Cybersecurity News in Asia

HONG KONG, July 7, 2022 /PRNewswire/ — CLPS Incorporation (the “Company” or “CLPS”) (Nasdaq: CLPS), today announced the development of a new generation of loan management system (the “loan management system”), a product intended for small and medium-sized banking institutions. CLPS plans to launch the loan management system in Hong Kong and Southeast Asia region in 2023.

Digital transformation is taking a toll on traditional banks in Hong Kong. In scenarios that are difficult for traditional banks to cover, virtual banks use their data and technology advantages to gain more clients. In response, traditional banks have increased their investments in utilizing innovative technologies to keep up with the online banking trend, particularly as people have started adjusting to the ‘new normal’ brought by the pandemic. A strategy such as this involves the adoption of new product designs and the gradual transformation of legacy system without affecting the operation as a whole, in order to meet future system updates and development.

In a preliminary market research conducted by CLPS, it determined the eminent demand for a loan management system among its banking clients in Hong Kong and Southeast Asia. With the promising result, CLPS has been optimizing its loan management system by integrating its mature products with innovative technology such as blockchain, robotic process automation (RPA), optical character recognition (OCR), and facial recognition. The goal of the optimization is to achieve a more comprehensive and streamlined loan process flow, including in mortgage application, credit checking, and drawdown, among others, ensuring the privacy and security of information transmission while effectively shortening the processing time. As a result, customers can apply for a loan conveniently anytime, anywhere, reducing banking institutions’ operating costs and gaining a wider range of new business opportunities.

In the current market, bank loan management systems that adopt fintech-based technology are mostly designed for personal consumer loans and P2P lending. This situation has led CLPS to develop a new system that can support complex scenarios such as mortgage loans, thus expanding the application scope of the product and filling in the market gap.

To shorten product launch cycle, the new system also consists of parametric configuration which will allow banks to customize the design based on their respective credit rules and target customers. In addition, the secure and efficient integration interface allows it to be freely assembled and disassembled as functional components. Further, it can be integrated seamlessly with a bank’s existing core banking system and with other legacy systems in order to adapt to rapidly changing business needs.

Mr. Jackson Yuen, Product Manager of the loan management system of CLPS, said, “From a high-level design perspective, we leverage our expertise in innovative technology and our achievements in fintech to optimize our new product, creating a new generation of loan management system that will reduce costs and increase efficiency among banks.”

“Digital products and services offered by traditional banks should be improved in Hong Kong, as it actively promotes technological innovation in the banking sector,” said Mr. Raymond Lin, Chief Executive Officer of CLPS. “We hope to take this as an entry point to further invest in product development and help our clients in building distinctive businesses to remain competitive in the future of digital transformation.”

About CLPS Incorporation

Headquartered in Hong Kong, CLPS Incorporation (the “Company”) (Nasdaq: CLPS) is a global leading information technology (“IT”) consulting and solutions service provider focusing on the banking, insurance, and financial service sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial service industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong SAR, and their PRC-based IT centers. The Company maintains 19 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Baoding, Xi’an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The remaining eight global centers are located in Hong Kong SAR, USA, Japan, Singapore, Malaysia, Australia, India, and the Philippines. For further information regarding the Company, please visit: https://ir.clpsglobal.com/, or follow CLPS on Facebook, Instagram, LinkedIn, and Twitter.

Forward-Looking Statements

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance. Known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, may cause the actual results and performance of the Company to be materially different from such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company’s expectations of the Company’s future growth, performance and results of operations, the Company’s ability to capitalize on various commercial, M&A, technology and other related opportunities and initiatives, as well as the risks and uncertainties described in the Company’s most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Contact:

CLPS Incorporation
Rhon Galicha
Investor Relations Office 
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com

HONG KONG, July 7, 2022 /PRNewswire/ — UCLOUDLINK GROUP INC. (“UCLOUDLINK”) (NASDAQ: UCL), the world’s first and leading mobile data traffic sharing marketplace, has formed a strategic partnership with Tuya Inc. (“Tuya”) (NYSE: TUYA，HKEX：2391), a global leading IoT cloud development platform, to initiate comprehensive technological cooperation in the field of Internet of Things (“IoT”). UCLOUDLINK and Tuya will leverage their respective technological advantages and make joint efforts into research and development in the IoT industry of cloud era.

“We are excited to extend our partnership in the IoT industry by cooperating with Tuya. Empowered by UCLOUDLINK’s expertise in data connectivity services, Tuya’s smart products will benefit from UCLOUDLINK’s cloud SIM technology and hyper-connectivity solution to access reliable, better, and high-quality internet data connectivity services, helping users expedite the process of digital transformation and enabling them to enjoy the benefits provided by the enhanced IoT solutions.” said Chaohui Chen, Director and CEO of UCLOUDLINK.

Mr. Chen continued, “The partnership will not only produce win-win outcomes but also go a long way in driving the innovation of IoT industry in the cloud era as a whole. UCLOUDLINK specializes in developing innovative IoT solutions empowering single entry point to access all available networks while reducing overall data connectivity services costs, and our solutions are widely applied in a variety of commercial scenarios including industry Wi-Fi router, IP Camera, Power, emergency services and Autopilot, etc.”

UCLOUDLINK continues to facilitate the acceleration of the cloud era of IoT through its PaaS and SaaS platform based on cloud SIM technology and hyper-connectivity solution. The possible surge in demand for IoT cloud services will create significant business growth opportunities for UCLOUDLINK. As the pioneer technology solution provider in the data connectivity sector, UCLOUDLINK will keep collaborating with more business partners worldwide to accelerate the development of IoT industry in the cloud era.

About UCLOUDLINK GROUP INC.
UCLOUDLINK is the world’s first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company’s products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, while providing reliable connectivity, high speeds and competitive pricing. For more information, please visit: https://www.ucloudlink.com/.

Contact:
Carina Cheung
carina-pr@ucloudlink.com
+852-31758988

With its ability to develop solutions that respond to clients’ needs, True IDC cements its position as a leader in Thailand’s data center service segment.

SAN ANTONIO, July 6, 2022 /PRNewswire/ — Frost & Sullivan recently evaluated the Thailand data center services industry and, based on its findings, recognizes True Internet Data Center Co. Ltd (True IDC) with the 2022 Thailand Data Center Services Company of the Year Award. The company focuses on sustainability in data center design and operations through improved energy efficiency, to differentiate in the highly competitive market. The leading data center and cloud services provider in Thailand offers end-to-end digital infrastructure. True IDC stands out in the industry based on its formidable channel partnership program, industry-leading certifications, software-defined network that promotes an exceptional service-level agreement standard (99.999%), and customer portal that extends top-tier cloud billing and advisory services. As part of its partnership program, True IDC works with best-in-class partners, including Alibaba, Amazon Web Services, Avaya, Cisco, Google, Huawei, Microsoft, Tencent and VMware.

True IDC achieved strategic customer wins based on its continued expansion to address demand, in addition to its value proposition for integrated offerings and focus on operational excellence and innovation. The company’s impressive growth momentum and trajectory testify to its leadership, providing clients with greater value and enabling the company to capture market share.

True IDC’s infrastructure expansion investment enabled it to achieve above-industry revenue growth in 2021, and its four data centers are strategically located in North Muangthong, midtown Pattanakan, midtown Ratchada, and East Bangna, strengthening its domestic reach. The company’s fifth facility in Yangon, Myanmar, provides services beyond the borders of Thailand. The company leverages a one-stop-shop approach to continue expanding and enhancing its data center and cloud services offering. Bangna is an alternative site to Bangkok because of its economic cost of land, infrastructure, and network connectivity that supports high-scale data operations. As a result, True IDC is developing an East Bangna data center hub of four buildings as a data center campus. The first phase on eight acres of land started in 2018, while the second uptime-certified building is set to start working in 2022.

According to Nishchal Khorana, Vice President and Global Program Leader, ICT at Frost & Sullivan, “True IDC has plans to expand its Myanmar data center in Yangon and targets Malaysia, Vietnam, and Cambodia for future expansion. It has already contracted teams to acquire land for its development plans in Vietnam and Cambodia.”

Furthermore, True IDC offers customer value as a strategic imperative to complement its extensive expertise and best-in-class capabilities. The company’s premium colocation offerings meet the growing business demand of medium-to-large enterprises and government agencies. True IDC brings the control, operation, and surveillance features of its five data centers under a single roof through its Regional Command Center. The software-defined fabric network eliminates boundaries between data centers to enable seamless resource sharing and to reduce latency, leading to guaranteed service continuity and optimal availability. The company works closely with customers to assess their needs and customize their solutions for seamless execution. True IDC’s purpose-built service allows customers to devise their equipment arrangement and energy consumption, while internationally recognized certifications enable customers to run their businesses with ease. As a result, True IDC continues to establish ongoing trust with customers for long-lasting relationships that extend throughout service lifecycles. The company enhances customer experience value through the following:

• Green, sustainable data centers and an eco-friendly operation system
• Transparent and reliable relationships with global customers (hyperscalers and enterprises) to address risks and safeguard customer data
• Integration of artificial intelligence (AI) and machine learning (ML) tools within the system to add predictive capabilities; improve the efficiency in power utilization; and foster proactive, preventive maintenance
• A portal that enables customers to place and track requests for changes or extra services for a seamless experience
• Technology backbone at its interactive data and cloud data centers

“True IDC excels with its strong leadership focus that incorporates customer-centric strategies and exemplifies best practices implementation. The company remains a trusted partner, earning a reputation for offering the overall best in the data center services industry,” said Khorana.

The company achieved strategic customer wins based on its continued expansion to address demand, in addition to its value proposition for integrated offerings and focus on operational excellence and innovation. True IDC’s impressive growth momentum and trajectory testify to its leadership, providing clients with greater value and enabling the company to capture market share. With its strong overall performance, True IDC earns Frost & Sullivan’s 2022 Thailand Company of the Year Award in the data center services industry.

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:

Kala Mani. S.
P: +603.2023.2037
E: kala.manis@frost.com

About True IDC

True IDC is the leading carrier neutral data center and cloud service provider in Bangkok, Thailand and throughout major territories in ASEAN. It offers superior colocation services, connectivity services, cloud services and professional services with the most numbers of internationally-recognized certifications and consecutive global awards. True IDC partners with best-in-class technology providers including Alibaba, Amazon Web Services, Avaya, Cisco, Google, Huawei, Microsoft, Tencent and VMware to deliver the end-to-end digital infrastructure experience to its customers in all business verticals. Contact us at: www.trueidc.com

Contact:

Waraporn Nintiem
M: +66 80 441 4211
E: Waraporn.nin@ascendcorp.com

SINGAPORE, July 6, 2022 /PRNewswire/ — Group-IB, one of the global leaders in cybersecurity, has completed the first step in a series of actions aimed at separating its Russia and CIS business. Group-IB has just transferred its activities in Russia to a new entity under local management.

The company’s global headquarters registered under the legal name Group-IB Global Private Ltd. (Singapore) will continue to manage its Threat Intelligence and Research centers in Southeast Asia (Global HQ in Singapore), Europe (regional HQ in Amsterdam) and the Middle East (regional HQ in Dubai) while pursuing Group-IB’s mission and protecting its clients in these areas. Russia and CIS business from now on will evolve independently.

The two businesses’ financial flows are totally separated from each other including their costs and revenues. As per already applied internal regulation since the establishment of the Singapore headquarters, no revenues generated in any of Group-IB Global Private Ltd.’s subsidiaries are used to fund any activities in the Russia and CIS region. 

As a next step in the process, Group-IB Global Private Ltd. is committed to change its ownership structure so that in 6 months’ time Group-IB’s global assets and Russia and CIS assets would be owned by different stakeholders and UBOs.

Group-IB’s regional HQs are self-sufficient in terms of core business capabilities with best-in-class experts covering all technical functions (Digital Forensics & Incident Response, Cyber Investigations, 24/7 Computer Emergency Response Team, Threat Intelligence, Managed Cybersecurity services, R&D, etc). At the same time, Group-IB will now accelerate its global talent relocation program for management staff and technical specialists, launched in 2019 with the opening of Group-IB headquarters in Singapore. All the regional HQs are continuously enhancing their teams by hiring and developing local talent.  

“Group-IB at its core has always pursued the mission of fighting cybercrime globally”, comments Dmitry Volkov, Group-IB Global CEO, “Amidst the world and market uncertainty, we have decided to implement these changes to be able to continue to follow this mission, independent of external circumstances. We believe this will provide more market freedom and will allow us to accelerate business development in every region of Group-IB’s operations as well as bring us closer to our goal of becoming the most influential power in the fight against cybercrime”.

The diversification of business will let Group-IB to be more flexible and independent in order to keep developing its global threat hunting infrastructure, and to study local threats with the goal of providing best-in-class defense against cyber threats for its customers and partners in every region of operations. The split-off of assets is one more step in Group-IB’s long-term strategy to build the first decentralized and independent cybersecurity company relying on self-sustaining full-fledged Threat Intelligence and Research centers capable of supporting customers and developing strong partner networks in every region.

SINGAPORE, July 6, 2022 /PRNewswire/ — Chefcart Pty Ltd, a forward-thinking Singaporean technology company, is set to launch the Private Beta version of the “Chefcart” app to registered users on 6 June, 2022. The app will be available on iOS and Android as well as a web app desktop version.

Chefcart was created to tackle the biggest issues faced by both sides of the restaurant industry chain. For restaurants and chefs, the app helps with issues such as order errors, finding appropriate suppliers and communication issues such as staying informed and up to date. For manufacturers and suppliers on the other hand, Chefcart will be able to help digitalize and organize order-taking procedures and deliveries, reducing the likelihood of mistakes by up to 82%.

“With businesses involved in the restaurant industry, the biggest obstacles to better revenue numbers are two-sided. The first side includes market exposure and visibility, while the second is the management of produce and minimization of food waste. Due to this, we have created Chefcart to be a powerful tool for restaurants and supplier businesses. Chefcart will not only expose and connect users in one of the largest restaurant databases nationally but will also revolutionize their supply ordering and management processes for the better,” said Martin Mora of Chefcart.

Most importantly however, one of the main drivers behind the development of Chefcart is to significantly reduce food waste in Singapore, which Chefcart believes is the third most effective way to address climate change. Each year, the estimated amount of food waste generated rises up to 744 million Kg in Singapore alone, with the commercial sector losing up to a staggering $2.54 billion worth of food. With such numbers, Chefcart believes their solution can lead the food waste reduction revolution.

“Chefcart is launching in Singapore at a crucial time. With the National government deciding to push towards transforming Singapore’s food supply chain to address food security problems, digital platforms like Chefcart can help bridge the gap and facilitate an easier transition towards sustainable food production,” says Martin Mora, Chefcart’s Launch Manager for Singapore.

To register for the private Beta, visit https://www.chefcart.com.au/private-beta-sg

About Chefcart

Chefcart is a technology company. It works as a bridge between food suppliers and restaurants, streamlining their processes and helping them reduce inefficiencies, with the objective of reducing food waste.

For more information, visit www.chefcart.sg

For media enquiries contact Martin Mora:
+65-6809-5023
martin.mora@chefcart.com.au

BEIJING, July 6, 2022 /PRNewswire/ — On July 6, the 2022 International Scientific and Technological Innovation Conference on Green Development was held online with the theme of “Pursuing Cooperation and Sharing in Green and Low-Carbon Development”, to allow well-known experts, scholars, environmentalists and scientific and technological workers at home and abroad to freely exchange online and jointly discuss the blueprint of building a beautiful China with green technology.

At the Conference, keynote reports titled “Strengthening the International Cooperation to Promote Green Recovery with Concerted Efforts”, “Scientific and Technological Innovation and Sustainable Development”, “Construction of a Clean, Low-carbon, Safe, and Efficient Hydrogen Energy System”, “Long-term Plan and Low-carbon Action: The Strategy and Practice of Faurecia for Carbon Neutrality” and “Green Innovation and Cooperation in the Era of Sustainable Development” was delivered by Li Bo, Vice President of the International Monetary Fund (IMF), Gong Ke, former President of World Federation of Engineering Organizations, former President of Nankai University, and Foreign Academician of the Russian Academy of Cosmonautics, Ouyang Minggao, Academician of Chinese Academy of Sciences, Professor of Tsinghua University, and Director of State Key Laboratory of Automotive Safety and Energy in Tsinghua University, Francois TARDIF, President of Faurecia China, and Alessandro Golombiewski Teixeira, former President of the World Association of Investment Promotion Agencies (WAIPA), former Minister of Tourism of Brazil, and former Special Economic Advisor to the President of Brazil, respectively. Duan Jin, Vice Chairman of Urban Planning Society of China, Academician of Chinese Academy of Sciences and Professor of Southeast University, released the world’s first “Park City Index“.

Thematic forums themed on Green Development, Green Energy Development, Green Life, Green Hydrogen Production and Green Agriculture was held to fully demonstrate China’s achievements in the development of green technology and promote the transformation of China’s plan and wisdom into a worldwide consensus.

The International Scientific and Technological Innovation Conference on Green Development is held every two years as a brand event of the China Association for Science and Technology. Since its launch in Sichuan in 2018, it has been successfully held for two consecutive sessions. This year, it was held in Yinchuan, Ningxia to facilitate the building of the “pilot area for ecological protection and high-quality development in the Yellow River Basin” and contribute scientific and technological strength to the development of a beautiful China.

SHANGHAI, July 6, 2022 /PRNewswire/ — Choicefom, China’s leading CEM management platform provider introduced a brand-new CEM concept to its Total Experience Management platform TX that helps to improve customer experience and clients’ business performance. According to forecasts from IDC, QY Research and Touch PointChina’s customer experience management (CEM) market is on track to grow to US$1.8 billion in 2022, accounting for 15 per cent of the global market. China is now stepping into a fast track of enterprise growth with the focus on enhancing the customer experience.

With the new concept, Choiceform helps to create business growth for its clients through its absolute advantages in three steps.

1.Launching its strategic concept of the Total Experience Management  

In China, many industries are about to enter the stage of slow growth and saturation. For companies, the demand for consumer insights and for experience data is growing rapidly, opening the way to significant development potential for CEM. It may soon become something no company can do without. Consequently, it becomes very important to accurately define CEM. The TX Total Experience concept proposed by Choiceform is a customer-oriented strategic management system that includes brand experience (BX), product experience (PX) and service experience (SX), supplemented by employee experience (EX). The perfect combination of the four metrics demonstrates a complete holistic consumer insights which drives enhanced experience management. Not to be overlooked is that employees will also directly affect how a customer feels about the company and the brand. CX and EX will form a positive cycle of complementary and sustainable development. Choiceform TX was born from the concept that CEM must be comprehensive.

2. Improving customer satisfaction with scalable one-to-one interactions across the customer’s whole life cycle

The customer journey is an important vehicle to creating the best customer experience. Choiceform emphasizes the use of Moment of Truth to define the experience strategies, and to merge the scattered operational data with quality experience data scientifically. Across the full life cycle, in addition to solving the problem of  data silos and achieving data convergence, it is more important to uncover the painpoints and unmet needs so as to transform and reshape the experience. When optimizing the interactions with customers, Choiceform TX will automatically initiate sustainable and scalable one-to-one interaction campaigns. The automatic advance warning + multi point trigger mechanism creates a one-stop professional and standardized closed-loop management system, to ensure a sustained interaction across the whole life cycle in real time. Based on the development plan for modular applications, Choiceform will expand from a SaaS platform provider to PaaS platform provider starting this year, making it easier for companies to connect with different SaaS applications.

3. TX is not just a tool, but the brain of enterprises developing the date-driven scientific strategic growth decision

Discovery and predictions are the core of insights, while effective decisions based on the conclusions is the ultimate goal. In the future, companies that can minimize the process from data collection to decision making will be better positioned to seize market opportunities. The Choiceform TX platform truly makes data work, discovers and identifies the most valuable information for companies, and empowers them to find the best marketing paths through intelligent and digital technological innovation, transforming every decision into one that is science-based and informed. The value of Choiceform does not only lie in helping companies collect data, but about helping them improve customer satisfaction, retention, and ROI conversion rates. This is the unmistakable difference between CEM and other big data solutions. CEM is no longer a tool to execute processes, but a key factor in driving strategic business decisions.

Data and technologies are the basic elements, but data security in its most comprehensive form is the fundamental protection.

Choiceform’s “data security control center” provides security protection for different data levels and covers the whole data life cycle from generation to deletion. Firstly, infrastructures with comprehensive defense capabilities are built to cover the security baseline in the machine room as well as across the network, system and application data, so as to improve the capacity to deal with advanced security threats. Secondly, a resource management infrastructure is built to prevent unauthorized data access and maintain data confidentiality, integrity and availability through data encryption, key management and data shielding, among other techniques. Thirdly, normalized security operation infrastructures are built for compulsory implementation of secure development lifecycles (SDLs), effectively removing security vulnerabilities, as well as for dealing with every kind of security issues in a comprehensive, networked, systematic way through continuous implementation of vulnerability scans, penetration tests, code audits, security scheme design and implementation, security training and establishment of emergency response teams. Choiceform is committed to implementing data security standards in compliance with the strictest regulatory guidance.

Integrating its advanced abilities in providing customer insights with technologies to empower industry development

Choiceform’s business has from day one been CEM, with its prowess in technology integration and in providing customer insights setting it apart from the competition. Founded in 2015, Choiceform currently has teams in Shanghai, Beijing, Guangzhou and Wuhan, serving customers in the automobile, real estate and property, finance, fast moving consumer goods (FCMG), computers, communications, consumer electronics and gaming sectors, among others. Core R&D teams account for 65% of the firm’s headcount. Choiceform has also assembled an insight team led by senior industry experts, all with more than 20 years’ experience, to drive the global data insights practice.

Choiceform Founder and Chief Executive Officer Wester Xi said, “This year is the seventh year since our inception. Choiceform has it in its roadmap to build a world-class product with Chinese characteristics and to continue driving the development and growth of the Chinese CEM market.”

About Choiceform

Choiceform is China’s leading Total Experience Management platform. It is the new growth engine for customer-centric enterprises. The company is dedicated to integrating multi-source data, discovering and predicting the real needs and preferences of every customer through cloud technologies, while delivering solutions that drive science-based decision-making across organizations.

For more information, please contact:

liz.zhao@choiceform.com 

BEIJING, July 5, 2022 /PRNewswire/ — China is ready to work with countries around the world to promote more robust, greener and healthier global development, said Chinese President Xi Jinping in a congratulatory letter to a forum on global development held in Beijing on Monday. 

The world is facing drastic changes and a pandemic both unseen in a century, and the global economic recovery is weak and sluggish, Xi said.

The development gap between the North and the South is widening, and the world has entered a new period of turbulence and changes, he said, adding that promoting global development has become a major subject faced by mankind. 

Therefore, China proposed the Global Development Initiative, Xi said. China is ready to make joint efforts with countries around the world to follow a people-centered approach, stay committed to benefits for all, and prioritize development on the international agenda, said the Chinese president. 

He stressed China’s readiness to work with other countries in promoting innovation-driven development and harmony between man and nature, accelerating the implementation of the United Nations’ 2030 Agenda for Sustainable Development, and pursuing more robust, greener and healthier global development. 

The Global Development Initiative was put forward by the Chinese president in September last year at the general debate of the 76th session of the UN General Assembly. 

The forum, named “Global Development: Common Mission and Contributions” Think Tank and Media Forum, was held by the State Council Information Office, co-hosted by the Chinese Academy of Social Sciences, Development Research Center of the State Council and the China Media Group. 

Link: https://youtu.be/wCor-gxxSn8 

Resilient Business Performance amid Macro Uncertainties

Revenue Increased by 16.4% YoY to HK$4,184.8 million

Net Profit Increased by 3.5% YoY to HK$84.2 million

Financial Highlights

HONG KONG, July 5, 2022 /PRNewswire/ — A leading technology, brand, and manufacturing company and an enabler of smart and sustainable living, Computime Group Limited (the “Company” or “Computime”, together with its subsidiaries, collectively the “Group”; stock code: 320.HK) is pleased to announce its annual results for the year ended 31 March 2022 (the “Year”).

Results Overview

The Group performed admirably despite severe supply chain disruption as well as the surge in commodities prices as a result of COVID-19 resurgence. Benefiting from the resilient business performance and sales growth across both of the Group’s operating segments, revenue for the Year increased by 16.4% year-on-year (“YoY”) to approximately HK$4,184.8 million (FY2021: HK$3,596.7 million). The Group also took active measures to manage its rising raw material price and production cost, with gross profit margin maintained at 12.8% (FY2021: 13.0%), and gross profit increased to approximately HK$537.3 million (FY2021: HK$465.8 million). Along with stringent cost control measures, profit for the year attributable to owners of the Company recorded a steady increase of approximately 3.5% YoY, from approximately HK$81.4 million last year to HK$84.2 million this year. As an appreciation for shareholders’ support, the Group also proposed a final dividend of HK4.75 cents per ordinary share (FY2021: HK$5.95 cents).

Overall, the Group responded swiftly to market changes and managed to alleviate the worst of the impacts. The satisfactory financial performance during the Year has reflected its operational resilience, increasing market share, and expanding client portfolio and order book in a highly complicated market.

Segment Review

During the Year, the Group continued its commitment to advancing smart and sustainable living through its two key operating segments, namely the Smart Solutions (“SS”) segment and Contract Manufacturing Services (“CMS”) segment, providing premium products and value-added solutions to its international customers.

Revenue for the SS segment was approximately HK$1,281.4 million (FY2021: HK$1,092.3 million), representing an increase of 17.3% YoY, mainly due to the increase of orders attributable to the growing awareness of household energy-saving among consumers. As for the CMS segment, the Group recorded a segment revenue of approximately HK$2,903.5 million (FY2021: HK$2,504.4 million), a YoY increase of 15.9%, attributable to the strong order demand from customers across the entire Year.

Its branded business, Salus Controls, also delivered a strong performance in the Year despite intensifying market competition.

Operational Highlights

FY2022 marked a landmark Year in Computime’s transformation to universalize smart and sustainable living through technologies, products, and manufacturing solutions.

In particular, the Group has taken a significant step towards sustainability by purchasing an additional 62.9998% interest in Braeburn Systems LLC (“Braeburn”), an American branded technology and product company focusing on energy-saving technologies and smart HVAC controls, at a consideration of US$10.3 million. Upon closing, the Group had an accumulated total of 90% of membership interests in Braeburn. Given its unique positioning and capability, the investment is expected to broaden the Group’s client reach and product portfolio, increase its regional market penetration, drive economies of scale, and, most importantly, strengthen its Software-as-a-service (“SaaS”) and Platform-as-a-service (“PaaS”) capability so that it can provide customers with better solutions and user experience. These, in turn, should boost margins and provide business visibility and sustainability in the long run.

To satisfy the growing order demand while supporting its servicing and geographical development, the Group has also put significant effort into diversifying and expanding its global manufacturing footprint. In addition to its China presence, the Group has steadily grown to the Asia Pacific with sites in Malaysia and Vietnam. During the Year, the Group also established its first manufacturing plant in Mexico and laid the foundation for the development of a Center of Excellence (an engineering center) in Romania.

Mr. AUYANG Pak Hong Bernard – Chairman and Chief Executive Officer of Computime Group Limited, said, “Despite market headwinds, we are delighted to see Computime moving assuredly towards a technology, brand, and manufacturing company as well as a smart and sustainable living enabler. Looking ahead, the Group will continue to invest in new technologies and platforms, including Artificial Intelligence, Machine Learning, AIoT, robotics, cloud computing, and more, in order to develop smarter, more environmental-friendly, and interconnected solutions for our branded partners and end customers. We will also maintain our sharp focus on our core, surrounding our business, people, mindset, and innovation, so that we can create greater and sustainable values for our stakeholders.”

About Computime Group Limited

Computime Group Limited is a leading smart and sustainable living enabler, offering customized, turnkey design and manufacturing solutions to its established and diversified list of clients. Through its bespoke IP, strong research and development capabilities, as well as established brands, technology, and manufacturing platforms, the Group has also launched its own line of proprietary products under the brand SALUS in the European and North American markets.

XIAMEN, China, July 5, 2022 /PRNewswire/ — Qudian Inc. (“Qudian” or the “Company”) (NYSE: QD), a consumer-oriented technology company in China, today announced that it has completed the previously disclosed optional repurchase of its 1.00% Convertible Senior Notes due 2026 (CUSIP No. 747798AB2) (the “Notes”). The repurchase right expired at 5:00 p.m., Eastern Daylight Time, on Thursday, June 30, 2022. Based on information from Deutsche Bank Trust Company Americas as the paying agent for the Notes, all of the outstanding Notes, or US$47.5 million in aggregate principal amount, were surrendered on a valid basis and not withdrawn prior to the expiration of the repurchase right. Accordingly, the aggregate cash purchase price of the Notes was US$47.5 million. The Company has accepted all the surrendered Notes for repurchase and forwarded cash in payment for the total amount to the paying agent for distribution to the applicable holders. As a result, there are no outstanding Notes as of the date hereof.

About Qudian Inc.

Qudian Inc. (“Qudian”) is a consumer-oriented technology company in China. The Company historically focused on providing credit solutions to consumers. The Company is exploring innovative consumer products and services to satisfy Chinese consumers’ fundamental and daily needs by leveraging its technology capabilities. In March 2022, it launched a ready-to-cook meal business catering to working-class consumers in China.

For more information, please visit https://ir.qudian.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States 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” and similar statements. Among other things, the expectation of its collection efficiency and delinquency contains forward-looking statements. Qudian may also make written or oral forward-looking statements in its periodic reports to the SEC, 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. Statements that are not historical facts, including statements about Qudian’s beliefs and expectations, are forward-looking statements. 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: Qudian’s goal and strategies; Qudian’s expansion plans; Qudian’s future business development, financial condition and results of operations; Qudian’s expectations regarding demand for, and market acceptance of, its products; Qudian’s expectations regarding keeping and strengthening its relationships with customers, business partners and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Qudian’s 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 Qudian does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

Qudian Inc.
IR team
Tel: +86-592-596-8208
E-mail: ir@qudian.com 

The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: qudian@tpg-ir.com

In the United States:

The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: qudian@tpg-ir.com