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HSINCHU, July 9, 2021 /PRNewswire-FirstCall/ — ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services (“OSAT”), today reported new quarterly and monthly record levels for unaudited consolidated revenue for the month of June 2021 and for the second quarter ended June 30, 2021. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$27.91 to US$1.00 as of June 30, 2021.

Revenue for the second quarter of 2021 increased 28.6% on a year over year basis to NT$6,982.3 million or US$250.2 million, representing an increase of 8.0% from the first quarter of 2021. The Company noted its record high revenue level is being driven by strong demand with a high UT level of test lines, and its memory assembly capacity is remaining fully utilized.

Revenue for the month of June 2021 increased 32.3% on a year over year basis to NT$2,360.3 million or US$84.6 million, representing an increase of 0.9% compared to May 2021.  

 

About ChipMOS TECHNOLOGIES INC.:

ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (https://www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS provide assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.

Forward-Looking Statements

This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors, including the ongoing impact of COVID-19.  Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange commission (the “SEC”) and in the Company’s other filings with the SEC.

Contact
s
:

 

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SOURCE ChipMOS TECHNOLOGIES INC.

SHANGHAI
, July 9, 2021 /PRNewswire/ — Four Seasons Education (Cayman) Inc. (“Four Seasons Education” or the “Company”) (NYSE: FEDU), a leading Shanghai based educational company dedicated to providing comprehensive after-school education services with a focus on high-quality math education, today announced that it has received a letter from the New York Stock Exchange (the “NYSE”) dated June 22, 2021, notifying Four Seasons Education that it is below compliance standards due to the trading price of Four Seasons Education’s American depositary shares (the “ADSs”). 

Pursuant to NYSE rule 802.01C, a company will be considered to be below compliance standards if the average closing price of a security as reported on the consolidated tape is less than $1.00 over a consecutive 30 trading-day period. Once notified, the company must bring its share price and average share price back above $1.00 by six months following receipt of the notification. The company can regain compliance at any time during the six-month cure period if on the last trading day of any calendar month during the cure period the company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. In the event that at the expiration of the six-month cure period, both a $1.00 closing share price on the last trading day of the cure period and a $1.00 average closing share price over the 30 trading-day period ending on the last trading day of the cure period are not attained, the NYSE will commence suspension and delisting procedures.

To address this issue, Four Seasons Education intends to monitor the market conditions of its listed securities and is still considering its options.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements, including the statements relating to the Company’s future financial and operating results, are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. Among other things, management’s quotations and the Business Outlook section contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Potential risks and uncertainties include, but are not limited to, those relating to its ability to attract new students and retain existing students, its ability to deliver a satisfactory learning experience and improving their academic performance, PRC regulations and policies relating to the education industry in China, general economic conditions in China, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE or other stock exchange, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by the Company is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 20-F.

About Four Seasons Education (Cayman) Inc.

Four Seasons Education (Cayman) Inc. is a leading Shanghai based educational company dedicated to providing comprehensive after-school education services with a focus on high-quality math education. The Company’s vision is to unlock students’ intellectual potential through high quality and effective education that can profoundly benefit students’ academic, career and life prospects. The Company provides educational programs that are primarily focused on elementary-level math and have expanded in recent years to also include other subjects, including physics, chemistry, and languages, and other grade levels, such as middle school programs, as well as other programs including interest-oriented programs and programs catering for kindergarten students. The Company’s proprietary educational content is designed to cultivate students’ interests and enhance their cognitive and logic abilities. The Company develops its educational content through a systematic development process and updates it regularly based on student performance and feedback. Such process allows the Company to effectively drive better learning outcomes and serve students of different ages, aptitude levels and learning objectives. The Company’s faculty is led by a group of experienced senior educators, including recognized scholars and award-winning teachers. Over the years, the quality of the Company’s education services has been demonstrated by its student outstanding academic performance.

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

For investor and media inquiries, please contact:

In China:
Four Seasons Education (Cayman) Inc.
Olivia Li
Tel: +86 (21) 6317-6678
E-mail: [email protected]

The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: [email protected]

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

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SOURCE Four Seasons Education Inc.

LAKE OSWEGO, Ore., July 9, 2021 /PRNewswire/ — The Greenbrier Companies, Inc. (NYSE: GBX) (“Greenbrier”), a leading international supplier of equipment and services to global freight transportation markets, today reported financial results for its third fiscal quarter ended May 31, 2021.

Third Quarter Highlights

• New railcar orders for 3,800 units valued at $400 million and deliveries of 3,300 units, resulted in a 1.2x book-to-bill. This is the second consecutive quarter that book-to-bill exceeded 1.0x. Orders included intermodal units, tank cars, boxcars and covered hoppers.
• Diversified new railcar backlog as of May 31, 2021 was 24,800 units with an estimated value of $2.6 billion.
• Liquidity of approximately $850 million, including $628 million in cash and $221 million of available borrowing capacity. Liquidity and $149 million of initiatives in progress total nearly $1 billion.
• COVID-19 related expenses for the quarter were $1.9 million (pre-tax) and $8.3 million (pre-tax) for the nine months ended May 31, 2021.
• Net earnings attributable to Greenbrier for the quarter were $19.7 million, or $0.59 per diluted share, on revenue of $450 million. Net earnings included $3.6 million ($0.10 per share), of loss on extinguishment of debt, net of tax.
• Adjusted net earnings attributable to Greenbrier for the quarter were $23.3 million or $0.69 per diluted share and adjusted EBITDA for the quarter was $53 million.
• GBX Leasing was formed in the quarter to create stable, tax-advantaged cash flows with initial railcar funding of nearly $100 million, under a $300 million non-recourse warehouse credit facility. GBX Leasing is consolidated in Greenbrier’s financial statements, see supplemental information in this release.
• Debt maturities were extended in the quarter with the issuance of $374 million of senior convertible notes due in 2028 and retirement of $257 million of 2024 senior convertible notes.
• Repurchased $20 million of common stock in connection with the convertible note issuance. $100 million remains authorized under the share repurchase plan.
• Board declares a quarterly dividend of $0.27 per share, payable on August 18, 2021 to shareholders of record as of July 28, 2021 representing Greenbrier’s 29^th consecutive quarterly dividend.

William A. Furman, Chairman & CEO commented, “Greenbrier’s financial results for the third fiscal quarter reflect the steady recovery in our markets that we forecasted would occur in the second half of our fiscal year. Our COVID strategy launched in March 2020 has been very successful. We are executing well on plans to maintain a liquidity base and strong balance sheet as well as safely operate each of our facilities. All of this has been necessary to prepare for the now emerging recovery.  As positive momentum continues, we are seizing opportunities to resume the pursuit of scale we began during the two years prior to the pandemic. In the third fiscal quarter this included the formation of GBX Leasing and completion of a strategic debt refinancing that extended maturities on convertible notes by four years.”

Furman added, “We are benefiting from the economic recovery in railcar manufacturing and leasing as expected. This is playing out through sequential monthly increases in manufacturing revenues and a meaningful increase in new order activity in our core North American markets.  The ability to ramp production capacity is integral to protecting Greenbrier’s leadership position in the market.  New orders will not increase linearly, but we expect commercial activity to remain strong as our $2.6 billion backlog provides a baseload of orders to support the expanded operation of production lines and our leasing business.”

Business Update & Outlook

Greenbrier’s adherence to its core COVID strategy during the third fiscal quarter produced the best quarterly performance to date in fiscal 2021. Since March 2020, Greenbrier has practiced disciplined management to meet the realities of this once in 100 years pandemic. Operating and commercial momentum is building. In our domestic and international markets, Greenbrier’s core COVID strategy was and continues to be:

1. Maintain a strong liquidity base and balance sheet
2. Navigate the COVID-19 pandemic and the related economic crisis by safely operating our factories while generating cash flow
3. Prepare for emerging economic recovery and forward momentum in our markets. Greenbrier is currently operating in this phase.  Greenbrier is well-positioned to navigate the immediate challenges of increasing production rates safely amidst the emerging COVID variants, while ensuring labor and supply chain continuity.

Looking ahead, Greenbrier expects the fourth quarter to be the strongest performance of the year.  A full quarter of increased production rates and business activity creates positive momentum into fiscal 2022.

Financial Summary

Segment Summary

Conference Call

Greenbrier will host a teleconference to discuss its third quarter 2021 results. In conjunction with this news release, Greenbrier has posted a supplemental earnings presentation to our website. 
Teleconference details are as follows:

• July 9, 2021
• 8:00 a.m. Pacific Daylight Time
• Phone: 1-888-317-6003 (Toll Free) 1-412-317-6061 (International), Entry Number “2776228”
• Real-time Audio Access: (“Newsroom” at http://www.gbrx.com)

Please access the site 10-15 minutes prior to the start time. 

About Greenbrier

Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Through its wholly-owned subsidiaries and joint ventures, Greenbrier designs, builds and markets freight railcars and marine barges in North America, Europe and Brazil. We are a leading provider of freight railcar wheel services, parts, repair, refurbishment and retrofitting services in North America through our wheels, repair & parts business unit.  Greenbrier manages 445,000 railcars and offers railcar management, regulatory compliance services and leasing services to railroads and other railcars owners in North America.  GBX Leasing (GBXL) is a special purpose subsidiary that owns and manages a portfolio of leased railcars that originate primarily from Greenbrier’s manufacturing operations. Together, GBXL and Greenbrier own a lease fleet of 8,700 railcars.  Learn more about Greenbrier at www.gbrx.com.

 

 

 

Supplemental Leasing Information

(In thousands, except owned and managed fleet, unaudited)

GBX Leasing (GBXL) was formed in April 2021 as a joint venture with The Longwood Group to own and manage a portfolio of leased railcars primarily built by Greenbrier.  Greenbrier owns approximately 90% of GBXL and consolidates it in Greenbrier’s financial statements in the Leasing & Services segment.  Longwood was formed in 2018 by D. Stephen Menzies to pursue a range of commercial investments in equipment transportation markets following his successful growth of Trinity Rail’s leasing business over many years.  GBXL adds an additional “go to market” element to Greenbrier’s Commercial strategy of direct sales, partnerships with operating leasing companies, origination of leases for syndication partners as well as providing a platform for further growth at scale.  GBXL will produce strong tax-advantaged cash flows.  The goal is to add at least $200 million in railcar assets annually at about 3:1 debt to equity (or 75%) based on the fair market value of assets.  During the quarter, an initial $300 million non-recourse warehouse credit facility was secured, and $129 million in fair market value of assets were acquired from Greenbrier’s transaction flow.  Over time the entity is expected to grow by at least $200 million in assets annually with a five year target of $1 billion of assets.  The intent is to use the asset-backed securities market to refinance the warehouse facility and to convert to permanent financing before 2025 as scale and portfolio balance are achieved.  Considerable tax benefits are generated from these investments, which are included in the consolidated financial results this year.

Key information for the consolidated Leasing & Services segment

 

 

 

 

 

 

 “SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:  This press release may contain forward-looking statements, including any statements that are not purely statements of historical fact. Greenbrier uses words, and variations of words, such as  “adjust,” “allow,” “anticipate,” “continue,” “estimate” “expect,” “goal,” “intend,” “maintain,” “outlook,” “position,” “prepare,” “reduce,” “will,” and similar expressions to identify forward-looking statements. These forward-looking statements include, without limitation, statements about backlog, leasing performance, financing, and future liquidity and cash flow as well as other information regarding future performance and strategies and appear throughout this press release including in the headlines and the sections titled “Third Quarter Highlights,” “Business Update & Outlook” and “Supplemental Leasing Information.” These forward-looking statements are not guarantees of future performance and are subject to certain risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements. Factors that might cause such a difference include, but are not limited to, the following. (1) We are unable to predict when, how, or with what magnitude COVID-19, variants thereof, and governmental reaction thereto, and related economic disruptions will negatively impact our business: we may be prevented from operating our facilities; the operations of our customers may be disrupted increasing the likelihood that our customers may attempt to delay, defer or cancel orders,  or cease to operate as going concerns; the operations of our suppliers may be disrupted; our indebtedness may increase; we may breach the covenants in our credit agreement; the market price of our common stock may drop or remain volatile; we may incur significant employee health care costs under our self-insurance programs. We may not be able to effectively participate in the economic recovery following the pandemic, if any. The longer the pandemic continues, the more likely that negative impacts on our business will occur, some of which we cannot now foresee. (2) Our backlog of railcar units and marine vessels is not necessarily indicative of future results of operations. Certain orders in backlog are subject to customary documentation which may not occur. Customers may attempt to cancel or modify orders or refuse to accept and pay for products. The likelihood of cancellations, modifications, rejection and non-payment for our products generally increases during periods of market weakness. The timing of converting backlog to revenue is also materially impacted by our decision whether to lease railcars, sell railcars, or syndicate railcars with a lease attached to an investor. (3) Our joint ventures, including our leasing joint venture, may not perform as anticipated or expected. More information on potential factors that could cause our results to differ from our forward-looking statements is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic report on Form 10-K and subsequent reports on 10-Q. Except as otherwise required by law, the Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s opinions only as of the date hereof.

Adjusted Financial Metric Definitions

Adjusted EBITDA, Adjusted net earnings (loss) attributable to Greenbrier and Adjusted diluted EPS are not financial measures under generally accepted accounting principles (GAAP). These metrics are performance measurement tools used by rail supply companies and Greenbrier. You should not consider these metrics in isolation or as a substitute for other financial statement data determined in accordance with GAAP. In addition, because these metrics are not a measure of financial performance under GAAP and are susceptible to varying calculations, the measures presented may differ from and may not be comparable to similarly titled measures used by other companies.

We define Adjusted EBITDA as Net earnings (loss) before Interest and foreign exchange, Income tax benefit (expense), Depreciation and amortization and excluding the impact associated with items we do not believe are indicative of our core business or which affect comparability. We believe the presentation of Adjusted EBITDA provides useful information as it excludes the impact of financing, foreign exchange, income taxes and the accounting effects of capital spending. These items may vary for different companies for reasons unrelated to the overall operating performance of a company’s core business. We believe this assists in comparing our performance across reporting periods.

Adjusted net earnings (loss) attributable to Greenbrier and Adjusted diluted EPS excludes the impact associated with items we do not believe are indicative of our core business or which affect comparability. We believe this assists in comparing our performance across reporting periods.

 

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SOURCE Greenbrier Companies, Inc.

SHANGHAI, July 9, 2021 /PRNewswire/ — With the evolving landscape of the global automotive industry, Cango Inc. (NYSE: CANG) (“Cango” or the “Company”) is issuing a bi-monthly industry insight called “CANGO Auto View” to bring readers, drivers and passengers up to speed with what’s on offer in the automobile market, what trends are emerging, and what holes need to be plugged.

Below is an article from the Company’s 3rd edition for February 2021.

Besides mobility, investors have their eyes on another market – one that is even more technology-driven – the onboard system and human-vehicle interaction. Distinct from the PC era and the mobile era, human-vehicle interaction in the auto context introduces disruptive changes. The reason smart vehicle operation is different from the immersion-style operation of a mobile system is that when the onboard system is in use during driving, 95% of the user’s focus is on driving behavior and only about 5% of their energy and time can be spared to control the onboard system. Different scenarios will lead to dramatic changes in the information carrier ─ changing from text to voice, motion and other forms. 

Statistics show that a user’s sight and attention cannot be focused on the onboard system for more than three seconds. Within those three seconds, if the user fails at the operation or repeats the operation until the task is completed, the behavior is considered very dangerous and the cost of trial and error high. This, therefore, dictates that the functional logic and information layout of the onboard system be presented in the best way in the shortest time. The specific result achieved is that the design of human-vehicle interaction is closely aligned with user needs and interactive behavior rules in real scenarios so as to ensure that information transmission is extremely efficient.  

In future, a large number of physical buttons will be replaced by other input methods, especially tough and voice methods. Touch control will improve accuracy, effective feedback mechanisms will be developed, and the application of gesture control will be expanded in middle-to-high-end models. In the meanwhile, because of its convenience and humanization, voice control will become the main interactive method with the advancement of AI technology. And biometric technology will be applied and developed in areas such as fatigue monitoring and eyeball tracking.

Take the voice system for example. At present, human-vehicle interaction is achieved through two types of technology: a speech recognition system and a natural language processing system. 

A speech recognition system is mainly used to recognize, distinguish and verify the voice of each speaker, and the representative company is Baidu. With an accuracy rate of 98%, its system has reached a near-mature stage, enabling a voice interaction that can support different languages and dialects.

Natural language processing system, on the other hand, automatically understands human languages and approaches human thinking modes. The representative company is iFLYTEK with an accuracy rate of 70% and room for breakthroughs. 

As for facial and gesture recognition system for vehicle owners, it mainly uses computer visual technology to extract facial and graphic information from images. The representative company is SenseTime with an accuracy rate of 99% and capability of delivering near-mature products.

Internet technology giants such as BAT and Huawei are the major providers of the aforementioned applications, while iFLYTEK, SenseTime, AISpeech and Yitu are active players in the AI application field, each with its own strengths. iFLYTEK went IPO more than one decade ago, while SenseTime, Yitu and AISpeech are inching infinitely closer to IPO.

Onboard infotainment

The smart devices and software services “hidden” inside smart vehicles have been attracting serious investment over recent years. At present, the most obvious consumer-related functions smart vehicles are capable of cover five main areas: navigation and positioning, multimedia, vehicle services, consumption and payment, and communication and social networking.

Navigation and positioning at present mainly encompasses synchronous precise positioning, real-time road conditions, best route, 3D route guidance, 3D navigation and precise map navigation. 

The second area is multimedia. At present, it mainly encompasses radio, audio playback, video playback, mobile TV, electronic photo album, life information inquiry and games.

The third area is vehicle services. At present, it mainly encompasses surveillance and anti-theft, call service, road assistance, remote diagnosis, assisted driving, vehicle insurance, and seat and air conditioning control.

The fourth area is consumption and payment. At present, it mainly encompasses smart fueling, in-car payment, multiple payment platform, shopping and consumption, movie ticket purchase, food takeout and flight tickets.

Currently, platform-level companies are still emerging in this area. Taking into consideration license payment and other factors, this type of services should mainly be provided by the emerging carmakers and mobile payment giants.

And the fifth area is multimedia. At present, it mainly encompasses Bluetooth communication, mobile wireless network, onboard SMS, email, onboard WeChat and mobile office.

The emerging carmakers have taken the lead in this area, developing APPs capable of vehicle owner authentication and providing socializing platforms for both insiders and strangers. It remains to be seen whether internet giants Tencent and Kind can take over socializing in an auto scenario by catering to different scenarios.  

Onboard camera and radar

In addition to onboard software, smart vehicles are undergoing tremendous changes in hardware due to the widespread use of driverless technology, and these changes have bred a large number of investment opportunities.

For example, for a smart vehicle in the driving mode, its judgment logic is similar to that of a person walking. The eyes first detect obstacles and routes, then the brain makes analyses and decisions on whether to avoid the obstacles or to go straight. The eyes of a smart vehicle mainly consist of cameras, LiDARs, high-precision maps and GPS positioning. And sensing devices including cameras and radars are mainly responsible for collecting information around the body of the vehicle and determining the location of the vehicle.

At present, Tesla has a relatively comprehensive understanding of sensor systems smart vehicles should be equipped with, while the emerging carmakers in China have been lingering in the learning mode for a long while. Based on what Musk has been saying in public, no big changes will be made to Tesla’s onboard sensors in the future. Public information shows that as a standard, Tesla vehicles are equipped with eight cameras, one millimeter-wave radar and twelve ultrasonic radars. 

Up till now, the emerging carmakers in China have mostly adopted Tesla’s plan. However, information from the official channels of various platforms has pointed at LiDAR being used by multiple auto brands in the future. Xpeng, in fact, has claimed that it will achieve self driving through the fusion method of camera + millimeter-wave radar + ultrasonic radar + LiDAR. 

During the 2020 Guangzhou Auto Show, Wang Jun, President of Huawei’s Smart Vehicle Solutions BU, said in a media interview that Huawei’s LiDAR has become a hot product snapped up by auto companies and that Huawei was considering a release in the near future of its entire array of LiDAR products. At the same time, Huawei revealed through public channels that it is conducting LiDAR studies, hoping to not only enhance LiDAR accuracy but reduce the price to below 200 US dollars.

In other words, accuracy improvement and cost reduction of various radars are highly likely to add crucial competition barriers for the branding of the emerging carmakers. 

Due to its unique industry characteristics, the sensor field hasn’t triggered wide-ranging discussions in the venture capital field. The main reasons are as follows: One, sensor manufacturers have limited capacities for growth and the return on investment rate is not as high as that of the internet industry. Two, currently there are not many fields requiring sensor applications. And three, R&D teams under OEMs have multiple advantages in terms of team, time and capital.  

Nonetheless, the advent of the smart manufacturing era is bound to boost the use of sensors in smart vehicles and other fields, and their market potential is huge indeed.

About Cango Inc.

Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China connecting dealers, financial institutions, car buyers, and other industry participants. Founded in 2010 by a group of pioneers in China’s automotive finance industry, the Company is headquartered in Shanghai and engages car buyers through a nationwide dealer network. The Company’s services primarily consist of automotive financing facilitation, car trading transactions, and after-market services facilitation. By utilizing its competitive advantages in technology, data insights, and cloud-based infrastructure, Cango is able to connect its platform participants while bringing them a premium user experience. Cango’s platform model puts it in a unique position to add value for its platform participants and business partners as the automotive and mobility markets in China continue to grow and evolve. For more information, please visit: www.cangoonline.com.

Media Contact:

Juliet Ye

Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: [email protected]
Twitter: https://twitter.com/Cango_Group

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SOURCE Cango Inc.

DENVER, July 9, 2021 /PRNewswire/ — Today, the Board of Trustees (the “Board”) for the Clough Global Opportunities Fund (the “Fund”) has declared a monthly cash distribution of $0.1087 per common share, payable on the dates noted below. The Fund’s managed distribution policy is to set the monthly distribution rate at an amount equal to one twelfth of 10% of the Fund’s adjusted year-ending net asset value per share (“NAV”), which will be the average of the NAVs as of the last five business days of the prior calendar year.

The following dates apply to the distributions declared:

Ex-Date: July 19, 2021 
Record Date: July 20, 2021
Payable Date: July 30, 2021

Ex-Date: August 19, 2021
Record Date: August 20, 2021
Payable Date: August 31, 2021

Ex-Date: September 20, 2021
Record Date: September 21, 2021
Payable Date: September 30, 2021

A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions, including the percentage of qualified dividend income, will be made after year-end.

The Clough Global
Opportunities
Fund
The Fund is a closed-end fund with an investment objective of providing a high level of total return. The Fund seeks to achieve this objective by applying a fundamental research-driven investment process and will invest in equity and equity-related securities as well as fixed income securities, including both corporate and sovereign debt. Utilizing Clough Capital Partners L.P.’s (“Clough Capital”)  global research capabilities, the Fund will invest in both U.S. and non-U.S. markets. The Fund’s portfolio managers are Chuck Clough and Rob Zdunczyk. As of June 30^th, 2021 the Fund had approximately $829.2 million in total assets. More information, including the Fund’s dividend reinvestment plan, can be found at www.cloughglobal.com or call 877-256-8445.

Clough Capital Partners L.P.
Clough Capital is a Boston-based investment advisory firm which manages approximately $2.4 billion in assets: $818 million in hedge fund and institutional accounts; $120 million in open-end mutual funds; and $1.5 billion in three closed-end funds (as of March 31, 2021) – Clough Global Dividend and Income Fund (GLV), Clough Global Equity Fund (GLQ), and Clough Global Opportunities Fund (GLO).

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain an annual report or semi-annual report which contains this and other information visit

www.cloughglobal.com

or call 877-256-8445. Read them carefully before investing.

The Clough Global Opportunities Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market’s value.        

Forward-looking statements are based on information that is available on the date hereof, and neither the fund manager nor any other person affiliated with the fund manager has any duty to update any forward-looking statements. Important factors that could affect actual results to differ from these statements include, among other factors, material, negative changes to the asset class and the actual composition of the portfolio.

ALPS Portfolio Solutions Distributor, Inc, FINRA Member Firm.

 

Clough Global Opportunities Fund (NYSE MKT: GLO)
1290 Broadway, Suite 1000
Denver, CO 80203

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SOURCE Clough Global Opportunities Fund

DENVER, July 9, 2021 /PRNewswire/ — Today, the Board of Trustees (the “Board”) for the Clough Global Equity Fund (the “Fund”) has declared a monthly cash distribution of $0.1341 per common share, payable on the dates noted below. The Fund’s managed distribution policy is to set the monthly distribution rate at an amount equal to one twelfth of 10% of the Fund’s adjusted year-ending net asset value per share (“NAV”), which will be the average of the NAVs as of the last five business days of the prior calendar year.

The following dates apply to the distributions declared:

Ex-Date: July 19, 2021
Record Date: July 20, 2021
Payable Date: July 30, 2021

Ex-Date: August 19, 2021
Record Date: August 20, 2021
Payable Date: August 31, 2021

Ex-Date: September 20, 2021
Record Date: September 21, 2021
Payable Date: September 30, 2021

A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions, including the percentage of qualified dividend income, will be made after year-end

The Clough Global Equity Fund

The Fund is a closed-end fund utilizing Clough Capital Partner L.P.’s (“Clough Capital”) research-driven, thematic process, with an investment objective of providing a high level of total return. Having a global, flexible mandate, the Fund will invest at least 80% in equity and equity-related securities in both U.S. and non-U.S. markets, and the remainder in fixed income securities, including corporate and sovereign debt, in both U.S. and non-U.S. markets. The Fund’s portfolio managers are Chuck Clough and Rob Zdunczyk. As of June 30^th, 2021 the Fund had approximately $439.9 million in total assets. More information, including the Fund’s dividend reinvestment plan, can be found at www.cloughglobal.com or call 877-256-8445.

Clough Capital Partners L.P.

Clough Capital is a Boston-based investment advisory firm which manages approximately $2.4 billion in assets: $818 million in hedge fund and institutional accounts; $120 million in open-end mutual funds; and $1.5 billion in three closed-end funds (as of March 31, 2021) – Clough Global Dividend and Income Fund (GLV), Clough Global Equity Fund (GLQ), and Clough Global Opportunities Fund (GLO).

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain an annual report or semi-annual report which contains this and other information visit www.cloughglobal.com or call 877-256-8445. Read them carefully before investing.

The Clough Global Equity Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market’s value.

Forward-looking statements are based on information that is available on the date hereof, and neither the fund manager nor any other person affiliated with the fund manager has any duty to update any forward-looking statements. Important factors that could affect actual results to differ from these statements include, among other factors, material, negative changes to the asset class and the actual composition of the portfolio.

ALPS Portfolio Solutions Distributor, Inc, FINRA Member Firm.

Clough Global Equity Fund (NYSE MKT: GLQ)
1290 Broadway, Suite 1000
Denver, CO 80203
Contact: Fund Services Group at 877-256-8445

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SOURCE Clough Global Equity Fund

DENVER, July 9, 2021 /PRNewswire/ — Today, the Board of Trustees (the “Board”) for the Clough Global Dividend and Income Fund (the “Fund”) has declared a monthly cash distribution of $0.0967 per common share, payable on the dates noted below. The Fund’s managed distribution policy is to set the monthly distribution rate at an amount equal to one twelfth of 10% of the Fund’s adjusted year-ending net asset value per share (“NAV”), which will be the average of the NAVs as of the last five business days of the prior calendar year.

The following dates apply to the distributions declared:

Ex-Date: July 19, 2021 
Record Date: July 20, 2021
Payable Date: July 30, 2021

Ex-Date: August 19, 2021
Record Date: August 20, 2021
Payable Date: August 31, 2021

Ex-Date: September 20, 2021
Record Date: September 21, 2021
Payable Date: September 30, 2021

A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions, including the percentage of qualified dividend income, will be made after year-end.

The Clough Global Dividend and Income Fund 
The Fund is a closed-end fund with an investment objective of providing a high level of total return. The Fund seeks to pursue this objective by applying Clough Capital Partners L.P.’s (“Clough Capital”) fundamental research-driven investment process and will invest in equity and equity-related securities as well as fixed income securities, including both corporate and sovereign debt, in both U.S. and non-U.S. markets. The Fund’s portfolio managers are Chuck Clough and Rob Zdunczyk. As of June 30^th, 2021, the Fund had approximately $204.2 million in total assets. More information, including the Fund’s dividend reinvestment plan, can be found at www.cloughglobal.com or call 877-256-8445.

Clough Capital Partners L.P. 
Clough Capital is a Boston-based investment advisory firm which manages approximately $2.4 billion in assets: $818 million in hedge fund and institutional accounts; $120 million in open-end mutual funds; and $1.5 billion in three closed-end funds (as of March 31, 2021) – Clough Global Dividend and Income Fund (GLV), Clough Global Equity Fund (GLQ), and Clough Global Opportunities Fund (GLO).

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain an annual report or semi-annual report which contains this and other information visit

www.cloughglobal.com

or call 877-256-8445. Read them carefully before investing.

The Clough Global Dividend and Income Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market’s value.

Forward-looking statements are based on information that is available on the date hereof, and neither the fund manager nor any other person affiliated with the fund manager has any duty to update any forward-looking statements. Important factors that could affect actual results to differ from these statements include, among other factors, material, negative changes to the asset class and the actual composition of the portfolio.

ALPS Portfolio Solutions Distributor, Inc, FINRA Member Firm.

 

Clough Global Dividend and Income Fund (NYSE MKT: GLV) 
1290 Broadway, Suite 1000
Denver, CO 80203 

View original content to download multimedia:https://www.prnewswire.com/news-releases/clough-global-dividend-and-income-fund-declares-monthly-cash-distributions-for-july-august-and-september-2021-of-0-0967-per-share-301328461.html

SOURCE Clough Global Dividend and Income Fund