investments in the enterprise technology and consumer space, is raising a total of $560 million for VC funds focused on China.

In its pair of filings with the US Securities and Exchange Commission, Lightspeed Venture said it is raising $360 million for a fourth Chinese venture capital fund and $200 million for a Chinese select fund.

The two funds – Lightspeed China Partners IV and Lightspeed China Partners Select I GP – add to Lightspeed’s 15 funds that have raised a combined $7.6 billion, according to Crunchbase data.

For this year, the firm raised $3.8 billion for its four funds – Lightspeed Venture Partners Select III, Lightspeed India Partners II, Lightspeed Venture Partners XII, and Lightspeed Venture Partners Select III.

Founded in 2000, Lightspeed Venture Partners invests in various sectors: enterprise, consumer, big data, bitcoin, enterprise technology, cleantech, mobile, internet, financial technology, cloud solutions, e-commerce, storage, media, networking, energy, and software, software-as-a-service, information technology, biotechnology, and social.

It mainly invests in countries such as the United States, Europe, Israel, China, and India.

Since its inception, the firm has made 678 investments, with 203 of them as lead investor. Its most recent investment was on December 14, 2018, when it invested $60 million Faire, a startup that helps retailers fund and buy wholesale merchandise for their stores.

Lightspeed-backed companies have held 17 initial public offerings in the last five years, about half of which have occurred since the start of 2017, including messaging app Snap, personal stylist company Stitch Fix Inc, and data storage provider Nutanix Inc.

It also reaped windfalls when Cisco Systems Inc acquired AppDynamics Inc and when Salesforce.com Inc bought MuleSoft for multiple billions of dollars.

According to a Reuters report, Lightspeed is eyeing a business expansion to Southeast Asia and wants to add investments in cryptocurrency, biotechnology, new TV streaming services and even cosmetics companies. – AsiaPEVC.com 

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