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CMGE’s (0302.HK) seven-fold growth in international revenues: an emerging growth engine

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HONG KONG, Apr 13, 2022 - (ACN Newswire) - Despite regulation and a suspension of new game licenses in China, CMGE (0302.HK) grossed RMB3,957 million in 2021, representing a year-on-year increase of 3.6%, according to its 2021 annual earnings report. The company's gross profit margin increased to 37.2% in 2021 from 32.0% in 2020, while gross profit totaled RMB1,473 million, a year-on-year increase of 20.5%.

Jian Xiao, Executive Director, Chairman and CEO of CMGE, stated at the Performance Meeting that several games to be released in 2021 had been delayed due to the failure of achieving the game license as scheduled, as well as greater contributions to development and research, caused 2021 adjusted net margin to decline by 21.9%

With strong performance in 2020, CMGE's performance in 2021 is virtually superior to that of most peer companies.

01. The company's games have achieved international success with a year-on-year international game publishing revenue increasing by 7,260%, and another growth engine emerges.

CMGE's financial statements show that its profits are essentially sourced from developing and operating IP-based games, RMB905 million of which is sourced from the profits of its game development, representing a year-on-year increase of 23.9% and accounting for 22.9% of its annual business revenues, and RMB232 million of which is sourced from the profits of its IP licensing, doubled over the last year, representing a year-on-year increase of 106.9%, showing the abundant IP reserves and outstanding performance of its self-development strategy.

It's noteworthy that CMGE gained revenue of RMB459 million overseas, a year-on-year increase of 72 times. With this growth, its international revenue increased to 11.6% in 2021 from 0.2% in 2020, sharply representing the great progress from its overseas strategy of games.

According to an insider, it's inevitable for domestic game developers to make a breakthrough by surviving on international markets under the more serious regulation. Also, to survive on international markets, the company is facing challenges in all aspects such as the research and development of products, operation, marketing and organization. To survive on international markets has become a key indicator to measure whether a game developer is of competence.

At the Performance Meeting, Jian Xiao stated that CMGE, having committed to international game markets, has provided multiple games products in Hong Kong, Macao and Taiwan, Southeastern Asia, Europe and America and has created professional localization teams in products operation, marketing, user service and advertising. With the success of several products in practice, the international markets will be further developed, the revenue of which will also be increasing.

02. The company has laid a strong foundation for challenges with a year-on-year contribution increase of 48.9% in R&D for core competence of excellent self-developed products.

The research and development is a must for excellent products, and CMGE's financial statements shows that it has been committed to the research and development. As indicated by a set of data, CMGE has a R&D team of 624 professionals by the end of the period, representing a year-on-year increase of 30.0%; its contributions to the R&D are increased from RMB208.6 million in 2020 to RMB310.7 million in 2021, representing a year-on-year increase of 48.9% and accounting for 7.9% of the corporate revenue.

CMGE has also invested in great game developers to develop game business. According to the financial statements, CMGE has invested in over 20 game developers directly or by convertible bonds in recent years.

With its investment, merger and self-development, CMGE's R&D has become mature gradually with five major game types - numerical games, platform games, strategy games, E-sports games and card games, and several new R&D studios and subsidiaries have also been established.

In the long run, the enhanced R&D will lay a strong foundation for the continuous development of products for a game company.

Jiao Xiao believes that as the game industry has been more and more limited and regulated, the game companies must pay more attention to high-quality, multi-platform and long-cycle products and gain profits of one game from multiple platforms. Also, the companies need to attract more loyal customers and enhance user stickiness by the worldview and IP of games, social function and other factors.

Driven by technologies, the game developers should develop more quality products to meet new demands of gamers. The game "Sword and Fairy: World" self-developed by CMGE to be released is a model one.

"Sword and Fairy: World", based on the worldview and IP of "Sword and Fairy", is an immersive open-world RPG where gamers are provided with great freedom to make choices. The game is available on multiple devices including PC, console, mobile phone and VR. The game art meets the VR standard to offer the best immersive experience for gamers. CMGE expects that "Sword and Fairy: World" will be developed into a bestselling strategy game with an annual revenue of over RMB3,000 billion, a high profit ratio and a long life cycle.

03. The company expects a promising future as the returns of self-developed products in international markets will begin after significant games are released.

Next, CMGE is going to release a series of self-developed products and further promote its international markets strategy to earn more reputation among international gamers.

CMGE is scheduled to release several new games with license in the first half of 2022, including "A New Record of a Mortal's Journey to Immortality", "Ultraman: Assembly" and "All Star Fight" that were released this January.

In addition, CMGE is also looking forward to the license of several major new games including "Sword and Fairy: Wen Qing", "Rakshasa Street: Chosen One", "Cultivation Fantasy" and "Daily Life of Group Chat".

As for the expected time when the license will be granted, Jian Xiao holds the view that the reason why the authority has stopped granting game licenses is essentially related to the improvement and review of the game protection system for the minors. In the long run, the government will still support the healthy development of game industry.

In addition, the key product "Sword and Fairy: World" is about to undergo the first test in August 2022 and to be released around the middle of 2023. And the E-sports game "Code: Basketball 3V3" developed by Shanghai Zhoujing will be tested by the end of 2022 and released around the middle of 2023.

At the Performance Meeting, Jian Xiao stated that considering the status quo, the company's R&D will truly pay off in 2023 with a target that the revenue of independent R&D business accounts for 40% or even more of the total revenue in 2023.

Please contact:
PEANUT MEDIA LIMITED
Lu Jing / He MeiYu
Direct Line: (+86) 755-61619798 +8210
Email: hswh@czgmcn.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comDespite regulation and a suspension of new game licenses in China, CMGE (0302.HK) grossed RMB3,957 billion in 2021, representing a year-on-year increase of 3.6%, according to its 2021 annual earnings report.

HKIRA 8th IR Awards 2022 now open for nomination

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HONG KONG, Apr 12, 2022 - (ACN Newswire) - Hong Kong Investor Relations Association (HKIRA) is pleased to announce that public nomination is now open for the HKIRA 8th IR Awards 2022 (the 'Awards'). This will be the eighth consecutive year of the Awards at which remarkable practices of good IR and corporate governance are recognized among Hong Kong listed companies.

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Professor Louis Cheng, Dr. S H Ho Professor of Banking and Finance and the Director of Research Centre for ESG, The Hang Seng University of Hong Kong, Chairman of the Judging Panel (left) and Dr Eva Chan, Founding Chairman of HKIRA (right).

Dr Eva Chan, Founding Chairman of HKIRA, said, "It has been another challenging year for business operators in most industries. IR professionals' role is increasingly important in keeping investors and the public abreast of the latest update of listed companies and their industries. Under the new normal, new forms of communication channels are supported by advanced technologies, to facilitate instant and transparent exchange of information. We are glad that the IR community was able to turn challenges into opportunities and we look forward to recognizing more listed companies with best practices at this year's Awards."

Last year, 167 award entries were received from listed companies, over 890 eligible voters and over 360 voting institutions participated in the voting, casting a total of more than 7,900 votes. 47 winners from various categories were recognized at the Awards. Among the winners, China Resources Beer (Holdings) Company Limited (stock code: 00291), Fortune Real Estate Investment Trust (stock code: 00778), and Xtep International Holdings Limited (stock code: 01368) were awarded Overall Best IR Company by company size - Large Cap, Mid Cap, and Small Cap - respectively.

The HKIRA 8th IR Awards 2022 is once again honoured to have Professor Louis Cheng, Dr. S H Ho Professor of Banking and Finance and the Director of Research Centre for ESG at, The Hang Seng University of Hong Kong, as the Chairman of the Judging Panel. Being an advocate of IR best practice among Hong Kong listed companies, Professor Cheng has in recent years been researching on how ESG impacts investors' decisions. Observing its increasing importance, ESG-related awards have been added to the HKIRA IR Award categories since 2020. With ESG investing becoming increasingly mainstream in the professional investment community and ESG ratings often being used by investors, Professor Cheng has also been looking into the topic of score divergence (i.e. disagreement) among commercial ESG raters, and how such divergence affects or benefits investors.

Public nomination for the HKIRA 8th IR Awards 2022 is now open to Hong Kong-listed companies. Nominated individuals and companies will be placed on the online voting list upon confirmation of their participation. The investment community, including buy-side and sell-side analysts, and fund managers, are eligible to vote. Nominees with the highest votes (weighted) in each award category become the award winners. They then undergo a final assessment by the judging panel for the Most Progress in IR, the Overall Best IR Company Awards and the Grand ESG Award. Facilitating a fair and balanced evaluation, the judging panel comprises academics, representatives from professional associations and the investment community.

The HKIRA 8th IR Awards 2022 scheme has a total of 15 award categories honouring best IR practices of individuals and companies. Among these awards, 12 categories are open for nomination and voting, while the other 3 awards are selected by the judging panel. The award winners are to be announced at a ceremony to be held in Hong Kong in September 2022. For more information, please visit www.hkira.com/awards.

Strategic Public Relations Group is once again proud to be the Official Public Relations Partner and the Diamond Sponsor for the HKIRA IR Awards this year. Please find key dates relating to the Awards with its categories and criteria for selection listed in the Appendix.

About HKIRA
Hong Kong Investor Relations Association (HKIRA) is a non-profit professional association comprising investor relations practitioners and corporate officers responsible for communication between corporate management and the investment community. HKIRA advocates the setting of international standards in IR education, advances the best IR practices and meets the professional development needs of those interested in pursuing the investor relations profession.

HKIRA is dedicated to advancing the practice of IR as well as the professional competency and status of its members. To date, HKIRA has over 1000 members most of whom are working for companies primarily listed on the Stock Exchange of Hong Kong. About 68% of the Hang Seng Index Constituent Stock companies are currently members of HKIRA. HKIRA's members are from a wide spectrum of professions including IR, finance, accounting, company secretarial to corporate investment and hold positions at different corporate levels, including top executives responsible for IR and management of listed companies. For more information about HKIRA details, please visit our website http://www.hkira.com.

About the IR Awards
The HKIRA Investor Relations Awards (the "IR Awards") is an annual campaign that aims to encourage, recognize and reward the excellence in investor relations practices by individuals and companies listed in Hong Kong Stock Exchange. Since the launch in 2015, each year the Awards seeks out and highlights the incredible achievements of individuals and companies with high standards in investor relations through their role modelling to the investment community.

The Awards ceremony, consisting of a conference in the morning and presentation in the afternoon, is a spectacular gathering of IR specialists and industry professionals that applauds and publicizes the year's achievements in investor relations. For details of the Awards and online nominations, please visit http://www.hkira.com/awards.

Appendix
Key Dates
Nomination period: 12 April to 17 May
Online voting period: 23 May to 29 June
Judging Panel Meeting: July 2022
Award Presentation: September 2022

Award Categories
Award Categories / Recognition / Selection Method
Best IR Company / Company's Achievements / Open for nomination and online voting
Best IR Team / Company's Achievements / Open for nomination and online voting
Best ESG (E) / Company's Achievements / Open for nomination and online voting
Best ESG (S) / Company's Achievements / Open for nomination and online voting
Best ESG (G) / Company's Achievements / Open for nomination and online voting
Best Investor Meeting / Company's Achievements / Open for nomination and online voting
Best Investor Presentation Material / Company's Achievements / Open for nomination and online voting
Best Annual Report / Company's Achievements / Open for nomination and online voting
Best IR Company for an IPO* / Company's Achievements / Open for nomination and online voting
Best IR by Chairman/CEO / Individual's Achievements / Open for nomination and online voting
Best IR by CFO / Individual's Achievements / Open for nomination and online voting
Best IRO (Investor Relations Officer) / Individual's Achievements / Open for nomination and online voting
Most Progress in IR / Demonstration of the most progress in IR in the above areas during 2021 / Selected by Judging Panel
Overall Best IR Company Awards / Outstanding and all-round excellence in the above areas / Selected by Judging Panel
Grand ESG Award / Overall excellence in all the three areas across ESG / Selected by Judging Panel

* Companies which were listed on the Stock Exchange of Hong Kong in 2020 and 2021 are eligible to be nominated for this award.
Remarks: All awards will be further categorised by company market capitalisation into Large Cap, Mid Cap, and Small Cap, except Best IR Company for an IPO and Most Progress in IR Awards.

Judging Panel (Arranged in alphabetical order of last name)
Name Title Firms / Organizations
Professor Louis Cheng (Chairman of Judging Panel) / Dr. S H Ho Professor of Banking and Finance, Director of the Research Centre for ESG, Director of the Research Institute for Business / The Hang Seng University of Hong Kong
Mrs Amy Donati / Executive Director and Chief Executive Officer / EDICO Holdings Limited
Ms Ashley Khoo, CFA, CPA / Past President and Board Director / CFA Society Hong Kong
Mr Andrew Look / Independent Non-Executive Director / CITIC Resources Holdings Limited
Ms Victoria Mio, CFA, FRM / Head of Equity Research, Asia Pacific / Fidelity International
Dr Maurice Ngai / General Committee and the Chairman of Membership Services of the Sub-Committees / Chamber of Hong Kong Listed Companies
Mr Wilfred Yiu / Managing Director and Co-Head of Markets / Hong Kong Exchanges and Clearing Limited


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comHong Kong Investor Relations Association (HKIRA) is pleased to announce that public nomination is now open for the HKIRA 8th IR Awards 2022 (the 'Awards').

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Following the numerous hacks that happened across blockchain bridges, here is an article that explains what they are and why bridges are vulnerable.

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RTO of LTKM Berhad via the Acquisition of EMS Business for RM336 Million

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KLANG, Malaysia, Apr 8, 2022 - (ACN Newswire) - LTKM Berhad (LTKM), a leading chicken egg producer, today announced a composite proposal, chiefly to divest the Company's existing business and venture into the business of providing of electronic manufacturing services (EMS) while at the same time, rectify its non-compliance with the public spread requirement of its shares under the listing requirements of Bursa Securities Malaysia Berhad.

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Chai Voon Sun, co-founder and Managing Director of Local Assembly [L] and Executive Chairman of LTKM, Datuk Tan Kok

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Wee Thian Song - Co-founder, Executive Director and Engineering Director of Local Assembly; Gurmakh Singh - Co-founder, Executive Director and General Manager of Local Assembly; Datuk Seri Chiau Beng Teik - Executive Chairman of Chin Hin Group Berhad; Chai Voon Sun - Co-founder and Managing Director of Local Assembly; Datuk Tan Kok - Executive Chairman of LTKM; Tan Kah Poh, Kenny - Independent Director of LTKM; Rahman Ali Bin Abdul Wahab - Director of Proven Venture Sdn. Bhd. [L-R]

Executive Chairman of LTKM, Datuk Tan Kok said, "At its core, the proposals seek to reward our shareholders from the proceeds of the disposal of the Company's existing poultry business while at the same time, allow them to continue participating in the new EMS business following the proposals."

"The proposed disposal comes amid the challenging operating landscape for the poultry industry brought on by overcapacity, low average selling price of eggs, high raw material prices, difficulty in controlling disease outbreaks in the farms and acute labour shortage. In relation to these challenges, we have also incurred losses in the recent financial years ended 31 March 2020 to 2021 and for the nine-month period ended 31 December 2021. This has affected our ability to pay dividends too."

"Concurrent with the proposed disposals, we believe the proposed acquisition of the EMS business is an opportunity to create value for our shareholders through a business that is viable and profitable."

Briefly, the proposals comprise the following inter-conditional steps:

1. Proposed disposal of LTKM's existing business to Ladang Ternakan Kelang Sdn Bhd (LTKSB) for a total cash disposal consideration of RM158.83 million. LTKSB, which holds 71.6% of the equity interest in LTKM, is also the holding company of LTKM;

2. Proposed special dividend and capital repayment of RM1.1098 per LTKM share totalling RM158.83 million on an entitlement date to be determined;

3. Proposed consolidation of two existing LTKM shares into one LTKM share following the proposed special dividend and capital repayment;

4. Proposed acquisition by LTKM, of 100.0% equity interest in Local Assembly Sdn Bhd (Local Assembly) from Chai Voon Sun, Gurmakh Singh a/l Ajmer Singh, Wee Thian Song, Divine Inventions Sdn Bhd and Proven Venture Sdn Bhd (Vendors) for RM336.00 million to be satisfied through cash of RM100.00 million and the issuance of 393,333,333 new LTKM shares at an issue price of RM0.60 each;

5. Proposed restricted issue of 230.00 million new LTKM shares at an indicative issue price of RM0.60 each, representing 33.1% of the enlarged share capital of LTKM after the proposals to investors to be identified;

6. Proposed exemption to the vendors and persons acting in concert from the obligation to undertake a mandatory take-over offer to acquire the remaining LTKM shares not already owned by them upon completion of the proposed acquisition; and

7. Proposed change of name to "LA Technology Berhad" from "LTKM Berhad".

The proposed acquisition will result in a significant change in LTKM's business direction from a producer of chicken eggs to becoming an EMS provider. Local Assembly, an EMS provider, will become a wholly-owned subsidiary of LTKM while the vendors of Local Assembly will become LTKM's controlling shareholders with a 56.6% equity interest in the Company following the proposed acquisition and proposed restricted issue. By virtue of his shareholding in Divine Inventions, Datuk Seri Chiau Beng Teik, the Executive Chairman of Chin Hin Group Berhad, will become a major shareholder of LTKM.

Under the proposed acquisition, the vendors have provided a profit guarantee for Local Assembly of a minimum profit after tax (PAT) of RM28.00 million for the financial year ending 31 December 2022 or not less than an aggregate of RM50.00 million PAT for both financial years ending 31 December 2022 and 2023. Based on the guaranteed PAT of RM28.00 million for the financial year ending 31 December 2022, the purchase consideration represents a price to earnings multiple of 12 times.

For Chai Voon Sun, co-founder and Managing Director of Local Assembly, the listing of Local Assembly via LTKM means a realisation of 2 decades of hardwork for him and his co-founders and a step forward in the company's journey of growth and expansion. "This transaction is a major milestone for Local Assembly. We look forward to the next phase of our corporate journey as a listed entity, which will further accelerate our growth as an EMS player, allow us to expand our customer base and product offerings and pursue more opportunities" he adds.

Local Assembly, which started operations in 2000, is a manufacturer of electronic, electrical and plastic injection moulded components, and sub-contract assembler of electrical appliances and equipment. Its principal markets are Malaysia and Singapore. For the financial year ended 31 December 2022, Local Assembly achieved PAT of RM20.06 million on the back of a revenue of RM116.35 million.

The application for the proposals is expected to be submitted to the relevant authorities by the second quarter of 2022. Subject to approvals from relevant parties including Securities Commission, Bursa Securities Malaysia Berhad as well as shareholders of LTKM, the proposals are expected to be completed in the first half of 2023.

M & A Securities Sdn Bhd is Adviser to LTKM for the proposals.

LTKM Berhad: https://www.ltkm.com.my/
LTKM Berhad: 7085 / [BURSA: LTKM] [RIC: LTKM:KL] [BBG: LTKM:MK]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comLTKM Berhad (LTKM), a leading chicken egg producer, today announced a composite proposal, chiefly to divest the Company's existing business and venture into the business of providing of electronic manufacturing services (EMS) while at the same time, rectify its non-compliance with the public spread requirement of its shares under the listing requirements of Bursa Securities Malaysia Berhad.

G3 Global Gets Shareholders’ Nod for Healthcare Venture and Three Other Resolutions

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KUALA LUMPUR, Apr 8, 2022 - (ACN Newswire) - Artificial Intelligence specialist G3 Global Berhad (G3) has cemented its entry into the higher-margin Healthcare business - beginning with the sale of COVID-19 test kits - after it received approval from its shareholders today. Via a virtual Extraordinary General Meeting (EGM), the shareholders also approved a cash call to grow the Healthcare and ICT divisions; a higher limit to issue new shares; and the engagement in related party transactions (RPT).

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Dirk Quinten, Managing Director

Four resolutions were tabled at the EGM, all of which received approval by the voting shareholders. The first resolution was on the proposed diversification into healthcare-related business, whereas the second resolution was on a proposed private placement of up to 432,849,300 new ordinary shares or 20% of G3's total issued shares. The new shares will be issued to independent third-party investors to be identified at a later stage, and the funds raised will be used to expand G3's Healthcare and ICT businesses.

In addition, the third resolution was to increase the limit for authority to allot and issue shares from 10% to 20%, while the fourth resolution proposed a new shareholders' mandate for recurrent RPTs.

Mr. Dirk Quinten, Managing Director G3 Global Berhad said: "The strong approval we received from the shareholders today is indicative of their confidence in the management and the strategic business directions of the Group. Moving forward, G3 will expand its footprint in the Healthcare segment by leveraging on the technology from our partners, i.e. SenseTime and Bestinet Group, as we strive to be more than just a test kits supplier. We are also looking at providing tech-driven healthcare support services to local public and private hospitals and this would offer a good recurring income stream for the Group.

With regards to the private placement exercise, we already have a few parties expressing their interest in G3 as a forefront Artificial Intelligence company supporting the healthcare sector. The prospective investors believe in the value proposition that G3 could bring, especially after the acquisition of Bestinet Healthcare Sdn Bhd last year."

G3 acquired a 51% equity stake in Bestinet Healthcare on 8 September 2021. The principal activities of Bestinet Healthcare are mainly related to pharmaceuticals and medicines & health products. The shareholding in Bestinet Healthcare will help to boost G3's revenue and allow exploring additional business opportunities in the future. The Group will also leverage on its in-house Artificial Intelligence capabilities to innovate new products and services for the healthcare business.

G3 Global: https://g3global.com.my/
G3 Global: 7184 / [BURSA: G3G] [RIC: GLOA:KL] [BBG: G3G:MK]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comArtificial Intelligence specialist G3 Global Berhad (G3) has cemented its entry into the higher-margin Healthcare business - beginning with the sale of COVID-19 test kits - after it received approval from its shareholders today. Via a virtual Extraordinary General Meeting (EGM), the shareholders also approved a cash call to grow the Healthcare and ICT divisions; a higher limit to issue new shares; and the engagement in related party transactions (RPT).

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.
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Legend Capital’s Portfolio Company Recbio Lists on HKEX Successfully

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HONG KONG, Apr 7, 2022 - (ACN Newswire) - On 31 March 2022, Legend Capital's portfolio company Jiangsu Recbio Technology Co., Ltd. ("Recbio", stock code: 2179.HK), a leading novel vaccines company, went public on the Hong Kong Stock Exchange. The listing makes Recbio "the first HPV vaccine stock in Hong Kong" and "the first novel adjuvant vaccine stock in Hong Kong". Recbio is expected to inject new vitality into the capital market in Hong Kong.

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Recbio is a novel vaccine company driven by independent novel adjuvant technology. It has built a comprehensive and high-valued vaccine portfolio consisting of 12 candidates, covering cervical cancer, COVID-19, adult tuberculosis, shingles, HFMD, influenza, etc. Recbio is primarily focused on the R&D of HPV vaccine candidates. Its core product REC603, a recombinant HPV 9-valent vaccine, is currently under phase III clinical trial, and is expected to become the first approved domestic HPV 9-valent vaccine in China. In addition, Recbio has also begun to deploy in the mRNA vaccine field and is currently developing the COVID-19 mRNA vaccine.

Recbio has constructed the three core technology platforms consisting of independent novel adjuvants, protein engineering and immunological evaluation. It is one of the few companies capable of independent development of novel adjuvants and the novel adjuvants it developed have been successfully applied in various innovative vaccines such as COVID-19 vaccines, HPV vaccines and shingles vaccines.

Legend Capital led Recbio's Series B financing in 2020, through a coordinated investment of the comprehensive growth fund and the healthcare fund and re-upped on its Series C financing in 2021, marking Recbio another successful case towards Legend Capital's multi-fund coordinated investment. As the major institutional investor to Recbio, Legend Capital provides Recbio with multi-faceted support involving corporate governance, business strategy, technical route, R&D resources, management improvement and financial support.

Dr. Liu Yong, the Founder, Chairman of the Board, and General Manager of Recbi, said, "We are much appreciated Legend Capital's long-term and firm support to Recbio. As the institutional investor with the largest shareholding in the company, Legend Capital's investment philosophy of 'Business First, People Crucial' is highly compatible with our corporate culture. Legend Capital has always supported our management team in major decision-making and continued to assist in the development, becoming one of the most trusted and respected investors of Recbio. The listing is just a new chapter of Recbio, and the management team hopes to work closely with all the investors represented by Legend Capital to write a new legend!"

Hank Zhou, the Co-Chief Investment Officer of Legend Capital, said: "Congratulations to Recbio and its team led by founder Dr. Liu Yong. Liu has been engaged in vaccine research and development for over two decades, with high academic status and extensive experience in the industry. Liu's team has been deeply involved in the field of vaccine research and development for many years. Its vaccine portfolio strategically aimed at major disease and the team is actively deploying large-scale production. We admire Liu's great enthusiasm for the vaccine industry and his strong sense of responsibility and commitment. Recbio is now the leading vaccine company in China. After the successful listing, we believe that Recbio will continue to make breakthroughs in its core field of new adjuvant and vaccines to benefit more patients."

Frank Hong, the Managing Director of Legend Capital, said: "After the outbreak of the pandemic, the vaccine industry has stepped into a high-speed development stage after years of accumulation on technology and talent pool. Recbio is one of the few vaccine companies with high-quality technology platforms, which can continuously produce high-quality vaccine products to meet unmet clinical needs. We are optimistic about Recbio's future of its core pipelines, including the HPV vaccine, recombinant shingles vaccine REC610 and COVID-19 vaccine. Advanced with its disruptive technology in the field of recombinant protein vaccines, Recbio is expected to be a company with strong competitiveness in the global market."

Legend Capital has long paid close attention to investments in the field of life sciences. In addition to Recbio, there are other portfolio companies listed on A shares or H shares, including Pharmaron Inc. (300759.SZ; 03759.HK), KingMed Diagnostics (603882.SH), WuXi AppTec(603259.SH; 02359.HK), WuXi Biologics (02269.HK), Innovent Biologics (01801.HK), Berry Genomics (000710.SZ), Harbour BioMed (02142.HK), New Horizon Health (06606.HK), Chemclin Diagnostics (688468.SH), etc.


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comOn 31 March 2022, Legend Capital's portfolio company Jiangsu Recbio Technology Co., Ltd. ("Recbio", stock code: 2179.HK), a leading novel vaccines company, went public on the Hong Kong Stock Exchange.

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Official Listing of Recbio on HKEX, Vaccine Innovation and Iteration Accelerated by Novel Adjuvant Technology

HONG KONG, Apr 1, 2022 - (ACN Newswire) - On March 31, the China-based novel vaccines company - Jiangsu Recbio Technology Co., Ltd. ("Recbio" or the "Company", Stock Code: 2179.HK) went public and was officially listed on the Hong Kong Stock Exchange. Assuming the Over-allotment option is not exercised, 30,854,500 H shares were issued under the Global Offering, with a price of HK$24.80 per share and proceeds up to approximately HK$765 million. The Hong Kong public Offering received an enthusiastic response from investors and was over-subscribed by more than 9.65 times. As the cornerstone investors of the Company, the cornerstone subscription ratios of Yangtze River Pharmaceutical, Harvest Global and Sequoia China exceed 50%. Previously, the Company has won the favor of many well-known investment institutions, including Legend Capital, LYFE Capital, Oriental Fortune Capital, Fer-Capital, Sequoia China, CMB International, Lake Bleu and Temasek. Having successfully listed in Hong Kong, becoming "the first HPV vaccine stock in Hong Kong" and "the first novel adjuvant vaccine stock in Hong Kong", Recbio is expected to inject new vitality into the capital market in Hong Kong.

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Chart: Innovative vaccine portfolio of Recbio

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Domestic vaccine innovation and iteration accelerated by novel adjuvant technology

Vaccines are praised as the "golden track" in the medical health field. According to the Frost & Sullivan report, from 2016 to 2020, the size of the global vaccine market has increased from US$27.5 million to US$39.9 billion at a CAGR of 9.7%, while the CAGR of global pharmaceutical market was only 3.02%. China has become the second largest vaccine market globally, with the market volume increased from RMB27.1 billion in 2016 to RMB75.3 billion in 2020 at a CAGR of 29.1%.

Regarding the insufficient domestic supply of and the unmet urgent demand for novel vaccines, it has become an important part of the Development Planning of the Pharmaceutical Industry in the "14th Five-Year Plan" in China (referred as the "Plan") to promote enterprises to speed up the development of related products and to achieve product availability as soon as possible. Regarding the development of the vaccine industry, the "Plan" also states that research and development of novel vaccines (such as novel adjuvants for vaccines and mRNA vaccines) and building of industrialization capability shall be accelerated. It also emphasizes on the development of novel COVID-19 vaccines, herpes vaccines, polyvalent human papillomavirus (HPV) vaccines and other products.

As an innovative novel vaccine company, Recbio has constructed the three core technology platforms consisting of novel adjuvants, protein engineering and immunological evaluation, forming synergy in antigen design and optimization, adjuvant development and production, identification of the best combination of antigen and adjuvants. The Company has built a comprehensive and high-valued vaccine portfolio consisting of 12 candidates, covering cervical cancer, COVID-19, adult tuberculosis, shingles, HFMD, influenza etc. It covers five of the ten diseases with the greatest burden under the 2019 Global Burden of Diseases issued by the World Health Organization and disease areas of the three of the top five globally bestselling vaccine products in 2020.

Novel adjuvant for vaccines is the "bottleneck" technology of innovative vaccines. Through years of technical research, Recbio has successfully achieved independent control of all FDA-approved novel adjuvants, and is one of the few companies in the world capable of independent development of novel adjuvants. It has also successfully applied in various innovative vaccines such as COVID-19 vaccines, HPV vaccines and shingles vaccines.

A moat constructed with a rich product portfolio

HPV vaccines are one of the most commercially valuable vaccines in the world. It is expected that there will be 234 million females in China aged 9-45 unvaccinated for HPV in 2025 assuming 3 doses per person, requiring additional 702 million doses. Currently, Recbio has formed a full coverage of bivalent, quadrivalent and 9-valent vaccines and novel adjuvant upgrades in the field of HPV vaccines. The core product REC603, a recombinant HPV 9-valent vaccine is currently under phase III clinical trial, expected to become the first approved domestic HPV 9-valent vaccine. Regarding the global immunization program market, REC601, a bivalent vaccine has the potential to become one of the most popular vaccine options. At the same time, the Company is also in the process of developing second-generation HPV vaccines, namely REC604a (a quadrivalent vaccine) and REC604b (a 9-valent vaccine). Both vaccines have adopted our self-developed novel adjuvants and are expected to achieve two-shot regimens in the future. The construction of the first phase of the HPV manufacturing facility of Recbio is expected to be completed by the end of this year. By then, it will realize the designed capacity of five million doses of HPV 9-valent vaccines or 30 million doses of HPV bivalent vaccines per year. As the first cancer preventive vaccine in the world, HPV vaccines have been in shortage for a long time. With the gradual release of domestic HPV vaccines in the future and the gradual release of production capacity, domestic substitution will be accelerated.

Protein engineering, novel adjuvant and other technology are comprehensively used in ReCOV, the COVID-19 vaccine of Recbio, to thoroughly optimize the vaccine, allowing ReCOV to possess a series of comprehensive advantages, including excellent safety, strong immunogenicity, strong cross-protection effectiveness with Omicron and Delta mutant strains, easy-to-scale-up production, low production cost, high preparation stability, storage and transportation in room temperature etc. The international phase II/III clinical trials of such vaccine are currently in progress. EUA/BLA applications are estimated to be submitted in 2022. On the side of production supply, the Company has completed the construction of our GMP-standard manufacturing facility for ReCOV and obtained the drug production license in November 2021. The manufacturing facility has a total GFA of approximately 17,000 sq.m., has the potential to support an annual manufacturing capacity of 300 million doses of ReCOV and can be used to manufacture recombinant shingles vaccines.

In the field of shingles vaccines, shingles virus is dormant in almost all adults over 50 of age in China, affecting approximately 2.5 million adults in China every year. However, Shingrix is currently the only shingles vaccine approved in China. The novel adjuvant which benchmarking AS01 is adopted in REC610 of the Company, significantly improving vaccine immunogenicity, hoping to achieve domestic substitution quickly.

Recogen, our subsidiary has first achieved technology breakthrough in lyophilized mRNA vaccines. It has applied the self-developed freeze-drying technology to achieve preparation stability at 4 degrees Celsius and 25 degrees Celsius, allowing storage and transportation under general cold-chain conditions, effectively solving the current defect in availability of mRNA vaccines.

"We are glad that the Hong Kong stock IPO has been highly recognized by the capital market. The successful listing of Recbio is expected to bring more confidence to the Hong Kong 18A stock market. Thanks to all the investors for their strong support, we were able to successfully go public as originally planned in such extremely depressed environment of the Hong Kong capital market!" Regarding the listing of Recbio in Hong Kong, Dr. Liu Yong, the Founder, Chairman of the Board, and General Manager of Recbio stated that, "Against the backdrop of a huge global demand for innovative vaccines in this era, through continuous innovation and international cooperation, we will accelerate the commercialization of products in the global market, promote innovation in the entire value chain of the vaccine industry from R&D to commercialization, and create greater value for shareholders and investors. Today is the beginning of a brand-new journey for Recbio. I hope that all investors will continue to support our Company. Let's hope we will continue to move forward hand in hand, through the sweltering summer and winter, and create new glory together!"

About Recbio
Founded in 2012, Recbio is an innovative vaccine company with independent research and development technology as its core driving force. It is committed to building a full value chain of innovative vaccines, covering research and development, production and commercialization. The Company has always adhered to the mission of "creating first-class vaccines and protecting human health". With a strong research and development engine comprising of novel adjuvants, protein engineering, immunological evaluation and other core technology platforms, strategically focusing on disease areas with significant burden such as cervical cancers COVID-19, shingles, adult TB, HFMD and flu etc., the Company has established a high-value product pipeline consisting of 12 vaccine candidates with independent intellectual property rights, in order to meet the under-fulfilled public health needs. For more information, please visit https://www.recbio.cn/.


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comOn March 31, the China-based novel vaccines company - Jiangsu Recbio Technology Co., Ltd. ("Recbio" or the "Company", Stock Code: 2179.HK) went public and was officially listed on the Hong Kong Stock Exchange.

What You Need to Know about Polkadot (DOT) in 2022

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SINGAPORE, Apr 1, 2022 - (ACN Newswire) - 2021 was a huge year for the cryptocurrency market, with huge strides in growth and adoption of digital assets, NFTs, and blockchain worldwide. It was also an incredible year for Moonstake as we rose the top rankings of global staking providers, reaching a total staking assets of $1.8 billion thanks to the support of our users and partners worldwide. As we begin the new year 2022, Moonstake as well as our strategic coin partners have many exciting news and programs in store for you as our platforms scale and evolve. To welcome our user community into the exciting new year, we're creating a series of articles in collaboration with our strategic partner on what you need to know about our partner coins in the year 2022, this time with Polkadot.

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As of January 2020, Moonstake has been supporting DOT staking via strategic partnership with RockX, one of Polkadot's leading node operators. Since then, Moonstake has hosted a number of campaigns that promote awareness of the Polkadot ecosystem as well as adoption of DOT staking to global users, including webinars and giveaways. Later, Moonstake also partnered with Plasm, now known as Astar Network, a leading DApps hub on Polkadot, to expand support for the ecosystem with other parachains.

In 2021, Polkadot accomplished a number of major development milestones with the rollout of Parachains, Slot Auctions, and Crowdloans across 2 Relay-chain networks: Kusama coming live early in the year and Polkadot following up in December, both of which saw numerous successful parachain launches following their establishments. Additionally, the number of nominator accounts the network can support has tripled from 6,000 at the end of 2020 to 22,000 at its peak. In terms of organized events, Polkadot also managed to participate in over 380 meetups and conferences across the globe, both online and offline,in its effort to cultivate the global Polkadot community against the turbulence caused by the pandemic. Most notably, Polkadot received support and endorsement from the largest telecom company in Europe, Deutsche Telekom, who is currently using its infrastructure to participate in the Polkadot public blockchain network as a validator.

For 2022, Polkadot is focusing on expanding the number of Parachains on their network, with the ultimate goal being 100 parachain slots total. The project is also strongly continuing to push its efforts in building a robust development community for the ecosystem through even more events, hackathons, and initiatives. Not only will this help propel the ecosystem to greater heights in terms of technical achievements and usability, it is also how Polkadot will grow its user base and attract the interests of investors looking for high-value ecosystems.

Moonstake is proud to be strategic partners of Astar to expand the Polkadot ecosystem.We will continue to maintain strong support for the ever growing and developing Polkadot ecosystem and hope to bring even more great value to DOT and crypto users worldwide in 2022 to help accelerate adoption of the Polkadot and Moonstake ecosystems together.

About Moonstake

As a world-leading staking service provider, Moonstake develops and operates decentralized wallet services for enterprises and end users.

Our full-scale staking business started in August 2020. With the support of users all over the world, our total staking assets has risen to 1.8 billion dollars. In June 2021, we ranked third among 15,000 staking providers globally.

So far, we have expanded our business and ecosystem through about 30 strategic partnerships, including major blockchains such as Emurgo which is a constituent organization of Cardano, TRON, and NEO. In May 2021, we became a wholly owned subsidiary of the listed company "OIO Holdings Limited" on the Singapore Stock Exchange and we are working to further expand Moonstake's business and improve our credibility. https://www.moonstake.io/

About Polkadot

Polkadot will enable a completely decentralized web where users are in control.

Polkadot is built to connect private and consortium chains, public and permissionless networks, oracles, and future technologies that are yet to be created. Polkadot facilitates an internet where independent blockchains can exchange information and transactions in a trustless way via the Polkadot relay chain.

Polkadot makes it easier than ever to create and connect decentralized applications, services, and institutions. By empowering innovators to build better solutions, we seek to free society from its reliance on a broken web where its large institutions can't violate our trust. https://polkadot.network/

About Astar

Astar Network is the #1 Smart Contract Hub for WASM + EVM on Polkadot. Since winning its Parachain auction in January 2022, Astar Network has become the top Parachain in the Polkadot ecosystem in terms of Total Value Locked and most Ethereum assets transferred over. Astar Network is the leading smart contract hub that connects the Polkadot ecosystem to Ethereum, Cosmos, and all major layer 1 blockchains. Astar Network supports dApps using multiple virtual machines - namely WASM and EVM - and offers the best technology solutions and financial incentives via its Build2Earn and Astar Incubation Program for Web3 developers to build on top of a secure, scalable and interoperable blockchain. https://astar.network/

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAs of January 2020, Moonstake has been supporting DOT staking via strategic partnership with RockX, one of Polkadot's leading node operators.

Fintech Platform Nequi Plans to Get Into the Cryptocurrency Business in Colombia

nequiNequi, a fintech neobank which allowed Colombian citizens to test all-digital financial services, has announced its plans for expansion after having parted ways with Bancolombia, the bank that gave it its origin. These plans include an entry into the cryptocurrency world while complying with the limits set by current regulators. Colombian Nequi to Enter Crypto […]
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