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Metallika.Inc Announces Integration of Blockchain to Mining of Natural Resources

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NEW YORK, Apr 22, 2022 - (ACN Newswire) - Metallika.Inc, a global company focusing on the decentralization of mineral mining, has announced the integration of blockchain technology to its mining operations. The processes involved in mining are made up of a lot of stages with enormous data. In order to make our mining projects available to all investors, no matter big or small, Metallika is launching its own utility token. The company is collaborating in a series of exploration projects that include the granite project (currently in the development stage), beach sand mineral project (feasibility stage), chrome mineral trading, and graphite project (discovery stage). All the mining projects have passed through the initial 4 to 5 stages of the mining lifecycle and can start production within a space of 2 years. The team has also created a decentralized autonomous organization (DAO) to facilitate fast, reliable, and transparent communication among partners in the exploration and mining cycle.

The Metallika DAO

The decentralized autonomous organization created by the Metallika team is a system designed to operate on the blockchain autonomously. It completely adheres to the rules encoded into the smart contract. Every financial transaction within the DAO and the software rules of the smart contract will be stored within the chain of the transaction blocks. The team deployed distributed database technologies, secure timestamps to organize a secure digital ledger of contracts, deeds, and records that ensure ownership for all the DAO participants.

The major product of the DAO Metallika is cloud services. The Metallika DAO provides reliable and transparent communication between participants in the mining cycle with the cloud services. These participants are enabled to form partnerships and also obtain investments at every stage of the cycle. All members of the DAO can access the documentation stored in IPFS and manage approval processes for documentation generated during exploration. They can also issue digital commodity backend tokens that are backed by minerals.

The Metallika Token

It is a utility token that enables the operation of the Metallika DAO. The token guarantees access to the products and services of the DAO. One of the major properties of the token is that you can access it within the private Metalika DAO and other public blockchain networks like Binance Smart Chain (BSC) and Ethereum. The team is currently working on expanding the number of public blockchains for the token. The total token supply is 300,000,000, and 50% (150,000,000) will be an ERC-20 compliant token, while the remaining half will be BEP-20.

Upcoming Token Sale

The first stage of the token sale will be for the 300 million tokens on the public blockchain networks (Ethereum and BSC). Once the Metallika DAO goes live, a liquidity pool of tokens will be created within the DAO. It will be equal to the total number of tokens already issued on the public blockchains. The price per Metallika token is $0.1.

About Metallika.Inc

Metallika.Inc is a blockchain-powered company that tokenizes the services of mining natural resources. Companies and individuals who hold the Metallika token will be granted access to the data about mineral resources. These token holders can be part of the exploration and extraction of these resources.

Social Links
Facebook: https://www.facebook.com/Metallika.IO
Telegram: https://t.me/+D8KLYFM1CrkyNzkx
Twitter: https://twitter.com/MetallikaICO

Media Contact
Venkatesh Padala, Founder and CEO, Metallika.Inc
E: info@metallika.io
U: https://metallika.io/

SOURCE: Metallika.Inc

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comMetallika.Inc, a global company focusing on the decentralization of mineral mining, has announced the integration of blockchain technology to its mining operations.

UREEQA Brings Validation-as-a-Service to the NFT Marketplace

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ONTARIO, CA, Apr 15, 2022 - (ACN Newswire) - UREEQA, a leading digital validation company helping creators to protect, manage and monetize creative work, has today announced the launch of its new Validation-as-a-Service (VaaS) solution, designed to tackle NFT fraud and protect NFT creators.

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Certainly, any solution will involve validating a creator's identity. However, Ureeqa was conceived of the notion that it was as important to validate the authorship and ownership of every creation as well, a factor lacking in current NFT marketplaces, most of which focus on the ease with which creative pieces can be initialized and sold.

UREEQA's unique platform fixes this by employing its VaaS solution to generate a Package-of-Proof(TM) and a Responsibly Minted(TM) NFT, which come together to serve as evidence that the creator and the creation have been authenticated and are legitimate.

"The initial exchange models were adopted by NFT marketplaces on the fly, hurried and so demand-focused that it enabled bad actors to take advantage of the situation," UREEQA CEO Kirk Fergusson said. "Efforts need to be made to curb the abilities to perpetrate fraud as easily in the first place. Then, we have the answer with a patented process and blockchain-based solution that can be integrated into most NFT platforms."

UREEQA's revolutionary system -- which has been tried and tested by renowned artists on the company's own marketplace -- is a creator-centric hybrid approach to validation and IP protection. The platform's patented validation process enables verification via a centralized model, while generating a Package-of-Proof on the blockchain for anyone to see in decentralized fashion.

Any ETH-based NFT sales platform can integrate the core components of the UREEQA platform into their marketplace, just like that. And so too can any auction house or creator association.

Participating marketplaces can visibly delineate creations that have gone through this thorough assessment process -- highlighting the extra steps that creators have taken to instill confidence amongst prospective purchasers.

"Building scalable world-class NFT marketplaces to address early adopter demand has taken considerable effort over the past year," Fergusson added. "At UREEQA, we've spent the last 18 months building a validation solution designed to support creators first and foremost -- and this patented technology is now available to NFT marketplaces to eradicate fraud and instill trust in the creations they're offering through their platforms. By leveraging our VaaS solution, NFT marketplaces can quickly work to stamp out fraud while preparing their marketplaces for broader mass market adoption."

About UREEQA

Established in Canada in 2020, UREEQA is modernizing the inefficient and bureaucratic systems currently in place for copyright protection. By building a robust and compelling Package-of-Proof(TM) for source creative work, UREEQA only mints Validated NFTs to represent creative rights. This helps keep buyers safe by giving them confidence that the work they are purchasing was minted by the smart contract approved by the creator of the work and is therefore authentic.

The UREEQA platform strives to protect creators' work, their rights and their revenue by harnessing the power of blockchain technology. UREEQA provides value and opportunities for its creators, validators and token holders via URQA, the token at the heart of the UREEQA ecosystem. For more information on UREEQA and upcoming announcements, please visit our website, join our Telegram channel and Discord server, and follow us on Twitter, Instagram and LinkedIn.

- Website: https://www.ureeqa.com/
- Discord: https://discord.com/channels/756566642418384906/824682437417369654
- Instagram: https://www.instagram.com/ureeqa_inc/
- LinkedIn: https://www.linkedin.com/company/ureeqainc/
- Telegram: https://t.me/UREEQA
- Twitter: https://twitter.com/UREEQA_Inc

Disclaimer:
Statements in this article, including any statements relating to UREEQA's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in technology development and commercialization. As a result, actual results may vary materially from those described in the forward-looking statements. Do your own research!

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comUREEQA, a leading digital validation company that helps creators protect, manage and monetize creative work, today announced the launch of its new Validation-as-a-Service (VaaS) solution, designed to tackle NFT fraud and protect NFT creators.

Jump.trade to Launch P2E Cricket Game NFT Drop on April 22, 2022

console.debug('TRINITY_WP', 'Skip player from rendering', 'is single: , is main loop: 1, is main query: 1');console.debug('TRINITY_WP', 'trinity_content_filter');Press Release: Meta Cricket League is a...

Yew Lee Pacific Group Bhd Engages M&A Securities Sdn Bhd to Manage Listing Exercise

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KUALA LUMPUR, Apr 11, 2022 - (ACN Newswire) - Yew Lee Pacific Group Bhd (Yew Lee), an established manufacturer of industrial brushes as well as the trading of machinery parts and industrial hardware is pleased to announce that it has entered into an underwriting agreement with M&A Securities Sdn Bhd (M&A Securities) today for the Company's upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd (Bursa Securities).

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Chief Operating Officer of Yew Lee, Ms. Amber Ang; Managing Director of Yew Lee, Mr. Ang Lee Leong; Managing Director of Corporate Finance of M&A Securities, Datuk Bill Tan; Deputy Head, Corporate Finance of M&A Securities Mr. Danny Wong [L-R]

The IPO exercise involves the public issue of 133.1 million shares and an offer for sale of 26.62 million shares to selected investors. From the public issue, 26.62 million shares will be made available for application by the Malaysian public via balloting; 15.97 million shares will be allocated to its eligible directors and employees (pink forms); another 23.96 million shares will be reserved for private placement to selected investors and; an allocation of 66.55 million shares will be allocated through private placement to bumiputera investors approved by the Ministry of International Trade and Industry (MITI).

Under the underwriting agreement, M&A Securities will underwrite 42.59 million shares of the total proposed issue of shares allocated to the Malaysian public and through pink forms. M&A Securities will also place out 90.51 million issue shares to selected investors and bumiputera investors approved by MITI.

Managing Director of Yew Lee, Mr. Ang Lee Leong, said: "We are delighted to be working with M&A Securities on our IPO as this underwriting agreement marks the first stage of the path towards our eventual successful listing on the ACE Market of Bursa Securities. This listing will help us to raise the capital needed for our expansion plans while at the same time, boost our brand visibility in the industrial brush industry."

Managing Director of Corporate Finance of M&A Securities, Datuk Bill Tan said, "We are pleased to be playing a key role in the IPO exercise of Yew Lee. The Company has solid experience and expertise in the production of industrial brushes with a history that goes back to the early 1990s. It has come far but we have no doubt that Yew Lee will build upon this listing to excel even further. We wish the Company well as it enters a new stage in its growth."

Yew Lee manufactures industrial brushes for a variety of industries, including glove, industrial, electrical and electronic, industrial and commercial cleaning providers as well as glass and wood producers. For the financial year ended 31 December 2020 (FY2020), Malaysia contributed 81.4% of total revenue, with Thailand contributing 6.7% and Vietnam contributing 6.2%. By industry, glove manufacturers contributed 88% to revenue in FY2020.

Yew Lee Pacific Group Bhd: https://yewlee.com.my/

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comYew Lee Pacific Group Berhad (Yew Lee), an established manufacturer of industrial brushes as well as the trading of machinery parts and industrial hardware is pleased to announce that the Company has entered into an underwriting agreement with M&A Securities Sdn Bhd (M&A Securities) today for the Company's upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).
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Sky Mavis Announces Early Access Release of Axie Infinity: Origin

Along with the early access is the introduction of free-to-play starter axies to make gameplay more accessible.

The post Sky Mavis Announces Early Access Release of Axie Infinity: Origin appeared first on BitPinas.

Iskra, the Stealth Web3 Game Community Platform Scores $34 million USD Led by a Korean Online Giant

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SINGAPORE, Apr 7, 2022 - (ACN Newswire) - Iskra announced that it secured an investment of up to $34 million USD led by Krust Universe, an investment arm of Kakao, a Korean tech giant. Along with Krust Universe, the list of investors read like who's who of the tech and gaming industry; WeMade, MetaBora, Neowiz, NHN Bigfoot, Fast Ventures, Liberty Investment, and Kakao Ventures.

Iskra aims to be the Future of Play, addressing category growing pains, as well as providing exciting opportunities and new game experiences for players, game developers and investors alike.

While Iskra is a new name, a look at the company's management team lineup reveals an all-star cast of blockchain and online game industry veterans with multiple exits between them from companies such as Dayli Financial Group and Tencent Holdings.

"We believe Iskra is pioneering the way to become the next-generation blockchain gaming publishing platform with unique features for game developers, users and other participants. We chose to invest in Iskra because we identify strong synergy between their ecosystem and ours. Together, we will take the blockchain and Web3 gaming industry to the next level," Henry Chang, CEO of WeMade.

Leading this round, Junghoon Kim, Chief Investment Officer at Krust Universe explained, "Iskra is a seasoned team that can combine the best of blockchain and games. During our incubation, the team successfully built a model that incentivizes various stakeholders in the community." The company further added, "Iskra is well aligned with the 2.0 strategy of Klaytn, a Krust portfolio, in which Klaytn becomes a blockchain of choice for gamefi and metaverse."

Up to now, Iskra has been focusing its resources on the company's Web3 game community platform development as well as acquiring the best next-gen blockchain game content the country has to offer. Most of the initial content that will be announced with the platform are from the same group of investors.

"We are excited that Krust, WeMade, and the rest of our investors trust my team and I to execute on our vision of a community-forward system that aligns interests by rewarding its stakeholders based on participation, while integrating sustainable tokenomic solutions for game developers to the platform. This investment will not only bring capital, but also their domain expertise and network to help expand the reach of Iskra's platform," commented Eugene Lee, CEO/Founder of Iskra.

About Krust

Krust incubates innovative startups that are building the next generation of groundbreaking technology applications. By enabling their growth and supporting their global expansion, we aim to contribute to the innovation of humanity.

About WeMade

WeMade Games is dedicated to serving gamers with a portfolio of entertaining, high quality PC and Mobile games. Established in 2000, WeMade Entertainment Co., Ltd. (KOSDAQ: 112040) is an international game developer publisher that has grown from a handful of passionate game pioneers to a group of over 1,000 game enthusiasts.

About Iskra Pte Ltd

Iskra (https://www.iskra.world/) is the Future of Play. The Company is backed by some of the biggest technology and game companies from Korea. Iskra plans to deploy a $200M game fund to launch next-gen Web3 experiences via its Web3 game community platform. Iskra's community-forward system aligns the interests of the community by rewarding its stakeholders based on their participation, while integrating sustainable tokenomic solutions for game developers that join its platform. The Company seeks to bridge the gap in web3 adoption between early adopters and the mainstream by combining enjoyment, sustainability and the latest in blockchain technology.

Media Contact
Ben Colayco, Global Managing Director
E: media@iskra.world
Headquarters: Iskra Pte. Ltd., 24 Raffles Place, #17-04 Clifford Centre, Singapore 048621

SOURCE: Iskra Pte Ltd

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comIskra announced that it secured an investment of up to $34 million USD led by Krust Universe, an investment arm of Kakao, a Korean tech giant. Along with Krust Universe, the list of investors read like who's who of the tech and gaming industry; WeMade, MetaBora, Neowiz, NHN Bigfoot, Fast Ventures, Liberty Investment, and Kakao Ventures.

Brawijaya Student Start-up makes Forbes 30 Under 30 List

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Malang, East Java, Indonesia, Apr 4, 2022 - (ACN Newswire) - An agricultural start-up initiated by three students from Malang's Brawijaya University whose app, Chickin, has been downloaded by a thousand farmers across Indonesia, has made the Forbes 30 Under 30 list. According to the founders, the application uses Internet of Things (IoT) and artificial intelligence (AI) to enhance the productivity of farmers by up to 25 percent.

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Universitas Brawijaya (UB) in Malang, East Java, Indonesia (ANTARA/ HO/ Universitas Brawijaya)

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Chickin, hatched at UB/U.Brawijaya by founders Ashab, Tubagus and Ahmad (Chicken.ID Website / Malang, Indonesia)

The app was developed by agrotechnology student Ashab Alkahfi, who is serving as the President of Chickin, Tubagus Syailendra from international relations, who is serving as CEO/Chief Executive Officer, and Ahmad Syaifullah from information systems, serving as the CTO/Chief Technology Officer.

"Based on initial research, we developed the app in Klaten, Central Java. We built poultry coops as farmers and began our poultry business where we found a number of challenges faced by local farmers. From there, we tried to solve these challenges by means of technology," Alkahfi explained.

The application allows farmers to control the micro-climate inside chicken coops from a distance. Through the technology, farmers can input data, including daily, sales, and production data, to enhance performance and make it more measurable and at the same time, minimize risks through preventive measures.

The app also offers a number of features for management of the poultry farm, including data and IoT configuration adaptable to climate, temperature and humidity, as well as recording the age of each poultry. Aside from partnering with 14 poultry farms, Chickin has established cooperation with 100 poultry suppliers in the food industry.

Alkahfi said he hopes the app will bring ease to farmers and have a positive impact on them, adding that the farming modernization technology was developed free of charge under Brawijaya University's Entrepreneur Incubator.

Chickin has seen 22-fold growth in the last 10 months and closed a funding round of Rp35 billion with three global investors. The company is targeting to increase revenue to Rp500 billion by the end of 2022.

So far, Chickin Indonesia is not only assiting one thousand farmers across the nation, but the company is committed to developing the technology to minimize the use of antibiotics for organic chicken through coop micro-climate control and providing training to poultry farmers free of charge to modernize Indonesian poultry farms.

For more information, Chickin Indonesia is online at https://chickin.id/.
Written by: Aria Cindyara, Editor: Rahmad Nasution (c) ANTARA 2022

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAn agricultural start-up initiated by three students from Malang's Brawijaya University whose app, Chickin, has been downloaded by a thousand farmers across Indonesia has made the Forbes 30 Under 30 list.

Electronics Manufacturing Solutions Provider Cnergenz Berhad Enlists UOB Kay Hian Securities as Underwriter for Its Listing Exercise

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KUALA LUMPUR, Apr 4, 2022 - (ACN Newswire) - Cnergenz Berhad (CNERGENZ), an electronics manufacturing solutions provider based in Penang, specialising in surface mount technology (SMT) catering to the electronics and semiconductor industries (E&S Industries), is pleased to announce that the Company has entered into an underwriting agreement with UOB Kay Hian Securities (M) Sdn Bhd (UOB Kay Hian) today for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).

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UOB Kay Hian Securities Sdn. Bhd Chief Executive Officer Mr. David Lim; Cnergenz Berhad Chief Executive Officer Mr. Lye Yhin Choy [L-R]

The Company had obtained approval to list on the ACE Market of Bursa Securities and is targeting to launch its Prospectus in April 2022.

The IPO exercise involves the public issue of 100.0 million issue shares and an offer for sale of 50.0 million offer shares by way of private placement.

From the public issue, 25.0 million issue shares will be made available for application to the Malaysian public, 10.0 million shares will be allocated for application by eligible directors and employees as well as persons who have contributed to the success of Cnergenz Group ("Group") ("Eligible Persons"), 52.75 million shares will be reserved for private placement to identified investors and 12.25 million shares will be reserved for private placement to identified Bumiputera investors approved by the Ministry of International Trade and Industry ("MITI").

UOB Kay Hian will underwrite an aggregate of 35.0 million issue shares, comprising 25.0 million shares under the public issue and 10.0 million shares allocated to Eligible Persons as part of the underwriting agreement.

Chief Executive Officer of Cnergenz, Mr. Lye Yhin Choy, said, "This listing will enable us to strengthen our name as a leading electronics manufacturing solutions provider in Malaysia whilst deepening our presence in Thailand and Vietnam, countries which are benefitting from strong investment flows into the E&S Industries."

Chief Executive Officer of UOB Kay Hian, Mr. David Lim said, "UOB Kay Hian is pleased to be working with Cnergenz on its IPO exercise. The Company has a stellar track record and experience in the E&S Industries that dates back to 2004. We are happy to work with Cnergenz in achieving its listing goals."

Cnergenz collaborates closely with its network of over 50 suppliers to offer quality solutions for their customers, building a strong network and contributing to Cnergenz' business development and growth.

Cnergenz caters to domestic and international customers across Malaysia, Vietnam and Thailand. Cnergenz has a customer base of over 100 local and multinational companies operating within the E&S Industries, comprising integrated design manufacturers (IDMs), outsourced semiconductor assembly and test service providers (OSATs) and electronics manufacturing service providers (EMSs), some of which have been customers of Cnergenz for over 15 years.

Cnergenz Bhd: https://cnergenz.com
Cnergenz Bhd: [BURSA: CNERGENZ]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comCNERGENZ Berhad is pleased to announce that the Company has entered into an underwriting agreement with UOB Kay Hian Securities (M) Sdn. Bhd. ("UOB Kay Hian") today for its upcoming initial public offering ("IPO") on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities").

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.

Gamerse: The NFT Gaming Industry’s First Unifying Social Hub

Gamerse: The NFT Gaming Industry's First Unifying Social Hub
As any lifelong gamer will tell you, gaming is a social experience. This rich social ecology allows NFT gamers to connect, trade, and learn about the fast-emerging blockchain gaming sector. The Social Aggregator Marketplace (SAM) is the initial component of Gamerse’s platform. Gamerse’s SAM is a cross-chain, cross-platform social center that curates, displays, and enables […]
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