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Asiaray Announces 2019 Annual Results

By | EN, PR

Achieves Milestone in Different Aspects

Marks its First Footstep Outside of Greater China

Further Strengthen its Extensive Business Network

HONG KONG, March 28, 2020 /PRNewswire/ — Asiaray Media Group Limited ("Asiaray" or the "Group"; stock code: 1993), a leading out-of-home ("OOH") media company with a strategic focus on airport and metro line advertising, has announced its annual results for the financial year ended 31 December 2019.

With the Group’s solid business foundation and well developed network, it managed to achieve stable revenue at HKD1,878.4 million (2018: HKD1,929.0 million) even in the face of challenging conditions. Excluding RMB depreciation, the Group’s revenue managed to record modest growth. Due to the fluctuate business environment in the second half of 2019, the Group recorded a gross profit of HKD397.8 million, with gross profit margin at 21.2%. Furthermore, EBITDA (Earnings before earnings before interest, taxes, depreciation and amortization) increased 312.6% to HKD808.7 million. The combined revenue, which provides a more concise representation of total business scale by including consolidated revenue and revenue of all associated companies amounted to HKD2.630 billion (2018: HKD2.799 billion). However, as several newly secured project were still at a ramp-up phase during the year, and the Hong Kong Financial Reporting Standard 16 Leases became effective as of 1 January 2019, the combination of factors led to an initial heavy impact of the Group’s performance as reflected by a loss of the Company of HKD108.7 million.

Mr Vincent Lam, Chairman and Executive Director of Asiaray, said, "Over the past year, global economic conditions have remained erratic owing to the US-China trade war and many uncertainties. Nonetheless, Asiaray was able to maintain a stable business performance leveraging its effective business strategies and the strong business foundation. The Group has achieved different milestones during the year, particularly extended our reach to Singapore, marking the first business foothold outside the Greater China Region. In Hong Kong, we have extended our business footprint to bus business by granting the media resources of KMB and LWB. We have also introduced Ant Financial as our strategic shareholder, and officially launched the pioneer ‘online and offline ("O&O") new media’ strategy, which aims to strengthen our existing business by collaboration with O&O strategy. Together with a series of business projects in 2019, the Group is set to substantially improve its scope of business and further enrich its well-established media resources network."

Business Review

In 2019, the metro lines and billboards business segment remained to be the key revenue contributor. However, affected by the weakened operation environment, and a decline in revenue experienced by its business partner, MTR Corporation Limited and a shortfall faced by the Shenzhen Metro Lines due to the negative impact brought by the Sino-US trade war, segment revenue decreased to HKD919.3 million (2018: HKD974.9 million), while segment gross profit recorded to HKD136.7 million (2018: HKD184.3 million) and gross profit margin at 14.9%. Nevertheless, the Group secured numbers of new media resource, including the Beijing Metro Line 14, the Wenzhou Metro Line S1 and the Hangzhou Metro Line 5 during the first half year, which have broadened the business presence in the BeijingTianjinHebei region and the Yangtze River Delta respectively. In the second half year, the Group obtained an advertising concession right with Land Transport Authority ("LTA") of Singapore for the Thomson-East Coast Line, which was the Group’s first business foothold outside of Greater China. The Group also secured several new billboard resources, including some LED resources and building wraps that are new mediums for the Group. On top of it, Asiaray was also awarded two billboards and marked its first operation in Macau, including the Emperor Nam Van Centre and Hotel Inn, further enriched its well established Greater Bay Area portfolio.

The airport media advertising business recorded a stable growth in revenue, which has increased 1.6% to HKD739.3 million during the year. This was mainly attributable to the ongoing ramp-up of newly secured projects, as well as the improved performance of existing projects, including Yunnan airports, Zhuhai Airport and Urumqi Airport. Gross profit margin of 29.4% was recorded, with gross profit amounting to HKD217.3 million. The Group has strategically possessed media resources covering the entire Hainan Island. With the benefit of the offshore duty-free policy in Hainan Island, Haikou Meilan Airport is one of the very few locations in the Island operated under a provincial state-owned enterprise with permit for duty-free goods operation. In addition to Haikou Airport, the Group also operates the advertising media in the rest of the airports in the Island namely BoAo Airport and Sanya Phoenix International Airport. During the year, the Group has also expanded its airport media advertising network by once again securing the exclusive concession rights to continue operating media resources in the Kunming Airport. These latest concession rights will further strengthen the Group’s business presence in South and Western China, and reinforce its leading industry position in Greater China.

Further to the win of media resources of High Speed Rail (Hong Kong Section) and the Hong Kong-Zhuhai-Macao Bridge (Zhuhai-Macao Port), the Group has secured another new advertising medium in 2019, via exclusive concession rights with The Kowloon Motor Bus Company (1933) Limited ("KMB") and Long Win Bus Company Limited ("LWB") during the year. The exposure and impact of bus advertising can be highly significant and effectual given its easy reach to a huge swathe of the population. By leveraging Asiaray’s unique ‘Space Management’ approach, and ample experience in public transport advertising, the cooperative ties with KMB and LWB is believed to maximize all parties’ strengths and enable opportunities to be seized in the public transport advertising industry.

In addition, the Group continued to deploy both O&O strategies to maximize the impact of its DOOH business, hence to provide a seamless advertisement experience. In 2019, the Group’s integrated O&O strategy and existing programmatic DOOH platform were among the factors that attracted Ant Small and Micro Financial Services Group Co., Ltd. ("Ant Financial"), the owner and operator of the world’s leading payments and lifestyle platform Alipay, to become a strategic shareholder of the Group. Ant Financial has a solid foundation built in the online realm, which, along with Asiaray’s unique "Space Management" approach, can create an effective bridge linking advertising solution from the physical world to the virtual domain. During the year, the Group commenced different collaborations using online new O&O media, including collaborations with key opinion leaders, complemented by mobile applications such as TikTok that echo the offline campaigns. Leveraging the strengths of the Group, including its rich experience in O&O media, combined with the attributes of the new shareholder, it is expected to bolster its existing businesses while exploring new avenues, supported by the synergies between the two parties.

Prospects

Looking ahead, the global economy is expected to experience significant headwinds, yet, despite such glum projections for the global economy, with infections gradually stabilizing and pent consumption demand continuously building, the Group remains optimistic on the long-term outlook. With a new era of consolidation likely to commence in the wake of COVID-19, the Group will leverage its robust network that covers all range of city tiers, as well as its strong cash position and sophisticated management to facilitate and capture opportunities that arise. In Mainland China, the Group will continue to spare no effort to further enhance its extensive business footprint, and provide a comprehensive network to maximize advertising value. For the Hong Kong market, it is believed that dynamic mix of media solutions, comprising metro lines, billboards, and now, bus advertising, will stand the Group in good stead in coping with whatever challenges that may come. Moreover, with the Group’s outstanding O&O strategy, it is able to provide more value-added advertising solution to the customers. The Group has secured the exclusive concession rights at MTR Tuen Ma Line Phase 1 subsequent to the review year, which connects Wu Kai Sha and Kai Tak. Asiaray will look further to strengthen the foundation to better penetrate the public transport advertising market, as well as seize new opportunities that reinforces its leadership in the OOH advertising industry in Hong Kong.

Having established a beachhead in Singapore during the review year, the Group will leverage this geographical position as springboard for expanding its footprint in Southeast Asia. The Group will direct more resources to reinforce its presence in the Lion City, as it also strives to enhance ties with SMRT Trains. Moreover, the Group has completed a programmatic transformation project with Rubicon Project in January 2020, enabling Asiaray to programmatically trade its DOOH display and video inventory across Hong Kong and Singapore. Going forward, the Group will seek more opportunities for cooperation and strive to develop even more effective online and offline solutions that cater for advertisers’ needs.

Mr. Lam concluded, "2019 marks a remarkable year to Asiaray as we achieved several milestones amid the challenging environment. We strongly trust the belief when there is challenge, there is opportunity. Although 2020 is expected to remain challenging, we are optimistic to the outlook armed by our solid foundation. We will continue to seek for suitable opportunities arising from market consolidation and provide the best OOH communication solutions with the highest return on investment in an effective manner. On the other hand, we look forward to the cooperation especially in the development of O&O strategy with Ant Financial, thus to sustain growth and create value for our shareholders."

About Asiaray Media Group Limited (stock code: 1993.HK)

Established in 1993, Asiaray is a leading out-of-home media company in Greater China with a strategic focus on airport and metro line advertising. Currently, the Group’s business network covers more than 40 cities in Greater China with media resources at over 37 airports (including exclusive concession rights at 30 airports and Sanya Phoenix International Airport Terminal 2, Hainan) and has exclusive concession rights to mainstream media resources of 19 metro lines in Greater China, the High Speed Rail (Hong Kong Section) and the Hong Kong-Zhuhai-Macao Bridge (Zhuhai-Macao Port). And the Group has been appointed as the advertising non-fare operator for the Singapore MRT Thomson-East Coast Line (TEL) in 2019.

Asiaray is also committed to invest in corporate social responsibility and environmental protection initiatives. The Company has been awarded the "Outstanding Import and Export Enterprise Award – Innovation Excellence Award" in 2018; received "Hong Kong Awards for Environmental Excellence (HKAEE)" and named as a "Hong Kong Green Organisation" for three consecutive years from 2016 to 2018; and also has been named as a "Caring Company" for tenth consecutive year .

For more details about Asiaray, please visit its official website: www.asiaray.com or follow the Group’s Wechat (ID: asiaray_airport).

 

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Ping An Donates US$1.5 million of COVID-19 Medical Supplies to Indonesia

By | EN, PR

HONG KONG and SHANGHAI, March 28, 2020 /PRNewswire/ — Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEx:2318; SSE:601318) announced that in response to the Extraordinary G20 Leaders’ Summit’s call to support Indonesia in fighting the COVID-19 epidemic, Ping An and its Chairman Ma Mingzhe have donated a batch of medical supplies to Indonesia with a total value of US$1.5 million. The supplies include medical equipment, such as COVID-19 diagnostic test kits, infusion pumps and patient monitors. The donation also includes medical technology support such as COVID-19 smart image-reading system and AskBob medical AI assistants.

In detail, the donated items include 10,000 sets of safety goggles, 10,000 sets of COVID-19 diagnostic test kits, 150,000 swab kits, 200 infusion pumps, and 100 patient monitors. Medical technology support includes 1,000 sets of COVID-19 smart image-reading system and 10,000 AskBob medical AI assistants. The medical technology donated were developed by Ping An. The AskBob medical AI assistant can be used to provide the public with COVID-19 education and Q&A assistance. The COVID-19 smart AI-empowered image reading system can generate accurate and rapid analysis of CT scans for each individual case within 15 seconds, with an accuracy rate reaching 97%. This service can aid and support doctor efficiency and accuracy in diagnosis. Ping An’s COVID-19 smart image-reading system has provided services to more than 1,500 medical institutions in China, including Hubei Province, and has assisted doctors with analysis in over a million CT scans for more than 20,000 patients.

In the past two months, the COVID-19 situation in China has improved with businesses and lives gradually returning to normal. However, the epidemic is still raging in many parts of the world, posing severe challenges to the health systems of many countries. On 20 March, the capital of Indonesia, Jakarta, declared a state of emergency and urgently needed support from the international community in terms of medical supplies and epidemic detection. This donation is in response to the Indonesian government’s request for international assistance.

Since the outbreak of the COVID-19 epidemic, Ping An has continuously introduced various initiatives in terms of insurance protection, public welfare donations and medical services, to play its part as a responsible corporate citizen. So far, Ping An has donated more than USD20 million (RMB150 million) of supplies and cash in China. Ping An has also provided free insurance protection for frontline medical staff, journalists, police officers and volunteers. Ping An joined hands with Ming Yuan Charity Fund and has donated RMB18 million to the Chinese Academy of Medical Sciences to support the Phase III clinical trials of COVID-19 drug Remdesivir and other clinical trials to combat COVID-19.

Ping An’s subsidiary Ping An Good Doctor has cooperated with 62 provincial, municipal and regional governments to provide real-time online and phone consultations. Since the outbreak, the total number of platform visits handled was 1.72 billion. Ping An Healthcare Testing Center was among the first batch of third party medical institutions authorized by Hubei Province to carry out the Nucleic Acid Test (NAT); the primary reference for COVID-19 diagnosis. The Center has also deployed 64-slice Mobile CT imaging vehicles, with over 500 tests conducted daily and over 22,000 tests conducted to date. Ping An Smart Healthcare, the smart health care team of subsidiary Ping An Smart City, created the "National Real-time COVID-19 Update System", covering 21 provinces and 31 cities. It provides smart epidemic forecasting for relevant national ministries and commissions as well as 15 provincial health committees, achieving more than 98% accuracy for 1-day forecast and 97% accuracy for 7-day forecast. Ping An Good Doctor cooperated with Grab, the Southeast Asia ride-hailing service provider, to co-launch an online medical service platform "GrabHealth" to help Indonesia in the fight against COVID-19, providing more than 10,000 daily consultations. 

"There is no distance too far between friends, for friendship gives wings to the heart." Ping An said, "The Extraordinary G20 Leaders’ Summit has called on the international community to work together to establish a united front to respond to the COVID-19 epidemic, which is a common threat to humanity. Unity and cooperation is needed more than ever as the coronavirus knows no borders. Since the outbreak of the COVID-19 epidemic, countries around the world, including Indonesia, have supported China in fighting the epidemic. At present with many countries and regions suffering from the epidemic, Ping An stands ready to do its part by leveraging its advantages in insurance protection, financial services and healthtech to help prevent and control the global epidemic, and looks forward to a resounding victory in the fight against the epidemic in the near future."

– End –

About Ping An Group

Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With over 200 million retail customers and 516 million Internet users, Ping An is one of the largest financial services companies in the world.

Ping An has two over-arching strategies, "pan financial assets" and "pan health care", which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems of financial services, health care, auto services, real estate services and smart city services. Our "finance + technology" and "finance + ecosystems" strategies aim to provide customers and internet users with innovative and simple products and services using technology. As China’s first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The Company is listed on the stock exchanges in Hong Kong and Shanghai.

In 2019, Ping An ranked 7th in the Forbes Global 2000 list and 29th on the Fortune Global 500 list. Ping An also ranked 40th in the 2019 WPP Millward Brown BrandZTM Top 100 Most Valuable Global Brands list. For more information, please visit www.pingan.cn.

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Empire State Building In Partnership With iHeartMedia’s Z100 To Kick Off Nightly Music-To-Light Shows

By | EN, PR

NEW YORK, March 28, 2020 /PRNewswire/ — Empire State Realty Trust, Inc. (NYSE: ESRT) and iHeartMedia (Nasdaq: IHRT) today announce their partnership to reach those sheltering at home with New York’s Z100’s radio waves and Empire State Building’s world-famous tower lights.  On Friday, March 27, at 9:00 p.m., the tower of the Empire State Building will illuminate the New York City skyline and beam iHeartMedia’s Z100 with a light show synced to the modern era anthem of New York City, Alicia Keys’ Empire State of Mind. The song will also be available to stream on the iHeartRadio app.

To keep the light of New York City bright, the light show will replay on Saturday, March 28, and then again from Monday, March 30 through Thursday, April 2. On Sunday, March 29, the Empire State Building will shine in a dynamic heartbeat from 9:00 p.m. to 10:00 p.m. in support of the "FOX PRESENTS THE IHEART LIVING ROOM CONCERT FOR AMERICA."

To honor the first responders who tackle this health crisis daily, Z100’s Elvis Duran will kick off every light show at 8:55 p.m. with a spotlight interview to highlight the amazing individuals who are on the front lines of the fight against COVID-19.

ESRT’s Empire State Building and IHRT’s Z100 will premiere new shows each Friday night as we work together to beat COVID-19. Listen and watch for the announcement of a new music-to-light show that will premiere on Friday, April 3, and play nightly for one week.  

Remember to comply with the directions of authorities and maintain social distance while you watch from your window, rooftop, or sidewalk. The power of iHeartMedia’s Z100 and the icon of New York City, the Empire State Building, join to help our city, our country, and our world heal and maintain perspective. Additionally, the show, designed by world-renowned lighting artist Marc Brickman, will be streamed on the Empire State Building’s Facebook page.

"The Empire State Building has always served as an international symbol of hope, of challenges overcome, and of New York City itself," said Anthony E. Malkin, Chairman and CEO, ESRT. "With iHeartRadio, the radio network of America, she provides comfort and inspiration to New Yorkers, America, and the world."

The public is invited to join the conversation by posting a video of themselves to their social media pages with the hashtag #EmpireStateBuilding and #iHeartNewYork tagging both the Empire State Building and iHeartRadio to share how we are all still able to connect with each other.

"New Yorkers always find a way to unite and encourage one another during challenging times," said Tom Poleman, Chief Programming Officer for iHeartMedia. "Our hope is to continue to provide some comfort to our listeners through the healing powers of music, as we show our country’s resilience and strength with a music-to-light show through New York icons Z100 and the Empire State Building."

For more information about the Empire State Building and iHeartMedia, please visit www.empirestatebuilding.com and www.iHeartMedia.com.

About the Empire State Building
Soaring 1,454 feet above Midtown Manhattan (from base to antenna top), the Empire State Building, owned by Empire State Realty Trust, Inc., is the "World’s Most Famous Building." With new investments in energy efficiency, infrastructure, public areas and amenities, the Empire State Building has attracted first-rate tenants in a diverse array of industries from around the world. The Empire State Building was named the world’s most popular travel destination in a study conducted by Uber and was named America’s favorite building in a poll conducted by the American Institute of Architects. For more information on the Empire State Building, please visit www.empirestatebuilding.com, www.facebook.com/empirestatebuilding, https://twitter.com/empirestatebldg, www.instagram.com/empirestatebldg, http://weibo.com/empirestatebuilding, www.youtube.com/esbnyc, or www.pinterest.com/empirestatebldg.

About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the "World’s Most Famous Building." Headquartered in New York, New York, the Company’s office and retail portfolio covers 10.1 million rentable square feet, as of December 31, 2019, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; and approximately 700,000 rentable square feet in the retail portfolio.   

About iHeartMedia New York
iHeartMedia New York owns and operates WHTZ-FM, WKTU-FM, WAXQ-FM, WWPR-FM, WLTW-FM and WOR-AM. iHeartMedia (NASDAQ: IHRT) is the number one audio company in the United States, reaching nine out of 10 Americans every month – and with its quarter of a billion monthly listeners, has a greater reach than any other media company in the U.S. The company’s leadership position in audio extends across multiple platforms, including more than 850 live broadcast stations in over 150 markets; digital radio via its iHeartRadio digital service available across more than 250 platforms and 2,000 devices; through its on-air influencers; social; branded iconic live music events; and podcasts as the #1 commercial podcast publisher. iHeartMedia also leads the audio industry in analytics, targeting and attribution for its marketing partners with its SmartAudio product, using data from its massive consumer base. Visit iHeartMedia.com for more company information.

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AU Optronics Corp. Files 2019 Annual Report on Form 20-F

By | EN, PR

HSINCHU, March 27, 2020 /PRNewswire/ — AU Optronics Corp. ("AUO" or the "Company") (TWSE: 2409; OTC: AUOTY) today announced that it has filed its annual report on Form 20-F for the year ended December 31, 2019 with the U.S. Securities and Exchange Commission (the "SEC"). The 2019 20-F is available on AUO’s website at http://auo.com and on the website of the SEC at www.sec.gov. Hard copies of the audited financial statements included in the 2019 Form 20-F are available upon request to shareholders free of charge. To request a copy of the 2019 Form 20-F, please forward your request to https://app.irdirect.net/company/49733/hotline/.

ABOUT AU OPTRONICS

AU Optronics Corp. ("AUO") is one of the world’s leading providers of optoelectronic solutions. Based on its profound R&D and manufacturing experience, AUO offers a full range of display applications and smart solutions integrating software and hardware, and leverages its core expertise to enter new business areas such as solar, smart retail, general health, circular economy and smart manufacturing service. Additionally, AUO has also been named to the Dow Jones Sustainability World Index since 2010. AUO’s consolidated net revenues in 2019 were NT$268.79 billion. For more information, please visit AUO.com.

Safe Harbour Notice 

AU Optronics Corp. ("AUO" or the "Company") (TWSE: 2409), a global leader of TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our management’s expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance of and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Annual Report on Form 20-F filed with the United States Securities and Exchange Commission on March 27, 2020. In addition, our SEC reports, including our Annual Report on Form 20-F contains other information on these and other factors that could affect our financial results and cause actual results to differ materially from any forward-looking information we may provide. We undertake no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.

 

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Change of CEO – Computime is Unfolding a New Chapter

By | EN, PR

HONG KONG, March 27, 2020 /PRNewswire/ — The board of directors (the "Board") of Computime Group Limited ("Computime" or the "Company", together with its subsidiaries the "Group", stock code: 320.HK) announces that Mr. AUYANG Pak Hong Bernard ("Mr. Bernard AUYANG"), a Non-executive Director of the Company, has been re-designated as an Executive Director and the Chief Executive Officer, succeeding Dr. OWYANG King with effect from 1st April 2020. This announcement represents the Group’s ongoing and thoughtful planning in management organization, which ensures a smooth transition for Computime as the Company continues to deliver specialized and innovated solutions in the electronics manufacturing and Internet of Things service space. Dr. OWYANG King will remain as an Executive Director as a result of the transition, and will allow the Company to continue to benefit from his expertise in research and development.

Mr. Bernard AUYANG, aged 52, has over 28 years of experience in general management and the corporate industry. He was in his latest position as an Executive Director and the Chief Executive Officer with the Company between October 2006, the time of successful listing, and October 2009, later deciding to pursue other ventures. After, he has been the Chairman of Vida Nova Ventures, a Hong Kong based investment firm, since 2009, and the Chief Executive Officer of Altis Zenus Group, a brand and technology company focusing on innovative communication and outdoor products since 2016. Mr. Bernard AUYANG was also a recipient of the Young Industrialist Awards of Hong Kong in 1999, and was named the Hong Kong Young Industrial Ambassador in 2002. He remains as part of several prestigious academic bodies including the court member of the Hong Kong University of Science and Technology, and a member of the committee of Overseers of Wu Yee Sun College of The Chinese University of Hong Kong.

"I am very proud of the accomplishments made by Computime, and leading it as its Chief Executive Officer has been an honour and privilege," said Dr. OWYANG King. "Bernard is a highly-dedicated and talented leader, with a wealth of experience in the consumer electronics sector regarding branding and product enhancement. I am very confident that the Company is in good hands and I look forward to working with him closely in my new position as Bernard leads Computime to even greater heights."

Mr. Bernard AUYANG said, "I am deeply honoured and humbled to have been selected as the next Chief Executive Officer of Computime and I look forward to working closely with Dr. King, the Board, and the Company’s truly-exceptional staff to continue on bringing Computime to the global stage. I hope my expertise would help in identifying the latest market trends and tapping into new geographical markets through our growing and diversifying product portfolio, eventually delivering sustainable values to our shareholders. I am grateful for Dr. King’s contributions to the Company and I have no doubt that he will continue to leverage his expertise in technology and product development as part of the Group’s mission to deliver quality manufacturing and design solutions to our customers."

After the re-designation, Mr. Bernard AUYANG would be responsible for corporate strategy planning, business development, corporate decision making, and general management of the Group. Meanwhile, Dr. OWYANG King will continue to dedicate his resources and time, focusing on the research and development of future technologies. The Group and the Board would like to take this opportunity to welcome Mr. Bernard AUYANG on board, and to express their sincere gratitude to Dr. OWYANG King for his valuable efforts and contributions to the Group during his tenure of service as the Chief Executive Officer.

About Computime Group Limited

Computime Group Limited is a specialist in design, manufacturing and Internet of Things solutions in the electronics manufacturing services space, offering customized, turnkey design and manufacturing solutions to its established and diversified list of clients. Through bespoke IP and sophisticated research and development capabilities, the Group has also launched its own line of proprietary products under the brand SALUS in the European and North American markets.

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iClick Interactive Releases iAudience Data Report on Chinese Internet User Behavior During COVID-19 Outbreak

By | EN, PR

HONG KONG, March 27, 2020 /PRNewswire/ — iClick Interactive Asia Group Limited ("iClick" or the "Company") (NASDAQ: ICLK), an independent online marketing and enterprise data solutions provider in China, announced the release of a report analyzing how the novel coronavirus (COVID-19) outbreak has affected the online behavior of Chinese netizens, using data from iClick’s proprietary market intelligence platform, iAudience.

Growth tendency of Chinese internet users searching for keywords related to novel coronavirus
Growth tendency of Chinese internet users searching for keywords related to novel coronavirus

The iAudience data is a clear illustration of how the mindset of Chinese netizens has changed at different stages of the epidemic. In 2019 as whole, over 300 million Chinese internet users followed health-related topics online. At the start of the epidemic in December last year, keywords relating to the novel coronavirus increased significantly, with over 40 million users searching for or viewing topics and content relating to the virus. The data shows this figure increased rapidly at the beginning of February, only beginning to decrease in early March.

Age and geographic distribution of searches for/views of coronavirus-related content in China
Age and geographic distribution of searches for/views of coronavirus-related content in China

Of internet users in China to follow the development of the epidemic online, roughly 69% were male, twice the number of women who followed topics relating to COVID-19. The 35-54 age group was the demographic most likely to view coronavirus-related content, representing 50% of overall Chinese internet users who did so.

In terms of regional differences, users based in the Chinese provinces of Zhejiang, Guangdong and Jiangsu followed the coronavirus outbreak most closely compared to all other provinces. The data also shows that the consumption behavior of internet users in China tier-four and below cities was affected the least by the epidemic, whereas the area to experience the largest impact to consumption was Hubei province, the center of the epidemic in China.

Interest categories for internet users during COVID-19 epidemic period in China
Interest categories for internet users during COVID-19 epidemic period in China

During the epidemic period, Chinese internet users became more interested in topics relating to health, work, education and personal finance. There was a noticeable increase in the amount of time spent by urban Chinese internet users on matters regarding investment and personal finance, who spent more time consuming information of this nature than anything else, apart from everyday topics while stuck at home. After the peak of the epidemic, consumers showed an increased interest in financial insurance, which could impact their consumption behavior with regard to clothing, pets and consumer electronics. Chinese internet users are also now showing greater interest in overseas travel content, indicating a rekindling of their desire to travel the world once the global epidemic passes.

Word cloud for coronavirus-related keywords in China, January 2020 and March 2020
Word cloud for coronavirus-related keywords in China, January 2020 and March 2020

Amid the period of the epidemic, TV news and online media remained the largest sources of information for consumers, and aside from traditional media, notices posted in communities became a major source of information for residents in China.

The iAudience report also shows significant differences in keywords searched relating to the virus at different stages of the epidemic. The data indicates that at the beginning of the epidemic, users were mostly concerned about the number of cases in their local area, local healthcare initiatives, and closely followed the latest updates from both the central and local government bodies. By March, when the epidemic was viewed to be largely under control in China, searched keywords began to show a greater focus on topics such as returning to the workplace and schools reopening.

About iAudience

iAudience is iClick’s proprietary market intelligence platform, empowering marketers with a deeper understanding of the Chinese market landscapes and enabling marketers to grasp potential opportunities. With the backing of iClick’s vast data platform, iAudience analyzes real-time data about Chinese internet users’ behavior to develop valuable market information and insights into consumer profiles. iAudience is the crystallization of the wide expanse of data into a single, integrated real time platform for marketers.

About iClick Interactive Asia Group Limited

iClick Interactive Asia Group Limited (NASDAQ: ICLK) is an independent online marketing and enterprise data solutions provider that connects worldwide marketers with audiences in China. Built on cutting-edge technologies, our proprietary platform possesses omni-channel marketing capabilities and fulfils various marketing objectives in a data-driven and automated manner, helping both international and domestic marketers reach their target audiences in China. Headquartered in Hong Kong, iClick was established in 2009 and is currently operating in ten locations worldwide including Asia and Europe.

For more information, please visit ir.i-click.com.

Safe Harbor Statement

This announcement contains forward-looking statements, including those related to the Company’s business strategies, operations and financial performance. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s fluctuations in growth; its success in implementing its mobile and new retail strategies, including extending its solutions beyond its core online marketing business; its success in structuring a CRM & Marketing Cloud platform; relative percentage of its gross billing recognized as revenue under the gross and net models; its ability to retain existing clients or attract new ones; its ability to retain content distribution channels and negotiate favorable contractual terms; market competition, including from independent online marketing technology platforms as well as large and well-established internet companies; market acceptance of online marketing technology solutions and enterprise solutions; effectiveness of its algorithms and data engines; its ability to collect and use data from various sources; ability to integrate and realize synergies from acquisitions, investments or strategic partnership; fluctuations in foreign exchange rates; and general economic conditions in China and other jurisdictions where the Company operates; and the regulatory landscape in China and other jurisdictions where the Company operates. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and other filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries:

In China:

iClick Interactive Asia Group Limited

Lisa Li

Phone: +86-21-3230-3931 #892

E-mail: [email protected]

 

In the United States:

Core IR

John Marco

Phone: +1-516-222-2560

E-mail: [email protected]

 

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Xinyuan Real Estate Co., Ltd. to Report Fourth Quarter and Full Year 2019 Unaudited Financial Results on April 3, 2020

By | EN, PR

BEIJING, March 27, 2020 /PRNewswire/ — Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager, today announced that it will release its unaudited financial results for the fourth quarter and full year ended December 31, 2019 on Friday, April 3, 2020, before U.S. markets open.

Xinyuan’s management team will host an earnings conference call to discuss its fourth quarter and full year 2019 financial results on Friday, April 3, 2020 at 8:00am ET, listeners may access the call by dialing:

US Toll Free:

1-800-263-0877

Toll/International:

1-323-794-2094

Mainland China National:

4001 209101

Hong Kong Toll Free:

800 961 105

United Kingdom Toll Free: 

0800 358 6377

A replay of the conference call may be accessed by phone at the following numbers until April 10, 2020:

US:

1-844-512-2921

International:

1-412-317-6671

Access code: 

7859451

A live and archived webcast of the conference call will be available at http://ir.xyre.com.

A live broadcast will be also available at Roadshowing and FUTU platform, the links are as follows:
https://q.futunn.com/nnq/detail?id=103877707104260
 
https://m.roadshowing.com/#/showdetails/16343

About Xinyuan Real Estate Co., Ltd.

Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real estate developer and property manager primarily in China and in other countries. In China, Xinyuan develops and manages large scale, high quality real estate projects in over ten tier one and tier two cities, including Beijing, Shanghai, Zhengzhou, Jinan, Xi’an, Suzhou, among others. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York City. Xinyuan aims to provide comfortable and convenient real estate related products and services to middle-class consumers. For more information, please visit http://www.xyre.com.

For more information, please contact:

Xinyuan Real Estate Co., Ltd.
Mr. Charles Wang
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: [email protected]

The Blueshirt Group
In U.S.: Ms. Julia Qian
Email: [email protected]

In China: Ms. Susie Wang
Mobile: +86 (138) 1081-7475
Email:  [email protected]

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Wison Engineering’s 2019 Revenue Increase by 34% to RMB 4.37 Billion

By | EN, PR

Achieves Breakthroughs in Market and Technology Development with Substantial Growth in New Contracts and Backlog Value

SHANGHAI, March 27, 2020 /PRNewswire/ — Wison Engineering Services Co. Ltd., ( ‘Wison Engineering’, HKEX Stock Code: 2236, together with its subsidiaries, the "Group" ), a leading engineering, procurement and construction (EPC) service provider in China, announced its annual results for the twelve months ended 31 December 2019 (the "Period under Review").

Significant growth on new contract representing a y-o-y increase of 34.1% to RMB 12,777 million

During the Period under Review, revenue of the Group amounted to approximately RMB4,367.3 million, representing a year-on-year increase of 34.1%. The increase in revenue was mainly attributable to the increase in revenue recognized during the Period as a result of the satisfactory progress achieved by the Group’s key projects, and the overseas petrochemical projects in North America and Middle East have entered into the peak construction stage. The gross profit amounted to approximately RMB408.2 million, representing a year-on-year decrease of 18.2%. During the Period, profit attributable to owners of the parent amounted to approximately RMB50.6 million, representing a year-on-year decrease of 10.1%. The decrease in profit attributable to owners of the parent was mainly attributable to the fact that the Group’s implementation of strategic projects in new markets which obtained a low gross profit margin in 2019, and which projects recorded relatively large proportion of the Group’s revenue during the period. In addition, the investment increase in research and development, market expansion, new business development, talent and capacity reserves, as well as increase in spending on overseas income tax, which also resulted in the decline of the profit.

During the Period under Review, total new contracts secured by the Group amounted to approximately RMB12,776.6 million (net of estimated value added tax), representing a substantial year-on-year increase of 78.3%. As at 31 December 2019, the Group’s total backlog value was approximately RMB21,868.0 million (net of estimated value added tax), representing an increase of 65.7% compared to the total backlog value as of 31 December 2018. The continually substantial increase in new contract and backlog value will lay a solid foundation for the Group’s future development. The Board of directors recommended a final dividend of RMB0.0037 (equivalent to HK$0.0040) per ordinary share. The Board is committed to returning for the long-term support of shareholders, and will implement the dividend policy based on the Company’s business performance, strategic development and market changes.

Prompt reply to the market change with continual breakthroughs in technology and market development

During the Period, the global economy and energy and chemical market were deeply affected by the geopolitics and global trading relationships. With sluggish global economic growth and slowdown of crude oil demand, the overall international chemical market dropped and the domestic chemical market became a key pillar for the expansion of global production capacity. With the domestic oil and gas industries further open to private and foreign enterprises, the huge potential in the Chinese market has attracted numerous major domestic private enterprises and renowned international companies to actively establish their presence, thus generating market opportunities for the EPC companies.

Responding to the challenges and opportunities, the Group took full advantage of flexible operating mechanisms of a private enterprise, and continued to achieve breakthroughs and innovations. During the period, the Group established "Major Customer Department", "Emerging Market Department" and "Strategic Growth Center" which will mainly focus on the clients of foreign-funded companies in China. In respect of new markets development, the Group achieved the breakthrough in conducting EPC projects for Saudi Aramco; secured its first Front-End Engineering Design (FEED) contract in relation to the MTO Project in Russia; and achieved breakthrough in the business of municipal and environmental projects in China as well. In respect of technology innovation, the Group achieved digital delivery which had been successfully verified in a million-ton ethylene design project; achieved the promotion of self-developed technologies and technology transfer of C5-C6 Isomerization; applied a combined technology of MTO and butadiene for the first time. The Company obtained outstanding performance in talent and technology reserves, while extending the industrial chain and establishing presence in markets.

Building on local market and grasping new opportunities in domestic market, while committed to the internationalization strategy

As an engineering company rooted in China with extensive experience in overseas projects as well, the Group upheld the strategy of building on local market and expanding into the international market. In response to the needs of various clients, the Group increased its application in refined project management, digitalization and modularization to create greater value for customers. During the Period, the Group secured a total of 65 new domestic projects, with an aggregate contract value of approximately RMB12.09 billion. These new projects involved various types of engineering works, such as refinery-petrochemical integration, ethylene, coal-to-chemicals, PTA and PDH, in which, the Group had made significant progress in several key domestic projects. For example, the Group entered into a general contractor contract with Zhejiang Petrochemical for 2# 1,400kta ethylene plant. By strengthening the control over the project safety and construction management, the project was awarded the title of "2019 Exemplary Civilized Construction Site of Zhejiang Petrochemical Phase II Project" by the owner, which fully demonstrated Wison Engineering’s remarkable capabilities in project management, and built the world’s leading brand of project execution capabilities..

For the international markets, during the period, the Group secured 10 new projects, mainly from two core markets, namely North America and the Middle East. Following the establishment of the Middle East Operations Center, the Group established the North America Operations Center during the period, which will help to swiftly response to the local owners and develop the North America market. In 2019, the Group has been awarded a polypropylene FEED project in Louisiana, the United States, which was Wison Engineering’s first FEED project in the United States. In addition to the key regions, the Group has established more than ten branches in Russia, the Commonwealth of Independent States, Southeast Asia and Africa as well as those districts along the "Belt and Road" initiative, laying the foundation for expanding new markets.

Accelerating the implementation of digitalization and modularization to boost the industry transformation

Wison Engineering adhered to the strategy of "Technology-driven Development", and actively promoted the application of digitalization, intellectualization and modularization. Modular prefabrication could effectively control the projects progress and quality, significantly shorten construction period and improve work efficiency, which is a highly effective solution for large-scale petrochemical plants, especially in the regions with high construction costs, resource shortage and higher construction risks. During the period, the Group completed and delivered 3 modularization projects in the United States.

Digitalization and intelligence will be the future development directions in the energy and chemical engineering industry. In particular, the outbreak of the novel coronavirus epidemic in early 2020 underscores the importance of digitalization. During the Period, the Group insisted in promoting digital transformation. By enhancing digital capability involved in EPC, project management and other processes, the Group gradually developed "Intelligent Factory" through conducting "Smart Project". Wison Engineering improved its contents and depth of automatic completion system, which has been successfully verified in a million-ton ethylene design project. The Company is capable of meeting the domestic and overseas owners demand with industry-leading digitalization capability, which will put the Group in a strong position to take advantage of the industry transformation.

Forging ahead despite challenges while actively exploring new opportunities

In 2020, the novel coronavirus epidemic outbreak has been casting challenges to the economy and industry. In view of the development of the epidemic, the Group rolled out a number of adjustment measures and strictly implemented the epidemic prevention work accordingly to ensure the health and safety of employees. The Group’s works have gradually resumed normal now and overtime works have been arranged to push ahead with the progress and reduce the impact of the epidemic. In addition, affected by the tense trading relationship, geopolitical conflicts and the breakdown of the crude oil production reduction agreement, global economy will witness a discernible slowdown and crude oil price sharply declined to its lowest level since 2016. It is anticipated that international oil price will remain volatile in 2020, but the global production capacity will maintain growth in the medium and long term.

The Group will forge ahead despite there are a series of uncertainties and challenges, and actively explore new opportunities as well. Ms. Rongwei, the Executive Director and Chief Executive Officer of Wison Engineering, said, "2020 will be full with challenges and opportunities, Wison Engineering will constantly pay attention to the changes in the epidemic and economy, and adopt responsive measures flexibly and calmly. Focusing on the market with large potential and high gross margins, the Group will continue to build ‘Highland of Talent’, promote innovation in management mechanisms, and strengthen research and development, project management and financing capabilities. Meanwhile, we strive to extend the industrial chain to the fields of catalysts, new materials, and energy-saving and environmentally-friendly business. Wison Engineering will implement the strategy of ‘Customer Value as the Core’ and ‘Technology-driven Market", and devote to increase the Company’s overall competitiveness and profitability." 

About Wison Engineering

Wison Engineering, headquartered in Shanghai, was established in 1997 and listed on the Hong Kong Stock Exchange in 2012 (stock code: 02236.HK). As one of the leading chemical EPC service and technology providers in China, Wison Engineering specializes in serving petrochemicals, coal-to-chemical and oil refining industries. From project planning, consultation and technology licensing to PDP, FEED, engineering design, procurement and construction management, as well as start-up and operational services, we provide services covering the entire lifecycle of the project.

For more information about Wison Engineering, please visit the Company’s website: www.wison-engineering.com, or follow Wison Engineering’s official WeChat.

For more information contact:
Charles Chan
+852-2116-4313

Related Links :

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Noah Singapore granted Capital Markets Services licence, strengthening global compliance and operations

By | EN, PR

SHANGHAI, March 27, 2020 /PRNewswire/ — Noah Holdings Singapore Pte Ltd ("Noah Singapore"), a wholly owned subsidiary of Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH), has been granted the Capital Markets Services ("CMS") licence issued by the Monetary Authority of Singapore ("MAS").

With the CMS licence, Noah Singapore can a) deal in capital markets products that are securities and units in a collective investment scheme, and b) provide custodial services. It also allows us to provide financial advisory on a) capital markets products that are securities, units in a collective investment scheme and life policies, and b) arranging of contracts of insurance in respect of life policies, other than contracts of reinsurance.

"Singapore plays a strategic role in Noah’s overall expansion in servicing our clients’ overall wealth management needs. With the issuance of the CMS licence, Noah will continue to draw on our strengths to serve Noah’s high net worth clients with an expanded suite of investment and wealth management solutions in Singapore," said Noah Singapore CEO, Mr. Tao Thomas Wu.

International business markets expansion is of importance

According to 2019 fourth-quarter annual report results released by Noah, Noah has a cumulative allocation scale of RMB686.7 billion and a total of 293,760 high-net-worth clients. The group is actively expanding its global footprint and has established a strong presence with offices in Hong Kong, Jersey, New York, Silicon Valley, Vancouver, Melbourne, and now Singapore. Noah manages businesses in diversified products such as private equity investments, real estate fund investments, open market investments, family wealth and discretionary businesses.

The net income of Noah’s overseas businesses increased by 25.4% to nearly RMB1 billion in 2019, which accounts for 22.9% of the Group’s total revenue in 2018 to 27.9%.

Noah’s overseas businesses have contributed significantly, resulting in continuous advancement of Noah’s internationalisation strategy. The comprehensive range of services such as insurance brokerage, family trusts, other asset management and investor education have improved steadily leading to a more cohesive approach to better serve clients, bringing synergy with traditional financial services structure.

According to the Global Financial Centre Index 2019, Singapore is ranked as the 4th most competitive financial centre and has become a strategic link for global investors to access fast-growing and developed markets of the Asia-Pacific region as well as Europe and US.

Noah Singapore, established in 2018, is a wholly owned subsidiary of Noah Group. Noah Singapore is dedicated to providing Chinese high net worth individuals, families and enterprises with a holistic and comprehensive range of global asset allocation, wealth management and other bespoke financial services. Noah Singapore plays an important role of the group’s internationalisation strategy.

Singapore Capital Markets Services licence deepens global compliance and operations overseas

The issuance of the CMS licence to Noah Singapore has further expanded and enhanced Noah’s overseas footprint.

Prior to this, Noah Hong Kong was approved by the Hong Kong Securities and Futures Commission on January 4, 2012 for Type 1 (securities trading), Type 4 (advising on securities) and Type 9 (providing asset management) licences. In 2016, Ark Trust (Jersey) Co., Ltd. obtained the Jersey Trust Licence. In 2017, Noah America officially obtained the California Insurance Licence.

Relying on the exemption of the financial licence issued by the Hong Kong Securities Regulatory Commission in Australia, Noah has also obtained the authority to carry out financial services in Australia. In 2019, Noah Canada successively obtained three licences: Investment Fund Manager (IFM), Exempted Market Dealer (EMD) and Portfolio Management (PM).

These licences have laid the foundation for compliance of Noah’s overseas businesses and also improved Noah’s internationalisation expansion steadily.

Mr. Tao Thomas Wu is Chief Executive Officer of Noah Singapore and is also Deputy Group President of Noah Holdings Limited. Mr Wu has nearly three decades of experiences in financial services. He served as Chief Financial Officer of Noah from 2010 to 2013. Prior to re-joining Noah, Mr Wu was Asia Pacific chief strategy officer of Bank Julius Baer. Mr. Wu has also held key executive positions with J.P. Morgan, Alliance Bernstein, and Moody’s Investors Services in New York, Singapore, and San Francisco.

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111 and Wenjiang People’s Hospital to Build Online Cancer Diagnosis and Treatment Platform

By | EN, PR

SHANGHAI, March 27, 2020 /PRNewswire/ — China’s leading online pharmaceutical network and healthcare service provider is partnering with the Wenjiang People’s Hospital in Chengdu to build an online cancer diagnosis and treatment platform for rare tumors using imported drugs. The new rare tumor platform will be linked with the national network of online diagnosis and treatment services operated by 111, Inc. (NASDAQ: YI) ("111"), which is creating a healthcare ecology around medical consultations as well as prescription drug supply through its partnerships with 235,000 out of China’s 450,000 pharmacies.

The new Internet hospital based in the Wenjiang district of Chengdu in Sichuan Province will leverage the tumor diagnosis and treatment platform under the Alliance Healthcare Services (AIQ) – Wenjiang International Oncology Institute affiliated with Wenjiang People’s Hospital, as well as provide services similar to 111’s growing network of Internet hospitals. Services will include online consultation, follow-up consultations for chronic disease patients, safe and traceable e-prescriptions, and medication sales and delivery. It will also feature a prescription information system with prescription traceability throughout the process from consultation to delivery of prescription drug refills, enabled by 111’s data analytics and Customer Relationship Management (CRM) technology.  

Rich, integrated healthcare resources create favorable industry environment in Wenjiang

Mr. Tong Liu, Senior Vice President and Chief Public Relations Officer of 111, commented, "Wenjiang is a leading healthcare industry cluster with integrated expertise and resources in ‘medical science, medical products, and medical care + artificial intelligence/big data analytics’. This was the key factor in our decision to set up operations here. We are very excited to be establishing a foothold in Wenjiang. As the first Internet pharmaceutical and healthcare platform in Wenjiang, we are confident that we will serve the local government as a strong private sector partner. We will leverage our advantages in Internet technology and supply chain management further empower the local healthcare industry in Wenjiang."

Wenjiang has been designed to serve as a demonstration model for high technology healthcare, with a development plan centered on the integration of "medical science, medical products, and medical care + artificial intelligence/big data analytics". Its three industrial parks, Chengdu Medical City (CMC), Chengdu Modern Service Industrial Cluster, and Chengdu Modern Agricultural High-Tech Industrial Park, are under construction as part of the China (Sichuan) Pilot Free Trade Zone and a business environment demonstration zone. Newly included in the central urban district of Chengdu, Wenjiang has ranked among the Top 100 Chinese Districts for Comprehensive Strength for eight consecutive years.

The Wenjiang health cluster includes more than 300 biomedical enterprises, 30 medical care institutions, and 5 high-end healthcare institutions and nursing homes. Within the cluster, revenue of the pharmaceutical and healthcare enterprises in Chengdu Medical City has increased by 25% annually over the past three years

A Wenjiang Investment Promotion Bureau Administration official commented: "As China deepens its medical sector reforms and promotes the Internet + healthcare’ concept, we are excited to welcome leading Internet pharmaceutical and healthcare companies like 111 to set up operations in our district and join forces with local enterprises. We look forward to seeing more technology-powered healthcare collaborations in Wenjiang that will build our advantages as a national and regional healthcare hub."  

An alliance to improve resource allocation of imported anti-tumor drugs

111’s Chengdu Internet hospital and Wenjiang People’s Hospital will leverage the tumor diagnosis and treatment platform under the Alliance Health Care Services (AIQ) – Wenjiang International Oncology Institute affiliated with Wenjiang People’s Hospital to improve resource allocation of imported anti-tumor drugs.

A Wenjiang People’s Hospital supervisor, added, "With 111’s support, we will be able to take better advantage of cloud-based solutions and smart supply chain management to supply international anti-tumor drugs. Through this partnership, we are looking to expand our service coverage for our rare tumor program beyond the southwestern region to reach patients nationwide."

Mr. Liu added, "Our Internet hospital business is playing a pivotal role in 111’s development in central and western China. Our strategy is to leverage information technology to enable patients nationwide to access high-quality medical resources in eastern China and other centers of excellence, such as the healthtech cluster in Wenjiang. The partnership with the Wenjiang People’s Hospital deepens our diagnostic resources and strengthens our industrial value chain based on closed-loop services from diagnosis to medication and payment."

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111’s strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About 111, Inc.

111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading integrated online and offline healthcare platform in China. The Company provides hundreds of millions of consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy and indirectly through its offline pharmacy network. 111 also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation and electronic prescription services. In addition to providing direct services to consumers through its online retail pharmacy, 111 also enables offline pharmacies to better serve their customers. The Company’s online wholesale pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. The Company’s new retail platform, by integrating the front and back ends of the pharmaceutical supply chain, has formed a smart supply chain, which transforms the flow of pharmaceutical products to pharmacies and modernizes how they serve their customers.

For more information on 111, please visit http://ir.111.com.cn/.

For more information, please contact:
111, Inc.
IR Director
Ms. Monica Mu
E-mail: [email protected]

Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: [email protected]

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: [email protected]    

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