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BEIJING, Sept. 1, 2021 /PRNewswire/ — Luokung Technology Corp. (NASDAQ: LKCO) (“Luokung” or the “Company”), a leading spatial-temporal intelligent big data services company and provider of interactive location-based services (“LBS”) and high-definition maps (“HD Maps”) in China, today made available the following open letter to shareholders from Mr. Xuesong Song, the Company’s Chairman and CEO, regarding Luokung’s business strategy and outlook for 2021 and beyond:

To all of Luokung’s shareholders,

It has been a monumental year for our Company. From an operational perspective we continued to build on our proprietary technologies and expertise in HD Maps and related intelligent spatial-temporal big data. We have achieved several milestones over the last few years, the most recent being the completion of the eMapgo Technologies (Beijing) Co., Ltd. acquisition earlier this year. At our core, we are a technology-driven company that focuses on services and applications of spatial-temporal AI big data. We have established a leading position in HD Maps, Internet of Things (“IoT”), intelligent big data, autonomous driving, smart transportation, vehicle-road collaboration (V2X), carbon neutrality and remote sensing data services. This is what drives our 700+ employees every day, improving our value proposition for our global customer base while creating value for our partners and the world.

My hope with this letter is to provide a picture of Luokung’s business and vision, while initiating a more open line of communication with investors going forward.

Spatial-temporal data combines the dimensions of time and space, and more than 80% of data in the world is related to geographic location. With the rapid development of Internet of Things, smart robots, smart wearable devices and various sensors, almost all newly added massive data are spatial-temporal data, and more than 95% of all data in the future will be spatial-temporal data as it is multi-sourced, massive, heterogeneous, and updated in real time. Luokung discovers and creates greater value in spatial-temporal data, and through intelligent services, we believe that we continue to enhance value for our customers and society. Our mission is to build intelligent communities with our spatial-temporal AI capabilities.

Built upon 3D HD Maps, a spatial-temporal digital AI base supports multi-sourced heterogeneous data interaction, integrates big data AI computing, Geo AI, blockchain and other technologies to realize spatial-temporal intelligence, serving smart applications in different industries with an eventual goal of establishing a digital twin system. A digital twin is a virtual representation that serves as the real-time digital counterpart of a physical object or process. This is the core and critical underlying architecture of Luokung. Based on this underlying architecture and the thematic elements of various industry applications, the Company forms its exclusive intelligent application platforms and products in different industries.

The core strategy behind Luokung’s products, technologies and services is centered around three pillars: smart transportation, carbon-neutral and natural resource management services and Internet LBS and intelligent industrialized applications—”Luokung’s Three Pillars.” Luokung’s various product and service applications originate from Luokung’s three-pillar business model, focusing on an AI spatial-temporal digital base. We continue to improve the capabilities of the digital base to better support industry smart applications. At the same time, ever-expanding and continuous intelligent industry applications are actively feeding a more powerful digital base. This flywheel effect helps us to continuously optimize, deepen and expand our services to customers, increasing our value proposition.

Our Business Strategy

The first pillar of smart transportation: Luokung believes that road-to-vehicle coordination is the keystone for smart travel and autonomous driving in the future. Therefore, smart cars require smart roads. Luokung is actively deploying smart solutions for both vehicles and roads.

For vehicles, Luokung is supporting eMapgo’s position as a leading HD Map provider with continued investment in its technical R&D in the fields of autonomous driving data services, simulation services, and full-cognition AI services with a goal of continuing to optimize, deepen and expand services for automakers and top-tier autonomous driving firms. We have led the development of the industry standard for “Autonomous Driving HD Map Collection Element Model and Interaction Format”, and eMapgo will continue to play an active leading role in setting industry standards in the near future. This is not only a testament of the industry’s trust and recognition of eMapgo’s capabilities in autonomous driving HD map related data services but also proof of our intellectual contributions and experience in the field of data services as it relates to autopilot HD maps.

For roads, Luokung is actively promoting smart road services based on its spatial-temporal digital base, including but not limited to HD Map-based smart road AI digital base, 24/7 road hazard awareness, severe weather perception and other road information data perception service systems and smart management platforms. With these efforts, Luokung aims to assist expressway operators in managing their digitized assets more securely and efficiently and to achieve vehicle-to-road data communication where vehicles can digitally receive roadside information that affects safety, convenience and comfort in real time. We are providing similar smart digital services for China’s new generation smart transportation demonstration project-Changjiu Expressway, a project that showcases our respected position in the field of smart highways.

Luokung Datong’s severe weather perception service system is a perfect example of our smart road products. It provides meter-level accurate, real-time road visibility reports through its own intellectual property-video stream intelligent analysis technology during low-visibility weather, helping expressway operation managers to close and open the road in a timely manner and ensure the safe passage of the expressway. We deployed a one-year pilot project for 400 kilometers of expressways in Jiangsu Province. During the period, the 400 kilometers of expressways remained open for an additional 180 hours throughout the year, compared to during manual visibility observation periods. The additional 300,000 vehicles that utilized the expressway this year has directly increased the income of expressway operators. At the same time, high passability enables various types of vehicles to save travel time, improve their efficiencies and create more commercial value and social benefits. This is just one of many examples of Luokung’s intelligent road system products, one that exemplifies Luokung’s mission and vision: to create value through technology and create value for customers.

So far in 2021, we have increased investment in intelligent big data computing for Internet of Vehicles, providing safe, convenient, comfortable, and economical services on different roads for assisted driving and L4 autonomous driving in different driving modes. With established advantages in autonomous driving, we anticipate a gradual entry into the field of autonomous driving decision-making services through Internet of Vehicles, big data, AI and machine learning, broadening and deepening our product and service applications.

So far in 2020, the number of newly registered cars in China was 24.24 million, and the number of vehicles in possession was 281 million. At the end of 2020, the total mileage of highways in China was about 160,000 kilometers.

The second pillar of Luokung’s business strategy is carbon neutrality remote sensing data services. Although Luokung’s AI spatial-temporal big data services do not directly solve the issue of carbon emissions, we believe that our data service helps policymakers, industry regulators and market service participants monitor real situation and data changes, in their efforts to reduce carbon emissions and to serve as an important digital base for carbon emission trading. We believe that Luokung has established China’s most powerful remote sensing data engine that integrates high-resolution remote sensing, HD maps and various IoT sensor data, enabling us to launch the most efficient remote sensing data processing service. This offering addresses a broader market focus on industrial applications in carbon emission, carbon neutrality, geographical resources, forestry resources, water resources, crops and others, a marketplace we define as a carbon neutrality natural resource asset service business. In the future, we believe remote sensing data services in related fields will be accompanied by the implementation of a global carbon neutral strategy, which would present a significant market opportunity for our Company.

The third pillar of our business strategy is Internet LBS and related smart industry services. This is Luokung’s AI spatial-temporal big data services based on our digital base in Internet applications and modern logistics, supply chain, urban transportation, emergency rescue, smart industrial parks, smart cities and other applications. Luokung’s spatial-temporal digital base incorporates Luokung Super-Engine’s multiple vector data-related patented technologies, diversified heterogeneous data fusion, massive data processing, different data software interface services and others, with extremely high levels of data processing efficiency, compatibility and application capabilities.

For LBS smart industry applications, Luokung’s digital base integrates our Internet LBS business with IoT data and business operation data to provide personalized industry smart application services for various industry needs.

The Company has launched a series of LBS B2B services and products for different industry applications in order to integrate the operating assets of different industries and real-time business operation data and behaviors on personalized two-dimensional and three-dimensional standard maps and HD maps. Real-time dynamic presentation and big data algorithms help customers manage related businesses and implement services to more easily and conveniently achieve business goals. We have launched a series of products and services in the fields of Internet location marketing, travel services, urban logistics and distribution, smart city, urban transportation, smart industrial parks and emergency rescue. As Luokung’s business focus is not B2C services, our brand awareness and impact on the public market could greatly affect the LBS services business. As a result, Luokung has taken the approach of personalizing services at the initial phase of company expansion. This has enabled the Company to establish a service platform for sub-industries. We plan to continue to pursue our B2B strategy and form a powerful and open multi-industry-level LBS service platform through continuous industry customization, with the hope of becoming the largest and best LBS in China.

Smart industry application services involve a wide range of market segments, some of which Luokung has not yet entered. We are, however, actively building and developing an ecological partnership network, relying on our partners’ deep understanding of the segmented industries and growing markets to carve a smooth entry into the different application fields of industries. At the same time, spatial data services have high barriers to entry in terms of technology, market access, data accumulation and others. We are committed to supporting our partners and combining our strengths to create value for both parties.

Smart transportation, carbon neutrality natural resource asset management, Internet LBS and smart industry applications are the three pillars of Luokung’s business model, focusing on the core spatial-temporal AI big data. Luokung believes that as a company it is leading these trends.

Data Security and Regulatory Compliance

Data has been a crucial but sensitive topic for Luokung. As a data service provider, Luokung has made it a priority to operate its business while maintaining compliance with all applicable laws and regulations. We are also using technological innovation to ensure security and compliance of data services while protecting the data rights of our clients. This is the source of confidence and the reason behind our clients’ long-term trust in Luokung.

Luokung’s B2B business model includes PaaS (Platform as a Service), DaaS (Data as a Service), and SaaS (Software as a Service) services. For the commercial spatial-temporal big data services we provide, customers are offered hybrid cloud solutions that support the private deployment of all customer service data in an intranet environment to maximize data security. In the first quarter of 2021, Luokung invested in the research and development of blockchain technology and expects to launch a new solution for geographic information data security (data security in spatial temporal data collection, storage, calculation, application and others). We plan to launch a new data service based on blockchain technology by the end of 2021 to provide Luokung and our partners with higher levels of information security protection and more efficient data security services.

Resolution of the DoD Designation Matter

On January 15, 2021, our Company was surprised to be included on a letter that prohibited U.S. domiciled shareholders from purchasing our common stock beginning on a certain date, as the Company was designated as a Communist Chinese Military Company (“CCMC”) on Executive Order 13959, which included a list of CCMCs released by the U.S. Department of Defense (“DoD”). We are not a state-owned enterprise. While we are based in and conduct the entirety of our business within China, Luokung is not affiliated with the Chinese military.

After months of uncertainty, we received a favorable conclusion on this matter in June 2021. The DoD removed the Company’s designation as a CCMC, and Luokung and its shareholders are no longer subject to any restrictions pursuant to Executive Order 13959, as amended. The DoD considers this matter closed.

Today, we are very pleased to put these concerns behind us, allowing us to fully focus on our business. Throughout this period, we remained committed to executing on the Company’s business strategy and completed the acquisition and integration of eMapgo. Under the leadership of our management team, we persisted and continued working to fulfill Luokung’s mission and vision, and to create value for our shareholders.

On behalf of the Company, I would like to extend our heartfelt gratitude to every loyal shareholder that stood by us, reached out with suggestions and well wishes and defended us on social media. We would also like to extend our thanks to all our legal, market and communications advisors for their efforts during this period. The successful resolution of this matter would not have been possible without everyone involved.

Outlook for 2021 and Next Steps

Our goal for the remainder of the year is to lay the foundation for our longer-term goals in the years ahead.

2021 has been an important and monumental year for Luokung. We are in a strong capital position to expand our current business operations, having raised US$120 million in financing and gaining recognition and support from institutional investors in early 2021. We completed the acquisition eMapgo, integrating their operations and personnel with that of Luokung. We enhanced our technology and built out our R&D team to further support the development of our self-driving perception algorithm, AI image calculation, blockchain technology, Internet of Vehicles big data AI algorithm and application services and LBS platform services. All of these developments have bolstered Luokung’s three-pillar business model with the launch of related multi-line products, which were well received by our clients as demonstrated by our new contract wins. Luokung remains confident in its ability to gain market share through additional contract wins in the remainder of 2021.

As a foreign private issuer, Luokung is required to furnish or file with the U.S. Securities and Exchange Commission (“SEC”) two public reports, one for its year-end and another for the half-year period. Our fiscal year ends on December 31, 2021, and we will provide comprehensive data in our Annual Report on Form 20-F. We expect to furnish the semi-annual report for 2021 to the SEC in the next two months. Going forward, we expect to issue more regular updates on financial metrics including sales and margin progression to provide greater visibility into our business.

We are pleased to have achieved significant growth so far in 2021, reflected by the preliminary financial results we released last week. Based on our preliminary data, Luokung realized record total revenue of approximately $37.8 million in the first half of 2021, an increase of 417.8% year over year from $7.3 million in the first half of 2020, and an increase of 345% from $11 million in the second half of 2020. For greater detail, investors should refer to the soon-to-be-released semi-annual financial report. We believe that the significant top line growth is attributable to the large and fast-growing spatial-temporal data service industry in China and is also a testament to Luokung’s growth strategy.

We will continue to evaluate potential high-value M&A opportunities that could strengthen our competitive position in the three pillars of our business, particularly in the areas around autonomous vehicles and the progression of this market.

Our Responsibility

As management, we believe that it is our responsibility to provide transparent and open communication to shareholders, and to operate our business in an honest and proactive manner. Our goal is to release regular updates on our activities, commensurate with what is expected of a public company, and to listen to feedback our shareholders provide.

On behalf of our board of directors and management team, I would like to thank you for your continued trust and interest in Luokung. We thank you for your ongoing support, which has enabled us to expand our business model. We are aligned in our desire to see Luokung succeed in its global growth initiatives, and Luokung will continue to work enthusiastically for the realization of our vision.

Thank you.

Mr. Xuesong Song,
Chairman and CEO

For a current review of the Company and a copy of this letter, management invites you to visit the Company’s website: www.luokung.com.

About Luokung Technology Corp.

Luokung Technology Corp. is a leading spatial-temporal intelligent big data services company, as well as a leading provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies and expertise in HD Maps and related intelligent spatial-temporal big data, Luokung established city-level and industry-level holographic Spatial-temporal digital twin systems and actively serves industries including smart transportation (autonomous driving, smart highway and vehicle-road collaboration), natural resource asset management (carbon neutral and environmental protection remote sensing data service), and LBS smart industry applications (mobile Internet LBS, smart travel, smart logistics, new infrastructure, smart cities, emergency rescue, among others). The Company routinely provides important updates on its website: www.luokung.com/en. 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding our or our management’s expectations, hopes, beliefs, intentions or strategies regarding the future and other statements that are other than statements of historical fact. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “probable”, “potential”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination and analysis of the existing law, rules and regulations and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you the statement herein will be accurate. As a result, you are cautioned not to rely on any forward-looking statements.

CONTACT:

The Company:

Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-5327-4727
Email: [email protected]

Investor Relations:

Ms. Carolyne Sohn
Vice President
The Equity Group Inc.
Tel: 415-568-2255
Email: [email protected]

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SOURCE Luokung Technology Corp.

DEERFIELD, Ill., Sept. 1, 2021 /PRNewswire/ — Caterpillar Inc. (NYSE: CAT) Group President of Resource Industries Denise Johnson is expected to participate in a fireside chat and Q&A session at MINExpo on Wednesday, September 15, 2021. Themed “Together, we’re mining better,” Caterpillar’s MINExpo 2021 experience celebrates the company’s partnership with mines and the ways it assists customers to mine more efficiently, effectively, safely and sustainably. Ms. Johnson is scheduled to speak for 45 minutes, beginning at approximately 9:30 a.m. PT. This virtual event will be hosted by Nicole DeBlase of Deutsche Bank.

The event is expected to be webcast in real-time and available to the public at https://event.on24.com/wcc/r/3360499/6D0385B9F3461FB99BC8584AF95A0DD3.     

Listeners should go to the investor relations website at least 30 minutes before the live event to register and to download and install any necessary audio software. The webcast will be available for replay for at least 90 days. A transcript is anticipated to be posted afterward on Caterpillar’s investor relations website, https://investors.caterpillar.com/events-presentations/default.aspx.

About Caterpillar
With 2020 sales and revenues of $41.7 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Since 1925, we’ve been driving sustainable progress and helping customers build a better world through innovative products and services. Throughout the product life cycle, we offer services built on cutting-edge technology and decades of product expertise. These products and services, backed by our global dealer network, provide exceptional value to help our customers succeed. We do business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries, and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/social-media.

 

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SOURCE Caterpillar Inc.

LOS ANGELES, Sept. 1, 2021 /PRNewswire/ — The DoubleLine Opportunistic Credit Fund (the “Fund”), which is traded on the New York Stock Exchange under the symbol DBL, this week declared a distribution of $0.11 per share for the month of September 2021. The distribution is subject to the following ex-dividend, record and payment dates set by the Fund’s Board of Trustees.

This news release is not for tax reporting purposes. The release has been issued to announce the amount and timing of the distributions declared by the Board of Trustees. There is a possibility that distributions may include ordinary income, long-term capital gains or return of capital. The amount of distributable income and the tax characteristics of the distributions are determined at the end of the taxable year. In early 2022, the Fund will send shareholders a Form 1099-DIV specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return.

About DoubleLine
Opportunistic Credit Fund

The DoubleLine Opportunistic Credit Fund (the “Fund”) is a diversified, closed-end management investment company. The Fund’s investment objective is to seek high total investment return by providing a high level of current income and the potential for capital appreciation. There is no guarantee that the Fund will achieve its investment objective. Investing in the Fund involves the risk of principal loss.

About DoubleLine Capital LP

DoubleLine Capital is an investment adviser registered under the Investment Advisers Act of 1940. DoubleLine’s offices can be reached by telephone at (213) 633-8200 or by e-mail at [email protected]. Media can reach DoubleLine by e-mail at [email protected]. DoubleLine® is a registered trademark of DoubleLine Capital LP.

To read about the DoubleLine Opportunistic Credit Fund, please access the Annual Report at www.doublelinefunds.com or call 877-DLINE11 (877-354-6311) to receive a copy. Investors should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. An investment in the Fund should not constitute a complete investment program.

This document is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale or offer of these securities, in any jurisdiction where such sale or offer is not permitted.

Fund investing involves risk. Principal loss is possible.

Shares of closed-end investment companies frequently trade at a discount to their net asset value, which may increase investors’ risk of loss. This risk may be greater for investors expecting to sell their shares in a relatively short period after the completion of the public offering. There are risks associated with investment in the fund.

Investments in debt securities typically decline in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments.

Past performance is no guarantee of future results. The fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. Investments in lower rated and non-rated securities present a great risk of loss to principal and interest than higher rated securities. Investment strategies may not achieve the desired results due to implementation lag, other timing factors, portfolio management decisions-making, economic or market conditions or other unanticipated factors. In addition, the Fund may invest in other asset classes and investments such as, among others, REITs, credit default swaps, short sales, derivatives and smaller companies which include additional risks.
The DoubleLine Opportunistic Credit Fund (the “Fund”) is a diversified, closed-end management investment company.

This material may include statements that constitute “forward-looking statements” under the U.S. securities laws. Forward-looking statements include, among other things, projections, estimates, and information about possible or future results related to the Fund, market or regulatory developments. The views expressed herein are not guarantees of future performance or economic results and involve certain risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially from the views expressed herein. The views expressed herein are subject to change at any time based upon economic, market, or other conditions and DoubleLine undertakes no obligation to update the views expressed herein. While we have gathered this information from sources believed to be reliable, DoubleLine cannot guarantee the accuracy of the information provided. Any discussions of specific securities should not be considered a recommendation to buy or sell those securities. The views expressed herein (including any forward-looking statement) may not be relied upon as investment advice or as an indication of the Fund’s trading intent. Information included herein is not an indication of the Fund’s future portfolio composition.

Distributions include all distribution payments regardless of source and may include net income, capital gains, and/or return of capital (ROC). ROC should not be confused with yield or income. A Fund’s Section 19a-1 Notice, if applicable, contains additional distribution composition information and may be obtained by visiting www.doublelinefunds.com. Final determination of a distribution’s tax character will be made on Form 1099 DIV and sent to shareholders. On a tax basis, as of April 30, 2020, the most recent available figure, the estimated component of the cumulative distribution for the fiscal year to date would include an estimated return of capital of $0.000 (0%) per share. This amount is an estimate and the actual amounts and sources for tax reporting purposes may change upon final determination of tax characteristics and may be subject to changes based on tax regulations.

Any tax or legal information provided is merely a summary of our understanding and interpretation of some of the current income tax regulations and is not exhaustive. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Fund nor any of its representatives may give legal or tax advice.

Quasar Distributors, LLC provides filing administration for DoubleLine Capital LP.

©2021 DoubleLine Capital LP.

 

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SOURCE DoubleLine

SAN JOSE, Calif., Sept. 1, 2021 /PRNewswire/ — QuickLogic Corporation (NASDAQ: QUIK), a developer of ultra-low power multi-core voice-enabled SoCs, embedded FPGA IP, and Endpoint AI solutions, today announced that it has won a $2 million eFPGA Contract.

The revenue for the contract is expected to be recognized during the second half of fiscal 2021. The third quarter fiscal 2021 revenue guidance range and outlook for fiscal 2021 growth previously provided during the Company’s financial results conference call on August 17, 2021 is unchanged. 

This new Contract is the direct result of the Company’s groundbreaking QORC (QuickLogic Open Reconfigurable Computing) initiative that it launched in June 2020.  With the initiative, QuickLogic became the first programmable logic vendor to actively embrace a fully open-source suite of development tools and design methodologies for its FPGA devices and eFPGA technology.  This initiative engenders the emerging trend toward open-source tooling, significantly broadens access to the company’s products, and enables hardware and software developers with tools supported by both the user community and QuickLogic.

Prior to selecting QuickLogic for this project, the customer performed an extensive evaluation of programmable logic companies.  

“We are honored and pleased that this customer has chosen QuickLogic as its eFPGA partner,” said Brian Faith, President and CEO of QuickLogic. “Our deep domain expertise, proven track record in delivering high quality programmable logic devices, eFPGA IP and FPGA User Tools combined with our strategic QORC open-source initiatives, make QuickLogic the ideal partner.  We look forward to enabling our customer’s visionary products and ambitious timelines.”

About QuickLogic

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that develops low power, multi-core semiconductor platforms and Intellectual Property (IP) for Artificial Intelligence (AI), voice and sensor processing. The solutions include embedded FPGA IP (eFPGA) for hardware acceleration and pre-processing, and heterogeneous multi-core SoCs that integrate eFPGA with other processors and peripherals. The Analytics Toolkit from our recently acquired wholly owned subsidiary, SensiML Corporation, completes the end-to-end solution with accurate sensor algorithms using AI technology. The full range of platforms, software tools and eFPGA IP enables the practical and efficient adoption of AI, voice and sensor processing across mobile, wearable, hearable, consumer, industrial, edge and endpoint IoT. For more information, visit www.quicklogic.com and www.quicklogic.com/blog.

The QuickLogic logo and QuickLogic are registered trademarks of QuickLogic Corporation. All other brands or trademarks are the property of their respective holders and should be treated as such.

CODE: QUIK-E

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SOURCE QuickLogic Corporation

BOCA RATON, Fla.
, Sept. 1, 2021/PRNewswire/ — Sunbeam®, a leader in pain relief products, is collaborating with the U.S. Pain Foundation for its #PainCounts initiative. The U.S. Pain Foundation seeks to raise awareness on the critical issues facing 50 million Americans living with chronic pain this September during Pain Awareness Month. This initiative will show the devastating burden of chronic pain and the impact it has on real people.

“Sunbeam is focused not only on developing innovative heated and cold pain relief solutions, but also inspiring people to live life well.” said Lauren Albeck, Brand Marketing Manager, Sunbeam. “Our focus this Pain Awareness Month is all about raising public awareness of the problem of chronic pain and providing education and resources to those in need.”

For the second year of collaboration, Sunbeam and the U.S. Pain Foundation plan to raise awareness throughout September by sharing:

• A daily fact on the U.S. Pain Foundation’s social media profiles covering multiple topics related to chronic pain, including how it is widespread, disparities in pain treatment, the cost of care, the mental and physical toll of chronic pain, and more.
• A video that features facts about pain care and people with chronic pain sharing their stories.
• Five articles to be published throughout the month on uspainfoundation.org that focus on different aspects of chronic pain awareness and care.
• An event at the end of the month that brings together experts in the field of pain care and patients to discuss why #PainCounts.

Although chronic pain affects 20% of Americans, it is difficult for those affected to find the individual care they need care due to a lack of understanding from the public, the health care system, and insurance providers, in addition to other barriers.
Through the #PaintCounts initiative, Sunbeam and the U.S. Pain Foundation hope to spur greater research into the causes of chronic pain, emphasize the need for inclusive health data among broader ethnic groups by location and
encourage health care providers to be trained according to the U.S. government’s Report on Pain Management Best Practices.

The numbers are staggering:

• According to the CDC, 20 million Americans live with “high-impact pain” or pain that significantly impacts their daily life
• A report in The Journal of Pain found that 74% of people with high-impact chronic pain are currently unemployed
• According to a U.S. Pain Survey, 74% of respondents indicated they have been living with their pain for at least 10 years, with 34% living with it for more than 20 years.

“Collaborating with Sunbeam is helping us highlight the diverse needs of people with chronic pain this Pain Awareness Month,” said Nicole Hemmenway, CEO of the U.S. Pain Foundation. “We are very appreciative of their focus and dedication to the patient experience. Thanks to their support, we hope to help people with chronic pain find the care and information they need while highlighting critical issues impacting the community. It’s time to truly make their pain count.”

For more information about the #PainCounts initiative, visit www.uspainfoundation.org/painawarenessmonth.

About Sunbeam


®



Sunbeam

®

is a leading manufacturer of electric appliances serving home and personal wellness. Based in Boca Raton, Fla., Sunbeam

®

is part of Newell Brands’ global portfolio of leading brands. For more information, visit www.Sunbeam.com

About Newell Brands



Newell Brands (NASDAQ: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Rubbermaid®, Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®, Marmot®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Rubbermaid Commercial Products®, Graco®, Baby Jogger®, NUK®, Calphalon®, Contigo®, First Alert®, Mapa®, Spontex® and Yankee Candle®. Newell Brands’ beloved, planet friendly brands enhance and brighten consumers lives at home and outside by creating moments of joy, building confidence and providing peace of mind.

About U.S. Pain Foundation


The mission of the U.S. Pain Foundation is to empower, educate, connect, and advocate for individuals living with chronic illness and serious injuries that cause pain, as well as their caregivers and clinicians. Its programs and services include a network of support groups, educational resources and events, a program for children and their families, federal advocacy efforts, a magazine called the INvisible Project, and more. The U.S. Pain Foundation is a 501(3)(c) nonprofit organization. For more information, visit www.uspainfoundation.org.

Contact: Hannah Henry, [email protected]

 

 

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SOURCE Sunbeam

NEW YORK
, Sept. 1, 2021/PRNewswire/ — CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a loan of about $43 million to finance the acquisition of a portfolio of medical office buildings in Florida and Arizona.

The portfolio, acquired by Cypress West Partners, consists of 14 medical office buildings encompassing nearly 150,000 square feet of rentable space. Ten of the facilities are located in Arizona and four are in Florida.

“This portfolio consists of modern, well-designed and efficient facilities in attractive locations to support the medical needs of their respective communities,” said Christopher J. Cumella, CEO of Cypress West Partners. “We are pleased to add these assets to our growing portfolio and appreciate CIT’s agility in financing this latest acquisition for us.”

“We highly value our relationship with Cypress West, which is known throughout the industry as a deeply experienced investor with an outstanding portfolio of medical office properties,” said William Douglass, managing director and group head for CIT’s

Healthcare Finance

business. “We have now financed several of their medical properties and are pleased to provide the financing in support of this transaction as well.”

CIT’s

Healthcare Finance

unit, part of the

Commercial Finance

division, provides comprehensive financing and banking solutions to middle market healthcare companies across the U.S. By using a client-focused and industry-centric model, the Healthcare Finance team can tailor its products and services to help clients meet their needs for growth capital.

About CIT


CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company’s commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT’s consumer banking segment includes a national direct bank and regional branch network. Discover more at

cit.com/about

.

MEDIA RELATIONS: 




John M. Moran


212-461-5507


[email protected]

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SOURCE CIT Group Inc.

LONDON , Sept. 1, 2021 /PRNewswire/ — Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology business, today announces the introduction of two significant new technologies to its total knee arthroplasty (TKA) portfolio – the JOURNEY II Medial Dished (MD) for TKA and SYNC Performance Instruments.

Contemporary knee designs are seeing a resurgence in a sub-category of tibial inserts that are designed to optimize knee kinematics through a more constraining medial design. This style of tibial insert provides a surgeon the option of not cutting a PS box in the femur, as well as either retaining or sacrificing the posterior cruciate ligament (PCL).

The design goal of the entire JOURNEY II family is to recreate the normal shapes, position and motion of the healthy knee. JOURNEY II Medial Dished (MD) is designed to provide more normal kinematics despite the condition or presence of the PCL. Expected to enter initial commercial release later this fall, it aims to improve patient function^1-4, enable smoother patient recovery^3,5 and deliver higher patient satisfaction^1,3,6.

“I am excited about the addition of the Medial Dished insert to the JOURNEY II CR Total Knee System,” said Dr. Kevin Fricka, Orthopaedic Adult Hip and Knee Reconstruction at Anderson Orthopaedic Clinic. “This insert will allow me the flexibility I need to achieve excellent knee kinematics in both cruciate sacrificing and cruciate retaining total knee replacement procedures.”

Smith+Nephew is further bolstering its TKA portfolio with the launch of SYNC Performance Instruments. Developed to help improve the surgeon’s experience with a new ergonomic design, a reduction in the number of instruments, and a compact tray design. SYNC enables a streamlined, user friendly and intuitive solution with the performance and intraoperative flexibility surgeons demand to meet every challenge. Additionally, a customized tray configuration helps minimize OR footprint and can reduce the burden on central sterilization.         

“Smith+Nephew’s SYNC instrumentation provides a new level of intraoperative flexibility,” said Dr. John Shields, Associate Professor Orthopaedics, Wake Forest Baptist Health. “They offer improved precision, ergonomics, and customization of modular trays that the entire team appreciates.”

With over 250,000 implantations, the JOURNEY II TKA has system continued to demonstrate clinical improvements in patient satisfaction, function, recovery, as well help reduce the economic impact to the episode of care.^5,7

To learn more about SYNC Instruments, JOURNEY II MD, or our total knee arthroplasty portfolio, please stop by the Smith+Nephew booth (#1735) during AAOS 2021.

References

1. Murakami K, Hamai S, Okazaki K, et al. In vivo kinematics of gait in posterior-stabilized and bicruciate-stabilized total knee arthroplasties using image-matching techniques. Int Orthop. 2018;42(11):2573-2581.

2. Kosse NM, Heesterbeek PJC, Defoort KC, Wymenga AB, Hellemondt GG. Minor adaptations in implant design bicruciate-substituted total knee system improve maximal flexion. Poster presented at: 2nd World Arthroplasty Congress;19-21 April, 2018; Rome, Italy.

3. Nodzo SR, Carroll KM, Mayman DJ. The Bicruciate Substituting Knee Design and Initial Experience. Techniques in Orthopaedics. 2018;33(1):37-41.

4. Takubo A, Ryu K, Iriuchishima T, Tokuhashi Y. Comparison of Muscle Recovery Following Bi-cruciate Substituting versus Posterior Stabilized Total Knee Arthroplasty in the Asian Population. J Knee Surg. 2017;30(7):725-729.

5. Mayman DJ, Patel AR, Carroll KM. Hospital Related Clinical and Economic Outcomes of a Bicruciate Knee System in Total Knee Arthroplasty Patients. Poster presented at: ISPOR Symposium;19-23 May, 2018; Baltimore, Maryland, USA.

6. Noble P.C, Scuderi G.R, Brekke A.C, et al. Development of a New Knee Society Scoring System. Clin Orthop Relat Res 2012;470(1):20-32.

7. Patel AR, Delhougne G. Hospital related clinical and economical outcomes of two premium knee systems in total knee arthroplasty (TKA) patients. Poster presented at: ISPOR Symposium; May 18–22, 2019; New Orleans, Louisiana, USA.

About Smith+Nephew
Smith+Nephew is a portfolio medical technology business that exists to restore people’s bodies and their self-belief by using technology to take the limits off living. We call this purpose ‘Life Unlimited’. Our 18,000 employees  deliver this mission every day, making a difference to patients’ lives through the excellence of our product portfolio, and the invention and application of new technologies across our three global franchises of Orthopaedics, Advanced Wound Management and Sports Medicine & ENT.

Founded in Hull, UK, in 1856, we now operate in more than 100 countries, and generated annual sales of $4.6 billion in 2020. Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN). The terms ‘Group’ and ‘Smith+Nephew’ are used to refer to Smith & Nephew plc and its consolidated subsidiaries, unless the context requires otherwise.

For more information about Smith+Nephew, please visit www.smith-nephew.com and follow us on Twitter, LinkedIn, Instagram or Facebook.

Forward-looking Statements


This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as “aim”, “plan”, “intend”, “anticipate”, “well-placed”, “believe”, “estimate”, “expect”, “target”, “consider” and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith+Nephew, these factors include: risks related to the impact of COVID-19, such as the depth and longevity of its impact, government actions and other restrictive measures taken in response, material delays and cancellations of elective procedures, reduced procedure capacity at medical facilities, restricted access for sales representatives to medical facilities, or our ability to execute business continuity plans as a result of COVID-19; economic and financial conditions in the markets we serve, especially those affecting health care providers, payers and customers (including, without limitation, as a result of COVID-19); price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls or other problems with quality management systems or failure to comply with related regulations; litigation relating to patent or other claims; legal compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers (including, without limitation, as a result of COVID-19); competition for qualified personnel; strategic actions, including acquisitions and dispositions, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith+Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith+Nephew’s most recent annual report on Form 20-F, for a discussion of certain of these factors. Any forward-looking statement is based on information available to Smith+Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith+Nephew are qualified by this caution. Smith+Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith+Nephew’s expectations.

^™

Trademark of Smith+Nephew. Certain marks registered US Patent and Trademark Office.

 

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SOURCE Smith & Nephew plc

PLEASANTON, Calif., Sept. 1, 2021 /PRNewswire/ — ServiceMax, a leader in asset-centric field service management, today announced the appointment of two new board members: Felicia Alvaro, the Audit Committee Chair of Cornerstone on Demand; and Callie Field, the Executive Vice President and Chief Customer Experience Officer for T-Mobile, increasing the size of its Board to eight Directors.

Alvaro and Field will be joining ServiceMax’s Board at a pivotal point in the company’s history as it prepares to be listed on Nasdaq following a business combination with Pathfinder Acquisition Corporation (NASDAQ: PFDR), a publicly traded special purpose acquisition company co-sponsored by affiliates of HGGC and Industry Ventures (“Pathfinder”). Their particular expertise will play an integral role in helping the Board guide the company’s organizational focus and financial direction.

“We are excited to welcome Felicia and Callie to ServiceMax’s Board of Directors as the company prepares to be publicly listed,” said Neil Barua, CEO, ServiceMax. “They bring impressive, varied backgrounds and an energetic, enthusiastic commitment to our mission to help our customers keep the world running.  Their experience will be invaluable as we continue to grow and evolve in the coming years.” 

“It is an honor to join the ServiceMax Board at this exciting and transformational juncture for the company,” said Alvaro. “I look forward to working with the Board and management to build upon the work that has been done to create long-term value for all stakeholders, and to provide critical guidance and oversight as ServiceMax enters the public market.”

“Customers are at the heart of what ServiceMax does – already, hundreds of companies across the globe have turned to ServiceMax to help them keep the world running,” said Field. “I’m thrilled to join ServiceMax at such an important time and provide guidance for the company’s customer success strategy as they look to take advantage of the massive opportunity that exists in the field service management market.”

Felicia Alvaro, who joins the Board of Directors as Audit Committee Chair, is also the Audit Chair of Cornerstone on Demand and was the Executive Vice President, Chief Financial Officer and Treasurer of Ultimate Software before she retired in 2020 after 22 years. In her role, she oversaw the financial aspects of the company’s largest acquisition, which took them global, and its sale as a public company to a private equity firm. Prior to Ultimate, Felicia spent 11 years in finance and accounting positions at Precision Response Corporation, Pueblo Xtra International, and KPMG.

Callie Field
is the Executive Vice President and Chief Customer Experience Officer for T-Mobile. She joined T-Mobile more than fifteen years ago and currently leads a team of digital technologists and more than 30,000 customer experience-obsessed experts. As the executive sponsor of T-Mobile’s Multicultural Alliance network, she has dedicated herself to supporting the company’s Diversity, Equity and Inclusion efforts.

About ServiceMax

ServiceMax’s mission is to help customers keep the world running with asset-centric field service management software. As the recognized leader in this space, ServiceMax’s mobile apps and cloud-based software provide a complete view of assets to field service teams. By optimizing field service operations, customers across all industries can better manage the complexities of service, support faster growth and run more profitable, outcome-centric businesses. For more information, visit www.servicemax.com.

On July 15, 2021, ServiceMax announced plans to merge with Pathfinder to become a publicly traded company (the “Business Combination”). Consummation of the Business Combination is subject to customary closing conditions, including approval by Pathfinder’s stockholders.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of section 27A of the Securities Act and Section 21E of the Exchange Act that are based on beliefs and assumptions and on information currently available to ServiceMax. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans as they relate to the Business Combination or the consummation of the Business Combination itself, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. ServiceMax cannot assure you that the forward-looking statements in this communication will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including those included under the heading “Risk Factors” in the registration statement on Form S-4 filed by Pathfinder with the SEC and those included under the heading “Risk Factors” in the final prospectus filed by Pathfinder on February 18, 2021 relating to Pathfinder’s initial public offering and in its subsequent periodic reports and other filings with the SEC. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Pathfinder, ServiceMax, their respective directors, officers or employees or any other person that Pathfinder and ServiceMax will achieve their objectives and plans in any specified time frame, or at all. The forward-looking statements in this communication represent the views of ServiceMax as of the date of this communication. Subsequent events and developments may cause that view to change. However, while ServiceMax may elect to update these forward-looking statements at some point in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of ServiceMax as of any date subsequent to the date of this communication.

Important Additional Information Regarding the Transaction Will Be Filed with the SEC

In connection with the Business Combination, Pathfinder has filed a registration statement on Form S-4 with the SEC that includes a prospectus with respect to Pathfinder’s securities to be issued in connection with the Business Combination and a proxy statement with respect to the stockholder meeting of Pathfinder to vote on the Business Combination. Stockholders ofPathfinderand other interested persons are encouraged to read the preliminary proxy statement/prospectus as well as other documents to be filed with the SEC because these documents will contain important information about Pathfinder, ServiceMax and the Business Combination. After the registration statement is declared effective, the definitive proxy statement/prospectus to be included in the registration statement will be mailed to stockholders of Pathfinder as of a record date to be established for voting on the Business Combination. Once available, stockholders of Pathfinder will also be able to obtain a copy of the S-4, including the proxy statement/prospectus, and other documents filed with the SEC without charge, by directing a request to: Pathfinder Acquisition Corporation, 1950 University Avenue, Suite 350, Palo Alto, California 94303. The preliminary and definitive proxy statement/prospectus to be included in the registration statement, once available, can also be obtained, without charge, at the SEC’s website (www.sec.gov).

Participants in the Solicitation

Pathfinder and ServiceMax and their respective directors and executive officers may be considered participants in the solicitation of proxies with respect to the potential transaction described in this communication under the rules of the SEC. Information about the directors and executive officers of Pathfinder and their ownership is set forth in Pathfinder’s filings with the SEC, including the final prospectus filed by Pathfinder on February 18, 2021 relating to Pathfinder’s initial public offering and in its subsequent periodic reports and other filings with the SEC. Additional information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the Pathfinder stockholders in connection with the potential transaction can be found in the registration statement containing the preliminary proxy statement/prospectus filed with the SEC. These documents are available free of charge at the SEC’s website at www.sec.gov or by directing a request to: Pathfinder Acquisition Corporation, 1950 University Avenue, Suite 350, Palo Alto, California 94303.

No Offer or Solicitation

This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Pathfinder or ServiceMax, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

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SOURCE ServiceMax

WHEELING, W. Va., Sept. 1, 2021  WesBanco, Inc. (NASDAQ: WSBC), a diversified, multi-state bank holding company announced today that Todd F. Clossin, President and Chief Executive Officer, and Robert H. Young, Senior Executive Vice President and Chief Financial Officer, are scheduled to participate in the Raymond James U.S. Bank Virtual Conference on Wednesday, September 8 and Thursday September 9, 2021. 

The conference does not include a formal presentation; therefore, no webcast will be available.

About WesBanco, Inc.
Founded in 1870, WesBanco, Inc. (www.wesbanco.com) is a diversified and balanced financial services company that delivers large bank capabilities with a community bank feel.  Our distinct long-term growth strategies are built upon unique sustainable advantages permitting us to span six states with meaningful market share.  Built upon our ‘Better Banking Pledge’, our customer-centric service culture is focused on growing long-term relationships by pledging to serve all personal and business customer needs efficiently and effectively.  In addition to a full range of online and mobile banking options and a full-suite of commercial products and services, WesBanco provides trust, wealth management, securities brokerage, and private banking services through our century-old Trust and Investment Services department, with approximately $5.5 billion of assets under management (as of June 30, 2021).  WesBanco’s banking subsidiary, WesBanco Bank, Inc., operates 206 financial centers in the states of Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia.  Additionally, WesBanco operates an insurance agency, WesBanco Insurance Services, Inc., and a full service broker/dealer, WesBanco Securities, Inc.

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SOURCE WesBanco, Inc.

HONG KONG
, Sept. 1, 2021/PRNewswire/ — Chinese investors are paying closer attention to foreign asset managers’ environmental, social and governance (ESG) commitments and offerings as they look to invest, according to The Future of Asset Management in China 2021 study published today by FleishmanHillard.

The report offers insights for global asset managers assessing opportunities in China. It is the third annual China-focused asset management report published by FleishmanHillard and its TRUE Global Intelligence practice, and features analysis drawn from an online survey of mainland Chinese investors’ attitudes and behaviors, plus an overview of the latest industry trends.

With the increasingly strong interest in ESG investment, it is notable that a combined 95% of Chinese investors think that strong ESG product offerings are “very important” or “somewhat important” for overseas asset managers operating in China. This ranks the same as transparent fee disclosures (95%), followed by transparency in customer communications (94%). In addition, just over half of Chinese investors (53%) believe that the commitment of an asset manager to ESG is “very important,” with another two-fifths (43%) saying it is “somewhat important” – making it the third most important factor when choosing an asset manager. The credibility (61%) and performance (58%) of the asset management house continue to be the most important decision drivers.

Overseas asset managers working to directly offer retail onshore funds in China for the first time this year should see strong demand for their products, with 95% of Chinese investors stating that they would be “extremely” or “very interested” in such offerings in the market.

“China is emerging from the pandemic in a strong position, which is feeding into growing confidence among local investors and in turn benefiting demand for foreign asset managers’ services as they enter into this fast-opening market,” said Patrick Yu, Asia Pacific lead of FleishmanHillard’s Financial and Professional Services practice. “With full foreign competition in China’s asset management industry becoming a reality, it has never been more important for players in the industry to understand the needs of Chinese investors and to have a robust communications strategy that responds to these sentiments and supports business expansion in the country.”

The survey also found:

• 
  Qualified Domestic Limited Partnership (QDLP) and private market funds from overseas asset managers continue to draw interest among Chinese investors.
  
  Ninety-five percent of investors show interest in QDLP funds, whereas 93% have purchased private market funds from overseas asset managers with Wholly Foreign-Owned Enterprise (WFOE) licenses. Better product performance and a clear investment strategy are the main reasons for investors to opt for products from overseas asset managers rather than onshore products by the local counterparts.
• 
  In the next 12 months, investors are interested in globally focused, or China/Hong Kong SAR focused liquid asset funds.
  
  It is clear that Chinese investors are looking for more broad, global exposure to liquid assets in their portfolios over the next 12 months, followed closely by allocations closer to home in China and Hong Kong SAR. It is interesting, however, to see that local investors are as interested in cryptocurrency funds as they are in fixed income funds and Exchange Traded Funds (ETF), despite recent price fluctuations.
• 
  WeChat is important for reaching Chinese investors, but independent financial advisers, bank intermediaries and financial media are also important.
  
  Thirty-seven percent of investors use WeChat for information on funds and investment products, of which 73% used the platform to find corporate information (global and China) – up a significant 19% from last year (54%). However, independent financial advisers or intermediaries from banks and financial media also continued to be the most important sources of information.
• 
  
  China’s effective response to COVID-19 has boosted Chinese investor confidence.
  
  There has been a jump in the number of those who are now confident in their personal financial situation and believe the pandemic is having no impact – 34%, up from 23% last year. The sentiment reflects China’s rapid and effective response to COVID-19 and the quick return to normality in the country.
• 
  Ongoing U.S.-China trade tensions are leading to a more “risk off” sentiment for local Chinese investors.
  
  Compared with last year’s fairly even split between investors who were more “risk on” and those who were more “risk off,” the needle appears to have swung more in the direction of lower risk sentiment as tensions look set to continue for the long term. A combined 53% of respondents say they are moving more or some of their investments into lower risk options, compared with 32% who have a higher risk appetite.

FleishmanHillard’s The Future of Asset Management in China 2021 report includes qualitative and quantitative data. FleishmanHillard TRUE Global Intelligence fielded an online survey of 260 Chinese investment professionals between July 16-22, 2021. All respondents to the survey self-identified as working in investment, finance or banking, and had traded or invested in at least one of the following: equities fund (95%), fixed income (89%), ETF (88%), alternatives (57%), balanced funds (86%) or PE funds (78%).

About FleishmanHillard



FleishmanHillard

specializes in public relations, reputation management, public affairs, brand marketing, digital strategy, social engagement and content strategy. FleishmanHillard was named 2020 Campaign Global PR Agency of the Year; 2019 PRWeek U.S. Outstanding Large Agency; 2019 Holmes Report North America Large Agency of the Year; ICCO Network of the Year – Americas 2017-2020; PRovoke Media Greater China Consultancy of the Year 2020; PRWeek UK Best Places to Work 2020; Human Rights Campaign Best Places to Work for LGBTQ Equality 2018-2020; and NAFE’s “Top Companies for Executive Women” 2010-2020. The firm’s award-winning work is widely heralded, including at the Cannes International Festival of Creativity. FleishmanHillard is part of Omnicom Public Relations Group, and has 80 offices in more than 30 countries, plus affiliates in 50 countries.

About Omnicom Public Relations Group



Omnicom Public Relations Group

is a global collective of three of the top global public relations agencies worldwide and specialist agencies in areas including public affairs, marketing to women, global health strategy and corporate social responsibility. It encompasses more than 6,300 public relations professionals in more than 370 offices worldwide who provide their expertise to companies, government agencies, NGOs and nonprofits across a wide range of industries. Omnicom Public Relations Group delivers for clients through a relentless focus on talent, continuous pursuit of innovation and a culture steeped in collaboration. Omnicom Public Relations Group is part of the DAS Group of Companies, a division of Omnicom Group Inc. (NYSE: OMC) that includes more than 200 companies in a wide range of marketing disciplines including advertising, public relations, healthcare, customer relationship management, events, promotional marketing, branding and research.

 

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SOURCE FleishmanHillard Inc.