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DeFi Insurance Platform Uno Re Launches Cover Portal

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NEW YORK, Apr 23, 2022 - (ACN Newswire) - Uno Re (http://unore.io/), a decentralized insurance platform, launched its Cover Portal on April 23, 2022. Accessible through Uno Re's dApp, the Cover Portal addresses an underemphasized need in DeFi space: easy access to insurance. For the first time, DeFi users can insure their crypto-assets in a few simple steps thanks to Cover Portal's clear and simple UI.

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The danger of hacker attacks keeps growing within the DeFi space (case study: https://bit.ly/3jYokl7) causing drastic losses for users and protocols alike. The total sum lost to hacks in the first quarter Q1 2022 is up 695% from Q1 2021 losses. With both the quantity and severity of attacks on the rise, skepticism surrounding the DeFi space is also growing.

One of the leading players in DeFi insurance, Uno Re launched its Cover Portal which aims to grant users easy access to insurance coverage through its user-friendly UI.

What is Uno Re's Cover Portal?

Cover Portal is Uno Re's latest dApp - scanning users' wallet, detecting insurable assets within as well as staked in staking and farming pools across chains, measuring possible risks using an AI-based algorithm, and allowing users to secure their on-chain assets instantly.

Cover Portal is optimizing the insurance purchasing experience for users by simplifying all steps as much as possible. Upon connecting their wallets and detecting their insurable assets, users can simply choose the token(s) and how much to insure. Cover Portal allows users to pay their premiums in USDC.

"The launch of our Cover Portal marks the beginning of a new era in the DeFi insurance industry. We are steadily building and improving our platform to make hassle-free insurance service possible for DeFi users. Cover Portal is the final step towards fulfilling our true potential and makes our platform a complete ecosystem of multiple services and mechanisms, working like clockwork. We are delighted to have achieved this and look forward to improving the overall security of DeFi space." stated Jaskanwar Singh, CEO and Co-founder of Uno Re.

About Uno Re

Uno Re is the protocol behind Cover Portal. An insurance provider for DeFi users and partner of numerous DeFi platforms, Uno Re successfully provided compensation to Umbrella Network hack victims in March 2022. As the insurer, Uno Re has processed the claim in a few days and ensured that 91% of affected wallet addresses are covered and appropriately compensated.

Uno Re is the world's leading decentralised insurance and reinsurance platform, allowing the community to invest and trade in 'risk' and receive sizable returns on their investments in one of the safest asset classes in the world. The platform will break barriers to entry for the retail investor, doing away with the historic pre-requisite of absurdly high capital generally needed to invest in the market while also introducing much-needed transparency into the industry as a whole. Uno Re will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the Uno Re ecosystem.

Media Contact
Media team, Uno Re
E: misbah@unore.io
U: https://unore.io/

SOURCE: Uno Re

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comUno Re ( http://unore.io/ ), a decentralized insurance platform, launched its Cover Portal on April 23, 2022. Accessible through Uno Re's dApp, the Cover Portal addresses an underemphasized need in DeFi space: easy access to insurance. For the first time, DeFi users can insure their crypto-assets in a few simple steps thanks to Cover Portal's clear and simple UI.

NextPlay Technologies Acquires Assets and IP of Casual Game Publisher, goGame, to Integrate its HotPlay In-Game Advertising Technology

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SUNRISE, FL, Apr 20, 2022 - (ACN Newswire) - NextPlay Technologies, Inc. (Nasdaq: NXTP), a technology solutions company building a digital business ecosystem for digital advertisers, consumers, video gamers and travelers, has completed its previously announced acquisition of gaming assets and IP from goGame, a Singapore-based mobile casual video game publisher and technology company.

The acquired assets include goPlay, a new-gen game publishing platform featuring a tournament system, chat, payment, and 37 casual games ranging from arcade to strategy. NextPlay plans to complete the integration of its HotPlay in-game advertising (IGA) technology into the 37 goPlay games by year-end.

NextPlay also acquired from goGame a perpetual license to goPay, a payment aggregator that offers game developers multiple ways to more easily collect and process user payments. This includes carrier billing, over the counter, e-voucher, bank transfer and e-wallet. The goPay technology further extends NextPlay's existing payment services, offering access to a wider array of global payment providers.

"The key value for us in this acquisition is how the goPlay platform enables gamers to form a community within its ecosystem," noted NextPlay co-chief executive Nithinan (Jessie) Boonyawattanapisut. "We see this providing a ready-made platform to launch our HotPlay IGA technology, with this leading to new revenue streams and expansion of our reach to users in many additional countries around the world."

As a fully owned brand, goPlay brings Nextplay:

- Web destination for players to gather and engage in social play across a catalogue of well-crafted, hyper casual games.
- Set of new technologies and APIs, such as social graph, chat, and game tournament backend services, for integration into the company's advertising and game services offering and delivered via its core game software development kit across web, set-top box, and mobile platforms.
- New revenue stream through goPay payments and ability to harness exciting new partnerships in key areas of NextPlay's broader market focus, such as NFT gaming and cryptocurrency.

goPlay and goPay offer a core set of compelling features that are perfect for a wide variety of platform partners who will be able to sign up under an Open Beta this summer. The goGame offerings will become part of the NextPlay suite of customizable products that can be tailored to fit the individual needs and capabilities of B2B and B2C operators across the globe.

NextPlay also plans to introduce goPlay game users to its NextFinancial fintech-oriented products, including crypto banking, micro-lending, and potential insurance services. Across each of these offerings, NextPlay would also have full access to goGame's payment processing gateway goPay.

For further details about the NextPlay's asset and IP purchase from goGame, please see the NextPlay Form 8-K filing with the U.S. Securities and Exchange Commission at www.sec.gov, and also available in the nextplaytechnologies.com investor relations section.

About goGame

Go Game Pte Ltd is a game company headquartered in Singapore, with offices in Malaysia, Philippines, Taiwan, Thailand, and Vietnam. Founded in July 2015 by industry veteran David Ng, the company first made headlines for securing major investments from gaming giant SEGA and venture capitalist Incubate Fund Japan. The 200-strong team has collaborated on projects with SEGA, Disney, Colopl and Viacom. For more information, visit gogame.net

About NextPlay Technologies

NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology solutions company offering games, in-game advertising, crypto-banking, connected TV and travel booking services to consumers and corporations within a growing worldwide digital ecosystem. NextPlay's engaging products and services utilize innovative AdTech, Artificial Intelligence and Fintech solutions to leverage the strengths and channels of our existing and acquired technologies. For more information about NextPlay Technologies, visit www.nextplaytechnologies.com and follow us on Twitter @NextPlayTech and LinkedIn.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, beliefs or forecasts of future events and performance. A statement identified by the use of forward-looking words including "will," "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Factors that may cause such a difference include risks and uncertainties related to our need for additional capital which may not be available on commercially acceptable terms, if at all, which raises questions about our ability to continue as a going concern; the fact that the COVID-19 pandemic has had, and is expected to continue to have, a significant material adverse impact on the travel industry and our business, operating results and liquidity; amounts owed to us by third parties which may not be paid timely, if at all; certain amounts we owe under outstanding indebtedness which are secured by substantially all of our assets and penalties we may incur in connection therewith; the fact that we have significant indebtedness, which could adversely affect our business and financial condition; uncertainty and illiquidity in credit and capital markets which may impair our ability to obtain credit and financing on acceptable terms and may adversely affect the financial strength of our business partners; the officers and directors of the Company have the ability to exercise significant influence and voting control over the Company; stockholders may be diluted significantly through our efforts to obtain financing, satisfy obligations and complete acquisitions through the issuance of additional shares of our common or preferred stock; if we are unable to adapt to changes in technology, our business could be harmed; our travel business depends substantially on property owners and managers renewing their listings; if we do not adequately protect our intellectual property, our ability to compete could be impaired; our long-term success depends, in part, on our ability to expand our property owner, manager and traveler bases outside of the United States and, as a result, our business is susceptible to risks associated with international operations; unfavorable changes in, or interpretations of, government regulations or taxation of the evolving ALR, Internet and e-commerce industries which could harm our operating results; risks associated with the operations of, the business of, and the regulation of our recent acquisitions of Longroot Holding (Thailand) Company Limited (Longroot), HotPlay Enterprise Limited (HotPlay) and NextBank International (formerly IFEB); the market in which we participate being highly competitive, and because of that we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to changes in technology, which could harm our business; the volatility of our stock price; risks associated with the integration of the operations of HotPlay, Longroot and IFEB, which acquisitions we recently competed; the fact that we may be subject to liability for the activities of our property owners and managers, which could harm our reputation and increase our operating costs; and that we have incurred significant losses to date and require additional capital which may not be available on commercially acceptable terms, if at all. More information about the risks and uncertainties faced by NextPlay are detailed from time to time in NextPlay's periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings "Risk Factors". These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

Source: NextPlay Technologies, Inc.

Company Contact:
NextPlay Technologies
Richard Marshall
Director of Corporate Development
Tel (954) 888-9779
rmarshall@monakergroup.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comNextPlay Technologies, Inc. (Nasdaq: NXTP), a technology solutions company building a digital business ecosystem for digital advertisers, consumers, video gamers and travelers, has completed its previously announced acquisition of gaming assets and IP from goGame, a Singapore-based mobile casual video game publisher and technology company.

Singapore-based FinTechs, TechCreate and Diginius, to Merge and Combine Together into an Integrated Fintech Enterprise, TechCreate Group; Focus on Powering the Future of Payments...

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Singapore, Apr 19, 2022 - (ACN Newswire) - TechCreate Solutions Private Limited ("TechCreate"), a Singapore-based technology services group specialising in innovative digital payment and digitalisation solutions, and Diginius Pte. Ltd. ("Diginius"), a provider for IT security and infrastructure solutions, are pleased to announce a merger between both companies via a share swap transaction that will value the enlarged fintech enterprise, TechCreate Group, at USD$30 million, based on a valuation that was recently completed by one of the Big 4 accounting firms.

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From left: Mr Lim Heng Hai, (Group CEO of TechCreate Group) and Mr Ronald Vong, (Managing Partner of TechCreate Group)

As a trusted leader in digital solutions, TechCreate has been at the forefront of technology innovation and since its establishment, it has developed its own proprietary Real-Time Payment Engine (RTE) that can further enhance the payment capabilities of financial and banking institutions. Leveraging its technological expertise, legal experience and extensive operational track record, TechCreate has successfully enabled end-to-end digital solutions (such as payment gateways, API gateways and blockchain solutions, among others) for several banking and financial institutions in Asia.

With Diginius' strengths in intelligence and security for concrete cyber resilience, it has built a growing track record with a focus on delivering technology solutions related to cyber security, hyper-converged IT infrastructure and secure application services. Diginius also works with some of the industry's indisputable experts in cyber security and secured infrastructure services, combined with market-leading technologies to provide a springboard for the next phase of digital transformation.

The current CEO of TechCreate, Mr Lim Heng Hai, will be appointed as the Group CEO of TechCreate Group, while the current CEO of Diginius, Mr Ronald Vong, will be designated as the Managing Partner of TechCreate Group.

Strategic Rationale - Powering the Future of Payments in Asia

According to a Mckinsey report issued on November 2020, Asia has outpaced all other regions in terms of payments-revenue growth over the past several years. The region is also the largest contributor to global payments revenue, generating over US$900 billion in 2019, nearly half the global total. The Asia's payments industry is expected to return to mid-to-high single-digit growth rates and, by 2022 or 2023, generating more than US$1 trillion in annual revenue.

Notably, the COVID-19 pandemic has accelerated Asia's payments megatrends and chief among these was the rapidly expanding number of connected and digitally active consumers, with booming e-commerce markets reinforcing the need for digital solutions. The competitive landscape was simultaneously heating up, with the entry of formidable new players--including telecommunications firms, fintechs, "big techs," and other conglomerates--spurring incumbents to step up their own innovation efforts.

Meanwhile, regulators sought to standardise infrastructure while encouraging competition, fostering the introduction of real-time payments, digital know your customer (KYC), and various local payment schemes.

With a focus on powering the future of payments in Asia, TechCreate Group aims to provide cutting-edge innovation and technology capability to enhance value creation for its customers as follows:

- Expanded business scale with integrated solutions: Having the capabilities to provide more comprehensive and integrated technology solutions related to payment and digitalisation platforms to serve new and existing customers across Asia.

- Strong potential to create new customer value propositions: Ability to broaden its reach and serve diverse customer segments with differentiated requirements and objectives, thereby creating the opportunity and potential to develop proprietary insights and innovative solutions that are aligned with the new trends of payments and digitalisation in Asia.

Commenting on the merger, Mr Lim Heng Hai, Group CEO of TechCreate Group, said, "This is a transformational transaction for both companies, creating an enlarged company with end-to-end digital payment offerings in high-growth verticals as economies in Asia accelerate their digitisation roadmap.

With our combined capabilities, it amplifies our mission be a leading innovative, customer-centric and eco-friendly technology solution provider in Asia."

Mr Ronald Vong, Managing Partner of TechCreate Group, added, "We are confident that the strengths of the combined company will enable meaningful growth to stakeholders, delivering new value and insights to better serve our markets and customers.

At the same time, it can accelerate our growth and more effectively capitalise on our pipeline and broader market opportunities within the banking and financial industries in Asia."

For more information on TechCreate Group, please visit: http://www.techcreate.com.sg/

Issued on behalf of TechCreate Group by 8PR Asia Pte Ltd.

Media Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comTechCreate Solutions Private Limited and Diginius Pte. Ltd. are pleased to announce a merger between both companies via a share swap transaction that will value the enlarged fintech enterprise, TechCreate Group, at USD$30 million.

Society Pass spins-off Leflair into Leflair Group, appoints Group CEO; to become next Super Distributor Nexus in SEA’s Lifestyle Retail Ecosystem

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SINGAPORE, Apr 15, 2022 - (ACN Newswire) - Society Pass Inc (SoPa) (NASDAQ: SOPA), a leading Southeast Asian loyalty and ecommerce ecosystem, today announced the completion of restructuring Leflair's Vietnam operations with the spin-off of Leflair Group (LFGroup). Along with this restructuring, SoPa has appointed Loic Gautier as Chief Executive Officer of the new Leflair Group. Ngo Thi Cham, Vietnam Country Head of SoPa and current Managing Director of Leflair, will become Leflair Group's Chief Operating Officer and work alongside Loic in driving the business towards its next stage of growth.

As a result of this corporate restructuring, the Leflair Group is set to become Southeast Asia's next lifestyle retail super distributor nexus, evolving from a single discounted platform to a lifestyle retail ecosystem, providing shoppers with an integrated and unique shopping experience from online to offline. The Leflair Group will continue to pursue acquisition of companies in the e-commerce, lifestyle retail and online advertising verticals.

Ray Liang, CFO of SoPa Group, commented, "After the IPO of SoPa last year, we have been working on a new strategy for Leflair, in order to maximize its potential as a destination for lifestyle shopping in Southeast Asia. To facilitate this, we are happy to welcome back Loic Gautier as Group CEO, joining our executive team and becoming the driving force of Leflair Group in the future. At SoPa, hiring key talent is among our top priorities, and we always welcome Leflair's old talents to return, and work with the team to carry Leflair to new heights. Having Loic return as the CEO of Leflair Group ensures continuous and sustainable growth for Leflair in the years to come. The new recruitment also enables us to carry out larger plans for Leflair, evolving from a single online platform to become a true ecosystem for lifestyle shopping."

Since its IPO on the Nasdaq last year, SoPa has focused on M&A activities to expand the ecosystem with other online platforms across 6 verticals: lifestyle, F&B, travel, digital media, and B2B software and loyalty technology in the top three V.I.P countries of Southeast Asia - Vietnam, Indonesia, Philippines. Through these business lines, SoPa improves the interconnectedness and support within its ecosystem, fulfilling its mission to connect millions of registered consumers with thousands of registered merchants across Southeast Asia.

With this appointment, Loic will be responsible for managing Leflair Group's growth and expansion strategy, introducing the Leflair platform to other Southeast Asian countries, as well as managing future acquisitions to expand group activity into other smaller segments within the lifestyle retail industry.

As CEO of the new Leflair Group, Loic said, "It's an honor to receive SoPa's trust. With this spin-off, Leflair now has a new medium to maximize its full growth potential. By pivoting from a single platform to an integrated lifestyle retail ecosystem, we seek to connect all players within the lifestyle retail value chain, from brand distributors, to offline stores, ecommerce platforms and delivery companies. The new vision makes Leflair a pioneer in redefining the lifestyle and ecommerce retail market across Southeast Asia."

According to Loic, Leflair Group is working on ambitious plans for the period ahead, aiming for extensive funding rounds and a roadmap to IPO in the near future. To learn more, please visit websites www.thesocietypass.com and www.leflair.com.

About Society Pass

Society Pass is a leading loyalty and data marketing ecosystem that operates multiple e-commerce and lifestyle platforms across its key markets. Its business model focuses on collecting user data through the expected circulation of its universal loyalty points. It seamlessly connects consumers and merchants across multiple product and service categories fostering organic loyalty. Since its inception, SoPa has amassed over 1.6 million registered consumers and over 5,500 registered merchants/brands on its platform. It has invested 2+ years building proprietary IT architecture with cutting edge components to effectively scale and support its Platform's consumers, merchants, and acquisitions.

SoPa provides merchants with SoPa.asia, an online commerce platform for users; #HOTTAB Biz, an order management app for business partners on SoPa.asia; and #HOTTAB POS, a specialized POS technology solution and comprehensive system for payment, loyal customer management, user's profile analytics, and financial support packages for small and medium-sized enterprises. These tools attract and retain customers with personalized interaction based on analytics and high profit margins. SoPa operates Leflair.com, Vietnam's leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in Philippines, and Handycart.vn, a leading online restaurant delivery service in Vietnam. Please visit http://thesocietypass.com.

About Leflair

Based in Ho Chi Minh City, Leflair is Vietnam's leading lifestyle e-commerce platform for Fashion, Beauty and Home Furnishing products. Launched in December 2015, Leflair was selling more than 2,500 brands via its flash-sales model. SoPa acquired Leflair's assets in February 2021, relaunching the platform in September 2021, and spinning-off the Leflair Group in April 2022. For more information, please visit https://leflair.com.

Media Contact
Precious Communications for SoPa
sopa@preciouscomms.com
+65 6303 0567


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSociety Pass Inc (Nasdaq: SOPA) today announced the completion of restructuring of Leflair Vietnam's operations into a separate entity - Leflair Inc ("Leflair Group"). Along with this corporate restructuring, SoPa appointed Loic Gautier to become the new Group Chief Executive Officer of Leflair Group.

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.
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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.

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SCCG and RONIN Partner for North America TV Sports Data

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LAS VEGAS, NV, Apr 8, 2022 - (ACN Newswire) - SCCG Management CEO and Founder Stephen Crystal announced a partnership with the international digital media provider Ronin Venture, a leading provider of TV sports data branded under the name Ronin Sport.

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SCCG will be a strategic business partner to Ronin Venture and help the company grow the business in the North American market. SCCG will provide insights, business development, and advisory services to grow the company within different North American sports market segments.

Stephen Crystal said of the partnership, "Sports betting is a growing sector in the US. The TV sports solutions that Roninsport.io provides to betting operators, sports affiliations, and iGaming platforms have a unique high quality. You can tell that the founders of roninsport.io have been doing this for 15 years."

Andreas Fredmark, the Managing Director of Roninsport.io says, "All in the management team are excited to start working with Stephen and his team at SCCG. The industry experience that SCCG is extraordinary and will contribute to developing our services further. Coming from Sweden with a focus on engineering and product development, we need more experience in market reach and business approach."

SCCG will help develop the different sports solutions from Ronin Sport to fit the US market operators. They strive to perfect data and continually update and correct information in the tv guide solutions that have gotten Ronin Sport to an international level when it comes to new countries.

One of the most accessible B2B solutions Ronin Sport provide is an integrated section on a digital sports service. It can be a media site, a sports odds comparison site, or a sportsbook. At the next level, Ronin can integrate a variety of solutions, for example, sports books or betting platforms.

About Ronin Sport

The business started in January 2020. The Founding team has worked for 20 years of experience in the digital media industry and sports in particular. The business idea is to provide solutions to answer: "When and where Live Sports is sent on TV." The offering offers live TV and streaming data on several countries' wide range of sports. The platform is flexible and robust and offers built-in affiliate business models. The main B2B clients are companies in media and iGaming and offer a fully customizable sports section to help them attract and retain a broad sport interested audience

About SCCG Management

SCCG Management is a consultancy that specializes in sports betting, iGaming, sports marketing, affiliate marketing, technology, intellectual property protection, product commercialization, esports, capital formation, M&A, joint ventures, casino management, and governmental and legal affairs for the casino and iGaming industry.

SCCG Management celebrates 2022 as its 30th Anniversary of leadership and innovation for the gaming industry.

For more information, visit https://sccgmanagement.com.

Contact:
Stephen A. Crystal, SCCG Management
Mobile/WhatsApp: +1 702-427-9354
Email: Stephen.Crystal@sccgmanagement.com
Social Media: https://www.linkedin.com/company/sccg-management

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSCCG Management CEO and Founder Stephen Crystal announced a partnership with the international digital media provider Ronin Venture, a leading provider of TV sports data branded under the name Ronin Sport.

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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