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JUN
04
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BOCI Securities Limited Signed Agreement with AQUMON to Develop Robo Advisory Platform

HONG KONG, June 4, 2020 /PRNewswire/ -- Robo advisors provide customers with easy access to digital investment advices, by combining systematic investment algorithms with scalable technology platforms. As Hong Kong's leading robo advisory solution provider, AQUMON is proud to announce that an agreement has been reached with BOCI Securities Limited on one of the first robo advisors in Hong Kong*.

The new platform analyzes the risk profiles, investment backgrounds, and preferences of clients to generate portfolio recommendations. The portfolio will allow clients to achieve their investment objectives by providing access to a wide range of asset classes globally via diversified portfolios. Clients will be able to subscribe, monitor, and rebalance their investment portfolios one-stop in the robo advisory platform, which will be embedded in the BOCI platform.

As much as how the COVID-19 pandemic has impeded the development of many traditional business activities, robo advisors have gained growth with the industry's digitization trend. Earlier this year, AQUMON has partnered with one of the largest insurers in Hong Kong to digitize its investment-linked product.

BOCI was one of the first investment banks established in China and is one of the biggest and strongest China-invested banks in overseas markets. BOCI has a leading position in the Hong Kong capital market in terms of overall competitiveness, thanks to its comprehensive cross-border investment banking services platform that ranks at the forefront among Chinese investment banks, and to its internationalized investment banking framework that upholds best practices in the industry. 

This robo advisory offering is provided by AQUMON, a financial technology company incubated at the Hong Kong University of Science and Technology. AQUMON has partnered with more than 60 financial institutions in Hong Kong and beyond, including AIA, CMB Wing Lung Bank, ChinaAMC, and Guangzhou Rural Commercial Bank. AQUMON's early investors include the Alibaba Entrepreneurs Fund, affiliate of BOC International Holdings Limited, and the Hong Kong University of Science and Technology. AQUMON has also recently procured a new round of funding from Lenovo Capital, and Cyberport.

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JUN
04
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Airwallex Helps Merchants Expand into Asian Marketplace with New Wechat Pay Solution

MELBOURNE, Australia, June 4, 2020 /PRNewswire/ -- Global fintech leader Airwallex has launched a new payment acceptance service in Australia, Hong Kong and Singapore with WeChat Pay, allowing merchants to add WeChat Pay as an additional payment option on their e-commerce platform. The new offering will provide merchants global access to over 800 million Chinese consumers on WeChat Pay, enabling them to tap into a key Asian marketplace of active shoppers. 

WeChat is one of the largest social media platforms in the world with 1.2 billion monthly active users, and its pay function (WeChat Pay) allows its users to seamlessly make payments in their local currency for their purchases. WeChat Pay handles over one billion transactions globally daily, demonstrating the regular spending habits of its users. 

Airwallex's WeChat Pay solution is designed to ensure smooth and fast flows of funds from buyers to the merchants. Payments made by the buyers in Chinese Yuan or Hong Kong Dollar (for Hong Kong users) are received by Airwallex and converted to the merchants' currency of choice within two business days. 


On the Airwallex platform, merchants can view, track and manage their WeChat Pay transactions, download settlement reports, as well as issue refunds to deliver a seamless customer experience. Airwallex is currently working on additional features such as a data analytics tool which will provide important business insights on WeChat Pay payments to help merchants tailor their strategies, and boost their sales. 

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JUN
04
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China Jo-Jo Drugstores Announces the Closing of $10 Million Registered Direct Offering

HANGZHOU, China, June 4, 2020 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) (the "Company" or "China Jo-Jo"), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced that it closed its previously announced registered direct offering with certain institutional investors for an aggregate of 5,000,004 shares of the common stock, at a purchase price of $2.00 per share, for aggregate gross proceeds of approximately $10 million to the Company. In a concurrent private placement, the Company issued to the same investors unregistered warrants to purchase up to an aggregate of 3,750,003 shares of the common stock at an exercise price of $2.60 per share. The warrants shall be exercisable six months following issuance and expire five and one-half years from the issuance date.

The Company received net proceeds from the offering in the amount of approximately $9.24 million, after deducting the placement agent fees and the estimated offering expenses payable by the Company.

H.C. Wainwright & Co., LLC acted as exclusive placement agent for the offering.

The shares of common stock described above (but not the warrants or the shares of common stock underlying the warrants) were offered pursuant to a "shelf" registration statement on Form S-3 (File No. 333-230686), which was declared effective by the United States Securities and Exchange Commission (the "SEC") on April 10, 2019. The shares of common stock were offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the final prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained at the SEC's website at http://www.sec.gov. Electronic copies of the prospectus supplement and accompanying prospectus relating to the registered direct offering may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone (646) 975-6996 or e-mail This email address is being protected from spambots. You need JavaScript enabled to view it..

The warrants described above were offered in a private placement pursuant to an applicable exemption from the registration requirements of the Securities Act of 1933, as amended (the "Act"), and, along with the shares of common stock issuable upon their exercise, have not been registered under the Act, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.

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JUN
03
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Companies can Now Sign Legally Binding Documents on Live Video Calls

AUCKLAND, New Zealand, June 3, 2020 /PRNewswire/ -- A new live video signing feature protects companies against fraud and contract disputes while maintaining social distancing.

Secured Signing's Video Signing all-in-one platform
https://www.youtube.com/watch?v=2Z0kzDfIJe0

Secured Signing, one the world's most trusted digital signature providers, today launched live Video Signing. This gives companies the power to sign legally binding documents on a video call.

Mike Eyal, the Managing Director of Secured Signing, said data showed companies were shifting more of their work online due to COVID-19. This shift has been driven by many countries updating their electronic signatures acts to allow documents to be signed and witnessed over video calls.     

"What we are now seeing is that COVID-19 is changing everything about how most businesses operate. There is a sharp rise in remote work, and companies are no longer able to meet in person to witness and sign contracts. With Secured Signing Video Signing, the entire signing process takes place on a live video call."

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JUN
03
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Future FinTech Released its 2019 Financial Results and Filing of 10-K

BEIJING, June 3, 2020 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT), a leading blockchain e-commerce and financial technology company, today announced that it had filed its annual report on Form 10-K for the year ended December 31, 2019 with the U.S. Securities and Exchange Commission.

Fiscal Year 2019 Results

Revenue for the fiscal year 2019 increased 8% to $0.96 million compared to $0.89 million for the fiscal 2018. The increase in revenue was mainly due to an increase in sales and membership fee through the E-commerce business which started operating at the end of 2018.

Operating expenses decreased 93% to $13.43 million in 2019 from $190.43 million in 2018 . The operating expenses for the discontinued operation was $6.19 million for fiscal year 2019. The significant decrease in operating expenses were primarily due to Future FinTech transforming its focus to a real-name  blockchain based shared shopping mall platform, Chain Cloud Mall ("CCM")from its traditional juice manufacturing and distribution business, which suffered  heavy losses in previous years.

The loss from operations for fiscal 2019 was $12.94 million, as compared to $190.52 million for fiscal 2018.

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JUN
03
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Trade Finance Fintech Stenn Extends and Upsizes Core Finance Programme to $500 Million With New Major Investors

LONDON, June 3, 2020 /PRNewswire/ -- Online trade finance scale-up Stenn has secured participation from Barclays Bank, Coface SA, and Crayhill Capital Management LP in its latest investment round. The funding is for its core trade financing programme, Stenn Assets Funding, now sized at half a billion dollars.

The two investors and the insurance provider have joined Stenn's award-winning financing programme, alongside existing financing providers Natixis, which is also the arranger of the programme, NN Investment Partners, and M&G. The investment supports Stenn's continued growth in the field of cross-border trade finance and comes on the back of the European Structured Finance Deal of the Year 2020 award from International Financial Law Review.

Second funding round in one month to help companies during the Covid-19 crisis.

The latest investment round is the second in less than a month for Stenn. The company closed a new $200 million programme on May 11 from Crayhill, a New York-based private credit manager and asset-based lender, in order to expand its digital trade finance services and further support companies in boosting their international trade flows. 

With this added capacity, Stenn is positioned to offer greater numbers of businesses access to fast and flexible cross-border trade finance at a time when working capital is critically scarce.

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JUN
03
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360 Finance Among First Wave of Companies to Register its Financial Services App with China's NIFA

BEIJING, June 3, 2020 /PRNewswire/ -- 360 Finance, Inc. (NASDAQ: QFIN) ("360 Finance" or the "Company"), a leading digital consumer finance platform, today announced that its mobile application "360 Jietiao" was among the first batch of financial services apps from 33 companies to complete registration and file records with the National Internet Finance Association of China ("NIFA"), the national self-regulatory body for China's internet finance industry backed by People's Bank of China (PBOC).

360 Finance was one of the first companies to submit registration documents and receive a "FinTech Product Certification", a key credential needed for app registrations launched by the PBOC, as Chinese regulators tighten scrutiny of mobile apps operated by financial institutions amid growing public concern over personal data collection.

As a financial services app with an extensive user base, 360 Jietiao capitalizes on the expertise gained through Qihoo 360's decades of technology development in the internet security sector. 360 Finance has established a strict code of conduct within its privacy policy to protect systems against data theft. The Company has adopted an AI-driven protocol that effectively safeguards personal information from any human intervention.

Mr. Haisheng Wu, Chief Executive Officer and Director of 360 Finance, commented, "Regulators are cracking down in order to further protect consumers and have put in place a series of rules to strengthen personal data protection. As a company with strong cyber security capabilities in our DNA, 360 Finance places a high priority on providing robust data privacy protections and will never collect data without users' consent. We have a strict code of conduct that guides our business operations and employee behaviors and we have a technology-driven infrastructure in place that secures our systems. We will spare no effort in safeguarding personal information."

PBOC issued the notice on the promulgation of financial industry standards and the enhancement of mobile app security in September 2019, and designated NIFA to carry out the registration process. NIFA has required traditional financial institutions and fintech companies to submit self-inspection reports on their financial services apps and approved a list of apps which are in full compliance with the law. Industrial and Commercial Bank of China, China Construction Bank and Ant Financial are also among the first companies to complete the registration and receive a certification.

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JUN
03
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Vymo Launches Manager Experience (MeX) to Drive Preemptive Interventions and Improve Sales Outcomes by Over 200%

Vymo Launches Manager Experience (MeX) to Drive Preemptive Interventions and Improve Sales Outcomes by Over 200%

 

BANGALORE, India and SINGAPORE, June 3, 2020 /PRNewswire/ -- Vymo, a pioneer in Sales Automation and Intelligence solutions for distributed sales teams has launched the Vymo Manager Experience (MeX), an upgrade on its Personal Sales Assistant app, focused on enabling managers to drive proactive interventions.


Vymo MeX Experience

Currently being piloted with some of the largest financial services companies in the World, MeX has enabled sales teams to sell 2x more policies and collect 320% more premiums. The solution has also reduced turnaround time for customers by 70-75%.

Combining Vymo's cutting edge features on sales activity capture and nudge intelligence, Vymo Manager Experience (MeX) enables:

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JUN
03
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China Online Education Group Announces Proposed Follow-on Public Offering of American Depositary Shares

BEIJING, June 3, 2020 /PRNewswire/ — China Online Education Group ("51Talk" or the "Company") (NYSE: COE), a leading online education platform in China, with core expertise in English education, today announced the commencement of a proposed registered underwritten public offering by the Company and certain selling shareholders of American depositary shares (the "ADSs"), each representing fifteen (15) Class A ordinary shares of the Company. The Company proposes to offer 428,571 ADSs (the "Primary ADS Offering"), and the selling shareholders propose to offer 1,000,000 ADSs (the "Secondary ADS Offering" and, together with the Primary ADS Offering, the "ADS Offering"). The underwriters in the ADS Offering will have a 30-day option to purchase up to 214,285 additional ADSs from the Company and certain selling shareholders solely for the purpose of covering overallotment.

Morgan Stanley & Co. LLC and Needham & Company, LLC are acting as the joint book-running managers for the ADS Offering.

The ADSs will be offered pursuant to the Company's shelf registration statement on Form F-3 (the "Form F-3"), as amended, which was originally filed with the U.S. Securities and Exchange Commission (the "SEC") on April 6, 2020 and became effective on May 8, 2020. A preliminary prospectus supplement related to the proposed ADS Offering will be filed with the SEC. The Form F-3 and the preliminary prospectus supplement will be available at the SEC website at: http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained from (1) Morgan Stanley & Co. LLC, Prospectus Department, 2nd Floor, 180 Varick Street, New York, NY, 10014, United States of America, or by calling 1-866-718-1649, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; (2) Needham & Company, LLC, Attention: Syndicate Prospectus Department, 250 Park Avenue, 10th Floor, New York, New York 10177, or by calling 800-903-3268, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

This announcement shall not constitute an offer to sell, or a solicitation of an offer to buy, any securities, nor shall there be any offer, solicitation or sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

This press release contains information about the pending offering of the ADSs, and there can be no assurance that the offering will be completed.

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JUN
02
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Ping An: China's SMEs Amid the Pandemic Are Facing Cash Flow Problems

HONG KONG and SHANGHAI, June 2, 2020 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEx:2318; SSE:601318) announces that according to the SME Financing Report Series issued by Fudan-Ping An Research Institute for Macroeconomy (hereafter the "Institute") under Ping An Digital Economic Research Center and the School of Economics, Fudan University, China's micro, small and medium-sized enterprises amid the pandemic are facing cash flow problems and awaiting government aid.

This SME Financing Report Series focuses on the problems facing micro, small and medium-sized enterprises (MSMEs) amid the COVID-19 pandemic, and makes mid- to long-term recommendations based on predictions of macroeconomic trends.

MSMEs are crucial to China, contributing 60% of GDP and providing 80% of urban employment. Due to the pandemic, Chinese MSMEs are facing cash flow problems. Despite the introduction of a series of financial support policies, small and medium-sized banks are facing the dual challenges of rising ratios of non-performing loans and narrowing net interest margins when they extend credit to small and micro enterprises. However, the current predicament provides an opportunity for using big data, artificial intelligence (AI) and other technologies to solve the financing problems facing MSMEs.

China's GDP growth rate will hit a 40-year low in 2020 with an annual growth rate ranging from -1.5% to 3%.

Under the coronavirus pandemic, more than 100 nations around the world have taken quarantine, social distancing, and lockdown measures, which have a huge impact on the global economy. Considering the pre-pandemic economic growth slowdown and the impact of COVID-19, China's GDP is expected to grow at a rate of -1.5% to 3% for 2020, a 40-year low. In the long run, with the pandemic and deglobalization, global trade may give way to intraregional trade, multilateral trade to bilateral trade, and international trade to domestic trade. China's current and future macroeconomic performance will be dragged down mainly by global supply chain shocks and shrinking external demand.

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