HONG KONG, Aug 28, 2024 - (ACN Newswire via SeaPRwire.com) - Black Spade Acquisition II Co (the “Company”), a special purpose acquisition company (“SPAC”) sponsored by an affiliate of Black Spade Capital Limited, announced today the pricing of its initial public offering of 15,000,000 units at a price of $10.00 per unit. The units are expected to be listed for trading on The Nasdaq Stock Market LLC (“Nasdaq”) under the ticker symbol “BSIIU” on August 28, 2024.Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected be listed on Nasdaq under the ticker symbols “BSII” and “BSIIW”, respectively. The offering is expected to close on August 29, 2024, subject to customary closing conditions.The Company’s management team is led by Dennis Tam, Executive Chairman & Co-CEO, Kester Ng, Co-CEO & CFO and Richard Taylor, Co-CEO & COO, each of who served as executive director of or advisor to Black Spade Acquisition Co (“BSAQ”), a SPAC also sponsored by an affiliate of Black Spade Capital Limited. BSAQ completed its $169 million initial public offering in August 2021. In August 2023, BSAQ completed a $23 billion business combination with VinFast, a leading Vietnamese automaker and the first Vietnamese business to list in the U.S. by way of a business combination. Clear Street and Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, are acting as joint book-running managers. Latham & Watkins LLP is serving as legal counsel to the Company. Loeb & Loeb LLP is serving as legal counsel to the underwriters.The public offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Clear Street, Attn: Syndicate Department, 150 Greenwich Street, 45th floor, New York, NY 10007, by email at ecm@clearstreet.io, or from the SEC website at www.sec.gov.A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on August 23, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.(from the left) Kester Ng, Co-CEO and CFO, Dennis Tam, Chairman and Co-CEO,Richard Taylor, Co-CEO and COO– End –About Black Spade Acquisition II CoBlack Spade Acquisition II Co is the second SPAC of its founder, Black Spade Capital and its management team incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or assets. While the Company may pursue an acquisition or a business combination with a target in any business or industry, it believes that the entertainment, lifestyle and technology industries, particularly those that are major beneficiaries of artificial intelligence (“AI”), provide ample business combination opportunities.Forward-Looking StatementsThis press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering, the anticipated use of the net proceeds, and the search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated.Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's initial public offering filed with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.Investor Contact:IR@blackspadeacquisitionii.comMedia Enquiries:Strategic Financial Relations Limited Vicky LeeTel: +852 2864 4834Email: vicky.lee@sprg.com.hkLilia YangTel: +852 2864 4833Email: lilia.yang@sprg.com.hkWebsite: www.sprg.com.hk Copyright 2024 ACN Newswire via SeaPRwire.com.

MANAMA, Bahrain, Aug 28, 2024 - (ACN Newswire via SeaPRwire.com) - Bahrain is gearing up for its second edition of Fintech Forward, which will be programmed by Economist Impact, hosted by Bahrain Economic Development Board (Bahrain EDB) and supported by the Central Bank of Bahrain (CBB) and Bahrain FinTech Bay (BFB). The flagship installment of 2024's Transformation Agenda series will take place on October 2nd and October 3rd, 2024, at Exhibition World Bahrain.Featuring a series of panel discussions, the two-day event will unite global fintech experts with financial institutions, governments, and regulators to tackle trending topics across generative AI, blockchain technologies, cybercrime, open banking, evolving consumer behaviour, the impact of new regulations, as well as best practices in prioritising sustainable financial initiatives. Against a backdrop of these insightful discussions that will deliberate on the evolving advancements and imminent challenges facing the global financial services industry, Fintech Forward will serve as a platform for both strategic collaboration and networking with leading players across the region and beyond.As a singular financial regulator, the CBB has consistently enhanced the competitiveness of Bahrain's financial services sector, supporting the national transition to a digital economy by pioneering new regulatory frameworks and legislation, all while introducing innovative platforms in the likes of the Regulatory Sandbox. Year after year, Bahrain EDB has continued to attract investments into focused sectors in line with national priorities, fostering ongoing discussions with the private and public sectors to create a business-friendly environment backed by progressive legislation. Further driven by a thriving financial services ecosystem that comprises a balanced portfolio of leading international conventional banking institutions alongside new financial players, including crypto asset service providers, digital payment providers, and highly-specialised firms; Bahrain has earned a reputation as a leading hub of fintech in the Middle East and North Africa region.Following the successful inaugural event last year, which secured attendees from across the world, Fintech Forward has cemented itself as a platform for innovative leaders to share experiences, collaborate on learnings, and connect with their peers. Showcasing Bahrain's phenomenal progress in digital transformation, expanding its fintech space, and success in developing a highly skilled talent pool to further fuel the growth of a booming industry, this year's flagship event is expected to be yet another resounding achievement.More information on Fintech Forward 2024, which will be programmed by Economist Impact and hosted by Bahrain EDB, can be found on https://events.economist.com/fintechforward/.For more information, please contact:Abdulelah AbdullaCommunications DepartmentEconomic Development BoardPhone: +973-39798919E-mail: internationalmedia@bahrainedb.comAbout Bahrain Economic Development Board (Bahrain EDB)The Bahrain EDB is an investment promotion agency with the overall responsibility of attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.The Bahrain EDB works with the government and both current and prospective investors, to ensure that Bahrain's investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.The Bahrain EDB focuses on several economic sectors that capitalise on Bahrain's competitive advantages and provide significant investment opportunities. These sectors include financial services, manufacturing, logistics, ICT, and tourism.For more information on the Bahrain EDB visit www.bahrainedb.comBahrain FinTech BayBahrain FinTech Bay (BFB) provides a physical hub to incubate insightful, scalable and impactful FinTech initiatives through innovation labs, acceleration programs, curated activities, educational opportunities and collaborative platforms. BFB partners with governmental bodies, financial institutions, corporates, consultancy firms, universities, associations, media agencies, venture capital and FinTech startups to bring the full spectrum of financial market participants and stakeholders together.SOURCE: Bahrain Economic Development Board Copyright 2024 ACN Newswire via SeaPRwire.com.

MALAYSIA, Aug 28, 2024 - (ACN Newswire via SeaPRwire.com) - MClean Technologies Berhad ("MClean Technologies" or the "Company"), an established provider of precision cleaning and surface treatment solutions, is pleased to announce its financial results for the second quarter ended 30 June 2024 (“Q2 FY2024”). The Company has recorded its second consecutive profitable quarter in the financial year ending 31 December 2024 (“FY2024”), marking a significant turnaround in its financial performance.Datuk Dr. Terence Tea Yeok Kian, the Executive Chairman and Managing Director of MClean Technologies BerhadFor Q2 FY2024, MClean Technologies reported revenue of RM15.5 million, a 30% increase compared to RM12.0 million in the same quarter last year (“Q2 FY2023”). This increase in revenue is largely attributed to stronger demand for the Company’s precision cleaning and surface treatment services. Notably, the Company achieved a profit before tax (“PBT”) of RM1.0 million, a substantial improvement from the loss before tax of RM1.1 million in Q2 FY2023, due to higher revenue in the current quarter and the successful implementation of cost management initiatives.Comparing to the immediate preceding quarter (“Q1 FY2024”), MClean Technologies recorded an 18% growth in revenue from RM13.1 million to RM15.5 million, driven primarily by increased demand for its precision cleaning services. In tandem with this revenue growth, the PBT of the Company surged by 177% in Q2 FY2024, compared to RM0.4 million PBT in Q1 FY2024.For the first six months of FY2024 (“6M FY2024”), MClean Technologies reported revenue of RM28.7 million, a 19% increase compared to RM24.0 million in the same period last year (“6M FY2023”), primarily due to stronger demand for precision cleaning and surface treatment services. The Company’s PBT for 6M FY2024 stood at RM1.3 million, marking a remarkable turnaround from the loss before tax of RM2.2 million in the corresponding period of FY2023. This growth underscores the consistent demand for MClean’s services, particularly in the Hard Disk Drive (HDD) and consumer electronics sectors.With the entry of the new substantial shareholder, Accrelist Crowdfunding Pte. Ltd., a wholly-owned subsidiary of Accrelist Ltd. (“Accrelist”), on 2 July 2024, which currently holds 28.5% stake in MClean Technologies, MClean Technologies aims to leverage on the strategic partnership opportunity that is presented by Accrelist’s extensive expertise in business transformation and growth.Accrelist, listed on the Catalist Board of the Singapore Exchange, is a diversified group with interests in medical aesthetics and injection moulding services, held through its subsidiary, Jubilee Industries Holdings Ltd, which is also listed on the Catalist. With the entry of this new shareholder, MClean Technologies is exploring various synergistic strategies to increase market share, expand customer and sector opportunities, and deepen cost-efficiency efforts through enhanced expertise and talent resource utilisation.Datuk Dr. Terence Tea Yeok Kian, Executive Chairman and Executive Director of MClean Technologies said, “We are very pleased with our performance in the second quarter of 2024, which marks our second consecutive profitable quarter in the current financial year. The strong financial results reflect the hard work and dedication of our team, as well as the strategic decisions we have made to enhance operational efficiency. The successful turnaround of the company demonstrates our commitment to building sustainable growth and profitability. Our focus remains on sustaining this positive momentum and achieving long-term profitability. We are particularly encouraged by the growth in demand for our HDD solutions in Malaysia and Thailand, and we will continue to leverage our strengths to deliver value to our shareholders.”Looking ahead, MClean is dedicated to maintaining its positive momentum and focusing on long-term profitability. The management team is confident that the Company's strategic initiatives, combined with ongoing cost management efforts, will position MClean for continued success in the quarters to come.As of 27 August 2024, the share price of MClean Technologies had closed at RM0.29 as at 5:00 P.M., representing a market capitalisation of RM57.2 million.This press release should be read in conjunction with the full text of the announcement released by MClean Technologies on 27 August 2024 in relation to its interim financial statements for the quarter and six months ended 30 June 2024 which is available on the Bursa website.ABOUT MCLEAN TECHNOLOGIES BERHADMClean Technologies Berhad, is a leading provider of surface treatment, precision cleaning, and packaging services. The Company serves a diverse range of industries, including Hard Disk Drive, Consumer Electronics, and Oil & Gas. With operations in Malaysia, Singapore, and Thailand, MClean is committed to delivering high-quality and reliable services to its clients. For more information, visit http://www.mclean.com.sg/.For more information, please contact:Jazzmin WanTel: +60 17-289 4110Email: j.wan@swanconsultancy.bizStephanie ChowTel: +60 18-314 3933Email: s.chow@swanconsultancy.biz Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 27, 2024 - (ACN Newswire via SeaPRwire.com) - On August 22, AAC Technologies (02018.HK) held its 2024 interim results presentation in Hong Kong, delivering remarkably impressive performance.According to the Interim Report, in the first half of 2024, AAC Technologies achieved a revenue of RMB 11.25 billion, hitting a new high since its listing, with a year-on-year revenue growth of 22.0% and a gross profit margin of 21.5%, up by 7.4 percentage points year-on-year. The net profit amounted to RMB 537 million, representing a significant increase of 257.3% year-on-year. Notably, PSS, which was announced to acquire last year, contributed a consolidated revenue of approximately RMB 1.5 billion in the first half of the year, with a gross profit margin of approximately 25.0%.During the interview, Ms. Guo Dan, the CFO of AAC Technologies stated that in the first half of 2024, all business segments of AAC Technologies made positive progress, significantly enhancing profitability and maintaining a continuous growth in gross profit margin. More importantly, the performance of the interim results indicated the potential growth value brought by the Company’s strategic transformation. It is expected that the operating revenue of the Group (excluding PSS) for the year will increase by 15% compared to last year. Additionally, the consolidation of PSS is expected to contribute approximately RMB 3 billion. Overall, the total revenue of the Group for 2024 is projected to grow by over 30% year-on-year, with a gross profit margin in the range of 22% to 25%.Benefitting from the surge in AI smartphone upgrades in the next 1-2 yearsAt the interim results presentation, AI smartphones took center stage as a key topic. Guo Dan believes that AI smartphones are still in the early stages, with software-driven enhancements propelling hardware upgrades. There has already been a trend of increased shipments and overall improvement in ASP for product categories such as acoustics, mechanics and microphones. Looking ahead, with the further development of AI smartphones and functionalities, hardware component is expected to continue to advance in the coming years.“AI smartphones have great potential for innovation. In the next 1-2 years, we will see some changes, with an acceleration of changes in the 3-5 year period, bringing us many opportunities and driving multiple product lines,” Guo Dan stated. She cited examples such as new trends in hardware like foldable and ultra-thin form factors, and the Company's unique innovative speakers, and Combo (two-in-one product, which integrates a speaker and an actuator) can better meet market demands.Moreover, AI smartphones have higher power consumption and require better heat dissipation solutions. AAC Technologies has industry-leading advantages from material sourcing to lean manufacturing processes and simulation design. Additionally, as the demand for human-machine interaction in AI smartphones increases, requiring more precise voice commands and functionalities, this will further drive the Company’s MEMS microphone upgrades, boosting prices and profit margins.The Group’s overall gross profit margin is expected to increase to 22%-25% for FY2024Guo Dan revealed that with the seasonal impact of more new product releases in the second half of the year, performance is expected to be stronger than the first half. It is anticipated that the full-year business performance (excluding PSS) will achieve a growth of over 15% compared to last year. With PSS contributing approximately RMB 3 billion, the Group’s revenue in 2024 is projected to grow by over 30% year-on-year, with the comprehensive gross profit margin increasing from 21.5% in the first half of the year to a range of 22%-25%.“Since the second half of last year, the entire industry has entered a healthy trend of increasing specifications and configurations. The Company has seen improvements in ASP and overall profit margins in areas such as acoustics, optics, and mechanics,” Guo Dan stated. Particularly in the automotive sector, there will be a steady growth trend in the medium to long term. "It can be said that AAC is now a company with multiple growth drivers and solutions across various platforms. As we forecast the overall growth for the next few years, we maintain a positive outlook.”The acoustics business is expected to exceed a scale of RMB 10 billion and build a comprehensive user experience across all scenariosGuo Dan mentioned that the gross profit margin of AAC Technologies’ acoustics business has resumed to a healthy growth trajectory. The gross profit margin in the first half of the year was 29.9%, and it is expected to rise to over 30% for the full year.“At the interim results presentation, the Company’s management also discussed how AAC Technologies, originally a micro-acoustic supplier for consumer electronics, has further established industry standards for a comprehensive user experience across all scenarios through the acquisition of PSS. Acoustic solutions will be a key driver for the next phase of growth in the acoustics business. In terms of scale, the acoustics business is the Company’s first to exceed a revenue scale of over RMB 10 billion, and in the next five years, we can expect this important business line with a revenue scale of RMB 20 billion and a sustainable gross profit margin of over 30%.”Definite progress in the WLG projects of multiple key customersIn terms of the optics business, Guo Dan believes that the optics market has transitioned from a relatively competitive state a few years ago to a period of healthy development.The gross profit margin for optics in the first half of the year was approximately 5%, with plastic lens gross profit margin at 16-17%. Shipments of 6P and higher specification lenses accounted for 15%-16% of total shipments, with expectations of reaching 15-20% in the second half of the year. “In terms of value, it has already surpassed 30% or even 35%, which reflects our technical capabilities, customer coverage, and recognition.”Guo Dan disclosed that AAC Technologies’ gross profit for optics will further improve in the second half of the year. “It is foreseeable that the profit for a single quarter will turn positive, with a high probability of occurring in the fourth quarter. Overall profitability will see significant improvement compared to last year, with continued steady growth in the future.”“Especially with G+P glass-plastic hybrid lenses and WLG lens products, there have been definite advancements in major projects with several key customers,” Guo Dan stated. The industry now widely acknowledges that G+P glass-plastic hybrid lenses are indeed a superior solution. The Company’s unique WLG technology finds applications in areas such as smartphones and automotive, creating value across multiple domains. “Next year, G+P glass-plastic lenses and WLG single lenses will gradually become one of the most crucial technologies and value supports in the entire optics business, with many deliveries to customers aligning with our expectations for WLG technology investments.”The interim results performance reflects the Company’s long-term growth value“Looking at the first half of this year, the electromagnetic actuators and haptic business have already reached a gross profit margin of approximately 30% with the optimization and upgrade of product portfolios on the Android side, and this healthy level is expected to be sustained in the future,” Guo Dan stated. With the boost from the development of new products like actuators and drives, this sector is poised to return to a high-growth trajectory.“At the interim results presentation, the Company's management also mentioned that in the heat dissipation segment, AAC Technologies achieved a business scale of RMB 150 million in the first half of the year, with a gross profit margin of over 30%. With the development of AI-enabled applications, the scale is expected to exceed RMB 1 billion in the future. When combined with precision mechanics, the overall scale could reach RMB 5 billion and potentially even surpass RMB 10 billion in the long term.”“Additionally, the overall gross profit for the sensor and semiconductor business will continue to increase in the second half of the year,” Guo Dan mentioned. Over the next two to three years, driven by factors such as the value enhancement brought by AI smartphones, the advantages brought by the Company’s resource platform, and the increase in self-developed product penetration rates, the sensor and semiconductor business is expected to experience rapid development.Guo Dan concluded, “At the interim results presentation, the management also pointed out that this performance has shown investors that AAC has achieved revenue growth, as well as gross and net profit improvements through strategic transformation at the current stage. However, more importantly, the interim results implied the long-term growth value of each major business line, and we encourage everyone to focus on the certainty of sustained long-term growth.” Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 27, 2024 - (ACN Newswire via SeaPRwire.com) - VCREDIT Holdings Limited ("VCREDIT" or the "Group"; stock code: 2003.HK), a leading independent online consumer finance provider in China, announced its unaudited interim results for the 6 months ended 30 June 2024 (the "Period").In the first half of 2024, faced with a continuously sluggish macroeconomic condition and weakened consumption and credit demand, the Group promptly adjusted its operating strategies by tightening risk control to mitigate borrower credit risk and asset quality depreciation, while also implemented cost control measures to improve operational efficiency. Loan origination volume in the Period recorded RMB 27.02 billion.During the Period, to enhance risk control, the Group utilised new data sources to upgrade through iterations its risk model, and also adjusted its credit line policies to lower the average risk exposure at the customer level. By applying a more comprehensive dimensions for assessing borrower characteristics, the Group improved the quality of its approval process. These updates have enabled the Group’s ongoing targeting of higher-quality borrowers in terms of assets, achieving a balance between short-term risk and long-term returns.Launching the ‘Sunbird AI Hub’ AI large model, investing in technology to enhance operational efficiencyArtificial intelligence (AI) technology is developing rapidly, and the Group is actively investing in research and development in this area, and thus applied AI in its business technology to improve operational efficiency. In the first half of 2024, the Group officially has launched the its AI large model ‘Sunbird AI Hub’, and deployed it across several aspects of business. ‘Sunbird AI Hub’ can summarise large amounts of dialogue texts, and significantly improve the quality of customer service statistics and quality control through its application to intelligent credit. It is also aiding in code generation by helping R&D staff to focus on the design and improvement of data structure and system architecture.In the office setting, AI is being utilized with VQuickMind 2.0 which was put into service during the Period. VQuickMind 2.0 enables employees to create content in addition to the original question-and-answer interaction function, thus improving office efficiency. Other AI initiatives during the Period include an iterative upgrade of our core risk control system Hummingbird with the help of AI technology in the field of specialised modeling, thereby improving the operational efficiency of our risk control and reducing operational risks by revamping the rules engine.Diversify customer acquisition channels to acquire high-quality new customers, optimise user experience to maintain customer loyaltyThe Group actively expanded the network of high-quality customer acquisition channels and enhanced customer acquisition efficiency. During the Period, the Group reached cooperation agreements with leading food delivery platforms and other high-quality channels which better enable us to enhance customer interaction and to acquire new high-quality customers. As of June 2024, our cumulative number of registered users reached 149.1 million, an increase of 9.8% over the first half of 2023.Apart from acquiring new high-quality customers, the Group continued to optimise its existing user operation strategy. The Group has upgraded services at various points in the business process to shorten the time taken to issue and disburse loans and reduce the operation path for users, to provide users with a safer and more convenient and caring user experience. In the first half of 2024, repeat customers accounted for 89.5% of total loan volume.Continuously strengthen cooperation with external funding sources, implement multiple measures to reduce financing costsAs of June 2024, the Group have established long-term relationships with 109 external funding partners, including national joint-stock commercial banks, consumer finance companies and trust funds, etc., thus growing a rich and diversified funding pool. In addition, the Group also improved capital management with the construction of the VCREDIT fund management platform system, which continuously improves the efficiency of its funding operation, and steadily reduces the cost of funds.Develop new business beyond mainland China, CreFIT partners with China Mobile Hong KongApart from developing the existing consumer finance business, the Group also consolidated new business initiatives outside of Mainland China. In May 2024, its Hong Kong-based online consumer finance brand ‘CreFIT’ became the first money lender in Hong Kong to cooperate with China Mobile Hong Kong to provide consumer finance products to their customers. CreFIT will look for opportunities to align with additional quality customer acquisition channels and develop mutually beneficial cooperation across cross-industry online platforms and widen access to users with a tailored instalment experience that can truly match real consumer finance scenarios.OutlookIn order to contribute to further growth in consumer finance business and fulfil the financial needs of high-quality customers, the Group will continue to hone business strategies and upscale technology. In addition to growing the existing consumer finance business in China, the Group will also look to expand and diversify its business strategies by investing or collaborating in or acquiring similar, related, or complementary businesses and industries in other jurisdictions including Hong Kong, South-East Asia and Europe. The Group will continue to review potential investment opportunities and business prospects on a constant basis and make suitable investments and acquisitions as opportunities occur.In addition, the Group intends to continue to execute these strategies to maintain its growth in the industry, including streamline and extend its credit solutions to better serve its customers to improve brand recognition and loyalty and creditworthiness of its customer base; enhance risk management capability through deployment of evolving technology and artificial intelligence; strengthen long-term collaborations with licensed financial institutional partners and other business partners; ensure its business is conducted within applicable regulatory parameters to achieve regulation-centric sustainability; review and assess potential business prospects and invest or collaborate in or acquire similar, related or complementary businesses and industries in China and other jurisdictions; cultivate a dynamic enterprise value and culture and grow its in-house talents.About VCREDIT Holdings LimitedVCREDIT Holdings Limited (VCREDIT) is a leading independent online consumer finance service provider in China. With 18 years of experience in consumer finance innovation, the Group has established a cutting-edge position in credit risk quantification and intelligent risk management, which are core to financial services. VCREDIT's proprietary "Hummingbird" risk management system and smart lending robot provide state-of-the-art integrated solutions to licensed financial institutions, allowing them to offer customized, accessible financial services to underserved borrowers across China. VCREDIT made its debut on the main board of the Hong Kong Stock Exchange on June 21, 2018, with the ticker symbol 2003.HK. Website: https://en.vcredit.com/en-us Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 27, 2024 - (ACN Newswire via SeaPRwire.com) - GTJAI announced its interim results for the 6 months ended 30 June 2024. Although the global uncertainties continuously impacted the capital market in Hong Kong, the Group maintained stringent control over risks, vigorously enhanced its comprehensive financial service capabilities and product diversification driven by client demand, achieved an outstanding performance with revenue and profit achieved an overall increase, revenue increased significantly by 41% YOY to HK$2,171m, profit attributable to ordinary equity holders increased significantly by 63% YOY to HK$195m. To reward investors for their long-term recognition and support, the Company maintained a high payout ratio and declared an interim dividend of HK$0.012 per share, payout ratio reached 59%.Dr. YIM Fung, Chairman and Executive Director, stated, " Despite the presence of market uncertainties, the Group adhered to the development principles of “pursuing progress while ensuring stability, promoting stability through progress, advancing through pragmatic implementation”, vigorously enhanced comprehensive financial service capabilities and product diversification. The revenue (by income nature and by business segment) achieved an overall growth, demonstrating the success of diversified and integrated development. In the future, the Group will continuously develop wealth management and institutional business, adhere to the development direction based on customer demands, provide customers with more diverse products and services, build a leading comprehensive financial service platform, and achieve steady and sustainable growth."Keep up with market trends and client demand, and continuously strengthen wealth management service capabilities Facing the ever-changing market, the Group offers a variety of financial products and services to help clients preserve and generate their wealth. Through digital transformation, the Group continuously enhances the trading and wealth management experience, with the one-stop global investment application "Junhong Global" constantly updating new features, and introduced a new wealth management channel. In the first half of 2024, the Group pioneered the launch of virtual asset spot Exchange Traded Funds (ETFs)-linked structured notes in the Hong Kong market, adding new features to its diversified products and services. At the same time, the Group responded to Hong Kong's CIES program by providing solutions for investment immigration, with three of its public funds have been included in the eligible collective investment schemes of CIES and registered in Macao, expanding the customer base.Corporate finance business deploys in key industries, and debt underwriting business maintains its leading position in the industryIn the first half of 2024, the Group achieved significant growth in bond underwriting business, participating in 113 bond issuances, marking 82% YOY increase, with the total issuance size reaching HK$187.7b, 170% YOY increase, and ranked second among Chinese securities firms in terms of the underwriting scale of offshore bonds. In equity business, leveraging synergies with the parent company, the Group focused on key industries such as new energy, robotic, and intelligent driving, so as to optimize its business structure. During the period, the Group successfully assisted SenseTime Group in completing over HK$2b new Class B share placement, marking its first equity refinancing since its IPO.Accelerate the development of green finance service capabilities, actively promote green and low-carbon developmentThe Group has always adhered to the belief of “finance for the country, finance for the people, finance for the good”, by integrating and deepening the ESG concepts into daily business operations and management, and striving to build a responsible integrated financial service platform. In the first half of 2024, the Group achieved 438% YOY significant surge in the scale of ESG bond issuance business, reaching nearly HK$70b. Additionally, on the basis of the decline in total greenhouse gas emissions for four consecutive years, the Company has successfully offset the carbon emissions for the year 2023 by purchasing carbon credit assets of the verified carbon standard (VCS) forestry projects, achieving “carbon neutrality” at operational-level for the second consecutive year. Moreover, the Group has completed the Hong Kong and Mainland China’s first multi-currency sustainability-linked loan in the securities industry, and the first green deposit of the Group, actively promoting sustainable development for itself and the industry from multiple perspectives.OutlookIn the second half of the year, the Group will continue to maintain a stable and pragmatic development strategy, actively seize market opportunities, enhance its core business capabilities, optimize its revenue structure, and ensure high-quality and sustainable development of the Company. The Group will adhere to a client-demand-driven business development approach, and vigorously develop wealth management business. On one hand, it will accelerate the digital intelligent transformation, continuously optimize the functions of the investment application, “Junhong Global”, so as to create a convenient and efficient one-stop trading and wealth management platform for clients. On the other hand, it will actively enrich the variety of products to assist high-net-worth clients in transforming their high-end asset allocation. The corporate finance business will continuously deepen the synergistic effect with the parent company, deepen its advantages and professional capabilities in key industries, and serve the overseas financing needs of high-quality enterprises. Meanwhile, the Group will fully capitalize on regional synergies and provide institutions, corporations and individual clients with comprehensive and integrated financial services by giving play to the distinctive advantages of its subsidiaries in Singapore, Vietnam and Macao.- END – Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 27, 2024 - (ACN Newswire via SeaPRwire.com) - On August 22, Wuling Motors (0305.HK) released its 2024 interim results. For the first half of the year, Wuling Motors reported total revenue of RMB 3.946 billion, with a gross profit margin of 10.8%, up about 270 basis points from 8.1% in the same period of 2023. The profit for the period was RMB 21.125 million, representing a 72.3% year-on-year increase.Despite intensified market competition and pressures from industry transformation, the automobile sector showed an overall upward trend in the first half of the year. From January to June, revenue in China's automotive industry reached RMB 4.767 trillion, reflecting a 5% year-on-year increase. The growth in vehicle production and sales also improved profitability for upstream industry chain companies. Wuling Motors' latest results are notably strong.Steady Profit Growth and Synergistic Development Across Three Major SectorsWuling Motors primarily offers commercial vehicles, automotive power systems, and automotive parts. Benefiting from the robust development of the global automotive industry chain, these three major sectors have advanced in tandem, driving revenue and profit growth for Wuling Motors.Breaking down the performance of each sector:1/ Automotive Power Systems: By focusing on upgrading traditional fuel vehicle engines and developing new energy power systems, Wuling Motors has maintained its established customer base while securing new orders for high-efficiency and cost-effective HEV hybrid assemblies. This approach combines traditional power technology upgrades with new energy power integration. In the first half of the year, revenue reached RMB 902 million, with casting product sales totaling 515,000 units, up 26.2% from the same period in 2023.2/ Automotive Parts: Wuling Motors has continued mass production of key NEV components such as electric drive axles, motors, and electronic controls, achieving breakthroughs in both products and customer acquisition. In the first half of the year, sales to new customers amounted to RMB 1.042 billion, accounting for 38.6% of the total revenue in this segment. The share of revenue from customers outside SGMW increased to 38.6%. Various new energy electric axles have been used in projects for Great Wall Motor, JAC, and BAIC Qingdao. The first commercialized electric drive coaxial axle for the Changan Kaicheng market has already entered mass production. Wuling Motors' parts products are gradually moving toward mid-to-high-end markets, capturing trends in high-end and intelligent products, and expanding its diverse customer base, supporting further performance growth.3/ Sales and Manufacturing of Commercial Vehicles: Following last year's restructuring and strategic adjustments, Wuling Motors' commercial vehicle business has expanded into international markets and promoted new products. Currently, NEVs such as logistics vehicles, sightseeing buses, and patrol vehicles have been exported to countries including Vietnam, Singapore, Thailand, the United States, and Australia. In 2024, the company's global expansion continued with its first export to Egypt, delivering 200 vehicles. As Wuling Motors accelerates the development of new energy and intelligent products, it creates new growth opportunities for commercial vehicle revenue, contributing to overall performance growth.Each sector shows varying degrees of success, and Wuling Motors' continued optimization of product structure, commitment to technological innovation, and cost control measures have established stable profitability.Notably, the synergy between the commercial vehicle, automotive power system, and automotive parts sectors has created significant benefits along the industry chain. With factories in Guangxi, Shandong, Chongqing, and Hubei, Wuling Motors now has an annual production capacity of over 2 million sets of automotive parts. The Jingmen Base, dedicated to supporting Great Wall Motor, generated RMB 333 million in revenue in the first half of the year, with promising future potential. The combination of industry chain and technological advantages enables Wuling Motors to maintain leadership in product quality, cost, and scale, providing strong brand competitiveness and resilience through industry cycles.Creating new high quality productive forces and accelerating overseas expansionNew energy, exports, and intelligence are emerging as key drivers of performance for China's automotive industry chain. Strengthening China's new energy vehicle industry chain is closely linked to enhancing productive forces with higher quality.In the context of balancing energy security and achieving "dual carbon" goals, coupled with policies promoting large-scale vehicle trade-ins to stimulate automotive consumption, the new energy vehicle market is showing steady growth and increasingly high-quality development.According to data from the China Association of Automobile Manufacturers (CAAM), from January to June 2024, production and sales of new energy vehicles reached 4.929 million and 4.944 million units, respectively, marking a year-on-year increase of 30.1% and 32%. Domestic sales totaled 4.339 million units, up 35.1% year-on-year; exports were 605,000 units, up 13.2%. The total sales of new energy vehicles in China for 2024 are expected to reach 11.5 million units, indicating strong growth momentum.Wuling Motors is continuously strengthening its layout in the new energy sector across its three main business segments. In the long term, this will provide sustained new growth driver for its performance. From the current customer group perspective, Wuling Motors has accumulated a sufficient number of new energy customers. In addition to major client SGMW, there are well-established new energy automotive companies or emerging companies such as Great Wall, Chery, Geely, Foton, and Hozon. Furthermore, Wuling Motors is actively implementing a diversified customer policy and achieving outstanding results. For example, in the first half of the year, its independently developed new energy parts products made significant breakthroughs in securing overseas clients, successfully completing the development and supply of rear drive axle assemblies and driving system assemblies for the first new energy passenger car exported to Vietnam. As automotive enterprises expand their production and sales targets in 2024 compared to last year, this will undoubtedly create growth opportunities and drive comprehensive business growth for Wuling Motors.Furthermore, the new energy vehicle industry will inevitably move towards high-quality development. Recently, the profit margins in the automotive industry have shown a downward trend. However, a positive change this year is that several automotive enterprises have exited the "price war" and are focusing more on the business quality. As the automotive industry enters a phase of healthy development, the whole industry chain is expected to move toward common prosperity, and Wuling Motors' profitability is likely to further improve.In addition, Wuling Motors is actively striving to expand internationally and seize overseas development opportunities. In March of this year, Wuling Motors established an innovation center in Hong Kong. It is understood that the vision of the Wuling Motors Innovation Center is to be based in Hong Kong, leverage resources from the mainland China, and serve a global market. Its business includes forward-looking R&D, parts development, automotive intelligence and digital services, international sales services, and industrial incubation.The establishment of this innovation center will effectively enhance Wuling Motors' technological strength and product competitiveness. As Hong Kong serves as an excellent window for the mainland China to expand its new energy business overseas, Wuling Motors will be able to more efficiently reap the benefits of global market development, drive the growth of related companies' overseas sales of new energy vehicles, and achieve rapid improvement in its own performance.Looking ahead to the prospects of the overseas market, recent research reports indicate that in the passenger car sector, the market share of self-owned brands is gradually increasing, and the product exports is changed to capacity exports, with a high sustainable growth of export. The internationalization of China's commercial vehicles is rapidly advancing. In 2023, the total export volume of China's commercial vehicles reached 770,000 units, tripling compared to 2017.China's automobile exports, particularly commercial vehicles, are experiencing rapid growth. Recent data suggests that by 2024, China's automobile exports could reach 6 million units, representing a 15%-20% increase. Commercial vehicle exports are expected to reach 850,000 units, with a 15% growth rate. This growth indicates a significant acceleration in the internationalization of China's automotive industry, providing Wuling Motors with more opportunities to secure vehicle and core component orders, thereby boosting its performance to a new level.Summary:In summary, Wuling Motors exhibited robust business performance in the first half of this year, and its strategic layout is steadily progressing, which will continue to yield operation outcome.This year marks a significant moment for the development of new energy vehicles in China. In July, the monthly retail sales penetration rate of domestic new energy passenger cars exceeded that of traditional fuel vehicles for the first time, indicating that new energy vehicles have truly become mainstream. Moreover, Wuling Motors has accumulated ample industry experience, a solid customer group, and technological strength. As a result, its new energy layout and future potential will gain market recognition. Transitioning from the era of fuel vehicles to that of new energy vehicles, Wuling Motors is experiencing a leap in its intrinsic value. Copyright 2024 ACN Newswire via SeaPRwire.com.

San Francisco, Calif, & Mumbai, India, Aug 27, 2024 - (ACN Newswire via SeaPRwire.com) - Award-winning online restaurant reservation platform Eatigo, collaborates with CleverTap - the all-in-one engagement platform, to enhance customer engagement and boost reservations. Through CleverTap’s AI-powered recommendations engine, Eatigo was able to offer its users relevant and timely recommendations with precision, ensuring higher conversions. The platform's orchestration and analytics capabilities enabled Eatigo to coordinate complex, multi-channel marketing campaigns at scale and track the performance of its campaigns. Set up in 2013 with a mission to “connect empty tables with empty stomachs”, Eatigo is a leading online reservation platform. The brand has expanded rapidly, seating over 6 million diners, and accumulated over 6000 restaurants across Hong Kong, Singapore, Thailand, Malaysia, and the Philippines.By harnessing CleverTap’s AI/ML-powered capability suite: Clever.AI, Eatigo was able to hyper-personalize its engagement through more than 10 automations and nearly 100 journeys. As a result, Eatigo’s users were 2X more likely to make reservations. Additionally, CleverTap's Liquid tag and journey features enable Eatigo to create omni-channel experiences capturing diner’s attention and driving reservations. Commenting on the collaboration, Surakan Kittiperakorn, Regional Marketing Lead, Eatigo said, “Collaborating with CleverTap has granted us access to their comprehensive and dynamic suite of capabilities, enabling us to achieve our goals and grow our business in the Southeast Asia region. Utilizing CleverTap for local campaigns has helped us craft personalized marketing campaigns and messaging that resonates deeply with our users. The precision and efficiency of their AI-powered recommendations have significantly boosted our engagement metrics, allowing us to connect diners with the perfect dining experiences. We are excited about the future and look forward to continuing to innovate and grow with the support of CleverTap's robust platform.”Sidharth Pisharoti, Chief Revenue Officer, CleverTap, said, “In today’s highly competitive restaurant industry, customer engagement and personalized experiences are crucial for success. At CleverTap, we understand the unique challenges faced by businesses in this sector and are committed to providing innovative solutions that drive growth and customer satisfaction. Our AI-powered platform enables companies like Eatigo to harness the power of data to create tailored marketing strategies that resonate with their audience. We are thrilled to support Eatigo in their mission to enhance the dining experience and are excited to see the impact our collaboration has had on their reservation rates." Eatigo leveraged CleverTap’s AI-based recommendation engine to tackle a few obstacles. When the customer cancels their reservation, the engine comes up with 5 other options to increase conversion rates. If another user scrolls through the options but doesn't make a reservation, the engine offers custom suggestions to convince them. Furthermore, CleverTap’s engine proactively reaches out to customers who made their last reservation a month ago, via a multi-channel approach to increase the chances of their return to the app. About Eatigo Eatigo, founded in 2013, is committed to connecting "empty tables with empty stomachs" by providing a rich selection of dining options through its online reservation platform. With a strong presence in Southeast Asia, Eatigo serves regions such as Hong Kong, Singapore, Thailand, Malaysia, and the Philippines.By offering time-based discounts of up to 50%, Eatigo enables diners to enjoy high-quality dining experiences at affordable prices. Its unique, time-slot-based yield management solution also helps restaurants increase revenue during off-peak hours. In 2023, Eatigo merged with FunNow, joining the FUNNOW Group and further solidifying its leadership in the lifestyle booking and digital services sector.About CleverTapCleverTap is the leading all-in-one customer engagement platform that helps brands unlock limitless customer lifetime value. CleverTap is trusted by over 2000 brands like Domino’s, Levis, Jio, Papa John’s, Zomato, Kotak Bank, Air Asia, Carousell, TD Bank, and Tesco to help build personalized experiences for all their customers. The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering speed and cost efficiency at scale.Backed by top-tier investors such as Accel, Peak XV Partners, Tiger Global, CDPQ and 360 One, the company is headquartered in San Francisco, with presence across Seattle, London, São Paulo, Bogota, Mexico, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Singapore, Vietnam, and Jakarta.For more information, visit clevertap.com or follow us on:LinkedIn: https://www.linkedin.com/company/clevertap/ X: https://twitter.com/CleverTap Forward-Looking StatementsSome of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.For more information:SONY SHETTYDirector, Communications, CleverTap+91 9820900036sony@clevertap.com IPSHITA BALUConsultantArchetype+91 9590111798ipshita.balu@archetype.co Copyright 2024 ACN Newswire via SeaPRwire.com.

ABU DHABI, UAE, Aug 27, 2024 - (ACN Newswire via SeaPRwire.com) - Verofax Limited, a Web3 services company, today announced closing a $3M bridge round led by international investors Plug & Play Tech Center, Navig8 Group, King Abdullah University for Science and Technology, Trove Capital UK follow-on investment, Jawa Brothers Advisory, with Alzamil Pedco CVC and Tracecore CVC completing the list of investors.Verofax applies patented Web3 technologies such as Blockchain, Augmented Reality and Artificial Intelligence to provide 'Elevated tourist, shopper and brand marketing experiences', enabling destinations, retailers and sports stadiums to turn their experiences interactive and drive conversion and social virality. Brands can reach customers directly, thereby increasing consumer intimacy with direct engagement and leveraging gamification for unmatched results from AI & AR experiences. Verofax has won many awards for the application of artificial intelligence for tourism and retail and has achieved sales to date of over $3M for Fortune 100 companies across 50 markets globally.The funds will be used to execute the Company's pipeline of projects in the Middle East and EU, notably AI-powered guides in GCC and Sports fan guides in the EU and North America. Verofax solutions apply to various industries (Retail, Tourism and Sports) and are already used by leading brands such as Anheuser Busch Inc and Emirates Airlines. Verofax is a Microsoft Native partner and has secured a global network of distributors and resellers, co-selling on enterprise solution platforms such as Microsoft Azure Marketplace, Amazon AWS, and other platforms.Wassim Merheby, CEO of Verofax, said, "Our solution helps Tourists elevate their experiences, unlock personalized discounts and Offer gamified 'Explore to win' sponsored games in Augmented reality. This allows enterprises and brands to sponsor and elevate their marketing efficiency, power direct-to-consumer communication and deliver amazing experiences to drive growth and boost loyalty. We are thrilled to be joined by strategic investors that will help us accelerate our AI guide solution and AR gamified experiences and grow through their collective network and with their advice."Abdullah Alakeel, Country Director of Plug & Play Saudi, said: "Our recent investment in Verofax demonstrates our unwavering commitment to supporting the most promising startups within the Kingdom and the broader region. As one of the world's most active and successful early-stage tech investors, we are fully dedicated to nurturing the Kingdom's entrepreneurial ecosystem. We are thrilled to witness the transformative impact that Verofax will continue to make within the Tourism industry."Mr Ian Campbell, Vice President of the National Transformation Institute (NTI), said, "KAUST is mandated to accelerate the digital economy in the Kingdom as part of the University's forward vision, leveraging KAUST science and innovation to make an impact beyond the walls of the campus itself and to create collaborations and identify opportunities where KAUST can contribute by convening minds and resources together to deliver solutions to benefit the wider Kingdom and beyond. The application of AI in tourism, customer service and beyond are applications that fall within our investment mandate."Jamal Jawa, Managing Partner of Brothers Advisory, said, "Our investment thesis is to support growth startups that leverage the latest technologies such as AI / AR and Web3, setting new service categories. We have been incredibly impressed by Wassim and the whole Verofax team and are thrilled to be making this our first investment in a Pre-Series A startup in the GCC region".About VerofaxVerofax is a Web3 Asset Digitization and mixed-reality experience solution provider with a presence across North America, Europe, Asia and MEA regions. The Verofax solution is available across multiple cloud marketplaces, such as AWS & Microsoft Azure, to power tourism and retail personalized, immersive experiences with ease to boost customer loyalty and repurchase rates. Verofax boasts investment and support from 500 startups, including Sanabil Investments (PIF), and has received government grants to develop its IP globally. For technical matters, visit Verofax at https://www.verofax.com or contact info@verofax.com.About Plug & Play Tech CenterPlug & Play Tech Center is the most significant innovation platform in the world, supercharging innovation of over 500 industry-leading corporations by keeping them at the forefront of industry trends through PnPTC corporate Accelerator programs. Plug & Play runs over 100 industry-focused accelerator programs in over 50 locations globally and invests in over 250 companies a year alongside the world's best VCs. For more information, visit https://www.plugandplaytechcenter.com.About KAUSTKAUST is an international graduate-level science and technology research university located on the shores of the Red Sea in Saudi Arabia. Home to world-class faculty, scientists, engineers, and students from around the globe, the campus's 10 research centers focus on solving problems related to water, food, energy, and the environment. Students can access state-of-the-art labs and our eminent faculty while obtaining a diverse graduate study experience. Visit https://www.kaust.edu.sa/en/ or #KAUSTPortfolio for more information.About Jawa Brothers AdvisoryJawa Brothers Advisory, Owned and Managed by the Jawa Family, has been an Active Investor in the field of Private Equity for more than three decades. The group invests primarily through interests in limited partnership positions, Leveraged Buyout (MBO and LBO), Growth and Expansion Capital Private Equity Funds and Late Stage Venture Capital Funds. Funds are selected based on a clearly defined set of criteria. The company's disciplined and discerning investment professionals perform exceptional due diligence, studying the industry to identify specific opportunities and trends. Jawa Brothers Advisory is part of Starling Group. Visit https://www.starlinggroup.com/ for more information. Learn more at https://www.verofax.com or contact Verofax at info@verofax.com. Copyright 2024 ACN Newswire via SeaPRwire.com.