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Manicouagan Critical Metals Drilling Update: High-Grade Rhodium

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MONTREAL, QUEBEC, Apr 7, 2022 - (ACN Newswire) - St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to release the additional partial results of its 2021 drilling campaign on its 100% own Manicouagan Project.

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Table 1 - Assay results for a 2-meter section of 2021-Hole 18

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Table 2 - Representative samples collected from the 1,070kg bulk sample

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Map 1 - Location of hole 21-18 in relation to 2021 bulk sampling and two historical holes nearby

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Table 3 - Results for the eight samples submitted for secondary assay

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The drill cores sampled return results up to 0.84 g/t of rhodium, 1.3 g/t ruthenium, 0.16 g/t osmium and 0.3 g/t iridium over 0.5 meters.

Eight separate samples were selected for re-assay for all Platinum Group Elements (PGE) from hole 21-18. The additional average results over the 2-meter zone previously released on March 25, 2022 (from 47.5 meters to 49.5 meters) include 0.55 g/t rhodium, 1.087 g/t ruthenium, 0.214 g/t iridium and 0.11 g/t osmium. The Company believes these are significant credits to the reported 2-meter section intersected in hole 2021-18. These results coincide with the random samples collected from the bulk sampling and attests to the vertical extent of nickel-copper-cobalt and PGE's present in this system. Therefore, the Company intends to accelerate its metallurgical sampling program to determine the viability of economically separating and recovering the various suites of minerals identified in the Manicouagan massive sulfide discovery.

The samples were shipped from Val D'or ALS Laboratories to Bureau Veritas for a complete suite of assays. The eight samples were selected from the better values reported previously from ALS and reported in the Company's last press release on March 24, 2022 (Discovery of High-Grade Nickel & Palladium Corridor Confirmed). Therefore, the samples are not sequential throughout the previous reference to 6.5 meters but are sequential through the 2-meter section previously announced. The Best 2-meter results for platinum and palladium are reported in a side-by-side comparison in Table 1, along with additional results for iridium, osmium, rhodium and ruthenium.

Table 1 - Assay results for a 2-meter section of 2021-Hole 18
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-1.jpg

Comparatively, assay results for platinum and palladium were similar in nature. Several of the higher-grade samples for platinum and palladium showed decreases from the previous 2-meter results reported in the last press release. This reduced the platinum values by 8% and the palladium values by 18%, as shown in Table 1 above. These variations may be attributable to either or both of the different processes used to establish the assay values and/or the inconsistencies of mineral content in the sample. In fact, the highest iron content (massive sulfides +25% to >50%) is present within this 2-meter zone and may have contributed to any processing issues present.

Table 2 is a reminder of the representative samples collected from the 1,070 kg bulk sample. These values confirm the association and relative consistencies of PGE minerals at surface and at depth.

Table 2 - Representative samples collected from the 1,070kg bulk sample
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-2.jpg

Hole 21-18 was drilled to the southeast of the historical Bob Showing, where a 1,070 kg bulk sample was collected this year (See St-Georges Press Release from February 10, 2022: https://bit.ly/3KdbXNI

The map below (Map 1.) shows the location of the hole 21-18 in relation to the bulk sample and two historical holes, 07-17 and 08-02. Two minor faults are reported in the vicinity of these holes.

Map 1 - Location of hole 21-18 in relation to 2021 bulk sampling and two historical holes nearby.
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-3.jpg

Table 3 provides the entire results for the eight samples submitted for secondary assay of the suite of PGEs.

Table 3 - Results for the eight samples submitted for secondary assay
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-4.jpg

The Company has a large quantity of samples in the process of being assayed by its independent labs. St-Georges' contracted geologists are still hard at work processing the last batch of core that came out of the Manicouagan Project's camp earlier this month. Assays results will be disclosed as they become available.

Because of the high-grade assays returned and the identification of a mineralized trend or corridor, the Company expanded its claim position in the area to maintain its competitive advantage. This year, the Company expects to conduct a cursory exploration program on the new land acquisition with some geophysics, geologic mapping, and geochemical sampling of surface outcrops.

"We believe we are refining our knowledge of structure and mineralization at our Manicouagan project. Previously overlooked and, in some cases, unknown mineralization and trace element geochemistry provide additional targets that both extend the known areas and provide additional targets that remain untested. This particularly involves the distribution of PGEs. Hole 21-18 provided a 2-meter-thick zone that, when you add all of the metals together, gives us 7% nickel equivalent. Historic holes intersected narrow zones (0.22m) that had a combined value of over 12.5% nickel equivalent at today's quoted prices.

"Palladium, rhodium, ruthenium, and platinum are significantly enriched in areas where higher-grade nickel-cobalt-copper sulfides exist. Historically, these minerals were overlooked or, at best, cursorily sampled for all PGEs. Even so, the results from historic drilling include values to 1.73 g/t rhodium and 2.7 g/t ruthenium. More importantly, for our future exploration programs, we find that the various PGEs do not go hand-in-hand but can exist separately and more widely spread from the highest concentrations of base metals. This means higher grades of rhodium and other PGEs may exist within the 16 historic holes that encountered 0.7-to-7-meter widths of high-grade nickel-copper-cobalt within the Bob and Bob East zones. This is also true for elsewhere on this large property position.

"We hope to benefit from this knowledge, especially in the case of the platinum-palladium-rhodium (PGE) mineralization which appears to have been under-explored in this region. St-Georges hopes to take this knowledge to the next level by also utilizing the new pathfinder elements developed during the 2021 drill program," commented Herb Duerr, CEO & President of St Georges Eco-Mining.

About Rhodium Metal

Rhodium is one of the rarest and most valuable precious metals in the world, currently valued at US$19,000 per ounce or $610 per gram. It is only found in platinum or nickel ores that tend to run with the other members of the platinum group metals. Currently, South Africa produces roughly 80% of the global supply, while Russia and North America account for the bulk of the remaining 20%.

The global market for rhodium is around 1.2 million ounces and with supply running a multi-year deficit, the value of the metal has grown steadily since 2017. The reason for this being that rhodium is only produced as a co- or by-product with average grades of up to .5 g/t. In fact, many producers of rhodium today are operating at much lower grades, making St-Georges' discovery very significant in terms of grades being reported.

ON BEHALF OF THE BOARD OF DIRECTORS
"Herb Duerr"
HERB DUERR
President & CEO

About St-Georges Eco-Mining Corp.

St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on Quebec's North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.

The Canadian Securities Exchange(CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

CONTACT:
Regulatory & Medias Only
Frank Dumas, COO.
+1.514.295.9878
public@stgeorgesecomining.com

SOURCE: St-Georges Eco-Mining Corp.

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSt-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to release the additional partial results of its 2021 drilling campaign on its 100% own Manicouagan Project.

OTT Summit Ends with Much Optimism for Growth in Asia and a Strong Focus on Content and the Consumer

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Singapore, Apr 6, 2022 - (ACN Newswire) - The Asia Video Industry Association (AVIA) hosted over 850 delegates and featured over 80 industry leaders at the recent OTT Summit, with conversations revolving a lot on the subject of growth, from subscriber and revenue growth to increased local content investment and an intense focus on the customer.

In discussing the outlook for the video industry in Asia, Vivek Couto, Executive Director and Co-Founder of Media Partners Asia (MPA), indicated there remained a lot of room for growth. With most markets having an SVOD household penetration of less than 50%, there was certainly an upside for Southeast Asia and some parts of North Asia as well. However, while the region remained bullish on growth, the Average Revenue Per User remained low, particularly in the Philippines, Thailand, Indonesia, and India. As such, some tiers and price increases would be introduced along the way, especially when premium sport started to be added to the platforms.

The adage of "Content is King" was very much heard throughout the summit. In MPA's review of share of first-title consumption, premium local content was a key driver for customer acquisition, particularly in Indonesia and Thailand, with local content that showed some travelability, and as expected, with Korean content traveling very well, and some Japanese content as well.

This focus on content continued through to the fireside chat with Catherine Park, SVP, Head of Office & Streaming for Asia, Paramount Global, where she reiterated that their "mission is to unleash the power of the content with the belief that content is king." With different go-to-market strategies to unlock maximum value, Paramount Plus planned to launch first in Korea with CJ ENM, then Japan as the next market followed by Southeast Asia in 2023. Park also shared Paramount's "glocal" strategy - to have global vision but with local execution.

The importance of being local was also echoed by many panellists, as Asia could not be seen as one homogenous market. Sagar Pandit, Associate Director, Business Development, Asia Pacific, Discovery, Inc., said, "When you gun for growth, especially in Asia, it's about tailoring your approach for every region but keeping your consumer at the front and centre of whatever you are doing."

And with increasing fragmentation in Asia, customer obsession became a key part of the strategy, as more platforms leveraged technology to deliver personalised experiences. For Parminder Singh, Chief Commercial and Digital Officer, Mediacorp, the three things a customer looked for were highly personalized and relevant content, and new virtual interactive experiences, all built into one single experience, with the use of technology that would allow you to bring all of this to the customer. "If you are only delivering a straightforward service, you are going to be left behind," added Akash Saxena, Head of Technology, Disney+ Hotstar India.

However, the challenge to integrate it all into an operator's platform for a seamless experience very much remained, calling for perhaps greater aggregation and bundling for the OTT industry, as we started to see some fatigue from consumers working with multiple services to meet their content needs.

Closing off the summit with Bold Predictions for the Future of Streaming, Gourav Rakshit, COO, Viacom18 Digital Ventures, remained very optimistic, sharing that a large bet that platforms had not fully capitalised on was the area of media becoming social, with the opportunity to build communities. "We've really made rapid strides in the last five years . . . the next five will be focusing a lot more on delivering consumer delight," said Rakshit.

The OTT Summit is generously supported by Gold Sponsors Brightcove, Lumen Technologies, Synamedia, TV5MONDE, Xandr and Silver Sponsors Akamai, Amagi, Broadpeak, BytePlus, Discovery, Encoding.com, Endeavor Streaming, Irdeto, Magnite, Mediacorp, Mirada, NAGRA, Nielsen, PubMatic and Vindicia.

About the Asia Video Industry Association

The Asia Video Industry Association (AVIA) is the trade association for the video industry and ecosystem in Asia Pacific. It serves to make the video industry stronger and healthier through promoting the common interests of its members. AVIA is the interlocutor for the industry with governments across the region, leads the fight against video piracy through its Coalition Against Piracy (CAP) and provides insight into the video industry through reports and conferences aimed to support a vibrant video industry.

For media enquiries and additional background please contact:
Charmaine Kwan
Head of Marketing and Communications
Email: charmaine@avia.org
Website: www.avia.org
LinkedIn: www.linkedin.com/company/asiavideoia
Twitter: @AsiaVideoIA

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe Asia Video Industry Association (AVIA) hosted over 850 delegates and featured over 80 industry leaders at the recent OTT Summit, with conversations revolving a lot on the subject of growth, from subscriber and revenue growth to increased local content investment and an intense focus on the customer.

Why Bitcoin Miners Keep HODLing Amid Massive Growth

As the bitcoin mining industry has grown by leaps and bounds in 2022, mining operations continue to hold onto their bitcoin for dear life.

Cylum Launches Highest APY Staking Reward in the Crypto Space

London, UK, Apr 1, 2022 - (ACN Newswire) - Cylum Finance, a DeFi 3.0 platform, has launched the highest APY staking reward in the crypto industry. Over the years, crypto investors and traders have staked their assets for relatively average returns. Although these investors earned interest on their staked crypto assets, there is huge room for improvement. Offering an increase in APY for staked assets will undoubtedly incentive more investors to enter the market.

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The mission of the Cylum project is to give crypto investors a more profitable reason to stake their assets on its platform.

Cylum Highest APY Reward

Cylum offers up to 395,677% APY within the first year for investors who hold the $CYM token. Since the history of crypto staking, no project has offered investors such high returns on their investment. The unique smart contract that powers Cylum's APY leverages compound interest in its reward system. As a result, all investors earn rewards every minute of the day with Cylum. The team plans to increase the earnings of investors with the launch of the mainnet offering. The mainnet also has a multi-chain decentralized application (Dapp) developed to offer users more utility within the ecosystem.

Cylum Unique Features & Uses

  • Auto-Staking & Compounding

In most existing DeFi projects, token holders have to stake their crypto assets manually. With Cylum's auto-staking and compounding, it is entirely different. Every process is automated and designed to favor investors. By purchasing and holding these tokens, investors earn active rewards directly to their respective wallets.

After the annual compound interest of 395,677% within the first year, the APY will begin to decrease.

  • Automatic-Burn

To reduce the number of $CYM in total supply and drive up the value of each token, the team is looking to make $CYM a deflationary token. With auto-burn, the team will make the token more valuable as a result of the decrease in supply and increased demand. The auto-burn feature is an algorithm created to automatically eliminate 2% of the $CYM token total supply once it is launched.

About Cylum Finance

Cylum is a DeFi 3.0 project launched to revolutionize crypto staking and reward system. Skilled developers created it with unique code. The project operates an amazing set of mechanics that ensures the protocol remains sustainable. The team also incorporated additional unique features that confer a competitive advantage on the project. Crypto staking has become one of the top ways investors make money from the market. A great platform like Cylum is essential to attracting more players to this sector of the crypto market.

The Cylum protocol serves as a launchpad for metaverse projects deployed on the Binance Smart Chain (BSC). In addition, its cylinder insurance fund ensures it is low risk with high rewards for investors.

Social Media
GitHub: https://github.com/cylumfinance
Telegram: https://t.me/cylumfinance
Twitter: https://twitter.com/cylumfinance
YouTube: https://www.youtube.com/channel/UC5h7sQkZiqMLBTA0JIFx5wQ

Media contacts
Brand: Cylum Finance
Contact Person: Jennifer Rodgers, Marketing Manager
E-mail: support@cylum.io
Website: https://cylum.io
LinkedIn: https://www.linkedin.com/in/jenifer-rodgers-51a3383a/

SOURCE: Cylum Finance



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com

Data Shows Bitcoin Investors Afraid To Take Risk As Leverage Remains Low

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On-chain data shows Bitcoin investors have been afraid to take risk recently as the leverage ratio has remained low in the last few days. Bitcoin Leverage Ratio Remains Low In Past Few Days As pointed out by an analyst in a CryptoQuant post, investors haven’t taken much risk since the surge in the crypto’s price…

The post Data Shows Bitcoin Investors Afraid To Take Risk As Leverage Remains Low appeared first on Bitcoin News Miner.

Redsun Properties 2021 Annual Revenue Increases 32.3% to RMB26.67 Billion, Gross Profit Ups 12.7% to RMB5.08 Billion

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HONG KONG, Mar 31, 2022 - (ACN Newswire) - Redsun Properties Group Limited ("Redsun Properties", or the "Group", stock code: 1996), a leading comprehensive property developer in Mainland China, announced today its annual results for the year ended 31 December 2021. The Group achieved stable growth in revenue and profits remained sustainable. It continues to achieve the green tier in the "Three Red Lines" assessment.

2021 Annual Results Highlights:

-- Contracted sales reached RMB87.22 billion. Contracted average selling price increased from RMB14,622 per sq.m. in 2020 to RMB16,887 per sq.m. in 2021, representing a year-on-year increase of 15.5%
-- Revenue amounted to RMB26.67 billion, representing an increase of 32.3% as compared with 2020. Revenue from commercial operations and hotel operations increased by 15.3% to RMB625.7 million
-- Gross profit and gross profit margin were RMB5.08 billion and 19.1% respectively
-- Net profit amounted to RMB1.87 billion, representing an increase of 0.6% as compared with 2020
-- As at 31 December 2021, the "Three Red Lines" indications of the Group were in green lights, with gearing ratio (excluding contract liabilities) of 68.1%, net gearing ratio of 57.0%, cash to short-term debt ratio of 1.41 times. The Group had cash and bank balances on hand of approximately RMB16.04 billion

Steady Sales with optimized structure
Contracted sales maintained steady growth and the sales structure continued to be optimized. During the year, the Group achieved contracted sales of RMB87.22 billion, representing a slight increase over that of the previous year. The average contracted sales unit price was approximately RMB16,887 per sq.m, representing a year-on-year increase of 15.5%. The sales of the first-tier and new first-tier cities accounted for more than 40% of the overall sales. The Yangtze River Delta and Jiangsu maintained a leading position. The average price in the Great Bay Area and Chengdu Chongqing metropolitan area increased significantly, and the efficiency and quality of its return on investment emerged from the industry.

During the year, sales revenue recognized by the Group was RMB26.67 billion, representing a year-on-year increase of 32.3% compared with that of 2020, which realized a steady growth. The gross profit was RMB5.08 billion, with a year-on-year increase of 12.7%, where the gross profit margin amounted to 19.1%. The net profit was RMB1.87 billion, and the core net profit was up 3.5% to RMB1.47 billion; the net profit margin was 7.0%, which remained at the industry average level.

Proven efficacy in commercial/residential linkage, steadily consolidating nationwide layout
With the dual-driven synergic development in property management and commercial real estate in 2021, the Group continued to enhance its commercial and industrial competitiveness. Property sales increased by 32.8% to approximately RMB26.04 billion as compared to the same period last year, accounting for 97.6% of the total recognized revenue. Commercial operations increased by 15.5% to approximately RMB583.5 million as compared to the same period last year. Hotel operations increased by 12.0% to approximately RMB42.1 million as compared to the same period last year.

During the year, the commercial benchmark position of Nanjing Hong Yang Plaza has been continuously consolidated, and the diversified land acquisition mode of commercial and residential linkage has been further consolidated. Some new high-quality commercial and residential plots in the center of Weifang, Shandong Province have been obtained, and the Weifang Project has already been launched. In terms of expansion, light and heavy assets have advanced in line in a stable fashion. At the same time, the Group fully exploited advantages of resources from other excellent commercial projects to create Redsun's representative and benchmark properties.

The Group will continue to implement the investment strategy of "penetrating the Greater Jiangsu Region, strengthening foothold in major metropolitan areas and expanding into core cities". Through the synergic development in property development and commercial real estate, the Group realized quality layout and diversified its land reserves. In respect of regional layout, the Group strengthened its foothold in the leading cities within developed metropolitan areas in China. In respect of investment structure, the layout focus was located in first-tier and premium second-tier cities. As of the end of 2021, the Group had a total land reserve of 18.78 million sq.m.. The core is to penetrate the Greater Jiangsu Region. For three consecutive years, its land reserve in Jiangsu has been maintained at more than 50% of the overall land reserve, and its land reserve in the Yangtze River Delta has been maintained at more than 67% of the overall land reserve. With extensive and diversified channels, sufficient and reasonable land banks, premium and healthy structure, and active and effective strategies, a solid foundation was laid for the Group to sustain steady and quality development in the future.

Integrated operation with upgraded products
Creating a cross cycle resource and capital operation and scheduling ability, the Group strengthened its foothold in the cities to achieve a leading initial sell-through rate of projects, thereby facilitating the formation of advantage in sales scale in regional sectors; improved its service quality by creating the competitive "six-integration" system. The New Hongqiao Purchase Alliance led by the Group constantly realized cost optimization through scale effect; the level of delivery was improved through strict product control, and thus its customer satisfaction and industry ranking reached a record high, and the total annual delivery and delivery rate maintained a high-level of steady growth. The Group upgraded the product system of Redsun Community 2.0, created the "Redsun System" IP and built green and healthy houses.

Maintain sound financial position
The Group continued to achieve the green tier in the "Three Red Lines" assessment, which consistently met the regulatory requirements. With steady increase in the scale of assets, its debt structure was continuously optimized. As at 31 December 2021, gearing ratio (excluding contract liabilities) was 68.1%, net gearing ratio was 57.0%, cash to short-term debt ratio was 1.41 times. Total assets were RMB132.7 billion, up 11.5% as compared to the figure of last year. The Group had cash and bank balances on hand of approximately RMB16.04 billion.

Future strategy: Be customer-oriented, Strengthen foothold in premium core cities
Going forward, the industry will return to the essence of residence, the market will return to the essence of supply and demand, and the property enterprises will return to the essence of operation. In terms of operation strategies, the Group will be operation- and customer-oriented, continue to strengthen its brand influence and provide products and services of premium quality. In terms of investment strategies, the Group will adhere to expanding its investment channels in a diversified manner. It will invest in the new first- and second-tier cities with strong foothold and deepening its intensive and meticulous development in premium core cities, aiming to achieve a high realization rate for project investments. The Group will also expand its accessibility to capital markets with an aim to constantly reduce its finance costs and support healthy and sustainable growth.

About Redsun Properties Group Limited ("Redsun Properties") (stock code: 1996)
Redsun Properties Group Limited ("Redsun Properties" or "The Group") is a leading comprehensive developer in China, focusing on the development of residential properties and the development, operation and management of commercial and comprehensive properties. The Group has established a steady regional leading position in Jiangsu Province by taking root in Nanjing, Jiangsu and Yangtze River Delta. Since the incorporation of Nanjing Redsun in 1999, Redsun Properties has worked in the sector of property development and sales for 20 years, established the Hong Yang brand and received widespread recognition for the development capacity and industry position.

While developing residential properties, Redsun Properties also operates commercial complexes covering shopping malls, amusement parks and community centers, hotels and office buildings. Most of the commercial property buildings are adjacent to the Group's residential property projects, providing ancillary services for the residents and also increasing the value of the Group's residential property projects.

Redsun Properties is a constituent of the MSCI China Small Cap Index, Hang Seng Composite Index and Hang Seng Stock Connect Hong Kong Index.



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comRedsun Properties Group Limited ("Redsun Properties", or the "Group", stock code: 1996), a leading comprehensive property developer in Mainland China, announced today its annual results for the year ended 31 December 2021. The Group achieved stable growth in revenue and profits remained sustainable. It continues to achieve the green tier in the "Three Red Lines" assessment.
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Weimob (2013.HK) Smart Retail sends SaaS revenues soaring 90.9%

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SHANGHAI, Mar 31, 2022 - (ACN Newswire) - Weimob Inc (2013.HK) released its 2021 financial report earlier this week (3-28), showing that its adjusted total revenue in 2021 reached 2.686 billion yuan, a record high, and its performance increased by 36.4% against the background of overcoming unfavorable factors such as downward pressure on the macro economy. After adjustment, the gross profit of RMB 1.517 billion increased by 51.3% year on year. Among them, the digital business sector achieved revenue of 1.967 billion yuan, an increase of 70.9% compared with 2020. Subscription solutions and merchant solutions in this sector achieved high growth of 90.9% and 47.5% respectively. The "WOS" new business operating system developed by Weimob Inc has been officially put into beta this month, and it may become a powerful engine to drive the future growth of Weimob Inc.

High-speed growth of business; SaaS revenue grows against the trend

In 2021, the persistence of the epidemic brought many challenges to consumers and To B enterprises. Weimob Inc focuses on the digital transformation and upgrading of enterprises, continuously strengthens the development of multi-product lines, further promotes the three strategies of "customization, ecology and internationalization", overcomes the adverse effects of external environment, and achieves the contrarian growth of performance. The financial report shows that the digital business income of Weimob Inc in 2021 was 1.967 billion yuan, an increase of 70.9% compared with 1.246 billion yuan in 2020. Among them, the revenue of Weimob Inc subscription solution (SaaS sector) reached 1.188 billion yuan, a substantial increase of 90.9% year-on-year. The number of paying merchants was 102,813, a year-on-year increase of 5.0%. The average income per user increased by 57.7% to 11,553 yuan.

At the same time, with the continuous promotion of TSO's full-chain marketing solution, the business solutions in the digital business sector of Weimob Inc have achieved good results. The financial report shows that in 2021, the business solution revenue was 779 million yuan, a year-on-year increase of 47.5%; The gross income of accurate delivery was 10.95 billion yuan, a year-on-year increase of 12.1%. The number of paying merchants increased by 26.7% to 57,909, and the average income per user was 13,454 yuan.

The financial report shows that the R&D expenditure of Weimob Inc in 2021 was 775 million yuan. Among them, the total investment of strategic projects such as the new business operating system WOS and the construction and operation of the middle platform reached 682 million yuan. Due to the increased investment in R&D and the merger and acquisition of Xiangxinyun and Haiding in 2021 and previous years, Weimob Inc lost 566 million yuan in adjusted net profit in 2021. However, these investments promote the cost reduction and efficiency increase of Weimob Inc. The financial report shows that the company has abundant cash flow, with cash and cash equivalents of 3.809 billion yuan, and its financial structure is healthy and sustainable.

The strategy of customization has achieved fruitful results, and internationalization has steadily advanced
The financial report shows that the reason why Weimob Inc achieved high revenue growth in 2021, benefiting from the core strategy of "customization, ecology and internationalization" of the group. With the support of TSO's full-chain marketing solution and smart retail and other key businesses, Weimob Inc's customization strategy achieved fruitful results. In the smart retail sector, in 2021, Weimob Inc's smart retail revenue was 426 million yuan, 193.6% year-on-year, and its share in subscription solution revenue further increased from 20.2% in 2020 to 36%. At present, the number of smart retailers in Weimob was 6,126, the number of brand merchants was 1,003, and the average order income of brand merchants per user was 234,000 yuan.

The Weimob smart catering business also achieved a breakthrough. In 2021, Weimob Smart Catering completed the technical and operation system layout of "three stores integrated and global operation". During the reporting period, Weimob's smart catering revenue was 53.616 million yuan, up 19.6% year-on-year, accounting for 4.5% of subscription solution revenue. There were 8,406 smart catering merchants, and the average order revenue per user of catering merchants was 17,000 yuan. By the end of 2021, Weimob smart catering customers accounted for 41% of China's top 100 restaurants; The revenue from catering orders accounted for 51%.

Promoting ecology, WOS New Business Operating System as a new growth engine

As one of its three core strategies, Weimob Inc's ecological strategy has also made remarkable achievements. In terms of developer ecology, in 2021, Weimob Cloud PaaS platform will continue to empower ecological partners, with over 50 new high-quality ecological partners and over 400 new cloud market applications.

In order to create a good foundation for smart business, the WOS New Business Operating System was officially put into public beta in March 2022. WOS new commercial operating system integrates SaaS business integration, ecological partnership and PaaS platform infrastructure, and realizes the comprehensive upgrade of product strength, technical strength and ecological strength, demonstrating the technical strength of Weimob Inc.

In 2022, Weimob will continue to improve WOS product strength, better serve customers through Weimob cloud empowering eco-partners, and drive the growth of product strength and commercial strength by technology, so as to realize faster product development, better product experience and service, and more ecological applications and services, so as to promote customers' purchase, increase customer renewal fees and increase ecological income. CITIC Securities holds that "WOS" is expected to become the new growth driver of SaaS with the improvement of merchant coverage and the acceleration of commercialization.

In terms of investment layout, in 2021, Weimob Inc and Yicun Capital jointly established "Weizhi Digital Industry Fund" and invested in outstanding projects such as Shuyun, Haizhi and Meichuang. In November, 2021, Weimob Inc announced the acquisition of 51.89% equity of Shanghai Xiangxinyun Network Technology Co., Ltd., and incorporated Xiangxinyun into the listed company system, thus deepening the digitalization capability of smart retail shopping guide.

Weimob Inc said that in 2022, the company will focus on seven directions: focusing on key customers and continuing to lead; Open and win-win, create ecological barriers; TOS full-link operation, helping customers smart grow; Continue to increase investment in private track and consolidate the leading position in the industry; Cloudy layout drives new growth; "7+X" to create a new growth flywheel; Cross-border development and layout of the global market. Under the background of accelerating the digitalization process of Chinese enterprises, Weimob Inc has made sufficient product reserves, technical reserves, talent reserves and capital reserves, laying a solid foundation for the development in the next five years.

Media contact:
Micky Sun, Weimob Inc
Email: jingyi.sun@weimob.com
Website: http://www.weimob.com

Weimob Inc (2013.HK) is the leading cloud-based commerce and marketing solutions provider for SMBs. For information, visit www.weimob.com.

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comWeimob Inc (2013.HK) released its 2021 financial report this week (3/28), showing that its adjusted total revenue in 2021 reached 2.686 billion yuan, a record high, and its performance increased by 36.4% against the background of overcoming unfavorable factors such as downward pressure on the macro economy.

Solargiga Turns Around to Profit in FY2021 With Net Profit at RMB$193.2 Million

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HONG KONG, Mar 30, 2022 - (ACN Newswire) - Solargiga Energy Holdings Limited ("Solargiga" or the "Group"; HKEX: 757), a leading vertically integrated enterprise that manufactures monocrystalline photovoltaic products for generating solar energy in the PRC, announced today its annual results and that it turned around to profit for the year ended 31 December 2021.

Driven by increase in sales of its major products, photovoltaic modules and monocrystalline silicon wafers, plus the climb in average selling price of silicon wafers, the Group's revenue increased by 17.4% to RMB7,105.0 million, with total external shipment volume up 7.8% year-on-year. It achieved a significant turnaround with profit attributable to owners of the parent at approximately RMB193.2 million when compared with a loss recorded last year, mainly due to substantial increase in its high-efficiency production capacity and economies of scale, which helped widen its overall gross profit margin.

During the year under review, as a result of the increase in sales of monocrystalline solar wafers which boast a higher profit margin, the Group's gross profit rose by 50.1% to RMB879.1 million, with gross profit margin improved to 12.4%. As such, earnings before interest, taxes, depreciation and amortisation ("EBITDA") of the Group surged by 189.7% to RMB799.7 million

In 2021, the Group continued to invest in and upgrade existing production capacity which, together with the economies of scale reaped, saw its operating profit increase significantly, with net cash flows from operating activities up by a substantial 82.8% to RMB1,030.4 million in 2021 (2020: RMB563.5 million).

Business Review

Silicon ingots and wafers business

During the year under review, since monocrystalline products have advantages over multicrystalline products in photovoltaic power generation, the market share of monocrystalline products continued to increase rapidly. With most of the Group's monocrystalline silicon ingot products reserved for internal use, the external shipment volume of them was 414.4 MW (2020: 710.8 MW), whereas that of monocrystalline silicon wafers increased significantly to 4,087.0 MW (2020: 3,145.8MW), an over 30% climb against the previous year.

Apart from traditional monocrystalline P-type products, the Group also manufactures monocrystalline N-type products with higher conversion efficiencies. As TOPCON cells and heterojunction HJT cells with monocrystalline N-type silicon wafer base are expected to become the mainstream next-generation photovoltaic cells, to capture that trend, the Group managed to accomplish technical breakthrough and product marketisation of monocrystalline N-type silicon ingot and has started supplying N-type silicon ingots and wafers to domestic and foreign customers.

The Group's production base for monocrystalline silicon ingot and monocrystalline silicon wafer in Qujing, Yunnan, the PRC, started mass production during the year. As the facility enjoys various local government preferential investment policies, and more importantly, the decrease in local electricity cost, being the major manufacturing cost of ingot-pulling, of more than 50% compared to the major production base in Jinzhou, Liaoning. That can help improve the Group's overall gross profit margin. Therefore, the Group has continued to expand the production capacity there to meet the rapid growth of customer demand. As at year end, the annual production capacity of monocrystalline silicon ingots and monocrystalline silicon wafers of the facility were 4.3 GW and 2.5 GW respectively.

Module business

To concentrate resources on developing more niche products, the Group adjusted its operating strategy, ceasing manufacturing solar cells last year and moved its focus onto upstream monocrystalline silicon wafers (ingot) and downstream modules as its two major products.

During the year, the Group continued to expand module production capacity in Yancheng, Jiangsu, to meet the needs of module customers and further strengthen economies of scale. As at year end, the module production capacity of Yancheng, Jiangsu reached 5.4 GW, out of the 7.2 GW total of the Group. The production base also enjoys various local government preferential investment policies, plus the Group can take advantage of significantly lowering the investment in capital expenditure by renting plant buildings. Moreover, the area around the Yangtze River Delta is where raw and auxiliary materials that the Group needs agglomerate, meaning the Group has advantage in procurement.

Excellent product quality and price competitiveness allow the Group to secure stable and sizeable customers. Modules were mainly sold externally to large state-owned enterprises and international multinational enterprises, such as State Power Investment Corporation ("SPIC"), SHARP Corporation ("SHARP"), Xinyi Glass Holdings Limited and Xinyi Solar Group and CGN New Energy Holdings Co., Ltd., etc. The Group has been SHARP's largest processing service partner for photovoltaic module for nine consecutive years and has been cooperating in continually expanding module sales to foreign customers.

Prospects

The Group embraces the "one base, two wings" strategic layout, with its base in Jinzhou, Liaoning, and Qujing in Yunnan and Yancheng in Jiangsu as its two wings. The layout has given it low-cost and high-efficiency productivity advantages and become one of the driving forces for the gross profit margins growth of its monocrystalline silicon ingots and silicon wafers. It expects that, by the end of 2022, the annual production capacity of monocrystalline silicon ingot and silicon wafers in Qujing, Yunnan will be increased to 6.0 GW and 3.6 GW, representing 81% and 49% of the Group's total annual production capacity of the products, respectively. On top of boosting the Group's gross profit margin, the layout will also enable the Group to fully unleash its technological advantages and achieve progress.

Regarding module production capacity, by the end of 2022, the annual production capacity of the plant in Yancheng, Jiangsu will increase to 6.4 GW, taking the Group's overall annual module production capacity to 8.2 GW.

In addition, the Group has been actively expanding the end-user power plants construction and application business, which has not only driven sales of module products from bottom-up, but also it will spread the profit of construction and operation of photovoltaic system businesses, helping improve the Group's overall profitability. Apart from having internal photovoltaic power plant system established and run by its wholly owned subsidiaries, the Group also plans to form joint ventures with companies from other industries to develop BAPV and BIPV business.

Mr Tan Wenhua, Chairman of Solargiga, said, "In 2022, newly installed photovoltaic power generation capacity is expected to continue to grow rapidly worldwide. That plus supportive government policies will see medium- and long-term demand for photovoltaic products climb robustly in the PRC and the global market. Marketisation will continue for photovoltaic products and the industry will move away from policy subsidies towards self-sustainable development. Technological progress will help reduce power generation cost conducive to achieving grid parity, and in turn will draw explosive demand growth.

"With proven business strategy in place, we are well prepared to apply our existing advantages to capture the tremendous opportunities in the photovoltaic industry in the good times ahead, and also help China achieve her 'carbon neutrality' goal by 2060 and contribute to sustainable development of the world."

About Solargiga Energy Holdings Limited (HKEX: 757)
Solargiga Energy Holdings Limited is one of the leading manufacturers of solar energy monocrystalline photovoltaic products in the PRC. Through advantages in vertical integration, the Group focuses on manufacturing monocrystalline silicon wafers and photovoltaic modules, and designing and installing photovoltaic systems. The majority of the Group's products are currently sold to domestic state-owned enterprises and large multinational corporations with stringent quality requirements.



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSolargiga Energy Holdings Limited ("Solargiga" or the "Group"; HKEX: 757), a leading vertically integrated enterprise that manufactures monocrystalline photovoltaic products for generating solar energy in the PRC, announced today its annual results and that it turned around to profit for the year ended 31 December 2021.

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