Market Newsdesk

March 11, 2021 4:19 am

First High-School Education Group Announces Pricing of Initial Public Offering

PR Newswire

NEW YORK, March 11, 2021 /PRNewswire/ — First High-School Education Group Co., Ltd. (“First High-School Education Group” or the “Company”) (NYSE: FHS), the largest operator of private high schools in Western China and the third largest operator in China^[1], today announced the pricing of its initial public offering (the “Offering”) of 7,500,000 American Depositary Shares (“ADSs”) at an offering price of US$10.00 per ADS for a total offering size of approximately US$75,000,000, assuming the underwriters do not exercise their option to purchase additional ADSs. Each ADS represents three Class A ordinary shares of the Company. The Company expects to offer 5,000,000 ADSs and Longwater Topco B.V. (the “Selling Shareholder”) expects to offer 2,500,000 ADSs in aggregate in the Offering. The ADSs are expected to begin trading on the New York Stock Exchange on March 11, 2021, under the symbol “FHS.” The Offering is expected to close on March 15, 2021, subject to the satisfaction of customary closing conditions.

The Company and the Selling Shareholder have granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 1,125,000 additional ADSs.

The Benchmark Company LLC, Valuable Capital Limited and TFI Securities and Futures Limited are acting as the joint bookrunners of the offering and representatives of underwriters. AMTD Global Markets Limited, Maxim Group LLC, Boustead Securities, LLC, Futu Inc., US Tiger Securities, Inc., and Fosun Hani Securities Limited are acting as Co-managers of the offering. FT Global Capital, Inc is acting as advisor to the Company.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on March 10, 2021. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering is being made only by means of a prospectus that forms part of the effective registration statement. A copy of the final prospectus relating to the offering, when available, may be obtained from (i) Benchmark Company LLC. at [email protected]; (ii) Valuable Capital Limited at Room 2807-09, 28th Floor, China Merchants Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong / [email protected]; and (iii) TFI Securities and Futures Limited at Room 1108 – 1111, 11/F, Nexxus Building, 41 Connaught Road Central, Central, Hong Kong / 852 3187 8701 / [email protected].

About First High-School Education Group

First High-School Education Group is the largest operator of private high schools in Western China and the third largest operator in China^[2]. First High-School Education Group has a network of 19 schools, offering 14 high school programs, seven middle school programs and four tutorial school programs for Gaokao repeaters, as of September 30, 2020. All of schools of the Company are strategically located in Western China. The Company aspires to become a leader and innovator of private high school education in China.

For more information, please visit: https://ir.diyi.top/

^[1] In terms of student enrollment as of December 31, 2019, according to an industry report commissioned by First High-School Education Group and prepared by China Insights Industry Consultancy Limited.

^[2] In terms of student enrollment as of December 31, 2019, according to an industry report commissioned by First High-School Education Group and prepared by China Insights Industry Consultancy Limited.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

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SOURCE First High-School Education Group Co., Ltd

March 11, 2021 4:18 am

Bank Hapoalim Announces Annual and Fourth Quarter 2020 Results

TEL AVIV, Israel, March 11, 2021 (GLOBE NEWSWIRE) — Bank Hapoalim (TASE: POLI) (ADR: BKHYY), today announced its financial results for the fourth quarter and full year ended December 31, 2020.

Key financial highlights:

Net profit in 2020 totaled NIS 2,056 million, compared with NIS 1,799 million in 2019, an increase of 14.3%. Note, the comparative net profit in 2019 included exceptional expenses associated with the investigation of the US authorities and other related items. Net profit represents a return on equity of 5.3% in 2020, compared with 4.6% in 2019.
Quarterly net profit totaled NIS 915 million, representing a return on equity of 9.6% for the fourth quarter.
The Bank continued to demonstrate strong capital and liquidity resilience:
- Shareholders equity grew by 4.4% to NIS 39.9 billion or NIS 29.85 per share.
- Common Equity Tier 1 (CET1) capital ratio stood at 11.52%, well above both regulatory (9.24%) and internal (9.5%) capital targets.
- Liquidity Coverage Ratio (LCR) stood at 140%, compared with 121% at the end of 2019.
- Loans to Deposit Ratio (LDR) stood at 69% at the end of the reporting period.
Provisions for credit losses in 2020 totaled NIS 1,943 billion, or 0.64%, compared with NIS 1,276 billion in 2019, or 0.44%, on the back of increase in the Bank’s collective allowance provisioned to address the potential adverse impact of COVID-19.
Quarterly provisions for credit losses recorded a net income of NIS 187 million, or -0.25%, in the fourth quarter of 2020, mostly on the back of recoveries from several large corporate clients, compared with a provision of NIS 876 million, or 1.19%, in the fourth quarter of 2019.
Loan book – net credit to the public at the end of 2020 totaled NIS 301.8 billion, representing a 3% growth of the total loan book, compared with 2019 credit balances of NIS 292.9 billion. Notably, the Bank grew its mortgage book by 10.5% and commercial middle market credit by 5.4%. Off-balance sheet credit grew by 10.5%.
Retail deposits increased 17.1% since year-end and totaled NIS 274.8 billion.
The bank continues to implement various cost efficiency measures, amongst them the acceleration of its fifth efficiency program. In 2020, the Bank reduced its employee roster by a net of 400 employees. The Bank also reduced its branch reach by 26 branches, representing 12.1% of its network.
Cost income ratio excluding special items stood at 56.7% in 2020, compared with 58.1% in 2019.

Leadership comments:

Ruben Krupik, Chairman of the Board of Directors:

“This past year has taught us that the unexpected can and will happen, but has also shown that financial robustness, sound judgment, and good leadership can overcome any crisis. Bank Hapoalim, in keeping with its strong standing in the financial industry, responded to the new realities with speed and precision, maintaining a high level of service for its customers and attaining its objectives in the areas of efficiency, growth, and corporate strategy.

In what has become a tradition, “Poalim in the Community” has continued in its social mission during this extraordinary year, and has expanded its work mainly in the field of employment and assistance to job seekers.

The ramifications of the crisis and the continually evolving conditions in the business environment in general, and in banking in particular, have created significant challenges which we must still confront. I am confident that the Bank is prepared for the future, with its talented and dedicated management, as it upholds its commitment to growth and service through innovative, fair banking for its customers.

I would like to extend my deep gratitude and appreciation to the Bank’s employees, who in such a complex year have recruited extraordinary dedication, commitment and character, and to the Bank’s management led by Dov Kotler for the talent, quality and dedication in running the Bank’s business.”

Mr. Dov Kotler, President and CEO:

“A year has now passed since the outbreak of the coronavirus pandemic in Israel, and of the subsequent economic crisis, which is still ongoing. A year ago, we saw uncertainty on the horizon, but we did not have a clear perception of the crisis yet. While there is much optimism about the recovery of the Israeli economy after the pandemic, uncertainty is still prevalent and many challenges lie ahead.

This was not an easy year for our customers – households and businesses alike. But in this challenging time, we stood by them, helping them cope with the hardships: we deferred loan and mortgage payments, granted state-backed loans to businesses, founded a loan fund for self-employed people, enhanced service at the branches of the Bank, and, of course, enabled thousands of employees to provide full service while working from home.

Despite this difficult year, we continued to demonstrate high financial robustness; we grew our credit portfolio, driven by housing credit and commercial credit, adapting to the latest developments; we continued the progress of our efficiency plan; we entered the digital wallet space and developed new collaborations; and we created platforms for our customers to do business in the United Arab Emirates and Bahrain. On the organizational level, we streamlined and shortened processes, sharpened our focus on our goals, and adopted a new organizational culture adapted to the challenges of today’s banking universe.

As the leading financial institution in Israel, we have a responsibility to set an example of corporate conduct during a prolonged period of uncertainty, and I believe the bank will continue to serve as a role model. I would like to thank the Chairman of the Board, Ruben Krupik, the members of the board of directors, and the dedicated employees of the bank, who have resolutely pursued their mission even during challenging times, and who are there for our customers, driven by a sense of commitment and responsibility.”

Recent mentions:

Sale of the Bank’s Holdings in Bank Pozitif: In February 2021, the Bank entered into an agreement for the sale of the entire holdings of the parties in Bank Pozitif for a total consideration of approximately NIS 40 million (no payment of tax is anticipated). The transaction is subject to obtaining regulatory approvals in Turkey and Israel by June 2021.
COVID-19: The Bank continues its commitment to support its employees, customers and the community through the COVID-19 crisis. Among its many initiatives:
- Deferral of loan payments: The bank has continued to expand measures for its customers who affected by COVID-19. Among other efforts, the bank is allowing customers to defer loan and mortgage payments, in order to provide cash-flow relief. The total cumulative balance of loans in respect of which payments were deferred is NIS 42.5 billion as at 31 December 2020. As at end of January 2021, the credit balance in respect of which payments have been deferred declined materially and totaled approximately NIS 11.2 billion.
- Participation in government guarantee scheme: The bank continues to offer loans to businesses under the scheme. As at the end of 2020, the bank has provided loans to its customers in an amount of approximately NIS 5.7 billion. Approximately 77% of which have been granted to small businesses and microbusinesses, and the balance to mid-sized and large businesses.
Digital wallets: In February 2021, the bank entered the digital wallet universe with its launch of Bit Wallet, an advanced payment platform open to customers of all banks, and the Bitcard, a credit card offering special benefits. This enhanced Bit’s service offering, which now encompasses all forms of payment: person-to-person transfers, receiving rebates, online shopping, and contactless payment at any EMV-enabled point of sale in Israel or overseas.
Business collaborations in the GCC: Following the historic signing of the Abraham Accord, the bank has taken a leadership role in advancing the economic ties between Israel and the GCC. In addition to corresponding agreements signed with peer banks on the UAE, in January 2021 the Bank signed a memorandum of understanding with the National Bank of Bahrain, Bahrain’s leading bank.

Key developments in the 2020 annual financial statements:

Income from regular financing activity totaled NIS 9,422 million in 2020, compared with NIS 9,756 million in 2019, a decrease of 3.4%. The decrease was due to a decrease in the financial spreads on deposits, mainly due to a decrease in dollar and shekel interest rates and a decrease in income from linkage differences (due to changes in the known index rate between periods) and a decrease in consumer credit balances.
Fees and other income, totaled NIS 3,291 million in 2020, compared with NIS 3,330 million in 2019, a decrease of 1.2%, due to reduced economic activity. This decrease is mainly due to a decline in commission income of 2.6% due to the reduction of economic activity during COVID-19, and is mainly attributed to a decrease in income from account management fees and income from credit cards.
Net provision for credit losses totaled NIS 1,943 million in 2020, or 0.64% of the average total credit to the public (annualized), compared with a net income for credit losses in an amount of NIS 1,276 million in 2019, or 0.44% of the average total credit to the public (annualized).
Operating and other expenses totaled NIS 7,501 million in 2020, compared with NIS 8,776 million in 2019, a decrease of 14.5%. The decrease in expenses mainly resulted from exceptional expenses recorded in 2019 in respect of the update of the provision in connection with the investigation of the Bank Group’s business with American customers and FIFA, and the related legal expenses, and from a decrease in salary expenses due to the continued implementation of the Bank’s efficiency plan. Excluding the expenses in connection with the provision for the investigation of the United States authorities, and the revaluation of this provision, as well as the closure of the private-banking activity in Switzerland, operating and other expenses totaled NIS 7,442 million in 2020, compared with NIS 7,882 million in 2019, a decrease of 5.6%.
Cost income ratio stood at 56.9% in 2020, compared with 66.4% in 2019. Excluding exceptional expenses in respect of the update of the provision in connection with the investigation of the Bank Group’s business with American customers and FIFA, and associated expenses, cost income ratio stood at 56.7% in 2020, compared with 58.1% in 2019.

Key developments in balance sheet items:

Consolidated balance sheet, totaled NIS 539.6 billion as at December 31, 2020, compared with NIS 463.7 billion at the end of 2019, an increase of 16.4%.
Net credit to the public, totaled NIS 301.8 billion, compared with NIS 292.9 billion at the end of 2019, an increase of 3.0%. .
Consumer credit in Israel, totaled NIS 37.2 billion, compared with NIS 41.5 billion at the end of 2019, a decrease of 10.2%.
Housing loans in Israel, totaled NIS 98.7 billion, compared with NIS 89.3 billion at the end of 2019, an increase of 10.5%.
Credit to small businesses in Israel, totaled NIS 31.4 billion, compared with NIS 31.0 billion at the end of 2019, an increase of 1.1%.
Credit to the commercial segment in Israel, totaled NIS 42.3 billion, compared with NIS 40.1 billion at the end of 2019, an increase of 5.4%.
Credit to the corporate segment in Israel, totaled NIS 78.1 billion, compared with NIS 77.3 billion at the end of 2019, an increase of 1.0%.
Deposits from the public, totaled NIS 435.2 billion, compared with NIS 361.6 billion at the end of 2019, an increase of 20.3%.
Deposits from consumers in Israel, totaled NIS 218.5 billion, compared with NIS 188.8 billion at the end of 2019, an increase of 15.7%.
Deposits from small businesses in Israel, totaled NIS 56.3 billion, compared with NIS 46.0 billion at the end of 2019, an increase of 22.5%.
Shareholders’ equity, totaled NIS 39.9 billion, compared with NIS 38.2 billion at the end of 2019, an increase of 4.4%.
Total capital ratio, as at December 31, 2020 stood at 14.6%, above the capital thresholds required by the Bank of Israel.

Conference Call Information:

Bank Hapoalim will host a conference call today to discuss the results. The call will take place at 5:00 p.m. Israel time/ 3:00 p.m. UK time/ 10:00 a.m. Eastern time. To access the conference call, please dial: 1-888-281-1167 toll free from the United States; 0-800-917-5108 toll free from the United Kingdom; or 972-3-9180610 internationally. No password is required. The call will be accompanied by a slide presentation, which, together with the financial statements, will be available on the Bank’s website at www.bankhapoalim.com, under Investor Relations, Financial Information. A recording of the conference call will be available on the Bank’s website at the above address one business day following the completion of the call.

Please note: The conference call does not replace the need to peruse the immediate reports and the Financial Statements of the Bank, including all the forward-looking information included therein in accordance with Section 32A of the Israeli Securities Law, 1968.

-xxx-

About

Bank Hapoalim

:

Bank Hapoalim is Israel’s leading financial group. In Israel, the Bank Hapoalim operates 189 full-service retail branches, regional business centers and specialized industry relationship managers for major corporate customers. The Bank Hapoalim Group includes holdings in financial companies involved in investment banking, trust services and portfolio management. Internationally, commercial banking services are provided in North America by the New York branch. Bank Hapoalim is listed on the Tel Aviv Stock Exchange (TASE: POLI) and holds a Level-1 ADR program. For more information about Bank Hapoalim, please visit us online at www.bankhapoalim.com

Please note: This press release was prepared for convenience only. In case of any discrepancy, the Bank’s reported financial statements in Hebrew will prevail.

Contact:

Karen Mazor, Head of Investor Relations
T: +972 3 5673440
E: [email protected]

Table 1-1: Condensed financial information and principal performance indicators over time

	For the year ended December 31
	2020		2019		2018		2017		2016
Main performance indicators
Return of net profit on equity attributed to shareholders of the Bank	5.35	%	4.62	%	7.06	%	7.50	%	7.72	%
Return of net profit on equity attributed to shareholders of the Bank excluding extraordinary items⁽¹⁾	5.74	%	7.13	%	9.74	%	9.44	%	10.04	%
Return of net profit from continued operations on equity attributed to shareholders of the Bank	5.63	%	3.86	%	6.07	%	6.61	%	6.92	%
Return of net profit from continued operations on equity attributed to shareholders of the Bank excluding extraordinary items⁽²⁾	5.74	%	6.72	%	8.75	%	8.55	%	9.23	%
Return on average assets	0.41	%	0.39	%	0.57	%	0.58	%	0.60	%
Ratio of income to average assets	1.99	%	2.17	%	2.29	%	1.99	%	2.07	%
Efficiency ratio – cost-income ratio from continued operations	56.9	%	66.4	%	65.1	%	64.6	%	63.2	%
Efficiency ratio – cost-income ratio excluding extraordinary items from continued operations⁽²⁾	56.7	%	58.1	%	57.8	%	59.1	%	59.2	%
Financing margin from regular activity⁽³⁾	1.98	%	2.26	%	2.31	%	2.13	%	2.05	%
Liquidity coverage ratio⁽⁴⁾	140	%	121	%	120	%	122	%	124	%

	December 31
	2020		2019		2018		2017		2016
Ratio of common equity Tier 1 capital to risk components⁽⁵⁾	11.52	%	11.53	%	11.16	%	11.26	%	11.01	%
Ratio of total capital to risk components⁽⁵⁾	14.60	%	14.64	%	14.39	%	14.64	%	15.11	%
Leverage ratio⁽⁵⁾	6.78	%	7.61	%	7.51	%	7.37	%	7.25	%

(1) Does not include expenses in respect of the update of the provision in connection with the investigation of the Bank Group’s business with American customers and FIFA, the effect of the closure of the private-banking activity overseas, net profit or loss from the separation from Isracard, and loss from impairment in respect of the Bank’s investment in Bank Pozitif.
(2) Does not include expenses in respect of the update of the provision in connection with the investigation of the Bank Group’s business with American customers and FIFA, the effect of the closure of the private-banking activity overseas, and loss from impairment in respect of the Bank’s investment in Bank Pozitif.
(3) Financing profit from regular activity (see the Report of the Board of Directors and Board of Management, in the section “Material developments in income, expenses, and other comprehensive income”) divided by total financial assets after allowance for credit losses, net of non-interest bearing balances in respect of credit cards.
(4) For additional information, see the section “Liquidity and refinancing risk”, in the Report of the Board of Directors and Board of Management.
(5) For additional information, see the section “Capital, capital adequacy, and leverage”, in the Report of the Board of Directors and Board of Management.

Condensed financial information and principal performance indicators over time (continued)
	For the year ended December 31
	2020		2019		2018		2017		2016
Main credit quality indicators
Allowance for credit losses as a percentage of credit to the public	2.00	%	1.58	%	1.31	%	1.36	%	1.50	%
Impaired debts and debts in arrears of 90 days or more as a percentage of credit to the public	1.52	%	1.80	%	1.23	%	1.31	%	1.83	%
Net charge-offs as a percentage of average credit to the public	0.09	%	0.12	%	0.20	%	0.21	%	0.18	%
Provision for credit losses as a percentage of average credit to the public	0.64	%	0.44	%	0.22	%	0.08	%	0.07	%

Main profit and loss data
	NIS millions
Net profit attributed to shareholders of the Bank	2,056		1,799		2,595		2,660		2,628
Net profit attributed to shareholders of the Bank excluding extraordinary items⁽¹⁾	2,205		2,778		3,579		3,348		3,417
Net profit from continued operations attributed to shareholders of the Bank	2,165		1,503		2,231		2,346		2,354
Net profit from continued operations attributed to shareholders of the Bank excluding extraordinary items⁽²⁾	2,205		2,619		3,215		3,034		3,143
Net interest income	8,797		9,319		8,906		8,424		7,958
Provision for credit losses	1,943		1,276		613		202		179
Net financing profit*	9,885		9,878		10,351		9,076		9,121
Non-interest income	4,379		3,889		4,868		4,153		4,917
Of which: fees	3,155		3,240		3,318		3,338		3,617
Operating and other expenses	7,501		8,776		8,960		8,121		8,142
Of which: salaries and related expenses	3,836		4,108**		4,188**		4,300**		4,328**
Total income	13,176		13,208		13,774		12,577		12,875

Net earnings per ordinary share (in NIS)
Basic net earnings per share in NIS attributed to shareholders of the Bank from continued operations	1.62		1.13		1.68		1.76		1.77

* Net financing profit includes net interest income and non-interest financing income (expenses).
** Reclassified.
(1) Does not include expenses in respect of the update of the provision in connection with the investigation of the Bank Group’s business with American customers and FIFA, the effect of the closure of the private-banking activity overseas, net profit or loss from the separation from Isracard, and loss from impairment in respect of the Bank’s investment in Bank Pozitif.
(2) Does not include expenses in respect of the update of the provision in connection with the investigation of the Bank Group’s business with American customers and FIFA, the effect of the closure of the private-banking activity overseas, and loss from impairment in respect of the Bank’s investment in Bank Pozitif.

Condensed financial information and principal performance indicators over time (continued)
	December 31
	2020		2019		2018		2017		2016
	NIS millions
Main balance sheet data
Total assets	539,602		463,688		460,926		454,424		448,105
Of which: Cash and deposits with banks	138,711		88,122		84,459		86,093		80,367
Securities	71,885		59,486		56,116		65,416		71,429
Net credit to the public	301,828		292,940		282,507		265,853		259,878
Net problematic credit risk	9,754		8,787		6,944		6,822		7,358
Net impaired balance sheet debts	2,517		3,034		2,158		2,121		3,094
Total liabilities	499,703		425,467		423,270		418,420		413,880
Of which: Deposits from the public	435,217		361,645		352,260		347,344		338,494
Deposits from banks	6,591		3,520		4,528		3,649		4,077
Bonds and subordinated notes	23,490		26,853		30,024		29,058		33,560
Shareholders’ equity	39,873		38,181		37,544		35,863		34,047
Credit to the public not accruing interest income (NPL)	3,208		3,867		2,178		2,073		3,480
Additional data
Share price at end of year (in NIS)	22.0		28.7		23.7		25.6		22.9

	For the year ended December 31
	2020		2019		2018		2017		2016
Total dividend per share (in agorot)*⁽¹⁾	53.94		74.90		37.17		64.53		51.44
Average number of employee positions	9,027		9,392**		9,846**		10,351**		10,676**
Ratio of net interest income to average assets	1.77	%	2.05	%	1.97	%	1.87	%	1.80	%
Ratio of fees to average assets	0.63	%	0.71	%	0.73	%	0.74	%	0.82	%

* According to the date of declaration.
** Restated.
(1) Paid as a dividend in kind, in shares; calculated based on the value of Isracard shares on March 8, 2020 (NIS 10.91).

March 11, 2021 4:08 am

Trina Solar introduces the 670W Vertex Module with the efficiency up to 21.6%, marking the unstoppable trend of 600W+

PR Newswire

CHANGZHOU, China, March 11, 2021 /PRNewswire/ — At the PV Module Tech Conference on March 11, 2021, Trina Solar Co., Ltd. (“Trina Solar”) officially unveiled a new generation of ultra-high power Vertex module with a single panel power of 670W. The series has obtained the IEC certification from the TÜV Rheinland after passing complete reliability test, and realized the mass production. This marks an even higher milestone in the PV 6.0 era and demonstrates that 600W+ is unstoppable in the future.

According to Dr. Zhang Yingbin, Trina Solar’s head of product strategy and marketing department, the 670W Vertex series inherits the non-destructive cutting, high-density interconnection and other high-precision technologies of the 210mm modules; with the ultra-high module power, the single string power gets 34% higher than that of other 500W+ modules in the industry. In addition, 670W Vertex modules maximize the container space utilization in transportation, as a result of which the 12% up in the loading power and 5 – 7% down in the installation cost, creating more room for reduction of the LCOE and BOS cost.

The 670W Vertex modules inherit the four 210 key technologies

As a type of 210mm module, Trina Solar’s 670W Vertex bears non-destructive cutting, high-density interconnection, multi-busbar (MBB) and other forward-looking innovative technologies, with low voltage, high string power and other core features, presenting efficient and reliable product performance. The MBB and high-density interconnection improve the module efficiency to up to 21.6%, while the non-destructive cutting pioneered by Trina Solar significantly reduces the risks of cell micro crack and power loss.

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ntages, 34% higher power generation

Increasing in power of the single string is the core factor to reduce the BOS cost. At the launch of the 670W Vertex, Dr. Zhang Yingbin explained that in large-scale power plants (-20℃), the 670W Vertex has 28 modules on each string. Compared to other 500W+ high-power modules in the industry, the 670W Vertex module achieves a total power increase of up to 18,760W per string, 34% higher than that of the 500W+ modules.

670W Vertex module is suitable for large-scale power plants, especially the low-cost power plants which are very sensitive to investment costs, because the 670W modules can reduce the non-silicon cost of silicon wafers and cells for the upstream supply chain, and reduce the cost of trackers, pile foundations, cables and labor for the downstream. Compared to other 500W+ modules in the industry, BOS cost savings are at least 0.08-0.09 yuan per watt, hence with a significant overall advantage.

Complete reliability test, 12% falls in transportation cost and 5-7% falls in installation cost

At the launch conference, Trina Solar once again introduced the reliability the 670W product performed in transportation and installation.

Packaging & Transportation

For 600W+ series products, Trina Solar innovated the packaging method to vertical placement, so that the width of the modules is no longer limited by the height of the container. Such packaging makes the best use of the container’s internal capacity. Compared with the traditional ways, the loading power increases by 12%, which introduces a 12% cost reduction in transportation. In terms of safety, first of all, the factory packaging is completed by automatic equipment to ensure safety and efficiency; secondly, in the process of transportation, the modules pallets are closely arranged inside the container, to avoid shaking; finally, stable and reliable transfer was achieved at the project site to ensure safe delivery to the customers.

Installation

For the stage of unpacking and installation, Trina Solar provides simple and easy-to-use auxiliary tools with standard configuration, which can be used as the support of the box body to ensure the safety in the entire unpacking process. Many empirical studies have proved that 670W modules also support traditional installation methods. Meanwhile, the number of modules can be reduced by about 24% for 100-megawatt power plant thanks to the substantial increase in module power over 100W, leading to the overall installation cost reduction by 5% to 7%. In addition, Trina Solar has started to develop automatic installation machine, retaining only the delicate manual operations such as fastening screws. This will undoubtedly improve the installation efficiency, reduce the labor costs, and drive down the LCOE.

Mechanical loading performance

The load capacity of Trina Solar’s 670W modules is also tested. On one hand, the optimized frame design and material selection prevents the deformation even when the module area increases, and reduces the risk of micro crack. On the other hand, the non-destructive cutting ensures that each cutting surface of the cell is smooth and crack-free. Owing to these measures, the loading capacity of the 670W Vertex module can adhere to the industry mainstream standard of 5400 Pa positive load and 2400 Pa negative load.

The entire industry chain, inverters, trackers, glass supply, is ready to embrace the PV 600W+ era

At the beginning of this year, Huawei, Si-Neng, and Sungrow launched inverters compatible with the 600W+modules, and TBEA, GOODWE, Ginlong, Kstar, SMA and some other inverter manufacturers also announced their products compatible with high-power 210mm modules. Obviously, these 18.4A – 18.5A inverters will also be fully compatible with 670W modules.

Almost at the same time, eight world-leading PV tracker manufacturers – Arctech Solar, Array Technologies, GameChange Solar, IDEEMATEC, Nextracker, PVH, Soltec, TrinaTracker – announced trackers of full compatibility with 210mm ultra-high power modules.

In early March, glass manufacturers such as Xinyi, Flat, CNBM, Kibing and China Southern Glass also brought the news that they have broken through the bottleneck of width in PV glass raw materials production and started to fully adapt to the large-size 210 modules.

The 210mm modules, integrating high efficiency, high reliability, high power generation and low cost have been increasingly favored by the market, with tenders for large-size modules accounting for more than 78%. By the end of 2021, 210 modules production capacity is expected to achieve 120 GW in the entire industry. At Trina Solar, 210 modules will account for 70% to 80% of its overall shipments this year. As ultra-high power 600W+ modules becoming an unstoppable trend in the PV industry, the industry will continue to deliver more support for the innovative 210 solutions both upstream and downstream.

As Dr. Zhang Yingbin said, “As a leader in the industry, Trina Solar has been driven by innovative, reliable quality and customer value. The ultra-high power Vertex 670W module launched this time reveals higher feasibility in reducing the BOS cost and LCOE, which will help achieve the renewable energy goals and accelerate the PV industry’s pace to embrace the era of grid parity. This is profound importance for China’s PV industry to once again lead the world.”

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SOURCE Trina Solar

March 11, 2021 4:03 am

Sosei Heptares to receive US$2.5 million milestone payment from Formosa Pharmaceuticals

– Payment follows dosing of the first patient in a Phase 3 trial of APP13007 for the treatment of inflammation and pain after cataract surgery

– APP13007 originated at Activus Pharma, a former subsidiary of Sosei Heptares now owned by Formosa

– Sosei Heptares remains eligible to receive undisclosed milestone payments and royalties based on the progression of Activus’ pipeline at Formosa

PR Newswire

TOKYO and CAMBRIDGE, England, March 11, 2021 /PRNewswire/ — Sosei Group Corporation (“the Company”) (TSE: 4565) announces that Formosa Pharmaceuticals, Inc. (“Formosa”) has dosed the first patient in a 370-patient randomized Phase 3 clinical trial of APP13007 in the United States (ClinicalTrials.gov Identifier: NCT04739709). APP13007 is a nanoparticle formulation of a steroid in development for the treatment of inflammation and pain after cataract surgery. The milestone has triggered a US$2.5 million payment to Sosei Heptares from Formosa.

APP13007 was originally designed and developed at Activus Pharma Inc. (“Activus”), formerly a wholly owned subsidiary of the Company. Activus was divested in August 2017 to Formosa, a wholly owned subsidiary of Formosa Laboratories, Inc., a leading manufacturer of Active Pharmaceutical Ingredients (“APIs”) listed on the Taiwan Stock Exchange. The divestment was part of Sosei Heptares’ redirected growth strategy towards the design and development of new medicines originating from its proprietary GPCR-targeted StaR® technology and structure-based drug design platform capabilities.

Activus was originally developing APP13007 by applying its patented proprietary APNT (“Activus Pure Nanoparticle Technology”) to the steroid to create a novel nanoparticle formulation for treating post-operative inflammation of the eye. Since the divestment, Formosa has progressed the development of APP13007 and is now aiming to begin Phase 3 trials in the United States imminently.

Under the terms of the sale to Formosa in 2017, Sosei Heptares is entitled to receive undisclosed milestone payments based on progression of Activus’ pipeline as well as royalties from the commercialization of certain products should they reach the market.

Shinichi Tamura, Chairman, President and CEO of Sosei Heptares, said: “It is great to see the progress that Formosa has made advancing the development of APP13007. Entering Phase 3 trials is a fantastic achievement. We wish the Formosa team well in conducting this important trial and look forward to the results upon its completion.”

About Sosei Heptares

We are an international biopharmaceutical group focused on the discovery and early development of new medicines originating from our proprietary GPCR-targeted StaR® technology and structure-based drug design platform capabilities. We are advancing a broad and deep pipeline of novel medicines across multiple therapeutic areas, including neurology, immunology, gastroenterology and inflammatory diseases.

We have established partnerships with some of the world’s leading pharmaceutical companies, including AbbVie, AstraZeneca, Biohaven, Genentech (Roche), GSK, Novartis, Pfizer and Takeda and additionally with multiple emerging technology companies. Sosei Heptares is headquartered in Tokyo, Japan with corporate and R&D facilities in Cambridge, UK.

“Sosei Heptares” is the corporate brand and trademark of Sosei Group Corporation, which is listed on the Tokyo Stock Exchange (ticker: 4565). Sosei, Heptares, the logo and StaR® are trademarks of Sosei Group companies.

For more information, please visit https://www.soseiheptares.com/

LinkedIn: @soseiheptaresco | Twitter: @soseiheptaresco | YouTube: @soseiheptaresco

Enquiries:

Sosei Heptares
– Media and Investor Relations

Hironoshin Nomura, SVP Investor Relations and Corporate Strategy
+81 (0)3 6679 2178 | [email protected]

Shinichiro Nishishita, VP Investor Relations, Head of Regulatory Disclosures
+81 (0)3 5210 3399 | [email protected]

Citigate Dewe Rogerson (for Sosei Heptares)

Yas Fukuda – Japanese Media
+81 (0)3 4360 9234 | [email protected]

Mark Swallow, David Dible – International Media
+44 (0)20 7638 9571 | [email protected]

Forward-looking statements

This press release contains forward-looking statements, including statements about the discovery, development and commercialization of products. Various risks may cause Sosei Group Corporation’s actual results to differ materially from those expressed or implied by the forward-looking statements, including: adverse results in clinical development programs; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialize products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialization activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

View original content:http://www.prnewswire.com/news-releases/sosei-heptares-to-receive-us2-5-million-milestone-payment-from-formosa-pharmaceuticals-301245316.html

SOURCE Sosei Heptares

March 11, 2021 4:03 am

Nokia launches first commercial Service Enablement Platform to drive Open RAN innovation

Press Release

Nokia launches first commercial Service Enablement Platform to drive Open RAN innovation

First cloud-native, fully containerized commercial solution offers O-RAN compliant RAN programmability and AI/ML-based RAN optimization and automation capabilities
Latest milestone in Nokia’s commitment to support and lead O-RAN development

11 March 2021

Espoo, Finland – Nokia has today announced the launch of its Service Enablement Platform (SEP), the first commercial solution to deliver radio network programmability, Artificial Intelligence (AI) and Machine Learning (ML) innovation across the Open RAN (O-RAN) ecosystem. Nokia SEP launches with Nokia’s RIC xApps, including Advanced Traffic Steering and Anomaly Detection, which are currently in proofs-of-concepts and trials with major communication service providers (CSP).

Nokia SEP is the first platform to combine the near-real-time RAN Intelligent Controller (RIC) and Multi-access edge computing (MEC) together on a single platform, providing unique value and new innovative use cases. Nokia SEP leverages low-latency information to boost optimization through closed-loop automation and faster, more flexible service deployments. It also adds programmability with AI/ML technologies, enabling innovative RAN use cases, including Automated AI/ML-based network optimization xApps and enterprise-specific RAN adaptation. It is a single platform that deploys both RIC and MEC capabilities for intelligence and innovation, and it can be adapted for specific CSP or enterprise requirements.

Utilizing Nokia’s edge-optimized AirFrame servers, SEP can run on the edge and share infrastructure with Cloud RAN and other virtualized network functions. AirFrame Open Edge provides secured and high-performance ultra-small footprint edge cloud infrastructure for indoor and outdoor environments.

The platform launches with Nokia RIC xApps, a suite of plugins that give CSPs advanced control of 5G radio network use cases, including the Nokia Advanced Traffic Steering xApp, an AI/ML-based optimization algorithm that dynamically improves the efficiency of traffic distribution in the radio access network. It will also include the Nokia Anomaly Detection xApp, which uses machine learning to quickly detect and classify irregular behavior patterns in the RAN. SEP supports xApps from different providers.

Daryl Schoolar, practice leader for Service Provider Networks at Omdia, said “The level of activity in the Open RAN space has rapidly evolved over the last twelve months. Nokia’s latest announcement about implementing the O-RAN standardized near real-time RAN Intelligent Controller (RIC) function together with MEC on its Service Enablement Platform product which supports xApps from multiple sources, including third-party, reinforces Nokia´s firm commitment to O-RAN and Open RAN solutions.”

Pasi Toivanen, Head of Edge Cloud BU at Nokia, said: “Embracing open collaboration is key to the development of 5G use cases and harnessing the true power of the technology. Nokia’s Service Enablement Platform adds a new intelligence layer to the RAN and enables the creation of high-value add use cases. This is part of Nokia’s continued commitment to leading an open mobile future with a strong network performance and security. We are committed to making it easier for our CSP customers to actively support the adoption of Open RAN principles and standards.”

Nokia performed the first RIC trials in commercial networks and is actively engaging with major CSP and research groups globally with proof of concepts, trials, and development for O-RAN and RIC, including public trials with AT&T and China Mobile.

Nokia SEP Platform is available for CSPs starting from Q1 2021. Nokia is already working closely with CSPs to commercialize use cases (xApps) during 2021.

Resources

Webpage:

Service Enablement Platform

About Nokia

We create the critical networks and technologies to bring together the world’s intelligence, across businesses, cities, supply chains and societies.

With our commitment to innovation and technology leadership, driven by the award-winning Nokia Bell Labs, we deliver networks at the limits of science across mobile, infrastructure, cloud, and enabling technologies.

Adhering to the highest standards of integrity and security, we help build the capabilities we need for a more productive, sustainable and inclusive world.

For our latest updates, please visit us online www.nokia.com and follow us on Twitter @nokia.

Media Inquiries

Communications

Phone: +358 10 448 4900

E-mail: [email protected]

March 11, 2021 4:03 am

Sonnedix Selects Smartsheet to Drive Innovative HR Response for the Rapid Shift of Remote Working

Sonnedix Selects Smartsheet to Drive Innovative HR Response for the Rapid Shift of Remote Working

Streamlined Approach to Resources like Workforce Training Resulted in 1,000 Hour Increase Amidst the Pandemic

LONDON–(BUSINESS WIRE)–Smartsheet (NYSE:SMAR), the enterprise platform for dynamic work, today announced Sonnedix, an innovative global solar Independent Power Producer (IPP), selected Smartsheet to drive innovative initiatives around training, remote work, and health and safety to ensure the organisation’s culture stays inclusive and supportive.

Sonnedix develops, builds, owns and operates high-performance, cost-competitive solar plants that produce a continuous and reliable supply of clean energy. With more than 330 power plants in eight countries and a total operating capacity of over 1.5 GW, Sonnedix understood the benefits of effective team collaboration – in the wake of COVID-19 – was fundamental to its long-term success. Forced to adapt to the demands of mass remote working in a matter of days, Sonnedix expanded its use of Smartsheet to help implement new initiatives and support colleagues working through the pandemic.

“As a global business operating across multiple time zones, we needed a solution that could help us manage tasks in a structured way but with the flexibility to adapt quickly to the evolving situation impacting our teams across the world,” said Andrea Vecchi, Head of PMO at Sonnedix. “Employees have varying requirements and Smartsheet enabled us to support them appropriately and do all of that in one place, creating really clear visibility for the people in charge of making arrangements.”

Using Smartsheet, Sonnedix’s HR team rapidly created a portal with resources that allow employees to request and receive training. Global employees can now book and be approved for training sessions with Smartsheet automation. This is a significant process improvement over previous systems for booking training that mostly relied on emails and manual data capture in excel. Within six months, Sonnedix delivered more than 90 training sessions totaling over 1,000 hours, an achievement not possible with the company’s previous booking system.

“For organisations like Sonnedix with an international footprint, the impact of events like the pandemic can create a lot of operational and HR challenges – but also offer an opportunity to harness innovation to affect change,” said Kara Hamilton, Chief People and Culture Officer at Smartsheet. “Smartsheet provides any organization the ability to adapt quickly to evolving needs and allow leaders from within to build out solutions without the need for coding and developers, often seeing an impact in days instead of months.”

About Smartsheet

Smartsheet (NYSE: SMAR) is the enterprise platform for dynamic work. By aligning people and technology so organizations can move faster and drive innovation, Smartsheet enables its millions of users to achieve more. Visit www.smartsheet.com to learn more.

About Sonnedix

Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is a global solar Independent Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally, with a total controlled capacity of over 2 GW. Sonnedix continues to expand its global footprint across OECD countries, with more than 300 solar plants in operations, as well as several hundred MW under development in Italy, France, Spain, USA/Puerto Rico, Chile, South Africa and Japan. For more information, please visit www.sonnedix.com.

Forward-Looking Statements

This press release contains “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, statements about Smartsheet’s expectations regarding possible or assumed business strategies, channel and partner strategies, potential growth and innovation opportunities, new products, and potential market opportunities.

Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “believe,” “continue,” “could,” “potential,” “remain,” “will,” “would” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: our ability to achieve future growth and sustain our growth rate, our ability to attract and retain talent, our ability to attract and retain customers (including government customers) and increase sales to our customers, our ability to develop and release new products and services and to scale our platform, our ability to increase adoption of our platform through our self-service model, our ability to maintain and grow our relationships with channel and strategic partners, the highly competitive and rapidly evolving market in which we participate, our ability to identify targets for, execute on, or realize the benefits of, potential acquisitions, and our international expansion strategies. Further information on risks that could cause actual results to differ materially from forecasted results is included in our filings with the US Securities and Exchange Commission (SEC), including our Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2020 filed with the SEC on December 8, 2020. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210311005177/en/

Lindsay Bleier

[email protected]

KEYWORDS: Europe United States United Kingdom North America Washington

INDUSTRY KEYWORDS: Software Human Resources Internet Data Management Professional Services Technology Education Training

MEDIA:

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March 11, 2021 4:03 am

Viomi Technology Co., Ltd to Report Fourth Quarter and Full Year 2020 Financial Results on Thursday, March 25, 2021

Earnings Call Scheduled for 8:00 a.m. ET on March 25, 2021

GUANGZHOU, China, March 11, 2021 (GLOBE NEWSWIRE) — Viomi Technology Co., Ltd (“Viomi” or the “Company”) (NASDAQ: VIOT), a leading IoT @ Home technology company in China, today announced that it will report its fourth quarter and full year 2020 unaudited financial results on Thursday, March 25, 2021, before the open of the U.S. markets.

The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on March 25, 2021 (8:00 PM Beijing/Hong Kong time on March 25, 2021).

Dial-in details for the earnings conference call are as follows:

United States (toll free):	+1-888-346-8982
International:	+1-412-902-4272
Hong Kong (toll free):	800-905-945
Hong Kong:	+852-3018-4992
Mainland China (toll free):	400-120-1203
Conference ID:	10153115

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.viomi.com.

A replay of the conference call will be accessible by phone one hour after the conclusion of the live call at the following numbers, until April 1, 2021:

United States:	+1-877-344-7529
International:	+1-412-317-0088
Replay Access Code:	10153115

About Viomi Technology

Viomi’s mission is to redefine the future home via the concept of IoT @ Home.

Viomi has developed a unique IoT @ Home platform consisting an ecosystem of innovative IoT-enabled smart home products, together with a suite of complementary consumable products and value-added businesses. This platform provides an attractive entry point into the consumer home, enabling consumers to intelligently interact with a broad portfolio of IoT products in an intuitive and human-like manner to make daily life more convenient, efficient and enjoyable, while allowing Viomi to grow its household user base and capture various additional scenario-driven consumption events in the home environment.

For more information, please visit: http://ir.viomi.com.

For investor and media inquiries, please contact:

In China:

Viomi Technology Co., Ltd
Cecilia Li
E-mail: [email protected]

The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: [email protected]

In the United States:

The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

March 11, 2021 4:01 am

AAK implements satellite monitoring globally to support zero deforestation

PR Newswire

KARLSHAMN, Sweden, March 11, 2021 /PRNewswire/ — AAK AB (publ.) has taken a major step forward in delivering on its sustainability commitments by partnering with market-leading sustainability tech companies Earthqualizer and Satelligence that provide high-resolution satellite data. The partnerships allow AAK to monitor its global supply base for palm oil with great accuracy and in real time. This will make it possible to earlier detect signs of deforestation and take immediate action.

“This new innovative monitoring technology is an important part of AAK’s sustainability strategy and by 2025, our goal is that 100 percent of the palm oil that we source should be 100 percent verified deforestation-free”, said Johan Westman, President and CEO, AAK Group. “As co-founders of the RSPO (Roundtable on Sustainable Palm Oil), AAK’s ambition is to play a leading role in transforming the palm oil industry towards sustainability. By investing in these partnerships, we will contribute to the full visibility and verification of deforestation-free supply chains.”

Earthqualizer deploys a widely recognized and credible risk management tool that screens and monitors compliance with NDPE policies (No Deforestation, No Peat, No Exploitation) among palm oil refineries, mills, and plantations. The tool is particularly effective because of its scope which includes the verifying of parent company ownership.

Satelligence helps companies achieve a deforestation-free sourcing and production of palm oil, cocoa, coffee, soy, and other commodities. Building on artificial intelligence, satellite technology, and supply chain data, the company provides daily insights into the global performance of agricultural production and supply chain risks. Satelligence maps and monitors forests, planted palm areas, deforestation, and fire impact.

“With insights from satellite monitoring and compliance data from risk assessments, we are able to more quickly identify risks of deforestation and conversion of peatlands so that we can engage with suppliers to take appropriate actions leading to measurable progress towards our commitments”, said Anne Mette Olesen, Chief Strategy & Sustainability Officer at AAK. “The two systems cover our global supply base for palm, and we are already seeing the benefits of our monitoring activities.”

Aside from committing to deforestation-free and conversion-free palm and soy supply chains by 2025, AAK has recently signed up to set binding targets for CO₂ emissions reductions to be approved by the Science Based Targets initiative (SBTi). Towards the end of 2020, the company also signed the first global Sustainable Coconut Charter, which aims to improve farmer livelihoods, lessen the carbon footprint of coconuts, and boost supply to meet rising global demand.

For more information, please contact:

Anne Mette Olesen	Tim Stephenson
Chief Strategy & Sustainability Officer	President Global Sourcing & Trading
Mobile: +46 708 39 93 14	Mobile: +44 7768 822 031
E-mail: [email protected]	E-mail: [email protected]

The information was submitted for publication at 9:30 a.m. CET on March 11, 2021.

About AAK

Everything AAK does is about Making Better Happen™. We specialize in plant-based oils that are the value-adding ingredients in many of the products people love to consume. We make these products better tasting, healthier, and more sustainable. At the heart of AAK’s offer is Customer Co-Development, combining our desire to understand what better means for each customer, with the unique flexibility of our production assets, and a deep knowledge of many products and industries, including Chocolate & Confectionery, Bakery, Dairy, Plant-based Foods, Special Nutrition, Foodservice and Personal Care. Our 3,900 employees support our close collaboration with customers through 25 regional sales offices, 15 dedicated Customer Innovation Centers, and with the support of more than 20 production facilities. Listed on Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has been Making Better Happen for 150 years.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aak-ab/r/aak-implements-satellite-monitoring-globally-to-support-zero-deforestation,c3304509

The following files are available for download:

https://mb.cision.com/Main/871/3304509/1385380.pdf

Press release (PDF)

View original content:http://www.prnewswire.com/news-releases/aak-implements-satellite-monitoring-globally-to-support-zero-deforestation-301245321.html

SOURCE AAK AB

March 11, 2021 3:56 am

Ryvu Therapeutics to Present Recent Data from Multiple Oncology Programs at AACR 2021 Virtual Annual Meeting

PR Newswire

KRAKOW, Poland, March 11, 2021 /PRNewswire/ — Ryvu Therapeutics (WSE: RVU), a clinical-stage drug discovery and development company focusing on novel small molecule therapies that address emerging targets in oncology, announced today that its data from multiple oncology programs will be presented at the upcoming American Association of Cancer Research (AACR) Virtual Annual Meeting 2021, April 10-15 and May 17-21.

Data presented will include results from the RVU120 (SEL120), a CDK8/CDK19 inhibitor program, as well as data from small-molecule STING agonists and HPK1 inhibitor projects.

“We are very excited with the possibility to share data from our most advanced fully-owned oncology program – RVU120 (SEL120) – which is currently in Phase 1b clinical development for the treatment of acute myeloid leukemia (AML) or high-risk myelodysplastic syndromes (HRMDS). We made a lot of progress in translational research concerning RVU120 and we look forward to sharing it with the scientific community” – said Krzysztof Brzózka, Chief Scientific Officer at Ryvu Therapeutics.

“At the same time, we are pleased to present the most recent data from our two preclinical immuno-oncology projects, which we consider as very promising assets in our pipeline” – added Brzózka.

Details of the e-poster presentations are as follows:

Title: SEL120, a CDK8/CDK19 inhibitor, possesses strong multilineage differentiation potential in AML

Permanent Abstract Number: 1018

Title: New generation of STING agonists – development and characterization of a novel series of systemic immunomodulators with improved potency

Permanent Abstract Number: 1280

Title: Development and characterization of small molecule HPK1 inhibitors

Permanent Abstract Number: 1281

The e-poster website will be launched on Saturday, April 10, which is the first day of the AACR Virtual Annual Meeting. All e-posters will be made available for browsing on this date through to June 21, 2021.

Additional information is available at on the AACR conference website http://www.aacr.org.

About AACR Annual Meeting

The AACR Annual Meeting program covers the latest discoveries across the spectrum of cancer research—from population science and prevention, to cancer biology, translational, and clinical studies; to survivorship and advocacy—and highlights the work of the best minds in research and medicine from institutions all over the world.

About Ryvu Therapeutics

Ryvu Therapeutics is a clinical stage drug discovery and development company developing novel small molecule therapies that address emerging targets in oncology. Pipeline candidates make use of diverse therapeutic mechanisms driven by emerging knowledge of cancer biology, including small molecules directed at kinase, synthetic lethality and immuno-oncology targets. RVU120 (SEL120) is a selective CDK8/CDK19 kinase inhibitor with potential for the treatment of hematological malignancies and solid tumors currently in Phase 1b clinical development for the treatment of acute myeloid leukemia and myelodysplastic syndrome. The second clinical program of Ryvu is SEL24/MEN1703, a dual PIM/FLT3 kinase inhibitor licensed to the Menarini Group, currently in Phase II clinical studies in acute myeloid leukemia. Other Ryvu programs developed through internal discovery platform are focused on new oncology targets.

The Company was founded in 2007 (until 2019 operating under the name Selvita S.A.) and currently employs more than 150 associates, including more than 80 PhDs. Ryvu is headquartered in Krakow, Poland.

Ryvu Therapeutics is listed on the main market of the Warsaw Stock Exchange, and has been a component of sWIG80 index since March 2017. For more information, please see www.ryvu.com.

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SOURCE Ryvu Therapeutics

March 11, 2021 3:51 am

Mhome Builds Bright Future for Prefabricated Housing, Wins Two International Design Awards

PR Newswire

WUHAN, China, March 11, 2021 /PRNewswire/ — Mhome Group (000667.SZ), a leading Chinese real estate developer headquartered in Wuhan, has won two international design awards – the Grand Prix Design Paris (GPDP) Award and 2020 APDC Prize Space Wizards Award – for its prefabricated residential project, Mhome 1 Yungu Road in Hefei, Anhui Province.

The two awards promote the sharing of global design resources and cross-regional exchanges and are highly regarded in the global industrial design field. Mhome’s project was recognized for its innovative design, construction quality, living experience and value. Before receiving these international honors, the project, which was widely recognized in China, had already won the Overall Quality Real Estate Award at the 15^th Kinpan Awards, one of the most prominent professional awards in the Chinese real estate and design industry.

“The awards reflect the industry’s approval of Mhome products and design innovation. We hope to interpret life with our work and conquer the market with quality,” said Liu Daoming, Chairman of Mhome.

The project, embodying Mhome’s vision and craftsmanship for urban residential product, was sold out within the first month with a total of CNY660 million ($US101.6 million).

Mhome, as the industry’s first company to propose full-furnishing delivery and move-in ready standards, focuses on building A-level prefabricated demonstration projects and providing integrated solutions for intelligent housing manufacturing.

The company was rated by China’s Ministry of Housing and Urban-Rural Development (MOHURD) as a “National Prefabricated Construction Industry Base”. On February 2, Mhome’s Tianfu Project in Chongqing was listed as one of the intelligent construction demonstration projects by MOHURD, further consolidating its leading position in the industry.

The project with an overall floorage of 145,590 square meters (0.056 square miles) and over 20 high-rise residential buildings adopts the Composite Shear Wall System and has a prefabrication rate of 65 percent.

The achievement was the result of Mhome’s advanced intelligent manufacturing and intelligent construction capabilities, as it continues to build an industry-leading real estate company with strengthened advantages in R&D, design, and manufacturing.

About Mhome Group

Established in 1989, Mhome Group (000667.SZ) is a developer of residential and urban home properties and provider of urban and rural construction services. Headquartered in Wuhan, China, Mhome is now a listed company with a prominent presence in multiple industries including smart housing manufacturing, modern agriculture, and industrial revitalization of small towns.

http://en.000667.com/

View original content:http://www.prnewswire.com/news-releases/mhome-builds-bright-future-for-prefabricated-housing-wins-two-international-design-awards-301245309.html

SOURCE Mhome Group