Bitcoin price started a fresh decline from the $42,600 zone against the US Dollar. The price is now trading below $40,000 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $40,100 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair must...

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Ethereum rallied above $2,650 against the US Dollar. ETH price failed to settle above $2,700, trimmed gains, and now consolidating near $2,620. Ethereum started a fresh increase above $2,600, but it faced sellers above $2,700. The price is now trading above $2,600 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $2,580 on the hourly chart of ETH/USD (data feed via Kraken). The pair is consolidating above $2,600 and might start another increase in the near term. Ethereum Price Consolidates Ethereum was able to form a base above the $2,520 level. ETH started a fresh increase above the key $2,600 and $2,620 resistance levels. There was also a move above the $2,700 level. There was also a break above a key bearish trend line with resistance near $2,580 on the hourly chart of ETH/USD. However, the bulls failed to remain in action above $2,720. The price formed a high near $2,733 and started a sharp decline. There was a move below the $2,700 and $2,650 support levels. The price even dipped a few points below the 50% Fib retracement level of the recent rally from the $2,506 swing low to $2,733 high. The price is now consolidating above $2,600 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $2,650 level. The first major resistance is near the $2,685 level. The main resistance seems to be forming near the $2,700 zone. Source: ETHUSD on TradingView.com Ether price must clear the $2,685 and $2,700 resistance levels to start a steady increase. In the stated case, the price may perhaps rise towards the $2,800 level. Fresh Decline in ETH? If ethereum fails to start a fresh increase above the $2,650 level, it could start another decline. An initial support on the downside is near the $2,610 level. The next major support is near the $2,600 level. It is near the 61.8% Fib retracement level of the recent rally from the $2,506 swing low to $2,733 high. A close below the $2,600 support zone could start a drop towards the $2,500 support zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is still above the 50 level. Major Support Level – $2,600 Major Resistance Level – $2,700

Canadian Esports betting provider Luckbox has made it crystal clear what its main focus is for the remainder of 2022. And that is expansion into its home market of Canada, as well as the rapidly developing esports betting scene that is now starting to expand across its neighbour to the south, the United States. Just […]

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HONG KONG, Mar 16, 2022 - (ACN Newswire) - Far East Horizon Limited ("Far East Horizon" or the "Group"; stock code: 03360.HK), one of China's leading innovative financial companies focusing on the Chinese fundamental industries and leveraging the business model of integrating finance and industry to serve enterprises of greatest vitality with the support of the fast-growing and enormous economy in China, today announced its Results for the year ended 31 December, 2021 (the "Period under Review").
Financial Review
Looking back on 2021, amid complex domestic and international situations and various risks and challenges, China has consistently executed deep-rooted macro policies with a high level of openness, a flexible monetary policy and moderate liquidity. The stable macro environment in China provided favorable external conditions for the Group's sustainable and steady development during the period. In 2021, the Group recorded a total revenue of approximately RMB33.64 billion, achieving a rapid year-on-year growth of 15.85%. The financial and advisory segment maintained steady growth. Structurally, financial services continued to grow but the advisory services slightly declined. The industrial operation segment grew exponentially by 29.78%. Profit for the period attributable to the holders of ordinary shareholders of the Group during the period under review was approximately RMB5.51 billion, representing a year-on-year increase of 20.47%. The basic earnings per share was 1.36 RMB per share, and the average return on equity (ROE) was 14.57%. Overall, the Group has achieved a rapid growth. The board of directors of the Group passed the proposal of recommending a final dividend for year 2021 of HKD $0.42 per share.

During the period under review, the Group's financial structure continued to be optimized, and the non-leasing business accounted for 48.75% of total revenue (before taxes and surcharges), which continued to increase from 46.90% in 2020. Interest income contributed by new businesses such as inclusive finance, commercial factoring, PPP investment, overseas financing, and asset business accounted for 5.49% (2020: 3.54%); revenue from advisory services accounted for 9.41% (2020: 13.15%); the industrial operation segment accounted for 33.85% (2020: 30.21%).

Deep Rooted Growth in Financial Leasing Is Realized alongside Rapid Expansion in Other Financial Services

In terms of financial and advisory segment, the Group continued to penetrate in nine key industries, continued to enhance the service value, and accurately controlled the pace of business development, achieving growth in annual operating performance and customer base. For business operation, the iterative service model has been continuously upgraded, and more than 100 regional business units have been fully mobilized to track and tap over 100,000 target customers. Operationally, it will enhance service coverage and response time. Also, it will improve the efficiency of the entire project process through technological empowerment and project management. Based on the Group's resource endowment and system advantages, the product enhances the flexibility of multiple products and serves the diversified financing needs of different scenarios, different stages, and different customers. At the same time, services such as inclusive finance, PPP investment, asset management, overseas financing, and PE investment continued to amplify the growth. The boundaries of business formats continued to expand, and incremental value is shown.

In 2021, revenue (before taxes and surcharges) of the financial and advisory segment revenue was RMB 22.35 billion, representing a year-on-year increase of 9.77%, accounting for 66.15% of the total revenue (before taxes and surcharges). Among them, new businesses such as inclusive finance, factoring, PPP investment, overseas financing, and asset management contributed RMB 1.86 billion in interest income, a year-on-year increase of 79.78%.

In 2021, the Group's net interest spread was 3.21%, an increase of 36 basis points from 2.85% in the previous year. The increase in net interest spread was mainly due to a decrease of 22 basis point in the average cost of the Group's interest-bearing liabilities, while the average yield on interest-earning assets increased by 14 basis points.

The Group has consistently implemented a stable asset management policy and adopt a strict and conservative asset classification policy. At the end of 2021, the Group's assets under special mention accounted for 8.09%, a decrease of 1.47% from 9.56% in the same period last year. During the reporting period, asset quality has been improved. The non-performing asset ratio of the Group decreased slightly, and the overall asset quality was stable and controllable. The non-performing asset ratio in 2021 was 1.06%, a decrease of 4 basis points from 1.10% in 2020.

Rapidly Growing Industrial Operations Segment Enables New Pathways for Future Development

For industrial operation segment, in line with the national and regional coordinated development and the long-term goal of building a healthy China, Horizon Construction Development and Horizon Health have developed steadily. The revenue contribution of both business continues to rise. Both have become national leaders and achieved better social influence in terms of their scales. With the successful implantation of the Group's industrial operation strategy, revenues from the industrial operation segment maintained to grow exponentially. The industrial operation segment including Horizon Construction Development and Horizon Health achieved a total revenue (before taxes and surcharges) of RMB 11.43 billion, a year-on-year increase of 29.78% from the same period last year.

Equipment Operation:

Horizon Construction and Development is one of the largest equipment operation service providers in China, with diversified equipment and strong service capabilities. As a comprehensive equipment operation service provider in China, Horizon Construction Development was awarded the fourth place in the Top 50 Global Aerial Work Platform Leasing Companies in 2021 and the 24th in IRN World's Top 100 Rental Companies in 2021. In 2021, Horizon Construction Development have participated in on-site support projects such as the Beijing Winter Olympics venues, Hangzhou Xiaoshan International Airport, Beijing Daxing International Airport, China-Laos Railway, Beijing-Zhangjiakou High-speed Railway, Jingli Expressway and other projects, the centennial celebration of the founding of the Communist Party, the West Safety Games, the Shanghai International Import Expo.

At the same time, Horizon Construction and Development also actively participating in flood control and emergency rescue and epidemic prevention and control in many places. The efficient and professional service ability has been fully recognized by the market, and the brand awareness has been widely improved.

Horizon Construction and Development has scaled up its operations and strengthened its competitive advantages. As of the end of 2021, the number of service outlets reached 299, covering 182 cities. Its three major businesses of aerial work platform, new support system and new formwork system have all been leading in the market.

As of December 31, 2021, the total revenue of Horizon Construction and Development was RMB6.14 billion, representing a year-on-year increase of 67.63%. Net profit was RMB 709.62 million, a year-on-year increase of 43.83%.

Hospital Operation:

Horizon Healthcare is a large-scale social capital-run hospital group in China, dedicated to providing high-quality medical care accessible to everyone and building a century-old health brand. It consistently implements the management and operation model of "one system, one network, one hospital", fully takes advantages of the scale effects, builds a standardized operational network, and delivers a high-level medical rehabilitation and elder care resources to the vast number of people across the country.

As of the end of 2021, the number of controlled hospitals was 29 hospitals and the number of beds available was about 11,000. Horizon Healthcare forms a nationwide hospital operation network covering East China, South China, North China, Southwest China, Northeast China, and other regions. In the second half of 2021, new hospitals have been opened such as Siping Cancer Hospital, Nayong Xinli Hospital and Deyang No. 5 Hospital Zhongjiang Branch.

In line with the expansion of the hospital scale and the opening of new hospitals, the Group has also actively been hiring and retaining the talents of medical scientists. With the full operation of the new hospitals, the Group expects the gross profit will further improve in the future. During the period under review, the hospital operation business achieved revenue of approximately RMB4.00 billion, representing an increase of 16.13% over the same period of the previous year. Net profit reached 143.47 million yuan, a year-on-year increase of 24.22%.

Diversified Financial Channels and Cost of Capital Show Competitive Advantage

As of December, 2021, the total sum of the Group's interest-bearing bank and other borrowings amounted to RMB 230.20 billion, representing an increase of 12.17%, which was mainly due to the increase in interest income caused by supporting the Group's business expansion.

During the period, in the face of the complicated financial environment at home and overseas, the Group adhered to the established strategy of "finance + industry" and made good progress in both indirect financing and direct financing. With an improved liability structure, the Group's financing costs have been maintained a clear advantage as compared to the peers.

In the direct financing market, the Group further enriched the bond portfolios, optimized product structure, introduced new innovative products such as renewable corporate bonds, short-term corporate bonds, asset-backed commercial papers, and reduced overall costs. The Group issued 3.09 billion green asset backed securities (ABS) in April 2021. The basic assets include 42 green projects such as photovoltaic power generation, solar power generation, urban landscaping, sewage treatment, etc. The Group consistently has practiced the concept of green development and motivated the sustainable development of the real economy. In November 2021, it successfully issued the first 150 million renewable development bond in the domestic market.

In the indirect financing market, the Group has strengthened the cooperation partnership with key banks based on existing financing channels in accordance with the company's strategic development needs. In June 2021, the Group successfully signed a USD 450 million overseas green club loan agreement with eight banks including Sumitomo Mitsui, Standard Chartered Bank and OCBC Bank, etc. for the field of renewable energy, pollution treatment, high-efficiency energy, etc.

In addition, the Group also maintained its advantages in cost control. In 2021, the Group's average cost ratio was 4.41%, a decrease of 22 basis points compared with the cost in 2020.

Mr. KONG Fanxing, Vice Chairman of the Board and CEO said: "Looking back on 2021, under the guidance of the "Finance + Industry" strategic framework, the Group successfully completed various business objectives. As China's internal and external environments have undergone profound changes, China's economy will enter a new stage of development in the future. The Group will continue to adhere to the established strategy, closely leverage the Chinese economy, consistently serve the real economy, continuously innovate service methods, enrich service methods, and improve service capabilities. For financial and advisory segment, we will continue to upgrade the traditional financial services business based on deep analysis of the various industries and customers. By taking advantage of the company's existing resource, we will expand new service methods and improve the overall comprehensive service capabilities in respect of the new businesses. In terms of industrial operations, Horizon Construction and Development will reinforce its leading position in the market and enhance management capabilities and operational efficiency. Under the operational model of "One System, One Network and One Hospital", Horizon Healthcare will strengthen its management, improve operational efficiency, and achieve long-term sustainable development. We believe the Group will create greater value for its shareholders, customers, partners, employees, government and other social parties."


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comFar East Horizon Limited ("Far East Horizon" or the "Group"; stock code: 03360.HK), one of China's leading innovative financial companies focusing on the Chinese fundamental industries and leveraging the business model of integrating finance and industry to serve enterprises of greatest vitality with the support of the fast-growing and enormous economy in China

Bullish KSM price prediction is $144.1 to $520.5. KSM price will also reach $550 soon. KSM bearish market price prediction

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Cosmos is a permissionless decentralized network of interoperable and independent blockchains that exchange tokens and information. Cosmos was established in order to overcome some of the problems that modern blockchains have. Scalability, governance, and usability are among these concerns. Blockchains can be separated into three conceptual layers from architecture:  Application layer: It updates the state of blockchain based on the execution of transactions.  Networking Layer: It is in charge of ensuring that transactions and consensus-related messages are propagated.  Consensus Layer: It allows nodes to agree on the system’s present state. The Cosmos is a decentralized network of autonomous, scalable, and interoperable blockchains powered by the Tendermint Core Byzantine Fault-Tolerant (BFT) consensus algorithm. Cosmos is all about the multi-chain world, seamlessly communicating data and tokens between numerous sovereign blockchains. This establishes a collaborative ecosystem because no project or blockchain in the ecosystem exists to compete with others; instead, Cosmos connects them all.  Features of Cosmos: Tendermint Core Cosmos SDK IBC Tendermint Core Tendermint BFT combines a blockchain’s networking layer and consensus layer into a generic engine, allowing developers to focus on the development of the application layer rather than the complicated underlying protocol. Tendermint saves hundreds of hours of development time as a result. Tendermint is also the name of the byzantine fault-tolerant consensus method employed by the Tendermint BFT engine. The Application Blockchain Interface connects the application layer of blockchains with the Tendermint BFT engine through a socket. Any programming language of your choice can be used to wrap the protocol, allowing developers to use whatever language best suits their needs. Cosmos SDK The Cosmos-SDK is an open-source framework for creating multi-asset public Proof-of-Stake (PoS) and Proof-of-Authority (PoA) blockchains, such as the Cosmos Hub. Application-specific blockchains are blockchains that have been created using the Cosmos SDK. The Cosmos SDK’s purpose is to simplify developers to build unique blockchains from the ground up that can natively interact with existing blockchains. IBC It’s a protocol that enables different blockchains to communicate with one another. Considering the legalities and constraints that needed to be met to make this communication process a reality was hard. IBC makes it easy to transfer tokens and other data in a trusted and frictionless manner. It opens up a world of possibilities allowing for interoperability and value transfer, without facing the scaling issues which can be seen today in many blockchains. How does IBC work? The logic behind IBC is very simple. Let us suppose, there is an account on chain X, and it wants to send 20 tokens (for eg. ATOM) to chain Y.  Tracking Chain Y receives the headers of chain X continuously and vice versa. This allows every chain to have the track record of the validator set of every other blockchain. For this purpose, each chain runs a light-client of the other. Proof Relay Proof that 20 ATOM tokens are bonded is sent from chain X to chain Y. Validation  The proof sent to chain Y is verified against chain X’s header and if the proof is found valid, then 20 ATOM vouchers are created on chain Y. Keep in mind that, ATOM tokens created on chain Y are not real, because real ATOM tokens still exist on chain X. Tokens present on chain Y are just a representation of ATOM on chain X, along with proof that these ATOM tokens are frozen on chain X. A similar process is followed to unlock the tokens when they return to their origin chain.  Tokenomics Use Cases of ATOM Token ATOM can be used in three ways: as a spam-prevention system, staking tokens, and voting method in governance.  ATOM is used to pay fees as a spam prevention method. Similar to Ethereum’s idea of gas, the fee might be proportionate to the amount of computation required by the transaction. Taking fees is necessary so that malicious actors don’t misuse the blockchain. ATOM can be staked to obtain tokens as rewards. The quantity of ATOM staked determines the Cosmos Hub’s economic security. The more collateralized ATOM there are, the more skin is at stake and the cost of attacking the network rises. As a result, the more ATOM are staked, the better will be the economic security, Governance: ATOM holders can also govern the Cosmos Hub by voting on proposals with their staked ATOM. Initial Token Distribution of Cosmos(ATOM) The Interchain Foundation held multiple private investment rounds, and a public fundraising event on April 6, 2017.  According to the Interchain Foundation, private Contributors, Public Contributors, All in Bits Inc (AiB), and the Interchain Foundation were the recipients of these newly created ATOMs.  In exchange for a $1,329,472.3 donation, strategic and early adopters received 7.1 percent of the first supply or 16,856,718.97 ATOMs. In exchange for $300,000, the seed contributors received 5% of the initial supply or 11,809,947.91 … Continued

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On March 7, 2022, the Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury published guidance (Guidance) for US financial institutions warning about: (1) efforts of foreign actors to evade expanding US economic sanctions and trade restrictions related to the Russian Federation and Belarus and (2) increased risk of malicious cyber-attacks and related... Continue Reading

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The global cryptocurrency market continues to spectate a host of events running across a plethora of protocols from its directory. This time around it is Polygon, which is back to talks amongst folks in the business. Folks from the business keen on the fast evolving world of technologies, are now looking forward to Polygon’s building …

A popular crypto analyst is taking a macro look at Bitcoin (BTC) to get a clearer picture of where the leading crypto asset is heading after several months of volatility. In a new strategy session, Benjamin Cowen first tells his 719,000 YouTube subscribers that regardless of short-term price fluctuations, Bitcoin and the crypto space, in […]

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Organizations use messaging platforms like Slack to bring the right people together to securely communicate with each other and collaborate to get work done. A Slack workspace captures invaluable organizational knowledge in the form of the information that flows through it as the users collaborate. However, making this knowledge easily and securely available to users […]

Critical information can be scattered across multiple data sources in your organization, including sources such as Windows file systems stored on Amazon FSx for Windows File Server. You can now use the Amazon Kendra connector for FSx for Windows File Server to index documents (HTML, PDF, MS Word, MS PowerPoint, and plain text) stored in […]

Illuvium (ILV) prices are down over 78 percent from H2 2021 peaks. However, they are stable on the last trading week, capped below $550—an immediate resistance level. Past Performance The Illuvium price is stable on the last trading day but is down 78 percent from H2 2021 peaks. As per the formation in the daily chart, the ILV price is bearish, and every high may offer entries for aggressive traders. Even so, ILV has strong support at $470, flashing with 2022 lows. Illuvium Technical Analysis Illuvium sellers are in command at spot rates, reflecting the general state of the crypto market for the past few months. Despite the sharp sell-off, the stabilization of ILV prices is a net positive. Therefore, based on the formation in the daily chart, traders may wait for a close above $550—in a bull trend resumption—or a dump below $475 before placing trades. Thus far, there are higher highs relative to the lower BB, which signals bears’ strength and possibly exhaustion. Still, this depends on how prices edge past the immediate reaction point. A close below $470 would easily see ILV slide to $400, reversing all gains made in H2 2021. Conversely, a pullback above the resistance trend line and $550 may be the basis for a rally towards $600 and $740 in the medium term. What to Expect of Illuvium? Traders are hopeful, but sellers are in the driving seat. The reaction at $470 and $550 would define the medium-term trend as ILV prices consolidate inside March 8 and 9 bull bars.

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