Tag: long

A long tradition of financial discretion makes Switzerland the perfect place to store one’s private keys in a way that will be fully...

HONG KONG, Apr 24, 2022 - (ACN Newswire) - Shanghai Langsheng Biotechnology Co., Ltd., a subsidiary of Legend Capital's co-founded company Innostellar Biotherapeutics, announced...

Leading international crypto exchange Binance has dismissed claims of reportedly providing the Russian regulators with user data on crypto donations linked to President Putin’s...

BANGALORE, INDIA, Apr 22, 2022 - (ACN Newswire) - As companies are emerging stronger from the Covid-19 pandemic, the need is to adapt to the changes in their business functions caused by a once-in-a-lifetime crisis. The way a company interacts with its clients has undergone substantial transformation leading them to seek innovations that can adapt to the current scenario.
World CX Summit is an In-Person event taking place at Taj Lands End in Mumbai on 27 April 2022. The summit is hosting top Indian CX leaders and global experts, to explore the latest trends and address the most pressing challenges in the current CX ecosystem.

Alongside World CX Summit, Trescon is introducing 'World CX Awards', in a bid to honour top-notch CX professionals across industry sectors in the country, who have revolutionized the CX landscape.

"When you serve stated needs of customers, you meet expectations. When you go beyond and serve unstated needs, you exceed expectations," states KV Dipu, Senior President - Head Operations & Customer Service at Bajaj Allianz General Insurance, and one of the speaker at World CX Summit.

Dharmender Narang, SVP - Chief CX Officer, at IIFL Securities stated, "Today, companies can regularly, and seamlessly collect customer interaction data from across financial, and operations systems, yielding deep insights about their customers. Those with an eye toward the future are boosting their data and analytics capabilities and harnessing predictive insights to connect more closely with their customers, anticipate behaviors, and identify CX issues and opportunities making CX as service differentiator in the industry. These companies can better understand their interactions with customers, even pre-empt problems in customer journeys and help company to improve customer loyalty & long relationship thus improving revenue per customer."

World CX Summit will provide a wide spectrum of expert speakers and panelists such as:
- Rekha Nair, Chief Customer Experience & Quality Officer, Adani Airport Holdings Ltd.
- Neeraj Lal, Chief Operating Officer, Apollo Hospitals
- Dharmender Narang, Senior VP, Chief Customer Experience Officer, IIFL Securities
- Dharmarajan K, Chief Business Officer, Tata CLiQ
- Chaitanya Chokkareddy, CIO, Ozonetel Communications Pvt Ltd
- Nishant Shrivastava, Global Head - Centre of Excellence for Unified Communications and Collaborations, TATA Communications
- Shradha Thapa, Regional Head - Govt & OTT Partnership, Infobip
- Prakash Bharath, Director and Regional Head, Freshworks
- KV Dipu, Senior President - Head Operations & Customer Service, Bajaj Allianz General Insurance
- Ramakrishna M, Director - Contact Centre, CX and Outsource Operations, CoinSwitch Kuber
- Indranil Nath, EVP - Operations, Shiprocket
- Nitin Jain, Head of CX (CS&L and Sales) for India & Middle East and Africa, Mondelēz International
- Kumud Upadhyay, SVP - Customer Service, Motilal Oswal Financial Services
- Hari Shankar Mishra, SVP - CX, Future Generali India Insurance Company Limited
- Gaurav Sadana, VP & Head- CX & Central Retention, Bajaj Allianz Life Insurance Company
- Suraj Shetty, Head Of CX, Learning & Development, Kissht
- Zeenat Mongal, DVP CX, ICICI Lombard
- Aalok R Pradhan, Director - Customer Success, CoinDCX

The event will focus on topics such as: Digital Transformation with Customer-First Thinking; Customer Data: Designing for Transparency & Trust; CX Strategies for a Touchless World; Adopting Digital Omnichannel; Future of Chatbots & Virtual Assistants; Rise of the Flexible Workforce; Role of Cybersecurity in Building Customer Trust and much more.

"While digital transformation has become a necessity, business leaders must now face a new set of challenges. As businesses plan for long-term sustained growth, the top priorities are speed, agility, customer experience, and culture shift," stated Mithun Shetty - CEO, Trescon.

World CX Summit - India is officially sponsored by Lead Partner - Ozonetel Communications; Platinum Partners - Gupshup, TATA Communications, Infobip; Silver Sponsor - Phonon Communications; Gold Partners - UserTesting; Freshworks; Bronze Partner - Haptik, NeoSOFT Tech, Yellow.ai.

About Trescon

Trescon is a global business events and consulting firm that provides a wide range of business services to a diversified client base that includes corporations, governments and individuals. Trescon is specialised in producing highly focused B2B events that connect businesses with opportunities through conferences, road shows, expos, demand generation, investor connect and consulting services.

About World CX Summit

World CX Summit is a thought-leadership-driven, business-focused, global series of events that takes place in strategic locations across the world. As a part of the global series, the Indian edition will be gathering pre-qualified CX leaders "all under one roof" to discuss how the latest CX technologies and customer insights can be combined to transform CX with a new approach
The summit will also host a combination of insightful sessions, keynotes, case studies and panel discussions sure to deliver actionable insights that attendees can apply to their Customer Experience strategies.

For further details about the announcement, please contact:
Monith Shetty
Media, PR & Corporate Communications
+91 81059 75937
media@tresconglobal.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAs companies are emerging stronger from the Covid-19 pandemic, the need is to adapt to the changes in their business functions caused by a once-in-a-lifetime crisis.

SINGAPORE, Apr 21, 2022 - (ACN Newswire) - As the single largest shareholder of Kitchen Culture Holdings Ltd. ("Kitchen Culture") with a 21.19% stake, OOWAY Group Ltd. ("OOWAY Group" or the "Group") shares the frustration of many shareholders who raised concerns over matters of internal controls and governance ahead of Kitchen Culture's recent Annual General Meeting held on 18 March 2022.

We are deeply disappointed by the findings of Baker Tilly Consulting (Singapore) Pte. Ltd.'s ("BTC") latest report which confirm our worst fears regarding the shocking matters of concern which were first revealed in June 2021 after Kitchen Culture's Audit Committee engaged BTC to review its internal controls.

In August 2020, Kitchen Culture entered into a sale and purchase agreement and a shareholder's agreement with OOWAY Group to acquire a 30% equity stake in OOWAY Technology Pte. Ltd. ("OOWAY Technology") at a purchase consideration of S$23.92 million (the "Purchase Consideration") to be satisfied by way of the allotment and issue of 90,000,000 new ordinary shares in the capital of Kitchen Culture at an issue price of S$0.2658 per ordinary share ("Acquisition").

Mr Liu Yanlong, representative for OOWAY Group, said, "We welcomed Kitchen Culture as a strategic investor in OOWAY Technology given the mutual benefits of the acquisition, which was in line with Kitchen Culture's diversification strategy and OOWAY Group's expansion in the ASEAN region. OOWAY Group provided an opportunity for Kitchen Culture to leverage our network and capabilities, as well as to participate in the significant growth potential of Big Data analytics and Artificial Intelligence."

Kitchen Culture's diversification strategy was crucial as it had long suffered from recurring losses and negative operating cash flow from its core business as a kitchen solutions provider for 8 years and was in a dire state at the time of the acquisition.

The combination of the newly raised funds and OOWAY Technology's gilt-edge technical capabilities would have provided new engines for growth and hastened the return to profitability for Kitchen Culture.

Prospective investors present at OOWAY Group-led investment roadshows, eventually took up equity in Kitchen Culture, with the expectation of the game-changing business diversification through the acquisition of OOWAY Technology. Unfortunately, the raised capital has not materialised into any effort in business transformation.

Instead, we are deeply disappointed with the findings of the BTC report, which revealed that the gaps in Kitchen Culture's financial operating procedures led to[2]:

- Risk of misuse of Kitchen Culture's funds
- Risk of unauthorised use of proceeds obtained from the S$19.23 million of funds raised
- Risk of diversion of raised funds to purposes outside business diversification purposes
- Risk of questionable debt repayments to third parties
- Lack of independence and checks and balances in approving and processing payments
- Lack of accountability and traceability over entertainment expenses
- Lack of documentation for personnel hiring and pay increments
- Inappropriate operating structure involving multiple family members as management staff

These risks which were unknown to us prior to the acquisition have had a major impact on our growth plans as ongoing audits, investigations and lawsuits require significant time and resources, a challenging situation further compounded by the historical losses. Furthermore, Kitchen Culture has suffered reputational damage as a result of these issues.

Kitchen Culture's last traded price of S$0.08 per share marks an unrealised loss of close to 70% or S$16.72 million for the OOWAY Group following the completion of the acquisition. On the other hand, OOWAY Technology's value has remained stable during this period, which is also Kitchen Culture's key asset. As OOWAY Technology continues its development and making encouraging progress to grow its business, the long-term value of Kitchen Culture's stake in OOWAY Technology remains fundamentally intact.

Mr Liu added, "As a shareholder of Kitchen Culture, we have sustained significant losses, but we remain committed to growing our business together with Kitchen Culture and intend to provide the funding support needed in the near term to allay going concern issues."

The latest BTC report has identified S$7.22 million as "unmatched". This is a staggering sum and OOWAY Group hopes that the Management of Kitchen Culture investigates further to get to the bottom of this issue, so that any and all discrepancies will be ultimately accounted for to shareholders.

The Commercial Affairs Department (CAD) has recently requested for copies of the BTC reports for further review and investigation. We call on the new Board of Kitchen Culture to continue its relentless efforts to strengthen internal controls and implement BTC's recommendations without delay and to cooperate with the CAD to leave no stone unturned in fully resolving all outstanding issues, so we can lead the company in business transformation again.

Our confidence in Kitchen Culture's new Board to safeguard the interests of shareholders remains strong, but it must work hard to rebuild long-term value for Kitchen Culture and its shareholders.

BTC's Schedule of Matched and Unmatched Expense Items[3]
https://www.acnnewswire.com/docs/Multimedia/Low_OOWAY20220421.jpg

General Announcement:: UPDATE ON REVIEW BY BAKER TILLY CONSULTANCY (SINGAPORE) PTE. LTD. https://bit.ly/386bU8i
General Announcement:: ASSISTANCE IN THE REVIEW BY THE COMMERCIAL AFFAIRS DEPARTMENT https://bit.ly/3jWNY9U

[1] "Unmatched" refers to situations with any of the following criteria:
- Expenses cannot be traced to the bank statements
- Details of expenses cannot be traced to the underlying supporting documents
- Description of the expenses on the supporting document is not in line with the categories of utilisation as stated in Kitchen Culture's schedules
[2] These risks and gaps reflect the summary of findings listed in Kitchen Culture's response to SGX queries on 12 July 2021
[3] Rounded up to two decimal points

About OOWAY Technology Pte. Ltd.

OOWAY Technology is a big data AI technology company which uses innovative applications to creatively design intelligent digital products and models used in multiple fields. It does so by forming a closed loop of the entire process which includes data collection, model analysis, and intelligent applications.

OOWAY's development of an advanced technology platform - DIGIT (Digital Innovation of Global Integrated Trade) propels it to leading the way in a new era of B2B trading 4.0. By integrating the vitality of global trading businesses with emerging digital technologies, OOWAY's credit 3.0 technology is combined to construct a smart platform that ensures the authenticity and credibility of global trade whilst reducing costs, increasing efficiency and facilitating trade in a more reliable fashion. OOWAY brings to users the 5S operating framework, pushing out a new form of Ultimate Trade (UT). This has enabled global trade to evolve towards a new stage of standardization and intelligence.

Issued by OOWAY Group Ltd.

Media Contact:
Email: service@ooway.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAs the single largest shareholder of Kitchen Culture Holdings Ltd. ("Kitchen Culture") with a 21.19% stake, OOWAY Group Ltd. ("OOWAY Group" or the "Group") shares the frustration of many shareholders who raised concerns over matters of internal controls and governance ahead of Kitchen Culture's recent Annual General Meeting held on 18 March 2022.

Fantom’s (FTM) price action has looked rather bumpy over the last 30 days. After breaking out of its four-month down-channel, the sellers quickly halted the rally as the price pulled back toward the $0.18-mark. On the charts, the alt faltered at the $1.6-resistance. However, there seemed to be some near-term revival potential if it sustains […]

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.

Bitcoin has been hinting at lower levels during today’s trading session. The benchmark crypto was rejected at around $48,000 and has been unable to reclaim its previous highs. Related Reading | Galaxy Digital’s Jason Urban What Will Drive Ethereum To Flip Bitcoin At the time of writing, Bitcoin trades at $43,100 with a 1% and…

The post Get Ready For A Bitcoin Short Squeeze? Long Traders Pile Up As BTC Struggles appeared first on Bitcoin News Miner.

A quant has explained how the Bitcoin funding rate (72 hour) may be able to correctly signal tops and bottoms in the price of the crypto. Bitcoin Funding Rate May Be Able To Indicate Tops And Bottoms In The Market As explained by an analyst in a CryptoQuant post, the 72-hour version of the funding…

The post Quant Explains How Bitcoin Funding Rate Predicted The Latest Top appeared first on Bitcoin News Miner.

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.
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.

How Is Crypto Taxed in the United States? It’s important for investors, including those with cryptocurrency IRAs, to understand how taxes affect their accounts. Cryptocurrencies are treated as property according to the IRS, just like many other investments. Every sale may cause a taxable event, with only a few exceptions. But if you hold your […]

The post Cryptocurrency & Bitcoin IRA Tax Rules | Bitcoin IRA appeared first on Bitcoin IRA | Official Bitcoin Retirement Account Investment.

On-chain data shows the Bitcoin monthly outflows have recently reached values only seen a few times before in the crypto’s entire history. Bitcoin Exchange Outflows Now Have A Value Of 96.2k BTC Per Month According to the latest weekly report from Glassnode, a historically high amount of BTC has exited all exchange wallets recently. The…

The post Bitcoin Monthly Outflows Reach Historically High Value appeared first on Bitcoin News Miner.